India Globalization Capital, Inc. (IGC) Income Statement
IGC FY2026 at a glance
Fiscal year ended March 31, 2026 · U.S. dollarsIGC revenue and net income
Where IGC's revenue goes
FY2026Each bar shows an amount and its share of revenue. IGC kept −552.1% of revenue as net income.
IGC profit margins
IGC growth rates
to FY2026| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −6.7% | +9.2% | +5.7% | −15.5% |
| Gross profit | −43.1% | — | — | −8.4% |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
IGC quarterly EPS vs estimates
India Globalization Capital beat the analyst EPS estimate in 7 of the last 8 quarters. Next report: November 13, 2026 (estimate $-0.02).
IGC income statement
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.2M | $1.3M | $1.3M | $911,000 | $397,000 | $898,000 | $4.1M | $5.1M | $2.2M | $580,372 |
| Cost of revenue | $834,000 | $652,000 | $612,000 | $1.1M | $203,000 | $1.2M | $4.0M | $5.0M | $2.1M | $362,135 |
| Gross profit | $352,000 | $619,000 | $733,000 | −$158,000 | $194,000 | −$349,000 | $115,000 | $132,000 | $81,524 | $218,237 |
| Research & development | $5.2M | $3.7M | $3.8M | $3.5M | $2.3M | $929,000 | $1.0M | $1.3M | $137,000 | $114,000 |
| Sales, general & admin | $4.1M | $4.4M | $6.8M | $8.6M | $13.3M | $7.9M | $6.0M | $3.5M | $1.7M | $1.9M |
| Total operating expenses | $10.6M | $8.1M | $10.5M | $11.4M | $15.6M | $8.4M | $7.0M | $4.8M | $1.9M | $2.3M |
| Operating income | −$10.2M | −$7.4M | −$9.8M | −$11.6M | −$15.4M | −$8.7M | −$6.9M | −$4.6M | −$1.8M | −$2.1M |
| Interest income | — | — | — | — | — | — | — | — | $4,824 | $1,744 |
| Interest expense | — | — | — | $65,000 | $412,000 | $0 | $0 | $0 | $30,742 | $223,464 |
| Income before taxes | −$6.5M | −$7.1M | −$13.0M | −$11.5M | −$15.0M | −$8.8M | −$7.3M | −$4.1M | −$1.8M | −$1.8M |
| Income taxes | — | — | $3.3M | −$65,000 | −$412,000 | $169,000 | $782,000 | $2,000 | $464 | $14,431 |
| Net income | −$6.5M | −$7.1M | −$13.0M | −$11.5M | −$15.0M | −$8.8M | −$7.3M | −$4.1M | −$1.8M | −$1.9M |
| EBITDA | −$6.5M | −$6.5M | −$12.4M | −$10.8M | −$14.4M | −$8.3M | −$6.7M | −$4.6M | −$1.7M | −$1.2M |
| EPS (diluted) | −$0.07 | −$0.08 | −$0.54 | −$0.22 | −$0.31 | −$0.22 | −$0.18 | −$0.12 | −$0.06 | −$0.08 |
| Gross margin | 29.7% | 48.7% | 54.5% | −17.3% | 48.9% | −38.9% | 2.8% | 2.6% | 3.7% | 37.6% |
| Operating margin | −860.3% | −585.8% | −728.5% | −1,270.1% | −3,886.1% | −971.5% | −168.6% | −90.8% | −81.6% | −353.9% |
| Net margin | −552.1% | −560.3% | −966.5% | −1,263.0% | −3,782.4% | −981.2% | −179.6% | −80.1% | −81.4% | −321.7% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $265,000 | $317,000 | $350,000 | $191,000 | $328,000 | $330,000 | $257,000 | $412,000 | $272,000 | $295,000 | $204,000 | $291,000 |
| Cost of revenue | $217,000 | $262,000 | $306,000 | $92,000 | $174,000 | $176,000 | $153,000 | $214,000 | $109,000 | $270,000 | $211,000 | $117,000 |
| Gross profit | $48,000 | $55,000 | $44,000 | $99,000 | $154,000 | $154,000 | $104,000 | $198,000 | $163,000 | $25,000 | −$7,000 | $174,000 |
| Research & development | $1.4M | $1.3M | $1.5M | $1.6M | $851,000 | $997,000 | $852,000 | $917,000 | $889,000 | $855,000 | $903,000 | $1.3M |
| Sales, general & admin | — | $1.2M | $1.5M | $1.4M | $1.2M | $569,000 | $1.1M | $1.0M | $1.7M | $1.5M | $2.2M | $1.4M |
| Total operating expenses | $2.8M | $2.5M | $3.0M | $3.0M | $2.1M | $1.6M | $2.0M | $2.0M | $2.6M | $2.2M | $3.0M | $2.7M |
