Annual · FY2016 – FY2025
Shield Corporation Limited (SCL) cash flow statement
Operating activities generated -Rs 324.8 mn of cash in FY2025 (Jul 2024 – Jun 2025), down 239.9% on FY2024, -1,211% of the starting profit. Capital expenditure was Rs 120.3 mn, leaving free cash flow of -Rs 445.1 mn. Dividends paid to shareholders came to Rs 6,390. Overall, cash increased by Rs 96.3 mn.
| Rs mn | 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 | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Profit (cash-flow starting line, as reported) | 26.8 | (367.9) | 227.1 | 25.8 | 227.2 | |||||
| Depreciation & amortisation | 124.5 | 121.5 | 102.8 | 73.0 | 72.4 | |||||
| Net cash from operating activities | (324.8) | 232.2 | 150.9 | (86.2) | 227.7 | |||||
| Investing activities | ||||||||||
| Capital expenditure | (120.3) | (209.3) | (223.5) | (675.5) | (79.1) | |||||
| Net cash from investing activities | 323.9 | (207.5) | (223.3) | (674.3) | (74.9) | |||||
| Financing activities | ||||||||||
| Dividends paid | (0.0) | (0.0) | (0.1) | (7.8) | (0.1) | |||||
| Borrowings raised / (repaid) | 97.7 | (95.3) | 3.2 | 705.6 | (146.2) | |||||
| Net cash from financing activities | 97.7 | (95.3) | 3.1 | 697.8 | (146.3) | |||||
| Net change in cash | 96.3 | (70.7) | (68.7) | (62.3) | 6.5 | |||||
| Key figures | ||||||||||
| Free cash flow (operating cash flow − capex) | (445.1) | 22.9 | (72.7) | (761.7) | 148.6 | |||||
| Rs mn | 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 | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Profit (cash-flow starting line, as reported) | — | -262.0% | +780.2% | -88.6% | — | |||||
| Depreciation & amortisation | +2.5% | +18.2% | +40.8% | +0.8% | — | |||||
| Net cash from operating activities | -239.9% | +53.9% | — | -137.8% | — | |||||
| Investing activities | ||||||||||
| Capital expenditure | -42.5% | -6.4% | -66.9% | +753.7% | -67.8% | |||||
| Net cash from investing activities | — | — | — | — | — | |||||
| Financing activities | ||||||||||
| Dividends paid | -6.6% | -93.9% | -98.6% | +9,147.2% | -98.3% | |||||
| Borrowings raised / (repaid) | — | -3,084.1% | -99.5% | — | -148.7% | |||||
| Net cash from financing activities | — | -3,193.1% | -99.6% | — | -149.6% | |||||
| Net change in cash | — | — | — | -1,056.7% | +66.1% | |||||
| Key figures | ||||||||||
| Free cash flow (operating cash flow − capex) | -2,044.2% | — | — | -612.6% | — | |||||
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. Updated 15 Oct 2026.
All reported line items 54
| Rs mn | 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 |
|---|---|---|---|---|---|
| Profit/(Loss) - Starting Line - Cash Flow | 26.8 | (367.9) | 227.1 | 25.8 | 227.2 |
| Non-cash Items & Reconciliation Adjustments - Cash Flow | 114.4 | 425.5 | 310.9 | 165.9 | 146.2 |
| Equity Income/(Loss) in Net Earnings - Cash Flow - to Reconcile | — | 0.0 | 0.6 | 0.9 | 0.8 |
| Other Non-Cash Items & Reconciliation Adjustments - Cash Flow - to Reconcile | 1.1 | 2.8 | 3.1 | 1.3 | 5.8 |
| Financial Income/(Expense) - Cash Flow - to Reconcile | 144.9 | 301.0 | 203.1 | 85.0 | 52.5 |
| Depreciation, Depletion & Amortization including Impairment - Cash Flow - to Reconcile | 162.5 | 121.5 | 102.9 | 73.0 | 76.2 |
| Depreciation & Depletion - Property, Plant & Equipment - Cash Flow - to Reconcile | 124.4 | 121.4 | 102.6 | 72.8 | 72.2 |
| Amortization - Intangible Assets & Deferred Charges - Cash Flow - to Reconcile | 0.0 | 0.1 | 0.2 | 0.2 | 0.2 |
| Impairment - Property, Plant & Equipment including Intangible Assets - Cash Flow - to Reconcile | 38.0 | 0.0 | 0.2 | 0.0 | 3.8 |
| Assets Sale - Gain/(Loss) - Cash Flow - to Reconcile | 91.4 | 0.3 | 1.1 | 5.7 | 10.9 |
| Financial Assets - Unrealized Gain/(Loss) - Cash Flow - to Reconcile | (285.5) | — | — | — | — |
| Income Taxes - Paid/(Reimbursed) - Cash Flow | 66.0 | 82.5 | 100.5 | 62.1 | (11.1) |
