First Punjab Modaraba 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 2021
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	Jun '21 Jun 30, 2021
Net Income	-241.03	-94.37	-111.56	-89.58	2.97	15.02
Depreciation & Amortization	1.33	1.26	1.54	1.51	0.84	1.16
Other Amortization	58.01	50.26	86.19	135.94	82.09	121.91
Loss (Gain) From Sale of Assets	-10.83	-17.19	-13.59	6.07	-0.66	-2.43
Loss (Gain) From Sale of Investments	-20.11	-27.05	-11.12	3.74	-10.34	-18.17
Other Operating Activities	-34.29	-133.79	28.48	-28.55	-0.62	-14.28
Change in Accounts Receivable	26.54	32.32	33.62	51.15	44.17	18.16
Change in Inventory	52.85	27.07	3.67	-13.89	-32.51	-6.98
Change in Accounts Payable	1.57	2.88	48.4	-54.43	-1.66	25.41
Change in Other Net Operating Assets	36.97	-381.33	-8.89	-201.88	-29.99	43.98
Operating Cash Flow	-128.87	-539.93	56.74	-189.91	54.29	183.79
Operating Cash Flow Growth	-	-	-	-	-70.46%	-
Capital Expenditures	125.23	-0.85	-2.63	-62.89	-37.4	-0.63
Sale of Property, Plant & Equipment	-68.9	2.65	1	32.43	27.26	0.03
Divestitures	-	-	85.49	-	-	-
Sale (Purchase) of Intangibles	-	-	-	-0.9	-1.1	-
Investment in Securities	235.18	240.18	-150	-	-200	-
Other Investing Activities	17.98	87.56	56.28	29.33	-4.34	0.59
Investing Cash Flow	309.49	329.54	-9.87	-2.03	-215.58	-0.01
Short-Term Debt Issued	-	-	-	-	-	0.55
Long-Term Debt Issued	-	-	-	222	588.9	-
Total Debt Issued	-	-	-	222	588.9	0.55
Long-Term Debt Repaid	-	-	-	-131.1	-404.03	-113.61
Net Debt Issued (Repaid)	-1,485	-	-	90.9	184.87	-113.06
Issuance of Common Stock	2,000	-	500	-	-	-
Common Dividends Paid	-0.01	-0.08	-0	-0.01	-0.16	-0.09
Other Financing Activities	0	-	-340	-	-	-
Financing Cash Flow	14.99	-0.08	160	90.89	184.71	-113.15
Net Cash Flow	195.61	-210.46	206.87	-101.05	23.41	70.63
Free Cash Flow	-3.63	-540.79	54.11	-252.8	16.89	183.16
Free Cash Flow Growth	-	-	-	-	-90.78%	-
Free Cash Flow Margin	-1.56%	-144.37%	17.46%	-119.40%	19.80%	105.58%
Free Cash Flow Per Share	-0.11	-15.90	1.59	-7.43	0.50	5.38
Cash Interest Paid	347.64	370	282.87	215.27	56.16	133.22
Cash Income Tax Paid	21.99	21.99	8.82	7.66	0.43	1.31
Levered Free Cash Flow	141.41	-26.28	119.23	17.71	-	136.12
Unlevered Free Cash Flow	358.46	205.23	343.03	155.52	-	210.53
Change in Working Capital	117.94	-319.06	76.8	-219.04	-19.99	80.58

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