Oil India

1. SUMMARY OF STATEMENT OF PROFIT AND LOSS, AS RESTATED
(Rs. in million)
Quarter Quarter Year Year Year Year Year
ended ended ended ended ended ended ended
30.06.2009 30.06.2008 31.03.2009 31.03.2008 31.03.2007 31.03.2006 31.03.2005
INCOME
Sales 19,020.73 23,126.63 71,397.19 59,653.05 52,850.89 54,705.79 38,415.38
Income from
Transportation 297.58 251.62 1,017.30 1,166.43 1,041.16 796.07 742.99
Other Income 2,063.15 1,556.04 9,371.75 6,770.01 5,334.94 3,639.29 1,904.26
Other adjustments - -461.35 -407.47 365.15 872.90 1,110.72 117.71
Total Income 21,381.46 24,472.93 81,378.77 67,954.63 60,099.89 60,251.87 41,180.35
EXPENDITURE
Increase/(Decrease)
In Stock -146.07 -10.25 130.01 -220.57 22.12 -113.70 -69.09
Production,
Transportation & Other
Expenditure 9,717.27 10,399.39 39,612.49 35,648.89 30,439.30 27,048.70 21,100.61
Provision against
debts, advances and
other provisions/write-
offs 178.44 277.90 3,711.98 1,334.07 1,927.05 1,121.73 676.77
Depletion 527.63 578.75 2,087.64 2,174.80 1,776.52 1,881.23 1,733.86
Depreciation 511.47 205.72 1,680.79 918.60 818.34 1,432.38 561.61
Interest & Debt
Charges 9.02 14.23 87.44 343.64 139.55 161.87 166.51
Exchange
Loss/(Gain) -60.83 -49.30 -61.51 39.21 11.24 -9.72 -0.62
VRS
Compensation written
off - - - - - 299.62 99.87
Other Adjustments - 633.38 213.93 570.65 84.94 1,701.95 607.15
Total Expenditure 10,736.94 12,049.81 47,462.77 40,809.29 35,219.06 33,524.05 24,876.68
Profit for the
period / year 10,644.52 12,423.12 33,916.00 27,145.34 24,880.83 26,727.82 16,303.66
Prior Period items - - 46.30 11.32 -54.56 16.16 -72.23
Profit Before Tax 10,644.52 12,423.12 33,869.70 27,134.02 24,826.27 26,743.98 16,231.44
Provision for
Taxation:
- Current Tax
(Including Wealth Tax) 3,157.60 4,345.84 11,848.43 8,510.26 7,380.30 9,249.59 5,454.79
- Tax for earlier
years - - - 2.63 0.93 66.24 85.21
- Deferred Tax 90.00 125.84 343.07 706.83 1,020.18 497.85 74.60
- Fringe Benefit
Tax - 19.25 61.36 25.00 25.00 31.00

2. 3,247.60 4,490.93 12,252.86 9,244.71 8,426.41 9,844.67 5,614.60
Profit After Tax as per
audited statement of
accounts 7,396.92 7,932.19 21,616.84 17,889.31 16,399.86 16,899.31 10,616.84
Adjustments on
account of :
a) Changes in
Accounting Policies - - - - - 2,060.73 51.27
b) Other Adjustments
and Prior Period Items - 1,094.73 943.51 -150.28 -1,478.06 -1,192.94 608.30
c) Current Tax Impact
on Adjustments - (248.14) -251.85 67.50 468.21 443.97 -316.94
d) Deferred Tax -10.56 13.90 159.84 -151.02
Impact on Adjustments - - -
Total of Adjustments
after tax impact - - 691.66 -93.34 -995.95 1,471.60 191.61
Profit after Tax as
Restated - 846.59 22,308.50 17,795.97 15,403.91 18,370.91 10,808.45
BALANCE
AVAILABLE FOR
APPROPRIATION, AS
RESTATED 7,396.92 8,778.78 22,308.50 17,795.97 15,403.91 18,370.91 10,808.45
APPROPRIATIONS:
Interim Dividends - - 3,210.07 2,675.06 3,959.08 3,959.08 1,284.03
