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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	Q3 FY23	Q2 FY23	Q1 FY23	Q3 FY22	Q2 FY22	Q1 FY22	Q4 FY21	Q3 FY21	Q2 FY21	Q1 FY21	Q4 FY20	Q3 FY20	Q2 FY20	Q1 FY20	Q4 FY19	Q4 FY18
Revenue from operations	1,146	1,205	1,074	1,013	1,128	1,072	1,118	943	1,160	1,177	1,063	950	1,036	1,006	931	1,021	455	391	345	355	307	218	127	207	224	186	248	0	0
Other income	18.3	24.5	15	13.2	6.8	11.6	0.8	2.1	1.2	3.4	1.2	2.1	1.3	0.7	4.4	0.8	2.9	4.2	2.5	0.1	1.2	0.9	0	0.2	0.2	0.2	0.4	0	0
Total expenses	999	1,068	966	923	918	925	954	880	982	1,035	993	898	996	954	885	977	431	389	317	311	272	211	127	198	223	194	238	0	0
EBITDA	185	184	154	132	247	183	199	97.6	215	184	107	86.4	70.7	85.6	78.3	72.4	32.4	11.5	36.8	51.4	40.8	14.1	4.7	13.9	7.2	−3.4	14.5	0	0
EBITDA margin	16.2%	15.3%	14.3%	13.0%	21.9%	17.1%	17.8%	10.4%	18.5%	15.6%	10.0%	9.1%	6.8%	8.5%	8.4%	7.1%	7.1%	2.9%	10.7%	14.5%	13.3%	6.5%	3.7%	6.7%	3.2%	-1.8%	5.9%	–	–
Finance costs	8.5	13.7	13.2	9.1	5.6	5.4	5.3	4.8	6.4	7.6	7.9	6.5	6.2	7.7	7.3	3.7	1.6	2.2	2.3	2.1	2.7	3.9	1	0.6	2.5	2	1.2	0	0
Depreciation	30.1	33.6	32.4	32.7	31.7	30.8	29.4	29.8	30	34.1	29.3	27.6	24.6	25.4	24.9	24.8	6.5	6.5	6.6	5.3	3.5	3.5	3.3	3.5	3.5	3.5	3.6	0	0
Profit before tax	165	162	123	103	216	159	165	65.1	179	145	70.5	54.4	41.1	53.2	50.5	44.6	27.2	7	30.4	44.2	35.8	7.6	0.4	10	1.5	−8.8	10.2	0	0
Tax	41.1	38.8	22.6	15.8	42.6	42.2	51.5	16.2	57.5	49.9	18.5	7.1	10.4	32.2	22.9	20.1	10.2	2.2	10.6	15.2	12.1	3.4	0.5	11.5	1.1	−10.6	3.4	0	0
Net profit	124	123	100	88.9	174	116	114	48.9	122	95.4	52	47.3	30.7	20.9	27.5	24.5	21.9	6.9	26.6	37.9	32.4	6.9	4.1	7.4	1	0.8	13.2	0	0
Net margin	10.8%	10.2%	9.4%	8.8%	15.4%	10.8%	10.2%	5.2%	10.5%	8.1%	4.9%	5.0%	3.0%	2.1%	3.0%	2.4%	4.8%	1.8%	7.7%	10.7%	10.6%	3.2%	3.2%	3.6%	0.5%	0.4%	5.3%	–	–
EPS (₹)	5.13	5.09	4.16	3.62	7.20	4.82	4.71	2.03	5.05	3.95	2.15	1.96	1.27	0.87	1.14	1.02	2.70	0.84	3.27	4.67	3.99	0.85	0.50	0.91	0.13	0.10	1.62	0.00	0.00
Net profit YoY	−28.8%	+5.6%	−11.7%	+81.9%	+42.6%	+21.9%	+118.7%	+3.5%	+296.7%	–	+148.6%	+71.6%	+25.2%	−4.6%	+301.1%	−7.7%	−32.4%	−0.7%	+548.3%	+411.7%	+2993.6%	+776.8%	−68.8%	–	–	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY21	FY20	FY19	FY18
Revenue from operations	4,419	4,293	4,227	1,007	865	1,064	846
Other income	59.6	15.6	6.9	2.3	1.1	5.4	4.8
Total expenses	3,874	3,740	3,923	921	853	959	781
EBITDA	716	694	448	111	32.3	125	86.1
EBITDA margin	16.2%	16.2%	10.6%	11.0%	3.7%	11.7%	10.2%
Finance costs	41.7	22	28.2	9.7	6.4	6	6.6
Depreciation	130	120	116	15.6	14.2	14.1	15
Profit before tax	604	568	311	88	12.9	110	69.3
Tax	120	167	86	31.2	5.4	38.4	20
Net profit	484	401	225	81.4	22.4	104	64.6
Net margin	11.0%	9.3%	5.3%	8.1%	2.6%	9.8%	7.6%
EPS (₹)	20.07	16.61	9.34	10.01	2.76	12.83	7.94
Net profit YoY	+20.8%	+77.8%	–	+263.3%	−78.5%	+61.6%	–

