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Quarterly results

consolidated · 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	128	118	120	310	146	97.5	70.5	98.7	94	73.1	66.4	89	90	67.5	63.1	89.1	69.3	53.3	50.2	53.2	51.9	45.8	45.9	45.8	47	54.1	66.6	102	86.3	80.9	69.4	102	87.1	79.5
Other income	4.6	7.2	5.3	9	4.2	4.8	1.9	2	1.8	4.4	2.2	5	2.2	1	2.1	1.7	1.6	3.5	3.6	0.8	0.7	3.6	0.9	1.6	3.5	7.7	2.7	2	2.9	4.6	2.6	2.4	3.7	0.1
Total expenses	132	131	141	314	150	110	76.8	93.7	89.5	73.6	65.9	86.3	85	66.9	60.5	84.1	64.5	51.2	50.2	49.2	49.1	65.9	45.8	49.2	47.8	89.4	69.7	96.7	81.7	82.4	66.9	94.9	83.9	81.1
EBITDA	17.4	3.5	3.3	41.2	17.5	1.2	−1.2	9.9	9.3	3.8	4.7	6.7	8.9	4.4	5.9	8	7.4	4.1	2.9	7.2	6.2	−17.6	3.1	0.3	3.8	−30.5	3.3	10.6	10	2.4	6.5	11.3	6.6	2.2
EBITDA margin	13.6%	2.9%	2.7%	13.3%	12.0%	1.2%	-1.7%	10.1%	9.9%	5.1%	7.1%	7.5%	9.8%	6.5%	9.3%	8.9%	10.8%	7.7%	5.8%	13.6%	12.0%	-38.3%	6.7%	0.7%	8.1%	-56.3%	4.9%	10.4%	11.6%	3.0%	9.4%	11.1%	7.6%	2.7%
Finance costs	10.6	4	13.5	26.1	12.8	6	0.9	0.7	0.7	0.7	0.7	0.5	0.5	0.3	0.2	0.6	0.5	0.4	0.8	1.1	1.3	1	1.3	1.6	1.7	1.5	2.7	2.1	2.1	1.4	1.7	1.9	1.1	1.6
Depreciation	11.2	12.9	10	18.5	8.7	7.6	4.2	4.2	4.1	3.6	3.5	3.4	3.4	3.6	3.1	2.3	2.2	1.6	2.2	2.1	2.1	1.5	1.7	2.2	2.9	3.4	3.7	3.5	3.4	2.5	2.3	2.4	2.3	2.2
Profit before tax	0.2	−5.7	−20.2	5.5	0.2	−11.8	−4.5	6.9	6.3	3.3	4.7	7.8	7.2	−4.6	−1	6.7	18.1	5.6	3.6	4.9	3.5	−16.5	0.9	−1.9	2.7	−69.1	−0.4	6.9	7.5	3.1	5.1	9.3	7	−1.4
Tax	1.9	3.1	−3.3	1.3	2.9	−2.4	−1.3	3.6	2.1	0.8	1.6	1.9	1.7	−7.1	−5.2	2.3	6.2	0.6	0.5	1.6	0.7	−4.6	1.3	−0.7	1.1	−5.6	0.2	2.2	2.1	0.9	0.8	2.8	2.3	0.6
Net profit	−1.7	−10.4	−17.2	1.5	−3.7	−15.7	−3.1	3.4	4.2	1.9	2.9	5.6	5.5	2.2	4.1	4.4	11.9	4.7	3.1	3.3	2.8	−11.8	−0.4	−1.1	1.5	−63.3	−0.4	5	5.6	2.5	4.9	7.7	4.8	−1.6
Net margin	-1.3%	-8.8%	-14.2%	0.5%	-2.5%	-16.1%	-4.4%	3.4%	4.4%	2.6%	4.4%	6.2%	6.1%	3.2%	6.5%	4.9%	17.1%	8.8%	6.1%	6.2%	5.3%	-25.8%	-0.9%	-2.4%	3.2%	-116.9%	-0.5%	4.9%	6.5%	3.1%	7.1%	7.6%	5.6%	-2.0%
EPS (₹)	-0.31	-1.63	-3.13	0.78	-0.51	-1.74	-0.58	0.63	0.77	0.34	0.53	1.01	0.99	0.40	0.74	1.63	4.19	1.65	1.09	2.32	1.96	-8.45	-0.28	-0.80	1.07	-44.75	-0.51	3.26	3.70	1.55	3.03	4.68	3.24	-1.55
Net profit YoY	+55.0%	+33.9%	−449.8%	−55.8%	−188.6%	−936.4%	−207.9%	−39.3%	−23.6%	−14.1%	−29.1%	+26.3%	−53.9%	−53.1%	+32.2%	+34.2%	+327.6%	+139.5%	+859.2%	+399.4%	+87.2%	+81.4%	−10.9%	−121.9%	−73.4%	−2632.5%	−107.4%	−35.1%	+15.4%	–	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY17
Revenue from operations	548	358	319	291	207	184	309	339	289
Other income	21.5	10.4	13.9	6.4	8.7	9.6	15.2	13.2	12.9
Total expenses	585	364	311	278	199	209	338	328	294
EBITDA	48	22.3	24	25.7	20.5	−10.4	−6.6	26.9	9.8
EBITDA margin	8.8%	6.2%	7.5%	8.8%	9.9%	-5.6%	-2.1%	7.9%	3.4%
Finance costs	43.6	8.3	2.5	1.6	3.5	5.6	8.3	6.2	6.4
Depreciation	41.4	20.2	13.8	11.2	8.1	8.4	14	9.5	8.5
Profit before tax	−20.4	−0.1	23	19.2	17.6	−14.7	−55.1	24.4	7.8
Tax	1.1	1.9	6	−3.8	3.4	−2.8	−1	6.8	4.7
Net profit	−26	−11.3	15.8	22.5	13.8	−11.8	−53.1	20	5.7
Net margin	-4.8%	-3.2%	5.0%	7.7%	6.6%	-6.4%	-17.2%	5.9%	2.0%
EPS (₹)	-3.98	-0.36	2.89	4.08	4.87	-8.46	-38.29	12.50	2.29
Net profit YoY	−130.8%	−171.4%	−29.9%	+63.4%	+216.7%	+77.7%	−365.6%	–	–

