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Quarterly results

consolidated · as filed with NSE · Q1 FY27 back to Q3 FY19

₹ 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
Revenue from operations	1,907	1,695	1,639	1,576	1,498	1,453	1,401	1,318	1,239	1,258	1,244	1,179	1,135	1,197	1,186	1,190	1,110	1,065	932	687	522	614	522	441	207	490	519	503	479	494	485
Other income	13	12.1	9	8.7	8.1	8.2	6.9	6.6	9	15	12.4	9.2	7.4	9.5	8.2	10.1	9.1	10.2	8.1	15	8.2	19.2	8.8	8	8.4	11.7	10.3	11.6	10.7	11.6	11.7
Total expenses	1,742	1,492	1,437	1,369	1,288	1,264	1,217	1,087	1,015	1,048	1,026	964	944	1,065	993	1,013	934	972	763	489	345	438	336	257	152	346	385	389	367	383	405
EBITDA	270	301	305	295	293	266	265	306	296	288	288	280	248	195	230	226	219	131	203	231	207	205	213	210	77.4	168	156	136	135	140	107
EBITDA margin	14.2%	17.8%	18.6%	18.7%	19.6%	18.3%	18.9%	23.2%	23.9%	22.9%	23.2%	23.7%	21.8%	16.3%	19.4%	19.0%	19.7%	12.3%	21.8%	33.7%	39.7%	33.3%	40.7%	47.5%	37.4%	34.3%	30.1%	27.0%	28.2%	28.2%	22.1%
Finance costs	39.1	34.9	40.6	26.3	27.6	23.7	27.5	23	26.5	29.1	31.4	27.3	23.7	32.1	6.3	21.3	18.7	15.3	13.5	12.7	11.3	11.4	10.1	10.2	8.9	10	9.9	10.8	10.3	10.5	10.4
Depreciation	66.7	63.4	62.4	61.7	55.6	53.3	53.2	51.4	45.7	48.9	38.6	37.6	32.8	30.9	31.1	27.4	23.8	22.5	21	20.7	18.6	17.1	16.1	15	14.3	13.6	12.9	11.7	12.6	18.2	17.1
Profit before tax	177	215	211	216	218	197	191	238	233	225	230	224	199	142	201	188	185	104	177	213	185	191	195	182	62.6	156	144	125	123	120	66.1
Tax	45.2	58.6	55.1	55.4	57.1	49.1	49.7	61.8	59.9	61.3	59.2	57.2	51.1	37.8	52.7	48.2	47.4	27.8	45.4	54.2	47.1	46.1	50.2	46.7	16.3	34	29.2	4.6	43.4	44.2	20.6
Net profit	142	168	159	163	165	155	142	186	172	168	177	173	150	97.9	150	160	138	81.1	128	158	143	144	146	134	38.9	121	116	120	79.3	75.8	47.2
Net margin	7.4%	9.9%	9.7%	10.4%	11.0%	10.6%	10.2%	14.1%	13.9%	13.3%	14.2%	14.6%	13.2%	8.2%	12.7%	13.4%	12.5%	7.6%	13.7%	23.0%	27.3%	23.4%	27.9%	30.4%	18.8%	24.8%	22.3%	23.9%	16.6%	15.3%	9.7%
EPS (₹)	1.29	1.53	1.44	1.49	1.50	1.41	1.30	1.69	1.56	1.53	1.61	1.57	1.37	0.89	1.37	1.45	1.26	0.74	1.16	1.44	1.30	1.31	1.33	1.22	0.35	1.11	1.05	1.09	0.72	0.69	0.43
Net profit YoY	−14.2%	+8.9%	+11.4%	−11.9%	−3.8%	−8.0%	−19.4%	+7.5%	+14.4%	+71.5%	+17.6%	+7.9%	+8.6%	+20.7%	+17.7%	+1.2%	−3.0%	−43.6%	−12.5%	+17.7%	+266.4%	+18.4%	+26.3%	+11.9%	−50.9%	+60.3%	+144.7%	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19
Revenue from operations	6,409	5,412	4,816	4,683	3,206	1,784	1,991	1,823
Other income	37.9	30.8	44	36.9	41.5	44.4	44.4	86.7
Total expenses	5,587	4,583	3,982	4,005	2,569	1,183	1,488	1,526
EBITDA	1,195	1,133	1,104	870	773	704	595	455
EBITDA margin	18.6%	20.9%	22.9%	18.6%	24.1%	39.5%	29.9%	24.9%
Finance costs	129	101	111	78.4	52.7	40.5	41.1	89.9
Depreciation	243	204	158	113	82.7	62.5	50.7	67.3
Profit before tax	860	860	878	715	679	631	547	357
Tax	226	220	229	186	174	159	111	128
Net profit	656	654	668	546	509	463	436	229
Net margin	10.2%	12.1%	13.9%	11.7%	15.9%	25.9%	21.9%	12.5%
EPS (₹)	5.96	5.95	6.07	4.97	4.63	4.21	3.97	2.08
Net profit YoY	+0.2%	−2.0%	+22.1%	+7.3%	+10.1%	+6.1%	+90.8%	–

