Mahindra EPC Irrigation Cash Flow Statement

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

Millions INR. Fiscal year is Apr - Mar.

Fiscal Year	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Mar '26 Mar 31, 2026	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022
Net Income	126.9	72.1	16.7	-123.1	-79.1
Depreciation & Amortization	31.2	32.6	30.2	29.6	30.9
Other Amortization	0.4	1	1.3	1.2	0.7
Loss (Gain) From Sale of Assets	0.4	0.1	-	0.8	-0.5
Loss (Gain) From Sale of Investments	-	-	-	-	19.3
Loss (Gain) on Equity Investments	-	-	4.8	2.8	4.1
Stock-Based Compensation	0.2	0.5	0.4	0.1	6.1
Provision & Write-off of Bad Debts	56.7	63.1	102.7	82.6	-
Other Operating Activities	42.3	18.1	14.1	-54.9	-30.6
Change in Accounts Receivable	-762.6	-336.8	-315.2	393.6	-50
Change in Inventory	49.7	27.6	-42.4	-41.7	-17.6
Change in Accounts Payable	262.1	120.4	72.7	-29.5	-21.6
Change in Other Net Operating Assets	29.9	-42.6	130.5	-71.2	-93
Operating Cash Flow	-162.8	-43.9	15.8	190.3	-231.3
Operating Cash Flow Growth	-	-	-91.70%	-	-
Capital Expenditures	-21.7	-19.6	-24.8	-21.8	-8.2
Sale of Property, Plant & Equipment	-	0.6	0.6	0.3	1.4
Investment in Securities	-0.2	1.7	6.5	-4.2	-
Other Investing Activities	1	2	1	1.7	-2.8
Investing Cash Flow	-20.9	-15.3	-16.7	-24	-9.6
Short-Term Debt Issued	1,250	200	4.2	-	251.9
Total Debt Issued	1,250	200	4.2	-	251.9
Short-Term Debt Repaid	-1,050	-104.2	-	-101.9	-
Long-Term Debt Repaid	-1.2	-1.3	-1.1	-	-0.3
Total Debt Repaid	-1,051	-105.5	-1.1	-101.9	-0.3
Net Debt Issued (Repaid)	199.1	94.5	3.1	-101.9	251.6
Issuance of Common Stock	0.1	0.2	0.2	0.5	-
Common Dividends Paid	-	-	-	-	-33.5
Other Financing Activities	-32.1	-20.6	-44.6	-21.1	-21
Financing Cash Flow	167.1	74.1	-41.3	-122.5	197.1
Net Cash Flow	-16.6	14.9	-42.2	43.8	-43.8
Free Cash Flow	-184.5	-63.5	-9	168.5	-239.5
Free Cash Flow Margin	-5.91%	-2.33%	-0.34%	8.01%	-11.30%
Free Cash Flow Per Share	-6.60	-2.27	-0.32	6.04	-8.60
Cash Interest Paid	32.1	20.6	44.6	21.1	21
Cash Income Tax Paid	-0.3	19.1	-8	15	23.3
Levered Free Cash Flow	4.2	-124.39	-195.51	-33.86	-164.93
Unlevered Free Cash Flow	23.7	-110.7	-179.14	-20.3	-153.24
Change in Working Capital	-420.9	-231.4	-154.4	251.2	-182.2

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