enl commercial limited annual report 2011 - Investing In Africa

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Statements of Changes In Equity Year ended June 30, 2011 (a) THE GROUP Attributable to equity holders of the company Holding company and subsidiaries Fair value Non- Share Associated and other Retained controlling Total Notes capital companies reserves earnings Total interests equity Rs’000 Rs’000 Rs’000 Rs’000 Rs’000 Rs’000 Rs’000 Balance at July 1, 2010 177,960 (13,340) 279,400 660,428 1,104,448 80 1,104,528 Transfer - - (1,000) 1,000 - 257 257 Transfer to retained earnings on business combination - 30,107 - (30,107) - - - Effect of change in ownership not resulting in loss of control - - 1,704 (1,610) 94 (94) - Acquisition of subsidiaries - - - - - 415 415 Issue of shares in subsidiaries to non-controlling shareholders - - - - - 10,000 10,000 Transfer to retained earnings on disposal of subsidiaries - - (8,645) 8,645 - - - Total comprehensive income for the year - (4,425) (109,657) 92,107 (21,975) 7,113 (14,862) Dividends 24 - - - (26,255) (26,255) - (26,255) Dividend paid by subsidiaries and associates to non-controlling shareholders - - - - - (382) (382) Balance at June 30, 2011 177,960 12,342 161,802 704,208 1,056,312 17,389 1,073,701 Balance at July 1, 2009 177,960 (7,029) 316,399 645,540 1,132,870 147 1,133,017 Total comprehensive income for the year - (6,311) (36,999) 38,226 (5,084) (67) (5,151) Dividends 24 - - - (23,338) (23,338) - (23,338) Balance at June 30, 2010 177,960 (13,340) 279,400 660,428 1,104,448 80 1,104,528 (b) THE COMPANY Share Fair value and Retained Note capital other reserves earnings Total Rs’000 Rs’000 Rs’000 Rs’000 Balance at July 1, 2010 177,960 619,047 681,412 1,478,419 Total comprehensive income for the year - (112,777) 30,375 (82,402) Dividends 24 - - (26,255) (26,255) Balance at June 30, 2011 177,960 506,270 685,532 1,369,762 Balance at July 1, 2009 177,960 604,218 677,950 1,460,128 Total comprehensive income for the year - 14,829 26,800 41,629 Dividends 24 - - (23,338) (23,338) Balance at June 30, 2010 177,960 619,047 681,412 1,478,419 The notes on pages 70 to 111 form an integral part of these financial statements. Auditors’ report on pages 62 and 63. 68 ENL Commercial Limited Annual Report 2011
Statements of Cash Flows Year ended June 30, 2011 THE GROUP THE COMPANY Notes 2011 2010 2011 2010 Rs’000 Rs’000 Rs’000 Rs’000 Cash flows from operating activities Cash generated from operations 30(a) 95,011 87,321 20,990 35,316 Income tax paid (11,498) (6,738) (90) (408) Net cash generated from operating activities 83,513 80,583 20,900 34,908 Cash flows from investing activities Purchase of investments in associates (4,363) (1,420) (3,500) - Purchase of investments in subsidiaries - - (20,000) (1,500) Purchase of investments in other financial assets (17,018) - (17,018) - Deposit on investment (9,321) (52,891) (9,321) (57,891) Purchase of property, plant and equipment (166,319) (40,094) - - Purchase of intangible assets (4,046) (4,749) - - Proceeds from disposal of property, plant and equipment 19,152 3,821 - - Proceeds from disposal of investments - 21,411 13,700 21,413 Loans refunded by group companies 1,400 - 17,400 456 Loans granted to group companies - (7,500) (7,000) (23,500) Interest received 1,074 989 1,728 1,015 Acquisition of subsidiaries net of cash (32,510) - - - Disposal of subsidiaries net of cash 14,647 - - - Net cash used in investing activities (197,304) (80,433) (24,011) (60,007) Cash flows from financing activities Interest paid (74,155) (28,905) (17,562) (11,643) Refund of long term borrowings (425,385) (70,523) (90,114) (13,372) Loans received from group companies 135,000 - - - Loans repaid to group companies (11,500) (16,500) (11,500) (16,500) Proceeds from long term borrowings 646,171 72,000 179,600 70,000 Issues of shares by subsidiaries to non-controlling interests 10,000 - - - Finance lease principal payments (33,751) (13,391) - - Dividends paid (23,338) (20,421) (23,338) (20,421) Dividends paid by subsidiaries to non-controlling shareholders (9,750) (3) - - Net cash generated from/(used in) financing activities 213,292 (77,743) 37,086 8,064 Net increase/(decrease) in cash and cash equivalents 99,501 (77,593) 33,975 (17,035) Movement in cash and cash equivalents At July 1, (188,414) (110,821) (62,371) (45,336) Increase/(decrease) 99,501 (77,593) 33,975 (17,035) At June 30, 30(b) (88,913) (188,414) (28,396) (62,371) The notes on pages 70 to 111 form an integral part of these financial statements. Auditors’ report on pages 62 and 63. ENL Commercial Limited Annual Report 2011 69
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ENL COMMERCIAL LIMITED ANNUAL REPOR
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Dear Shareholder, The Board of Dire
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ENL Commercial Limited Annual Repor
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Portfolio of operating companies of
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Dividend per Share (Rs) 0.80 0.80 0
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ENL Commercial Limited Annual Repor
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Directors’ Report (continued) Ass
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AXESS LIMITED ENL Commercial Limite
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CHARABIA LTD ENL Commercial Limited
Page 19 and 20: COGIR LIMITÉE ENL Commercial Limit
Page 21 and 22: GREWALS (MAURITIUS) LIMITED ENL Com
Page 23 and 24: PACK PLASTICS LIMITED ENL Commercia
Page 25 and 26: Statement of Directors’ Responsib
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Page 29 and 30: ACTIVITIES FRCI specialises in info
Page 31 and 32: Corporate Information June 30, 2011
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Page 67 and 68: Statements of Financial Position Ju
Page 69: Statements of Comprehensive Income
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Page 115 and 116: Proxy Form ENL Commercial Limited I
Page 117 and 118: Notes ENL Commercial Limited Annual
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ENL Commercial Limited 7 th Floor S
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