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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	236	264	243	227	215	185	169	166	136	151	137	132	97.6	112	97.2	77.6	72.6	102	94.2	102	73.5	75.6	81	101	47.6	77.9	70.2	83.2	68.3	83.9	68.5	59.4	43.3	54.4
Other income	0.3	0.4	0.2	0.1	0.2	0.3	0.5	0.1	0.5	0.4	0.1	0.1	0.1	0.1	0	0.1	0	0.2	0	0.1	0	0.1	0	0.1	0.1	0.2	0.2	0	0	0.4	0.1	0	0.1	0.1
Total expenses	220	245	226	208	197	171	156	153	126	144	128	126	95	104	93.9	83.3	75.9	100	92.3	97.4	71.2	74.5	79.4	97	47.2	75.2	65.1	72.5	61	77.7	64.2	56.1	41.5	50.7
EBITDA	25.1	26.9	25.5	25.9	24.3	20.1	17.6	18.3	14.5	13.5	13.5	10.6	6.6	11	6.5	−2.2	−0.3	5	4.7	7.5	5.1	4.2	4.9	7.2	3.3	5.8	8.2	13.5	9.7	8.7	6.9	5.5	4.1	6.3
EBITDA margin	10.6%	10.2%	10.5%	11.4%	11.3%	10.8%	10.4%	11.0%	10.7%	8.9%	9.9%	8.0%	6.8%	9.9%	6.7%	-2.8%	-0.4%	4.9%	4.9%	7.3%	6.9%	5.5%	6.0%	7.2%	6.9%	7.4%	11.7%	16.2%	14.2%	10.4%	10.1%	9.3%	9.5%	11.6%
Finance costs	4.6	4	4.7	3.6	3.6	4	2.5	3.4	3.3	4.1	3.2	2.8	2.5	2.3	2	2.2	1.7	1.8	1.7	1.7	1.8	2.1	2.3	2.4	2	1.9	2.2	1.8	1.4	1.9	1.9	1.6	1.7	1.8
Depreciation	4	3.7	3.4	2.8	2.7	2.2	2.2	2.1	2	2	2	1.9	1.5	1.4	1.2	1.3	1.2	1.2	1.1	1.1	1.1	1	1	0.9	0.9	1.1	1	1	1	0.7	0.7	0.7	0.7	0.8
Profit before tax	20.2	18.8	16.3	19.7	18.2	14.2	13.5	12.9	9.7	7.7	1.3	6	2.6	−3.2	3.3	−5.6	−3.2	2.2	1.9	4.8	2.3	1.1	1.7	4	0.5	2.9	5.3	10.7	7.3	6.6	4.9	3.3	1.8	3.9
Tax	5.1	2.4	2.6	4.9	5.3	4	3.4	2.7	2.8	2.6	−0.2	2	0.7	−0.8	0.9	−1.5	−0.9	0.6	0.6	1.4	0.8	0.3	0.4	1.2	0.2	0.9	1.6	3.2	2.1	1.6	1.7	1	0.5	0.7
Net profit	15.1	16.4	13.7	14.7	12.8	10.1	10	10.2	6.9	5.1	1.5	4	1.9	−2.5	2.4	−4.1	−2.3	1.6	1.3	3.4	1.5	0.9	1.3	2.9	0.4	2.1	3.7	7.5	5.2	5	3.2	2.4	1.3	3.2
Net margin	6.4%	6.2%	5.6%	6.5%	6.0%	5.5%	5.9%	6.1%	5.1%	3.4%	1.1%	3.0%	1.9%	-2.2%	2.5%	-5.2%	-3.1%	1.5%	1.4%	3.3%	2.1%	1.1%	1.5%	2.8%	0.8%	2.7%	5.3%	9.0%	7.6%	5.9%	4.6%	4.0%	3.1%	5.9%
EPS (₹)	4.39	4.98	7.99	8.59	7.47	5.92	5.84	5.95	4.04	2.99	0.89	2.32	1.11	-1.48	1.46	-2.45	-1.37	0.95	0.79	2.04	0.93	0.52	0.75	1.73	0.22	1.23	2.24	4.55	3.14	2.99	1.91	1.43	0.82	2.15
Net profit YoY	+17.8%	+61.4%	+37.2%	+44.8%	+84.9%	+98.4%	+559.0%	+156.1%	+265.2%	+308.4%	−37.3%	+197.9%	+183.6%	−257.0%	+84.8%	−220.3%	−246.8%	+83.2%	+4.8%	+18.1%	+322.1%	−58.8%	−66.1%	−62.0%	−92.9%	−58.3%	+16.9%	+219.9%	+292.6%	–	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY17
Revenue from operations	949	655	518	359	372	305	300	255	34.7
Other income	1	1.5	0.6	0.3	0.3	0.4	0.5	0.6	−0
Total expenses	875	607	493	357	361	298	274	240	33.6
EBITDA	103	70.5	44.2	15.1	22.2	19.5	37.1	25.3	3
EBITDA margin	10.8%	10.8%	8.5%	4.2%	6.0%	6.4%	12.4%	9.9%	8.8%
Finance costs	15.9	13.2	12.7	8.1	6.9	8.7	7.3	7	1.4
Depreciation	12.6	8.5	7.4	5.1	4.5	3.8	4.1	2.7	0.5
Profit before tax	73	50.3	17.7	−8.7	11.2	7.4	26.2	16.6	−6.7
Tax	15.3	13	5.2	−2.3	3.4	2	7.8	4.9	−2.7
Net profit	57.7	37.3	12.5	−6.4	7.8	5.3	18.5	11.8	−4
Net margin	6.1%	5.7%	2.4%	-1.8%	2.1%	1.7%	6.2%	4.6%	-11.6%
EPS (₹)	17.37	21.73	11.39	-3.84	4.71	3.22	11.16	7.12	-2.66
Net profit YoY	+54.7%	+197.9%	+296.6%	−181.6%	+46.3%	−71.1%	+56.7%	–	–

