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 | Q3 FY19 | Q2 FY19 | Q4 FY18 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 1,719 | 1,691 | 1,660 | 1,585 | 1,387 | 1,545 | 1,502 | 1,497 | 1,423 | 1,480 | 1,655 | 1,574 | 1,571 | 1,682 | 1,672 | 1,562 | 1,372 | 1,442 | 1,387 | 1,345 | 1,199 | 1,221 | 1,241 | 1,218 | 994 | 1,250 | 1,258 | 1,259 | 1,228 | 1,233 | 235 | 197 | 209 |
| Other income | 3.8 | 2.1 | 1.2 | 0.9 | 1.7 | 1.5 | 1.4 | 1 | 1.1 | 0.8 | 11.2 | 6.4 | 0.8 | 0.1 | 1.1 | 0.9 | 19.6 | −0.5 | 1.8 | 0.4 | 4.7 | 2.3 | 0.7 | 7.1 | 0.9 | 2.9 | 1.1 | 26.5 | 2.6 | 0 | 2.5 | 1 | 0.8 |
| Total expenses | 1,642 | 1,603 | 1,582 | 1,510 | 1,331 | 1,472 | 1,431 | 1,423 | 1,369 | 1,425 | 1,606 | 1,533 | 1,541 | 1,640 | 1,648 | 1,571 | 1,369 | 1,412 | 1,362 | 1,331 | 1,181 | 1,181 | 1,187 | 1,169 | 982 | 1,201 | 1,208 | 1,234 | 1,210 | 1,256 | 228 | 194 | 196 |
| EBITDA | 160 | 164 | 147 | 143 | 116 | 147 | 134 | 135 | 115 | 125 | 114 | 102 | 91.8 | 107 | 71.6 | 47 | 53.6 | 79.5 | 68.4 | 55.2 | 57.3 | 93.3 | 96.1 | 104 | 57.9 | 101 | 107 | 87.7 | 73 | 12 | 14.6 | 11.4 | 20.9 |
| EBITDA margin | 9.3% | 9.7% | 8.9% | 9.0% | 8.4% | 9.5% | 8.9% | 9.0% | 8.1% | 8.4% | 6.9% | 6.5% | 5.8% | 6.3% | 4.3% | 3.0% | 3.9% | 5.5% | 4.9% | 4.1% | 4.8% | 7.6% | 7.7% | 8.6% | 5.8% | 8.1% | 8.5% | 7.0% | 5.9% | 1.0% | 6.2% | 5.8% | 10.0% |
| Finance costs | 48 | 45 | 39.6 | 39.5 | 33.6 | 47.2 | 31.3 | 32.3 | 33.9 | 40.5 | 35.8 | 31.5 | 33.4 | 34.3 | 27.5 | 24.8 | 24.7 | 24.4 | 17.6 | 16.5 | 15.2 | 23.8 | 20.7 | 28.9 | 20.6 | 29.7 | 33 | 35.7 | 31 | 28.4 | 5.3 | 5.5 | 5.7 |
| Depreciation | 35.6 | 30.9 | 29.8 | 29 | 26.6 | 27.5 | 31.2 | 28.3 | 26.3 | 29.4 | 28.4 | 28.9 | 27.7 | 30.6 | 19.9 | 31.2 | 25.8 | 24.6 | 25 | 24.7 | 24.3 | 28.9 | 21.5 | 26.6 | 25 | 22.5 | 24.5 | 27.6 | 24.4 | 6.7 | 2.8 | 2.7 | 2.2 |
| Profit before tax | 61.1 | 76.1 | 56.8 | 61.1 | 45.2 | 57.4 | 59.2 | 54.6 | 40.3 | 46.9 | 51.7 | 33.4 | 24.4 | 19.5 | 15.2 | −23.1 | 17.9 | 23.2 | 18.6 | 11.4 | 32.8 | 9.5 | 51.5 | 42.9 | 7.4 | 38.7 | −43.9 | 37.8 | 15.5 | −100 | 9 | 5.7 | 8 |
| Tax | 5.2 | 11.4 | 7.1 | 5.4 | −2.2 | −2.7 | 3.2 | 3.5 | 3.2 | 6 | 10.8 | 1.4 | 0.5 | −3.6 | 7.4 | −0.5 | 2.5 | 7.5 | 3.3 | 0.9 | 1.7 | 8.1 | 5.3 | 1.5 | 3 | −2.6 | 5.2 | 2.3 | 2 | −2.3 | 0.1 | 1 | −0.8 |
| Net profit | 55.9 | 64.8 | 49.7 | 55.7 | 47.4 | 60.5 | 56.1 | 51.1 | 37.1 | 40.9 | 40.9 | 32 | 23.9 | 23.1 | 7.8 | −22.6 | 15.4 | 15.7 | 15.4 | 10.5 | 31.1 | 1.4 | 46.2 | 41.4 | 4.3 | 41.2 | −49.2 | 35.5 | 13.6 | −98 | 8.8 | 4.6 | 8.7 |
| Net margin | 3.3% | 3.8% | 3.0% | 3.5% | 3.4% | 3.9% | 3.7% | 3.4% | 2.6% | 2.8% | 2.5% | 2.0% | 1.5% | 1.4% | 0.5% | -1.4% | 1.1% | 1.1% | 1.1% | 0.8% | 2.6% | 0.1% | 3.7% | 3.4% | 0.4% | 3.3% | -3.9% | 2.8% | 1.1% | -7.9% | 3.8% | 2.4% | 4.2% |
| EPS (₹) | 3.15 | 3.78 | 2.92 | 3.28 | 2.80 | 3.57 | 3.33 | 3.04 | 2.21 | 2.44 | 2.43 | 1.90 | 1.43 | 1.38 | 0.47 | -1.36 | 0.93 | 4.81 | 4.71 | 3.23 | 9.57 | 0.48 | 15.52 | 13.92 | 1.45 | 13.86 | -16.53 | 11.94 | 4.56 | -33.57 | 3.04 | 1.62 | 3.23 |
