Historical Financial Statement - ITC L

Years Mar-14 Mar-15 Mar-16 Mar-17

# Income Statement
Sales ₹ 35,306.4 ₹ 38,817.2 ₹ 39,192.1 ₹ 42,767.6
Sales Growth - 9.94% 0.97% 9.12%

COGS ₹ 17,785.1 ₹ 19,688.4 ₹ 19,162.9 ₹ 21,949.1

COGS % Sales 50.37% 50.72% 48.89% 51.32%

Gross Profit ₹ 17,521.37 ₹ 19,128.77 ₹ 20,029.16 ₹ 20,818.48

Gross Margins 49.63% 49.28% 51.11% 48.68%

Selling & General Expenses ₹ 4,441.47 ₹ 4,877.15 ₹ 5,497.67 ₹ 5,348.97

S&G Exp % Sales 12.58% 12.56% 14.03% 12.51%

EBITDA ₹ 13,079.90 ₹ 14,251.62 ₹ 14,531.49 ₹ 15,469.51

EBITDA Margins 37.05% 36.71% 37.08% 36.17%

Interest ₹ 29.17 ₹ 90.96 ₹ 78.13 ₹ 49.03

Interest % Sales 0.08% 0.23% 0.20% 0.11%

Depreciation ₹ 964.92 ₹ 1,027.96 ₹ 1,077.40 ₹ 1,152.79

Depreciation%Sales 2.73% 2.65% 2.75% 2.70%

Earnings Before Tax ₹ 12,085.81 ₹ 13,132.70 ₹ 13,375.96 ₹ 14,267.69

EBT % Sales 34.23% 33.83% 34.13% 33.36%

Tax ₹ 4,060.9 ₹ 4,596.4 ₹ 5,358.2 ₹ 5,549.1

Effective Tax Rate 33.60% 35.00% 40.06% 38.89%

Net Profit ₹ 8,024.9 ₹ 8,536.3 ₹ 8,017.7 ₹ 8,718.6

Net Margins 22.73% 21.99% 20.46% 20.39%

No of Equity Shares 1192.98 1202.33 1207.08 1214.74

Earnings per Share ₹ 6.73 ₹ 7.10 ₹ 6.64 ₹ 7.18

EPS Growth % 5.55% -6.44% 8.06%

Dividend per Share ₹ 4.0 ₹ 4.2 ₹ 5.7 ₹ 4.8

Dividend payout ratio 59.46% 58.69% 85.31% 66.18%

Retained Earnings 40.54% 41.31% 14.69% 33.82%

# Balance Sheet
Equity Share Capital ₹ 795.3 ₹ 801.6 ₹ 804.7 ₹ 1,214.7
Reserves ₹ 26,441.6 ₹ 30,933.9 ₹ 41,874.8 ₹ 45,198.2
Borrowings ₹ 242.4 ₹ 268.8 ₹ 83.8 ₹ 45.7
Other Liabilities ₹ 13,369.0 ₹ 13,947.9 ₹ 8,888.0 ₹ 9,439.7
Total Liabilities ₹ 40,848.4 ₹ 45,952.2 ₹ 51,651.3 ₹ 55,898.3

Fixed Assets Net Block ₹ 12,921.3 ₹ 15,303.3 ₹ 15,106.6 ₹ 15,893.5

Capital Work in Progress ₹ 3,117.4 ₹ 2,700.2 ₹ 2,559.7 ₹ 3,729.9
Investments ₹ 7,284.0 ₹ 6,942.8 ₹ 11,747.6 ₹ 17,581.4
Other Assets ₹ 3,341.1 ₹ 2,540.8 ₹ 5,194.8 ₹ 5,135.8
Total Non Current Assets ₹ 26,663.8 ₹ 27,487.1 ₹ 34,608.8 ₹ 42,340.5

Receivables ₹ 2,439.2 ₹ 1,982.1 ₹ 1,917.2 ₹ 2,474.3

Inventory ₹ 8,255.2 ₹ 8,586.9 ₹ 9,062.1 ₹ 8,116.1
Cash & Bank ₹ 3,490.2 ₹ 7,896.2 ₹ 6,063.3 ₹ 2,967.4
Total Current Assets ₹ 14,184.6 ₹ 18,465.2 ₹ 17,042.6 ₹ 13,557.8

