DANDOT CEMENT COMPANY LIMITED
CASH FLOW STATEMENT
FOR THE PERIOD ENDED SEPTEMEBR 30, 2005 ( UN-AUDITED )
			September		September
			2005		2004
			( Rupees in thousand )
	CASH FLOWS FROM OPERATING ACTIVITIES
	Profit before taxation		36,423		16,675
	Adjustments of items not involving movement of cash:
		Depreciation	25,127		26,723
		Provision for Gratuity	4,099		3,394
		Exchange fluctuations	(9,512)		6,278
		Amortization of deferred cost	10,082		10,082
		Income on certificate of investment	-		(1,497)
		Financial charges	17,689		11,075
			47,485		56,055
	Operating cash flows before working capital changes		83,908		72,730
	(Increase)/Decrease in operating asset :
	Stores, spares and loose tools		2,008		(5,447)
	Stock in trade		1,471		(7,524)
	Trade debtors		(150)		927
	Advances, deposits, prepayments
	and other receivables		(4,050)		(3,148)
	Increase/(Decrease) in creditors, accrued and
	other liabilities		28,085		(6,181)
			27,364		(21,373)
			111,272		51,357
	Long term advances and deposits		(5)		85
	Financial charges paid		(17,734)		(8,109)
	Income tax paid		(225)		(224)
	Net Cash Flows From Operating Activities		93,308		43,109
	CASH FLOWS FROM INVESTING ACTIVITIES
	Fixed assets - Tangible		(2,149)		(2,322)
	Long term loans and deposits		73		213
	Net Cash Flows From Investing Activities		(2,076)		(2,109)
	CASH FLOWS FROM FINANCING ACTIVITIES
	Repayment of lease liability (Net)		(846)		(189)
	Past dues - CBA		(5,839)		(1,193)
	Sponsors loans		(25,156)		31,629
	Short term borrowings		(27,212)		(43,895)
	Long term loans and liabilities		(32,085)		(9,466)
	Net Cash Flows From Financing Activities		(91,138)		(23,114)
	Net Increase /(Decrease) in Cash and Cash Equivalents		94		17,886
	Cash and cash equivalents at beginning of the period		8,028		20,087
	Cash and cash equivalents at end of the period		8,122		37,973
	A.SHOEB PIRACHA		SHAFFI UDDIN PERACHA
	DIRECTOR		CHIEF EXECUTIVE