| Operating income | −$2.8M | −$2.5M | −$2.9M | −$2.9M | −$1.9M | −$1.4M | −$1.9M | −$1.8M | −$2.4M | −$2.2M | −$3.0M | −$2.5M |
| Income before taxes | −$2.9M | −$2.4M | −$726,000 | −$1.8M | −$1.6M | −$1.2M | −$1.8M | −$1.7M | −$2.4M | −$2.9M | −$5.6M | −$2.5M |
| Income taxes | — | — | — | — | — | — | — | — | — | $722,000 | — | −$158,000 |
| Net income | −$2.9M | −$2.4M | −$726,000 | −$1.8M | −$1.6M | −$1.2M | −$1.8M | −$1.7M | −$2.4M | −$2.9M | −$5.6M | −$2.5M |
| EBITDA | −$2.7M | −$2.3M | −$662,000 | −$1.7M | −$1.5M | −$1.0M | −$1.7M | −$1.6M | −$2.2M | −$2.7M | −$5.4M | −$2.3M |
| EPS (diluted) | −$0.03 | −$0.02 | −$0.02 | −$0.02 | −$0.01 | −$0.01 | −$0.02 | −$0.02 | −$0.03 | −$0.40 | −$0.05 | −$0.05 |
| Gross margin | 18.1% | 17.4% | 12.6% | 51.8% | 47.0% | 46.7% | 40.5% | 48.1% | 59.9% | 8.5% | −3.4% | 59.8% |
| Operating margin | −1,050.6% | −775.4% | −840.3% | −1,517.8% | −580.8% | −427.9% | −730.7% | −427.2% | −880.9% | −735.6% | −1,469.6% | −856.0% |
| Net margin | −1,107.9% | −757.7% | −207.4% | −953.4% | −487.5% | −362.7% | −711.7% | −416.7% | −874.3% | −978.0% | −2,739.7% | −842.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in IGC's financial statements (latest annual report filed May 15, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
IGC financial results
In fiscal year 2026 (ended March 31, 2026), India Globalization Capital reported revenue of $1.2 million, down 6.7% from the year before. It had a net loss of $6.5 million, a net profit margin of −552.1%. Diluted earnings per share came to −$0.07. Over five years revenue grew at an average rate of 5.7% a year.
See the IGC stock overview for the latest quote and news, or the IGC chart for price history and technical indicators.
IGC income statement FAQ
What is India Globalization Capital's annual revenue?
India Globalization Capital reported total revenue of $1.2 million for fiscal year 2026, which ended on March 31, 2026. That was down 6.7% from $1.3 million the previous year.
Is India Globalization Capital profitable?
No. India Globalization Capital reported a net loss of $6.5 million in fiscal 2026, a net profit margin of −552.1%; its operating margin was −860.3%.
What is India Globalization Capital's gross margin?
India Globalization Capital's gross margin was 29.7% in fiscal 2026: for every $100 of revenue, India Globalization Capital kept $30 after the direct cost of its products and services.
How much does India Globalization Capital spend on research and development?
India Globalization Capital spent $5.2 million on research and development in fiscal 2026, 437.9% of revenue.
How fast is India Globalization Capital growing?
Revenue grew 5.7% a year on average over the last five fiscal years, from $0.9 million to $1.2 million.
What are India Globalization Capital's earnings per share?
India Globalization Capital earned $-0.07 per diluted share in fiscal 2026, compared with $-0.08 a year earlier.
When will India Globalization Capital report its next earnings?
India Globalization Capital is expected to report results for the quarter ending September 30, 2026 on November 13, 2026.
When does India Globalization Capital's fiscal year end?
India Globalization Capital's fiscal year ends in March. The latest annual report covers the year ended March 31, 2026 and was filed on May 15, 2026.