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Quarterly results

consolidated · as filed with NSE · Q1 FY27 back to Q1 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	Q2 FY20	Q1 FY20
Revenue from operations	1,956	3,189	2,119	1,977	1,786	3,412	2,613	2,448	2,287	3,743	2,884	2,987	2,717	3,781	2,347	2,239	2,002	29.5	1,762	1,523	1,140	2,422	1,353	1,040	527	1,873	1,211	1,237	1,070
Other income	86.9	102	87.2	135	106	103	79	91.1	98.2	151	128	150	111	173	75.4	67	66.5	0.6	54.9	59.5	35.4	109	23.8	26.5	22.4	23.2	36.2	30.7	58.1
Total expenses	1,903	3,063	2,096	1,960	1,699	3,245	2,567	2,327	2,112	3,524	2,735	2,835	2,561	3,666	2,235	2,094	1,895	28.2	1,651	1,423	1,065	2,248	1,253	966	494	1,745	1,091	1,143	918
EBITDA	205	267	158	141	200	261	132	201	251	286	213	216	209	183	167	200	160	1.9	153	139	108	205	128	104	59.8	155	154	120	176
EBITDA margin	10.5%	8.4%	7.4%	7.1%	11.2%	7.7%	5.0%	8.2%	11.0%	7.6%	7.4%	7.2%	7.7%	4.8%	7.1%	8.9%	8.0%	6.3%	8.7%	9.1%	9.4%	8.5%	9.4%	10.0%	11.3%	8.3%	12.7%	9.7%	16.4%
Finance costs	107	97.3	93	84.5	75.2	62.3	56	52.7	48.2	40.9	37.2	36.9	33.3	33.2	31.1	31.2	28.9	0.2	18.8	16.5	10	8.5	5	6.1	3.8	4.4	12.5	6.4	4.7
Depreciation	44.9	44	41.6	40	37.2	32.1	30.5	27.8	27.5	27.1	27.1	27.1	19.1	35.7	24.1	23.9	23.7	0.3	23	22.9	22.9	23	23.1	23.1	23	22.6	21.2	19.7	19.5
Profit before tax	140	228	110	152	194	270	124	211	273	370	277	301	267	287	187	212	174	1.9	166	159	110	283	123	101	55.4	151	156	125	210
Tax	34.8	56.4	34.8	35.9	47.4	51.3	45.7	56.4	57.8	109	69.1	77.6	75.7	44.2	−12.1	51.7	41.9	−0.2	43.7	43.3	30.1	106	32.2	27.9	20.5	39.8	21.7	50.8	74.5
Net profit	92	191	99.9	137	164	212	86.1	206	224	247	245	251	187	256	190	174	145	2.4	136	126	89	170	102	84.1	34.5	115	142	82.8	145
Net margin	4.7%	6.0%	4.7%	6.9%	9.2%	6.2%	3.3%	8.4%	9.8%	6.6%	8.5%	8.4%	6.9%	6.8%	8.1%	7.8%	7.2%	8.2%	7.7%	8.3%	7.8%	7.0%	7.5%	8.1%	6.5%	6.2%	11.8%	6.7%	13.5%
EPS (₹)	0.99	2.04	1.07	1.47	1.75	2.24	0.92	2.19	2.38	2.62	2.60	2.67	1.99	2.73	2.02	1.85	1.54	2.57	1.44	1.34	0.95	1.81	2.17	1.79	0.73	12.27	15.14	8.81	15.38
Net profit YoY	−43.9%	−9.6%	+16.0%	−33.7%	−26.8%	−14.1%	−64.8%	−17.9%	+19.6%	−3.8%	+28.8%	+44.0%	+29.6%	+10506.7%	+40.2%	+38.3%	+62.5%	−98.6%	+32.7%	+49.8%	+158.2%	+47.7%	−28.3%	+1.5%	−76.2%	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20
Revenue from operations	9,071	10,760	12,331	10,368	73.8	5,342	5,392
Other income	431	371	540	382	2.1	181	148
Total expenses	8,818	10,252	11,656	9,890	69.6	4,961	4,898
EBITDA	766	845	924	703	5.9	497	604
EBITDA margin	8.4%	7.9%	7.5%	6.8%	7.9%	9.3%	11.2%
Finance costs	350	219	148	118	0.7	23.3	27.9
Depreciation	163	118	100	107	1	92.1	82.9
Profit before tax	684	879	1,215	860	6.3	563	642
Tax	175	211	332	126	1	186	187
Net profit	592	728	930	765	5.9	391	485
Net margin	6.5%	6.8%	7.5%	7.4%	8.0%	7.3%	9.0%
EPS (₹)	6.33	7.73	9.88	8.14	6.30	4.16	51.60
Net profit YoY	−18.7%	−21.7%	+21.5%	+12820.3%	−98.5%	−19.4%	–

