Quarterly results
consolidated · as filed with NSE · Q1 FY27 back to Q4 FY21
| ₹ 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 623 | 608 | 756 | 719 | 820 | 743 | 762 | 746 | 659 | 614 | 644 | 481 | 429 | 457 | 534 | 453 | 376 | 507 | 565 | 463 | 450 | 430 |
| Other income | 4.6 | 3.3 | 1.8 | 1.5 | 2.6 | 3.1 | 1.9 | 2.3 | 1.8 | 2 | 2.1 | 2 | 1.8 | 0.7 | 1.7 | 2.7 | 1.6 | 2.9 | 1.8 | 1.2 | 2.1 | 1.1 |
| Total expenses | 581 | 575 | 710 | 676 | 785 | 712 | 735 | 709 | 627 | 581 | 609 | 452 | 403 | 424 | 506 | 457 | 355 | 477 | 535 | 437 | 430 | 412 |
| EBITDA | 61.1 | 54.7 | 66.6 | 67.1 | 53.5 | 49.3 | 46.5 | 55 | 53.9 | 50.4 | 54.6 | 46.8 | 39.5 | 47.2 | 40.4 | 5.9 | 30 | 38.5 | 34.5 | 30.8 | 25.7 | 26.2 |
| EBITDA margin | 9.8% | 9.0% | 8.8% | 9.3% | 6.5% | 6.6% | 6.1% | 7.4% | 8.2% | 8.2% | 8.5% | 9.7% | 9.2% | 10.3% | 7.6% | 1.3% | 8.0% | 7.6% | 6.1% | 6.7% | 5.7% | 6.1% |
| Finance costs | 4.5 | 8.3 | 7.4 | 10.4 | 6.9 | 5.5 | 7.9 | 6.5 | 11.1 | 7.4 | 9.7 | 9.3 | 6.7 | 7.4 | 5.1 | 3.2 | 4.2 | 4.5 | 1.2 | 1.7 | 2.2 | 4.8 |
| Depreciation | 14.4 | 13.1 | 13.1 | 13.1 | 11.5 | 12 | 11.6 | 11.5 | 11 | 10.1 | 9.5 | 9.2 | 7.1 | 7.3 | 7 | 6.7 | 3.9 | 4 | 3.5 | 3.6 | 3.5 | 3.2 |
| Profit before tax | 46.8 | 36.6 | 47.8 | 45 | 37.8 | 34.9 | 28.9 | 39.3 | 33.5 | 34.9 | 37.5 | 30.3 | 27 | 33.2 | 30 | −1.3 | 23.5 | 32.9 | 31.6 | 26.8 | 22.1 | 19.2 |
| Tax | 11.3 | 10.6 | 12.4 | 13.5 | 4.3 | 7.4 | 7.9 | 9.4 | 9 | 11.2 | 4.7 | 10.7 | 7.2 | 8.6 | 7.2 | −0.5 | 5.8 | 10 | 7.5 | 5.8 | 5.2 | 5.9 |
| Net profit | 35.5 | 26 | 35.4 | 31.5 | 33.5 | 27.6 | 20.9 | 29.9 | 24.5 | 23.7 | 32.8 | 19.7 | 19.8 | 24.6 | 22.8 | −0.8 | 17.7 | 22.8 | 24.1 | 20.9 | 16.9 | 13.3 |
| Net margin | 5.7% | 4.3% | 4.7% | 4.4% | 4.1% | 3.7% | 2.7% | 4.0% | 3.7% | 3.9% | 5.1% | 4.1% | 4.6% | 5.4% | 4.3% | -0.2% | 4.7% | 4.5% | 4.3% | 4.5% | 3.7% | 3.1% |
| EPS (₹) | 1.09 | 0.79 | 1.09 | 0.98 | 1.04 | 0.86 | 0.65 | 0.94 | 0.81 | 0.85 | 1.20 | 7.23 | 7.71 | 10.06 | 9.69 | -0.34 | 7.35 | 9.46 | 9.99 | 8.66 | 6.99 | 5.91 |
| Net profit YoY | +6.1% | −5.5% | +69.1% | +5.6% | +36.6% | +16.2% | −36.2% | +51.9% | +24.1% | −3.6% | +43.6% | +2509.1% | +11.3% | +7.7% | −5.4% | −103.9% | +5.2% | +71.9% | – | – | – | – |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 |
|---|---|---|---|---|---|---|
| Revenue from operations | 2,904 | 2,910 | 2,201 | 1,820 | 1,993 | 1,431 |
| Other income | 9.1 | 9.1 | 7.9 | 6.7 | 8.1 | 4.8 |
