SML Mahindra Cash Flow Statement

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

Millions INR. Fiscal year is Apr - Mar.

Fiscal Year	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Mar '26 Mar 31, 2026	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022
Net Income	1,598	1,217	1,079	198.35	-997.61
Depreciation & Amortization	520.3	472.74	464.32	413.55	424.22
Other Amortization	-	10.79	10.84	10.77	11.04
Loss (Gain) From Sale of Assets	-1.4	-1.62	-10.77	-0.02	-0.46
Asset Writedown & Restructuring Costs	2.5	5.76	5.21	0.97	7.49
Provision & Write-off of Bad Debts	8.5	4.77	4.12	1.53	0.43
Other Operating Activities	240.4	664.38	278.01	244.17	241.05
Change in Accounts Receivable	-51.2	-961.87	-934.29	43	-377.88
Change in Inventory	-896.5	7.12	-1,605	-1,250	-353.39
Change in Accounts Payable	354.2	383.02	405.72	469.97	623.13
Change in Other Net Operating Assets	-212.4	-27.02	-193.24	768.71	235.86
Operating Cash Flow	1,562	1,775	-496.8	900.63	-186.13
Operating Cash Flow Growth	-12.00%	-	-	-	-
Capital Expenditures	-703.3	-619.82	-424.26	-413.06	-190.24
Sale of Property, Plant & Equipment	2.2	2.54	52.29	0.02	0.48
Investment in Securities	7	-16.12	9.86	-17.98	104.21
Other Investing Activities	35.8	23.99	-95.89	10.16	15.91
Investing Cash Flow	-658.3	-609.41	-458	-420.87	-69.64
Short-Term Debt Issued	-	-	1,260	-	744.24
Long-Term Debt Issued	254.4	580.93	492.57	306.73	100
Total Debt Issued	254.4	580.93	1,753	306.73	844.24
Short-Term Debt Repaid	-87.7	-1,250	-	-104.44	-
Long-Term Debt Repaid	-600.2	-289.52	-195.3	-507.36	-459.09
Total Debt Repaid	-687.9	-1,539	-195.3	-611.79	-459.09
Net Debt Issued (Repaid)	-433.5	-958.27	1,558	-305.06	385.15
Common Dividends Paid	-258.4	-229.46	-0.03	-0.05	-0.09
Other Financing Activities	-197.6	-294.87	-289.49	-246.46	-210.82
Financing Cash Flow	-889.5	-1,483	1,268	-551.57	174.25
Net Cash Flow	14.1	-317.19	313.29	-71.82	-81.52
Free Cash Flow	858.6	1,155	-921.06	487.56	-376.37
Free Cash Flow Growth	-25.66%	-	-	-	-
Free Cash Flow Margin	3.02%	4.81%	-4.19%	2.68%	-4.07%
Free Cash Flow Per Share	59.33	79.81	-63.65	33.69	-26.01
Cash Interest Paid	-	292.78	289.52	246.51	210.9
Cash Income Tax Paid	-	4.64	13.67	-61.53	-105.58
Levered Free Cash Flow	522.55	443.41	-1,848	141.45	-404.84
Unlevered Free Cash Flow	652.17	619.81	-1,672	271.71	-275.73
Change in Working Capital	-805.9	-598.75	-2,327	31.3	127.71

Updated Mar 31, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.