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Quarterly results

standalone · 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	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	Q3 FY19	Q2 FY19	Q1 FY19	Q4 FY17
Revenue from operations	1,274	1,111	1,072	1,066	985	931	924	924	864	859	814	864	806	737	711	803	684	606	590	454	581	536	460	123	425	455	473	517	510	510	542	515	497
Other income	18.7	10.4	23.5	9.2	6.9	6.7	9.4	7.4	7.4	7.9	4.5	4.6	4.6	6.5	1.8	2.9	10.8	6.5	4.4	2.7	6.2	6.2	4.2	2.5	3.2	2.6	2.2	1.7	2.7	2.6	2.1	1.9	2.5
Total expenses	1,193	1,035	1,001	994	918	863	863	861	802	797	759	806	753	698	674	757	657	576	558	440	546	510	435	150	405	434	453	487	487	478	501	477	462
EBITDA	107	96.6	92.4	92.3	87.5	85.7	78.4	79.1	78	77.6	70.2	73.8	69	52.4	51.4	59.1	37.7	42	43	25	49.3	39.2	36.3	−17.1	33.1	32.2	31.3	41.2	34.3	43	51.5	49	46.4
EBITDA margin	8.4%	8.7%	8.6%	8.7%	8.9%	9.2%	8.5%	8.6%	9.0%	9.0%	8.6%	8.5%	8.6%	7.1%	7.2%	7.4%	5.5%	6.9%	7.3%	5.5%	8.5%	7.3%	7.9%	-13.9%	7.8%	7.1%	6.6%	8.0%	6.7%	8.4%	9.5%	9.5%	9.3%
Finance costs	2.9	1.6	2.1	1.2	1.6	1.1	1.4	0.7	0.9	1.2	1	1.2	2.2	0.8	1.3	1.1	0.2	0.7	1.5	2	3.7	0.9	1.3	0.7	1.1	0.8	0.9	0.8	0.8	0.6	0.8	0.8	0.7
Depreciation	23.1	19.4	19.5	19	19.1	16.5	15.6	15.8	15.3	14.3	14.4	14.1	13.7	13	12.7	11.8	10.7	10.9	9.9	9.9	11.2	11.8	10.5	8.9	12.8	10.1	10.3	10.5	10.5	10	10	10.6	10.7
Profit before tax	99.8	85.7	81.3	81.3	73.7	74.8	70.8	70	69.1	70	59.3	63	57.7	45	39.2	49.2	37.7	36.9	36.1	15.8	40.7	32.7	28.7	−24.2	22.3	23.9	22.3	31.8	25.7	35	42.8	39.5	37.4
Tax	23.9	24.4	15.7	20.6	18	20.8	16.8	17.3	17.9	17.2	16.4	16.1	15.2	11.2	10.1	12.7	10.8	11.2	11.2	3.8	13	8.1	−1.9	−0.4	−4.3	6.3	3.8	9.7	8.4	13	13.8	12.8	11.7
Net profit	76	61.3	65.6	60.7	55.7	54	54	52.7	51.2	52.7	43	47	42.5	33.8	29.1	36.6	26.9	25.7	24.9	12	27.7	24.6	30.6	−23.8	26.6	17.6	18.5	22.1	17.3	22	28.9	26.7	25.7
Net margin	6.0%	5.5%	6.1%	5.7%	5.7%	5.8%	5.8%	5.7%	5.9%	6.1%	5.3%	5.4%	5.3%	4.6%	4.1%	4.6%	3.9%	4.2%	4.2%	2.6%	4.8%	4.6%	6.7%	-19.4%	6.3%	3.9%	3.9%	4.3%	3.4%	4.3%	5.3%	5.2%	5.2%
EPS (₹)	4.29	4.26	4.57	4.22	0.00	3.76	3.76	3.67	3.56	3.67	2.99	3.27	2.96	2.35	2.03	2.55	1.87	1.79	1.73	0.84	1.93	1.71	2.13	-1.66	1.85	1.22	1.29	1.54	1.20	1.53	2.02	1.86	1.79
Net profit YoY	+36.5%	+13.3%	+21.6%	+15.1%	+8.8%	+2.5%	+25.6%	+12.2%	+20.4%	+56.1%	+47.5%	+28.4%	–	+25.4%	+13.4%	+46.7%	−2.8%	+4.4%	−18.6%	+150.5%	+4.1%	+40.1%	+65.5%	−207.7%	+53.7%	−20.4%	−36.1%	−17.4%	–	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY17
Revenue from operations	4,233	3,643	3,343	2,972	2,332	1,700	1,870	2,076	429
Other income	50	29.9	22.1	17.4	26.2	19.2	9.7	9.2	2
Total expenses	3,948	3,388	3,115	2,811	2,232	1,641	1,779	1,943	402
EBITDA	369	322	290	214	146	108	138	178	37.5
EBITDA margin	8.7%	8.8%	8.7%	7.2%	6.3%	6.3%	7.4%	8.6%	8.7%
Finance costs	6.5	4.1	5.4	4.6	4.3	6.6	3.6	2.9	1.8
Depreciation	77	63.3	56.6	48.6	41.4	42.4	43.6	41.1	9
Profit before tax	322	285	250	178	126	77.9	100	143	28.7
Tax	78.7	72.9	64.9	45.6	36.9	23.5	15.6	48.1	6.1
Net profit	243	212	185	132	89.5	54.5	84.7	95	22.6
Net margin	5.7%	5.8%	5.5%	4.5%	3.8%	3.2%	4.5%	4.6%	5.3%
EPS (₹)	16.93	14.75	12.89	9.21	6.23	3.79	5.90	6.61	1.57
Net profit YoY	+14.8%	+14.4%	+39.9%	+47.9%	+64.4%	−35.7%	−10.8%	–	–

