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Quarterly results

consolidated · as filed with NSE · Q1 FY27 back to Q4 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	Q1 FY20	Q4 FY19
Revenue from operations	1,426	1,493	1,472	1,396	1,558	1,701	1,777	1,828	2,012	2,004	1,869	1,919	1,685	1,872	1,852	1,784	1,767	1,577	1,433	1,165	1,097	1,228	1,163	750	330	713	693	653	653	0
Other income	39.2	37.5	53.9	95.2	28	38.6	39.2	21.1	24.1	34.3	22.8	18.2	27	36.3	15.3	17	16.3	8.6	17.6	21.3	15.7	11.5	29.8	12.3	4.6	4.8	7.3	12.7	8.4	0
Total expenses	1,396	1,508	1,519	1,384	1,464	1,613	1,603	1,636	1,731	1,779	1,546	1,707	1,612	1,788	1,772	1,729	1,656	1,443	1,320	1,104	1,026	1,151	1,076	728	387	705	657	650	618	0
EBITDA	100	61.8	34.1	92.8	170	160	255	268	354	311	406	300	160	193	187	154	203	217	182	132	159	172	174	81.6	3.1	79	102	82.8	102	0
EBITDA margin	7.0%	4.1%	2.3%	6.7%	10.9%	9.4%	14.3%	14.6%	17.6%	15.5%	21.7%	15.6%	9.5%	10.3%	10.1%	8.7%	11.5%	13.8%	12.7%	11.4%	14.5%	14.0%	15.0%	10.9%	0.9%	11.1%	14.8%	12.7%	15.6%	–
Finance costs	27.2	32.2	36.9	38.3	36.4	34.5	44.6	40.3	41.3	51.5	53.1	57.3	56.9	77.2	77.2	69.3	62.1	52.7	42.1	41.2	60.2	65	56.5	42.8	46.4	55.8	52.7	65.8	53.3	0
Depreciation	43.4	44.4	44.6	42.9	40.7	37.4	36.7	36.1	31.8	34.2	29.6	30.4	30.2	30.7	30.2	30.1	30.2	30.6	27.3	29.7	28.2	29.6	31.1	16.6	13.9	15.3	14.2	14.1	13.6	0
Profit before tax	68.7	22.7	−31.8	107	121	126	213	212	305	260	346	231	100	121	95.3	71.9	127	143	130	82.7	86.6	88.8	117	−210	−52.6	12.7	42.7	15.6	43.5	0
Tax	20.3	6.7	−9.9	28.5	32.1	−41.9	52.6	57.3	78.5	32.7	83.1	56.2	25.3	31.6	16.8	18.8	32	29.6	33.2	16.6	16.7	22.2	31.7	4.5	−18.1	−4.3	11.7	2.4	18.5	0
Net profit	48.4	16	−21.9	78.3	89.1	168	160	155	226	227	263	175	74.9	89.5	78.5	53	95.2	113	96.7	66.1	69.9	66.6	84.8	−206	−37.7	37.9	59	25.7	38.8	0
Net margin	3.4%	1.1%	-1.5%	5.6%	5.7%	9.9%	9.0%	8.5%	11.2%	11.3%	14.1%	9.1%	4.4%	4.8%	4.2%	3.0%	5.4%	7.2%	6.7%	5.7%	6.4%	5.4%	7.3%	-27.4%	-11.4%	5.3%	8.5%	3.9%	5.9%	–
EPS (₹)	0.78	0.26	-0.35	1.27	1.44	2.72	2.59	2.51	3.65	3.71	4.42	2.94	1.26	1.50	1.32	0.89	1.60	1.90	1.63	1.05	1.05	0.98	1.32	-4.80	-0.87	0.87	1.37	0.63	0.96	0.00
Net profit YoY	−45.7%	−90.5%	−113.7%	−49.6%	−60.6%	−25.9%	−39.2%	−11.1%	+201.7%	+153.8%	+235.5%	+229.3%	−21.3%	−20.8%	−18.8%	−19.8%	+36.1%	+69.8%	+14.0%	+132.2%	+285.6%	+75.4%	+43.8%	−898.7%	−197.1%	–	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19
Revenue from operations	5,918	7,320	7,478	7,276	5,281	3,471	2,711	2,699
Other income	215	123	102	84.9	55.8	58.2	33.2	56.9
Total expenses	5,875	6,587	6,643	6,945	4,892	3,342	2,630	2,598
EBITDA	359	1,036	1,178	738	698	431	366	395
EBITDA margin	6.1%	14.1%	15.8%	10.1%	13.2%	12.4%	13.5%	14.6%
Finance costs	144	161	219	286	195	211	228	235
Depreciation	173	142	125	121	115	91.2	57.1	58.5
Profit before tax	219	856	937	415	444	−57	114	−25.5
Tax	57.4	146	197	99.2	96.7	40.3	28.2	−18
Net profit	161	710	740	316	348	−91.9	161	38.7
Net margin	2.7%	9.7%	9.9%	4.3%	6.6%	-2.6%	6.0%	1.4%
EPS (₹)	2.61	11.48	12.35	5.31	5.84	-3.37	3.85	0.99
Net profit YoY	−77.2%	−4.1%	+134.1%	−9.0%	+478.3%	−156.9%	+317.7%	–

