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INTRODUCTION

1.1Introduction of the Study

1.2- Purpose of Study

1.3 -Place of Study

1.4 -Scope of Study

1.5 -Objective of the study

1.6Methodology

1.7 -Data collection

1.8Tools

OBJECTIVE

My Project Report mainly focuses on Working Capital.

My Project study also focuses on the main point that the basic objective of

thecompany.

To ensure smooth & efficient working of a department.

T o p r o m o t e i n d i v i d u a l s a n d c o l l e c t i v e , m o r a l s a s e n s e o f r e s p o n

s i b i l i t i e s , regarding best utilization of resources.

To develop the different sources of finance.

To know the financial position of the company.

Stability & growth.

Development & Promotion of funds in the organization.

T o f o c u s o n I m p o r t a n c e o f f i n a n c i a l a n a l y s i s . I t h e l p s t o a c h i e v

e g o a l s o f organization.

T o u n d ers t an d th e

ef fec t iv en ess o f f in an c ia l ac t iv i ty o f

J a y Bh a r at Ex ha us tSystems Limited.

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To Compare the Assets and Liabilities of the company.

To know the profitability position of Jay Bharat Exhaust System Ltd.

To know about the trend of profits and sales of the company

Balance Sheet:-

Year Dec 09 Dec 08

SOURCES OF FUNDS :

Share Capital 210.21 210.19

Reserves Total 3,748.54 3,330.92

Equity Share Warrants 175.66 175.66

Equity Application Money 0.19

0

Secured Loans 175.83 242.27

Unsecured Loans 3,172.55 3,456.53

Total Liabilities 7,482.98 7,415.57

APPLICATION OF FUNDS :

Gross Block 2,620.92 2,386.75

Less : Accumulated Depreciation 1,027.52 930.07

Net Block 1,593.40 1,456.68

Capital Work in Progress 414.92 428.77

Investments 2,844.69 2,449.03

Inventories 1,230.48 1,198.52

Sundry Debtors 1,534.65 1,024.53

Cash and Bank 754.12 1,934.94

Loans and Advances 1,120.69 809.08

Total Current Assets 4,639.94 4,967.07

Less : Current Liabilities and Provisions

Current Liabilities 2,655.85 3,567.97

Provisions 763.03 549.75

Total Current Liabilities 3,418.88 4,117.72

Net Current Assets 1,221.06 849.35

Deferred Tax Assets 846.95 1,361.45

Deferred Tax Liability 427.04 298.71

Net Deferred Tax 419.91 1,062.74

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Total Assets 7,482.98 7,415.57

P/L Account:-

(Rs in Crs)

Year

Dec

09(12) Dec 08(12)

INCOME :

Sales Turnover 4,742.82 4,416.08

Excise Duty 15.9 24.17

Net Sales 4,726.92 4,391.91

Other Income 804.41 370.28

Stock Adjustments 33.96 115.59

Total Income 5,565.29 4,877.78

EXPENDITURE :

Raw Materials 1,980.56 2,070.10

Power & Fuel Cost 136.8 140.68

Employee Cost 701.82 580.68

Other Manufacturing Expenses 242.76 242.19

Selling and Administration Expenses 1,044.71 1,225.23

Miscellaneous Expenses 209.05 1,937.68

Less: Pre-operative Expenses

Capitalised 0 0

Total Expenditure 4,315.70 6,196.56

Operating Profit 1,249.59 -1,318.78

Interest 39.47 145.83

Gross Profit 1,210.12 -1,464.61

Depreciation 148.2 154.47

Profit Before Tax 1,061.92 -1,619.08

Tax 5.61 18.54

Fringe Benefit tax 3.55 15.52

Deferred Tax 480.78 -608.34

Reported Net Profit 571.98 -1,044.80

Extraordinary Items 14.03 97.3

Adjusted Net Profit 557.95 -1,142.10

Adjst. below Net Profit 0 0

P & L Balance brought forward -826.58 216.27

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Statutory Appropriations 0 0

Appropriations -1.38 -1.95

P & L Balance carried down -253.22 -826.58

Dividend 0 0

Preference Dividend 0 0

Equity Dividend % 0 0

Earnings Per Share-Unit Curr 13.6 0

Earnings Per Share(Adj)-Unit Curr

Book Value-Unit Curr 94.16 84.24

COMPARATIVE FINANCIAL STATEMENT ANALYSIS:-

It refers to those statements of financial statements affairs of a business which are prepared to

provide time prospective in the various elements of financial statements. This is done to make the

financial statement more meaningful. This statement of two or more year is prepared to show the

absolute data of two or more years in terms to of percentage which may increase or decrease.

