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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	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	Q4 FY18
Revenue from operations	280	95.1	91.3	174	151	251	257	237	214	277	181	163	270	179	66.9	328	155	76.1	73.3	78.9	98.4	58.2	14.4	0.6	34.4	45.6	77.3	118	189	130
Other income	0.3	26.7	0.2	0.1	0.2	7.7	7.1	12.5	6.5	3.3	1.9	0.7	1	3.7	0.5	0.1	0.2	−0	0.6	0.4	0.4	9.5	0.2	0.3	1	0.4	0.2	0.7	−2.4	19.1
Total expenses	175	26.1	18.9	29	25.4	37.6	48.8	37.4	67.9	131	47.7	44.4	56.4	80.6	25.6	252	110	51.3	54.1	71.7	89.9	102	46.5	57.5	61.7	79.6	108	160	221	122
EBITDA	110	71.6	75.1	148	128	217	211	203	149	149	137	121	216	101	47	78.7	52.2	32.3	29.2	20.6	25.3	−24.3	−9.2	−40	−9.7	−9.7	−10.6	−22.6	−8.7	35.8
EBITDA margin	39.2%	75.3%	82.3%	84.9%	84.8%	86.2%	82.1%	85.4%	69.6%	53.9%	75.3%	74.3%	79.8%	56.4%	70.3%	24.0%	33.6%	42.4%	39.9%	26.1%	25.8%	-41.8%	-64.2%	-6643.4%	-28.2%	-21.4%	-13.8%	-19.2%	-4.6%	27.5%
Finance costs	3.9	1	1	1	1	0.9	0.9	0.9	1	0.9	1	0.9	1	1.6	5.1	2.4	6.6	7	9.7	13	16.4	19.3	22.5	16.5	17.1	23.8	19.8	19.2	21.9	26.8
Depreciation	1.3	1.6	1.7	1.8	1.5	1.9	1.9	1.8	1.8	2	2	1.7	0.9	0.8	0.7	0.6	0.7	0.5	0.4	0.4	0.5	0.5	0.4	0.4	0.5	0.5	0.5	0.5	0.6	0.7
Profit before tax	105	95.7	72.6	145	126	221	215	212	153	149	136	120	215	102	41.8	75.8	45.1	24.7	19.8	7.6	8.8	−34.6	−31.9	−56.6	−26.3	−33.6	−30.7	−41.7	−33.5	27.5
Tax	62.9	34.3	18.9	37.2	32.5	56.6	54.4	53.8	38.9	36.7	35	33.6	53.7	63	11.5	56.5	20	−0.1	4.6	2.2	9.4	0.5	−8	−10.8	5.1	−6.5	−6.3	−5.1	−16.3	15.4
Net profit	42	61.4	53.7	108	93.1	165	161	158	114	113	101	86	161	39.4	30.3	19.3	25.2	24.8	15.2	5.4	−0.5	−35.1	−23.8	−45.8	−31.4	−27.2	−24.5	−36.5	−17.2	12.1
Net margin	15.0%	64.6%	58.9%	62.0%	61.7%	65.6%	62.6%	66.8%	53.2%	40.8%	55.4%	52.7%	59.7%	22.0%	45.4%	5.9%	16.2%	32.6%	20.8%	6.8%	-0.5%	-60.3%	-165.7%	-7611.8%	-91.3%	-59.6%	-31.7%	-31.1%	-9.1%	9.3%
EPS (₹)	5.03	7.36	6.44	12.96	11.16	19.78	19.29	19.01	13.65	13.53	12.06	10.31	19.35	4.73	3.64	2.31	4.45	4.79	2.95	1.05	-0.11	-7.13	-4.84	-9.30	-6.39	-5.52	-4.97	-7.42	-3.50	2.46
Net profit YoY	−54.9%	−62.8%	−66.6%	−31.8%	−18.2%	+46.2%	+60.0%	+84.3%	−29.4%	+186.1%	+231.6%	+345.7%	–	+56.7%	+22.4%	+26.6%	+4849.3%	+170.6%	+163.9%	+111.8%	+98.3%	−29.1%	+2.6%	−25.3%	−82.8%	–	–	–	−242.4%	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Revenue from operations	511	960	892	616	384	172	275	261	476
Other income	27.1	33.7	6.9	4.5	1.3	10.5	2.3	6.1	32.2
Total expenses	99.3	192	279	381	288	296	410	284	408
EBITDA	423	779	623	252	134	−48.2	−52.7	70.9	171
EBITDA margin	82.6%	81.2%	69.9%	40.9%	35.0%	-28.1%	-19.2%	27.1%	35.9%
Finance costs	4	3.8	3.7	13.5	36.3	74.8	79.9	91.7	101
Depreciation	6.5	7.4	6.6	2.7	2	1.7	2.1	2.3	2.6
Profit before tax	439	802	620	240	97.2	−114	−132	−17	100
Tax	123	204	159	138	26.7	−9	−12.7	−43.6	49.2
Net profit	316	598	461	102	70.6	−105	−120	26.5	50.8
Net margin	61.8%	62.3%	51.6%	16.6%	18.4%	-61.3%	-43.5%	10.2%	10.7%
EPS (₹)	37.93	71.72	55.25	12.25	12.47	-21.38	-24.30	5.40	10.36
Net profit YoY	−47.1%	+29.8%	+351.0%	+44.8%	+167.0%	+12.0%	−550.6%	−47.7%	–

