Annual Report FY 2010-11 - Pipavav Shipyard

As per our report of even date
For Chaturvedi and Shah
Chartered Accountants
R Koria
Partner
Place :- Mumbai
Date :- May 28, 2011
Nikhil P. Gandhi
Chairman
Jigar Shah
Chief Financial Officer
For and on behalf of the Board of Directors
Bhavesh P. Gandhi
Executive Vice Chairman
Ajit Dabholkar
Company Secretary
Annual Report 2010-11
Rs in Lacs
C. CASH FLOW FROM FINANCING ACTIVITIES
Proceeds from issue of Share Capital - 49,866.59
Proceeds from issue of Share Warrants 6,254.96 -
Movement in Unclaimed Share Application Money (12.35) -
Proceeds from issue of Convertible Debentures 17,780.00 -
Issue Expenses (1,148.45) (5,119.58)
Proceeds from Long Term Borrowings 20,604.91 22,099.09
Repayment of Long Term Borrowings (10,184.42) (1,692.89)
Short Term Loans (Net) 42,599.41 (2,676.08)
Interest Paid (17,884.88) (16,175.91)
Net Cash Flow from Financing Activities 58,009.18 46,301.22
Net (decrease) / increase in cash and cash equivalents (A+B+C) (2,114.99) 8,534.58
Cash & Cash Equivalents - Opening balance 13,070.86 4,536.28
Cash & Cash Equivalents - Closing balance 10,955.87 13,070.86
Add: Fixed Deposits held for more than three months 31,606.69 50,938.22
Closing Cash and Bank Balance as per Schedule 09* 42,562.56 64,009.08
* Include deposit with banks aggregating to Rs. 21,274.48 Lacs (Previous Year Rs. 50,946.96 Lacs) which are pledged with
Banks as margin for bank guarantee & letter of credits & Rs. 8,500 lacs (P.Y.: NIL) for Credit facilities.
Notes:
(1) The above cash flow statement has been prepared under the “indirect method” as set out in Accounting Standard
3 - Cash Flow Statement.
(2) Figures in ( ) indicate outflow.
(3) Previous Years figures have been regrouped / rearranged / recasted wherever necessary to make them comparable
with those of current year.
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