Northern Spirits 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	2016 - 2020
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	2016 - 2020
Net Income	229.7	165.73	111.34	60.03	29.67	Upgrade
Depreciation & Amortization	2.96	2.32	2.29	1.23	1.62	Upgrade
Other Operating Activities	240.75	148.46	115.6	69.62	52.36	Upgrade
Change in Accounts Receivable	-248.72	-356.61	-436.48	-165.39	-71.06	Upgrade
Change in Inventory	-231.54	-84.85	-109.29	-34.48	18.58	Upgrade
Change in Accounts Payable	-1.72	-32.35	-19.85	-10.86	-18.27	Upgrade
Change in Other Net Operating Assets	-58.83	-78.12	114.13	81.23	-113.29	Upgrade
Operating Cash Flow	-67.42	-235.43	-222.26	1.38	-100.38	Upgrade
Capital Expenditures	-12.79	-3.19	-3.31	-2.97	-	Upgrade
Investing Cash Flow	-12.79	-3.19	-3.31	-2.97	-	Upgrade
Long-Term Debt Issued	335.41	426.76	1,116	24.53	75.85	Upgrade
Total Debt Issued	335.41	426.76	1,116	24.53	75.85	Upgrade
Net Debt Issued (Repaid)	335.41	426.76	1,116	24.53	75.85	Upgrade
Common Dividends Paid	-4.01	-	-	-	-	Upgrade
Other Financing Activities	-161.85	-91.23	-77.77	-49.98	-40.84	Upgrade
Financing Cash Flow	169.55	335.53	1,039	-25.45	35.01	Upgrade
Miscellaneous Cash Flow Adjustments	-	-	-	0	-	Upgrade
Net Cash Flow	89.34	96.92	812.95	-27.03	-65.37	Upgrade
Free Cash Flow	-80.21	-238.61	-225.57	-1.59	-100.38	Upgrade
Free Cash Flow Margin	-0.41%	-1.93%	-2.49%	-0.06%	-6.56%	Upgrade
Free Cash Flow Per Share	-5.00	-14.87	-14.05	-0.10	-6.25	Upgrade
Cash Interest Paid	161.85	91.23	77.77	49.98	40.84	Upgrade
Levered Free Cash Flow	-368.79	-451.76	-391.29	-62.72	-145.13	Upgrade
Unlevered Free Cash Flow	-270.81	-397.54	-346.17	-32.99	-121.02	Upgrade
Change in Working Capital	-540.82	-551.93	-451.49	-129.5	-184.03	Upgrade

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