Quarterly results
consolidated · as filed with NSE · Q1 FY27 back to Q4 FY19
| ₹ 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 | Q4 FY21 | Q3 FY21 | Q2 FY21 | Q1 FY21 | Q4 FY20 | Q3 FY20 | Q2 FY20 | Q1 FY20 | Q4 FY19 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 0 | 0 | 0 | 0 | 80.5 | 44.1 | 143 | 391 | 224 | 68.7 | 135 | 380 | 500 | 186 | 325 | 995 | 615 | 602 | 90.9 | 92.8 | 82.6 | 305 | 733 | 1,129 | 995 | 989 | 0 |
| Other income | 1.7 | 1.4 | 2.3 | 1.3 | 1.6 | 19.9 | 18.2 | 21.9 | 17 | 23.6 | 20.2 | 16.1 | 15.1 | 17.6 | 17.9 | 17.5 | 5.7 | 20.6 | 2 | 4.6 | 14 | 28 | 0.2 | 27.1 | 63.9 | 52.7 | 0 |
| Total expenses | 2.2 | 4.1 | 3.4 | 2.5 | 417 | 184 | 179 | 196 | 232 | 227 | 226 | 224 | 240 | 271 | 356 | 840 | 809 | 782 | 213 | 111 | 105 | 781 | 1,868 | 1,211 | 1,228 | 1,171 | 0 |
| EBITDA | −2.2 | −4.1 | −3.4 | −2.5 | −283 | 4.8 | 115 | 361 | 178 | 30.8 | 98 | 348 | 453 | 107 | 217 | 673 | 321 | 210 | −28.9 | 68 | 68.7 | 73.5 | −584 | 470 | 364 | 406 | 0 |
| EBITDA margin | – | – | – | – | -351.6% | 10.8% | 80.4% | 92.4% | 79.5% | 44.8% | 72.8% | 91.6% | 90.6% | 57.2% | 66.9% | 67.6% | 52.3% | 34.9% | -31.8% | 73.2% | 83.2% | 24.1% | -79.7% | 41.6% | 36.6% | 41.0% | – |
| Finance costs | 0 | 0 | 0 | 0 | 31.2 | 88.8 | 94.1 | 110 | 130 | 133 | 133 | 135 | 136 | 127 | 166 | 390 | 391 | 297 | 71.4 | 73.1 | 79.6 | 358 | 354 | 353 | 393 | 385 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 22.2 | 55.4 | 56.6 | 56.6 | 56 | 55.7 | 56.7 | 57.6 | 57 | 64.6 | 81.6 | 128 | 125 | 93.1 | 21.6 | 12.9 | 11.5 | 191 | 197 | 198 | 204 | 203 | 0 |
| Profit before tax | −0.6 | −2.6 | −1.1 | −1.2 | −1,377 | −156 | −17.3 | 816 | 9.3 | −135 | −71.2 | 171 | 275 | −67.2 | 3,424 | 172 | −384 | 123 | −120 | −13.4 | −8.4 | −448 | −1,135 | −54.7 | −169 | −129 | 0 |
| Tax | 0 | 0.4 | 0 | 0 | 0 | 39.7 | 5.8 | 4.8 | 4.4 | 8.4 | 5.9 | 0 | −0.5 | 17.3 | 21 | 17.7 | 15.9 | 26.3 | 6 | 11.9 | 15.8 | −72.7 | 23.9 | 49.6 | −3.9 | 7.6 | 0 |
| Net profit | −0.6 | −3 | −1.1 | −1.2 | −1,377 | −195 | −23 | 811 | 4.9 | −143 | −77.3 | 156 | 275 | −85.1 | 3,402 | 154 | −400 | 96.1 | −214 | −71.2 | −273 | −378 | −1,158 | −96 | −159 | −132 | 0 |
| Net margin | – | – | – | – | -1710.4% | -443.0% | -16.1% | 207.5% | 2.2% | -208.1% | -57.4% | 41.1% | 55.0% | -45.7% | 1047.3% | 15.5% | -65.1% | 16.0% | -235.9% | -76.7% | -330.6% | -124.1% | -157.9% | -8.5% | -16.0% | -13.3% | – |
| EPS (₹) | 0.00 | -0.02 | -0.01 | -0.01 | -5.28 | -0.83 | -0.09 | 4.57 | -0.07 | -0.63 | -0.38 | 0.39 | 0.75 | -0.23 | 18.00 | -0.07 | -2.26 | 0.33 | -0.80 | -0.16 | -0.15 | -1.84 | -6.92 | -0.76 | -0.93 | -0.85 | 0.00 |
| Net profit YoY | +100.0% | +98.5% | +95.2% | −100.1% | −28382.5% | −36.7% | +70.2% | +419.5% | −98.2% | −67.9% | −102.3% | +1.5% | +168.8% | −188.6% | – | – | – | +144.8% | +81.5% | +25.9% | −71.3% | −187.7% | – | – | – | – | – |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|---|---|
