Con_Cash_flow_rev

Consolidated Statement of Cash Flows

(₹ In Crore)

Particulars

For the year ended 31 March

2023

2022

    

I.

Operating activities

7,841.98

7,651.68

Profit before tax

Adjustments to reconcile profit before tax to net cash flows:

Add:

i)

Depreciation and amortisation

285.85

269.76

ii)

Loss on property, plant and equipment sold, demolished, discarded and scrapped

14.11

8.88

iii)

Provision for doubtful debts and advances

4.79

(4.44)

iv)

Share based payment to employees

29.82

15.36

v)

Exchange loss/(gain) on cash and cash equivalents

11.39

(3.55)

vi)

Exchange loss/(gain) on trade receivables

2.50

2.39

vii)

Exchange loss/(gain) on import payables

0.24

3.64

viii)

Interest adjustment on Government grant

1.46

1.31

ix)

Interest expense

38.05

7.35

388.21

300.70

Less:

i)

Investment income included in above:

Interest income on fixed income securities

306.99

275.05

Interest income on fixed deposits

63.85

36.42

Interest income on exchange traded funds

344.56

204.68

Interest income on fixed maturity plans

39.55

388.93

Profit on sale of other investments, net

–

74.90

Gain on valuation and realisation of mutual funds measured at fair value through profit or loss

177.67

224.47

Dividend income on other strategic investments

47.25

45.50

Amortisation of premium/discount on acquisition of fixed income securities

(2.00)

(17.67)

977.87

1,232.28

ii)

Share of profits of associate

529.29

579.53

iii)

Government grants

2.65

2.65

iv)

Exceptional item

–

816.51

v)

Surplus on sale of property, plant and equipment

111.56

21.59

(1,621.37)

(2,652.56)

6,608.82

5,299.82

Change in assets and liabilities

i)

(Increase)/decrease in inventories

(333.04)

263.38

ii)

(Increase)/decrease in trade receivables

(243.34)

1,202.52

iii)

(Increase)/decrease in loans and other assets

587.58

76.82

iv)

Increase/(decrease) in liabilities and provisions

576.24

(943.47)

587.44

599.25

Annuity payments (net) to VRS/Welfare scheme optees

(0.32)

(0.32)

Net cash flow from operating activities before income tax

7,195.94

5,898.75

Income tax paid

(1,918.52)

(1,701.54)

Net cash flow from/(used in) operating activities

5,277.42

4,197.21

    

II.

Investing activities

i)

Sale of investments

10,792.76

11,526.59

ii)

Purchase of investments

(9,384.23)

(11,083.79)

iii)

Sale/(purchase) of liquid mutual funds, etc., net

759.84

(209.44)

iv)

Investment in treasury shares by ESOP trust

5.78

(37.37)

v)

(Increase)/decrease in other bank balances

(424.49)

(2.14)

vi)

Purchase of property, plant and equipment (including advances)

(1,074.47)

(550.75)

vii)

Sale proceeds of property plant and equipment

136.90

33.07

viii)

Capital expenditure on development of technical know-how

(35.73)

–

776.36

(323.83)

ix)

Investment income

Interest income on fixed income securities

306.99

275.05

Interest income on fixed deposits

63.85

36.42

Dividend income on other strategic investments

47.25

45.50

418.09

356.97

(Increase)/decrease in interest receivable

5.07

(114.00)

423.16

242.97

Net cash flow from/(used in) investing activities

1,199.52

(80.86)

   

III.

Financing activities

i)

Interest expense

(38.05)

(7.35)

ii)

Equity share buy–back (incl. tax thereon)

(3,093.88)

–

iii)

Transaction costs on issue of shares

(1.81)

–

iv)

Dividend, including interim dividend paid

(4,046.96)

(4,048.98)

    

Net cash flow from/(used in) financing activities

(7,180.70)

(4,056.33)

   

IV.

Change in foreign currency translation arising on consolidation

23.08

353.51

   

Net change in cash and cash equivalents

(680.68)

413.53

    

Cash and cash equivalents at the beginning of the year

933.69

516.61

Add/(Less): Effects of exchange (loss)/gain on cash and cash equivalents

(11.39)

3.55

Cash and cash equivalents at the end of the year [See note 11]

241.62

933.69

   

As per our report of even date

On behalf of the Board of Directors

For S R B C & CO LLP

Chartered Accountants ICAI

Firm Registration Number: 324982E/E300003

Niraj Bajaj

Chairman

(DIN: 00028261)

Dinesh Thapar

Chief Financial Officer

Rajiv Bajaj

Managing Director

(DIN: 00018262)

per Arvind Sethi

Partner

Membership Number: 089802

Pune: 25 April 2023

Dr. J Sridhar

Company Secretary

Anami N. Roy

Chairman – Audit Committee

(DIN: 01361110)