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Quarterly results

consolidated · as filed with NSE · Q1 FY27 back to Q4 FY17

₹ 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	Q3 FY19	Q2 FY19	Q4 FY17
Revenue from operations	1,846	1,704	1,560	1,535	1,386	1,321	1,253	1,290	1,192	1,215	1,166	1,196	1,075	1,075	1,068	1,147	1,010	948	738	731	559	794	740	656	178	698	671	735	708	769	773	721
Other income	1.6	5.6	3.4	3	3.3	3.3	9.1	11.7	8.3	9.8	2	2	1.9	2.4	4.7	4.5	4.2	4.6	4.4	7.5	7.7	7.2	9.7	7.5	8.9	12.3	15	8.7	8.2	12.7	11.3	8.8
Total expenses	1,735	1,589	1,463	1,446	1,318	1,260	1,171	1,206	1,116	1,133	1,092	1,121	1,013	1,008	999	1,067	943	880	695	688	560	737	692	625	226	703	636	705	686	748	725	669
EBITDA	212	203	184	178	156	153	144	147	132	139	130	131	115	117	114	124	107	108	78.7	77.3	30.8	89	81.8	66.6	−20.3	38.5	76.1	68.4	67	54.8	82.3	81.8
EBITDA margin	11.5%	11.9%	11.8%	11.6%	11.3%	11.6%	11.5%	11.4%	11.1%	11.4%	11.1%	11.0%	10.7%	10.9%	10.7%	10.8%	10.6%	11.4%	10.7%	10.6%	5.5%	11.2%	11.1%	10.1%	-11.4%	5.5%	11.3%	9.3%	9.5%	7.1%	10.6%	11.4%
Finance costs	31.5	29.5	28.6	31	32.8	34.5	11.9	11.1	9.8	12.5	14.3	14.9	14.1	11.9	10.9	9.8	8.2	7.5	8.5	7.5	7.5	7.6	9.6	11	7.7	13.8	11	10.1	15.1	12.5	12.4	10.6
Depreciation	68.8	58.7	57.7	57.1	56.1	56.8	50.4	51.2	45.9	43.6	41.7	41.4	39	38.6	34	33.8	31.7	32.9	27	27	25.1	24.2	24.4	24.8	20.3	30.2	29.8	27.8	30.1	21.5	21.7	19.6
Profit before tax	237	123	96.5	92.8	70.7	64.9	90.4	95.9	84.4	92.3	75.8	77	63.4	68.9	73.9	84.7	71	71.9	80.4	50.3	5.9	64.4	57.5	38.3	−39.4	−286	50.3	39.3	30	51.1	59.5	60.5
Tax	48.6	30.9	31.6	25.3	18.6	23.2	26	25.2	22.1	22.7	25	18.7	16.9	−55.1	19.5	21.6	18.1	−3.6	12.6	13.6	1.4	15.6	13.7	10.8	−8.9	15.3	13.4	5	11.7	15.4	21.1	17.1
Net profit	206	124	84.3	84.6	65.3	52	64.8	74.3	64.2	70.8	52.5	58.8	45.2	122	52.3	57.8	52.5	75.9	69.9	39.1	7.1	12.9	49.5	25.8	−35.4	−300	41.6	37.2	21.2	46.2	44.6	38.7
Net margin	11.2%	7.3%	5.4%	5.5%	4.7%	3.9%	5.2%	5.8%	5.4%	5.8%	4.5%	4.9%	4.2%	11.3%	4.9%	5.0%	5.2%	8.0%	9.5%	5.3%	1.3%	1.6%	6.7%	3.9%	-19.9%	-43.0%	6.2%	5.1%	3.0%	6.0%	5.8%	5.4%
EPS (₹)	8.75	5.29	3.64	3.60	2.78	2.21	2.75	3.16	2.73	3.01	2.23	2.50	1.92	5.19	2.22	2.46	2.23	3.23	1.58	1.66	0.30	2.33	2.20	1.16	-1.63	-13.47	1.87	1.67	0.95	2.08	2.01	1.85
Net profit YoY	+215.8%	+138.3%	+30.0%	+13.9%	+1.7%	−26.5%	+23.5%	+26.5%	+42.0%	−42.0%	+0.4%	+1.7%	−13.9%	+60.7%	−25.2%	+48.0%	+638.3%	+487.2%	+41.2%	+51.3%	+120.1%	+104.3%	+18.9%	−30.5%	−267.0%	–	−10.0%	−16.7%	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY17
Revenue from operations	6,185	5,056	4,651	4,300	2,976	2,368	2,813	552
Other income	15.2	32.4	15.7	15.8	24.2	33.2	44.3	10.2
Total expenses	5,816	4,753	4,358	4,017	2,824	2,280	2,731	535
EBITDA	721	575	514	461	295	217	250	38.4
EBITDA margin	11.7%	11.4%	11.1%	10.7%	9.9%	9.2%	8.9%	7.0%
Finance costs	122	67.2	55.9	40.7	30.9	35.8	49.9	6.9
Depreciation	230	204	166	138	112	93.6	118	14.2
Profit before tax	383	336	308	298	208	121	−167	27.4
Tax	106	96.5	83.2	4.1	24	31.2	45.4	2.2
Net profit	358	255	227	285	192	52.8	−200	16.3
Net margin	5.8%	5.1%	4.9%	6.6%	6.4%	2.2%	-7.1%	3.0%
EPS (₹)	15.31	10.85	9.65	12.09	8.16	4.13	-8.98	0.78
Net profit YoY	+40.3%	+12.4%	−20.1%	+48.3%	+263.4%	+126.4%	–	–

