SCL Shield Corporation Limited
Latest results: FY2025 · Jun 2025 Q3 FY2026 · Jan – Mar 2026
Quarterly · Q4 FY2021 – Q3 FY2026
Shield Corporation Limited (SCL) quarterly cash flow statement
Operating activities generated Rs 30.4 mn of cash in Q3 FY2026 (Jan – Mar 2026), up 29.8% on Q3 FY2025, 68% of the starting profit. Capital expenditure was Rs 28.6 mn, leaving free cash flow of Rs 1.8 mn. Overall, cash increased by Rs 37.1 mn.
| Rs mn | TTM to Mar 2026 | Q3 FY2026 Jan – Mar 2026 | Q2 FY2026 Oct – Dec 2025 | Q1 FY2026 Jul – Sep 2025 | Q4 FY2025 Apr – Jun 2025 | Q3 FY2025 Jan – Mar 2025 | Q2 FY2025 Oct – Dec 2024 | Q1 FY2025 Jul – Sep 2024 | Q4 FY2024 Apr – Jun 2024 | Q3 FY2024 Jan – Mar 2024 | Q2 FY2024 Oct – Dec 2023 | Q1 FY2024 Jul – Sep 2023 | Q4 FY2023 Apr – Jun 2023 | Q3 FY2023 Jan – Mar 2023 | Q2 FY2023 Oct – Dec 2022 | Q1 FY2023 Jul – Sep 2022 | Q4 FY2022 Apr – Jun 2022 | Q3 FY2022 Jan – Mar 2022 | Q2 FY2022 Oct – Dec 2021 | Q1 FY2022 Jul – Sep 2021 | Q4 FY2021 Apr – Jun 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | |||||||||||||||||||||
| Profit (cash-flow starting line, as reported) | (178.0) | 44.6 | 4.2 | (27.0) | (199.8) | 0.5 | 272.8 | (46.7) | (218.4) | (175.4) | (13.0) | 38.9 | 72.6 | 86.7 | 50.1 | 17.6 | (29.2) | 24.6 | 12.1 | 18.3 | 16.0 |
| Depreciation & amortisation | 106.2 | 25.1 | 25.3 | 24.4 | 31.4 | 30.6 | 31.5 | 31.0 | 32.0 | 31.8 | 29.1 | 28.5 | 30.2 | 28.5 | 23.1 | 21.0 | 19.6 | 18.4 | 17.9 | 17.2 | 19.3 |
| Net cash from operating activities | 113.7 | 30.4 | 46.4 | 42.4 | (5.5) | 23.4 | (113.4) | (229.3) | 43.0 | 43.9 | 216.6 | (71.3) | (108.3) | 69.0 | 175.4 | 14.8 | (29.1) | 27.3 | (107.3) | 22.9 | (6.4) |
| Investing activities | |||||||||||||||||||||
| Capital expenditure | (119.9) | (28.6) | (21.2) | (37.4) | (32.7) | (48.6) | (16.6) | (22.4) | (46.0) | (53.0) | (77.6) | (32.7) | (52.0) | (59.5) | (43.0) | (69.0) | (320.3) | (129.1) | (133.4) | (92.7) | (19.1) |
| Net cash from investing activities | (9.7) | (28.5) | (21.2) | 19.3 | 20.7 | (48.6) | 374.2 | (22.4) | (46.0) | (52.7) | (77.6) | (31.3) | (51.9) | (59.4) | (43.0) | (69.0) | (320.3) | (128.9) | (133.1) | (91.9) | (18.5) |
| Financing activities | |||||||||||||||||||||
| Dividends paid | — | — | — | — | (0.0) | (0.0) | 0.0 | (0.0) | (0.0) | 0.0 | (0.0) | 0.0 | (0.1) | (0.0) | 0.0 | (0.0) | 0.0 | (0.0) | (7.8) | (0.0) | (0.1) |
| Borrowings raised / (repaid) | (114.4) | 35.2 | (8.3) | (18.2) | (123.2) | (56.0) | (81.6) | 358.5 | (212.9) | 168.5 | (160.5) | 109.7 | 102.7 | (80.3) | (82.5) | 63.2 | 353.0 | 65.1 | 187.7 | 99.8 | (4.6) |
| Net cash from financing activities | (114.4) | 35.2 | (8.3) | (18.2) | (123.2) | (56.0) | (81.6) | 358.5 | (212.9) | 168.5 | (160.5) | 109.7 | 102.6 | (80.3) | (82.5) | 63.2 | 353.0 | 65.1 | 179.9 | 99.8 | (4.7) |
| Net change in cash | (11.0) | 37.1 | 16.9 | 43.5 | (108.6) | (81.1) | 179.2 | 106.8 | (216.0) | 159.6 | (21.4) | 7.1 | (57.3) | (70.5) | 49.8 | 9.3 | 3.8 | (36.5) | (60.4) | 30.7 | (29.6) |
