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Ming Shing Group Holdings Ltd

PMA Clue Score32
Cayman Islands Fiscal year ends March CIK 0001956166
$1.27 +1.60% Close, 9 Oct 2026
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Price $1.27 −1.55% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 9 Jul 2026. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2022Revenue14.4Operating income2.1Net income1.8EPS, diluted0.22Fiscal year 2023Revenue21.9 +52.0%Operating income2.6Net income2.8 +54.5%EPS, diluted0.25 +13.6%Fiscal year 2024Revenue27.6 +26.1%Operating income3.2Net income2.3 −16.5%EPS, diluted0.21 −16.0%Fiscal year 2025Revenue33.9 +22.8%Operating income−5.4Net income−5.7 −346.3%EPS, diluted−0.48 −328.6%Fiscal year 2026Revenue14.6 −56.8%Operating income−5.5Net income−5.8EPS, diluted−0.44
FY2022FY2023FY2024FY2025FY2026
Revenue 14.4 21.9 27.6 33.9 14.6
Growth +52.0% +26.1% +22.8% −56.8%
Operating income 2.1 2.6 3.2 −5.4 −5.5
Net income 1.8 2.8 2.3 −5.7 −5.8
Growth +54.5% −16.5% −346.3%
EPS, diluted 0.22 0.25 0.21 −0.48 −0.44
Growth +13.6% −16.0% −328.6%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2022Gross margin18.3%Operating margin14.7%Net margin12.5%Fiscal year 2023Gross margin16.0%Operating margin12.1%Net margin12.7%Free cash flow margin3.6%Fiscal year 2024Gross margin18.5%Operating margin11.8%Net margin8.4%Free cash flow margin4.8%Fiscal year 2025Gross margin−3.9%Operating margin−15.8%Net margin−16.9%Fiscal year 2026Gross margin−18.4%Operating margin−37.4%Net margin−39.4%
FY2022FY2023FY2024FY2025FY2026
Gross margin 18.3% 16.0% 18.5% −3.9% −18.4%
Operating margin 14.7% 12.1% 11.8% −15.8% −37.4%
Net margin 12.5% 12.7% 8.4% −16.9% −39.4%
Free cash flow margin n/a 3.6% 4.8% n/a n/a

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2022Operating cash flow−0.2Fiscal year 2023Operating cash flow0.8Capital expenditure−0.0Free cash flow0.8Fiscal year 2024Operating cash flow2.5Capital expenditure−1.1Free cash flow1.3 +68.0%Fiscal year 2025Operating cash flow−8.0Fiscal year 2026Operating cash flow0.8
FY2022FY2023FY2024FY2025FY2026
Operating cash flow −0.2 0.8 2.5 −8.0 0.8
Capital expenditure n/a −0.0 −1.1 n/a n/a
Free cash flow n/a 0.8 1.3 n/a n/a
Growth +68.0%

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2022Shareholders’ equity0.2Fiscal year 2023Cash0.3Total debt5.3Net cash (debt)−5.0Shareholders’ equity0.4Debt to equity13.90Fiscal year 2024Cash1.1Total debt6.9Net cash (debt)−5.8Shareholders’ equity1.0Debt to equity6.86Fiscal year 2025Cash0.2Total debt7.6Net cash (debt)−7.4Shareholders’ equity1.0Debt to equity7.75Fiscal year 2026Cash1.6Total debt7.1Net cash (debt)−5.4Shareholders’ equity−4.8
FY2022FY2023FY2024FY2025FY2026
Cash n/a 0.3 1.1 0.2 1.6
Total debt n/a 5.3 6.9 7.6 7.1
Net cash (debt) n/a −5.0 −5.8 −7.4 −5.4
Shareholders’ equity 0.2 0.4 1.0 1.0 −4.8
Debt to equity n/a 13.90 6.86 7.75 n/a

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2026 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending March, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2022 31 Mar 2022 FY2023 31 Mar 2023 FY2024 31 Mar 2024 FY2025 31 Mar 2025 FY2026 31 Mar 2026
Revenue and profit
14.4 21.9 27.6 33.9 14.6
Growth +52.0% +26.1% +22.8% −56.8%
11.8 18.4 22.5 35.2 17.3
2.6 3.5 5.1 −1.3 −2.7
Growth +32.9% +45.7% −125.6%
0.5 0.9 1.8 4.0 2.8
2.1 2.6 3.2 −5.4 −5.5
Growth +24.7% +23.0% −265.0%
2.1 3.3 3.0 −5.8 −5.7
0.3 0.5 0.6 −0.1 0.0
1.8 2.8 2.3 −5.7 −5.8
Growth +54.5% −16.5% −346.3%
Per share
0.22 0.25 0.21 −0.48 −0.44
0.22 0.25 0.21 −0.48 −0.44
Growth +13.6% −16.0% −328.6%
8.1 11.3 11.3 11.8 13.0
8.1 11.3 11.3 11.8 13.0
Growth +38.3% +0.0% +5.3% +9.5%

Five years in brief

Worked out from the figures above, not from a press release
  • A net loss in 2 of 5 years on file.