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Quarterly results

standalone · 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	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	229	226	178	174	227	200	161	173	229	217	168	195	236	216	173	190	196	164	143	131	70.6	132	101	98.4	71.8	144	150	136	203	194	147	142	205	190
Other income	0.1	0	0.2	0.2	0.1	−0	0.1	−0.2	0.9	0.4	0.1	0.2	5	0.2	1.7	0	0.2	0.6	0.1	0.1	0	0	0	0.1	0.2	0.6	0.1	0	0.1	0.3	0.3	0	0	0.1
Total expenses	219	222	172	164	214	193	166	186	209	202	161	182	217	205	169	180	188	162	140	127	85.4	127	99.6	104	91.2	145	151	134	196	188	146	140	192	181
EBITDA	15.6	10.8	11.5	16.1	19.6	13.2	0.4	−7.6	27.8	22.6	12.5	17.3	24.2	17.2	8.9	14.7	13.5	7.7	7.6	10.2	−9	11.2	7.7	1.8	−11.8	6.4	5.2	9.9	15.4	14.2	9.3	7.5	20.3	16.7
EBITDA margin	6.8%	4.8%	6.5%	9.2%	8.6%	6.6%	0.3%	-4.4%	12.1%	10.4%	7.5%	8.9%	10.3%	7.9%	5.2%	7.7%	6.9%	4.7%	5.3%	7.8%	-12.7%	8.4%	7.7%	1.8%	-16.4%	4.4%	3.5%	7.3%	7.6%	7.3%	6.3%	5.3%	9.9%	8.8%
Finance costs	0.6	0.8	0.4	0.4	0.9	1	1	1	1.6	1.8	0.8	0.5	1.1	1.5	1	0.8	1.1	1	0.8	1.1	1.4	1.5	2	2.4	3	2.7	1.7	2.3	3	3.9	3.2	1.6	2.8	3
Depreciation	5.2	6.2	5.3	5.3	5.3	5.3	5.2	5.3	5.4	5.4	4.6	4.4	4.2	4.2	4.1	4.2	4.2	4.3	4.5	4.5	4.5	4.6	4.6	4.6	4.6	4.7	4.9	4.9	4.8	4.6	4.6	4.4	4.2	4.2
Profit before tax	9.8	3.9	5.9	10.6	13.5	6.8	−5.6	−14.1	21.7	15.7	7.3	12.6	23.8	11.7	5.5	9.6	8.4	2.9	2.4	4.7	−14.7	5	1.3	−5.2	−19.2	−0.4	−1.3	2.8	7.7	6	1.8	1.6	13.4	9.6
Tax	2.5	1	1.9	2.7	3.5	2.4	−1.5	−3.4	5.4	5.3	1.7	3.1	5.4	2.9	2	5.8	0	0	0	0	0	−0.1	0	4.6	−8.1	−0	1	0.8	2.6	1.4	0.7	0.6	4.8	3.8
Net profit	7.3	2.9	4	7.9	10.1	4.4	−4.2	−10.6	16.2	10.4	5.6	9.5	18.4	8.8	3.5	3.8	8.4	2.9	2.4	4.7	−14.7	5	1.3	−9.8	−11.1	−0.3	−2.2	1.9	5	4.5	1.1	1	8.5	5.8
Net margin	3.2%	1.3%	2.2%	4.5%	4.4%	2.2%	-2.6%	-6.2%	7.1%	4.8%	3.3%	4.9%	7.8%	4.1%	2.0%	2.0%	4.3%	1.8%	1.7%	3.6%	-20.9%	3.8%	1.3%	-10.0%	-15.4%	-0.2%	-1.5%	1.4%	2.5%	2.3%	0.8%	0.7%	4.2%	3.0%
EPS (₹)	0.73	0.29	0.40	0.78	1.00	0.44	-0.41	-1.06	1.62	1.04	0.56	0.94	1.83	0.87	0.35	0.38	0.83	0.29	0.24	0.47	-1.47	0.50	0.13	-0.98	-1.10	-0.03	-0.22	0.19	0.50	0.45	0.11	0.10	0.85	0.58
Net profit YoY	−27.4%	−34.3%	+195.7%	+173.9%	−38.1%	−57.9%	−174.7%	−212.2%	−11.6%	+18.9%	+59.0%	+147.4%	+119.9%	+198.3%	+46.9%	−18.3%	+156.7%	−41.7%	+88.9%	+147.6%	−33.1%	+1561.9%	+156.3%	−614.6%	−320.2%	−107.6%	−295.7%	+97.0%	−41.1%	−21.6%	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Revenue from operations	806	763	816	775	508	403	634	689	639
Other income	0.5	0.7	5.7	2.1	0.7	0.3	0.8	0.8	2.9
Total expenses	773	755	762	742	514	422	626	667	626
EBITDA	58.1	33.8	76.6	54.4	16.5	8.8	37	51.3	38.1
EBITDA margin	7.2%	4.4%	9.4%	7.0%	3.2%	2.2%	5.8%	7.5%	6.0%
Finance costs	2.6	4.6	4.2	4.4	4.3	8.9	9.7	11.5	9.6
Depreciation	22.1	21.2	18.7	16.9	17.7	18.4	19.3	17.9	16.5
Profit before tax	33.9	8.7	59.4	35.1	−4.7	−18.2	8.8	22.7	14.9
Tax	9.1	2.9	15.6	10.7	0	−3.5	4.4	7.5	5.1
Net profit	24.8	5.8	43.8	24.4	−4.7	−14.6	4.4	15.2	9.8
Net margin	3.1%	0.8%	5.4%	3.2%	-0.9%	-3.6%	0.7%	2.2%	1.5%
EPS (₹)	2.47	0.58	4.37	2.44	-0.47	-1.46	0.43	1.52	0.98
Net profit YoY	+325.0%	−86.7%	+79.3%	+617.0%	+67.7%	−435.6%	−71.3%	+54.8%	–

