president & cfo - UB Group

Consolidated Financial StatementsCash Flow Statement for the Year Ended March 31, 2009 (Contd.)Rs. Million2009 2008C. CASH FLOW FROM FINANCING ACTIVITIESShare Application Money in a Subsidiary Company 50.000 -Expenses incurred on arrangement of borrowings - (788.716)Proceeds/(Repayment) of long term loansProceeds 2,170.756 40,742.225Repayment (4,465.117) (505.269)Proceeds/(Repayment) of fixed deposits 95.169 (117.669)Proceeds/(Repayment) of short term loans 2,814.552 (1,700.328)Working Capital Loan / Cash Credit from Banks (net) 2,415.467 2,340.240Interest and Finance charges Paid[including on Finance lease Rs. 2.981 Million(7,104.189) (4,124.167)(2008: Rs. 3.003 Million)]Dividends paid (142.913) (175.510)Corporate Tax on distributed profit - (56.119)Net cash used in financing activities (4,166.275) 35,614.687Net increase in cash and cash equivalents (947.815) (340.175)Cash and cash equivalents as at March 31, 2008 5,437.838 5,778.013Cash and cash equivalents as at March 31, 2009 4,490.023 5,437.838(947.815) (340.175)Notes:1. The above Cash Flow Statement has been compiled from and is based on the Balance Sheet as at March 31, 2009 and therelated 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 onCash Flow Statements as notified under Section 211(3C) of the Companies Act, 1956 and reallocation required for this purposeare as made by the Company.3. Previous year’s figures have been regrouped wherever necessary in order to conform to this year’s presentation.This is the Consolidated Cash Flow Statementreferred to in our report of even date.J. 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, 200979