Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Minal Industries
Quarter-by-quarter operating performance
| Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 6.38 | 11.71 | 5.79 | 4.74 | 14.81 | 12.51 | 12.31 | 10.77 | 8.87 | 19.16 | 10.04 | 8.90 | 8.71 |
| Expenses + | -0.51 | 12.26 | 8.47 | 8.78 | 7.72 | 12.07 | 11.63 | 10.57 | 9.82 | 16.47 | 9.30 | 10.08 | 9.89 |
| Operating Profit | 6.89 | -0.55 | -2.68 | -4.04 | 7.09 | 0.44 | 0.68 | 0.20 | -0.95 | 2.69 | 0.74 | -1.18 | -1.18 |
| OPM % | 107.99% | -4.70% | -46.29% | -85.23% | 47.87% | 3.52% | 5.52% | 1.86% | -10.71% | 14.04% | 7.37% | -13.26% | -13.55% |
| Other Income + | -0.46 | 1.80 | 1.45 | 0.21 | -1.31 | -2.12 | 0.15 | 0.23 | 0.87 | -0.22 | 0.18 | 0.58 | 0.34 |
| Interest | 0.34 | 0.72 | 0.26 | 0.23 | -0.32 | 0.03 | 0.03 | 0.03 | 0.04 | 0.07 | 0.02 | -0.01 | 0.02 |
| Depreciation | 0.16 | 0.20 | 0.07 | 0.11 | 0.22 | 0.12 | 0.13 | 0.14 | 0.14 | 0.13 | 0.14 | 0.14 | 0.14 |
| Profit before tax | 5.93 | 0.33 | -1.56 | -4.17 | 5.88 | -1.83 | 0.67 | 0.26 | -0.26 | 2.27 | 0.76 | -0.73 | -1.00 |
| Tax % | 3.37% | 6.06% | 0.64% | 3.36% | -1.19% | 16.94% | 41.79% | -11.54% | -96.15% | -0.88% | 10.53% | -2.74% | 0.00% |
| Net Profit + | 5.73 | 0.32 | -1.58 | -4.31 | 5.95 | -2.13 | 0.40 | 0.29 | -0.01 | 2.30 | 0.68 | -0.71 | -1.00 |
| EPS in Rs | 0.15 | 0.01 | -0.04 | -0.11 | 0.15 | -0.15 | 0.02 | -0.01 | 0.03 | 0.05 | 0.03 | -0.02 | -0.03 |
Financials of Minal Industries
Annual income statement trend
| Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 111.56 | 16.32 | 0.08 | 4.04 | 0.01 | 40.25 | 36.15 | 14.00 | 28.24 | 26.80 | 37.85 | 51.12 | 46.81 |
| Expenses + | 111.43 | 15.97 | 0.63 | 7.04 | 16.51 | 41.37 | 45.61 | 19.41 | 28.40 | 27.05 | 37.05 | 47.26 | 45.74 |
| Operating Profit | 0.13 | 0.35 | -0.55 | -3.00 | -16.50 | -1.12 | -9.46 | -5.41 | -0.16 | -0.25 | 0.80 | 3.86 | 1.07 |
| OPM % | 0.12% | 2.14% | -687.50% | -74.26% | -165,000.00% | -2.78% | -26.17% | -38.64% | -0.57% | -0.93% | 2.11% | 7.55% | 2.29% |
| Other Income + | 0.15 | -0.26 | 0.23 | 0.01 | 7.51 | 1.43 | 3.25 | 1.28 | 2.30 | 2.34 | -1.76 | 1.04 | 0.88 |
| Interest | 0.05 | 0.01 | 0.01 | 0.02 | 0.01 | 0.51 | 0.46 | 0.27 | 0.41 | 1.70 | 0.20 | 0.17 | 0.10 |
| Depreciation | 0.07 | 0.07 | 0.05 | 0.15 | 0.07 | -0.86 | 0.78 | 0.75 | 0.73 | 0.68 | 0.53 | 0.55 | 0.55 |
| Profit before tax | 0.16 | 0.01 | -0.38 | -3.16 | -9.07 | 0.66 | -7.45 | -5.15 | 1.00 | -0.29 | -1.69 | 4.18 | 1.30 |
| Tax % | 56.25% | 500.00% | 2.63% | -1.90% | 0.44% | 50.00% | -0.54% | -7.18% | 33.00% | 6.90% | 23.08% | -0.72% | |
| Net Profit + | 0.07 | -0.04 | -0.39 | -3.09 | -9.11 | 0.33 | -7.41 | -4.78 | 0.67 | -0.31 | -2.08 | 4.21 | 1.27 |
| EPS in Rs | 0.01 | -0.00 | -0.02 | -0.16 | -0.47 | 0.00 | -0.27 | -0.11 | 0.02 | 0.02 | -0.15 | 0.08 | 0.03 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Financials of Minal Industries
Capital structure and asset base
| Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 14.38 | 38.38 | 38.38 | 38.38 | 38.38 | 38.38 | 38.38 | 38.38 | 38.38 | 38.38 | 38.38 | 38.38 | 38.38 |
| Reserves | 83.73 | 61.42 | 63.93 | 62.00 | 54.78 | 21.71 | 16.84 | 14.68 | 15.27 | 16.39 | 15.05 | 14.86 | 15.04 |
| Borrowings + | 0.07 | 0.41 | 0.40 | 0.35 | 0.35 | 20.76 | 19.01 | 18.97 | 9.12 | 11.82 | 13.24 | 8.24 | 8.34 |
| Other Liabilities + | 439.14 | 466.17 | 509.77 | 530.73 | 8.77 | 22.83 | 14.76 | 11.30 | 9.92 | 17.65 | 24.48 | 23.68 | 23.16 |
| Total Liabilities | 537.32 | 566.38 | 612.48 | 631.46 | 102.28 | 103.68 | 88.99 | 83.33 | 72.69 | 84.24 | 91.15 | 85.16 | 84.92 |
| Fixed Assets + | 1.43 | 1.37 | 1.32 | 1.22 | 1.15 | 4.47 | 5.75 | 5.02 | 4.48 | 4.19 | 3.86 | 3.77 | 3.55 |
| CWIP | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 25.72 | 25.71 | 20.68 | 20.59 | 12.16 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Assets + | 510.17 | 539.30 | 590.48 | 609.65 | 88.97 | 99.21 | 83.24 | 78.31 | 68.21 | 80.05 | 87.29 | 81.39 | 81.37 |
| Total Assets | 537.32 | 566.38 | 612.48 | 631.46 | 102.28 | 103.68 | 88.99 | 83.33 | 72.69 | 84.24 | 91.15 | 85.16 | 84.92 |
Financials of Minal Industries
Operating, investing and financing cash movement
| Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | -18.64 | -1.85 | -8.14 | 0.00 | 0.00 | 1.98 | -3.30 | 4.90 | -17.47 | -2.45 | -1.05 | 4.03 |
| Cash from Investing Activity + | -9.66 | -0.25 | 5.04 | 0.00 | 0.00 | -0.26 | 0.35 | -3.82 | 27.99 | 1.30 | 0.71 | 0.11 |
| Cash from Financing Activity + | 28.40 | 2.06 | 2.89 | 0.00 | 0.00 | 0.54 | -2.13 | -0.11 | -11.31 | 1.00 | 0.15 | -3.58 |
| Net Cash Flow | 0.10 | -0.04 | -0.21 | 0.00 | 0.00 | 2.25 | -5.08 | 0.97 | -0.79 | -0.14 | -0.19 | 0.56 |
| Free Cash Flow | -18.64 | -1.85 | -8.14 | 0.00 | 0.00 | 1.98 | -1.51 | 4.88 | -17.33 | -2.83 | -1.24 | 3.57 |
| CFO/OP | -14,338% | -517% | 1,480% | 0% | 0% | -183% | 35% | -95% | 11,125% | 968% | -85% | 101% |
Financials of Minal Industries
Working capital efficiency and return ratios
| Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 1,479.24 | 11,099.40 | 2,499,793.75 | 51,402.66 | 2,044,730.00 | 230.24 | 137.92 | 157.21 | 158.46 | 125.71 | 140.41 | 171.58 |
| Inventory Days | 124.91 | 558.84 | 204,400.00 | 1,628.00 | 714.26 | 844.83 | 712.54 | 2,302.63 | 1,117.27 | 1,529.33 | 1,113.89 | 573.16 |
| Days Payable | 1,478.19 | 11,607.00 | 4,649,096.25 | 39,430.41 | 415.67 | 115.99 | 15.80 | 86.67 | 31.59 | 202.10 | 262.39 | 119.36 |
| Cash Conversion Cycle | 125.96 | 51.24 | -1,944,902.50 | 13,600.26 | 2,045,028.59 | 959.08 | 834.66 | 2,373.17 | 1,244.14 | 1,452.94 | 991.90 | 625.37 |
| Working Capital Days | 229.65 | 1,610.07 | 364,087.50 | 7,065.10 | 2,902,115.00 | 562.69 | 592.28 | 1,225.10 | 688.77 | 737.22 | 627.88 | 459.32 |
| ROCE % | 0.29% | -0.36% | -3.09% | -9.33% | -10.17% | -5.99% | 1.89% | 1.97% | 3.53% | 5.97% |
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