CONSOLIDATED STATEMENT OF
CASH FLOWS for the years ended March 31, 2017 and 2016
| (` crore) | ||||||
| Year ended March 31, 2017 |
Year ended March 31, 2016 |
|||||
| (A) | CASH FLOWS FROM OPERATING ACTIVITIES: | |||||
| Profit before taxes | (1,382.55) | 247.30 | ||||
| Adjustments for: | ||||||
| Depreciation and amortisation expense | 5,690.44 | 5,384.07 | ||||
| (Profit)/loss on sale of non-current investments | (0.97) | - | ||||
| Income from non-current investments | (57.17) | (49.95) | ||||
| (Profit)/loss on assets sold/discarded/written off | (0.15) | (31.42) | ||||
| Exceptional (income)/expenses | 4,324.21 | (3,094.39) | ||||
| (Gain)/loss on cancellation of forwards, swaps and options | 67.95 | 1.23 | ||||
| Interest and income from current investments and guarantees | (517.62) | (319.54) | ||||
| Finance costs | 5,072.20 | 4,221.41 | ||||
| Exchange (gain)/loss on revaluation of foreign currency loans and swaps | 1,422.50 | 164.61 | ||||
| Share of profit or loss of joint ventures and associates | (7.65) | 110.42 | ||||
| (Profit)/loss on disposal of discontinued operation | 3,085.32 | - | ||||
| Other non cash items | (115.07) | 190.27 | ||||
| 18,963.99 | 6,576.71 | |||||
| Operating profit before working capital changes | 17,581.44 | 6,824.01 | ||||
| Adjustments for: | ||||||
| Non-Current/Current financial and other assets | (524.29) | 2,640.88 | ||||
| Inventories | (8,243.17) | 5,617.85 | ||||
| Non-Current/Current financial and other liabilities/provisions | 3,876.75 | (2,093.11) | ||||
| (4,890.71) | 6,165.62 | |||||
| Cash generated from operations | 12,690.73 | 12,989.63 | ||||
| Direct taxes paid | (1,842.66) | (1,534.28) | ||||
| Net cash from/(used in) operating activities | 10,848.07 | 11,455.35 | ||||
| (B) | CASH FLOWS FROM INVESTING ACTIVITIES: | |||||
| Purchase of fixed assets | (7,715.64) | (10,163.44) | ||||
| Sale of fixed assets | 288.72 | 230.63 | ||||
| Purchase of other non-current investments | (24.74) | (553.58) | ||||
| Sale of other non-current investments | 91.24 | 4,275.07 | ||||
| (Purchase)/sale of current investments (net) | (692.63) | (3,241.94) | ||||
| Loans given (net of repayments) | (150.14) | 37.32 | ||||
| Fixed/Restricted deposits with banks (placed)/realised | (27.22) | (1.29) | ||||
| Interest received | 140.12 | 133.06 | ||||
| Dividend received from associates and joint ventures | 53.29 | 40.71 | ||||
| Dividend received from others | 32.14 | 67.09 | ||||
| Acquisition of subsidiaries/undertakings | - | (77.51) | ||||
| Sale of subsidiaries/undertakings | (1,081.36) | 0.06 | ||||
| Net cash from/(used in) investing activities | (9,086.22) | (9,253.82) | ||||
| (C) | CASH FLOWS FROM FINANCING ACTIVITIES: | |||||
| Capital contributions received | 651.89 | - | ||||
| Proceeds from borrowings | 19,484.55 | 14,047.70 | ||||
| Repayment of borrowings | (16,394.07) | (12,709.39) | ||||
| Repayment of finance lease obligations | (208.23) | (200.48) | ||||
| Amount received/(paid) on utilisation/cancellation of derivatives | (178.18) | 829.12 | ||||
| Distribution on Hybrid Perpetual Securities | (266.10) | (266.49) | ||||
| Interest paid | (4,732.46) | (5,483.31) | ||||
| Dividend paid | (791.32) | (788.17) | ||||
| Tax on dividend paid | (158.52) | (158.10) | ||||
| Net cash from/(used in) financing activities | (2,592.44) | (4,729.12) | ||||
| Net increase/(decrease) in cash and cash equivalents | (830.59) | (2,527.59) | ||||
| Opening cash and cash Equivalents (1) | 6,076.94 | 8,177.13 | ||||
| Effect of exchange rate on translation of foreign currency cash and cash equivalents | (414.06) | 459.51 | ||||
| Closing cash and cash equivalents (Refer Note 16, Page 291) | 4,832.29 | 6,109.05 | ||||
(1) Excludes `32.11 crore in respect of subsidiaries disposed off/ held for sale during the year (2015-16: Includes `0.07 crore in respect of
subsidiaries acquired off during the year)
(2) The Group has acquired property, plant and equipment of ` 790.21 crore (2015-16: ₹ 221.97 crore) on finance lease.
In terms of our report attached
For and on behalf of the Board of Directors
For DELOITTE HASKINS & SELLS LLP
Chartered Accountants
sd/-
N. Chandrasekaran
Chairman
(DIN: 00121863)
sd/-
Ishaat Hussain
Director
(DIN: 00027891)
sd/-
Andrew Robb
Director
(DIN: 01911023)
sd/-
O. P. Bhatt
Director
(DIN: 00548091)
sd/-
Mallika Srinivasan
Director
(DIN: 00037022)
sd/-
Peter Blauwhoff
Director
(DIN: 07728872)
sd/-
N. Venkatram
Partner
sd/-
Aman Mehta
Director
(DIN: 00009364)
sd/-
Deepak Kapoor
Director
(DIN: 00162957)
sd/-
D. K. Mehrotra
Director
(DIN: 00142711)
sd/-
Koushik Chatterjee
Group Executive Director
(Finance, Corporate & Europe)
(DIN: 00004989)
sd/-
T. V. Narendran
Managing Director
(DIN: 03083605)
sd/-
Parvatheesam K.
Company Secretary
(ACS: 15921)
Mumbai, May 16, 2017