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Business Overview Statutory Reports Financial Statements

Standalone Financial Statements

Cash Flow Statement


for the year ended 31st March, 2017

(` in Crores)
Particulars Year Year
2016-17 2015-16
(A) Cash Flow From Operating Activities
1SPmUCFGPSFUBY 2,658.05 2,403.10
Adjustments for:
Depreciation and amortisation expense 295.43 234.51
Interest income (21.54) (11.53)
Dividend income (76.91) (70.30)
Finance costs 18.86 23.40
Allowance for doubtful debts and advances 2.51 3.34
Bad debts written off 2.11 1.98
Income on prepayment of loan (3.54) -
Deferred income arising from government grant (0.62) -
Net unrealised foreign exchange loss/(gain) 1.84 (10.98)
Gain on sale of financial assets measured at fair value (15.45) (7.03)
through profit or loss (FVTPL)
Gain on sale of property, plant and equipment (net) (0.79) (10.37)
Net gain arising on financial assets measured at (49.40) (44.82)
FVTPL
Impairment loss on non-current investments - 65.35
0QFSBUJOH1SPmUCFGPSFXPSLJOHDBQJUBMDIBOHFT 2,810.55 2,576.65
Adjustments for :
(Increase) in trade receivables (240.57) (34.91)
(Increase) in financial assets (192.60) (98.98)
(Increase)/Decrease in inventories (583.97) 192.06
(Increase) in other assets (19.58) (7.67)
Increase in trade and other payables 465.74 98.33
Increase in provisions 15.46 15.15
Cash generated from Operating activities 2,255.03 2,740.63
Income Tax paid (net of refund) (843.43) (760.96)
Net Cash generated from Operating activities 1,411.60 1,979.67
(B) Cash Flow from Investing Activities
Purchase of Property, plant and equipment (611.48) (686.72)
Sale of Property, plant and equipment 1.81 12.22
Repayment of loan by subsidiary/(Loan given to 0.20 (0.20)
subsidiary)
Purchase of non-current investments - Subsidiaries (6.71) (143.17)
Purchase of non-current investments - others (70.00) (282.33)
Sale of non current investments 220.93 209.70
Purchase of term deposits (290.00) (70.04)
Proceeds from maturity of term deposits 70.00 -
Proceeds from sale of current investments (net) 2.91 22.85
Interest received 13.92 4.61
Dividend received from subsidiaries 5.08 3.05
Dividend received from others 71.83 67.25
Net Cash used in Investing activities (591.51) (862.78)

Annual Report 2016-17 | 115


Cash Flow Statement (Contd.)
for the year ended 31st March, 2017

(` in Crores)
Particulars Year Year
2016-17 2015-16
(C) Cash Flow from Financing Activities
Proceeds from non-current borrowings 7.89 5.90
Repayment of non-current borrowings (25.14) (7.48)
Acceptances (net) 13.16 65.75
Finance costs paid (22.58) (19.76)
Dividend and Dividend tax paid (913.58) (748.66)
Net Cash used in Financing activities (940.25) (704.25)
(D) Net (Decrease)/Increase in cash and cash (120.16) 412.64
equivalents (A+B+C):
Add: Cash and cash equivalents as at 1st April 1,276.49 863.85
Cash and cash equivalents as at 31st March 1,156.33 1,276.49

Notes:
(a) The above Cash Flow Statement has been prepared under the Indirect Method as set out in the Indian Accounting Standard
(Ind AS-7) - Statement of Cash Flow.
(` in Crores)
As At As At
31.03.2017 31.03.2016
(b) Cash and Cash Equivalents comprises of
Balances with Banks:
- Current Accounts 22.22 2.13
- Cash Credit Account 8.30 6.42
- Deposit with bank with maturity less than 3 months - 43.51
Cheques, draft on hand 30.79 24.63
Cash on hand 0.03 0.06
Cash and cash equivalents (Refer Note 11A) 61.34 76.75
Add: Investment in liquid mutual funds [Refer Note 4II (ii)] 1,121.82 1,199.74
Less: Bank Overdraft (Refer Note 15) (26.83) -
Cash and Cash equivalents in Cash Flow Statement 1,156.33 1,276.49

As per our report of even date attached For and on behalf of the Board of Directors of
Asian Paints Limited
CIN:L24220MH1945PLC004598

For B S R & Co. LLP For Deloitte Haskins & Sells LLP Ashwin Choksi K.B.S. Anand
Chartered Accountants Chartered Accountants Chairman Managing Director & CEO
F.R.N: 101248W/W-100022 F.R.N: 117366W/W-100018 DIN: 00009095 DIN:03518282

Bhavesh Dhupelia Shyamak R Tata M.K. Sharma Jayesh Merchant


Partner Partner Chairman of Audit Committee CFO & Company Secretary,
Membership No: 042070 Membership No: 038320 DIN:00327684 President - Industrial JVs

Mumbai, 11th May, 2017 Mumbai, 11th May, 2017 Mumbai, 11th May, 2017

116 | Asian Paints Limited