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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	Q1 FY20	Q4 FY19	Q3 FY19	Q2 FY19	Q1 FY19	Q4 FY18
Revenue from operations	122	174	122	88.3	99.6	114	92.3	78.6	84.2	104	105	74.9	71.5	92.8	78	59.6	70.3	82.3	55.4	43.6	40.9	58.2	29	50.3	24	93.1	99.5	100	174	178	227	309	277	339
Other income	8	7.6	9.7	7.3	10.8	5.8	5.3	5.6	7.7	5.3	3.9	4.5	3.9	4.4	4.7	2.7	3	16.7	4.2	7	3.8	7.3	5	6.2	3.6	4.2	4.3	9.6	3.6	3.6	3.4	3	2.8	5.6
Total expenses	116	161	116	91.7	99.9	113	94	81.5	88	106	110	81	76.6	95.2	87.3	71.6	80	111	70.3	57	52.9	82.3	55.3	62	43.3	103	106	105	167	179	229	312	279	334
EBITDA	13.5	21.7	14.3	5.2	8.4	10.7	7.7	7.2	6.6	8.9	6.4	4.4	5.8	8.1	3.2	−0.2	2.7	−18.4	−1.6	−2.6	−2.5	−13.7	−16.7	−2.2	−9	−0.2	2.4	3.3	15.2	8.8	11.4	9.7	10.3	19.2
EBITDA margin	11.0%	12.5%	11.7%	5.9%	8.4%	9.4%	8.4%	9.1%	7.8%	8.5%	6.1%	5.8%	8.1%	8.7%	4.1%	-0.3%	3.8%	-22.4%	-2.8%	-6.0%	-6.1%	-23.6%	-57.6%	-4.4%	-37.6%	-0.2%	2.4%	3.3%	8.7%	4.9%	5.0%	3.1%	3.7%	5.7%
Finance costs	3.5	4	3.8	4.2	4.4	5.1	4.9	5	5.2	5.2	5.4	5	5.3	4.9	5.9	6.8	6.4	5.3	9.1	7.5	6.7	5	7.1	7.2	8	6.9	6.5	6	5.7	5.6	8	7.4	7.1	9
Depreciation	4.3	4.2	4.4	4.3	4.3	4.4	4.6	5	5.2	5.3	5.5	5.5	5.5	5.6	6.7	5	5.9	4.8	4.3	3.3	2.8	5.4	2.4	2.3	2.3	2.5	2.5	2.6	2.6	3.9	5	5.4	5.4	5
Profit before tax	13.7	21.2	15.9	3.9	8.5	6	3.6	21.8	3.9	26.3	−0.5	−1.6	−1.2	2.1	−4.6	−9.3	−6.6	48.1	−10.8	−6.4	−8.2	31	−21.3	−5.5	−15.7	1.8	−2.4	11.1	36	2.9	1.8	−0.2	0.6	10.7
Tax	3.1	3.9	3.6	3.6	1.3	5.5	0.8	6.3	1.3	9.7	−0.3	1.9	−0	−4.9	−2.1	14.5	−1.7	5.5	−0.6	−3	−2.1	10.8	−7.7	0.8	−4.8	−1.5	0.1	−2.7	7	3.1	0.2	1.3	0	−2.4
Net profit	10.6	17.3	12.2	0.3	7.1	0.5	2.9	15.5	2.6	16.6	−0.3	−3.5	−1.2	6.9	−2.6	−23.7	−5	42.6	−10.1	−3.4	−6.2	20.2	−13.6	−6.4	−10.9	3.3	−2.5	13.8	29	−0.2	1.6	−1.5	0.5	13.2
Net margin	8.7%	9.9%	10.0%	0.4%	7.2%	0.4%	3.1%	19.8%	3.1%	16.0%	-0.3%	-4.7%	-1.6%	7.5%	-3.3%	-39.8%	-7.0%	51.7%	-18.3%	-7.8%	-15.0%	34.7%	-46.7%	-12.7%	-45.5%	3.5%	-2.5%	13.8%	16.7%	-0.1%	0.7%	-0.5%	0.2%	3.9%
EPS (₹)	4.96	8.11	5.71	0.16	3.34	0.23	1.34	7.27	1.24	7.76	-0.12	-1.64	-0.54	3.24	-1.20	-11.10	-2.32	19.91	-4.74	-1.58	-2.88	9.44	-6.34	-2.98	-5.10	1.54	-1.17	6.45	13.55	-0.08	0.74	-0.70	0.24	6.16
Net profit YoY	+48.5%	+3428.8%	+326.3%	−97.8%	+169.6%	−97.0%	+1174.5%	+543.6%	+328.5%	+139.2%	+89.6%	+85.2%	+76.6%	−83.7%	+74.7%	−602.7%	+19.5%	+110.9%	+25.3%	+46.9%	+43.6%	+511.3%	−441.9%	−146.2%	−137.7%	+2004.8%	−258.8%	+1024.1%	+5436.4%	−101.3%	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19
Revenue from operations	484	369	355	301	222	161	467	992
Other income	35.5	24.4	17.7	14.8	31.6	22	21.7	12.8
Total expenses	469	376	372	334	291	243	481	999
EBITDA	49.6	32.2	25.4	13.8	−25.1	−41.7	20.7	40.1
EBITDA margin	10.2%	8.7%	7.1%	4.6%	-11.3%	-25.8%	4.4%	4.0%
Finance costs	16.4	20.2	20.8	23.9	28.5	27.2	25.1	28.1
Depreciation	17.2	19.2	21.8	23.2	15.2	12.5	10.3	19.6
Profit before tax	49.5	35.3	23	−18.4	22.7	−11.5	46.5	5.2
Tax	12.4	13.8	11.3	5.9	−0.8	−1.4	2.9	4.7
Net profit	37	21.5	11.7	−24.3	23.5	−10.1	43.6	0.4
Net margin	7.6%	5.8%	3.3%	-8.1%	10.6%	-6.3%	9.3%	0.0%
EPS (₹)	17.32	10.07	5.45	-11.38	10.97	-4.73	20.38	0.20
Net profit YoY	+71.9%	+84.8%	+147.9%	−203.7%	+332.2%	−123.2%	+9958.4%	–

