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Quarterly results

consolidated · as filed with NSE · Q1 FY27 back to Q3 FY20

₹ 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
Revenue from operations	937	1,202	1,182	1,221	1,306	1,198	1,166	951	944	904	940	1,259	770	880	890	1,137	1,179	1,252	1,099	992	695	828	620	476	119	477	542
Other income	3.6	5.3	9.1	1.7	2.9	22.8	2.5	2.7	1.1	1.4	4.3	0.5	0.6	5	0.4	19.4	0.5	0.7	3.3	2	0.4	7.5	0.4	11.2	1.7	4.1	0.5
Total expenses	876	1,143	1,180	1,198	1,256	1,170	1,155	997	965	946	1,043	1,269	825	885	956	1,155	1,139	1,145	1,032	967	681	750	599	513	186	531	582
EBITDA	102	102	50.5	68.4	90.9	82.2	63.3	3	29.3	9.6	−56.5	31.3	−23.9	22.8	−42.4	2	58.5	129	94.6	47.8	35.2	101	44.5	−11.2	−40.8	−13.4	0.1
EBITDA margin	10.8%	8.5%	4.3%	5.6%	7.0%	6.9%	5.4%	0.3%	3.1%	1.1%	-6.0%	2.5%	-3.1%	2.6%	-4.8%	0.2%	5.0%	10.3%	8.6%	4.8%	5.1%	12.2%	7.2%	-2.3%	-34.4%	-2.8%	0.0%
Finance costs	29.4	31.6	36.1	33.6	29	41.6	39.6	38.1	38	40.7	36.7	30.8	23.5	20.1	16.3	12.4	10.8	14	19.6	14.6	13.7	15.4	15.1	16.9	18.5	19.4	19.4
Depreciation	12	11.9	12	12	11.9	12.3	12.6	11.7	11.6	10.9	10.1	9.8	8.3	7.6	7.6	7.9	8.1	8.2	7.8	7.7	7.6	7.9	8.7	8.8	8.4	21.4	21.5
Profit before tax	63.7	64.1	8.8	24.6	52.8	51.1	13.6	−44.1	−19.2	−40.5	−99	−8.8	−55.2	0.1	−65.9	1	40.1	107	70.5	27.4	14.3	85.6	21.1	−25.6	−77.6	−50.1	−40.3
Tax	0	0	0	0	0	0	0	0	0	0	0	0	0	−1.5	0	−0.2	1.5	0	−24.9	−24.9	0.1	−43.1	−55.1	−11.8	0	0	152
Net profit	63.7	64.1	8.8	24.6	52.8	51.1	13.6	−44.1	−19.2	−40.5	−99	−8.8	−55.2	1.6	−65.9	1.1	38.6	107	95.4	52.3	14.2	129	76.2	−13.8	−77.6	−50.1	−192
Net margin	6.8%	5.3%	0.7%	2.0%	4.0%	4.3%	1.2%	-4.6%	-2.0%	-4.5%	-10.5%	-0.7%	-7.2%	0.2%	-7.4%	0.1%	3.3%	8.6%	8.7%	5.3%	2.0%	15.5%	12.3%	-2.9%	-65.4%	-10.5%	-35.5%
EPS (₹)	2.44	2.46	0.34	0.94	2.02	1.96	0.53	-1.69	-0.73	-1.55	-3.79	-0.34	-2.11	0.06	-2.53	0.04	1.48	4.10	3.65	2.00	0.54	4.93	2.92	-0.53	-2.97	-1.92	-7.37
Net profit YoY	+20.8%	+25.6%	−35.4%	+155.7%	+375.0%	+226.2%	+113.7%	−402.6%	+65.2%	−2598.8%	−50.2%	−869.3%	−242.9%	−98.5%	−169.1%	−97.8%	+171.5%	−16.7%	+25.2%	+478.8%	+118.3%	+356.9%	+139.6%	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20
Revenue from operations	4,910	4,259	3,873	4,085	4,038	2,043	2,122
Other income	19	29	6.8	24.4	6.3	20.8	5.9
Total expenses	4,776	4,287	4,084	4,134	3,825	2,049	2,308
EBITDA	312	178	−39.5	41.8	306	93.9	−8
EBITDA margin	6.4%	4.2%	-1.0%	1.0%	7.6%	4.6%	-0.4%
Finance costs	130	157	132	59.6	61.9	65.9	92.3
Depreciation	47.8	48.2	39.1	31.3	31.3	33.8	86
Profit before tax	150	1.4	−203	−24.7	219	3.4	−180
Tax	0	0	0	−0.2	−49.6	−110	136
Net profit	150	1.4	−203	−24.6	269	113	−317
Net margin	3.1%	0.0%	-5.3%	-0.6%	6.7%	5.5%	-14.9%
EPS (₹)	5.75	0.05	-7.79	-0.94	10.30	4.34	-12.14
Net profit YoY	+10629.3%	+100.7%	−728.3%	−109.1%	+137.3%	+135.8%	–

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	12.9	234	−219	−81	200
Investing cash flow	−22.9	−38.7	−260	−348	−75.4
Financing cash flow	2.6	−195	447	479	−123
Capital expenditure	23.8	38.7	260	365	80.2
Free cash flow (CFO − capex)	−10.9	196	−479	−446	120

Net profit trend

annual, ₹ crore

FY21

₹113

FY22

₹269+137%

FY23

₹−24.6−109%

FY24

₹−203−728%

FY25

₹1.4+101%

FY26

₹150+10629%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	29 Jul 2026	PDF on NSE XBRL
Q1 FY27	Standalone	29 Jul 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	–	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	25 May 2026	PDF XBRL
Q4 FY26	Standalone · audited	–	PDF on NSE XBRL
Q4 FY26	Standalone · audited	25 May 2026	PDF XBRL
Q3 FY26	Consolidated	31 Jan 2026	PDF on NSE XBRL
Q3 FY26	Standalone	31 Jan 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	10 Nov 2025	PDF on NSE XBRL
Q2 FY26	Standalone	10 Nov 2025	PDF on NSE XBRL

Annual reports

NSE archive

FY263.83 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 320.4×16.1×

P/B5Y avg 2.64×5.00×

ROEFY26, on average equity33.9%

Net margin3.1%

Debt / equity2.18×

Revenue CAGR (3Y)6.3%

Profit CAGR (3Y)–

EPS (TTM)₹6.17

Market cap₹2,594 Cr

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

P/B vs history

5.00×

vs 8-point avg 2.64× (+89%)

1.51× low2.64× avg5.00× high

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

Balance sheet 31 Mar 2026

Total assets₹3,244 Cr+11%

Net worth₹519 Cr+41%

Total borrowings₹1,132 Cr+1%

Cash & bank balances₹17 Cr−31%

Investments₹0 Cr

Inventories₹667 Cr+12%

Trade receivables₹243 Cr+46%

Trade payables₹1,451 Cr+11%

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	74.84	74.84	74.84	74.84	74.84	74.84	74.84	74.84	74.84	74.84	74.84	74.84
FII	0.13	0.25	0.22	0.37	0.50	0.01	0.01	0.02	0.00	0.03	0.17	0.16
DII	0.92	0.92	0.92	0.92	0.92	2.56	2.56	2.58	2.89	2.89	3.07	3.07
Retail	7.96	8.16	8.66	8.81	8.77	8.07	8.21	8.13	7.95	7.86	7.47	7.70
Other public	16.15	15.83	15.36	15.06	14.97	14.52	14.38	14.43	14.32	14.38	14.45	14.23

26,804 shareholders · NSE shareholding pattern filings.