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Quarterly results

standalone · as filed with NSE · Q1 FY27 back to Q4 FY17

₹ 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 FY17
Revenue from operations	230	163	169	152	158	182	136	125	166	161	155	162	177	182	184	204	220	183	233	147	155	193	170	168	78.9	92.2	111	157	135	138	161	141	167	179
Other income	1.4	2.2	2.1	0.8	0.6	0.4	1.3	0.4	0.5	0.8	0.5	0.4	0.3	0.1	0.9	0	0	0	0	0	0.1	0.1	0.9	0	0.2	0.5	0.2	0.3	0.3	0.4	2.3	0.4	0.3	−3.1
Total expenses	203	151	162	146	150	171	128	119	158	152	147	150	171	177	180	195	205	170	221	138	162	186	161	159	81.8	90.8	105	153	129	130	156	137	162	170
EBITDA	28.4	12.5	8.6	8	9.5	12.5	9.2	7.7	9.4	10.2	9.7	13.5	6.7	6.5	6.1	8.3	15.6	13.6	11.4	10.3	−5.4	6	10	12.2	−1.3	3.5	7.9	8	8.8	9.7	7.7	6.6	10.2	12
EBITDA margin	12.3%	7.7%	5.1%	5.3%	6.0%	6.9%	6.8%	6.1%	5.7%	6.4%	6.3%	8.4%	3.8%	3.6%	3.3%	4.0%	7.1%	7.5%	4.9%	7.1%	-3.5%	3.1%	5.9%	7.2%	-1.6%	3.8%	7.1%	5.1%	6.5%	7.0%	4.8%	4.7%	6.1%	6.7%
Finance costs	0.7	0.4	0.4	0.3	0.4	0.2	0.3	0.4	0.4	0.3	0.4	0.1	−0.4	0.2	0.9	−1.3	−0.5	0.7	−0.8	0.6	0.3	−1.2	0.1	1.5	0.8	1.1	1.1	2.7	2.2	1.2	1.6	1.8	4.2	1.8
Depreciation	0.9	0.8	1.2	1.2	1.1	1.2	1.2	1.2	1.2	1.2	1.1	1.1	1.1	1.1	1	0.7	0.7	0.7	0.7	0.7	0.7	0.8	0.8	0.9	0.9	0.9	0.9	1	0.7	0.8	0.8	0.8	0.8	1
Profit before tax	28.2	12.3	7.1	7.4	8.6	11.6	9	6.5	8.3	9.5	8.7	12.8	6.2	5.3	5.2	8.9	15.4	12.2	11.5	9	−6.4	6.4	10.1	9.8	−2.7	2	6.1	4.5	6.1	8.1	7.6	4.3	5.5	6
Tax	7	2.9	1.9	1.9	2.1	3	2.4	1.7	2.1	2.4	2.2	3.2	1.6	1.3	1.4	2.8	4	3.7	3	2.3	−1.6	1.6	2.5	2.4	−0.7	0.6	1.4	−0.9	2	2.8	2.8	1.5	2.2	2.1
Net profit	21.2	9.3	5.2	5.5	6.4	8.6	6.7	4.8	6.2	7.1	6.5	9.5	4.6	4	3.8	6	11.4	8.5	8.5	6.7	−4.8	4.9	7.6	7.4	−2.1	1.4	4.7	5.4	4.1	5.3	4.8	2.8	3.3	4
Net margin	9.2%	5.7%	3.1%	3.6%	4.1%	4.7%	4.9%	3.9%	3.7%	4.4%	4.2%	5.9%	2.6%	2.2%	2.1%	2.9%	5.2%	4.7%	3.7%	4.6%	-3.1%	2.5%	4.4%	4.4%	-2.6%	1.5%	4.2%	3.4%	3.0%	3.9%	3.0%	2.0%	2.0%	2.2%
EPS (₹)	4.16	1.83	1.03	1.07	1.26	1.69	1.31	0.95	1.21	1.39	1.27	1.87	0.91	0.78	0.74	1.18	2.24	1.67	1.67	1.31	-0.94	0.95	1.48	1.45	-0.41	0.27	0.92	1.06	0.80	1.04	0.94	0.56	0.64	0.78
Net profit YoY	+228.9%	+8.3%	−21.5%	+12.9%	+4.0%	+21.6%	+3.0%	−49.1%	+34.1%	+79.0%	+71.1%	+58.4%	−59.6%	−53.5%	−55.5%	−10.1%	+339.6%	+75.0%	+12.5%	−9.2%	−130.4%	+257.7%	+60.4%	+36.7%	−150.5%	−74.5%	−2.0%	+89.9%	+25.1%	–	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY17
Revenue from operations	643	609	655	790	718	610	495	607	143
Other income	5.7	2.6	1.9	1	0.2	1.3	1.3	1.2	3.4
Total expenses	610	576	620	757	691	587	478	582	137
EBITDA	39	38.8	40.2	36.4	29.9	26.9	28.1	34.1	8.7
EBITDA margin	6.1%	6.4%	6.1%	4.6%	4.2%	4.4%	5.7%	5.6%	6.1%
Finance costs	1.8	1.2	0.4	−0.7	0.9	1.2	7.2	6.7	2.3
Depreciation	4.3	4.7	4.5	3.6	2.9	3.3	3.6	3.2	0.7
Profit before tax	35.3	35.5	37.2	34.7	26.4	23.6	18.7	25.4	9.2
Tax	8.9	9.1	9.4	9.5	7.4	5.9	3.2	9.2	3.1
Net profit	26.5	26.3	27.7	25.2	18.9	17.7	15.6	16.3	6
Net margin	4.1%	4.3%	4.2%	3.2%	2.6%	2.9%	3.1%	2.7%	4.2%
EPS (₹)	5.19	5.16	5.44	4.94	3.71	3.48	3.05	3.19	1.19
Net profit YoY	+0.6%	−5.0%	+10.0%	+33.0%	+6.8%	+13.9%	−4.2%	–	–

