Novelis Inc. (NVL) [Rocket]

In millions, except per share items	Mar-31-23	Mar-31-22	Mar-31-21	Mar-31-20	Mar-31-19	Mar-05-19	Mar-31-18	Mar-31-17
Revenues	18,486	17,149	12,276	11,217	12,326	12,326	11,462	9,591
Revenue growth	7.8%	39.7%	9.4%	-9.0%	7.5%		19.5%	-2.8%
Cost of goods sold	16,333	14,576	10,363	9,570	10,731	0	9,689	7,992
Gross profit	2,153	2,573	1,913	1,647	1,595	12,326	1,773	1,599
Gross margin	11.6%	15.0%	15.6%	14.7%	12.9%	100.0%	15.5%	16.7%
Selling, general and administrative	679	631	551	498	502	502	466	396
Research and development	95	92	83	84	72	72	64	58
EBIT	1,192	1,402	1,092	899	983	682	877	511
EBIT margin	6.4%	8.2%	8.9%	8.0%	8.0%	5.5%	7.7%	5.3%
Pre-tax income	806	1,299	696	598	636	636	855	197
Income taxes	147	281	238	178	202	202	233	151
Tax rate	18.2%	21.6%	34.2%	29.8%	31.8%	31.8%	27.3%	76.6%
Earnings from continuing ops	660	1,017	457	420	434	434	635	45
Earnings from discontinued ops	-2	-63	-221
Net income	658	954	236	420	434	434	635	45
Net margin	3.6%	5.6%	1.9%	3.7%	3.5%	3.5%	5.5%	0.5%

Diluted EPS
Shares outstanding (diluted)

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.