Statutory Reports
Corporate Overview
69th Annual Report 2013-14
82
Financial Statements
Cash and bank balances
were
`
29,711.79 crores, as at
March 31, 2014 compared to
`
21,114.82 crores as at March 31,
2013. The Company holds cash and bank balances in Indian Rupees,
GB£, and Chinese Renminbi etc. The cash balances include bank
deposits maturing within one year of
`
21,628.97 crores; compared
to
`
12,763.93 crores as at March 31, 2013. It included
`
3,354 crores
as at March 31, 2014 (
`
4,320 crores as at March 31, 2013) 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.
Consolidated Cash Flow
The following table sets forth selected items from consolidated
cash flow statement:
(
`
in crores)
FY 2013-14
FY 2012-13
Change
Cash from Operating Activities
36,151.16
22,162.61
13,988.55
Profit for the year
13,991.02
9,892.61
Adjustments for cash flow from
operations
20,694.06
14,512.93
Changes in working capital
5,774.41
(2.86)
Direct taxes paid
(4,308.33)
(2,240.07)
Cash used in Investing Activities
(29,893.02) (23,491.37)
(6,401.65)
Payment for Assets
(26,925.20)
(18,825.88)
Net investments, short term deposit,
margin money and loans given
(3,661.09)
(5,473.03)
Dividend and interest received
693.27
807.54
NetCashused inFinancingActivities (3,883.24)
(1,692.08)
(2,191.16)
Proceeds from issue of share to
minority shareholders
-
0.56
Dividend Paid (including paid to
minority shareholders
(721.97)
(1,550.57)
Interest paid
(6,170.56)
(4,665.57)
Net Borrowings (net of issue expenses)
3,009.29
4,523.50
Net increase / (decrease) in cash
and cash equivalent
2,374.90 (3,020.84)
Cash and cash equivalent, begining of
the year
12,350.97
14,849.89
Effect of exchange fluctuation on cash
flows
1,861.60
521.92
Cash and cash equivalent on
acquisition of subsidiary
40.51
-
Cash and cash equivalent, end of
the year
16,627.98
12,350.97
Analysis:
a.
Cash generated from operations before working capital
changes was
`
34,685.08 crores as compared to
`
24,405.53
crores in the previous year, representing an increase in cash
generated through consolidated operations, consistent
with the growth in revenue on a consolidated basis. After
considering the impact of working capital changes and
net movement of vehicle financing portfolio, the net cash
generated from operations was
`
40,459.59 crores as compared
to
`
24,402.66 crores in the previous year. The following factors
contributed to net increase in working capital for the year:-
Increase in trade and other assets amounting
`
3,254.09
crores mainly due to increase in sales to importers at JLR.
The above increases were offset by increase in trade
and other payables by
`
4,552.24 crores (due to revenue
growth) and net increase in provisions of
`
888.18 crores.
Decrease in inventories amounting to
`
2,852.55 crores
(mainly in finished goods) due to higher volumes /
activity at JLR.
b.
The net cash outflow from investing activity increased during
the current year to
`
29,893.02 crores from
`
23,491.38 crores
for the last year.
Capital expenditure was at
`
26,925.20 crores during the
year as against
`
18,825.88 crores for the last year, related
mainly to capacity / expansion of facilities, quality and
reliability projects and product development projects.
The change in net investments mainly represents
fixed/restricted deposits (net)
`
4,389.07 crores against
`
6,135.57 crores in the last year.
c.
The net change in financing activity was an outflow of
`
3,883.24 crores as compared to
`
1,692.09 crores for last year.
During FY 2013-14,
`
5,925.53 crores were raised from
long term borrowings (net) as compared to
`
5,525.25
crores. (Refer discussion below).
