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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	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 FY17
Revenue from operations	179	253	264	176	159	219	223	151	128	194	174	135	112	173	163	116	101	133	132	89.6	28.8	92.8	97.5	48.5	12.8	99.9	103	76.8	58.1	93.3	78.3	64.4	53.1	57.5
Other income	2.9	3.4	2.2	1.5	2.3	3.5	2.1	1.2	1.7	1.6	1.4	0.6	1.1	1.1	0.6	0.8	0.9	2.2	2.1	4	6.9	2.1	3.9	4.7	6	0.4	1.7	1	1	2.1	0.3	0.6	0.4	0.5
Total expenses	161	218	207	169	142	193	180	145	114	175	145	127	97.7	152	127	104	83	117	101	82.6	37.8	84.7	88.7	54.2	28.5	93	88.9	77.2	58.9	87.9	72.5	64	51.9	57.9
EBITDA	59.4	78.1	95.2	42.1	49	58.6	72.5	34.5	39.4	43.9	53.9	29.6	34.4	41.7	55.9	31.3	35.5	34.5	47.7	23.4	6.1	24.4	24.6	9.8	0.6	21	32	16.4	15.3	10.4	9.7	4.5	4.8	3.6
EBITDA margin	33.2%	30.8%	36.0%	23.9%	30.8%	26.8%	32.5%	22.8%	30.8%	22.6%	30.9%	21.9%	30.8%	24.1%	34.3%	27.0%	35.2%	25.9%	36.2%	26.1%	21.1%	26.3%	25.2%	20.3%	4.4%	21.1%	31.0%	21.4%	26.4%	11.1%	12.4%	7.0%	9.0%	6.2%
Finance costs	13.6	14.2	12.1	11.2	10.5	9.4	9.3	8.5	7.9	7.8	7.8	7.2	6.9	7.5	6.6	6.3	5.6	6.4	6	5.9	5.7	6.3	6.2	6.1	6.2	1.1	6.9	6	6.7	3	1.4	1.8	1.6	1.5
Depreciation	28	28.8	25.3	23.9	21.7	22.8	20	19.4	18	17.3	16.6	14.1	13.4	13.4	13.8	13.3	12.1	12.1	11.2	10.5	9.4	10	9.6	9.5	10.1	13	10.8	10.9	9.5	2	2.6	2.3	2	2.5
Profit before tax	20.8	38.6	60	8.5	19.1	29.9	45.2	7.9	15.2	21.8	30.9	8.8	15.2	22	36.2	12.5	18.7	18.1	32.7	11	−2.2	10.3	12.7	−1	−9.7	7.3	16.1	0.5	0.1	7.5	6.1	1	1.6	0.1
Tax	4.5	9.3	14.9	1.8	4.4	7.4	10.8	1.3	3.8	3.5	6.8	1.3	3	5.1	9.2	3.2	4.5	10	9	3.2	−0.6	3	2.6	−0.3	−2.7	2.7	4.8	0.4	−0.3	2.5	1	−0.1	0.2	−14.2
Net profit	16.3	29.2	45.1	6.8	14.7	22.5	34.4	6.6	11.4	18.4	24.1	7.5	12.3	16.9	27	9.3	14.1	8.1	23.7	7.8	−1.5	7.3	10.1	−0.7	−7.1	4.6	11.3	0.2	0.4	5	5	1.1	1.4	14.3
Net margin	9.1%	11.5%	17.1%	3.8%	9.2%	10.3%	15.4%	4.3%	8.9%	9.5%	13.8%	5.5%	11.0%	9.8%	16.5%	8.0%	14.0%	6.1%	18.0%	8.7%	-5.4%	7.8%	10.4%	-1.4%	-55.1%	4.6%	10.9%	0.2%	0.7%	5.4%	6.4%	1.7%	2.6%	24.9%
EPS (₹)	1.95	3.50	5.39	0.81	1.75	2.69	4.11	0.78	1.36	2.22	2.95	4.59	7.52	10.34	16.51	5.68	8.65	4.98	14.52	4.76	-0.95	4.46	6.20	0.42	4.32	2.79	6.92	0.09	0.25	3.06	3.09	0.66	0.84	8.78
Net profit YoY	+11.3%	+29.8%	+31.1%	+3.1%	+28.6%	+22.7%	+42.7%	−12.6%	−7.0%	+8.7%	−10.6%	−19.2%	−13.1%	+107.8%	+13.7%	+19.4%	+1011.8%	+11.5%	+134.1%	+1224.6%	+78.1%	+59.8%	−10.4%	−548.9%	−1798.6%	−8.9%	+124.3%	−85.7%	−69.9%	–	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY17
Revenue from operations	853	721	616	552	383	252	338	289	45.3
Other income	9.5	8.4	4.7	4.4	15.2	16.8	4.1	4	0.2
Total expenses	736	631	546	467	339	256	318	276	45.7
EBITDA	264	205	163	164	112	59.4	84.9	29.6	3.2
EBITDA margin	31.0%	28.4%	26.4%	29.7%	29.1%	23.6%	25.1%	10.3%	7.1%
Finance costs	48	35	29.8	26.3	24	24.8	20.7	8.5	1.5
Depreciation	99.7	80.2	62.4	52.5	43.3	39.1	44.2	8.9	2.2
Profit before tax	126	98.2	76.8	89.3	59.6	12.3	24	16.2	−0.3
Tax	30.4	23.3	14.6	22	21.5	2.6	7.6	3.7	−0
Net profit	95.8	74.9	62.2	67.2	38.1	9.7	16.4	12.5	−0.2
Net margin	11.2%	10.4%	10.1%	12.2%	9.9%	3.8%	4.9%	4.3%	-0.5%
EPS (₹)	11.45	8.95	7.60	41.18	23.31	5.92	10.06	7.66	0.13
Net profit YoY	+27.9%	+20.3%	−7.5%	+76.7%	+293.8%	−41.2%	+31.4%	–	–