Tax on Interim
Dividends - - 545.55 454.63 555.26 555.26 172.19
Final Dividend
(Proposed) - - 3,317.01 3,210.07 1,605.03 1,712.04 2,140.04
Tax on Proposed
Dividend - - 563.73 545.55 272.78 240.11 300.14
Transfer to General
Reserve - - 14,672.14 10,910.68 9,011.76 11,904.42 6,912.05
Balance of Profit
and Loss Account 7,396.92 8,778.78 - - - -
TOTAL 7,396.92 8,778.78 22,308.50 17,795.97 15,403.91 18,370.91 10,808.45
Notes :
1. The above statement should be read with the Notes on Adjustments made for Restated Financial Statements (Annexure IVA),
Notes on Adjustments not made for Restated Financial Statements (Annexure IVB), Auditors' qualifications and treatment in
Restated Financial information (Annexure IV C), Significant Accounting Policies (Annexure V A) and Other Notes on Restated
Financial Statements (Annexure V B).
2. The reconciliation between the Audited and Restated accumulated Profit and Loss balance is given in Notes on Adjustments
made for Restated Financial Statements (Annexure IV A.)
3. Negative figures have been shown in brackets.
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3. SUMMARY OF STATEMENT OF ASSETS AND LIABILITIES, AS RESTATED
(Rs. in million)
As at As at As at As at As at As at As at
30.06.2009 30.06.2008 31.03.2009 31.03.2008 31.03.2007 31.03.2006 31.03.2005
FIXED ASSETS
Gross Block 29,997.21 23,432.45 29,720.38 23,227.74 21,889.06 20,951.83 18,846.29
Less: 19,078.75 16,515.43 18,382.62 16,146.60 15,521.36 14,892.21 12,844.28
Accumulated
Depreciation
Net Block 10,918.46 6,917.02 11,337.75 7,081.14 6,367.70 6,059.62 6,002.01
Capital Work 3,441.93 6,751.99 3,185.88 6,445.53 5,301.18 3,118.45 2,368.65
in progress
14,360.38 13,669.01 14,523.63 13,526.67 11,668.89 9,178.07 8,370.66
PRODUCING
PROPERTIES
Gross Cost 48,671.68 44,583.54 47,660.05 43,036.14 38,440.81 35,563.95 32,270.90
Less: 22,973.15 20,936.64 22,445.53 20,357.88 18,183.08 16,406.56 14,578.49
Depletion
Net Cost 25,698.53 23,646.90 25,214.51 22,678.26 20,257.72 19,157.39 17,692.41
PRE- 7,549.33 4,298.44 5,622.87 4,481.08 3,885.96 2,260.16 1,298.20
PRODUCING
PROPERTIES
INVESTMENTS 6,430.41 4,886.60 4,886.61 4,886.61 4,075.45 4,301.53 1,819.31
CURRENT
ASSETS,LOANS
AND ADVANCES
Inventories 5,009.56 4,888.96 5,009.95 4,508.95 4,080.24 3,989.46 2,607.82
Sundry 7,337.35 7,166.78 4,047.34 5,608.54 3,726.98 5,286.78 5,513.46
debtors
Cash and 65,685.51 59,526.66 60,700.08 42,808.25 32,756.96 31,015.02 18,640.39
Bank Balances
Interest 1,666.57 1,160.99 3,517.23 2,150.37 1,453.67 1,094.13 596.32
/Dividend accrued
Term Deposits /
Investments
Loans and 11,801.05 6,209.28 10,443.95 6,069.83 12,805.41 4,458.75 9,260.39
Advances
91,500.03 78,952.66 83,718.55 61,145.93 54,823.26 45,844.13 36,618.38
Total Assets 1,45,538.67 1,25,453.61 1,33,966.18 1,06,718.55 94,711.28 80,741.28 65,798.96
LIABILITIES
AND
