Consolidated Cash Flow statement

For the year ended March 31,

in Rs. crore
  Schedule 2010 2009
CASH FLOWS FROM OPERATING ACTIVITIES      
Net profit before tax, minority interest and exceptional item   7,899 6,907
Adjustments to reconcile net profit before tax to cash provided by operating activities      
(Profit) / loss on sale of fixed assets   (2)
Provision for investments   (9)
Depreciation   905 761
Interest and dividend income   (881) (876)
Effect of exchange differences on translation of foreign currency cash and cash equivalents   31 (76)
Effect of exchange differences on translation of subsidiaries   54 (29)
Changes in current assets and liabilities      
Sundry debtors 16 194 (375)
Loans and advances 17 (438) (514)
Current liabilities and provisions 18 204 429
  7,957 6,227
Income taxes paid 19 (1,753) (902)
NET CASH GENERATED BY OPERATING ACTIVITIES   6,204 5,325
CASH FLOWS FROM INVESTING ACTIVITIES      
Purchases of fixed assets and change in capital work-in-progress 20 (675) (1,327)
Payment for acquisition of business, net of cash acquired   (173) (10)
Payment for acquisition of shared service center   (6)
Investments in / (disposal) of securities 21 (3,698) 72
Proceeds from disposal of fixed assets   2 2
Interest and dividend received 22 871 1,056
Cash flow from investing activities before exceptional item   (3,673) (213)
Proceeds on sale of long-term investments, net of taxes (refer to Note 24.2.22)   53
NET CASH USED IN INVESTING ACTIVITIES   (3,620) (213)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from issuance of share capital on exercise of stock options   89 64
Dividends paid including residual dividend   (1,346) (2,131)
Dividend tax paid   (228) (363)
NET CASH USED IN FINANCING ACTIVITIES   (1,485) (2,430)
Effect of exchange differences on translation of foreign currency cash and cash equivalents   (31) 76
NET INCREASE IN CASH AND CASH EQUIVALENTS   1,068 2,758
CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE YEAR   10,993 8,235
Add : Opening balance of cash and cash equivalents arising on consolidation of controlled trusts   50
CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR 23 12,111 10,993
SIGNIFICANT ACCOUNTING POLICIES AND NOTES ON ACCOUNTS 24    
Note : The schedules referred to above form an integral part of the consolidated Cash Flow statement.

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