Quarterly results
consolidated · as filed with NSE · Q1 FY27 back to Q4 FY24
| ₹ crore | Q1 FY27 | Q4 FY26 | Q3 FY26 | Q2 FY26 | Q1 FY26 | Q4 FY25 | Q3 FY25 | Q2 FY25 | Q1 FY25 | Q4 FY24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 357 | 308 | 318 | 283 | 314 | 284 | 242 | 206 | 182 | 165 |
| Other income | 29.2 | 18.8 | 16.4 | 5.2 | 7 | 5.9 | 5.2 | 4.4 | 2.4 | 3.1 |
| Total expenses | 338 | 289 | 296 | 290 | 293 | 263 | 224 | 191 | 168 | 152 |
| EBITDA | 24.4 | 24.6 | 26.4 | −3.7 | 25.5 | 24.8 | 21.3 | 18 | 16.8 | 15.6 |
| EBITDA margin | 6.8% | 8.0% | 8.3% | -1.3% | 8.1% | 8.7% | 8.8% | 8.7% | 9.2% | 9.5% |
| Finance costs | 0.7 | 0.7 | 0.8 | 0.6 | 0.7 | 0.6 | 0.6 | 0.6 | 0.6 | 0.5 |
| Depreciation | 4.7 | 4.4 | 3.9 | 3.3 | 3.2 | 3 | 2.6 | 2.4 | 2.3 | 2.6 |
| Profit before tax | 48.1 | 38.3 | 35.3 | −2.5 | 28.7 | 27.2 | 23.3 | 20.3 | 20 | 15.6 |
| Tax | 9.9 | 1.7 | 8.5 | −0.5 | 7.4 | 7.1 | 5.9 | 5.3 | 3.2 | 5.2 |
| Net profit | 34.2 | 32.1 | 24 | −3.5 | 18.9 | 16.8 | 15.5 | 13.1 | 14.9 | 7.3 |
| Net margin | 9.6% | 10.4% | 7.5% | -1.2% | 6.0% | 5.9% | 6.4% | 6.3% | 8.2% | 4.5% |
| EPS (₹) | 0.73 | 0.72 | 0.58 | -0.08 | 0.49 | 0.43 | 0.40 | 0.34 | 0.39 | 0.24 |
| Net profit YoY | +80.8% | +91.1% | +54.1% | −126.5% | +27.5% | +128.2% | – | – | – | – |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY26 | FY25 | FY24 |
|---|---|---|---|
| Revenue from operations | 1,228 | 914 | 656 |
| Other income | 47.3 | 18 | 9.2 |
| Total expenses | 1,173 | 846 | 628 |
| EBITDA | 72.8 | 80.9 | 43.8 |
| EBITDA margin | 5.9% | 8.8% | 6.7% |
| Finance costs | 2.7 | 2.3 | 2.9 |
| Depreciation | 14.8 | 10.3 | 12.9 |
| Profit before tax | 99.8 | 90.8 | 67 |
| Tax | 17.1 | 21.5 | −12 |
| Net profit | 71.5 | 60.3 | 73.1 |
| Net margin | 5.8% | 6.6% | 11.1% |
| EPS (₹) | 1.75 | 1.56 | 2.04 |
| Net profit YoY | +18.6% | −17.5% | – |
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 |
|---|---|---|---|
| Operating cash flow | 196 | 122 | 43.2 |
| Investing cash flow | −1,211 | −203 | −44.6 |
| Financing cash flow | 1,287 | 104 | −46.3 |
| Capital expenditure | 5.2 | 4.1 | 7.3 |
| Free cash flow (CFO − capex) | 191 | 118 | 35.9 |
Net profit trend
annual, ₹ croreFY24
₹73.1
FY25
₹60.3−18%
FY26
₹71.5+19%
Result filings
as filed with NSE · PDF and XBRL| Period | Basis | Filed | Documents |
|---|---|---|---|
| Q1 FY27 | Consolidated | 6 Aug 2026 | PDF XBRL |
| Q1 FY27 | Standalone | 6 Aug 2026 | PDF XBRL |
| Q4 FY26 | Consolidated · audited | 21 May 2026 | PDF on NSE XBRL |
| Q4 FY26 | Standalone · audited | 21 May 2026 | PDF on NSE XBRL |
| Q3 FY26 | Consolidated | 22 Jan 2026 | PDF on NSE XBRL |
| Q3 FY26 | Standalone | 22 Jan 2026 | PDF on NSE XBRL |
| Q2 FY26 | Consolidated | 29 Oct 2025 | PDF on NSE XBRL |
| Q2 FY26 | Standalone | 29 Oct 2025 | PDF on NSE XBRL |
| Q1 FY26 | Consolidated | 16 Jul 2025 | PDF on NSE XBRL |
| Q1 FY26 | Standalone | 17 Jul 2025 | PDF on NSE XBRL |
Annual reports
NSE archiveKey ratios
P/E (TTM)5Y avg 105.1×79.2×
P/B5Y avg 10.43×3.36×
ROEFY26, on average equity5.3%
Net margin5.8%
Debt / equity0.01×
Revenue CAGR (3Y)–
Profit CAGR (3Y)–
EPS (TTM)₹1.98
Market cap₹6,871 Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
3.36×
vs 4-point avg 10.43× (−68%)
3.36× low10.43× avg16.96× high
History points are balance-sheet dates (2024 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹2,541 Cr+181%
Net worth₹2,047 Cr+223%
Total borrowings₹25 Cr−24%
Cash & bank balances₹344 Cr+325%
Investments₹522 Cr+483%
Inventories₹0 Cr
Trade receivables₹47 Cr+27%
Trade payables₹192 Cr+86%
Change vs the same date a year earlier.
Revenue mix FY26
Train41.6%result ₹156 Cr
Flight31.8%result ₹160 Cr
Bus24.3%result ₹153 Cr
Others2.3%result ₹5.3 Cr
Segment revenue as reported, before inter-segment eliminations.