Quarterly results
standalone · as filed with NSE · Q1 FY27 back to Q3 FY21
| ₹ 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 852 | 1,335 | 1,222 | 968 | 540 | 717 | 1,084 | 1,005 | 505 | 557 | 765 | 546 | 471 | 385 | 672 | 485 | 433 | 440 | 668 | 448 | 175 | 590 | 414 |
| Other income | 1.2 | 4.2 | −0 | 0.1 | 0.9 | 0.4 | 1 | 0.1 | 0 | 0.1 | 0.3 | 0 | 0 | 0 | 0 | 0.1 | 0.1 | 0.3 | 0 | 0 | 0 | 0.1 | 0 |
| Total expenses | 767 | 1,272 | 1,124 | 898 | 493 | 683 | 1,036 | 971 | 471 | 534 | 743 | 529 | 451 | 378 | 646 | 474 | 416 | 427 | 647 | 434 | 170 | 579 | 403 |
| EBITDA | 92.8 | 68.8 | 106 | 75.7 | 54.3 | 42 | 54.8 | 38 | 38.2 | 24.3 | 28.8 | 21.9 | 25.2 | 10.3 | 31.4 | 14.5 | 22.1 | 18.9 | 26.3 | 19.3 | 10.4 | 16.3 | 15.6 |
| EBITDA margin | 10.9% | 5.2% | 8.6% | 7.8% | 10.0% | 5.9% | 5.1% | 3.8% | 7.6% | 4.4% | 3.8% | 4.0% | 5.3% | 2.7% | 4.7% | 3.0% | 5.1% | 4.3% | 3.9% | 4.3% | 5.9% | 2.8% | 3.8% |
| Finance costs | 5.3 | 3.8 | 4.6 | 3.8 | 4 | 4 | 4.5 | 2.9 | 3 | 0.5 | 5.3 | 2.8 | 3.1 | 2.8 | 4.2 | 2.3 | 3.7 | 4.1 | 4 | 3.5 | 3.5 | 3.8 | 3 |
| Depreciation | 2.5 | 2.7 | 2.7 | 2.7 | 2.6 | 3.8 | 2 | 1.8 | 1.6 | 1.4 | 1.5 | 1.4 | 1.4 | 1.4 | 1.2 | 1.2 | 1.2 | 1.8 | 1.2 | 1.2 | 1.2 | 1.5 | 0.9 |
| Profit before tax | 86.2 | 66.5 | 98.3 | 69.3 | 48.6 | 34.6 | 49.4 | 33.4 | 33.7 | 22.5 | 22.3 | 17.7 | 20.8 | 6.2 | 26.1 | 11.1 | 17.3 | 13.2 | 21.1 | 14.6 | 5.7 | 11.1 | 11.8 |
| Tax | 21.8 | 15.9 | 24.9 | 17.8 | 12.2 | 9.4 | 12 | 8.2 | 8.6 | 6.3 | 5.6 | 4.4 | 5.2 | 1.7 | 6.5 | 2.8 | 4.3 | 3.7 | 5.3 | 3.7 | 1.5 | 2.7 | 3 |
| Net profit | 64.4 | 50.6 | 73.4 | 51.5 | 36.4 | 25.2 | 37.3 | 25.1 | 25.1 | 16.2 | 16.7 | 13.3 | 15.6 | 4.5 | 19.6 | 8.4 | 12.9 | 9.5 | 15.8 | 10.9 | 4.3 | 8.3 | 8.7 |
| Net margin | 7.6% | 3.8% | 6.0% | 5.3% | 6.7% | 3.5% | 3.4% | 2.5% | 5.0% | 2.9% | 2.2% | 2.4% | 3.3% | 1.2% | 2.9% | 1.7% | 3.0% | 2.2% | 2.4% | 2.4% | 2.4% | 1.4% | 2.1% |
| EPS (₹) | 28.23 | 22.21 | 32.21 | 22.57 | 16.07 | 10.96 | 16.60 | 11.21 | 11.27 | 7.28 | 7.51 | 5.99 | 7.02 | 2.02 | 8.79 | 3.76 | 5.81 | 4.26 | 7.11 | 4.88 | 1.92 | 3.75 | 3.92 |
| Net profit YoY | +76.9% | +101.2% | +96.5% | +104.8% | +45.2% | +55.3% | +123.4% | +88.5% | +60.5% | +261.4% | −14.5% | +59.5% | +20.9% | −52.7% | +23.5% | −23.0% | +203.0% | +13.7% | +81.5% | – | – | – | – |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 |
|---|---|---|---|---|---|---|
| Revenue from operations | 4,065 | 3,311 | 2,340 | 1,975 | 1,731 | 1,218 |
| Other income | 5.2 | 1.6 | 0.4 | 0.2 | 0.3 | 0.1 |
| Total expenses | 3,788 | 3,161 | 2,257 | 1,915 | 1,677 | 1,182 |
