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 | 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 | 183 | 273 | 343 | 299 | 244 | 268 | 274 | 264 | 224 | 256 | 231 | 251 | 215 | 226 | 216 | 196 | 184 | 193 | 136 | 112 | 149 | 125 | 143 | 106 | 192 | 167 | 157 | 153 | 161 | 159 | 162 | 149 |
| Other income | 2.5 | 4.3 | 1.9 | 5.9 | 10.6 | 3.9 | 2.8 | 4.7 | 10.3 | 5.6 | 2.4 | 2.1 | 1.7 | 1.1 | 1.8 | 4.2 | 2.7 | 2.8 | 3.3 | 2.7 | 3.1 | 3 | 4.1 | 4.3 | 1.4 | 3.3 | 3.9 | 3 | 6.2 | 1.4 | 1.5 | 8.4 |
| Total expenses | 192 | 263 | 298 | 269 | 226 | 248 | 252 | 250 | 210 | 245 | 223 | 236 | 208 | 200 | 202 | 172 | 169 | 175 | 134 | 111 | 140 | 119 | 139 | 111 | 177 | 158 | 154 | 153 | 167 | 159 | 178 | 166 |
| EBITDA | 8.7 | 33.6 | 62.8 | 47.1 | 34.1 | 37.5 | 40 | 32.9 | 31.3 | 32.3 | 29.2 | 35.8 | 34 | 46.7 | 31.9 | 39.4 | 23.7 | 28.9 | 11.5 | 10.4 | 20 | 17.6 | 17.7 | 8.6 | 33.2 | 23.9 | 16.6 | 13.9 | 7.2 | 10.8 | −6.5 | −7.1 |
| EBITDA margin | 4.7% | 12.3% | 18.3% | 15.7% | 14.0% | 14.0% | 14.6% | 12.4% | 14.0% | 12.6% | 12.6% | 14.2% | 15.8% | 20.7% | 14.8% | 20.1% | 12.9% | 15.0% | 8.5% | 9.3% | 13.4% | 14.1% | 12.4% | 8.1% | 17.3% | 14.3% | 10.6% | 9.1% | 4.4% | 6.8% | -4.0% | -4.8% |
| Finance costs | 8.9 | 10.1 | 7 | 6.6 | 7.3 | 8.4 | 7.3 | 8.6 | 8.1 | 12.5 | 12.1 | 11.6 | 20.1 | 14.1 | 11.5 | 8.5 | 1.8 | 4.1 | 4.2 | 3.9 | 4.7 | 5.2 | 6 | 6.6 | 6.5 | 7.9 | 7 | 7 | 7.7 | 6.1 | 4.2 | 6.2 |
| Depreciation | 8.8 | 13.8 | 11 | 10.2 | 9.4 | 9.6 | 10.8 | 9.9 | 9.3 | 9.5 | 8.5 | 8.7 | 7.1 | 6.7 | 6.3 | 7.1 | 6.4 | 7.2 | 5.9 | 5.8 | 6.1 | 6 | 7.2 | 6.7 | 11.7 | 7 | 6.7 | 7.4 | 4.8 | 4.8 | 4.9 | 4.5 |
| Profit before tax | −6.4 | 10.7 | 38.8 | 36.3 | 28 | 21.4 | 23.1 | 18.8 | 24.2 | 15.9 | 11 | 17.6 | 8.5 | 27 | −7.8 | 28.1 | −26.3 | 18.8 | 4.7 | 3.3 | −7.5 | 9.4 | −12.3 | −0.4 | 16.4 | 12.4 | 6.9 | 2.4 | 0.8 | 1.4 | 0.4 | −9.3 |
| Tax | 0.6 | 10.1 | 11.2 | 13.1 | 7.1 | −10.1 | 8.4 | 6.5 | 7.4 | 6.9 | 3.5 | 6.4 | 2.8 | 10.9 | 2.5 | 7 | 5.4 | 7.8 | 2 | 2 | 3 | 4 | 3.2 | 0.6 | 0.2 | 4.2 | 2.3 | 1.4 | −0.5 | 2 | 0.3 | 3.1 |
| Net profit | −14.8 | 0.4 | 27.7 | 23.1 | 20.9 | 31.5 | 14.8 | 12.3 | 16.8 | 9 | 7.5 | 11.2 | 5.7 | 16 | −10.2 | 21.1 | −31.7 | 10.6 | 2.8 | 1.3 | −10.5 | 5.6 | −15.4 | −0.8 | 16.4 | 8.2 | 4.7 | 1.1 | 0.8 | −0.6 | 0.1 | −12.5 |
| Net margin | -8.0% | 0.2% | 8.1% | 7.7% | 8.6% | 11.8% | 5.4% | 4.6% | 7.5% | 3.5% | 3.3% | 4.4% | 2.7% | 7.1% | -4.7% | 10.8% | -17.2% | 5.5% | 2.0% | 1.2% | -7.1% | 4.5% | -10.8% | -0.8% | 8.5% | 4.9% | 3.0% | 0.7% | 0.5% | -0.4% | 0.1% | -8.4% |
| EPS (₹) | -1.66 | 0.10 | 6.52 | 5.42 | 4.88 | 7.24 | 3.50 | 2.93 | 4.07 | 2.11 | 1.93 | 2.89 | 1.47 | 4.17 | -2.72 | 5.52 | -8.38 | 2.78 | 0.70 | 0.32 | -2.81 | 1.45 | -4.12 | -0.26 | 4.30 | 2.12 | 1.20 | 0.25 | 0.18 | -0.19 | -0.01 | -3.33 |
| Net profit YoY | −170.8% | −98.7% | +87.4% | +88.8% | +24.4% | +250.4% | +95.8% | +9.7% | +193.8% | −44.0% | +173.7% | −47.0% | +118.0% | +50.7% | – | +660.0% | −2479.3% | +201.3% | +118.0% | +256.9% | −164.2% | −31.6% | −430.4% | −178.4% | +1972.8% | +1428.6% | +5537.5% | – | +106.3% | – | – | – |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 1,159 | 1,031 | 952 | 822 | 610 | 524 | 673 | 604 | 519 |
