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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	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	345	416	406	306	316	379	355	284	268	327	289	227	222	253	234	197	120	144	96.9	42.2	95.1	68.4	47.6	40.7	176	200	153	141	151	143	129	128	132
Other income	2.1	3.1	1.7	1.7	1.6	0.9	0.6	0.5	0.4	3.9	2.2	2.9	2.4	2	0.6	0.7	7.6	2.4	1.9	2.1	1.9	2.2	6	3.1	0.4	3.2	0.9	1.3	2.6	1.8	5.4	0.2	7.2
Total expenses	267	275	278	252	254	257	256	240	239	242	236	195	189	181	175	173	167	150	134	112	136	121	113	110	189	186	156	143	138	128	125	124	126
EBITDA	150	215	205	131	141	204	184	131	115	171	140	102	104	140	126	93.6	21.6	63.3	33.9	−0.1	28.5	20.1	8.3	4.4	63.9	81.2	48.4	44.8	48.9	49	36	34.8	38.2
EBITDA margin	43.4%	51.7%	50.4%	42.7%	44.5%	53.9%	51.9%	46.0%	42.9%	52.4%	48.4%	44.8%	47.0%	55.4%	54.2%	47.6%	18.1%	44.1%	35.0%	-0.2%	30.0%	29.4%	17.5%	10.7%	36.3%	40.7%	31.7%	31.8%	32.5%	34.2%	28.0%	27.2%	29.0%
Finance costs	36.4	38.8	41.4	42.3	44.7	47.2	50.3	51.3	51.8	52.8	53.4	47.3	48.1	45.2	44.5	44.6	42.4	43.8	44.6	43.2	43.1	45.4	46.3	46.9	48.7	45.2	32.5	30	22.3	20.6	19.3	18	19.5
Depreciation	36.1	35.5	34.8	34.3	34.2	34.9	35.1	34.8	34.6	33.4	33.3	22.6	22.8	23.5	23.6	25	26.5	25.4	26.2	26.2	26.1	27.3	27	27.1	27.7	22.7	19.6	17.2	14.3	13.5	13.2	13.1	12.8
Profit before tax	79.4	142	98.8	55.8	63.3	123	99.4	45.1	29.1	89.2	55.2	34.8	35.9	73.2	59	24.7	−39.7	−3.6	−35.1	−67.3	−38.8	−50.4	−59	−66.5	−12.1	16.5	−2.7	−1.2	14.8	16.8	8.9	4	13.1
Tax	21.8	25.1	17	13.9	14.8	14.1	19.7	10.2	9.1	5	11.8	8.6	8.7	14.3	10.6	5.6	−0.3	2	−1.4	−7.5	−14.2	−4.8	−6.2	−7.1	5.6	4.6	0.1	0.7	−19.4	3.4	2.8	2	1.3
Net profit	57.3	116	81.8	41.9	48.1	108	79.8	35	20.1	84	43.8	26.4	27.5	59	48.6	19.4	−39.2	−5.2	−33.2	−59.8	−26.7	−45.7	−53.5	−60.6	−19	11.1	−3	−2.1	33.7	13.9	6.5	2.2	11.7
Net margin	16.6%	28.0%	20.2%	13.7%	15.2%	28.6%	22.5%	12.3%	7.5%	25.7%	15.2%	11.6%	12.4%	23.4%	20.8%	9.8%	-32.8%	-3.6%	-34.2%	-141.9%	-28.1%	-66.9%	-112.5%	-148.9%	-10.8%	5.6%	-2.0%	-1.5%	22.4%	9.7%	5.1%	1.8%	8.9%
EPS (₹)	0.58	1.16	0.79	0.44	0.48	1.07	0.79	0.37	0.25	0.85	0.45	0.29	0.30	0.56	0.51	0.21	-0.31	-0.02	-0.26	-0.51	-0.21	-0.40	-0.47	-0.53	-0.23	0.15	-0.03	-0.02	0.41	0.16	0.07	0.03	0.14
Net profit YoY	+19.2%	+7.7%	+2.5%	+19.7%	+139.1%	+28.7%	+82.3%	+32.8%	−26.9%	+42.3%	−9.9%	+36.3%	–	+250.7%	+1030.6%	+158.4%	−46.6%	+88.6%	+38.1%	+1.2%	−40.5%	−512.6%	−1677.2%	−2780.0%	−156.5%	−20.4%	−146.1%	−193.7%	+187.6%	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Revenue from operations	1,445	1,286	1,071	875	402	252	669	550	484
Other income	8.2	2.3	5.6	3.6	14	13.3	5.8	9.9	7.8
Total expenses	1,059	992	862	701	562	480	675	515	474
EBITDA	691	634	523	448	119	61.3	238	169	136
EBITDA margin	47.8%	49.3%	48.8%	51.2%	29.5%	24.3%	35.6%	30.7%	28.1%
Finance costs	167	201	202	177	174	182	156	80.1	73.6
Depreciation	139	139	112	96.6	104	108	87.2	54.1	52.6
Profit before tax	360	296	215	177	−146	−215	0.5	44.5	17.8
Tax	70.8	53.1	34.1	37.7	−7.2	−32.2	10.9	−11.1	3.8
Net profit	288	243	182	141	−137	−187	−13.1	56.4	14.6
Net margin	20.0%	18.9%	17.0%	16.1%	-34.1%	-74.1%	-2.0%	10.3%	3.0%
EPS (₹)	2.87	2.48	1.88	1.45	-1.11	-1.61	-0.12	0.67	0.18
Net profit YoY	+18.6%	+33.8%	+29.3%	+202.3%	+26.4%	−1328.9%	−123.2%	+287.4%	–

