Annual Report 2006-2007 - Gammon India
Annual Report 2006-2007 - Gammon India
Annual Report 2006-2007 - Gammon India
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GAMMON INDIA LIMITED<br />
CASH FLOW STATEMENT FOR THE YEAR ENDED 31 ST MARCH, <strong>2007</strong><br />
50<br />
12 Months<br />
April <strong>2006</strong> – March <strong>2007</strong><br />
Rs. in Crores<br />
15 Months<br />
January 2005 – March <strong>2006</strong><br />
Rs. in Crores<br />
A. CASH FLOW FROM OPERATING ACTIVITIES<br />
Net Profit before tax and extraordinary items 143.06 111.17<br />
Adjustments for :<br />
Depreciation 35.22 37.10<br />
Profit/Loss on Sale of Assets 0.20 0.06<br />
Profit/Loss on Sale of Investments (4.74) –<br />
Dividend Income (0.75) (0.25)<br />
Interest (Net) 13.57 47.09<br />
Foreign Exchange loss/gain 0.10 0.12<br />
Write off against Leasehold Land 0.02 –<br />
Bad Debts Written off 3.18 0.47<br />
46.80 84.59<br />
Operating Profit before Working Capital Changes 189.86 195.76<br />
Adjustments for :<br />
Trade and Other Receivables (68.51) (4.95)<br />
Inventories (58.41) (121.15)<br />
Trade Payables & Working Capital Finance 162.63 10.26<br />
Loan and Advances (203.13) (121.36)<br />
(167.42) (237.20)<br />
CASH GENERATED FROM THE OPERATIONS 22.44 (41.44)<br />
Direct Taxes paid (Net) (26.86) (22.16)<br />
NET CASH FROM OPERATING ACTIVITIES (4.42) (63.60)<br />
B. CASH FLOW FROM INVESTMENT ACTIVITIES<br />
Purchase of Fixed Assets (176.63) (94.36)<br />
Sale of Fixed Assets 2.21 0.87<br />
Share Application Money Pending Allotment (0.06) 14.47<br />
Purchase of Investments :<br />
– Subsidiary, Joint Ventures & Associates (34.63) (85.75)<br />
– Deposit paid on acquisition of shares – (5.66)<br />
– Others (89.14) (113.00)<br />
Sale of Investments :<br />
– Subsidiary, Joint Ventures & Associates 5.16 17.54<br />
– Deposit received on transfer of beneficial interest – 32.84<br />
– Others 89.16 113.00<br />
Interest received 24.27 14.43<br />
Dividend received 0.75 0.25<br />
(178.91) (105.37)<br />
NET CASH AFTER INVESTMENT ACTIVITIES (183.33) (168.97)<br />
C. CASH FLOW FROM FINANCING ACTIVITIES<br />
Interest Paid (45.28) (67.53)<br />
Proceeds from issue of Share Capital & Security Premium – 434.90<br />
Foreign Currency Translation Reserve (0.48) 0.07<br />
Proceeds from/(Repayment of) borrowings 200.90 (132.51)<br />
Proposed Dividend (Including Tax) (9.98) (4.38)<br />
145.16 230.55<br />
NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS (38.17) 61.58<br />
Balance as on 31.03.<strong>2006</strong> 134.28 72.70<br />
Balance as on 31.03.<strong>2007</strong> 96.11 134.28<br />
NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS (38.17) 61.58<br />
Note: – Figure in brackets denote outflows<br />
– Cash and Cash Equivalents include Rs. 3.15 crores as on 31.03.<strong>2007</strong> (Previous Year – Rs. 1.99 crores as on 31.03.<strong>2006</strong>) with Bank<br />
Branch in Foreign countries relating to certain Foreign Projects which are not readily available for use by the Company.<br />
As At<br />
As At<br />
31.3.<strong>2007</strong><br />
31.3.<strong>2006</strong><br />
Cash and Cash Equivalents<br />
Effect of Exchange Rate Charges<br />
95.99<br />
0.12<br />
134.26<br />
0.02<br />
Balance Restated above 96.11 134.28<br />
As per our attached report of even date<br />
For Natvarlal Vepari & Co.<br />
Chartered Accountants<br />
N. JAYENDRAN<br />
Partner<br />
M.No. 40441<br />
For and on behalf of the Board of Directors<br />
ABHIJIT RAJAN C. C. DAYAL<br />
Chairman & Managing Director Director<br />
RAJUL A. BHANSALI HIMANSHU PARIKH<br />
Executive Director Executive Director<br />
GITA BADE<br />
Company Secretary<br />
Mumbai, Dated : June 30, <strong>2007</strong> Mumbai, Dated : June 30, <strong>2007</strong>
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