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Quarterly results

consolidated · as filed with NSE · Q1 FY27 back to Q4 FY17

₹ 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	Q4 FY19	Q3 FY19	Q2 FY19	Q1 FY19	Q4 FY17
Revenue from operations	377	314	184	138	137	120	126	146	142	153	138	145	132	138	109	134	136	121	105	78.5	63.3	75	58.4	54.7	30.4	43.6	52.1	51	50.3	46	43.2	42.9	40.2
Other income	10.1	9.5	6.7	7.7	9.1	7.5	5	6.9	4.9	4.1	4.9	3.8	3.6	2.1	1.8	2.5	0.9	0.2	1.2	1.3	2.8	2.9	5.5	3.8	5.3	0.4	3.1	−0.7	1.4	0.6	−0.3	−0.5	−1.9
Total expenses	322	275	152	110	115	101	94.4	112	109	117	99.8	109	102	106	82	110	111	101	80.9	64.4	54.2	62.8	45.3	45.3	26.7	36.5	44.5	41.4	42.1	38	35.9	33.3	32.5
EBITDA	59.1	43.7	34.8	31	25.2	21.3	34.3	36.4	35.3	38.3	40.4	38.2	31.5	32.7	28.6	25.1	26.2	21.5	25.1	14.8	9.8	12.8	13.6	10	4.1	7.6	8	10.1	8.6	8.4	7.9	10	8.1
EBITDA margin	15.7%	13.9%	19.0%	22.5%	18.4%	17.8%	27.2%	25.0%	24.8%	25.0%	29.1%	26.3%	23.8%	23.8%	26.1%	18.7%	19.3%	17.7%	23.9%	18.8%	15.5%	17.1%	23.3%	18.2%	13.5%	17.4%	15.4%	19.8%	17.2%	18.3%	18.3%	23.4%	20.1%
Finance costs	0.1	0.6	0.2	0.3	0.2	0.4	0.2	0.2	0.2	0.6	0.3	0.3	0.2	0.3	0.2	0.2	0.1	0.2	0.3	0.2	0.2	0.2	0.2	0.1	0.1	0.2	0.2	0.2	0.3	0.2	0.3	0.2	0.2
Depreciation	4.4	4.4	3.3	3	2.7	2	2.6	2.4	2.2	1.9	1.4	1.4	1.3	1.2	1.1	1	1	0.9	0.6	0.5	0.5	0.4	0.4	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.2	0.2
Profit before tax	64.7	48.1	38	35.4	31.5	26.4	36.5	40.7	37.6	40	43.6	40.4	33.7	33.4	29	26.3	26.1	20.7	25.4	15.4	11.9	15.1	18.5	13.3	9	−5.7	10.7	9	9.3	8.5	7.1	8.7	5.8
Tax	16.5	4.3	7.9	9.3	6.5	6.3	8.7	8.6	8.5	9.5	10.6	8.9	7.5	7.4	6.6	5.5	5.8	3.7	6.3	4.2	2.2	3.2	5.1	2.3	0.8	0.4	2.6	2.4	2.8	2.2	2.1	2.2	3.1
Net profit	48.2	43.8	30.1	26.1	25	20.1	27.8	32.1	29.2	30.5	32.9	31.5	26.1	26	22.5	20.8	20.3	17	19.1	11.1	9.7	12	13.4	11	8.2	−6.1	8.1	6.6	6.5	6.3	5	6.5	2.7
Net margin	12.8%	14.0%	16.4%	18.9%	18.3%	16.8%	22.1%	22.0%	20.6%	19.9%	23.8%	21.7%	19.8%	18.9%	20.6%	15.5%	15.0%	14.0%	18.2%	14.2%	15.3%	15.9%	23.0%	20.1%	27.0%	-14.1%	15.6%	12.9%	13.0%	13.7%	11.6%	15.1%	6.8%
EPS (₹)	0.41	0.38	0.26	2.27	2.18	1.76	2.43	2.80	2.56	2.72	2.95	2.83	2.32	2.33	2.00	1.86	1.79	1.49	1.67	0.97	0.86	1.01	1.18	0.95	0.70	-0.57	0.73	0.59	0.55	0.51	0.45	0.55	0.25
Net profit YoY	+92.6%	+117.5%	+8.2%	−18.7%	−14.2%	−33.9%	−15.5%	+1.8%	+11.7%	+17.2%	+46.5%	+51.6%	+28.7%	+53.0%	+17.8%	+86.8%	+109.5%	+42.2%	+42.4%	+1.0%	+18.2%	+294.9%	+65.5%	+66.9%	–	−194.2%	+28.1%	+31.2%	–	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY17
Revenue from operations	772	533	569	517	368	219	196	182	143
Other income	33.1	24.3	16.5	7.3	5.5	17.5	2.2	1.5	5.2
Total expenses	652	416	428	410	300	180	164	150	114
EBITDA	135	127	148	113	71.2	40.5	34.2	34.7	30
EBITDA margin	17.4%	23.9%	26.1%	21.8%	19.3%	18.6%	17.4%	19.0%	21.0%
Finance costs	1.4	1.1	1.3	0.8	0.9	0.7	0.6	1	0.6
Depreciation	13.4	9.2	6	4.3	2.5	1.5	1.2	1	0.7
Profit before tax	153	141	158	115	73.3	55.9	22	33.6	33.9
Tax	28	32	36.5	25.2	16.4	11.3	7.7	9.3	10
Net profit	125	109	121	89.6	56.9	44.6	14.3	24.3	24
Net margin	16.2%	20.5%	21.3%	17.3%	15.4%	20.4%	7.3%	13.3%	16.8%
EPS (₹)	1.09	9.53	10.82	7.97	4.97	3.85	1.17	2.02	2.15
Net profit YoY	+14.5%	−9.8%	+35.1%	+57.4%	+27.7%	+211.4%	−41.2%	–	–