Ranbaxy Laboratories Ltd (Balance sheet)

Comparative Analysis

(Rs in Crs)

Year Dec 09 Dec 08Inc OrDec % inc or dec

SOURCES OF FUNDS :

Share Capital 210.21 210.19 0.02 0.009515201

Reserves Total 3,748.54 3,330.92 417.62 12.53767728

Equity Share Warrants 175.66 175.66 0 0

Equity Application Money 0.19 0 0.19 0

Secured Loans 175.83 242.27 -66.44 -27.4239485

Unsecured Loans 3,172.55 3,456.53 -283.98 -8.21575395

Total Liabilities 7,482.98 7,415.57 67.41 0.909033291


Gross Block 2,620.92 2,386.75 234.17 9.811249607

Less : Accumulated Depreciation 1,027.52 930.07 97.45 10.47770598

Net Block 1,593.40 1,456.68 136.72 9.385726446

Capital Work in Progress 414.92 428.77 -13.85 -3.23017002

Investments 2,844.69 2,449.03 395.66 16.15578413

Inventories 1,230.48 1,198.52 31.96 2.666622167

Sundry Debtors 1,534.65 1,024.53 510.12 49.79063571

Cash and Bank 754.12 1,934.94

-

1180.82 -61.0261817

Loans and Advances 1,120.69 809.08 311.61 38.5141148Total Current Assets 4,639.94 4,967.07 -327.13 -6.58597523

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Less : Current Liabilities and Provisions

Current Liabilities 2,655.85 3,567.97 -912.12 -25.5641163

Provisions 763.03 549.75 213.28 38.79581628

Total Current Liabilities 3,418.88 4,117.72 -698.84 -16.9715279

Net Current Assets 1,221.06 849.35 371.71 43.76405487

Deferred Tax Assets 846.95 1,361.45 -514.5 -37.7905909

Deferred Tax Liability 427.04 298.71 128.33 42.96140069

Net Deferred Tax 419.91 1,062.74 -642.83 -60.4879839

Total Assets 7,482.98 7,415.57 67.41 0.909033291

Common size Analyses of Company:-

The common size statement analysis can be done for one year over a period of year. It is a

statement in which the figures reported in financial statement are covered into percentage taking

some common base.

Common size financial statements are useful for studying the comparative financial position of

two or more business units or two or more years of the same business.

Ranbaxy Laboratories Ltd (Balance sheet)Common Size analysis

(Rs in Crs)

Year Dec 09 Dec 08 % of dec 09 % of Dec 08

SOURCES OF FUNDS :

Share Capital 210.21 210.19 2.80917495 2.83444159

Reserves Total 3,748.54 3,330.92 50.0942138 44.9179227

Equity Share Warrants 175.66 175.66 2.3474605 2.3687997

Equity Application Money 0.19 0 0.0025391 0

Secured Loans 175.83 242.27 2.34973233 3.26704488

Unsecured Loans 3,172.55 3,456.53 42.3968793 46.6117911Total Liabilities 7,482.98 7,415.57 100 100


Investments 2,844.69 2,449.03 38.0154698 33.0255125

Inventories 1,230.48 1,198.52 16.4437163 16.1622101

Sundry Debtors 1,534.65 1,024.53 20.5085407 13.8159305

Cash and Bank 754.12 1,934.94 10.0778032 26.0929369

Loans and Advances 1,120.69 809.08 14.97652 10.9105571

Total Assets 7,482.98 7,415.57 100.02205 100.007147

Trend analysis of company:-

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This Method is important technique of analyzing the financial statement. The calculation of trend

percentage involves ascertain of arithmetic relationship with each item of several years to the

same item of the base year. Thus one particular year is taken as base year. The value of one

particular item out f several item shown in financial statements are converted into percentage

taking the item base as equal to 100.


