Statement of Cash Flows

( ₹ in Crore )
For the year ended 31 March
Particulars 2021 2020
         
I. Operating activities
 Profit before tax 5,939.00 6,580.20
 Adjustments to reconcile profit before tax to net cash flows:
 Add:
 i) Depreciation and amortisation 259.28 246.43
 ii) Loss on property, plant and equipment sold, demolished,
discarded and scrapped
13.10 13.70
 iii) Provision for doubtful debts and advances 16.15 22.01
 iv) Share based payment to employees 6.90 10.01
 v) Exchange loss/(gain) on cash and cash equivalents 1.19 (2.16)
 vi) Exchange loss/(gain) on trade receivables (6.01) (15.41)
 vii) Exchange loss/(gain) on import payables 0.10 (1.98)
 viii) Interest adjustment on Government grant 1.18 1.06
 ix) Interest expense 5.48 2.10
297.37 275.76
 Less:
 i) Investment income included in above:
   Interest income on fixed income securities 65.77 17.04
   Interest income on fixed deposits 17.87 28.90
   Interest income on exchange traded funds 76.85
   Interest income on fixed maturity plans 842.51 903.55
   Profit on sale of other investments, net 15.74 19.53
   Gain on valuation and realisation of mutual funds measured at    fair value through profit or loss 254.25 462.70
   Dividend income on investments in subsidiaries 208.99
   Dividend income on other strategic investments 25.38
   Amortisation of premium/discount on acquisition of fixed    income securities (5.57) 18.24
1,267.42 1,684.33
 ii) Provision for doubtful debts and advances written back (net) 0.54
 iii) Government grants 2.65 2.65
 iv) Surplus on sale of property, plant and equipment 1.94 5.28
(1,272.01) (1,692.80)
4,964.36 5,163.16
 Change in assets and liabilities
  i) (Increase)/decrease in inventories (430.39) (101.99)
  ii) (Increase)/decrease in trade receivables (1,001.89) 828.53
  iii) (Increase)/decrease in loans and other assets (561.50) 409.28
  iv) Increase/(decrease) in liabilities and provisions 1,483.32 (759.30)
(510.46) 376.52
 Annuity payments (net) to VRS/Welfare scheme optees (0.35) (0.26)
 Net cash flow from operating activities before income-tax 4,453.55 5,539.42
 Income-tax paid (1,339.69) (1,677.66)
         
 Net cash flow from/(used in) operating activities 3,113.86 3,861.76
         
II. Investing activities
 i) Investment in subsidiary (10.54)
 ii) Sale of investments 3,555.72 5,178.94
 iii) Purchase of investments (5,888.39) (3,517.96)
 iv) Sale/(purchase) of liquid mutual funds, etc., net (351.28) 166.96
 v) Investment in treasury shares by ESOP trust (5.52) (26.62)
 vi) (Increase)/decrease in other bank balances 8.71 (13.51)
 vii) Purchase of property, plant and equipment (including advances) (241.04) (282.81)
 viii) Sale proceeds of property, plant and equipment 5.70 16.74
 ix) Capital expenditure on development of technical know-how (15.53) (13.93)
(2,931.63) 1,497.27
 x) Investment income
  Interest income on fixed income securities 65.77 17.04
  Interest income on fixed deposits 17.87 28.90
  Dividend income on investments in subsidiaries 208.99
  Dividend income on other strategic investments 25.38
83.64 280.31
 (Increase)/decrease in interest receivable (17.36) (23.04)
66.28 257.27
         
 Net cash flow from/(used in) investing activities (2,865.35) 1,754.54
         
III. Financing activities
 i) Interest expense (5.48) (2.10)
 ii) Change in sales tax deferral liability due to assessment (5.31)
 iii) Dividend, including interim dividend paid (8.73) (5,195.10)
 iii) Dividend, including interim dividend paid (1,049.31)
         
 Net cash flow from/(used in) financing activities (19.52) (6,246.51)
         
 Net change in cash and cash equivalents 228.99 (630.21)
         
 Cash and cash equivalents at the beginning of the year 277.33 905.38
 Add/(Less): Effects of exchange loss/(gain) on cash and cash equivalents (1.19) 2.16
 Cash and cash equivalents at the end of the year [See note 11] 505.13 277.33

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

Rahul Bajaj
Chairman

Rahul Bajaj
Chairman

per Arvind Sethi
Partner
Membership Number: 89802
Pune: 29 April 2021

Soumen Ray
Chief Financial Officer
Dr. J Sridhar
Company Secretary
Rahul Bajaj
Chairman
Madhur Bajaj
Vice Chairman