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	−23.8	69.3	97.4	108	13.3
Investing cash flow	105	−273	−46.8	−103	−0.7
Financing cash flow	−62.5	176	−23.9	−6.4	−5.7
Capital expenditure	24.6	67.9	47.9	19.5	22.6
Free cash flow (CFO − capex)	−48.4	1.4	49.5	88.7	−9.2

Net profit trend

annual, ₹ crore

FY21

₹44.6

FY22

₹56.9+28%

FY23

₹89.6+57%

FY24

₹121+35%

FY25

₹109−10%

FY26

₹125+14%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	23 Jul 2026	PDF on NSE XBRL
Q1 FY27	Standalone	23 Jul 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	15 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	15 May 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	13 Feb 2026	PDF on NSE XBRL
Q3 FY26	Standalone	13 Feb 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	14 Nov 2025	PDF on NSE XBRL
Q2 FY26	Standalone	14 Nov 2025	PDF on NSE XBRL
Q1 FY26	Consolidated	12 Aug 2025	PDF on NSE XBRL
Q1 FY26	Standalone	12 Aug 2025	PDF on NSE XBRL

Annual reports

NSE archive

FY269.73 MB FY259.62 MB FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 27.0×47.5×

P/B5Y avg 7.14×7.98×

ROEFY26, on average equity15.5%

Net margin16.2%

Debt / equity0.01×

Revenue CAGR (3Y)14.3%

Profit CAGR (3Y)11.8%

EPS (TTM)₹1.27

Market cap₹7,043 Cr

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

P/B vs history

7.98×

vs 8-point avg 7.14× (+12%)

2.54× low7.14× avg13.67× high

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

Balance sheet 31 Mar 2026

Total assets₹1,159 Cr+42%

Net worth₹882 Cr+21%

Total borrowings₹8 Cr+3670%

Cash & bank balances₹37 Cr+27%

Investments₹317 Cr−4%

Inventories₹155 Cr+140%

Trade receivables₹290 Cr+151%

Trade payables₹161 Cr+184%

Change vs the same date a year earlier.

Shareholding 30 Jun 2026

%	Jun 26	Mar 26	Jan 26	Dec 25	Nov 25	Nov 25	Sept 25	Jun 25	Mar 25	Dec 24	Sept 24	Jul 24
Promoter	62.30	62.30	62.30	62.57	62.57	62.88	62.88	62.88	62.88	62.86	62.88	62.88
FII	3.16	2.92	2.94	2.52	2.52	2.16	2.34	2.51	2.84	3.36	3.28	3.14
DII	1.36	1.27	1.27	1.28	1.28	1.55	1.63	3.17	3.71	3.61	3.63	3.59
of which MF	1.27	1.27	1.27	1.28	1.28	1.55	1.63	3.08	–	–	–	–
Retail	29.48	29.75	29.85	29.98	30.03	29.88	29.66	27.97	27.05	26.94	27.08	27.12
Other public	3.70	3.76	3.64	3.65	3.60	3.53	3.49	3.47	3.52	3.23	3.13	3.27

1,80,711 shareholders · NSE shareholding pattern filings.