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Quarterly results

consolidated · 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	Q4 FY17
Revenue from operations	618	524	465	465	470	480	558	583	585	554	488	502	555	605	518	569	660	517	507	471	387	424	315	242	142	269	276	267	0
Other income	6.6	4.9	5.4	5.6	10	4.6	7.8	4.1	9.2	9.3	6.6	7.3	7.4	5.9	6.2	5.7	4.2	1.9	1.9	2	1.1	0.9	0.7	0.8	0.9	1.9	1	1.3	0
Total expenses	534	489	484	472	496	460	530	553	549	552	515	495	514	560	490	500	556	419	409	386	320	291	231	213	139	264	270	263	0
EBITDA	112	66.6	8.5	20.2	−0.7	47.2	47.4	62.6	61.8	26.2	−5.9	25.9	59.2	63.6	49	85.4	120	113	112	97.5	83.8	145	96.3	41.8	15.7	16	17.2	14.3	0
EBITDA margin	18.2%	12.7%	1.8%	4.3%	-0.1%	9.8%	8.5%	10.7%	10.6%	4.7%	-1.2%	5.2%	10.7%	10.5%	9.5%	15.0%	18.1%	21.9%	22.1%	20.7%	21.6%	34.1%	30.6%	17.2%	11.0%	6.0%	6.2%	5.4%	–
Finance costs	10.7	10.8	10.4	11.2	8.7	10.7	2.6	16.1	9.4	9.5	8.2	6.6	6.1	6.5	9.1	4.7	3.6	3.5	3.2	1.6	4.5	1.2	5	4.1	4.2	4.2	4.1	3.3	0
Depreciation	17.7	20.4	16.4	16	16.3	16.4	16.4	16.3	16.2	14.7	12.5	12.7	12.2	12.2	11.7	11.6	11.9	11.5	10.9	10.6	11.3	10.5	7.7	7.9	8	7.4	7.3	7.3	0
Profit before tax	90.4	40.4	−12.9	−1.4	−15.6	24.7	36.2	34.3	45.3	11.2	−20	14	48.2	50.7	34.4	74.8	108	100	99.9	87.3	69	134	84.3	30.5	3.9	6	6.8	5	0
Tax	23.9	12.3	−2.1	0.6	−2.6	5.8	7.7	8.1	10.3	2.2	−4.7	3.9	12.5	12.6	8.9	19.4	27.4	26.4	25.6	22.3	17.6	34.1	21.4	7.3	1.6	2	2.3	1.7	0
Net profit	66.4	28.1	−10.9	−2	−13	19	28.5	26.2	35	9	−15.2	10.1	35.6	38.1	25.5	55.4	81	73.6	74.4	65	51.5	99.9	62.9	23.2	2.2	4	4.5	3.4	0
Net margin	10.8%	5.4%	-2.3%	-0.4%	-2.8%	3.9%	5.1%	4.5%	6.0%	1.6%	-3.1%	2.0%	6.4%	6.3%	4.9%	9.7%	12.3%	14.2%	14.7%	13.8%	13.3%	23.5%	20.0%	9.6%	1.6%	1.5%	1.6%	1.3%	–
EPS (₹)	21.57	9.11	-3.52	-0.65	-4.22	6.16	9.27	8.50	11.37	2.93	-4.95	3.27	11.57	12.39	8.28	17.98	26.30	23.91	24.14	21.12	16.72	32.42	20.41	7.52	0.72	1.28	1.45	1.10	0.00
Net profit YoY	+611.6%	+48.1%	−138.0%	−107.7%	−137.1%	+109.8%	+287.3%	+159.8%	−1.7%	−76.3%	−159.8%	−81.8%	−56.0%	−48.2%	−65.7%	−14.9%	+57.4%	−26.3%	+18.3%	+180.8%	+2212.6%	+2424.6%	+1305.0%	+584.5%	–	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY17
Revenue from operations	1,925	2,206	2,099	2,352	1,883	1,124	1,059	1,171
Other income	25.9	25.6	30.6	21.9	7	3.3	6.2	−23
Total expenses	1,940	2,091	2,076	2,106	1,533	874	1,033	917
EBITDA	94.6	219	105	318	407	299	71.8	294
EBITDA margin	4.9%	9.9%	5.0%	13.5%	21.6%	26.6%	6.8%	25.1%
Finance costs	41	38.8	30.4	23.9	12.9	14.6	16	14.9
Depreciation	69.1	65.3	52.1	47.4	44.3	34.1	29.9	25.7
Profit before tax	10.4	141	53.4	268	356	253	31.9	230
Tax	8.2	31.9	13.9	68.3	91.8	64.5	11	84.3
Net profit	2.2	109	39.5	200	265	188	20.9	146
Net margin	0.1%	4.9%	1.9%	8.5%	14.0%	16.7%	2.0%	12.5%
EPS (₹)	0.72	35.29	12.83	64.94	85.88	61.08	6.78	47.42
Net profit YoY	−98.0%	+175.1%	−80.2%	−24.4%	+40.6%	+801.0%	–	–

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	102	261	37.2	233	157
Investing cash flow	−89	−92	−115	−255	−158
Financing cash flow	−52.6	−138	47.9	20.6	−13.5
Capital expenditure	163	137	174	240	99.2
Free cash flow (CFO − capex)	−60.8	124	−137	−7.3	57.6

Net profit trend

annual, ₹ crore

FY21

₹188

FY22

₹265+41%

FY23

₹200−24%

FY24

₹39.5−80%

FY25

₹109+175%

FY26

₹2.2−98%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	5 Aug 2026	PDF on NSE XBRL
Q1 FY27	Standalone	5 Aug 2026	PDF on NSE XBRL
Q4 FY26	Consolidated	18 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone	18 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	3 Nov 2025	PDF on NSE XBRL
Q2 FY26	Standalone	3 Nov 2025	PDF on NSE XBRL
Q1 FY26	Consolidated	11 Aug 2025	PDF on NSE XBRL
Q1 FY26	Standalone	11 Aug 2025	PDF on NSE XBRL

Annual reports

NSE archive

FY265.94 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 128.0×22.4×

P/B5Y avg 1.13×1.37×

ROEFY26, on average equity0.2%

Net margin0.1%

Debt / equity0.27×

Revenue CAGR (3Y)-6.5%

Profit CAGR (3Y)-77.7%

EPS (TTM)₹26.51

Market cap₹1,827 Cr

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

P/B vs history

1.37×

vs 8-point avg 1.13× (+21%)

0.77× low1.13× avg1.49× high

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

Balance sheet 31 Mar 2026

Total assets₹2,300 Cr+4%

Net worth₹1,333 Cr−0%

Total borrowings₹356 Cr+33%

Cash & bank balances₹27 Cr+52%

Investments₹88 Cr−35%

Inventories₹207 Cr−30%

Trade receivables₹350 Cr+23%

Trade payables₹387 Cr−15%

Change vs the same date a year earlier.

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	68.74	68.74	68.74	68.74	68.74	68.74	68.74	68.74	68.74	68.74	68.74	68.74
FII	2.67	2.92	2.88	2.96	3.11	3.10	2.79	2.73	2.50	3.01	3.42	3.73
DII	1.61	1.46	1.21	0.96	0.96	1.44	2.64	2.70	2.15	1.79	1.79	1.80
Retail	19.25	19.30	19.10	19.78	19.66	19.44	18.53	18.80	19.57	19.67	19.60	19.40
Other public	7.73	7.58	8.07	7.56	7.53	7.28	7.30	7.03	7.04	6.79	6.45	6.33

33,319 shareholders · NSE shareholding pattern filings.