in a Dynamic Environment - Tata Consultancy Services

106
Annual Report 2008-09
Statement of Cash Flows for the year ended March 31, 2009
2009 2008
Rs. in crores Rs. in crores
1 CASH FLOWS FROM OPERATING ACTIVITIES
Profit before taxes
Adjustments for:
5139.69 5003.86
Depreciation 417.46 458.78
Provision for doubtful advances 6.15 8.74
Provision for doubtful debts 40.33 10.36
Interest expense 7.44 3.42
(Profit) / Loss on sale of fixed assets (net) (8.27) 0.36
Loss from sale of long term investment - 5.14
Unrealised exchange (gain) / loss (11.72) 11.22
Exchange difference on translation of foreign currency cash and cash equivalents (18.21) 27.86
Dividend income (127.85) (111.08)
Interest income (82.24) (36.48)
Profit on sale of mutual funds and other current investments (net) (48.98) (13.49)
Operating Profit before working capital changes 5313.80 5368.69
Inventories 0.24 (5.13)
Unbilled revenues 53.12 (346.30)
Sundry debtors (11.05) (957.57)
Loans and advances (198.73) (106.18)
Current liabilities and provisions 516.16 647.99
Cash generated from operations 5673.54 4601.50
Taxes paid (799.42) (773.59)
Net cash provided by operating activities 4874.12 3827.91
2 CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of fixed assets (978.58) (1075.76)
Proceeds from sale of fixed assets 45.45 4.81
Purchase of trade investments (2451.98) (4.92)
Proceeds from sale / transfer of trade investments - 4.23
Purchase of mutual fund and other investments (28870.90) (28142.14)
Sale of mutual fund and other investments 30047.76 26979.86
Loans given to subsidiaries (75.36) (203.67)
Loans repaid by subsidiaries 46.08 7.26
Inter-corporate deposits placed (170.00) (42.00)
Inter-corporate deposits refunded 90.00 22.00
Fixed deposit with banks (net) having maturity over three months (935.00) (0.13)
Dividends received from subsidiaries 8.52 6.20
Dividends received from other investments 16.73 18.53
Interest received 65.06 20.70
Net cash used in investing activities (3162.22) (2405.03)
3 CASH FLOWS FROM FINANCING ACTIVITIES
Issue of preference shares (net of issue expenses) - 98.58
Borrowings (net) 22.12 (32.49)
Dividend paid, including dividend tax (1602.88) (1488.40)
Interest paid (7.49) (3.30)
Net cash used in financing activities (1588.25) (1425.61)
Net increase / (decrease) in cash and cash equivalents 123.65 (2.73)
Cash and cash equivalents at beginning of the year 398.79 429.38
Exchange difference on translation of foreign currency cash and cash equivalents 18.21 (27.86)
Cash and cash equivalents at end of the year 540.65 398.79
Deposits with original maturity over three months 1060.16 125.16
Restricted Cash 4.45 3.57
Cash and Bank balance at the end of the year as per Schedule J 1605.26 527.52
As per our report attached
For Deloitte Haskins & Sells
Chartered Accountants
N. Venkatram
Partner
Mumbai, April 20, 2009
S. Ramadorai
CEO and Managing Director
Phiroz Vandrevala
Head Global Corporate Affairs
and Executive Director
V. Thyagarajan
Director
Suprakash Mukhopadhyay
Company Secretary
For and on behalf of the Board
Ratan N. Tata
Chairman
S. Mahalingam
Chief Financial Officer
and Executive Director
Aman Mehta
Director
Laura M. Cha
Director
N. Chandrasekaran
Chief Operating Officer
and Executive Director
Naresh Chandra
Director
Dr. Ron Sommer
Director
Mumbai, April 20, 2009