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 | Q1 FY20 | Q4 FY19 | Q3 FY19 | Q2 FY19 | Q1 FY19 | Q4 FY18 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 67,942 | 82,762 | 71,450 | 67,984 | 63,679 | 74,392 | 64,668 | 61,555 | 55,120 | 67,079 | 55,128 | 51,024 | 47,882 | 58,335 | 46,390 | 42,763 | 35,853 | 52,851 | 39,563 | 34,773 | 29,335 | 48,088 | 35,596 | 31,035 | 21,260 | 44,245 | 36,243 | 35,328 | 29,636 | 44,934 | 35,709 | 32,081 | 28,283 | 40,678 |
| Other income | 2,377 | 1,579 | 1,441 | 1,384 | 1,357 | 1,135 | 968 | 1,101 | 921 | 1,042 | 838 | 1,133 | 1,146 | 741 | 755 | 739 | 695 | 516 | 571 | 532 | 648 | 1,028 | 1,065 | 559 | 777 | 660 | 475 | 596 | 384 | 621 | 606 | 425 | 244 | 433 |
| Total expenses | 63,396 | 75,999 | 65,730 | 63,032 | 59,176 | 67,988 | 60,303 | 57,101 | 51,364 | 61,792 | 51,194 | 47,166 | 44,696 | 53,169 | 42,944 | 39,559 | 33,616 | 47,805 | 36,579 | 32,286 | 27,708 | 43,369 | 32,981 | 29,456 | 21,368 | 40,656 | 33,494 | 32,622 | 27,365 | 40,317 | 32,696 | 29,225 | 26,380 | 36,198 |
| EBITDA | 6,116 | 8,610 | 7,417 | 6,806 | 6,318 | 8,203 | 6,255 | 6,362 | 5,615 | 7,234 | 5,759 | 5,632 | 4,869 | 6,833 | 5,073 | 4,899 | 3,957 | 6,521 | 4,530 | 3,995 | 3,171 | 6,389 | 4,280 | 3,335 | 1,620 | 5,121 | 4,118 | 4,022 | 3,319 | 5,599 | 3,996 | 3,771 | 2,913 | 5,390 |
| EBITDA margin | 9.0% | 10.4% | 10.4% | 10.0% | 9.9% | 11.0% | 9.7% | 10.3% | 10.2% | 10.8% | 10.4% | 11.0% | 10.2% | 11.7% | 10.9% | 11.5% | 11.0% | 12.3% | 11.5% | 11.5% | 10.8% | 13.3% | 12.0% | 10.7% | 7.6% | 11.6% | 11.4% | 11.4% | 11.2% | 12.5% | 11.2% | 11.8% | 10.3% | 13.3% |
| Finance costs | 539 | 679 | 625 | 763 | 782 | 746 | 843 | 884 | 861 | 926 | 904 | 864 | 851 | 813 | 802 | 836 | 756 | 705 | 814 | 779 | 827 | 853 | 962 | 1,042 | 1,056 | 821 | 709 | 686 | 587 | 507 | 535 | 399 | 365 | 418 |
| Depreciation | 1,032 | 1,168 | 1,072 | 1,092 | 1,033 | 1,052 | 1,047 | 1,024 | 998 | 1,021 | 921 | 910 | 830 | 854 | 825 | 860 | 963 | 769 | 732 | 729 | 717 | 817 | 702 | 713 | 672 | 711 | 660 | 630 | 461 | 475 | 449 | 516 | 645 | 492 |
| Profit before tax | 6,922 | 8,410 | 5,370 | 6,336 | 5,860 | 8,014 | 5,333 | 5,555 | 4,677 | 6,422 | 4,772 | 4,991 | 4,332 | 5,907 | 4,336 | 3,942 | 2,932 | 5,562 | 3,556 | 3,139 | 2,275 | 5,747 | 3,681 | −1,780 | 894 | 4,250 | 3,223 | 3,303 | 2,562 | 5,239 | 3,619 | 3,576 | 2,148 | 4,913 |
