Financial statements

Consolidated financial statement of JSW S.A. Capital Group for 2012

	For the financial year ended 31 Dec
	2012	2011
Cash flow on operating activity
Cash inflows on operating activity	2,608.1	3,334.2
Interest paid	(24.0)	(8.9)
Movement in financial derivatives	0.3	(2.6)
Income tax paid	(225.0)	(487.4)
Net cash flow on operating activity	2,359.4	2,835.3

Cash flow on investing activity
Acquisition of property, plant and equipment	(1,804.8)	(1,272.0)
Acquisition of intangible assets	(24.7)	(19.0)
Acquisition of financial assets	(926.9)	(25.6)
Mergers of business entities under common control	-	(470.1)
Proceeds on the sale of property, plant and equipment	6.5	8
Dividends received	0.5	0.5
Interest received	115.1	111
Net cash flow on investing activity	(2,634.3)	(1,667.2)

Cash flow on financing activity
Loans and credits received	91.6	125.7
Loans and borrowings repaid	(256.7)	(61.7)
Dividends paid to shareholders of the Parent Company	(631.7)	(298.0)
Dividends paid to non-controlling shareholders	(6.0)	(2.4)
Transactions with non-controlling shareholders	(0.2)	(185.4)
Payments related to financial lease	(7.4)	(1.4)
Other cash flows	(11.1)	(13.7)
Net cash flow on financing activity	(821.5)	(436.9)

Change in the net balance of cash and cash equivalents	(1,096.4)	731.2

Cash and cash equivalents at the beginning of the period	2,589.0	1,855.8
Foreign exchange differences from the conversion of cash and cash equivalents	(1.9)	2
Cash and cash equivalents at the end of the period	1,490.7	2,589.0