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Analysis of the Company through trend analysis is as below

Trend Analysis

(Rs in Crs)

Year Dec 09 Dec 08 Dec 07 Dec 06

Base

(dec 06) Dec 09 Dec 08 Dec 07

SOURCES OF FUNDS :hare Capital 210.21 210.19 186.54 186.34 100 112.8099 112.7992 100.1073

Reserves Total 3,748.54 3,330.92 2,350.68 2,162.79 100 173.3196 154.0103 108.6874

Equity Share Warrants 175.66 175.66 0 0 100 0 0 0

Equity Application Money 0.19 0 1.18 0.88 100 21.59091 0 134.0909

ecured Loans 175.83 242.27 365.06 224.29 100 78.39404 108.0164 162.7625

Unsecured Loans 3,172.55 3,456.53 3,137.96 2,954.31 100 107.3872 116.9996 106.2163

Total Liabilities 7,482.98 7,415.57 6,041.42 5,528.61 100 135.3501 134.1308 109.2756

APPLICATION OF FUNDS : 100 0 0 0

Gross Block 2,620.92 2,386.75 2,261.48 2,133.57 100 122.842 111.8665 105.9951

ess : Accumulated Depreciation 1,027.52 930.07 791.96 699.54 100 146.8851 132.9545 113.2115ess:Impairment of Assets 0 0 0 0 100 0 0 0

Net Block 1,593.40 1,456.68 1,469.52 1,434.03 100 111.1134 101.5795 102.4748

ease Adjustment 0 0 0 0 100 0 0 0

Capital Work in Progress 414.92 428.77 327.42 301.88 100 137.4453 142.0333 108.4603

nvestments 2,844.69 2,449.03 2,345.55 2,234.95 100 127.282 109.5787 104.9487

Current Assets, Loans & Advances 100 0 0 0

nventories 1,230.48 1,198.52 976.07 954.91 100 128.8582 125.5113 102.2159

undry Debtors 1,534.65 1,024.53 882.91 1,013.75 100 151.3835 101.0634 87.09346

Cash and Bank 754.12 1,934.94 180.45 71.15 100 1059.902 2719.522 253.6191

oans and Advances 1,120.69 809.08 790.65 469.18 100 238.8614 172.4455 168.5174Total Current Assets 4,639.94 4,967.07 2,830.08 2,508.99 100 184.9326 197.9709 112.7976

ess : Current Liabilities and Provisions 100 0 0 0

Current Liabilities 2,655.85 3,567.97 833.12 723.33 100 367.1699 493.27 115.1784

Provisions 763.03 549.75 738.14 522.67 100 145.987 105.1811 141.2249

Total Current Liabilities 3,418.88 4,117.72 1,571.26 1,246.00 100 274.3884 330.4751 126.1043

et Current Assets 1,221.06 849.35 1,258.82 1,262.99 100 96.6801 67.24915 99.66983

Miscellaneous Expenses not written

f 0 0 0 0 100 0 0 0

eferred Tax Assets 846.95 1,361.45 92.34 128.43 100 659.4643 1060.072 71.89909

Deferred Tax Liability 427.04 298.71 344.23 278.67 100 153.2422 107.1913 123.526Net Deferred Tax 419.91 1,062.74 -251.89 -150.24 100 -279.493 -707.362 167.6584

Total Assets 7,482.98 7,415.57 6,041.42 5,528.61 100 135.3501 134.1308 109.2756

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Liability Graph Of three Consecutive years

Assets graph Ofthree Consecutive year.

RATIO ANALYSIS :-

Meaning and definition of ratio analysis:

0

20

40

60

80

100

120

140

160

180

200

Share Capital reserve Equity

apllication

money

Secured loans Unsecured

Loans

2006 Dec

2007 Dec

2008 dec

2009 dec

0

500

1000

1500

2000

2500

3000

Capital work

in Progress

Investors Investment Sund

Debtors

cash and

Bank

loan and

Advances

2009 dec

2008 Dec

2007 Dec

2006 Dec

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Ratio analysis is a widely used tool of financial analysis. It is defined as the systematic use

of ratio to interpret the financial statements so that the strength and weaknesses of a firm as well

as its historical performance and current financial condition can be determined. The term ratio

refers to the numerical or quantitative relationship between two variables.

Significance or Importance of ratio analysis:

It helps in evaluating the firms performance:

With the help of ratio analysis conclusion can be drawn regarding several aspects

such as financial health, profitability and operational efficiency of the undertaking. Ratio points

out the operating efficiency of the firm i.e. whether the management has utilized the firms assets

correctly, to increase the investors wealth. It ensures a fair return to its owners and secures

optimum utilization of firms assets

It helps in inter-firm comparison:

Ratio analysis helps in inter-firm comparison by providing necessary data. An inter firm

comparison indicates relative position. It provides the relevant data for the comparison of the

performance of different departments. If comparison shows a variance, the possible reasons of

variations may be identified and if results are negative, the action may be initiated immediately to

bring them in line.

