Page 68 - GlaxoSmithKline Pharmaceuticals AR 2012

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Biddle Sawyer Limited
Balance Sheet as at 31st December, 2012
Note
No
As at 31st
December,
2012
As at 31st
December,
2011
Rs. ’000 Rs. ’000
I. EQUITY AND LIABILITIES
(1) Shareholders’ Funds
Share Capital .. .. .. .. 2 96,00 96,00
Reserves and Surplus .. .. .. 3 43,46,89 62,41,64
(2) Non-Current Liabilities
Other Long term liabilities .. .. 4 1,35 1,35
Long-term provisions .. .. .. 5 1,25,33 1,25,33
(3) Current Liabilities
Trade payables .. .. .. .. 6 2,18,19 2,23,66
Other current liabilities .. .. .. 7 5,85 4,42
Short-term provisions .. .. .. 8 – 49,47
Total 47,93,61 67,41,87
II. ASSETS
(1) Non-current assets
Fixed assets .. .. .. .. 9 2,08 2,08
Deferred tax assets (net).. .. .. 10 18,04 17,34
Long term loans and advances.. .. 11 4,85,92 4,07,84
Other non-current assets.. .. .. 12 7,01,00 26,41,00
(2) Current assets
Inventories .. .. .. .. 13 3,10,22 3,29,62
Trade receivables .. .. .. 14 1,59,05 1,16,56
Cash and bank balances.. .. .. 15 27,99,54 30,27,42
Short-term loans and advances.. .. 16 2,39,01 71,71
Other current assets .. .. .. 17 78,75 1,28,30
Total 47,93,61 67,41,87
The accompanying notes are an integral part of these financial statements
As per our report of even date attached For and on behalf of the Board
For CORNELIUS & DAVAR Dr. Hasit B. Joshipura M. B. Kapadia
Firm Registration No. 101963W Chairman Director
Chartered Accountants
RUSTOM D. DAVAR
(Partner)
Membership No. F. 10620
Place : Mumbai
Date : 19th February, 2013
Profit and Loss Statement for the year ended 31st December, 2012
Note
No
Year
Ended 31st
December,
2012
Year
Ended 31st
December,
2011
Rs. ’000 Rs. ’000
Revenue from operations (Gross).. .. .. 21 22,42,42 41,33,89
Less: Excise duty .. .. .. .. .. 94,24 89,28
Revenue from operations (Net) .. .. .. 21,48,18 40,44,61
Other Income .. .. .. .. .. 22 2,83,38 3,65,89
Total Revenue .. .. .. .. .. 24,31,56 44,10,50
Expenses:
Cost of materials consumed .. .. .. 23 5,22,99 8,82,31
Purchase of Stock-in-Trade.. .. .. .. 31 35,72 1,94,82
Changes in inventories of finished goods,
work-in-progress and Stock-in-Trade .. ..
24 86,91 4,74
Other expenses .. .. .. .. .. 25 8,05,77 9,55,23
Total Expenses .. .. .. .. .. 14,51,39 20,37,10
Profit before tax .. .. .. .. .. 9,80,17 23,73,40
Tax expense:
Current tax .. .. .. .. .. 3,18,72 7,73,00
Deferred tax .. .. .. .. .. (70) 2,07
Profit for the period .. .. .. .. .. 6,62,15 15,98,33
Earnings per share (basic and diluted) (Rs.) .. 26 68.97 166.49
Face value of shares – Rs. 10 each
The accompanying notes are an integral part of these financial statements
As per our report of even date attached For and on behalf of the Board
For CORNELIUS & DAVAR Dr. Hasit B. Joshipura M. B. Kapadia
Firm Registration No. 101963W Chairman Director
Chartered Accountants
RUSTOM D. DAVAR
(Partner)
Membership No. F. 10620
Place : Mumbai
Date : 19th February, 2013
Cash Flow Statement for the year ended 31st December, 2012
Year
Ended 31st
December,
2012
Year
Ended 31st
December,
2011
Rs. ’000 Rs. ’000
a. CASH FLOW FROM OPERATING ACTIVITIES
Profit before tax .. .. .. .. .. 9,80,17 23,73,40
Adjustments for:
Interest income .. .. .. .. .. (2,83,08) (3,53,98)
Profit on sale of investments (net) .. .. – (11,90)
Operating profit before working capital changes 6,97,09 20,07,52
Adjustments for:
Inventories.. .. .. .. .. .. 19,40 72,04
Trade receivables.. .. .. .. .. (42,49) 53,38
Long-term loans and advances.. .. .. 11,00 44,90
Short-term loans and advances.. .. .. (1,67,30) (62,68)
Trade payables .. .. .. .. .. (5,48) 41,35
Other current liabilities .. .. .. .. 1,43 (2,64)
Cash generated from operations 5,13,65 21,53,87
Direct taxes paid (net of refunds) .. .. (4,57,27) (7,23,53)
Net cash from operating activities .. A 56,38 14,30,34
b. CASH FLOW FROM INVESTING ACTIVITIES
(Purchase)/sale of investments (net) .. .. – 5,28,00
(Purchase)/sale of bank deposits with maturity
period more than 12 months.. .. .. .. 19,40,00 (50,00)
Interest received .. .. .. .. .. 3,32,63 3,27,23
Net cash from/(used in) investing activities B 22,72,63 8,05,23
c. CASH FLOW FROM FINANCING ACTIVITIES
Dividend paid .. .. .. .. .. .. (22,00,00) (18,00,00)
Tax on Dividend .. .. .. .. .. (3,56,89) (2,98,96)
Net cash used in financing activities .. C (25,56,89) (20,98,96)
Net increase/(decrease) in cash and cash
equivalents .. .. .. .. .. (A+B) (2,27,88) 1,36,61
Cash and cash equivalents as at 1st January, 2012
(opening balance) .. .. .. .. .. 30,27,42 28,90,81
Cash and cash equivalents as at 31st December,
2012 (closing balance) .. .. .. .. 27,99,54 30,27,42
Net increase/(decrease) in cash and cash
equivalents .. .. .. .. .. .. (2,27,88) 1,36,61
NOTES:
1. Cash and cash equivalents include:
Cash and bank balances .. .. .. .. 27,99,54 30,27,42
Total cash and cash equivalents .. .. .. 27,99,54 30,27,42
2. The Cash Flow Statement has been prepared
under the “Indirect Method” as set out in
Accounting Standard-3 on Cash Flow Statements
issued by the Institute of Chartered Accountants
of India.
As per our report of even date attached For and on behalf of the Board
For CORNELIUS & DAVAR Dr. Hasit B. Joshipura M. B. Kapadia
Firm Registration No. 101963W Chairman Director
Chartered Accountants
RUSTOM D. DAVAR
(Partner)
Membership No. F. 10620
Place : Mumbai
Date : 19th February, 2013