Ashirwad Capital Income Statement

Financials in millions INR. Fiscal year is April - March.

Millions INR. Fiscal year is Apr - Mar.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022	Mar '21 Mar 31, 2021
Operating Revenue	14.38	10.34	16.41	7.63	10.92	6.19
Other Revenue	2.32	1.99	2.36	1.99	1.31	0.85
Revenue	16.7	12.33	18.76	9.63	12.23	7.04
Revenue Growth (YoY)	29.25%	-34.32%	94.95%	-21.27%	73.65%	54.28%
Cost of Revenue	-0.06	-0.06	0.07	-	-	-
Gross Profit	16.76	12.39	18.7	9.63	12.23	7.04
Selling, General & Admin	0.24	0.24	0.16	0.2	0.16	0.16
Other Operating Expenses	2	1.44	1.15	0.85	0.79	0.75
Operating Expenses	2.34	1.75	1.38	1.13	1.03	0.99
Operating Income	14.43	10.64	17.32	8.5	11.2	6.05
Interest Expense	-2.23	-0.82	-	-	-	-
EBT Excluding Unusual Items	12.2	9.82	17.32	8.5	11.2	6.05
Pretax Income	12.2	9.82	17.32	8.5	11.2	6.05
Income Tax Expense	2.03	1.39	1.84	0.91	1.29	0.29
Net Income	10.17	8.43	15.48	7.59	9.91	5.76
Net Income to Common	10.17	8.43	15.48	7.59	9.91	5.76
Net Income Growth	5.88%	-45.55%	103.99%	-23.40%	72.18%	97.65%
Shares Outstanding (Basic)	100	94	91	88	89	93
Shares Outstanding (Diluted)	100	94	91	88	89	93
Shares Change (YoY)	16.93%	2.84%	4.04%	-1.85%	-3.61%	-1.17%
EPS (Basic)	0.10	0.09	0.17	0.09	0.11	0.06
EPS (Diluted)	0.10	0.09	0.17	0.09	0.11	0.06
EPS Growth	-9.45%	-47.06%	96.08%	-21.96%	78.62%	100.00%
Free Cash Flow	-	21.48	-12.76	-16.5	-0.39	-0.18
Free Cash Flow Per Share	-	0.23	-0.14	-0.19	-0.00	-0.00
Gross Margin	100.37%	100.50%	99.63%	100.00%	100.00%	100.00%
Operating Margin	86.38%	86.30%	92.29%	88.28%	91.62%	85.93%
Profit Margin	60.91%	68.40%	82.51%	78.86%	81.05%	81.75%
Free Cash Flow Margin	-	174.28%	-67.99%	-171.43%	-3.15%	-2.54%
EBITDA	14.49	10.71	17.39	8.57	11.28	6.13
EBITDA Margin	86.79%	86.87%	92.67%	89.06%	92.26%	87.12%
D&A For EBITDA	0.07	0.07	0.07	0.08	0.08	0.08
EBIT	14.43	10.64	17.32	8.5	11.2	6.05
EBIT Margin	86.38%	86.30%	92.29%	88.28%	91.62%	85.93%
Effective Tax Rate	16.61%	14.15%	10.60%	10.67%	11.53%	4.87%
Revenue as Reported	16.7	12.33	18.76	9.63	12.23	7.04
Advertising Expenses	-	0.02	0.02	0.02	0.02	0.02

Source: S&P Global Market Intelligence. Standard template. Financial Sources.