Quarterly results
consolidated · as filed with NSE · Q1 FY27 back to Q2 FY21
| ₹ crore | Q1 FY27 | Q4 FY26 | Q3 FY26 | Q2 FY26 | Q1 FY26 | Q4 FY25 | Q3 FY25 | Q2 FY25 | Q1 FY25 | Q4 FY24 | Q3 FY24 | Q2 FY24 | Q1 FY24 | Q4 FY23 | Q3 FY23 | Q2 FY23 | Q1 FY23 | Q4 FY22 | Q3 FY22 | Q2 FY22 | Q1 FY22 | Q4 FY21 | Q3 FY21 | Q2 FY21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 1,430 | 1,459 | 1,335 | 1,202 | 1,141 | 1,056 | 1,262 | 1,515 | 1,405 | 1,357 | 1,059 | 1,048 | 808 | 826 | 718 | 717 | 670 | 671 | 597 | 527 | 463 | 409 | 307 | 310 |
| Other income | 4 | 7.8 | 2.8 | 2.4 | 2.6 | 1.8 | 1.6 | 1.3 | 4.6 | 1.3 | 1.8 | 1.4 | 3.6 | 5.3 | 41.2 | 29.2 | 16.8 | 14 | 9.8 | 10.8 | 11.8 | 10.2 | 8.8 | 8.1 |
| Total expenses | 1,109 | 1,027 | 964 | 910 | 979 | 822 | 876 | 944 | 1,013 | 900 | 710 | 642 | 514 | 469 | 458 | 460 | 444 | 411 | 386 | 359 | 312 | 277 | 211 | 218 |
| EBITDA | 485 | 599 | 529 | 415 | 275 | 343 | 496 | 672 | 470 | 530 | 398 | 443 | 320 | 385 | 294 | 288 | 252 | 285 | 234 | 191 | 171 | 147 | 106 | 111 |
| EBITDA margin | 33.9% | 41.0% | 39.7% | 34.6% | 24.1% | 32.5% | 39.3% | 44.4% | 33.5% | 39.0% | 37.6% | 42.3% | 39.7% | 46.6% | 40.9% | 40.2% | 37.6% | 42.5% | 39.2% | 36.2% | 36.9% | 35.9% | 34.6% | 35.7% |
| Finance costs | 129 | 134 | 127 | 93.2 | 82.9 | 80.3 | 83.5 | 75.4 | 55.6 | 55.6 | 35.6 | 26.4 | 18.3 | 19.8 | 25.4 | 24.5 | 19.8 | 19.5 | 18.3 | 17.9 | 16.4 | 10.8 | 5.6 | 14.3 |
| Depreciation | 35.1 | 32.9 | 31.5 | 30.7 | 29.9 | 28.5 | 26.7 | 25.6 | 22.6 | 16.7 | 13.1 | 11.2 | 8.9 | 8.9 | 8 | 6.9 | 6.5 | 5.2 | 4.8 | 4.5 | 4.1 | 4 | 4.7 | 4.6 |
| Profit before tax | 325 | 440 | 374 | 294 | 164 | 236 | 387 | 572 | 397 | 459 | 351 | 407 | 297 | 362 | 302 | 286 | 243 | 274 | 221 | 179 | 162 | 142 | 105 | 99.6 |
| Tax | 93.3 | 120 | 105 | 82.3 | 50 | 61.2 | 106 | 149 | 104 | 119 | 90.7 | 103 | 75.9 | 94.6 | 73.9 | 72.1 | 61.1 | 69.6 | 56.2 | 45.1 | 40.8 | 40.4 | 31.3 | 25.1 |
| Net profit | 231 | 320 | 269 | 212 | 114 | 175 | 281 | 423 | 293 | 340 | 260 | 305 | 221 | 267 | 228 | 214 | 182 | 205 | 165 | 134 | 121 | 102 | 73.2 | 74.5 |
| Net margin | 16.2% | 21.9% | 20.1% | 17.6% | 10.0% | 16.5% | 22.3% | 28.0% | 20.8% | 25.0% | 24.6% | 29.1% | 27.3% | 32.3% | 31.7% | 29.8% | 27.1% | 30.5% | 27.5% | 25.4% | 26.2% | 24.9% | 23.8% | 24.0% |
| EPS (₹) | 2.54 | 3.52 | 29.59 | 23.39 | 12.66 | 19.33 | 31.25 | 46.98 | 32.55 | 40.48 | 31.02 | 36.31 | 26.39 | 32.01 | 27.36 | 25.64 | 21.88 | 24.72 | 19.90 | 16.28 | 14.80 | 12.46 | 8.99 | 10.35 |
| Net profit YoY | +102.2% | +83.5% | −4.5% | −50.0% | −60.9% | −48.7% | +8.1% | +39.0% | +32.6% | +27.4% | +14.2% | +42.6% | +21.6% | +30.4% | +38.6% | +59.1% | +49.6% | +100.9% | +124.9% | +80.2% | – | – | – | – |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 |
|---|---|---|---|---|---|---|
| Revenue from operations | 5,137 | 5,238 | 4,272 | 3,002 | 2,259 | 1,264 |
