Page 176 - Interloop Annual Report 2018-2019

CONSOLIDATED STATEMENT OF CONSOLIDATED STATEMENT OF

CASH FLOW CASH FLOW

FOR THE YEAR ENDED JUNE 30, 2019 FOR THE YEAR ENDED JUNE 30, 2019

2019 2018 2019 2018
Rupees in ‘000 Note Rupees in ‘000

c) CASH FLOWS FROM FINANCING ACTIVITIES
a) CASH FLOWS FROM OPERATING ACTIVITIES
Long term financing obtained 4,228,002 1,300,000
Profit before taxation 5,286,811 3,887,964 Repayment of long term financing (2,568,542) (1,112,483)
Payment of liabilities against assets subject to finance lease (847) (1,645)
Adjustments for: Short term borrowings - net (3,325,195) 7,544,364
Share capital issued 1,102,558 4,719
Depreciation 1,653,053 1,541,946 Share premium net of transaction cost 3,782,977 9,576
Amortization 9,182 10,427 Dividend paid (1,434,588) (475,276)
Employee share option compensation expense 5,031 4,188 Net cash generated from financing activities 1,784,365 7,269,255
Workers' profit participation fund 285,315 215,040
Staff retirement gratuity 527,598 417,798
Loss on disposal of property, plant and equipment 47,553 39,145 Net increase in cash and cash equivalents (a+b+c) 2,288,223 (36,108)
Loss on disposal of biological assets - 25,871 Cash and cash equivalents at the beginning of the year 195,939 232,047
Interest income on long term loan to SNGPL - (16) Cash and cash equivalents at the end of the year 42 2,484,162 195,939
Interest on loan to Metis International (Pvt) Ltd (7,211) (8,923)
Gain from changes in fair value less costs to sell of biological assets - (9,245)
Profit on TDR's (182) (225) The annexed notes 1 to 54 form an integral part of these financial statements.
Remeasurement loss on investment in mutual funds 20,787 10,908
Share of loss from associate 58,485 53,032
Loss on disposal/loss of control of subsidiary - 147,065
Interest on receivables from IL Bangla Limited (5,796) -
Finance cost 999,260 498,956
Operating cash flows before working capital changes 8,879,886 6,833,931
Changes in working capital
(Increase)/decrease in current assets
Feed, health and breeding - (5,674)
Stores and spares (111,206) (87,590)
Stock in trade (1,176,257) (1,555,837)
Trade debts (981,054) (2,479,990)
Loan and advances (449,947) 307,444
Deposit, prepayment and other receivables (23,340) 328,537
Tax refunds due from government 385,675 (309,415)
Short term investment in mutual funds - net (4,258) (5,447,852)
(Decrease)/Increase in current liabilities
Trade and other payables 803,363 860,769
(1,557,024) (8,389,608)
Cash generated from/(used in) operations 7,322,862 (1,555,677)

Finance cost paid (1,001,749) (444,189)
Income tax paid (244,341) (296,412)
Staff retirement gratuity paid (131,021) (153,266)
Workers' profit participation fund paid (232,068) (163,041)
Long term loans paid (21,549) (13,875)
Long term deposits (paid)/received (8,303) 3,880
Profit on TDRs received 182 225
Interest on loan to Metis International (Pvt) Ltd received - 6,521
Interest income received on long term loan to SNGPL - 16
Net cash generated from/(used in) operating activities 5,684,013 (2,615,818)

b) CASH FLOWS FROM INVESTING ACTIVITIES
Additions in:
Property, plant and equipment (5,278,596) (3,492,545)
Intangible asset (36,854) (5,899)
Advance for purchase of land - (23,897)
Proceeds from disposal of property, plant and equipment 135,295 66,452
Proceeds from deaths/disposal of biological assets - 62,987
Net cash disposed on disposal/loss of control of subsidiary - (1,212,779)
(83,864)
Long term investments (5,180,155) (4,689,545) 2018 - 19
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Interloop Limited Annual Report
Net cash used in investing activities

174 CHIEF EXECUTIVE OFFICER DIRECTOR CHIEF FINANCIAL OFFICER 175