ICICI Bank 2003 Annual Report Download - page 114

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F50
cash flow statement
forming part of the Consolidated Accounts for the year ended March 31, 2003
SCHEDULE 19 – Consolidated Cash Flow Statement for the year ended March 31, 2003
(Rs. in ‘000)
Particulars 2002-2003 2001-2002
Cash Flow from Operating Activities
Net profit before taxes ........................................................................................ 7,958,489 2,899,912
Adjustments for :
Depreciation on fixed assets .............................................................................. 5,201,775 641,824
Net (appreciation)/depreciation on investments ................................................. 2,442,687 (137,397)
Provision in respect of non-performing assets (including prudential
provision on standard assets) ............................................................................. 14,822,615 2,682,876
Provision for contingencies & others .................................................................. 63,900 26,925
Loss on sale of fixed assets ............................................................................... 66,586 648
30,556,052 6,114,788
Adjustments for :
(Increase)/Decrease in Investments .................................................................... (7,299,473) (153,127,884)
(Increase)/Decrease in Advances ........................................................................ (74,839,746) 23,033,282
Increase/(Decrease) in Borrowings ..................................................................... (148,924,231) (14,704,074)
Increase/(Decrease) in Deposits .......................................................................... 157,335,842 157,069,011
(Increase)/Decrease in Other assets ................................................................... (16,595,338) (5,070,725)
Increase/(Decrease) in Other liabilities and provisions ...................................... 6,084,990 10,395,298
(84,237,956) 17,594,908
Payment of taxes (net) ........................................................................................ (7,053,848) (1,275,292)
Net Cash Generated from Operating Activities ............................................. (A) (60,735,752) 22,434,404
Cash flow from Investing Activities
Purchase of fixed assets ..................................................................................... (2,477,199) (244,187)
Proceeds from sale of fixed assets ................................................................... 103,423 7,282
Net Cash Generated from Investing Activities ............................................... (B) (2,373,776) (236,905)
Cash flow from Financing Activities
Proceeds from issue of share capital ................................................................ 315 —
Proceeds from issue of subordinated debt ....................................................... (17,882) 2,285,321
Dividend and dividend tax paid .......................................................................... (568) (971,283)
Net Cash Generated from Financing Activities .............................................. (C) (18,135) 1,314,038
Cash and Cash Equivalents on Amalgamation .............................................. (D) — 68,437,389
Effect of De-consolidation of Subsidiaries on Cash & Cash Equivalents ............ (E) (49,968) 788,801
Net Increase/(Decrease) in Cash and Cash Equivalents (A)+(B)+(C)+(D)+(E) (63,177,631) 92,737,727
Cash and Cash Equivalents as at April 1st ....................................................... 128,674,627 35,936,900
Cash and Cash Equivalents as at March 31st .................................................. 65,496,996 128,674,627
Cash and cash equivalents represent ‘Cash and balances with Reserve Bank of India’ and Balances with banks and money at call and short notice.
For and on behalf of the Board of Directors
N. VAGHUL K. V. KAMATH
Chairman Managing Director & CEO
LALITA D. GUPTE KALPANA MORPARIA
Joint Managing Director Executive Director
NACHIKET MOR CHANDA D. KOCHHAR
Executive Director Executive Director
S. MUKHERJI BALAJI SWAMINATHAN
Executive Director Senior General Manager
JYOTIN MEHTA N.S. KANNAN G. VENKATAKRISHNAN
Place : Mumbai General Manager & Chief Financial Officer & General Manager -
Date : April 25, 2003 Company Secretary Treasurer Accounting & Taxation Group
AUDITORS’ CERTIFICATE
We have verified the attached consolidated cash flow statement of ICICI BANK LIMITED which has been compiled from and is based on
the audited consolidated financial statements for the years ended March 31, 2003 and March 31, 2002. To the best of our knowledge
and belief and according to the information and explanations given to us, it has been prepared pursuant to the requirements of Listing
Agreements entered into by ICICI Bank with stock exchanges.
For N. M. RAIJI & CO. For S.R. BATLIBOI & CO.
Chartered Accountants Chartered Accountants
JAYESH M. GANDHI per VIREN H. MEHTA
Partner a Partner
Place : Mumbai
Date : April 25, 2003