Berger Paints Pakistan Limited (BERG) cash flow statement

Operating activities generated Rs 4.5 mn of cash in FY2026 (Jul 2025 – Jun 2026), down 95.6% on FY2025, 1% of the starting profit. Capital expenditure was Rs 264.4 mn, leaving free cash flow of -Rs 259.9 mn. Dividends paid to shareholders came to Rs 128.6 mn. Overall, cash increased by Rs 119.6 mn.

BERG cash flow statement (annual) (Rs mn)
Rs mn	FY2026 Jul 2025 – Jun 2026	FY2025 Jul 2024 – Jun 2025	FY2024 Jul 2023 – Jun 2024	FY2023 Jul 2022 – Jun 2023	FY2022 Jul 2021 – Jun 2022	FY2021 Jul 2020 – Jun 2021	FY2020 Jul 2019 – Jun 2020	FY2019 Jul 2018 – Jun 2019	FY2018 Jul 2017 – Jun 2018	FY2017 Jul 2016 – Jun 2017	FY2016 Jul 2015 – Jun 2016	FY2015 Jul 2014 – Jun 2015	FY2014 * Jul 2013 – Jun 2014	FY2013 Jul 2012 – Jun 2013	FY2012 Jul 2011 – Jun 2012	FY2011 * Jul 2010 – Jun 2011	FY2010 Jul 2009 – Jun 2010	FY2009 * Jul 2008 – Jun 2009	FY2008 Jul 2007 – Jun 2008	FY2007 * Jul 2006 – Jun 2007
Operating activities
Profit (cash-flow starting line, as reported)	506.2	461.5	419.1	335.7	251.6	—	111.6	113.0	156.0	267.0	327.6	169.8	145.7	107.8	(2.6)	(74.4)	(122.4)	38.0	(421.8)	120.5
Depreciation & amortisation	235.2	204.5	210.1	139.7	133.1	—	81.5	83.1	86.8	82.5	109.1	69.3	66.9	67.7	69.0	67.2	64.0	50.2	39.9	30.7
Net cash from operating activities	4.5	101.7	(34.0)	504.8	(41.6)	—	19.0	(29.3)	27.1	10.1	410.7	326.5	(46.8)	(17.5)	(10.2)	31.1	49.6	(18.2)	(411.4)	(50.9)
Investing activities
Capital expenditure	(264.4)	(252.3)	(174.8)	(25.7)	(128.2)	—	(93.5)	(92.9)	(166.8)	(169.8)	(132.7)	(97.2)	(56.5)	(26.7)	(15.8)	(53.6)	(56.8)	(150.6)	(230.9)	(99.6)
Net cash from investing activities	(268.8)	(191.8)	(165.5)	(32.8)	(117.6)	—	(62.2)	7.5	(145.3)	(165.9)	(174.6)	(100.5)	(34.1)	(15.9)	(19.4)	(46.8)	222.8	(143.4)	(228.7)	(92.0)
Financing activities
Dividends paid	(128.6)	(97.1)	(0.6)	(75.6)	(82.6)	—	(19.8)	(21.5)	(24.0)	(137.8)	(29.4)	(35.3)	—	—	—	—	—	(0.0)	(12.7)	(41.5)
Borrowings raised / (repaid)	512.5	(114.8)	(135.0)	120.1	182.4	—	220.4	(268.3)	(70.3)	162.2	241.0	(212.2)	153.0	(22.9)	(131.2)	18.2	(106.4)	101.7	33.3	168.0
Net cash from financing activities	383.9	(212.0)	(135.7)	44.6	115.8	—	200.6	(289.8)	(94.3)	24.4	211.6	(247.5)	153.0	(22.9)	(131.2)	18.2	(6.4)	101.7	90.0	126.5
Net change in cash	119.6	(302.1)	(335.2)	516.6	(43.4)	—	157.5	(311.6)	(212.4)	(131.4)	447.7	(21.5)	72.2	(56.3)	(160.8)	2.5	266.0	(60.0)	(550.1)	(16.4)
