FORM NL-20-RECEIPT AND PAYMENTS SCHEDULE
Format of Receipts and Payments A/c to be furnished by the insurers on direct basis(indirect method followed by Gic re)
(` in  '000) (` '000)
      31st March 2017 31st March 2016
A )     CASH FLOW FROM OPERATING ACTIVITIES          
  Net Profit before taxation as per Profit & Loss A/c   36238 557   29565 068
  Adjustments for:        
  Exchange -Loss/Gain charged 464 766           (2320 685)  
  Provision for diminution in value of investment 556 439   1359 916  
  Provision for doubtful loans, investments & Debts 2595 645           (1158 436)  
  Amortisation of Premium on Investment 185 152   185 605  
  Depreciation 96 805   95 789  
  -Profit /Loss on sale of Assets 2 216    223  
  Provision for Leave Encashment & Salary Arrears 79 014             (106 467)  
  Sundry Balances Written off/ -back  0 3980 037  0 (1944 055)
  Operating Profit before working capital changes   40218 594   27621 013
  Changes in Unexpired Risk Reserves 34596 585   12019 459  
  Changes in Premium Deficiency Reserve  0   -584 596  
  Changes in Provisions for Outstanding Claims 86663 173   13940 843  
  Changes in Income accrued on Investments            (122 115)   -717 106  
  Changes in Balances with Insurance Companies       (81342 470)   2993 839  
  Changes in Advance and Deposits 56069 390   -8971 612  
  Changes in other Current Liabilities (55114 175) 40750 388 7674 907 26355 734
  Cash generated from operations   80968 982   53976 747
  Income Tax Paid (Net)           (3151 207)   4043 785
  Net Cash from Operating Activities   77817 775   58020 532
       
B ) CASH FLOWS FROM INVESTING ACTIVITIES      
  Purchase of Fixed Assets               (33 859)             (424 024)
  Proceeds from sale of Fixed Assets                 1,342                 1,617
  Foreign Currency Translation Reserve           (5137 193)           2,248,603
  Changes in net Investments         (37538 864)         (35334 950)
  Net Cash used in Investing Activities         (42708 574)         (33508 754)
       
C ) CASH FLOWS FROM FINANCING ACTIVITIES      
  Dividend Paid           (8600 000)           (5400 000)
  Dividend Tax Paid           (1750 788)           (1099 332)
  Net Cash from Financing Activities         (10350 788)           (6499 332)
       
D) Effect of Foreign Exchange on Cash & Cash equivalents(Net)    (464 766)   2320 685
       
  Net increase in Cash and Cash equivalents (A+B+C+D)         24,293,647   20333 131
  Cash and Cash equivalents at beginning of period    97614 005   77280 874
  Cash and Cash equivalents at the end of period      121907 652   97614 005