ICICI Bank 2003 Annual Report Download - page 90

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F26
cash flow statement
for the year ended March 31, 2003
SCHEDULE 19 (Rs. in ‘000)
Particulars 2002-2003 2001-2002
CASH FLOW FROM OPERATING ACTIVITIES
Net profit before taxes ........................................................................................ 7,803,872 2,897,990
Adjustment for :
Depreciation on fixed assets .............................................................................. 5,059,415 640,913
Net (appreciation)/depreciation on investments ................................................. 3,094,311 (157,000)
Provision in respect of non-performing assets (including prudential provision
on standard assets) ............................................................................................. 14,749,848 2,682,900
Provision for contingencies & others .................................................................. 63,900 27,000
Loss on sale of fixed assets ............................................................................... 65,038 627
30,836,384 6,092,430
Adjustments for :
(Increase) / Decrease in Investments ................................................................. 1,193,485 (153,127,918)
(Increase) / Decrease in Advances ..................................................................... (74,578,831) 23,033,299
Increase / (Decrease) in Borrowings .................................................................. (149,162,389) (14,704,085)
Increase / (Decrease) in Deposits ....................................................................... 160,841,952 157,069,033
(Increase) / Decrease in Other assets ................................................................ (24,500,144) (5,070,756)
Increase / (Decrease) in Other liabilities and provisions ................................... 3,266,612 10,395,316
(82,939,315) 17,594,889
Payment of taxes (net) ........................................................................................ (6,438,190) (1,275,280)
Net cash generated from operating activities ................................................ (A) (58,541,121) 22,412,039
CASH FLOW FROM INVESTING ACTIVITIES
Purchase of fixed assets ..................................................................................... (4,516,874) (244,184)
Proceeds from sale of fixed assets ................................................................... 102,090 7,307
Net cash generated from investing activities ................................................. (B) (4,414,784) (236,877)
CASH FLOW FROM FINANCING ACTIVITIES
Proceeds from issue of share capital ................................................................ 315
Repayment of subordinated debt ....................................................................... (17,882) 2,285,354
Dividend and dividend tax paid .......................................................................... —(971,340)
Net cash generated from financing activities ................................................. (C) (17,567) 1,314,014
Cash and cash equivalents on amalgamation ................................................ (D) — 68,437,439
Net increase/(decrease) in cash and cash equivalents ................................. (A)+(B)+(C)+(D) (62,973,472) 91,926,615
Cash and cash equivalents as at April 1st ..................................................... 127,863,499 35,936,884
Cash and cash equivalents as at March 31st ................................................ 64,890,027 127,863,499
Cash and Cash equivalents represent ‘Cash and balance 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 cash flow statement of ICICI BANK LIMITED which has been compiled from and is based on the audited
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