Key figures
Free cash flow (operating cash flow − capex)	(259.9)	(150.6)	(208.9)	479.1	(169.9)	—	(74.5)	(122.2)	(139.7)	(159.8)	278.0	229.4	(103.3)	(44.2)	(26.0)	(22.5)	(7.2)	(168.9)	(642.3)	(150.5)

BERG cash flow statement — year-on-year change (Rs mn)
Rs mn	FY2026 Jul 2025 – Jun 2026	FY2025 Jul 2024 – Jun 2025	FY2024 Jul 2023 – Jun 2024	FY2023 Jul 2022 – Jun 2023	FY2022 Jul 2021 – Jun 2022	FY2021 Jul 2020 – Jun 2021	FY2020 Jul 2019 – Jun 2020	FY2019 Jul 2018 – Jun 2019	FY2018 Jul 2017 – Jun 2018	FY2017 Jul 2016 – Jun 2017	FY2016 Jul 2015 – Jun 2016	FY2015 Jul 2014 – Jun 2015	FY2014 * Jul 2013 – Jun 2014	FY2013 Jul 2012 – Jun 2013	FY2012 Jul 2011 – Jun 2012	FY2011 * Jul 2010 – Jun 2011	FY2010 Jul 2009 – Jun 2010	FY2009 * Jul 2008 – Jun 2009	FY2008 Jul 2007 – Jun 2008	FY2007 * Jul 2006 – Jun 2007
Operating activities
Profit (cash-flow starting line, as reported)	+9.7%	+10.1%	+24.8%	+33.5%	—	—	-1.2%	-27.6%	-41.6%	-18.5%	+92.9%	+16.5%	+35.2%	—	—	—	-421.7%	—	-450.2%	—
Depreciation & amortisation	+15.0%	-2.7%	+50.5%	+4.9%	—	—	-2.0%	-4.2%	+5.2%	-24.4%	+57.4%	+3.6%	-1.2%	-1.8%	+2.6%	+5.1%	+27.4%	+25.8%	+29.9%	—
Net cash from operating activities	-95.6%	—	-106.7%	—	—	—	—	-208.1%	+169.2%	-97.6%	+25.8%	—	—	—	-132.8%	-37.3%	—	—	—	—
Investing activities
Capital expenditure	+4.8%	+44.3%	+581.2%	-80.0%	—	—	+0.6%	-44.3%	-1.8%	+28.0%	+36.5%	+72.0%	+111.4%	+68.6%	-70.4%	-5.7%	-62.3%	-34.8%	+131.8%	—
Net cash from investing activities	—	—	—	—	—	—	-929.8%	—	—	—	—	—	—	—	—	-121.0%	—	—	—	—
Financing activities
Dividends paid	+32.4%	+15,368.9%	-99.2%	-8.5%	—	—	-8.2%	-10.2%	-82.6%	+368.2%	-16.7%	—	—	—	—	—	—	-100.0%	-69.4%	—
Borrowings raised / (repaid)	—	—	-212.4%	-34.1%	—	—	—	—	-143.3%	-32.7%	—	-238.6%	—	—	-820.7%	—	-204.6%	+205.0%	-80.2%	—
Net cash from financing activities	—	—	-404.5%	-61.5%	—	—	—	—	-485.5%	-88.4%	—	-261.7%	—	—	-820.7%	—	-106.3%	+13.0%	-28.9%	—
Net change in cash	—	—	-164.9%	—	—	—	—	—	—	-129.4%	—	-129.8%	—	—	-6,525.3%	-99.1%	—	—	—	—
Key figures
Free cash flow (operating cash flow − capex)	—	—	-143.6%	—	—	—	—	—	—	-157.5%	+21.2%	—	—	—	—	—	—	—	—	—

Change against the previous fiscal year; shown when the earlier figure is positive.

Figures in Pakistani rupees as reported by the company; costs and cash outflows in brackets; "—" = not reported. * Figures in this period do not fully reconcile in the source data (hover the * for details). Updated 16 Oct 2026.

