SUBSIDIARY COMPANIES - ITC Ltd

STATEMENT OF PROFIT AND LOSS FOR THE YEAR ENDED 31ST MARCH, 2012
Note No. For the year ended For the year ended
31st March, 2012 31st March, 2011
(`) (`)
Revenue from Operations 11 1,14,70,178 99,60,456
Other Income 12 22,00,340 12,81,560
Total Revenue
Expenses
1,36,70,518 1,12,42,016
Employee benefits Expense 13 2,37,954 1,76,598
Depreciation and amortization expense 2,65,233 2,72,411
Other Expenses 14 1,38,359 1,71,905
Total Expenses 6,41,546 6,20,914
Profit Before Taxation
Tax expense for the year
1,30,28,972 1,06,21,102
Current Tax 43,05,355 33,57,873
Deferred Tax (4,60,511) (3,31,205)
Profit (Loss) for the period 91,84,128 75,94,434
Basic and Diluted Earnings Per Share (`) 15 773.40 639.53
Significant Accounting Policies 16
The notes referred to above form an integral part of the Statement of Profit and Loss.
This is the Statement of Profit & Loss referred to in our Report of even date.
KEDARASHISH BAPAT
Partner
Membership No : 57903
For S.B. DANDEKAR & COMPANY
Chartered Accountants
Firm’s Registration No : 301009E
Place: Port Blair
Date : 28th April, 2012
CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH, 2012
(Figures for the previous year have been rearranged to conform with the revised presentation)
For the year ended For the year ended
31st March, 2012 31st March, 2011
(`) (`) (`) (`)
A. NET PROFIT BEFORE TAX
Adjustments for:
1,30,28,972 1,06,21,102
Depreciation 2,65,233 2,72,411
Profit on sale of Fixed Asset (1,20,400) —
Interest Income (20,79,940) (19,35,107) (12,81,560) (10,09,149)
OPERATING PROFIT BEFORE WORKING CAPITAL CHANGES
Adjustments for:
1,10,93,865 96,11,953
Trade and Other Receivables (2,66,499) (11,03,088)
Trade Payables — (2,66,499) 8,273 (10,94,815)
CASH GENERATED FROM OPERATIONS 1,08,27,366 85,17,138
Income Tax Paid 38,12,036 38,96,512
NET CASH FROM OPERATING ACTIVITIES 70,15,330 46,20,626
B. CASH FLOW FROM INVESTING ACTIVITIES:
Sale of Fixed Assets 1,26,000 —
Interest Received 16,31,243 17,57,243 10,33,120 10,33,120
NET CASH FROM INVESTING ACTIVITIES 17,57,243 10,33,120
C. CASH FLOW FROM FINANCIAL ACTIVITIES:
Dividends Paid (5,93,750) (5,93,750)
Income Tax on Dividend Paid (96,321) (6,90,071) (98,614) (6,92,364)
NET CASH FLOW USED IN FINANCING ACTIVITIES (6,90,071) (6,92,364)
NET INCREASE IN CASH AND CASH EQUIVALENTS 80,82,502 49,61,382
OPENING CASH AND CASH EQUIVALENTS 2,38,48,123 1,88,86,741
CLOSING CASH AND CASH EQUIVALENTS
CASH AND CASH EQUIVALENTS COMPRISE :
3,19,30,625 2,38,48,123
Cash and Bank Balances
The above Cash Flow Statement has been prepared under the “Indirect Method”
as set out in the Accounting Standard - 3 Cash Flow Statements.
In terms of our report of even date
For and on behalf of
3,19,30,625 2,38,48,123
KEDARASHISH BAPAT
Partner
Membership No : 57903
For S.B. DANDEKAR & COMPANY
Chartered Accountants
Firm’s Registration No : 301009E
Place: Port Blair
Date : 28th April, 2012
116
BAY ISLANDS HOTELS LIMITED
On behalf of the Board
Mohan Swarup Bhatnagar Director
Chandrasekhar Subrahmoneyan Director
Place: Gurgaon
Date : 27th April, 2012
On behalf of the Board
Mohan Swarup Bhatnagar Director
Chandrasekhar Subrahmoneyan Director
Place: Gurgaon
Date : 27th April, 2012