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		For the year ended 31st March, 2008	For the year ended 31st March, 2007
		Rs.	Rs.
B.	Cash Flow from Investing Activities
	Realisation of Loans / Deposits given	51,51,875	1,00,80,00,000
	Interest received on loans, deposits etc.	22,87,176	2,13,22,677
	Net cash used in investing activities	(7,03,94,85,301)	(3,66,50,30,842)
C.	Cash Flow from Financing Activities
	Allotment money realised (including Securities Premium)	180	3,150
	Proceeds from :
	Long-term borrowings	5,08,25,85,400	3,47,00,00,000
	Short-term borrowings	30,23,66,30,654	11,53,25,82,966
	Payment for debentures	(21,75,409)	(8,59,666)
	Repayment of :
	Long-term borrowings	(2,79,05,39,140)	(70,31,00,557)
	Short-term borrowings	(29,15,29,53,588)	(11,99,34,40,900)
	Increase in cash credit and overdrafts from banks	2,67,08,397	23,36,27,575
	Interest paid (2008 - including other Borrowing Cost Rs 10,76,20,127)	(70,28,22,259)	(48,27,22,502)
	Dividends paid (2007 - including taxes thereon)	(1,35,37,691)	(35,06,99,081)
	Net Cash from financing activities	2,68,38,96,544	1,70,53,90,985
	Net Increase in Cash and Cash Equivalents	13,29,98,992	2,41,08,712
	Opening Cash and Cash Equivalents	27,24,22,341	24,83,13,629
	Closing Cash and Cash Equivalents (Note 2)	40,54,21,333	27,24,22,341
Notes : 1. The above cash flow statement has been prepared under the Indirect Method as set out in the Accounting Standard - 3 on Cash Flow Statement issued by the Institute of Chartered Accountants of India.     For the year ended 31st March, 2008 For the year ended 31st March, 2007 Rs. Rs. 2. Cash and Cash Equivalents comprise :   Cash in Hand 71,54,975 77,77,835 With Scheduled Banks on :   Current Account 38,58,28,300 23,86,68,828 Dividend Account – 1,43,78,560 Unpaid Dividend Account 1,06,52,777 98,11,837 Term Deposit Account 17,80,281 17,75,000 Term Deposit with Malaprabha Grameena Bank – 5,281 With Post Office Savings Bank Account 5,000 5,000   40,54,21,333 27,24,22,341

3. Previous year's figures have been regrouped where necessary to conform to the current year's classification.
	B. K. Birla		Chairman
S. K. Parik Director & Secretary	K. G. Maheshwari B. P. Bajoria P. K. Choksey G. B. Pande Amitabha Ghosh P. K. Mallik Manjushree Khaitan		Directors

This is the Cash Flow Statement referred to in our report of even date.
Kolkata 3rd May, 2008	(S. K. Deb) Partner Membership No.13390 For and on behalf of Price Waterhouse Chartered Accountants

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