Total Assets ₹ 40,848.4 ₹ 45,952.2 ₹ 51,651.3 ₹ 55,898.3

Check 1 TRUE TRUE TRUE

# Cash Flow Statements

Operating Activities
Profit from operations ₹ 13,172.0 ₹ 14,261.0 ₹ 15,154.0 ₹ 16,075.0
Receivables (₹ 1,546.0) ₹ 558.0 (₹ 207.0) (₹ 870.0)
Inventory (₹ 755.0) (₹ 505.0) (₹ 693.0) ₹ 593.0
Payables ₹ 456.0 (₹ 23.0) ₹ 622.0 ₹ 321.0
Loans Advances - - - -
Other WC items - - - -
Working capital changes (₹ 1,844.0) ₹ 31.0 (₹ 277.0) ₹ 44.0
Direct taxes (₹ 3,984.0) (₹ 4,449.0) (₹ 5,078.0) (₹ 5,492.0)
Cash from Operating Activities ₹ 5,499.0 ₹ 9,873.0 ₹ 9,521.0 ₹ 10,671.0

Investing Activities
Fixed assets purchased (₹ 2,887.0) (₹ 3,300.0) (₹ 2,348.0) (₹ 3,122.0)
Fixed assets sold ₹ 38.0 ₹ 9.0 ₹ 8.0 ₹ 50.0
Investments purchased (₹ 94,242.0) (₹ 98,742.0) (₹ 154,081.0) (₹ 85,683.0)
Investments sold ₹ 93,293.0 ₹ 99,658.0 ₹ 150,651.0 ₹ 81,034.0
Interest received ₹ 374.0 ₹ 559.0 ₹ 741.0 ₹ 756.0
Dividends received ₹ 192.0 ₹ 268.0 ₹ 64.0 ₹ 4.0
Invest in subsidiaries - - (₹ 8.0) -
Investment in group cos - - - -
Redemp n Canc of Shares - - - ₹ 129.0
Acquisition of companies (₹ 21.0) (₹ 3,728.0) ₹ 1,052.0 ₹ 3,579.0
Inter corporate deposits - - - -
Other investing items - - - -
Cash from Investing Activities (₹ 3,253.0) (₹ 5,276.0) (₹ 3,921.0) (₹ 3,253.0)

Financing Activities
Proceeds from shares ₹ 691.0 ₹ 979.0 ₹ 532.0 ₹ 1,067.0
Redemption of debentures - - - -
Proceeds from borrowings ₹ 156.0 ₹ 7.0 - -
Repayment of borrowings (₹ 15.0) (₹ 20.0) (₹ 13.0) (₹ 13.0)
Proceeds from deposits - - - -
Interest paid fin (₹ 48.0) (₹ 16.0) (₹ 28.0) (₹ 25.0)
Dividends paid (₹ 4,239.0) (₹ 4,876.0) (₹ 5,133.0) (₹ 6,994.0)
Financial liabilities - - - -
Other financing items (₹ 667.0) (₹ 734.0) (₹ 971.0) (₹ 1,335.0)
Cash from Financing Activities (₹ 4,122.0) (₹ 4,660.0) (₹ 5,613.0) (₹ 7,300.0)

Net Cash Flow (₹ 1,876.0) (₹ 63.0) (₹ 13.0) ₹ 118.0

istorical Financial Statement - ITC LTD
Mar-18 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 LTM

₹ 43,448.9 ₹ 48,339.6 ₹ 49,387.7 ₹ 49,257.5 ₹ 60,644.5 ₹ 70,919.0 ₹ 70,278.3

1.59% 11.26% 2.17% -0.26% 23.12% 16.94% -0.90%

₹ 21,967.5 ₹ 24,216.0 ₹ 24,330.4 ₹ 26,881.5 ₹ 34,053.1 ₹ 38,302.1 ₹ 43,825.3

50.56% 50.10% 49.26% 54.57% 56.15% 54.01% 62.36%

₹ 21,481.44 ₹ 24,123.63 ₹ 25,057.30 ₹ 22,375.94 ₹ 26,591.48 ₹ 32,616.90 ₹ 26,453.01

