Next Capital Limited (NEXT) cash flow statement

Operating activities generated Rs 654.3 mn of cash in FY2026 (Jul 2025 – Jun 2026), up 231.4% on FY2025. Overall, cash increased by Rs 661.1 mn.

NEXT 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
Net cash from operating activities	654.3	197.4	56.1	55.6	(7.9)	258.0	(22.1)	0.5	(10.8)	(294.6)	180.9	91.0	(138.5)	70.9	(69.6)
Net cash from investing activities	(37.0)	18.5	97.8	(176.0)	(92.3)	(84.0)	7.1	(13.1)	(43.4)	45.2	2.1	(6.1)	(10.1)	6.1	(7.6)
Dividends paid	—	—	—	0.0	(0.1)	0.0	(2.1)	(9.2)	(41.5)	—	—	—	—	—	—
Net cash from financing activities	43.9	(16.8)	(15.5)	(14.0)	(10.9)	(10.0)	(11.3)	(69.4)	(88.5)	179.7	14.9	53.7	55.4	(1.6)	71.7
Net change in cash	661.1	199.1	138.4	(134.3)	(111.0)	164.0	(26.3)	(82.0)	(142.7)	(69.7)	197.8	138.6	(93.2)	75.5	(5.5)

NEXT 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
Net cash from operating activities	+231.4%	+251.9%	+0.9%	—	-103.1%	—	-4,595.1%	—	—	-262.9%	+98.7%	—	-295.4%	—	—
Net cash from investing activities	-300.0%	-81.1%	—	—	—	-1,281.9%	—	—	-195.9%	+2,090.4%	—	—	-264.5%	—	—
Dividends paid	—	—	—	-100.0%	—	-100.0%	-77.6%	-77.8%	—	—	—	—	—	—	—
Net cash from financing activities	—	—	—	—	—	—	—	—	-149.3%	+1,108.0%	-72.3%	-3.2%	—	-102.2%	—
Net change in cash	+232.0%	+43.9%	—	—	-167.7%	—	—	—	—	-135.2%	+42.7%	—	-223.4%	—	—

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 65

NEXT 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
Profit/(Loss) - Starting Line - Cash Flow	64.2	38.1	(3.3)	(89.7)	63.3	111.1	36.5	15.7	4.8	140.0	(5.7)	14.7	8.8	(10.4)	(18.3)
Non-cash Items & Reconciliation Adjustments - Cash Flow	(15.9)	(14.8)	(45.9)	26.6	57.1	(3.6)	(14.3)	(14.2)	11.3	(10.2)	13.6	6.8	16.2	10.7	6.0
Other Non-Cash Items & Reconciliation Adjustments - Cash Flow - to Reconcile	18.9	(11.6)	(22.5)	7.0	(11.1)	(13.8)	(24.2)	(2.2)	(2.8)	(4.4)	1.5	0.7	—	—	(2.6)
Financial Income/(Expense) - Cash Flow - to Reconcile	(58.4)	(24.2)	0.3	(6.4)	3.4	3.6	(8.0)	(12.6)	7.4	14.8	8.5	4.3	11.6	5.0	3.2
Depreciation, Depletion & Amortization including Impairment - Cash Flow - to Reconcile	37.4	20.2	23.6	26.5	27.2	21.7	17.4	9.5	9.0	20.6	5.0	5.5	4.6	5.8	5.4
Depreciation & Depletion - Property, Plant & Equipment - Cash Flow - to Reconcile	17.8	20.1	23.4	26.4	27.0	21.6	20.1	9.1	5.8	5.2	4.6	5.4	4.5	5.1	4.6
