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 | 48,716 | 51,101 | 44,312 | 39,900 | 40,118 | 44,267 | 34,793 | 33,563 | 33,861 | 37,727 | 31,965 | 30,221 | 31,065 | 33,462 | 28,638 | 27,486 | 28,042 | 28,811 | 24,402 | 22,564 | 19,919 | 24,399 | 20,986 | 18,400 | 13,621 | 19,902 | 19,205 | 18,430 | 18,861 | 20,965 | 18,419 | 16,795 | 16,857 | 17,438 |
| Other income | 305 | 228 | 265 | 345 | 342 | 383 | 369 | 395 | 300 | 427 | 256 | 285 | 296 | 220 | 2,972 | 252 | 168 | 180 | 122 | 253 | 270 | 131 | 330 | 200 | 377 | 273 | 243 | 223 | 231 | 209 | 173 | 301 | 233 | 254 |
| Total expenses | 43,851 | 46,282 | 41,270 | 37,796 | 36,657 | 40,756 | 32,724 | 31,993 | 31,249 | 33,750 | 28,749 | 27,639 | 27,923 | 30,355 | 26,501 | 25,384 | 24,394 | 25,787 | 21,703 | 19,864 | 16,853 | 20,887 | 18,279 | 16,411 | 12,861 | 18,559 | 18,032 | 17,070 | 16,326 | 18,747 | 16,933 | 15,461 | 15,051 | 15,887 |
| EBITDA | 7,772 | 7,783 | 5,949 | 4,872 | 6,088 | 6,164 | 4,299 | 3,646 | 4,460 | 5,769 | 4,893 | 4,225 | 4,685 | 4,653 | 3,617 | 3,531 | 5,065 | 4,467 | 3,986 | 4,029 | 4,466 | 5,011 | 4,146 | 3,460 | 2,237 | 2,970 | 2,725 | 2,958 | 3,986 | 3,577 | 2,786 | 2,553 | 2,979 | 2,714 |
| EBITDA margin | 16.0% | 15.2% | 13.4% | 12.2% | 15.2% | 13.9% | 12.4% | 10.9% | 13.2% | 15.3% | 15.3% | 14.0% | 15.1% | 13.9% | 12.6% | 12.8% | 18.1% | 15.5% | 16.3% | 17.9% | 22.4% | 20.5% | 19.8% | 18.8% | 16.4% | 14.9% | 14.2% | 16.0% | 21.1% | 17.1% | 15.1% | 15.2% | 17.7% | 15.6% |
| Finance costs | 919 | 922 | 933 | 869 | 816 | 821 | 699 | 581 | 481 | 463 | 433 | 398 | 361 | 338 | 341 | 313 | 329 | 314 | 260 | 312 | 410 | 457 | 431 | 453 | 491 | 591 | 550 | 605 | 531 | 499 | 465 | 413 | 406 | 392 |
| Depreciation | 1,988 | 2,042 | 1,975 | 1,899 | 1,810 | 1,831 | 1,532 | 1,496 | 1,368 | 1,329 | 1,244 | 1,245 | 1,183 | 1,207 | 1,139 | 1,116 | 1,089 | 1,128 | 1,026 | 1,017 | 991 | 1,043 | 1,007 | 1,017 | 986 | 1,037 | 1,002 | 993 | 920 | 859 | 835 | 806 | 767 | 771 |
| Profit before tax | 5,157 | 4,962 | 3,107 | 2,449 | 3,765 | 3,828 | 2,438 | 1,882 | 2,944 | 3,835 | 3,473 | 2,866 | 3,438 | 3,328 | 5,108 | 2,266 | 3,816 | 3,136 | 2,821 | 2,954 | 3,336 | 3,580 | 3,038 | 1,854 | 922 | 353 | 1,405 | 1,577 | 2,656 | 2,129 | 1,658 | −641 | 2,038 | 1,491 |
| Tax | 1,337 | 1,276 | 818 | 1,012 | 1,067 | 1,023 | 604 | 867 | 708 | 1,207 | 868 | 838 | 862 | 1,059 | 632 | 847 | 1,110 | −464 | 275 | 1,065 | 1,060 | 1,064 | 977 | 688 | 324 | −1,926 | 404 | 553 | 918 | 809 | 590 | 377 | 680 | 488 |
| Net profit | 3,846 | 3,802 | 2,233 | 1,498 | 2,767 | 2,973 | 1,844 | 1,100 | 2,268 | 2,722 | 2,603 | 2,024 | 2,576 | 2,356 | 4,455 | 1,509 | 2,759 | 4,070 | 2,655 | 2,032 | 2,448 | 2,617 | 2,152 | 1,521 | 621 | 2,305 | 1,040 | 1,473 | 1,786 | 1,532 | 1,144 | −1,300 | 1,400 | 854 |
| Net margin | 7.9% | 7.4% | 5.0% | 3.8% | 6.9% | 6.7% | 5.3% | 3.3% | 6.7% | 7.2% | 8.1% | 6.7% | 8.3% | 7.0% | 15.6% | 5.5% | 9.8% | 14.1% | 10.9% | 9.0% | 12.3% | 10.7% | 10.3% | 8.3% | 4.6% | 11.6% | 5.4% | 8.0% | 9.5% | 7.3% | 6.2% | -7.7% | 8.3% | 4.9% |
| EPS (₹) | 31.64 | 28.87 | 15.28 | 8.16 | 20.91 | 22.22 | 13.47 | 5.86 | 18.25 | 20.69 | 23.08 | 17.73 | 24.01 | 20.85 | 38.33 | 15.37 | 29.44 | 37.02 | 26.09 | 20.21 | 24.85 | 25.87 | 20.66 | 11.14 | 3.60 | 22.94 | 10.36 | 15.26 | 18.75 | 17.26 | 14.57 | -21.99 | 16.98 | 10.95 |