| Total expenses | 2,746 | 2,782 | 2,078 | 1,741 | 1,888 | 1,378 |
| EBITDA | 242 | 205 | 191 | 124 | 138 | 81.8 |
| EBITDA margin | 8.3% | 7.0% | 8.7% | 6.8% | 6.9% | 5.7% |
| Finance costs | 33 | 31 | 33.1 | 19.8 | 17.7 | 16 |
| Depreciation | 50.8 | 46.1 | 36 | 25 | 14.7 | 12.8 |
| Profit before tax | 167 | 137 | 130 | 85.5 | 113 | 57.9 |
| Tax | 40.8 | 33.7 | 33.8 | 21.1 | 28.6 | 15.7 |
| Net profit | 126 | 103 | 95.9 | 64.4 | 84.8 | 42.2 |
| Net margin | 4.4% | 3.5% | 4.4% | 3.5% | 4.3% | 2.9% |
| EPS (₹) | 3.90 | 3.26 | 3.54 | 27.45 | 35.10 | 18.75 |
| Net profit YoY | +22.9% | +7.2% | +49.0% | −24.1% | +101.1% | – |
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 | 325 | 63.2 | 39.2 | 34.6 | 95.1 |
| Investing cash flow | −198 | −129 | −131 | −256 | −145 |
| Financing cash flow | −7.6 | 83.2 | 92.1 | 206 | 62.1 |
| Capital expenditure | 132 | 134 | 137 | 256 | 167 |
| Free cash flow (CFO − capex) | 193 | −70.5 | −98 | −222 | −72 |
Net profit trend
annual, ₹ croreFY21
₹42.2
FY22
₹84.8+101%
FY23
₹64.4−24%
FY24
₹95.9+49%
FY25
₹103+7%
FY26
₹126+23%
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 | 25 May 2026 | PDF on NSE XBRL |
| Q4 FY26 | Standalone · audited | 25 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 XBRL |
| Q2 FY26 | Standalone | 12 Nov 2025 | PDF XBRL |
| Q1 FY26 | Consolidated | 12 Aug 2025 | PDF XBRL |
| Q1 FY26 | Standalone | 12 Aug 2025 | PDF XBRL |
Annual reports
NSE archiveKey ratios
P/E (TTM)5Y avg 12.9×7.7×
P/B5Y avg 2.02×1.09×
ROEFY26, on average equity14.8%
Net margin4.4%
Debt / equity0.62×
Revenue CAGR (3Y)16.9%
Profit CAGR (3Y)25.2%
EPS (TTM)₹4.35
Market cap₹995 Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
1.09×
vs 8-point avg 2.02× (−46%)
0.85× low2.02× avg2.85× high
History points are balance-sheet dates (2022 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹1,648 Cr+6%
Net worth₹910 Cr+14%
Total borrowings₹568 Cr+6%
Cash & bank balances₹138 Cr+607%
Investments₹82 Cr−48%
Inventories₹274 Cr−38%
Trade receivables₹80 Cr−39%
Trade payables₹51 Cr−60%
Change vs the same date a year earlier.
Revenue mix FY26
(b) Segment – Distillery41.0%result ₹124 Cr
(d) Svaksha Distillery Ltd. Kharagpur (Subsidary)29.4%result ₹99.1 Cr
(a) Maize Oil Extraction & Refinery24.9%result ₹28 Cr
(f) Oil Trading Unit4.5%result ₹1.4 Cr
(c) Segment – Real Estates0.2%result ₹−1.2 Cr
(e) Goyal Distillery Pvt. Ltd. (Subsidary)0.0%result ₹−0.6 Cr
Segment revenue as reported, before inter-segment eliminations.