Bhanero Textile Mills Limited (BHAT) cash flow statement

Operating activities generated Rs 5.5 bn of cash in FY2026 (Jul 2025 – Jun 2026), up 1,237.6% on FY2025, 466% of the starting profit. Capital expenditure was Rs 702.6 mn, leaving free cash flow of Rs 4.8 bn. Overall, cash increased by Rs 735.7 mn.

BHAT 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)	1,190.3	523.3	169.7	1,781.5	3,183.2	2,161.0	455.6	956.9	542.2	369.2	321.2	236.8	470.2	628.4	366.1	933.3	419.1	99.6	100.0	185.6
Depreciation & amortisation	885.2	862.2	867.2	464.4	340.1	263.4	284.7	250.2	223.5	185.8	195.4	197.6	145.2	147.8	150.0	151.7	164.2	177.0	187.3	203.2
Net cash from operating activities	5,545.8	414.6	1,066.4	(6,164.7)	434.2	3,274.5	(169.8)	(402.3)	991.8	(441.6)	212.1	1,002.7	283.2	23.0	677.5	413.5	475.7	435.5	76.6	(181.9)
Investing activities
Capital expenditure	(702.6)	(676.8)	(762.6)	(2,782.2)	(4,093.8)	(401.9)	(175.6)	(717.5)	(1,002.4)	(315.3)	(71.5)	(67.4)	(842.7)	(75.9)	(220.3)	(94.0)	(81.5)	(57.0)	(31.4)	(57.1)
Net cash from investing activities	(1,088.4)	(665.5)	(742.5)	(2,760.5)	(3,831.2)	(279.1)	27.6	(397.2)	(857.3)	(310.7)	(69.7)	(23.9)	(838.2)	(69.7)	(218.7)	(88.3)	(75.3)	(55.5)	(30.0)	(55.1)
Financing activities
Dividends paid	—	0.0	(106.3)	(214.3)	(214.3)	(0.1)	(317.1)	(192.6)	(110.3)	(30.0)	(30.0)	(59.9)	(60.0)	(59.9)	(89.9)	(59.9)	(6.0)	(6.0)	(7.5)	(7.5)
Borrowings raised / (repaid)	(3,574.8)	(313.6)	169.8	8,847.6	2,513.0	(1,370.6)	430.0	1,067.5	4.3	756.7	(224.2)	(772.2)	592.2	127.0	(389.4)	(248.2)	(380.8)	(369.8)	(76.2)	276.3
Net cash from financing activities	(3,721.7)	(313.6)	63.5	8,633.4	2,298.7	(1,370.7)	112.9	874.9	(106.0)	726.8	(254.1)	(832.1)	532.2	67.1	(479.3)	(308.2)	(386.8)	(375.8)	(83.7)	268.8
Net change in cash	735.7	(564.5)	387.4	(291.9)	(1,098.3)	1,624.7	(29.3)	75.5	28.5	(25.5)	(111.8)	146.6	(22.7)	20.4	(20.5)	17.0	13.5	4.1	(37.1)	31.8
Key figures
Free cash flow (operating cash flow − capex)	4,843.2	(262.2)	303.9	(8,947.0)	(3,659.6)	2,872.6	(345.3)	(1,119.7)	(10.7)	(756.9)	140.6	935.2	(559.5)	(52.9)	457.3	319.5	394.2	378.4	45.2	(238.9)

BHAT 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)	+127.5%	+208.4%	-90.5%	-44.0%	+47.3%	+374.3%	-52.4%	+76.5%	+46.8%	+15.0%	+35.6%	-49.6%	-25.2%	+71.6%	-60.8%	+122.7%	+320.7%	-0.3%	-46.1%	—
Depreciation & amortisation	+2.7%	-0.6%	+86.7%	+36.5%	+29.2%	-7.5%	+13.8%	+12.0%	+20.3%	-4.9%	-1.1%	+36.1%	-1.8%	-1.5%	-1.1%	-7.6%	-7.2%	-5.5%	-7.8%	—
Net cash from operating activities	+1,237.6%	-61.1%	—	-1,519.8%	-86.7%	—	—	-140.6%	—	-308.2%	-78.8%	+254.0%	+1,131.1%	-96.6%	+63.9%	-13.1%	+9.2%	+468.2%	—	—
Investing activities
Capital expenditure	+3.8%	-11.3%	-72.6%	-32.0%	+918.6%	+128.9%	-75.5%	-28.4%	+217.9%	+340.7%	+6.1%	-92.0%	+1,010.2%	-65.5%	+134.3%	+15.4%	+42.8%	+81.5%	-44.9%	—
Net cash from investing activities	—	—	—	—	—	-1,111.9%	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Financing activities
