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Quarterly results

standalone · 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	Q2 FY23	Q1 FY23	Q4 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 FY18	Q4 FY17
Revenue from operations	622	540	500	785	1,048	1,049	926	850	722	579	462	414	554	457	528	780	721	511	360	372	312	351	55.2	308	366	390	460	389	340	371	357	387
Other income	2.4	9.4	1.4	1.8	1.5	1.6	1.9	1.9	2.2	25.8	1.4	4	3.4	5.8	0.6	3.4	6.5	6.4	1.9	1.8	6.3	14.9	0.5	15.8	1.3	3.3	4	0.8	2.8	7.1	2.6	11.9
Total expenses	615	534	497	778	1,034	1,036	919	841	713	566	450	408	556	459	525	767	709	486	347	356	315	393	80.6	339	364	391	462	379	341	363	354	392
EBITDA	24.4	13	21	23.4	32.4	34.4	29	32.5	32.2	39	32.3	26.7	20.3	23.4	23.1	37.9	32.1	47.2	33	50.4	26.4	−10.5	−0.6	2.4	32.2	27.1	37.4	36.2	35.9	31.3	46.7	41.3
EBITDA margin	3.9%	2.4%	4.2%	3.0%	3.1%	3.3%	3.1%	3.8%	4.5%	6.7%	7.0%	6.4%	3.7%	5.1%	4.4%	4.9%	4.4%	9.2%	9.2%	13.5%	8.5%	-3.0%	-1.2%	0.8%	8.8%	6.9%	8.1%	9.3%	10.6%	8.4%	13.1%	10.7%
Finance costs	4.9	−3.5	6.7	6.9	7.5	9.1	8.6	9.5	9.6	14.6	10.5	10.3	11.8	17.4	12.9	11.8	7.5	12.4	11.4	12.5	7.9	12.9	9	11.5	10.6	9.4	11.5	6.7	13.7	−7.5	14.1	15
Depreciation	11.6	10.9	11.7	10	11.6	12.4	13.6	13.6	13.6	11.4	9.8	9.7	9.7	8.1	7.6	13.3	12.1	9.9	8.6	21.8	21.9	18.9	15.8	21.4	19.8	19.1	27.4	19.5	23.7	31.6	29.5	31.9
Profit before tax	10.3	15	4.1	8.3	14.8	14.5	8.6	11.4	11.3	38.8	13.5	10.6	2.2	3.7	3.2	16.3	19	31.3	14.9	17.8	3	−27.3	−25	−14.7	3.1	1.9	2.5	10.8	1.3	14.2	5.6	6.3
Tax	−4.5	5.5	1.1	−1.1	3.6	3.9	2.1	2.6	3.8	11.7	5.5	2.4	0.5	0.7	2.6	5.7	3.6	9	4.5	2.6	0	−9.6	−5.7	−5.8	1.4	−0.3	−0.7	8.1	−3.6	6.3	0.3	5.6
Net profit	14.8	9.5	3	9.4	11.2	10.6	6.6	8.8	7.5	27.1	8	8.2	1.7	3	0.6	10.6	15.4	22.2	10.4	15.3	3	−17.7	−19.3	−7.6	1.7	2.2	3.2	4.1	4.8	7.9	5.2	0.8
Net margin	2.4%	1.8%	0.6%	1.2%	1.1%	1.0%	0.7%	1.0%	1.0%	4.7%	1.7%	2.0%	0.3%	0.7%	0.1%	1.4%	2.1%	4.4%	2.9%	4.1%	1.0%	-5.0%	-35.0%	-2.5%	0.5%	0.6%	0.7%	1.0%	1.4%	2.1%	1.5%	0.2%
EPS (₹)	0.10	0.07	0.02	0.07	0.08	0.07	0.05	0.06	0.52	1.88	0.55	0.57	0.12	0.21	0.04	0.73	1.07	4.63	2.17	3.18	0.63	-3.68	-4.02	-1.58	0.35	0.46	0.67	0.85	-0.26	1.65	1.09	0.16
Net profit YoY	+32.1%	−10.6%	−54.8%	+7.6%	+49.5%	−60.8%	−17.3%	+7.0%	+339.1%	+793.5%	–	+1292.4%	−83.8%	−80.3%	−97.4%	+1.4%	+1.2%	+225.6%	+153.9%	+301.1%	+83.5%	−902.3%	−701.1%	−286.3%	−65.7%	−72.2%	–	–	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY17
Revenue from operations	2,872	3,547	2,010	2,027	2,176	1,090	1,524	1,456	382
Other income	14.2	7.6	34.6	11.6	18.6	23.5	24.4	13.3	19.5
Total expenses	2,844	3,508	1,980	2,033	2,102	1,145	1,556	1,437	372
EBITDA	89.9	128	118	84.4	160	65.7	99.2	150	58.3
EBITDA margin	3.1%	3.6%	5.9%	4.2%	7.4%	6.0%	6.5%	10.3%	15.3%
Finance costs	17.7	36.7	47.2	53.4	42.1	42.3	43	27	12.5
Depreciation	44.2	53.2	40.6	37.2	44.5	78.4	87.7	104	35.6
Profit before tax	42.3	45.9	65.1	5.4	92.3	−31.4	−7.2	32.1	29.7
Tax	9.1	12.4	20.2	4.6	24.5	−12.7	−5.4	11.1	−2.9
Net profit	33.1	33.5	45	0.8	67.8	−18.7	−0.5	22.3	32.1
Net margin	1.2%	0.9%	2.2%	0.0%	3.1%	-1.7%	-0.0%	1.5%	8.4%
EPS (₹)	0.23	0.23	3.12	0.06	4.70	-3.90	-0.11	4.59	6.69
Net profit YoY	−1.1%	−25.5%	+5496.7%	−98.8%	+462.3%	−3589.1%	−102.3%	–	–

