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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	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
Revenue from operations	3,785	3,373	4,003	3,432	3,455	3,019	3,519	3,130	3,073	2,531	3,138	2,825	2,937	2,849	3,384	2,875	2,873	2,791	2,178	2,008	2,191	2,159	2,047	1,912	1,917	2,195	1,753	1,902	1,888	2,115	1,700
Other income	27.6	46.6	28.7	98.8	22.2	21.3	41.1	53.9	25.9	24	35.1	22.1	17.4	25.8	33.4	32.4	28.4	25.2	21.1	17.3	30.9	17	17.7	26.5	11.5	34.9	31.8	24.2	40.7	20	17.2
Total expenses	3,618	3,197	3,655	3,285	3,307	2,771	3,174	3,088	2,941	2,379	2,784	2,800	2,869	2,585	2,908	2,680	2,317	2,280	1,970	1,809	1,913	1,839	1,910	1,849	1,681	2,000	1,637	1,640	1,557	1,837	1,483
EBITDA	337	353	532	309	304	405	496	181	248	265	445	114	166	346	554	270	635	589	290	283	361	404	222	166	343	288	211	350	398	337	296
EBITDA margin	8.9%	10.5%	13.3%	9.0%	8.8%	13.4%	14.1%	5.8%	8.1%	10.5%	14.2%	4.0%	5.7%	12.2%	16.4%	9.4%	22.1%	21.1%	13.3%	14.1%	16.5%	18.7%	10.8%	8.7%	17.9%	13.1%	12.1%	18.4%	21.1%	15.9%	17.4%
Finance costs	41.1	39.7	48.9	43.1	44	42.6	42.8	38.4	29.1	32.5	15	14.7	25.4	11.9	12.8	11.4	17.5	17.3	23.3	27.4	24.7	28.5	25.6	43.2	46.6	38.2	42.2	36.8	23.7	18.7	41.1
Depreciation	128	138	134	119	112	114	109	101	86.3	80.3	76.6	74	72	70.9	65.6	63	60.8	60.6	59.4	57.2	58.4	55.7	59.8	59.3	60	55.6	53.2	50.2	43.6	39.5	37.6
Profit before tax	274	254	322	246	170	270	386	95.8	158	177	389	47.5	86	289	509	228	585	536	229	216	309	337	154	89.8	248	215	148	287	372	299	235
Tax	−418	−117	110	87.1	56.3	90.9	123	32.9	58	58.7	148	15.2	29.4	103	167	99.9	183	186	70.7	58.2	77.3	84.2	35.8	19.7	40.5	40.2	30	67.1	79.5	73.7	67
Net profit	693	371	213	159	114	179	262	62.9	100	118	240	32.2	56.6	187	342	128	401	350	159	158	232	253	119	69.8	208	175	119	221	292	225	168
Net margin	18.3%	11.0%	5.3%	4.6%	3.3%	5.9%	7.4%	2.0%	3.3%	4.7%	7.7%	1.1%	1.9%	6.6%	10.1%	4.5%	14.0%	12.5%	7.3%	7.9%	10.6%	11.7%	5.8%	3.7%	10.8%	8.0%	6.8%	11.6%	15.5%	10.7%	9.9%
EPS (₹)	44.72	23.71	13.59	10.14	7.27	11.47	16.81	4.04	6.43	7.55	15.42	2.07	3.63	11.97	21.94	8.22	25.73	22.43	10.16	10.12	14.86	16.25	7.63	4.43	12.91	11.25	7.63	14.18	18.67	14.42	10.56
Net profit YoY	+509.2%	+107.3%	−18.9%	+152.3%	+13.5%	+51.9%	+9.0%	+95.2%	+77.3%	−36.9%	−29.7%	−74.8%	–	−53.5%	−2.2%	−19.2%	+73.1%	+38.0%	+33.2%	+126.1%	+11.6%	+44.7%	+0.4%	−68.4%	−29.0%	−22.2%	−29.6%	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19
Revenue from operations	14,264	12,741	11,431	12,080	9,849	8,308	7,767	7,771
Other income	196	142	98.5	120	91.9	92.1	102	87.6
Total expenses	13,445	11,974	10,831	10,786	8,376	7,511	6,958	6,679
EBITDA	1,497	1,330	991	1,606	1,796	1,152	1,192	1,369
EBITDA margin	10.5%	10.4%	8.7%	13.3%	18.2%	13.9%	15.4%	17.6%
Finance costs	176	153	87.6	52.8	85.4	122	164	119
Depreciation	502	410	303	260	238	233	219	157
Profit before tax	992	909	699	1,413	1,565	889	897	1,180
Tax	136	305	252	502	499	217	178	278
Net profit	856	604	447	911	1,067	674	722	904
Net margin	6.0%	4.7%	3.9%	7.5%	10.8%	8.1%	9.3%	11.6%
EPS (₹)	54.73	38.75	28.67	58.41	68.45	43.17	45.96	57.09
Net profit YoY	+41.7%	+35.2%	−50.9%	−14.7%	+58.4%	−6.7%	−20.1%	–