Dividends paid	—	-100.0%	-50.4%	-0.0%	+396,331.7%	-100.0%	+64.7%	+74.7%	+267.9%	+0.0%	-50.0%	-0.2%	+0.2%	-33.4%	+50.0%	+901.1%	-0.0%	-20.1%	+0.1%	—
Borrowings raised / (repaid)	—	-284.7%	-98.1%	+252.1%	—	-418.8%	-59.7%	+24,873.9%	-99.4%	—	—	-230.4%	+366.2%	—	—	—	—	—	-127.6%	—
Net cash from financing activities	—	-594.0%	-99.3%	+275.6%	—	-1,314.4%	-87.1%	—	-114.6%	—	—	-256.4%	+692.9%	—	—	—	—	—	-131.2%	—
Net change in cash	—	-245.7%	—	—	-167.6%	—	-138.9%	+164.9%	—	—	-176.2%	—	-211.4%	—	-220.3%	+25.7%	+227.5%	—	-216.8%	—
Key figures
Free cash flow (operating cash flow − capex)	—	-186.3%	—	—	-227.4%	—	—	—	—	-638.5%	-85.0%	—	—	-111.6%	+43.1%	-19.0%	+4.2%	+737.1%	—	—

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 47

BHAT 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	1,190.3	523.3	169.7	1,781.5	3,183.2	2,161.0	455.6	956.9	542.2	369.2	321.2	236.8	470.2	628.4	366.1	933.3	419.1	99.6	100.0	185.6
Non-cash Items & Reconciliation Adjustments - Cash Flow	1,897.6	2,075.3	2,754.1	1,402.6	476.2	321.5	360.2	256.1	267.9	305.4	217.1	317.8	283.9	319.6	163.0	131.1	183.2	184.4	174.4	224.2
Other Non-Cash Items & Reconciliation Adjustments - Cash Flow - to Reconcile	55.1	55.1	26.2	195.8	191.8	14.3	39.5	59.6	58.1	34.1	(47.5)	9.7	12.8	48.5	(131.7)	(244.6)	(212.4)	(282.3)	(254.0)	(179.9)
Financial Income/(Expense) - Cash Flow - to Reconcile	980.9	1,160.3	1,866.2	745.3	137.9	94.1	181.4	166.3	94.0	87.1	69.8	115.1	126.8	124.9	144.6	224.1	231.4	289.8	241.2	201.0
Depreciation, Depletion & Amortization including Impairment - Cash Flow - to Reconcile	885.2	862.2	867.2	464.4	340.1	263.4	284.7	250.2	223.5	185.8	195.4	197.6	145.2	147.8	150.0	151.7	164.2	177.0	187.3	203.2
Depreciation & Depletion - Property, Plant & Equipment - Cash Flow - to Reconcile	885.2	862.2	867.2	464.4	340.1	263.4	284.7	250.2	223.5	185.8	195.4	197.6	145.2	147.8	150.0	151.7	164.2	177.0	187.3	203.2
Assets Sale - Gain/(Loss) - Cash Flow - to Reconcile	(23.4)	(2.3)	(5.5)	(2.8)	(193.6)	(50.2)	(145.4)	(220.0)	(107.6)	(1.5)	(0.6)	(4.6)	(0.9)	(1.6)	—	—	—	—	—	—
Financial Assets - Unrealized Gain/(Loss) - Cash Flow - to Reconcile	(0.3)	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Income Taxes - Paid/(Reimbursed) - Cash Flow	777.2	572.1	424.3	475.0	279.4	77.7	103.2	124.6	116.5	83.0	0.0	58.1	96.2	83.8	73.3	88.1	51.8	3.2	22.4	24.5
Interest Paid - Cash	1,261.8	1,409.4	1,821.1	490.4	113.4	119.0	187.3	143.9	93.1	80.2	75.7	123.2	111.4	123.6	—	—	—	—	—	—
Cash Flow from Operating Activities before Changes in Working Capital	1,048.9	617.1	678.5	2,218.7	3,266.7	2,285.8	525.4	944.4	600.5	511.4	462.6	373.3	546.6	740.6	455.8	976.3	550.6	280.8	252.0	385.3
Working Capital - Increase/(Decrease) - Cash Flow	4,496.9	(202.5)	387.9	(8,383.4)	(2,832.5)	988.7	(695.1)	(1,346.7)	391.3	(953.0)	(250.5)	629.3	(263.3)	(717.6)	221.7	(562.8)	(74.9)	154.6	(175.4)	(567.1)
