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Indian Oil Corporation Limited Integrated Annual Report 2021-22

High O C TA N E Pe r for m a n c e

STANDALONE FINANCIAL STATEMENTS

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED MARCH 31, 2022

(J in crore)
Particulars 2021-2022 2020-2021

A Cash Flow from Operating Activities

1 Profit / (Loss) before Tax 31,733.07 29,715.65
2 Adjustments for :
Depreciation, Amortisation and Impairment on Property, Plant & Equipment and 11,005.91 9,804.30
Intangible Assets
Loss/(Profit) on sale of Assets (net) (23.15) 85.09
Loss/(Profit) on sale/ write-off of Investments (net) 4.73 (4.12)
Amortisation of Capital Grants (25.96) (25.29)
Provision for Probable Contingencies (net) (92.14) (227.65)
MTM Loss/(gain) arising on financial assets/liabilities as at fair value through profit 205.71 (205.56)
and loss
Unclaimed / Unspent liabilities written back (127.56) (371.70)
Bad Debts, Advances & Claims written off 184.21 10.61
Provision for Doubtful Advances, Claims and Obsolescence of Stores (net) (170.07) 564.98
Impairment Loss on Financial Assets (Net) (136.38) 1,195.45
MTM Loss/(Gain) on Derivatives (68.00) (140.87)
Remeasurement of Defined Benefit Plans through OCI (769.98) 22.42
Interest Income (1,868.67) (1,760.12)
Dividend Income (2,318.68) (1,241.03)
Finance costs 3,816.33 3,921.00
Amortisation and Remeasurement (Net) of PMUY Assets 587.97 1,056.60
10,204.27 12,684.11
3 Operating Profit before Working Capital Changes (1+2) 41,937.34 42,399.76
4 Change in Working Capital (excluding Cash & Cash Equivalents):
Trade Receivables & Other Assets (3,491.67) 9,359.57
Inventories (25,044.09) (14,513.92)
Trade Payables & Other Liabilities 14,997.11 15,465.64
Change in Working Capital (13,538.65) 10,311.29
5 Cash Generated From Operations (3+4) 28,398.69 52,711.05
6 Less : Taxes paid 7,221.35 3,927.07
7 Net Cash Flow from Operating Activities (5-6) 21,177.34 48,783.98

B Cash Flow from Investing Activities:

Proceeds from sale of Property, Plant and Equipment/ Transfer of Assets 542.63 998.90
Purchase of Property, Plant & Equipment and Intangible Assets (4,076.60) (4,559.25)
Expenditure on Construction Work in Progress (17,814.07) (16,602.57)
Proceeds from sale of financial instruments (other than working capital) (4.73) 115.28
Investment in subsidiaries (1,877.73) (1.13)
Purchase of Other Investments (1,710.97) (4,580.49)
Receipt of government grants (Capital Grant) 703.85 580.66
Interest Income received 1,822.11 1,749.88
Dividend Income on Investments 2,318.68 1,241.03
Net Cash Generated/ (Used) in Investing Activities: (20,096.83) (21,057.69)
 201
Financial Statements
Standalone Statement Of Cash Flows

STANDALONE FINANCIAL STATEMENTS

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED MARCH 31, 2022

(J in crore)
Particulars 2021-2022 2020-2021

C Net Cash Flow From Financing Activities:

Proceeds from Long-Term Borrowings 10,613.26 10,050.40
Repayments of Long-Term Borrowings (587.00) (2,048.63)
Repayments of Lease Liabilities (1,761.39) (1,106.60)
Proceeds from/(Repayments of) Short-Term Borrowings 6,309.80 (22,313.22)
Interest paid (4,362.99) (4,146.87)
Dividend paid (10,896.02) (8,383.19)
Net Cash Generated/(Used) from Financing Activities: (684.34) (27,948.11)

D Net Change in Cash & Cash Equivalents (A+B+C) 396.17 (221.82)

E1 Cash & Cash Equivalents as at end of the year 709.91 313.74

Less:
E2 Cash & Cash Equivalents as at the beginning of year 313.74 535.56
NET CHANGE IN CASH & CASH EQUIVALENTS (E1 - E2) 396.17 (221.82)

Notes:
1. Net Cash Flow From Financing Activities includes following non-cash changes:

Particulars 2021-2022 2020-2021

(Gain)/ Loss due to changes in exchange rate 921.43 (1,177.78)

2. Statement of Cash Flows is prepared using Indirect Method as per Indian Accounting Standard-7: Statement of Cash Flows.
3. Figures for previous year have been regrouped wherever necessary for uniformity in presentation.

For and on Behalf of Board of Directors

Sd/- Sd/- Sd/-

(S. M. Vaidya) (S. K. Gupta) (Kamal Kumar Gwalani)
Chairman Director (Finance) Company Secretary
DIN- 06995642 DIN- 07570165 ACS-13737

As per our attached Report of even date

For G.S.MATHUR & CO. For K.C.MEHTA & CO. For SINGHI & CO. For S R B & ASSOCIATES
Chartered Accountants Chartered Accountants Chartered Accountants Chartered Accountants
(Firm Regn. No. 008744N) (Firm Regn. No. 106237W) (Firm Regn. No. 302049E) (Firm Regn. No. 310009E)

Sd/- Sd/- Sd/- Sd/-

(Rajiv Kumar Wadhawan) (Vishal P. Doshi) (Shrenik Mehta) (R. S. Sahoo)
Partner Partner Partner Partner
M.No. 091007 M.No. 101533 M. No. 063769 M. No. 053960

Place: New Delhi

Dated: 17th May 2022