| Interest Paid - Cash | 178.1 | 313.4 | 182.0 | 53.2 | 64.4 |
| Cash Flow from Operating Activities before Changes in Working Capital | (103.0) | (338.3) | 255.5 | 76.4 | 320.2 |
| Working Capital - Increase/(Decrease) - Cash Flow | (221.8) | 570.5 | (104.6) | (162.6) | (92.4) |
| Accounts Receivables - Decrease/(Increase) - Cash Flow | 16.2 | 190.2 | (203.5) | 88.4 | (108.6) |
| Inventories - Decrease/(Increase) - Cash Flow | 196.9 | 110.4 | (196.5) | (328.9) | (13.7) |
| Prepaid Expenses - Decrease/(Increase) - Cash Flow | — | — | — | (35.5) | (10.9) |
| Other Assets - Decrease/(Increase) - Cash Flow | 8.9 | (4.6) | 37.9 | 3.9 | 0.3 |
| Accounts Payable and Accrued Expenses - Increase/(Decrease) - Cash Flow | (308.4) | 38.4 | 257.6 | 109.5 | 40.3 |
| Other Liabilities - Increase/(Decrease) -Total - Cash Flow | (135.4) | 236.1 | — | — | — |
| Net Cash Flow from Operating Activities | (324.8) | 232.2 | 150.9 | (86.2) | 227.7 |
| Capital Expenditures - Net - Cash Flow | 72.1 | 208.5 | 223.3 | 674.3 | 74.9 |
| Property, Plant & Equipment - Purchased/(Sold) - Net - Cash Flow | 72.1 | 208.5 | 223.3 | 674.1 | 74.9 |
| Property, Plant & Equipment - Purchased - Cash Flow | 120.3 | 209.3 | 223.4 | 675.3 | 79.1 |
| Property, Plant & Equipment Sold - Cash Flow | 48.2 | 0.8 | 0.2 | 1.2 | 4.2 |
| Intangible Assets - Purchased/(Sold) - Net - Total - Cash Flow | — | 0.0 | 0.1 | 0.1 | 0.0 |
| Intangible Assets - Purchased/Acquired - Cash Flow | — | 0.0 | 0.1 | 0.1 | 0.0 |
| Capital Expenditures - Total | 120.3 | 209.3 | 223.5 | 675.5 | 79.1 |
| Investments excluding Loans - Decrease/(Increase) - Cash Flow | 396.0 | — | — | — | — |
| Investment Property excluded from Capital Expenditures - Sold/(Purchased) - Net - Cash Flow | 396.0 | — | — | — | — |
| Investments - Associated Companies & Joint Ventures - Sold/(Purchased) - Cash Flow | 0.0 | 1.0 | — | — | — |
| Net Cash Flow from Investing Activities | 323.9 | (207.5) | (223.3) | (674.3) | (74.9) |
| Dividends Paid - Cash - Total - Cash Flow | 0.0 | 0.0 | 0.1 | 7.8 | 0.1 |
| Dividends - Common - Cash Paid | 0.0 | 0.0 | 0.1 | 7.8 | 0.1 |
| Debt - Long-Term & Short-Term - Issuance/(Retirement) - Total - Cash Flow | 97.7 | (95.3) | 3.2 | 705.6 | (146.2) |
| Debt - Issued/(Reduced) - Short-Term - Total - Cash Flow | (123.2) | (319.4) | 91.0 | 352.9 | (129.8) |
| Debt - Issued - Short-Term - Cash Flow | 603.0 | 1,085.8 | — | — | — |
| Debt - Reduced - Short-Term - Cash Flow | 726.2 | 1,405.2 | — | — | — |
| Debt - Issued/Reduced - Long-Term - Cash Flow | 221.0 | 224.1 | (87.8) | 352.7 | (16.4) |
| Debt - Issued - Long-Term - Cash Flow | — | — | — | — | — |
| Net Cash Flow from Financing Activities | 97.7 | (95.3) | 3.1 | 697.8 | (146.3) |
| Foreign Exchange Effects - Cash Flow | (0.5) | (0.1) | 0.7 | 0.3 | (0.0) |
| Net Change in Cash - Total | 96.3 | (70.7) | (68.7) | (62.3) | 6.5 |
| Net Cash from Continuing Operations | 96.3 | (70.7) | (68.7) | (62.3) | 6.5 |
| Net Cash - Beginning Balance | (376.7) | (306.0) | (237.4) | (175.0) | (181.5) |
| Net Cash - Ending Balance | (280.4) | (376.7) | (306.0) | (237.4) | (175.0) |
| Income Taxes - Paid/(Reimbursed) - Cash Flow - Supplemental | 66.0 | 82.5 | 100.5 | 62.1 | (11.1) |
| Interest Paid - Cash Flow - Supplemental | 178.1 | 313.4 | 182.0 | 53.2 | 64.4 |
| CF from Optg Activities before Change in WC & Int Payments | 75.2 | (24.9) | 437.5 | 129.6 | 384.6 |
| Depreciation, Depletion & Amortization - Cash Flow | 124.5 | 121.5 | 102.8 | 73.0 | 72.4 |
| Free Cash Flow to Equity | (299.1) | (71.6) | (69.3) | (54.9) | 6.6 |
| Free Cash Flow Net of Dividends | (445.1) | 22.9 | (72.8) | (769.4) | 148.5 |
| Free Cash Flow | (445.1) | 22.9 | (72.7) | (761.7) | 148.6 |
Every line the company reported, in the original order and wording, without regrouping or signs changed.