Quarterly results
consolidated · as filed with NSE · Q1 FY27 back to Q2 FY21
| ₹ 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 629 | 604 | 588 | 574 | 550 | 545 | 531 | 522 | 464 | 417 | 410 | 407 | 391 | 378 | 367 | 356 | 329 | 301 | 284 | 265 | 245 | 221 | 193 | 183 |
| Other income | 23.7 | 17.6 | 15.7 | 21.6 | 30 | 26 | 23 | 27 | 25.4 | 25.2 | 24.3 | 22.2 | 13.7 | 8.5 | 7.8 | 3.8 | 3.8 | 9.9 | 8.3 | 9.6 | 9.3 | 3 | 8.5 | 5.1 |
| Total expenses | 562 | 545 | 527 | 523 | 503 | 508 | 485 | 481 | 421 | 359 | 355 | 350 | 326 | 308 | 293 | 279 | 257 | 241 | 227 | 215 | 197 | 175 | 148 | 145 |
| EBITDA | 118 | 104 | 107 | 98.7 | 94 | 83.9 | 93.9 | 91.8 | 84.8 | 83 | 80.9 | 82.6 | 89.3 | 92.2 | 89.5 | 90.5 | 83.9 | 71.7 | 68 | 60.5 | 56.9 | 55.8 | 51.2 | 44.3 |
| EBITDA margin | 18.7% | 17.2% | 18.2% | 17.2% | 17.1% | 15.4% | 17.7% | 17.6% | 18.3% | 19.9% | 19.7% | 20.3% | 22.9% | 24.4% | 24.4% | 25.5% | 25.5% | 23.8% | 23.9% | 22.9% | 23.3% | 25.3% | 26.6% | 24.2% |
| Finance costs | 28.5 | 22.6 | 24.5 | 25.4 | 24.8 | 24.7 | 26.9 | 28 | 19.8 | 10.3 | 10.7 | 11.2 | 10.1 | 8.8 | 5.8 | 4.5 | 2.8 | 2.9 | 2.4 | 2.4 | 1.6 | 2.3 | 1.3 | 1.6 |
| Depreciation | 22.6 | 21.6 | 22.1 | 22.2 | 22.4 | 22.6 | 21 | 23.1 | 22 | 14.7 | 14.8 | 14.6 | 14.2 | 12.9 | 9.9 | 9.7 | 9.3 | 8.8 | 8.5 | 8.3 | 7.2 | 7.3 | 5.2 | 5.1 |
| Profit before tax | 90.2 | 80.5 | 54.2 | 72.7 | 76.9 | 50.4 | 68.9 | 67.7 | 68.4 | 96.2 | 80.7 | 79.1 | 78.7 | 78.9 | 75.2 | 80.1 | 75.6 | 69.9 | 65.4 | 59.4 | 51.2 | 49.2 | 53.3 | 42.7 |
| Tax | 22.6 | 19.3 | 13.9 | 18.6 | 19.7 | 16.4 | 18.8 | 18.2 | 17.4 | 24.2 | 21.1 | 20.7 | 20.4 | 21.3 | 17.7 | 20.7 | 19.2 | 17.8 | 16.5 | 14.9 | 15.5 | 13.2 | 11.1 | 8.6 |
| Net profit | 67.6 | 61.2 | 40.3 | 54 | 57.1 | 34 | 50.1 | 49.5 | 51 | 72 | 59.6 | 58.5 | 58.3 | 57.7 | 57.6 | 59.4 | 56.3 | 52.1 | 48.9 | 44.4 | 35.7 | 36.1 | 42.2 | 34.1 |
| Net margin | 10.8% | 10.1% | 6.9% | 9.4% | 10.4% | 6.2% | 9.4% | 9.5% | 11.0% | 17.2% | 14.5% | 14.4% | 14.9% | 15.3% | 15.7% | 16.7% | 17.1% | 17.3% | 17.2% | 16.8% | 14.6% | 16.3% | 21.9% | 18.6% |
| EPS (₹) | 4.49 | 4.06 | 2.68 | 3.59 | 3.79 | 2.26 | 3.33 | 3.29 | 3.39 | 4.79 | 3.98 | 3.92 | 4.04 | 4.01 | 4.02 | 4.15 | 3.96 | 3.68 | 3.44 | 3.12 | 2.51 | 2.55 | 2.98 | 2.51 |
| Net profit YoY | +18.3% | +79.9% | −19.6% | +9.1% | +12.0% | −52.8% | −16.0% | −15.3% | −12.5% | +24.8% | +3.5% | −1.6% | +3.5% | +10.7% | +17.7% | +33.7% | +57.7% | +44.5% | +16.1% | +30.4% | – | – | – | – |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 |
|---|---|---|---|---|---|---|
| Revenue from operations | 2,315 | 2,061 | 1,625 | 1,429 | 1,094 | 773 |