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	1,234	1,128	794	1,296	1,224
Investing cash flow	−1,241	−850	−1,070	−1,543	−904
Financing cash flow	−307	−1.4	169	−235	−259
Capital expenditure	869	845	1,310	1,797	768
Free cash flow (CFO − capex)	365	283	−516	−501	456

Net profit trend

annual, ₹ crore

FY21

₹674

FY22

₹1,067+58%

FY23

₹911−15%

FY24

₹447−51%

FY25

₹604+35%

FY26

₹856+42%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	28 Jul 2026	PDF on NSE XBRL
Q1 FY27	Standalone	28 Jul 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	13 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	13 May 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	20 Jan 2026	PDF on NSE XBRL
Q3 FY26	Standalone	20 Jan 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	28 Oct 2025	PDF on NSE XBRL
Q2 FY26	Standalone	28 Oct 2025	PDF on NSE XBRL
Q1 FY26	Consolidated	21 Jul 2025	PDF on NSE XBRL
Q1 FY26	Standalone	21 Jul 2025	PDF on NSE XBRL

Annual reports

NSE archive

FY268.58 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 22.8×10.6×

P/B5Y avg 2.38×1.98×

ROEFY26, on average equity11.6%

Net margin6.0%

Debt / equity0.36×

Revenue CAGR (3Y)5.7%

Profit CAGR (3Y)-2.0%

EPS (TTM)₹91.59

Market cap₹15,272 Cr

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

P/B vs history

1.98×

vs 8-point avg 2.38× (−17%)

1.89× low2.38× avg2.74× high

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

Balance sheet 31 Mar 2026

Total assets₹14,137 Cr+11%

Net worth₹7,712 Cr+10%

Total borrowings₹2,812 Cr+17%

Cash & bank balances₹306 Cr−51%

Investments₹136 Cr+144%

Inventories₹3,108 Cr+11%

Trade receivables₹1,081 Cr+18%

Trade payables₹1,218 Cr+3%

Change vs the same date a year earlier.

Revenue mix FY26

Chloro-Vinyl32.4%result ₹560 Cr

Sugar31.3%result ₹309 Cr

Shriram Farm Solutions11.8%result ₹289 Cr

Fertiliser10.1%result ₹90 Cr

Fenesta Building Systems7.8%result ₹116 Cr

Bioseed4.6%result ₹49.4 Cr

Others2.0%result ₹−13.7 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	66.52	66.52	66.52	66.52	66.52	66.52	66.52	66.52	66.52	66.52	66.52	66.52
FII	3.89	3.97	3.97	3.97	4.13	4.10	4.00	3.78	3.74	3.75	3.41	2.86
DII	8.46	8.56	8.31	8.25	8.05	7.76	7.65	7.67	8.07	8.10	8.40	8.53
of which MF	1.30	1.12	0.92	0.90	0.68	–	–	–	–	–	–	–
Retail	8.35	8.08	8.34	8.47	8.46	8.69	8.90	9.06	8.66	8.63	8.86	9.23
Other public	12.10	12.17	12.15	12.08	12.08	12.14	12.22	12.25	12.13	12.08	11.87	11.94

54,377 shareholders · NSE shareholding pattern filings.