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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	Q1 FY23	Q4 FY22	Q3 FY22	Q2 FY22	Q1 FY22	Q4 FY21	Q3 FY21	Q2 FY21	Q1 FY21	Q4 FY20	Q3 FY20	Q2 FY20	Q4 FY18
Revenue from operations	116	152	132	108	150	93.5	84.6	66	70.2	71.8	80.5	80.5	92.4	106	113	74.2	91	121	120	89.8	79.8	119	107	77.1	23.5	79.8	115	128	0
Other income	2.5	2.3	2.6	3.5	3.5	10.2	0.5	1.5	1.2	0.8	0.6	1.8	1.7	0.8	0.6	1.4	1.8	0.7	0.3	5.4	1	1.2	0.2	0.8	1.5	3.7	0.9	0.6	0
Total expenses	129	162	142	110	106	107	272	113	115	126	126	114	127	148	141	112	123	159	151	122	112	165	130	106	61.5	112	145	159	0
EBITDA	−8.2	−4.9	−6	−13.7	49.6	−6.1	−5	−12.8	−10.8	−21.6	−14.1	−2.2	−5	−16.1	−2.3	−11.5	−7.4	−14.2	−6.6	−8.8	−9.7	−22.7	−2.3	−8.6	−15.9	−15.1	−14.9	−15.6	0
EBITDA margin	-7.1%	-3.2%	-4.6%	-12.7%	33.0%	-6.6%	-5.9%	-19.3%	-15.4%	-30.1%	-17.6%	-2.7%	-5.4%	-15.3%	-2.0%	-15.5%	-8.1%	-11.8%	-5.5%	-9.8%	-12.1%	-19.0%	-2.1%	-11.1%	-67.6%	-18.9%	-13.0%	-12.1%	–
Finance costs	2.5	2.9	2.5	2.4	2.5	3.4	12.7	27.4	26.7	25.4	24.2	24	21.9	18.8	18.9	18.6	17	16.4	16.7	15.8	15.4	14.5	13.5	13	12.6	7.7	5.6	5.6	0
Depreciation	2.1	2.2	2.1	−13.5	3.1	3.5	170	7.2	7.1	7.3	7.3	7.3	7.2	7.1	7.4	7.4	7.4	7.4	7.5	7.6	7.5	8.6	7.3	7.4	9.4	9.6	9.7	9.7	0
Profit before tax	−10.3	−7.8	−12	0.9	47.5	−2.9	−660	−34.6	−43.5	−53.5	−45.1	−31.6	−32.4	−42.1	−34.5	−36.1	−38.5	−37.2	−30.5	−26.8	−31.6	−44.6	−22.9	−28.2	−36.5	3.4	−29.3	−30.3	0
Tax	0	0	0	0	0	0	0	0	0	−0.1	0	0	0.3	0	0	0	0	0	0	0	0	3.8	0	0	0	2.6	−0.1	−0.1	0
Net profit	−10.3	−7.8	−12	0.9	47.5	−2.9	−660	−34.6	−43.5	−53.4	−45.1	−31.6	−32.8	−42.1	−34.5	−36.1	−38.5	−37.2	−30.5	−26.8	−31.6	−48.3	−24.9	−30.2	−36.5	0.9	−29.2	−30.1	0
Net margin	-8.9%	-5.1%	-9.1%	0.9%	31.6%	-3.1%	-780.1%	-52.4%	-62.0%	-74.4%	-56.1%	-39.3%	-35.4%	-39.8%	-30.6%	-48.7%	-42.3%	-30.9%	-25.3%	-29.8%	-39.5%	-40.6%	-23.3%	-39.2%	-155.0%	1.1%	-25.4%	-23.4%	–
EPS (₹)	-0.43	-0.34	-0.52	0.04	2.07	-0.16	-91.87	-4.82	-6.06	-7.43	-6.28	-4.40	-4.56	-5.86	-4.80	-5.06	-5.31	-5.14	-4.14	-3.79	4.44	-6.66	-3.27	-3.91	-4.84	2.96	-3.83	-3.94	0.00
Net profit YoY	−121.8%	−168.0%	+98.2%	+102.7%	+209.0%	+94.6%	−1362.3%	−9.4%	−32.8%	−26.8%	−30.9%	+12.4%	+14.9%	−13.1%	−13.0%	−34.7%	−22.0%	+23.0%	−22.6%	+11.3%	+13.4%	−5688.5%	+14.7%	−0.4%	–	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY18
Revenue from operations	542	314	325	384	411	327	461	617
Other income	11.9	13.4	4.9	4.5	7.5	3.1	9.1	4.8
Total expenses	521	607	493	524	544	460	573	708
EBITDA	25	−34.7	−42.9	−37.3	−39.3	−48.7	−50.1	3.6
EBITDA margin	4.6%	-11.0%	-13.2%	-9.7%	-9.6%	-14.9%	-10.9%	0.6%
Finance costs	10.3	70.2	95.5	73.4	64.3	53.6	23.5	13.9
Depreciation	−6.1	188	29.2	29.3	30	30.7	38.6	80.5
Profit before tax	28.7	−741	−163	−151	−126	−130	−71	162
Tax	0	0	0.3	0	0	3.8	1.2	−22.9
Net profit	28.6	−741	−163	−151	−126	−127	−72.2	185
Net margin	5.3%	-235.8%	-50.1%	-39.4%	-30.7%	-39.0%	-15.7%	29.9%
EPS (₹)	1.26	-74.59	-22.68	-5.86	-17.50	-18.53	-6.62	33.77
Net profit YoY	+103.9%	−354.8%	−7.7%	−19.9%	+1.0%	−76.5%	–	–

