For the year ended March 31,
2010 | 2009 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net profit before tax and exceptional item | 7,472 | 6,714 |
Adjustments to reconcile net profit before tax to cash provided by operating activities | ||
Provision for investments | (9) | – |
Depreciation and amortization | 807 | 694 |
Interest and dividend income | (844) | (838) |
Effect of exchange differences on translation of foreign currency cash and cash equivalents | 68 | (73) |
Changes in current assets and liabilities | ||
Sundry debtors | 146 | (297) |
Loans and advances | (363) | (512) |
Current liabilities and provisions | 252 | 304 |
7,529 | 5,992 | |
Income taxes paid | (1,653) | (840) |
NET CASH GENERATED BY OPERATING ACTIVITIES | 5,876 | 5,152 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Purchase of fixed assets and change in capital work-in-progress | (581) | (1,177) |
Investments in subsidiaries | (120) | (41) |
Investments in other securities | (3,497) | – |
Interest and dividend received | 831 | 1,023 |
CASH FLOWS FROM INVESTING ACTIVITIES BEFORE EXCEPTIONAL ITEM | (3,367) | (195) |
Proceeds on sale of long-term investments, net of taxes | 53 | – |
NET CASH USED IN INVESTING ACTIVITIES | (3,314) | (195) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from issuance of share capital on exercise of stock options | 88 | 64 |
Dividends paid including residual dividend | (1,346) | (2,132) |
Dividend tax paid | (228) | (362) |
NET CASH USED IN FINANCING ACTIVITIES | (1,486) | (2,430) |
Effect of exchange differences on translation of foreign currency cash and cash equivalents | (68) | 73 |
NET INCREASE IN CASH AND CASH EQUIVALENTS | 1,008 | 2,600 |
CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE YEAR | 10,289 | 7,689 |
CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR | 11,297 | 10,289 |
As per our report attached.
for B S R & Co.
Chartered Accountants
Natrajan Ramkrishna Partner Membership no. : 32815 |
N. R. Narayana Murthy Chairman and Chief Mentor |
S. Gopalakrishnan Chief Executive Officer and Managing Director |
S. D. Shibulal Chief Operating Officer and Director |
Deepak M. Satwalekar Director |
Prof. Marti G. Subrahmanyam Director |
Claude Smadja Director |
Dr. Omkar Goswami Director |
Rama Bijapurkar Director |
|
Sridar A. Iyengar Director |
David L. Boyles Director |
Prof. Jeffrey S. Lehman Director |
K. V. Kamath Director |
|
K. Dinesh Director |
T. V. Mohandas Pai Director |
Srinath Batni Director |
V. Balakrishnan Chief Financial Officer |
|
Bangalore April 13, 2010 |
K. Parvatheesam Company Secretary |