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Quarterly results

consolidated · as filed with NSE · Q1 FY27 back to Q2 FY19

₹ 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	Q4 FY19	Q3 FY19	Q2 FY19
Revenue from operations	2,076	1,927	1,849	1,781	1,712	1,909	1,926	1,849	1,676	1,861	1,821	1,779	1,687	1,751	1,618	1,396	1,250	1,181	1,183	1,112	1,058	1,093	1,044	1,003	992	1,074	1,106	1,159	1,163	1,188	1,187
Other income	6.9	26.6	30.9	50	69.7	41	−16.6	51.1	21.1	23.4	18.8	13.5	10.2	0.5	27.5	19.7	33.7	49.4	22.1	14.9	25.7	40.3	21.9	9.3	68.4	53.9	49.8	26.4	78.9	−18.7	56.9
Total expenses	1,910	1,786	1,696	1,650	1,565	1,694	1,736	1,646	1,502	1,625	1,590	1,546	1,466	1,528	1,431	1,286	1,124	1,022	1,031	965	930	999	941	904	952	1,041	1,013	1,060	1,031	1,050	1,063
EBITDA	264	224	237	219	231	303	279	297	265	335	326	326	316	322	283	205	193	212	212	207	186	155	164	158	98.6	93.3	152	160	167	174	161
EBITDA margin	12.7%	11.6%	12.8%	12.3%	13.5%	15.9%	14.5%	16.0%	15.8%	18.0%	17.9%	18.3%	18.7%	18.4%	17.5%	14.7%	15.5%	18.0%	17.9%	18.6%	17.6%	14.1%	15.7%	15.8%	9.9%	8.7%	13.8%	13.8%	14.3%	14.7%	13.6%
Finance costs	21.7	14.5	14.1	15.9	16.3	19.1	20.5	27.5	25.7	32.4	28.8	27	27.8	26.2	26.3	31.2	16.3	10.4	10.5	8.8	9.6	11.2	12	10.1	10	12.5	11.9	12.5	8.3	8.5	8.7
Depreciation	76.7	67.9	70.1	72.2	68	67.9	67.5	66	65.8	67.2	66.1	65.8	67.6	72.6	69.9	63	51.1	42.9	48.6	51.7	49	49.1	48.6	48.4	48.4	47.9	46.9	48.7	26.1	28	28.8
Profit before tax	172	96.7	142	201	216	257	174	254	195	259	200	240	219	208	206	109	160	209	175	162	154	135	125	109	109	86.8	143	126	208	119	181
Tax	62.4	29.5	42.1	53.7	56.2	66.1	45.9	67.7	47	62.2	46.5	56.7	50.2	44.3	49.7	29.4	43.4	54.3	43	40.3	38.5	31.5	29.5	25.1	27.2	40.1	33.3	28.1	31.8	26.6	53.9
Net profit	109	65.5	97.2	143	157	186	128	187	148	197	153	184	169	163	156	79.1	116	154	132	121	115	103	95.4	83.9	81.4	46.2	108	97.5	176	92.5	127
Net margin	5.2%	3.4%	5.3%	8.0%	9.2%	9.8%	6.6%	10.1%	8.8%	10.6%	8.4%	10.3%	10.0%	9.3%	9.6%	5.7%	9.3%	13.1%	11.1%	10.9%	10.9%	9.4%	9.1%	8.4%	8.2%	4.3%	9.7%	8.4%	15.1%	7.8%	10.7%
EPS (₹)	9.42	4.96	8.32	11.55	13.95	15.47	11.11	16.28	13.09	17.22	13.41	16.27	15.35	14.91	14.26	7.24	10.63	0.00	12.07	11.09	10.48	9.37	8.67	7.63	7.40	4.11	9.85	8.95	15.72	8.16	11.17
Net profit YoY	−30.9%	−64.9%	−23.9%	−23.4%	+6.6%	−5.3%	−16.6%	+1.6%	−12.7%	+20.6%	−1.8%	+132.1%	+45.7%	+5.8%	+18.4%	−34.8%	+1.0%	+49.6%	+38.2%	+44.6%	+41.3%	+123.2%	−11.3%	−13.9%	–	−73.8%	+16.3%	−23.2%	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19
Revenue from operations	7,268	7,360	7,147	6,016	4,534	4,132	4,427	4,618
Other income	177	96.6	65.9	81.4	112	140	158	134
Total expenses	6,697	6,577	6,227	5,369	3,948	3,795	4,115	4,129
EBITDA	910	1,143	1,303	1,003	818	575	549	633
EBITDA margin	12.5%	15.5%	18.2%	16.7%	18.0%	13.9%	12.4%	13.7%
Finance costs	60.8	92.8	116	100	39.3	43.3	48.6	32.6
Depreciation	278	267	267	257	192	195	188	111
Profit before tax	656	880	918	681	698	477	471	619
Tax	182	227	216	167	176	113	127	143
Net profit	463	648	703	514	522	364	341	477
Net margin	6.4%	8.8%	9.8%	8.6%	11.5%	8.8%	7.7%	10.3%
EPS (₹)	38.78	55.95	62.24	47.03	0.00	33.08	31.14	42.43
Net profit YoY	−28.6%	−7.8%	+36.6%	−1.5%	+43.6%	+6.6%	−28.5%	–

