NATCO Pharma cash flow

Latest FY26

Cash from operations: ₹1,768cr+4.2% on FY25
Capital spending: ₹391cr−23.6% on FY25
Free cash flow: ₹1,377cr+16.2% on FY25
Cash from financing: ₹298cr−₹211 cr in FY25

₹ crore except per share

Tap a line for its trend	Last 12Mto Jun 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.
	—	207	235	187	164
	—	0.0	3.0	0.0	2.3
	—	36.7	23.9	19.2	14.5
	—	−232	−187	−101	−51.2
	—	−0.4	−3.3	−0.3	−0.1
	—	0.0	0.0	−0.2	5.2
	—	−13.3	−0.8	−0.8	0.0
	—	8.9	−1.1	27.8	−13.1
	—	0.0	−0.5	0.6	−1.6
	—	22.7	−91.5	1.7	−17.8
	—	−143	−65.3	42.4	19.1
	—	386	−59.3	−341	−222
	—	−3.7	−2.0	2.8	4.0
	—	0.0	0.0	0.0	0.2
	—	−58.8	−52.6	−66.4	64.9
	—	133	40.3	−28.1	102
	—	10.2	−10.9	18.3	0.6
	—	50.8	−11.8	−6.7	102
	—	270	−38.1	69.6	−7.9
Cash from operating activities
	1,105	1,491	2,291	1,674	862
	—	675	−222	−176	165
	—	2,166	2,069	1,498	1,027
	—	398	373	286	178
	—	1,768	1,697	1,212	849
Cash from investing activities
	—	388	401	339	146
	—	2.8	111	19.3	59.3
	—	1.4	95.0	2.0	30.5
	—	0.0	20.1	0.0	0.0
	—	771	340	263	126
	—	406	410	129	15.1
	—	2,140	0.0	0.0	0.0
	—	0.4	0.0	0.0	0.0
	—	−7.7	−0.4	1.2	0.0
	—	37.3	3.3	0.3	0.1
	—	248	147	58.5	48.8
	—	475	−1,238	−601	−240
	—	−2,143	−1,415	−1,033	−477
Cash from financing activities
	—	0.0	0.0	0.0	−7.4
	—	0.0	0.0	254	0.0
	—	0.0	7.3	0.0	0.0
	—	426	−89.2	198	0.0
	—	0.0	0.0	0.0	239
	—	2.4	3.4	2.1	2.0
	—	35.9	17.6	18.1	14.2
	—	90.2	108	171	100
	—	298	−211	−247	−363
	—	−77.1	71.6	−68.0	9.0
	—	156	−22.0	6.5	11.8
	—	78.9	49.6	−61.5	20.8
	—	—	—	70.4	132
Reference items
	1,052	1,437	2,196	1,751	936
	30.2%	35.2%	49.6%	43.8%	34.6%
	1,377	1,377	1,185	853	644
	—	1,775	1,078	1,033	—
	₹76.94	₹76.94	₹66.21	₹47.65	₹35.95
	10.31×	—	—	—	—
	—	1.25×	0.90×	0.87×	1.19×
	—	398	373	286	178
	—	35.9	17.6	18.1	14.2

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

alphave

NATCOPHARM₹793.00

NATCO Pharma Ltd.

