Ming Shing Group Holdings (MSW) Income Statement

Ming Shing Group Holdings reported revenue of $33.85M in fiscal 2025 (fiscal year ended Mar 31, 2025), up 22.8% from $27.57M a year earlier. Ming Shing Group Holdings posted a net loss of $5.73M, compared with net income of $2.33M a year earlier. Gross margin was -3.9% and operating margin -15.8%. In the most recent quarter, H1 fiscal 2026 (ended Sep 30, 2025), revenue was $8.43M, down 51.6% from the same quarter a year earlier.

Ming Shing Group Holdings Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Ming Shing Group Holdings Limited income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period ending	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Revenue & Gross Profit
Revenue	33.85	27.57	21.87	14.38	6.15
Cost of Revenue	35.16	22.48	18.37	11.76	5.03
Gross Profit	-1.31	5.09	3.49	2.63	1.12
Operating Expenses
Research & Development	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	4.05	1.85	0.86	0.49	0.36
Operating Expenses	4.05	1.85	0.86	0.51	0.36
Operating Income	-5.35	3.25	2.64	2.12	0.76
Other Income/Expense
Interest Income	0.00	0.00	0.00	0.00	0.00
Interest Expense	-0.51	-0.29	-0.18	0.07	0.09
Other Income/Expense	-0.46	-0.27	0.62	0.00	0.60
Income
Income Before Tax	-5.81	2.98	3.26	2.12	1.36
Income Tax Expense	-0.08	0.65	0.47	0.32	0.09
Net Income	-5.73	2.33	2.79	1.80	1.27
Net Income - Continuous Operations	-5.73	2.33	2.79	1.80	1.27
Net Income - Discontinued Operations	-	-	-	-	-
EBITDA	-5.20	3.35	2.72	2.25	1.50
EBIT	-5.35	3.25	2.64	2.20	0.76
Depreciation & Amortization	0.15	0.11	0.08	0.06	0.05
Earnings Per Share
Basic EPS	-	-	-	-	-
Diluted EPS	-	-	-	-	-
Basic Shares Outstanding	11.85	11.25	11.25	15.00	15.00
Diluted Shares Outstanding	11.85	11.25	11.25	15.00	15.00

Source: Company financial statements from annual and quarterly filings. Data as of Sep 30, 2025. Data sources and methodology

Frequently Asked Questions About Ming Shing Group Holdings Financial Statements

What was Ming Shing Group Holdings's revenue in fiscal 2025?

Ming Shing Group Holdings reported revenue of $33.85M in fiscal 2025 (fiscal year ended Mar 31, 2025). That was up 22.8% from $27.57M a year earlier.

Is Ming Shing Group Holdings profitable?

No. Ming Shing Group Holdings reported a net loss of $5.73M in fiscal 2025. In fiscal 2024 it earned $2.33M.

What is Ming Shing Group Holdings's operating margin?

Ming Shing Group Holdings's operating income was −$5.35M on revenue of $33.85M in fiscal 2025, an operating margin of -15.8%, compared with 11.8% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition