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Quarterly results

consolidated · as filed with NSE · Q1 FY27 back to Q2 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	Q2 FY23	Q4 FY22	Q3 FY22	Q2 FY22	Q1 FY22	Q4 FY21	Q3 FY21	Q2 FY21	Q1 FY21	Q4 FY20	Q3 FY20	Q2 FY20	Q4 FY19	Q3 FY19	Q2 FY19
Revenue from operations	985	938	906	940	915	905	870	867	813	780	784	766	725	709	659	625	582	552	534	516	483	443	410	386	337	244	244	267	265	257
Other income	12	23.9	20.9	15.1	10.6	3.6	9.5	5	4.2	5.5	3.4	4.8	2.4	−0.4	6	6.9	17.9	5.7	7.7	4.7	3.2	3.9	4.1	16.7	17.5	9.6	9.1	6.9	6	8.7
Total expenses	859	813	785	821	805	795	757	755	718	691	686	676	627	613	573	540	476	448	433	415	389	352	337	332	287	217	221	237	237	233
EBITDA	151	151	146	146	137	139	141	143	124	125	134	123	127	126	114	107	121	116	113	113	106	104	86.6	68.1	58.2	33.6	28.7	35.3	34	31.3
EBITDA margin	15.4%	16.1%	16.1%	15.5%	15.0%	15.3%	16.2%	16.5%	15.2%	16.0%	17.0%	16.1%	17.5%	17.7%	17.3%	17.2%	20.8%	21.1%	21.1%	21.8%	21.9%	23.5%	21.1%	17.6%	17.3%	13.8%	11.8%	13.2%	12.8%	12.2%
Finance costs	6.6	7.2	7.4	8.6	8.8	9.6	11.9	11.1	9.4	9.2	13.3	12.6	9.3	9.3	8.2	5.3	2.5	1.6	1.9	1.7	1.8	1.8	2.1	2.5	1.1	0.8	0.9	1.1	1.4	2.4
Depreciation	18.3	18.5	17.9	17.9	18.4	18.7	16.6	19.9	20.1	27.5	21.8	20.9	19.7	19.6	19.6	17.1	12.2	10.6	10.4	9.7	10.2	11.7	11.6	11.4	7.7	5.8	5.6	4.3	4.3	4.8
Profit before tax	138	125	141	134	121	106	126	129	98.6	93.9	102	90.3	100	96.3	91.9	117	124	110	108	106	97.2	94.3	76.9	70.9	49.3	32	31.3	37.3	34.4	32.8
Tax	32.6	19.1	32.8	36.7	28.7	24.9	31	0.3	27.1	−0.6	24	25	26.8	23.7	24.8	31.1	35.7	26.4	26.7	25.8	21.5	24	17.7	24.3	10.4	6	6.6	10	7.8	7.7
Net profit	106	106	108	97.5	92.1	81.1	94.7	129	71.5	94.4	77.7	65.3	73.5	72.6	67.1	86.2	88.2	83.5	81.5	80.2	75.7	70.3	59.2	46.6	38.9	26	24.6	27.4	26.5	25.1
Net margin	10.7%	11.3%	12.0%	10.4%	10.1%	9.0%	10.9%	14.8%	8.8%	12.1%	9.9%	8.5%	10.1%	10.2%	10.2%	13.8%	15.2%	15.1%	15.3%	15.5%	15.7%	15.9%	14.4%	12.1%	11.6%	10.7%	10.1%	10.3%	10.0%	9.8%
EPS (₹)	34.16	34.25	34.97	31.48	29.75	26.24	30.68	41.69	23.18	29.94	24.57	20.52	22.95	23.89	21.34	26.31	26.74	24.81	27.78	27.43	24.14	23.22	20.81	16.62	14.03	10.79	10.26	11.47	11.12	10.55
Net profit YoY	+15.0%	+30.9%	+14.4%	−24.3%	+28.7%	−14.1%	+21.8%	+97.0%	−2.8%	+30.1%	+15.8%	−24.3%	–	−17.7%	−19.6%	+5.7%	+16.5%	+18.7%	+37.8%	+72.2%	+94.4%	+170.3%	+140.1%	–	+42.2%	−1.9%	−1.8%	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19
Revenue from operations	3,699	3,455	3,055	2,563	2,184	1,722	1,071	1,033
Other income	70.4	22.3	16	38.3	36.1	27.9	41.3	24.8
Total expenses	3,218	3,026	2,681	2,200	1,772	1,410	945	925
EBITDA	586	546	509	456	463	364	155	132
EBITDA margin	15.8%	15.8%	16.7%	17.8%	21.2%	21.2%	14.5%	12.7%
Finance costs	32	42.1	44.5	24.7	7.7	8.1	3.6	6.1
Depreciation	72.6	75.1	89.9	67.4	42.9	45	24.9	17.4
Profit before tax	521	459	386	427	448	339	144	133
Tax	117	83.2	75.2	117	115	87.6	30.3	31.9
Net profit	404	376	311	310	333	252	114	101
Net margin	10.9%	10.9%	10.2%	12.1%	15.3%	14.6%	10.6%	9.8%
EPS (₹)	130.45	121.78	98.01	97.23	106.52	84.92	45.21	42.61
Net profit YoY	+7.5%	+20.9%	+0.2%	−6.9%	+32.4%	+121.2%	+12.2%	–

