SML Mahindra cash flow

Latest FY26

Cash from operations: ₹156cr−12.0% on FY25
Capital spending: ₹70.3cr+13.5% on FY25
Free cash flow: ₹85.9cr−25.7% on FY25
Cash from financing: −₹89.0cr₹148 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.
	—	52.0	48.4	47.5	42.4
	—	20.7	29.9	30.3	25.0
	—	−3.6	−4.1	−2.1	−1.6
	—	−89.7	0.7	−161	−125
	—	−5.1	−96.2	−93.4	4.3
	—	35.4	38.3	40.6	47.0
Cash from operating activities
	197	214	162	106	17.3
	—	209	—	—	—
	—	156	177	−49.7	90.1
Cash from investing activities
	—	70.3	62.0	42.4	41.3
	—	0.2	0.3	5.2	0.0
	—	3.8	4.0	1.9	0.6
	—	−65.8	−60.9	−45.8	−42.1
Cash from financing activities
	—	1.7	2.0	1.8	2.6
	—	—	—	0.0	0.0
	—	−89.0	148	127	−55.2
	—	1.4	—	31.3	−7.2
	—	4.5	3.1	34.8	3.5
Reference items
	260	278	235	179	81.6
	8.5%	9.8%	9.8%	8.2%	4.5%
	85.9	85.9	115	−92.1	48.8
	₹59.33	₹59.33	₹79.81	−₹63.65	₹33.69
	81.32×	—	—	—	—
	—	0.98×	1.46×	−0.46×	4.54×

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

alphave

SMLMAH₹4,825.00

SML Mahindra Ltd.

· Capital Goods & Defence

₹ CrorePeersASHOKLEY EICHERMOT SKIPPER SKFINDUS SUBROS SHAKTIPUMP SURYAROSNI TDPOWERSYSMcap ₹6,982 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	42.4	47.5	48.4	52.0	—
+ Finance Costs	25.0	30.3	29.9	20.7	—
+ Interest Income	-1.6	-2.1	-4.1	-3.6	—
Changes in Working Capital
+ Inventories	-125.0	-160.5	0.7	-89.7	—
+ Trade Receivables — Current	4.3	-93.4	-96.2	-5.1	—
+ Trade Payables — Current	47.0	40.6	38.3	35.4	—
Cash from Operating Activities
Profit Before Tax (per I/S)	17.3	106.5	162.4	214.0	197.3
Cash from Operations (pre-tax)	—	—	—	209.3	—
Cash from Operating Activities	90.1	-49.7	177.5	156.2	—
Cash from Investing Activities
+ Acq of Fixed Assets (Capex)	41.3	42.4	62.0	70.3	—
+ Disp of Fixed Assets	0.0	5.2	0.3	0.2	—
+ Interest Received — Investing	0.6	1.9	4.0	3.8	—
Cash from Investing Activities	-42.1	-45.8	-60.9	-65.8	—
Cash from Financing Activities
+ Payment of Lease Liabilities	2.6	1.8	2.0	1.7	—
+ Dividends Paid	0.0	0.0	—	—	—
Cash from Financing Activities	-55.2	126.8	148.3	-89.0	—
Net Changes in Cash	-7.2	31.3	—	1.4	—
Closing Cash	3.5	34.8	3.1	4.5	—
Reference Items
EBITDA	81.6	178.9	234.6	278.4	260.1
EBITDA Margin %	4.48	8.15	9.78	9.81	8.49
Free Cash Flow (CFO − Capex)	48.8	-92.1	115.5	85.9	85.9
Free Cash Flow per Basic Share	33.69	-63.65	79.81	59.33	59.33
Price to Free Cash Flow	—	—	—	—	81.32
Cash Flow to Net Income	4.54	-0.46	1.46	0.98	—

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.

« ‹ › »Latest: FY26 · ConsolidatedFA Financial Analysis · alphave

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 ✓ 85%.