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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	841	856	754	720	620	70.8	682	642	591	560	586	531	500	486	480	453	434	418	363	361	349	330	358	356	331	335	288	256	245	247	248	269	235	913
Other income	25.4	35.2	20.1	21.6	5.6	1.7	27.8	11.1	14.9	16.5	4.8	19	10.1	11	17.7	14.2	16.5	15.3	12.1	8.6	5.9	6	−3.2	3.7	0.2	0	0	7.9	2.2	9.7	0.2	−0.8	3.2	0.4
Total expenses	660	691	624	609	549	60.9	566	528	486	476	478	436	413	393	418	389	374	381	314	310	280	239	278	294	270	278	249	231	220	240	219	241	208	863
EBITDA	213	195	161	144	100	12.6	139	136	128	110	133	114	102	110	76.6	80.3	72.9	63.6	57.8	60.1	77.3	95.4	91.1	83.2	70	69.2	47.3	33.6	32.4	15.6	36.2	37.1	35.5	86.5
EBITDA margin	25.3%	22.8%	21.3%	20.1%	16.1%	17.8%	20.4%	21.1%	21.7%	19.6%	22.7%	21.4%	20.4%	22.5%	16.0%	17.7%	16.8%	15.2%	15.9%	16.6%	22.2%	28.9%	25.4%	23.3%	21.1%	20.6%	16.4%	13.1%	13.2%	6.3%	14.6%	13.8%	15.1%	9.5%
Finance costs	7	6.3	5.9	5.8	6.1	0.3	2.7	2.6	2.9	4.8	3.2	1.6	1.6	2.4	2.4	2.5	1.8	5	1	1.5	1	2.8	1.7	1.9	1.6	2	1.6	2.8	2.3	2.4	1.8	3.1	2.4	10.2
Depreciation	24.9	24.3	24.3	26.9	23.1	2.3	20.7	19.5	20.4	21.1	22	17.6	13.7	13.9	12.7	14.1	11.1	21.4	8.6	7.4	7.5	1.3	8.6	19	7.2	9.6	7.3	5	4.7	6.3	5	5.5	6	26.8
Profit before tax	207	200	151	133	76.6	11.6	143	125	120	100	113	114	96.8	104	79.2	77.8	76.4	52.6	60.4	59.8	74.8	97.2	77.6	65.9	61.4	57.6	38.3	33.7	27.6	16.7	29.6	27.7	30.4	49.8
Tax	47.2	51	36.9	34.2	18.4	2.5	38.2	26.8	31	22.6	29.7	29.9	26.4	21.5	16.9	17.7	16.3	22.9	12.1	13.5	12.2	17.7	18.7	15.2	12	14.8	8.8	7.7	5.1	6.8	4.4	7.2	5.5	14
Net profit	159	149	114	99.1	58.2	9.1	105	97.8	89.1	77.6	83	83.9	70.4	82.7	62.3	60.1	60.2	29.7	48.3	46.3	62.6	79.5	58.9	50.7	49.4	42.7	29.6	26	22.5	9.9	25.1	20.6	24.9	35.8
Net margin	19.0%	17.4%	15.1%	13.8%	9.4%	12.8%	15.4%	15.2%	15.1%	13.9%	14.2%	15.8%	14.1%	17.0%	13.0%	13.3%	13.9%	7.1%	13.3%	12.8%	17.9%	24.1%	16.4%	14.2%	14.9%	12.7%	10.3%	10.1%	9.2%	4.0%	10.1%	7.6%	10.6%	3.9%
EPS (₹)	3.47	3.27	2.50	2.17	1.29	2.00	2.31	2.13	1.96	1.73	1.84	1.84	1.52	1.97	1.56	1.52	1.46	0.69	1.20	1.11	1.51	1.93	1.42	1.21	1.20	1.00	0.71	0.63	0.52	0.21	0.60	0.48	0.58	0.80
Net profit YoY	+173.9%	+1542.7%	+8.2%	+1.4%	−34.7%	−88.3%	+26.6%	+16.6%	+26.4%	−6.1%	+33.2%	+39.5%	+17.0%	+178.9%	+29.1%	+29.9%	−3.9%	−62.7%	−18.1%	−8.8%	+26.8%	+86.0%	+99.4%	+95.4%	+119.6%	+333.8%	+17.6%	+26.2%	−9.6%	−72.5%	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Revenue from operations	2,951	262	2,177	1,852	1,491	1,376	1,134	1,000	767
Other income	82.5	7	50.4	59.3	41.9	6.7	0.3	4.6	7
Total expenses	2,473	219	1,804	1,574	1,285	1,081	977	900	759
EBITDA	601	52.9	459	339	259	340	192	132	44.7
EBITDA margin	20.4%	20.2%	21.1%	18.3%	17.4%	24.7%	17.0%	13.2%	5.8%
Finance costs	24.1	1.2	11.2	9.1	8.4	8	8.7	9.7	6.8
Depreciation	98.6	8.3	74.3	51.9	44.8	36.2	26.7	22.8	30.1
Profit before tax	561	50.4	424	338	248	302	157	104	14.9
Tax	140	12.1	109	72.3	60.7	63.6	36.4	23.9	3.6
Net profit	420	38.3	315	265	187	239	121	80.4	11.3
Net margin	14.2%	14.6%	14.5%	14.3%	12.5%	17.3%	10.6%	8.0%	1.5%
EPS (₹)	9.22	8.40	6.92	6.41	4.51	5.76	2.86	1.87	0.22
Net profit YoY	+997.9%	−87.8%	+18.7%	+42.0%	−21.7%	+97.5%	+50.1%	+609.6%	–