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	542	395	420	107	273
Investing cash flow	−66.2	−275	−256	−737	−19.9
Financing cash flow	−300	−56.9	4.7	92.6	−128
Capital expenditure	28	20.1	31.5	31.5	36.5
Free cash flow (CFO − capex)	514	375	388	75.6	237

Net profit trend

annual, ₹ crore

FY21

₹252

FY22

₹333+32%

FY23

₹310−7%

FY24

₹311+0%

FY25

₹376+21%

FY26

₹404+7%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	21 Jul 2026	PDF on NSE XBRL
Q1 FY27	Standalone	21 Jul 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	17 Apr 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	17 Apr 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	21 Jan 2026	PDF on NSE XBRL
Q3 FY26	Standalone	21 Jan 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	16 Oct 2025	PDF XBRL
Q2 FY26	Standalone	16 Oct 2025	PDF XBRL
Q1 FY26	Consolidated	18 Jul 2025	PDF XBRL
Q1 FY26	Standalone	18 Jul 2025	PDF XBRL

Annual reports

NSE archive

FY2612.15 MB FY2511.66 MB FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 17.3×11.7×

P/B5Y avg 3.17×1.64×

ROEFY26, on average equity14.8%

Net margin10.9%

Debt / equity0.14×

Revenue CAGR (3Y)13.0%

Profit CAGR (3Y)9.2%

EPS (TTM)₹134.78

Market cap₹4,907 Cr

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

P/B vs history

1.64×

vs 8-point avg 3.17× (−48%)

1.39× low3.17× avg4.46× high

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

Balance sheet 31 Mar 2026

Total assets₹4,309 Cr+12%

Net worth₹2,992 Cr+22%

Total borrowings₹421 Cr−24%

Cash & bank balances₹704 Cr+53%

Investments₹234 Cr+31%

Inventories₹0 Cr

Trade receivables₹580 Cr−25%

Trade payables₹206 Cr−19%

Change vs the same date a year earlier.

Revenue mix FY26

UK & Europe operations65.2%result ₹476 Cr

North America operations22.4%result ₹50.7 Cr

AMEA12.4%result ₹22.8 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	35.76	35.76	35.77	35.79	35.95	35.97	36.22	36.23	36.25	36.26	36.47	36.50
FII	7.45	8.03	10.26	11.24	11.04	10.01	9.39	8.13	14.04	14.40	14.10	13.93
DII	19.86	19.03	12.65	11.53	10.52	9.85	9.28	10.41	7.11	7.06	6.41	5.99
of which MF	15.50	14.94	7.74	6.30	5.22	–	–	–	–	–	–	–
Retail	18.85	18.73	22.03	21.93	21.76	22.51	32.46	31.88	30.82	30.30	30.78	31.47
Other public	18.08	18.45	19.29	19.51	20.73	21.66	12.65	13.35	11.78	11.98	12.24	12.11

90,431 shareholders · NSE shareholding pattern filings.