| Key figures | |||||||||||||||||||||
| Free cash flow (operating cash flow − capex) | (6.1) | 1.8 | 25.2 | 5.0 | (38.2) | (25.2) | (130.0) | (251.7) | (3.0) | (9.2) | 139.0 | (104.0) | (160.2) | 9.4 | 132.3 | (54.2) | (349.4) | (101.7) | (240.7) | (69.9) | (25.5) |
| Rs mn | Q3 FY2026 Jan – Mar 2026 | Q2 FY2026 Oct – Dec 2025 | Q1 FY2026 Jul – Sep 2025 | Q4 FY2025 Apr – Jun 2025 | Q3 FY2025 Jan – Mar 2025 | Q2 FY2025 Oct – Dec 2024 | Q1 FY2025 Jul – Sep 2024 | Q4 FY2024 Apr – Jun 2024 | Q3 FY2024 Jan – Mar 2024 | Q2 FY2024 Oct – Dec 2023 | Q1 FY2024 Jul – Sep 2023 | Q4 FY2023 Apr – Jun 2023 | Q3 FY2023 Jan – Mar 2023 | Q2 FY2023 Oct – Dec 2022 | Q1 FY2023 Jul – Sep 2022 | Q4 FY2022 Apr – Jun 2022 | Q3 FY2022 Jan – Mar 2022 | Q2 FY2022 Oct – Dec 2021 | Q1 FY2022 Jul – Sep 2021 | Q4 FY2021 Apr – Jun 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||||||||||||
| Profit (cash-flow starting line, as reported) | +8,357.4% | -98.5% | — | — | — | — | -220.1% | -400.6% | -302.3% | -126.0% | +121.1% | — | +252.5% | +312.9% | -3.7% | -282.0% | -68.3% | -87.4% | -50.8% | — |
| Depreciation & amortisation | -17.9% | -19.7% | -21.2% | -2.1% | -3.9% | +8.1% | +8.9% | +6.0% | +11.8% | +26.4% | +35.5% | +54.4% | +55.2% | +29.0% | +22.2% | +1.2% | +2.9% | +0.5% | -1.5% | — |
| Net cash from operating activities | +29.8% | — | — | -112.9% | -46.6% | -152.4% | — | — | -36.4% | +23.5% | -581.4% | — | +152.4% | — | -35.2% | — | +17.7% | -204.6% | -78.9% | -127.0% |
| Investing activities | ||||||||||||||||||||
| Capital expenditure | -41.2% | +27.9% | +67.0% | -28.9% | -8.4% | -78.6% | -31.4% | -11.5% | -10.9% | +80.3% | -52.6% | -83.8% | -53.9% | -67.7% | -25.6% | +1,580.5% | +1,651.0% | +468.8% | +217.1% | +25.7% |
| Net cash from investing activities | — | -105.7% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing activities | ||||||||||||||||||||
| Dividends paid | — | — | — | -39.1% | — | -100.0% | — | -97.3% | -100.0% | — | -100.0% | — | -42.1% | -100.0% | +1,021.1% | -100.0% | — | +58,974.9% | — | — |
| Borrowings raised / (repaid) | — | — | -105.1% | — | -133.2% | — | +226.8% | -307.3% | — | — | +73.4% | -70.9% | -223.2% | -144.0% | -36.6% | — | — | — | — | -107.1% |
| Net cash from financing activities | — | — | -105.1% | — | -133.2% | — | +226.8% | -307.5% | — | — | +73.5% | -70.9% | -223.2% | -145.9% | -36.7% | — | — | — | — | -107.2% |
| Net change in cash | — | -90.6% | -59.2% | — | -150.8% | — | +1,404.0% | — | — | -143.0% | -23.4% | -1,599.0% | — | — | -69.8% | — | — | -212.6% | -30.2% | -140.5% |
| Key figures | ||||||||||||||||||||
| Free cash flow (operating cash flow − capex) | — | — | — | — | — | -193.5% | — | — | -197.2% | +5.1% | — | — | — | — | — | — | -742.1% | -404.1% | -188.3% | -397.3% |
Change against the same quarter a year earlier; shown when the earlier figure is positive.
