Income Statement Master Trust Limited Bombay S.E.

Stocks

MASTERTR

INE677D01037

Investment Banking & Brokerage Services

Market Closed - Bombay S.E. 06:02:28 2026-10-08 EDT			5-day change	1st Jan Change
82.40 ^INR	-0.63%		+1.25%	-30.64%

08-04	Master Trust Limited Reports Earnings Results for the First Quarter Ended June 30, 2026	CI
05-12	Master Trust Limited Reports Earnings Results for the Fourth Quarter and Full Year Ended March 31, 2026	CI

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Published financial data: MASTER TRUST LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2022 (INR)	2023 (INR)	2024 (INR)	2025 (INR)	2026 (INR)
Interest and Dividend Income, Total	664M	788M	1.26B	1.62B	1.67B
Interest Expense, Total	338M	292M	514M	553M	526M
Net Interest Income	327M	496M	746M	1.07B	1.14B
Brokerage Commission	1.59B	1.5B	1.85B	1.97B	1.58B
Trading and Principal Transactions	1.06B	1.11B	1.87B	2.25B	2.51B
Asset Management Fee	-	-	-	-	-
Gain (Loss) on Sale of Investments, Total (Rev)	-	-	18.21M	-	-
Other Revenues, Total	860K	1.45M	1.6M	1.62M	750K
Revenues Before Provison For Loan Losses	2.98B	3.1B	4.49B	5.29B	5.23B
Total Revenues	2.98B	3.1B	4.49B	5.29B	5.23B
Salaries And Other Employee Benefits	694M	564M	862M	863M	1.15B
Cost of Services Provided, Total	34.43M	41.56M	56.57M	66.54M	68.14M
Depreciation & Amortization - (IS) - (Collected)	19.7M	26.23M	35.94M	37.38M	43.22M
Provision for Bad Debts	11.4M	9.65M	-	1.3M	1.77M
Other Operating Expenses	1.5B	1.61B	2.1B	2.53B	2.25B
Total Operating Expenses	2.26B	2.25B	3.05B	3.5B	3.51B
Operating Income	719M	847M	1.44B	1.79B	1.72B
Other Non Operating Income (Expenses)	-20K	-	-	-	-
EBT, Excl. Unusual Items	719M	847M	1.44B	1.79B	1.72B
Gain (Loss) on Sale of Assets	-	-	-	-	-
EBT, Incl. Unusual Items	719M	847M	1.44B	1.79B	1.72B
Income Tax Expense	168M	188M	357M	475M	464M
Earnings From Continuing Operations	552M	659M	1.08B	1.31B	1.26B
Net Income to Company	552M	659M	1.08B	1.31B	1.26B
Minority Interest	-	-10K	-40K	-30K	-940K
Net Income - (IS)	552M	659M	1.08B	1.31B	1.26B
Net Income to Common Incl Extra Items	552M	659M	1.08B	1.31B	1.26B
Net Income to Common Excl. Extra Items	552M	659M	1.08B	1.31B	1.26B
Per Share Items
Net EPS - Basic	5.07	6.06	9.94	11.81	10.56
Basic EPS - Continuing Operations	5.07	6.06	9.94	11.81	10.56
Basic Weighted Average Shares Outstanding	109M	109M	109M	111M	119M
Net EPS - Diluted	5.07	6.06	9.79	11.21	10.56
Diluted EPS - Continuing Operations	5.07	6.06	9.79	11.21	10.56
Diluted Weighted Average Shares Outstanding	109M	109M	110M	117M	119M
Normalized Basic EPS	4.13	4.87	8.26	10.05	9.03
Normalized Diluted EPS	4.13	4.87	8.14	9.54	9.03
Dividend Per Share	-	-	-	-	-
Payout Ratio	-	-	-	-	-
Supplemental Items
Total Revenues (As Reported)	3.31B	3.39B	5.01B	5.84B	5.76B
Effective Tax Rate - (Ratio)	23.29	22.21	24.85	26.57	26.9
Total Current Taxes	167M	198M	357M	465M	465M
Total Deferred Taxes	450K	-9.85M	-20K	9.86M	-980K
Normalized Net Income	450M	529M	899M	1.12B	1.08B
Non-Cash Pension Expense	490K	800K	540K	10K	1M

