Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Paul Merchants
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 1,697.61 | 1,835.98 | 1,839.25 | 2,090.40 | 853.88 | 1,015.90 | 986.28 | 750.04 | 582.46 | 493.30 | 593.41 | 504.79 | 482.12 |
| Expenses + | 1,679.43 | 1,808.63 | 1,809.89 | 2,057.63 | 859.54 | 1,016.37 | 987.50 | 752.69 | 585.43 | 497.46 | 601.15 | 507.95 | 482.54 |
| Operating Profit | 18.18 | 27.35 | 29.36 | 32.77 | -5.66 | -0.47 | -1.22 | -2.65 | -2.97 | -4.16 | -7.74 | -3.16 | -0.42 |
| OPM % | 1.07% | 1.49% | 1.60% | 1.57% | -0.66% | -0.05% | -0.12% | -0.35% | -0.51% | -0.84% | -1.30% | -0.63% | -0.09% |
| Other Income + | 0.56 | 1.04 | 1.53 | 3.03 | 17.05 | 15.66 | 19.60 | 21.82 | 21.07 | 293.82 | 7.38 | -6.92 | 6.18 |
| Interest | 6.62 | 8.73 | 10.15 | 11.48 | 0.69 | 0.28 | 0.66 | 0.49 | 0.53 | 0.53 | 0.24 | 0.16 | 0.16 |
| Depreciation | 1.17 | 1.20 | 1.35 | 1.65 | 1.56 | 0.73 | 1.05 | 0.96 | 1.07 | 0.83 | 1.42 | 1.61 | 1.61 |
| Profit before tax | 10.95 | 18.46 | 19.39 | 22.67 | 9.14 | 14.18 | 16.67 | 17.72 | 16.50 | 288.30 | -2.02 | -11.85 | 3.99 |
| Tax % | 22.92% | 25.95% | 25.06% | 24.61% | -2.08% | 6.14% | 3.42% | -0.06% | -1.15% | 0.29% | 227.72% | 21.43% | 41.60% |
| Net Profit + | 8.43 | 13.67 | 14.53 | 17.09 | 9.34 | 13.32 | 16.10 | 17.72 | 16.69 | 287.46 | -6.61 | -14.40 | 2.29 |
| EPS in Rs | 27.19 | 44.10 | 46.87 | 55.42 | 30.29 | 43.19 | 52.20 | 57.46 | 54.12 | 932.10 | -21.43 | -46.69 | 7.43 |
Financials of Paul Merchants
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 2,165 | 2,466 | 2,891 | 4,553 | 4,928 | 5,405 | 3,041 | 5,367 | 7,012 | 6,506 | 3,336 | 2,074 |
| Expenses + | 2,138 | 2,433 | 2,881 | 4,529 | 4,901 | 5,363 | 2,991 | 5,300 | 6,929 | 6,497 | 3,343 | 2,089 |
| Operating Profit | 27 | 32 | 10 | 25 | 27 | 42 | 51 | 68 | 83 | 9 | -7 | -15 |
| OPM % | 1% | 1% | 0% | 1% | 1% | 1% | 2% | 1% | 1% | 0% | -0% | -1% |
| Other Income + | 3 | 5 | 11 | 201 | 2 | -0 | 1 | 1 | 1 | 59 | 78 | 300 |
| Interest | 4 | 3 | 2 | 2 | 1 | 2 | 5 | 11 | 20 | 2 | 2 | 1 |
| Depreciation | 3 | 3 | 3 | 4 | 3 | 3 | 3 | 3 | 4 | 3 | 4 | 5 |
| Profit before tax | 24 | 31 | 16 | 220 | 24 | 36 | 44 | 54 | 60 | 62 | 65 | 278 |
| Tax % | 35% | 35% | 23% | 3% | 8% | 26% | 23% | 26% | 26% | 12% | 2% | 3% |
| Net Profit + | 15 | 20 | 13 | 214 | 22 | 26 | 33 | 40 | 44 | 55 | 64 | 269 |
| EPS in Rs | 49.29 | 65.71 | 41.35 | 688.58 | 71.23 | 85.06 | 107.90 | 129.58 | 141.97 | 177.14 | 207.00 | 871.40 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 1% | 0% | 0% | 0% | 0% | 0% | 0% |
Financials of Paul Merchants