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	787	790	726	554	1,061
Investing cash flow	112	−145	−533	−1,033	−382
Financing cash flow	−569	−58.2	−266	−109	−541
Capital expenditure	97.9	104	85.3	67.5	64.7
Free cash flow (CFO − capex)	690	686	641	486	996

Net profit trend

annual, ₹ crore

FY21

₹364

FY22

₹522+44%

FY23

₹514−2%

FY24

₹703+37%

FY25

₹648−8%

FY26

₹463−29%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	23 Jul 2026	PDF on NSE XBRL
Q1 FY27	Standalone	23 Jul 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	–	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
Q4 FY26	Standalone · audited	–	PDF on NSE XBRL
Q3 FY26	Consolidated	22 Jan 2026	PDF on NSE XBRL
Q3 FY26	Standalone	22 Jan 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	16 Oct 2025	PDF on NSE XBRL
Q2 FY26	Standalone	16 Oct 2025	PDF on NSE XBRL

Annual reports

NSE archive

FY269.60 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 23.2×29.4×

P/B5Y avg 3.29×2.14×

ROEFY26, on average equity8.4%

Net margin6.4%

Debt / equity0.03×

Revenue CAGR (3Y)6.5%

Profit CAGR (3Y)-3.4%

EPS (TTM)₹37.26

Market cap₹12,173 Cr

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

P/B vs history

2.14×

vs 8-point avg 3.29× (−35%)

1.47× low3.29× avg5.21× high

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

Balance sheet 31 Mar 2026

Total assets₹8,324 Cr+8%

Net worth₹5,682 Cr+7%

Total borrowings₹166 Cr−22%

Cash & bank balances₹1,458 Cr+36%

Investments₹408 Cr−8%

Inventories₹653 Cr+13%

Trade receivables₹1,306 Cr−7%

Trade payables₹537 Cr+36%

Change vs the same date a year earlier.

Revenue mix FY26

Digital, Engineering & Technology (DET)79.2%result ₹691 Cr

Design Led Manufacturing (DLM)17.2%result ₹108 Cr

Semiconductors3.1%result ₹−108 Cr

Others0.5%result ₹−33.1 Cr

Segment revenue as reported, before inter-segment eliminations.

Shareholding 15 Jul 2026

%	Jul 26	Jun 26	Mar 26	Dec 25	Sept 25	Jun 25	Mar 25	Dec 24	Sept 24	Jun 24	Mar 24	Dec 23
Promoter	24.70	23.28	23.28	23.29	23.28	23.28	23.29	23.14	23.15	23.16	23.16	23.20
FII	14.53	14.52	15.32	15.28	17.56	21.37	23.85	28.23	28.38	29.47	31.05	34.10
DII	37.49	39.00	40.97	39.49	38.41	35.63	34.12	30.32	29.72	27.09	25.92	22.69
of which MF	30.44	31.79	33.29	31.99	31.65	29.47	–	–	–	–	–	–
Retail	15.10	15.32	12.90	13.63	12.81	11.84	11.60	11.26	11.69	12.88	12.20	12.32
Other public	7.65	7.41	6.94	7.70	7.30	7.20	6.35	6.24	6.24	6.57	6.78	6.80

2,26,950 shareholders · NSE shareholding pattern filings.