Last close · 16 Oct 2026
Rs 132.06 -0.68%
Quarterly · Q1 FY2022 – Q4 FY2026
Security Papers Limited (SEPL) quarterly cash flow statement
Operating activities generated Rs 1.2 bn of cash in Q4 FY2026 (Apr – Jun 2026), up 428.8% on Q4 FY2025, 264% of the starting profit. Capital expenditure was Rs 2.1 bn, leaving free cash flow of -Rs 917.0 mn. Overall, cash increased by Rs 433.3 mn.
| Rs mn | TTM to Jun 2026 | Q4 FY2026 Apr – Jun 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | |||||||||||||||||||||
| Profit (cash-flow starting line, as reported) | 1,598.1 | 438.6 | 326.1 | 355.1 | 478.2 | 624.3 | 461.5 | 680.6 | 647.4 | 635.8 | 574.9 | 585.9 | 595.6 | 881.8 | 98.0 | 251.2 | 312.6 | 157.7 | 466.1 | 442.2 | 331.7 |
| Depreciation & amortisation | 287.0 | 73.6 | 72.7 | 69.8 | 70.8 | 65.8 | 67.5 | 63.6 | 57.2 | 57.8 | 57.4 | 55.8 | 52.7 | 57.9 | 51.2 | 52.9 | 49.8 | 57.4 | 59.8 | 58.1 | 57.0 |
| Net cash from operating activities | 1,239.6 | 1,158.0 | 473.4 | 209.1 | (600.9) | 219.0 | 141.0 | 839.0 | (336.6) | 450.1 | (152.2) | 147.2 | 253.3 | 589.9 | (435.4) | 150.3 | (204.2) | 377.3 | 133.2 | 68.7 | 607.1 |
| Investing activities | |||||||||||||||||||||
| Capital expenditure | (2,767.2) | (2,075.0) | (122.8) | (90.2) | (479.2) | (54.0) | (124.3) | (200.2) | (52.4) | (151.5) | (74.5) | (26.6) | (78.1) | (61.3) | (28.4) | (20.9) | (21.4) | (30.3) | (55.9) | (31.2) | (25.2) |
| Net cash from investing activities | (1,184.6) | (724.7) | (574.1) | 172.0 | (57.7) | 37.6 | (1,445.3) | 1,300.5 | 227.5 | (851.6) | (1,037.4) | 501.5 | 153.8 | 942.1 | 206.2 | 622.3 | 20.7 | (179.7) | (914.7) | 740.7 | (231.6) |
| Financing activities | |||||||||||||||||||||
| Dividends paid | — | — | (0.0) | (374.2) | (63.7) | (0.9) | (121.7) | (537.0) | (12.7) | (8.7) | (177.2) | (526.5) | (0.2) | (50.4) | (0.1) | (486.6) | (0.0) | (0.5) | (0.3) | (419.5) | (64.2) |
| Borrowings raised / (repaid) | — | — | — | — | — | 0.0 | 0.0 | 0.0 | — | 0.1 | 35.2 | (38.3) | (1.7) | (7.9) | (1.4) | (4.3) | (3.9) | (4.2) | (2.8) | (1.8) | (1.8) |
| Net cash from financing activities | (437.9) | 0.0 | (0.0) | (374.2) | (63.7) | (0.9) | (121.7) | (537.0) | (12.7) | (8.6) | (142.0) | (564.8) | (2.0) | (58.4) | (1.5) | (490.9) | (3.9) | (4.6) | (3.1) | (421.3) | (65.9) |
| Net change in cash | (382.9) | 433.3 | (100.8) | 6.9 | (722.3) | 255.6 | (1,426.0) | 1,602.5 | (121.8) | (410.1) | (1,331.6) | 83.9 | 405.1 | 1,473.7 | (230.6) | 281.7 | (187.4) | 193.0 | (784.6) | 388.1 | 309.6 |
| Key figures | |||||||||||||||||||||