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	−153	−148	−8.8	2.6	6.2
Investing cash flow	−9.5	−4	−0.5	−0.4	3.7
Financing cash flow	102	228	5.3	−3.4	−10.2
Capital expenditure	9.5	6.2	0.5	0.4	0
Free cash flow (CFO − capex)	−162	−154	−9.3	2.2	6.2

Net profit trend

annual, ₹ crore

FY21

₹−127

FY22

₹−126+1%

FY23

₹−151−20%

FY24

₹−163−8%

FY25

₹−741−355%

FY26

₹28.6+104%

Result filings

as filed with NSE · PDF and XBRL

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

Annual reports

NSE archive

FY264.74 MB FY253.82 MB FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)-72.6×

P/B5.80×

ROEFY26, on average equity9.4%

Net margin5.3%

Debt / equity0.83×

Revenue CAGR (3Y)12.2%

Profit CAGR (3Y)–

EPS (TTM)₹-1.21

Market cap₹2,116 Cr

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

Balance sheet 31 Mar 2026

Total assets₹1,090 Cr+18%

Net worth₹365 Cr+48%

Total borrowings₹304 Cr+6%

Cash & bank balances₹31 Cr−66%

Investments₹1 Cr

Inventories₹429 Cr+15%

Trade receivables₹168 Cr+161%

Trade payables₹113 Cr+21%

Change vs the same date a year earlier.

Revenue mix FY26

Tiles and other related products88.8%result ₹−13.9 Cr

Real estate11.2%result ₹45 Cr

Segment revenue as reported, before inter-segment eliminations.

Shareholding 24 Jul 2026

%	Jul 26	Jul 26	Jun 26	Mar 26	Mar 26	Dec 25	Sept 25	Jun 25	Mar 25	Jan 25	Jan 25	Dec 24
Promoter	23.96	22.27	20.17	20.17	20.17	16.20	16.21	16.23	16.23	16.23	46.79	46.79
FII	2.10	2.15	2.27	2.30	2.30	2.18	2.30	2.05	0.41	0.54	1.97	1.97
DII	0.59	0.60	0.62	1.54	1.54	1.68	2.24	2.35	1.88	1.88	5.98	5.98
Retail	18.34	18.62	19.18	17.07	16.99	18.05	17.63	17.68	77.72	77.47	33.99	33.99
Other public	55.01	56.36	57.76	58.92	59.00	61.89	61.62	61.69	3.76	3.88	11.27	11.27

28,110 shareholders · NSE shareholding pattern filings.