Quarterly results
consolidated · as filed with NSE · Q1 FY27 back to Q4 FY18
| ₹ 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 | Q3 FY21 | Q2 FY21 | Q1 FY21 | Q4 FY20 | Q3 FY20 | Q2 FY20 | Q1 FY20 | Q4 FY19 | Q3 FY19 | Q2 FY19 | Q4 FY18 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 9,018 | 7,882 | 10,316 | 11,624 | 8,724 | 6,811 | 8,720 | 9,330 | 6,747 | 5,557 | 7,770 | 9,059 | 7,026 | 6,860 | 9,917 | 11,328 | 7,146 | 5,667 | 6,529 | 6,978 | 4,354 | 4,701 | 5,836 | 4,142 | 4,245 | 4,082 | 5,677 | 3,126 | 3,652 | 3,713 | 5,838 | 3,387 |
| Other income | 29.9 | 48.8 | 59.5 | 151 | 89.7 | 112 | 117 | 69.4 | 60.2 | 123 | 41.2 | 151 | −11.2 | 5 | −61.3 | 28.6 | 59.7 | 89 | 42.1 | 26.5 | 57.3 | −6.5 | 13.7 | 15.5 | 15.9 | 32.3 | 21 | 26.9 | 19.6 | 54.1 | 9.1 | −8.1 |
| Total expenses | 8,625 | 7,615 | 9,787 | 10,713 | 8,198 | 6,519 | 8,247 | 8,576 | 6,464 | 5,287 | 7,514 | 8,177 | 6,535 | 6,409 | 9,181 | 10,549 | 6,586 | 5,174 | 6,037 | 6,356 | 4,035 | 4,267 | 5,103 | 3,884 | 3,804 | 3,777 | 5,213 | 3,164 | 3,372 | 3,554 | 5,409 | 3,284 |
| EBITDA | 751 | 611 | 835 | 1,198 | 805 | 530 | 702 | 972 | 483 | 469 | 421 | 1,057 | 668 | 644 | 914 | 950 | 693 | 619 | 613 | 746 | 434 | 565 | 876 | 431 | 625 | 477 | 660 | 161 | 470 | 318 | 604 | 259 |
| EBITDA margin | 8.3% | 7.8% | 8.1% | 10.3% | 9.2% | 7.8% | 8.1% | 10.4% | 7.2% | 8.4% | 5.4% | 11.7% | 9.5% | 9.4% | 9.2% | 8.4% | 9.7% | 10.9% | 9.4% | 10.7% | 10.0% | 12.0% | 15.0% | 10.4% | 14.7% | 11.7% | 11.6% | 5.1% | 12.9% | 8.6% | 10.3% | 7.7% |
| Finance costs | 115 | 119 | 103 | 129 | 104 | 96.4 | 98.6 | 93.9 | 83.6 | 86.3 | 52.9 | 74.2 | 82 | 87.1 | 87.4 | 79 | 44.7 | 37.8 | 37.9 | 42 | 34.2 | 48.1 | 58.7 | 88.8 | 96.2 | 90.4 | 115 | 129 | 112 | 93.4 | 110 | 91.2 |
| Depreciation | 243 | 226 | 204 | 158 | 176 | 142 | 130 | 123 | 117 | 113 | 112 | 101 | 93.9 | 105 | 91.5 | 91.8 | 88.1 | 87.6 | 83.7 | 82 | 80.7 | 83 | 83.6 | 83.8 | 87 | 81.6 | 81.2 | 69.1 | 78.9 | 66.1 | 64.4 | 65.8 |
| Profit before tax | 423 | −162 | 588 | 1,062 | 616 | 751 | 590 | 824 | 343 | 393 | 297 | 1,033 | 481 | 456 | 674 | 807 | 664 | 583 | 520 | 649 | 377 | 330 | 747 | 273 | 457 | 337 | 485 | −10.4 | 295 | 212 | 419 | 96.9 |
| Tax | 111 | 125 | 151 | 296 | 151 | 195 | 166 | 219 | 102 | 88 | 71.2 | 247 | 152 | 141 | 182 | 242 | 171 | 152 | 126 | 178 | 98.9 | 84.7 | 185 | 145 | 206 | 75.6 | 104 | −7.9 | 94.1 | 67.6 | 168 | 57.7 |
| Net profit | 312 | −287 | 437 | 766 | 464 | 539 | 416 | 592 | 226 | 294 | 217 | 782 | 325 | 287 | 482 | 565 | 494 | 429 | 395 | 471 | 280 | 245 | 563 | 130 | 250 | 261 | 380 | −3.1 | 202 | 145 | 250 | 40.5 |
| Net margin | 3.5% | -3.6% | 4.2% | 6.6% | 5.3% | 7.9% | 4.8% | 6.3% | 3.3% | 5.3% | 2.8% | 8.6% | 4.6% | 4.2% | 4.9% | 5.0% | 6.9% | 7.6% | 6.0% | 6.8% | 6.4% | 5.2% | 9.6% | 3.1% | 5.9% | 6.4% | 6.7% | -0.1% | 5.5% | 3.9% | 4.3% | 1.2% |
| EPS (₹) | 7.96 | -18.74 | 13.05 | 23.87 | 13.85 | 16.14 | 10.97 | 17.22 | 5.15 | 12.41 | 6.66 | 25.48 | 6.13 | 10.08 | 14.14 | 13.60 | 15.57 | 17.06 | 12.85 | 13.77 | 7.49 | 6.02 | 17.95 | 1.66 | 8.88 | 8.86 | 10.25 | -1.56 | 8.93 | 4.77 | 5.99 | 0.65 |
| Net profit YoY | −32.9% | −153.2% | +5.2% | +29.5% | +105.6% | +83.3% | +91.9% | −24.3% | −30.5% | +2.6% | −55.0% | +38.4% | −34.3% | −33.1% | +22.1% | +19.9% | +76.6% | – | +60.8% | −16.3% | +115.1% | −6.1% | +47.9% | +4339.1% | +24.1% | +79.9% | +52.0% | – | +398.3% | – | – | – |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 | FY20 | FY19 | FY18 |
