Larsen & Toubro Limited - CASH FLOWS STATEMENT

Particulars Mar-16 Mar-17

A. Cash flow from operating activities:
Profit before tax from (excluding
exceptional items) from:
Continuing operations
Discontinued operations
Profit before tax including 5,695.34 5,863.87
discontinued operations (excluding
exceptional items)
Adjustments for:
Dividend received (1121.35) (1065.10)
Depreciation, amortisation, impairment 997.40 1,215.19
and obsolescence (net)
Exchange difference on items grouped 59.47 (67.40)
under financing/investing activities
Effect of exchange rate changes on cash 2.00 0.11
and cash equivalents
Expenditure on share buy back
Expenditure on demerger
Interest expense 1,476.82 1,316.91
Interest income (530.72) (539.31)
(Profit)/loss on sale of fixed assets (82.51) -23.70
(net)
(Profit)/loss on sale of investments (150.87) 72.44
(net) (including fair valuation)
Impairment of current investment
(Gain)/loss on derivatives at fair value 56.89
through Profit or Loss
Employee stock option-discount forming 60.34 61.77
part of employee benefits expense
Non-cash items related to discontinued
operations
Operating profit before working capital 6,405.92 6,891.67
changes
Adjustments for:
(Increase)/decrease in trade and other (7781.31) (1558.15)
receivables
(Increase)/decrease in inventories 305.65 192.26
Increase/(decrease) in trade payables and 5,985.83 1,973.38
customer advances
Cash (used in)/generated from operations 4,916.09 7,499.16
 Direct taxes refund/(paid) [net] (1616.23) (1519.47)
Net cash (used in)/from operating 3,299.86 5979.69
activities
B. Cash flow from investing activities:
Expenditure on acquisition of fixed (1087.23) (749.02)
assets
Sale of fixed assets (including advance 290.00 114.35
received)
Investment in subsidiaries, associates (2545.89) (3375.61)
and joint venture companies
Divestment of stake in subsidiaries, 2,289.55 3,348.24
associates and joint venture companies
Purchase of non-current investments
Sale of non-current investments 106.65
(Purchase)/sale of current investments 681.89 (2304.55)
(net)
Change in other bank balance and cash not (1261.18) (230.85)
available for immediate use
Deposits/Loans (given) - subsidiaries, (12498.99) (19180.19)
associates, joint venture companies and
third parties
Deposits/Loans repaid - subsidiaries, 9,790.42 20,430.65
associates, joint venture companies and
third parties
Advance towards equity commitment (5.25) (6.35)
(addition)
Advance towards equity commitment 1,070.15 5.25
refund
Interest received 446.58 830.53
Dividend received from subsidiaries and 994.16 384.72
joint venture companies
Dividend received from other investments 127.19 659.63

Settlement of derivative contracts (56.89)

related to current investments
Consideration received on transfer of 79.70 83.65
Foundry Business unit
Net cash (used in)/from investing (1522.25) (46.44)
activities
C. Cash flow from financing activities:
Proceeds from fresh issue of 70.19 53.32
share capital (including share
application money)[net]
 Proceeds from non-current 1,589.29 0.64
borrowings
Repayment of non-current (1420.79) (1397.62)
borrowings
(Repayments)/Proceeds from other 152.59 (1905.88)
borrowings (net)
Settlement of derivative contracts 170.51
related to borrowings
Interest paid on Lease Liability
Principal repayment on Lease
Liability
Dividends paid (1512.33) (1701.51)
Additional tax on dividend (134.69) (141.20)
Interest paid (including cash (1208.59) (1151.42)
flows from interest rate swaps)
Net cash (used in)/from financing (2464.33) (6073.16)
activities
Net (decrease)/increase in cash and cash (686.72) (139.91)
equivalents (A + B + C)
Cash and cash equivalents at 2,764.78 2,078.06
beginning of the year
Cash and cash equivalents for
discontinued operations (asset
held for sale)
Cash and cash equivalents at end of the year 2,078.06 1,938.15
NT (In Rs. Crores)
Mar-18 Mar-19 Mar-20

7,577.11 6,358.92
812.40 865.38
6,831.85 8,389.51 7,224.30

(3228.67) (1512.12) (1387.29)

1,049.46 999.55 1,020.51

(19.71) (78.95) (39.14)

1.66 3.64 (46.52)

17.38
71.49
1,432.23 1,787.62 2,266.56
(496.89) (474.85) (561.48)
(60.18) (594.25) 30.92

2233.22 (230.58) (503.71)

– 100.00
125.74 22.60 –

69.77 74.70 47.40

145.46 45.85

7,938.48 8,621.20 8,197.40

(12405.09) (8979.11) (6572.53)

(705.73) (296.63) (183.14)

9,757.85 5,898.28 173.27

4,585.51 5,243.74 1,615.00

(1633.70) (2687.32) (1736.30)
2,951.81 2,556.42 (121.30)

(1136.78) (1576.79) (1370.51)

123.32 785.22 61.50

(3420.51) (469.84) (10231.82)

1,068.38 3,835.36 734.53

(75.00) (17.49)
3.82 24.46
375.80 1,146.46 (788.79)

371.17 (3722.45) 4,226.96

(12708.16) (12740.83) (8901.99)

13,698.56 12,427.56 7,510.01

(19.45)

439.88 427.47 516.20

502.51 1,330.60 1,383.95

2,693.08 178.70 1.76

(125.74) (22.60)

1787.06 1585.19 (6833.74)

49.50 11.31 17.56

 1,922.70 789.41 6,617.46

(3794.12) (974.33) (4209.10)

1783.81 (616.54) 10804.33

149.31 308.95 308.29

(12.65)
(67.95)

(1960.76) (2243.18) (3929.61)

(317.93) (353.60) (229.22)
(1321.87) (1527.61) (1880.49)

(3489.36) (4605.59) 7,418.62

1249.51 (463.98) 463.58

1,938.24 3,187.75 2,723.77

(0.07)

3,187.75 2,723.77 3,187.28