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Quarterly results

consolidated · as filed with NSE · Q1 FY27 back to Q4 FY18

₹ 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	Q1 FY21	Q4 FY20	Q3 FY20	Q2 FY20	Q1 FY20	Q4 FY19	Q3 FY19	Q2 FY19	Q4 FY18
Revenue from operations	318	155	166	141	102	163	210	266	74.5	117	84.3	72.7	66.8	92.7	52.6	50.3	60.3	161	42.9	25.7	26.9	64.5	44.5	29.8	10.5	135	94.2	33.4	36.5	112	77.3	44.7	104
Other income	4.4	8.1	4.1	3.5	4.6	11.1	5.3	3.7	2.7	2.7	2.1	2.6	2.2	1.7	2.6	1.3	1.8	2.5	2	1.9	1.2	1.1	0.2	0.3	0.2	0.6	0.3	1.1	0.3	0.5	0.6	1	3.8
Total expenses	188	109	132	119	89.8	139	157	205	69.8	91.7	68.1	59.4	56	79.6	48.6	43.8	51.7	141	35.6	24.3	25.2	56.2	37	27.9	15.5	114	61.4	29.2	31.8	85.1	62.7	42.3	81.8
EBITDA	156	59.3	41.6	29.5	21.5	33.6	59.4	66	9.2	31.3	19.9	33.9	26.3	20.3	8.7	9.1	10.8	22	12	6.8	8.2	14.9	14.4	9.1	2.2	28	39.1	11.2	10.4	33.3	20.2	8.1	27
EBITDA margin	49.2%	38.2%	25.0%	21.0%	21.1%	20.6%	28.3%	24.8%	12.3%	26.7%	23.7%	46.6%	39.4%	21.9%	16.6%	18.1%	17.9%	13.6%	28.0%	26.4%	30.5%	23.2%	32.5%	30.5%	20.4%	20.7%	41.5%	33.6%	28.4%	29.7%	26.2%	18.1%	25.9%
Finance costs	22.1	11.5	5.1	6.4	7.9	7.8	5.1	4.6	3.4	4.5	2.6	19.2	14.6	6.4	4	2	1.6	1.3	4.4	5	6.2	6.4	6.7	6.9	6.8	6.2	6.1	6.7	5.3	6	5.3	5.3	4.2
Depreciation	4.8	1.7	1.7	1.4	1.6	1.3	1.2	1.3	1.1	1.2	1.1	1.3	0.9	0.8	0.7	0.6	0.6	0.6	0.3	0.3	0.3	0.2	0.3	0.4	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3
Profit before tax	134	54.3	38.9	25.3	16.6	35.6	58.4	63.8	7.4	28.4	18.3	15.9	13.1	14.8	6.7	7.8	10.3	22.6	9.3	3.4	3	9.4	7.7	2.1	−4.7	22.1	33.1	5.3	5	27.5	15.2	3.5	26.3
Tax	36.5	10.1	9.7	7.2	4.6	13.8	8.2	21.2	2.8	8.9	6.7	5.1	4	4.3	1.6	2.9	2.9	7.7	3.4	1.1	0.7	2.8	2.4	0.1	0.2	7.3	12.3	2.5	2.2	9.5	5	1.7	9.1
Net profit	97.4	44.2	29.2	18.1	12	21.8	50.2	42.6	4.6	19.5	11.7	10.8	9.1	10.5	5.1	4.9	7.4	14.2	5.9	2.3	2.3	6.6	5.3	2	−4.9	14.7	20.8	2.9	2.8	18.1	10.1	1.8	17.1
Net margin	30.7%	28.4%	17.6%	12.9%	11.8%	13.3%	23.9%	16.0%	6.2%	16.6%	13.8%	14.9%	13.6%	11.3%	9.6%	9.7%	12.3%	8.8%	13.8%	9.1%	8.4%	10.3%	12.0%	6.7%	-46.9%	10.9%	22.1%	8.5%	7.5%	16.1%	13.1%	4.1%	16.4%
EPS (₹)	21.80	9.63	6.27	3.09	2.44	4.20	10.49	8.95	0.64	3.42	2.07	1.91	1.77	2.05	0.94	1.13	1.71	3.29	1.43	0.71	0.70	1.85	1.42	0.55	-1.36	4.14	5.47	0.72	0.73	4.97	2.91	0.53	5.11
Net profit YoY	+714.2%	+103.0%	−41.8%	−57.6%	+159.0%	+11.6%	+330.7%	+293.3%	−49.3%	+86.1%	+130.3%	+121.4%	+23.1%	−26.4%	−14.6%	+108.6%	+226.4%	+114.2%	+11.0%	+18.0%	+145.8%	−54.8%	−74.4%	−30.3%	−279.2%	−18.7%	+105.4%	+56.2%	–	+5.6%	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Revenue from operations	564	713	341	256	257	149	299	262	198
Other income	20.4	22.8	9.7	7.3	7.6	1.9	2.2	2.3	4
Total expenses	449	571	275	224	226	137	236	217	154
EBITDA	152	168	111	48.9	49.1	40.6	88.8	68	61
EBITDA margin	26.9%	23.6%	32.7%	19.1%	19.1%	27.2%	29.6%	25.9%	30.7%
Finance costs	30.9	20.8	40.9	14	16.8	26.9	24.3	21.3	15.4
Depreciation	6.3	4.9	4.5	2.7	1.5	1.1	1.1	1.2	1.1
Profit before tax	135	165	75.7	39.6	38.3	14.5	65.5	47.8	48.5
Tax	31.7	46.1	24.6	11.8	12.8	5.5	24.2	16.6	16.9
Net profit	103	119	51.1	27.8	24.8	9	41.1	31.2	31.4
Net margin	18.3%	16.7%	15.0%	10.9%	9.6%	6.0%	13.7%	11.9%	15.9%
EPS (₹)	21.04	24.28	9.17	5.83	6.47	2.46	11.08	8.90	10.01
Net profit YoY	−13.2%	+133.2%	+83.6%	+12.3%	+174.3%	−78.1%	+32.0%	−0.8%	–