· Pharma & Health

₹ CrorePeersDRREDDY ZYDUSLIFE SUNPHARMA LALPATHLAB NEULANDLAB NH SAILIFE COHANCEMcap ₹14,195 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 30/06/2026
Adjustments to Reconcile Profit — Non-cash Items
+ Depreciation & Amortisation	163.8	186.8	235.2	206.6	—
+ Impairment Loss / (Reversal)	2.3	0.0	3.0	0.0	—
+ Finance Costs	14.5	19.2	23.9	36.7	—
+ Interest Income	-51.2	-101.0	-187.2	-231.5	—
+ Dividend Income	-0.1	-0.3	-3.3	-0.4	—
+ Fair Value (Gains) / Losses	5.2	-0.2	0.0	0.0	—
+ Unrealised FX (Gain) / Loss	0.0	-0.8	-0.8	-13.3	—
+ Other Non-cash Items	-13.1	27.8	-1.1	8.9	—
+ Other — Cash Effects are Investing / Financing	-1.6	0.6	-0.5	0.0	—
+ Other Reconciling Items	-17.8	1.7	-91.5	22.7	—
Changes in Working Capital
+ Inventories	19.1	42.4	-65.3	-142.7	—
+ Trade Receivables — Current	-222.3	-341.3	-59.3	386.0	—
+ Other Financial Assets — Current	4.0	2.8	-2.0	-3.7	—
+ Other Current Assets	0.2	0.0	0.0	0.0	—
+ Other Non-current Assets	64.9	-66.4	-52.6	-58.8	—
+ Trade Payables — Current	102.0	-28.1	40.3	133.3	—
+ Other Financial Liabilities — Current	0.6	18.3	-10.9	10.2	—
+ Other Financial Liabilities — Non-current	102.1	-6.7	-11.8	50.8	—
+ Provisions — Current	-7.9	69.6	-38.1	270.4	—
Cash from Operating Activities
Profit Before Tax (per I/S)	861.9	1,673.5	2,291.4	1,490.8	1,104.5
+ Total Adjustments (incl. Working Capital)	164.7	-175.6	-222.0	675.2	—
Cash from Operations (pre-tax)	1,026.6	1,497.9	2,069.4	2,166.0	—
+ Income Taxes Paid	177.5	286.3	372.6	397.7	—
Cash from Operating Activities	849.1	1,211.6	1,696.8	1,768.3	—
Cash from Investing Activities
+ Acq of Fixed Assets (Capex)	146.3	339.4	401.1	388.3	—
+ Acq of Intangible Assets	59.3	19.3	110.5	2.8	—
+ Disp of Fixed Assets	30.5	2.0	95.0	1.4	—
+ Disp of Intangible Assets	0.0	0.0	20.1	0.0	—
+ Acq of Investment Property	125.6	263.4	339.7	770.5	—
+ Disp of Investment Property	15.1	128.6	410.2	406.2	—
+ Acq of Interests in Joint Ventures	0.0	0.0	0.0	2,140.3	—
+ Loans & Advances Made	0.0	0.0	0.0	0.4	—
+ Loans & Advances Repaid	0.0	1.2	-0.4	-7.7	—
+ Dividends Received — Investing	0.1	0.3	3.3	37.3	—
+ Interest Received — Investing	48.8	58.5	146.6	247.5	—
+ Other Inflows / (Outflows) — Investing	-240.4	-601.2	-1,238.0	474.7	—
Cash from Investing Activities	-477.1	-1,032.7	-1,414.5	-2,142.9	—
Cash from Financing Activities
+ Proceeds from Other Equity Instruments	-7.4	0.0	0.0	0.0	—
+ Payments for Other Equity Instruments	0.0	253.7	0.0	0.0	—
+ Proceeds — Change in Ownership of Subsidiaries	0.0	0.0	7.3	0.0	—
+ Proceeds from Borrowings	0.0	197.8	-89.2	426.0	—
+ Repayment of Borrowings	239.0	0.0	0.0	0.0	—
+ Payment of Lease Liabilities	2.0	2.1	3.4	2.4	—
+ Interest Paid	14.2	18.1	17.6	35.9	—
+ Dividends Paid	100.4	170.8	107.8	90.2	—
Cash from Financing Activities	-363.0	-246.9	-210.7	297.5	—
Net Changes in Cash (pre-FX)	9.0	-68.0	71.6	-77.1	—
+ Effect of FX Rate Changes on Cash	11.8	6.5	-22.0	156.0	—
Net Changes in Cash	20.8	-61.5	49.6	78.9	—
Closing Cash	131.9	70.4	—	—	—
Reference Items
EBITDA	935.6	1,751.4	2,196.0	1,436.5	1,052.0
EBITDA Margin %	34.56	43.80	49.58	35.22	30.19
Free Cash Flow (CFO − Capex)	643.5	852.9	1,185.2	1,377.2	1,377.2
Free Cash Flow to Equity	—	1,033.0	1,077.5	1,774.6	—
Free Cash Flow per Basic Share	35.95	47.65	66.21	76.94	76.94
Price to Free Cash Flow	—	—	—	—	10.31
Cash Flow to Net Income	1.19	0.87	0.90	1.25	—
Cash Paid for Taxes	177.5	286.3	372.6	397.7	—
Cash Paid for Interest	14.2	18.1	17.6	35.9	—

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%.