| Revenue from operations | 80.5 | 802 | 1,080 | 2,120 | 858 | 310 | 3,847 |
| Other income | 6.7 | 77 | 75 | 58.7 | 30.5 | 22.2 | 144 |
| Total expenses | 427 | 790 | 914 | 2,276 | 1,123 | 583 | 5,478 |
| EBITDA | −293 | 659 | 927 | 1,318 | 292 | 84.5 | 656 |
| EBITDA margin | -363.9% | 82.2% | 85.8% | 62.2% | 34.0% | 27.2% | 17.0% |
| Finance costs | 31.2 | 423 | 534 | 1,074 | 421 | 305 | 1,484 |
| Depreciation | 22.2 | 224 | 227 | 400 | 136 | 52.2 | 803 |
| Profit before tax | −1,382 | 652 | 241 | 3,145 | 269 | −251 | −1,487 |
| Tax | 0.4 | 54.6 | 29 | 71.8 | 72.8 | 38.7 | 77.2 |
| Net profit | −1,383 | 598 | 211 | 3,071 | 2,636 | −937 | −1,545 |
| Net margin | -1717.0% | 74.5% | 19.6% | 144.8% | 307.1% | -301.9% | -40.2% |
| EPS (₹) | -5.32 | 3.58 | -0.13 | 15.44 | 0.97 | -1.82 | -6.92 |
| Net profit YoY | −331.4% | +183.0% | −93.1% | +16.5% | +381.3% | +39.3% | – |
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 | FY21 | FY20 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 5.9 | 599 | 794 | 1,620 | 343 | 377 | 1,646 |
| Investing cash flow | 320 | 81.4 | −159 | −102 | 273 | −94.1 | −431 |
| Financing cash flow | −518 | −830 | −638 | −1,484 | −535 | −221 | −1,326 |
| Capital expenditure | 0 | 9.7 | 0 | −3.8 | 0 | 0.1 | 576 |
| Free cash flow (CFO − capex) | 5.9 | 589 | 794 | 1,617 | 343 | 377 | 1,071 |
Net profit trend
annual, ₹ croreFY21
₹−937
FY22
₹2,636+381%
FY23
₹3,071+17%
FY24
₹211−93%
FY25
₹598+183%
FY26
₹−1,383−331%
Result filings
as filed with NSE · PDF and XBRL| Period | Basis | Filed | Documents |
|---|---|---|---|
| Q1 FY27 | Consolidated | 14 Aug 2026 | PDF on NSE XBRL |
| Q1 FY27 | Standalone | 14 Aug 2026 | PDF on NSE XBRL |
| Q4 FY26 | Consolidated | 29 May 2026 | PDF on NSE XBRL |
| Q4 FY26 | Standalone | 29 May 2026 | PDF on NSE XBRL |
| Q4 FY26 | Standalone | – | PDF on NSE XBRL |
| Q3 FY26 | Consolidated | 13 Feb 2026 | PDF on NSE XBRL |
| Q3 FY26 | Standalone | 13 Feb 2026 | PDF on NSE XBRL |
| Q2 FY26 | Consolidated | 14 Nov 2025 | PDF XBRL |
| Q2 FY26 | Standalone | 14 Nov 2025 | PDF XBRL |
| Q1 FY26 | Consolidated | 13 Aug 2025 | PDF XBRL |
Annual reports
NSE archiveKey ratios
P/E (TTM)5Y avg 2.7×-70.6×
P/B-0.29×
ROEFY26, on average equity133.3%
Net margin-1717.0%
Debt / equity-0.48×
Revenue CAGR (3Y)-66.4%
Profit CAGR (3Y)–
EPS (TTM)₹-0.04
Market cap₹415 Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
Balance sheet 31 Mar 2026
Total assets₹570 Cr−89%
Net worth₹-1,457 Cr−136%
Total borrowings₹701 Cr−79%
Cash & bank balances₹46 Cr−87%
Investments₹32 Cr−40%
Inventories₹0 Cr−100%
Trade receivables₹0 Cr−100%
Trade payables₹1 Cr−92%
Change vs the same date a year earlier.
Revenue mix FY26
Power100.0%result ₹50 Cr
Segment revenue as reported, before inter-segment eliminations.