Accounts Receivables - Decrease/(Increase) - Cash Flow	(688.5)	(17.1)	(504.8)	(1,080.1)	(955.8)	(544.0)	(183.9)	(9.8)	(244.6)	(104.1)	16.9	(9.5)	(165.6)	(82.7)	44.0	(67.3)	31.1	(19.9)	(41.8)	(181.9)
Inventories - Decrease/(Increase) - Cash Flow	3,909.9	(245.3)	491.2	(7,280.2)	(2,485.1)	1,311.0	(397.5)	(1,265.5)	368.0	(974.1)	(231.5)	649.2	(45.9)	(757.5)	176.4	(598.8)	(161.6)	172.2	(144.5)	(248.5)
Other Assets - Decrease/(Increase) - Cash Flow	874.0	(595.2)	(16.5)	(43.7)	(109.1)	(8.6)	(19.4)	(25.7)	(16.0)	0.6	(26.6)	(1.0)	(11.5)	(7.1)	(1.1)	12.0	(8.7)	(3.3)	7.5	(8.6)
Accounts Payable and Accrued Expenses - Increase/(Decrease) - Cash Flow	401.5	655.1	418.0	20.6	717.5	230.3	(94.4)	(45.7)	283.9	124.6	(9.2)	(9.4)	(40.3)	129.7	2.4	80.5	64.9	7.2	2.8	(125.1)
Other Assets & Liabilities - Increase/(Decrease) - Net - Cash Flow	—	—	—	—	—	—	—	—	—	—	—	—	—	—	0.0	10.8	(0.6)	(1.6)	0.6	(3.1)
Net Cash Flow from Operating Activities	5,545.8	414.6	1,066.4	(6,164.7)	434.2	3,274.5	(169.8)	(402.3)	991.8	(441.6)	212.1	1,002.7	283.2	23.0	677.5	413.5	475.7	435.5	76.6	(181.9)
Capital Expenditures - Net - Cash Flow	699.1	665.5	742.5	2,760.5	3,831.2	279.1	(27.6)	397.2	857.3	310.7	69.7	23.9	838.9	69.7	218.7	88.3	75.3	55.5	30.0	55.1
Property, Plant & Equipment - Purchased/(Sold) - Net - Cash Flow	699.1	665.5	742.5	2,760.5	3,831.2	279.1	(27.6)	397.2	857.3	310.7	69.7	23.9	838.9	69.7	218.7	88.3	75.3	55.5	30.0	55.1
Property, Plant & Equipment - Purchased - Cash Flow	702.6	676.8	762.6	2,782.2	4,093.8	401.9	175.6	717.5	1,002.4	315.3	71.5	67.4	842.7	75.9	220.3	94.0	81.5	57.0	31.4	57.1
Property, Plant & Equipment Sold - Cash Flow	3.5	11.2	20.1	21.7	262.7	122.8	203.1	320.3	145.1	4.6	1.8	43.6	3.8	6.2	1.5	5.7	6.2	1.5	1.5	1.9
Capital Expenditures - Total	702.6	676.8	762.6	2,782.2	4,093.8	401.9	175.6	717.5	1,002.4	315.3	71.5	67.4	842.7	75.9	220.3	94.0	81.5	57.0	31.4	57.1
Investments excluding Loans - Decrease/(Increase) - Cash Flow	(389.2)	—	—	—	—	—	—	—	—	—	—	0.0	0.7	—	—	—	—	—	—	—
Investment Securities - Unclassified - Sold/(Purchased) - Net - Total - Cash Flow	(389.2)	—	—	—	—	—	—	—	—	—	—	0.0	0.7	—	—	—	—	—	—	—
Investment Securities - Purchased - Unclassified - Cash Flow	389.2	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Net Cash Flow from Investing Activities	(1,088.4)	(665.5)	(742.5)	(2,760.5)	(3,831.2)	(279.1)	27.6	(397.2)	(857.3)	(310.7)	(69.7)	(23.9)	(838.2)	(69.7)	(218.7)	(88.3)	(75.3)	(55.5)	(30.0)	(55.1)
Dividends Paid - Cash - Total - Cash Flow	—	0.0	106.3	214.3	214.3	0.1	317.1	192.6	110.3	30.0	30.0	59.9	60.0	59.9	89.9	59.9	6.0	6.0	7.5	7.5
Dividends - Common - Cash Paid	—	0.0	106.3	214.3	214.3	0.1	317.1	192.6	110.3	30.0	30.0	59.9	60.0	59.9	89.9	59.9	6.0	6.0	7.5	7.5
Debt - Long-Term & Short-Term - Issuance/(Retirement) - Total - Cash Flow	(3,574.8)	(313.6)	169.8	8,847.6	2,513.0	(1,370.6)	430.0	1,067.5	4.3	756.7	(224.2)	(772.2)	592.2	127.0	(389.4)	(248.2)	(380.8)	(369.8)	(76.2)	276.3
