B. N. Rathi 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
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	94.64	105.34	75.79	50.07	36.37
Depreciation & Amortization, Total	5.53	3.53	2.87	2.32	2.15
Gain (Loss) On Sale of Investments	-0.15	3.47	1.01	-0.06	-
Stock-Based Compensation	7.7	-	-	-	-
Change in Accounts Receivable	-43.96	-36.41	27.66	-16.45	-46.61
Change in Accounts Payable	-0.92	0.91	31.25	232.66	458.86
Change in Other Net Operating Assets	-188.86	49.93	-146.64	183.81	-88.06
Other Operating Activities	-101.15	-86.46	-44.12	-38.27	-26.78
Operating Cash Flow	-226.27	41.2	-51.42	412.02	336.1
Capital Expenditures	-5.47	-5.48	-1.91	-6.56	-29.77
Investment in Securities	298.95	-58.07	-14.75	-266.88	-448.26
Other Investing Activities	103.02	94.88	63.71	44.97	33.79
Investing Cash Flow	396.5	31.33	47.06	-228.37	-444.25
Short-Term Debt Issued	-	-	-	0.03	0.41
Long-Term Debt Issued	-	-	65.99	5.4	16.86
Total Debt Issued	-	-	65.99	5.43	17.27
Long-Term Debt Repaid	-1.05	-1.18	-16.86	-0.45	-0.53
Total Debt Repaid	-1.05	-1.18	-16.86	-0.45	-0.53
Net Debt Issued (Repaid)	-1.05	-1.18	49.13	4.99	16.75
Issuance of Common Stock	4.48	99.9	-	73.92	-
Common Dividends Paid	-15.38	-12.6	-8.4	-6.05	-
Other Financing Activities	-7.6	-10.47	-16.54	-10.24	-5.87
Financing Cash Flow	-19.54	75.65	24.2	62.62	10.88
Net Cash Flow	150.68	148.18	19.84	246.27	-97.27
Free Cash Flow	-231.75	35.72	-53.33	405.46	306.33
Free Cash Flow Growth	-	-	-	32.36%	129.59%
Free Cash Flow Margin	-40.28%	6.36%	-11.79%	96.13%	94.23%
Free Cash Flow Per Share	-5.55	0.97	-1.59	17.83	15.20
Cash Interest Paid	7.41	10.37	16.54	10.24	5.87
Cash Income Tax Paid	38.72	38.21	25.63	20.76	15.23

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