CARE Ratings cash flow

Latest FY26

Cash from operations: ₹148cr+20.1% on FY25
Capital spending: ₹8.3cr−43.7% on FY25
Free cash flow: ₹139cr+28.8% on FY25
Cash from financing: −₹59.3cr−₹54.0 cr in FY25

₹ crore except per share

Tap a line for its trend	Last 12Mto Sep 2026	FY26Mar 2026	FY25Mar 2025	FY24Mar 2024	FY23Mar 2023	FY22 and earlierAlpha Plus

Changes in working capital
Adjustments to reconcile profit — non-cash items						FY22 and earlierEvery year the company has filed comes with Alpha Plus.
	—	14.4	11.7	10.5	10.5
	—	2.5	2.1	1.7	1.0
	—	−48.5	−45.0	−0.3	−31.6
	—	−0.2	−0.2	−41.2	−0.3
	—	−3.3	−4.4	0.0	0.0
	—	1.8	1.9	2.7	0.0
	—	0.0	−0.2	−0.2	−1.1
	—	0.0	3.5	2.5	0.0
	—	−3.2	0.1	−2.5	0.0
	—	0.0	0.0	0.0	5.6
	—	0.0	0.0	−4.5	−4.3
	—	−2.5	−14.7	−2.4	0.9
	—	0.0	0.0	0.1	6.2
	—	−5.5	6.6	−1.8	−7.4
	—	16.5	9.1	4.0	4.1
	—	0.0	0.0	0.0	0.9
	—	5.4	10.8	17.9	3.7
	—	−0.5	0.0	0.0	0.0
Cash from operating activities
	262	235	192	147	126
	—	−23.2	−18.7	−13.4	−11.8
	—	212	174	133	114
	—	64.5	50.6	42.3	31.7
	—	148	123	90.9	82.2
Cash from investing activities
	—	8.3	14.7	9.2	11.5
	—	0.2	0.0	0.0	0.0
	—	361	89.2	0.0	151
	—	411	3.1	0.0	156
	—	0.0	0.0	321	0.0
	—	0.0	0.0	324	0.0
	—	0.2	0.2	0.3	0.3
	—	105	48.0	39.6	18.4
	—	−242	−5.8	−72.4	0.0
	—	−94.6	−58.4	−39.1	12.9
Cash from financing activities
	—	0.1	0.0	0.0	0.0
	—	6.6	4.2	7.8	2.4
	—	5.2	1.2	2.3	4.1
	—	—	—	1.7	0.0
	—	2.5	2.1	0.0	0.0
	—	58.4	54.9	66.9	59.8
	—	0.0	0.0	0.1	−1.9
	—	−59.3	−54.0	−63.0	−63.3
	—	−6.2	10.5	−11.1	31.8
	—	−6.2	10.5	−11.1	31.8
	—	—	—	38.3	49.4
Reference items
	220	197	155	112	99.3
	42.5%	41.7%	38.6%	33.8%	35.6%
	139	139	108	81.7	70.7
	—	137	86.6	—	—
	₹46.39	₹46.39	₹36.02	₹27.19	₹23.54
	34.93×	—	—	—	—
	—	0.85×	0.88×	0.89×	0.96×
	—	64.5	50.6	42.3	31.7
	—	2.5	2.1	—	—

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From the company's filings with NSE and BSE (Ind-AS), consolidated. For information only, not investment advice.

