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Quarterly results

consolidated · 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	Q4 FY22	Q3 FY22	Q2 FY22	Q1 FY22	Q4 FY21	Q3 FY21	Q2 FY21	Q1 FY21	Q4 FY20	Q3 FY20	Q2 FY20	Q1 FY20	Q4 FY19	Q4 FY18
Revenue from operations	820	965	962	968	883	894	854	822	743	834	803	776	783	829	754	808	742	756	739	492	680	627	534	251	561	583	576	536	0	0
Other income	4.5	3.8	3.5	3.3	3.8	2.2	3.1	2.6	3.7	2	2.2	6.3	2.8	3.5	2.8	2.2	7.7	0.1	1.1	2	2	3.7	8.7	1.9	2.7	2.5	7.5	1.8	0	0
Total expenses	793	918	920	928	870	851	832	784	725	790	770	752	746	770	716	780	725	715	704	493	633	559	477	291	525	545	533	493	0	0
EBITDA	74.6	95.9	89.6	85.3	58	85.2	63.4	77.4	56.3	81.5	72.8	61.8	74.4	97.1	76.4	66	51.1	74.1	67	29.9	78.9	97.2	86.9	−10	70.6	68	71.7	70.8	0	0
EBITDA margin	9.1%	9.9%	9.3%	8.8%	6.6%	9.5%	7.4%	9.4%	7.6%	9.8%	9.1%	8.0%	9.5%	11.7%	10.1%	8.2%	6.9%	9.8%	9.1%	6.1%	11.6%	15.5%	16.3%	-4.0%	12.6%	11.7%	12.5%	13.2%	–	–
Finance costs	9.9	10.9	11.4	10.6	11.1	11.3	10.7	9.6	9.3	9	9.7	9.2	9.1	9.6	9.2	9.3	7.6	7.3	6.7	6.8	7	5.1	5.2	6.2	7.9	6.2	6.1	5.9	0	0
Depreciation	38.5	37.4	36.5	34.8	33.6	31.1	30.3	29.7	29.1	28.6	29.4	29.1	28.4	28.7	29	28.4	26.8	25.4	24.9	23.9	25.2	24.4	24.1	23.5	26.6	23.5	22.8	21.2	0	0
Profit before tax	30.7	51.5	29.8	43.2	17.1	45.1	25.6	40.8	21.7	45.9	35.9	29.8	39.7	62.4	41	30.5	24.5	41.5	36.6	1.2	48.6	71.3	66.3	−37.8	38.8	40.7	50.3	45.5	0	0
Tax	9.1	12.3	7.6	11.4	4.2	12	6.4	10.2	5.4	12.4	8.6	7.3	10	16.2	10	8.2	6.3	10.3	9.4	0.1	12	17.7	16.6	−9.4	8	11.6	3.3	16.2	0	0
Net profit	24.4	41.7	25.4	33.7	15.3	34.2	21.6	32.6	18.3	35.6	29.4	25	32.5	48.2	33.2	23.9	19.9	33.5	28.3	1.7	38.2	54.3	49.6	−28.9	31.7	30.5	49.1	31	0	0
Net margin	3.0%	4.3%	2.6%	3.5%	1.7%	3.8%	2.5%	4.0%	2.5%	4.3%	3.7%	3.2%	4.1%	5.8%	4.4%	3.0%	2.7%	4.4%	3.8%	0.3%	5.6%	8.7%	9.3%	-11.5%	5.7%	5.2%	8.5%	5.8%	–	–
EPS (₹)	16.29	27.82	16.93	22.49	10.21	22.87	14.40	21.80	12.25	23.79	19.64	16.76	21.73	32.30	22.24	16.02	13.39	22.39	18.94	1.13	25.51	36.39	33.19	-19.40	21.29	20.26	32.85	20.82	0.00	0.00
Net profit YoY	+59.2%	+21.8%	+17.5%	+3.2%	−16.4%	−3.8%	−26.4%	+30.3%	−43.5%	−26.3%	−11.5%	+4.6%	–	+142.0%	−1.0%	−15.4%	−47.8%	−38.3%	−43.0%	+105.8%	+20.3%	+78.2%	+0.9%	−193.2%	–	–	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Revenue from operations	3,778	3,313	3,196	3,131	2,730	2,092	2,257	2,362	2,161
Other income	14.4	11.7	13.3	11	11.9	16	14.4	13	3.7
Total expenses	3,636	3,191	3,058	2,973	2,638	1,960	2,096	2,216	1,984
EBITDA	329	282	290	308	221	253	281	213	239
EBITDA margin	8.7%	8.5%	9.1%	9.8%	8.1%	12.1%	12.5%	9.0%	11.1%
Finance costs	44	40.8	36.9	36.6	28.4	23.5	26.1	15.8	12.5
Depreciation	142	120	115	113	101	97.2	94.2	51.7	50.5
Profit before tax	142	133	151	169	104	148	175	159	180
Tax	35.5	−42.4	38.2	43	26.1	37	39.1	48.3	63
Net profit	116	183	122	134	83.4	113	142	118	124
Net margin	3.1%	5.5%	3.8%	4.3%	3.1%	5.4%	6.3%	5.0%	5.7%
EPS (₹)	77.45	71.32	81.92	89.76	55.86	75.68	95.21	78.63	82.74
Net profit YoY	−36.7%	+49.7%	−8.6%	+60.6%	−26.3%	−20.6%	+21.0%	−5.0%	–

