ICRA Limited (NSE:ICRA)

ICRA Limited Cash Flow Statement

Financials in millions INR. Fiscal year is April - March.

Operating Activities

Fiscal Year	TTM	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Sep 30, 2026	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Net Income	1,996	1,815	1,700	1,511	1,352	1,123
Depreciation & Amortization	303.49	173.31	111.15	105.49	86.12	71.78
Other Amortization	109.29	109.29	52.8	29.15	12.17	6.34
Loss (Gain) From Sale of Assets	-39.86	2.53	-0.25	0.04	-0.77	1.04
Loss (Gain) From Sale of Investments	-503.65	-541.94	-591.5	-532.76	-219.97	-103.65
Stock-Based Compensation	38.33	37.99	35.62	16.53	-	-
Provision & Write-off of Bad Debts	0.21	-	-	-2.08	-3.39	-0.86
Other Operating Activities	-41.44	-95.99	-35.37	-150.18	-213.1	-298.33
Change in Accounts Receivable	-74.88	-50.86	19.4	-100.79	-164.73	162.67
Change in Accounts Payable	8.98	26.72	17.03	-1.03	-8.56	14.37
Change in Other Net Operating Assets	295.2	96.38	139.95	194.78	152.45	-9.64
Operating Cash Flow	2,092	1,573	1,449	1,070	992.58	966.62
Operating Cash Flow Growth	43.96%	8.53%	35.40%	7.81%	2.69%	26.55%

Investing Activities

Fiscal Year	TTM	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Sep 30, 2026	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Capital Expenditures	-161.54	-124.93	-124.12	-68.97	-90.88	-52.22
Sale of Property, Plant & Equipment	51.1	3.68	1.83	0.76	2.38	0.53
Cash Acquisitions	-2,783	-2,456	-	-152.96	-	-
Investment in Securities	1,820	1,275	-188.67	250.6	-937.8	-895.9
Other Investing Activities	170.48	200.41	142.06	245.51	257.92	228.97
Investing Cash Flow	-902.22	-1,102	-168.9	274.94	-768.39	-718.62

Financing Activities

Fiscal Year	TTM	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Sep 30, 2026	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Long-Term Debt Repaid	-	-63.95	-41.97	-86.62	-28.7	-33.02
Lease Payments	-79.76	-61.25	-37.84	-33.91	-28.7	-33.02
Net Debt Issued (Repaid)	-82.26	-63.95	-41.97	-86.62	-28.7	-33.02
Common Dividends Paid	-818.22	-384.83	-412.26	-384.77	-269.38	-259.73
Other Financing Activities	-29.52	-27.96	-27.37	-30.01	-23.18	-20.41
Financing Cash Flow	-1,122	-669.15	-1,031	-1,367	-321.26	-313.16

Net Cash Flow

Fiscal Year	TTM	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Sep 30, 2026	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Foreign Exchange Rate Adjustments	0.24	0.02	0.01	0.35	-0.56	-0.11
Miscellaneous Cash Flow Adjustments	147.04	147.04	-	-	-	-
Net Cash Flow	214.31	-51.43	248.76	-21.74	-97.62	-65.27

Free Cash Flow

Fiscal Year	TTM	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Sep 30, 2026	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Free Cash Flow	1,930	1,448	1,325	1,001	901.7	914.4
Free Cash Flow Growth	44.40%	9.27%	32.33%	11.03%	-1.39%	25.48%
Free Cash Flow Margin	28.40%	24.15%	26.60%	22.44%	22.36%	26.67%
Free Cash Flow Per Share	200.21	150.19	137.54	104.02	93.74	95.06
Levered Free Cash Flow	-232.53	1,549	1,324	892.88	1,028	847.85
Unlevered Free Cash Flow	-215.32	1,576	1,354	957.93	1,036	857.61
Free Cash Flow After Leases	1,850	1,386	1,287	967.22	873	881.38

Additional Metrics

Fiscal Year	TTM	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Sep 30, 2026	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Cash Interest Paid	19.1	17.54	14.72	17.17	13.59	15.61
Cash Income Tax Paid	599.77	635.46	551.79	508.39	475.97	414.52
Change in Working Capital	229.31	72.24	176.38	92.96	-20.84	167.4

Data Source: S&P Global Market Intelligence Last updated: Oct 29, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Nov 9, 2026

Data Sources Report a data error