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Overview Performance Reviews Governance Financials79Annual Report 2010-11Cash Flow Statement for the year ended 31st March, 2011(` in ‘000)Year ended 31.03.2011 Year ended 31.03.2010A. CASH FLOW FROM OPERATING ACTIVITIESNet Profit Before Tax 420,078 754,860Adjustments for :Depreciation and Amortisation 41,608 168,928Bad Debts/Advances etc Written off 8,079 7,623(Profit)/Loss on Sale of Fixed Assets (Net) 19 (10,471)Interest Expenses (Net) 21,314 159,511Dividend Income (1,936) (1,216)Unrealised Foreign Exchange (Gain)/Loss (Net) (2,050) (7,323)67,034 317,052Operating Profit before Working Capital Changes 487,112 1,071,912Adjustments for :Trade and Other Receivables (119,204) (469,964)Inventories (181,464) (2,967)Loans and Advances and Other Current Assets (27,927) 25,123Trade Payables 248,491 246,358(80,104) (201,450)Cash Generated from Operations 407,008 870,462Direct Taxes Paid (118,987) (285,072)Net Cash (Used in)/from Operating Activities 288,021 585,390B. CASH FLOW FROM INVESTING ACTIVITIESPurchase of Fixed Assets (488,733) (395,652)Proceeds from Sale of Fixed Assets 659 58,276Investment in a Subsidiary Company (5,200) (106)Interest Received 2,605 439Dividend Received 1,936 1,216Net Cash (Used in)/from Investing Activities (488,733) (335,827)C. CASH FLOW FROM FINANCING ACTIVITIESInterest Paid (29,306) (160,422)Proceeds from Long Term Borrowings 38,619 -Repayment of Long Term borrowings (11,311) (63,534)Increase in Cash Credit and other short term borrowings (Net) 272,994 19,838Dividend Paid (69,684) (46,573)Net Cash (Used in)/from Financing Activities 201,312 (250,691)Net Increase/ (Decrease) In Cash and Cash Equivalents (A+B+C) 600 (1,128)Cash and Cash Equivalents as at the beginning of the year (Schedule 'I' ) 1,826 2,954Cash and Cash Equivalents as at the close of the year (Schedule ‘I’ ) 2,426 1,826Notes :1) The above Cash Flow Statement has been prepared under the ‘ Indirect Method ‘ as set out in the Accounting Standard - 3 on ‘Cash Flow Statements’.2) The above Cash Flow Statement does not reflect transfer of Assets and Liabilities amounting to ` 3,044,068 thousand and ` 2,085,672 thousand respectively toTractors India Pvt Ltd (TIPL) pursuant to the Scheme of Arrangement indicated in Note 13 on Schedule ‘O’ being non cash in nature.3) The Schedules referred to above forms an integral part of the Cash Flow Statement .4) The figures for the current year are not comparable with those of the previous year (which have been rearranged/regrouped wherever necessary), as the figures forthe previous year include transactions relating to the transferred undertaking pertaining to dealership business of Caterpillar, referred to in Note 13 on Schedule ‘O’.This is the Cash Flow Statement referred to in our report of even date.For PRICE WATERHOUSEFirm Registration No. 301112EChartered AccountantsP.LawPartnerMembership Number 51790Kolkata17th May, 2011For and on behalf of Board of DirectorsA. MazumdarChairmanSumit MazumderVice Chairman & Managing DirectorSekhar BhattacharjeeCompany Secretary