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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	Q3 FY21	Q2 FY21	Q1 FY21	Q4 FY20	Q3 FY20	Q2 FY20	Q1 FY20	Q4 FY19	Q4 FY18
Revenue from operations	725	776	673	689	601	649	614	640	584	600	621	608	476	469	428	495	454	449	421	432	261	340	296	133	345	346	380	349	0	0
Other income	1.8	2.6	1	1.8	13.2	6.1	2.7	2	5.7	3.8	8.6	3.7	1.4	9.3	3.1	1.4	1.6	3.1	2.7	2	2.1	1.6	1.1	0.2	1.3	0.2	0.1	0.4	0	0
Total expenses	672	713	641	661	573	609	581	612	551	566	602	590	473	440	411	462	426	413	387	393	257	308	273	146	327	317	347	320	0	0
EBITDA	78.3	93.2	58.9	56.8	61.6	68.1	54	57.6	57.9	57.7	56.8	51.3	29.8	47.6	32.6	48.9	40.1	44.5	42.8	49.7	13.2	41.7	32.3	−2.8	29.9	39.7	44.9	41.1	0	0
EBITDA margin	10.8%	12.0%	8.7%	8.2%	10.3%	10.5%	8.8%	9.0%	9.9%	9.6%	9.1%	8.4%	6.3%	10.1%	7.6%	9.9%	8.8%	9.9%	10.2%	11.5%	5.1%	12.3%	10.9%	-2.1%	8.7%	11.5%	11.8%	11.8%	–	–
Finance costs	7.5	13.4	9.8	13.5	18.5	13.1	5.1	14.5	10.4	9	20.4	17.8	13	7.6	6.2	7.3	5.1	2.5	2.6	3.5	3.4	3.6	3.8	5.5	5.5	4.9	5.4	5	0	0
Depreciation	17.4	16.8	16.6	15.8	15.4	15	15.1	15.1	15	14.5	17.2	16.2	13.3	10.3	9.6	8.9	7.6	6.7	6.5	6.4	6.1	5.9	5.7	5.1	6.6	6.4	6.4	6.3	0	0
Profit before tax	55.2	50.5	29.7	29.2	45.3	46.1	36.5	30.1	38.3	42.6	36.7	21	4.9	39	29.4	34.1	28.9	38.4	36.4	41.8	5.8	33.7	24	−13.3	−30.9	28.7	33.2	30.2	0	0
Tax	11.8	12.8	7.6	7.3	7.7	7.9	8.8	8.1	0.5	9.4	9.6	7	3.8	11.3	−8.8	9.1	7.6	9.5	9.2	10	1.6	8.7	4.5	−3.2	−8.8	7.3	6.4	8.5	0	0
Net profit	37.6	31	14.3	16	28.5	16.6	24.4	17.6	33.2	28.4	26.9	13.9	0.8	11.1	36	23.6	20.7	29	29.8	31.9	4	25	18.6	−11.3	−21.5	21.3	26.4	21	0	0
Net margin	5.2%	4.0%	2.1%	2.3%	4.7%	2.6%	4.0%	2.7%	5.7%	4.7%	4.3%	2.3%	0.2%	2.4%	8.4%	4.8%	4.6%	6.5%	7.1%	7.4%	1.5%	7.3%	6.3%	-8.5%	-6.2%	6.2%	6.9%	6.0%	–	–
EPS (₹)	3.01	2.48	1.15	1.28	2.28	1.33	1.96	1.42	2.68	2.63	2.17	1.13	0.07	0.90	2.93	1.92	1.69	2.36	2.43	2.60	0.33	2.04	1.51	-0.92	-1.75	1.74	2.15	1.71	0.00	0.00
Net profit YoY	+32.2%	+86.7%	−41.2%	−9.0%	−14.3%	−41.5%	−9.3%	+26.3%	+3961.6%	+156.3%	−25.5%	−41.1%	−96.1%	−61.8%	+20.9%	−26.1%	+415.0%	–	+19.3%	+72.0%	+135.7%	+17.2%	−29.8%	−153.7%	–	–	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY20	FY19	FY18
Revenue from operations	2,739	2,488	2,180	1,846	1,563	1,420	1,972	1,737
Other income	18.6	16.5	13.9	15.3	9.9	2	12.7	2.2
Total expenses	2,588	2,353	2,091	1,739	1,450	1,311	1,870	1,567
EBITDA	271	238	187	169	150	156	221	231
EBITDA margin	9.9%	9.6%	8.6%	9.2%	9.6%	11.0%	11.2%	13.3%
Finance costs	55.3	43.1	43.3	26.2	11.9	20.8	43.2	11.4
Depreciation	64.6	60.1	54.5	36.5	25.8	25.7	75.5	49.8
Profit before tax	155	151	116	131	122	61.2	115	172
Tax	35.5	25.3	29.8	19.2	30.3	13.4	10.9	53.5
Net profit	89.8	91.7	70	91.4	94.7	47.3	109	111
Net margin	3.3%	3.7%	3.2%	5.0%	6.1%	3.3%	5.5%	6.4%
EPS (₹)	7.19	7.39	6.91	7.44	7.72	3.85	8.90	9.02
Net profit YoY	−2.1%	+31.1%	−23.5%	−3.5%	–	−56.7%	−1.4%	–

