Income Statement Modison Limited

Stocks

MODISONLTD

INE737D01021

Iron & Steel

Market Closed - Bombay S.E. 06:20:03 2026-09-04 EDT			5-day change	1st Jan Change
469.60 ^INR	-5.00%		+14.22%	+204.74%

08-13	Modison Limited Reports Earnings Results for the First Quarter Ended June 30, 2026	CI
08-12	Girdhari Lal Modi and Kumar Jay Modi signed a letter of intent to acquire Modison HV Private Limited from Modison Limited for INR 2.8 million.	CI

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Published financial data: MODISON LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2022 (INR)	2023 (INR)	2024 (INR)	2025 (INR)	2026 (INR)
Revenues	3.4B	3.35B	4.05B	4.9B	7.1B
Total Revenues	3.4B	3.35B	4.05B	4.9B	7.1B
Cost of Goods Sold, Total	2.67B	2.64B	3.22B	3.88B	5.31B
Gross Profit	726M	704M	823M	1.02B	1.79B
Selling General & Admin Expenses, Total	189M	207M	215M	252M	277M
Provision for Bad Debts	-	1.94M	-	2.36M	3.82M
Depreciation & Amortization - (IS)	66.08M	63.25M	62.79M	80.14M	96.5M
Other Operating Expenses	232M	249M	281M	310M	322M
Other Operating Expenses, Total	487M	521M	559M	644M	699M
Operating Income	239M	183M	265M	375M	1.09B
Interest Expense, Total	-18.81M	-13.38M	-25.37M	-53.54M	-78.83M
Interest And Investment Income	2.04M	1.43M	2.9M	4.12M	1.27M
Net Interest Expenses	-16.77M	-11.95M	-22.46M	-49.42M	-77.56M
Currency Exchange Gains (Loss)	6.51M	10.68M	-4.3M	13.77M	31.44M
Other Non Operating Income (Expenses)	1.61M	-2.77M	-1.05M	7.4M	-3.71M
EBT, Excl. Unusual Items	230M	179M	237M	346M	1.04B
Gain (Loss) On Sale Of Investments	104K	92K	168K	-	-5.02M
Gain (Loss) On Sale Of Assets	3.01M	-406K	-1.7M	38K	128K
Insurance Settlements	-	-	-	-	17M
Other Unusual Items	-35.37M	-25.62M	55.92M	-10.83M	-83.09M
EBT, Incl. Unusual Items	198M	153M	291M	335M	970M
Income Tax Expense	51.56M	41.61M	77.76M	88.64M	244M
Earnings From Continuing Operations	146M	112M	214M	247M	725M
Net Income to Company	146M	112M	214M	247M	725M
Minority Interest	-	-	-	-	-
Net Income - (IS)	146M	112M	214M	247M	725M
Net Income to Common Incl Extra Items	146M	112M	214M	247M	725M
Net Income to Common Excl. Extra Items	146M	112M	214M	247M	725M
Per Share Items
Net EPS - Basic	4.51	3.44	6.58	7.61	22.35
Basic EPS - Continuing Operations	4.51	3.44	6.58	7.61	22.35
Basic Weighted Average Shares Outstanding	32.45M	32.45M	32.45M	32.45M	32.45M
Net EPS - Diluted	4.51	3.44	6.58	7.61	22.35
Diluted EPS - Continuing Operations	4.51	3.44	6.58	7.61	22.35
Diluted Weighted Average Shares Outstanding	32.45M	32.45M	32.45M	32.45M	32.45M
Normalized Basic EPS	4.43	3.45	4.56	6.67	20.04
Normalized Diluted EPS	4.43	3.45	4.56	6.67	20.04
Dividend Per Share	1	1	2.5	3.5	5.5
Payout Ratio	22.11	-	22.79	46.02	20.13
