Your investments deserve an analyst, not a dashboard.

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	Q1 FY20	Q4 FY19	Q4 FY18
Revenue from operations	1,637	1,604	1,454	1,671	1,542	1,504	1,192	1,298	1,422	1,434	1,230	1,539	1,390	1,492	981	1,113	1,080	1,280	1,212	1,214	1,140	1,019	1,072	1,290	1,430	1,740	1,196	857	949	0	0
Other income	14.9	12.2	9.5	8.7	6.3	9.5	6.8	64.9	7.7	4.3	53.9	109	12.2	16.3	20.2	11.7	14.5	11.8	11.6	4.4	5.2	7.9	11.1	4.6	3.3	26.6	6.8	5.7	4.8	0	0
Total expenses	1,600	1,389	1,300	1,609	1,485	1,212	1,119	1,312	1,334	1,157	1,167	1,433	1,301	1,149	940	1,165	1,078	985	1,144	1,113	1,049	725	1,069	1,199	1,256	1,543	1,118	744	820	0	0
EBITDA	114	285	202	120	134	365	124	49.1	166	345	113	165	163	404	79.7	−15.9	44.4	331	99.8	135	134	332	36.4	128	217	241	110	155	176	0	0
EBITDA margin	7.0%	17.8%	13.9%	7.2%	8.7%	24.3%	10.4%	3.8%	11.7%	24.0%	9.2%	10.7%	11.7%	27.1%	8.1%	-1.4%	4.1%	25.9%	8.2%	11.1%	11.8%	32.6%	3.4%	9.9%	15.2%	13.9%	9.2%	18.0%	18.5%	–	–
Finance costs	32.5	25.6	3.8	14.2	33.7	30.5	6.9	20	36	25	7.9	17.2	33.5	21.1	5.9	7.8	13.8	7.8	3.7	6.2	13.1	9.6	5	9	15.6	17.3	7.6	16.6	22.7	0	0
Depreciation	44.3	44.7	44.5	44.3	43.7	43.1	43.6	43.2	42.6	42.6	42	41.2	40.6	40.2	32.8	28.3	28.2	28.4	28	28.2	29.3	27.8	28.1	28.2	27.8	27.4	25	24.8	24.3	0	0
Profit before tax	52	227	163	70.6	63.2	301	80	50.8	95.2	281	117	216	101	359	61.3	−40.3	16.9	305	79.7	105	96.8	303	14.4	95.1	177	223	84.5	119	134	0	0
Tax	14.4	76.6	57.6	26	21.5	82.6	18.6	−8	32.2	86	31.9	56.6	33.2	110	17.2	−8.3	5.5	64	21.4	23.7	25	70.7	−6.7	21.2	44.2	−14.9	15.2	21.7	26.8	0	0
Net profit	44.1	160	113	53.9	51.6	229	70.5	67.2	70.2	203	91.3	166	73.5	254	46.3	−28.9	12.4	240	64.1	83.1	76.9	236	26.9	78.3	139	241	72.5	99.8	106	0	0
Net margin	2.7%	9.9%	7.8%	3.2%	3.3%	15.2%	5.9%	5.2%	4.9%	14.2%	7.4%	10.8%	5.3%	17.1%	4.7%	-2.6%	1.1%	18.8%	5.3%	6.8%	6.7%	23.1%	2.5%	6.1%	9.7%	13.9%	6.1%	11.6%	11.1%	–	–
EPS (₹)	2.16	7.90	5.62	2.67	2.55	11.35	3.49	3.33	3.48	10.08	4.53	8.24	3.64	12.51	2.27	-1.42	0.61	11.79	3.14	3.96	3.66	11.21	1.28	3.66	6.32	10.97	3.30	4.54	4.66	0.00	0.00
Net profit YoY	−14.4%	−30.4%	+61.0%	−19.8%	−26.5%	+12.7%	−22.8%	−59.6%	−4.6%	−20.1%	+97.3%	+674.3%	+493.7%	+5.8%	−27.8%	−134.8%	−83.9%	+2.1%	+138.4%	+6.1%	−44.7%	−2.5%	−62.9%	−21.5%	+31.7%	–	–	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Revenue from operations	6,271	5,415	5,594	4,666	4,846	4,812	4,741	4,286	4,401
Other income	36.8	88.8	180	62.8	33	26.9	43.9	42.7	30.3
Total expenses	5,784	4,977	5,058	4,332	4,291	4,249	4,225	3,733	4,096
EBITDA	741	704	786	512	700	714	682	689	452
EBITDA margin	11.8%	13.0%	14.1%	11.0%	14.4%	14.8%	14.4%	16.1%	10.3%
Finance costs	77.2	93.5	83.6	48.6	30.9	39.3	64.2	40.9	52
Depreciation	177	173	166	130	114	112	101	95.9	95.2
Profit before tax	524	527	716	397	587	590	560	595	335
Tax	182	125	208	124	134	129	48.7	26	113
Net profit	378	437	534	284	465	480	519	576	232
Net margin	6.0%	8.1%	9.6%	6.1%	9.6%	10.0%	11.0%	13.4%	5.3%
EPS (₹)	18.74	21.65	26.49	13.94	22.44	22.48	23.44	25.21	9.86
Net profit YoY	−13.4%	−18.3%	+88.1%	−38.8%	−3.2%	−7.6%	−9.8%	+148.6%	–