| Net profit YoY | +17.9% | +7.1% | −11.4% | +8.8% | +27.9% | +47.8% | +37.2% | +60.0% | +54.9% | +77.1% | +424.9% | +241.4% | +55.3% | +46.9% | −49.4% | −315.3% | −50.5% | +995.5% | −66.7% | −74.7% | +618.7% | −96.5% | +194.1% | +16.7% | −68.1% | +142.1% | −656.7% | +665.2% | – | −1224.1% | – | – | – |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 6,322 | 5,967 | 6,282 | 6,288 | 5,370 | 4,674 | 4,994 | 1,853 | 733 |
| Other income | 6 | 5 | 19.2 | 21.6 | 6.4 | 11.1 | 33 | 6.4 | 4.9 |
| Total expenses | 6,026 | 5,695 | 6,105 | 6,227 | 5,268 | 4,516 | 4,854 | 1,865 | 733 |
| EBITDA | 570 | 530 | 432 | 279 | 274 | 352 | 368 | 46.6 | 33.3 |
| EBITDA margin | 9.0% | 8.9% | 6.9% | 4.4% | 5.1% | 7.5% | 7.4% | 2.5% | 4.5% |
| Finance costs | 158 | 145 | 141 | 111 | 73.6 | 97.9 | 129 | 44.5 | 25 |
| Depreciation | 116 | 113 | 114 | 107 | 98.6 | 95.6 | 99 | 14.7 | 8.2 |
| Profit before tax | 239 | 211 | 156 | 29.5 | 86 | 96 | 48.1 | −79.4 | 19.1 |
| Tax | 21.6 | 7.1 | 18.7 | 5.8 | 13.3 | 17.9 | 7 | −0.6 | 4.1 |
| Net profit | 218 | 205 | 138 | 23.7 | 72.7 | 78.1 | 41.1 | −78.8 | 14.9 |
| Net margin | 3.4% | 3.4% | 2.2% | 0.4% | 1.4% | 1.7% | 0.8% | -4.3% | 2.0% |
| EPS (₹) | 12.78 | 12.16 | 8.20 | 1.42 | 22.25 | 26.05 | 13.83 | -26.97 | 5.15 |
| Net profit YoY | +6.2% | +48.7% | +481.0% | −67.4% | −6.9% | +89.9% | +152.2% | −627.6% | – |
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 | 83.9 | −87.6 | 134 | 18.1 | 171 |
| Investing cash flow | −56.9 | −46.6 | −0.7 | 19.5 | −147 |
| Financing cash flow | 197 | 192 | −155 | −63.5 | −42.8 |
| Capital expenditure | 50.6 | 8.1 | 32.8 | 73.4 | 53.7 |
| Free cash flow (CFO − capex) | 33.4 | −95.7 | 102 | −55.4 | 117 |
Net profit trend
annual, ₹ croreFY21
₹78.1
FY22
₹72.7−7%
FY23
₹23.7−67%
FY24
₹138+481%
FY25
₹205+49%
FY26
₹218+6%
Result filings
as filed with NSE · PDF and XBRL| Period | Basis | Filed | Documents |
|---|---|---|---|
| Q1 FY27 | Consolidated | 12 Aug 2026 | PDF on NSE XBRL |
| Q1 FY27 | Standalone | 12 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 | 11 Feb 2026 | PDF on NSE XBRL |
| Q3 FY26 | Standalone | – | PDF on NSE XBRL |
| Q3 FY26 | Standalone | 11 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 | 13 Aug 2025 | PDF on NSE XBRL |
Annual reports
NSE archiveKey ratios
P/E (TTM)5Y avg 41.7×62.8×
P/B5Y avg 8.94×11.03×
ROEFY26, on average equity21.3%
Net margin3.4%
Debt / equity0.64×
Revenue CAGR (3Y)0.2%
Profit CAGR (3Y)109.4%
EPS (TTM)₹12.73
Market cap₹14,196 Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
11.03×
vs 8-point avg 8.94× (+23%)
5.60× low8.94× avg13.97× high
History points are balance-sheet dates (2022 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹4,294 Cr+40%
Net worth₹1,287 Cr+70%
Total borrowings₹827 Cr+27%
Cash & bank balances₹528 Cr+147%
Investments₹0 Cr
Inventories₹323 Cr+54%
Trade receivables₹1,153 Cr+103%
Trade payables₹790 Cr+42%
Change vs the same date a year earlier.
Revenue mix FY26
System integration84.2%result ₹434 Cr
Technology product solutions13.4%result ₹−15.8 Cr
Others2.4%result ₹22.1 Cr
Segment revenue as reported, before inter-segment eliminations.