Debt - Issued/(Reduced) - Short-Term - Total - Cash Flow	(3,531.0)	137.5	448.7	7,321.9	0.0	(1,570.6)	578.0	772.2	(456.1)	676.6	0.0	(802.2)	(26.3)	132.1	(201.1)	181.3	(174.8)	(156.4)	124.5	406.7
Debt - Issued/Reduced - Long-Term - Cash Flow	(43.8)	(451.1)	(278.9)	1,525.8	2,513.0	200.0	(148.0)	295.3	460.4	80.2	(224.2)	30.0	618.5	(5.0)	(188.3)	(429.5)	(206.0)	(213.4)	(200.8)	(130.4)
Debt - Issued - Long-Term - Cash Flow	675.8	217.1	202.2	1,719.9	2,723.8	301.3	105.2	376.7	537.8	157.6	0.0	30.0	620.2	—	0.0	6.3	8.6	13.9	150.0	100.0
Debt - Reduced - Long-Term - Cash Flow	719.6	668.2	481.1	194.1	210.7	101.3	253.1	81.4	77.5	77.5	224.2	0.0	1.7	5.0	188.3	435.8	214.7	227.3	350.8	230.4
Other Financing Cash Flow - Increase/(Decrease)	(146.9)	—	—	—	—	—	—	—	—	—	—	—	—	—	—	(0.0)	—	—	—	—
Net Cash Flow from Financing Activities	(3,721.7)	(313.6)	63.5	8,633.4	2,298.7	(1,370.7)	112.9	874.9	(106.0)	726.8	(254.1)	(832.1)	532.2	67.1	(479.3)	(308.2)	(386.8)	(375.8)	(83.7)	268.8
Net Change in Cash - Total	735.7	(564.5)	387.4	(291.9)	(1,098.3)	1,624.7	(29.3)	75.5	28.5	(25.5)	(111.8)	146.6	(22.7)	20.4	(20.5)	17.0	13.5	4.1	(37.1)	31.8
Net Cash from Continuing Operations	735.7	(564.5)	387.4	(291.9)	(1,098.3)	1,624.7	(29.3)	75.5	28.5	(25.5)	(111.8)	146.6	(22.7)	20.4	(20.5)	17.0	13.5	4.1	(37.1)	31.8
Net Cash - Beginning Balance	171.8	736.4	348.9	640.8	1,739.1	114.4	143.7	68.3	39.8	65.3	177.1	30.4	53.2	32.8	53.2	36.2	22.7	18.5	55.6	23.9
Net Cash - Ending Balance	907.5	171.8	736.4	348.9	640.8	1,739.1	114.4	143.7	68.3	39.8	65.3	177.1	30.4	53.2	32.8	53.2	36.2	22.7	18.5	55.6
Income Taxes - Paid/(Reimbursed) - Cash Flow - Supplemental	777.2	572.1	424.3	475.0	279.4	77.7	103.2	124.6	116.5	83.0	0.0	58.1	96.2	83.8	73.3	88.1	51.8	3.2	22.4	24.5
Interest Paid - Cash Flow - Supplemental	1,261.8	1,409.4	1,821.1	490.4	113.4	119.0	187.3	143.9	93.1	80.2	75.7	123.2	111.4	123.6	—	—	245.3	268.2	240.6	199.8
CF from Optg Activities before Change in WC & Int Payments	2,310.8	2,026.4	2,499.5	2,709.1	3,380.0	2,404.8	712.6	1,088.3	693.5	591.7	538.3	496.6	657.9	864.2	455.8	976.3	550.6	280.8	252.0	385.3
Depreciation, Depletion & Amortization - Cash Flow	885.2	862.2	867.2	464.4	340.1	263.4	284.7	250.2	223.5	185.8	195.4	197.6	145.2	147.8	150.0	151.7	164.2	177.0	187.3	203.2
Free Cash Flow to Equity	1,271.8	(564.5)	493.8	(77.6)	(884.0)	1,624.8	287.8	268.0	138.7	4.5	(81.8)	206.6	36.6	80.3	69.4	77.0	19.5	10.1	(29.6)	39.3
Free Cash Flow Net of Dividends	4,843.2	(262.2)	197.5	(9,161.3)	(3,873.9)	2,872.5	(662.4)	(1,312.3)	(120.9)	(786.8)	110.6	875.3	(619.5)	(112.8)	367.4	259.5	388.2	372.4	37.7	(246.4)
Free Cash Flow	4,843.2	(262.2)	303.9	(8,947.0)	(3,659.6)	2,872.6	(345.3)	(1,119.7)	(10.7)	(756.9)	140.6	935.2	(559.5)	(52.9)	457.3	319.5	394.2	378.4	45.2	(238.9)

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