NISM Series XV case set 1

Aster Components reports annual revenue of ₹500 crore, cost of goods sold ₹300 crore, other cash operating expenses ₹100 crore and depreciation ₹20 crore. Interest expense is ₹10 crore. For this fictional exercise, tax equals 30% of profit before tax and is paid in cash in the same year. Inventory rises by ₹30 crore, receivables rise by ₹40 crore and operating payables rise by ₹10 crore. There are no other working-capital movements or non-cash adjustments. Use the indirect operating-cash-flow calculation starting with net profit, adding depreciation and subtracting the net operating working-capital increase. Do not treat borrowing proceeds as operating income.

All people, firms, prices and contract terms are fictional.

Ignore taxes and transaction costs unless the case explicitly includes them.