All reported line items 64

BERG cash flow statement — all reported line items (Rs mn)
Rs mn	FY2026 Jul 2025 – Jun 2026	FY2025 Jul 2024 – Jun 2025	FY2024 Jul 2023 – Jun 2024	FY2023 Jul 2022 – Jun 2023	FY2022 Jul 2021 – Jun 2022	FY2021 Jul 2020 – Jun 2021	FY2020 Jul 2019 – Jun 2020	FY2019 Jul 2018 – Jun 2019	FY2018 Jul 2017 – Jun 2018	FY2017 Jul 2016 – Jun 2017	FY2016 Jul 2015 – Jun 2016	FY2015 Jul 2014 – Jun 2015	FY2014 Jul 2013 – Jun 2014	FY2013 Jul 2012 – Jun 2013	FY2012 Jul 2011 – Jun 2012	FY2011 Jul 2010 – Jun 2011	FY2010 Jul 2009 – Jun 2010	FY2009 Jul 2008 – Jun 2009	FY2008 Jul 2007 – Jun 2008	FY2007 Jul 2006 – Jun 2007
Profit/(Loss) - Starting Line - Cash Flow	506.2	461.5	419.1	335.7	251.6	—	111.6	113.0	156.0	267.0	327.6	169.8	145.7	107.8	(2.6)	(74.4)	(122.4)	38.0	(421.8)	120.5
Non-cash Items & Reconciliation Adjustments - Cash Flow	575.1	403.1	603.0	493.8	329.5	—	313.1	288.9	179.0	212.9	151.9	265.1	221.2	361.9	313.3	283.5	370.9	353.9	138.7	112.8
Minority Interest - Cash Flow - to Reconcile	—	—	—	0.0	55.0	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Equity Income/(Loss) in Net Earnings - Cash Flow - to Reconcile	6.2	3.5	6.8	7.9	(0.3)	—	0.0	—	(0.7)	1.0	0.9	0.0	0.0	0.2	(0.3)	1.3	(0.5)	1.3	(1.1)	(1.0)
Other Non-Cash Items & Reconciliation Adjustments - Cash Flow - to Reconcile	155.1	(23.1)	86.3	102.2	(17.3)	—	47.8	49.4	9.3	56.0	(43.8)	48.7	(10.5)	137.6	48.2	3.2	65.1	39.7	(43.3)	(4.6)
Financial Income/(Expense) - Cash Flow - to Reconcile	188.5	225.8	304.6	283.6	163.5	—	190.1	165.1	88.5	75.5	90.2	148.8	166.2	164.1	205.9	214.6	252.9	254.0	138.6	90.2
Depreciation, Depletion & Amortization including Impairment - Cash Flow - to Reconcile	235.2	204.7	210.1	119.6	133.1	—	81.5	91.4	91.3	82.5	109.1	69.3	66.9	67.7	69.0	67.2	64.0	61.8	45.5	30.7
Depreciation & Depletion - Property, Plant & Equipment - Cash Flow - to Reconcile	235.2	204.5	210.1	139.6	132.9	—	79.8	77.8	82.1	75.8	103.5	64.1	64.3	63.7	69.0	67.2	64.0	50.2	39.9	30.7
Amortization - Intangible Assets & Deferred Charges - Cash Flow - to Reconcile	—	—	0.0	0.0	0.2	—	1.7	5.3	4.7	6.8	5.6	5.2	2.6	4.0	0.0	—	—	—	—	—
Impairment - Property, Plant & Equipment including Intangible Assets - Cash Flow - to Reconcile	—	0.2	—	(20.1)	—	—	0.0	8.3	4.5	—	—	—	—	—	—	—	—	11.6	5.7	0.0
Assets Sale - Gain/(Loss) - Cash Flow - to Reconcile	(9.9)	(7.8)	(4.9)	(19.6)	(4.6)	—	(6.3)	(17.0)	(9.4)	(2.1)	(4.4)	(1.6)	(1.5)	(7.8)	(9.4)	(2.7)	(10.6)	(2.8)	(1.0)	(2.6)
Income Taxes - Paid/(Reimbursed) - Cash Flow	305.9	253.7	170.9	88.4	10.8	—	14.6	56.6	26.8	205.8	69.7	101.4	36.0	8.5	61.6	65.0	49.5	47.9	30.3	40.9