| Net profit YoY | +39.0% | +27.9% | +21.1% | +36.2% | +22.0% | +9.2% | −29.2% | −45.6% | −12.0% | +15.5% | −41.6% | +34.1% | −6.6% | −42.1% | +67.8% | −25.7% | +12.7% | +55.6% | +23.4% | +33.6% | +294.4% | +13.5% | +107.0% | +3.3% | −65.3% | +50.5% | −9.1% | +213.3% | +27.6% | +79.5% | – | – | – | – |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 1,75,431 | 1,48,478 | 1,30,978 | 1,17,627 | 95,701 | 76,398 | 77,625 | 72,971 | 57,338 |
| Other income | 1,180 | 1,459 | 1,264 | 3,612 | 821 | 1,052 | 967 | 801 | 990 |
| Total expenses | 1,62,005 | 1,39,170 | 1,18,062 | 1,06,633 | 84,207 | 67,526 | 71,125 | 65,993 | 51,533 |
| EBITDA | 24,692 | 18,564 | 19,572 | 16,866 | 16,951 | 14,714 | 12,879 | 12,018 | 9,888 |
| EBITDA margin | 14.1% | 12.5% | 14.9% | 14.3% | 17.7% | 19.3% | 16.6% | 16.5% | 17.2% |
| Finance costs | 3,540 | 2,802 | 1,655 | 1,320 | 1,296 | 1,809 | 2,339 | 1,781 | 1,359 |
| Depreciation | 7,726 | 6,454 | 5,001 | 4,552 | 4,161 | 4,033 | 4,041 | 3,260 | 2,724 |
| Profit before tax | 14,283 | 10,528 | 13,611 | 14,518 | 12,247 | 9,582 | 6,085 | 5,204 | 6,362 |
| Tax | 4,172 | 3,069 | 3,774 | 3,649 | 1,936 | 3,022 | −30.7 | 2,457 | 1,947 |
| Net profit | 10,300 | 7,756 | 9,926 | 11,078 | 11,206 | 6,987 | 6,677 | 2,776 | 3,688 |
| Net margin | 5.9% | 5.2% | 7.6% | 9.4% | 11.7% | 9.1% | 8.6% | 3.8% | 6.4% |
| EPS (₹) | 73.21 | 55.57 | 85.29 | 103.98 | 108.16 | 62.89 | 67.42 | 26.96 | 44.22 |
| Net profit YoY | +32.8% | −21.9% | −10.4% | −1.1% | +60.4% | +4.6% | +140.5% | −24.7% | – |
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 | −17,810 | −17,170 | −10,719 | −12,685 | 7,038 |
| Investing cash flow | −17,803 | −23,982 | −23,113 | −13,687 | −1,052 |
| Financing cash flow | 33,523 | 43,643 | 33,908 | 26,469 | −6,733 |
| Capital expenditure | 15,626 | 17,181 | 19,485 | 12,036 | 8,588 |
| Free cash flow (CFO − capex) | −33,436 | −34,351 | −30,204 | −24,721 | −1,550 |
Net profit trend
annual, ₹ croreFY21
₹6,987
FY22
₹11,206+60%
FY23
₹11,078−1%
FY24
₹9,926−10%
FY25
₹7,756−22%
FY26
₹10,300+33%
Result filings
as filed with NSE · PDF and XBRL| Period | Basis | Filed | Documents |
|---|---|---|---|
| Q1 FY27 | Consolidated | 12 Aug 2026 | PDF on NSE XBRL |
| Q1 FY27 | Standalone | 12 Aug 2026 | PDF on NSE XBRL |
| Q4 FY26 | Consolidated · audited | 20 May 2026 | PDF on NSE XBRL |
| Q4 FY26 | Standalone · audited | 20 May 2026 | PDF on NSE XBRL |
| Q3 FY26 | Consolidated | 10 Feb 2026 | PDF on NSE XBRL |
| Q3 FY26 | Standalone | 10 Feb 2026 | PDF on NSE XBRL |
| Q2 FY26 | Consolidated | 5 Nov 2025 | PDF on NSE XBRL |
| Q2 FY26 | Standalone | 5 Nov 2025 | PDF on NSE XBRL |
| Q1 FY26 | Consolidated | 8 Aug 2025 | PDF on NSE XBRL |
| Q1 FY26 | Standalone | 8 Aug 2025 | PDF on NSE XBRL |
Annual reports
NSE archiveKey ratios
P/E (TTM)5Y avg 16.4×19.1×
P/B5Y avg 1.71×2.10×
ROEFY26, on average equity10.3%
Net margin5.9%
Debt / equity2.17×
Revenue CAGR (3Y)14.3%
Profit CAGR (3Y)-2.4%
EPS (TTM)₹167.21
Market cap₹2.17L Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
2.10×
vs 8-point avg 1.71× (+23%)
1.41× low1.71× avg2.10× high
History points are balance-sheet dates (2022 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹5.7L Cr+14%
Net worth₹1.03L Cr+6%
Total borrowings₹2.25L Cr+22%
Cash & bank balances₹2,798 Cr−43%
Investments₹1.04L Cr+13%
Inventories₹15,429 Cr−1%
Trade receivables₹10,970 Cr+20%
Trade payables₹19,435 Cr+26%
Change vs the same date a year earlier.
Revenue mix FY26
Building Material $57.1%result ₹16,364 Cr
Financial Services25.6%result ₹5,293 Cr
Cellulosic Fibres9.7%result ₹1,751 Cr
Chemicals #5.4%result ₹1,406 Cr
Others *2.2%result ₹−6,847 Cr
Segment revenue as reported, before inter-segment eliminations.