Elpitiya Plantations Plc Annual Report 2010/11 - Colombo Stock ...

N note 2011 2010
Rs.
Rs.
CASH FLOWS FROM OPERATING ACTIVITIES
Net Profit/(Loss) before Taxation 384,232,743 63,816,794
ADJUSTMENTS FOR
Depreciation/Amortization 21 103,809,009 88,215,186
Provision for Defined Benefit Plans 13 78,468,529 172,695,485
Amortization of Grants 14.1 (10,203,521) (7,539,513)
Share of Profit/ (Loss) of Joint Ventures (34,707,997) (38,822,310)
Finance Cost 20 144,583,738 144,075,445
Deferred Income from Sublease 14.2 (9,748,782) (11,005,541)
Provision for Doubtful Debtors 13,000,000 7,576,810
Operating Profit before Working Capital Changes 669,433,718 419,012,356
(Increase)/Decrease in Trade and other Receivables (14,063,025) (56,460,037)
(Increase)/Decrease in Amounts due from Related Companies 15,595,997 (4,933,110)
(Increase)/Decrease in Inventories (136,432,846) (89,946,700)
Increase/(Decrease) in Trade and Other Payables 35,811,650 (77,770,634)
Increase/(Decrease) in Amounts due to Related Companies (301,345,943) (92,472,871)
Cash Generated from Operations 268,999,551 97,429,004
Cash Received as Sublease of Land 1,292,901 13,330,819
Finance Cost Paid (102,416,858) (119,830,419)
Defined Benefit Plan Cost Paid 13 (62,723,984) (51,013,346)
Grants Received 14.1 38,854,140 42,046,975
Economics Service Charges Paid (6,388,578) (3,817,432)
Net Cash from Operating Activities 137,617,172 (21,854,399)
CASH FLOWS FROM INVESTING ACTIVITIES
Field Development Expenditure 6 (175,700,796) (185,232,716)
Purchase of Property, Plant & Equipment (32,490,835) (83,290,950)
Dividend Received 14,207,983 8,357,661
Right Issue on Ordinary Shares - 344,236,110
Loan Given to Related Party (40,000,000) -
Investment in shares (10) -
Net Cash used in Investing Activities (233,983,658) 84,070,105
CASH FLOWS FROM FINANCING ACTIVITIES
Cash Flow Statement
Year Ended 31 st March 2011
Payment of Government Lease Rentals (44,727,217) (27,383,428)
Proceeds from Loans 104,589,181 860,150,198
Settlement of Loan (230,068,462) (399,877,135)
Dividend Paid (18,216,613) -
Other Lease Rental Paid (16,604,925) (10,442,841)
Net Cash (used in) / from Financing Activities (205,028,036) 422,446,794
Net Increase/(Decrease) in Cash & Cash Equivalents (301,394,522) 484,662,500
A. Cash & Cash Equivalents at the beginning of the year 332,626,350 (152,036,150)
B. Cash & cash Equivalents at the end of the year 31,231,828 332,626,350
NOTE A
Cash & Cash Equivalents at the beginning of the year
Cash & Bank Balances 371,019,291 20,607,486
Bank Overdrafts (Note 12) (38,392,941) (172,643,636)
332,626,350 (152,036,150)
NOTE B
Cash & Cash Equivalents at the end of the year
Cash & Bank Balances 69,842,686 371,019,291
Bank Overdrafts (Note 12) (38,610,858) (38,392,941)
31,231,828 332,626,350
The accounting policies and notes on pages 28 through 52 form an integral part of the Financial Statements.
Elpitiya Plantations Plc Annual Report 2010/11
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