Interest Paid - Cash	220.2	257.3	325.5	328.2	146.1	—	194.3	142.1	85.1	73.2	105.3	161.6	163.5	167.7	213.3	212.4	259.3	246.7	20.8	83.3
Interest & Dividends - Received - Total - Cash Flow	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	0.3	1.6	0.0
Cash Flow from Operating Activities before Changes in Working Capital	555.3	353.6	525.8	412.9	424.2	—	215.8	203.2	223.1	200.9	304.4	171.9	167.4	293.5	35.8	(68.3)	(60.3)	97.6	(332.6)	109.1
Working Capital - Increase/(Decrease) - Cash Flow	(550.8)	(251.9)	(559.8)	91.9	(465.8)	—	(196.8)	(232.4)	(196.0)	(190.9)	106.2	154.6	(214.1)	(311.1)	(46.0)	99.4	109.9	(115.9)	(78.8)	(160.0)
Accounts Receivables - Decrease/(Increase) - Cash Flow	(207.1)	(221.0)	(739.0)	(301.9)	(364.0)	—	248.9	(228.5)	(55.4)	(163.4)	(116.1)	(48.4)	(299.7)	(208.4)	(71.5)	(26.2)	(36.3)	27.7	(19.6)	(153.4)
Inventories - Decrease/(Increase) - Cash Flow	(484.2)	(79.9)	58.8	194.5	(377.7)	—	(169.6)	92.5	2.8	(276.1)	(33.1)	82.1	61.9	31.5	108.3	(135.5)	11.8	(146.0)	(298.5)	(116.8)
Prepaid Expenses - Decrease/(Increase) - Cash Flow	4.0	(19.0)	(3.7)	(4.9)	4.7	—	6.7	10.2	(21.4)	(1.2)	(3.3)	(15.0)	2.0	(0.9)	(0.4)	7.1	4.5	(6.4)	(0.4)	(4.0)
Accounts Payable and Accrued Expenses - Increase/(Decrease) - Cash Flow	187.7	165.5	101.0	205.4	171.4	—	(261.8)	(109.4)	(124.2)	139.9	258.8	135.8	29.2	(134.1)	(75.5)	219.1	72.1	(94.3)	298.8	118.7
Other Assets & Liabilities - Increase/(Decrease) - Net - Cash Flow	(51.3)	(97.5)	23.0	(1.1)	99.9	—	(20.9)	2.9	2.1	109.9	—	—	(7.5)	0.9	(6.9)	35.0	57.8	103.2	(59.1)	(4.4)
Net Cash Flow from Operating Activities	4.5	101.7	(34.0)	504.8	(41.6)	—	19.0	(29.3)	27.1	10.1	410.7	326.5	(46.8)	(17.5)	(10.2)	31.1	49.6	(18.2)	(411.4)	(50.9)
Capital Expenditures - Net - Cash Flow	252.9	243.5	162.4	3.0	121.4	—	76.1	14.4	152.0	165.2	125.4	90.5	52.9	17.1	(0.7)	46.8	(222.8)	143.4	228.7	92.0
Property, Plant & Equipment - Purchased/(Sold) - Net - Cash Flow	252.9	243.5	162.4	3.0	121.4	—	76.1	14.4	152.0	165.2	125.4	90.5	52.9	16.1	(1.7)	33.3	(222.8)	143.4	170.7	92.0
Property, Plant & Equipment - Purchased - Cash Flow	264.4	252.3	174.8	25.7	128.2	—	93.5	92.9	166.8	169.8	132.7	97.2	56.5	25.7	14.8	40.1	56.8	150.6	172.9	99.6
Property, Plant & Equipment Sold - Cash Flow	11.5	8.7	12.4	22.7	6.8	—	17.3	78.5	14.7	4.7	7.2	6.7	3.5	9.6	16.5	6.8	279.6	7.2	2.2	7.6
Intangible Assets - Purchased/(Sold) - Net - Total - Cash Flow	—	—	—	—	—	—	—	—	—	—	—	—	0.0	1.0	1.0	13.5	0.0	—	58.0	0.0
Intangible Assets - Purchased/Acquired - Cash Flow	—	—	—	—	—	—	—	—	—	—	—	—	0.0	1.0	1.0	13.5	0.0	—	58.0	0.0
Capital Expenditures - Total	264.4	252.3	174.8	25.7	128.2	—	93.5	92.9	166.8	169.8	132.7	97.2	56.5	26.7	15.8	53.6	56.8	150.6	230.9	99.6
