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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	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	Q3 FY19	Q2 FY19	Q1 FY19	Q4 FY18
Revenue from operations	1,287	1,088	1,037	991	983	1,105	942	976	913	902	878	886	858	765	706	779	822	701	706	635	571	481	420	419	252	355	422	388	469	439	444	399	379	305
Other income	4.8	8.7	1.7	6.2	3.6	8.4	4	18.3	4.7	8.7	1.5	1.8	1	2.4	5.1	3.9	3.3	1.2	0.9	0.5	1.2	3.5	1.5	0.8	0.1	−1.3	3.1	0.6	1.2	1.2	0.5	1.2	0.5	3.7
Total expenses	1,204	1,020	980	941	934	1,056	892	932	870	861	834	842	819	731	683	755	797	670	680	613	554	474	406	407	250	344	414	380	455	427	434	388	370	304
EBITDA	135	113	101	91.8	92.2	84.7	80.1	71	75	66.2	74.2	71.9	69.8	57.9	48.2	47.5	50.8	52.3	47.4	43.6	39.7	27.7	32.5	33.6	22.7	30.8	30.7	31	35.4	34.1	31.6	31	29.6	20
EBITDA margin	10.5%	10.4%	9.7%	9.3%	9.4%	7.7%	8.5%	7.3%	8.2%	7.3%	8.5%	8.1%	8.1%	7.6%	6.8%	6.1%	6.2%	7.5%	6.7%	6.9%	6.9%	5.8%	7.7%	8.0%	9.0%	8.7%	7.3%	8.0%	7.5%	7.8%	7.1%	7.8%	7.8%	6.6%
Finance costs	30.4	24.7	27.1	26.1	28	21.7	20	17	21.7	15.3	21.1	19.2	21.9	15.3	17	15.4	17.8	13.8	14.1	14.2	15.2	14.1	11.7	14.5	14.4	12.8	15.6	15.9	15.8	15.3	15.3	14.7	15.4	13.2
Depreciation	20.9	20.4	17.2	14.9	14.5	14.3	10.3	10.3	10.1	9.4	8.5	8.5	8.8	8.6	8.3	8	7.7	7.7	7.2	7.1	7	6.9	7	6.9	6.8	7.1	6.6	6.2	6.4	6.5	6.1	6.1	4.9	5.6
Profit before tax	88.3	76.7	58.5	57.1	53.3	57.1	53.8	62.1	47.9	50.3	46.1	46	40.1	36.4	28.1	28	28.6	32.1	27	22.8	18.6	10.3	15.3	12.9	1.7	9.4	11.6	9.5	14.4	13.4	10.6	11.4	9.7	4.8
Tax	21.1	20.6	14.8	14.4	13.2	15.2	12.6	15.6	11.9	13	14.3	11.3	11.5	8.5	9.7	7.6	7.5	7.8	6.9	5.8	5.1	2.1	4.2	3.4	0.4	−2.7	4.8	3.4	5.5	3.7	3.8	2.5	3.8	2.1
Net profit	67.2	56.1	43.7	42.6	40.2	41.9	41.2	46.5	36	37.2	31.8	34.7	28.6	28	18.4	20.4	21.1	24.3	20.2	17	13.5	8.2	11.1	9.5	1.3	12.1	6.7	6.2	8.9	9.7	6.8	8.9	6	2.6
Net margin	5.2%	5.2%	4.2%	4.3%	4.1%	3.8%	4.4%	4.8%	3.9%	4.1%	3.6%	3.9%	3.3%	3.7%	2.6%	2.6%	2.6%	3.5%	2.9%	2.7%	2.4%	1.7%	2.6%	2.3%	0.5%	3.4%	1.6%	1.6%	1.9%	2.2%	1.5%	2.2%	1.6%	0.9%
EPS (₹)	19.13	18.20	12.83	12.43	12.62	13.21	12.12	14.14	11.19	11.81	11.38	12.73	10.49	10.35	7.02	7.82	8.11	9.40	7.80	6.76	5.52	3.50	4.81	4.15	0.55	5.26	2.93	2.68	3.85	4.22	2.96	3.89	2.60	1.24
Net profit YoY	+67.4%	+33.9%	+6.0%	−8.4%	+11.5%	+12.6%	+29.7%	+34.1%	+25.9%	+33.1%	+72.6%	+70.4%	+35.6%	+15.1%	−8.7%	+19.6%	+55.8%	+197.1%	+82.3%	+78.2%	+972.9%	−32.5%	+64.3%	+54.9%	−85.8%	+24.5%	−1.1%	−31.0%	+48.0%	+268.6%	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Revenue from operations	4,100	3,936	3,525	3,072	2,613	1,572	1,634	1,661	1,306
Other income	20.2	35.3	12.9	14.8	3.9	5.9	3.6	3.4	4.3
Total expenses	3,875	3,750	3,355	2,966	2,517	1,538	1,592	1,619	1,283
EBITDA	398	311	282	204	183	116	128	126	98.7
EBITDA margin	9.7%	7.9%	8.0%	6.7%	7.0%	7.4%	7.8%	7.6%	7.6%
Finance costs	106	80.3	77.5	65.5	57.3	54.7	60.2	60.8	56.2
Depreciation	67	44.9	35.3	32.6	29	27.5	26.3	23.6	19.9
Profit before tax	246	221	182	121	101	40.2	44.9	45.2	26.9
Tax	63.1	55.2	50.2	33.3	25.6	10.1	11.1	13.7	10.9
Net profit	183	166	132	87.8	75	30	33.9	31.5	16
Net margin	4.5%	4.2%	3.8%	2.9%	2.9%	1.9%	2.1%	1.9%	1.2%
EPS (₹)	56.07	50.66	46.41	33.31	29.48	13.01	14.72	13.67	7.19
Net profit YoY	+10.2%	+25.2%	+50.6%	+17.1%	+149.6%	−11.3%	+7.7%	+96.8%	–