| Tax | 1,939 | 2,093 | 1,541 | 1,649 | 1,534 | 1,881 | 1,332 | 1,442 | 1,237 | 1,418 | 1,177 | 1,136 | 1,216 | 1,461 | 1,271 | 1,123 | 639 | 1,555 | 1,059 | 907 | 718 | 2,087 | 1,041 | 489 | 256 | 966 | 711 | 791 | 795 | 1,323 | 1,200 | 886 | 935 | 1,458 |
| Net profit | 4,988 | 6,133 | 3,825 | 4,678 | 4,318 | 5,497 | 3,974 | 4,099 | 3,445 | 5,013 | 3,593 | 3,846 | 3,096 | 4,459 | 3,058 | 2,785 | 2,228 | 4,138 | 2,517 | 2,232 | 1,532 | 3,696 | 2,858 | 5,824 | 544 | 3,562 | 2,752 | 2,770 | 1,810 | 3,789 | 2,362 | 2,593 | 1,472 | 3,338 |
| Net margin | 7.3% | 7.4% | 5.4% | 6.9% | 6.8% | 7.4% | 6.1% | 6.7% | 6.2% | 7.5% | 6.5% | 7.5% | 6.5% | 7.6% | 6.6% | 6.5% | 6.2% | 7.8% | 6.4% | 6.4% | 5.2% | 7.7% | 8.0% | 18.8% | 2.6% | 8.1% | 7.6% | 7.8% | 6.1% | 8.4% | 6.6% | 8.1% | 5.2% | 8.2% |
| EPS (₹) | 29.97 | 38.71 | 23.37 | 28.54 | 26.30 | 39.98 | 24.43 | 24.69 | 20.26 | 31.98 | 21.44 | 22.94 | 17.74 | 28.37 | 18.17 | 15.86 | 12.11 | 25.77 | 14.63 | 12.95 | 8.36 | 24.34 | 16.08 | -18.70 | 2.11 | 21.84 | 15.40 | 16.45 | 9.70 | 24.37 | 14.56 | 15.91 | 8.67 | 22.60 |
| Net profit YoY | +15.5% | +11.6% | −3.8% | +14.1% | +25.4% | +9.7% | +10.6% | +6.6% | +11.3% | +12.4% | +17.5% | +38.1% | +38.9% | +7.7% | +21.5% | +24.8% | +45.5% | +12.0% | −11.9% | −61.7% | +181.6% | +3.7% | +3.9% | +110.2% | −69.9% | −6.0% | +16.5% | +6.8% | +22.9% | +13.5% | – | – | – | – |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 2,85,874 | 2,55,734 | 2,21,113 | 1,83,341 | 1,56,521 | 1,35,979 | 1,45,452 | 1,41,007 | 1,19,862 |
| Other income | 5,761 | 4,125 | 4,158 | 2,929 | 2,267 | 3,429 | 2,361 | 1,852 | 1,412 |
| Total expenses | 2,63,937 | 2,36,755 | 2,04,847 | 1,69,297 | 1,44,378 | 1,27,173 | 1,34,382 | 1,28,572 | 1,09,758 |
| EBITDA | 29,151 | 26,435 | 23,494 | 20,753 | 18,217 | 15,624 | 16,329 | 16,325 | 13,571 |
| EBITDA margin | 10.2% | 10.3% | 10.6% | 11.3% | 11.6% | 11.5% | 11.2% | 11.6% | 11.3% |
| Finance costs | 2,849 | 3,334 | 3,546 | 3,207 | 3,126 | 3,913 | 2,797 | 1,806 | 1,539 |
| Depreciation | 4,365 | 4,121 | 3,682 | 3,502 | 2,948 | 2,904 | 2,462 | 2,084 | 1,929 |
| Profit before tax | 25,976 | 23,579 | 20,517 | 17,109 | 14,530 | 8,542 | 13,431 | 14,581 | 11,639 |
| Tax | 6,816 | 5,891 | 4,947 | 4,484 | 4,239 | 3,873 | 3,263 | 4,343 | 3,199 |
| Net profit | 18,954 | 15,037 | 15,547 | 12,531 | 10,419 | 12,921 | 10,894 | 10,217 | 8,004 |
| Net margin | 6.6% | 5.9% | 7.0% | 6.8% | 6.7% | 9.5% | 7.5% | 7.2% | 6.7% |
