Modi's Navnirman 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	1,893	865.39	577.84	430.72	89.87
Other Revenue	33.68	5.37	-	7.65	-
Revenue	1,927	870.76	577.84	438.37	89.87
Revenue Growth (YoY)	121.28%	50.69%	31.82%	387.80%	-32.01%
Cost of Revenue	1,471	663.25	469.62	120.86	-8.34
Gross Profit	456.06	207.5	108.22	317.51	98.2
Selling, General & Admin	37.21	34.2	10.09	18.13	6.54
Other Operating Expenses	34.28	12.34	7.72	206.45	80.49
Operating Expenses	75.51	46.66	17.9	224.59	87.06
Operating Income	380.55	160.84	90.32	92.92	11.15
Interest Expense	-16.54	-2.21	-0.08	-16.95	-0.01
Interest & Investment Income	-	6.53	0.71	1.22	0.23
Other Non Operating Income (Expenses)	-	-0.22	-0.31	-0.28	-0.14
Pretax Income	364.01	164.94	90.64	76.91	11.23
Income Tax Expense	72.23	42.42	23.72	19.28	2.84
Net Income	291.79	122.52	66.92	57.64	8.39
Net Income to Common	291.79	122.52	66.92	57.64	8.39
Net Income Growth	138.16%	83.08%	16.10%	586.73%	121.86%
Shares Outstanding (Basic)	20	20	19	17	12
Shares Outstanding (Diluted)	20	20	19	17	12
Shares Change (YoY)	0.03%	2.62%	12.83%	42.42%	-
EPS (Basic)	14.89	6.25	3.51	3.41	0.71
EPS (Diluted)	14.89	6.25	3.51	3.41	0.71
EPS Growth	138.10%	78.41%	2.90%	382.17%	122.51%
Free Cash Flow	-23.61	-216.5	-58.85	-72.57	-160.68
Free Cash Flow Per Share	-1.21	-11.05	-3.08	-4.29	-13.53
Dividend Per Share	-	-	-	1.000	-
Gross Margin	23.67%	23.83%	18.73%	72.43%	109.28%
Operating Margin	19.75%	18.47%	15.63%	21.20%	12.40%
Profit Margin	15.14%	14.07%	11.58%	13.15%	9.34%
Free Cash Flow Margin	-1.23%	-24.86%	-10.18%	-16.55%	-178.80%
EBITDA	384.58	160.96	90.34	92.94	11.17
EBITDA Margin	19.96%	18.49%	15.63%	21.20%	12.43%
D&A For EBITDA	4.02	0.12	0.01	0.01	0.03
EBIT	380.55	160.84	90.32	92.92	11.15
EBIT Margin	19.75%	18.47%	15.63%	21.20%	12.40%
Effective Tax Rate	19.84%	25.72%	26.17%	25.06%	25.28%
Revenue as Reported	1,927	885.67	579.05	439.59	90.1
Advertising Expenses	-	0.02	0.08	0.06	0.36

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