Consolidated Statement of Cash Flows

	Group		Company
For the year ended 31 March	2024 Rs. ’000	2023 Rs. ’000	2024 Rs. ’000	2023 Rs. ’000
Cash flows from operating activities
Profit before tax for the year	8,071,886	5,660,640	1,974,740	1,251,075
Adjustments for:
Interest Income	(525,313)	(477,806)	(159,616)	(91,626)
Profit on disposal of property, plant and equipment	2,221	(25,722)	–	–
Biological assets – (gain)/loss from produce crop valuation	(10,558)	(14,455)	–	–
Impairment of intercompany loan	–	–	14,000	–
Impairment of investment in subsidiary	–	–	1,034	–
Impairment of goodwill	–	354,295	–	–
Gain on fair valuation of livestock	(29,431)	157,440	–	–
Interest expense	980,115	1,463,801	1,218	28,973
Depreciation of property, plant and equipment	771,098	787,998	28,113	25,050
Amortisation of intangible assets	92,214	87,055	–	5,269
Depreciation of mature plantations	179,312	196,741	–	–
Provision/(reversal) and write off for bad and doubtful debts	318,629	175,819	–	–
Provision/(reversal) and write-off for inventories	103,939	154,756	–	–
Write-off of intangible asset	–	(458)	–	–
Amortisation of capital grants	(2,358)	(2,358)	–	–
Amortisation of leasehold right to land	17,536	100,932	–	–
Fair value gain/(loss)	6,352	39,989	13,462	355
Provision for retirement benefit obligations	235,618	162,859	40,993	29,603
Rent concession	–	(4,605)	–	–
Timber fair valuation gain	–	(10,486)	–	–
Operating profit before working capital changes	10,211,260	8,806,433	1,913,944	1,248,698
Changes in:
Decrease/(increase) in inventories	(2,306,107)	(2,262,768)	1,587	(1,883)
Decrease/(increase) in trade and other receivables	(2,208,854)	(1,053,650)	(15,883)	108,596
Decrease/(increase) in amounts due from related parties	117,693	(106,254)	(38,122)	8,463
Increase/(decrease) in trade and other payables	1,179,565	6,143	63,187	(64,506)
Increase/(decrease) in amounts due to related parties	(55,000)	(10,728)	269	4
Cash generated from operating activities	6,938,557	5,379,176	1,924,982	1,299,372
Interest paid	(494,687)	(1,362,250)	(270)	(24,914)
Income tax paid	(2,226,550)	(1,944,113)	–	(103,702)
Employee benefits paid	(133,626)	(66,454)	–	–
Net cash from operating activities	4,083,694	2,006,359	1,924,712	1,170,756
Cash flows from investing activities
Interest received	525,313	477,806	143,359	67,152
(Investments)/disposal in other investments	882,237	72,714	–	–
(Investments)/disposal in short term investments	(1,540,386)	(366,293)	(574,364)	(25,000)
(Investment)/disposal of subsidiary	–	–	(500,000)	(1,440,000)
Investments in debentures	–	–	–	100,000
Investment in gratuity fund	9,000	19,030	–	–
Additions to bearer plants	(36,021)	(64,052)	–	–
Investment in live stock	(306,209)	(165,176)	–	–
Additions to property, plant and equipment	(709,789)	(1,502,498)	(5,973)	(1,332)
Acquisition of Intangible assets	(21,006)	(40,135)	–	–
Proceeds from sales of livestock	63,122	57,870	–	–
Proceeds from sale of property, plant and equipment	30,121	472,160	–	–
Acquisition of non-controlling interest in subsidiaries	–	(461,781)	–	–
Acquisition of subsidiaries (net of cash)	–	(1,563,684)	–	–
Disposal of shares held in subsidiary	93,000	–	–	–
Acquisition of investment property	(3,685)	(13,293)	–	–
Net cash used in from investing activities	(1,014,303)	(3,077,332)	(936,978)	(1,299,180)
Cash flows from financing activities
Receipts of interest bearing borrowings	4,195,897	13,702,041	–	771,000
Proceeds from share issued by subsidiary to NCI	–	196,000	–	–
Repayments of interest bearing borrowings	(2,958,226)	(12,467,823)	–	(771,000)
Payment of lease liabilities	(167,853)	(88,865)	(20,724)	(19,860)
Dividend paid	(2,422,963)	(1,616,668)	(1,057,744)	(245,987)
Net cash from financing activities	(1,353,145)	(275,315)	(1,078,468)	(265,846)
Net increase/(decrease) in cash and cash equivalents	1,716,246	(1,346,288)	(90,734)	(394,270)
Cash & cash equivalents at 1 April	1,001,633	2,347,210	814,025	1,208,295
Effect of movement in exchange rates	(3,335)	711	–	–
Cash and cash equivalents at 31 March	2,714,544	1,001,633	723,291	814,025

Figures in brackets indicate deductions.

The Accounting Policies and Notes 1 to 47 form an integral part of these Financial Statements.