Quarterly results
consolidated · as filed with NSE · Q1 FY27 back to Q2 FY22
| ₹ 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 543 | 474 | 509 | 577 | 614 | 553 | 569 | 544 | 414 | 410 | 352 | 379 | 426 | 574 | 549 | 646 | 812 | 640 | 548 |
| Other income | 11.9 | 37.2 | 14.8 | 27.8 | 16.6 | 13.9 | 9.1 | 12 | 8.9 | 8.9 | 9.6 | 12.1 | 7 | 8.6 | 24 | 25.9 | 26.6 | 26.3 | 15 |
| Total expenses | 488 | 504 | 519 | 579 | 606 | 537 | 570 | 565 | 442 | 433 | 409 | 407 | 476 | 535 | 558 | 583 | 702 | 574 | 481 |
| EBITDA | 97.9 | 19.7 | 37.7 | 52.1 | 66.9 | 65.5 | 40.8 | 30.6 | 5.9 | 2 | −7.8 | 7.6 | −22.1 | 77.9 | 52.9 | 78.4 | 134 | 78.4 | 78.3 |
| EBITDA margin | 18.0% | 4.2% | 7.4% | 9.0% | 10.9% | 11.8% | 7.2% | 5.6% | 1.4% | 0.5% | -2.2% | 2.0% | -5.2% | 13.6% | 9.6% | 12.1% | 16.5% | 12.2% | 14.3% |
| Finance costs | 13.1 | 20.5 | 18.1 | 23.8 | 29.5 | 19.3 | 12.9 | 26.2 | 10.6 | 2.5 | 26.6 | 12.8 | 4.5 | 15.8 | 43.3 | −2.8 | 6.8 | −3.3 | −3.5 |
| Depreciation | 29.8 | 29.3 | 29.9 | 30 | 29.7 | 29.5 | 29.7 | 25.5 | 23.5 | 22.8 | 23.1 | 22.7 | 23.6 | 22.6 | 18.1 | 18.3 | 17.4 | 15.3 | 14.6 |
| Profit before tax | 67 | 7.2 | 4.5 | 26.1 | 24.3 | 30.5 | 7.4 | −9.2 | −19.3 | −14.3 | −47.9 | −15.8 | −43.1 | 67 | 15.4 | 88.7 | 136 | 92.7 | 88.3 |
| Tax | 18.8 | −0.9 | 8 | 14.5 | 11.6 | 10.7 | 11.8 | 0.1 | −2.6 | 3.6 | −9.7 | −0.4 | −8.6 | 12.8 | 7.1 | 22.6 | 33.9 | 24.3 | 23 |
| Net profit | 48.2 | 8 | −3.5 | 11.6 | 12.7 | 19.8 | −4.4 | −9.3 | −16.8 | −18 | −38.2 | −15.3 | −34.5 | 54.1 | 8.4 | 66.1 | 102 | 68.4 | 65.3 |
| Net margin | 8.9% | 1.7% | -0.7% | 2.0% | 2.1% | 3.6% | -0.8% | -1.7% | -4.0% | -4.4% | -10.9% | -4.1% | -8.1% | 9.4% | 1.5% | 10.2% | 12.6% | 10.7% | 11.9% |
| EPS (₹) | 1.90 | 0.32 | -0.14 | 0.45 | 0.50 | 0.78 | -0.17 | -0.36 | -0.25 | -0.71 | -1.50 | -0.60 | -1.36 | 2.13 | 0.33 | 2.60 | 4.02 | 2.69 | 2.57 |
| Net profit YoY | +280.0% | −59.5% | +19.7% | +224.7% | +175.7% | +210.3% | +88.5% | +39.6% | +51.4% | −133.2% | −557.6% | −123.2% | – | −47.0% | −87.8% | +1.4% | – | – | – |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY26 | FY25 | FY24 | FY23 | FY23 | FY22 |
|---|---|---|---|---|---|---|
| Revenue from operations | 2,174 | 2,080 | 1,566 | 2,553 | 1,429 | 2,498 |
| Other income | 96.4 | 43.9 | 37.7 | 96 | 63.5 | 96.2 |
| Total expenses | 2,208 | 2,114 | 1,725 | 2,354 | 1,262 | 2,192 |
| EBITDA | 176 | 143 | −20.3 | 341 | 210 | 379 |
| EBITDA margin | 8.1% | 6.9% | -1.3% | 13.4% | 14.7% | 15.1% |
| Finance costs | 91.9 | 69 | 46.4 | 65.7 | 6.6 | 9.4 |
