PSP Projects cash flow

Latest FY26

Cash from operations: ₹323cr+512.4% on FY25
Capital spending: ₹193cr+183.9% on FY25
Free cash flow: ₹130cr−₹15.3 cr in FY25
Cash from financing: ₹9.7cr−50.6% on 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.
	—	86.6	72.7	64.9	40.0
	—	34.2	33.5	31.9	15.8
	—	−17.2	−16.9	0.0	0.0
	—	−0.0	−0.0	0.0	0.0
	—	46.7	0.0	0.0	0.0
	—	0.0	16.9	7.5	1.7
	—	−23.7	−6.1	−165	−71.3
	—	−413	−201	83.8	−125
	—	63.8	−60.6	−212	−161
	—	−35.8	−27.4	−7.6	−21.2
	—	−22.4	−5.1	−17.6	−10.5
	—	1.8	−0.2	0.0	0.0
	—	0.0	0.1	−0.0	−0.0
	—	10.3	10.6	85.8	67.1
	—	13.7	10.6	−25.6	8.0
	—	546	200	−171	200
	—	7.3	1.1	1.9	1.1
	—	−0.5	−0.1	0.4	0.7
Cash from operating activities
	102	74.5	79.9	169	183
	—	298	25.9	−323	−57.1
	—	372	106	−154	126
	—	0.0	0.0	−23.4	−23.9
	—	0.0	0.0	−0.0	−0.0
	—	49.5	53.1	46.9	56.8
	—	323	52.7	−224	45.3
Cash from investing activities
	—	193	68.0	142	79.7
	—	0.2	0.7	0.8	0.9
	—	23.2	0.0	0.0	0.0
	—	0.0	56.5	0.0	0.0
	—	0.0	0.0	91.5	4.1
	—	0.0	1.1	0.0	0.0
	—	0.0	0.0	0.0	0.0
	—	17.2	16.9	23.4	23.9
	—	0.3	0.0	0.0	0.0
	—	−152	−106	−26.2	−50.7
Cash from financing activities
	—	0.0	238	0.0	0.0
	—	79.6	11.1	310	45.3
	—	33.9	195	0.0	0.0
	—	3.3	0.0	0.0	0.0
	—	32.7	34.7	31.9	15.8
	—	0.0	0.0	9.0	18.0
	—	9.7	19.6	269	11.5
	—	180	−33.4	19.0	6.1
	—	180	−33.4	19.0	6.1
	—	—	—	113	94.1
Reference items
	219	189	179	261	230
	6.3%	6.0%	7.1%	10.4%	11.9%
	130	130	−15.3	−366	−34.5
	—	143	−234	−87.7	—
	₹32.76	₹32.76	−₹3.85	−₹92.31	−₹8.70
	22.51×	—	—	—	—
	—	5.81×	0.93×	−1.82×	0.34×
	—	49.5	53.1	46.9	56.8
	—	32.7	34.7	31.9	15.8

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

alphave

PSPPROJECT₹737.25

PSP Projects Limited

· Infrastructure

₹ CrorePeersJKIL VINDHYATEL INTERARCH PATELENG GKENERGY RAMKY SIMPLEXINF ISGECMcap ₹2,923 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	40.0	64.9	72.7	86.6	—
+ Finance Costs	15.8	31.9	33.5	34.2	—
+ Interest Income	0.0	0.0	-16.9	-17.2	—
+ Dividend Income	0.0	0.0	-0.0	-0.0	—
+ Other Non-cash Items	0.0	0.0	0.0	46.7	—
+ Other Reconciling Items	1.7	7.5	16.9	0.0	—
Changes in Working Capital
+ Inventories	-71.3	-164.7	-6.1	-23.7	—
+ Trade Receivables — Current	-125.4	83.8	-201.2	-413.2	—
+ Other Financial Assets — Current	-160.6	-211.9	-60.6	63.8	—
+ Other Financial Assets — Non-current	-21.2	-7.6	-27.4	-35.8	—
+ Other Current Assets	-10.5	-17.6	-5.1	-22.4	—
+ Other Non-current Assets	0.0	0.0	-0.2	1.8	—
+ Other Bank Balances	-0.0	-0.0	0.1	0.0	—
+ Trade Payables — Current	67.1	85.8	10.6	10.3	—
+ Other Financial Liabilities — Current	8.0	-25.6	10.6	13.7	—
+ Other Current Liabilities	200.2	-171.4	199.6	546.2	—
+ Provisions — Current	1.1	1.9	1.1	7.3	—
+ Provisions — Non-current	0.7	0.4	-0.1	-0.5	—
Cash from Operating Activities
Profit Before Tax (per I/S)	183.1	169.5	79.9	74.5	102.0
+ Total Adjustments (incl. Working Capital)	-57.1	-323.1	25.9	297.8	—
Cash from Operations (pre-tax)	126.0	-153.7	105.8	372.3	—
+ Interest Received — Operating	-23.9	-23.4	0.0	0.0	—
+ Dividends Received — Operating	-0.0	-0.0	0.0	0.0	—
+ Income Taxes Paid	56.8	46.9	53.1	49.5	—
Cash from Operating Activities	45.3	-224.0	52.7	322.8	—
Cash from Investing Activities
+ Acq of Fixed Assets (Capex)	79.7	141.9	68.0	193.0	—
+ Disp of Fixed Assets	0.9	0.8	0.7	0.2	—
+ Disp of Investment Property	0.0	0.0	0.0	23.2	—
+ Acq of Other Long-term Assets	0.0	0.0	56.5	0.0	—
+ Disp of Other Long-term Assets	4.1	91.5	0.0	0.0	—
+ Loans & Advances Repaid	0.0	0.0	1.1	0.0	—
+ Dividends Received — Investing	0.0	0.0	0.0	0.0	—
+ Interest Received — Investing	23.9	23.4	16.9	17.2	—
+ Other Inflows / (Outflows) — Investing	0.0	0.0	0.0	0.3	—
Cash from Investing Activities	-50.7	-26.2	-105.7	-152.0	—
Cash from Financing Activities
+ Proceeds from Issue of Shares	0.0	0.0	237.9	0.0	—
+ Proceeds from Borrowings	45.3	310.1	11.1	79.6	—
+ Repayment of Borrowings	0.0	0.0	194.7	33.9	—
+ Payment of Lease Liabilities	0.0	0.0	0.0	3.3	—
+ Interest Paid	15.8	31.9	34.7	32.7	—
+ Dividends Paid	18.0	9.0	0.0	0.0	—
Cash from Financing Activities	11.5	269.2	19.6	9.7	—
Net Changes in Cash (pre-FX)	6.1	19.0	-33.4	180.4	—
Net Changes in Cash	6.1	19.0	-33.4	180.4	—
Closing Cash	94.1	113.1	—	—	—
Reference Items
EBITDA	230.1	260.9	179.4	189.1	219.1
EBITDA Margin %	11.87	10.41	7.14	6.00	6.29
Free Cash Flow (CFO − Capex)	-34.5	-365.9	-15.3	129.9	129.9
Free Cash Flow to Equity	—	-87.7	-233.5	142.8	—
Free Cash Flow per Basic Share	-8.70	-92.31	-3.85	32.76	32.76
Price to Free Cash Flow	—	—	—	—	22.51
Cash Flow to Net Income	0.34	-1.82	0.93	5.81	—
Cash Paid for Taxes	56.8	46.9	53.1	49.5	—
Cash Paid for Interest	15.8	31.9	34.7	32.7	—

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%.