Investments excluding Loans - Decrease/(Increase) - Cash Flow	(16.0)	51.7	(3.1)	(29.7)	3.8	—	13.9	21.9	6.8	(0.7)	(49.2)	(10.0)	18.9	1.2	(20.1)	0.0	—	—	—	—
Investment Securities - Unclassified - Sold/(Purchased) - Net - Total - Cash Flow	(16.0)	51.7	(3.1)	(29.7)	3.8	—	13.9	21.9	6.8	(0.7)	(49.2)	(10.0)	18.9	1.2	(20.1)	0.0	—	—	—	—
Investment Securities - Sold/Matured - Unclassified - Cash Flow	—	—	36.9	51.3	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Investment Securities - Purchased - Unclassified - Cash Flow	—	—	40.0	81.0	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Net Cash Flow from Investing Activities	(268.8)	(191.8)	(165.5)	(32.8)	(117.6)	—	(62.2)	7.5	(145.3)	(165.9)	(174.6)	(100.5)	(34.1)	(15.9)	(19.4)	(46.8)	222.8	(143.4)	(228.7)	(92.0)
Dividends Paid - Cash - Total - Cash Flow	128.6	97.1	0.6	75.6	82.6	—	19.8	21.5	24.0	137.8	29.4	35.3	—	—	—	—	—	0.0	12.7	41.5
Dividends - Common - Cash Paid	128.6	97.1	0.6	75.6	82.6	—	19.8	21.5	24.0	137.8	29.4	35.3	—	—	—	—	—	0.0	12.7	41.5
Stock - Total - Issuance/(Retirement) - Net - Cash Flow	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	100.0	0.0	69.3	0.0
Stock - Issuance/(Retirement) - Net - Excluding Options/Warrants - Cash Flow	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	100.0	0.0	69.3	0.0
Stock - Common - Issuance/(Retirement) - Net - Cash Flow	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	100.0	0.0	69.3	0.0
Stock - Common - Issued/Sold - Cash Flow	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	100.0	0.0	69.3	0.0
Debt - Long-Term & Short-Term - Issuance/(Retirement) - Total - Cash Flow	512.5	(114.8)	(135.0)	120.1	182.4	—	220.4	(268.3)	(70.3)	162.2	241.0	(212.2)	153.0	(22.9)	(131.2)	18.2	(106.4)	101.7	33.3	168.0
Debt - Issued/(Reduced) - Short-Term - Total - Cash Flow	629.1	—	0.0	(255.6)	194.9	—	42.0	(300.0)	—	0.0	350.0	(108.0)	14.0	84.0	(17.5)	(252.5)	(55.0)	185.0	(150.0)	168.0
Debt - Issued/Reduced - Long-Term - Cash Flow	(116.5)	(114.8)	(135.0)	375.7	(12.5)	—	178.4	31.7	(70.3)	162.2	(109.0)	(104.2)	139.0	(106.9)	(113.7)	270.7	(51.4)	(83.3)	183.3	0.0
Lease liabilities - Issued/(Reduced) - Cash Flow	—	—	—	—	—	—	(1.6)	—	(2.2)	(2.2)	(3.4)	1.4	0.9	(1.9)	(8.7)	(4.3)	(1.4)	0.0	—	—
Debt - Issued - Long-Term - Cash Flow	113.6	—	—	—	—	—	—	—	—	—	—	—	204.0	0.0	—	325.0	250.0	0.0	—	—
Lease liabilities - Issued - Cash flow	—	—	—	—	—	—	—	—	—	—	—	—	0.9	—	—	—	—	—	—	—
Debt - Reduced - Long-Term - Cash Flow	230.1	—	—	—	—	—	—	—	—	—	—	—	65.0	106.9	—	54.3	301.4	83.3	—	—
Lease liabilities - Reduced - Cash flow represents cash outflow due to the repayment of lease liability/debt of the company. It includes finance leases, capitalized lease, and hire-purchase agreement. Applicable to all industries. If Lease liability issue	—	—	—	—	—	—	—	—	—	—	—	—	—	1.9	—	4.3	1.4	—	—	—
