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Quarterly results

consolidated · as filed with NSE · Q1 FY27 back to Q1 FY20

₹ 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	Q1 FY20
Revenue from operations	1,174	1,010	858	810	1,052	929	805	774	1,107	852	784	723	1,016	863	767	764	949	821	766	984	844	803	704	693	645	591	764
Other income	7.1	9.8	11.9	13.6	19.4	10	3.8	19.2	5.4	10.8	9.9	5	4.1	3.4	0.5	7.6	2.3	12.4	4.7	11.2	3	6	6.5	6.5	5.7	3.7	4.3
Total expenses	1,156	1,075	927	872	1,066	959	860	869	1,090	866	805	766	968	863	750	782	887	780	735	856	766	736	645	628	624	582	701
EBITDA	73	−7.7	−12.8	−9.7	39.7	22.4	−0.6	−41.1	69	17.7	16.6	3	87.2	37.7	50.4	12	93.3	72.8	62.9	162	112	101	92.3	101	56.3	44.2	95.6
EBITDA margin	6.2%	-0.8%	-1.5%	-1.2%	3.8%	2.4%	-0.1%	-5.3%	6.2%	2.1%	2.1%	0.4%	8.6%	4.4%	6.6%	1.6%	9.8%	8.9%	8.2%	16.5%	13.2%	12.5%	13.1%	14.5%	8.7%	7.5%	12.5%
Finance costs	16.5	17.8	18.5	15	16.9	16.6	17.4	17.4	16.9	0.7	8	17.2	9.6	7.6	5.7	3.5	3	3	2.9	3.7	4.8	5.5	6.8	10.7	9.4	10.2	9.6
Depreciation	38.1	39.1	37.7	37.6	37	35.7	36.8	35.8	35.8	31.1	29.8	28.9	30.2	29.4	27.1	26.3	27.6	28.5	29.2	31.1	28.9	28.2	26.7	25.2	25.3	24.7	23.5
Profit before tax	25.4	−15.4	−57	−48.7	5.2	−19.8	−51.1	6.8	21.7	−2.7	−10.6	−24.2	74.3	3.9	17.3	−10.7	65	53.7	35.8	139	81.2	72.9	65.4	71.1	27.3	13	66.9
Tax	16	6.9	−4	−5.8	6.5	4.9	−15.6	−8.4	8.6	−2.8	−3.5	−8.7	15.8	−0.7	4.8	−3.9	14.9	20.6	9.6	39.6	18.4	20.9	17.1	21	4.6	3.6	26.1
Net profit	9.4	−22.4	−53	−42.9	−1.3	−24.7	−35.5	14.7	12.6	−0.1	−7.2	−15.8	57.9	4.6	12.5	−6.8	50.7	34.2	26.1	99.5	62.6	52.5	94.3	50.3	23.8	9.6	40.6
Net margin	0.8%	-2.2%	-6.2%	-5.3%	-0.1%	-2.7%	-4.4%	1.9%	1.1%	-0.0%	-0.9%	-2.2%	5.7%	0.5%	1.6%	-0.9%	5.3%	4.2%	3.4%	10.1%	7.4%	6.5%	13.4%	7.3%	3.7%	1.6%	5.3%
EPS (₹)	12.47	-29.64	-70.32	-56.84	-1.75	-32.77	-47.05	19.45	16.74	0.15	-9.52	-20.94	76.76	6.13	16.65	9.01	67.41	45.49	34.85	132.84	83.55	70.11	65.09	67.37	30.58	12.88	54.38
Net profit YoY	+812.1%	+9.6%	−49.5%	−392.2%	−110.5%	−22363.6%	−394.2%	+193.0%	−78.2%	−102.4%	−157.3%	−133.1%	–	−90.9%	−63.3%	−125.9%	−19.1%	−35.0%	−72.3%	+97.9%	+163.5%	+445.5%	–	+23.8%	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20
Revenue from operations	3,730	3,615	3,375	3,479	3,520	3,044	2,555
Other income	54.7	29.5	29.8	25.3	30.4	18.1	24.6
Total expenses	3,940	3,769	3,406	3,386	3,258	2,771	2,453
EBITDA	9.6	58.6	124	223	391	409	237
EBITDA margin	0.3%	1.6%	3.7%	6.4%	11.1%	13.4%	9.3%
Finance costs	68.2	68.2	35.4	19.6	12.6	27.8	38.5
Depreciation	151	144	120	111	116	109	97.1
Profit before tax	−116	−42.4	36.1	117	293	291	126
Tax	3.6	−10.6	0.8	19.6	84.7	77.4	27.9
Net profit	−120	−32.9	34.8	97.1	210	260	106
Net margin	-3.2%	-0.9%	1.0%	2.8%	6.0%	8.5%	4.1%
EPS (₹)	-158.55	-43.63	46.15	129.09	280.54	286.12	132.40
Net profit YoY	−263.4%	−194.6%	−64.2%	−53.9%	−19.0%	+145.1%	–

