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 | 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 | Q1 FY19 | Q4 FY18 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 21,689 | 17,832 | 16,204 | 15,735 | 13,133 | 12,646 | 13,169 | 13,247 | 11,932 | 11,555 | 12,165 | 10,838 | 10,312 | 8,929 | 9,319 | 10,203 | 7,975 | 9,022 | 8,762 | 7,386 | 8,596 | 8,910 | 7,156 | 3,079 | 6,816 | 7,640 | 7,707 | 7,756 | 7,395 | 7,409 | 7,987 | 7,419 | 6,773 |
| Other income | 688 | 661 | 436 | 576 | 509 | 392 | 348 | 399 | 335 | 360 | 356 | 369 | 351 | 264 | 271 | 334 | 289 | 348 | 318 | 329 | 284 | 369 | 286 | 338 | 427 | 366 | 393 | 337 | 433 | 470 | 382 | 310 | 366 |
| Total expenses | 17,950 | 15,391 | 12,908 | 12,677 | 10,682 | 10,219 | 10,640 | 10,767 | 9,704 | 9,393 | 9,855 | 8,806 | 8,479 | 7,364 | 7,645 | 8,531 | 6,687 | 7,722 | 7,430 | 6,335 | 7,143 | 7,247 | 5,957 | 2,736 | 5,627 | 6,335 | 6,491 | 6,619 | 6,295 | 6,321 | 6,716 | 6,209 | 5,546 |
| EBITDA | 4,531 | 3,075 | 3,730 | 3,463 | 2,793 | 2,693 | 2,751 | 2,654 | 2,370 | 2,284 | 2,415 | 2,130 | 1,932 | 1,657 | 1,757 | 1,750 | 1,361 | 1,371 | 1,400 | 1,118 | 1,522 | 1,729 | 1,266 | 408 | 1,253 | 1,367 | 1,279 | 1,197 | 1,162 | 1,155 | 1,342 | 1,280 | 1,316 |
| EBITDA margin | 20.9% | 17.2% | 23.0% | 22.0% | 21.3% | 21.3% | 20.9% | 20.0% | 19.9% | 19.8% | 19.9% | 19.7% | 18.7% | 18.6% | 18.9% | 17.1% | 17.1% | 15.2% | 16.0% | 15.1% | 17.7% | 19.4% | 17.7% | 13.3% | 18.4% | 17.9% | 16.6% | 15.4% | 15.7% | 15.6% | 16.8% | 17.3% | 19.4% |
| Finance costs | 387 | 344 | 314 | 287 | 224 | 147 | 120 | 75.2 | 47 | 29.6 | 12.1 | 6.5 | 12.1 | 15.8 | 8.5 | 10.9 | 2.9 | 1.8 | 1.7 | 2.3 | 2 | 1 | 2.7 | 1 | 0.9 | 0.5 | 1.2 | 0.5 | 0.3 | 3.6 | 0.3 | 0.3 | 0.3 |
| Depreciation | 405 | 289 | 119 | 119 | 118 | 119 | 102 | 98.3 | 95 | 92.8 | 92.9 | 91.8 | 87.2 | 76 | 74.8 | 67.5 | 69.8 | 70 | 65.7 | 64.2 | 66.2 | 65 | 64.3 | 63.8 | 63.3 | 61.7 | 61.3 | 60.1 | 60.8 | 63.4 | 71.5 | 70 | 87.9 |
| Profit before tax | 4,427 | 3,141 | 3,656 | 3,633 | 2,961 | 2,819 | 2,876 | 2,879 | 2,564 | 2,522 | 2,666 | 2,400 | 2,184 | 1,829 | 1,945 | 2,005 | 1,892 | 1,647 | 2,152 | 1,381 | 1,737 | 2,032 | 1,485 | 682 | 1,616 | 1,671 | 1,610 | 1,474 | 1,875 | 1,558 | 1,652 | 1,520 | 1,593 |
| Tax | 1,235 | 844 | 906 | 877 | 750 | 682 | 681 | 914 | 622 | 594 | 634 | 564 | 540 | 455 | 472 | 484 | 428 | 359 | 378 | 322 | 407 | 477 | 347 | 154 | 411 | 410 | 206 | 453 | 570 | 457 | 500 | 500 | 514 |
| Net profit | 3,189 | 3,492 | 2,750 | 2,122 | 2,210 | 1,802 | 2,196 | 1,385 | 1,942 | 2,011 | 2,033 | 2,020 | 1,644 | 1,705 | 1,473 | 1,719 | 1,526 | 1,430 | 2,040 | 1,170 | 1,551 | 1,716 | 1,194 | 396 | 1,354 | 1,322 | 1,523 | 1,012 | 1,408 | 1,221 | 1,257 | 1,042 | 1,175 |
| Net margin | 14.7% | 19.6% | 17.0% | 13.5% | 16.8% | 14.2% | 16.7% | 10.5% | 16.3% | 17.4% | 16.7% | 18.6% | 15.9% | 19.1% | 15.8% | 16.9% | 19.1% | 15.8% | 23.3% | 15.8% | 18.0% | 19.3% | 16.7% | 12.8% | 19.9% | 17.3% | 19.8% | 13.1% | 19.0% | 16.5% | 15.7% | 14.0% | 17.4% |
| EPS (₹) | 115.50 | 131.10 | 98.50 | 76.00 | 79.20 | 64.60 | 78.70 | 49.70 | 69.60 | 71.20 | 71.90 | 71.40 | 58.10 | 60.30 | 52.10 | 60.10 | 52.80 | 49.40 | 70.50 | 40.50 | 53.60 | 59.30 | 41.30 | 13.70 | 46.80 | 45.70 | 52.60 | 35.00 | 48.70 | 42.20 | 43.40 | 36.00 | 40.60 |
