Merind Annual Reports, Balance Sheet and Financials

Merind Limited Standalone Balance Sheet (Rs in Thousands)

Merind Limited Standalone Profit & Loss Statement (Rs in Thousands)

Merind Limited Standalone Cash Flow Statement (Rs in Thousands)

Summary of the Cash Flow Statement for the years 2025 and 2024:

Cash Flow from Operating Activities (CFO)

Merind Limited reported a net cash outflow of ₹487.5 million in FY 2025 compared to ₹49.4 million in FY 2024, showing a sharp deterioration in operating cash performance. While the operating loss before working capital changes was broadly similar across both years, the major drag came from heavily increased tax payments (₹461.5 million vs ₹15.6 million last year). This single factor significantly outweighed marginal improvements in working capital, leading to negative cash from operations. The numbers suggest that despite the accounting profitability shown earlier, the company struggled to translate it into real cash earnings due to large outflows on account of taxes and ongoing financing-related adjustments.

Cash Flow from Investing Activities (CFI)

In FY 2025, the company reported a positive cash inflow of ₹35 million, a marked turnaround from the huge cash outflow of ₹376 million in FY 2024. The improvement was driven by repayments from related parties (₹25.6 million inflow) and higher interest income (₹10.3 million vs ₹6.1 million). Additionally, there was limited deployment towards deposits this year compared to the past. Overall, this indicates that in FY 2025, Merind Limited was able to recover funds previously lent out and rely less on heavy investing outflows, thereby strengthening its cash position compared to the previous year.

Cash Flow from Financing Activities (CFF)

The financing side saw a robust inflow of ₹456 million in FY 2025, similar in magnitude to the prior year’s inflow of ₹426 million. The improvement was largely because of net loans taken from related parties (₹31.2 million) and, notably, a very large positive adjustment in interest paid (₹424.8 million shown as inflow), which appears unusual and likely linked to internal adjustments or accounting treatments. In FY 2024, financing inflows were primarily from significant borrowings (₹433.8 million) offset by normal interest payments. The financing section shows that the company continues to rely heavily on external support (mainly related parties) to bridge the gap created by weak operating cash flow.

Net Change in Cash Position

After combining all three sections, the company’s cash position improved by ₹3.5 million in FY 2025, slightly higher than the ₹0.9 million increase in FY 2024. Cash balances grew from ₹4.7 million at the beginning of FY 2025 to ₹8.2 million by year-end, showing stability. However, this increase is not backed by core operations but rather by financing support and recovery of investments.