Fiscal Period: March	2022 (INR)	2023 (INR)	2024 (INR)	2025 (INR)	2026 (INR)
Assets
Cash And Equivalents	66.2M	195M	96.89M	447M	876M
Accounts Receivable, Total	557M	496M	1.25B	1.61B	2.66B
Other Receivables	550M	811M	728M	1.43B	298M
Gross Property Plant And Equipment	391M	432M	477M	509M	543M
Accumulated Depreciation	-272M	-294M	-324M	-361M	-403M
Net Property Plant And Equipment	119M	138M	153M	148M	139M
Investment In Debt and Equity Securities	59.46M	61.39M	146M	193M	334M
Other Current Assets, Total	8.73B	10.27B	15.2B	14.56B	17.61B
Deferred Tax Assets Long-Term (Collected)	4.87M	11.3M	24.2M	50K	1.03M
Other Long-Term Assets, Total	195M	315M	250M	1.15B	529M
Total Assets	10.28B	12.3B	17.85B	19.53B	22.44B
Liabilities
Accounts Payable, Total	6.02B	6.67B	10.33B	9.33B	10.69B
Accrued Expenses, Total	40.48M	36M	71.62M	56.12M	95.06M
Short-Term Borrowings	231M	741M	264M	748M	927M
Current Portion of Long-Term Debt	-	-	877M	1.82B	1.34B
Long-Term Debt	736M	850M	733M	8.42M	9.92M
Current Income Taxes Payable	1.34M	1.13M	29.18M	1.5M	31.62M
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	210K	210K	423M	1.07B	-
Pension & Other Post Retirement Benefits	6.28M	8.4M	8.45M	8.69M	10.47M
Deferred Tax Liability Non-Current	-	-	-	-	-
Other Non Current Liabilities	245M	328M	52M	85.61M	1.15B
Total Liabilities	7.28B	8.63B	12.79B	13.13B	14.26B
Common Stock, Total	109M	109M	109M	112M	123M
Additional Paid In Capital	460M	460M	460M	702M	1.44B
Retained Earnings	2.42B	3.06B	4.14B	5.38B	6.63B
Comprehensive Income and Other	13.02M	22.56M	336M	193M	-30.12M
Total Common Equity	3B	3.65B	5.04B	6.38B	8.17B
Minority Interest	-	16.3M	16.34M	16.37M	17.05M
Total Equity	3B	3.67B	5.06B	6.4B	8.19B
Total Liabilities And Equity	10.28B	12.3B	17.85B	19.53B	22.44B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	109M	109M	109M	112M	123M
ECS Total Common Shares Outstanding	109M	109M	109M	112M	123M
Book Value / Share	27.57	33.56	46.36	56.85	66.41
Tangible Book Value	3B	3.65B	5.04B	6.38B	8.17B
Tangible Book Value Per Share	27.57	33.56	46.36	56.85	66.41
Total Debt	967M	1.59B	1.87B	2.58B	2.28B
Debt Equivalent of Unfunded Proj. Benefit Obligation	4.8M	7.01M	6.17M	6.95M	10.22M
Net Debt	901M	1.4B	1.78B	2.13B	1.4B
Equity Method Investments, Total	7.43M	60K	60K	-	-
Full Time Employees	10	10	1.32K	1.2K	1.38K

