Restated financial statements

m-k-sons-fine-jewels: the financials, in full

Every line of the restated Profit & Loss, Balance Sheet and Cash Flow statement, across 4 reported periods — extracted from the DRHP, in ₹ in million.

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Revenue (Dec '25*)

₹360.8 cr

Net profit (Dec '25*)

₹29.2 cr

Periods reported

Statements

3 / 3

Revenue from operations

₹ crore

Net profit

₹ crore

Net cash from operations

₹ crore

Statement of Profit & Loss

DRHP p.65

Line item	Dec '25*	FY25	FY24	FY23
Income	—	—	—	—
Revenue from operations	3,608.21	3,512.80	2,173.23	249.12
Other income	0.24	0.36	0.72	0.18
Total Income (I)	3,608.45	3,513.16	2,173.95	249.31
Expenses	—	—	—	—
Purchases of Stock in Trade	3,338.33	3,389.39	2,400.18	431.49
Changes in inventories of finished goods	(348.96)	(386.25)	(426.67)	(233.56)
Finance costs	57.06	54.03	14.05	2.31
Employee benefits expense	71.00	57.79	30.03	9.65
Depreciation and Amortisation	25.65	11.76	7.06	3.32
Other expenses	65.91	66.19	40.98	18.85
Total expenses (II)	3,208.99	3,192.90	2,065.63	232.06
Restated Profit before tax (III= I-II)	399.46	320.26	108.32	17.25
Tax expense:	—	—	—	—
Current tax	—	—	—	—
-For current year/period	110.00	85.50	27.89	4.81
-Short/(excess) tax for earlier years	—	—	—	0.02
Deferred tax	(2.19)	2.13	(1.22)	(0.97)
Total tax expense (IV)	107.81	87.63	26.67	3.86
Restated Profit for the year (V = III - IV)	291.65	232.62	81.65	13.39
Items that will not be reclassified to profit or loss	—	—	—	—
Re-measurements of the defined benefit plans gain or (loss)	0.24	(0.53)	(0.32)	—
Income tax relating to items that will not be reclassified to profit or loss	(0.06)	0.13	0.08	—
Items that will be reclassified to profit or loss	—	—	—	—
Restated Other Comprehensive Income for the year (VI)	0.18	(0.40)	(0.24)	—
Restated Total Comprehensive Income for the year (VII = V+ VI)	291.83	232.22	81.41	13.39
Restated Earnings per equity share (face value Rs. 10 each):	—	—	—	—
Basic (Rs. per share)	6.83	10.26	3.63	0.60
Diluted (Rs. per share)	6.83	10.26	3.63	0.60

Balance Sheet

DRHP pp.64-231

Line item	FY25	FY25	FY24	FY23
ASSETS	—	—	—	—
Non-current assets	—	—	—	—
Property, Plant and Equipment	55.48	42.21	11.53	6.37
Right-of-use assets	59.63	5.44	9.29	13.13
Other intangible assets	0.46	0.59	0.33	0.02
Financial assets	—	—	—	—
(i) Other financial assets	5.16	4.67	3.73	3.49
Deferred tax assets (net)	3.26	1.13	3.13	1.99
Total non-current assets	123.98	54.05	28.01	25.00
Current assets	—	—	—	—
Inventories	2,405.92	2,056.96	874.81	448.12
Financial assets	—	—	—	—
(i) Cash and cash equivalents	138.06	27.94	6.66	2.77
(ii) Trade receivables	34.22	12.10	5.89	1.30
(iii) Other financial assets	9.59	9.59	9.34	9.34
Other current assets	92.44	35.74	27.41	20.58
Total current assets	2,680.23	2,142.33	924.10	482.12
TOTAL ASSETS	2,804.21	2,196.38	952.11	507.12
EQUITY AND LIABILITIES	—	—	—	—
Equity	—	—	—	—
Equity share capital	426.91	85.38	45.00	45.00
Other equity	1,027.27	1,076.97	177.90	96.49
Total equity	1,454.18	1,162.35	222.90	141.49
LIABILITIES	—	—	—	—
Non-current liabilities	—	—	—	—
Financial liabilities	—	—	—	—
(i) Borrowings	200.24	200.77	70.80	-
(ii) Lease Liability	39.34	5.46	5.91	9.41
Provisions	6.87	5.68	1.66	0.80
Total non-current liabilities	246.46	211.91	78.37	10.21
Current liabilities	—	—	—	—
Financial liabilities	—	—	—	—
(i) Borrowings	520.82	488.55	315.64	121.28
(ii) Trade payables	—	—	—	—
(a) total outstanding dues of small enterprises and micro enterprises	64.84	-	-	-
(b) total outstanding dues of creditors other than micro enterprises and small enterprises	221.25	215.69	260.55	216.44
(iii) Lease Liability	23.70	0.44	3.50	3.13
(iv) Other financial liabilities	55.87	30.24	12.84	1.83
Provisions	8.14	2.75	0.60	0.40
Other current liabilities	105.29	33.74	35.06	9.54
Current tax liabilities (net)	103.65	50.70	22.65	2.80
Total current liabilities	1,103.57	822.11	650.84	355.42
TOTAL EQUITY AND LIABILITIES	2,804.21	2,196.38	952.11	507.12

