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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	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	Q4 FY18
Revenue from operations	1,561	1,492	1,350	1,386	1,169	1,198	1,140	1,184	1,005	1,061	937	997	891	965	884	909	901	855	814	458	745	660	522	203	530	605	599	582	0	0
Other income	2.2	4.7	1.7	1.9	1.9	2	2.3	−2.5	8.4	7.8	9.3	14.6	12.2	16	5.3	20.4	5.4	5.9	6.5	5.2	10.2	1.2	1.3	4.6	1.3	1.3	8.8	1.3	0	0
Total expenses	1,447	1,393	1,259	1,290	1,100	1,119	1,063	1,123	943	959	863	882	787	826	779	809	763	726	675	419	640	556	456	225	489	602	538	524	0	0
EBITDA	198	177	170	175	128	135	129	111	111	137	106	144	133	164	129	123	161	150	160	60.2	126	124	86.5	−0.6	67.5	33	92	87.1	0	0
EBITDA margin	12.7%	11.9%	12.6%	12.6%	11.0%	11.2%	11.4%	9.4%	11.1%	12.9%	11.3%	14.5%	14.9%	17.0%	14.6%	13.5%	17.8%	17.6%	19.6%	13.2%	16.9%	18.7%	16.6%	-0.3%	12.7%	5.5%	15.4%	15.0%	–	–
Finance costs	29.6	29	31.3	31.1	22.2	19	17.9	17.2	15	10.2	8.3	6.1	6.1	4.5	4.4	3.8	3.7	2.6	2.1	3.1	3.4	1.6	2.4	5.5	8.7	9.6	11.2	9.3	0	0
Depreciation	54.1	49.5	48.3	47.6	36.7	36	34	33.6	33.6	25.4	22.9	23.4	23.1	20	19.3	19.1	18.9	18.7	18.6	18.1	17.6	17.6	17.7	15.7	17.7	20	19.3	19.3	0	0
Profit before tax	116	104	84.8	97.9	71.2	81.7	79.9	58	57.7	110	84.2	129	116	155	110	120	144	135	146	44.3	115	93.9	67.8	−17.2	42.3	4.8	70.3	59.8	0	0
Tax	33	24.2	19.7	26.9	18.2	28.5	21.1	18.1	23.5	31.1	21.5	32.2	29	40.8	27.9	26	54.8	40.8	46.2	13.2	28.1	28.1	17.5	−5.4	6	4.4	21.6	19.9	0	0
Net profit	83.3	79.4	65	70.9	52.9	53.2	58.8	40	34.1	78.4	62.7	97.1	87.1	115	82.3	94.5	88.8	93.9	99.4	31.1	86.9	65.8	50.3	−11.8	36.3	0.4	48.7	39.9	0	0
Net margin	5.3%	5.3%	4.8%	5.1%	4.5%	4.4%	5.2%	3.4%	3.4%	7.4%	6.7%	9.7%	9.8%	11.9%	9.3%	10.4%	9.9%	11.0%	12.2%	6.8%	11.7%	10.0%	9.6%	-5.8%	6.8%	0.1%	8.1%	6.9%	–	–
EPS (₹)	3.61	3.51	2.87	3.10	2.33	2.36	2.63	1.80	1.55	3.58	2.84	4.36	3.91	5.16	3.70	4.23	3.99	4.24	4.46	1.41	3.90	2.96	2.26	-0.51	1.63	0.02	2.19	1.80	0.00	0.00
Net profit YoY	+57.4%	+49.4%	+10.6%	+77.4%	+55.2%	−32.2%	−6.1%	−58.8%	−60.9%	−31.6%	−23.9%	+2.8%	–	+29.1%	−12.3%	−5.0%	+2.1%	+42.7%	+97.8%	+363.4%	+139.7%	+17423.0%	+3.2%	−129.6%	–	–	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Revenue from operations	5,397	4,528	3,886	3,647	3,027	2,130	2,317	2,280	2,060
Other income	10.2	10.3	43.9	47.7	23.1	17.3	12.8	7.1	7.9
Total expenses	5,042	4,247	3,491	3,182	2,582	1,876	2,153	2,085	1,855
EBITDA	650	487	521	559	531	336	280	302	331
EBITDA margin	12.1%	10.7%	13.4%	15.3%	17.5%	15.7%	12.1%	13.2%	16.1%
Finance costs	113	69	30.8	17	11.4	12.8	38.9	46.9	35.8
Depreciation	182	137	94.7	77.5	74.3	68.7	76.3	59.5	90.7
Profit before tax	357	277	439	512	468	260	177	202	212
Tax	89	91.2	114	128	155	68.4	51.9	53.5	46.3
Net profit	268	186	325	384	313	191	125	149	166
Net margin	5.0%	4.1%	8.4%	10.5%	10.3%	9.0%	5.4%	6.5%	8.1%
EPS (₹)	11.82	8.34	14.69	17.25	14.09	8.62	5.64	6.68	7.34
Net profit YoY	+44.2%	−42.8%	−15.3%	+22.6%	+63.8%	+52.6%	−15.8%	−10.4%	–

