Max Estates 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
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
Net Income	558	408.1	-421.63	190.15	49.99
Depreciation & Amortization	327.57	334.76	248.19	149.05	106.54
Other Amortization	6.21	6.21	5.83	0.04	0.28
Loss (Gain) From Sale of Assets	0.74	-0.07	-	-	0.04
Loss (Gain) From Sale of Investments	-304.43	-219.6	-91.85	-105.97	-
Stock-Based Compensation	19.64	13.36	7.61	10.59	-
Provision & Write-off of Bad Debts	6.99	6.99	-	-	-
Other Operating Activities	-958.2	-788.26	381.68	-153.71	97.62
Change in Accounts Receivable	-7.21	-43.14	8.54	-43.64	-29.66
Change in Inventory	-9,501	-17,142	-1,331	-3,730	188.7
Change in Accounts Payable	832.96	12,902	765.26	150.54	-118.93
Change in Other Net Operating Assets	9,161	6,772	3,134	-1,031	112.51
Operating Cash Flow	141.49	2,250	2,707	-4,564	407.08
Operating Cash Flow Growth	-79.79%	-16.88%	-	-	-
Capital Expenditures	-7,525	-6,772	-3,205	-5,224	-1,288
Sale of Property, Plant & Equipment	0.63	2.67	-	-	-
Investment in Securities	-3,835	-13,677	144.77	4,584	42.89
Other Investing Activities	792.77	515.4	143.76	119.03	35.78
Investing Cash Flow	-10,566	-19,931	-2,917	-521.44	-1,210
Short-Term Debt Issued	-	-	-	-	89.26
Long-Term Debt Issued	-	10,623	639.75	8,921	1,218
Total Debt Issued	10,644	10,623	639.75	8,921	1,307
Long-Term Debt Repaid	-	-4,416	-696.15	-3,472	-280.41
Net Debt Issued (Repaid)	7,019	6,207	-56.4	5,449	1,027
Issuance of Common Stock	28.61	8,009	5.76	2.49	-
Other Financing Activities	589.5	3,447	2,391	-238.49	-247.18
Financing Cash Flow	7,638	17,664	2,341	5,213	779.83
Net Cash Flow	-2,751	-17.16	2,131	127.92	-22.59
Free Cash Flow	-7,383	-4,522	-498.13	-9,788	-881.09
Free Cash Flow Margin	-242.91%	-181.12%	-41.42%	-753.36%	-119.91%
Free Cash Flow Per Share	-49.80	-28.99	-3.39	-66.22	-11.31
Cash Interest Paid	664.02	633.76	667.38	423.61	247.18
Cash Income Tax Paid	859.35	719.34	62.88	322.46	44.06
Levered Free Cash Flow	-6,926	-11,052	-72.97	-8,488	-
Unlevered Free Cash Flow	-6,534	-10,679	-72.97	-8,379	-
Change in Working Capital	484.96	2,489	2,577	-4,654	152.62

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