enl commercial limited annual report 2011 - Investing In Africa

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