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	200	158	−45.9	64.9	77.8
Investing cash flow	−333	−473	−186	−78.1	−84.6
Financing cash flow	132	212	337	13.3	6.3
Capital expenditure	348	491	196	78.3	85.3
Free cash flow (CFO − capex)	−147	−333	−242	−13.4	−7.6

Net profit trend

annual, ₹ crore

FY21

₹30

FY22

₹75+150%

FY23

₹87.8+17%

FY24

₹132+51%

FY25

₹166+25%

FY26

₹183+10%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	6 Aug 2026	PDF XBRL
Q1 FY27	Standalone	6 Aug 2026	PDF XBRL
Q4 FY26	Consolidated · audited	26 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	26 May 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	13 Feb 2026	PDF XBRL
Q3 FY26	Standalone	13 Feb 2026	PDF XBRL
Q2 FY26	Consolidated	8 Nov 2025	PDF XBRL
Q2 FY26	Standalone	8 Nov 2025	PDF XBRL
Q1 FY26	Consolidated	22 Jul 2025	PDF XBRL
Q1 FY26	Standalone	23 Jul 2025	PDF XBRL

Annual reports

NSE archive

FY2641.97 MB FY253.43 MB FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 5.8×8.3×

P/B5Y avg 0.87×1.17×

ROEFY26, on average equity13.0%

Net margin4.5%

Debt / equity0.75×

Revenue CAGR (3Y)10.1%

Profit CAGR (3Y)27.6%

EPS (TTM)₹63.07

Market cap₹1,747 Cr

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

P/B vs history

1.17×

vs 8-point avg 0.87× (+34%)

0.59× low0.87× avg1.17× high

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

Balance sheet 31 Mar 2026

Total assets₹3,046 Cr+20%

Net worth₹1,491 Cr+14%

Total borrowings₹1,119 Cr+27%

Cash & bank balances₹1 Cr−49%

Investments₹15 Cr+13%

Inventories₹856 Cr+36%

Trade receivables₹478 Cr−5%

Trade payables₹158 Cr+36%

Change vs the same date a year earlier.

Shareholding 24 Aug 2026

%	Aug 26	Jun 26	Mar 26	Dec 25	Sept 25	Jun 25	May 25	Mar 25	Dec 24	Sept 24	Jun 24	Jun 24
Promoter	54.00	54.00	56.45	56.45	56.45	56.45	56.45	55.78	55.78	55.78	55.78	55.78
FII	1.92	2.48	1.55	1.48	1.97	1.19	1.14	1.64	1.71	2.62	3.94	4.02
DII	6.15	6.50	4.99	4.41	3.22	2.06	2.16	2.06	1.97	1.82	1.81	1.81
of which MF	1.21	1.11	0.97	1.06	0.24	0.00	–	–	–	–	–	–
Retail	30.51	29.81	31.30	31.89	32.03	33.15	32.81	32.94	32.95	31.65	30.86	30.74
Other public	7.42	7.21	5.71	5.77	6.33	7.15	7.44	7.58	7.59	8.13	7.61	7.65

44,709 shareholders · NSE shareholding pattern filings.