It simplifies financial statement:

The information given in the basic financial statements serves no useful Purpose unless it

s interrupted and analyzed in some comparable terms. The ratio analysis is one of the tools in the

hands of those who want to know something more from the financial statements in the simplified

manner.

It helps in determining the financial position of the concern:

Ratio analysis facilitates the management to know whether the firms

financial position is improving or deteriorating or is constant over the years by setting a

trend with the help of ratios The analysis with the help of ratio analysis can know the

direction of the trend of strategic ratio may help the management in the task of planning,forecasting and controlling.

It is helpful in budgeting and forecasting:

Accounting ratios provide a reliable data, which can be compared, studied And

analyzed. These ratios provide sound footing for future prospectus. The ratios can also

serve as a basis for preparing budgeting future line of action.

Liquidity position:

With help of ratio analysis conclusions can be drawn regarding

the Liquidity position of a firm. The liquidity positon of a firm wouldbe satisfactory if it is able to meet its current obligation when they

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become due. The ability to met short term liabilities is reflected in the

liquidity ratio of a firm. Long term solvency:

Ratio analysis is equally for assessing the long term financial ability of the Firm.

The long term solvency s measured by the leverage or capital structure and profitability

ratio which shows the earning power and operating efficiency, Solvency ratio shows

relationship between total liability and total assets. Operating efficieny:

Yet another dimension of usefulness or ratio analysis, relevant

from the View point of management is that it throws light on the

degree efficiency in the various activity ratios measures this kind of

operational efficiency.

Classification of ratios:

Different ratios are used for different purpose these ratios canbe grouped into various classes according to the financial activity.

Ratios are classified into four broad categories.

1. Liquidity Ratio

2. Leverage Ratio

3. Profitability Ratio

4. Activity Ratio

1. Liquidity Ratio:

Liquidity ratio measures the firms ability to meet its

currentobligations i.e. ability to pay its obligations and when they become

due. Commonly used ratios are:

Current ratio

Current ratio is the ratio, which express relationship between current

asset and current liabilities. Current asset are those which can be converted

into cash within a short period of time, normally not exceeding one year. The

current liabilities which are short- term maturing to be met.Current ratio:-

Current Asset / Current liabilities

Acid test ratio:

The acid test ratio is a measure of liquidity assigned to overcome the defect of current ratio. Itis often referred to as quick ratio because it is a measurement of firms ability to convertits current assets quickly into cash in order to meet its current liabilities.

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Acid test ratio = Current asset -Inventories /Current liabilities

2. Leverage or capital structure ratio/solvency ratio:

Leverage or capital structure ratios are the ratios, which indicate the relative

interest of the owners and the creditors in an enterprise. These ratios indicate the funds

provided by the long-term creditors and owners.To judge the long term financial position of the firm following

ratios are applied.

1.Debtequity ratio:

Debt-equity ratio which expresses the relationship between debt and equity this ratio

explains how far owned funds are sufficient to pay outside liabilities. It is calculated by

following formulaDebt equity ratio= Long term +short term debts +current liabilities /Net worth

.2. Total Debt ratio:

This ratio explains how far owned and borrowed funds are sufficient

to pay debt of the firm. The net margin indicates the managements ability to earn sufficientprofit on sales to earn sufficient profit on sales not only to cover all revenue operatingexpenses of the business, the cost of borrowed funds and the cost of goods or servicing,but also to have sufficient margin to pay reasonable comparison to shareholders on theircontributions to the firm.

Net profit margin= Net profit after tax and interest *100 /Sales

3. Profitability ratios related to investments:

This Ratio are to help assessing the adequate of profit earned by the company and also to discover

whether profitability is increasing or decline the profitability of the firm is the net result of a

large number of polices and decisions .

1. Gross Profit ratio2. Net profit ratio3. Operating ratio4. Operating net profit ratio

3. Activity ratio:

Activity ratio are sometimes are called efficiency ratios. Activity ratios are

concerned with how efficiency the assets of the firm are managed. These ratio express

11relationship between level of sales and the investment in various assets inventors, receivables,

fixed assets etc.

