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Quarterly results

consolidated · as filed with NSE · Q4 FY26 back to Q4 FY18

₹ crore	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	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	Q1 FY19	Q4 FY18
Revenue from operations	55.8	60	53.8	52.8	54.7	58.1	52.5	61	95.5	102	101	106	92.6	100	92.8	83.5	90.8	83.5	66.2	89.2	87.9	74	23.9	87.1	104	102	100	104	105	107	104	97.4
Other income	2	1.7	4.4	0.6	4.4	1.3	0.8	13.4	6.9	4.4	1	0.9	0.9	1.6	1.1	1.3	2	5.6	2.8	2.7	2.1	3.8	6.2	5.2	0.8	0.9	2.1	1.8	0.5	1.4	0.9	4.1
Total expenses	89.3	92.1	77	67.5	70.3	70.8	64.1	80.2	201	115	113	117	150	119	119	126	101	93.5	83	94.1	89.5	81.6	62	107	110	110	109	121	106	113	105	108
EBITDA	−12.7	−11.5	−3.4	3.7	1.7	4.8	5.6	−1.7	−80.1	12.1	11.9	12.9	−24.8	2.1	−5.6	−21.3	8.9	9.2	1.6	14.6	16.7	10.8	−19.2	7	16.2	13.8	12.9	−7.8	6.9	3	5.9	−3.2
EBITDA margin	-22.7%	-19.1%	-6.2%	7.0%	3.1%	8.2%	10.8%	-2.7%	-83.8%	11.8%	11.8%	12.2%	-26.7%	2.1%	-6.1%	-25.6%	9.8%	11.1%	2.4%	16.4%	19.0%	14.7%	-80.4%	8.1%	15.6%	13.6%	12.9%	-7.5%	6.5%	2.8%	5.7%	-3.2%
Finance costs	9.2	9	8.9	8.5	7.9	7.8	7.9	7.3	9.7	9.1	8.7	8	17	6.3	6.5	4.3	3.9	4	3.6	3.8	3.7	3.7	3.6	5	3.8	3.9	4	0.8	0.8	0.8	0.5	0.5
Depreciation	11.6	11.6	10.9	9.9	9.4	9.7	9.4	10.2	15.5	15.6	15.9	16.1	15.5	15.2	14.5	17.1	15.2	15.3	14.8	15.7	14.6	14.8	15.3	21.7	18.3	18	17.2	8.4	6.8	7.7	6.3	7.1
Profit before tax	−27.8	−35.6	−18.8	−14.1	−11.2	−11.4	−10.8	−5.7	−98.5	−8.2	−11.6	−10.4	−56.4	−17.8	−25.6	−41.3	−8.2	−4.5	−14	−2.1	0.5	−3.9	−31.9	−14.5	−5.2	−7.2	−6.2	−15.1	−0.2	−4.1	0.1	−6.7
Tax	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	15.6	2.1	3.3	−3	0	−2.6	0	0.9
Net profit	−27.8	−35.6	−18.8	−14.1	−7	3.7	−15.7	103	−99.2	−8.4	−11.6	−10.4	−56.4	−17.8	−25.6	−41.3	−8.2	−4.5	−14	−2.1	0.5	−3.9	−31.9	−28.7	−20.8	−9.3	−9.5	−13.1	−0.5	−1.8	−0.2	−7.8
Net margin	-49.8%	-59.2%	-34.8%	-26.7%	-12.8%	6.3%	-29.8%	168.2%	-103.9%	-8.2%	-11.6%	-9.8%	-60.9%	-17.8%	-27.6%	-49.5%	-9.0%	-5.3%	-21.1%	-2.4%	0.6%	-5.2%	-133.8%	-33.0%	-20.0%	-9.2%	-9.5%	-12.6%	-0.4%	-1.7%	-0.2%	-8.0%
EPS (₹)	-18.28	-23.41	-13.18	-10.76	-8.52	-8.70	-8.27	-4.40	-75.93	-6.33	-8.76	-7.88	-43.15	-13.61	-19.72	-31.77	-6.37	-3.55	-11.00	-1.82	0.16	3.12	-24.32	-10.99	-16.02	-7.15	-7.28	-10.02	-0.35	-1.42	-0.14	-6.02
Net profit YoY	−295.3%	−1067.2%	−19.7%	−113.7%	+92.9%	+143.7%	−34.6%	+1089.3%	−76.0%	+52.7%	–	+59.5%	−36.3%	−117.9%	−82.9%	−1825.3%	−1641.4%	−15.6%	+56.2%	+92.5%	+102.5%	+58.7%	−235.9%	−119.4%	−4460.5%	−405.8%	−5226.3%	−67.1%	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Revenue from operations	222	217	404	377	324	275	393	420	400
Other income	8.7	17.1	13.2	4.5	11.8	14.8	8.6	4.6	9.6
Total expenses	326	268	546	498	404	327	435	444	429
EBITDA	−23.8	17.9	−43.3	−24.7	−1.6	23	50.3	8	−3.1
EBITDA margin	-10.7%	8.2%	-10.7%	-6.6%	-0.5%	8.4%	12.8%	1.9%	-0.8%
Finance costs	35.6	30.7	35.5	35.9	15.7	14.8	16.7	2.8	1.5
Depreciation	44	37.6	63	60.1	62.5	60.4	75.3	29.1	24.3
Profit before tax	−96.2	−33.4	−129	−116	−68	−37.4	−33	−19.3	−19.3
Tax	0	0	0	0	0	0	21.1	−5.6	−0.4
Net profit	−96.2	83.7	−130	−116	−68	−37.4	−109	−15.6	−19.8
Net margin	-43.2%	38.5%	-32.1%	-30.9%	-21.0%	-13.6%	-27.7%	-3.7%	-4.9%
EPS (₹)	-66.67	-25.50	-98.91	-89.15	-52.69	-29.10	-12.23	-11.93	-15.17
Net profit YoY	−214.9%	+164.5%	−11.5%	−71.1%	−81.7%	+65.6%	−598.9%	+21.2%	–