Statement of Cash Flows

( ₹ in Crore )
For the year ended 31 March
Particulars 2021 2020
         
I. Operating activities
 Profit before tax 5,939.00 6,580.20
 Adjustments to reconcile profit before tax to net cash flows:
 Add:
 i) Depreciation and amortisation 259.28 246.43
 ii) Loss on property, plant and equipment sold, demolished,
discarded and scrapped
13.10 13.70
 iii) Provision for doubtful debts and advances 16.15 22.01
 iv) Share based payment to employees 6.90 10.01
 v) Exchange loss/(gain) on cash and cash equivalents 1.19 (2.16)
 vi) Exchange loss/(gain) on trade receivables (6.01) (15.41)
 vii) Exchange loss/(gain) on import payables 0.10 (1.98)
 viii) Interest adjustment on Government grant 1.18 1.06
 ix) Interest expense 5.48 2.10
297.37 275.76
 Less:
 i) Investment income included in above:
   Interest income on fixed income securities 65.77 17.04
   Interest income on fixed deposits 17.87 28.90
   Interest income on exchange traded funds 76.85
   Interest income on fixed maturity plans 842.51 903.55
   Profit on sale of other investments, net 15.74 19.53
   Gain on valuation and realisation of mutual funds measured at    fair value through profit or loss 254.25 462.70
   Dividend income on investments in subsidiaries 208.99
   Dividend income on other strategic investments 25.38
   Amortisation of premium/discount on acquisition of fixed    income securities (5.57) 18.24
1,267.42 1,684.33
 ii) Provision for doubtful debts and advances written back (net) 0.54
 iii) Government grants 2.65 2.65
 iv) Surplus on sale of property, plant and equipment 1.94 5.28
(1,272.01) (1,692.80)
4,964.36 5,163.16
 Change in assets and liabilities
  i) (Increase)/decrease in inventories (430.39) (101.99)
  ii) (Increase)/decrease in trade receivables (1,001.89) 828.53
  iii) (Increase)/decrease in loans and other assets (561.50) 409.28
  iv) Increase/(decrease) in liabilities and provisions 1,483.32 (759.30)
(510.46) 376.52
 Annuity payments (net) to VRS/Welfare scheme optees (0.35) (0.26)
 Net cash flow from operating activities before income-tax 4,453.55 5,539.42
 Income-tax paid (1,339.69) (1,677.66)
         
 Net cash flow from/(used in) operating activities 3,113.86 3,861.76
         
II. Investing activities
 i) Investment in subsidiary (10.54)
 ii) Sale of investments 3,555.72 5,178.94
 iii) Purchase of investments (5,888.39) (3,517.96)
 iv) Sale/(purchase) of liquid mutual funds, etc., net (351.28) 166.96
 v) Investment in treasury shares by ESOP trust (5.52) (26.62)
 vi) (Increase)/decrease in other bank balances 8.71 (13.51)
 vii) Purchase of property, plant and equipment (including advances) (241.04) (282.81)
 viii) Sale proceeds of property, plant and equipment 5.70 16.74
 ix) Capital expenditure on development of technical know-how (15.53) (13.93)
(2,931.63) 1,497.27
 x) Investment income
  Interest income on fixed income securities 65.77 17.04
  Interest income on fixed deposits 17.87 28.90
  Dividend income on investments in subsidiaries 208.99
  Dividend income on other strategic investments 25.38
83.64 280.31
 (Increase)/decrease in interest receivable (17.36) (23.04)
66.28 257.27
         
 Net cash flow from/(used in) investing activities (2,865.35) 1,754.54
         
III. Financing activities
 i) Interest expense (5.48) (2.10)
 ii) Change in sales tax deferral liability due to assessment (5.31)
 iii) Dividend, including interim dividend paid (8.73) (5,195.10)
 iii) Dividend, including interim dividend paid (1,049.31)
         
 Net cash flow from/(used in) financing activities (19.52) (6,246.51)
         
 Net change in cash and cash equivalents 228.99 (630.21)
         
 Cash and cash equivalents at the beginning of the year 277.33 905.38
 Add/(Less): Effects of exchange loss/(gain) on cash and cash equivalents (1.19) 2.16
 Cash and cash equivalents at the end of the year [See note 11] 505.13 277.33

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

Rahul Bajaj
Chairman

Rahul Bajaj
Chairman

per Arvind Sethi
Partner
Membership Number: 89802
Pune: 29 April 2021

Soumen Ray
Chief Financial Officer
Dr. J Sridhar
Company Secretary
Rahul Bajaj
Chairman
Madhur Bajaj
Vice Chairman

