Quarterly results
consolidated · as filed with NSE · Q1 FY27 back to Q2 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 | Q1 FY23 | Q4 FY22 | Q3 FY22 | Q2 FY22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 1,581 | 1,437 | 1,441 | 1,377 | 1,357 | 1,213 | 1,294 | 1,222 | 1,222 | 1,047 | 843 | 819 | 847 | 755 | 791 | 747 | 705 | 591 | 624 | 516 |
| Other income | 19.2 | 14.1 | 12.3 | 5.1 | 13.5 | 13.2 | 9.1 | 4.8 | 9.9 | 14.6 | 4.6 | 6.6 | 6.8 | 11 | 8.1 | 4.5 | 9 | 2.4 | 3.9 | 5.2 |
| Total expenses | 1,577 | 1,469 | 1,446 | 1,408 | 1,367 | 1,248 | 1,295 | 1,231 | 1,201 | 1,057 | 838 | 793 | 793 | 725 | 725 | 682 | 637 | 548 | 562 | 473 |
| EBITDA | 254 | 220 | 231 | 192 | 206 | 186 | 213 | 196 | 216 | 172 | 146 | 154 | 173 | 151 | 174 | 166 | 165 | 140 | 148 | 128 |
| EBITDA margin | 16.1% | 15.3% | 16.0% | 14.0% | 15.2% | 15.3% | 16.5% | 16.0% | 17.7% | 16.5% | 17.4% | 18.8% | 20.5% | 20.0% | 22.0% | 22.3% | 23.4% | 23.6% | 23.7% | 24.8% |
| Finance costs | 70.1 | 70.1 | 70 | 68.8 | 66.8 | 69.5 | 67 | 65.3 | 63 | 56.7 | 48.2 | 41.7 | 40.4 | 42 | 37.8 | 34.8 | 32.8 | 32.2 | 29.6 | 32.8 |
| Depreciation | 180 | 182 | 167 | 155 | 150 | 152 | 147 | 139 | 132 | 126 | 93 | 86.3 | 79.6 | 79.1 | 70.6 | 66 | 63.7 | 64.8 | 55.8 | 52.6 |
| Profit before tax | 22.9 | −18.1 | −14.8 | −26.6 | 3.1 | −22.1 | 8.6 | −3.9 | 30.5 | −38 | 9.7 | 19 | 13 | 41.2 | 64.8 | 58.8 | 77.1 | 42.5 | 66.9 | 47.2 |
| Tax | 5.8 | −4.7 | −4.9 | −5.2 | 0.5 | −5.6 | 16.2 | 1 | 8.1 | 11 | 4.6 | −16.8 | 14.6 | −18.6 | −6.2 | 1.9 | 2.4 | −33.5 | 0.9 | 0.6 |
| Net profit | 17.1 | −9.8 | −11 | −23.9 | 2.2 | −16.8 | −7.6 | −4.9 | 22.4 | −49 | 5.1 | 35.8 | −1.6 | 59.9 | 71 | 56.8 | 74.8 | 75.9 | 66 | 46.6 |
| Net margin | 1.1% | -0.7% | -0.8% | -1.7% | 0.2% | -1.4% | -0.6% | -0.4% | 1.8% | -4.7% | 0.6% | 4.4% | -0.2% | 7.9% | 9.0% | 7.6% | 10.6% | 12.9% | 10.6% | 9.0% |
| EPS (₹) | 0.12 | -0.11 | -0.07 | -0.16 | 0.03 | 0.12 | 0.00 | 0.00 | 0.25 | -0.06 | 0.08 | 0.28 | 0.10 | 0.50 | 0.59 | 0.49 | 0.61 | 0.63 | 0.52 | 0.39 |
| Net profit YoY | +667.7% | +41.3% | −43.6% | −386.6% | −90.1% | +65.8% | −250.8% | −113.7% | +1506.3% | −181.8% | −92.9% | −37.0% | −102.1% | −21.2% | +7.6% | +22.0% | – | – | – | – |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 |
|---|---|---|---|---|---|
| Revenue from operations | 5,611 | 4,951 | 3,556 | 2,998 | 2,084 |
| Other income | 45.1 | 37 | 32.6 | 32.6 | 16.1 |
| Total expenses | 5,691 | 4,975 | 3,482 | 2,768 | 1,960 |
| EBITDA | 850 | 811 | 646 | 655 | 472 |
| EBITDA margin | 15.1% | 16.4% | 18.2% | 21.9% | 22.7% |
| Finance costs | 276 | 265 | 187 | 147 | 127 |
| Depreciation | 654 | 570 | 385 | 278 | 221 |
| Profit before tax | −56.4 | 13.1 | 3.7 | 242 | 123 |
| Tax | −14.3 | 19.7 | 13.3 | −20.6 | −32 |
| Net profit | −42.5 | −6.9 | −9.7 | 263 | 155 |
| Net margin | -0.8% | -0.1% | -0.3% | 8.8% | 7.4% |
| EPS (₹) | -0.31 | 0.08 | 0.39 | 2.20 | 1.32 |
| Net profit YoY | −516.4% | +28.5% | −103.7% | +69.2% | – |
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 | 919 | 900 | 592 | 637 | 451 |
| Investing cash flow | −440 | −462 | −1,551 | −350 | −375 |
| Financing cash flow | −190 | −425 | 1,063 | −283 | −58.4 |
| Capital expenditure | 459 | 491 | 478 | 437 | 306 |
| Free cash flow (CFO − capex) | 460 | 409 | 114 | 200 | 144 |
Net profit trend
annual, ₹ croreFY22
₹155
FY23
₹263+69%
FY24
₹−9.7−104%
FY25
₹−6.9+29%
FY26
₹−42.5−516%
Result filings
as filed with NSE · PDF and XBRL| Period | Basis | Filed | Documents |
|---|---|---|---|
| Q1 FY27 | Consolidated | 29 Jul 2026 | PDF on NSE XBRL |
| Q1 FY27 | Standalone | 29 Jul 2026 | PDF on NSE XBRL |
| Q4 FY26 | Consolidated · audited | 15 May 2026 | PDF on NSE XBRL |
| Q4 FY26 | Standalone · audited | – | PDF on NSE XBRL |
| Q4 FY26 | Standalone · audited | 15 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 | 6 Nov 2025 | PDF on NSE XBRL |
| Q2 FY26 | Standalone | – | PDF XBRL |
| Q2 FY26 | Standalone | 6 Nov 2025 | PDF on NSE XBRL |
Annual reports
NSE archiveKey ratios
P/E (TTM)5Y avg 67.9×-601.9×
P/B5Y avg 18.63×10.80×
ROEFY26, on average equity-3.2%
Net margin-0.8%
Debt / equity0.88×
Revenue CAGR (3Y)23.2%
Profit CAGR (3Y)–
EPS (TTM)₹-0.22
Market cap₹16,647 Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
10.80×
vs 8-point avg 18.63× (−42%)
7.56× low18.63× avg29.13× high
History points are balance-sheet dates (2022 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹6,750 Cr+26%
Net worth₹1,542 Cr+41%
Total borrowings₹1,360 Cr+46%
Cash & bank balances₹491 Cr+171%
Investments₹0 Cr
Inventories₹165 Cr+11%
Trade receivables₹64 Cr+55%
Trade payables₹615 Cr+39%
Change vs the same date a year earlier.