Fiscal Period: March	2022 (INR)	2023 (INR)	2024 (INR)	2025 (INR)	2026 (INR)
Net Income	552M	659M	1.08B	1.31B	1.26B
Depreciation, Depletion & Amortization	19.7M	26.23M	35.95M	37.38M	43.22M
Total Depreciation, Depletion & Amortization	19.7M	26.23M	35.95M	37.38M	43.22M
(Gain) Loss On Sale of Asset - (CF)	-710K	-750K	-880K	-620K	-120K
(Gain) Loss on Sale of Investments - (CF)	-205M	-46.31M	-18.22M	-183M	-75.93M
Provision for Credit Losses	1.39M	-1.39M	-	-	-
Provision and Write-off of Bad Debts	-	-	-	1.3M	1.77M
Change in Accounts Receivable	102M	61.04M	-754M	-356M	-237M
Change In Inventories	-195M	147M	-57.34M	40.41M	102M
Change in Accounts Payable	2.01B	647M	3.66B	-999M	538M
Change in Other Net Operating Assets (Collected)	-2.44B	-1.38B	547M	-206M	1.75B
Other Operating Activities	2M	-7.94M	80.34M	-17.55M	32.49M
Cash from Operations	-153M	103M	4.58B	-371M	3.41B
Capital Expenditure	-39.68M	-46.76M	-50.74M	-34.85M	-34.47M
Sale of Property, Plant, and Equipment	1.42M	1.81M	900K	3.07M	120K
Sale (Purchase) of Real Estate Properties (Collected)	-10.63M	-	-	-	-
Investment in Marketable and Equity Securities, Total	109M	70.52M	-210K	-690K	-104M
Other Investing Activities, Total	-	-	-4.88B	570M	-3.11B
Cash from Investing	59.9M	25.57M	-4.93B	537M	-3.25B
Long-Term Debt Repaid, Total	-	-	-	-	-301M
Total Debt Repaid	-	-	-	-	-301M
Common Dividends Paid	-	-	-	-	-
Common & Preferred Stock Dividends Paid	-	-	-	-	-
Other Financing Activities, Total	-	-	249M	184M	564M
Cash from Financing	-	-	249M	184M	264M
Net Change in Cash	-93.46M	129M	-97.88M	350M	429M
Supplemental Items
Cash Interest Paid	10.59M	7.87M	38.23M	31.57M	49.74M
Cash Income Tax Paid (Refund)	166M	198M	329M	493M	435M
Net Debt Issued / Repaid	-	-	-	-	-301M