Figures in Pakistani rupees as reported by the company; costs and cash outflows in brackets; "—" = not reported. TTM = the latest four quarters added together. Updated 17 Oct 2026.
All reported line items 56
| Rs mn | Q3 FY2026 Jan – Mar 2026 | Q2 FY2026 Oct – Dec 2025 | Q1 FY2026 Jul – Sep 2025 | Q4 FY2025 Apr – Jun 2025 | Q3 FY2025 Jan – Mar 2025 | Q2 FY2025 Oct – Dec 2024 | Q1 FY2025 Jul – Sep 2024 | Q4 FY2024 Apr – Jun 2024 | Q3 FY2024 Jan – Mar 2024 | Q2 FY2024 Oct – Dec 2023 | Q1 FY2024 Jul – Sep 2023 | Q4 FY2023 Apr – Jun 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Profit/(Loss) - Starting Line - Cash Flow | 44.6 | 4.2 | (27.0) | (199.8) | 0.5 | 272.8 | (46.7) | (218.4) | (175.4) | (13.0) | 38.9 | 72.6 |
| Non-cash Items & Reconciliation Adjustments - Cash Flow | 31.6 | 45.9 | 72.9 | 180.1 | 61.8 | (205.4) | 77.9 | 95.0 | 108.5 | 116.8 | 105.3 | 99.8 |
| Equity Income/(Loss) in Net Earnings - Cash Flow - to Reconcile | — | — | — | — | — | — | — | 0.0 | 0.0 | — | — | 0.1 |
| Other Non-Cash Items & Reconciliation Adjustments - Cash Flow - to Reconcile | (10.1) | 3.1 | 26.6 | 0.4 | 1.3 | 1.3 | (1.9) | 1.9 | 0.7 | (0.1) | 0.2 | 3.1 |
| Financial Income/(Expense) - Cash Flow - to Reconcile | 16.7 | 17.5 | 20.7 | 22.6 | 29.3 | 44.2 | 48.8 | 61.0 | 75.3 | 87.8 | 76.9 | 66.2 |
| Depreciation, Depletion & Amortization including Impairment - Cash Flow - to Reconcile | 25.1 | 25.3 | 24.4 | 69.3 | 30.6 | 31.5 | 31.0 | 32.0 | 31.8 | 29.1 | 28.5 | 30.4 |
| Depreciation & Depletion - Property, Plant & Equipment - Cash Flow - to Reconcile | 25.1 | 25.3 | 24.4 | 31.4 | 30.6 | 31.5 | 31.0 | 32.0 | 31.8 | 29.1 | 28.5 | 30.2 |
| Amortization - Intangible Assets & Deferred Charges - Cash Flow - to Reconcile | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Impairment - Property, Plant & Equipment including Intangible Assets - Cash Flow - to Reconcile | — | — | — | 38.0 | — | — | — | 0.0 | — | — | — | 0.2 |
| Assets Sale - Gain/(Loss) - Cash Flow - to Reconcile | (0.0) | 0.0 | 1.1 | 87.7 | 0.6 | 3.1 | — | 0.0 | 0.6 | (0.0) | (0.2) | (0.0) |
| Financial Assets - Unrealized Gain/(Loss) - Cash Flow - to Reconcile | — | — | — | 0.0 | 0.0 | (285.5) | — | — | — | — | — | — |
| Income Taxes - Paid/(Reimbursed) - Cash Flow | 16.4 | 5.6 | 13.1 | 16.8 | 14.4 | 25.4 | 9.4 | 13.7 | 7.9 | 9.3 | 51.7 | 19.1 |
| Interest Paid - Cash | 17.9 | 19.2 | 20.2 | 26.7 | 39.3 | 58.9 | 53.3 | 71.0 | 89.9 | 85.0 | 67.4 | 45.1 |
| Cash Flow from Operating Activities before Changes in Working Capital | 41.9 | 25.3 | 12.6 | (63.2) | 8.6 | (16.9) | (31.4) | (208.0) | (164.7) | 9.4 | 25.0 | 108.3 |
| Working Capital - Increase/(Decrease) - Cash Flow | (11.5) | 21.2 | 29.8 | 57.7 | 14.8 | (96.5) | (197.8) | 251.0 | 208.6 | 207.2 | (96.3) | (216.6) |
