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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	Q3 FY19	Q2 FY19	Q4 FY18
Revenue from operations	107	323	362	166	293	218	133	54.5	123	290	184	346	121	111	130	86.8	80	74.7	51.4	57.7	36.4	78.3	73.3	47.2	36	89.4	73.8	72.7	61.8	67.5	93.8
Other income	12.3	12.4	11.5	10.6	10	11.6	6.8	5	5.4	7.3	4.8	4.9	8	6.3	5.4	4.9	1.2	3.6	2.8	2.9	4.1	3.1	16.4	2.8	2.2	9.2	3	2.7	9.1	3.9	13.4
Total expenses	103	306	297	140	285	203	120	70	133	272	155	316	116	105	123	94.4	68.4	70.6	58.5	67	47.9	87.6	75.7	54.2	41.6	94.9	82.5	87.1	65.3	69.3	91.5
EBITDA	7.6	20.2	68.3	29.1	11.8	17.9	17.1	−11.7	−5.8	20.3	32.7	33.3	8	7.7	10.3	−4.8	14.8	6.5	−3.7	−5.6	−7.7	−5.4	2	−2	−1	−0.1	−2.9	−8.1	1.9	4.4	8
EBITDA margin	7.0%	6.3%	18.9%	17.6%	4.0%	8.2%	12.9%	-21.5%	-4.7%	7.0%	17.7%	9.6%	6.6%	7.0%	7.9%	-5.5%	18.4%	8.7%	-7.2%	-9.7%	-21.2%	-6.9%	2.8%	-4.3%	-2.8%	-0.2%	-4.0%	-11.1%	3.0%	6.5%	8.5%
Finance costs	0.3	0.6	0.4	0.2	0.5	−0.3	3.4	0.7	1.5	0.3	0.4	0.6	0.8	0.6	0.8	0.7	0.9	0.9	1.1	1.3	1.5	2	1.9	2.7	2.4	3.3	3.3	3.6	3.7	4.5	4.2
Depreciation	3.3	3.3	3.4	3.4	3.3	3.4	0.5	3.1	2.7	2.5	2.6	2.3	2.2	2	2.2	2.1	2.2	1.5	2.3	2.4	2.2	2	2.4	2.2	2.2	2.1	2.4	2.8	1.7	1.8	1.5
Profit before tax	16.3	28.7	76.1	36.2	18.1	26.3	15	−10.5	−4.6	24.8	34.6	35.4	13	11.5	12.7	−2.7	12.9	7.7	−7.4	−6.3	−8.6	−6.3	14	−4.1	−3.5	−13.7	−5.7	−11.7	5.6	2	15.7
Tax	3.2	7.7	19.4	8.6	5.3	5.9	4.1	−2.9	0.9	7.4	6.8	8	2.1	1.1	3.6	−0.9	2.6	1.4	−3.6	−0.6	−2.3	−0.6	1.2	−1.8	−0.2	−5.6	1.5	−2.2	2.1	−0	1.5
Net profit	13.1	21	56.7	27.5	12.7	20.3	10.9	−7.6	−5.4	17.4	27.8	27.4	10.9	10.4	9.1	−1.8	10.2	6.3	−3.8	−5.7	−6.3	−5.6	12.9	−2.3	−3.3	−8.1	−7.1	−9.5	3.4	2.1	14.2
Net margin	12.2%	6.5%	15.7%	16.6%	4.3%	9.3%	8.2%	-13.8%	-4.4%	6.0%	15.1%	7.9%	9.0%	9.4%	7.0%	-2.1%	12.8%	8.5%	-7.5%	-9.9%	-17.4%	-7.2%	17.5%	-4.9%	-9.1%	-9.1%	-9.6%	-13.1%	5.6%	3.0%	15.1%
EPS (₹)	1.36	2.20	5.66	2.82	1.31	2.06	1.11	-0.80	-0.51	1.72	2.78	2.72	1.09	1.03	0.91	-0.13	1.01	0.65	-0.32	-0.62	-0.60	-0.51	1.30	-0.17	-0.22	-0.84	0.00	-0.88	0.57	0.26	1.79
Net profit YoY	+3.0%	+3.1%	+420.3%	+464.6%	+334.0%	+17.0%	−60.8%	−127.6%	−150.0%	+67.4%	+207.1%	+1611.0%	+6.3%	+64.5%	+335.7%	+68.5%	+261.9%	+211.9%	−129.9%	−150.7%	−93.3%	+30.5%	+280.9%	+75.9%	–	–	−306.7%	−564.4%	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY18
Revenue from operations	1,143	529	944	407	222	242	299	359
Other income	44.4	28.7	22.7	17.8	11.9	17.3	19.1	28.6
Total expenses	1,028	526	859	391	244	259	340	286
EBITDA	130	17.5	96.6	28	−9	0.9	−18.3	91.7
EBITDA margin	11.3%	3.3%	10.2%	6.9%	-4.0%	0.4%	-6.1%	25.6%
Finance costs	1.7	2.4	2.1	3	4.9	9	13.6	11.9
Depreciation	13.3	12.6	9.5	8.4	8.4	8.9	9.2	7.3
Profit before tax	159	26.2	108	34.3	−14.6	0.3	−39.4	101
Tax	41.1	8	24.4	6.5	−7.6	−1.4	−9.2	10.5
Net profit	118	18.2	83.4	27.9	−7.1	1.7	−30.2	90.5
Net margin	10.3%	3.4%	8.8%	6.8%	-3.2%	0.7%	-10.1%	25.2%
EPS (₹)	11.99	1.86	8.33	2.81	-0.64	0.40	-2.83	4.51
Net profit YoY	+546.3%	−78.1%	+199.2%	+494.8%	−510.5%	+105.7%	–	–

