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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 FY19	Q3 FY19	Q2 FY19	Q1 FY19	Q4 FY18
Revenue from operations	891	815	736	737	711	693	513	495	493	448	438	408	383	449	438	357	273	254	227	190	179	145	150	131	52.1	151	204	204	227	236	184	182	201	205
Other income	22.7	30.4	21	18.7	25.1	24.8	14.7	23.4	17.5	15.1	9.2	8.7	7	7	7	3.5	3.8	5.1	3.5	2.6	3.8	8.2	3.7	3.7	3.1	3.8	4.7	1.4	3	15.2	17.3	9.1	1	1.5
Total expenses	678	641	567	553	535	551	387	354	375	369	356	329	310	390	376	304	244	222	203	165	162	137	140	121	51.4	147	187	178	204	234	177	153	160	183
EBITDA	252	204	198	213	204	174	158	164	133	90.3	88.6	86.7	80.1	66.5	66.3	56.8	31.5	35	25.5	27.6	18.8	10.1	13.3	13.2	3.2	7.1	20.2	28.9	27.2	10.6	12	36.3	49.5	34.1
EBITDA margin	28.3%	25.0%	26.9%	28.9%	28.7%	25.1%	30.8%	33.1%	27.0%	20.2%	20.2%	21.3%	20.9%	14.8%	15.1%	15.9%	11.5%	13.8%	11.2%	14.5%	10.5%	7.0%	8.8%	10.0%	6.1%	4.7%	9.9%	14.2%	12.0%	4.5%	6.5%	19.9%	24.6%	16.7%
Finance costs	7.7	5.7	5.1	6.1	6.3	9.4	10.7	5.8	1.8	0.8	0.5	1	0.3	0.4	0.1	0.1	0.2	0.4	0	0.2	0	0.2	0.1	0.1	0.1	0.1	0.2	0.3	1	3.9	0.1	2.9	3.4	3.2
Depreciation	31.7	25.1	23.2	22.5	22.8	22.9	21.8	17.6	14.1	11.1	6.3	7.3	6.4	8	3.9	4	2.6	2.4	1.6	1.5	1.8	2.5	2.3	2.4	2.3	2.7	2.6	3.5	3.4	4.3	5.2	4.6	4.9	9.8
Profit before tax	236	204	191	203	200	167	140	164	135	93.5	91	87.2	80.4	87.2	44.7	56.2	32.4	37.3	27.4	28.4	20.8	15.6	14.5	14.4	3.9	8.2	22.1	−1.3	25.8	17.6	24	37.9	42.2	22.7
Tax	34	16.7	20.3	17.1	19.2	21.4	12.3	18.2	13.9	8	3.8	5.2	9.4	10.4	−1.2	5.2	1.7	2.1	−0.8	1	0.6	−7.4	0.2	0.5	4.7	−0.1	0.8	−2.2	3.9	1	2.6	4.9	8.1	2.6
Net profit	202	187	170	186	181	145	128	146	121	85.5	87.2	82	71	76.7	45.8	51	30.7	35.2	28.3	27.5	20.3	23	14.3	13.9	−0.8	8.3	21.2	1	21.9	16.7	21.5	33	34	20.1
Net margin	22.6%	22.9%	23.1%	25.2%	25.5%	21.0%	24.9%	29.4%	24.5%	19.1%	19.9%	20.1%	18.5%	17.1%	10.5%	14.3%	11.3%	13.9%	12.5%	14.4%	11.3%	15.9%	9.5%	10.6%	-1.5%	5.5%	10.4%	0.5%	9.7%	7.0%	11.7%	18.1%	16.9%	9.8%
EPS (₹)	4.62	4.32	3.95	4.26	4.15	3.28	2.93	3.36	2.77	1.96	2.05	1.91	1.68	1.68	1.23	2.46	1.49	3.45	2.76	2.68	1.99	2.29	1.39	1.35	-0.08	0.81	2.07	0.09	2.14	1.63	2.10	3.22	3.32	1.96
Net profit YoY	+11.4%	+28.7%	+33.1%	+27.4%	+49.8%	+69.9%	+46.7%	+77.7%	+70.1%	+11.4%	+90.2%	+60.8%	+131.2%	+118.0%	+62.1%	+85.7%	+51.6%	+53.2%	+98.3%	+97.8%	+2639.6%	+178.2%	−32.8%	+1346.2%	−103.6%	−50.4%	−1.1%	−97.1%	−35.6%	−17.0%	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Revenue from operations	2,998	2,193	1,677	1,516	850	478	786	804	789
Other income	95.2	80.5	39.9	21.3	14.9	18.7	13	42.6	4.1
Total expenses	2,296	1,668	1,365	1,314	751	449	716	725	682
EBITDA	819	629	346	221	107	39.7	83.4	108	159
EBITDA margin	27.3%	28.7%	20.6%	14.6%	12.6%	8.3%	10.6%	13.5%	20.1%
Finance costs	23.2	27.8	2.6	0.7	0.7	0.5	1.6	10.3	12.4
Depreciation	93.7	76.5	30.9	18.5	7.3	9.5	12.2	19	39.6
Profit before tax	797	606	352	220	114	48.4	54.8	122	111
Tax	73.3	65.9	26.5	16.2	2.8	−2	2.4	16.5	14.3
Net profit	724	540	326	204	111	50.3	52.4	105	96.5
Net margin	24.1%	24.6%	19.4%	13.5%	13.1%	10.5%	6.7%	13.1%	12.2%
EPS (₹)	16.68	12.34	7.60	4.89	10.86	4.90	5.11	10.27	9.42
Net profit YoY	+34.1%	+65.7%	+59.4%	+83.7%	+120.9%	−3.9%	−50.2%	+8.9%	–