1. Capital turnover ratio2. Fixed Assets Turnover ratio3. Working Capital turnover ratio4. Stock turnover ratio

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Liquidity ratio:-Mar

09(12)

Mar

08(12)

current Ratio(Current asset/current liabilities) 1.357152 1.206267

Quick Assets(Liquid assets/Current Liabilities) 0.997245 0.915203

Stock or Inventory working capital ratio(Stock/working

Capital*100 100.7715 141.1103

Absolute liquid ratio(cash in hand +bank short term

investment/CL 1.052628 1.06466

Solvency ratios:-

Mar

10(12)

Mar

09(12)

Debt -equity Ratio (debt(long term)/equity(Shareholder funds) 1.182345 0.957367

Debt to total funds ratio(debt(long term)/debt)equity) 0.458223 0.51089

Proprietary Fund(shareholder's fund /total assets) 0.85 0.71

Activity ratio:-

Mar

10(12)

Mar

09(12)

Inventory ratio(inventory/current assets 0.265193 0.241293

Total Assets Turnover ratio(sale/total assets 1.199431 0.982024

working Capital Turnover Ratio(Sales/Working capital) 3.871161 5.170907

Sales to capital Employed Ratio(Sales/Capital Employed) 3.871161 5.170907

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Profitabilty ratio:-

Mar

10(12)

Mar

09(12)

gross Profit ratio(gross profit/net sale*100 25.6006 -33.3479

operating net profit ratio(op/net sales*100 26.43561 -30.0275

Fund Flow Statement and its Objectives:-

Funds Flow Statement is an analytical tool in the hands of financial manager. The basic purpose ofthis statement is to indicate on historical basis the changes in the working capital i.e., where fundscame from and where there are used during a given period.

The utility of this statement can be measured on the basis of its contributions to the financialmanagement. It generally serves the following purposes:-

(1) Analysis of Financial Position. The basic purpose of preparing the statement is to have arich into the financial operations of the concern. It analyses how the funds were obtained and usedin the past. In this sens, it is a valuable tool for the finance manager for analyzing the past andfuture plans of the firm and their impact on the liquidity. He can deduce the reasons for theimbalances in uses of funds in the past an take necessary corrective actions. In analyzing thefinancial position of the firm, the Funds Flow Statement answers to such questions as-

1. Why were the net current assets of the firm down, though the net income was up or vice versa?2. How was it possible to distribute dividends in absence of or in excess of current income for theperiod ?3. How was the sale proceeds of plant and machinery used ?4. How was the sale proceeds of plant and machinery used ?5. How were the debts retired ?6. What became to the proceeds of share issue or debenture issue ?

7. How was the increase in working capital financed ?8. Where did the profits go?

Though it is not an easy job to find the definite answerers to such questions because funds derivedfrom a particular source re rarely used for a particular purpose. However, certain usefulassumptions can often be made and reasonable conclusions are usually not difficult to arrive at.

(2) Evaluation of the Firm's Financing. One important use of the statement is that it evaluatesthe firm' financing capacity. The analysis of sources of funds reveals how the firm's financed its

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development projects in the past i.e., from internal sources or from external sources. It alsoreveals the rate of growth of the firm.

(3) An Instrument for Allocation of Resources. In modern large scale business, available

funds are always short for expansion programmes and there is always a problem of allocation ofresources. It is, therefore, a need of evolving an order of priorities for putting through theirexpansion programmes which are phased accordingly, and funds have to be arranged as differentphases of programmes get into their stride. The amount of funds to be available for these projectsshall be estimated by the finance with the help of Funds Flow Statement. This prevents thebusiness from becoming a helpless victim of unplanned action.

(4) A Tool of Communication to Outside World. Funds Flow Statement helps in gathering thefinancial states of Business. It gives an insight into the evolution of the present financial positionand gives answer to the problem 'where have our resources been moving'? In the present world ofcredit financing, it provides a useful information to bankers, creditors, financial, it provides auseful informations and government etc. regarding amount of loan required, its proposes, theterms of repayment an sources for repayment of loan etc. the financial manager gains aconfidence born out of a study of Funds Flow Statement. In fact, it carries information regardingfirm's financial policies to the outside world.

(5) Future Guide. An analysis of Funds Flow Statements of several years reveals certain valuableinformation for the financial manager for planning the future financial requirements of the firm andtheir nature too i.e. Short term, long-term or mid term. The management can formulate itsfinancial policies based on information gathered from the analysis of such statements. Financialmanager can rearrange the firm's financing more effectively on the basis of such information alongwith the expected changes in trade p payables and the various accruals. In this way, it guides themanagement in arranging its financing more effectively.

