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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	Q3 FY19	Q2 FY19	Q4 FY18
Revenue from operations	610	600	543	534	510	502	493	483	459	453	436	410	395	389	372	359	346	339	326	304	300	279	274	268	2.4	215	228	227	159	156	143
Other income	33.6	28.4	33.7	30.4	23.1	25.7	31.4	20.8	18.6	17.3	17.2	20.4	12	11.4	14.2	16.5	13.9	11.5	9.5	8.5	9.2	9.5	5.8	1.8	0.1	19.6	10.3	6.9	7.7	7	2.9
Total expenses	419	415	373	363	349	352	347	335	323	325	307	285	280	277	274	265	255	251	237	214	220	203	200	190	1.8	170	169	164	107	106	101
EBITDA	213	204	190	189	178	168	162	165	152	145	142	137	127	124	109	106	102	99.9	101	101	92.6	85.7	83.9	87.4	0.7	53.8	67.8	71.1	57.8	55.8	48.7
EBITDA margin	35.0%	34.0%	34.9%	35.4%	34.8%	33.4%	32.9%	34.1%	33.1%	32.0%	32.7%	33.5%	32.0%	31.8%	29.4%	29.4%	29.5%	29.5%	31.0%	33.3%	30.8%	30.7%	30.6%	32.6%	29.8%	25.0%	29.7%	31.3%	36.3%	35.8%	34.0%
Finance costs	0.2	0.4	0.2	0.2	0.2	0.2	0.2	0.2	0.1	0.2	0.2	0.2	0.3	0.2	0.4	0.1	0.1	0.1	0.1	0.2	0.3	0.3	0.3	0.5	0	0.2	0.1	0.1	0	0	0
Depreciation	21.6	18.8	19.3	18.4	16.3	17	16.2	16.8	16	16.4	13.9	11.8	11.4	11.1	11.4	11.5	11	11.5	11.7	11.7	12	9.9	9.3	8.9	0.1	8.4	8.4	7.4	5.7	5.6	6.2
Profit before tax	225	213	204	201	184	177	177	169	154	146	145	146	127	124	112	110	105	99.9	98.7	97.7	89.5	85	80.2	79.8	0.7	64.9	69.6	70.5	59.8	57.2	45.4
Tax	46.1	40.6	38	40.8	33.7	31.4	37.2	37.7	29.5	24.8	25.6	29.9	22.8	22.8	14.4	18.4	18.8	19.1	19.4	20.9	18	17.1	14.1	17	0.1	16	10.7	13.3	14	13.7	10.1
Net profit	179	173	166	160	151	145	140	131	125	121	120	116	104	101	97.4	92	86.3	80.8	79.3	76.8	71.5	67.9	66.1	62.8	0.5	48.9	58.9	57.3	45.8	43.5	35.3
Net margin	29.3%	28.8%	30.6%	30.0%	29.5%	28.9%	28.4%	27.1%	27.2%	26.7%	27.5%	28.3%	26.4%	26.0%	26.2%	25.6%	24.9%	23.8%	24.3%	25.3%	23.8%	24.4%	24.1%	23.4%	22.7%	22.7%	25.8%	25.2%	28.8%	27.9%	24.6%
EPS (₹)	23.27	22.38	21.56	20.32	20.10	18.75	18.28	17.22	16.32	16.01	15.44	15.13	13.62	13.45	12.86	12.09	11.21	10.43	9.90	9.91	9.37	8.78	8.52	7.52	7.21	6.46	7.74	7.58	6.06	6.21	4.76
Net profit YoY	+18.8%	+19.0%	+18.4%	+22.5%	+20.7%	+19.8%	+16.9%	+12.6%	+19.9%	+19.7%	+23.0%	+26.2%	+20.8%	+25.3%	+22.8%	+19.8%	+20.7%	+19.0%	+19.9%	+22.3%	+13012.7%	+39.0%	+12.3%	+9.7%	–	–	+28.5%	+31.7%	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY18
Revenue from operations	2,187	1,937	1,694	1,467	1,269	1,061	863	540
Other income	116	96.4	66.9	56	38.8	23.5	41.3	12.7
Total expenses	1,500	1,357	1,197	1,071	922	771	635	364
EBITDA	761	647	551	441	395	329	260	195
EBITDA margin	34.8%	33.4%	32.6%	30.1%	31.1%	31.0%	30.1%	36.1%
Finance costs	0.9	0.6	0.8	0.8	0.7	1.6	0.3	0.1
Depreciation	72.8	66	53.4	45	46.9	37	31.6	19
Profit before tax	803	677	564	451	386	314	269	188
Tax	153	136	103	74.4	77.4	62.2	54.4	43.7
Net profit	650	541	461	377	308	251	215	145
Net margin	29.7%	27.9%	27.2%	25.7%	24.3%	23.7%	24.9%	26.8%
EPS (₹)	84.36	70.57	60.19	49.62	39.61	32.03	28.42	19.26
Net profit YoY	+20.1%	+17.3%	+22.4%	+22.2%	+22.7%	+16.9%	–	–