Supplemental Items
EBITDA	304M	246M	327M	455M	1.19B
EBITA	239M	183M	265M	375M	1.09B
EBIT	239M	183M	265M	375M	1.09B
EBITDAR	305M	247M	328M	455M	1.19B
Total Revenues (As Reported)	3.41B	3.36B	4.05B	4.94B	7.16B
Effective Tax Rate - (Ratio)	26.06	27.13	26.69	26.42	25.18
Total Current Taxes	54.75M	53.66M	71.37M	79.29M	249M
Total Deferred Taxes	-3.18M	-12.05M	6.39M	9.35M	-4.55M
Normalized Net Income	144M	112M	148M	216M	650M
Interest on Long-Term Debt	-	-	-	-	-
Non-Cash Pension Expense	-71K	51K	84K	204K	8.67M
Supplemental Operating Expense Items
Advertising Expense	2.42M	2.06M	2.72M	2.98M	4.44M
Selling and Marketing Expenses	2.42M	2.06M	2.72M	2.98M	4.44M
Research And Development Expense From Footnotes	5.53M	6.58M	7.96M	8.44M	8.34M
Net Rental Expense, Total	545K	435K	424K	424K	410K
Imputed Operating Lease Interest Expense	566K	415K	469K	348K	209K
Imputed Operating Lease Depreciation	-21.02K	19.63K	-44.75K	76.31K	201K
Maintenance & Repair Expenses, Total	10.81M	13.8M	18.34M	22.95M	22.45M

Fiscal Period: March	2022 (INR)	2023 (INR)	2024 (INR)	2025 (INR)	2026 (INR)
Assets
Cash And Equivalents	43.2M	4.79M	5.69M	1.35M	1.41M
Short Term Investments	-	-	2.4M	2.82M	2.32M
Total Cash And Short Term Investments	43.2M	4.79M	8.09M	4.18M	3.74M
Accounts Receivable, Total	579M	527M	662M	861M	1.6B
Other Receivables	3.6M	7.52M	9.92M	9.18M	20.32M
Notes Receivable	-	-	718K	2.54M	2.08M
Total Receivables	583M	535M	673M	873M	1.62B
Inventory	654M	785M	961M	1.27B	2.2B
Other Current Assets, Total	70.38M	38.95M	68.88M	38.17M	160M
Total Current Assets	1.35B	1.36B	1.71B	2.19B	3.98B
Gross Property Plant And Equipment	1.05B	1.17B	1.33B	1.47B	1.57B
Accumulated Depreciation	-357M	-414M	-470M	-548M	-625M
Net Property Plant And Equipment	695M	758M	860M	925M	950M
Long-term Investments	15.05M	17.62M	16.05M	-	577K
Goodwill	-	-	-	-	-
Other Intangibles, Total	726K	373K	226K	2.86M	2.87M
Loans Receivable Long-Term	-	-	-	-	-
Other Long-Term Assets, Total	80.63M	75.63M	125M	74.23M	90.76M
Total Assets	2.14B	2.22B	2.71B	3.19B	5.03B
Liabilities
Accounts Payable, Total	66.87M	91.52M	98.91M	96.45M	156M
Accrued Expenses, Total	36.64M	29.12M	43.5M	53.66M	124M
Short-term Borrowings	174M	50.02M	317M	704M	1.71B
Current Portion of Long-Term Debt	-	-	-	7.75M	14M
Current Income Taxes Payable	2.29M	10.8M	6.3M	7.14M	35.05M
Other Current Liabilities	46.92M	103M	158M	75.59M	158M
Total Current Liabilities	327M	284M	624M	944M	2.2B
Long-Term Debt	-	-	-	16.02M	20.02M
Pension & Other Post Retirement Benefits	13.6M	14.85M	16.1M	18.18M	20.27M
Deferred Tax Liability Non Current	43.26M	31.23M	37.64M	47.02M	42.48M
Other Non Current Liabilities	281K	13.62M	1.02M	896K	660K
Total Liabilities	384M	344M	678M	1.03B	2.28B
