Cash Flow Statement: For The Year Ended December 31, 2015
Cash Flow Statement: For The Year Ended December 31, 2015
Cash Flow Statement: For The Year Ended December 31, 2015
Particulars of Employees | Extract of Annual Return | SA Report | Compliance Certificate | Financial Section | Notice
(M in million)
31.12.2015 31.12.2014
Cash flows from Operating activities
Net profit before tax 2,938.1 2,323.7
Adjustments:
Depreciation and amortisation 655.1 493.5
Finance costs 21.2 9.7
Unrealised exchange (gain) / loss (net) (93.7) 37.6
Interest income (488.3) (349.2)
(Gain) / loss on fixed assets sold (net) (0.1) 11.1
Provision for doubtful debts / advances 4.9 7.9
Debts / advances written off 2.0 15.5
Provision for Gratuity / leave encashment (9.5) 82.1
(write back) / charge
Provision for warranty 6.2
Provision no longer required written back - others (2.3) (2.3)
TDS on other Income (0.3)
95.5 305.6
Operating cash flow before changes in working capital 3,033.6 2,629.3
Increase in trade and other receivables (315.8) (21.1)
Increase in inventories (221.3) (203.1)
Increase / (Decrease) in trade and other payables 447.0 (508.7)
(90.1) (732.9)
Cash generated from operations 2,943.5 1,896.4
Income tax paid (net of refunds) (1,124.6) (722.6)
A Net cash generated from Operating activities 1,818.9 1,173.8
Cash flows from Investing activities
Purchase and construction of fixed assets (577.7) (405.2)
(tangible and intangible fixed assets) (see note below)
Proceeds from sale of fixed assets 2.3 4.2
Purchase of Investment (125.3)
(Investment in) / Maturity of fixed deposits (1,870.4) (1,820.0)
(Maturity of more than three months)
Interest received 349.9 266.6
B Net cash used in Investing activities (2,221.2) (1,954.4)
Cash flows from Financing activities
Finance costs paid (21.2) (9.7)
Dividends paid on equity shares (124.3) (99.5)
Tax paid on dividends (26.1) (16.9)
C Net cash used in Financing activities (171.6) (126.1)
Net (decrease) in cash and (573.9) (906.7)
cash equivalents (A + B + C)
Cash and cash equivalents at the beginning of period 1,199.9 2,106.6
(see note below)
Cash and cash equivalents acquired pursuant to merger 28.1
(refer note 44)
Cash and cash equivalents at the end of period 654.1 1,199.9
(see note below)
(573.9) (906.7)
Continued...
...Continued (M in million)
Notes:
(1) Purchase of fixed assets includes payments for items in capital work in progress and advances of capital nature.
(2) The amalgamation of FAG Roller Bearings Private Limited with the Company is a non cash transaction. (refer note 44)
(3) Cash and Cash equivalents comprise of:
31.12.2015 31.12.2014
Cheques on hand 120.7 75.0
With scheduled banks on:
Current accounts [includes Restricted balance of unpaid dividend M 4.3
(Previous year: M 4.0)] 533.4 544.9
Deposit accounts (maturity upto three months) 580.0
654.1 1,199.9
The notes referred to above form an integral part of the financial statements.
As per our report of even date attached For and on behalf of the Board of Directors of
For B S R & Co. LLP FAG Bearings India Limited
Chartered Accountants Avinash Gandhi Rajendra Anandpara
Firm's Reg. No. 101248W / W-100022 Chairman Managing Director
Vijay Mathur Satish Patel Raj Sarraf
Partner Chief Financial Officer Company Secretary
Membership No. 046476
Mumbai: February 12, 2016 Mumbai: February 12, 2016