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Shaping the future of software driven business
Consolidated Financials •
203
For the year ended
March 31, 2019
In
`
Million
March 31, 2018
In
`
Million
Net increase / (decrease) in cash and cash equivalents (A + B + C)
467.95
(218.11)
Cash and cash equivalents at the beginning of the year
1,345.13
1,462.58
Effect of exchange difference on translation of foreign currency cash and cash
equivalents
(71.36)
100.66
Cash and cash equivalents at the end of the year
1,741.72
1,345.13
Components of cash and cash equivalents
Cash on hand (Refer note 14)
0.22
0.23
Balances with banks
On current accounts # (Refer note 14)
1,300.93
1,196.91
On saving accounts (Refer note 14)
0.91
0.75
On Exchange Earner's Foreign Currency accounts (Refer note 14)
114.91
145.83
On deposit accounts with original maturity less than three months (Refer note 14)
229.54
-
On Escrow accounts** (Refer note 14)
92.94
-
On unpaid dividend accounts* (Refer note 15)
2.27
1.41
Cash and cash equivalents
1,741.72
1,345.13
# Out of the cash and cash equivalent balance as at March 31, 2019, the Group can utilise
`
2.15 million only towards research
and development activities specified in the agreement. There were no such restrictions for utilisation of the cash and cash
equivalent balance as at March 31, 2018.
* The Group can utilize these balances only towards settlement of the respective unpaid dividend.
**The Group can utilize these balances only towards buy back of equity shares.
Summary of significant accounting policies - Refer note 4
Consolidated Cash Flow Statement for the year ended March 31, 2019
The accompanying notes are an integral part of the consolidated financial statements.
As per our report of even date
For Deloitte Haskins & Sells LLP
For and on behalf of the Board of Directors of
Chartered Accountants
Persistent Systems Limited
ICAI Firm registration no. 117366W/W-100018
Hemant M. Joshi
Dr. Anand Deshpande
Kiran Umrootkar
Partner
Chairman and Managing Director
Director
Membership no. 038019
DIN: 00005721
DIN: 00326672
Sunil Sapre
Amit Atre
Executive Director and
Company Secretary
Chief Financial Officer
Membership No. A20507
DIN: 06475949
Place: Pune
Place: Pune
Date: April 27, 2019
Date: April 27, 2019