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	306	247	250	190	69.1
Investing cash flow	−160	−225	−160	−165	−88.9
Financing cash flow	−213	33.6	−31.7	−71.5	59.6
Capital expenditure	153	270	156	196	164
Free cash flow (CFO − capex)	153	−22.8	94.3	−5.8	−95

Net profit trend

annual, ₹ crore

FY21

₹113

FY22

₹83.4−26%

FY23

₹134+61%

FY24

₹122−9%

FY25

₹183+50%

FY26

₹116−37%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	1 Aug 2026	PDF on NSE XBRL
Q1 FY27	Standalone	1 Aug 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	14 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	–	PDF on NSE XBRL
Q4 FY26	Standalone · audited	–	PDF on NSE XBRL
Q4 FY26	Standalone · audited	14 May 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	5 Feb 2026	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	Consolidated	–	PDF on NSE XBRL

Annual reports

NSE archive

FY262.22 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 16.6×22.5×

P/B5Y avg 1.86×1.78×

ROEFY26, on average equity7.6%

Net margin3.1%

Debt / equity0.16×

Revenue CAGR (3Y)6.5%

Profit CAGR (3Y)-4.7%

EPS (TTM)₹83.86

Market cap₹2,811 Cr

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

P/B vs history

1.78×

vs 8-point avg 1.86× (−4%)

1.01× low1.86× avg2.52× high

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

Balance sheet 31 Mar 2026

Total assets₹2,518 Cr−1%

Net worth₹1,577 Cr+6%

Total borrowings₹256 Cr−31%

Cash & bank balances₹76 Cr−46%

Investments₹26 Cr+670%

Inventories₹645 Cr−6%

Trade receivables₹467 Cr+1%

Trade payables₹272 Cr−9%

Change vs the same date a year earlier.

Revenue mix FY26

Business to Business89.2%result ₹219 Cr

Retail and Ecommerce10.8%result ₹−17.6 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	64.54	64.54	64.54	64.54	64.54	64.54	64.54	64.54	64.54	64.54	64.54	64.54
FII	0.97	0.98	1.00	1.02	1.00	1.01	1.09	1.10	1.08	1.14	1.16	1.16
DII	12.91	13.72	14.21	14.33	14.38	14.40	14.41	14.40	17.78	19.21	20.09	20.30
of which MF	12.90	13.72	14.17	14.25	14.29	–	–	–	–	–	–	–
Retail	18.17	17.41	17.00	16.89	16.83	16.77	16.61	16.31	13.56	12.36	11.44	11.21
Other public	3.41	3.35	3.25	3.22	3.25	3.28	3.35	3.65	3.04	2.75	2.77	2.79

21,248 shareholders · NSE shareholding pattern filings.