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	1,149	964	955	853	736
Investing cash flow	−1,236	−933	−752	−1,167	−1,137
Financing cash flow	117	56.4	−77.7	295	422
Capital expenditure	988	941	799	1,175	951
Free cash flow (CFO − capex)	161	23	156	−323	−215

Net profit trend

annual, ₹ crore

FY21

₹463

FY22

₹509+10%

FY23

₹546+7%

FY24

₹668+22%

FY25

₹654−2%

FY26

₹656+0%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	21 Jul 2026	PDF on NSE XBRL
Q1 FY27	Standalone	21 Jul 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	27 Apr 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	27 Apr 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	22 Jan 2026	PDF on NSE XBRL
Q3 FY26	Standalone	22 Jan 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	28 Oct 2025	PDF XBRL
Q2 FY26	Standalone	28 Oct 2025	PDF XBRL
Q1 FY26	Consolidated	28 Jul 2025	PDF XBRL
Q1 FY26	Standalone	28 Jul 2025	PDF XBRL

Annual reports

NSE archive

FY2614.89 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19

Key ratios

P/E (TTM)5Y avg 128.5×106.4×

P/B5Y avg 35.39×13.83×

ROEFY26, on average equity14.5%

Net margin10.2%

Debt / equity0.45×

Revenue CAGR (3Y)11.0%

Profit CAGR (3Y)6.3%

EPS (TTM)₹5.75

Market cap₹67,269 Cr

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

P/B vs history

13.83×

vs 8-point avg 35.39× (−61%)

11.53× low35.39× avg136.73× high

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

Balance sheet 31 Mar 2026

Total assets₹9,549 Cr+25%

Net worth₹4,865 Cr+16%

Total borrowings₹2,168 Cr+18%

Cash & bank balances₹253 Cr+13%

Investments₹900 Cr+1968%

Inventories₹111 Cr−4%

Trade receivables₹419 Cr−1%

Trade payables₹374 Cr+19%

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	74.80	74.80	74.80	74.80	74.80	74.80	74.80	74.80	74.80	74.80	74.80	74.80
FII	12.76	12.75	12.81	12.88	13.01	13.22	13.06	13.07	12.96	13.14	13.06	13.94
DII	6.35	6.26	6.25	6.24	6.31	6.23	6.27	6.13	6.15	6.12	6.14	6.15
of which MF	0.20	0.15	0.13	0.12	0.21	–	–	–	–	–	–	–
Retail	5.49	5.67	5.63	5.54	5.34	5.19	5.36	5.46	5.54	5.37	5.45	4.64
Other public	0.60	0.52	0.51	0.54	0.54	0.56	0.51	0.54	0.55	0.57	0.55	0.47

5,96,758 shareholders · NSE shareholding pattern filings.