Statement of Cash Flows

( ₹ in Crore )
For the year ended 31 March
Particulars 2021 2020
         
I. Operating activities
 Profit before tax 5,939.00 6,580.20
 Adjustments to reconcile profit before tax to net cash flows:
 Add:
 i) Depreciation and amortisation 259.28 246.43
 ii) Loss on property, plant and equipment sold, demolished,
discarded and scrapped
13.10 13.70
 iii) Provision for doubtful debts and advances 16.15 22.01
 iv) Share based payment to employees 6.90 10.01
 v) Exchange loss/(gain) on cash and cash equivalents 1.19 (2.16)
 vi) Exchange loss/(gain) on trade receivables (6.01) (15.41)
 vii) Exchange loss/(gain) on import payables 0.10 (1.98)
 viii) Interest adjustment on Government grant 1.18 1.06
 ix) Interest expense 5.48 2.10
297.37 275.76
 Less:
 i) Investment income included in above:
   Interest income on fixed income securities 65.77 17.04
   Interest income on fixed deposits 17.87 28.90
   Interest income on exchange traded funds 76.85
   Interest income on fixed maturity plans 842.51 903.55
   Profit on sale of other investments, net 15.74 19.53
   Gain on valuation and realisation of mutual funds measured at    fair value through profit or loss 254.25 462.70
   Dividend income on investments in subsidiaries 208.99
   Dividend income on other strategic investments 25.38
   Amortisation of premium/discount on acquisition of fixed    income securities (5.57) 18.24
1,267.42 1,684.33
 ii) Provision for doubtful debts and advances written back (net) 0.54
 iii) Government grants 2.65 2.65
 iv) Surplus on sale of property, plant and equipment 1.94 5.28
(1,272.01) (1,692.80)
4,964.36 5,163.16
 Change in assets and liabilities
  i) (Increase)/decrease in inventories (430.39) (101.99)
  ii) (Increase)/decrease in trade receivables (1,001.89) 828.53
  iii) (Increase)/decrease in loans and other assets (561.50) 409.28
  iv) Increase/(decrease) in liabilities and provisions 1,483.32 (759.30)
(510.46) 376.52
 Annuity payments (net) to VRS/Welfare scheme optees (0.35) (0.26)
 Net cash flow from operating activities before income-tax 4,453.55 5,539.42
 Income-tax paid (1,339.69) (1,677.66)
         
 Net cash flow from/(used in) operating activities 3,113.86 3,861.76
         
II. Investing activities
 i) Investment in subsidiary (10.54)
 ii) Sale of investments 3,555.72 5,178.94
 iii) Purchase of investments (5,888.39) (3,517.96)
 iv) Sale/(purchase) of liquid mutual funds, etc., net (351.28) 166.96
 v) Investment in treasury shares by ESOP trust (5.52) (26.62)
 vi) (Increase)/decrease in other bank balances 8.71 (13.51)
 vii) Purchase of property, plant and equipment (including advances) (241.04) (282.81)
 viii) Sale proceeds of property, plant and equipment 5.70 16.74
 ix) Capital expenditure on development of technical know-how (15.53) (13.93)
(2,931.63) 1,497.27
 x) Investment income
  Interest income on fixed income securities 65.77 17.04
  Interest income on fixed deposits 17.87 28.90
  Dividend income on investments in subsidiaries 208.99
  Dividend income on other strategic investments 25.38
83.64 280.31
 (Increase)/decrease in interest receivable (17.36) (23.04)
66.28 257.27
         
 Net cash flow from/(used in) investing activities (2,865.35) 1,754.54
         
III. Financing activities
 i) Interest expense (5.48) (2.10)
 ii) Change in sales tax deferral liability due to assessment (5.31)
 iii) Dividend, including interim dividend paid (8.73) (5,195.10)
 iii) Dividend, including interim dividend paid (1,049.31)
         
 Net cash flow from/(used in) financing activities (19.52) (6,246.51)
         
 Net change in cash and cash equivalents 228.99 (630.21)
         
 Cash and cash equivalents at the beginning of the year 277.33 905.38
 Add/(Less): Effects of exchange loss/(gain) on cash and cash equivalents (1.19) 2.16
 Cash and cash equivalents at the end of the year [See note 11] 505.13 277.33

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

Rahul Bajaj
Chairman

Rahul Bajaj
Chairman

per Arvind Sethi
Partner
Membership Number: 89802
Pune: 29 April 2021

Soumen Ray
Chief Financial Officer
Dr. J Sridhar
Company Secretary
Rahul Bajaj
Chairman
Madhur Bajaj
Vice Chairman