| Net profit YoY | +44.3% | +93.8% | +25.2% | +53.2% | +13.8% | −10.4% | +8.0% | −31.4% | +18.1% | +18.0% | +38.0% | +17.5% | – | +11.7% | +3.0% | −15.7% | −1.6% | −16.7% | +70.8% | +195.9% | +14.6% | +29.8% | −21.6% | −60.9% | −3.9% | +8.3% | +21.2% | −2.8% | +19.8% | – | – | – | – |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 62,905 | 50,995 | 44,870 | 36,455 | 33,145 | 27,741 | 29,919 | 30,250 | 25,563 |
| Other income | 2,182 | 1,474 | 1,436 | 1,188 | 1,284 | 1,276 | 1,525 | 1,555 | 1,212 |
| Total expenses | 51,657 | 41,330 | 36,534 | 30,330 | 28,173 | 23,082 | 25,073 | 25,541 | 21,098 |
| EBITDA | 13,061 | 10,468 | 8,762 | 6,451 | 5,250 | 4,925 | 5,096 | 4,979 | 4,782 |
| EBITDA margin | 20.8% | 20.5% | 19.5% | 17.7% | 15.8% | 17.8% | 17.0% | 16.5% | 18.7% |
| Finance costs | 1,169 | 389 | 60.4 | 39.5 | 8.7 | 6.7 | 3.2 | 4.5 | 1.3 |
| Depreciation | 645 | 414 | 365 | 286 | 270 | 259 | 246 | 266 | 315 |
| Profit before tax | 13,391 | 11,139 | 9,772 | 7,313 | 7,072 | 5,935 | 6,371 | 6,606 | 5,646 |
| Tax | 3,377 | 2,899 | 2,332 | 1,782 | 1,486 | 1,384 | 1,480 | 2,028 | 1,714 |
| Net profit | 10,575 | 7,325 | 7,708 | 6,060 | 6,166 | 4,857 | 5,212 | 4,928 | 4,219 |
| Net margin | 16.8% | 14.4% | 17.2% | 16.6% | 18.6% | 17.5% | 17.4% | 16.3% | 16.5% |
| EPS (₹) | 385.00 | 262.40 | 272.70 | 212.50 | 213.20 | 167.90 | 180.20 | 170.30 | 145.80 |
| Net profit YoY | +44.4% | −5.0% | +27.2% | −1.7% | +26.9% | −6.8% | +5.8% | +16.8% | – |
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 | 2,597 | −1,406 | 6,558 | 5,277 | 4,197 |
| Investing cash flow | −7,034 | −1,056 | −344 | 1,200 | −80.9 |
| Financing cash flow | 5,079 | 4,230 | −6,167 | −7,181 | −4,056 |
| Capital expenditure | 560 | 814 | 706 | 1,074 | 551 |
| Free cash flow (CFO − capex) | 2,036 | −2,219 | 5,852 | 4,203 | 3,646 |
Net profit trend
annual, ₹ croreFY21
₹4,857
FY22
₹6,166+27%
FY23
₹6,060−2%
FY24
₹7,708+27%
FY25
₹7,325−5%
FY26
₹10,575+44%
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 | 6 May 2026 | PDF on NSE XBRL |
| Q4 FY26 | Standalone · audited | 6 May 2026 | PDF on NSE XBRL |
| Q3 FY26 | Consolidated | 30 Jan 2026 | PDF on NSE XBRL |
| Q3 FY26 | Standalone | 30 Jan 2026 | PDF on NSE XBRL |
| Q2 FY26 | Consolidated | 7 Nov 2025 | PDF on NSE XBRL |
| Q2 FY26 | Standalone | 7 Nov 2025 | PDF on NSE XBRL |
| Q1 FY26 | Consolidated | 6 Aug 2025 | PDF on NSE XBRL |
| Q1 FY26 | Standalone | 6 Aug 2025 | PDF on NSE XBRL |
Annual reports
NSE archiveKey ratios
P/E (TTM)5Y avg 26.1×27.3×
P/B5Y avg 6.49×8.12×
ROEFY26, on average equity28.6%
Net margin16.8%
Debt / equity0.57×
Revenue CAGR (3Y)19.9%
Profit CAGR (3Y)20.4%
EPS (TTM)₹413.34
Market cap₹3.15L Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
8.12×
vs 8-point avg 6.49× (+25%)
3.70× low6.49× avg11.14× high
History points are balance-sheet dates (2022 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹77,223 Cr+42%
Net worth₹38,832 Cr+10%
Total borrowings₹21,981 Cr+138%
Cash & bank balances₹2,990 Cr+28%
Investments₹24,473 Cr−3%
Inventories₹6,294 Cr+203%
Trade receivables₹3,473 Cr+63%
Trade payables₹8,804 Cr+38%
Change vs the same date a year earlier.
Revenue mix FY26
Automotive93.0%result ₹12,016 Cr
Financing5.0%result ₹889 Cr
Investments2.0%result ₹1,307 Cr
Segment revenue as reported, before inter-segment eliminations.