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Quarterly results

consolidated · as filed with NSE · Q1 FY27 back to Q2 FY22

₹ 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	Q4 FY22	Q3 FY22	Q2 FY22
Revenue from operations	600	593	569	544	520	484	450	421	395	375	351	334	306	299	286	268	225	210	197
Other income	10.4	0	0	9.6	9.9	15.2	14.6	14.2	9.7	16.6	11.2	10.9	9.2	9.9	8.5	8.8	9.1	6.1	6.5
Total expenses	282	266	265	259	245	228	219	199	183	176	158	155	131	132	126	120	90	85.2	93.8
EBITDA	492	492	470	453	439	409	377	353	334	309	295	277	261	246	239	217	187	175	160
EBITDA margin	81.9%	82.9%	82.6%	83.2%	84.4%	84.5%	83.8%	83.9%	84.7%	82.6%	83.9%	83.2%	85.4%	82.3%	83.4%	80.9%	82.8%	83.3%	81.2%
Finance costs	170	161	162	165	160	150	143	128	120	109	98.5	96.1	84.7	77.7	77.2	66.8	49.2	48.6	55.2
Depreciation	3.5	3.6	3.4	3.2	3.1	3.3	3.3	2.8	2.6	2.3	2.4	2.6	1.9	1.5	1.7	2.3	2.2	1.5	1.5
Profit before tax	329	328	304	294	286	271	246	237	222	215	205	190	183	176	168	157	144	131	109
Tax	68.2	66.6	67.6	67.7	66.3	63.9	55	54.8	49.9	51	47.6	41.5	41.2	41.1	42.9	33.3	34.5	29.7	24.1
Net profit	261	261	236	227	219	207	191	182	172	164	158	148	142	135	126	123	110	101	85.3
Net margin	43.5%	44.0%	41.5%	41.6%	42.1%	42.8%	42.3%	43.2%	43.5%	43.8%	44.8%	44.4%	46.5%	45.3%	43.9%	46.0%	48.8%	48.3%	43.3%
EPS (₹)	5.21	5.22	4.72	4.54	4.39	4.15	3.82	3.65	3.44	3.29	3.16	2.97	2.86	2.72	2.53	2.48	2.25	2.05	1.75
Net profit YoY	+19.0%	+26.0%	+24.0%	+24.5%	+27.7%	+26.2%	+20.9%	+22.9%	+20.7%	+21.2%	+25.5%	+20.0%	–	+23.1%	+23.7%	+44.6%	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22
Revenue from operations	2,245	1,750	1,365	1,093	815
Other income	0	48	51.7	35.6	25.5
Total expenses	1,034	824	624	475	360
EBITDA	1,873	1,479	1,139	901	670
EBITDA margin	83.4%	84.5%	83.4%	82.4%	82.2%
Finance costs	648	541	388	276	209
Depreciation	13.3	12.1	9.3	7.2	6.6
Profit before tax	1,211	975	793	654	480
Tax	268	224	181	151	110
Net profit	943	751	612	503	370
Net margin	42.0%	42.9%	44.8%	46.0%	45.4%
EPS (₹)	18.84	15.04	12.27	10.11	7.58
Net profit YoY	+25.5%	+22.8%	+21.6%	+35.9%	–

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	−592	−1,405	−1,356	−1,047	−724
Investing cash flow	−72	13.1	20.7	35.7	−62
Financing cash flow	822	1,461	1,224	978	768
Capital expenditure	6.4	6.9	4.9	3.3	3.7
Free cash flow (CFO − capex)	−599	−1,412	−1,361	−1,050	−727

Net profit trend

annual, ₹ crore

FY22

₹370

FY23

₹503+36%

FY24

₹612+22%

FY25

₹751+23%

FY26

₹943+26%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	31 Jul 2026	PDF on NSE XBRL
Q1 FY27	Standalone	31 Jul 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	6 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	6 May 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	4 Feb 2026	PDF on NSE XBRL
Q3 FY26	Standalone	4 Feb 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	31 Oct 2025	PDF on NSE XBRL
Q2 FY26	Standalone	31 Oct 2025	PDF on NSE XBRL
Q1 FY26	Consolidated	31 Jul 2025	PDF on NSE XBRL
Q1 FY26	Standalone	31 Jul 2025	PDF on NSE XBRL

Annual reports

NSE archive

FY2610.00 MB FY25 FY24 FY23 FY22 FY21

Key ratios

P/E (TTM)5Y avg 25.1×12.4×

P/B5Y avg 3.75×2.42×

ROEFY26, on average equity20.1%

Net margin42.0%

Debt / equity1.29×

Revenue CAGR (3Y)27.1%

Profit CAGR (3Y)23.3%

EPS (TTM)₹19.66

Market cap₹12,248 Cr

Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.

P/B vs history

2.42×

vs 10-point avg 3.75× (−35%)

1.93× low3.75× avg4.85× high

History points are balance-sheet dates (2021 → 2026), priced at the adjusted close on each date.

Balance sheet 31 Mar 2026

Total assets₹13,048 Cr+16%

Net worth₹5,060 Cr+17%

Total borrowings₹6,539 Cr+18%

Cash & bank balances₹563 Cr+39%

Investments₹240 Cr+354%

Inventories₹0 Cr

Trade receivables₹0 Cr

Change vs the same date a year earlier.

Shareholding 30 Jun 2026

%	Jun 26	Mar 26	Dec 25	Sept 25	Jun 25	Mar 25	Dec 24	Sept 24	Jun 24	Mar 24	Dec 23	Sept 23
Promoter	23.86	23.87	23.87	23.87	40.37	52.98	52.98	53.91	53.97	61.09	62.09	62.12
FII	29.95	30.34	33.20	35.35	30.40	27.74	21.87	22.46	22.81	19.58	15.42	14.83
DII	29.91	29.44	27.29	25.88	16.04	9.88	9.68	9.48	9.15	5.10	5.21	2.78
of which MF	24.50	24.23	22.30	21.36	14.73	–	–	–	–	–	–	–
Retail	11.36	10.72	9.93	8.97	7.92	6.08	6.15	4.70	4.26	4.19	4.37	4.29
Other public	4.92	5.63	5.71	5.93	5.27	3.32	9.32	9.45	9.81	10.04	12.91	15.98

1,66,122 shareholders · NSE shareholding pattern filings.