Quarterly results
consolidated · as filed with NSE · Q1 FY27 back to Q2 FY19
| ₹ 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 8,431 | 8,101 | 8,146 | 8,188 | 8,058 | 7,727 | 7,547 | 7,465 | 7,383 | 7,193 | 7,199 | 7,133 | 7,076 | 6,753 | 6,765 | 7,967 | 6,897 | 7,116 | 6,927 | 6,877 | 6,797 | 6,492 | 4,061 | 1,766 | 1,635 | 1,682 | 1,667 | 1,668 | 1,725 | 1,676 | 1,733 | 1,720 |
| Other income | 121 | 155 | 154 | 82.9 | 85.1 | 91.7 | 83.8 | 114 | 56.4 | 109 | 98.9 | 97.2 | 56.5 | 116 | 89.8 | 62.9 | 92.5 | 109 | 93.9 | 92.7 | 56.9 | 77.3 | 80.9 | 22.2 | 16.5 | 38.6 | 17.3 | 20 | 52.8 | 18.6 | 26.3 | 20.2 |
| Total expenses | 6,205 | 5,891 | 5,880 | 5,793 | 5,809 | 5,456 | 2,412 | 4,599 | 4,848 | 4,813 | 5,221 | 5,483 | 5,322 | 4,976 | 7,314 | 6,855 | 6,347 | 4,794 | 4,932 | 4,936 | 4,977 | 4,773 | 3,180 | 1,193 | 1,115 | 1,181 | 1,131 | 1,072 | 1,081 | 1,094 | 1,058 | 1,121 |
| EBITDA | 4,605 | 4,517 | 4,551 | 4,659 | 4,350 | 4,324 | 6,958 | 4,864 | 4,504 | 4,072 | 3,584 | 3,422 | 3,480 | 3,433 | 1,163 | 2,811 | 2,262 | 4,062 | 3,699 | 3,623 | 3,517 | 3,412 | 2,027 | 907 | 833 | 863 | 866 | 906 | 923 | 755 | 822 | 770 |
| EBITDA margin | 54.6% | 55.8% | 55.9% | 56.9% | 54.0% | 56.0% | 92.2% | 65.2% | 61.0% | 56.6% | 49.8% | 48.0% | 49.2% | 50.8% | 17.2% | 35.3% | 32.8% | 57.1% | 53.4% | 52.7% | 51.7% | 52.6% | 49.9% | 51.3% | 50.9% | 51.3% | 52.0% | 54.3% | 53.5% | 45.1% | 47.4% | 44.7% |
| Finance costs | 486 | 469 | 487 | 462 | 397 | 360 | 255 | 418 | 408 | 127 | 10.7 | 246 | 352 | 336 | 354 | 392 | 372 | 375 | 379 | 367 | 377 | 362 | 233 | 28.8 | 13.7 | 15.7 | 20.3 | −3.8 | −34.2 | −81.7 | −119 | −99.5 |
| Depreciation | 1,894 | 1,838 | 1,798 | 1,801 | 1,704 | 1,693 | 1,569 | 1,580 | 1,561 | 1,565 | 1,596 | 1,526 | 1,374 | 1,320 | 1,358 | 1,307 | 1,339 | 1,365 | 1,324 | 1,316 | 1,320 | 1,332 | 913 | 305 | 298 | 346 | 310 | 313 | 313 | 255 | 265 | 270 |
| Profit before tax | 2,347 | 2,365 | 2,420 | 2,478 | 2,334 | 2,363 | 5,219 | 2,980 | 2,592 | 2,489 | 2,077 | 1,747 | 1,810 | 1,893 | −952 | 1,175 | 643 | 2,431 | 2,089 | 2,033 | 1,877 | 1,796 | 962 | 596 | 537 | 540 | 554 | 617 | 697 | 601 | 702 | 620 |
| Tax | 602 | 572 | 644 | 639 | 597 | 584 | 1,216 | 757 | 666 | 636 | 536 | 452 | 462 | 494 | −244 | 303 | 166 | 603 | 518 | 475 | 462 | 432 | 259 | 151 | 135 | 135 | 140 | 140 | 74.1 | 257 | 271 | 259 |
| Net profit | 1,746 | 1,793 | 1,776 | 1,839 | 1,737 | 1,779 | 4,003 | 2,224 | 1,926 | 1,853 | 1,541 | 1,295 | 1,348 | 1,399 | −708 | 872 | 477 | 1,829 | 1,571 | 1,559 | 1,415 | 1,364 | 979 | 733 | 704 | 650 | 799 | 964 | 887 | 608 | 648 | 600 |
| Net margin | 20.7% | 22.1% | 21.8% | 22.5% | 21.6% | 23.0% | 53.0% | 29.8% | 26.1% | 25.8% | 21.4% | 18.2% | 19.0% | 20.7% | -10.5% | 10.9% | 6.9% | 25.7% | 22.7% | 22.7% | 20.8% | 21.0% | 24.1% | 41.5% | 43.0% | 38.6% | 47.9% | 57.8% | 51.4% | 36.3% | 37.4% | 34.9% |
| EPS (₹) | 6.62 | 6.80 | 6.73 | 6.97 | 6.59 | 6.75 | 15.18 | 8.30 | 7.15 | 6.88 | 5.72 | 4.81 | 5.00 | 5.19 | -2.63 | 3.24 | 1.77 | 6.79 | 5.83 | 5.79 | 5.25 | 5.06 | 4.94 | 3.96 | 3.81 | 3.51 | 4.32 | 5.21 | 4.80 | 3.29 | 3.51 | 3.24 |