| Depreciation | 119 | 108 | 92.2 | 77.1 | 36.4 | 62.7 |
| Profit before tax | 62 | 9.5 | −121 | 313 | 231 | 409 |
| Tax | 33.3 | 20.1 | −15.2 | 75.4 | 55.5 | 104 |
| Net profit | 28.7 | −10.6 | −106 | 238 | 175 | 304 |
| Net margin | 1.3% | -0.5% | -6.8% | 9.3% | 12.3% | 12.2% |
| EPS (₹) | 1.13 | -0.42 | -4.17 | 9.35 | 6.89 | 11.97 |
| Net profit YoY | +371.1% | +90.0% | −144.6% | −21.9% | – | – |
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 | FY23 | FY22 |
|---|---|---|---|---|---|---|
| Operating cash flow | 222 | 66.2 | 250 | 204 | 135 | 64.8 |
| Investing cash flow | −38.3 | 31 | −178 | −418 | −257 | −133 |
| Financing cash flow | −190 | −91.4 | −85.5 | 234 | 131 | 57.7 |
| Capital expenditure | 45.1 | 88.9 | 266 | 465 | 244 | 244 |
| Free cash flow (CFO − capex) | 177 | −22.7 | −16.5 | −261 | −109 | −179 |
Net profit trend
annual, ₹ croreFY22
₹304
FY23
₹175−42%
FY23
₹238+36%
FY24
₹−106−145%
FY25
₹−10.6+90%
FY26
₹28.7+371%
Result filings
as filed with NSE · PDF and XBRL| Period | Basis | Filed | Documents |
|---|---|---|---|
| Q1 FY27 | Consolidated | 29 Jul 2026 | PDF on NSE XBRL |
| Q1 FY27 | Standalone | 29 Jul 2026 | PDF on NSE XBRL |
| Q4 FY26 | Consolidated · audited | 14 May 2026 | PDF on NSE XBRL |
| Q4 FY26 | Standalone · audited | 14 May 2026 | PDF on NSE XBRL |
| Q3 FY26 | Consolidated | 31 Jan 2026 | PDF on NSE XBRL |
| Q3 FY26 | Standalone | 31 Jan 2026 | PDF on NSE XBRL |
| Q2 FY26 | Consolidated | 8 Nov 2025 | PDF on NSE XBRL |
| Q2 FY26 | Standalone | 8 Nov 2025 | PDF on NSE XBRL |
| Q1 FY26 | Consolidated | 30 Jul 2025 | PDF on NSE XBRL |
| Q1 FY26 | Standalone | 30 Jul 2025 | PDF on NSE XBRL |
Annual reports
NSE archiveKey ratios
P/E (TTM)5Y avg 19.4×23.2×
P/B5Y avg 1.30×0.96×
ROEFY26, on average equity1.9%
Net margin1.3%
Debt / equity0.47×
Revenue CAGR (3Y)-5.2%
Profit CAGR (3Y)-50.6%
EPS (TTM)₹2.53
Market cap₹1,488 Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
0.96×
vs 8-point avg 1.30× (−26%)
0.60× low1.30× avg1.90× high
History points are balance-sheet dates (2022 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹3,021 Cr−2%
Net worth₹1,545 Cr+2%
Total borrowings₹726 Cr−12%
Cash & bank balances₹16 Cr−30%
Investments₹5 Cr+43%
Inventories₹529 Cr−12%
Trade receivables₹672 Cr+19%
Trade payables₹540 Cr−2%
Change vs the same date a year earlier.
Revenue mix FY26
Agrochemicals73.1%result ₹243 Cr
Pigment23.8%result ₹−59 Cr
Others3.1%result ₹0.6 Cr
Segment revenue as reported, before inter-segment eliminations.