Fiscal Period: March	2022 (INR)	2023 (INR)	2024 (INR)	2025 (INR)	2026 (INR)
Profitability
Return on Assets	6.09	5.84	7.16	6.87	6.01
Return On Equity %	19.87	19.77	24.77	22.91	17.29
Return on Common Equity	19.87	19.82	24.87	22.97	17.32
Margin Analysis
Gross Profit Margin %	100	100	100	100	100
SG&A Margin	24.48	19.54	20.45	17.58	23.22
Income From Continuing Operations Margin %	18.54	21.25	24.06	24.82	24.1
Net Income Margin %	18.54	21.25	24.06	24.82	24.08
Net Avail. For Common Margin %	18.54	21.25	24.06	24.82	24.08
Normalized Net Income Margin	15.11	17.07	20.01	21.13	20.58
Asset Turnover
Asset Turnover	0.33	0.27	0.3	0.28	0.25
Short Term Liquidity
Current Ratio	1.57	1.58	1.44	1.39	1.64
Quick Ratio	0.19	0.2	0.17	0.27	0.29
Operating Cash Flow to Current Liabilities	-0.02	0.01	0.38	-0.03	0.26
Long Term Solvency
Total Debt/Equity	32.25	43.39	37.05	40.31	27.84
Total Debt / Total Capital	24.39	30.26	27.03	28.73	21.77
LT Debt/Equity	24.56	23.18	14.49	0.13	0.12
Long-Term Debt / Total Capital	18.57	16.17	10.57	0.09	0.09
Total Liabilities / Total Assets	70.82	70.18	71.65	67.23	63.52
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	44.27	4.19	44.85	17.71	-1.02
Gross Profit, 1 Yr. Growth %	44.27	4.19	44.85	17.71	-1.02
Earnings From Cont. Operations, 1 Yr. Growth %	60.53	19.42	64.04	21.42	-3.92
Net Income, 1 Yr. Growth %	60.53	19.41	64.04	21.42	-3.99
Normalized Net Income, 1 Yr. Growth %	67.65	17.75	69.81	24.26	-3.57
Diluted EPS Before Extra, 1 Yr. Growth %	60.51	19.43	61.55	14.5	-5.8
Common Equity, 1 Yr. Growth %	17.33	21.73	38.15	26.57	27.99
Total Assets, 1 Yr. Growth %	30.82	19.64	44.77	4.67	14.92
Tangible Book Value, 1 Yr. Growth %	17.33	21.73	38.15	26.57	27.99
Cash From Operations, 1 Yr. Growth %	-37.36	-167.16	158.95	-108.1	-417.15
Capital Expenditures, 1 Yr. Growth %	143.44	17.84	8.51	-31.32	-1.09
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	58.54	22.6	22.85	30.58	7.94
Gross Profit, 2 Yr. CAGR %	58.54	22.6	22.85	30.58	7.94
Earnings From Cont. Operations, 2 Yr. CAGR %	111.71	38.45	39.96	41.13	8.01
Net Income, 2 Yr. CAGR %	111.72	38.45	39.96	41.13	7.97
Normalized Net Income, 2 Yr. CAGR %	131.37	40.5	41.41	45.26	9.46
Diluted EPS Before Extra, 2 Yr. CAGR %	111.7	38.46	38.9	36.03	3.86
Common Equity, 2 Yr. CAGR %	18.31	19.51	29.68	32.23	27.28
Total Assets, 2 Yr. CAGR %	35.78	25.11	31.78	25.86	9.68
Tangible Book Value, 2 Yr. CAGR %	18.31	19.51	29.68	32.23	27.28
Cash From Operations, 2 Yr. CAGR %	4.22	-35.14	446.4	-54.21	-13.67
Capital Expenditures, 2 Yr. CAGR %	59.95	69.37	13.08	-13.67	-17.58
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	34.8	37.84	29.61	21.11	19.06
Gross Profit, 3 Yr. CAGR %	34.8	37.84	29.61	21.11	19.06
Earnings From Cont. Operations, 3 Yr. CAGR %	48.82	74.92	46.51	33.49	24.15
Net Income, 3 Yr. CAGR %	49.16	74.93	46.5	33.49	24.12
Normalized Net Income, 3 Yr. CAGR %	54.92	84.73	49.66	35.44	26.72
Diluted EPS Before Extra, 3 Yr. CAGR %	49.17	74.93	45.76	30.26	20.35
Common Equity, 3 Yr. CAGR %	13.21	19.44	25.43	28.64	30.8
Total Assets, 3 Yr. CAGR %	21.42	30.17	31.46	23.86	22.1
Tangible Book Value, 3 Yr. CAGR %	13.21	19.44	25.43	28.64	30.8
Cash From Operations, 3 Yr. CAGR %	-42.81	-9.98	165.44	34.22	24.5
Capital Expenditures, 3 Yr. CAGR %	3.28	44.46	46.01	-4.23	-9.67
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	25.49	17.56	29.89	34.89	20.46
Gross Profit, 5 Yr. CAGR %	25.49	17.56	29.89	34.89	20.46
Earnings From Cont. Operations, 5 Yr. CAGR %	56.75	45.58	45.21	60.53	29.69
Net Income, 5 Yr. CAGR %	56.78	45.68	45.41	60.53	29.67
Normalized Net Income, 5 Yr. CAGR %	52.34	45.57	49.37	67.79	32.06
Diluted EPS Before Extra, 5 Yr. CAGR %	56.77	45.69	44.98	58.19	27.29
Common Equity, 5 Yr. CAGR %	11.16	14.51	19.53	24.4	26.16
Total Assets, 5 Yr. CAGR %	17.22	20.13	25.46	28.5	23.36
Tangible Book Value, 5 Yr. CAGR %	11.16	14.51	19.53	24.4	26.16
Cash From Operations, 5 Yr. CAGR %	-21.56	34.36	41.05	21.3	69.37
Capital Expenditures, 5 Yr. CAGR %	35.4	17.1	7.09	17.58	16.16
Dividend Per Share, 5 Yr. CAGR %	-	-	-	-	-