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	599	425	178	453	695
Investing cash flow	−947	−880	−225	−859	−309
Financing cash flow	347	455	47	406	−385
Capital expenditure	948	892	268	856	404
Free cash flow (CFO − capex)	−349	−467	−90.5	−403	291

Net profit trend

annual, ₹ crore

FY21

₹480

FY22

₹465−3%

FY23

₹284−39%

FY24

₹534+88%

FY25

₹437−18%

FY26

₹378−13%

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	15 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	15 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	–	PDF on NSE XBRL
Q3 FY26	Consolidated	10 Feb 2026	PDF on NSE XBRL
Q3 FY26	Standalone	10 Feb 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	11 Nov 2025	PDF XBRL
Q2 FY26	Standalone	11 Nov 2025	PDF XBRL
Q1 FY26	Consolidated	12 Aug 2025	PDF on NSE XBRL

Annual reports

NSE archive

FY2615.84 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 23.4×37.3×

P/B5Y avg 2.71×3.35×

ROEFY26, on average equity9.5%

Net margin6.0%

Debt / equity0.77×

Revenue CAGR (3Y)10.4%

Profit CAGR (3Y)10.0%

EPS (TTM)₹18.37

Market cap₹13,850 Cr

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

P/B vs history

3.35×

vs 8-point avg 2.71× (+24%)

2.15× low2.71× avg3.69× high

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

Balance sheet 31 Mar 2026

Total assets₹8,406 Cr+18%

Net worth₹4,138 Cr+9%

Total borrowings₹3,169 Cr+21%

Cash & bank balances₹0 Cr+24%

Investments₹6 Cr+1%

Inventories₹3,135 Cr+1%

Trade receivables₹179 Cr+25%

Trade payables₹282 Cr+2%

Change vs the same date a year earlier.

Revenue mix FY26

Sugar75.8%result ₹515 Cr

Distillery23.7%result ₹203 Cr

Polylactic Acid(PLA)0.3%result ₹−16.7 Cr

Others0.2%result ₹2.8 Cr

Segment revenue as reported, before inter-segment eliminations.

Shareholding 30 Jun 2026

%	Jun 26	Jun 26	Mar 26	Dec 25	Sept 25	Jun 25	Mar 25	Dec 24	Sept 24	Jun 24	Mar 24	Dec 23
Promoter	42.86	42.86	42.85	42.85	42.86	42.87	42.87	42.87	42.90	42.90	42.90	42.90
FII	9.33	9.44	10.43	10.55	11.21	11.99	12.01	12.11	12.86	12.19	11.27	10.49
DII	29.09	28.79	27.67	27.50	27.60	28.02	27.12	26.53	26.44	22.58	20.76	21.64
of which MF	25.83	25.54	25.42	25.24	25.40	26.09	–	–	–	–	–	–
Retail	14.75	14.82	14.97	15.30	14.71	13.77	14.47	15.05	14.11	18.22	21.06	20.84
Other public	3.97	4.09	4.08	3.80	3.62	3.35	3.53	3.44	3.69	4.11	4.01	4.13

1,87,662 shareholders · NSE shareholding pattern filings.