| Other income | 15.6 | 9.3 | 8.1 | 19.5 | 46.5 | 35.3 |
| Total expenses | 3,880 | 3,656 | 2,766 | 1,829 | 1,468 | 888 |
| EBITDA | 1,818 | 1,981 | 1,692 | 1,292 | 881 | 433 |
| EBITDA margin | 35.4% | 37.8% | 39.6% | 43.0% | 39.0% | 34.3% |
| Finance costs | 437 | 295 | 136 | 89.5 | 72.1 | 38.9 |
| Depreciation | 125 | 103 | 49.9 | 30.3 | 18.6 | 18.4 |
| Profit before tax | 1,272 | 1,592 | 1,514 | 1,192 | 837 | 411 |
| Tax | 357 | 420 | 388 | 302 | 212 | 113 |
| Net profit | 915 | 1,172 | 1,126 | 890 | 625 | 297 |
| Net margin | 17.8% | 22.4% | 26.3% | 29.6% | 27.7% | 23.5% |
| EPS (₹) | 10.09 | 130.05 | 134.22 | 106.91 | 75.75 | 38.75 |
| Net profit YoY | −21.9% | +4.1% | +26.5% | +42.4% | +110.5% | – |
EPS is as filed for each period and is not restated for later bonus issues or splits.
Cash flow
annual · ₹ crore| ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 |
|---|---|---|---|---|---|
| Operating cash flow | −4,142 | −1,860 | −330 | 803 | 558 |
| Investing cash flow | −111 | −341 | −91 | −185 | −52.4 |
| Financing cash flow | 3,656 | 1,917 | 1,331 | −907 | −165 |
| Capital expenditure | 50.4 | 150 | 180 | 33.4 | 54.3 |
| Free cash flow (CFO − capex) | −4,192 | −2,010 | −510 | 770 | 503 |
Net profit trend
annual, ₹ croreFY21
₹297
FY22
₹625+110%
FY23
₹890+42%
FY24
₹1,126+26%
FY25
₹1,172+4%
FY26
₹915−22%
Result filings
as filed with NSE · PDF and XBRL| Period | Basis | Filed | Documents |
|---|---|---|---|
| Q1 FY27 | Consolidated | 15 Jul 2026 | PDF on NSE XBRL |
| Q1 FY27 | Standalone | 15 Jul 2026 | PDF on NSE XBRL |
| Q4 FY26 | Consolidated · audited | – | PDF on NSE XBRL |
| Q4 FY26 | Consolidated · audited | 16 Apr 2026 | PDF on NSE XBRL |
| Q4 FY26 | Standalone · audited | – | PDF on NSE XBRL |
| Q4 FY26 | Standalone · audited | 16 Apr 2026 | PDF on NSE XBRL |
| Q3 FY26 | Consolidated | – | PDF on NSE XBRL |
| Q3 FY26 | Consolidated | 15 Jan 2026 | PDF on NSE XBRL |
| Q3 FY26 | Standalone | – | PDF on NSE XBRL |
| Q3 FY26 | Standalone | 15 Jan 2026 | PDF on NSE XBRL |
Annual reports
NSE archiveKey ratios
P/E (TTM)5Y avg 19.9×25.4×
P/B5Y avg 5.24×4.29×
ROEFY26, on average equity15.6%
Net margin17.8%
Debt / equity0.81×
Revenue CAGR (3Y)19.6%
Profit CAGR (3Y)0.9%
EPS (TTM)₹11.33
Market cap₹26,233 Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
4.29×
vs 10-point avg 5.24× (−18%)
3.34× low5.24× avg9.13× high
History points are balance-sheet dates (2021 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹23,904 Cr+42%
Net worth₹6,118 Cr+9%
Total borrowings₹4,926 Cr+96%
Cash & bank balances₹162 Cr−79%
Investments₹257 Cr+28%
Inventories₹0 Cr
Trade receivables₹434 Cr+45%
Change vs the same date a year earlier.
Revenue mix FY23
Broking and related services99.8%result ₹1,186 Cr
Finance and Investing activities0.2%result ₹6.2 Cr
Segment revenue as reported, before inter-segment eliminations.