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	1,147	480	806	452	−279
Investing cash flow	−136	−142	−36.5	168	−329
Financing cash flow	−900	−454	−720	−604	609
Capital expenditure	130	278	244	188	195
Free cash flow (CFO − capex)	1,017	203	561	265	−474

Net profit trend

annual, ₹ crore

FY21

₹−91.9

FY22

₹348+478%

FY23

₹316−9%

FY24

₹740+134%

FY25

₹710−4%

FY26

₹161−77%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	7 Aug 2026	PDF on NSE XBRL
Q1 FY27	Standalone	7 Aug 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	18 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	18 May 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	6 Feb 2026	PDF on NSE XBRL
Q3 FY26	Standalone	6 Feb 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	10 Nov 2025	PDF XBRL
Q2 FY26	Standalone	10 Nov 2025	PDF XBRL
Q1 FY26	Consolidated	6 Aug 2025	PDF XBRL
Q1 FY26	Standalone	6 Aug 2025	PDF XBRL

Annual reports

NSE archive

FY265.47 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 14.5×37.0×

P/B5Y avg 1.16×0.75×

ROEFY26, on average equity2.8%

Net margin2.7%

Debt / equity0.26×

Revenue CAGR (3Y)-6.7%

Profit CAGR (3Y)-20.1%

EPS (TTM)₹1.95

Market cap₹4,472 Cr

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

P/B vs history

0.75×

vs 8-point avg 1.16× (−35%)

0.45× low1.16× avg2.40× high

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

Balance sheet 31 Mar 2026

Total assets₹9,461 Cr−2%

Net worth₹5,923 Cr+2%

Total borrowings₹1,513 Cr−27%

Cash & bank balances₹294 Cr+76%

Investments₹578 Cr+298%

Inventories₹2,398 Cr−3%

Trade receivables₹1,071 Cr−28%

Trade payables₹552 Cr−1%

Change vs the same date a year earlier.

Shareholding 30 Jun 2026

%	Jun 26	Mar 26	Dec 25	Sept 25	Jun 25	Mar 25	Dec 24	Sept 24	Jun 24	Mar 24	Feb 24	Jan 24
Promoter	50.13	50.13	46.21	46.21	46.21	46.21	46.21	46.21	46.21	46.21	46.21	46.21
FII	12.80	15.73	19.39	19.25	20.27	20.06	19.91	19.73	21.16	19.70	17.49	17.49
DII	0.36	0.23	0.24	0.24	0.20	0.62	0.61	1.98	0.45	0.37	0.46	0.46
of which MF	0.14	0.16	0.18	0.18	0.17	0.59	–	–	–	–	–	–
Retail	27.33	25.14	25.94	25.61	24.57	24.18	23.82	22.77	22.65	23.26	25.15	25.15
Other public	9.38	8.77	8.22	8.69	8.75	8.93	9.45	9.31	9.53	10.46	10.69	10.69

1,79,894 shareholders · NSE shareholding pattern filings.