| Free cash flow (operating cash flow − capex) | (1,527.6) | (917.0) | 350.6 | 118.9 | (1,080.0) | 165.0 | 16.7 | 638.7 | (389.0) | 298.6 | (226.7) | 120.6 | 175.2 | 528.6 | (463.8) | 129.4 | (225.6) | 347.0 | 77.3 | 37.5 | 581.9 |
| Rs mn | Q4 FY2026 Apr – Jun 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||||||||||||
| Profit (cash-flow starting line, as reported) | -29.7% | -29.3% | -47.8% | -26.1% | -1.8% | -19.7% | +16.2% | +8.7% | -27.9% | +486.4% | +133.2% | +90.5% | +459.1% | -79.0% | -43.2% | -5.8% | -77.0% | -18.9% | +86.9% | -33.7% |
| Depreciation & amortisation | +11.9% | +7.7% | +9.8% | +23.8% | +13.9% | +17.7% | +14.0% | +8.5% | -0.2% | +12.0% | +5.5% | +6.0% | +0.9% | -14.3% | -8.9% | -12.7% | +5.5% | +18.0% | +18.9% | +17.6% |
| Net cash from operating activities | +428.8% | +235.6% | -75.1% | — | -51.3% | — | +470.0% | -232.9% | -23.7% | — | -2.1% | — | +56.3% | -426.9% | +118.8% | -133.6% | +94.6% | -69.7% | +27.8% | +4,601.2% |
| Investing activities | ||||||||||||||||||||
| Capital expenditure | +3,742.3% | -1.2% | -54.9% | +814.9% | -64.4% | +66.9% | +653.6% | -32.9% | +146.9% | +162.4% | +27.3% | +264.6% | +102.4% | -49.2% | -33.2% | -15.1% | -65.8% | -32.9% | -76.1% | -28.3% |
| Net cash from investing activities | -2,027.1% | — | -86.8% | -125.4% | — | — | +159.3% | +48.0% | -190.4% | -603.0% | -19.4% | +643.3% | — | — | -16.0% | — | — | — | — | -157.3% |
| Financing activities | ||||||||||||||||||||
| Dividends paid | — | -100.0% | -30.3% | +399.7% | -89.2% | -31.3% | +2.0% | +5,369.1% | -82.7% | +184,494.8% | +8.2% | +385.4% | +10,834.5% | -67.8% | +16.0% | -99.9% | +2,095.2% | +246.5% | +824.7% | -83.5% |
| Borrowings raised / (repaid) | — | — | — | — | -100.0% | -100.0% | — | — | — | — | — | — | — | — | — | — | — | -103.5% | — | — |
| Net cash from financing activities | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | -103.9% | — | — |
| Net change in cash | +69.5% | — | -99.6% | — | — | — | +1,810.8% | -130.1% | -127.8% | — | -70.2% | — | +663.5% | — | -27.4% | -160.5% | +228.5% | -1,015.2% | — | +1,036.2% |
| Key figures | ||||||||||||||||||||
| Free cash flow (operating cash flow − capex) | -655.8% | +2,001.5% | -81.4% | — | -44.8% | — | +429.5% | -322.0% | -43.5% | — | -6.8% | — | +52.3% | -700.3% | +245.5% | -138.8% | +229.8% | -78.4% | — | — |
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 54
| Rs mn | Q4 FY2026 Apr – Jun 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Profit/(Loss) - Starting Line - Cash Flow | 438.6 | 326.1 | 355.1 | 478.2 | 624.3 | 461.5 | 680.6 | 647.4 | 635.8 | 574.9 | 585.9 | 595.6 |