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	66.9	34.2	20.7	35.1	19.1
Investing cash flow	−15	−12.9	18.7	−9.3	83.3
Financing cash flow	−37.6	−44.7	−11.4	−33.7	−104
Capital expenditure	4.1	6.4	4.9	15.6	14.7
Free cash flow (CFO − capex)	62.9	27.8	15.8	19.6	4.4

Net profit trend

annual, ₹ crore

FY21

₹−10.1

FY22

₹23.5+332%

FY23

₹−24.3−204%

FY24

₹11.7+148%

FY25

₹21.5+85%

FY26

₹37+72%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Standalone	24 Jul 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	2 May 2026	PDF XBRL
Q3 FY26	Standalone	27 Jan 2026	PDF XBRL
Q2 FY26	Standalone	30 Oct 2025	PDF on NSE XBRL
Q1 FY26	Standalone	24 Jul 2025	PDF on NSE XBRL
Q4 FY25	Standalone · audited	2 May 2025	PDF on NSE XBRL
Q3 FY25	Standalone	12 Mar 2025	PDF on NSE XBRL
Q3 FY25	Standalone · audited	24 Jan 2025	PDF on NSE XBRL
Q2 FY25	Standalone	30 Oct 2024	PDF on NSE XBRL
Q1 FY25	Standalone	30 Jul 2024	PDF on NSE XBRL

Annual reports

NSE archive

FY2611.63 MB FY25 FY24 FY23 FY21 FY20 FY19 FY18 FY17 FY16

Key ratios

P/E (TTM)5Y avg 10.9×10.6×

P/B5Y avg 0.62×1.24×

ROEFY26, on average equity11.2%

Net margin7.6%

Debt / equity0.14×

Revenue CAGR (3Y)17.2%

Profit CAGR (3Y)–

EPS (TTM)₹18.94

Market cap₹428 Cr

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

P/B vs history

1.24×

vs 8-point avg 0.62× (+100%)

0.30× low0.62× avg1.24× high

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

Balance sheet 31 Mar 2026

Total assets₹503 Cr+4%

Net worth₹347 Cr+10%

Total borrowings₹47 Cr−33%

Cash & bank balances₹28 Cr+104%

Investments₹66 Cr+63%

Inventories₹11 Cr−2%

Trade receivables₹15 Cr+238%

Trade payables₹52 Cr+75%

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	54.63	54.86	53.22	52.75	52.85	53.32	53.65	54.12	54.12	54.72	54.72	55.42
FII	0.39	0.36	–	0.00	0.29	0.00	0.21	0.09	0.00	0.14	0.29	0.02
DII	0.15	–	–	–	–	0.00	0.00	0.03	1.02	0.00	0.00	0.00
Retail	37.81	38.06	38.12	38.80	38.37	37.98	37.70	36.84	36.48	36.76	37.82	37.83
Other public	7.02	6.72	8.66	8.45	8.49	8.70	8.44	8.92	8.38	8.38	7.17	6.73

16,182 shareholders · NSE shareholding pattern filings.