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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	Q3 FY22	Q2 FY22	Q1 FY22	Q4 FY21	Q3 FY21	Q2 FY21	Q1 FY21	Q4 FY20	Q3 FY20	Q2 FY20	Q4 FY19	Q3 FY19	Q2 FY19	Q4 FY18
Revenue from operations	920	249	265	139	82.4	719	350	308	341	526	75.8	198	571	797	368	123	200	376	240	304	197	296	190	64.6	141	222	130	192	195	72.3	211	478
Other income	17.1	13.6	16.5	23.1	14.5	4.5	19.6	12.7	9.5	1.3	7.9	6.7	7.4	7.5	6.4	14.5	4.3	4.9	4.4	5.7	4	6.3	4.4	2.9	3.2	9.1	4.2	3.4	2.5	4.3	2.4	7.1
Total expenses	737	264	272	183	119	623	334	305	336	569	147	220	520	632	411	143	164	347	224	266	155	274	166	96.6	176	234	154	186	154	104	192	405
EBITDA	190	−6	8.1	−37.2	−26	106	25.6	16.2	27.8	−6.9	−36.7	3.5	91.2	173	−25.5	−5.6	46.9	40.5	30.5	52.8	62.5	38.9	45.5	−9.5	−12.5	3.8	2.8	31.9	76.8	−7.7	42.5	104
EBITDA margin	20.6%	-2.4%	3.0%	-26.8%	-31.5%	14.8%	7.3%	5.2%	8.2%	-1.3%	-48.4%	1.8%	16.0%	21.8%	-6.9%	-4.5%	23.4%	10.8%	12.7%	17.4%	31.7%	13.1%	23.9%	-14.7%	-8.9%	1.7%	2.1%	16.6%	39.3%	-10.7%	20.1%	21.8%
Finance costs	2.3	6.1	10.5	3.3	6.7	6.4	6.1	10.7	18.7	21	30.8	9.4	36.6	6.4	14.4	11.5	8.4	8.9	11.5	12	17.6	14.3	18.3	19	18.8	13.2	21.7	21.5	31.8	20.7	19.3	26.8
Depreciation	4.6	3.6	4	4.2	4.2	4.3	3.4	2.4	4.2	14.9	4.2	15.5	3.1	2.5	3.3	3.1	2.6	2.7	2.7	2.6	2.5	2.5	2.6	3.5	3.4	2.9	4.9	4.8	3.6	3.9	3.8	4.8
Profit before tax	200	−2.2	10	−21.6	−22.5	100	35.7	15.7	14.4	−41.5	−63.7	−14.7	58.8	172	−36.8	−5.7	40.1	36.1	11.5	43.9	46.4	28.5	29.1	−29.2	−31.5	−3.2	−19.6	9.1	43.9	−27.9	21.8	79.4
Tax	52.8	12.4	6	−2.9	−5.3	35	9.6	6.9	10.4	−18.5	−4.2	9.3	10	50.8	−9.1	0.7	13.8	6.9	5.8	23.4	15.4	6.7	4	−6.2	−3.8	−1	−5.3	23.6	10.3	−6.2	10.6	18.1
Net profit	147	−14.3	4.2	−11.1	−16.9	66.3	26.3	10.3	6.4	−26.2	−63	−26.2	48	121	−28.1	−6.9	26	26.7	7.1	20.3	30.8	20.9	25	−23	−27.7	−2.2	−14.3	−14.6	33.7	−21.7	11.2	61.3
Net margin	15.9%	-5.7%	1.6%	-8.0%	-20.5%	9.2%	7.5%	3.4%	1.9%	-5.0%	-83.2%	-13.2%	8.4%	15.2%	-7.6%	-5.6%	13.0%	7.1%	3.0%	6.7%	15.6%	7.1%	13.1%	-35.6%	-19.7%	-1.0%	-11.0%	-7.6%	17.2%	-30.0%	5.3%	12.8%
EPS (₹)	16.49	-1.78	0.51	-1.18	-2.21	8.59	3.33	1.28	0.82	-3.57	-8.27	-3.33	6.05	15.38	-3.54	-1.15	2.79	0.00	0.71	2.33	3.88	2.74	2.96	-2.88	-3.56	-2.17	-1.72	-1.84	5.29	-1.70	1.35	5.36
Net profit YoY	+968.8%	−121.6%	−83.9%	−207.7%	−365.0%	+353.2%	+141.8%	+139.4%	−86.7%	−121.7%	−124.3%	−281.3%	+84.4%	+352.8%	−495.2%	−134.0%	−15.5%	+27.7%	−71.5%	+188.0%	+211.2%	+1058.7%	+274.4%	−58.0%	–	−106.5%	+33.9%	−230.1%	−45.1%	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Revenue from operations	735	1,717	1,371	1,488	1,117	692	1,130	869	1,403
Other income	67.5	46.4	23.3	32.6	19	16.7	47	11.1	14.3
Total expenses	839	1,598	1,456	1,351	992	712	993	729	1,214
EBITDA	−61.1	176	51.1	189	186	62.4	234	247	303
EBITDA margin	-8.3%	10.2%	3.7%	12.7%	16.7%	9.0%	20.7%	28.4%	21.6%
Finance costs	26.7	41.9	97.9	40.7	50	70.3	79.7	92	98.7
Depreciation	16	14.3	37.7	11.6	10.4	12	17.2	14.9	15.4
Profit before tax	−36.2	166	−61.1	170	138	−3.2	184	151	203
Tax	10.1	61.8	−3.4	56.3	51.4	0.7	84	51.8	49.3
Net profit	−38.1	109	−67.5	112	84.9	−4.8	99.7	99.4	154
Net margin	-5.2%	6.4%	-4.9%	7.5%	7.6%	-0.7%	8.8%	11.4%	10.9%
EPS (₹)	-4.51	14.02	-9.12	13.48	0.00	-0.73	9.55	9.95	16.03
Net profit YoY	−134.8%	+262.0%	−160.3%	+31.8%	+1860.4%	−104.8%	+0.3%	−35.3%	–

