The Sandesh 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	771.22	1,886	1,014	898.25	899.83
Depreciation & Amortization	73.14	66.17	58.75	64.25	69.36
Other Amortization	0.06	0.11	0.02	-	-
Loss (Gain) From Sale of Assets	-4.75	-1.26	-19.58	-23.02	-15.28
Loss (Gain) From Sale of Investments	-252.14	-1,530	-247.69	-173.56	-428.44
Other Operating Activities	-96.46	176.04	-69.4	-107.07	-2.75
Change in Accounts Receivable	-108.7	-29.62	-42.79	89.32	167.38
Change in Inventory	-101.03	-8.65	162.32	-107.87	-84.82
Change in Accounts Payable	-2.26	-31.76	-52.36	-330.75	381.17
Change in Other Net Operating Assets	394.67	1,012	33.65	-86.32	-498.75
Operating Cash Flow	673.75	1,539	837.07	223.24	487.7
Operating Cash Flow Growth	-56.22%	83.83%	274.96%	-54.23%	-
Capital Expenditures	-31.72	-47.34	-28.43	-5.53	-5.18
Sale of Property, Plant & Equipment	6.69	1.74	23.81	24.61	34.46
Investment in Securities	-1,179	-1,382	-1,188	212.33	-472.84
Other Investing Activities	119.29	125.89	136.4	95.16	38.8
Investing Cash Flow	-1,085	-1,301	-1,056	326.57	-404.77
Short-Term Debt Repaid	-	-	-1	-	-
Total Debt Repaid	-	-	-1	-	-
Net Debt Issued (Repaid)	-	-	-1	-	-
Common Dividends Paid	-18.92	-37.85	-37.85	-37.85	-37.85
Other Financing Activities	-2.04	-2.57	-1.5	-2	-4.61
Financing Cash Flow	-20.96	-40.41	-40.34	-39.85	-42.46
Net Cash Flow	-432.34	197.12	-259.14	509.97	40.47
Free Cash Flow	642.03	1,491	808.64	217.71	482.52
Free Cash Flow Growth	-56.95%	84.44%	271.42%	-54.88%	-
Free Cash Flow Margin	19.37%	30.58%	21.30%	6.48%	15.04%
Free Cash Flow Per Share	84.82	197.05	106.83	28.76	63.75
Cash Interest Paid	2.04	2.57	1.5	2	4.61
Cash Income Tax Paid	194.87	222.63	255.75	297.23	241.09
Levered Free Cash Flow	917.19	1,415	1,075	474.94	1,784
Unlevered Free Cash Flow	918.46	1,417	1,076	476.19	1,787
Change in Working Capital	182.69	941.84	100.83	-435.61	-35.02

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.