Cash Flow Statement for the year ended 31st March, 2004
Cash flow statement Year ended Year ended
March 31' 2004 March 31' 2003
Rs. in lacs Rs. in lacs
A Cash flow from operating acivities
Net profit before tax        703.22   1,155.00
Adjustments for :
Depreciation     2,125.41   1,773.79
Miscellaneous expenditure written off              -          30.27
Amount wrtten off     1,678.15
Loan processing charges and front end fee paid         54.69             -  
Interest expense     2,453.01   3,320.86
Guarantee commission paid        123.62      181.36
Lease rent        899.01   1,006.10
Fixed assets written off              -               -  
Loss on sale of fixed assets (net)        435.34         8.37
Interest income        (14.98)       (27.86)
Income tax of earlier years              -         (17.28)
Operating profit before working capital changes     8,457.47   7,430.61
Adjustments for :
Trade and other receivables    (3,547.24)  (3,557.14)
Inventories        245.62     (181.92)
Trade & other payables       (960.56)   1,119.02
Cash generated from operations     4,195.29   4,810.57
Income - taxes (paid)       (190.51)        37.17
Net cash from operating activities     4,004.78   4,847.74
B Cash flow from investing acitivities
Purchase of fixed assets    (1,253.30)     (345.58)
Sale of fixed assets        558.66      358.55
Interest received         15.45        22.94
Net cash from investing activities       (679.19)        35.91
C Cash flow from financing activities
Repayment of preference share capital              -    (1,000.00)
Proceeds from borrowings   27,202.35   3,920.65
Repayments of borrowings  (26,075.70)  (3,155.34)
Change in working capital borrowings           0.05         1.11
Repayment of finance lease liabilities       (817.73)  (1,347.09)
Interest paid    (3,404.41)  (3,033.97)
Loan processing charges and front end fee paid        (54.69)             -  
Guarantee commission paid       (123.62)     (181.36)
Dividend paid              -       (125.00)
Corporate dividend tax paid              -               -  
Net cash from financing activities    (3,273.75)  (4,921.00)
Net increase / (decrease) in cash and cash equivalents         51.84       (37.35)
Cash and cash equivalents as at opening
     Cash on hand and balances with banks        498.55      535.90
Cash and cash equivalents as at closing
     Cash on hand and balances with banks        550.39      498.55
For S. S. KOTHARI MEHTA & Co.
Chartered Accountants
ARUN K TULSIAN                                                  R.S. CHEEMA  C.P. POONACHA
Partner                                                                   Managing Director  Director (F & C)
                                                                             DEEPAK SAWHNY  RAJENDRA CHOPRA
                                                                             Sr. General Manager (F)  Company Secretary