Madhusudan Masala Cash Flow Statement

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

Millions INR. Fiscal year is Apr - Mar.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '25 Sep 30, 2025	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	161.49	150.23	91.97	57.55	8.13	4.5
Depreciation & Amortization	27.45	23.65	9.29	6.31	6.67	5.6
Loss (Gain) From Sale of Assets	-30.65	-30.65	-	-	-	-
Other Operating Activities	70.57	68.58	42.38	29.09	15.34	17.17
Change in Accounts Receivable	138.65	-94.03	-193.09	-38.53	-0.74	-6.88
Change in Inventory	-402.44	-479.84	-195.48	-70.77	-83.92	39.19
Change in Accounts Payable	-102.51	-0.35	21.44	-46.57	12.59	-54.39
Change in Other Net Operating Assets	-6.96	-26.87	-62.22	-29.35	-8.62	12.25
Operating Cash Flow	-144.41	-389.3	-285.71	-92.27	-50.55	17.45
Capital Expenditures	-38.44	-28.48	-34.34	-61.18	-	-9.35
Sale of Property, Plant & Equipment	33.83	33.83	-	0.01	4.17	-
Investment in Securities	-33.42	-77.5	-	-	-	-
Other Investing Activities	1.57	1.15	0.81	0.04	0.01	0.12
Investing Cash Flow	-40	-72.22	-25.6	-63.08	4.12	-7.93
Short-Term Debt Issued	-	228.41	85.4	105.8	-	2.13
Long-Term Debt Issued	-	-	8.07	33.96	102.27	6.19
Total Debt Issued	221.61	228.41	93.46	139.77	102.27	8.31
Short-Term Debt Repaid	-	-	-	-	-35	-
Long-Term Debt Repaid	-	-51.8	-	-	-	-
Total Debt Repaid	-59.15	-51.8	-	-	-35	-
Net Debt Issued (Repaid)	162.46	176.62	93.46	139.77	67.27	8.31
Issuance of Common Stock	89.32	336.21	262.41	49.9	-	0.92
Repurchase of Common Stock	-	-	-	-	-4.82	-
Other Financing Activities	-66.14	-62.88	-44.59	-32.68	-16.39	-17.94
Financing Cash Flow	185.64	449.95	311.29	156.99	46.06	-8.71
Net Cash Flow	1.23	-11.58	-0.02	1.64	-0.37	0.81
Free Cash Flow	-182.85	-417.78	-320.05	-153.45	-50.55	8.09
Free Cash Flow Margin	-7.33%	-18.09%	-19.73%	-12.06%	-7.73%	1.18%
Free Cash Flow Per Share	-12.66	-30.40	-28.78	-17.05	-53.24	8.52
Cash Interest Paid	66.14	62.88	44.59	32.68	16.39	17.94
Cash Income Tax Paid	50.93	43.14	32.03	19.65	2.61	2.32
Levered Free Cash Flow	-253.48	-504.05	-364.61	-207.22	-77.36	-
Unlevered Free Cash Flow	-215.26	-467.87	-340.23	-188.83	-67.24	-
Change in Working Capital	-373.26	-601.1	-429.35	-185.22	-80.69	-9.82

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.