Page 92 - CCL AR 2017 Final

Summary of Cash Flow Statement -

Last Six Years

2017 2016 2015 2014 2013 2012
(Restated)

(Rupees in million)

Summary of Cash Flows
Net cash generated from
operating activities 204 2,306 1,671 1,757 1,931 1,395
Net cash used in investing
activities (1,555) (5,557) (3,102) (1,373) (426) (102)
Net cash generated / (used in)
from financing activities 1,373 3,256 1,432 (392) (1,517) (1,326)

Change in cash and cash
equivalents 23 5 1 (8) (12) (33)

Cash & cash equivalents -
Year end 46 23 18 17 26 38

Comments on

Cash Flow Statement

A stable increase in cash flow from operating activities continued from 2012 to 2016 while in 2017 it remains
relatively on lower side but still remained in positive zone. Operating Cash flows in 2017 are lowest mainly due
to additional working capital requirements in view of enhanced production capacity of the Company.

Cash used in investing activities remained in red zone due to investments made by the Company. During 2014,
the Company made significant investments and earned healthy revenues. In 2015 and 2016, installation of line II
was in full swing which results in increased cash outflows from investing activities. However, in the year 2017,
investing activities showed a decline as capital work in progress of line II was completed in January 2017.

During the year 2013, the financing activity was negative due to repayment of long-term financing. In 2015, the
Company issued right shares which brought the cash flows from financing activities in positive zone. Whereas in
2016, the Company made drawdown to finance its installation of line II project. However, in the 2017, the cash
flows from financing activities were down due to completion of installation of line II project and debt servicing.

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Cherat Cement
Company Limited