Financial Statements

The strength of our policies and practices has helped us demonstrate our success at converting achievements into shareholder value.

PROFIT & LOSS
PROFIT & LOSS

PROFIT & LOSS
BALANCE SHEET
BALANCE SHEET

BALANCE SHEET
CASH FLOW
CASH FLOW

CASH FLOW

Figures in INR millions	2010-11	2009-10
Income
Operating Income	3,991	4,871
Other Income	53	65
Total Income	4,045	4,937

Expenditure
Operating, General & Administrative Expenses	4,223	2,569
Increase / Decrease in Inventory	-2,392	410
Interest Expenses	1,020	908
Miscellaneous Expenses Written Off	---	---
Total Expenses	2,851	3,887

PBDT	1,194	1,049
Depreciation	54	46

Profit before Tax	1,140	1,003
Provision for taxation	351	53

Profit after Tax

789

950

Profit after Minority Interest

783

954

Proposed Dividend	114	82
Interim Dividend	---	53
Dividend on Preference Shares	0.16	0.16
Dividend Tax	19	23

Per share data (annualised)
No of shares for EPS	114	55
EPS Basic	7.03	10.12
EPS Diluted	7.02	9.98

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Figures in INR millions	As on 31-03-2011	As on 31-03-2010
Sources Of Funds
Equity Share Capital	1,141	551
Employee Stock Options	2	---
Warrant Money Received	---	95
Application Money Pending Allotment in Subsidiary	235	---
Reserves	8,269	7,842
Networth	9,648	8,489
Minority Interest	18	4
Secured Loans	6,847	6,000
Unsecured Loans	3,489	3,072
Total Loans	10,363	9,072
Deferred Tax Liability	574	512

Total Liabilities

20,603

18,076

Application of Funds
Gross Block	457	386
Less: Accum. Depreciation	157	110
Net Block	300	276
Capital Work in Progress	39	27
Net Fixed Assets	340	303
Investments	58	74
Deferred Tax Asset	39	---
Current Assets & Liabilities
Inventories	7,876	5,484
Sundry Debtors	4,932	4,630
Cash and Bank Balances	628	485
Loans and Advances	9,467	9,590
Total Current Assets, Loans & Advances	22,902	20,189
Current Liabilities	1,627	1,684
Provisions	1,109	806
Total CL & Provisions	2,736	2,490
Net Current Assets	20,116	17,669

Total Assets

20,603

18,076

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Figures in INR millions	2010-11	2009-10
A. Cash Flow from Operating Activities
Net Profit Before Tax	1,139.9	1,003.5
Adjustments For:
Depreciation	53.7	45.9
Amount Written Off	--	---
Interest expense	1,020.1	908.1
Profit / Loss on Sale of Assets	0.2	---
Employee Stock Options	2.4	---
Gain on sale of subsidiary	-1.1	---
Miscellaneous Expense Written Off	---	---
Income from Investment	-12.9	-12.6
Operating Profit Before Working Capital Changes	2,202.3	1,944.9
Adjustments For:
(Increase)/Decrease in Trade and Other Receivables	-49.1	-5,292.2
(Increase)/Decrease in Inventories	-2,391.6	409.9
Increase/(Decrease) in Trade Payables	-69.9	152.4
Cash Generated From Operations	-308.4	-2,784.9
Direct Taxes Paid	-195.7	-193.0
Net Cash from Operating Activities (A)	-504.1	-2,977.9

B. Cash Flow from Investing Activities
Purchase of Fixed Assets	-93.9	-120.4
Proceeds from sale of Fixed Assets	3.3	---
Purchase of shares of newly acquired Subsidiaries	-0.2	---
Sale of shares of newly acquired Subsidiary	1.2	---
Claim on Loss of Fixed Assets	---	0.1
Purchase of Investments	---	-73.5
Sale of Investments	27.0	---
Income of Investments	1.9	12.6
Cash Balance of newly acquired Subsidiary	0.0	---
Net cash (used in)/from Investing Activities (B)	-60.6	-181.3

C. Cash Flow from Financing Activities
Issue of Share Capital	20.0	187.1
Securities premium (net of issue expenses)	264.6	1,949.2
Share application money received in Subsidiary	235.0	---
Consideration received from Minority	---	15.0
Promoter Warrants Money received	---	94.9
Changes in borrowed funds (secured / unsecured)	1,086.0	2,368.3
Interest paid	-815.4	-917.5
Final Dividend of FY 09-10	-82.3	---
Interim Dividend of FY 09-10	---	-52.6
Final Dividend of FY 07-08	-0.0	-0.0
Preference Dividend FY 07-08	---	---
Interim Dividend of FY 07-08	---	---
Tax on Dividend of FY 07-08	---	-9.0
Net cash (used in)/from financing activities (C)	708.0	3,635.4

Net (decrease)/increase in cash and cash equivalents (A+B+C)	143.3	476.1
Cash and cash equivalents at the beginning of the year	484.8	8.7
Cash and cash equivalents at the end of the year	628.1	484.8

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