Common Stock, Total	32.45M	32.45M	32.45M	32.45M	32.45M
Retained Earnings	1.71B	1.82B	1.98B	2.12B	2.7B
Comprehensive Income and Other	18.11M	19.39M	17.49M	16.29M	17.13M
Total Common Equity	1.76B	1.87B	2.03B	2.17B	2.75B
Minority Interest	-	-	-	-	-
Total Equity	1.76B	1.87B	2.03B	2.17B	2.75B
Total Liabilities And Equity	2.14B	2.22B	2.71B	3.19B	5.03B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	32.45M	32.45M	32.45M	32.45M	32.45M
ECS Total Common Shares Outstanding	32.45M	32.45M	32.45M	32.45M	32.45M
Book Value / Share	54.17	57.66	62.68	66.75	84.64
Tangible Book Value	1.76B	1.87B	2.03B	2.16B	2.74B
Tangible Book Value Per Share	54.15	57.65	62.67	66.66	84.55
Total Debt	174M	50.02M	317M	728M	1.74B
Net Debt	131M	45.22M	309M	723M	1.74B
Debt Equivalent of Unfunded Proj. Benefit Obligation	2.89M	1.94M	4.58M	5.03M	11.62M
Debt Equivalent Oper. Leases	4.36M	3.48M	3.39M	3.39M	3.28M
Minority Interest, Total (Incl. Fin. Div)	-	-	-	-	-
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	78.13M	117M	79.47M	134M	152M
Inventories - Work In Process, Total	531M	616M	843M	1.08B	1.9B
Inventories - Finished Goods, Total	29.2M	26.68M	17.42M	31.73M	90.16M
Inventories - Others	15.28M	26.08M	21.35M	29.21M	51.74M
Land - (BS)	140M	142M	143M	143M	143M
Buildings, Total	162M	174M	266M	359M	364M
Machinery, Total	720M	752M	816M	938M	1.03B
Full Time Employees	257	261	256	-	288
Accumulated Allowance for Doubtful Accounts (Supple)	13.96M	22.26M	21.82M	12.89M	6.35M

Fiscal Period: March	2022 (INR)	2023 (INR)	2024 (INR)	2025 (INR)	2026 (INR)
Net Income	146M	112M	214M	247M	725M
Depreciation & Amortization - CF	65.56M	62.9M	62.64M	80.04M	95.74M
Depreciation & Amortization, Total	65.56M	62.9M	62.64M	80.04M	95.74M
Amortization of Deferred Charges, Total - (CF)	521K	353K	147K	105K	766K
(Gain) Loss From Sale Of Asset	-3.01M	406K	1.53M	-38K	-222K
(Gain) Loss on Sale of Investments - (CF)	-	-93K	-	-	5.12M
Provision and Write-off of Bad Debts	2.98M	10.24M	-448K	-6.57M	-2.72M
Other Operating Activities, Total	77K	34.44M	98K	44.66M	204M
Change In Accounts Receivable	17.95M	46.93M	-133M	-185M	-732M
Change In Inventories	-54.21M	-131M	-176M	-314M	-1.01B
Change In Accounts Payable	7.72M	23.58M	7.29M	1.07M	61.3M
Change in Other Net Operating Assets	-41.97M	65.82M	-14.96M	-28.54M	11.25M
Cash from Operations	142M	225M	-38.86M	-161M	-642M
Capital Expenditure	-126M	-125M	-158M	-155M	-151M
Sale of Property, Plant, and Equipment	14.54M	1.22M	1.98M	419K	1.14M
Cash Acquisitions	-	-	-	-	-
Divestitures	-	-	-	-	100K
Investment in Marketable and Equity Securities, Total	1.8M	-2.19M	2.46M	15.55M	-5.12M
Other Investing Activities, Total	1.89M	-	-	52.48M	399K
Cash from Investing	-107M	-126M	-154M	-86.23M	-154M
