Quarterly results
consolidated · as filed with NSE · Q1 FY27 back to Q4 FY22
| ₹ 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 310 | 307 | 303 | 274 | 234 | 253 | 209 | 247 | 201 | 215 | 207 | 191 | 138 | 136 | 96.3 | 74.1 | 84.8 |
| Other income | 9.2 | 7.1 | 5.2 | 9.7 | 4.1 | 2 | 2.1 | 1.8 | 5.3 | 1.9 | 2.5 | 2.9 | 1.8 | 3.6 | 2.1 | 4.4 | 8.6 |
| Total expenses | 239 | 227 | 216 | 210 | 175 | 181 | 168 | 189 | 163 | 161 | 154 | 154 | 110 | 99.3 | 80 | 66.9 | 72.2 |
| EBITDA | 105 | 116 | 112 | 89.3 | 82.7 | 96.3 | 59.6 | 75.8 | 52.9 | 67.5 | 66.7 | 48.7 | 35.8 | 43.8 | 24.2 | 13 | 18.8 |
| EBITDA margin | 33.8% | 37.7% | 36.8% | 32.5% | 35.4% | 38.0% | 28.4% | 30.7% | 26.4% | 31.5% | 32.2% | 25.5% | 26.1% | 32.2% | 25.1% | 17.5% | 22.2% |
| Finance costs | 27.7 | 25.9 | 21.5 | 20.6 | 21.1 | 21.6 | 16.3 | 15.1 | 13.2 | 12.4 | 11.4 | 9.8 | 6.7 | 5.8 | 6.6 | 4.7 | 5.2 |
| Depreciation | 6.4 | 10.1 | 3.1 | 4 | 2.8 | 2.8 | 2.1 | 2 | 1.7 | 1.7 | 1.7 | 1.7 | 1.5 | 1.4 | 1.3 | 1.1 | 1 |
| Profit before tax | 79.9 | 86.7 | 92.4 | 74.4 | 62.9 | 73.9 | 43.3 | 60.6 | 43.4 | 55.2 | 56.2 | 40 | 29.4 | 40.3 | 18.4 | 11.6 | 21.2 |
| Tax | 19.3 | 18.9 | 26.8 | 18 | 14.9 | 20.4 | 12.6 | 14.2 | 11.4 | 15.8 | 15.9 | 10.1 | 8.1 | 10 | 4.5 | 3.4 | 5.8 |
| Net profit | 60.6 | 67.8 | 65.6 | 56.5 | 48 | 53.5 | 30.7 | 46.5 | 32 | 39.4 | 40.3 | 29.9 | 21.3 | 30.3 | 13.9 | 8.2 | 15.4 |
| Net margin | 19.6% | 22.1% | 21.6% | 20.6% | 20.5% | 21.2% | 14.7% | 18.8% | 16.0% | 18.4% | 19.4% | 15.7% | 15.5% | 22.3% | 14.4% | 11.1% | 18.1% |
| EPS (₹) | 2.72 | 3.05 | 3.09 | 2.75 | 2.38 | 2.68 | 1.54 | 2.33 | 1.61 | 1.98 | 4.05 | 3.01 | 2.14 | 3.04 | 1.40 | 0.83 | 3.97 |
| Net profit YoY | +26.4% | +26.8% | +113.5% | +21.6% | +49.8% | +35.8% | −23.7% | +55.3% | +50.5% | +30.2% | +189.8% | +264.2% | – | +97.0% | – | – | – |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 |
|---|---|---|---|---|---|
| Revenue from operations | 1,119 | 910 | 751 | 385 | 272 |
| Other income | 25.4 | 11.3 | 8.7 | 10.1 | 14.1 |
| Total expenses | 828 | 700 | 579 | 313 | 212 |
| EBITDA | 400 | 285 | 219 | 98.6 | 78.2 |
| EBITDA margin | 35.7% | 31.3% | 29.2% | 25.6% | 28.8% |
| Finance costs | 89.1 | 66.1 | 40.4 | 21.9 | 15.3 |
| Depreciation | 19.9 | 8.5 | 6.6 | 4.8 | 3.4 |
| Profit before tax | 316 | 221 | 181 | 82 | 73.6 |
| Tax | 78.5 | 58.6 | 49.9 | 21.9 | 20 |
| Net profit | 238 | 163 | 131 | 60.1 | 53.6 |
| Net margin | 21.3% | 17.9% | 17.4% | 15.6% | 19.7% |
| EPS (₹) | 11.30 | 8.16 | 6.57 | 6.04 | 13.84 |
| Net profit YoY | +46.2% | +24.3% | +117.9% | +12.1% | – |
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 | −267 | −294 | −148 | 263 | −34.3 |
| Investing cash flow | −277 | −161 | −17.9 | −180 | −113 |
| Financing cash flow | 600 | 449 | 224 | −21.3 | 139 |
| Capital expenditure | 15.6 | 28.4 | 12.8 | 26.3 | 3.4 |
| Free cash flow (CFO − capex) | −283 | −323 | −161 | 237 | −37.7 |
Net profit trend
annual, ₹ croreFY22
₹53.6
FY23
₹60.1+12%
FY24
₹131+118%
FY25
₹163+24%
FY26
₹238+46%
Result filings
as filed with NSE · PDF and XBRL| Period | Basis | Filed | Documents |
|---|---|---|---|
| Q1 FY27 | Consolidated | 10 Aug 2026 | PDF on NSE XBRL |
| Q1 FY27 | Standalone | 10 Aug 2026 | PDF on NSE XBRL |
| Q4 FY26 | Consolidated · audited | 23 Apr 2026 | PDF on NSE XBRL |
| Q4 FY26 | Standalone · audited | 23 Apr 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 | 16 Oct 2025 | PDF XBRL |
| Q2 FY26 | Standalone | 16 Oct 2025 | PDF XBRL |
| Q1 FY26 | Consolidated | 21 Jul 2025 | PDF on NSE XBRL |
| Q1 FY26 | Standalone | 21 Jul 2025 | PDF on NSE XBRL |
Annual reports
NSE archiveKey ratios
P/E (TTM)5Y avg 56.2×66.8×
P/B5Y avg 9.46×10.01×
ROEFY26, on average equity17.6%
Net margin21.3%
Debt / equity0.53×
Revenue CAGR (3Y)42.7%
Profit CAGR (3Y)58.2%
EPS (TTM)₹11.25
Market cap₹16,732 Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
10.01×
vs 8-point avg 9.46× (+6%)
6.00× low9.46× avg13.97× high
History points are balance-sheet dates (2022 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹3,566 Cr+36%
Net worth₹1,672 Cr+63%
Total borrowings₹884 Cr+92%
Cash & bank balances₹194 Cr+40%
Investments₹178 Cr+202%
Inventories₹0 Cr−100%
Trade receivables₹437 Cr+59%
Trade payables₹50 Cr+87%
Change vs the same date a year earlier.
Revenue mix FY26
Broking & Distribution Services56.4%result ₹178 Cr
Advisory Services29.1%result ₹120 Cr
NBFC Services14.5%result ₹17 Cr
Segment revenue as reported, before inter-segment eliminations.