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	542	542	465	385	135
Investing cash flow	−169	−127	−397	−283	−45.4
Financing cash flow	−370	−392	−58.5	−132	−163
Capital expenditure	138	95.8	331	162	67.5
Free cash flow (CFO − capex)	403	446	134	223	67.7

Net profit trend

annual, ₹ crore

FY21

₹−187

FY22

₹−137+26%

FY23

₹141+202%

FY24

₹182+29%

FY25

₹243+34%

FY26

₹288+19%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	7 Aug 2026	PDF on NSE XBRL
Q1 FY27	Standalone	7 Aug 2026	PDF on NSE XBRL
Q4 FY26	Consolidated	28 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone	28 May 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	6 Feb 2026	PDF on NSE XBRL
Q3 FY26	Standalone	6 Feb 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	12 Nov 2025	PDF on NSE XBRL
Q2 FY26	Standalone	12 Nov 2025	PDF on NSE XBRL
Q1 FY26	Consolidated	8 Aug 2025	PDF on NSE XBRL
Q1 FY26	Standalone	8 Aug 2025	PDF on NSE XBRL

Annual reports

NSE archive

FY2616.61 MB FY2513.36 MB FY24 FY23 FY22 FY21 FY20 FY19 FY18

Key ratios

P/E (TTM)5Y avg 42.5×28.2×

P/B5Y avg 8.87×6.04×

ROEFY26, on average equity22.6%

Net margin20.0%

Debt / equity1.44×

Revenue CAGR (3Y)18.2%

Profit CAGR (3Y)27.1%

EPS (TTM)₹3.76

Market cap₹8,405 Cr

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

P/B vs history

6.04×

vs 8-point avg 8.87× (−32%)

5.71× low8.87× avg10.69× high

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

Balance sheet 31 Mar 2026

Total assets₹4,285 Cr+5%

Net worth₹1,392 Cr+20%

Total borrowings₹2,004 Cr−7%

Cash & bank balances₹58 Cr+5%

Investments₹73 Cr+65%

Inventories₹14 Cr−0%

Trade receivables₹116 Cr+48%

Trade payables₹67 Cr+9%

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	22.32	22.32	22.28	22.28	22.28	22.34	22.77	22.77	22.80	22.88	23.21	23.28
FII	19.45	21.60	21.50	21.45	21.33	20.90	20.01	21.75	27.61	27.09	22.82	24.82
DII	14.35	15.67	19.46	19.71	19.98	19.69	20.80	18.91	15.20	15.35	14.99	13.41
of which MF	13.55	14.91	18.50	18.42	18.44	18.21	–	–	–	–	–	–
Retail	23.76	20.48	17.24	17.05	17.14	17.11	16.59	17.47	15.28	15.63	15.80	15.48
Other public	20.07	19.88	19.47	19.46	19.22	19.91	19.78	19.04	19.06	19.00	23.11	22.93

4,22,447 shareholders · NSE shareholding pattern filings.