Statement Of Cash Flows |
||||||||||
(₹ In Crore) |
||||||||||
Particulars |
For the year ended 31 March |
|||||||||
2023 |
2022 |
|||||||||
|
||||||||||
I. |
Operating activities |
|||||||||
Profit before tax |
7,408.64 |
6,505.33 |
||||||||
Adjustments to reconcile profit before tax to net cash flows: |
||||||||||
Add: |
||||||||||
i) |
Depreciation and amortisation |
282.44 |
269.17 |
|||||||
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 |
38.02 |
7.35 |
|||||||
384.77 |
300.11 |
|||||||||
Less: |
||||||||||
i) |
Investment income included in above: |
|||||||||
Interest income on fixed income securities |
306.99 |
275.05 |
||||||||
Interest income on fixed deposits |
61.05 |
36.42 |
||||||||
Interest income on exchange traded funds |
344.56 |
204.68 |
||||||||
Interest income on fixed maturity plans |
39.55 |
388.93 |
||||||||
Gain on valuation and realisation of mutual funds measured at fair value through profit or loss |
174.53 |
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) |
||||||||
971.93 |
1,157.38 |
|||||||||
ii) |
Government grants |
2.65 |
2.65 |
|||||||
iii) |
Exceptional item – PSI Scheme |
– |
315.28 |
|||||||
iv) |
Surplus on sale of property, plant and equipment |
111.56 |
21.59 |
|||||||
(1,086.14) |
(1,496.90) |
|||||||||
6,707.27 |
5,308.54 |
|||||||||
Change in assets and liabilities |
||||||||||
i) |
(Increase)/decrease in inventories |
(167.39) |
263.38 |
|||||||
ii) |
(Increase)/decrease in trade receivables |
(267.03) |
1,202.52 |
|||||||
iii) |
(Increase)/decrease in loans and other assets |
655.53 |
77.19 |
|||||||
iv) |
Increase/(decrease) in liabilities and provisions |
502.24 |
(942.20) |
|||||||
723.35 |
600.89 |
|||||||||
Annuity payments (net) to VRS/Welfare scheme optees |
(0.32) |
(0.32) |
||||||||
Net cash flow from operating activities before income-tax |
7,430.30 |
5,909.11 |
||||||||
Income-tax paid |
(1,918.41) |
(1,701.54) |
||||||||
|
||||||||||
Net cash flow from/(used in) operating activities |
5,511.89 |
4,207.57 |
||||||||
|
||||||||||
II. |
Investing activities |
|||||||||
i) |
Investment in subsidiary |
(538.00) |
(15.17) |
|||||||
ii) |
Sale of investments |
10,792.76 |
11,526.59 |
|||||||
iii) |
Purchase of investments |
(9,339.40) |
(11,083.79) |
|||||||
iv) |
Sale/(purchase) of liquid mutual funds, etc., net |
873.85 |
(209.44) |
|||||||
v) |
Investment in treasury shares by ESOP trust |
5.78 |
(37.37) |
|||||||
vi) |
(Increase)/decrease in other bank balances |
(41.96) |
(2.14) |
|||||||
vii) |
Purchase of property, plant and equipment (including advances) |
(943.31) |
(550.67) |
|||||||
viii) |
Sale proceeds of property plant and equipment |
136.90 |
33.07 |
|||||||
ix) |
Capital expenditure on development of technical know-how |
(35.73) |
– |
|||||||
910.89 |
(338.92) |
|||||||||
x) |
Investment income |
|||||||||
Interest income on fixed income securities |
306.99 |
275.05 |
||||||||
Interest income on fixed deposits |
61.05 |
36.42 |
||||||||
Dividend income on other strategic investments |
47.25 |
45.50 |
||||||||
415.29 |
356.97 |
|||||||||
|
||||||||||
(Increase)/decrease in interest receivable |
7.63 |
(114.00) |
||||||||
422.92 |
242.97 |
|||||||||
|
||||||||||
Net cash flow from/(used in) investing activities |
1,333.81 |
(95.95) |
||||||||
|
||||||||||
III. |
Financing activities |
|||||||||
i) |
Interest expense |
(38.02) |
(7.35) |
|||||||
ii) |
Equity share buy-back (incl. tax thereon) |
(3,093.88) |
– |
|||||||
iii) |
Dividend, including interim dividend paid |
(4,046.96) |
(4,048.98) |
|||||||
|
||||||||||
Net cash flow from/(used in) financing activities |
(7,178.86) |
(4,056.33) |
||||||||
|
||||||||||
Net change in cash and cash equivalents |
(333.16) |
55.29 |
||||||||
|
||||||||||
Cash and cash equivalents at the beginning of the year |
563.97 |
505.13 |
||||||||
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] |
219.42 |
563.97 |
The accompanying notes are an integral part of the financial statements. |
On behalf of the Board of Directors |
|
As per our report of even date |
||
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) |