Amortization - Intangible Assets & Deferred Charges - Cash Flow - to Reconcile	19.5	0.1	0.2	0.2	0.1	0.1	0.4	0.4	0.8	0.5	0.4	0.1	0.1	0.7	0.8
Impairment - Property, Plant & Equipment including Intangible Assets - Cash Flow - to Reconcile	—	—	—	—	—	—	(3.1)	0.0	2.5	14.9	—	—	—	—	—
Assets Sale - Gain/(Loss) - Cash Flow - to Reconcile	(13.7)	0.9	(47.4)	(14.1)	5.0	(15.1)	0.3	(7.8)	(2.9)	(42.6)	(1.3)	(3.6)	0.0	(0.0)	—
Financial Assets - Unrealized Gain/(Loss) - Cash Flow - to Reconcile	0.0	(0.0)	0.1	13.6	32.5	0.0	0.2	(1.1)	0.6	1.4	—	—	—	—	—
Income Taxes - Paid/(Reimbursed) - Cash Flow	38.9	11.2	17.1	11.4	32.2	17.7	11.3	20.0	34.0	46.4	17.6	11.3	5.7	2.7	3.1
Interest Paid - Cash	20.2	25.8	32.3	10.3	31.2	24.6	9.9	11.0	21.6	37.6	26.6	13.3	11.2	4.3	2.5
Interest & Dividends - Received - Total - Cash Flow	78.4	61.6	40.1	26.5	42.9	31.1	46.4	34.5	17.0	21.4	18.1	9.0	—	—	2.6
Cash Flow from Operating Activities before Changes in Working Capital	67.7	48.0	(58.5)	(58.3)	99.9	96.3	47.4	5.0	(22.6)	67.2	(18.2)	6.0	8.0	(6.7)	(15.4)
Working Capital - Increase/(Decrease) - Cash Flow	586.6	149.5	114.6	113.9	(107.8)	161.7	(69.4)	(4.5)	11.8	(361.8)	199.1	85.1	(146.6)	77.6	(54.2)
Accounts Receivables - Decrease/(Increase) - Cash Flow	90.3	50.2	104.5	64.8	86.3	(272.4)	52.6	(5.5)	291.8	(361.0)	51.9	(49.1)	(44.5)	(14.8)	(4.0)
Prepaid Expenses - Decrease/(Increase) - Cash Flow	(45.8)	(134.3)	(41.3)	293.3	(124.8)	108.0	(80.0)	(1.1)	43.3	(172.8)	(74.7)	29.4	(58.9)	16.0	(42.6)
Accounts Payable and Accrued Expenses - Increase/(Decrease) - Cash Flow	532.2	233.5	51.5	(243.1)	(69.3)	326.1	(41.2)	1.4	(323.3)	172.0	221.9	104.7	(43.1)	71.6	(7.7)
Taxes Payable - Increase/(Decrease) - Cash Flow	—	—	—	—	—	—	—	—	—	—	—	—	—	4.8	—
Other Liabilities - Increase/(Decrease) -Total - Cash Flow	9.9	—	0.0	(1.2)	0.0	0.0	(0.9)	0.7	—	—	—	—	—	—	—
Net Cash Flow from Operating Activities	654.3	197.4	56.1	55.6	(7.9)	258.0	(22.1)	0.5	(10.8)	(294.6)	180.9	91.0	(138.5)	70.9	(69.6)
Capital Expenditures - Net - Cash Flow	12.6	47.8	54.3	51.1	81.9	34.5	55.6	61.4	4.0	8.5	7.6	4.8	5.1	3.6	(1.4)
Property, Plant & Equipment - Purchased/(Sold) - Net - Cash Flow	12.2	(2.5)	1.6	(5.6)	9.4	34.5	55.6	61.4	3.8	7.4	6.7	4.6	5.1	3.3	(1.4)
Property, Plant & Equipment - Purchased - Cash Flow	14.9	2.4	1.6	2.7	9.4	36.2	55.6	61.4	3.8	7.4	6.7	4.6	6.0	3.3	0.4