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	213	410	638	30.7	41
Investing cash flow	−543	−389	−489	278	39.4
Financing cash flow	232	−94.2	−244	1.4	−85.2
Capital expenditure	3.6	5.3	155	28	5
Free cash flow (CFO − capex)	209	405	483	2.7	36

Net profit trend

annual, ₹ crore

FY21

₹−105

FY22

₹70.6+167%

FY23

₹102+45%

FY24

₹461+351%

FY25

₹598+30%

FY26

₹316−47%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	24 Jul 2026	PDF on NSE XBRL
Q1 FY27	Standalone	24 Jul 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	29 May 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	–	PDF on NSE XBRL
Q4 FY26	Standalone · audited	29 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	–	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	6 Nov 2025	PDF on NSE XBRL
Q2 FY26	Standalone	6 Nov 2025	PDF on NSE XBRL

Annual reports

NSE archive

FY2617.38 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 15.9×23.1×

P/B5Y avg 3.12×2.63×

ROEFY26, on average equity14.4%

Net margin61.8%

Debt / equity0.13×

Revenue CAGR (3Y)-6.0%

Profit CAGR (3Y)45.7%

EPS (TTM)₹31.80

Market cap₹6,127 Cr

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

P/B vs history

2.63×

vs 8-point avg 3.12× (−16%)

1.81× low3.12× avg4.29× high

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

Balance sheet 31 Mar 2026

Total assets₹2,826 Cr+21%

Net worth₹2,331 Cr+13%

Total borrowings₹305 Cr+1012%

Cash & bank balances₹7 Cr−94%

Investments₹0 Cr

Inventories₹497 Cr+11%

Trade receivables₹292 Cr−15%

Trade payables₹39 Cr−8%

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	Dec 23	Sept 23
Promoter	73.06	73.06	73.06	73.06	73.06	73.06	73.06	73.06	73.06	73.06	73.06	73.06
FII	0.64	0.70	0.57	0.43	0.47	0.95	0.75	0.97	1.08	0.89	0.87	0.92
DII	0.34	0.32	0.42	0.45	0.54	0.14	0.33	0.06	0.05	0.04	0.07	0.06
of which MF	0.00	0.00	0.09	0.09	0.10	–	–	–	–	–	–	–
Retail	12.36	12.37	12.53	12.87	12.95	12.94	20.21	19.59	18.64	18.79	18.49	18.54
Other public	13.60	13.55	13.42	13.19	12.98	12.91	5.65	6.32	7.17	7.22	7.51	7.42

33,191 shareholders · NSE shareholding pattern filings.