| Non-cash Items & Reconciliation Adjustments - Cash Flow | (108.3) | (91.7) | (76.9) | (92.1) | (130.7) | (141.8) | (190.5) | (180.8) | (208.8) | (208.3) | (160.9) | (194.5) |
| Other Non-Cash Items & Reconciliation Adjustments - Cash Flow - to Reconcile | (181.8) | (169.2) | (149.5) | (163.2) | (242.1) | (165.9) | (257.0) | (219.1) | (585.0) | 50.8 | (321.4) | (142.2) |
| Financial Income/(Expense) - Cash Flow - to Reconcile | 0.2 | 4.8 | 0.5 | 1.2 | 1.8 | 0.5 | 0.7 | 0.5 | 1.7 | 1.0 | 0.9 | 2.4 |
| Depreciation, Depletion & Amortization including Impairment - Cash Flow - to Reconcile | 73.6 | 72.7 | 69.8 | 70.8 | 65.8 | 67.5 | 63.6 | 57.2 | 57.8 | 57.4 | 55.8 | 52.7 |
| Depreciation & Depletion - Property, Plant & Equipment - Cash Flow - to Reconcile | 72.6 | 71.8 | 68.9 | 69.9 | 64.8 | 66.5 | 62.6 | 56.3 | 57.0 | 56.7 | 55.1 | 52.0 |
| Amortization - Intangible Assets & Deferred Charges - Cash Flow - to Reconcile | 1.1 | 0.9 | 0.9 | 0.9 | 1.0 | 1.0 | 1.0 | 0.9 | 0.7 | 0.7 | 0.7 | 0.7 |
| Assets Sale - Gain/(Loss) - Cash Flow - to Reconcile | (0.4) | (0.0) | 2.3 | (0.9) | 43.9 | (43.9) | 2.2 | (19.4) | 316.6 | (317.4) | 103.8 | (107.5) |
| Income Taxes - Paid/(Reimbursed) - Cash Flow | 145.2 | 279.0 | 242.2 | 190.0 | 240.2 | 143.3 | 283.2 | 183.1 | 248.5 | 184.6 | 181.9 | 192.5 |
| Interest Paid - Cash | 0.2 | 4.8 | 0.5 | 1.2 | 1.8 | 0.5 | 0.7 | 0.9 | 1.3 | 1.0 | 0.9 | 2.5 |
| Interest & Dividends - Received - Total - Cash Flow | — | — | — | — | — | — | — | — | 0.0 | 0.0 | 0.0 | 0.0 |
| Cash Flow from Operating Activities before Changes in Working Capital | 184.8 | (49.4) | 35.5 | 194.9 | 251.6 | 175.9 | 206.1 | 282.7 | 177.1 | 181.1 | 242.2 | 206.1 |
| Working Capital - Increase/(Decrease) - Cash Flow | 973.2 | 522.7 | 173.6 | (795.8) | (32.6) | (34.9) | 632.8 | (619.3) | 273.0 | (333.3) | (95.0) | 47.1 |
| Accounts Receivables - Decrease/(Increase) - Cash Flow | 294.8 | 518.9 | 61.6 | (610.6) | (213.3) | (33.8) | 677.9 | (325.0) | (109.0) | (474.2) | 32.3 | 751.8 |
| Inventories - Decrease/(Increase) - Cash Flow | (48.6) | (34.1) | 277.1 | (41.7) | 28.3 | (45.8) | (18.7) | (35.9) | 218.0 | (124.6) | (103.0) | (163.3) |
| Accounts Payable - Increase/(Decrease) - Cash Flow | 727.0 | 37.9 | (165.1) | (143.5) | 152.4 | 44.7 | (26.4) | (258.3) | 164.0 | 265.5 | (24.3) | (541.3) |
| Net Cash Flow from Operating Activities | 1,158.0 | 473.4 | 209.1 | (600.9) | 219.0 | 141.0 | 839.0 | (336.6) | 450.1 | (152.2) | 147.2 | 253.3 |