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	144	95.1	230	141	101
Investing cash flow	5.8	9.6	−49.8	−21.1	−55.4
Financing cash flow	−149	−117	−169	−145	−34.7
Capital expenditure	5.3	8.4	44.4	17.5	−52.5
Free cash flow (CFO − capex)	139	86.7	186	123	48.9

Net profit trend

annual, ₹ crore

FY21

₹−18.7

FY22

₹67.8+462%

FY23

₹0.8−99%

FY24

₹45+5497%

FY25

₹33.5−26%

FY26

₹33.1−1%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Standalone	12 Aug 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	28 May 2026	PDF on NSE XBRL
Q3 FY26	Standalone	12 Feb 2026	PDF on NSE XBRL
Q2 FY26	Standalone	13 Nov 2025	PDF on NSE XBRL
Q1 FY26	Standalone	6 Aug 2025	PDF on NSE XBRL
Q4 FY25	Standalone · audited	23 May 2025	PDF on NSE XBRL
Q3 FY25	Standalone	28 Jan 2025	PDF on NSE XBRL
Q2 FY25	Standalone	29 Oct 2024	PDF on NSE XBRL
Q1 FY25	Standalone	14 Aug 2024	PDF on NSE XBRL
Q4 FY24	Standalone · audited	27 May 2024	PDF on NSE XBRL

Annual reports

NSE archive

FY264.29 MB FY258.79 MB FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 78.8×10.2×

P/B5Y avg 0.78×0.58×

ROEFY26, on average equity5.2%

Net margin1.2%

Debt / equity0.18×

Revenue CAGR (3Y)12.3%

Profit CAGR (3Y)245.5%

EPS (TTM)₹0.25

Market cap₹376 Cr

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

P/B vs history

0.58×

vs 8-point avg 0.78× (−26%)

0.41× low0.78× avg1.60× high

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

Balance sheet 31 Mar 2026

Total assets₹1,032 Cr−19%

Net worth₹651 Cr+5%

Total borrowings₹117 Cr−53%

Cash & bank balances₹4 Cr+41%

Investments₹1 Cr+57%

Inventories₹143 Cr−19%

Trade receivables₹377 Cr−26%

Trade payables₹174 Cr−45%

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	51.01	51.01	51.01	51.01	51.01	51.01	51.01	51.01	58.47	64.87	64.87	64.87
FII	0.63	0.68	0.68	0.68	1.40	0.58	0.59	0.58	0.60	0.48	0.35	0.35
DII	1.31	1.31	1.31	1.31	1.25	1.25	1.48	1.48	0.07	0.00	0.00	0.00
Retail	39.61	39.52	39.63	39.49	38.15	36.85	36.34	35.48	35.71	28.71	29.17	29.14
Other public	7.44	7.48	7.37	7.51	8.19	10.31	10.58	11.45	5.15	5.94	5.61	5.64

1,83,763 shareholders · NSE shareholding pattern filings.