Mahindra EPC Irrigation Income Statement

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

Millions INR. Fiscal year is Apr - Mar.

Fiscal Year	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Mar '26 Mar 31, 2026	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022
Operating Revenue	3,121	2,727	2,625	2,104	2,119
Revenue	3,121	2,727	2,625	2,104	2,119
Revenue Growth (YoY)	14.46%	3.89%	24.76%	-0.74%	-17.18%
Cost of Revenue	1,417	1,276	1,407	1,275	1,348
Gross Profit	1,704	1,451	1,217	828.7	771.8
Selling, General & Admin	377.8	348.1	341.7	314.1	322.5
Other Operating Expenses	1,110	962.8	815.3	645.4	503.5
Operating Expenses	1,519	1,345	1,189	990.3	857.6
Operating Income	184.8	106.4	28.9	-161.6	-85.8
Interest Expense	-31.2	-21.9	-26.2	-21.7	-18.7
Interest & Investment Income	3.3	2.1	2.3	1.3	0.9
Earnings From Equity Investments	-	-	-4.8	-2.8	-4.1
Currency Exchange Gain (Loss)	-0.1	-0.6	-3.3	-0.5	-0.1
Other Non Operating Income (Expenses)	3.4	2.7	1.1	2.2	1.9
EBT Excluding Unusual Items	160.2	88.7	-2	-183.1	-105.9
Gain (Loss) on Sale of Assets	-0.4	-0.1	-	-0.8	0.5
Other Unusual Items	10.1	18.5	26.3	23.6	0.2
Pretax Income	169.9	107.1	24.3	-160.3	-105.2
Income Tax Expense	43	35	7.6	-37.2	-26.1
Net Income	126.9	72.1	16.7	-123.1	-79.1
Net Income to Common	126.9	72.1	16.7	-123.1	-79.1
Net Income Growth	76.01%	331.74%	-	-	-
Shares Outstanding (Basic)	28	28	28	28	28
Shares Outstanding (Diluted)	28	28	28	28	28
Shares Change (YoY)	0.01%	0.01%	0.21%	0.17%	-0.49%
EPS (Basic)	4.54	2.58	0.60	-4.41	-2.84
EPS (Diluted)	4.54	2.58	0.60	-4.41	-2.84
EPS Growth	75.97%	331.20%	-	-	-
Free Cash Flow	-184.5	-63.5	-9	168.5	-239.5
Free Cash Flow Per Share	-6.60	-2.27	-0.32	6.04	-8.60
Gross Margin	54.60%	53.21%	46.39%	39.39%	36.42%
Operating Margin	5.92%	3.90%	1.10%	-7.68%	-4.05%
Profit Margin	4.07%	2.64%	0.64%	-5.85%	-3.73%
Free Cash Flow Margin	-5.91%	-2.33%	-0.34%	8.01%	-11.30%
EBITDA	214.5	137.1	57.7	-132.4	-55.5
EBITDA Margin	6.87%	5.03%	2.20%	-6.29%	-2.62%
D&A For EBITDA	29.7	30.7	28.8	29.2	30.3
EBIT	184.8	106.4	28.9	-161.6	-85.8
EBIT Margin	5.92%	3.90%	1.10%	-7.68%	-4.05%
Effective Tax Rate	25.31%	32.68%	31.28%	-	-
Revenue as Reported	3,158	2,751	2,655	2,131	2,124

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