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	39.8	54.5	18.8	27.5	17.8
Investing cash flow	−15.8	−20.9	−17.7	−7.4	−5.6
Financing cash flow	−19.9	−35.8	0	−18.8	−11.9
Capital expenditure	16.9	21.1	25.9	12.1	6.3
Free cash flow (CFO − capex)	23	33.5	−7.1	15.4	11.5

Net profit trend

annual, ₹ crore

FY21

₹−14.6

FY22

₹−4.7+68%

FY23

₹24.4+617%

FY24

₹43.8+79%

FY25

₹5.8−87%

FY26

₹24.8+325%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Standalone	6 Aug 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	15 May 2026	PDF on NSE XBRL
Q3 FY26	Standalone	30 Jan 2026	PDF on NSE XBRL
Q2 FY26	Standalone	4 Nov 2025	PDF on NSE XBRL
Q1 FY26	Standalone	8 Aug 2025	PDF on NSE XBRL
Q4 FY25	Standalone · audited	29 May 2025	PDF on NSE XBRL
Q3 FY25	Standalone	13 Feb 2025	PDF on NSE XBRL
Q2 FY25	Standalone	15 Nov 2024	PDF on NSE XBRL
Q1 FY25	Standalone	6 Aug 2024	PDF on NSE XBRL
Q4 FY24	Standalone · audited	16 May 2024	PDF on NSE XBRL

Annual reports

NSE archive

FY269.14 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 64.8×34.6×

P/B5Y avg 3.74×2.37×

ROEFY26, on average equity7.9%

Net margin3.1%

Debt / equity0.08×

Revenue CAGR (3Y)1.3%

Profit CAGR (3Y)0.5%

EPS (TTM)₹2.20

Market cap₹763 Cr

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

P/B vs history

2.37×

vs 8-point avg 3.74× (−37%)

2.22× low3.74× avg6.82× high

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

Balance sheet 31 Mar 2026

Total assets₹467 Cr+3%

Net worth₹322 Cr+6%

Total borrowings₹26 Cr−36%

Cash & bank balances₹11 Cr+57%

Investments₹11 Cr−35%

Inventories₹168 Cr+11%

Trade receivables₹75 Cr−1%

Trade payables₹69 Cr+31%

Change vs the same date a year earlier.

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	74.99	74.99	74.99	74.99	74.99	74.99	74.99	74.99	74.99	74.99	74.99	74.99
FII	0.10	0.10	0.10	0.09	0.20	0.22	0.27	0.64	0.36	0.52	0.54	0.56
DII	0.00	0.00	0.00	0.00	0.00	0.00	0.01	0.01	0.00	0.00	0.05	0.20
Retail	19.26	19.27	19.39	19.55	19.51	19.21	18.97	18.75	19.17	19.04	19.21	18.96
Other public	5.65	5.64	5.52	5.37	5.30	5.58	5.76	5.61	5.48	5.45	5.21	5.29

31,531 shareholders · NSE shareholding pattern filings.