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	903	829	350	261	185
Investing cash flow	−446	−1,119	−260	−238	−172
Financing cash flow	−246	158	257	7.2	−12
Capital expenditure	137	161	63.8	34.5	67
Free cash flow (CFO − capex)	766	668	286	226	118

Net profit trend

annual, ₹ crore

FY21

₹50.3

FY22

₹111+121%

FY23

₹204+84%

FY24

₹326+59%

FY25

₹540+66%

FY26

₹724+34%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	7 Aug 2026	PDF on NSE XBRL
Q1 FY27	Standalone	7 Aug 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	19 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	19 May 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	6 Feb 2026	PDF on NSE XBRL
Q3 FY26	Standalone	6 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	5 Aug 2025	PDF XBRL
Q1 FY26	Standalone	5 Aug 2025	PDF XBRL

Annual reports

NSE archive

FY2622.90 MB FY2515.65 MB FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)12.4×

P/B3.75×

ROEFY26, on average equity34.5%

Net margin24.1%

Debt / equity0.09×

Revenue CAGR (3Y)25.5%

Profit CAGR (3Y)52.5%

EPS (TTM)₹18.08

Market cap₹9,234 Cr

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

Balance sheet 31 Mar 2026

Total assets₹3,770 Cr+34%

Net worth₹2,463 Cr+42%

Total borrowings₹231 Cr+13%

Cash & bank balances₹494 Cr+75%

Investments₹352 Cr+77%

Inventories₹1 Cr+79%

Trade receivables₹171 Cr+40%

Trade payables₹153 Cr+55%

Change vs the same date a year earlier.

Revenue mix FY26

Visa and consular services61.4%result ₹725 Cr

Digital services38.6%result ₹95.3 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	70.39	70.39	70.39	70.39	70.39	70.38	70.38	70.38	71.52	71.52	71.52	71.52
FII	4.14	6.14	6.37	6.82	8.53	9.94	10.94	8.96	7.39	7.67	7.55	7.66
DII	3.10	2.99	2.93	2.90	2.87	2.26	1.37	1.72	1.35	1.05	0.89	0.07
of which MF	0.43	0.41	0.36	0.39	0.36	–	–	–	–	–	–	–
Retail	17.30	15.82	15.67	15.41	14.36	13.18	13.01	13.61	13.55	12.54	11.78	12.79
Other public	5.03	4.61	4.62	4.47	3.82	4.20	4.25	5.26	6.12	7.12	8.15	7.70

2,23,624 shareholders · NSE shareholding pattern filings.