MRF Limited (NSE:MRF)

MRF 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	22,792	24,261	18,733	20,812	7,689	6,692
Depreciation & Amortization	17,884	17,448	16,434	14,194	12,443	11,952
Other Amortization	88.4	88.4	101.9	106.1	87.3	98.3
Loss (Gain) From Sale of Assets	-263.7	17.6	24.4	106.8	75.1	22
Asset Writedown & Restructuring Costs	-	-	-	45.9	-	71
Loss (Gain) From Sale of Investments	-1,664	-2,248	-2,293	-1,602	-1,064	-1,629
Provision & Write-off of Bad Debts	7.7	7.5	8.3	8.4	1.7	6.3
Other Operating Activities	2,460	3,827	2,747	2,617	1,964	2,094
Change in Accounts Receivable	-3,952	-1,600	-4,631	-4,086	-1,715	-1,876
Change in Inventory	-17,859	2,080	-11,562	-3,275	-113.8	-11,909
Change in Accounts Payable	12,557	3,798	1,735	2,158	3,797	-12,499
Change in Other Net Operating Assets	1,500	-1,776	-2,650	1,949	4,389	1,196
Operating Cash Flow	33,550	45,903	18,648	33,034	27,555	-5,780
Operating Cash Flow Growth	25.46%	146.16%	-43.55%	19.88%	-	-

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	-18,199	-14,343	-13,095	-21,635	-32,912	-17,070
Sale of Property, Plant & Equipment	2,367	82.3	136.3	11.8	11.8	23.7
Investment in Securities	-18,140	-22,432	-8,928	-3,112	12,512	17,826
Other Investing Activities	836.5	1,250	1,148	980.9	1,161	884.4
Investing Cash Flow	-33,093	-35,362	-20,773	-23,820	-19,235	1,676

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
Short-Term Debt Issued	-	-	9,195	-	-	7,859
Long-Term Debt Issued	-	-	-	-	1,578	3,000
Total Debt Issued	11,124	-	9,195	-	1,578	10,859
Short-Term Debt Repaid	-	-1,866	-	-2,026	-2,545	-
Long-Term Debt Repaid	-	-5,461	-2,816	-3,033	-4,107	-3,635
Lease Payments	-2,058	-1,950	-1,806	-1,525	-1,213	-967.8
Total Debt Repaid	-7,431	-7,326	-2,816	-5,059	-6,652	-3,635
Net Debt Issued (Repaid)	3,693	-7,326	6,379	-5,059	-5,074	7,225
Common Dividends Paid	-996.6	-996.6	-848.2	-742.2	-636.2	-636.2
Other Financing Activities	-2,828	-2,880	-2,711	-2,881	-2,685	-2,351
Financing Cash Flow	-131.3	-11,203	2,820	-8,682	-8,395	4,237

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	-80.4	-30.8	1	14.6	16.6	11
Net Cash Flow	245.5	-692.6	695.8	545.6	-58.8	144.6

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	15,351	31,561	5,553	11,399	-5,358	-22,850
Free Cash Flow Growth	8.30%	468.34%	-51.28%	-	-	-
Free Cash Flow Margin	4.63%	10.13%	1.97%	4.53%	-2.33%	-11.82%
Free Cash Flow Per Share	3619.59	7441.51	1309.34	2687.63	-1263.27	-5387.75
Levered Free Cash Flow	7,374	23,643	757.5	5,241	-6,996	-26,090
Unlevered Free Cash Flow	9,552	25,840	2,969	7,417	-5,032	-24,532
Free Cash Flow After Leases	13,293	29,611	3,747	9,874	-6,571	-23,818

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	2,844	2,896	2,726	2,896	2,698	2,361
Cash Income Tax Paid	6,239	6,820	5,912	7,222	3,278	2,135
Change in Working Capital	-7,754	2,502	-17,108	-3,254	6,358	-25,088

Data Source: S&P Global Market Intelligence Last updated: Nov 10, 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 13, 2026

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