president & cfo - UB Group

Cash Flow Statement for the year ended March 31, 2009 (Contd.)Rs. Million2009 2008C. CASH FLOW FROM FINANCING ACTIVITIESRedemption of Preference Shares - (77.500)Proceeds/(Repayment) of long term loans:Proceeds 3,686.681 291.402Repayment (2,619.985) (489.661)Proceeds/(Repayment) of fixed deposits 95.169 (117.669)Proceeds/(Repayment) of short term loans 2,150.000 (100.000)Working Capital Loan / Cash Credit from Banks (net) 2,347.704 1,868.588Interest and Finance Charges paid[including on Finance lease Rs 2.981 Million(2008: Rs 3.003 Million)] (1,641.688) (1,324.793)Dividends paid (208.446) (190.831)Corporate Tax on distributed profit (25.862) (18.005)Notes:Net cash used in financing activities 3,783.573 (158.469)Net (Decrease)/ Increase in cash and cash equivalents (74.011) (3,455.737)Cash and cash equivalents as at March 31, 2008 280.013 3,735.750Cash and Cash equivalents of Transferor Companies as at642.626 -April 1, 2008Cash and cash equivalents as at March 31, 2009 848.628 280.013(74.011) (3,455.737)1. The above Cash Flow Statement has been compiled from and is based on the Balance Sheet as at March 31, 2009 andthe related Profit and Loss Account for the year ended on that date.2. The above cash flow statement has been prepared under the indirect method as set out in the Accounting Standard- 3 on Cash Flow Statements as notified under Section 211(3C) of the Companies Act, 1956 and reallocation requiredfor this purpose are as made by the Company.3. In view of the amalgamation described in Note 2 on Schedule 18, the figures of the current year are not comparablewith those of previous year.4. Previous year's figures have been regrouped wherever necessary in order to conform to this year's presentation.This is the Cash Flow Statementreferred to in our report of even dateJ. MAJUMDAR M.R. DORAISWAMY IYENGAR V.K. REKHIPartner Director Managing DirectorFor and on behalf ofPrice Waterhouse V.S.VENKATARAMAN P.A. MURALIChartered Accountants Company Secretary Chief Financial OfficerBangaloreBangaloreJuly 29, 2009 July 29, 200929