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	−170	−84	30.5	−101	161
Investing cash flow	−6.2	−109	−27.8	−81.5	29.3
Financing cash flow	248	186	−3.3	95.3	−74
Capital expenditure	47	15.5	15.9	10.5	9.5
Free cash flow (CFO − capex)	−217	−99.5	14.6	−112	151

Net profit trend

annual, ₹ crore

FY21

₹9

FY22

₹24.8+174%

FY23

₹27.8+12%

FY24

₹51.1+84%

FY25

₹119+133%

FY26

₹103−13%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	7 Aug 2026	PDF on NSE XBRL
Q1 FY27	Standalone	7 Aug 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	20 May 2026	PDF XBRL
Q4 FY26	Standalone · audited	20 May 2026	PDF XBRL
Q3 FY26	Consolidated	10 Feb 2026	PDF XBRL
Q3 FY26	Standalone	10 Feb 2026	PDF XBRL
Q2 FY26	Consolidated	3 Nov 2025	PDF on NSE XBRL
Q2 FY26	Standalone	3 Nov 2025	PDF on NSE XBRL
Q1 FY26	Consolidated	28 Jul 2025	PDF XBRL
Q1 FY26	Standalone	28 Jul 2025	PDF XBRL

Annual reports

NSE archive

FY2614.77 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 39.7×14.9×

P/B5Y avg 4.53×4.34×

ROEFY26, on average equity16.6%

Net margin18.3%

Debt / equity0.89×

Revenue CAGR (3Y)30.1%

Profit CAGR (3Y)54.9%

EPS (TTM)₹41.17

Market cap₹2,816 Cr

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

P/B vs history

4.34×

vs 8-point avg 4.53× (−4%)

2.44× low4.53× avg7.20× high

History points are balance-sheet dates (2022 → 2026), priced at the adjusted close on each date.

Balance sheet 31 Mar 2026

Total assets₹3,594 Cr+35%

Net worth₹649 Cr+9%

Total borrowings₹577 Cr+107%

Cash & bank balances₹126 Cr+129%

Investments₹121 Cr−35%

Inventories₹2,222 Cr+49%

Trade receivables₹15 Cr+6%

Trade payables₹202 Cr+8%

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	53.83	53.83	49.82	49.82	49.96	50.27	50.28	50.28	50.38	50.51	50.43	50.43
FII	0.69	0.67	0.83	1.00	1.60	2.01	2.65	2.51	1.82	0.41	0.49	0.85
DII	8.98	8.61	15.82	14.71	13.89	12.65	12.86	12.77	12.34	13.52	11.66	11.61
of which MF	6.90	6.57	5.00	3.89	2.30	–	–	–	–	–	–	–
Retail	27.12	27.41	25.16	25.74	25.75	24.78	23.65	23.75	24.44	24.97	25.03	24.36
Other public	9.38	9.48	8.37	8.73	8.80	10.29	10.56	10.69	11.02	10.59	12.39	12.75

92,477 shareholders · NSE shareholding pattern filings.