Cash Flow Statement for the year ended 31st March, 2014
| Rs. crores | |||||||||||
| PreviousYear | |||||||||||
| A. | Cash Flow from Operating Activities: | ||||||||||
| Profit before tax | 9,713.50 | 7,836.60 | |||||||||
| Adjustments for: | |||||||||||
| Depreciation and amortisation expense | 1,928.70 | 1,640.38 | |||||||||
| Impairment of fixed assets | 0.33 | 4.01 | |||||||||
| (Profit)/Loss on assets sold/discarded | 48.61 | 3.00 | |||||||||
| Provision for diminution in the value of investments | 141.76 | 90.13 | |||||||||
| Provision for doubtful advances in the nature of loans | 56.69 | 610.63 | |||||||||
| Profit on sale of non-current investments | (24.78) | (12.33) | |||||||||
| (Gain)/Loss on cancellation of forwards, swaps and options | 18.01 | 127.93 | |||||||||
| Interest and income from current investments | (348.46) | (330.62) | |||||||||
| Income from non-current investments | (481.02) | (702.35) | |||||||||
| Finance costs | 1,820.58 | 1,876.77 | |||||||||
| Provision for wealth tax | 2.00 | 2.00 | |||||||||
| Exchange (gain)/loss on revaluation of foreign currency loans and swaps | 360.51 | 440.75 | |||||||||
| 3,522.93 | 3,750.30 | ||||||||||
| Operating Profit before Working Capital Changes | 13,236.43 | 11,586.90 | |||||||||
| Adjustments for: | |||||||||||
| Trade and other receivables | 752.32 | 873.33 | |||||||||
| Inventories | (749.87) | (398.95) | |||||||||
| Trade payables and other liabilities | 1,641.16 | 987.33 | |||||||||
| 1,643.61 | 1,461.71 | ||||||||||
| Cash Generated from Operations | 14,880.04 | 13,048.61 | |||||||||
| Direct tax paid | (2,447.24) | (1,979.94) | |||||||||
| Net Cash Flow from/(used in) Operating Activities | 12,432.80 | 11,068.67 | |||||||||
| B. | Cash Flow from Investing Activities: | ||||||||||
| Purchase of fixed assets(1) | (9,549.13) | (7,508.55) | |||||||||
| Sale of fixed assets | 24.50 | 14.51 | |||||||||
| Advance received against sale of asset | 135.50 | - | |||||||||
| Purchase of investments in subsidiaries(2) | (94.35) | (2,123.81) | |||||||||
| Purchase of other non-current investments | (451.37) | (255.41) | |||||||||
| Sale of non-current investments | 1,241.52 | 0.87 | |||||||||
| Sale/Redemption of investments in subsidiaries | 54.95 | 231.32 | |||||||||
| (Purchase)/Sale of current investments (net) | (1,697.44) | 991.70 | |||||||||
| Inter-corporate deposits/Shareholders' loan given | (131.40) | (127.30) | |||||||||
| Repayment of inter-corporate deposits/shareholders' loan | 45.00 | 50.00 | |||||||||
| Interest received | 93.02 | 59.09 | |||||||||
| Dividend received | 491.78 | 145.18 | |||||||||
| Net Cash Flow from/(used in) Investing Activities | (9,837.42) | (8,522.40) | |||||||||
| C. | Cash Flow from Financing Activities: | ||||||||||
| Issue of Equity Shares | 0.01 | 0.02 | |||||||||
| Capital contributions received | 2.74 | 5.58 | |||||||||
| Proceeds from borrowings | 5,325.46 | 6,087.61 | |||||||||
| Repayment of borrowings | (6,469.94) | (7,181.00) | |||||||||
| Amount received/(paid) on cancellation of forwards, swaps and options | (18.04) | (122.81) | |||||||||
| Expenses (incurred)/reimbursed on issue of equity instruments | 3.87 | 2.40 | |||||||||
| Distribution on Hybrid Perpetual Securities | (266.13) | (265.76) | |||||||||
| Interest paid(1 | (1,503.41) | (1,456.42) | |||||||||
| Dividend paid | (776.97) | (1,165.46) | |||||||||
| Tax on dividend paid | (123.57) | (185.75) | |||||||||
| Net Cash Flow from/(used in) Financing Activities | (3,825.98) | (4,281.59) | |||||||||
| Net increase/(decrease) in Cash and Cash Equivalents | (1,230.60) | (1,735.32) | |||||||||
| Opening Cash and Cash Equivalents | 2,139.93(3) | 3,874.78 | |||||||||
| [Note 19, Page 163] | |||||||||||
| Closing Cash and Cash Equivalents | 909.33 | 2,139.46 | |||||||||
| [Note 19, Page 163] | |||||||||||
Additional information:
- Interest paid is exclusive of and purchase of fixed assets is inclusive of interest capitalised Rs.310.66 crores (2012-13: Rs.174.13 crores).
- Investment in subsidiaries represents the portion of purchase consideration discharged in cash during the year and includes application money on investments Rs.4.85 crores (2012-13: Rs.1,318.15 crores).
- Includes Rs.0.47 crore of Kalimati Investment Company Limited on amalgamation with Tata Steel Limited.
- Previous year figures have been recast/restated where necessary.
| In terms of our report attached | For and on behalf of the Board |  |
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| For DELOITTE HASKINS & SELLS LLP | CYRUS P MISTRY | Chairman | ||
| Chartered Accountants, | B MUTHURAMAN | Vice Chairman | ||
| NUSLI N WADIA | ||||
| ISHAAT HUSSAIN | ||||
| SUBODH BHARGAVA | ||||
| N VENKATRAM | JACOBUS SCHRAVEN | Directors | ||
| Partner | ANDREW ROBB | |||
| MALLIKA SRINIVASAN | ||||
| D K MEHROTRA | ||||
| O P BHATT | ||||
| KARL-ULRICH KOEHLER | ||||
| KOUSHIK CHATTERJEE | Group Executive Director | |||
| A ANJENEYAN | (Finance & Corporate) | |||
| Mumbai, 14th May, 2014 | Company Secretary | T V NARENDRAN | Managing Director | |