| Accounts Receivables - Decrease/(Increase) - Cash Flow | 26.1 | 30.5 | (46.1) | (0.6) | 16.2 | (20.0) | 20.5 | 6.1 | 23.0 | 155.9 | 5.1 | (138.3) |
| Inventories - Decrease/(Increase) - Cash Flow | (65.7) | (68.9) | 164.9 | 84.7 | 68.2 | 69.9 | (25.9) | 73.5 | 373.4 | (103.9) | (232.7) | (126.9) |
| Other Assets - Decrease/(Increase) - Cash Flow | (0.2) | (9.5) | (6.4) | 3.6 | 0.7 | (3.7) | 8.4 | (11.4) | 10.0 | (5.2) | 2.0 | 4.7 |
| Accounts Payable and Accrued Expenses - Increase/(Decrease) - Cash Flow | 23.7 | (6.8) | 18.1 | (62.0) | (129.0) | (59.2) | (58.1) | (53.4) | (197.9) | 160.4 | 129.2 | 43.9 |
| Other Liabilities - Increase/(Decrease) -Total - Cash Flow | 4.6 | 75.8 | (100.7) | 32.0 | 58.8 | (83.5) | (142.7) | 236.1 | — | — | — | — |
| Net Cash Flow from Operating Activities | 30.4 | 46.4 | 42.4 | (5.5) | 23.4 | (113.4) | (229.3) | 43.0 | 43.9 | 216.6 | (71.3) | (108.3) |
| Capital Expenditures - Net - Cash Flow | 28.5 | 21.2 | (19.3) | (15.3) | 48.6 | 16.4 | 22.4 | 46.0 | 52.7 | 77.6 | 32.3 | 51.9 |
| Property, Plant & Equipment - Purchased/(Sold) - Net - Cash Flow | 28.5 | 21.2 | (19.3) | (15.3) | 48.6 | 16.4 | 22.4 | 46.0 | 52.7 | 77.6 | 32.3 | 51.9 |
| Property, Plant & Equipment - Purchased - Cash Flow | 28.6 | 21.2 | 37.4 | 32.7 | 48.6 | 16.6 | 22.4 | 46.0 | 53.0 | 77.6 | 32.7 | 52.0 |
| Property, Plant & Equipment Sold - Cash Flow | 0.1 | 0.0 | 56.8 | 47.9 | 0.0 | 0.2 | 0.0 | 0.0 | 0.3 | 0.0 | 0.4 | 0.1 |
| Intangible Assets - Purchased/(Sold) - Net - Total - Cash Flow | — | — | — | — | — | — | — | 0.0 | 0.0 | — | — | 0.0 |
| Intangible Assets - Purchased/Acquired - Cash Flow | — | — | — | — | — | — | — | 0.0 | 0.0 | — | — | 0.0 |
| Capital Expenditures - Total | 28.6 | 21.2 | 37.4 | 32.7 | 48.6 | 16.6 | 22.4 | 46.0 | 53.0 | 77.6 | 32.7 | 52.0 |
| Investments excluding Loans - Decrease/(Increase) - Cash Flow | — | — | — | 5.4 | 0.0 | 390.6 | — | — | — | — | — | — |
| Investment Property excluded from Capital Expenditures - Sold/(Purchased) - Net - Cash Flow | — | — | — | 0.0 | 0.0 | 396.0 | — | — | — | — | — | — |
| Investment Securities - Unclassified - Sold/(Purchased) - Net - Total - Cash Flow | — | — | — | 5.4 | 0.0 | (5.4) | — | — | — | — | — | — |
| Investment Securities - Sold/Matured - Unclassified - Cash Flow | — | — | — | 5.4 | — | — | — | — | — | — | — | — |
| Investment Securities - Purchased - Unclassified - Cash Flow | — | — | — | — | 0.0 | 5.4 | — | — | — | — | — | — |
| Investments - Associated Companies & Joint Ventures - Sold/(Purchased) - Cash Flow | — | — | — | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 1.0 | — |
| Other Investing Cash Flow - Decrease/(Increase) | — | — | — | 0.0 | (0.0) | — | — | — | — | — | — | — |
| Net Cash Flow from Investing Activities | (28.5) | (21.2) | 19.3 | 20.7 | (48.6) | 374.2 | (22.4) | (46.0) | (52.7) | (77.6) | (31.3) | (51.9) |