| Capital Expenditures - Net - Cash Flow | 2,073.8 | 122.8 | 80.6 | 478.1 | 54.0 | 124.3 | 178.3 | 52.4 | 149.1 | 74.5 | 26.6 | 75.9 |
| Property, Plant & Equipment - Purchased/(Sold) - Net - Cash Flow | 2,071.0 | 122.8 | 80.6 | 478.1 | 53.8 | 124.3 | 177.4 | 48.1 | 148.7 | 74.0 | 26.6 | 75.9 |
| Property, Plant & Equipment - Purchased - Cash Flow | 2,072.3 | 122.8 | 90.2 | 479.2 | 53.8 | 124.3 | 199.4 | 48.1 | 151.1 | 74.0 | 26.6 | 78.1 |
| Property, Plant & Equipment Sold - Cash Flow | 1.2 | 0.0 | 9.6 | 1.1 | 0.0 | — | 22.0 | — | 2.4 | 0.0 | 0.0 | 2.2 |
| Intangible Assets - Purchased/(Sold) - Net - Total - Cash Flow | 2.8 | 0.0 | 0.0 | 0.0 | 0.2 | (0.0) | 0.9 | 4.2 | 0.4 | 0.5 | 0.0 | 0.0 |
| Intangible Assets - Purchased/Acquired - Cash Flow | 2.8 | 0.0 | 0.0 | 0.0 | 0.2 | — | 0.9 | 4.2 | 0.4 | 0.5 | 0.0 | 0.0 |
| Intangible Assets - Net - Cash Flow | — | — | — | — | — | (0.0) | — | — | — | — | — | — |
| Capital Expenditures - Total | 2,075.0 | 122.8 | 90.2 | 479.2 | 54.0 | 124.3 | 200.2 | 52.4 | 151.5 | 74.5 | 26.6 | 78.1 |
| Investments excluding Loans - Decrease/(Increase) - Cash Flow | 1,266.2 | (611.4) | 178.8 | 191.9 | 0.0 | (1,550.1) | 1,373.1 | 100.0 | (850.0) | (1,160.0) | 192.0 | 96.0 |
| Investment Securities - Unclassified - Sold/(Purchased) - Net - Total - Cash Flow | 1,266.2 | (611.4) | 178.8 | 191.9 | 0.0 | (1,550.1) | 1,373.1 | 100.0 | (850.0) | (1,160.0) | 192.0 | 96.0 |
| Investment Securities - Sold/Matured - Unclassified - Cash Flow | 1,623.2 | 765.7 | 478.0 | 1,355.9 | 0.0 | 502.4 | 1,373.1 | 100.0 | 0.0 | 0.0 | 288.0 | 96.0 |
| Investment Securities - Purchased - Unclassified - Cash Flow | 356.9 | 1,377.1 | 299.2 | 1,164.0 | 0.0 | 2,052.5 | — | — | 850.0 | 1,160.0 | 96.0 | — |
| Other Investing Cash Flow - Decrease/(Increase) | 82.8 | 160.1 | 73.8 | 228.5 | 91.6 | 229.1 | 105.7 | 179.9 | 147.4 | 197.1 | 336.0 | 133.7 |
| Net Cash Flow from Investing Activities | (724.7) | (574.1) | 172.0 | (57.7) | 37.6 | (1,445.3) | 1,300.5 | 227.5 | (851.6) | (1,037.4) | 501.5 | 153.8 |
| Dividends Paid - Cash - Total - Cash Flow | — | 0.0 | 374.2 | 63.7 | 0.9 | 121.7 | 537.0 | 12.7 | 8.7 | 177.2 | 526.5 | 0.2 |
| Dividends - Common - Cash Paid | — | 0.0 | 374.2 | 63.7 | 0.9 | 121.7 | 537.0 | 12.7 | 8.7 | 177.2 | 526.5 | 0.2 |
| Debt - Long-Term & Short-Term - Issuance/(Retirement) - Total - Cash Flow | — | — | — | — | 0.0 | 0.0 | 0.0 | — | 0.1 | 35.2 | (38.3) | (1.7) |
| Debt - Issued/Reduced - Long-Term - Cash Flow | — | — | — | — | 0.0 | 0.0 | 0.0 | — | 0.1 | 35.2 | (38.3) | (1.7) |
