Al-Ghazi Tractors Cash Flow Statement

Financials in millions PKR. Fiscal year is January - December.

Millions PKR. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	903.58	3,542	2,612	2,156	2,958	1,350
Depreciation & Amortization	440.91	258.13	187.31	120.06	84.85	81.51
Other Amortization	129.4	129.4	0.49	0.9	-	-
Loss (Gain) From Sale of Assets	-15.08	-10.46	-10.58	-2.23	-2.75	-0.78
Provision & Write-off of Bad Debts	256.11	126.25	-	-	-	-
Other Operating Activities	-993.34	-141.69	-339.42	172.97	-71.97	-53.36
Change in Accounts Receivable	-644.71	-5,178	161.82	-157.17	-4.65	9.62
Change in Inventory	1,149	419.53	-894.28	-2,388	-870.57	782.38
Change in Accounts Payable	-1,092	1,546	1,274	623.26	857.46	463.47
Change in Unearned Revenue	-398.35	359.28	20.3	-3,377	3,365	79.62
Change in Other Net Operating Assets	1,964	-1,583	41.02	-1,418	-1,684	-588.48
Operating Cash Flow	1,701	-530.81	3,051	-4,271	4,630	2,125
Operating Cash Flow Growth	-	-	-	-	117.88%	9.73%
Capital Expenditures	-746.42	-489.01	-468.66	-272.38	-126.74	-94.95
Sale of Property, Plant & Equipment	20.22	10.46	14.88	2.81	2.82	15.62
Sale (Purchase) of Intangibles	44.04	-580.06	-0.33	-0.25	-	-
Other Investing Activities	30.43	85.33	442.43	107	89.86	40.42
Investing Cash Flow	-651.73	-973.27	-11.69	-162.82	-34.07	-38.91
Short-Term Debt Issued	-	780.64	-	115	-	-
Total Debt Issued	-1,195	780.64	-	115	-	-
Short-Term Debt Repaid	-	-	-1,251	-	-	-
Long-Term Debt Repaid	-	-19.33	-17.57	-8.37	-	-
Total Debt Repaid	-26.34	-19.33	-1,269	-8.37	-	-
Net Debt Issued (Repaid)	-1,221	761.31	-1,269	106.63	-	-
Common Dividends Paid	-3.3	-4.58	-9.85	-537.69	-1,240	-4.71
Other Financing Activities	-	-	44	2,785	-	-
Financing Cash Flow	-1,224	756.73	-1,235	2,354	-1,240	-4.71
Net Cash Flow	-175.45	-747.36	1,805	-2,080	3,356	2,082
Free Cash Flow	954.32	-1,020	2,583	-4,543	4,504	2,030
Free Cash Flow Growth	-	-	-	-	121.82%	25.63%
Free Cash Flow Margin	4.66%	-2.95%	7.48%	-16.11%	21.88%	17.01%
Free Cash Flow Per Share	16.46	-17.59	44.56	-78.38	77.70	35.03
Cash Interest Paid	441.16	279.29	227.02	18.84	22.66	234.93
Cash Income Tax Paid	1,411	2,123	1,908	1,496	1,170	413.24
Levered Free Cash Flow	887.66	-1,702	3,190	-1,667	4,136	1,996
Unlevered Free Cash Flow	1,153	-1,425	3,267	-1,578	4,141	2,086
Change in Working Capital	977.64	-4,436	602.51	-6,718	1,664	746.62

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