SUBSIDIARY COMPANIES - ITC Ltd

STATEMENT OF PROFIT AND LOSS FOR THE YEAR ENDED MARCH 31, 2012
For the Year ended For the Year ended
Note March 31, 2012 March 31, 2011
(`) (`)
INCOME
Revenue from operations
-Revenue from sale of goods 71,47,389 82,18,773
Other operating revenue 14 1,15,609 —
Other income - interest on fixed deposits 11,047 12,356
Total income
Expenses
72,74,045 82,31,129
Cost of seeds 15 7,69,916 9,08,272
Changes in inventories of finished goods,
work-in-progress and stock-in-trade 16 (47,35,707) (29,55,638)
Employee benefits expense 17 26,10,147 22,41,543
Depreciation and amortisation expense 7 11,51,509 11,51,509
Other expenses 18 71,26,246 64,36,343
Total expense 69,22,111 77,82,029
Profit before tax
Tax expense
3,51,934 4,49,100
Current tax 19,706 5,924
Profit for the Year 3,32,228 4,43,176
Earnings per equity share 20
Basic and diluted
Face value (`)
0.06
10.00
0.08
10.00
Segment information 21
Related party disclosure 25
Significant accounting policies 27
The accompanying notes from 1 to 27 form an integral part of these financial statements.
As per our report of even date.
For BSR & Co.
Chartered Accountants
Firm’s Registration No: 101248W
Bhavesh Dhupelia
Partner
Membership No: 042070
Mumbai, 26th April, 2012
CASH FLOW STATEMENT FOR THE YEAR ENDED MARCH 31, 2012
Year Ended Year Ended
March 31, 2012 March 31, 2011
(`) (`)
A. Cash flow from operating activities
Profit before taxation
Adjustments for:
3,51,934 4,49,100
Depreciation 11,51,509 11,51,509
Interest income (11,047) (12,356)
Operating profit before working capital changes
Adjustment for
14,92,396 15,88,253
Trade, other payables & liabilities 3,13,768 4,37,920
Inventories (47,35,707) (29,55,638)
Trade and other receivable 11,474 (1,16,806)
Loans and advances 26,828 (8,246)
Cash used in operations (28,91,241) (10,54,517)
Taxes paid (net of refunds) (6,905) (2,471)
Net cash used in operating activities
B. Cash flow from investing activities
(28,98,146) (10,56,988)
Interest received 11,047 12,356
Net cash generated from investing activities
C. Cash flow from financing activities
11,047 12,356
Loan repayment from holding Company 27,45,513 12,03,010
Net cash generated from financing activities 27,45,513 12,03,010
D. Net increase/(decrease) in cash and cash equivalents
E. Reconciliation
(1,41,586) 1,58,378
Cash and cash equivalents at the beginning of the year 2,53,279 94,901
Cash and cash equivalents at the end of the year 1,11,693 2,53,279
Notes:
1. The Cash Flow Statement has been prepared under the "Indirect Method" as set out in Accounting
Standard - 3 on Cash Flow Statement prescribed in Companies (Accounting Standard) Rules, 2006.
2. Cash and cash equivalents represent cash and bank balances only.
(1,41,586) 1,58,378
For BSR & Co.
Chartered Accountants
Firm’s Registration No: 101248W
Bhavesh Dhupelia
Partner
Membership No: 042070
Mumbai, 26th April, 2012
PAVAN POPLAR LIMITED
For and on behalf of the Board
S. K. Sipani Director
S. Limaye Director
Dr. R. C. Dhiman Manager
Kolkata, 26th April, 2012
For and on behalf of the Board
S. K. Sipani Director
S. Limaye Director
Dr. R. C. Dhiman Manager
Kolkata, 26th April, 2012
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