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Quarterly results

consolidated · as filed with NSE · Q1 FY27 back to Q4 FY18

₹ 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 FY18
Revenue from operations	1,019	1,229	1,114	1,117	1,025	1,197	941	1,032	1,027	1,267	1,144	1,264	1,437	1,486	1,281	1,327	1,514	1,418	1,161	1,235	1,045	1,472	1,185	1,090	763	1,176	1,244	1,269	0
Other income	3.5	25.9	23.7	29	9.1	26.3	46.4	159	15.5	20.2	29.4	8	7.1	7.9	11.3	10.6	10.3	7.2	7.5	6.6	3.1	22.9	4.6	4.6	8.4	21.7	6.7	6	0
Total expenses	962	1,175	1,134	1,136	1,042	1,313	1,260	1,323	1,190	1,352	1,214	1,375	1,541	1,638	1,458	1,528	1,589	1,459	1,153	1,202	983	1,423	1,093	981	743	1,253	1,265	1,271	0
EBITDA	156	153	79.1	81.1	83.2	−3	−190	−163	−24.7	37.6	48.8	4.4	8.3	−47.1	−59.6	−76.2	39.8	62.9	115	142	165	166	223	243	156	71.9	130	150	0
EBITDA margin	15.3%	12.5%	7.1%	7.3%	8.1%	-0.3%	-20.2%	-15.8%	-2.4%	3.0%	4.3%	0.3%	0.6%	-3.2%	-4.7%	-5.7%	2.6%	4.4%	9.9%	11.5%	15.8%	11.3%	18.8%	22.3%	20.5%	6.1%	10.4%	11.8%	–
Finance costs	26.2	23.4	24.1	25.3	26.6	38.1	73.4	73.3	82.4	64.7	60.4	60.4	58.2	49.9	61.6	69.5	60.6	48.8	51.3	51	46.7	54.2	69.8	72.4	74.6	81.8	87.2	88	0
Depreciation	71.9	75.9	74.7	74.5	74.1	74.9	55.3	55.1	56.5	58.1	58.1	55	54.5	54.9	55.4	55.2	53.8	55.8	56	57.9	55.9	62.5	61.6	61.3	61.2	66.8	63.7	63.5	0
Profit before tax	35.8	68.8	−4.5	4.4	−132	0.5	93.8	−355	92.7	−49.1	−14.1	−103	−97.2	−258	135	−190	−64.3	−34.5	14.9	39.8	65.3	71.9	96.2	114	28.8	−68.8	−14.2	4.4	0
Tax	9	9.3	−1.9	−4.4	−0.7	−24.1	−39.5	−16.3	21.4	1	−7.5	−17.4	−23.6	−14.1	23.4	−69.2	−148	−8.3	1.9	7.3	18.6	27.9	26.8	38.4	9.1	−57	−4.8	−1.3	0
Net profit	26.9	59.5	−2.7	8.8	−133	14.7	122	−339	58.5	−60.6	0.7	−80.1	−87.4	−227	133	−113	80	−10.6	16.2	29.8	43.1	50.2	67.9	69.2	19.5	−10.4	−8.8	5.1	0
Net margin	2.6%	4.8%	-0.2%	0.8%	-13.0%	1.2%	13.0%	-32.9%	5.7%	-4.8%	0.1%	-6.3%	-6.1%	-15.3%	10.4%	-8.5%	5.3%	-0.7%	1.4%	2.4%	4.1%	3.4%	5.7%	6.3%	2.6%	-0.9%	-0.7%	0.4%	–
EPS (₹)	0.87	1.92	-0.09	0.28	-4.21	0.69	162.95	-11.55	1.87	-1.91	0.00	-2.56	-2.86	-7.40	4.24	-3.62	2.74	6.21	0.24	0.87	1.60	1.88	2.25	2.23	0.65	7.16	-0.24	0.17	0.00
Net profit YoY	+120.2%	+305.3%	−102.2%	+102.6%	−327.3%	+124.2%	+18153.7%	−323.5%	+166.9%	+73.3%	−99.5%	+29.3%	−209.3%	−2044.6%	+720.8%	−480.7%	+85.8%	−121.1%	−76.1%	−57.0%	+121.1%	+582.6%	+872.5%	+1265.1%	–	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY18
Revenue from operations	4,485	4,149	5,112	5,608	4,858	4,511	5,186	5,432
Other income	87.7	209	64.7	40.1	24.4	40.5	41.7	24.5
Total expenses	4,487	5,036	5,482	6,212	4,797	4,240	5,191	5,367
EBITDA	397	−382	99	−143	484	788	595	709
EBITDA margin	8.8%	-9.2%	1.9%	-2.6%	10.0%	17.5%	11.5%	13.1%
Finance costs	99.3	266	244	242	198	271	343	365
Depreciation	299	239	226	219	226	247	256	279
Profit before tax	−63.5	−171	−263	−378	85.5	311	23.6	89.7
Tax	2.2	−58.5	−47.6	−208	19.5	102	−29.9	19.2
Net profit	−67.3	−144	−227	−127	78.5	207	50.2	66.4
Net margin	-1.5%	-3.5%	-4.4%	-2.3%	1.6%	4.6%	1.0%	1.2%
EPS (₹)	-2.17	153.85	-7.32	-4.04	8.92	7.01	9.18	2.29
Net profit YoY	+53.2%	+36.8%	−79.2%	−261.7%	−62.1%	+312.2%	–	–