| Lease liabilities - Issued/(Reduced) - Cash Flow | — | — | — | — | 0.0 | 0.0 | 0.0 | — | 0.1 | 35.2 | (38.3) | (1.7) |
| Debt - Issued - Long-Term - Cash Flow | — | — | — | — | — | — | — | — | 0.1 | 35.2 | — | — |
| Lease liabilities - Issued - Cash flow | — | — | — | — | — | — | — | — | 0.1 | 35.2 | — | — |
| Debt - Reduced - Long-Term - Cash Flow | — | — | — | — | 0.0 | 0.0 | 0.0 | — | — | — | 38.3 | 1.7 |
| 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 | — | — | — | — | 0.0 | 0.0 | 0.0 | — | — | — | 38.3 | 1.7 |
| Other Financing Cash Flow - Increase/(Decrease) | 0.0 | — | — | — | — | — | — | — | — | — | — | — |
| Net Cash Flow from Financing Activities | 0.0 | (0.0) | (374.2) | (63.7) | (0.9) | (121.7) | (537.0) | (12.7) | (8.6) | (142.0) | (564.8) | (2.0) |
| Net Change in Cash - Total | 433.3 | (100.8) | 6.9 | (722.3) | 255.6 | (1,426.0) | 1,602.5 | (121.8) | (410.1) | (1,331.6) | 83.9 | 405.1 |
| Net Cash from Continuing Operations | 433.3 | (100.8) | 6.9 | (722.3) | 255.6 | (1,426.0) | 1,602.5 | (121.8) | (410.1) | (1,331.6) | 83.9 | 405.1 |
| Net Cash - Beginning Balance | 337.1 | 437.8 | 430.9 | 1,153.2 | 897.6 | 2,323.5 | 721.0 | 842.8 | 1,252.9 | 2,584.5 | 2,500.6 | 2,095.5 |
| Net Cash - Ending Balance | 770.3 | 337.1 | 437.8 | 430.9 | 1,153.2 | 897.6 | 2,323.5 | 721.0 | 842.8 | 1,252.9 | 2,584.5 | 2,500.6 |
| Income Taxes - Paid/(Reimbursed) - Cash Flow - Supplemental | 145.2 | 279.0 | 242.2 | 190.0 | 240.2 | 143.3 | 283.2 | 183.1 | 248.5 | 184.6 | 181.9 | 192.5 |
| Interest Paid - Cash Flow - Supplemental | 0.2 | 4.8 | 0.5 | 1.2 | 1.8 | 0.5 | 0.7 | 0.9 | 1.3 | 1.0 | 0.9 | 2.5 |
| Interest & Dividends - Received - Cash Flow - Supplemental | — | — | — | — | — | — | — | — | 0.0 | 0.0 | 0.0 | 0.0 |
| CF from Optg Activities before Change in WC & Int Payments | 185.1 | (44.6) | 36.1 | 196.1 | 253.4 | 176.4 | 206.9 | 283.6 | 178.4 | 182.1 | 243.0 | 208.6 |
| Depreciation, Depletion & Amortization - Cash Flow | 73.6 | 72.7 | 69.8 | 70.8 | 65.8 | 67.5 | 63.6 | 57.2 | 57.8 | 57.4 | 55.8 | 52.7 |
| Free Cash Flow to Equity | (915.8) | 350.6 | 128.5 | (1,079.0) | 165.0 | 16.7 | 660.7 | (389.0) | 301.2 | (191.5) | 82.3 | 175.6 |
| Free Cash Flow Net of Dividends | (917.0) | 350.5 | (255.3) | (1,143.7) | 164.0 | (105.0) | 101.7 | (401.7) | 289.9 | (403.9) | (405.9) | 175.0 |
| Free Cash Flow | (917.0) | 350.6 | 118.9 | (1,080.0) | 165.0 | 16.7 | 638.7 | (389.0) | 298.6 | (226.7) | 120.6 | 175.2 |
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.