Short Term Debt Issued, Total	-	-	267M	-	-
Long-Term Debt Issued, Total	58.36M	-	-	411M	1.02B
Total Debt Issued	58.36M	-	267M	411M	1.02B
Short Term Debt Repaid, Total	-	-124M	-	-	-
Long-Term Debt Repaid, Total	-	-	-	-	-
Total Debt Repaid	-	-124M	-	-	-
Common Dividends Paid	-32.34M	-	-48.68M	-114M	-146M
Common & Preferred Stock Dividends Paid	-32.34M	-	-48.68M	-114M	-146M
Other Financing Activities, Total	-19.41M	-13.36M	-24.65M	-54.07M	-72.85M
Cash from Financing	6.6M	-138M	194M	243M	796M
Miscellaneous Cash Flow Adjustments	-	-	-	-	-
Net Change in Cash	41.08M	-38.41M	894K	-4.34M	62K
Supplemental Items
Cash Interest Paid	19.41M	13.36M	24.65M	54.07M	72.85M
Cash Income Tax Paid (Refund)	67.05M	46M	76.32M	77.52M	221M
Levered Free Cash Flow	-3.3M	74.33M	-217M	-431M	-976M
Unlevered Free Cash Flow	8.45M	82.7M	-202M	-397M	-927M
Change In Net Working Capital	81.18M	-29.64M	271M	557M	1.55B
Net Debt Issued / Repaid	58.36M	-124M	267M	411M	1.02B

Fiscal Period: March	2022 (INR)	2023 (INR)	2024 (INR)	2025 (INR)	2026 (INR)
Profitability
Return on Assets	7.16	5.26	6.72	7.93	16.58
Return on Total Capital	8.08	5.95	7.75	8.93	18.46
Return On Equity %	8.6	6.16	10.94	11.75	29.53
Return on Common Equity	8.6	6.16	10.94	11.75	29.53
Margin Analysis
Gross Profit Margin %	21.39	21.04	20.35	20.78	25.19
SG&A Margin	5.57	6.18	5.32	5.15	3.9
EBITDA Margin %	8.96	7.36	8.09	9.27	16.7
EBITA Margin %	7.03	5.48	6.55	7.64	15.35
EBIT Margin %	7.03	5.48	6.55	7.64	15.35
Income From Continuing Operations Margin %	4.31	3.34	5.28	5.03	10.21
Net Income Margin %	4.31	3.34	5.28	5.03	10.21
Net Avail. For Common Margin %	4.31	3.34	5.28	5.03	10.21
Normalized Net Income Margin	4.24	3.35	3.66	4.41	9.16
Levered Free Cash Flow Margin	-0.1	2.22	-5.37	-8.79	-13.74
Unlevered Free Cash Flow Margin	0.25	2.47	-4.98	-8.11	-13.05
Asset Turnover
Asset Turnover	1.63	1.54	1.64	1.66	1.73
Fixed Assets Turnover	5.11	4.61	5	5.49	7.58
Receivables Turnover (Average Receivables)	5.76	6.05	6.8	6.44	5.77
Inventory Turnover (Average Inventory)	4.26	3.67	3.69	3.47	3.06
Short Term Liquidity
Current Ratio	4.13	4.8	2.74	2.32	1.81
Quick Ratio	1.92	1.9	1.09	0.93	0.74
Operating Cash Flow to Current Liabilities	0.43	0.79	-0.06	-0.17	-0.29
Days Sales Outstanding (Average Receivables)	63.38	60.35	53.8	56.71	63.23
Days Outstanding Inventory (Average Inventory)	85.69	99.36	99.17	105.07	119.27
Average Days Payable Outstanding	8.43	10.42	10.26	8.49	7.38
Cash Conversion Cycle (Average Days)	140.64	149.29	142.72	153.28	175.12
Long Term Solvency
Total Debt/Equity	9.91	2.67	15.59	33.59	63.52
Total Debt / Total Capital	9.02	2.6	13.49	25.15	38.85
LT Debt/Equity	-	-	-	0.74	0.73
Long-Term Debt / Total Capital	-	-	-	0.55	0.45