| EPS (₹) | 116.93 | 109.36 | 93.96 | 74.51 | 61.71 | 23.82 | 63.38 | 63.51 | 52.62 |
| Net profit YoY | +26.0% | −3.3% | +24.1% | +20.3% | −19.4% | +18.6% | +6.6% | +27.6% | – |
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 | 16,741 | 9,161 | 18,266 | 22,777 | 19,164 |
| Investing cash flow | −11,739 | −15,518 | 2,163 | −8,312 | −3,668 |
| Financing cash flow | −2,156 | 6,557 | −25,413 | −11,572 | −15,181 |
| Capital expenditure | 4,809 | 4,419 | 4,517 | 4,144 | 3,111 |
| Free cash flow (CFO − capex) | 11,932 | 4,742 | 13,750 | 18,633 | 16,053 |
Net profit trend
annual, ₹ croreFY21
₹12,921
FY22
₹10,419−19%
FY23
₹12,531+20%
FY24
₹15,547+24%
FY25
₹15,037−3%
FY26
₹18,954+26%
Result filings
as filed with NSE · PDF and XBRL| Period | Basis | Filed | Documents |
|---|---|---|---|
| Q1 FY27 | Consolidated | 28 Jul 2026 | PDF on NSE XBRL |
| Q1 FY27 | Standalone | 28 Jul 2026 | PDF on NSE XBRL |
| Q4 FY26 | Consolidated · audited | 5 May 2026 | PDF on NSE XBRL |
| Q4 FY26 | Standalone · audited | – | PDF on NSE XBRL |
| Q4 FY26 | Standalone · audited | – | PDF on NSE XBRL |
| Q4 FY26 | Standalone · audited | 5 May 2026 | PDF on NSE XBRL |
| Q3 FY26 | Consolidated | 28 Jan 2026 | PDF on NSE XBRL |
| Q3 FY26 | Standalone | 28 Jan 2026 | PDF on NSE XBRL |
| Q2 FY26 | Consolidated | 29 Oct 2025 | PDF on NSE XBRL |
| Q2 FY26 | Standalone | 29 Oct 2025 | PDF on NSE XBRL |
Annual reports
NSE archiveKey ratios
P/E (TTM)5Y avg 28.6×27.2×
P/B5Y avg 4.71×4.88×
ROEFY26, on average equity18.3%
Net margin6.6%
Debt / equity1.11×
Revenue CAGR (3Y)16.0%
Profit CAGR (3Y)14.8%
EPS (TTM)₹142.65
Market cap₹5.33L Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
4.88×
vs 8-point avg 4.71× (+4%)
3.11× low4.71× avg6.00× high
History points are balance-sheet dates (2022 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹4.53L Cr+19%
Net worth₹1.09L Cr+12%
Total borrowings₹1.22L Cr
Cash & bank balances₹15,391 Cr+26%
Investments₹66,119 Cr+21%
Inventories₹9,531 Cr+24%
Trade receivables₹60,461 Cr+13%
Trade payables₹69,456 Cr+32%
Change vs the same date a year earlier.
Revenue mix FY26
Infrastructure Projects46.8%result ₹7,760 Cr
Energy Projects19.0%result ₹3,374 Cr
IT & Technology Services18.7%result ₹8,634 Cr
Financial Services6.0%result ₹4,032 Cr
Hi-Tech Manufacturing5.0%result ₹2,105 Cr
Others2.8%result ₹2,086 Cr
Development Projects1.8%result ₹539 Cr
Segment revenue as reported, before inter-segment eliminations.