49.44% 49.90% 50.74% 45.43% 43.85% 45.99% 37.64%

₹ 4,960.85 ₹ 5,586.24 ₹ 5,713.76 ₹ 5,311.16 ₹ 5,968.33 ₹ 6,912.64

11.42% 11.56% 11.57% 10.78% 9.84% 9.75% 0.00%

₹ 16,520.59 ₹ 18,537.39 ₹ 19,343.54 ₹ 17,064.78 ₹ 20,623.15 ₹ 25,704.26 ₹ 28,872.14

38.02% 38.35% 39.17% 34.64% 34.01% 36.24% 41.08%

₹ 115.01 ₹ 71.40 ₹ 81.38 ₹ 57.97 ₹ 59.99 ₹ 77.77 ₹ 41.13

0.26% 0.15% 0.16% 0.12% 0.10% 0.11% 0.06%

₹ 1,236.28 ₹ 1,396.61 ₹ 1,644.91 ₹ 1,645.59 ₹ 1,732.41 ₹ 1,809.01 ₹ 1,804.01

2.85% 2.89% 3.33% 3.34% 2.86% 2.55% 2.57%

₹ 15,169.30 ₹ 17,069.38 ₹ 17,617.3 ₹ 15,361.2 ₹ 18,830.7 ₹ 23,817.5 ₹ 27,027.0

34.91% 35.31% 35.67% 31.19% 31.05% 33.58% 38.46%

₹ 5,916.4 ₹ 6,313.9 ₹ 4,441.8 ₹ 4,555.3 ₹ 5,237.3 ₹ 6,438.4 ₹ 6,841.9

39.00% 36.99% 25.21% 29.65% 27.81% 27.03% 25.31%

₹ 9,252.9 ₹ 10,755.5 ₹ 13,175.5 ₹ 10,805.9 ₹ 13,593.4 ₹ 17,379.1 ₹ 20,185.1

21.30% 22.25% 26.68% 21.94% 22.41% 24.51% 28.72%

1220.43 1225.86 1229.22 1230.88 1232.33 1242.8 1242.8

₹ 7.58 ₹ 8.77 ₹ 10.72 ₹ 8.78 ₹ 11.03 ₹ 13.98 ₹ 16.24

5.63% 15.72% 22.17% -18.10% 25.65% 26.77% 16.15%

₹ 5.1 ₹ 5.8 ₹ 10.1 ₹ 10.7 ₹ 11.5 ₹ 15.5 -

67.93% 65.54% 94.70% 122.45% 104.25% 110.84% 0.00%

32.07% 34.46% 5.30% 0.00% 0.00% 0.00% 100.00%

 ₹ 1,220.4 ₹ 1,225.9 ₹ 1,229.2 ₹ 1,230.9 ₹ 1,232.3 ₹ 1,242.8
₹ 51,289.7 ₹ 57,915.0 ₹ 64,044.0 ₹ 59,116.5 ₹ 61,223.2 ₹ 67,912.5
₹ 35.9 ₹ 13.4 ₹ 277.5 ₹ 270.8 ₹ 249.4 ₹ 306.0
₹ 11,694.9 ₹ 12,584.7 ₹ 11,760.0 ₹ 13,142.6 ₹ 14,491.0 ₹ 16,369.7
₹ 64,240.9 ₹ 71,739.0 ₹ 77,310.8 ₹ 73,760.8 ₹ 77,196.0 ₹ 85,831.0

₹ 16,524.0 ₹ 19,374.2 ₹ 21,713.3 ₹ 23,298.5 ₹ 24,231.6 ₹ 25,851.3

₹ 5,508.3 ₹ 4,136.4 ₹ 3,256.5 ₹ 4,011.3 ₹ 3,225.5 ₹ 3,003.3
₹ 22,052.9 ₹ 25,043.5 ₹ 28,663.4 ₹ 24,870.9 ₹ 24,841.0 ₹ 29,415.0
₹ 7,078.7 ₹ 7,138.1 ₹ 4,958.4 ₹ 4,022.2 ₹ 6,917.4 ₹ 7,953.8
₹ 51,163.9 ₹ 55,692.2 ₹ 58,591.6 ₹ 56,202.9 ₹ 59,215.6 ₹ 66,223.4

