Quarterly results
standalone · as filed with NSE · Q1 FY27 back to Q4 FY17
| ₹ 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 | 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 FY17 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 21.4 | 19.6 | 19.2 | 19.8 | 19.5 | 18.7 | 19.3 | 20.9 | 19.4 | 16.2 | 14.4 | 21.5 | 14.5 | 15.3 | 12.9 | 11.9 | 12.1 | 13.3 | 9.7 | 6 | 14.9 | 10.4 | 10.6 | 7.9 | 18.7 | 28.8 | 32 | 15 | 32.9 | 31.7 | 54.5 | 21.1 | 22.3 |
| Other income | 0.1 | 0.4 | 0.6 | 0.2 | 0.4 | 48.8 | 0.1 | 0.1 | 9.5 | 4 | 0.2 | 0.2 | 0.1 | 9 | 0.2 | 0.4 | 0.2 | 0.1 | 3.2 | 0.1 | 0.1 | 0.3 | 0.5 | 0.2 | −0.3 | 0.3 | 1.8 | 0.6 | 0.9 | 0.1 | 1.6 | 0.3 | 1.2 |
| Total expenses | 20.8 | 19.9 | 19.6 | 20.2 | 17.1 | 18.7 | 19.1 | 16.9 | 15.5 | 16.4 | 12.9 | 12.1 | 12 | 14.9 | 12.4 | 10.5 | 11.1 | 12.9 | 10.2 | 7.3 | 13.6 | 11.5 | 11.1 | 9.3 | 38.4 | 33.7 | 37.4 | 16.4 | 30.9 | 34.1 | 53.4 | 21.1 | 21.4 |
| EBITDA | 1.5 | 0.6 | 0.5 | 0.5 | 3.4 | 1.9 | 0.9 | 4.9 | 4.7 | 0.5 | 2.2 | 10 | 3.1 | 1 | 1.4 | 2.3 | 1.8 | 1.3 | 0.3 | −0.4 | 2.3 | 0 | 0.4 | −0.6 | −18.5 | −4.4 | −4.7 | −0.7 | 2.6 | −1.9 | 1.8 | 0.5 | 1.3 |
| EBITDA margin | 7.2% | 3.2% | 2.6% | 2.7% | 17.2% | 10.0% | 4.9% | 23.3% | 24.2% | 3.1% | 15.1% | 46.5% | 21.5% | 6.5% | 10.8% | 19.0% | 15.1% | 9.4% | 3.5% | -7.5% | 15.5% | 0.1% | 3.6% | -7.9% | -99.2% | -15.1% | -14.6% | -4.7% | 8.0% | -5.8% | 3.3% | 2.2% | 5.7% |
| Finance costs | 0.3 | 0.3 | 0.3 | 0.3 | 0.4 | 1.3 | 0.2 | 0.3 | 0.3 | 0.2 | 0.2 | 0.1 | 0.2 | 0.3 | 0.4 | 0.3 | 0.4 | 0.4 | 0.4 | 0.5 | 0.6 | 0.7 | 0.4 | 0.3 | 0.7 | 0.5 | 0.6 | 0.5 | 0.5 | 0.4 | 0.5 | 0.3 | 0.3 |
| Depreciation | 0.6 | 0.6 | 0.6 | 0.6 | 0.6 | 0.6 | 0.6 | 0.5 | 0.5 | 0.5 | 0.5 | 0.5 | 0.5 | 0.2 | 0.5 | 0.5 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 |
| Profit before tax | −3.5 | −9.4 | 0.2 | −0.2 | 2.7 | −17.3 | 0.3 | 4.1 | 13.4 | 3.8 | 1.7 | 9.6 | 2.6 | 9.5 | 0.7 | 1.8 | 1.2 | 0.6 | 2.7 | −1.2 | 1.5 | −0.8 | −0 | −1.2 | −20 | −4.6 | −3.6 | −0.7 | 2.9 | −2.3 | 2.8 | 0.3 | 2.1 |
| Tax | 0 | 1.6 | 0 | 0 | 0 | 0.1 | 0 | 0 | 0 | 3.5 | 0 | 0 | 0 | 7.5 | 0 | 0 | 0 | 0 | 0 | 0 | 20.9 | 0 | 0 | 0 | −21.1 | 0 | 0 | 0 | 2.8 | −0.1 | 0 | 0.1 | 15.1 |
| Net profit | −3.5 | −11 | 0.2 | −0.2 | 2.7 | −17.4 | 0.3 | 4.1 | 13.4 | 0.3 | 1.7 | 9.6 | 2.6 | 2 | 0.7 | 1.8 | 1.2 | 0.6 | 2.7 | −1.2 | −19.4 | −0.8 | −0 | −1.2 | 1.1 | −4.6 | −3.6 | −0.7 | 0.1 | −2.2 | 2.7 | 0.2 | −13 |
| Net margin | -16.5% | -56.0% | 0.9% | -1.0% | 14.1% | -93.0% | 1.6% | 19.5% | 69.3% | 2.0% | 11.6% | 44.5% | 17.9% | 13.1% | 5.4% | 14.9% | 10.2% | 4.2% | 27.4% | -20.6% | -130.3% | -7.6% | -0.2% | -15.5% | 6.0% | -15.9% | -11.3% | -4.9% | 0.4% | -6.8% | 5.0% | 1.1% | -58.2% |
| EPS (₹) | -0.72 | -2.23 | 0.03 | -0.04 | 0.56 | 0.00 | 0.06 | 0.83 | 2.74 | 0.09 | 0.34 | 0.00 | 0.53 | 13.62 | 0.14 | 0.36 | 0.25 | 0.00 | 0.00 | -0.25 | -3.89 | 0.00 | 0.00 | -0.25 | 2.59 | -0.94 | -0.74 | -0.15 | 0.03 | -0.44 | 0.56 | 0.05 | -2.16 |