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	676	544	287	598	167
Investing cash flow	−383	−1,409	117	−640	−7.3
Financing cash flow	−267	789	−359	75.2	−143
Capital expenditure	394	350	252	251	109
Free cash flow (CFO − capex)	281	194	34.8	348	58.3

Net profit trend

annual, ₹ crore

FY21

₹52.8

FY22

₹192+263%

FY23

₹285+48%

FY24

₹227−20%

FY25

₹255+12%

FY26

₹358+40%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	13 Aug 2026	PDF on NSE XBRL
Q1 FY27	Standalone	13 Aug 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	22 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	22 May 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	5 Feb 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	–	PDF on NSE XBRL
Q3 FY26	Standalone	5 Feb 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	6 Nov 2025	PDF on NSE XBRL
Q2 FY26	Standalone	6 Nov 2025	PDF on NSE XBRL
Q1 FY26	Consolidated	12 Aug 2025	PDF on NSE XBRL

Annual reports

NSE archive

FY2619.27 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 36.6×32.5×

P/B5Y avg 4.86×6.14×

ROEFY26, on average equity14.8%

Net margin5.8%

Debt / equity0.46×

Revenue CAGR (3Y)12.9%

Profit CAGR (3Y)8.0%

EPS (TTM)₹20.88

Market cap₹16,231 Cr

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

P/B vs history

6.14×

vs 8-point avg 4.86× (+26%)

3.23× low4.86× avg6.85× high

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

Balance sheet 31 Mar 2026

Total assets₹5,495 Cr+13%

Net worth₹2,644 Cr+20%

Total borrowings₹1,212 Cr−10%

Cash & bank balances₹103 Cr+35%

Investments₹1,558 Cr+6%

Inventories₹710 Cr+22%

Trade receivables₹995 Cr+20%

Trade payables₹1,143 Cr+38%

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	64.84	64.84	64.84	64.84	64.84	64.84	64.84	64.84	64.84	64.84	64.84	64.84
FII	9.30	8.80	9.09	8.73	8.83	8.33	7.99	7.62	6.07	5.08	3.73	5.53
DII	17.87	18.83	18.43	18.52	18.17	18.48	18.42	18.86	20.63	20.60	16.81	13.19
of which MF	14.74	15.15	14.56	14.58	14.65	15.09	–	–	–	–	–	–
Retail	4.48	4.18	4.29	4.51	4.69	4.72	5.03	4.86	4.69	5.54	10.30	11.41
Other public	1.95	1.79	1.79	1.84	1.90	2.06	2.13	2.23	2.18	2.35	2.69	3.38

98,747 shareholders · NSE shareholding pattern filings.