Art Nirman 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
Revenue	196.79	273.85	342.9	197.17	368.25	850.57
Revenue Growth (YoY)	-38.19%	-20.14%	73.91%	-46.46%	-56.71%	36.91%
Cost of Revenue	-169.46	-19.4	197.58	90.63	365.7	719.22
Gross Profit	366.24	293.26	145.32	106.54	2.55	131.35
Selling, General & Admin	8.42	7.28	15.42	13.08	11.51	13.62
Other Operating Expenses	324.85	252.91	108.39	83.73	89.82	91.4
Operating Expenses	337.96	266.02	130.57	103.89	108.46	112.27
Operating Income	28.29	27.24	14.75	2.64	-105.9	19.08
Interest Expense	-19.22	-10.72	-5.2	-2.04	-4.52	-18.92
Interest & Investment Income	3.62	3.62	1.01	0.28	0.33	0.57
Currency Exchange Gain (Loss)	-	-	-	-	-	0.02
Other Non Operating Income (Expenses)	-0.91	-0.48	0.9	-0.03	-	-0.64
EBT Excluding Unusual Items	11.78	19.66	11.46	0.85	-110.09	0.11
Gain (Loss) on Sale of Assets	-	-	-	-0.02	-	-
Pretax Income	11.78	19.66	11.46	0.84	-110.09	0.11
Income Tax Expense	-0.27	-0.27	-0.33	-0.29	-0.12	-0.1
Net Income	12.05	19.92	11.79	1.12	-109.97	0.2
Net Income to Common	12.05	19.92	11.79	1.12	-109.97	0.2
Net Income Growth	-17.55%	69.03%	950.53%	-	-	-97.50%
Shares Outstanding (Basic)	22	25	25	25	25	25
Shares Outstanding (Diluted)	22	25	25	25	25	25
Shares Change (YoY)	-10.64%	-	-	-	-	4.46%
EPS (Basic)	0.54	0.80	0.47	0.04	-4.41	0.01
EPS (Diluted)	0.54	0.80	0.47	0.04	-4.41	0.01
EPS Growth	-7.37%	69.86%	1075.00%	-	-	-97.60%
Free Cash Flow	-	-134.41	15.71	-73.1	92.86	197.77
Free Cash Flow Per Share	-	-5.39	0.63	-2.93	3.72	7.92
Gross Margin	186.11%	107.09%	42.38%	54.03%	0.69%	15.44%
Operating Margin	14.37%	9.95%	4.30%	1.34%	-28.76%	2.24%
Profit Margin	6.12%	7.27%	3.44%	0.57%	-29.86%	0.02%
Free Cash Flow Margin	-	-49.08%	4.58%	-37.08%	25.22%	23.25%
EBITDA	33.43	33.08	21.51	9.73	-98.77	26.33
EBITDA Margin	16.99%	12.08%	6.27%	4.93%	-26.82%	3.09%
D&A For EBITDA	5.14	5.84	6.76	7.09	7.14	7.25
EBIT	28.29	27.24	14.75	2.64	-105.9	19.08
EBIT Margin	14.37%	9.95%	4.30%	1.34%	-28.76%	2.24%
Revenue as Reported	200.34	277.84	346.42	197.45	368.87	851.98

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