Cash Flow Statement for the year ended 31st March, 2011

(Figures for the previous year have been rearranged to conform with the revised presentation) For the year ended 31st March, 2011 (` in Crores) For the year ended 31st March, 2010 (` in Crores) A. Cash Flow from Operating Activities NET PROFIT BEFORE TAX ADJUSTMENTS FOR : Depreciation Interest Net Income from Long Term Investments Income from Current Investments Fixed Assets Loss on Sale Net Profit on Sale of Current Investments Net Profit on Sale of Long Term Investments Doubtful and Bad Debts Doubtful and Bad Advances, Loans and Deposits Excess of Carrying Cost over Fair Value of Current Investments Net Excess of Cost of Current Investments over Fair Value, reversed Net Unrealised Gain on Exchange Net Doubtful Debts, Claims and Advances previous years Liability no longer required written back OPERATING PROFIT BEFORE WORKING CAPITAL CHANGES ADJUSTMENTS FOR : Trade and Other Receivables Inventories Trade and Other Payables CASH GENERATED FROM OPERATIONS Income Tax Paid NET CASH FROM OPERATING ACTIVITIES B. Cash Flow from Investing Activities Purchase of Fixed Assets Sale of Fixed Assets Purchase of Current Investments Sale/ Redemption of Current Investments Purchase of Long Term Investments from Subsidiary Purchase of Long Term Investments Investment in Joint Venture Investment in Subsidiary Sale of Long Term Investments Income from Long Term Investments Received Income from Current Investments Received Interest Received Loans Given Loans Realised NET CASH USED IN INVESTING ACTIVITIES C. Cash Flow from Financing Activities Proceeds from issue of Share Capital Proceeds from Long Term Borrowings Repayments of Long Term Borrowings Net increase/(decrease) in Cash/Export Credit Facilities Interest Paid Net increase in Statutory Restricted Accounts Balances Dividends Paid Income Tax on Dividends Paid NET CASH USED IN FINANCING ACTIVITIES NET INCREASE IN CASH AND CASH EQUIVALENTS OPENING CASH AND CASH EQUIVALENTS CLOSING CASH AND CASH EQUIVALENTS
Notes : 1. The above Cash Flow Statement has been prepared under the "Indirect Method" as set out in Accounting Standard - 3 Cash Flow Statements. 2. CASH AND CASH EQUIVALENTS : Cash and Cash Equivalents as above Balances in Statutory Restricted Accounts Cash and Bank Balances (Schedule 10)

7268.16 655.99 (58.67) (83.75) (207.12) 24.44 (54.92) (63.01) 2.28 2.93 (2.57) (0.15) (1.36) (27.47) 608.71 (54.54) (77.65) (135.68) 30.88 (11.24) (31.70) 12.47 11.28 9.95 (0.27) (1.07) (36.04)

6015.31

186.62 7454.78

325.10 6340.41

(195.05) (718.46) 918.71

5.20 7459.98 (2195.74) 5264.24

(289.54) 50.65 530.32

291.43 6631.84 (1990.01) 4641.83

(1281.46) 8.06 (68486.95) 68939.54 (176.59) (45.47) (25.00) 103.58 83.75 186.29 110.24 (239.61) 207.40 (616.22) 903.82 1.40 (11.85) 1.94 (15.80) 20.58 (3818.18) (633.55) (3551.64) 1096.38 1082.93 2179.31

(1094.47) 2.86 (57866.98) 55449.27 (387.31) (147.00) 66.47 77.65 133.80 129.33 (811.33) 905.22 (3542.49) 720.73 1.85 (10.06) (61.63) (33.77) 6.04 (1396.53) (236.74) (1010.11) 89.23 993.70 1082.93

2179.31 63.93 2243.24

1082.93 43.35 1126.28

In terms of our report of even date For Deloitte Haskins & Sells Chartered Accountants P. R. RAMESH Partner Kolkata, 20th May, 2011

On behalf of the Board P. V. DHOBALE

Director

Y. C. DEVESHWAR B. B. CHATTERJEE

Chairman Secretary

R. TANDON Chief Financial Officer

82 ITC Report and Accounts 2011