| Dividends Paid - Cash - Total - Cash Flow | — | — | — | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.1 |
| Dividends - Common - Cash Paid | — | — | — | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.1 |
| Debt - Long-Term & Short-Term - Issuance/(Retirement) - Total - Cash Flow | 35.2 | (8.3) | (18.2) | (123.2) | (56.0) | (81.6) | 358.5 | (212.9) | 168.5 | (160.5) | 109.7 | 102.7 |
| Debt - Issued/(Reduced) - Short-Term - Total - Cash Flow | 55.1 | 11.4 | (41.9) | (93.1) | (18.5) | (43.8) | 32.2 | (205.4) | (113.5) | (137.0) | 136.6 | 123.8 |
| Debt - Issued - Short-Term - Cash Flow | — | — | — | 633.1 | — | — | — | 1,199.8 | — | — | — | — |
| Debt - Reduced - Short-Term - Cash Flow | — | — | — | 726.2 | — | — | — | 1,405.2 | — | — | — | — |
| Debt - Issued/Reduced - Long-Term - Cash Flow | (19.9) | (19.7) | 23.7 | (30.1) | (37.5) | (37.8) | 326.3 | (7.5) | 281.9 | (23.4) | (26.9) | (21.1) |
| Net Cash Flow from Financing Activities | 35.2 | (8.3) | (18.2) | (123.2) | (56.0) | (81.6) | 358.5 | (212.9) | 168.5 | (160.5) | 109.7 | 102.6 |
| Foreign Exchange Effects - Cash Flow | (0.1) | (0.0) | (0.0) | (0.5) | 0.0 | 0.0 | (0.0) | (0.1) | 0.0 | 0.0 | 0.0 | 0.2 |
| Net Change in Cash - Total | 37.1 | 16.9 | 43.5 | (108.6) | (81.1) | 179.2 | 106.8 | (216.0) | 159.6 | (21.4) | 7.1 | (57.3) |
| Net Cash from Continuing Operations | 37.1 | 16.9 | 43.5 | (108.6) | (81.1) | 179.2 | 106.8 | (216.0) | 159.6 | (21.4) | 7.1 | (57.3) |
| Net Cash - Beginning Balance | (219.9) | (236.8) | (280.4) | (171.7) | (90.7) | (269.9) | (376.7) | (160.7) | (320.4) | (298.9) | (306.0) | (248.8) |
| Net Cash - Ending Balance | (182.8) | (219.9) | (236.8) | (280.4) | (171.7) | (90.7) | (269.9) | (376.7) | (160.7) | (320.4) | (298.9) | (306.0) |
| Income Taxes - Paid/(Reimbursed) - Cash Flow - Supplemental | 16.4 | 5.6 | 13.1 | 16.8 | 14.4 | 25.4 | 9.4 | 13.7 | 7.9 | 9.3 | 51.7 | 19.1 |
| Interest Paid - Cash Flow - Supplemental | 17.9 | 19.2 | 20.2 | 26.7 | 39.3 | 58.9 | 53.3 | 71.0 | 89.9 | 85.0 | 67.4 | 45.1 |
| CF from Optg Activities before Change in WC & Int Payments | 59.9 | 44.5 | 32.8 | (36.5) | 47.8 | 42.0 | 21.9 | (137.1) | (74.8) | 94.5 | 92.5 | 153.4 |
| Depreciation, Depletion & Amortization - Cash Flow | 25.1 | 25.3 | 24.4 | 31.4 | 30.6 | 31.5 | 31.0 | 32.0 | 31.8 | 29.1 | 28.5 | 30.2 |
| Free Cash Flow to Equity | 37.2 | 17.0 | 43.6 | (113.5) | (81.1) | (211.4) | 106.8 | (215.9) | 159.6 | (21.4) | 6.1 | (57.4) |
| Free Cash Flow Net of Dividends | 1.8 | 25.2 | 5.0 | (38.2) | (25.2) | (130.0) | (251.7) | (3.0) | (9.2) | 139.0 | (104.0) | (160.3) |
| Free Cash Flow | 1.8 | 25.2 | 5.0 | (38.2) | (25.2) | (130.0) | (251.7) | (3.0) | (9.2) | 139.0 | (104.0) | (160.2) |
Every line the company reported, in the original order and wording, without regrouping or signs changed. Latest 12 periods; the table above goes back further.