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	267	146	189	136	96.5
Investing cash flow	−141	−101	−120	−104	−44.2
Financing cash flow	−82.6	−66.6	−52.3	−33.7	−24.1
Capital expenditure	125	115	76.9	75.9	0
Free cash flow (CFO − capex)	142	31.9	112	60.5	96.5

Net profit trend

annual, ₹ crore

FY21

₹54.5

FY22

₹89.5+64%

FY23

₹132+48%

FY24

₹185+40%

FY25

₹212+14%

FY26

₹243+15%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	21 Jul 2026	PDF on NSE XBRL
Q1 FY27	Standalone	21 Jul 2026	PDF on NSE XBRL
Q4 FY26	Consolidated	27 May 2026	PDF on NSE XBRL
Q4 FY26	Consolidated	–	PDF on NSE XBRL
Q4 FY26	Standalone	27 May 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	3 Feb 2026	PDF on NSE XBRL
Q3 FY26	Standalone	3 Feb 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	12 Nov 2025	PDF on NSE XBRL
Q2 FY26	Standalone	12 Nov 2025	PDF on NSE XBRL
Q1 FY26	Consolidated	29 Jul 2025	PDF on NSE XBRL

Annual reports

NSE archive

FY266.66 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 32.2×75.6×

P/B5Y avg 6.44×14.94×

ROEFY26, on average equity19.5%

Net margin5.7%

Debt / equity0.00×

Revenue CAGR (3Y)12.5%

Profit CAGR (3Y)22.5%

EPS (TTM)₹18.35

Market cap₹19,919 Cr

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

P/B vs history

14.94×

vs 8-point avg 6.44× (+132%)

2.25× low6.44× avg14.94× high

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

Balance sheet 31 Mar 2026

Total assets₹2,108 Cr+18%

Net worth₹1,333 Cr+15%

Total borrowings₹0 Cr

Cash & bank balances₹80 Cr+123%

Investments₹174 Cr+157%

Inventories₹312 Cr+13%

Trade receivables₹633 Cr+20%

Trade payables₹615 Cr+20%

Change vs the same date a year earlier.

Shareholding 11 Sept 2026

%	Sept 26	Jun 26	Jun 26	Mar 26	Dec 25	Sept 25	Jun 25	Mar 25	Dec 24	Sept 24	Jun 24	Mar 24
Promoter	66.29	63.55	63.55	55.03	55.00	55.00	55.00	55.00	55.00	55.00	55.00	55.00
FII	5.99	6.36	6.51	6.58	6.49	6.49	5.98	5.23	5.33	5.51	4.92	4.44
DII	11.91	12.92	12.79	16.28	16.21	15.74	15.02	14.68	13.46	12.89	12.12	12.00
of which MF	11.07	12.03	12.02	15.48	15.45	15.05	14.47	–	–	–	–	–
Retail	12.85	14.08	14.12	18.39	18.57	18.91	19.86	20.97	21.77	22.06	23.33	23.94
Other public	2.96	3.09	3.03	3.72	3.73	3.86	4.14	4.12	4.44	4.54	4.63	4.62

1,36,534 shareholders · NSE shareholding pattern filings.