ZF Steering Gear (India) Cash Flow Statement

Financials in millions INR. Fiscal year is April - March.

Millions INR. Fiscal year is Apr - Mar.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022	Mar '21 Mar 31, 2021
Net Income	149.2	436.9	245.4	182.7	88.5
Depreciation & Amortization	422.5	333.7	318.5	308.7	369.3
Other Amortization	5.3	3.4	3.3	5.2	6.6
Loss (Gain) From Sale of Assets	-0.7	-32.3	5.9	1	-1.6
Loss (Gain) From Sale of Investments	-128.8	-231.5	-47.5	-143.4	-230.1
Other Operating Activities	73.6	-15.1	46.4	69.7	-34.3
Change in Accounts Receivable	-130.3	-8.8	-165.9	-119.5	-291.3
Change in Inventory	-1.7	-90	-6.3	-203.5	-142.8
Change in Accounts Payable	78.7	21.3	79.6	-25	-33.9
Change in Other Net Operating Assets	-75.3	-68.6	9.3	75.8	6.5
Operating Cash Flow	392.5	349	488.7	151.7	-263.1
Operating Cash Flow Growth	12.46%	-28.59%	222.15%	-	-
Capital Expenditures	-590.3	-941.8	-396.6	-332.7	-101.7
Sale of Property, Plant & Equipment	3	44.8	2.1	2.6	2.9
Investment in Securities	-84.4	365	-240.2	161.6	95.6
Other Investing Activities	17	9.8	8.8	6.9	12.5
Investing Cash Flow	-654.7	-522.2	-625.9	-161.6	9.3
Long-Term Debt Issued	576.2	1,110	638.9	253.9	274.9
Total Debt Issued	576.2	1,110	638.9	253.9	274.9
Long-Term Debt Repaid	-376.1	-722.8	-514.3	-281.5	-9.4
Net Debt Issued (Repaid)	200.1	387.6	124.6	-27.6	265.5
Common Dividends Paid	-72.3	-47.5	-	-0.8	-0.8
Other Financing Activities	29.4	-54.6	-7.2	-3.1	-2.2
Financing Cash Flow	157.2	285.5	117.4	-31.5	262.5
Net Cash Flow	-105	112.3	-19.8	-41.4	8.7
Free Cash Flow	-197.8	-592.8	92.1	-181	-364.8
Free Cash Flow Margin	-4.00%	-12.40%	2.04%	-5.78%	-18.09%
Free Cash Flow Per Share	-21.80	-65.33	10.15	-19.95	-40.21
Cash Interest Paid	65.6	10.1	7.2	3.1	2.2
Cash Income Tax Paid	75.5	98.9	67.4	46.1	4.4
Levered Free Cash Flow	-130.03	-449.23	39.81	-360.8	-322.76
Unlevered Free Cash Flow	-89.53	-443.54	43.69	-359.43	-321.64
Change in Working Capital	-128.6	-146.1	-83.3	-272.2	-461.5

Source: S&P Global Market Intelligence. Standard template. Financial Sources.