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Quarterly results

consolidated · as filed with NSE · Q1 FY27 back to Q3 FY19

₹ 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	Q4 FY22	Q1 FY22	Q4 FY21	Q3 FY21	Q2 FY21	Q1 FY21	Q4 FY20	Q3 FY20	Q3 FY19
Revenue from operations	5,243	4,771	4,578	4,336	4,260	4,023	4,098	4,019	3,785	3,672	3,534	3,214	3,223	3,216	3,432	2,947	3,140	3,415	3,503	3,408	3,387	3,355	3,631	3,244
Other income	0	0.1	3.2	0	0	4.3	7.6	4.7	0	5.6	47.3	268	153	202	58.5	120	61.4	172	119	101	10.5	72	105	272
Total expenses	4,007	3,697	3,561	3,347	3,316	3,222	3,281	3,084	2,862	2,983	2,757	2,685	2,663	2,755	2,885	2,648	2,964	2,869	3,273	3,180	3,524	2,971	3,011	2,741
EBITDA	3,269	2,881	2,778	2,674	2,620	2,442	2,422	2,444	2,302	2,051	2,159	1,882	1,953	1,934	2,076	1,719	1,708	2,178	1,975	2,142	1,860	2,209	2,538	2,380
EBITDA margin	62.3%	60.4%	60.7%	61.7%	61.5%	60.7%	59.1%	60.8%	60.8%	55.9%	61.1%	58.6%	60.6%	60.1%	60.5%	58.3%	54.4%	63.8%	56.4%	62.9%	54.9%	65.8%	69.9%	73.4%
Finance costs	1,970	1,747	1,703	1,634	1,636	1,600	1,569	1,476	1,351	1,335	1,353	1,325	1,364	1,445	1,501	1,392	1,509	1,609	1,724	1,889	1,978	1,803	1,890	1,865
Depreciation	62.7	60.4	57.7	51	40.7	41	36.2	33.3	28.4	27.7	29.2	28.3	29.6	28.5	28.3	27.8	23	22.3	21	25.2	18.6	21.5	28.5	12.3
Profit before tax	1,236	1,074	992	989	943	806	824	940	922	694	824	797	714	662	−2,081	419	238	718	349	329	99.3	456	725	776
Tax	320	265	254	254	242	170	198	243	237	141	185	203	183	246	−354	129	60.9	452	60.9	81.3	−48.2	71.1	134	195
Net profit	916	809	738	735	701	636	626	697	685	553	639	594	531	417	453	341	177	266	288	248	147	385	591	581
Net margin	17.5%	17.0%	16.1%	16.9%	16.5%	15.8%	15.3%	17.3%	18.1%	15.1%	18.1%	18.5%	16.5%	13.0%	13.2%	11.6%	5.6%	7.8%	8.2%	7.3%	4.4%	11.5%	16.3%	17.9%
EPS (₹)	3.60	3.22	2.95	2.94	2.81	2.55	2.51	2.79	2.75	2.23	2.57	2.40	2.14	2.02	-6.97	1.18	0.72	1.18	1.45	1.32	0.74	1.93	2.95	2.90
Net profit YoY	+30.7%	+27.3%	+18.0%	+5.5%	+2.3%	+15.0%	−2.1%	+17.2%	+29.2%	+32.6%	+41.2%	–	–	+22.1%	–	+28.3%	+20.1%	−30.9%	−51.4%	–	–	–	+1.8%	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20
Revenue from operations	17,914	15,924	13,581	12,775	11,930	13,678	14,176
Other income	3.4	16.7	475	527	394	402	373
Total expenses	13,890	12,450	11,026	11,171	11,101	12,811	11,868
EBITDA	10,953	9,610	8,046	7,512	6,685	8,155	9,903
EBITDA margin	61.1%	60.3%	59.2%	58.8%	56.0%	59.6%	69.9%
Finance costs	6,720	5,997	5,377	5,797	5,754	7,200	7,514
Depreciation	210	139	115	111	103	87.1	81.6
Profit before tax	3,998	3,491	3,029	−557	1,223	1,495	2,680
Tax	1,015	848	712	172	374	546	980
Net profit	2,983	2,643	2,317	1,536	1,049	949	1,700
Net margin	16.7%	16.6%	17.1%	12.0%	8.8%	6.9%	12.0%
EPS (₹)	11.92	10.61	9.34	-2.59	3.52	4.49	8.50
Net profit YoY	+12.8%	+14.1%	+50.8%	+46.4%	+10.6%	−44.2%	–

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	−14,189	−16,587	673	7,490	6,078
Investing cash flow	367	471	849	−1,107	−5,084
Financing cash flow	15,415	15,419	−7,037	−2,191	−3,026
Capital expenditure	239	195	119	128	77.6
Free cash flow (CFO − capex)	−14,429	−16,782	555	7,363	6,001

Net profit trend

annual, ₹ crore

FY21

₹949

FY22

₹1,049+11%

FY23

₹1,536+46%

FY24

₹2,317+51%

FY25

₹2,643+14%

FY26

₹2,983+13%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	10 Jul 2026	PDF on NSE XBRL
Q1 FY27	Standalone	10 Jul 2026	PDF on NSE XBRL
Q4 FY26	Consolidated	24 Apr 2026	PDF on NSE XBRL
Q4 FY26	Standalone	24 Apr 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	16 Jan 2026	PDF on NSE XBRL
Q3 FY26	Standalone	16 Jan 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	15 Oct 2025	PDF on NSE XBRL
Q2 FY26	Standalone	15 Oct 2025	PDF on NSE XBRL
Q1 FY26	Consolidated	18 Jul 2025	PDF on NSE XBRL
Q1 FY26	Standalone	18 Jul 2025	PDF on NSE XBRL

Annual reports

NSE archive

FY2620.18 MB FY2515.23 MB FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 16.9×22.2×

P/B5Y avg 1.72×2.54×

ROEFY26, on average equity11.1%

Net margin16.7%

Debt / equity2.76×

Revenue CAGR (3Y)11.9%

Profit CAGR (3Y)24.7%

EPS (TTM)₹12.77

Market cap₹71,125 Cr

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

P/B vs history

2.54×

vs 8-point avg 1.72× (+48%)

0.95× low1.72× avg2.54× high

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

Balance sheet 31 Mar 2026

Total assets₹1.42L Cr+18%

Net worth₹27,984 Cr+9%

Total borrowings₹77,146 Cr+25%

Cash & bank balances₹4,489 Cr+55%

Investments₹10,564 Cr−11%

Inventories₹0 Cr

Trade receivables₹102 Cr−12%

Change vs the same date a year earlier.

Revenue mix FY23

Retail business64.8%result ₹1,860 Cr

Wholesale business29.5%result ₹447 Cr

Others*4.8%result ₹2,801 Cr

Defocused business0.9%result ₹−238 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	65.96	65.99	66.03	66.10	66.16	66.24	66.25	66.29	66.37	65.86	65.90	66.02
FII	7.71	7.63	6.66	6.41	6.19	5.48	5.30	6.73	7.33	11.05	10.67	12.12
DII	14.90	14.90	15.33	14.32	14.11	13.29	12.17	12.33	11.64	8.70	9.08	7.02
of which MF	11.56	11.54	11.86	10.51	8.15	–	–	–	–	–	–	–
Retail	9.20	9.43	9.99	10.19	10.60	11.62	12.78	11.60	11.47	11.62	11.55	12.18
Other public	2.23	2.05	1.99	2.98	2.94	3.37	3.50	3.05	3.19	2.77	2.80	2.66

7,32,902 shareholders · NSE shareholding pattern filings.