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	523	432	311	272	337
Investing cash flow	−582	−335	−313	−218	−271
Financing cash flow	−46.5	−38.3	−38.1	−28.2	−40.7
Capital expenditure	248	192	146	194	91.2
Free cash flow (CFO − capex)	275	241	165	77.9	246

Net profit trend

annual, ₹ crore

FY21

₹251

FY22

₹308+23%

FY23

₹377+22%

FY24

₹461+22%

FY25

₹541+17%

FY26

₹650+20%

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	14 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	14 May 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	5 Feb 2026	PDF on NSE XBRL
Q3 FY26	Standalone	5 Feb 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	5 Nov 2025	PDF on NSE XBRL
Q2 FY26	Standalone	5 Nov 2025	PDF on NSE XBRL
Q1 FY26	Consolidated	7 Aug 2025	PDF XBRL
Q1 FY26	Standalone	7 Aug 2025	PDF XBRL

Annual reports

NSE archive

FY2617.88 MB FY258.08 MB FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 19.8×31.8×

P/B5Y avg 4.10×6.01×

ROEFY26, on average equity20.2%

Net margin29.7%

Debt / equity0.00×

Revenue CAGR (3Y)14.2%

Profit CAGR (3Y)19.9%

EPS (TTM)₹89.22

Market cap₹21,547 Cr

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

P/B vs history

6.01×

vs 8-point avg 4.10× (+47%)

2.41× low4.10× avg6.01× high

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

Balance sheet 31 Mar 2026

Total assets₹4,045 Cr+26%

Net worth₹3,586 Cr+26%

Total borrowings₹1 Cr+4%

Cash & bank balances₹94 Cr−53%

Investments₹859 Cr+45%

Inventories₹429 Cr+28%

Trade receivables₹826 Cr+31%

Trade payables₹296 Cr+36%

Change vs the same date a year earlier.

Revenue mix FY26

Rest of the World79.3%result ₹631 Cr

USA20.7%result ₹56.1 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	70.57	70.57	70.57	70.57	70.56	70.56	70.56	70.56	70.56	70.62	70.62	70.63
FII	5.75	6.15	6.59	6.51	6.17	5.73	4.86	3.70	3.37	3.34	2.85	3.09
DII	2.49	2.14	2.05	2.10	2.22	2.01	2.11	1.84	1.49	1.09	0.43	0.20
of which MF	2.03	2.02	1.97	1.79	1.93	–	–	–	–	–	–	–
Retail	14.62	14.46	14.14	14.20	14.32	15.11	15.77	17.12	17.50	17.59	18.36	18.31
Other public	6.57	6.68	6.65	6.62	6.73	6.59	6.70	6.78	7.08	7.36	7.74	7.77

94,385 shareholders · NSE shareholding pattern filings.