|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 38,534 | 31,609 | 29,413 | 35,244 | 23,528 | 17,129 | 16,565 | 15,438 |
| Other income | 349 | 359 | 304 | 39.2 | 216 | 18.9 | −47.6 | 173 |
| Total expenses | 36,302 | 29,806 | 27,514 | 32,725 | 21,602 | 15,879 | 15,657 | 14,656 |
| EBITDA | 3,450 | 2,687 | 2,616 | 3,194 | 2,412 | 1,999 | 1,605 | 1,369 |
| EBITDA margin | 9.0% | 8.5% | 8.9% | 9.1% | 10.3% | 11.7% | 9.7% | 8.9% |
| Finance costs | 454 | 372 | 295 | 298 | 152 | 430 | 425 | 336 |
| Depreciation | 763 | 512 | 421 | 376 | 334 | 319 | 272 | 251 |
| Profit before tax | 2,103 | 2,508 | 2,203 | 2,602 | 2,128 | 1,269 | 837 | 868 |
| Tax | 723 | 682 | 558 | 737 | 555 | 377 | 399 | 351 |
| Net profit | 1,380 | 1,773 | 1,618 | 1,828 | 1,574 | 889 | 438 | 517 |
| Net margin | 3.6% | 5.6% | 5.5% | 5.2% | 6.7% | 5.2% | 2.6% | 3.4% |
| EPS (₹) | 32.03 | 49.47 | 50.68 | 53.39 | 51.17 | 26.43 | 8.67 | 14.46 |
| Net profit YoY | −22.1% | +9.6% | −11.5% | +16.1% | – | +103.1% | −15.4% | – |
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 | 1,542 | 1,936 | 1,972 | 359 | 2,278 |
| Investing cash flow | −174 | −2,782 | −1,740 | 486 | −1,733 |
| Financing cash flow | −551 | 73.8 | −497 | −184 | −499 |
| Capital expenditure | 1,617 | 1,046 | 975 | 860 | 449 |
| Free cash flow (CFO − capex) | −75.8 | 890 | 998 | −501 | 1,829 |
Net profit trend
annual, ₹ croreFY20
₹889
FY22
₹1,574+77%
FY23
₹1,828+16%
FY24
₹1,618−11%
FY25
₹1,773+10%
FY26
₹1,380−22%
Result filings
as filed with NSE · PDF and XBRL| Period | Basis | Filed | Documents |
|---|---|---|---|
| Q1 FY27 | Consolidated | 12 Aug 2026 | PDF on NSE XBRL |
| Q1 FY27 | Standalone | 12 Aug 2026 | PDF on NSE XBRL |
| Q4 FY26 | Consolidated · audited | 26 May 2026 | PDF on NSE XBRL |
| Q4 FY26 | Standalone · audited | 26 May 2026 | PDF on NSE XBRL |
| Q3 FY26 | Consolidated | 12 Feb 2026 | PDF on NSE XBRL |
| Q3 FY26 | Standalone | 12 Feb 2026 | PDF on NSE XBRL |
| Q2 FY26 | Consolidated | 11 Nov 2025 | PDF on NSE XBRL |
| Q2 FY26 | Standalone | 11 Nov 2025 | PDF on NSE XBRL |
| Q1 FY26 | Consolidated | 6 Aug 2025 | PDF on NSE XBRL |
| Q1 FY26 | Standalone | 6 Aug 2025 | PDF on NSE XBRL |
Annual reports
NSE archiveKey ratios
P/E (TTM)5Y avg 7.1×10.2×
P/B5Y avg 1.69×1.43×
ROEFY26, on average equity16.5%
Net margin3.6%
Debt / equity0.33×
Revenue CAGR (3Y)3.0%
Profit CAGR (3Y)-8.9%
EPS (TTM)₹69.00
Market cap₹12,538 Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
1.43×
vs 8-point avg 1.69× (−15%)
1.37× low1.69× avg2.11× high
History points are balance-sheet dates (2022 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹29,254 Cr+20%
Net worth₹8,766 Cr+10%
Total borrowings₹2,854 Cr+35%
Cash & bank balances₹1,222 Cr+202%
Investments₹2,468 Cr+132%
Inventories₹8,661 Cr+30%
Trade receivables₹2,361 Cr+34%
Trade payables₹4,415 Cr−41%
Change vs the same date a year earlier.
Revenue mix FY26
a. Nutrient and allied business70.8%result ₹2,464 Cr
c. Sugar13.7%result ₹54.1 Cr
b. Crop protection10.1%result ₹511 Cr
e. Distillery2.9%result ₹−13.8 Cr
g. Consumer products1.6%result ₹−109 Cr
f. Nutraceuticals0.5%result ₹18.7 Cr
d. Co-generation0.3%result ₹−46.8 Cr
Segment revenue as reported, before inter-segment eliminations.