Exhibit 7.6
Pharmaceutical firms—statement of cash flows
Cash flow statement
Glaxo
Ranbaxy
Cipla
Sun
DRL
(Rs crore)
Dec-00
Dec-01
Dec-00
Dec-01
Mar-00
Mar-01
Mar-00
Mar-01
Mar-00
Mar-01
12
12
12
12
12
12
12
12
12
12
mths
mths
mths
mths
mths
mths
mths
mths
mths
mths
Sources of cash
Opening balance
19.75
45.82
48.81
84.31
3.54
4.27
8.5
4.35
18.88
29.54
Revenue inflow
108.64
146.95
247.65
345.25
169.94
234.99
115
158.91
91.91
245.41
Non-operating income
31.02
–86.22
38.06
1.7
14.83
13.3
–2
38.24
–3.95
2.43
Sale of fixed assets
1.14
40.98
3.23
0.53
3.29
2.75
1.97
1.16
0.17
7.09
Sale of investments
–3.99
–5.64
0.51
80.08
140.03
218.31
5.95
8.7
0
0
Capital proceeds
0
0
0
0
0
0
–0.61
0
0
0
Loan proceeds
14.15
0
0
0
0
4.48
0.84
0.66
63.7
20.81
Decrease in working capital
9.79
65.14
176.51
0
45.46
60.49
23.92
0
4.76
1.46
Trade receivables
0
32.96
0
0
0
60.49
23.92
0
0.62
0
Inventories
0
26.69
0
00000
4.14
0
Trade payables
9.79
5.49
176.51
0
45.46
0000
1.46
Total cash inflow
180.5
207.03
514.77
511.87
377.09
538.59
153.57
212.02
175.47
306.74
Application of cashPurchase of fixed assets
13.61
26.56
59.41
15.04
33.44
42.84
37.33
32.55
24.95
48.6
Purchase of investments
0
0
8.32
60
193.25
242.2
0
5.72
80.76
24.01
Repayment of loans
0
25.13
61.16
129.85
14.04
0
19.27
8.71
0
40.88
Loans to group companies
0
0
0
000000
–8.27
Loans to other companies
0
0
0
0
–17.8
0.42
0
0
0
0
Interest paid
11.52
10.44
63.01
48.93
1.14
0.83
10.41
7.66
14.07
41.84
Tax paid
35.16
42.61
24.12
21.27
56.73
66.01
5.36
10.25
10.28
27.23
Dividend paid
39.41
45.59
86.26
86.47
16.64
19.75
29.82
11.89
8.82
13.83
Other cash expenses
0
0
0
0
0
0
–0.15
16.35
4.64
0
Increase in working capital
64.64
0
128.18
93.09
75.38
160.73
47.18
108.33
10.04
99.19
Trade receivables
26.57
0
73.39
41.66
21.61
0
0
26.7
0
69.74
Inventories
38.07
0
54.79
42.25
53.77
63.16
22.27
75.59
0
29.45
Trade payables
0
0
0
9.18
0
97.57
24.91
6.04
10.04
0
Closing balance
16.16
56.7
84.31
57.22
4.27
5.81
4.35
10.56
21.91
19.43
Total cash outflow
180.5
207.03
514.77
511.87
377.09
538.59
153.57
212.02
175.47
306.74
Increase/decrease in cash balance
–3.59
10.88
35.5
–27.09
0.73
1.54
–4.15
6.21
3.03
–10.11
Cash flow before working capital charges
108.64
146.95
247.65
345.25
169.94
234.99
115
158.91
91.91
245.41
Cash flow from operations
53.79
212.09
295.98
252.16
140.02
134.75
91.74
50.58
86.63
147.68
Cash used in investing activity
16.46
–8.78
63.99
–5.57
65.57
64.4
29.26
44.76
110.18
57.25
Cash from financing activity
14.15
–25.13
–61.16
–129.85
–14.04
4.48
–19.04
–8.05
63.7
–20.07
Net increase in working capital
54.85
–65.14
–48.33
93.09
29.92
100.24
23.26
108.33
5.28
97.73