United Spirits Cash Flow Statement

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

Millions INR. Fiscal year is Apr - Mar.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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	15,820	14,080	11,370	8,286	3,836
Depreciation & Amortization	2,700	2,610	2,720	2,941	2,749
Other Amortization	130	140	110	97	103
Loss (Gain) From Sale of Assets	-990	-430	-3,920	-129	-501
Asset Writedown & Restructuring Costs	650	480	1,960	340	139
Loss (Gain) From Sale of Investments	-480	-650	-200	-5	226
Loss (Gain) on Equity Investments	70	10	10	-	13
Stock-Based Compensation	170	370	230	255	66
Provision & Write-off of Bad Debts	-90	410	50	-129	510
Other Operating Activities	3,580	610	-530	171	3,001
Change in Accounts Receivable	-3,210	-10,450	-2,760	-2,051	652
Change in Inventory	-2,420	1,630	-2,620	-1,048	-1,244
Change in Accounts Payable	2,500	1,320	2,030	1,227	2,092
Change in Other Net Operating Assets	1,040	1,050	-2,300	-181	6,535
Operating Cash Flow	19,470	11,180	6,150	9,774	18,177
Operating Cash Flow Growth	74.15%	81.79%	-37.08%	-46.23%	132.09%
Capital Expenditures	-1,620	-980	-1,370	-1,340	-1,589
Sale of Property, Plant & Equipment	10	190	270	384	354
Divestitures	-	-	8,500	-	300
Sale (Purchase) of Real Estate	-	-	-	81	-
Investment in Securities	-9,780	2,570	-8,100	-2,216	-20
Other Investing Activities	180	420	200	64	-37
Investing Cash Flow	-11,140	2,260	-550	-3,127	-992
Short-Term Debt Issued	280	250	-	-	-
Total Debt Issued	280	250	-	-	-
Short-Term Debt Repaid	-530	-	-3,390	-5,377	-7,315
Long-Term Debt Repaid	-1,370	-1,270	-1,250	-1,002	-8,333
Total Debt Repaid	-1,900	-1,270	-4,640	-6,379	-15,648
Net Debt Issued (Repaid)	-1,620	-1,020	-4,640	-6,379	-15,648
Common Dividends Paid	-3,550	-2,840	-	-	-
Other Financing Activities	-400	-210	-360	-501	-1,420
Financing Cash Flow	-5,570	-4,070	-5,000	-6,880	-17,068
Net Cash Flow	2,760	9,370	600	-233	117
Free Cash Flow	17,850	10,200	4,780	8,434	16,588
Free Cash Flow Growth	75.00%	113.39%	-43.33%	-49.16%	190.20%
Free Cash Flow Margin	14.79%	9.01%	4.50%	8.68%	20.40%
Free Cash Flow Per Share	25.14	14.37	6.74	11.89	23.39
Cash Interest Paid	400	210	360	501	1,420
Cash Income Tax Paid	1,630	3,370	2,680	4,570	1,068
Levered Free Cash Flow	13,210	10,798	7,593	7,662	14,113
Unlevered Free Cash Flow	13,766	11,273	8,243	8,212	15,286
Change in Working Capital	-2,090	-6,450	-5,650	-2,053	8,035

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.