Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Trade-Wings
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 + | 58.68 | 65.86 | 52.23 | 61.99 | 62.35 | 65.86 | 52.47 | 67.58 | 63.49 | 67.60 | 58.90 | 67.12 | 68.49 |
| Expenses + | 55.26 | 65.22 | 53.44 | 59.66 | 60.73 | 66.95 | 54.18 | 65.35 | 60.56 | 68.47 | 61.38 | 66.17 | 66.71 |
| Operating Profit | 3.42 | 0.64 | -1.21 | 2.33 | 1.62 | -1.09 | -1.71 | 2.23 | 2.93 | -0.87 | -2.48 | 0.95 | 1.78 |
| OPM % | 5.83% | 0.97% | -2.32% | 3.76% | 2.60% | -1.66% | -3.26% | 3.30% | 4.61% | -1.29% | -4.21% | 1.42% | 2.60% |
| Other Income + | 0.49 | 1.40 | 1.02 | 1.07 | 1.63 | 1.32 | 1.19 | 1.66 | 2.23 | 2.25 | 2.08 | 2.25 | 1.91 |
| Interest | 0.63 | 0.84 | 0.81 | 0.82 | 0.95 | 0.68 | 0.70 | 0.71 | 0.88 | 0.68 | 0.93 | 1.39 | 0.87 |
| Depreciation | 0.29 | 0.27 | 0.45 | 0.36 | 0.41 | 0.63 | 0.10 | 0.36 | 1.07 | 0.55 | 0.61 | 0.60 | 0.52 |
| Profit before tax | 2.99 | 0.93 | -1.45 | 2.22 | 1.89 | -1.08 | -1.32 | 2.82 | 3.21 | 0.15 | -1.94 | 1.21 | 2.30 |
| Tax % | -12.71% | 0.00% | 0.00% | 0.00% | 24.34% | 0.00% | 0.00% | 0.00% | -5.92% | 0.00% | 0.00% | 0.00% | -29.13% |
| Net Profit + | 3.37 | 0.92 | -1.46 | 2.22 | 1.43 | -1.08 | -1.32 | 2.81 | 3.39 | 0.16 | -1.94 | 1.21 | 2.96 |
| EPS in Rs | 11.23 | 3.07 | -4.87 | 7.40 | 4.77 | -3.60 | -4.40 | 9.37 | 11.30 | 0.53 | -6.47 | 4.03 | 9.87 |
Financials of Trade-Wings
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 + | 37 | 40 | 298 | 290 | 307 | 248 | 37 | 87 | 214 | 242 | 249 | 262 |
| Expenses + | 34 | 36 | 299 | 291 | 306 | 249 | 41 | 88 | 210 | 239 | 247 | 263 |
| Operating Profit | 3 | 4 | -2 | -1 | 0 | -2 | -3 | -1 | 4 | 4 | 2 | -1 |
| OPM % | 8% | 9% | -1% | -0% | 0% | -1% | -8% | -1% | 2% | 2% | 1% | -0% |
| Other Income + | 2 | 1 | 7 | 6 | 7 | 5 | 2 | 3 | 4 | 5 | 6 | 8 |
| Interest | 3 | 3 | 3 | 4 | 5 | 4 | 4 | 4 | 4 | 4 | 3 | 4 |
| Depreciation | 2 | 1 | 1 | 1 | 2 | 2 | 1 | 1 | 1 | 2 | 2 | 2 |
| Profit before tax | -0 | 0 | 1 | 0 | 1 | -2 | -6 | -3 | 3 | 4 | 4 | 2 |
| Tax % | -17% | 11% | 31% | 21% | 16% | 7% | 13% | 8% | -13% | 13% | -5% | -39% |
| Net Profit + | -0 | 0 | 0 | 0 | 1 | -2 | -7 | -3 | 3 | 3 | 4 | 2 |
| EPS in Rs | -0.63 | 1.33 | 1.47 | 1.30 | 4.17 | -5.63 | -24.10 | -10.50 | 11.10 | 10.37 | 12.67 | 7.97 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Financials of Trade-Wings
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 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| Reserves | -12 | -11 | -11 | -11 | -10 | -12 | -19 | -22 | -20 | -18 | -14 | -16 |
| Borrowings + | 15 | 18 | 24 | 30 | 33 | 24 | 25 | 23 | 24 | 25 | 24 | 18 |
| Other Liabilities + | 43 | 45 | 44 | 45 | 40 | 49 | 52 | 53 | 48 | 43 | 44 | 54 |
| Total Liabilities | 49 | 55 | 60 | 68 | 66 | 64 | 60 | 56 | 55 | 54 | 57 | 60 |
| Fixed Assets + | 21 | 20 | 21 | 24 | 25 | 27 | 26 | 24 | 23 | 25 | 24 | 23 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 2 | 0 | 1 | 2 | 2 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets + | 28 | 33 | 39 | 43 | 39 | 35 | 35 | 31 | 32 | 28 | 33 | 36 |
| Total Assets | 49 | 55 | 60 | 68 | 66 | 64 | 60 | 56 | 55 | 54 | 57 | 60 |
Financials of Trade-Wings
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 + | 6 | 3 | 7 | 3 | 3 | 5 | 3 | 3 | 5 | 5 | 7 | |
| Cash from Investing Activity + | -4 | -1 | -2 | -4 | -2 | -2 | 1 | 0 | -0 | -3 | -1 | |
| Cash from Financing Activity + | -2 | -3 | -3 | 0 | -2 | -3 | -3 | -4 | -4 | -3 | -3 | |
| Net Cash Flow | -0 | -0 | 1 | -1 | -1 | 0 | 1 | -0 | 1 | -2 | 3 | |
| Free Cash Flow | 2 | 2 | 4 | -1 | 0 | 3 | 4 | 3 | 5 | 2 | 6 | |
| CFO/OP | 198% | 91% | -407% | -344% | 804% | -371% | -68% | -496% | 125% | 134% | 306% |
Financials of Trade-Wings
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 | 169 | 186 | 30 | 30 | 29 | 31 | 141 | 83 | 35 | 28 | 32 | |
| Inventory Days | 297 | 4 | 6 | 4 | 4 | 23 | 8 | 3 | ||||
| Days Payable | 2,239 | 22 | 24 | 24 | 17 | 131 | 75 | 30 | ||||
| Cash Conversion Cycle | -1,773 | 186 | 11 | 12 | 9 | 18 | 33 | 17 | 8 | 28 | 32 | |
| Working Capital Days | -208 | -173 | -26 | -25 | -16 | -24 | -179 | -68 | -28 | -26 | -28 | |
| ROCE % | 33% | 46% | 29% | 22% | 25% | 11% | -21% | 10% | 137% | 82% | 56% |
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