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2FINANCIAL STATEMENTS SCHNEIDER ELECTRIC INFRASTRUCTURE LIMITED CASH FLOW STATEMENT Cash Flow Statement for the Year Ended March 31, 2012 Schneider Electric Infrastructure Limited (Formerly Smartgrid Automation Distribution and Switchgear Limited) (Rupees Millions) March 31, 2012 March 31, 2011 A. Cash flow from operating activities Net profit before tax 612.94 (0.18) Adjustments for: Provision for warranties 28.67 - Provision for litigation 116.26 - Provision for doubtful debts 27.16 - Bad debts / advances written off (net) 159.46 - Assets written off 4.09 - Unrealised foreign exchange fluctuation 45.68 - Premium of forward contract amortized 6.03 - Depreciation 215.01 - Interest paid 151.42 - Operating profit before working capital changes 1,366.72 (0.18) Adjustments : Increase in Trade receivables (2,337.49) - Increase in Loans and advances (80.99) - Decrease in Inventories 50.46 - Increase in Trade payables 1,250.10 0.18 Increase in Liabilities and provisions 21.24 - Cash generated from / (used in) operations 270.04 - Income tax paid (173.54) - Net cash (used in) / generated from operating activities (A) 96.50 - B. Cash flow from investing activities Purchase of fixed assets (173.09) - Net cash (used in) / generated from investing activities (B) (173.09) - C. Cash flow from financing activities Proceeds from borrowings 330.63 - Interest paid (146.32) - Net cash (used in) / generated from financing activities (C) 184.31 - Net increase in cash and cash equivalents (A + B + C) 107.72 - Opening balance of cash and cash equivalents - - Closing balance of cash and cash equivalents 107.72 - - Cheques in Hand 107.72 - Note: During the year, the Company has acquired business under the Scheme of arrangement (Refer Note 26) w.e.f. April 1, 2011 This acquisition being cashless transaction settled by allotment of shares, has no specific impact on the Cash Flows of the Company. As per our report of even date For and on behalf of the Board of Directors of Schneider Electric Infrastructure Limited For S.R.Batliboi & Co. Firm Registration No.: 301003E Chartered Accountants Per Manoj Gupta Prakash Kumar Chandraker Alexandre Tagger C.S. Ashok Kumar Partner Managing Director Director Secretary Membership No.83906 Place: New Delhi Date: May 29, 2012 66 | Schneider Electric Infrastructure Limited
FINANCIAL STATEMENTS SCHNEIDER ELECTRIC INFRASTRUCTURE LIMITED 2NOTES TO FINANCIAL STATEMENTS Notes to Financial Statements 1. Nature of Operations Schneider Electric Infrastructure Limited (Formerly Smartgrid Automation Distribution and Switchgear Limited) was incorporated on March 12, 2011. It is a public Company domiciled in India and incorporated under the provisions of the Companies Act, 1956. Its shares are listed on three stock exchanges in India. The Company is engaged in the business of manufacturing, designing, building and servicing technologically advanced products and systems for electricity distribution including products such as distribution transformers, medium voltage switchgears, medium and low voltage protection relays and electricity distribution and automation equipments. 2. Basis of preparation These financial statements have been prepared in accordance with generally accepted accounting principles in India (Indian GAAP). The company has prepared these financial statements to comply in all material respects with the accounting standards notified under the Companies (Accounting Standards) Rules, 2006, (as amended) and the relevant provisions of the Companies Act, 1956. The financial statements have been prepared on an accrual basis and under the historical cost convention. The accounting policies adopted in the preparation of financial statements are consistent with those of previous year, except for the change in accounting policy explained below. 2.1. Summary of significant accounting policies (a) Change in accounting policy Presentation and disclosure of financial statements During the year ended 31 March 2012, the revised Schedule VI notified under the Companies Act 1956, has become applicable to the company, for preparation and presentation of its financial statements. The adoption of revised Schedule VI does not impact recognition and measurement principles followed for preparation of financial statements. However, it has significant impact on presentation and disclosures made in the financial statements. The company has also reclassified the previous year figures in accordance with the requirements applicable in the current year. (b) Use of estimates The preparation of financial statements in conformity with Indian GAAP requires the management to make judgments, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities and the disclosure of contingent liabilities, at the end of the reporting period. Although these estimates are based on the management’s best knowledge of current events and actions, uncertainty about these assumptions and estimates could result in the outcomes requiring a material adjustment to the carrying amounts of assets or liabilities in future periods. (c) Tangible Fixed assets Fixed Assets are stated at cost less accumulated depreciation and accumulated impairment losses, if any. The cost comprises purchase price, borrowing costs if capitalization criteria are met and directly attributable cost of bringing the asset to its working condition for the intended use. Any trade discounts and rebates are deducted in arriving at the purchase price. Subsequent expenditure related to an item of fixed asset is added to its book value only if it increases the future benefits from the existing asset beyond its previously assessed standard of performance. All other expenses on existing fixed assets, including Schneider Electric Infrastructure Limited | 67
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MESSAGE FROM CHAIRMAN Message From
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CORPORATE INFORMATION Corporate Inf
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FINANCIAL HIGHLIGHTS Financial High
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DIRECTORS’ REPORT Performance Rev
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DIRECTORS’ REPORT 2. Equipment Ac
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DIRECTORS’ REPORT Major Landmarks
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DIRECTORS’ REPORT Smartcity Offer
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Page 21 and 22: DIRECTORS’ REPORT business model
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Page 25 and 26: DIRECTORS’ REPORT The Company’s
Page 27 and 28: DIRECTORS’ REPORT Schedule of Imp
Page 29 and 30: MANAGEMENT DISCUSSION AND ANALYSIS
Page 35 and 36: DIRECTORS’ REPORT 2. Board of Dir
Page 37 and 38: DIRECTORS’ REPORT A. Mr. Vinod Ku
Page 39 and 40: DIRECTORS’ REPORT E. Mr. Anil Cha
Page 41 and 42: DIRECTORS’ REPORT 7. Audit Commit
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Page 45 and 46: DIRECTORS’ REPORT 15. Unclaimed D
Page 47 and 48: DIRECTORS’ REPORT H. Stock Perfor
Page 49 and 50: DIRECTORS’ REPORT M. Dematerialis
Page 51: Declaration by the Managing Directo
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Page 56 and 57: Highlights of 2011-12 1GOVERNANCE 3
Page 58 and 59: Highlights of 2011-12 1GLOBAL INFRA
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