Madhusudan Securities 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	2016 - 2020
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	2016 - 2020
Net Income	-8.25	1.21	-1.36	-0.95	-0.65	Upgrade
Other Operating Activities	2.95	0.24	0.01	-0.06	-0.15	Upgrade
Change in Other Net Operating Assets	-81.89	96.98	0.75	0.6	3.32	Upgrade
Operating Cash Flow	-87.2	98.43	-0.61	-0.41	2.52	Upgrade
Investment in Securities	-45.75	-98.32	0.51	-0.09	-2.13	Upgrade
Other Investing Activities	0.01	0.01	0.01	0.05	0.14	Upgrade
Investing Cash Flow	-45.74	-98.31	0.52	-0.04	-1.99	Upgrade
Issuance of Common Stock	146.25	-	-	-	-	Upgrade
Financing Cash Flow	146.25	-	-	-	-	Upgrade
Net Cash Flow	13.32	0.12	-0.09	-0.45	0.53	Upgrade
Cash Income Tax Paid	0.05	-	-0.01	0.01	0.01	Upgrade
Levered Free Cash Flow	-85.17	98.14	-0.11	0.01	2.91	Upgrade
Unlevered Free Cash Flow	-85.17	98.14	-0.11	0.01	2.91	Upgrade
Change in Net Working Capital	81.89	-97.23	-0.75	-0.6	-3.32	Upgrade

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