Other Financing Cash Flow - Increase/(Decrease)	—	—	—	—	16.0	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Net Cash Flow from Financing Activities	383.9	(212.0)	(135.7)	44.6	115.8	—	200.6	(289.8)	(94.3)	24.4	211.6	(247.5)	153.0	(22.9)	(131.2)	18.2	(6.4)	101.7	90.0	126.5
Net Change in Cash - Total	119.6	(302.1)	(335.2)	516.6	(43.4)	—	157.5	(311.6)	(212.4)	(131.4)	447.7	(21.5)	72.2	(56.3)	(160.8)	2.5	266.0	(60.0)	(550.1)	(16.4)
Net Cash from Continuing Operations	119.6	(302.1)	(335.2)	516.6	(43.4)	—	157.5	(311.6)	(212.4)	(131.4)	447.7	(21.5)	72.2	(56.3)	(160.8)	2.5	266.0	(60.0)	(550.1)	(16.4)
Net Cash - Beginning Balance	296.7	(602.7)	(267.5)	(784.1)	(740.6)	—	(1,025.5)	(716.6)	(499.0)	(367.6)	(798.2)	(776.7)	(848.9)	(792.6)	(631.8)	(634.3)	(900.3)	(840.1)	(290.0)	(262.7)
Net Cash - Ending Balance	416.3	(904.8)	(602.7)	(267.5)	(784.1)	—	(868.0)	(1,028.1)	(711.4)	(499.0)	(350.5)	(798.2)	(776.7)	(848.9)	(792.6)	(631.8)	(634.3)	(900.1)	(840.1)	(279.0)
Income Taxes - Paid/(Reimbursed) - Cash Flow - Supplemental	305.9	253.7	170.9	88.4	10.8	—	14.6	56.6	26.8	205.8	69.7	101.4	36.0	8.5	61.6	65.0	49.5	47.9	30.3	40.9
Interest Paid - Cash Flow - Supplemental	220.2	257.3	325.5	328.2	146.1	—	194.3	142.1	85.1	73.2	105.3	161.6	163.5	167.7	213.3	212.4	259.3	246.7	20.8	83.3
Interest & Dividends - Received - Cash Flow - Supplemental	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	0.3	1.6	0.0
CF from Optg Activities before Change in WC & Int Payments	775.5	610.9	851.3	741.2	570.2	—	410.1	345.3	308.2	274.1	409.8	333.5	330.9	461.2	249.1	144.1	199.0	344.3	(311.8)	192.3
Cash Dividends Paid & Common Stock Buyback - Net	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	0.0	(56.6)	41.5
Common Stock Buyback - Net	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	(100.0)	0.0	(69.3)	0.0
Depreciation, Depletion & Amortization - Cash Flow	235.2	204.5	210.1	139.7	133.1	—	81.5	83.1	86.8	82.5	109.1	69.3	66.9	67.7	69.0	67.2	64.0	50.2	39.9	30.7
Free Cash Flow to Equity	264.2	(256.7)	(331.5)	621.9	19.3	—	163.3	(311.9)	(195.3)	7.1	526.3	23.8	53.3	(57.5)	(140.7)	2.5	166.0	(60.0)	(606.7)	25.1
Free Cash Flow Net of Dividends	(388.4)	(247.7)	(209.5)	403.6	(252.5)	—	(94.2)	(143.7)	(163.6)	(297.5)	248.6	194.0	(103.3)	(44.2)	(26.0)	(22.5)	(7.2)	(168.9)	(655.0)	(192.0)
Free Cash Flow	(259.9)	(150.6)	(208.9)	479.1	(169.9)	—	(74.5)	(122.2)	(139.7)	(159.8)	278.0	229.4	(103.3)	(44.2)	(26.0)	(22.5)	(7.2)	(168.9)	(642.3)	(150.5)

Every line the company reported, in the original order and wording, without regrouping or signs changed.