Cash Flow Statement

DRHP pp.66-67

Line item	FY25	FY25	FY24	FY23
Cash flow from operating activities	—	—	—	—
Restated Profit before taxation	—	—	—	—
Adjustments for:	—	—	—	—
Depreciation and amortisation expenses	25.65	11.76	7.06	3.32
Provision for Gratuity	2.39	1.08	0.74	1.20
Interest income on security deposits (Ind AS 116)	(0.24)	(0.31)	(0.29)	(0.18)
Finance cost on lease liability	3.57	0.72	0.99	0.55
Ind AS Adjustment on processing fees	9.27	10.39	—	—
Finance cost	53.49	53.31	13.06	1.76
Cash (used in)/generated from operation before working capital changes	493.59	397.20	129.88	23.89
Adjustments for working capital changes	—	—	—	—
(Increase)/Decrease in trade receivables	(22.11)	1.36	(4.58)	(0.67)
(Increase)/Decrease in other financial assets	(0.71)	9.51	0.04	(10.74)
(Increase)/Decrease in Inventories	(348.96)	(386.23)	(426.69)	(233.56)
(Increase)/Decrease in other current assets	(56.71)	(8.33)	(6.83)	1.70
(Decrease) / Increase in trade payables	70.40	(54.55)	44.11	199.15
(Decrease) / Increase in provisions	4.43	1.08	—	—
(Decrease) / Increase in other financial liabilities	25.63	17.40	11.01	(2.58)
(Decrease) / Increase in other current liabilities	71.56	(15.30)	25.52	(24.62)
Cash (used in) from operations	(256.48)	(435.06)	(357.42)	(71.33)
Income taxes paid (net of refund)	(57.05)	(57.46)	(8.03)	(2.03)
Net cash (used in)/generated from operating activities	180.06	(95.31)	(235.57)	(49.47)
Cash flow from investing activities	—	—	—	—
Purchase of Property, plant & equipment and intangible assets	(21.35)	(23.41)	(8.71)	(5.28)
Net cash (used in)/generated from investment activities - B	(21.35)	(23.41)	(8.71)	(5.28)
Cash flow from financing activities	—	—	—	—
(Repayment)/Proceeds of borrowings	22.46	191.44	265.16	59.90
Finance cost	(53.49)	(53.31)	(13.06)	(1.76)
Interest on Lease Liability	(3.57)	(0.72)	(0.99)	(0.55)
Principal repayment of leases (Ind AS 116)	(14.00)	(3.49)	(2.96)	(1.95)
Net cash generated from/(used in) financing activities - C	(48.60)	133.92	248.16	55.63
Net increase/(decrease) in cash and cash equivalents	110.11	15.19	3.91	0.88
Cash and cash equivalents as at the beginning of the period/year	27.94	6.65	2.77	1.89
Cash and Cash Equivalent received in business succession	—	6.10	—	—
Cash and cash equivalents as at the end of the period/year	138.06	27.94	6.65	2.77
Reconciliation of cash and cash equivalents with the Restated Statement of Assets and Liabilities	—	—	—	—
Cash-on-hand	48.00	14.43	5.66	2.28
Balance with Banks - in Current accounts	90.06	13.51	0.99	0.49
Cash and cash equivalents as restated at the period/year end	138.06	27.94	6.65	2.77

Accounting Ratios

DRHP p.283

Line item	Dec '25*	FY25	FY24	FY23
Restated Profit/(loss) after Tax (A)	291.65	232.62	81.65	13.39
Weighted average number of Equity Shares outstanding during the year/Period for Basic EPS (B)	42,690,760	22,665,950	22,500,000	22,500,000
Weighted average number of Equity Shares outstanding during the year/Period for diluted EPS (C)	42,690,760	22,665,950	22,500,000	22,500,000
Basic Earnings per Equity Share (D = A/B)	6.83	10.26	3.63	0.60
Diluted Earnings per Equity Share (E = A/C)	6.83	10.26	3.63	0.60
Restated Net Worth (F)	1,447.23	1,162.10	222.67	141.51
Return on Net Worth (G=A/F)	20.16%	19.98%	36.56%	9.48%
Actual number of equity shares at the end of the year (H)	42,690,760	22,665,950	22,500,000	22,500,000
Net Asset Value Per Share (in Rs)	33.90	51.27	9.91	6.29
EBITDA	481.93	385.68	128.71	22.69