Valiant Laboratories 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	Dec '25 Dec 31, 2025	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022
Revenue	2,033	1,334	1,821	3,339	3,124
Revenue Growth (YoY)	91.43%	-26.74%	-45.48%	6.90%	-
Cost of Revenue	1,737	1,170	1,705	2,789	2,530
Gross Profit	295.74	163.9	115.76	549.82	594.07
Selling, General & Admin	55.62	43.88	43.13	46.13	33.44
Other Operating Expenses	185.95	166.81	156.71	152.79	101.43
Operating Expenses	277.88	231.62	219.49	214.55	159.13
Operating Income	17.86	-67.72	-103.73	335.28	434.94
Interest Expense	-9.44	-1.74	-0.78	-2.54	-0.36
Interest & Investment Income	30.27	30.27	26.77	0.97	8.31
Currency Exchange Gain (Loss)	-0.15	-0.15	2.89	5.83	8.72
Other Non Operating Income (Expenses)	-36.53	19.48	58.74	3.45	1.05
EBT Excluding Unusual Items	2.01	-19.86	-16.11	342.99	452.66
Gain (Loss) on Sale of Investments	4.73	4.73	8.42	38.37	-
Pretax Income	6.75	-15.13	-7.7	381.36	452.66
Income Tax Expense	50.06	6.89	-10.89	91.38	111.93
Net Income	-43.31	-22.01	3.2	289.98	340.74
Net Income to Common	-43.31	-22.01	3.2	289.98	340.74
Net Income Growth	-	-	-98.90%	-14.89%	-
Shares Outstanding (Basic)	52	43	38	33	33
Shares Outstanding (Diluted)	52	43	38	33	33
Shares Change (YoY)	24.80%	14.33%	16.72%	-	-
EPS (Basic)	-0.84	-0.51	0.08	8.91	10.46
EPS (Diluted)	-0.84	-0.51	0.08	8.91	10.46
EPS Growth	-	-	-99.06%	-14.88%	-
Free Cash Flow	-	-1,125	-439.85	183.7	49.48
Free Cash Flow Per Share	-	-25.90	-11.57	5.64	1.52
Gross Margin	14.55%	12.29%	6.36%	16.47%	19.02%
Operating Margin	0.88%	-5.08%	-5.70%	10.04%	13.92%
Profit Margin	-2.13%	-1.65%	0.18%	8.68%	10.91%
Free Cash Flow Margin	-	-84.37%	-24.16%	5.50%	1.58%
EBITDA	37.83	-48.7	-85.98	349.23	456.55
EBITDA Margin	1.86%	-3.65%	-4.72%	10.46%	14.62%
D&A For EBITDA	19.97	19.02	17.75	13.95	21.61
EBIT	17.86	-67.72	-103.73	335.28	434.94
EBIT Margin	0.88%	-5.08%	-5.70%	10.04%	13.92%
Effective Tax Rate	742.15%	-	-	23.96%	24.73%
Revenue as Reported	2,031	1,388	1,917	3,388	3,149

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.