| Other income | 22.8 | 20.8 | 12.8 | 6 | 9.1 | 14.5 | 7.6 | 12.4 | 15.1 |
| Total expenses | 1,057 | 960 | 912 | 738 | 580 | 508 | 642 | 639 | 534 |
| EBITDA | 178 | 142 | 130 | 146 | 70.6 | 64 | 91.7 | 8.5 | 17.6 |
| EBITDA margin | 15.3% | 13.8% | 13.7% | 17.7% | 11.6% | 12.2% | 13.6% | 1.4% | 3.4% |
| Finance costs | 31 | 32.3 | 56.4 | 35.9 | 15.8 | 22.5 | 28.3 | 23.6 | 13.7 |
| Depreciation | 44.4 | 39.6 | 33.8 | 26.5 | 25.1 | 26 | 32.7 | 19.7 | 18.8 |
| Profit before tax | 114 | 87.5 | 53 | 21.1 | 37.2 | −10.8 | 38.2 | −7.8 | −2.8 |
| Tax | 41.5 | 12.2 | 19.6 | 25.8 | 14.1 | 10.8 | 8.1 | −0.7 | 5 |
| Net profit | 72.1 | 75.3 | 33.4 | −4.8 | 22.7 | −21.2 | 30.3 | −7.7 | −7.8 |
| Net margin | 6.2% | 7.3% | 3.5% | -0.6% | 3.7% | -4.0% | 4.5% | -1.3% | -1.5% |
| EPS (₹) | 16.92 | 17.76 | 8.40 | -1.37 | 5.86 | -5.74 | 7.87 | -2.15 | -2.18 |
| Net profit YoY | −4.3% | +125.3% | +796.3% | −121.2% | +206.9% | −170.0% | +494.7% | +1.8% | – |
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 | −1.4 | 88.3 | 78.9 | 70.6 | 31.2 |
| Investing cash flow | −70.7 | 8.6 | −163 | −201 | 29.6 |
| Financing cash flow | 37.7 | −99.5 | 63.9 | 133 | −42.3 |
| Capital expenditure | 133 | 37.9 | 20.4 | 10.9 | 13.6 |
| Free cash flow (CFO − capex) | −135 | 50.4 | 58.6 | 59.8 | 17.6 |
Net profit trend
annual, ₹ croreFY21
₹−21.2
FY22
₹22.7+207%
FY23
₹−4.8−121%
FY24
₹33.4+796%
FY25
₹75.3+125%
FY26
₹72.1−4%
Result filings
as filed with NSE · PDF and XBRL| Period | Basis | Filed | Documents |
|---|---|---|---|
| Q1 FY27 | Consolidated | 13 Aug 2026 | PDF on NSE XBRL |
| Q1 FY27 | Standalone | 13 Aug 2026 | PDF on NSE XBRL |
| Q4 FY26 | Consolidated · audited | 27 May 2026 | PDF on NSE XBRL |
| Q4 FY26 | Standalone · audited | 27 May 2026 | PDF on NSE XBRL |
| Q3 FY26 | Consolidated | 9 Feb 2026 | PDF on NSE XBRL |
| Q3 FY26 | Standalone | 9 Feb 2026 | PDF on NSE XBRL |
| Q2 FY26 | Consolidated | 12 Nov 2025 | PDF on NSE XBRL |
| Q2 FY26 | Standalone | 12 Nov 2025 | PDF on NSE XBRL |
| Q1 FY26 | Consolidated | 7 Aug 2025 | PDF on NSE XBRL |
| Q1 FY26 | Standalone | 7 Aug 2025 | PDF on NSE XBRL |
Annual reports
NSE archiveKey ratios
P/E (TTM)5Y avg 70.1×220.9×
P/B5Y avg 5.54×11.07×
ROEFY26, on average equity10.5%
Net margin6.2%
Debt / equity0.38×
Revenue CAGR (3Y)12.1%
Profit CAGR (3Y)–
EPS (TTM)₹8.57
Market cap₹8,051 Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
11.07×
vs 8-point avg 5.54× (+100%)
2.27× low5.54× avg11.07× high
History points are balance-sheet dates (2022 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹1,466 Cr+30%
Net worth₹728 Cr+12%
Total borrowings₹276 Cr+46%
Cash & bank balances₹18 Cr−66%
Investments₹5 Cr−90%
Inventories₹79 Cr+30%
Trade receivables₹411 Cr+36%
Trade payables₹143 Cr+146%
Change vs the same date a year earlier.
Revenue mix FY26
(a) Technology Services and Solutions67.4%result ₹66.4 Cr
(b) Strategic Technology Solutions32.6%result ₹82.9 Cr
Segment revenue as reported, before inter-segment eliminations.