Ming Shing Group Holdings Limited (MSW)

Ming Shing Group Holdings Income Statement

Financials in millions USD. 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
Revenue	33.85	27.57	21.87	14.38	6.15
Revenue Growth (YoY)	22.77%	26.09%	52.03%	133.73%	-
Cost of Revenue	35.16	22.48	18.37	11.76	5.03
Gross Profit	-1.31	5.09	3.49	2.63	1.12
Selling, General & Admin	4.05	1.85	0.86	0.51	0.36
Operating Expenses	4.05	1.85	0.86	0.51	0.36
Operating Income	-5.35	3.25	2.64	2.12	0.76
Interest Expense	-0.51	-0.29	-0.18	-0.07	-0.09
Other Non Operating Income (Expenses)	0.05	0.02	0.02	0.01	0.01
EBT Excluding Unusual Items	-5.81	2.98	2.48	2.05	0.68
Gain (Loss) on Sale of Assets	-	-	-	-	0
Other Unusual Items	-	-	0.77	0.07	0.68
Pretax Income	-5.81	2.98	3.26	2.12	1.36
Income Tax Expense	-0.08	0.65	0.47	0.32	0.09
Net Income	-5.73	2.33	2.79	1.8	1.27
Net Income to Common	-5.73	2.33	2.79	1.8	1.27
Net Income Growth	-	-16.53%	54.55%	41.70%	-
Shares Outstanding (Basic)	12	11	11	8	8
Shares Outstanding (Diluted)	12	11	11	8	8
Shares Change (YoY)	5.33%	-	38.26%	1.40%	-
EPS (Basic)	-0.48	0.21	0.25	0.22	0.16
EPS (Diluted)	-0.48	0.21	0.25	0.22	0.16
EPS Growth	-	-16.53%	11.78%	39.76%	-
Free Cash Flow	-7.97	1.31	0.78	-0.15	0.64
Free Cash Flow Per Share	-0.67	0.12	0.07	-0.02	0.08
Gross Margin	-3.86%	18.47%	15.98%	18.28%	18.20%
Operating Margin	-15.82%	11.77%	12.07%	14.71%	12.38%
Profit Margin	-16.93%	8.44%	12.75%	12.54%	20.68%
Free Cash Flow Margin	-23.54%	4.75%	3.57%	-1.05%	10.33%
EBITDA	-5.2	3.35	2.72	2.18	0.81
EBITDA Margin	-15.37%	12.16%	12.43%	15.13%	13.14%
D&A For EBITDA	0.15	0.11	0.08	0.06	0.05
EBIT	-5.35	3.25	2.64	2.12	0.76
EBIT Margin	-15.82%	11.77%	12.07%	14.71%	12.38%
Effective Tax Rate	-	21.81%	14.40%	14.95%	6.63%

Updated Mar 21, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q