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82
Sixty-Seventh Annual Report 2011-2012
Analysis:
a.
Cash generated from operations before working capital
changes was
`
22,432.34 crores as compared to
`
16,679.25
crores in the previous year, representing a strong increase
in cash generated through consolidated operations. After
considering the impact of working capital changes and
net movement of vehicle financing portfolio, the net cash
generated from operations was
`
20,152.26 crores as
compared to
`
12,631.35 crores in the previous year. The
Cash and bank balances were
`
18,238.13 crores, as at March
31, 2012 compared to
`
11,409.60 crores as at March 31, 2011.
The Company holds cash and bank balances in Indian Rupees,
GB£, and Chinese Renminbi etc. It includes
`
1,070.91 crores as
at March 31, 2012 held by a subsidiary that operates in a
country where exchange control restrictions potentially restrict
the balances being available for general use by Tata Motors
Limited and other subsidiaries.
Other short term loans and advances increased from
`
8,023.92
crores as at March 31, 2011 to
`
11,337.22 crores as at March 31,
2012. The increase is attributable to an increase in VAT, other
taxes recoverable statutory deposits and other dues from
government.
ConsolidatedCash Flow
The following table sets forth selected items from consolidated
cash flow statement:
(
`
in crores)
FY
2011-12
FY
Change
(a) Net cash from
operating activities 18,384.32 11,240.15 7,144.17
Profit for the year
13,516.50 9,273.62
Adjustments to
arrive at cash from
operations
8,915.84 7,406.13
Changes in working
capital
(2,280.08) (4,048.40)
Direct taxes paid
(1,767.94) (1,391.20)
(b) Net cash used in
investing activities (20,542.85) (7,285.49) (13,257.36)
Purchase of fixed
assets (Net)
(13,782.85) (8,112.77)
Net investments,
short term deposit,
margin money and
loans given
(6,993.25) 486.24
Investments in
subsidiary
companies
(304.33) (70.42)
Dividend and
interest received
537.58 411.46
(
`
in crores)
FY 2011-12
Change
(c) Net cash (used in)/
from financing
activities
6,567.18 (1,401.29)
7,968.47
Equity issuance
(Net of issue
expenses)
0.02 3,253.39
Proceeds from issue
of share to minority
shareholders
138.54
5.19
Dividend Paid
(1,503.11)
(1,019.53)
Interest paid
(3,373.69)
(2,469.07)
Net Borrowings (net
of issue expenses)
11,305.42 (1,171.27)
Net increase in cash
and cash equivalent 4,408.65 2,553.37 1,855.28
Effect of exchange
fluctuation on cash
flows
(1,078.96)
259.61
Cash and bank
balances on
acquisition / sale of
stake in subsidiaries
(net)
-
2.47
Cash and cash
equivalent,
beginning
of the year
9,345.41 6,529.96
Cash and cash
equivalent, end
of the year
14,833.02 9,345.41
2010-11
FY 2010-11