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	457	−2.7	252	438	276
Investing cash flow	−425	−678	−578	−480	−320
Financing cash flow	−22.1	660	353	38.8	34.9
Capital expenditure	412	665	850	491	283
Free cash flow (CFO − capex)	45.3	−668	−598	−52.8	−6.4

Net profit trend

annual, ₹ crore

FY21

₹191

FY22

₹313+64%

FY23

₹384+23%

FY24

₹325−15%

FY25

₹186−43%

FY26

₹268+44%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	31 Jul 2026	PDF on NSE XBRL
Q1 FY27	Standalone	31 Jul 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	22 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	22 May 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	4 Feb 2026	PDF on NSE XBRL
Q3 FY26	Standalone	4 Feb 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	12 Nov 2025	PDF on NSE XBRL
Q2 FY26	Standalone	12 Nov 2025	PDF on NSE XBRL
Q1 FY26	Consolidated	7 Aug 2025	PDF on NSE XBRL
Q1 FY26	Standalone	7 Aug 2025	PDF on NSE XBRL

Annual reports

NSE archive

FY2610.41 MB FY256.36 MB FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 53.4×51.7×

P/B5Y avg 6.98×5.92×

ROEFY26, on average equity10.8%

Net margin5.0%

Debt / equity0.62×

Revenue CAGR (3Y)14.0%

Profit CAGR (3Y)-11.3%

EPS (TTM)₹13.42

Market cap₹15,453 Cr

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

P/B vs history

5.92×

vs 8-point avg 6.98× (−15%)

5.42× low6.98× avg8.77× high

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

Balance sheet 31 Mar 2026

Total assets₹5,104 Cr+11%

Net worth₹2,610 Cr+10%

Total borrowings₹1,630 Cr+11%

Cash & bank balances₹30 Cr+50%

Investments₹6 Cr+100%

Inventories₹1,087 Cr+10%

Trade receivables₹618 Cr+24%

Trade payables₹405 Cr+13%

Change vs the same date a year earlier.

Revenue mix FY26

Plywood and allied products53.9%result ₹428 Cr

Medium density fibre board23.8%result ₹104 Cr

Laminate and allied poducts13.8%result ₹42.5 Cr

Particle board3.7%result ₹−32.2 Cr

Container freight station services3.0%result ₹12.4 Cr

Others1.8%result ₹12 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	71.83	71.83	72.64	72.64	72.64	72.64	72.64	72.59	72.59	72.59	73.04	73.04
FII	3.86	4.10	4.10	4.27	4.42	4.61	4.54	4.44	4.28	6.28	5.45	5.61
DII	19.41	19.16	18.36	18.14	17.92	17.59	17.46	16.96	16.67	14.51	14.75	14.49
of which MF	16.62	16.46	15.72	15.96	15.88	–	–	–	–	–	–	–
Retail	2.51	2.52	2.52	2.57	2.61	2.72	2.80	3.40	3.75	3.88	3.89	3.94
Other public	2.39	2.39	2.38	2.38	2.41	2.44	2.56	2.61	2.71	2.74	2.87	2.92

49,365 shareholders · NSE shareholding pattern filings.