₹ 2,682.3 ₹ 4,035.3 ₹ 2,562.5 ₹ 2,501.7 ₹ 2,461.9 ₹ 2,956.2

₹ 7,495.1 ₹ 7,859.6 ₹ 8,879.3 ₹ 10,397.2 ₹ 10,864.2 ₹ 11,771.2
₹ 2,899.6 ₹ 4,152.0 ₹ 7,277.3 ₹ 4,659.0 ₹ 4,654.4 ₹ 4,880.2
₹ 13,077.0 ₹ 16,046.9 ₹ 18,719.2 ₹ 17,557.9 ₹ 17,980.5 ₹ 19,607.5

₹ 64,240.9 ₹ 71,739.0 ₹ 77,310.8 ₹ 73,760.8 ₹ 77,196.0 ₹ 85,831.0

TRUE TRUE TRUE TRUE TRUE TRUE

₹ 17,433.0 ₹ 18,862.0 ₹ 19,416.0 ₹ 17,326.0 ₹ 20,857.0 ₹ 25,895.0

(₹ 964.0) (₹ 755.0) ₹ 1,411.0 (₹ 66.0) (₹ 732.0) (₹ 884.0) ₹ 5,499.0
₹ 602.0 (₹ 359.0) (₹ 508.0) (₹ 1,460.0) (₹ 466.0) (₹ 941.0)
₹ 2,098.0 ₹ 639.0 (₹ 607.0) ₹ 1,112.0 ₹ 1,099.0 ₹ 1,058.0
- - - - - -
- - - - - -
₹ 1,736.0 (₹ 476.0) ₹ 296.0 (₹ 413.0) (₹ 100.0) (₹ 767.0)
(₹ 6,000.0) (₹ 5,803.0) (₹ 5,023.0) (₹ 4,387.0) (₹ 4,982.0) (₹ 6,250.0)
₹ 14,905.0 ₹ 12,108.0 ₹ 14,985.0 ₹ 12,112.0 ₹ 15,676.0 ₹ 18,111.0

(₹ 2,878.0) (₹ 3,169.0) (₹ 2,441.0) (₹ 1,837.0) (₹ 2,142.0) (₹ 2,743.0)

₹ 80.0 ₹ 28.0 ₹ 27.0 ₹ 3.0 ₹ 133.0 ₹ 49.0
(₹ 98,330.0) (₹ 94,187.0) (₹ 79,835.0) (₹ 57,553.0) (₹ 69,776.0) (₹ 80,932.0)
₹ 95,017.0 ₹ 92,454.0 ₹ 75,835.0 ₹ 62,797.0 ₹ 70,992.0 ₹ 77,230.0
₹ 736.0 ₹ 1,184.0 ₹ 1,513.0 ₹ 1,275.0 ₹ 1,035.0 ₹ 1,324.0
₹ 13.0 ₹ 13.0 ₹ 17.0 ₹ 7.0 ₹ 16.0 ₹ 19.0
- - - - - -
- - - (₹ 2.0) (₹ 2.0) (₹ 2.0)
₹ 18.0 ₹ 18.0 - - - ₹ 56.0
(₹ 1,769.0) (₹ 1,887.0) (₹ 1,290.0) ₹ 1,051.0 (₹ 2,494.0) (₹ 733.0)
- - - - - -
- - - - - -
(₹ 7,113.0) (₹ 5,546.0) (₹ 6,174.0) ₹ 5,741.0 (₹ 2,238.0) (₹ 5,732.0)