| Other income | 85 | 101 | 85.4 | 21.1 | 37.1 | 24.2 |
| Total expenses | 2,097 | 1,895 | 1,389 | 1,134 | 879 | 612 |
| EBITDA | 403 | 354 | 336 | 359 | 258 | 191 |
| EBITDA margin | 17.4% | 17.2% | 20.7% | 25.1% | 23.6% | 24.8% |
| Finance costs | 97.4 | 99.5 | 42.3 | 21.9 | 10 | 7 |
| Depreciation | 88.2 | 88.7 | 58.3 | 41.9 | 32.9 | 22.7 |
| Profit before tax | 284 | 255 | 335 | 310 | 246 | 186 |
| Tax | 71.6 | 70.8 | 86.3 | 78.9 | 64.7 | 23.6 |
| Net profit | 213 | 185 | 248 | 231 | 181 | 162 |
| Net margin | 9.2% | 9.0% | 15.3% | 16.2% | 16.6% | 21.0% |
| EPS (₹) | 14.12 | 12.26 | 16.73 | 16.13 | 12.84 | 11.75 |
| Net profit YoY | +15.1% | −25.7% | +7.5% | +27.5% | +11.5% | – |
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 | 261 | 236 | 213 | 207 | 168 |
| Investing cash flow | −121 | −762 | −466 | −351 | −96.1 |
| Financing cash flow | −144 | 499 | 363 | 72.1 | −90.8 |
| Capital expenditure | 2.9 | 7.7 | 8.2 | 131 | 0.7 |
| Free cash flow (CFO − capex) | 259 | 229 | 204 | 76.1 | 167 |
Net profit trend
annual, ₹ croreFY21
₹162
FY22
₹181+12%
FY23
₹231+27%
FY24
₹248+8%
FY25
₹185−26%
FY26
₹213+15%
Result filings
as filed with NSE · PDF and XBRL| Period | Basis | Filed | Documents |
|---|---|---|---|
| Q1 FY27 | Consolidated | 27 Jul 2026 | PDF on NSE XBRL |
| Q1 FY27 | Standalone | 27 Jul 2026 | PDF on NSE XBRL |
| Q4 FY26 | Consolidated | 28 May 2026 | PDF on NSE XBRL |
| Q4 FY26 | Standalone | 28 May 2026 | PDF on NSE XBRL |
| Q3 FY26 | Consolidated | 9 Feb 2026 | PDF on NSE XBRL |
| Q3 FY26 | Standalone | 9 Feb 2026 | PDF on NSE XBRL |
| Q2 FY26 | Consolidated | 28 Oct 2025 | PDF on NSE XBRL |
| Q2 FY26 | Standalone | 28 Oct 2025 | PDF on NSE XBRL |
| Q1 FY26 | Consolidated | 29 Jul 2025 | PDF on NSE XBRL |
| Q1 FY26 | Standalone | 29 Jul 2025 | PDF on NSE XBRL |
Annual reports
NSE archiveKey ratios
P/E (TTM)5Y avg 42.3×20.9×
P/B5Y avg 9.07×2.76×
ROEFY26, on average equity13.0%
Net margin9.2%
Debt / equity0.84×
Revenue CAGR (3Y)17.4%
Profit CAGR (3Y)-2.7%
EPS (TTM)₹14.85
Market cap₹4,665 Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
2.76×
vs 8-point avg 9.07× (−70%)
2.76× low9.07× avg20.02× high
History points are balance-sheet dates (2022 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹3,625 Cr+8%
Net worth₹1,689 Cr+7%
Total borrowings₹1,413 Cr+22%
Cash & bank balances₹120 Cr+0%
Investments₹504 Cr+44%
Inventories₹0 Cr
Trade receivables₹390 Cr+9%
Trade payables₹97 Cr−8%
Change vs the same date a year earlier.
Revenue mix FY26
PDES79.8%result ₹469 Cr
IMSS16.8%result ₹106 Cr
GBS3.4%result ₹11 Cr
Segment revenue as reported, before inter-segment eliminations.