Cash Flow Statement

Currency: INR

	Mar-2020	Sep-2020	Mar-2021	Sep-2021	Mar-2022	Sep-2022	Mar-2023	Sep-2023	Mar-2024	Sep-2024	Mar-2025
Operating Cash Flow
Net Income	358	387	442	510	539	593	596	665	728	738	852
Depreciation & Amortization	32	31	30	30	33	35	39	48	60	67	38
Other Non-Cash Items	14	(27)	(1)	64	128	161	220	266	343	488	(5 352)
Cash Taxes Paid	82	82	102	128	137	150	159	178	185	186	209
Cash Interest Paid	25	22	48	90	112	146	202	306	426	509	20
Change in Working Capital	(1 233)	(824)	(1 157)	(1 207)	(1 077)	(1 379)	(2 398)	(3 319)	(2 484)	(1 633)	8 941
Cash from Operating Activities	(829) N/A	(433) +48%	(686) -59%	(604) +12%	(377) +38%	(590) -56%	(1 542) -161%	(2 339) -52%	(1 352) +42%	(340) +75%	4 478 N/A
Investing Cash Flow
Capital Expenditures	(29)	(10)	(32)	(40)	(45)	(63)	(77)	(96)	(113)	(85)	(42)
Other Items	764	244	257	247	105	136	82	64	64	(417)	213
Cash from Investing Activities	735 N/A	234 -68%	226 -4%	207 -8%	60 -71%	73 +22%	5 -94%	(32) N/A	(49) -53%	(502) -923%	171 N/A
Financing Cash Flow
Net Issuance of Common Stock	0	0	0	0	0	0	0	0	21	21	0
Net Issuance of Debt	162	215	464	616	521	612	1 755	2 714	1 856	1 378	(4 694)
Cash Paid for Dividends	(3)	(0)	0	0	0	0	0	0	0	0	0
Other	(25)	(22)	(48)	(90)	(112)	(146)	(202)	(306)	(447)	(509)	(20)
Cash from Financing Activities	134 N/A	193 +44%	416 +115%	526 +27%	410 -22%	466 +14%	1 553 +233%	2 408 +55%	1 430 -41%	870 -39%	(4 713) N/A
Change in Cash
Net Change in Cash	40 N/A	(6) N/A	(44) -690%	130 N/A	92 -29%	(51) N/A	16 N/A	36 +124%	28 -22%	27 -5%	(64) N/A
Free Cash Flow
Free Cash Flow	(858) N/A	(443) +48%	(717) -62%	(643) +10%	(422) +34%	(652) -55%	(1 619) -148%	(2 435) -50%	(1 465) +40%	(426) +71%	4 437 N/A

Paul Merchants Ltd
BSE:539113