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	−618	−1,110	−78.6	−168	14.1
Investing cash flow	−366	31.9	−705	1,468	−12.3
Financing cash flow	801	1,156	640	−223	6.8
Capital expenditure	532	1,048	845	64.8	0.2
Free cash flow (CFO − capex)	−1,150	−2,158	−923	−233	13.9

Net profit trend

annual, ₹ crore

FY21

₹391

FY22

₹5.9−98%

FY23

₹765+12820%

FY24

₹930+21%

FY25

₹728−22%

FY26

₹592−19%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	12 Aug 2026	PDF on NSE XBRL
Q1 FY27	Standalone	12 Aug 2026	PDF on NSE XBRL
Q4 FY26	Consolidated	22 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone	22 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	12 Nov 2025	PDF XBRL
Q2 FY26	Standalone	12 Nov 2025	PDF XBRL
Q1 FY26	Consolidated	6 Aug 2025	PDF on NSE XBRL
Q1 FY26	Standalone	6 Aug 2025	PDF on NSE XBRL

Annual reports

NSE archive

FY2617.06 MB FY257.53 MB FY24 FY23 FY22 FY21 FY20 FY19

Key ratios

P/E (TTM)5Y avg 16.9×19.2×

P/B5Y avg 2.21×1.50×

ROEFY26, on average equity9.1%

Net margin6.5%

Debt / equity0.85×

Revenue CAGR (3Y)-4.4%

Profit CAGR (3Y)-8.2%

EPS (TTM)₹5.53

Market cap₹9,965 Cr

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

P/B vs history

1.50×

vs 8-point avg 2.21× (−32%)

0.75× low2.21× avg3.52× high

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

Balance sheet 31 Mar 2026

Total assets₹21,307 Cr+9%

Net worth₹6,639 Cr+5%

Total borrowings₹5,664 Cr+33%

Cash & bank balances₹2,190 Cr−4%

Investments₹367 Cr−11%

Inventories₹12 Cr−86%

Trade receivables₹1,398 Cr+5%

Trade payables₹1,201 Cr−4%

Change vs the same date a year earlier.

Revenue mix FY26

Domestic95.6%result ₹928 Cr

International4.4%result ₹188 Cr

Segment revenue as reported, before inter-segment eliminations.

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	65.17	65.17	65.17	65.17	65.17	65.17	65.17	65.17	65.17	65.17	65.17	73.18
FII	4.60	4.78	4.54	4.61	4.57	4.11	4.08	3.94	4.17	4.58	4.11	4.01
DII	1.79	1.79	1.72	1.64	1.60	1.57	1.44	1.64	2.90	1.32	0.94	0.36
of which MF	0.29	0.29	0.24	0.22	0.20	–	–	–	–	–	–	–
Retail	26.03	25.83	26.08	26.12	26.05	26.58	26.44	26.42	24.35	25.34	24.51	19.17
Other public	2.41	2.43	2.49	2.46	2.61	2.57	2.87	2.83	3.41	3.59	5.27	3.28

10,80,370 shareholders · NSE shareholding pattern filings.