Atul Ltd 2011-12

63 Cash Flow Statement for the year ended March 31, 2012 (contd) ( ` cr) Particulars 2011-12 2010-11 (B) CASH FLOW FROM INVESTING ACTIVITIES Purchase of tangible assets (102.36) (44.43) Purchase of intangible assets (1.86) - Capital advances 0.49 (2.47) Investments in subsidiary companies (29.04) (6.83) Investments in associate companies - (1.47) Investments in joint venture companies (3.00) - Repayments | (disbursements) of loans 4.72 (7.47) Long-term bank deposits 0.88 (1.17) Short-term bank deposits (0.39) 2.96 Sale of fixed assets 6.42 2.72 Interest received 3.31 1.22 Dividend received 1.59 5.42 Net cash used in investing activities B (119.24) (51.52) (C) CASH FLOW FROM FINANCING ACTIVITIES Proceeds from long-term borrowings 20.84 (61.37) Add: Exchange rate difference (6.08) 0.94 Proceeds from long-term borrowings (adjusted) 14.76 (60.43) Proceeds from short-term borrowings 38.36 94.82 Total proceeds from borrowings 53.12 34.39 Payment of Unclaimed dividend (0.08) - Interest paid (37.04) (25.98) Dividend on Equity Shares (including dividend distribution tax) (15.42) (13.79) Net cash used in financing activities C 0.58 (5.38) Net change in cash and cash equivalents A+B+C 1.84 3.30 Opening balance - cash and cash equivalents 13.41 10.11 Closing balance - cash and cash equivalents 15.25 13.41 1.84 3.30 Notes to the Cash Flow Statement for the year ended March 31, 2012: 1. The Cash Flow Statement has been prepared under the ‘Indirect Method’ set out in Accounting Standard-3 ‘Cash Flow Statement’ referred to in The Companies Accounting Standard Rules, 2006. 2. In terms of Joint Venture Agreement with IB Industriechemie Beteiligungs GmbH, the Company has subscribed 2918750 shares at price of ` 21 each, by transferring technical know-how ( ` 1.63 cr), inventories ( ` 0.26 cr), trade receivables ( ` 1.24 cr) being non-cash consideration not considered in the above Cash Flow Statement. The remaining amount ( ` 3.00 cr) was paid in cash. As per our attached report of even date For and on behalf of the Board of Directors For Dalal & Shah Firm Registration No. 102020W Sunil S Lalbhai Chartered Accountants Chairman & Managing Director G S Patel S S Baijal B S Mehta H S Shah S Venkatesh S M Datta Partner R A Shah Samveg A Lalbhai Membership No. F-037942 T R Gopi Kannan V S Rangan Managing Director Mumbai President, Finance & B N Mohanan Mumbai May 15, 2012 Company Secretary Directors May 15, 2012