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 | 2,782 | 2,648 | 2,873 | 2,346 | 2,155 | 2,062 | 2,267 | 1,875 | 1,746 | 1,668 | 1,789 | 1,507 | 1,422 | 1,302 | 1,463 | 1,231 | 973 | 1,098 | 885 |
| Other income | 9.3 | 9.2 | 6.3 | 8 | 9.3 | 9 | 5.5 | 5.5 | 7.3 | 7.1 | 7.6 | 8.6 | 6.7 | 9.7 | 5.6 | 6.5 | 11.1 | 5.9 | 5.2 |
| Total expenses | 2,662 | 2,536 | 2,754 | 2,298 | 2,121 | 2,031 | 2,228 | 1,859 | 1,731 | 1,655 | 1,770 | 1,502 | 1,419 | 1,303 | 1,456 | 1,229 | 979 | 1,067 | 889 |
| EBITDA | 236 | 223 | 230 | 159 | 141 | 133 | 141 | 104 | 96.1 | 93.3 | 98.8 | 80.6 | 73.5 | 70.7 | 78.2 | 61.1 | 38.5 | 69 | 28.8 |
| EBITDA margin | 8.5% | 8.4% | 8.0% | 6.8% | 6.5% | 6.5% | 6.2% | 5.5% | 5.5% | 5.6% | 5.5% | 5.4% | 5.2% | 5.4% | 5.3% | 5.0% | 4.0% | 6.3% | 3.3% |
| Finance costs | 26.7 | 26.3 | 29.2 | 31.5 | 30.2 | 29.9 | 31.9 | 24.2 | 21.3 | 21.1 | 21.8 | 21.3 | 18.5 | 18.8 | 20.4 | 20.4 | 13.4 | 12.8 | 11.3 |
| Depreciation | 89.5 | 84.2 | 80.9 | 79.1 | 76.1 | 72.9 | 69.8 | 63.6 | 60.1 | 59.6 | 58 | 54.6 | 51.9 | 53 | 50.7 | 38.5 | 30.5 | 25.1 | 21.3 |
| Profit before tax | 129 | 122 | 110 | 55.4 | 43.7 | 39.6 | 44.6 | 21.3 | 22.1 | 19.6 | 26.5 | 13.3 | 9.7 | 8.6 | 12.7 | 8.8 | 5.8 | 37 | 1.4 |
| Tax | 49.4 | 42.8 | 41.9 | 22.4 | 19.2 | 20.5 | 17.6 | 7.8 | 7.8 | 9.8 | 8.3 | 4 | 3.3 | 4.4 | 3.5 | 3.1 | −1.8 | 8 | 0.2 |
| Net profit | 79.8 | 78.8 | 67.7 | 33 | 24.5 | 19.1 | 26.4 | 13 | 13.6 | 9.1 | 17.5 | 7.8 | 5.4 | 2.3 | 8.5 | 5.2 | 7.6 | 29 | 1.2 |
| Net margin | 2.9% | 3.0% | 2.4% | 1.4% | 1.1% | 0.9% | 1.2% | 0.7% | 0.8% | 0.5% | 1.0% | 0.5% | 0.4% | 0.2% | 0.6% | 0.4% | 0.8% | 2.6% | 0.1% |
| EPS (₹) | 0.28 | 0.27 | 0.22 | 0.12 | 0.08 | 0.07 | 0.09 | 0.04 | 0.03 | 0.02 | 0.06 | 0.02 | 0.02 | 0.01 | 0.03 | 0.09 | 0.18 | 0.60 | 0.03 |
| Net profit YoY | +226.0% | +313.4% | +156.5% | +154.3% | +79.4% | +110.0% | +51.3% | +66.3% | +151.4% | +298.7% | +105.7% | +50.3% | – | −70.0% | −70.8% | +342.9% | – | – | – |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 |
|---|---|---|---|---|---|
| Revenue from operations | 10,022 | 7,950 | 6,386 | 5,144 | 3,774 |
| Other income | 32.8 | 27.3 | 29.9 | 30.2 | 27 |
| Total expenses | 9,707 | 7,850 | 6,347 | 5,136 | 3,754 |
| EBITDA | 752 | 474 | 346 | 256 | 163 |
| EBITDA margin | 7.5% | 6.0% | 5.4% | 5.0% | 4.3% |
| Finance costs | 117 | 107 | 82.8 | 74.6 | 46.5 |
| Depreciation | 320 | 266 | 224 | 173 | 96.4 |
| Profit before tax | 330 | 127 | 69 | 38.4 | 47.3 |
| Tax | 126 | 53.8 | 25.3 | 13.6 | 6 |
| Net profit | 204 | 72.1 | 39.7 | 21 | 41.3 |
| Net margin | 2.0% | 0.9% | 0.6% | 0.4% | 1.1% |
| EPS (₹) | 0.70 | 0.23 | 0.11 | 0.07 | 0.88 |
| Net profit YoY | +183.0% | +81.3% | +89.6% | −49.2% | – |
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 | 644 | 467 | 0.3 | −140 | −354 |
| Investing cash flow | −159 | −205 | −10.1 | 140 | −603 |
| Financing cash flow | −433 | −212 | 44.3 | 4.9 | 927 |
| Capital expenditure | 154 | 127 | 111 | 208 | 94 |
| Free cash flow (CFO − capex) | 490 | 339 | −110 | −348 | −448 |
Net profit trend
annual, ₹ croreFY22
₹41.3
FY23
₹21−49%
FY24
₹39.7+90%
FY25
₹72.1+81%
FY26
₹204+183%
Result filings
as filed with NSE · PDF and XBRL| Period | Basis | Filed | Documents |
|---|---|---|---|
| Q1 FY27 | Consolidated | 4 Aug 2026 | PDF on NSE XBRL |
| Q1 FY27 | Standalone | 4 Aug 2026 | PDF on NSE XBRL |
| Q4 FY26 | Consolidated · audited | 21 May 2026 | PDF on NSE XBRL |
| Q4 FY26 | Standalone · audited | 21 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 | 7 Nov 2025 | PDF on NSE XBRL |
| Q2 FY26 | Standalone | 7 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 archiveKey ratios
P/E (TTM)5Y avg 976.3×368.6×
P/B5Y avg 39.47×66.45×
ROEFY26, on average equity14.9%
Net margin2.0%
Debt / equity0.52×
Revenue CAGR (3Y)24.9%
Profit CAGR (3Y)113.5%
EPS (TTM)₹0.91
Market cap₹95,548 Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
66.45×
vs 8-point avg 39.47× (+68%)
25.82× low39.47× avg66.45× high
History points are balance-sheet dates (2022 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹4,611 Cr+16%
Net worth₹1,438 Cr+11%
Total borrowings₹747 Cr−22%
Cash & bank balances₹177 Cr+42%
Investments₹0 Cr+0%
Inventories₹1,642 Cr+16%
Trade receivables₹289 Cr+17%
Trade payables₹733 Cr+15%
Change vs the same date a year earlier.
Revenue mix FY26
Beauty91.2%result ₹504 Cr
Fashion8.3%result ₹−67.5 Cr
Others0.5%result ₹−43.8 Cr
Segment revenue as reported, before inter-segment eliminations.