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	342	234	212	11.6	−62
Investing cash flow	−52.3	−123	−9.9	31.9	−47.1
Financing cash flow	−58.2	52.3	−128	−14.4	82.6
Capital expenditure	28.2	39.7	31.7	16	5.5
Free cash flow (CFO − capex)	314	194	181	−4.4	−67.5

Net profit trend

annual, ₹ crore

FY21

₹1.7

FY22

₹−7.1−510%

FY23

₹27.9+495%

FY24

₹83.4+199%

FY25

₹18.2−78%

FY26

₹118+546%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	11 Aug 2026	PDF on NSE XBRL
Q1 FY27	Standalone	11 Aug 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	27 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	–	PDF on NSE XBRL
Q4 FY26	Standalone · audited	27 May 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	10 Feb 2026	PDF XBRL
Q3 FY26	Standalone	10 Feb 2026	PDF XBRL
Q2 FY26	Consolidated	12 Nov 2025	PDF XBRL
Q2 FY26	Standalone	12 Nov 2025	PDF XBRL
Q1 FY26	Consolidated	12 Aug 2025	PDF XBRL

Annual reports

NSE archive

FY2513.48 MB FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17 FY16

Key ratios

P/E (TTM)5Y avg 69.8×33.1×

P/B5Y avg 3.26×4.56×

ROEFY26, on average equity14.5%

Net margin10.3%

Debt / equity0.36×

Revenue CAGR (3Y)41.0%

Profit CAGR (3Y)61.7%

EPS (TTM)₹11.77

Market cap₹3,916 Cr

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

P/B vs history

4.56×

vs 8-point avg 3.26× (+40%)

2.15× low3.26× avg4.56× high

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

Balance sheet 31 Mar 2026

Total assets₹4,284 Cr+23%

Net worth₹859 Cr+13%

Total borrowings₹305 Cr+17%

Cash & bank balances₹325 Cr+91%

Investments₹286 Cr+39%

Inventories₹2,701 Cr+18%

Trade receivables₹43 Cr+7%

Trade payables₹82 Cr+11%

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	61.11	61.11	61.11	61.11	61.11	61.11	61.11	61.11	61.11	61.11	61.11	61.11
FII	8.18	8.28	7.89	7.87	7.87	7.74	7.47	7.46	8.34	8.28	8.24	7.86
DII	8.08	8.07	8.06	8.06	8.06	7.75	7.75	7.85	6.99	7.09	7.34	7.40
of which MF	7.98	7.98	7.98	7.98	7.98	–	–	–	–	–	–	–
Retail	15.19	15.01	15.44	15.50	15.40	15.88	16.17	16.20	16.29	16.21	16.24	16.41
Other public	7.44	7.53	7.50	7.46	7.56	7.52	7.50	7.38	7.27	7.31	7.07	7.22

24,051 shareholders · NSE shareholding pattern filings.