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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	Q1 FY20	Q4 FY19	Q3 FY19	Q2 FY19	Q1 FY19	Q4 FY18
Revenue from operations	2,940	2,858	2,924	2,980	2,866	2,982	2,653	2,573	2,462	2,538	2,422	2,387	2,301	2,096	2,049	1,995	1,874	1,756	1,688	1,608	1,518	1,441	1,401	1,314	1,295	1,447	1,423	1,402	1,348	1,343	1,317	1,266	1,152	1,055
Other income	29.1	55.3	33.3	65.6	67.7	49.3	33.5	65	62.2	56	62.4	41.2	47.7	49.8	74.2	39.2	44.8	41.9	37	29.3	44.2	34.6	48.8	56.6	13.7	61.4	44.3	46.9	56.5	33.7	35.9	55	98.2	75.5
Total expenses	2,493	2,440	2,511	2,597	2,501	2,604	2,247	2,197	2,091	2,123	2,019	1,992	1,918	1,714	1,677	1,645	1,541	1,439	1,384	1,323	1,267	1,214	1,199	1,145	1,149	1,236	1,193	1,172	1,127	1,123	1,100	1,065	983	937
EBITDA	548	521	514	491	462	476	495	466	456	503	488	476	453	449	441	422	401	381	367	349	318	293	276	233	206	268	286	283	273	248	242	229	196	164
EBITDA margin	18.6%	18.2%	17.6%	16.5%	16.1%	15.9%	18.6%	18.1%	18.5%	19.8%	20.1%	19.9%	19.7%	21.4%	21.5%	21.1%	21.4%	21.7%	21.8%	21.7%	20.9%	20.3%	19.7%	17.7%	15.9%	18.5%	20.1%	20.2%	20.2%	18.5%	18.4%	18.1%	17.0%	15.5%
Finance costs	14.4	17	14.9	15.8	16.5	15.9	15.5	11.9	13.1	13.2	13.1	12.6	12	10.6	11.5	13.1	10.8	10.5	11.1	11.3	10.8	12.5	11.4	10.9	10.7	9.4	8.9	9.1	9.1	0.5	0.6	0.4	0.4	0.8
Depreciation	87	86.5	86.7	92.6	81.1	81.6	72.8	78.3	72.6	74.6	71.5	68.1	57.4	56.5	58.3	59	57.6	53.1	53	52.9	55.4	54	62.4	52.7	49.2	48.5	47.2	44.4	42.8	27.3	23.9	27	26	45.2
Profit before tax	476	436	410	448	433	427	440	441	433	471	466	436	431	432	446	389	377	359	340	314	296	261	251	226	160	272	275	277	277	254	253	256	268	194
Tax	124	116	107	119	116	117	120	121	119	130	129	120	119	121	141	106	102	95.6	90.7	83.6	78.7	65.9	63.7	59.5	41.7	65.5	68.7	70.4	73.2	61.6	67	64.6	69.8	34.4
Net profit	357	333	303	329	316	310	320	320	314	341	337	316	312	311	305	283	275	263	250	231	217	195	187	166	118	206	206	206	204	192	186	192	198	159
Net margin	12.1%	11.6%	10.4%	11.0%	11.0%	10.4%	12.0%	12.4%	12.8%	13.5%	13.9%	13.2%	13.6%	14.8%	14.9%	14.2%	14.7%	15.0%	14.8%	14.4%	14.3%	13.6%	13.3%	12.7%	9.1%	14.3%	14.5%	14.7%	15.1%	14.3%	14.1%	15.1%	17.2%	15.1%
EPS (₹)	33.17	30.14	28.56	31.02	29.81	29.38	30.47	30.20	29.65	32.25	31.80	29.84	29.45	29.32	28.75	26.75	25.98	24.83	23.61	21.89	20.57	18.54	17.75	15.81	11.22	19.61	19.57	19.79	19.60	18.41	17.86	18.51	19.28	15.52
Net profit YoY	+13.0%	+7.3%	−5.1%	+2.9%	+0.7%	−9.1%	−5.1%	+1.3%	+0.6%	+9.8%	+10.4%	+11.5%	+13.5%	+18.1%	+22.2%	+22.7%	+26.7%	+34.8%	+33.5%	+38.8%	+83.9%	−5.3%	−9.2%	−19.4%	−42.2%	+7.2%	+10.6%	+7.5%	+3.0%	+20.9%	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Revenue from operations	10,996	10,670	9,647	8,014	6,570	5,450	5,619	5,078	3,747
Other income	221	210	207	208	152	154	209	223	193
Total expenses	9,470	9,139	8,051	6,578	5,413	4,706	4,728	4,270	3,263
EBITDA	1,935	1,893	1,919	1,711	1,415	1,007	1,111	915	576
EBITDA margin	17.6%	17.7%	19.9%	21.3%	21.5%	18.5%	19.8%	18.0%	15.4%
Finance costs	64.1	56.5	50.9	43.5	43.7	45.5	36.5	1.9	2.4
Depreciation	345	305	272	232	214	218	183	104	88.8
Profit before tax	1,675	1,741	1,804	1,644	1,309	897	1,100	1,031	678
Tax	445	477	498	470	349	231	278	263	171
Net profit	1,281	1,264	1,306	1,174	961	667	822	768	507
Net margin	11.7%	11.8%	13.5%	14.7%	14.6%	12.2%	14.6%	15.1%	13.5%
EPS (₹)	115.89	119.70	123.34	110.80	90.92	63.32	78.56	74.06	49.60
Net profit YoY	+1.4%	−3.3%	+11.3%	+22.2%	+44.1%	−19.0%	+7.0%	+51.7%	–