Total Liabilities / Total Assets	17.93	15.53	25.01	32.15	45.37
EBIT / Interest Expense	12.69	13.7	10.44	6.99	13.83
EBITDA / Interest Expense	16.18	18.4	12.91	8.49	15.05
(EBITDA - Capex) / Interest Expense	9.5	9.08	6.66	5.6	13.13
Total Debt / EBITDA	0.57	0.2	0.97	1.6	1.47
Net Debt / EBITDA	0.43	0.18	0.94	1.59	1.47
Total Debt / (EBITDA - Capex)	0.98	0.41	1.88	2.43	1.69
Net Debt / (EBITDA - Capex)	0.73	0.37	1.83	2.41	1.68
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	16.23	-1.42	20.87	21.18	44.89
Gross Profit, 1 Yr. Growth %	-8.96	-3.02	16.92	23.74	75.63
EBITDA, 1 Yr. Growth %	-24.08	-19.09	32.97	38.81	160.94
EBITA, 1 Yr. Growth %	-29.89	-23.21	44.43	41.42	191.14
EBIT, 1 Yr. Growth %	-29.89	-23.21	44.43	41.42	191.14
Earnings From Cont. Operations, 1 Yr. Growth %	-34.79	-23.61	91.13	15.54	193.88
Net Income, 1 Yr. Growth %	-34.79	-23.61	91.13	15.54	193.88
Normalized Net Income, 1 Yr. Growth %	-30.83	-22.08	32.17	46.1	200.5
Diluted EPS Before Extra, 1 Yr. Growth %	-34.75	-23.7	91.28	15.59	193.85
Accounts Receivable, 1 Yr. Growth %	-3.38	-8.97	25.52	30.1	85.74
Inventory, 1 Yr. Growth %	9.04	20.11	22.41	32.64	72.42
Net Property, Plant and Equip., 1 Yr. Growth %	9.6	8.95	13.55	7.59	2.64
Total Assets, 1 Yr. Growth %	5.76	3.41	22.45	17.71	57.48
Tangible Book Value, 1 Yr. Growth %	6.84	6.45	8.72	6.36	26.84
Common Equity, 1 Yr. Growth %	6.81	6.43	8.71	6.49	26.8
Cash From Operations, 1 Yr. Growth %	-40.43	56.69	-117.28	-1.72K	298.7
Capital Expenditures, 1 Yr. Growth %	120.25	-0.71	26.97	-2.38	-2.37
Levered Free Cash Flow, 1 Yr. Growth %	-102.01	-2.35K	-392.48	98.22	126.5
Unlevered Free Cash Flow, 1 Yr. Growth %	-95.21	878.3	-343.72	97.21	133.17
Dividend Per Share, 1 Yr. Growth %	-33.33	0	150	40	57.14
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	24.44	7.04	9.16	21.02	32.51
Gross Profit, 2 Yr. CAGR %	4.61	-6.03	6.49	20.28	47.42
EBITDA, 2 Yr. CAGR %	6.15	-21.62	3.73	35.86	90.32
EBITA, 2 Yr. CAGR %	6.94	-26.63	5.31	42.92	102.91
EBIT, 2 Yr. CAGR %	6.94	-26.63	5.31	42.92	102.91
Earnings From Cont. Operations, 2 Yr. CAGR %	-1.62	-29.42	20.83	48.6	84.27
Net Income, 2 Yr. CAGR %	-1.62	-29.42	20.83	48.6	84.27
Normalized Net Income, 2 Yr. CAGR %	3.17	-26.58	1.48	38.96	109.53
Diluted EPS Before Extra, 2 Yr. CAGR %	-1.62	-29.44	20.81	48.7	84.3
Accounts Receivable, 2 Yr. CAGR %	13.52	-6.21	6.89	27.79	55.45
Inventory, 2 Yr. CAGR %	3.89	14.44	21.25	27.42	51.23
Net Property, Plant and Equip., 2 Yr. CAGR %	8.9	9.28	11.22	10.53	5.08
Total Assets, 2 Yr. CAGR %	5.97	4.58	12.53	20.06	36.15
Tangible Book Value, 2 Yr. CAGR %	9.44	6.65	7.58	7.54	16.15
Common Equity, 2 Yr. CAGR %	9.41	6.62	7.57	7.6	16.2
Cash From Operations, 2 Yr. CAGR %	-14.08	-2.84	-47.97	-15.4	704.48