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	−26.7	−256	344	−19.5	439
Investing cash flow	−103	2,015	248	435	−250
Financing cash flow	40.3	−1,738	−572	−397	−183
Capital expenditure	223	62.4	127	57.7	168
Free cash flow (CFO − capex)	−249	−319	217	−77.1	271

Net profit trend

annual, ₹ crore

FY21

₹207

FY22

₹78.5−62%

FY23

₹−127−262%

FY24

₹−227−79%

FY25

₹−144+37%

FY26

₹−67.3+53%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	18 Jul 2026	PDF on NSE XBRL
Q1 FY27	Standalone	18 Jul 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	25 Apr 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	25 Apr 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	23 Jan 2026	PDF on NSE XBRL
Q3 FY26	Standalone	23 Jan 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	17 Oct 2025	PDF on NSE XBRL
Q2 FY26	Standalone	17 Oct 2025	PDF on NSE XBRL
Q1 FY26	Consolidated	19 Jul 2025	PDF on NSE XBRL
Q1 FY26	Standalone	19 Jul 2025	PDF on NSE XBRL

Annual reports

NSE archive

FY262.30 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)108.3×

P/B5Y avg 1.26×0.99×

ROEFY26, on average equity-0.7%

Net margin-1.5%

Debt / equity0.13×

Revenue CAGR (3Y)-7.2%

Profit CAGR (3Y)–

EPS (TTM)₹2.98

Market cap₹10,013 Cr

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

P/B vs history

0.99×

vs 8-point avg 1.26× (−22%)

0.84× low1.26× avg2.15× high

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

Balance sheet 31 Mar 2026

Total assets₹13,403 Cr−3%

Net worth₹10,124 Cr−1%

Total borrowings₹1,305 Cr+12%

Cash & bank balances₹14 Cr−87%

Investments₹83 Cr+5%

Inventories₹734 Cr+32%

Trade receivables₹248 Cr−62%

Trade payables₹866 Cr−12%

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	75.00	75.00	75.00	75.60	81.49	81.49	55.49	28.42	28.42	28.42	28.42	28.42
FII	3.40	3.48	3.41	3.11	2.97	4.94	14.50	16.17	17.63	13.27	13.58	13.42
DII	12.60	12.90	12.80	12.25	5.77	3.69	6.68	6.05	5.85	8.47	8.94	10.04
of which MF	9.40	9.74	9.53	8.79	2.75	–	–	–	–	–	–	–
Retail	7.49	7.16	7.31	7.37	7.90	8.14	12.75	14.88	15.42	39.33	38.72	37.30
Other public	1.51	1.46	1.48	1.67	1.87	1.74	10.58	34.48	32.68	10.51	10.34	10.82

1,57,402 shareholders · NSE shareholding pattern filings.