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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 FY18
Revenue from operations	705	735	577	580	486	454	394	408	369	410	335	340	346	663	430	339	414	522	378	347	327	296	228	180	83.5	167	159	109	127	123
Other income	0.8	0.5	0.6	0.6	3	1.7	0.9	2.6	0.5	1.1	0.1	0.2	42.7	0.6	0.1	0.2	0	0.3	0.2	0.2	0	−0.2	0.9	−0.1	0.2	0.3	0.2	0	0.4	9.5
Total expenses	679	711	560	566	478	450	390	406	367	406	332	337	345	656	426	338	413	519	375	343	323	294	227	179	83.4	169	159	108	127	121
EBITDA	38.3	36.2	28.6	25.2	16.2	11.4	10.8	8.1	6.8	8.8	8.7	7.9	6.5	14.7	8.7	5.4	5.9	8.2	6.3	8.1	7.6	6.5	4.2	4.5	3	1.1	4.7	4.8	4.4	3.1
EBITDA margin	5.4%	4.9%	5.0%	4.3%	3.3%	2.5%	2.7%	2.0%	1.8%	2.2%	2.6%	2.3%	1.9%	2.2%	2.0%	1.6%	1.4%	1.6%	1.7%	2.3%	2.3%	2.2%	1.9%	2.5%	3.6%	0.6%	2.9%	4.4%	3.5%	2.5%
Finance costs	9.9	10.3	9.5	8.9	7.3	5	4.6	4.1	3.3	2.9	3.7	3.3	3.4	5.4	3.3	2.9	3.5	3.8	2.4	2.8	2.8	2.9	2.1	1.6	1.6	1.7	2.7	2.7	2.4	1
Depreciation	2	1.9	1.8	1.8	1.8	2	1.8	1.7	1.6	2.1	1.5	1.5	1.5	1.6	1.5	1.4	1.4	1.6	1.4	1.4	1.4	1.6	1.3	1.3	1.3	1.3	1.4	1.2	1.3	0.9
Profit before tax	27.1	24.5	17.8	15.1	10.1	6	5.4	4.9	2.4	4.8	3.5	3.3	44.2	8.3	4	1.2	0.9	3.1	2.7	4.2	3.4	1.8	1.6	1.5	0.3	−1.7	0.8	0.9	1.2	10.7
Tax	6.9	6	4.9	3.9	2.5	1.5	1.4	1.1	0.7	2.4	0.8	0.8	6.2	2.5	1.1	0.5	0.3	1	0.6	1.3	1.2	1.2	0.3	0	0	−0.3	0.1	0.1	0.3	2.7
Net profit	20.2	18.5	12.8	11.3	7.6	4.6	4	3.7	1.7	2.4	2.8	2.5	38	5.8	2.9	0.8	0.6	2.1	2.1	2.9	2.3	0.7	1.3	1.5	0.2	−1.4	0.7	0.8	0.9	8
Net margin	2.9%	2.5%	2.2%	1.9%	1.6%	1.0%	1.0%	0.9%	0.5%	0.6%	0.8%	0.7%	11.0%	0.9%	0.7%	0.2%	0.1%	0.4%	0.6%	0.8%	0.7%	0.2%	0.6%	0.8%	0.3%	-0.8%	0.5%	0.7%	0.7%	6.5%
EPS (₹)	6.33	5.78	4.01	3.52	2.38	1.43	1.25	1.17	0.54	0.76	0.86	0.78	11.88	1.81	0.92	0.25	0.19	0.66	0.66	0.91	0.71	0.21	0.42	0.47	0.07	-0.43	0.23	0.25	0.27	2.49
Net profit YoY	+167.4%	+303.8%	+222.2%	+202.3%	+338.9%	+87.4%	+44.3%	+48.7%	−95.5%	−57.9%	−5.7%	+214.9%	+6166.0%	+172.9%	+38.9%	−72.6%	−73.2%	+216.2%	+58.7%	+93.5%	+870.7%	+149.3%	+79.9%	+86.3%	−72.7%	–	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20
Revenue from operations	2,378	1,626	1,431	1,847	1,574	787	562
Other income	4.7	5.7	44.1	0.9	0.8	0.8	0.9
Total expenses	2,315	1,613	1,419	1,833	1,561	783	562
EBITDA	106	37	31.8	34.7	30.2	18.3	15
EBITDA margin	4.5%	2.3%	2.2%	1.9%	1.9%	2.3%	2.7%
Finance costs	36	16.9	13.4	15.2	11.8	8.3	9.5
Depreciation	7.4	7.1	6.6	5.9	5.7	5.5	5.2
Profit before tax	67.5	18.7	55.9	14.5	13.4	5.2	1.2
Tax	17.3	4.7	10.2	4.3	2.3	1.7	0.1
Net profit	50.2	14	45.7	10.1	11.1	3.5	1
Net margin	2.1%	0.9%	3.2%	0.5%	0.7%	0.4%	0.2%
EPS (₹)	15.68	4.38	14.29	3.17	3.46	1.09	0.32
Net profit YoY	+257.9%	−69.3%	+351.3%	−8.6%	+218.6%	+235.3%	–