| Net profit YoY | +0.5% | +0.8% | −55.6% | −17.3% | −9.8% | −4.0% | +159.9% | +71.7% | +42.9% | +32.4% | +317.5% | +48.5% | +182.4% | −23.5% | −145.1% | −44.1% | −66.3% | +34.1% | +60.4% | +112.7% | +101.2% | +110.0% | +22.6% | −24.0% | −20.7% | +6.9% | +23.2% | +60.6% | – | – | – | – |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 32,493 | 30,123 | 28,601 | 28,382 | 27,717 | 13,954 | 6,743 | 6,826 |
| Other income | 477 | 346 | 361 | 361 | 353 | 197 | 129 | 102 |
| Total expenses | 23,372 | 17,315 | 20,839 | 25,491 | 19,639 | 10,261 | 4,465 | 4,392 |
| EBITDA | 18,155 | 20,650 | 14,557 | 9,669 | 14,901 | 7,179 | 3,558 | 3,112 |
| EBITDA margin | 55.9% | 68.6% | 50.9% | 34.1% | 53.8% | 51.4% | 52.8% | 45.6% |
| Finance costs | 1,893 | 1,440 | 735 | 1,454 | 1,497 | 637 | −2 | −388 |
| Depreciation | 7,141 | 6,402 | 6,060 | 5,324 | 5,325 | 2,848 | 1,282 | 1,066 |
| Profit before tax | 9,598 | 13,154 | 8,122 | 2,759 | 8,431 | 3,891 | 2,407 | 2,536 |
| Tax | 2,453 | 3,222 | 2,086 | 719 | 2,058 | 978 | 489 | 1,059 |
| Net profit | 7,145 | 9,932 | 6,036 | 2,040 | 6,373 | 3,779 | 3,299 | 2,494 |
| Net margin | 22.0% | 33.0% | 21.1% | 7.2% | 23.0% | 27.1% | 48.9% | 36.5% |
| EPS (₹) | 27.09 | 37.31 | 22.40 | 7.57 | 23.65 | 17.52 | 17.84 | 13.49 |
| Net profit YoY | −28.1% | +64.5% | +195.9% | −68.0% | +68.6% | +14.6% | +32.3% | – |
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 | 15,684 | 19,645 | 11,582 | 7,905 | 9,121 |
| Investing cash flow | −10,198 | −10,911 | −7,546 | −1,730 | −2,174 |
| Financing cash flow | −5,588 | −8,648 | −3,996 | −7,133 | −5,982 |
| Capital expenditure | 8,626 | 6,784 | 8,953 | 3,623 | 3,285 |
| Free cash flow (CFO − capex) | 7,058 | 12,861 | 2,629 | 4,282 | 5,836 |
Net profit trend
annual, ₹ croreFY21
₹3,779
FY22
₹6,373+69%
FY23
₹2,040−68%
FY24
₹6,036+196%
FY25
₹9,932+65%
FY26
₹7,145−28%
Result filings
as filed with NSE · PDF and XBRL| Period | Basis | Filed | Documents |
|---|---|---|---|
| Q1 FY27 | Consolidated · audited | 27 Jul 2026 | PDF on NSE XBRL |
| Q1 FY27 | Standalone · audited | 27 Jul 2026 | PDF on NSE XBRL |
| Q4 FY26 | Consolidated · audited | 30 Apr 2026 | PDF on NSE XBRL |
| Q4 FY26 | Standalone · audited | 30 Apr 2026 | PDF on NSE XBRL |
| Q3 FY26 | Consolidated · audited | 2 Feb 2026 | PDF on NSE XBRL |
| Q3 FY26 | Standalone · audited | 2 Feb 2026 | PDF on NSE XBRL |
| Q2 FY26 | Consolidated · audited | 27 Oct 2025 | PDF on NSE XBRL |
| Q2 FY26 | Standalone · audited | 27 Oct 2025 | PDF on NSE XBRL |
| Q1 FY26 | Consolidated · audited | 30 Jul 2025 | PDF on NSE XBRL |
| Q1 FY26 | Standalone · audited | 30 Jul 2025 | PDF on NSE XBRL |
Annual reports
NSE archiveKey ratios
P/E (TTM)5Y avg 13.9×13.8×
P/B5Y avg 2.62×2.49×
ROEFY26, on average equity19.8%
Net margin22.0%
Debt / equity0.02×
Revenue CAGR (3Y)4.6%
Profit CAGR (3Y)51.9%
EPS (TTM)₹27.12
Market cap₹98,836 Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
2.49×
vs 8-point avg 2.62× (−5%)
1.79× low2.62× avg3.65× high
History points are balance-sheet dates (2022 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹71,316 Cr+13%
Net worth₹39,646 Cr+22%
Total borrowings₹921 Cr−59%
Cash & bank balances₹47 Cr−68%
Investments₹4,316 Cr+190%
Inventories₹27 Cr+253%
Trade receivables₹4,939 Cr+4%
Trade payables₹2,672 Cr+9%
Change vs the same date a year earlier.
Revenue mix FY20
b) Indus ( Proportionate Share)54.0%result ₹2,179 Cr
a) Infratel (including subsidiaries)46.0%result ₹2,405 Cr
Segment revenue as reported, before inter-segment eliminations.