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	217	282	−111	193	350
Investing cash flow	−474	−241	−134	−45.3	−115
Financing cash flow	278	−160	319	−67.9	−200
Capital expenditure	37.7	57.5	43.1	18.5	12.1
Free cash flow (CFO − capex)	179	224	−154	174	338

Net profit trend

annual, ₹ crore

FY21

₹−4.8

FY22

₹84.9+1860%

FY23

₹112+32%

FY24

₹−67.5−160%

FY25

₹109+262%

FY26

₹−38.1−135%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	10 Aug 2026	PDF on NSE XBRL
Q1 FY27	Standalone	10 Aug 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	22 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	22 May 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	5 Feb 2026	PDF on NSE XBRL
Q3 FY26	Standalone	5 Feb 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	11 Nov 2025	PDF on NSE XBRL
Q2 FY26	Standalone	11 Nov 2025	PDF on NSE XBRL
Q1 FY26	Consolidated	29 Jul 2025	PDF on NSE XBRL
Q1 FY26	Standalone	29 Jul 2025	PDF on NSE XBRL

Annual reports

NSE archive

FY269.41 MB FY259.17 MB FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 23.0×30.5×

P/B5Y avg 3.57×3.17×

ROEFY26, on average equity-3.7%

Net margin-5.2%

Debt / equity0.95×

Revenue CAGR (3Y)-21.0%

Profit CAGR (3Y)–

EPS (TTM)₹14.15

Market cap₹3,831 Cr

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

P/B vs history

3.17×

vs 8-point avg 3.57× (−11%)

2.11× low3.57× avg5.60× high

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

Balance sheet 31 Mar 2026

Total assets₹7,557 Cr+42%

Net worth₹1,207 Cr+45%

Total borrowings₹1,142 Cr+3%

Cash & bank balances₹202 Cr+12%

Investments₹476 Cr+692%

Inventories₹5,275 Cr+46%

Trade receivables₹63 Cr+2%

Trade payables₹660 Cr+21%

Change vs the same date a year earlier.

Shareholding 30 Jun 2026

%	Jun 26	Mar 26	Dec 25	Sept 25	Jun 25	Jun 25	Mar 25	Dec 24	Sept 24	Jun 24	Mar 24	Dec 23
Promoter	73.81	73.81	73.81	73.81	69.45	59.52	69.45	69.45	69.45	69.45	69.45	74.45
FII	10.61	9.96	8.77	8.78	8.12	6.78	4.15	3.05	3.13	4.51	4.77	2.59
DII	3.30	3.39	3.75	3.70	4.49	3.75	5.59	5.96	5.19	4.96	6.02	4.52
of which MF	2.98	2.98	2.98	2.98	3.79	3.25	–	–	–	–	–	–
Retail	8.85	9.27	10.51	11.29	14.48	12.46	15.43	16.30	17.24	16.28	15.13	14.23
Other public	3.43	3.57	3.16	2.42	3.46	17.49	5.38	5.24	4.99	4.80	4.63	4.21

40,601 shareholders · NSE shareholding pattern filings.