Shardul Securities Cash Flow Statement

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

Millions INR. Fiscal year is Apr - Mar.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	2016 - 2020
Period Ending	Sep '25 Sep 30, 2025	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	-777.61	329.91	978.09	22.07	96.3	155.46	Upgrade
Depreciation & Amortization, Total	4.79	4.39	3.91	3.68	3.59	3.58	Upgrade
Gain (Loss) On Sale of Investments	232.58	180.58	-157.9	-79.75	-107.62	-193.93	Upgrade
Change in Accounts Receivable	40.17	11.2	0.52	-1.98	-10.67	1.98	Upgrade
Change in Accounts Payable	-39.53	-11.18	7.4	-5.43	5.59	21.42	Upgrade
Change in Other Net Operating Assets	63.79	-154.22	42.66	-105.27	-32.5	1.03	Upgrade
Other Operating Activities	-201.43	-61.83	40.31	-16.22	1.25	40.44	Upgrade
Operating Cash Flow	-147.72	-359.45	213.19	-182.79	82.93	-96.96	Upgrade
Capital Expenditures	-6.75	-6.72	-4.6	-1.71	-0.64	-0.3	Upgrade
Investment in Securities	-1,682	101.68	-261.99	165.32	-242.12	207.35	Upgrade
Other Investing Activities	23.05	22.99	13.39	14.03	17.52	8.98	Upgrade
Investing Cash Flow	-1,665	117.95	-240.09	177.64	-225.03	216.03	Upgrade
Long-Term Debt Issued	-	132.7	98.88	-	-	-	Upgrade
Total Debt Issued	1,749	132.7	98.88	-	-	-	Upgrade
Total Debt Repaid	5.05	-	-	-	-	-	Upgrade
Net Debt Issued (Repaid)	1,754	132.7	98.88	-	-	-	Upgrade
Common Dividends Paid	-	-	-	-0.46	-0.41	-0.33	Upgrade
Other Financing Activities	-51.17	-	-	-	-	-	Upgrade
Financing Cash Flow	1,703	132.7	98.88	-0.46	-0.41	-0.33	Upgrade
Net Cash Flow	-109.77	-108.79	71.98	-5.61	-142.51	118.74	Upgrade
Free Cash Flow	-154.47	-366.17	208.6	-184.5	82.29	-97.25	Upgrade
Free Cash Flow Margin	-	-59.58%	12.06%	-278.42%	53.45%	-41.08%	Upgrade
Free Cash Flow Per Share	-1.76	-4.18	2.38	-2.11	0.94	-1.11	Upgrade
Cash Income Tax Paid	133.3	157.05	595.84	8.95	9.72	2.5	Upgrade

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