Working capital:-


Working capital:-

(Rs in Crs)

Year Dec 09 Dec 08 Inc Dec

SOURCES OF FUNDS :

Current Assets, Loans & Advances

Inventories 1,230.48 1,198.52 31.96Sundry Debtors 1,534.65 1,024.53 510.12

Cash and Bank 754.12 1,934.94 1,180.82

Loans and Advances 1,120.69 809.08 311.61

4,639.94 4,967.07

Less : Current Liabilities

Current Liabilities 2,655.85 3,567.97 912.12

Provisions 763.03 549.75 213.28

Total Current Liabilities 3,418.88 4,117.72

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Working Capital (C.A-C.L) 1,221.06 849.35

371.71

2,655.85 3,196.26

Fund Flow Statement:-

Ranbaxy Laboratories Ltd (Fund

Flow )

(Rs in Crs)

Bottom of Form

Year 9-Dec 8-Dec

Sources of funds

Cash profit 669.43 0

Increase in equity 0.02 23.65

Increase in other networth 0 2199.52

Increase in loan funds 0 195.78

Decrease in gross block 0 0

Decrease in investments 0 0

Decrease in working capital 271.12 0

Others 0 0

Total Inflow 940.57 2418.95

Application of funds

Cash loss 0 906.69

Decrease in net worth 154.17 0

Decrease in loan funds 350.42 0

Increase in gross block 218.32 224.74

Increase in investments 215.66 380.48

Increase in working capital 0 905.16

Dividend 0 0

Others 2 1.88Total Outflow 940.57 2418.95

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Cash Flow Statement:-

Cash Flow Statement

(Rs in Crs)

2009 2008 2007

Cash Flow Summary

Cash and Cash Equivalents at Beginning of the

year 862.21 172.14

Net Cash from Operating Activities-

665.44 -389.68

Cash Flow From Operating Activities

Net Profit before Tax & Extraordinary Items 1061.92

-

1619.08 774.4

Adjustment For

Depreciation 148.2 154.47 118.73

Interest (Net) -55.07 59.15 84.22

Dividend Received -0.95 -1.1 -0.99

P/L on Sales of Assets -23.73 -94.4 -57.26

P/L on Sales of Invest -42.03 -4.28 0

Others -894.07 770.59 1.57

Total Adjustments (PBT & Extraordinary Items) -1149.7 1442.18 -57.32

Op. Profit before Working Capital Changes -87.78 -176.9 717.08

Adjustment For

Trade & 0th receivables -541.01 -78.84 91.17

Inventories -31.97 -222.45 -21.16

Trade Payables 245.34 92.06 99.96

Loans & Advances -11.21 90.51

-

115.14

Others -1.44 -20.45 4.69

Total (OP before Working Capital Changes) -340.29 -139.17 59.52

Cash Generated from/(used in) Operations -428.07 -316.07 776.6

Interest Paid(Net) 0 0 0Direct Taxes Paid -237.37 -73.61 -90.83

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Advance Tax Paid 0 0 0

Others 0 0 0

Total-others -237.37 -73.61 -90.83

Cash Flow before Extraordinary Items -665.44 -389.68 685.77

Extraordinary Items

Net Cash Used in Investing Activities 86.3

-

1710.88

Cash Flow from Investing Activities

Investment in Assets :

Purchased of Fixed Assets -274.76 -268.31

-

222.18

Sale of Fixed Assets 35.86 114.7 85.05

Financial/Capital Investment :

Purchase of Investments 0 -435

-

243.92

Sale of Investments 61.43 305.57 0Interest Received 84.93 74.02 8.28

Dividend Received 0.95 1.1 0.99

Invest. In Subsidiaries -240.45 -255.12

-

337.58

Loans to Subsidiaries 0 -182.52 0

Others 418.34

-

1065.32 1.18

Net Cash Used in Financing Activities

-

214.14 2790.63

Cash Flow From Financing Activities

Proceeds:

Proceeds from Issue of shares (incl share

premium) 1.34 3438.92 9.23

Proceed from Issue of Debentures 200 1687 0

Proceed from 0ther Long Term Borrowings 1.52 3.34 7.06

On Redemption of Debenture -200 -1687 0

Of the Long Term Borrowings 0 -49.85 0

Of the short term Borrowings -173.79 -351.77 0

Dividend Paid 0 -223.94

-

316.93

Others 0 117.46 -47.22

Net Cash Used in Financing Activities -214.14 2790.63 132.19

Net Inc/(Dec) in Cash and Cash Equivalent

-

793.28 690.07

Cash and Cash Equivalents at End of the year 68.93 862.21

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