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	458	20.7	230	237	99.3
Investing cash flow	−248	−4.9	−141	−259	−41.7
Financing cash flow	−70.9	−6.5	−68.7	198	79.5
Capital expenditure	131	17.3	209	53.6	46.3
Free cash flow (CFO − capex)	328	3.4	21.6	184	52.9

Net profit trend

annual, ₹ crore

FY21

₹239

FY22

₹187−22%

FY23

₹265+42%

FY24

₹315+19%

FY25

₹38.3−88%

FY26

₹420+998%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	12 Aug 2026	PDF on NSE XBRL
Q1 FY27	Standalone	12 Aug 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	26 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	26 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	13 Nov 2025	PDF on NSE XBRL
Q2 FY26	Standalone	13 Nov 2025	PDF on NSE XBRL
Q1 FY26	Consolidated	12 Aug 2025	PDF on NSE XBRL
Q1 FY26	Standalone	12 Aug 2025	PDF on NSE XBRL

Annual reports

NSE archive

FY267.60 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 78.6×29.3×

P/B5Y avg 7.68×5.05×

ROEFY26, on average equity25.7%

Net margin14.2%

Debt / equity0.01×

Revenue CAGR (3Y)16.8%

Profit CAGR (3Y)16.6%

EPS (TTM)₹11.50

Market cap₹15,269 Cr

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

P/B vs history

5.05×

vs 8-point avg 7.68× (−34%)

1.67× low7.68× avg40.87× high

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

Balance sheet 31 Mar 2026

Total assets₹3,861 Cr+1092%

Net worth₹3,023 Cr+1125%

Total borrowings₹30 Cr+1182%

Cash & bank balances₹634 Cr+1179%

Investments₹0 Cr−100%

Inventories₹972 Cr+1050%

Trade receivables₹645 Cr+1094%

Trade payables₹337 Cr+1002%

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	43.87	43.87	43.87	43.87	43.87	43.87	43.87	43.87	43.87	43.85	43.85	43.85
FII	17.47	16.76	16.74	16.92	19.88	22.20	21.96	21.31	18.60	15.57	15.56	15.07
DII	6.19	6.57	5.91	5.28	5.50	4.56	4.30	4.10	3.75	5.17	4.76	4.02
of which MF	4.36	4.66	4.41	3.92	3.55	–	–	–	–	–	–	–
Retail	28.05	28.33	28.98	29.53	26.74	25.78	26.24	26.76	29.47	30.91	30.80	32.12
Other public	4.42	4.47	4.50	4.40	4.01	3.59	3.63	3.96	4.31	4.50	5.03	4.94

2,46,635 shareholders · NSE shareholding pattern filings.