| EBITDA | 304 | 173 | 100 | 78.4 | 74.8 | 51.3 |
| EBITDA margin | 7.5% | 5.2% | 4.3% | 4.0% | 4.3% | 4.2% |
| Finance costs | 16.2 | 14.4 | 11.6 | 13 | 15.2 | 10.8 |
| Depreciation | 10.8 | 9.1 | 5.6 | 4.9 | 5.4 | 3.9 |
| Profit before tax | 283 | 151 | 83.4 | 60.6 | 54.6 | 36.7 |
| Tax | 70.9 | 38.3 | 21.5 | 15.3 | 14.2 | 9.2 |
| Net profit | 212 | 113 | 61.9 | 45.3 | 40.4 | 27.5 |
| Net margin | 5.2% | 3.4% | 2.6% | 2.3% | 2.3% | 2.3% |
| EPS (₹) | 92.97 | 50.04 | 27.80 | 20.33 | 18.17 | 12.34 |
| Net profit YoY | +88.0% | +82.2% | +36.5% | +12.1% | +47.2% | – |
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 | −97.3 | −18.9 | −0.3 | 60.3 | 16.7 |
| Investing cash flow | −21.3 | −26.9 | −3.9 | −0.9 | −5.2 |
| Financing cash flow | 121 | 39.5 | 28.3 | −59.1 | −17.9 |
| Capital expenditure | 6.1 | 14.7 | 0 | 1.1 | 7.6 |
| Free cash flow (CFO − capex) | −103 | −33.6 | −0.3 | 59.2 | 9.2 |
Net profit trend
annual, ₹ croreFY21
₹27.5
FY22
₹40.4+47%
FY23
₹45.3+12%
FY24
₹61.9+37%
FY25
₹113+82%
FY26
₹212+88%
Result filings
as filed with NSE · PDF and XBRL| Period | Basis | Filed | Documents |
|---|---|---|---|
| Q1 FY27 | Standalone | 20 Jul 2026 | PDF on NSE XBRL |
| Q4 FY26 | Standalone · audited | – | PDF on NSE XBRL |
| Q4 FY26 | Standalone · audited | 21 May 2026 | PDF on NSE XBRL |
| Q3 FY26 | Standalone | 23 Jan 2026 | PDF on NSE XBRL |
| Q2 FY26 | Standalone | 3 Nov 2025 | PDF on NSE XBRL |
| Q1 FY26 | Standalone | 29 Jul 2025 | PDF on NSE XBRL |
| Q4 FY25 | Standalone · audited | 16 May 2025 | PDF on NSE XBRL |
| Q3 FY25 | Standalone | 7 Feb 2025 | PDF on NSE XBRL |
| Q2 FY25 | Standalone | 28 Oct 2024 | PDF on NSE XBRL |
| Q1 FY25 | Standalone | 18 Jul 2024 | PDF on NSE XBRL |
Annual reports
NSE archiveKey ratios
P/E (TTM)5Y avg 21.0×13.5×
P/B5Y avg 6.66×5.12×
ROEFY26, on average equity40.9%
Net margin5.2%
Debt / equity0.45×
Revenue CAGR (3Y)27.2%
Profit CAGR (3Y)67.2%
EPS (TTM)₹105.08
Market cap₹3,236 Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
5.12×
vs 8-point avg 6.66× (−23%)
3.40× low6.66× avg11.12× high
History points are balance-sheet dates (2022 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹1,143 Cr+36%
Net worth₹633 Cr+57%
Total borrowings₹287 Cr+74%
Cash & bank balances₹26 Cr+12%
Investments₹13 Cr
Inventories₹1,004 Cr+39%
Trade receivables₹2 Cr−25%
Trade payables₹114 Cr−36%
Change vs the same date a year earlier.
Revenue mix FY21
Gems & Jewellery99.9%result ₹47.4 Cr
Windmill0.1%result ₹0.1 Cr
Segment revenue as reported, before inter-segment eliminations.