Subex 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	-314.4	-1,917	-512.1	209.9	517.2
Depreciation & Amortization	140.8	155.5	139.6	98.7	137.5
Other Amortization	0.4	0.4	0.3	0.1	0.3
Loss (Gain) From Sale of Assets	-41.2	0.1	-0.3	-	-0.4
Asset Writedown & Restructuring Costs	-	1,480	-	-	-
Loss (Gain) From Sale of Investments	-3.7	-6	-6.2	-2.2	-
Stock-Based Compensation	8.9	12.3	23.1	13.7	14.7
Provision & Write-off of Bad Debts	211	62	199.1	53.6	-15.3
Other Operating Activities	19	29.3	25.2	-184.1	271.7
Change in Accounts Receivable	40.9	-195.9	-32.8	-2.7	-6.3
Change in Accounts Payable	-46.3	128.2	-74.7	32.9	-43.7
Change in Other Net Operating Assets	82.1	169.1	330.9	-300.9	33.8
Operating Cash Flow	97.5	-82.8	92.1	-81	909.5
Operating Cash Flow Growth	-	-	-	-	37.30%
Capital Expenditures	-24.1	-27.3	-49.3	-54	-86.2
Sale of Property, Plant & Equipment	0.8	0.9	0.4	-	0.7
Investment in Securities	-77.8	55.1	-15.9	-114.3	-15.4
Other Investing Activities	-48.6	317.5	-312.9	-185.1	30.9
Investing Cash Flow	-149.7	346.2	-377.7	-353.4	-70
Short-Term Debt Issued	-	-	-	-	60
Total Debt Issued	-	-	-	-	60
Long-Term Debt Repaid	-100.9	-89.5	-53.2	-38.9	-93.1
Total Debt Repaid	-100.9	-89.5	-53.2	-38.9	-93.1
Net Debt Issued (Repaid)	-100.9	-89.5	-53.2	-38.9	-33.1
Issuance of Common Stock	-	20.3	10.1	44	14.1
Repurchase of Common Stock	-	-	-	-	-2.2
Common Dividends Paid	-	-0.1	-	-140.5	-274.6
Other Financing Activities	-19.6	-24.1	-22	-17.8	-27.1
Financing Cash Flow	-120.5	-93.4	-65.1	-153.2	-322.9
Foreign Exchange Rate Adjustments	4	-1.5	20.6	12.1	8.5
Net Cash Flow	-168.7	168.5	-330.1	-575.5	525.1
Free Cash Flow	73.4	-110.1	42.8	-135	823.3
Free Cash Flow Growth	-	-	-	-	31.29%
Free Cash Flow Margin	2.57%	-3.55%	1.54%	-4.05%	22.13%
Free Cash Flow Per Share	0.13	-0.20	0.08	-0.24	1.49
Cash Interest Paid	19.6	24.1	22	17.8	27.1
Cash Income Tax Paid	85.6	139.3	44.9	227.8	140.4
Levered Free Cash Flow	143.18	108.2	233.89	-49.79	585.65
Unlevered Free Cash Flow	155.43	123.26	247.83	-38.6	602.9
Change in Working Capital	76.7	101.4	223.4	-270.7	-16.2

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