Midwest Limited (NSE:MIDWESTLTD)

Midwest Income Statement

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

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2025	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021
Operating Revenue	6,483	6,262	5,856	5,025	5,252	3,800
Other Revenue	-	-	-	94.16	42.99	74.78
Revenue	6,483	6,262	5,856	5,119	5,295	3,875
Revenue Growth (YoY)	10.70%	6.93%	14.39%	-3.32%	36.67%	50.64%
Cost of Revenue	3,043	3,089	3,051	2,866	3,036	1,124
Gross Profit	3,440	3,173	2,805	2,253	2,260	2,751
Selling, General & Admin	558.66	534.37	441.43	408.38	565.73	505.89
Other Operating Expenses	935.89	810.56	701.33	767.12	543.68	1,202
Operating Expenses	1,792	1,617	1,433	1,434	1,301	1,895
Operating Income	1,648	1,556	1,372	819.01	958.4	855.92
Interest Expense	-129.97	-106.12	-81.85	-88.4	-87.1	-64.72
Interest & Investment Income	63.71	63.71	21.69	16.76	9.88	2.16
Earnings From Equity Investments	257.88	257.88	-	0.05	-5.63	0.16
Currency Exchange Gain (Loss)	-15.82	-15.82	3.42	-28.6	43.91	25.73
Other Non Operating Income (Expenses)	-21.5	5.81	0.25	11.39	5.35	2.57
EBT Excluding Unusual Items	1,802	1,762	1,316	730.21	924.8	821.82
Impairment of Goodwill	-	-	-14.77	-	-0.11	-2.96
Gain (Loss) on Sale of Investments	42.75	42.75	8.49	-	2.86	1.88
Gain (Loss) on Sale of Assets	-2.3	-2.3	56.58	6.06	4.78	-8.47
Asset Writedown	-33.2	-33.2	-16.17	-0.42	-4.75	-5.51
Other Unusual Items	-246.81	11.07	28.1	51.14	0.27	11.77
Pretax Income	1,563	1,780	1,378	786.99	933.02	828.57
Income Tax Expense	412.31	447.07	374.81	242.63	262.08	226.43
Earnings From Continuing Operations	1,151	1,333	1,003	544.36	670.94	602.14
Minority Interest in Earnings	-27.58	-108.87	-37.95	-3.53	-37.93	-34.26
Net Income	1,123	1,224	965.29	540.83	633.01	567.89
Net Income to Common	1,123	1,224	965.29	540.83	633.01	567.89
Net Income Growth	16.34%	26.81%	78.48%	-14.56%	11.47%	254.24%
Shares Outstanding (Basic)	36	34	34	34	34	22
Shares Outstanding (Diluted)	36	34	34	34	34	22
Shares Change (YoY)	5.49%	-	-	-	55.04%	-8.17%
EPS (Basic)	31.48	36.20	28.55	16.00	18.72	26.04
EPS (Diluted)	31.48	36.20	28.55	16.00	18.72	26.04
EPS Growth	10.29%	26.81%	78.48%	-14.56%	-28.11%	285.77%
Free Cash Flow	-695.05	-965.22	648.17	-963.98	791.3	236.94
Free Cash Flow Per Share	-19.49	-28.55	19.17	-28.51	23.40	10.87
Dividend Per Share	-	-	-	3.956	-	-
Gross Margin	53.06%	50.67%	47.90%	44.02%	42.68%	70.99%
Operating Margin	25.42%	24.85%	23.43%	16.00%	18.10%	22.09%
Profit Margin	17.32%	19.55%	16.48%	10.56%	11.95%	14.66%
Free Cash Flow Margin	-10.72%	-15.41%	11.07%	-18.83%	14.94%	6.12%
EBITDA	1,913	1,796	1,589	1,029	1,129	996.61
EBITDA Margin	29.51%	28.68%	27.13%	20.10%	21.32%	25.72%
D&A For EBITDA	265.06	239.47	216.37	210	170.84	140.69
EBIT	1,648	1,556	1,372	819.01	958.4	855.92
EBIT Margin	25.42%	24.85%	23.43%	16.00%	18.10%	22.09%
Effective Tax Rate	26.38%	25.11%	27.20%	30.83%	28.09%	27.33%
Revenue as Reported	6,625	6,431	6,033	5,222	5,395	3,939
Advertising Expenses	-	7.65	5.59	3.66	0.62	-

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