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Quarterly results

consolidated · as filed with NSE · Q1 FY27 back to Q4 FY17

₹ 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 FY17
Revenue from operations	177	488	260	215	200	408	259	230	155	354	231	190	134	258	220	175	162	239	202	180	129	251	181	110	99	175	151	110	31.6	0
Other income	2.4	7	3.2	5.7	2.5	11	2.3	2.2	2.1	2.7	3.6	3.4	2	1	1.6	2.1	0.8	1.8	1.1	2.5	0.9	5.8	1.5	0.3	3.3	6.6	1.9	2.8	0.9	0
Total expenses	166	353	202	190	183	319	207	199	150	289	180	161	144	240	184	148	150	225	188	178	114	221	169	117	104	169	120	85	44.4	0
EBITDA	33.1	162	82.5	47.8	41	120	76.2	49.2	24	80.7	66.1	41.7	3.1	34.3	50.9	39.3	23.1	25.7	25.9	12.1	25.5	48.4	23	1.5	4.3	14.7	38.9	33.5	−4.6	0
EBITDA margin	18.7%	33.3%	31.7%	22.3%	20.5%	29.3%	29.5%	21.4%	15.5%	22.8%	28.6%	21.9%	2.3%	13.3%	23.1%	22.5%	14.3%	10.7%	12.8%	6.7%	19.8%	19.2%	12.7%	1.4%	4.3%	8.4%	25.8%	30.4%	-14.5%	–
Finance costs	10.8	14.5	13	13.5	14.6	19.2	14.9	12.6	10.4	9.5	8.1	6.2	7.4	9.6	8.2	7	5.7	4.6	5.5	5.3	5.7	12.2	5.1	2.5	3.3	3.1	1.7	1.7	2	0
Depreciation	11.9	13	11.4	10.1	9.3	11.1	9.5	6.2	8.2	6.4	6.6	6.3	5.7	6.3	6	5.8	5.5	6.2	5.9	5.1	4.8	6	5.9	5.9	5.8	6.6	6.6	6.4	6.2	0
Profit before tax	12.8	142	61.4	30	19.5	100	54	32.6	7.5	67.5	55	32.6	−8	19.3	38.3	28.6	12.7	16.7	15.6	4.3	15.9	36	13.4	−6.6	−1.5	11.6	32.5	28.2	−11.9	0
Tax	3.4	35.1	19.4	8.5	4.8	25.6	14.1	8.3	2.1	16.9	14.1	8.4	−1.4	4.4	10.5	7.6	3.6	4.7	4.3	0.5	2.9	8.3	2.4	−0.3	−0.7	1.9	9.6	7	−3.4	0
Net profit	12.3	106	46.8	23.9	16.3	73.5	47.4	25.4	7.2	54.4	43.4	30	−6.7	13.5	27.7	20.5	8.1	10.9	11.4	3.4	12.2	27	10.3	−6.9	−1.6	10.3	22.6	20	−8.8	0
Net margin	7.0%	21.7%	18.0%	11.1%	8.1%	18.0%	18.3%	11.1%	4.6%	15.4%	18.8%	15.8%	-5.0%	5.2%	12.6%	11.7%	5.0%	4.6%	5.6%	1.9%	9.5%	10.8%	5.7%	-6.3%	-1.6%	5.9%	15.0%	18.1%	-28.0%	–
EPS (₹)	1.30	11.16	4.93	2.52	1.71	7.74	5.00	2.67	0.76	5.73	4.57	3.16	-0.73	1.56	3.20	2.37	0.94	1.26	1.32	0.39	1.41	3.12	1.19	-0.80	-0.18	1.19	2.61	2.31	-1.02	0.00
Net profit YoY	−24.1%	+44.2%	−1.3%	−5.9%	+125.9%	+35.1%	+9.3%	−15.4%	+207.0%	+302.3%	+56.7%	+46.3%	−183.1%	+24.1%	+142.5%	+507.1%	−33.4%	−59.7%	+10.9%	+149.0%	+880.4%	+163.4%	−54.5%	−134.5%	+82.4%	–	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY17
Revenue from operations	1,163	1,051	909	816	750	641	467	0
Other income	18.5	17.5	11.7	5.5	6.4	10.9	12.2	0
Total expenses	928	874	774	722	704	610	419	0
EBITDA	334	269	192	148	89.2	77.2	82.5	0
EBITDA margin	28.7%	25.6%	21.1%	18.1%	11.9%	12.0%	17.7%	–
Finance costs	55.6	57.1	31.3	30.5	21.1	23.1	8.5	0
Depreciation	43.7	35	25	23.7	22	23.5	25.8	0
Profit before tax	253	194	147	98.9	52.5	41.4	60.4	0
Tax	67.8	50.2	37.9	26.1	12.3	9.7	15.1	0
Net profit	193	154	121	69.8	37.9	28.9	44	0
Net margin	16.6%	14.6%	13.3%	8.6%	5.0%	4.5%	9.4%	–
EPS (₹)	20.32	16.17	12.86	8.06	4.37	3.33	5.09	0.00
Net profit YoY	+25.7%	+26.8%	+73.4%	+84.4%	+31.3%	−34.5%	–	–