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	43.7	−8.4	54.9	11.4	62.5
Investing cash flow	−32.8	−6.4	−36.4	5.5	15
Financing cash flow	−8.5	13.7	−17.4	−17	−91.9
Capital expenditure	36.3	0.8	11.9	1.2	0.5
Free cash flow (CFO − capex)	7.4	−9.2	43.1	10.2	62

Net profit trend

annual, ₹ crore

FY21

₹17.7

FY22

₹18.9+7%

FY23

₹25.2+33%

FY24

₹27.7+10%

FY25

₹26.3−5%

FY26

₹26.5+1%

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	27 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	27 May 2026	PDF on NSE XBRL
Q3 FY26	Standalone	14 Feb 2026	PDF on NSE XBRL
Q2 FY26	Standalone	14 Nov 2025	PDF on NSE XBRL
Q1 FY26	Standalone	12 Aug 2025	PDF on NSE XBRL
Q4 FY25	Standalone · audited	28 May 2025	PDF on NSE XBRL
Q3 FY25	Standalone	18 Jan 2025	PDF on NSE XBRL
Q2 FY25	Standalone	6 Nov 2024	PDF on NSE XBRL

Annual reports

NSE archive

FY267.91 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 7.3×7.5×

P/B5Y avg 0.80×0.87×

ROEFY26, on average equity7.7%

Net margin4.1%

Debt / equity0.06×

Revenue CAGR (3Y)-6.7%

Profit CAGR (3Y)1.7%

EPS (TTM)₹8.08

Market cap₹310 Cr

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

P/B vs history

0.87×

vs 8-point avg 0.80× (+9%)

0.34× low0.80× avg1.31× high

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

Balance sheet 31 Mar 2026

Total assets₹430 Cr+6%

Net worth₹355 Cr+8%

Total borrowings₹20 Cr−18%

Cash & bank balances₹3 Cr+1570%

Investments₹0 Cr

Inventories₹90 Cr+10%

Trade receivables₹145 Cr−7%

Trade payables₹28 Cr+28%

Change vs the same date a year earlier.

Revenue mix FY26

Manufacturing83.4%result ₹38.5 Cr

Trading16.6%result ₹1.4 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	37.05	37.05	41.23	41.23	41.23	42.37	48.09	53.44	53.44	63.44	63.44	63.44
FII	0.37	0.50	0.42	0.41	0.37	0.46	0.47	0.47	0.42	0.55	0.97	0.74
DII	–	–	–	–	–	0.00	0.12	0.00	0.00	0.00	0.00	0.00
Retail	39.44	39.62	39.67	39.52	39.39	38.25	36.16	30.94	31.45	31.37	30.89	31.31
Other public	23.14	22.83	18.68	18.84	19.01	18.92	15.16	15.15	14.69	4.64	4.70	4.51

37,899 shareholders · NSE shareholding pattern filings.