Annual Report 2016-17

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Annual Report 2016-17 • 239
Cash Flow Statement for the year ended March 31, 2017
For the year ended
March 31, 2017
In ` Million
March 31, 2016
In ` Million
Cash pows from onancing activities
(Repayment of) long term borrowings (4.57) (14.61)
Dividend paid (480.01) (1,039.51)
Interest paid (1.78) (0.44)
Tax on dividend paid (97.72) (211.73)
Net cash (used in) onancing activities (C) (584.08) (1,266.29)
Net (decrease) / increase in cash and cash equivalents (A + B + C) (50.79) 18.20
Cash and cash equivalents at the beginning of the year 500.47 485.74
Effect of exchange differences on translation of foreign currency cash and
cash equivalents
1.35 (3.47)
Cash and cash equivalents at the end of the year 451.03 500.47
Components of cash and cash equivalents
Cash on hand (Refer note 13) 0.08 0.15
Balances with banks
On current accounts # (Refer note 13) 238.41 130.82
On saving accounts (Refer note 13) 0.24 0.08
On Exchange Earner's Foreign Currency accounts (Refer note 13) 211.10 368.21
On unpaid dividend accounts* (Refer note 14) 1.20 1.21
Cash and cash equivalents 451.03 500.47
# Out of the balance, the Company can utilise ` 0.07 million (Previous year ` 1.19 million) only towards research and
development activities specioed in the loan agreement.
* The Company can utilize these balances only towards settlement of the respective unpaid dividend.
Summary of signiocant accounting policies - Refer note 3
The accompanying notes are an integral part of the onancial statements
As per our report of even date
For Deloitte Haskins & Sells LLP
ICAI Firm registration no. 117366W/W-100018
Chartered Accountants
For JOSHI APTE & CO
ICAI Firm registration no. 104370W
Chartered Accountants
For and on behalf of the Board of Directors of
Persistent Systems Limited
per Hemant M. Joshi
Partner
Membership no. 038019
per C. K. Joshi
Partner
Membership no. 030428
Dr. Anand Deshpande
Chairman and
Managing Director
Kiran Umrootkar
Director
Sunil Sapre
Chief Financial Ofocer
Amit Atre
Company Secretary
Place : Pune
Date : April 25,2017
Place : Pune
Date : April 25,2017
Place : Pune
Date : April 25,2017