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Quarterly results

standalone · 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	Q3 FY19	Q2 FY19	Q4 FY18
Revenue from operations	300	238	198	210	241	203	191	191	197	177	165	170	186	185	155	183	208	178	160	160	134	161	134	119	65.3	106	101	114	95.9	98.3	92.4
Other income	0.6	0.2	0.2	0.4	0.6	0.8	0.2	0.6	1	0.3	0.1	0.5	0.6	0.8	0.4	0.2	0.1	1.1	0.2	0.2	0.1	0.2	0.1	0.2	0.1	0.4	0	0.2	0.4	0.6	0.1
Total expenses	267	210	180	189	212	181	173	173	175	154	147	150	162	159	135	157	179	154	138	137	117	137	113	101	63.3	94.9	89	101	84.1	86.2	79.9
EBITDA	55.9	47.9	38.4	39.1	46.8	38.3	33.8	33.6	35.7	35.5	30.3	32.1	35	35.6	28.4	34.1	37.2	31.8	31.6	32	25.2	33.2	27.8	25.8	9.1	19.1	19.2	21	17.3	17.1	17
EBITDA margin	18.6%	20.1%	19.4%	18.6%	19.4%	18.9%	17.7%	17.5%	18.2%	20.1%	18.3%	18.9%	18.8%	19.3%	18.4%	18.7%	17.9%	17.9%	19.7%	20.1%	18.9%	20.6%	20.8%	21.7%	13.9%	17.9%	19.1%	18.4%	18.0%	17.4%	18.4%
Finance costs	5.7	4.8	4.4	4.2	4.2	4	3.4	3.5	2.9	2.2	1.9	1.8	1.5	1.3	0.8	0.8	1	1.1	2.8	2.8	2.6	2.9	2.5	2.4	2.2	2.6	2.6	2.6	1.8	1.6	1.3
Depreciation	16.5	15.5	15.2	14.5	14	12.8	12.4	11.9	11.6	10	9.5	9.6	9.4	8.2	7.5	7.4	7.1	6.9	6.9	6.5	6.2	5.8	5.3	5.5	4.9	4.9	4.9	4.8	3.7	3.5	3.2
Profit before tax	34.2	27.8	19.1	20.8	30	22.2	18.2	18.7	22.2	23.6	19	21.3	24.8	26.9	20.6	26.1	29.2	24.8	22.2	23	16.6	23.6	20.1	18.1	2.1	10.4	11.2	13.2	12.2	12.7	12.6
Tax	8.6	7.2	4.7	5.3	7.6	6	4.5	4.6	5.7	5.6	4.8	5.6	6	3.9	4.3	6.7	7.4	7.5	5.5	5.4	4.5	5.6	5.1	4.6	0.6	2.4	2.3	2.6	3.6	4.3	4.9
Net profit	25.6	20.6	14.4	15.5	22.4	16.3	13.6	14.1	16.5	18	14.2	15.7	18.7	23	16.3	19.4	21.7	17.3	16.7	17.6	12.1	18	15	13.5	1.6	8	8.8	10.5	8.7	8.4	7.7
Net margin	8.5%	8.7%	7.2%	7.4%	9.3%	8.0%	7.2%	7.4%	8.4%	10.2%	8.6%	9.2%	10.1%	12.4%	10.5%	10.6%	10.4%	9.7%	10.4%	11.0%	9.0%	11.2%	11.2%	11.3%	2.4%	7.5%	8.8%	9.2%	9.0%	8.5%	8.4%
EPS (₹)	7.70	6.21	4.32	4.66	6.74	4.90	4.11	4.25	4.97	5.41	4.28	4.73	5.65	6.94	4.92	5.86	6.69	5.68	5.80	6.23	4.32	6.19	5.28	4.87	0.57	2.88	3.18	3.80	3.12	3.02	2.80
Net profit YoY	+14.2%	+26.9%	+5.2%	+9.7%	+35.5%	−9.5%	−3.9%	−10.0%	−11.8%	−21.9%	−13.0%	−19.2%	−13.7%	+32.8%	−2.1%	+10.4%	+79.7%	−3.9%	+11.1%	+30.3%	+670.8%	+125.5%	+70.0%	+28.3%	–	–	+1.9%	+25.6%	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY18
Revenue from operations	887	781	699	730	631	479	437	350
Other income	1.3	2.2	1.3	1.4	1.6	0.6	1.2	1.1
Total expenses	791	702	611	629	547	414	387	303
EBITDA	172	142	133	135	121	96	80	63.5
EBITDA margin	19.4%	18.1%	19.1%	18.6%	19.1%	20.0%	18.3%	18.1%
Finance costs	17.5	13.9	7.3	3.9	9.3	9.9	10.2	4.1
Depreciation	59.2	48.7	38.5	30.2	26.4	21.5	19.1	11.8
Profit before tax	97.7	81.3	88.6	103	86.5	64.1	49.1	48.6
Tax	24.9	20.7	22	22.3	22.9	16	10.9	16.9
Net profit	72.9	60.6	66.6	80.4	63.7	48.1	38.2	31.7
Net margin	8.2%	7.8%	9.5%	11.0%	10.1%	10.0%	8.7%	9.0%
EPS (₹)	21.93	18.22	20.07	24.40	22.12	16.86	13.78	11.44
Net profit YoY	+20.3%	−9.1%	−17.2%	+26.4%	+32.4%	+25.9%	–	–