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	387	−90.1	−182	−25.4	110
Investing cash flow	80.8	76.3	−43.6	−28.3	−27.9
Financing cash flow	−362	−51.5	232	74.8	−72.4
Capital expenditure	−77.9	−72.3	43.6	33.3	27.9
Free cash flow (CFO − capex)	309	−162	−225	−58.7	82.3

Net profit trend

annual, ₹ crore

FY21

₹28.9

FY22

₹37.9+31%

FY23

₹69.8+84%

FY24

₹121+73%

FY25

₹154+27%

FY26

₹193+26%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	10 Aug 2026	PDF on NSE XBRL
Q1 FY27	Standalone	10 Aug 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	26 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	26 May 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	12 Feb 2026	PDF on NSE XBRL
Q3 FY26	Standalone	12 Feb 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	13 Nov 2025	PDF XBRL
Q2 FY26	Standalone	13 Nov 2025	PDF XBRL
Q1 FY26	Consolidated	13 Aug 2025	PDF XBRL
Q1 FY26	Standalone	13 Aug 2025	PDF XBRL

Annual reports

NSE archive

FY268.00 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 40.3×81.5×

P/B5Y avg 5.85×11.72×

ROEFY26, on average equity16.0%

Net margin16.6%

Debt / equity0.22×

Revenue CAGR (3Y)12.6%

Profit CAGR (3Y)40.3%

EPS (TTM)₹19.91

Market cap₹15,404 Cr

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

P/B vs history

11.72×

vs 8-point avg 5.85× (+100%)

3.32× low5.85× avg11.72× high

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

Balance sheet 31 Mar 2026

Total assets₹1,988 Cr+7%

Net worth₹1,315 Cr+20%

Total borrowings₹288 Cr−32%

Cash & bank balances₹175 Cr+599%

Investments₹1 Cr

Inventories₹616 Cr+0%

Trade receivables₹688 Cr−13%

Trade payables₹114 Cr+48%

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	6.54	6.54	6.54	6.54	6.54	6.54	6.54	6.54	6.54	6.54	6.54	6.54
FII	10.74	7.56	6.27	6.47	6.46	5.30	5.19	5.69	4.67	3.17	2.94	1.73
DII	16.09	15.42	14.76	14.55	14.37	15.31	15.36	14.99	13.57	13.60	14.79	15.25
of which MF	15.37	13.96	12.33	11.24	10.95	–	–	–	–	–	–	–
Retail	27.69	29.71	30.55	30.51	29.46	29.03	29.60	29.80	31.04	31.89	31.88	32.06
Other public	38.94	40.77	41.88	41.93	43.17	43.82	43.31	42.98	44.18	44.80	43.85	44.42

1,17,894 shareholders · NSE shareholding pattern filings.