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Quarterly results

consolidated · as filed with NSE · Q1 FY27 back to Q4 FY18

₹ 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	Q2 FY22	Q1 FY22	Q4 FY21	Q3 FY21	Q2 FY21	Q1 FY21	Q4 FY20	Q3 FY20	Q2 FY20	Q1 FY20	Q4 FY19	Q4 FY18
Revenue from operations	779	684	614	602	677	635	601	602	691	625	777	700	744	598	551	538	566	522	528	548	532	441	395	346	352	346	341	385	0	0
Other income	26.8	20.1	25.1	11.1	16.5	20	13.8	14.9	12.5	12.8	37	6.5	13.1	7.3	20.6	5.3	5.2	34.2	1	1.8	1.9	2.4	0.7	0.6	0.4	1	1.8	1	0	0
Total expenses	750	594	610	552	596	559	580	521	654	540	709	662	712	542	581	552	534	480	446	449	424	396	342	300	319	364	349	350	0	0
EBITDA	64.2	118	31.6	82.2	111	102	48.8	113	66.7	114	98.9	73.9	67.4	87.4	2.2	19.1	64.9	70.6	112	131	137	79.7	90	83	69.7	21.1	32	73.7	0	0
EBITDA margin	8.2%	17.2%	5.1%	13.7%	16.4%	16.1%	8.1%	18.8%	9.7%	18.3%	12.7%	10.5%	9.1%	14.6%	0.4%	3.5%	11.5%	13.5%	21.3%	24.0%	25.9%	18.1%	22.8%	24.0%	19.8%	6.1%	9.4%	19.1%	–	–
Finance costs	10	6.4	7.9	10.1	8.9	6.5	6.9	9.1	9.6	6.9	8.2	13	12.8	8.9	9	10.8	9.3	6.6	8.7	10.3	7.5	11.6	13.4	13.9	13.1	15.9	15.2	15.1	0	0
Depreciation	25.2	21.3	19.2	22.6	22.1	20.6	21.5	22.6	20.3	21.9	22.6	22.6	22.2	22.2	23	21.4	23.3	21.3	22.1	22	22.4	23	23.2	23	23.9	23.6	24.9	23.7	0	0
Profit before tax	55.9	110	19.5	62.4	96.6	96.8	17.8	87.3	48	98.2	104	44.8	45.6	63.6	−9.1	−7.9	37.5	76.9	82.6	101	109	49.4	46.7	46.6	27.3	−17.5	−6.3	35.8	0	0
Tax	0.2	−11.2	2.9	13.9	6.8	24.4	−13	−11.8	−2.5	15.5	8.6	−3.6	−3.8	8.7	2.9	−11.9	−5.4	17.7	17.5	11.3	17.5	17.2	16.3	12.4	−7	−16.1	−4.4	8.9	0	0
Net profit	55.3	121	17.2	48.8	88.7	71.1	31.5	99.8	50.8	84.5	95.8	50.3	49.8	56.3	−11.5	3.7	42.6	60.2	65.2	89.4	89.6	31.7	30.1	33.7	34.7	−2.3	−1.3	27.2	0	0
Net margin	7.1%	17.7%	2.8%	8.1%	13.1%	11.2%	5.3%	16.6%	7.4%	13.5%	12.3%	7.2%	6.7%	9.4%	-2.1%	0.7%	7.5%	11.5%	12.4%	16.3%	16.9%	7.2%	7.6%	9.7%	9.9%	-0.7%	-0.4%	7.1%	–	–
EPS (₹)	2.86	6.60	1.20	2.56	4.92	2.92	1.24	4.76	2.49	4.31	5.44	2.53	2.35	2.48	-0.78	-0.20	1.94	3.07	4.16	5.65	5.83	2.57	2.31	1.92	1.82	-0.24	-0.79	1.30	0.00	0.00
Net profit YoY	−37.7%	+70.4%	−45.4%	−51.2%	+74.5%	−15.9%	−67.1%	+98.4%	+2.0%	+50.0%	+935.3%	+1251.5%	+17.1%	−6.5%	–	−94.3%	−52.4%	−32.8%	+117.0%	+165.6%	+158.0%	+1480.0%	+2380.0%	+23.8%	–	–	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Revenue from operations	2,576	2,529	2,847	2,254	2,108	1,714	1,424	1,661	1,520
Other income	72.8	61.2	69.4	38.4	38.6	5.6	4.1	8.7	9.6
Total expenses	2,352	2,315	2,623	2,208	1,855	1,462	1,383	1,546	1,378
EBITDA	343	331	354	174	374	390	196	229	255
EBITDA margin	13.3%	13.1%	12.4%	7.7%	17.8%	22.8%	13.8%	13.8%	16.8%
Finance costs	33.3	32	40.9	38	33.8	46.4	59.4	38.7	42.3
Depreciation	85.1	85	89.3	89.9	87.1	91.7	96.1	75.6	70.5
Profit before tax	288	250	293	84.1	292	252	39.4	124	143
Tax	12.4	−2.9	16.7	−5.7	52.8	63.4	−18.6	15.3	31.1
Net profit	276	253	280	91.1	240	185	58.3	110	113
Net margin	10.7%	10.0%	9.9%	4.0%	11.4%	10.8%	4.1%	6.6%	7.4%
EPS (₹)	15.29	11.41	14.63	3.24	14.59	12.64	2.10	6.38	6.94
Net profit YoY	+8.9%	−9.7%	+207.7%	−62.0%	+29.6%	+217.3%	−46.9%	−2.5%	–