₹ 913.0 ₹ 969.0 ₹ 625.0 ₹ 291.0 ₹ 292.0 ₹ 2,477.0

- - - - - -
₹ 11.0 - - - - -
(₹ 8.0) (₹ 18.0) (₹ 3.0) (₹ 2.0) (₹ 1.0) (₹ 1.0)
- - - - - -
(₹ 49.0) (₹ 98.0) (₹ 44.0) (₹ 41.0) (₹ 40.0) (₹ 41.0)
(₹ 5,952.0) (₹ 6,519.0) (₹ 7,302.0) (₹ 18,881.0) (₹ 13,788.0) (₹ 15,418.0)
- - (₹ 49.0) (₹ 55.0) (₹ 59.0) (₹ 59.0)
(₹ 1,136.0) (₹ 1,203.0) (₹ 1,409.0) ₹ 55.0 ₹ 15.0 ₹ 35.0
(₹ 6,221.0) (₹ 6,869.0) (₹ 8,182.0) (₹ 18,633.0) (₹ 13,581.0) (₹ 13,007.0)

₹ 1,571.0 (₹ 307.0) ₹ 629.0 (₹ 780.0) (₹ 143.0) (₹ 628.0)

COMPANY NAME ITC LTD
LATEST VERSION 2.10 PLEASE DO NOT MAKE A
CURRENT VERSION 2.10

META
Number of shares 1,247.09
Face Value 1
Current Price 439.25
Market Capitalization 547784.92

PROFIT & LOSS 14,911.32

Report Date Mar-14 Mar-15 Mar-16 Mar-17 Mar-18
Sales 35306.43 38817.15 39192.1 42767.6 43448.94
Raw Material Cost 13353.03 15007.9 13763.88 15456.59 14827.72
Change in Inventory 112.74 235.72 195.38 -592.57 -1027.76
Power and Fuel 644.96 610.67 571.88 584.33 653.5
Other Mfr. Exp 1395.57 1533.25 1581.59 1683.9 1697.62
Employee Cost 2504.24 2772.28 3440.97 3631.73 3760.9
Selling and admin 3361.2 3876.19 4261.78 4179.74 3954.87
Other Expenses 1080.27 1000.96 1235.89 1169.23 1005.98
Other Income 965.74 1229.35 1483.11 1758.63 2239.81
Depreciation 964.92 1027.96 1077.4 1152.79 1236.28
Interest 29.17 90.96 78.13 49.03 115.01
Profit before tax 13051.55 14362.05 14859.07 16026.32 17409.11
Tax 4060.93 4596.42 5358.21 5549.09 5916.43
Net profit 8891.38 9663.17 9344.45 10289.44 11271.2
Dividend Amount 4771.92 5009.69 6840.12 5770.02 6285.21
Effective Tax Rate 31% 32% 36% 35% 34%

EBITDA 13,946.40 15,378.51 15,858.19 17,040.35 18,538.92

Quarters
Report Date Jun-21 Sep-21 Dec-21 Mar-22 Jun-22
Sales 13247.25 13757.15 17108.16 16555.53 18489.45
Expenses 8803.51 8739.55 11510.49 10956.13 12412.32
Other Income 447.04 468.77 421.92 498.62 320.73
Depreciation 414.13 421.73 429.59 466.96 438.12
Interest 9.34 9.75 9.56 10.71 9.25
Profit before tax 4467.31 5054.89 5580.44 5620.35 5950.49
Tax 1123.87 1291.16 1461.64 1360.67 1488.24
Net profit 3276.48 3713.76 4056.73 4195.69 4389.76
Operating Profit 4443.74 5017.6 5597.67 5599.4 6077.13
EBITDA 4,823.82 5,436.40 5,957.52 6,034.03 6,325.37

