Hi Mahesh, thanks for your inputs.
I am trying to arrive at NDCF (Net Distributable Cash Flow) from PAT. My calculations are rough, but should majorly explain NDCF from PAT.
I am not trying to derive CFO, however, agree, working capital changes will have impact on NDCF.
However, I see working capital changes are small, and cannot explain movement of 400+ Cr.
Similarly, as explained in my previous post, Embassy golf Links is not part of P&L (only proportional profit of 50% equity is added to P&L), so NDCF would be higher. Hiwever, Alagain 400+ Cr is big number to justify the movement.
May there are more factors which we are not able to catch.
@dd1474 please share your views
Amit
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