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Quarterly results

consolidated · as filed with NSE · Q1 FY27 back to Q2 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
Revenue from operations	150	291	160	158	128	300	181	140	115	217	139	95.1	64.2	169	114	72.4	46.5	157	104	61.1	45	129	78.9	59.2	32.4	88	76	56.7
Other income	6.1	9	4.1	2	5.3	3	1.3	4.2	1.8	1.6	2.1	1.4	1.2	5.1	3.9	2.2	2.1	2.3	1	0.7	2	−0.4	1.6	0.8	0.9	4.4	1.1	1.3
Total expenses	149	230	152	146	139	252	147	121	117	170	113	86.5	69.3	139	99.7	67.9	52.5	135	91	62.2	50.9	103	68.1	57	38.2	79.7	67.1	53.6
EBITDA	8.1	68.9	17	20.2	−3.9	58.9	40.7	24.6	3.4	53.1	31.7	14.3	−0.3	35.7	20.3	9.4	−1.6	27.4	18.3	3	−1.8	30.7	15.7	6.9	−1.6	12.6	14.2	7.5
EBITDA margin	5.4%	23.7%	10.6%	12.8%	-3.1%	19.6%	22.5%	17.6%	3.0%	24.4%	22.8%	15.0%	-0.5%	21.1%	17.8%	13.0%	-3.3%	17.4%	17.6%	4.9%	-4.1%	23.8%	19.9%	11.6%	-4.9%	14.3%	18.7%	13.2%
Finance costs	2.1	3.4	3.1	3.4	3	3.9	3.7	2.9	2.5	3	3.1	3	2	2.6	3	2.3	2.1	2.2	2.6	2	1.8	2.4	2.7	2.5	2.2	2.5	3.2	2.2
Depreciation	5.6	5.2	5.1	4.9	4.5	7	3.6	3.4	3.1	2.8	2.6	2.7	2.7	2.9	2.7	2.6	2.5	2.9	2.6	2	2.2	2.2	2.2	2.1	2	1.8	2.1	2.1
Profit before tax	6.5	69.3	12.9	14.1	−6.1	50.9	34.7	22.4	−0.4	48.8	28.2	10	−3.8	35.3	18.5	6.7	−4	24.6	14.2	−0.4	−3.8	25.7	12.4	3	−4.9	12.7	9.9	4.4
Tax	1.5	12.7	−0.2	3.1	−1.1	15.2	−0.1	6.2	−0.5	9.9	5.6	1.4	−0.4	2	1.5	1.1	0.1	1.2	0.6	0.7	−0.1	1.9	2.3	1.6	−0.2	2.6	2.5	1.7
Net profit	5.1	56.7	13.1	11	−5.2	35.8	34.8	16.1	0.1	39	22.6	8.5	−3.4	33.2	17	5.6	−4.1	23.5	13.6	−1.2	−3.7	23.7	10.1	1.4	−4.7	10.1	7.4	2.7
Net margin	3.4%	19.5%	8.1%	7.0%	-4.1%	11.9%	19.3%	11.6%	0.1%	17.9%	16.3%	9.0%	-5.2%	19.7%	14.8%	7.8%	-8.9%	14.9%	13.1%	-1.9%	-8.3%	18.4%	12.8%	2.3%	-14.5%	11.4%	9.7%	4.7%
EPS (₹)	0.81	9.01	2.08	1.75	-0.82	5.72	5.54	2.58	0.06	32.30	18.82	7.10	-2.80	27.62	14.22	4.73	-3.47	19.72	11.45	-0.97	-3.14	20.05	8.55	1.15	-3.97	8.51	6.25	2.26
Net profit YoY	+198.4%	+58.5%	−62.4%	−32.1%	−6737.5%	−8.2%	+53.7%	+89.0%	+102.3%	+17.2%	+33.4%	+51.4%	+18.7%	+41.6%	+24.8%	+588.6%	−11.0%	−1.2%	+34.5%	−184.6%	+20.6%	+135.6%	+36.7%	−49.0%	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20
Revenue from operations	736	735	516	402	368	299	278
Other income	20.5	10.4	6.3	13.2	6.1	2.9	7.9
Total expenses	666	638	439	359	339	266	258
EBITDA	102	128	98.7	63.8	46.8	51.7	38
EBITDA margin	13.9%	17.4%	19.1%	15.9%	12.7%	17.3%	13.7%
Finance costs	12.8	13.1	11	9.9	8.6	9.8	10.3
Depreciation	19.7	17	10.8	10.6	9.7	8.6	7.8
Profit before tax	90.1	108	83.2	56.5	34.6	36.2	27.7
Tax	14.6	20.9	16.5	4.8	2.4	5.6	7.6
Net profit	75.5	86.8	66.8	51.7	32.2	30.5	20.1
Net margin	10.3%	11.8%	12.9%	12.9%	8.8%	10.2%	7.2%
EPS (₹)	12.01	13.88	55.36	43.27	27.09	25.78	16.98
Net profit YoY	−13.0%	+30.0%	+29.1%	+60.7%	+5.4%	+51.9%	–

