Forge Auto International 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	Sep '25 Sep 30, 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	2,376	2,099	1,694	1,766	1,329	1,095
Other Revenue	0.49	0.49	0.93	0.76	0.37	0.57
Revenue	2,377	2,099	1,695	1,767	1,329	1,096
Revenue Growth (YoY)	40.21%	23.85%	-4.08%	32.96%	21.30%	-
Cost of Revenue	1,384	1,213	989.4	1,087	812.71	674.04
Gross Profit	992.17	886.87	705.72	680.62	516.44	421.72
Selling, General & Admin	144.15	127.18	114.43	83.51	62.28	45.11
Other Operating Expenses	587.29	558.14	451.26	476.3	340.19	316.75
Operating Expenses	775.47	716.68	585.14	580.48	451.8	375.46
Operating Income	216.71	170.18	120.57	100.14	64.64	46.26
Interest Expense	-59.78	-40.73	-34.27	-32.85	-27.63	-24.53
Interest & Investment Income	7.72	7.72	0.82	0.48	0.23	0.23
Currency Exchange Gain (Loss)	0.11	0.11	1.74	1.81	0.44	0.55
Other Non Operating Income (Expenses)	-1.6	-1.18	-4.26	-0.28	-0.23	-0.21
EBT Excluding Unusual Items	163.16	136.11	84.6	69.3	37.44	22.3
Gain (Loss) on Sale of Assets	-4.08	-4.08	4.95	-	-	-
Pretax Income	159.08	132.02	89.55	69.3	37.44	22.3
Income Tax Expense	43.88	36.73	24.91	19.67	11.01	6.24
Net Income	115.2	95.29	64.64	49.63	26.43	16.06
Net Income to Common	115.2	95.29	64.64	49.63	26.43	16.06
Net Income Growth	78.22%	47.42%	30.25%	87.75%	64.65%	-
Shares Outstanding (Basic)	11	10	3	7	7	8
Shares Outstanding (Diluted)	11	10	3	7	7	8
Shares Change (YoY)	342.42%	267.56%	-60.44%	-	-18.13%	-
EPS (Basic)	10.05	10.01	24.95	7.58	4.04	2.01
EPS (Diluted)	10.05	10.01	24.95	7.58	4.04	2.00
EPS Growth	-59.72%	-59.89%	229.26%	87.75%	101.28%	-
Free Cash Flow	-77.07	-199.98	24.12	-4.39	-23.92	6.36
Free Cash Flow Per Share	-6.72	-21.00	9.31	-0.67	-3.65	0.80
Gross Margin	41.75%	42.24%	41.63%	38.51%	38.86%	38.49%
Operating Margin	9.12%	8.11%	7.11%	5.67%	4.86%	4.22%
Profit Margin	4.85%	4.54%	3.81%	2.81%	1.99%	1.47%
Free Cash Flow Margin	-3.24%	-9.53%	1.42%	-0.25%	-1.80%	0.58%
EBITDA	260.16	200.97	140.03	120.5	82.42	59.79
EBITDA Margin	10.95%	9.57%	8.26%	6.82%	6.20%	5.46%
D&A For EBITDA	43.46	30.79	19.46	20.36	17.78	13.53
EBIT	216.71	170.18	120.57	100.14	64.64	46.26
EBIT Margin	9.12%	8.11%	7.11%	5.67%	4.86%	4.22%
Effective Tax Rate	27.58%	27.82%	27.82%	28.38%	29.40%	27.99%
Revenue as Reported	2,404	2,127	1,708	1,776	1,340	1,098
Advertising Expenses	-	3.14	1.27	0.74	0.16	0.12

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.