Max Estates 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
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
Operating Revenue	1,801	1,605	929.44	1,073	692.89
Other Revenue	1,239	891.85	273.26	225.77	41.93
Revenue	3,040	2,497	1,203	1,299	734.82
Revenue Growth (YoY)	80.28%	107.59%	-7.43%	76.80%	-
Cost of Revenue	119.69	126.73	-	241.29	202.52
Gross Profit	2,920	2,370	1,203	1,058	532.3
Selling, General & Admin	923.91	826.06	531.28	326.44	105.26
Other Operating Expenses	310.8	208.11	220.43	188.96	78.51
Operating Expenses	1,568	1,375	1,006	664.49	290.59
Operating Income	1,351	994.87	196.96	393.41	241.72
Interest Expense	-627.32	-596.26	-	-173.18	-156.58
Other Non Operating Income (Expenses)	-22.41	-22.41	-429.86	-13.01	-3.65
EBT Excluding Unusual Items	701.71	376.19	-232.9	207.22	81.49
Gain (Loss) on Sale of Assets	-	-	-	-	-0.04
Asset Writedown	-	-	-	13.6	-
Other Unusual Items	-	-	-444.51	-	3.06
Pretax Income	701.71	376.19	-677.4	220.82	84.51
Income Tax Expense	206.17	111.89	-126.16	36.15	35.29
Earnings From Continuing Operations	495.55	264.3	-551.24	184.67	49.22
Minority Interest in Earnings	62.45	143.8	129.61	5.48	0.77
Net Income	558	408.1	-421.63	190.15	49.99
Net Income to Common	558	408.1	-421.63	190.15	49.99
Net Income Growth	-	-	-	280.38%	-
Shares Outstanding (Basic)	148	155	147	147	78
Shares Outstanding (Diluted)	148	156	147	148	78
Shares Change (YoY)	-	6.08%	-0.50%	89.70%	-
EPS (Basic)	3.76	2.63	-2.87	1.29	0.64
EPS (Diluted)	3.76	2.62	-2.87	1.29	0.64
EPS Growth	-	-	-	101.03%	-
Free Cash Flow	-7,383	-4,522	-498.13	-9,788	-881.09
Free Cash Flow Per Share	-49.80	-28.99	-3.39	-66.22	-11.31
Gross Margin	96.06%	94.92%	100.00%	81.43%	72.44%
Operating Margin	44.46%	39.85%	16.38%	30.28%	32.90%
Profit Margin	18.36%	16.35%	-35.06%	14.64%	6.80%
Free Cash Flow Margin	-242.91%	-181.12%	-41.42%	-753.36%	-119.91%
EBITDA	1,630	1,280	418.8	515.7	348.26
EBITDA Margin	53.61%	51.28%	34.82%	39.69%	47.39%
D&A For EBITDA	278.15	285.34	221.84	122.29	106.54
EBIT	1,351	994.87	196.96	393.41	241.72
EBIT Margin	44.46%	39.85%	16.38%	30.28%	32.90%
Effective Tax Rate	29.38%	29.74%	-	16.37%	41.76%
Revenue as Reported	3,040	2,497	1,203	1,313	739.35
Advertising Expenses	-	383.94	225.9	40.74	44.89

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