alphave

CARERATING₹1,620.20

CARE Ratings Limited

· Banking & Finance

₹ CrorePeersICRAMcap ₹4,868 Cr

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In ₹ Crore except Per Share 12 Months Ending	FY23 31/03/2023	FY24 31/03/2024	FY25 31/03/2025	FY26 31/03/2026	Last 12M 30/09/2026
Adjustments to Reconcile Profit — Non-cash Items
+ Depreciation & Amortisation	10.5	10.5	11.7	14.4	—
+ Finance Costs	1.0	1.7	2.1	2.5	—
+ Interest Income	-31.6	-0.3	-45.0	-48.5	—
+ Dividend Income	-0.3	-41.2	-0.2	-0.2	—
+ Fair Value (Gains) / Losses	0.0	0.0	-4.4	-3.3	—
+ Share-based Payments	0.0	2.7	1.9	1.8	—
+ Unrealised FX (Gain) / Loss	-1.1	-0.2	-0.2	0.0	—
+ Other Non-cash Items	0.0	2.5	3.5	0.0	—
+ Other — Cash Effects are Investing / Financing	0.0	-2.5	0.1	-3.2	—
+ Other Reconciling Items	5.6	0.0	0.0	0.0	—
Changes in Working Capital
+ Trade Receivables — Current	-4.3	-4.5	0.0	0.0	—
+ Other Financial Assets — Current	0.9	-2.4	-14.7	-2.5	—
+ Other Financial Assets — Non-current	6.2	0.1	0.0	0.0	—
+ Other Current Assets	-7.4	-1.8	6.6	-5.5	—
+ Other Financial Liabilities — Current	4.1	4.0	9.1	16.5	—
+ Other Financial Liabilities — Non-current	0.9	0.0	0.0	0.0	—
+ Other Current Liabilities	3.7	17.9	10.8	5.4	—
+ Provisions — Current	0.0	0.0	0.0	-0.5	—
Cash from Operating Activities
Profit Before Tax (per I/S)	125.7	146.6	192.3	235.4	261.6
+ Total Adjustments (incl. Working Capital)	-11.8	-13.4	-18.7	-23.2	—
Cash from Operations (pre-tax)	114.0	133.2	173.6	212.2	—
+ Income Taxes Paid	31.7	42.3	50.6	64.5	—
Cash from Operating Activities	82.2	90.9	123.0	147.7	—
Cash from Investing Activities
+ Acq of Fixed Assets (Capex)	11.5	9.2	14.7	8.3	—
+ Disp of Fixed Assets	0.0	0.0	0.0	0.2	—
+ Acq of Other Long-term Assets	150.8	0.0	89.2	360.6	—
+ Disp of Other Long-term Assets	156.4	0.0	3.1	411.1	—
+ Purchase of Investments (Equity / Debt)	0.0	321.2	0.0	0.0	—
+ Sale of Investments (Equity / Debt)	0.0	323.8	0.0	0.0	—
+ Dividends Received — Investing	0.3	0.3	0.2	0.2	—
+ Interest Received — Investing	18.4	39.6	48.0	104.9	—
+ Other Inflows / (Outflows) — Investing	0.0	-72.4	-5.8	-242.1	—
Cash from Investing Activities	12.9	-39.1	-58.4	-94.6	—
Cash from Financing Activities
+ Proceeds from Other Equity Instruments	0.0	0.0	0.0	0.1	—
+ Proceeds from Exercise of Stock Options	2.4	7.8	4.2	6.6	—
+ Payment of Lease Liabilities	4.1	2.3	1.2	5.2	—
+ Payment of Finance Lease Liabilities	0.0	1.7	—	—	—
+ Interest Paid	0.0	0.0	2.1	2.5	—
+ Dividends Paid	59.8	66.9	54.9	58.4	—
+ Other Inflows / (Outflows) — Financing	-1.9	0.1	0.0	0.0	—
Cash from Financing Activities	-63.3	-63.0	-54.0	-59.3	—
Net Changes in Cash (pre-FX)	31.8	-11.1	10.5	-6.2	—
Net Changes in Cash	31.8	-11.1	10.5	-6.2	—
Closing Cash	49.4	38.3	—	—	—
Reference Items
EBITDA	99.3	112.1	155.3	197.4	220.3
EBITDA Margin %	35.61	33.81	38.61	41.73	42.49
Free Cash Flow (CFO − Capex)	70.7	81.7	108.2	139.4	139.4
Free Cash Flow to Equity	—	—	86.6	136.9	—
Free Cash Flow per Basic Share	23.54	27.19	36.02	46.39	46.39
Price to Free Cash Flow	—	—	—	—	34.93
Cash Flow to Net Income	0.96	0.89	0.88	0.85	—
Cash Paid for Taxes	31.7	42.3	50.6	64.5	—
Cash Paid for Interest	—	—	2.1	2.5	—

As filed, sign as filed: a payment tagged as a positive magnitude in the filing stays positive here, so read the label, not the sign. A line appears only when the company tagged that concept in at least one period shown — depth follows the filer, so a thin statement means a thin filing. Total Adjustments is the filer's own grand total of the reconciliation and spans BOTH the non-cash items and the working-capital block; Profit Before Tax plus it equals Cash from Operations (pre-tax). It can be reported when its components are not, so it is never a sum of the rows above it. No consensus estimates → no Est columns. Click any row to chart it.

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Data & compliance. Descriptive financial information from official NSE/BSE filings — for information and education only, not investment advice, a recommendation, or a valuation. Standalone = parent entity; consolidated includes subsidiaries. Historical multiples pair each fiscal year's filed figures with that FY-end market close; the Current column uses the last close with the latest filed annuals. Figures are cross-verified via accounting identities and NSE×BSE agreement — XBRL cross-verified ✓ 95%.