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 3 | 3 | 3 |
| Reserves | 117 | 138 | 148 | 363 | 366 | 392 | 426 | 466 | 510 | 562 | 626 | 894 |
| Borrowings + | 21 | 24 | 18 | 22 | 17 | 33 | 80 | 132 | 307 | 493 | 24 | 10 |
| Other Liabilities + | 59 | 56 | 60 | 87 | 21 | 29 | 29 | 51 | 72 | 98 | 938 | 33 |
| Total Liabilities | 198 | 218 | 228 | 473 | 405 | 455 | 535 | 649 | 890 | 1,156 | 1,591 | 940 |
| Fixed Assets + | 44 | 54 | 50 | 76 | 76 | 64 | 63 | 63 | 67 | 72 | 62 | 135 |
| CWIP | 2 | 1 | 1 | 0 | 0 | 0 | 1 | 0 | 1 | 0 | 0 | 0 |
| Investments | 0 | 5 | 9 | 123 | 99 | 55 | 37 | 30 | 24 | 22 | 2 | 306 |
| Other Assets + | 152 | 158 | 167 | 274 | 231 | 336 | 434 | 555 | 799 | 1,063 | 1,526 | 499 |
| Total Assets | 198 | 218 | 228 | 473 | 405 | 455 | 535 | 649 | 890 | 1,156 | 1,591 | 940 |
Financials of Paul Merchants
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 108 | 21 | 18 | -276 | 13 | -83 | -69 | -38 | -154 | -135 | 448 | |
| Cash from Investing Activity + | -22 | -16 | 1 | 241 | -25 | 73 | 23 | 6 | 0 | -5 | 17 | |
| Cash from Financing Activity + | -76 | -2 | -5 | 2 | -6 | 13 | 42 | 41 | 155 | 143 | -471 | |
| Net Cash Flow | 11 | 2 | 14 | -34 | -18 | 4 | -4 | 9 | 2 | 3 | -6 | |
| Free Cash Flow | 85 | 8 | 15 | -41 | 10 | -76 | -71 | -41 | -162 | -146 | 444 | |
| CFO/OP | 429% | 99% | 393% | -857% | 66% | -178% | -115% | -36% | -167% | -1,273% | -6,754% |
Financials of Paul Merchants
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 8 | 6 | 4 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 |
| Inventory Days | 1 | 1 | 1 | 0 | 0 | 1 | 1 | 0 | 1 | 1 | 1 | 4 |
| Days Payable | 7 | 5 | 3 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Cash Conversion Cycle | 2 | 2 | 2 | 1 | 0 | 1 | 1 | 1 | 1 | 1 | 2 | 5 |
| Working Capital Days | 1 | 1 | -1 | 3 | 12 | 20 | 47 | 33 | 36 | 52 | 1 | 78 |
| ROCE % | 23% | 11% | 80% | 6% | 10% | 10% | 12% | 11% | -5% | -10% | 3% |
Despite competitive intensity, Muthoot Finance has demonstrated growth; Q1 saw about 6% growth (~INR 9,000 crores). Key concall takeaways from Muthoot Finance…
The company has already seen wheels AUM growth at 11%-12% and non-wheels at 28%-30% in recent quarters. Key concall takeaways from Mahindra & Mahindra…
Personal loans are growing fastest, with 5%-10% month-on-month growth. Key concall takeaways from Akiko Global Services Ltd's Q1 FY27 earnings call — and how…
Care Homes occupancy is improving steadily (e.g., Bannerghatta from 37% to 41%), with potential expansion plans in late FY27. Key concall takeaways from Max…