BALANCE SHEET
Report Date Mar-14 Mar-15 Mar-16 Mar-17 Mar-18
Equity Share Capital 795.32 801.55 804.72 1214.74 1220.43
Reserves 26441.64 30933.94 41874.8 45198.19 51289.68
Borrowings 242.41 268.8 83.78 45.72 35.92
Other Liabilities 13369.04 13947.93 8888.04 9439.67 11694.85
Total 40848.41 45952.22 51651.34 55898.32 64240.88
Net Block 12921.3 15303.28 15106.63 15893.48 16523.96
Capital Work in Progress 3117.37 2700.2 2559.72 3729.89 5508.33
Investments 7284.02 6942.77 11747.59 17581.38 22052.86
Other Assets 17525.72 21005.97 22237.4 18693.57 20155.73
Total 40848.41 45952.22 51651.34 55898.32 64240.88
Receivables 2439.21 1982.07 1917.18 2474.29 2682.29
Inventory 8255.24 8586.87 9062.1 8116.1 7495.09
Cash & Bank 3490.19 7896.22 6063.3 2967.4 2899.6
No. of Equity Shares 7953182950 8015519541 8047206991 12147383071 12204294911
New Bonus Shares ###
Face value 1 1 1 1 1

CASH FLOW:
Report Date Mar-14 Mar-15 Mar-16 Mar-17 Mar-18
Cash from Operating Activity 7343.58 9843.2 9799.04 10627.31 13169.4
Cash from Investing Activity -3254.08 -5275.43 -3920.73 -3250.93 -7113.89
Cash from Financing Activity -4121.54 -4661.03 -5612.52 -7301.03 -6221.13
Net Cash Flow -32.04 -93.26 265.79 75.35 -165.62

PRICE: 235.23 217.23 218.83 280.3 255.5

DERIVED:
Adjusted Equity Shares in Cr 1,192.98 1,202.33 1,207.08 1,214.74 1,220.43
PLEASE DO NOT MAKE ANY CHANGES TO THIS SHEET

26,295.64
Mar-19 Mar-20 Mar-21 Mar-22 Mar-23
48339.58 49387.7 49257.45 60644.54 70919.03
17623.52 18048.6 20776.71 27071.07 29364.36
203.19 703.13 645.27 686 358.59
746.73 780.85 699.56 889.77 1232.34
1871.01 1908.29 1587.18 1887.67 2327.8
4177.88 4295.79 4463.33 4890.55 5736.22
4546.39 4488.63 4236.77 4858.38 5604.08
1039.85 1225.13 1074.39 1109.95 1308.56
2080.44 2417.32 2576.95 1909.72 2097.64
1396.61 1644.91 1645.59 1732.41 1809.01
71.4 81.38 57.97 59.99 77.77
19149.82 20034.57 17938.17 20740.47 25915.12
6313.92 4441.79 4555.29 5237.34 6438.4
12592.33 15306.23 13161.19 15242.66 19191.66
7048.7 12476.58 13231.96 14171.8 19263.4
33% 22% 25% 25% 25%

20,374.26 21,474.31 19,420.04 22,272.40 27,516.84

Sep-22 Dec-22 Mar-23 Jun-23 Sep-23

17107.99 17704.52 17634.89 17164.46 17774.47
10848.89 10999.82 11010.89 10494.39 11320.23
454.68 595.43 682.52 722.3 664.88
462.38 447.11 461.4 442.46 453.04
12.59 9.21 12.15 9.9 9.87
6238.81 6843.81 6832.97 6940.01 6656.21
1568.49 1773.72 1607.95 1759.89 1700.31
4619.77 5006.65 5175.48 5104.93 4898.07
6259.1 6704.7 6624 6670.07 6454.24
6,663.23 7,236.69 7,256.98 7,317.18 7,061.29

Mar-19 Mar-20 Mar-21 Mar-22 Mar-23

 1225.86 1229.22 1230.88 1232.33 1242.8
57915.01 64044.04 59116.46 61223.24 67912.46
13.44 277.45 270.83 249.44 306.04
12584.73 11760.04 13142.59 14491.01 16369.66
71739.04 77310.75 73760.76 77196.02 85830.96
19374.19 21713.34 23298.48 24231.59 25851.27
4136.42 3256.46 4011.29 3225.54 3003.3
25043.49 28663.35 24870.87 24841.01 29415.02
23184.94 23677.6 21580.12 24897.88 27561.37
71739.04 77310.75 73760.76 77196.02 85830.96
4035.28 2562.48 2501.7 2461.9 2956.17
7859.56 8879.33 10397.16 10864.15 11771.16
4152.03 7277.34 4659.02 4654.42 4880.19
12258631601 12292231241 12308844231 12323255931 12428017741

