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 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	94.36	94.64	105.34	75.79	50.07
Depreciation & Amortization, Total	5.37	5.53	3.53	2.87	2.32
Gain (Loss) On Sale of Investments	-0	-0.15	3.47	1.01	-0.06
Stock-Based Compensation	2.12	7.7	-	-	-
Change in Accounts Receivable	-39.54	-43.96	-36.41	27.66	-16.45
Change in Accounts Payable	11.94	-0.92	0.91	31.25	232.66
Change in Other Net Operating Assets	111.06	-188.86	49.93	-146.64	183.81
Other Operating Activities	-80.27	-101.15	-86.46	-44.12	-38.27
Operating Cash Flow	105.03	-226.27	41.2	-51.42	412.02
Capital Expenditures	-1.47	-5.47	-5.48	-1.91	-6.56
Investment in Securities	174.61	298.95	-58.07	-14.75	-266.88
Other Investing Activities	96.89	103.02	94.88	63.71	44.97
Investing Cash Flow	270.03	396.5	31.33	47.06	-228.37
Short-Term Debt Issued	-	-	-	-	0.03
Long-Term Debt Issued	-	-	-	65.99	5.4
Total Debt Issued	-	-	-	65.99	5.43
Long-Term Debt Repaid	-0.84	-1.05	-1.18	-16.86	-0.45
Total Debt Repaid	-0.84	-1.05	-1.18	-16.86	-0.45
Net Debt Issued (Repaid)	-0.84	-1.05	-1.18	49.13	4.99
Issuance of Common Stock	2.5	4.48	99.9	-	73.92
Common Dividends Paid	-20.75	-15.38	-12.6	-8.4	-6.05
Other Financing Activities	-7.5	-7.6	-10.47	-16.54	-10.24
Financing Cash Flow	-26.59	-19.54	75.65	24.2	62.62
Net Cash Flow	348.48	150.68	148.18	19.84	246.27
Free Cash Flow	103.56	-231.75	35.72	-53.33	405.46
Free Cash Flow Growth	-	-	-	-	32.36%
Free Cash Flow Margin	16.55%	-40.28%	6.36%	-11.79%	96.13%
Free Cash Flow Per Share	2.47	-5.55	0.97	-1.59	17.83
Cash Interest Paid	7.5	7.41	10.37	16.54	10.24
Cash Income Tax Paid	39.2	38.72	38.21	25.63	20.76

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