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	1,455	1,481	1,493	1,305	1,006
Investing cash flow	−443	−509	−233	−572	−448
Financing cash flow	−800	−718	−658	−443	−498
Capital expenditure	185	112	253	176	162
Free cash flow (CFO − capex)	1,270	1,370	1,240	1,130	844

Net profit trend

annual, ₹ crore

FY21

₹667

FY22

₹961+44%

FY23

₹1,174+22%

FY24

₹1,306+11%

FY25

₹1,264−3%

FY26

₹1,281+1%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	14 Jul 2026	PDF on NSE XBRL
Q1 FY27	Standalone	14 Jul 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	22 Apr 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	–	PDF on NSE XBRL
Q4 FY26	Standalone · audited	22 Apr 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	–	PDF on NSE XBRL
Q3 FY26	Consolidated	15 Jan 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	–	PDF on NSE XBRL
Q3 FY26	Standalone	–	PDF on NSE XBRL
Q3 FY26	Standalone	15 Jan 2026	PDF on NSE XBRL

Annual reports

NSE archive

FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 34.6×25.7×

P/B5Y avg 8.36×5.25×

ROEFY26, on average equity20.4%

Net margin11.7%

Debt / equity0.00×

Revenue CAGR (3Y)11.1%

Profit CAGR (3Y)2.9%

EPS (TTM)₹124.73

Market cap₹33,985 Cr

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

P/B vs history

5.25×

vs 8-point avg 8.36× (−37%)

5.11× low8.36× avg10.91× high

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

Balance sheet 31 Mar 2026

Total assets₹10,489 Cr+9%

Net worth₹6,473 Cr+6%

Total borrowings₹0 Cr

Cash & bank balances₹1,650 Cr+19%

Investments₹1,897 Cr+45%

Inventories₹6 Cr+49%

Trade receivables₹2,015 Cr−20%

Trade payables₹937 Cr−42%

Change vs the same date a year earlier.

Revenue mix FY26

Sustainability34.8%result ₹1,083 Cr

Tech33.3%result ₹382 Cr

Mobility31.9%result ₹535 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	73.52	73.57	73.58	73.58	73.59	73.66	73.66	73.69	73.69	73.74	73.75	73.77
FII	4.12	3.86	4.23	4.67	4.84	5.18	4.19	4.35	4.46	5.51	5.63	5.90
DII	14.05	14.64	14.57	14.13	13.88	13.68	14.30	13.96	13.31	12.33	11.57	11.01
of which MF	3.69	4.32	4.28	4.14	4.09	–	–	–	–	–	–	–
Retail	6.58	6.30	6.05	6.05	6.12	5.90	6.27	6.26	6.74	6.66	7.12	7.46
Other public	1.73	1.63	1.57	1.57	1.57	1.58	1.58	1.74	1.80	1.76	1.93	1.86

2,47,423 shareholders · NSE shareholding pattern filings.