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	199	150	127	75.1	90.3
Investing cash flow	−90	−58.2	−51.6	−34.1	−41
Financing cash flow	−112	−102	−41.4	−42.8	−54.4
Capital expenditure	63.9	48.7	55.6	34.4	45.5
Free cash flow (CFO − capex)	135	102	71.1	40.7	44.8

Net profit trend

annual, ₹ crore

FY21

₹9.7

FY22

₹38.1+294%

FY23

₹67.2+77%

FY24

₹62.2−7%

FY25

₹74.9+20%

FY26

₹95.8+28%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Standalone	5 Aug 2026	PDF XBRL
Q4 FY26	Standalone · audited	18 May 2026	PDF on NSE XBRL
Q3 FY26	Standalone	6 Feb 2026	PDF XBRL
Q2 FY26	Standalone	–	PDF XBRL
Q2 FY26	Standalone	3 Nov 2025	PDF XBRL
Q1 FY26	Standalone	–	PDF XBRL
Q1 FY26	Standalone	5 Aug 2025	PDF XBRL
Q4 FY25	Standalone · audited	–	PDF XBRL
Q4 FY25	Standalone · audited	15 May 2025	PDF XBRL
Q3 FY25	Standalone	10 Feb 2025	PDF on NSE XBRL

Annual reports

NSE archive

FY2611.92 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 24.5×20.3×

P/B5Y avg 6.57×4.14×

ROEFY26, on average equity22.0%

Net margin11.2%

Debt / equity0.00×

Revenue CAGR (3Y)15.6%

Profit CAGR (3Y)12.5%

EPS (TTM)₹11.65

Market cap₹1,980 Cr

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

P/B vs history

4.14×

vs 8-point avg 6.57× (−37%)

3.87× low6.57× avg12.32× high

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

Balance sheet 31 Mar 2026

Total assets₹1,150 Cr+22%

Net worth₹478 Cr+22%

Total borrowings₹0 Cr

Cash & bank balances₹25 Cr−10%

Investments₹0 Cr−98%

Inventories₹295 Cr+6%

Trade receivables₹13 Cr−7%

Trade payables₹65 Cr−5%

Change vs the same date a year earlier.

Shareholding 30 Jun 2026

%	Jun 26	Mar 26	Dec 25	Sept 25	Jun 25	Mar 25	Dec 24	Sept 24	Jun 24	Mar 24	Feb 24	Dec 23
Promoter	74.46	74.46	74.21	74.09	74.09	74.09	74.09	74.09	74.09	73.28	73.18	74.97
FII	2.16	2.17	2.53	4.14	4.78	4.87	5.02	4.58	4.48	4.46	4.46	2.15
DII	0.21	1.03	1.08	0.88	0.88	0.99	0.00	0.00	0.00	0.00	0.00	0.00
Retail	17.32	15.81	15.35	14.50	13.54	12.74	13.00	13.53	11.46	12.03	12.06	12.26
Other public	5.85	6.53	6.83	6.39	6.71	7.31	7.89	7.80	9.97	10.23	10.30	10.62

20,367 shareholders · NSE shareholding pattern filings.