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(From India Business Insight)
Cash flows are on the decline for Corporate India. Net cash flows have declined by 45 percent for the non-finance Bombay Stock Exchange (BSE) 500 companies and operating cash flows have come down by 11 percent for 2005-2006 as compared to 2004-2005. Of the 500 companies, 165 have seen a decline in their operating cash flows for 2005-2006 as against 2004-2005. Of this, around 120 companies witnessed a decline despite a growth in their net profits.
The decline in operating cash flows is attributed to decline in payables and an increase in inventories and receivables. In the case of Reliance …