Dewan Sugar Mills Limited (PSX:DWSM)

Dewan Sugar Mills Cash Flow Statement

Financials in millions PKR. Fiscal year is October - September.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2025	Sep 30, 2024	Sep 30, 2023	Sep 30, 2022	Sep 30, 2021
Net Income	-572.4	-608.93	-863.66	-758.82	-795.11
Depreciation & Amortization	414.08	361.83	463.41	577.59	359.01
Other Amortization	-	66.63	46.97	42.39	38.41
Asset Writedown & Restructuring Costs	-	14.76	-	-	-
Other Operating Activities	-32.21	-83.54	-109.51	-149.58	-49.78
Change in Accounts Receivable	-9.74	-16.33	-1.73	-10.28	11.63
Change in Inventory	344.12	829.7	-287.2	81.22	-272.3
Change in Accounts Payable	-380.54	-647.57	854.37	709.55	309.15
Change in Other Net Operating Assets	307.4	186.65	-46.39	-455.25	447.43
Operating Cash Flow	70.72	103.21	56.27	36.82	48.44
Operating Cash Flow Growth	-31.48%	83.43%	52.80%	-23.97%	241.87%
Capital Expenditures	-0.67	-21.2	-173.3	-13.65	-18.49
Investing Cash Flow	-0.67	-21.2	-173.3	-13.65	-18.49
Long-Term Debt Issued	-	-	67.56	-	-
Long-Term Debt Repaid	-82.61	-87.81	-	-	-3.05
Net Debt Issued (Repaid)	-82.61	-87.81	67.56	-	-3.05
Financing Cash Flow	-82.61	-87.81	67.56	-	-3.05
Net Cash Flow	-12.57	-5.8	-49.48	23.18	26.9
Free Cash Flow	70.05	82.02	-117.03	23.18	29.94
Free Cash Flow Growth	-14.59%	-	-	-22.60%	-
Free Cash Flow Margin	5.40%	3.30%	-1.89%	0.27%	0.50%
Free Cash Flow Per Share	0.77	0.90	-1.28	0.25	0.33
Cash Interest Paid	0.38	0.18	0.21	0.35	0.22
Cash Income Tax Paid	13.02	28.68	78.76	88.61	52.62
Levered Free Cash Flow	285.9	304.49	601.14	666.93	370.18
Unlevered Free Cash Flow	317.73	279.5	583.53	651.04	355.86
Change in Working Capital	261.24	352.46	519.05	325.25	495.91

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