Mahindra EPC Irrigation 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	72.1	16.7	-123.1	-79.1	189.62
Depreciation & Amortization	32.6	30.2	29.6	30.9	30.43
Other Amortization	1	1.3	1.2	0.7	0.48
Loss (Gain) From Sale of Assets	0.1	-	0.8	-0.5	-0.16
Loss (Gain) From Sale of Investments	-	-	-	19.3	6.19
Loss (Gain) on Equity Investments	-	4.8	2.8	4.1	2.33
Stock-Based Compensation	0.5	0.4	0.1	6.1	3.23
Provision & Write-off of Bad Debts	63.1	102.7	82.6	-	19.77
Other Operating Activities	18.1	14.1	-54.9	-30.6	-28.23
Change in Accounts Receivable	-336.8	-315.2	393.6	-50	-112.1
Change in Inventory	27.6	-42.4	-41.7	-17.6	15.86
Change in Accounts Payable	120.4	72.7	-29.5	-21.6	12.87
Change in Other Net Operating Assets	-42.6	130.5	-71.2	-93	-30.22
Operating Cash Flow	-43.9	15.8	190.3	-231.3	110.07
Operating Cash Flow Growth	-	-91.70%	-	-	14.20%
Capital Expenditures	-19.6	-24.8	-21.8	-8.2	-13.84
Sale of Property, Plant & Equipment	0.6	0.6	0.3	1.4	0.23
Investment in Securities	1.7	6.5	-4.2	-	-
Other Investing Activities	2	1	1.7	-2.8	3.05
Investing Cash Flow	-15.3	-16.7	-24	-9.6	-10.56
Short-Term Debt Issued	200	4.2	-	251.9	30
Total Debt Issued	200	4.2	-	251.9	30
Short-Term Debt Repaid	-104.2	-	-101.9	-	-160
Long-Term Debt Repaid	-1.3	-1.1	-	-0.3	-0.48
Total Debt Repaid	-105.5	-1.1	-101.9	-0.3	-160.48
Net Debt Issued (Repaid)	94.5	3.1	-101.9	251.6	-130.48
Issuance of Common Stock	0.2	0.2	0.5	-	0.58
Common Dividends Paid	-	-	-	-33.5	-33.34
Other Financing Activities	-20.6	-44.6	-21.1	-21	-3.14
Financing Cash Flow	74.1	-41.3	-122.5	197.1	-166.38
Net Cash Flow	14.9	-42.2	43.8	-43.8	-66.87
Free Cash Flow	-63.5	-9	168.5	-239.5	96.23
Free Cash Flow Growth	-	-	-	-	47.30%
Free Cash Flow Margin	-2.33%	-0.34%	8.01%	-11.30%	3.76%
Free Cash Flow Per Share	-2.27	-0.32	6.04	-8.60	3.44
Cash Interest Paid	20.6	44.6	21.1	21	2.98
Cash Income Tax Paid	19.1	-8	15	23.3	82.12
Levered Free Cash Flow	-124.39	-195.51	-33.86	-164.93	46.24
Unlevered Free Cash Flow	-110.7	-179.14	-20.3	-153.24	49.58
Change in Working Capital	-231.4	-154.4	251.2	-182.2	-113.59

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