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	20.6	1.3	38.8	62.8	29.9
Investing cash flow	−63.1	24.9	−8.5	−39.8	−34.7
Financing cash flow	36.7	−37	−37.5	−18.3	11.8
Capital expenditure	40.6	29.8	35.9	25	16
Free cash flow (CFO − capex)	−20.1	−28.5	2.9	37.8	13.9

Net profit trend

annual, ₹ crore

FY21

₹−37.4

FY22

₹−68−82%

FY23

₹−116−71%

FY24

₹−130−12%

FY25

₹83.7+165%

FY26

₹−96.2−215%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Standalone	3 Aug 2026	PDF on NSE XBRL
Q1 FY27	Standalone	–	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	20 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	20 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	–	PDF on NSE XBRL
Q3 FY26	Consolidated	–	PDF on NSE XBRL
Q3 FY26	Consolidated	28 Jan 2026	PDF XBRL
Q3 FY26	Standalone	28 Jan 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	13 Nov 2025	PDF XBRL
Q2 FY26	Standalone	13 Nov 2025	PDF XBRL

Annual reports

NSE archive

FY2610.82 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 4.3×-5.0×

P/B-3.15×

ROEFY26, on average equity65.8%

Net margin-43.2%

Debt / equity-1.07×

Revenue CAGR (3Y)-16.1%

Profit CAGR (3Y)–

EPS (TTM)₹-63.32

Market cap₹481 Cr

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

Balance sheet 31 Mar 2026

Total assets₹278 Cr+17%

Net worth₹-153 Cr−10%

Total borrowings₹163 Cr−3%

Cash & bank balances₹1 Cr−81%

Investments₹39 Cr+965%

Inventories₹20 Cr−22%

Trade receivables₹1 Cr−74%

Trade payables₹13 Cr−9%

Change vs the same date a year earlier.

Shareholding 30 Jun 2026

%	Jun 26	Mar 26	Dec 25	Sept 25	Aug 25	Jun 25	Mar 25	Dec 24	Sept 24	Jun 24	Mar 24	Dec 23
Promoter	51.43	51.43	51.43	51.43	51.43	59.64	59.64	59.64	59.64	59.79	59.79	59.93
FII	0.71	0.68	0.63	0.63	0.82	0.95	1.50	1.27	1.27	1.24	0.74	0.73
DII	2.99	2.95	2.79	2.53	1.80	2.09	1.71	3.37	3.61	3.53	1.97	1.34
Retail	23.24	22.48	21.94	22.01	23.39	27.13	28.30	26.03	25.93	26.46	29.12	29.22
Other public	21.63	22.46	23.21	23.40	22.56	10.19	8.85	9.69	9.55	8.98	8.38	8.78

18,043 shareholders · NSE shareholding pattern filings.