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	119	82.1	173	132	162
Investing cash flow	−147	−52.4	−163	−178	−46.2
Financing cash flow	−31.3	−90.1	61.7	42.1	−179
Capital expenditure	92.3	124	114	133	86.1
Free cash flow (CFO − capex)	26.3	−41.5	58.9	−0.5	76

Net profit trend

annual, ₹ crore

FY21

₹260

FY22

₹210−19%

FY23

₹97.1−54%

FY24

₹34.8−64%

FY25

₹−32.9−195%

FY26

₹−120−263%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	6 Aug 2026	PDF on NSE XBRL
Q1 FY27	Standalone	6 Aug 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	12 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	12 May 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	13 Feb 2026	PDF on NSE XBRL
Q3 FY26	Standalone	13 Feb 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	4 Aug 2025	PDF XBRL
Q1 FY26	Consolidated	–	PDF XBRL

Annual reports

NSE archive

FY2614.97 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 37.7×-10.0×

P/B5Y avg 1.44×0.98×

ROEFY26, on average equity-10.3%

Net margin-3.2%

Debt / equity0.77×

Revenue CAGR (3Y)2.4%

Profit CAGR (3Y)–

EPS (TTM)₹-143.78

Market cap₹1,089 Cr

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

P/B vs history

0.98×

vs 8-point avg 1.44× (−32%)

0.82× low1.44× avg1.81× high

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

Balance sheet 31 Mar 2026

Total assets₹3,071 Cr+5%

Net worth₹1,110 Cr−8%

Total borrowings₹852 Cr+20%

Cash & bank balances₹49 Cr−36%

Investments₹0 Cr+5%

Inventories₹687 Cr+0%

Trade receivables₹207 Cr+4%

Trade payables₹440 Cr+3%

Change vs the same date a year earlier.

Revenue mix FY26

Floors34.5%result ₹−143 Cr

Roofs30.5%result ₹104 Cr

Pipes & Construction Chemicals18.5%result ₹−32.1 Cr

Walls16.3%result ₹26.6 Cr

Others0.2%result ₹−0.8 Cr

Segment revenue as reported, before inter-segment eliminations.

Shareholding 30 Jun 2026

%	Jun 26	Mar 26	Dec 25	Sept 25	Jun 25	Mar 25	Dec 24	Sept 24	Jun 24	Mar 24	Dec 23	Sept 23
Promoter	40.57	40.57	40.57	40.57	40.57	40.57	40.57	40.57	40.57	40.57	40.57	40.59
FII	2.74	2.87	2.64	2.23	2.06	1.40	1.30	1.35	1.55	2.22	2.47	2.47
DII	0.08	0.06	0.14	0.15	0.11	0.10	2.48	3.57	3.28	3.27	3.33	3.31
of which MF	0.01	0.01	0.01	0.01	0.01	–	–	–	–	–	–	–
Retail	38.19	37.77	38.20	38.33	38.76	41.31	40.05	38.98	39.10	38.30	38.03	38.02
Other public	18.42	18.73	18.45	18.72	18.50	16.62	15.60	15.53	15.50	15.64	15.60	15.61

28,900 shareholders · NSE shareholding pattern filings.