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	79.1	16.4	25.6	24.3	33.4
Investing cash flow	−6.5	−245	−4.3	7.6	−0.7
Financing cash flow	−52.6	208	−5.6	−22.1	−34.8
Capital expenditure	29.3	30.5	0.8	28.3	21
Free cash flow (CFO − capex)	49.8	−14.1	24.8	−4	12.4

Net profit trend

annual, ₹ crore

FY21

₹−11.8

FY22

₹13.8+217%

FY23

₹22.5+63%

FY24

₹15.8−30%

FY25

₹−11.3−171%

FY26

₹−26−131%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	4 Aug 2026	PDF on NSE XBRL
Q1 FY27	Standalone	4 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
Q4 FY26	Standalone · audited	–	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	–	PDF XBRL
Q2 FY26	Consolidated	7 Nov 2025	PDF XBRL
Q2 FY26	Standalone	7 Nov 2025	PDF XBRL

Annual reports

NSE archive

FY259.20 MB FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 20.6×-10.7×

P/B5Y avg 1.49×1.18×

ROEFY26, on average equity-9.9%

Net margin-4.8%

Debt / equity0.92×

Revenue CAGR (3Y)23.5%

Profit CAGR (3Y)–

EPS (TTM)₹-5.11

Market cap₹297 Cr

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

P/B vs history

1.18×

vs 8-point avg 1.49× (−21%)

0.95× low1.49× avg2.12× high

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

Balance sheet 31 Mar 2026

Total assets₹898 Cr+0%

Net worth₹253 Cr−7%

Total borrowings₹233 Cr−4%

Cash & bank balances₹46 Cr+78%

Investments₹1 Cr+0%

Inventories₹12 Cr−15%

Trade receivables₹80 Cr−28%

Trade payables₹80 Cr+18%

Change vs the same date a year earlier.

Revenue mix FY26

DEX40.7%result ₹34.5 Cr

EdTech29.8%result ₹−5.3 Cr

MarTech29.5%result ₹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	51.78	51.78	51.78	51.78	53.16	53.16	53.14	53.14	53.52	53.52	53.52	52.51
FII	7.80	7.89	7.87	7.99	7.98	8.12	8.20	8.23	8.13	8.13	8.28	8.09
DII	–	–	–	–	–	0.02	0.00	0.00	0.00	0.00	0.00	0.00
Retail	30.29	29.68	28.98	28.87	26.79	26.11	25.73	25.19	26.38	25.95	24.32	25.47
Other public	10.13	10.65	11.37	11.36	12.07	12.59	12.93	13.44	11.97	12.40	13.88	13.93

18,713 shareholders · NSE shareholding pattern filings.