WALCHAND PEOPLEFIRST LIMITED
										Rs. In Lacs
CASH FLOW STATEMENT
Annexed to the  Balance Sheet for the Year Ended 31st March ,2009
			2008-2009		2007-2008		2007-2008		2007-2008
					Continuing Activity		Discontinuing Activity
Cash Flow From Operating Activities :
Net Profit Before Tax and after				29.21		29.60		751.41		781.01
Extraordinary items
Adjustments for :-
Provision W/back( Aris Agro)											-
Depreciation/Impairment			19.60		23.11		14.20		37.31
Profit on Sale of Investments			(0.34)		(99.88)				(99.88)
Dividend Income (Reced.)			(9.01)		(25.93)				(25.93)
Interest Income ( Reced.)			(19.47)		(7.84)		0.01		(7.83)
Profit on sale of Training Business			-		-		(906.44)		(906.44)
Interest Expenses			4.49		0.72		0.37		1.09
Provision no longer required (investment)
Profit on sale of Fixed Asset			(1.85)		(0.59)				(0.59)
Loss on sale of Assets			-		0.10				0.10
Fixed Assets Written Off			1.95
Bad Debts Written Off			-				12.50		12.50
Provision  for Doubtful Advances Written Back			-				(25.00)		(25.00)
Provision for diminition in value of Investments			-		0.31				0.31
Loss on sale of Investments			3.59		5.63				5.63
Excess Provision for expense Written Back			(1.26)		0.11				(0.11)
				(2.31)		(104.26)		(904.36)		(1,008.84)
				26.90		(74.66)		(152.95)		(227.83)
Adjustment for  :-
Trade Receivables			(52.50)		(211.10)		(139.79)		(350.89)
Trade Payables			6.74			30.82		233.36	264.18
				(45.76)	(180.28)		93.57			(86.71)
Cash Generated from Operations				(18.86)		(254.94)		(59.38)		(314.54)
Direct Taxes Paid				(10.49)	(75.99)	(75.99)				(75.99)
Net Cash Flow From Operating Activities				(29.35)		(330.93)		(59.38)		(390.53)
Cash Flow From Investing Activities :
Purchase of Fixed Assets			(0.33)		(9.53)		(16.75)		(26.28)
Sale of Fixed Assets			3.57		2.55				2.55
Purchase of Investments			(23.09)		(1,501.08)				(1,501.08)
Purchase of Investments- Subsidiary			(300.00)
Sale of Investments			31.37		2,119.39				2119.39
Repayment of Intercorporate Deposits			52.00		25.00				25.00
Loan given to Subisidary Company			(44.53)
Application Money Pending Allotment			251.06		(251.06)				(251.06)
Dividend Income (Reced.)			9.01		26.11				26.11
Interest Income ( Reced.)			19.61		7.84		(0.01)		7.83
Net Cash Flows From Investing Activities				(1.31)		419.22		(16.76)		402.46
Cash Flow From Financing Activities
Borrowing - inter company			33.50		-				-
Repayments of Borrowings			(2.98)		(2.78)		(0.46)		(3.24)
Interest paid			(4.49)		(0.72)		(0.37)		(1.09)
Payment to Preference share holders			(0.01)		(0.01)				(0.01)
Dividend Paid			(27.73)		(29.79)				(29.79)
Dividend Tax Paid			(4.84)		(4.84)				(4.84)
Net Cash Used in Financing Activities				(6.55)		(38.14)		(0.83)		(38.97)
Net  Decrease in Cash & Cash Equivalents				(37.21)		50.15		(76.97)		(27.04)
Cash & Cash Equivalents as at 01.04.2008
Cash on Hand			0.26						0.47
Bank Balances			43.47	43.73					70.30	70.77
Cash & Cash Equivalents as at 31.03.2009
Cash on Hand			0.29						0.26
Bank Balances			6.23						43.47
				6.52						43.73
For Haribhakti & Co.			FOR AND ON BEHALF OF THE BOARD OF DIRECTORS
Chartered Accountants
			PALLAVI JHA __________________________
			Chairperson & Managing Director
			SANJAY JHA    __________________________
RAKESH RATHI			Whole Time  Director
Partner
			HARSHAD MANE _________________________
			Company Secretary
			SURESH JHANWAR _________________________
			Associate Vice President - Finance
Mumbai
Date : 28.04.2009