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	FY23	FY22
Operating cash flow	206	160	105	−72.2	138
Investing cash flow	−126	−83.1	71.1	3.1	−25.9
Financing cash flow	−62.8	−83.8	−169	68.3	−111
Capital expenditure	273	202	32.9	33.7	35.4
Free cash flow (CFO − capex)	−66.5	−42.3	72.4	−106	103

Net profit trend

annual, ₹ crore

FY21

₹185

FY22

₹240+30%

FY23

₹91.1−62%

FY24

₹280+208%

FY25

₹253−10%

FY26

₹276+9%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	3 Aug 2026	PDF on NSE XBRL
Q1 FY27	Standalone	3 Aug 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	28 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	28 May 2026	PDF on NSE 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	11 Aug 2025	PDF XBRL
Q1 FY26	Standalone	11 Aug 2025	PDF XBRL

Annual reports

NSE archive

FY263.08 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 9.7×8.7×

P/B5Y avg 1.42×1.18×

ROEFY26, on average equity16.6%

Net margin10.7%

Debt / equity0.37×

Revenue CAGR (3Y)4.6%

Profit CAGR (3Y)44.6%

EPS (TTM)₹18.80

Market cap₹2,105 Cr

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

P/B vs history

1.18×

vs 8-point avg 1.42× (−17%)

0.91× low1.42× avg2.18× high

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

Balance sheet 31 Mar 2026

Total assets₹3,582 Cr+16%

Net worth₹1,782 Cr+16%

Total borrowings₹662 Cr+23%

Cash & bank balances₹21 Cr+489%

Investments₹24 Cr+99%

Inventories₹615 Cr+20%

Trade receivables₹156 Cr−18%

Trade payables₹114 Cr+8%

Change vs the same date a year earlier.

Revenue mix FY26

Cement54.4%result ₹65.9 Cr

Sugar39.7%result ₹191 Cr

Heavy Engineering4.3%result ₹−4.7 Cr

Hotel1.6%result ₹9.2 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	44.39	44.25	44.25	44.25	44.25	44.25	43.95	43.95	43.95	43.95	43.95	43.94
FII	2.31	2.64	2.75	3.08	3.31	2.90	3.10	2.13	1.69	1.54	1.90	1.86
DII	0.56	0.56	0.56	0.77	0.77	0.75	0.80	0.78	0.55	1.05	0.63	0.70
Retail	42.46	42.17	42.47	42.09	41.88	41.88	41.86	42.34	43.19	43.46	44.75	45.10
Other public	10.28	10.38	9.97	9.81	9.79	10.22	10.29	10.80	10.62	10.00	8.77	8.40

51,336 shareholders · NSE shareholding pattern filings.