Ming Shing Group Holdings Limited (MSW)

Ming Shing Group Holdings Income Statement

Financials in millions USD. 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
Revenue	24.87	33.85	27.57	21.87	14.38	6.15
Revenue Growth (YoY)	-21.70%	22.77%	26.09%	52.03%	133.73%	-
Cost of Revenue	31.35	35.16	22.48	18.37	11.76	5.03
Gross Profit	-6.47	-1.31	5.09	3.49	2.63	1.12
Selling, General & Admin	4.03	4.05	1.85	0.86	0.51	0.36
Total Operating Expenses	4.03	4.05	1.85	0.86	0.51	0.36
Operating Income	-10.5	-5.35	3.25	2.64	2.12	0.76
Total Non-Operating Income (Expense)	-0.4	-0.46	-0.27	0.62	0	0.6
Pretax Income	-10.9	-5.81	2.98	3.26	2.12	1.36
Provision for Income Taxes	-0.58	-0.08	0.65	0.47	0.32	0.09
Net Income	-10.32	-5.73	2.33	2.79	1.8	1.27
Net Income to Common	-10.32	-5.73	2.33	2.79	1.8	1.27
Net Income Growth	-	-	-16.53%	54.55%	41.70%	-
Shares Outstanding (Basic)	13	12	11	11	8	6
Shares Outstanding (Diluted)	13	12	11	11	8	6
Shares Change (YoY)	12.99%	5.33%	-	38.26%	44.66%	-
EPS (Basic)	-0.85	-0.48	0.21	0.25	0.22	0.23
EPS (Diluted)	-0.85	-0.48	0.21	0.25	0.22	0.23
EPS Growth	-	-	-16.00%	13.64%	-4.35%	-
Shares Outstanding	12.98	12.98	-	-	-	-
Free Cash Flow	-7.85	-7.97	1.31	0.78	-0.15	0.64
Free Cash Flow Growth	-	-	67.95%	-	-	-
Free Cash Flow Per Share	-0.62	-0.67	0.12	0.07	-0.02	0.11
Gross Margin	-26.03%	-3.86%	18.47%	15.98%	18.28%	18.20%
Operating Margin	-42.22%	-15.82%	11.77%	12.07%	14.71%	12.39%
Profit Margin	-41.49%	-16.93%	8.44%	12.75%	12.54%	20.68%
FCF Margin	-31.56%	-23.54%	4.75%	3.57%	-1.05%	10.34%
EBITDA	-10.35	-5.2	3.35	2.72	2.18	0.81
EBITDA Margin	-41.61%	-15.37%	12.16%	12.43%	15.13%	13.14%
EBIT	-10.5	-5.35	3.25	2.64	2.12	0.76
EBIT Margin	-42.22%	-15.82%	11.77%	12.07%	14.71%	12.39%
Effective Tax Rate	5.31%	1.38%	21.81%	14.40%	14.95%	6.63%

Updated Sep 30, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q