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	FY22
Operating cash flow	125	110	78.8	159	2.1
Investing cash flow	−134	−136	−143	−148	−54.8
Financing cash flow	7.8	25.5	59.5	−9.9	56.5
Capital expenditure	119	143	133	141	52.3
Free cash flow (CFO − capex)	6.6	−33	−53.8	18.3	−50.2

Net profit trend

annual, ₹ crore

FY21

₹48.1

FY22

₹63.7+32%

FY23

₹80.4+26%

FY24

₹66.6−17%

FY25

₹60.6−9%

FY26

₹72.9+20%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Standalone	27 Jul 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	11 May 2026	PDF on NSE XBRL
Q3 FY26	Standalone	9 Feb 2026	PDF on NSE XBRL
Q2 FY26	Standalone	29 Oct 2025	PDF on NSE XBRL
Q1 FY26	Standalone	28 Jul 2025	PDF on NSE XBRL
Q4 FY25	Standalone · audited	19 May 2025	PDF on NSE XBRL
Q3 FY25	Standalone	7 Feb 2025	PDF on NSE XBRL
Q2 FY25	Standalone	7 Nov 2024	PDF on NSE XBRL
Q1 FY25	Standalone	2 Aug 2024	PDF on NSE XBRL
Q4 FY24	Standalone · audited	30 May 2024	PDF on NSE XBRL

Annual reports

NSE archive

FY2517.99 MB FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17 FY16

Key ratios

P/E (TTM)5Y avg 30.3×29.3×

P/B5Y avg 4.12×3.23×

ROEFY26, on average equity11.0%

Net margin8.2%

Debt / equity0.31×

Revenue CAGR (3Y)6.7%

Profit CAGR (3Y)-3.2%

EPS (TTM)₹22.88

Market cap₹2,226 Cr

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

P/B vs history

3.23×

vs 8-point avg 4.12× (−22%)

2.19× low4.12× avg5.94× high

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

Balance sheet 31 Mar 2026

Total assets₹1,058 Cr+13%

Net worth₹690 Cr+8%

Total borrowings₹215 Cr+22%

Cash & bank balances₹0 Cr−66%

Investments₹22 Cr−29%

Inventories₹157 Cr+22%

Trade receivables₹176 Cr+30%

Trade payables₹81 Cr+83%

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	33.21	33.19	33.07	33.08	33.08	33.03	32.90	32.69	32.76	32.76	32.86	33.09
FII	8.30	9.69	10.36	10.93	10.68	10.96	12.14	13.12	14.44	14.14	16.03	17.82
DII	21.81	20.95	20.12	19.80	19.65	20.08	22.04	23.67	22.76	22.26	19.22	18.49
of which MF	19.02	18.74	18.01	18.43	18.50	–	–	–	–	–	–	–
Retail	29.65	29.70	30.00	29.82	30.38	29.86	26.94	25.02	24.69	25.14	26.37	25.46
Other public	7.03	6.47	6.45	6.37	6.21	6.07	5.98	5.50	5.35	5.70	5.52	5.14

62,239 shareholders · NSE shareholding pattern filings.