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	59	−144	96.1	−39.5	−4.3
Investing cash flow	−5.2	−9.5	39.4	3.2	−0.8
Financing cash flow	−58.6	155	−133	27.3	14
Capital expenditure	14.3	11.1	0	0	0
Free cash flow (CFO − capex)	44.7	−155	96.1	−39.5	−4.3

Net profit trend

annual, ₹ crore

FY21

₹3.5

FY22

₹11.1+219%

FY23

₹10.1−9%

FY24

₹45.7+351%

FY25

₹14−69%

FY26

₹50.2+258%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	27 Jul 2026	PDF on NSE XBRL
Q1 FY27	Standalone	27 Jul 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	30 Apr 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	–	PDF on NSE XBRL
Q4 FY26	Standalone · audited	30 Apr 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	25 Oct 2025	PDF XBRL
Q2 FY26	Standalone	25 Oct 2025	PDF XBRL
Q1 FY26	Consolidated	22 Jul 2025	PDF on NSE XBRL

Annual reports

NSE archive

FY265.23 MB FY258.75 MB FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 11.4×21.7×

P/B5Y avg 1.30×5.29×

ROEFY26, on average equity21.6%

Net margin2.1%

Debt / equity1.01×

Revenue CAGR (3Y)8.8%

Profit CAGR (3Y)70.5%

EPS (TTM)₹19.64

Market cap₹1,362 Cr

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

P/B vs history

5.29×

vs 8-point avg 1.30× (+306%)

1.02× low1.30× avg5.29× high

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

Balance sheet 31 Mar 2026

Total assets₹635 Cr+22%

Net worth₹258 Cr+24%

Total borrowings₹259 Cr−6%

Cash & bank balances₹0 Cr−98%

Investments₹0 Cr−18%

Inventories₹230 Cr+46%

Trade receivables₹200 Cr+37%

Trade payables₹29 Cr+76%

Change vs the same date a year earlier.

Revenue mix FY24

Copper Division99.5%result ₹28.3 Cr

Renewable Energy-wind0.4%result ₹2.1 Cr

Others0.1%result ₹0.6 Cr

Segment revenue as reported, before inter-segment eliminations.

Shareholding 13 Aug 2026

%	Aug 26	Jun 26	Mar 26	Dec 25	Sept 25	Jun 25	Mar 25	Dec 24	Sept 24	Jun 24	Mar 24	Dec 23
Promoter	65.80	64.91	64.84	65.12	70.56	70.45	70.54	70.53	70.62	71.65	72.34	73.76
FII	2.14	0.86	0.41	0.44	–	0.00	0.00	0.15	0.00	0.15	0.21	0.00
DII	2.08	0.20	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Retail	25.76	25.87	26.74	26.80	25.92	26.22	26.18	26.16	25.93	24.73	24.15	22.78
Other public	4.22	8.16	8.01	7.64	3.52	3.33	3.28	3.16	3.45	3.47	3.30	3.46

31,751 shareholders · NSE shareholding pattern filings.