| Net profit YoY | −229.0% | +36.9% | −46.8% | −104.8% | −79.6% | −5509.5% | −81.7% | −57.2% | +418.1% | −84.0% | +140.1% | +442.0% | +109.1% | – | +24.0% | −33.8% | +201.1% | +171.8% | +11444.7% | +0.4% | −1841.3% | +82.8% | +99.3% | −66.4% | +785.4% | −110.9% | −231.3% | −422.4% | – | – | – | – | – |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY26 | FY25 | FY24 | FY23 | FY21 | FY20 | FY19 | FY17 |
|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 78.1 | 78.4 | 66.4 | 52.2 | 43.8 | 94.6 | 140 | 19.4 |
| Other income | 1.5 | 58.4 | 5.2 | 9.8 | 1.1 | 2.4 | 2.9 | 1.6 |
| Total expenses | 76.8 | 70.1 | 54.7 | 48.9 | 45.4 | 109 | 140 | 23 |
| EBITDA | 5 | 12.5 | 14.4 | 6.5 | 2.1 | −11.7 | 3 | −2.4 |
| EBITDA margin | 6.4% | 16.0% | 21.6% | 12.4% | 4.8% | -12.3% | 2.2% | -12.4% |
| Finance costs | 1.2 | 2 | 0.7 | 1.4 | 2 | 2.3 | 1.8 | 1.2 |
| Depreciation | 2.4 | 2.3 | 2 | 1.7 | 1.7 | 0.8 | 0.4 | 0.2 |
| Profit before tax | −6.6 | 0.5 | 16.9 | 13.2 | −0.5 | −12.3 | 3.7 | −2.1 |
| Tax | 1.6 | 0.1 | 3.5 | 7.5 | 20.9 | −21.1 | 2.8 | 0.2 |
| Net profit | −8.3 | 0.4 | 13.5 | 5.7 | −21.5 | 8.8 | 0.9 | −2.3 |
| Net margin | -10.6% | 0.5% | 20.3% | 10.9% | -49.1% | 9.3% | 0.7% | -11.7% |
| EPS (₹) | -1.68 | 0.03 | 2.77 | 14.38 | -4.30 | 0.77 | 0.19 | -0.46 |
| Net profit YoY | −2131.1% | −97.0% | +135.4% | – | −343.7% | +844.9% | – | – |
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 |
|---|---|---|---|---|
| Operating cash flow | −85.7 | −62.9 | 7.5 | 14 |
| Investing cash flow | −1.2 | 60.6 | −8.7 | −4.3 |
| Financing cash flow | 86.8 | −2.5 | 6.3 | −9.3 |
| Capital expenditure | 0.3 | 0.6 | 6.8 | 4.3 |
| Free cash flow (CFO − capex) | −86 | −63.5 | 0.7 | 9.7 |
Net profit trend
annual, ₹ croreFY20
₹8.8
FY21
₹−21.5−344%
FY23
₹5.7+127%
FY24
₹13.5+135%
FY25
₹0.4−97%
FY26
₹−8.3−2131%
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 | 28 May 2026 | PDF on NSE XBRL |
| Q4 FY26 | Standalone · audited | 28 May 2026 | PDF on NSE XBRL |
| Q3 FY26 | Consolidated | 13 Feb 2026 | PDF XBRL |
| Q3 FY26 | Standalone | 13 Feb 2026 | PDF 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 |
| Q1 FY26 | Standalone | 13 Aug 2025 | PDF on NSE XBRL |
Annual reports
NSE archiveKey ratios
P/E (TTM)5Y avg 309.3×-15.1×
P/B5Y avg 1.51×0.91×
ROEFY26, on average equity-3.4%
Net margin-10.6%
Debt / equity0.44×
Revenue CAGR (3Y)14.4%
Profit CAGR (3Y)–
EPS (TTM)₹-2.97
Market cap₹220 Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
0.91×
vs 8-point avg 1.51× (−40%)
0.77× low1.51× avg2.00× high
History points are balance-sheet dates (2022 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹544 Cr+23%
Net worth₹241 Cr−3%
Total borrowings₹106 Cr+1211%
Cash & bank balances₹1 Cr−12%
Investments₹240 Cr+0%
Inventories₹9 Cr+66%
Trade receivables₹25 Cr+5%
Trade payables₹11 Cr+15%
Change vs the same date a year earlier.
Revenue mix FY26
PCB79.2%result ₹2.2 Cr
BRAND LICENCING FEE20.8%result ₹1 Cr
Segment revenue as reported, before inter-segment eliminations.