Integrated Report & Annual Accounts 2018-19 I 74th Year

Consolidated Cash Flow Statement

(` in crores)
Year ended Year ended
March 31, 2019 March 31, 2018
Cash flows from operating activities:
Profit/(Loss) for the year (28,724.20) 9,091.36
Adjustments for:
Depreciation and amortisation expense 23,590.63 21,553.59
Allowances for finance receivables 320.24 43.30
Allowances for trade and other receivables 214.19 14.57
Inventory write-down 608.63 607.42
Provision for costs of closure of operations of a subsidiary company 381.01 -
Provision for impairment in Jaguar Land Rover 27,837.91 -
Defined benefit pension plan amendment past service cost/(credit) 147.93 (3,609.01)
Employee separation cost 1,367.22 -
Exceptional items- Others 109.27 (11.19)
Marked-to-market on investments measured at fair value through profit or loss (238.54) (32.05)
Loss on sale of assets/impairment (including assets scrapped/written off) (net) 1,106.56 2,382.55
Profit on sale of investments (net) (128.61) (129.26)
Profit on sale of investment in a subsidiary (376.98) -
Gain on fair value of below market interest loans (13.37) (6.02)
Fair value gain on disposal of joint venture - (19.06)
Share of profit of joint ventures and associates (net) (209.50) (2,278.26)
Tax expense (net) (2,437.45) 4,341.93
Finance costs 5,758.60 4,681.79
Interest income (786.46) (711.81)
Dividend income (17.28) (15.77)
Foreign exchange (gain) / loss (net) 252.63 (2,591.80)
Cash flows from operating activities before changes in following assets and liabilities 28,762.43 33,312.28
Finance receivables (10,063.79) (6,361.22)
Trade receivables 954.70 (4,326.58)
Loans and advances and other financial assets 230.13 (3,343.38)
Other current and non-current assets 294.88 151.25
Inventories 2,068.64 (3,560.43)
Trade payables and acceptances (4,683.69) 7,320.34
Other current and non-current liabilities 4,365.55 (4,756.95)
Other financial liabilities (30.01) 1,541.98
Provisions (348.66) 6,901.29
Cash generated from operations 21,550.18 26,878.58
Income tax paid (net) (2,659.43) (3,021.16)
Net cash from operating activities 18,890.75 23,857.42
Cash flows from investing activities:
Payments for property, plant and equipment (17,419.55) (19,865.43)
Payments for other intangible assets (17,883.97) (15,213.49)
Proceeds from sale of property, plant and equipment 67.23 30.30
Investments in Mutual Fund (purchased)/sold (net) 5,639.02 2,361.09
Excess of cash acquired on acquisition of subsidiary company - 14.45
Investment in equity accounted investees (9.31) (4.21)
Investments in others (130.01) (328.78)
Loans given to others (3.42) -
Loans given to joint ventures and associates (3.75) -
Proceeds from sale of investments in a subsidiary company 532.96 -
Proceeds from sale of investments in other companies 5.18 19.43
Interest received 760.52 690.47

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 Consolidated Cash Flow Statement

INTEGRATED REPORT (01-77)

(` in crores)
Year ended Year ended
March 31, 2019 March 31, 2018
Dividend received 17.28 15.77
Dividend received from equity accounted investees 214.98 1,781.64
Deposits with financial institution (500.03) -
Deposits/restricted deposits with banks (24,331.07) (48,260.05)
Realisation of deposits/restricted deposits with banks 33,342.59 52,557.20
(Increase) / decrease in short term Inter-corporate deposits (1.98) -
Payments for acquisition of minority stake of subsidiary (7.76) -
Net cash used in investing activities (19,711.09) (26,201.61)
Cash flows from financing activities:

STATUTORY REPORTS (78-195)

Proceeds from issue of shares held in abeyance (net of issue expenses) - 0.00*
Proceeds from long-term borrowings 26,101.86 15,145.21
Repayment of long-term borrowings (13,345.89) (10,587.25)
Proceeds from short-term borrowings 20,112.46 15,008.73
Repayment of short-term borrowings (21,852.13) (19,376.62)
Net change in other short-term borrowings (with maturity up to three months) 4,913.90 7,328.24
Dividend paid to non-controlling interests shareholders of subsidiaries (including dividend distribution tax) (94.74) (95.96)
Interest paid [including discounting charges paid `1,201.20 crores (March 31, 2018 `918.90 crores)] (7,005.09) (5,410.64)
Net cash from financing activities 8,830.37 2,011.71
Net increase / (decrease) in cash and cash equivalents 8,010.03 (332.48)
Cash and cash equivalents as at April 01, (opening balance) 14,716.75 13,986.76
Reversal of/(classified as) held for sale 243.94 (243.94)
Effect of foreign exchange on cash and cash equivalents (1,410.92) 1,306.41

FINANCIAL STATEMENTS (196-395)

Cash and cash equivalents as at March 31, (closing balance) 21,559.80 14,716.75

Non-cash transactions:
Liability towards property, plant and equipment and intangible assets purchased on credit/deferred credit 7,286.32 8,346.54
 Increase/(decrease) in liabilities arising from financing activities on account of non-cash transactions:
Exchange differences 1,120.15 2,768.03
Classified as held for sale - (142.55)
Amortisation of prepaid discounting charges 158.19 202.70

See accompanying notes to the consolidated financial statements

* less than `50,000/-

In terms of our report attached For and on behalf of the Board

For B S R & Co. LLP N CHANDRASEKARAN [DIN: 00121863] N MUNJEE [DIN:00010180] GUENTER BUTSCHEK [DIN: 07427375]
Chartered Accountants Chairman CEO and Managing Director
Firm’s Registration No: 101248W/W-100022 F S NAYAR [DIN:00003633]
S B BORWANKAR [DIN: 01793948]
V K JAIRATH [DIN:00391684] ED and Chief Operating Officer
YEZDI NAGPOREWALLA
Partner O P BHATT [DIN:00548091] P B BALAJI
Membership No. 049265 Group Chief Financial Officer
R SPETH [DIN:03318908]
H K SETHNA [FCS: 3507]
Directors Company Secretary

Mumbai, May 20, 2019 Mumbai, May 20, 2019

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