PROVISIONS
Secured Loans 4.03 850.21 27.02 1,048.85 7,090.08 1,550.24 950.00
Unsecured 512.50 675.00 537.50 700.00 1,050.00 1,400.00 1,861.61
Loans
Current 16,357.37 16,622.52 14,636.65 11,127.39 7,948.92 8,964.25 5,612.11

4. Liabilities
Provisions 18,854.84 11,251.57 15,866.09 6,114.57 2,373.38 2,596.66 3,445.39
35,728.74 29,399.30 31,067.26 18,990.81 18,462.37 14,511.15 11,869.12
DEFERRED TAX 9,088.25 8,781.01 9,013.88 8,670.80 8,038.39 7,004.31 7,309.97
LIABILITY (NET)
WELL 14.57 11.41 14.57 11.41 10.72 10.00 0.00
ABANDONMENT
SINKING FUND
Total Liabilities 44,831.55 38,191.71 40,095.71 27,673.02 26,511.49 21,525.46 19,179.09
NET WORTH 1,00,707.11 87,261.90 93,870.47 79,045.53 68,199.79 59,215.82 46,619.87
REPRESENTED
BY
Share Capital 2,140.04 2,140.04 2,140.04 2,140.04 2,140.04 2,140.04 2,140.04
Reserves and 98,567.07 85,121.86 91,730.43 76,905.49 66,059.75 57,075.78 44,479.83
Surplus
1,00,707.11 87,261.90 93,870.47 79,045.53 68,199.79 59,215.82 46,619.87
Notes :
1.The above statement should be read with the Notes on Adjustments made for Restated Financial Statements(Annexure IVA),
Notes on Adjustments not made for Restated Financial Statements (Annexure IVB), Auditors' qualifications and treatment in
Restated Financial Informations (Annexure IV C), Significant Accounting Policies (Annexure VA) and Other Notes on Restated
Financial Statements (Annexure VB).
2.Reserve and Surplus comprises entirely General Reserve.
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5. SUMMARY OF STATEMENT OF CASH FLOW, AS RESTATED
(Rs. in million)
Quarter Quarter Year Year Year Year Year
ended ended ended ended ended ended ended
30.06.2009 30.06.2008 31.03.2009 31.03.2008 31.03.2007 31.03.2006 31.03.2005
Cash flow from
operating activities :
Profit before tax 10,644.52 12,423.12 33869.70 27,134.02 24,826.27 26,743.98 16,231.44
Adjustments (See
Annexure IVA) - 1,094.73 943.51 (150.28) (1,478.06) 867.79 659.57
Restated Profit Before
Tax 10,644.52 13,517.85 34813.21 26983.74 23348.21 27611.77 16891.01
Adjustment for :
- Depreciation 511.47 205.72 1628.24 971.15 818.34 (144.60) 588.98
- Depletion 527.63 578.75 2087.64 2,174.80 1,776.52 1,750.25 1,749.35
- Provision for leave
encashment -20.51 109.88 191.93 329.45 71.65 45.45 18.55
- Foreign Exchange
(Gain)/Loss -60.83 49.03 (61.51) 39.21 11.24 (9.72) (0.62)
- Provision for Post
retirement medical
benefits 6.95 22.22 23.42 86.39 9.62 59.23 320.01
- Interest 9.02 14.23 87.44 343.64 139.55 161.87 166.51
- Interest Income -1,489.11 -940.53 (6141.79) (4,421.34) (3,188.70) (2,006.17) (1,399.87)
- Dividend Income -4.44 -31.79 (443.39) (496.79) (173.76) (154.40) (79.92)
-Other provision,
adjustment and write
offs - 559.91 2585.02 3,025.07 2,513.65 799.28 (1,298.17)
(519.82) 567.42 (43.00) 2051.58 1978.12 501.19 64.83
Operating profit before