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	56.1	54.9	58.3	34	14.5
Investing cash flow	−23.6	−72.1	−68.3	−15.8	−16.4
Financing cash flow	−17.3	−1.6	31.9	−13.3	1.7
Capital expenditure	37.1	43.9	24.4	16.1	13
Free cash flow (CFO − capex)	18.9	11	34	17.8	1.5

Net profit trend

annual, ₹ crore

FY21

₹30.5

FY22

₹32.2+5%

FY23

₹51.7+61%

FY24

₹66.8+29%

FY25

₹86.8+30%

FY26

₹75.5−13%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	11 Aug 2026	PDF XBRL
Q1 FY27	Standalone	11 Aug 2026	PDF XBRL
Q4 FY26	Consolidated · audited	26 May 2026	PDF XBRL
Q4 FY26	Standalone · audited	26 May 2026	PDF XBRL
Q3 FY26	Consolidated	13 Feb 2026	PDF on NSE XBRL
Q3 FY26	Standalone	13 Feb 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	13 Nov 2025	PDF XBRL
Q2 FY26	Standalone	13 Nov 2025	PDF XBRL
Q1 FY26	Consolidated	7 Aug 2025	PDF on NSE XBRL
Q1 FY26	Standalone	7 Aug 2025	PDF on NSE XBRL

Annual reports

NSE archive

FY2617.61 MB FY25 FY24 FY23 FY22 FY21 FY20

Key ratios

P/E (TTM)5Y avg 30.8×43.6×

P/B5Y avg 6.19×7.20×

ROEFY26, on average equity15.9%

Net margin10.3%

Debt / equity0.16×

Revenue CAGR (3Y)22.3%

Profit CAGR (3Y)13.5%

EPS (TTM)₹13.64

Market cap₹3,736 Cr

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

P/B vs history

7.20×

vs 8-point avg 6.19× (+16%)

4.18× low6.19× avg8.44× high

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

Balance sheet 31 Mar 2026

Total assets₹881 Cr+18%

Net worth₹519 Cr+20%

Total borrowings₹83 Cr+2%

Cash & bank balances₹42 Cr+230%

Investments₹13 Cr+24%

Inventories₹195 Cr+3%

Trade receivables₹301 Cr+33%

Trade payables₹104 Cr+25%

Change vs the same date a year earlier.

Revenue mix FY26

Outside India55.5%result ₹0 Cr

Within India44.5%result ₹0 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	Mar 24	Dec 23
Promoter	43.24	43.24	43.44	43.40	43.39	43.39	43.52	43.61	43.65	49.44	49.55	50.98
FII	1.54	1.78	2.00	2.06	1.96	1.96	2.27	1.58	1.67	1.18	1.19	1.21
DII	0.32	0.39	0.49	0.53	1.04	0.90	0.78	0.59	3.53	3.59	3.65	3.95
Retail	36.88	37.21	37.53	38.28	38.49	39.10	38.69	38.69	36.22	29.56	29.54	29.30
Other public	18.02	16.92	16.54	15.73	15.12	14.65	14.74	15.53	14.93	16.23	16.07	14.56

47,080 shareholders · NSE shareholding pattern filings.