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	247	219	111	62.2	91.6
Investing cash flow	−152	−147	−143	−409	−129
Financing cash flow	−78.4	−82.9	46	318	80.4
Capital expenditure	157	77.1	134	415	222
Free cash flow (CFO − capex)	89.7	142	−22.8	−352	−131

Net profit trend

annual, ₹ crore

FY20

₹47.3

FY22

₹94.7+100%

FY23

₹91.4−3%

FY24

₹70−23%

FY25

₹91.7+31%

FY26

₹89.8−2%

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	–	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	28 Apr 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	–	PDF on NSE XBRL
Q4 FY26	Standalone · audited	28 Apr 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	4 Nov 2025	PDF on NSE XBRL
Q2 FY26	Standalone	4 Nov 2025	PDF on NSE XBRL

Annual reports

NSE archive

FY268.31 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 31.1×36.3×

P/B5Y avg 3.93×4.01×

ROEFY26, on average equity10.5%

Net margin3.3%

Debt / equity0.55×

Revenue CAGR (3Y)14.1%

Profit CAGR (3Y)-0.6%

EPS (TTM)₹7.92

Market cap₹3,588 Cr

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

P/B vs history

4.01×

vs 8-point avg 3.93× (+2%)

2.52× low3.93× avg6.31× high

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

Balance sheet 31 Mar 2026

Total assets₹1,962 Cr+0%

Net worth₹895 Cr+11%

Total borrowings₹489 Cr+0%

Cash & bank balances₹27 Cr+153%

Investments₹6 Cr−10%

Inventories₹364 Cr−30%

Trade receivables₹407 Cr+26%

Trade payables₹452 Cr−16%

Change vs the same date a year earlier.

Revenue mix FY26

Plywood and allied products76.8%result ₹166 Cr

Medium density fibreboards and allied products23.2%result ₹51.7 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	51.93	51.89	51.80	51.69	51.69	51.69	51.66	52.00	52.01	52.00	51.97	52.12
FII	4.44	4.19	4.35	4.49	4.53	5.42	5.75	5.60	4.91	4.13	4.10	2.07
DII	31.43	31.83	32.12	32.41	32.41	31.05	30.90	30.65	30.64	30.62	30.06	33.09
of which MF	30.20	30.55	30.62	30.87	30.96	–	–	–	–	–	–	–
Retail	9.66	8.72	8.30	8.11	8.31	8.50	8.52	8.86	9.32	10.41	10.46	10.68
Other public	2.54	3.37	3.43	3.30	3.06	3.34	3.17	2.89	3.12	2.84	3.41	2.04

52,337 shareholders · NSE shareholding pattern filings.