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
Operating cash flow	602	579	344
Investing cash flow	−627	−460	−248
Financing cash flow	121	−114	−102
Capital expenditure	348	242	199
Free cash flow (CFO − capex)	254	337	145

Net profit trend

annual, ₹ crore

FY19

₹104

FY20

₹22.4−79%

FY21

₹81.4+263%

FY24

₹225+177%

FY25

₹401+78%

FY26

₹484+21%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	27 Jul 2026	PDF XBRL
Q1 FY27	Standalone	27 Jul 2026	PDF XBRL
Q4 FY26	Consolidated · audited	5 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	5 May 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	4 Feb 2026	PDF on NSE XBRL
Q3 FY26	Standalone	4 Feb 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	3 Nov 2025	PDF on NSE XBRL
Q2 FY26	Standalone	3 Nov 2025	PDF XBRL
Q1 FY26	Consolidated	29 Jul 2025	PDF on NSE XBRL
Q1 FY26	Standalone	29 Jul 2025	PDF XBRL

Annual reports

NSE archive

FY266.94 MB FY258.00 MB FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)30.2×

P/B3.97×

ROEFY26, on average equity15.7%

Net margin11.0%

Debt / equity0.17×

Revenue CAGR (3Y)63.7%

Profit CAGR (3Y)81.2%

EPS (TTM)₹18.06

Market cap₹13,152 Cr

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

Balance sheet 31 Mar 2026

Total assets₹4,270 Cr+20%

Net worth₹3,316 Cr+17%

Total borrowings₹548 Cr+45%

Cash & bank balances₹102 Cr+1809%

Investments₹25 Cr−37%

Inventories₹551 Cr+26%

Trade receivables₹178 Cr+97%

Trade payables₹172 Cr+88%

Change vs the same date a year earlier.

Revenue mix FY21

Steel87.6%result ₹61.2 Cr

Power12.2%result ₹34.2 Cr

Un-allocated0.2%result ₹0 Cr

Segment revenue as reported, before inter-segment eliminations.

Shareholding 30 Jun 2026

%	Jun 26	Mar 26	Dec 25	Sept 25	Jun 25	Mar 25	Dec 24	Sept 24	Jun 24	Mar 24	Dec 23	Sept 23
Promoter	70.03	70.00	69.83	68.93	68.93	68.93	68.93	68.93	68.93	68.93	68.94	68.94
FII	0.02	0.09	0.15	0.19	0.06	0.04	0.07	0.09	0.16	0.02	0.01	0.00
DII	0.08	0.08	0.05	0.06	–	0.00	0.00	0.00	0.00	0.00	0.00	0.00
of which MF	0.08	0.08	0.05	0.06	–	–	–	–	–	–	–	–
Retail	9.96	9.83	10.06	10.95	11.04	11.10	11.33	11.50	11.34	11.86	12.10	11.32
Other public	19.91	20.00	19.91	19.87	19.97	19.93	19.67	19.48	19.57	19.19	18.95	19.74

29,986 shareholders · NSE shareholding pattern filings.