1 1 1 1 1
2,786.26 2,046.54 1,375.57 2,072.72

Mar-19 Mar-20 Mar-21 Mar-22 Mar-23

12583.41 14689.66 12526.97 15775.51 18877.55
-5545.68 -6174.02 5739.98 -2238.49 -5732.29
-6868.64 -8181.48 -18633.83 -13580.5 -13006.03
169.09 334.16 -366.88 -43.48 139.23

297.25 171.7 218.5 250.65 383.5

1,225.86 1,229.22 1,230.88 1,232.33 1,242.80

 Mar-12 Mar-13 Mar-14 Mar-15 Mar-16 Mar-17 Mar-18

Cash from Operating Activity - 6,256 7,102 7,344 9,843 9,799 10,627 13,169
Profit from operations 9,244 11,218 13,172 14,261 15,154 16,075 17,433
Receivables -357 -446 -1,546 558 -207 -870 -964
Inventory -408 -985 -755 -505 -693 593 602
Payables 193 0 456 -23 622 321 2,098
Other WC items 0 331 0 0 0 0 0
Working capital changes -573 -1,101 -1,844 31 -277 44 1,736
Direct taxes -2,415 -3,015 -3,984 -4,449 -5,078 -5,492 -6,000

Cash from Investing Activity - -2,694 -3,881 -3,254 -5,275 -3,921 -3,251 -7,114
Fixed assets purchased -2,468 -2,644 -2,887 -3,300 -2,348 -3,122 -2,878
Fixed assets sold 59 10 38 9 8 50 80
Investments purchased -54,269 -75,713 -94,242 -98,742 ### -85,683 -98,330
Investments sold 53,879 75,152 93,293 99,658 150,651 81,034 95,017
Interest received 302 265 374 559 741 756 736
Dividends received 241 249 192 268 64 4 13
Invest in subsidiaries 0 0 0 0 -8 0 0
Investment in group cos 0 0 0 0 0 0 0
Redemp n Canc of Shares 0 0 0 0 0 129 18
Other investing items -438 -1,200 -21 -3,728 1,052 3,579 -1,769

Cash from Financing Activity - -3,305 -3,310 -4,122 -4,661 -5,613 -7,301 -6,221
Proceeds from shares 765 922 691 979 532 1,067 913
Proceeds from borrowings 28 -2 156 7 0 0 11
Repayment of borrowings -33 -12 -15 -20 -13 -13 -8
Interest paid fin -19 -71 -48 -16 -28 -25 -49
Dividends paid -3,503 -3,592 -4,239 -4,876 -5,133 -6,994 -5,952
Financial liabilities 0 0 0 0 0 0 0
Other financing items -542 -556 -667 -734 -971 -1,335 -1,136
Net Cash Flow 257 -90 -32 -93 266 75 -166
Mar-19 Mar-20 Mar-21 Mar-22 Mar-23

12,583 14,690 12,527 15,776 18,878

18,862 19,416 17,326 20,857 25,895 5,499
-755 1,411 -66 -732 -884
-359 -508 -1,460 -466 -941
639 -607 1,112 1,099 1,058
0 0 0 0 0
-476 296 -413 -100 -767
-5,803 -5,023 -4,387 -4,982 -6,250

-5,546 -6,174 5,740 -2,238 -5,732

-3,169 -2,441 -1,837 -2,142 -2,743
28 27 3 133 49
-94,187 -79,835 -57,553 -69,776 -80,932
92,454 75,835 62,797 70,992 77,230
1,184 1,513 1,275 1,035 1,324
13 17 7 16 19
0 0 0 0 0
0 0 -2 -2 -2
18 0 0 0 56
-1,887 -1,290 1,051 -2,494 -733

-6,869 -8,181 -18,634 -13,580 -13,006 -4122

969 625 291 292 2,477
0 0 0 0 0
-18 -3 -2 -1 -1
-98 -44 -41 -40 -41
-6,519 -7,302 -18,881 -13,788 -15,418
0 -49 -55 -59 -59
-1,203 -1,409 55 15 35
169 334 -367 -43 139