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	90.7	35.6	33.9	8.2	36.3
Investing cash flow	−84.8	−25.3	−19.5	−29.3	−20.6
Financing cash flow	−5.7	−10.7	−14.3	21.2	−15.9
Capital expenditure	70.4	22.7	14.3	0	20.1
Free cash flow (CFO − capex)	20.3	12.9	19.6	8.2	16.2

Net profit trend

annual, ₹ crore

FY21

₹5.3

FY22

₹7.8+46%

FY23

₹−6.4−182%

FY24

₹12.5+297%

FY25

₹37.3+198%

FY26

₹57.7+55%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	11 Aug 2026	PDF on NSE XBRL
Q1 FY27	Standalone	11 Aug 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	16 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	16 May 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	11 Feb 2026	PDF on NSE XBRL
Q3 FY26	Standalone	11 Feb 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	6 Nov 2025	PDF on NSE XBRL
Q2 FY26	Standalone	–	PDF on NSE XBRL
Q2 FY26	Standalone	6 Nov 2025	PDF on NSE XBRL
Q1 FY26	Consolidated	29 Jul 2025	PDF XBRL

Annual reports

NSE archive

FY268.52 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)69.5×

P/B18.84×

ROEFY26, on average equity30.3%

Net margin6.1%

Debt / equity1.00×

Revenue CAGR (3Y)38.3%

Profit CAGR (3Y)–

EPS (TTM)₹17.44

Market cap₹4,169 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₹613 Cr+47%

Net worth₹221 Cr+38%

Total borrowings₹222 Cr+40%

Cash & bank balances₹0 Cr+9%

Investments₹18 Cr+4273%

Inventories₹135 Cr+12%

Trade receivables₹227 Cr+107%

Trade payables₹112 Cr+87%

Change vs the same date a year earlier.

Revenue mix FY26

Engineering Products97.9%result ₹114 Cr

CTC/ PICC/ EPICC2.1%result ₹−1.4 Cr

Segment revenue as reported, before inter-segment eliminations.

Shareholding 21 Jul 2026

%	Jul 26	Jun 26	Mar 26	Mar 26	Dec 25	Sept 25	Jun 25	Mar 25	Dec 24	Sept 24	Jun 24	Mar 24
Promoter	42.58	43.92	43.93	43.93	43.93	43.93	43.98	43.98	43.98	44.05	44.05	44.05
FII	6.84	6.57	6.38	6.38	6.21	6.64	6.30	6.03	6.28	5.97	5.82	5.76
DII	3.22	0.20	0.13	0.13	0.13	0.13	0.07	0.02	0.09	0.02	0.02	0.02
of which MF	3.06	–	–	–	–	–	–	–	–	–	–	–
Retail	28.01	29.26	28.85	28.85	29.58	29.42	29.56	29.42	29.23	29.55	30.42	30.56
Other public	19.35	20.05	20.71	20.71	20.15	19.88	20.09	20.55	20.42	20.41	19.69	19.61

22,219 shareholders · NSE shareholding pattern filings.