Property, Plant & Equipment Sold - Cash Flow	2.7	4.9	0.0	8.3	—	1.7	—	—	—	—	—	0.0	1.0	0.0	1.8
Intangible Assets - Purchased/(Sold) - Net - Total - Cash Flow	0.4	50.3	52.7	56.7	72.4	0.0	0.1	0.0	0.2	1.1	0.9	0.2	0.0	0.3	0.0
Intangible Assets - Purchased/Acquired - Cash Flow	0.4	50.3	52.7	56.7	72.4	0.0	0.1	0.0	0.2	1.1	0.9	0.2	0.0	0.3	0.0
Capital Expenditures - Total	15.3	52.6	54.3	59.4	81.9	36.2	55.6	61.4	4.0	8.5	7.6	4.8	6.0	3.6	0.4
Investments excluding Loans - Decrease/(Increase) - Cash Flow	(24.3)	64.8	151.4	(135.9)	(79.7)	10.6	31.7	(18.9)	(9.8)	(16.8)	9.7	(1.4)	(5.0)	—	—
Investment Securities - Unclassified - Sold/(Purchased) - Net - Total - Cash Flow	(24.3)	64.8	151.4	(135.9)	(79.7)	10.6	31.7	(18.9)	(9.8)	(16.8)	9.7	(1.4)	(5.0)	—	—
Investment Securities - Sold/Matured - Unclassified - Cash Flow	35.7	—	151.9	12.9	—	30.1	31.7	—	—	—	—	8.6	—	—	—
Investment Securities - Purchased - Unclassified - Cash Flow	60.0	—	0.5	148.8	—	19.5	—	—	—	—	—	10.0	—	—	—
Other Investing Cash Flow - Decrease/(Increase)	0.0	1.4	0.7	11.0	69.3	(60.1)	31.0	67.2	(29.6)	70.5	—	—	—	9.8	(9.0)
Net Cash Flow from Investing Activities	(37.0)	18.5	97.8	(176.0)	(92.3)	(84.0)	7.1	(13.1)	(43.4)	45.2	2.1	(6.1)	(10.1)	6.1	(7.6)
Dividends Paid - Cash - Total - Cash Flow	—	—	—	0.0	0.1	0.0	2.1	9.2	41.5	—	—	—	—	—	—
Dividends - Common - Cash Paid	—	—	—	0.0	0.1	0.0	2.1	9.2	41.5	—	—	—	—	—	—
Stock - Total - Issuance/(Retirement) - Net - Cash Flow	—	—	—	—	—	—	—	—	—	—	—	—	—	0.0	100.0
Stock - Issuance/(Retirement) - Net - Excluding Options/Warrants - Cash Flow	—	—	—	—	—	—	—	—	—	—	—	—	—	0.0	100.0
Stock - Common - Issuance/(Retirement) - Net - Cash Flow	—	—	—	—	—	—	—	—	—	—	—	—	—	0.0	100.0
Stock - Common - Issued/Sold - Cash Flow	—	—	—	—	—	—	—	—	—	—	—	—	—	0.0	100.0
Debt - Long-Term & Short-Term - Issuance/(Retirement) - Total - Cash Flow	43.9	(16.8)	(15.5)	(14.0)	(10.8)	(10.0)	(9.3)	(60.2)	(47.1)	(20.3)	14.9	53.7	55.4	(1.6)	(19.1)
Debt - Issued/(Reduced) - Short-Term - Total - Cash Flow	—	—	—	—	—	—	—	(60.2)	(47.1)	71.9	31.3	(54.4)	58.5	—	—
Debt - Issued - Short-Term - Cash Flow	—	—	—	—	—	—	—	72.6	687.1	861.2	31.3	—	241.2	—	—
Debt - Reduced - Short-Term - Cash Flow	—	—	—	—	—	—	—	132.8	734.2	789.3	0.0	—	182.7	—	—
Debt - Issued/Reduced - Long-Term - Cash Flow	43.9	(16.8)	(15.5)	(14.0)	(10.8)	(10.0)	(9.3)	—	0.0	(92.2)	(16.4)	108.1	(3.1)	(1.6)	(19.1)