working capital changes 10124.70 14085.27 34770.21 29035.32 25326.33 28112.95 16955.84
Adjustment for Changes
in WC
- Debtors (3290.01) (1518.17) 1561.20 (1,881.56) 1,559.80 226.68 425.51
- Loans & Advances 328.54 (1059.68) (4374.12) 6,735.58 (8,346.66) 4,801.64 834.96
- Inventories 0.40 (380.01) (501.00) (428.71) (90.78) (1,381.64) (235.41)
- Sundry Creditors &
other current liabilities 2596.75 6162.12 3509.26 3,178.47 (1,015.33) 3,352.14 2,722.22
Net Changes in
Working Capital (364.32) 3204.26 195.34 7,603.78 (7,892.97) 6,998.82 3,747.28
Cash generated from
operation 9760.38 17289.53 34,965.55 36,639.10 17,433.36 35,111.77 20,703.12
Direct Taxes paid (Net
of Refund) (1381.38) (424.66) (5264.68) (8,756.19) (7,406.23) (9,222.79) (5,940.47)
Net cash flow from
operating activities

6. A' 8378.99 16864.87 29,700.87 27,882.91 10,027.14 25,888.99 14,762.65
Cash flow from
investing activities :
Purchase of Fixed
Assets (Net) (3286.31) (1875.92) (8495.99) (9,492.01) (9,370.32) (6,108.39) (6,283.27)
Investment Made (1543.80) - - (4,228.37) (0.02) (2,482.17)
Interest received 1489.11 1935.54 5026.56 3,717.12 2,718.37 1,515.87 1,234.57
Dividend received 4.44 31.79 443.39 496.79 173.76 154.40 79.92
Investment Realised - - - 3,417.22 - - 426.54
Net cash flow from
investing activities 'B' (3336.56) 91.41 (3,026.04) (6,089.25) (6,478.22) (6,920.30) (4,542.23)
Cash flow from
financing activities :
Repayment of
borrowings (47.99) (223.64) (1184.33) (7,434.84) (740.77) (441.89) (374.11)
Proceeds from
borrowings - - - 1,043.62 5,539.83 600.24 589.71
Interest paid (9.02) (14.23) (87.44) (343.65) (139.55) (161.87) (166.51)
Dividend paid - - (6420.13) (4,280.09) (5,671.12) (5,735.13) (2,996.06)
Tax on dividend - - (1091.10) (727.41) (795.37) (855.40) (391.55)
Net cash flow from
financing activities 'C' (57.01) (237.87) (8,783.00) (11,742.37) (1,806.98) (6,594.05) (3,338.52)
Net Increase in cash
and cash equivalents
(A+B+C) 4985.43 16718.41 17,891.83 10,051.29 1,741.94 12,374.63 6,881.90
Cash and Cash
equivalent at the
beginning of the year 60700.08 42808.25 42808.25 32,756.96 31,015.02 18,640.39 11,758.49
Cash and Cash
equivalent at the end
of the year 65685.51 59526.66 60700.08 42808.25 32756.96 31015.02 18640.39
Components of Cash
and Cash equivalents:
Cash & Cheques
in Hand 23.59 22.80 16.11 10.60 10.01 13.04 7.21
Balance with
scheduled banks
Current Account 337.60 397.81 851.24 1,488.95 883.94 1,130.88 404.68
Term Deposits 65324.31 59106.05 59832.73 41,308.70 31,863.01 29,871.10 18,228.50
65685.51 59526.66 60700.08 42,808.25 32,756.96 31,015.02 18,640.39
Notes :
1. The Cash Flow Statement has been prepared under indirect method as set out in Accounting Standard 3 (AS 3) Cash Flow
Statement issued by the Institute of Chartered Accountants of India.
2. Cash outflows have been shown in brackets.
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