| INR billions | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Net income | 20.5 | 29.1 | 36.1 | 34.2 | 42.6 | 52.3 | +22.8% | |
| Depreciation & amortization | 1.0 | 1.0 | 1.2 | 2.0 | 2.4 | 2.8 | +16.0% | |
| Stock-based compensation | 0.1 | 0.2 | 0.3 | 0.6 | 0.7 | 0.0 | −100.0% | |
| Change in working capital | (116.5) | (88.1) | (312.0) | (408.6) | (395.5) | 64.5 | +116.3% | |
| Operating cash flow | (88.4) | (55.7) | (271.1) | (356.8) | (324.1) | 151.0 | +146.6% | |
| Capital expenditure | (0.3) | (1.0) | (1.8) | (10.8) | (2.0) | (2.7) | −32.9% | |
| Acquisitions | 0.0 | (4.6) | (0.1) | 0.0 | 0.0 | 0.2 | — | |
| Investing cash flow | (17.5) | 16.4 | (21.5) | (28.5) | (29.5) | (476.7) | −1517.1% | |
| Dividends paid | (1.1) | (1.6) | (1.6) | (1.7) | (1.7) | 0.0 | +100.0% | |
| Share buybacks | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Debt issued / repaid | 88.5 | 53.5 | 276.6 | 367.2 | 400.5 | 344.6 | −13.9% | |
| Financing cash flow | 87.1 | 51.5 | 274.7 | 384.7 | 398.0 | 356.1 | −10.5% | |
| Free cash flow | (88.7) | (56.7) | (272.8) | (367.6) | (326.1) | 148.3 | +145.5% | |
| Net change in cash | (18.9) | 12.2 | (17.9) | (0.7) | 44.3 | 63.7 | +43.7% |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