Lease liabilities - Issued/(Reduced) - Cash Flow	(16.1)	(16.8)	(15.5)	(14.0)	(10.8)	(10.0)	(9.3)	—	—	—	0.0	(0.5)	(3.1)	(1.6)	(3.4)
Debt - Issued - Long-Term - Cash Flow	60.0	—	—	—	—	—	—	—	0.0	47.6	0.0	108.6	—	—	—
Debt - Reduced - Long-Term - Cash Flow	16.1	16.8	15.5	14.0	10.8	10.0	9.3	—	0.0	139.8	16.4	0.5	3.1	1.6	19.1
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	16.1	16.8	15.5	14.0	10.8	10.0	9.3	—	—	—	0.0	0.5	3.1	1.6	3.4
Other Financing Cash Flow - Increase/(Decrease)	—	—	—	—	—	—	—	—	0.0	200.0	—	—	—	0.0	(9.1)
Net Cash Flow from Financing Activities	43.9	(16.8)	(15.5)	(14.0)	(10.9)	(10.0)	(11.3)	(69.4)	(88.5)	179.7	14.9	53.7	55.4	(1.6)	71.7
Net Change in Cash - Total	661.1	199.1	138.4	(134.3)	(111.0)	164.0	(26.3)	(82.0)	(142.7)	(69.7)	197.8	138.6	(93.2)	75.5	(5.5)
Net Cash from Continuing Operations	661.1	199.1	138.4	(134.3)	(111.0)	164.0	(26.3)	(82.0)	(142.7)	(69.7)	197.8	138.6	(93.2)	75.5	(5.5)
Net Cash - Beginning Balance	275.0	75.8	(62.7)	71.7	182.7	18.7	45.0	127.0	269.7	339.4	141.6	3.0	96.2	20.7	26.2
Net Cash - Ending Balance	936.1	274.9	75.8	(62.7)	71.7	182.7	18.7	45.0	127.0	269.7	339.4	141.6	3.0	96.2	20.7
Income Taxes - Paid/(Reimbursed) - Cash Flow - Supplemental	38.9	11.2	17.1	11.4	32.2	17.7	11.3	20.0	34.0	46.4	17.6	11.3	5.7	2.7	3.1
Interest Paid - Cash Flow - Supplemental	20.2	25.8	32.3	10.3	31.2	24.6	9.9	11.0	21.6	37.6	26.6	13.3	11.2	4.3	2.5
Interest & Dividends - Received - Cash Flow - Supplemental	78.4	61.6	40.1	26.5	42.9	31.1	46.4	34.5	17.0	21.4	18.1	9.0	—	—	2.6
CF from Optg Activities before Change in WC & Int Payments	87.8	73.8	(26.2)	(47.9)	131.1	120.9	57.3	16.0	(1.0)	104.8	8.4	19.2	19.3	(2.4)	(12.8)
Contract Liabilities - Increase/(Decrease) - Cash Flow	—	—	0.0	(1.2)	0.0	0.0	(0.9)	0.7	—	—	—	—	—	—	—
Common Stock Buyback - Net	—	—	—	—	—	—	—	—	—	—	—	—	—	0.0	(100.0)
Depreciation, Depletion & Amortization - Cash Flow	37.4	20.2	23.6	26.5	27.2	21.7	20.5	9.5	6.5	5.7	5.0	5.5	4.6	5.8	5.4
Free Cash Flow to Equity	685.5	132.9	(13.7)	(9.5)	(100.6)	213.5	(87.0)	(121.1)	(61.8)	(323.4)	188.1	139.9	(88.1)	65.7	(87.4)
Free Cash Flow Net of Dividends	639.0	144.8	1.8	(3.8)	(89.8)	221.9	(79.7)	(70.1)	(56.2)	(303.1)	173.3	86.3	(144.5)	67.3	(70.0)
Free Cash Flow	639.0	144.8	1.8	(3.8)	(89.8)	221.9	(77.7)	(60.9)	(14.8)	(303.1)	173.3	86.3	(144.5)	67.3	(70.0)

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