Capital Expenditures, 2 Yr. CAGR %	-6.55	47.88	12.28	11.33	-2.38
Levered Free Cash Flow, 2 Yr. CAGR %	-54.34	-32.82	711.14	140.78	111.89
Unlevered Free Cash Flow, 2 Yr. CAGR %	-44.16	-31.55	388.3	119.24	114.44
Dividend Per Share, 2 Yr. CAGR %	-18.35	-18.35	58.11	87.08	48.32
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	15.51	15.14	11.47	13.03	28.51
Gross Profit, 3 Yr. CAGR %	3.19	2.01	1.07	11.95	36.46
EBITDA, 3 Yr. CAGR %	0.93	-3.03	-6.52	14.31	68.88
EBITA, 3 Yr. CAGR %	0.83	-4.24	-8.05	16.19	81.17
EBIT, 3 Yr. CAGR %	0.83	-4.24	-8.05	16.19	81.17
Earnings From Cont. Operations, 3 Yr. CAGR %	-4.28	-9.58	-1.62	19.04	86.53
Net Income, 3 Yr. CAGR %	-4.28	-9.58	-1.62	19.04	86.53
Normalized Net Income, 3 Yr. CAGR %	2.05	-6.05	-10.69	14.59	79.7
Diluted EPS Before Extra, 3 Yr. CAGR %	-4.27	-9.61	-1.62	19.04	86.6
Accounts Receivable, 3 Yr. CAGR %	11.12	5.47	3.35	14.13	44.75
Inventory, 3 Yr. CAGR %	0.33	9.04	17.04	24.94	40.94
Net Property, Plant and Equip., 3 Yr. CAGR %	6.86	8.91	10.68	10	7.83
Total Assets, 3 Yr. CAGR %	5.94	5.11	10.23	14.23	31.42
Tangible Book Value, 3 Yr. CAGR %	8.53	8.43	7.33	7.17	13.62
Common Equity, 3 Yr. CAGR %	8.5	8.41	7.32	7.21	13.65
Cash From Operations, 3 Yr. CAGR %	64.44	5.36	-45.36	3.9	41.84
Capital Expenditures, 3 Yr. CAGR %	39.22	-4.64	40.55	7.16	6.56
Levered Free Cash Flow, 3 Yr. CAGR %	-63.52	67.39	9.7	407.12	135.92
Unlevered Free Cash Flow, 3 Yr. CAGR %	-46.57	45.03	4.52	260.94	123.79
Dividend Per Share, 3 Yr. CAGR %	-12.64	-12.64	18.56	51.83	76.52
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	12.23	10.72	12.93	17.46	19.45
Gross Profit, 5 Yr. CAGR %	2.93	2.81	4.5	8.96	17.54
EBITDA, 5 Yr. CAGR %	-0.31	-2.01	2.04	10.97	24.23
EBITA, 5 Yr. CAGR %	-0.65	-2.73	2.6	12.39	26.2
EBIT, 5 Yr. CAGR %	-0.65	-2.73	2.6	12.39	26.2
Earnings From Cont. Operations, 5 Yr. CAGR %	0.5	-7.38	5.07	10.3	26.45
Net Income, 5 Yr. CAGR %	0.51	-7.38	5.07	10.3	26.45
Normalized Net Income, 5 Yr. CAGR %	0.39	-2.72	1.82	9.88	25.62
Diluted EPS Before Extra, 5 Yr. CAGR %	0.51	-7.39	5.06	10.3	26.46
Accounts Receivable, 5 Yr. CAGR %	8.09	4.72	9.41	13.88	21.68
Inventory, 5 Yr. CAGR %	9.42	10.78	8.23	16.05	29.67
Net Property, Plant and Equip., 5 Yr. CAGR %	3.49	5.42	8.58	9.56	8.41
Total Assets, 5 Yr. CAGR %	7.09	6.42	8.53	10.85	19.94
Tangible Book Value, 5 Yr. CAGR %	8.99	8.1	8.15	8.07	10.78
Common Equity, 5 Yr. CAGR %	8.96	8.07	8.13	8.08	10.79
Cash From Operations, 5 Yr. CAGR %	2.95	3.64	4.02	-3.49	21.92
Capital Expenditures, 5 Yr. CAGR %	28.25	8.69	27.74	1.45	21.48
Levered Free Cash Flow, 5 Yr. CAGR %	-41.51	8.44	26.15	93.6	42.75
Unlevered Free Cash Flow, 5 Yr. CAGR %	-33.19	7.16	29.46	71.1	39.33
Dividend Per Share, 5 Yr. CAGR %	0	-7.79	10.76	18.47	29.67