Happy Square Outsourcing Services Limited (NSE:WHITEFORCE)

NSE:WHITEFORCE Income Statement

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021
Operating Revenue	974.15	692.89	526.99	282.3	123.7
Other Revenue	1.39	0.51	-0	-	-
Revenue	975.53	693.39	526.99	282.3	123.7
Revenue Growth (YoY)	40.69%	31.58%	86.68%	128.22%	1858.58%
Cost of Revenue	870.58	622.43	485.01	268.69	114.69
Gross Profit	104.96	70.97	41.98	13.61	9
Selling, General & Admin	0.58	0.08	0.39	0.38	0.2
Other Operating Expenses	9.86	5.78	10.42	8.32	5.2
Operating Expenses	14.95	7.84	12.43	9.65	6.07
Operating Income	90	63.12	29.55	3.96	2.93
Interest Expense	-10.17	-6.03	-3	-0.31	-0.07
Interest & Investment Income	1.3	2.04	0.73	0.16	0.02
Other Non Operating Income (Expenses)	-1.36	-0.54	-0.67	-0.23	0.15
EBT Excluding Unusual Items	79.77	58.59	26.62	3.59	3.03
Other Unusual Items	-	-2.31	-	-	-
Pretax Income	79.77	56.29	26.62	3.59	3.03
Income Tax Expense	20.33	15.72	6.53	0.79	0.73
Net Income	59.45	40.57	20.09	2.8	2.31
Net Income to Common	59.45	40.57	20.09	2.8	2.31
Net Income Growth	46.54%	101.96%	616.50%	21.50%	835.08%
Shares Outstanding (Basic)	8	-	8	8	8
Shares Outstanding (Diluted)	8	-	8	8	8
Shares Change (YoY)	-	-	0.01%	0.00%	-0.15%
EPS (Basic)	7.07	-	2.39	0.33	0.27
EPS (Diluted)	7.07	-	2.39	0.33	0.27
EPS Growth	-	-	616.41%	21.50%	836.52%
Free Cash Flow	-31.09	-38.82	-10.48	0	8.73
Free Cash Flow Per Share	-3.70	-	-1.25	-	1.04
Gross Margin	10.76%	10.23%	7.97%	4.82%	7.28%
Operating Margin	9.23%	9.10%	5.61%	1.40%	2.37%
Profit Margin	6.09%	5.85%	3.81%	0.99%	1.86%
Free Cash Flow Margin	-3.19%	-5.60%	-1.99%	0.00%	7.06%
EBITDA	91.51	64.77	31.12	4.91	3.41
EBITDA Margin	9.38%	9.34%	5.90%	1.74%	2.76%
D&A For EBITDA	1.51	1.64	1.56	0.95	0.48
EBIT	90	63.12	29.55	3.96	2.93
EBIT Margin	9.23%	9.10%	5.61%	1.40%	2.37%
Effective Tax Rate	25.48%	27.93%	24.52%	21.88%	23.91%
Revenue as Reported	976.84	695.43	528.01	282.46	123.86

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