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 FY19 | Q3 FY19 | Q2 FY19 | Q1 FY19 | Q4 FY18 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 406 | 349 | 302 | 321 | 282 | 541 | 289 | 389 | 342 | 536 | 599 | 266 | 213 | 289 | 244 | 119 | 121 | 168 | 180 | 184 | 86.1 | 167 | 103 | 155 | 50.8 | 350 | 167 | 251 | 299 | 242 | 452 | 174 | 491 |
| Other income | 32.8 | 27.8 | 17.2 | 25.5 | 15.8 | 11.8 | 11.5 | 9.1 | 43.6 | 6.7 | 2.7 | 3.7 | 7.4 | 8.7 | 10 | 3.4 | 2.6 | 4.8 | 4.4 | 7.6 | 3.4 | 24.5 | 2.8 | 8.4 | 3.1 | 5.3 | 18.5 | 4.9 | 8.4 | 7.4 | 8.9 | 9 | 29.4 |
| Total expenses | 434 | 630 | 520 | 563 | 526 | 710 | 483 | 665 | 542 | 734 | 684 | 372 | 352 | 441 | 390 | 234 | 190 | 203 | 236 | 244 | 149 | 254 | 208 | 240 | 117 | 353 | 176 | 244 | 272 | 238 | 442 | 169 | 484 |
| EBITDA | 7.3 | −202 | −155 | −169 | −170 | −106 | −127 | −224 | −151 | −146 | −37.4 | −67 | −92.5 | −109 | −102 | −68.3 | −23.4 | 6.5 | −24.2 | −10.8 | −18.3 | −35.8 | −52.1 | −16.5 | −14.3 | 71.8 | 12.9 | 28.1 | 32.3 | 14.8 | 41.2 | 39.8 | 49.7 |
| EBITDA margin | 1.8% | -57.9% | -51.4% | -52.7% | -60.1% | -19.6% | -43.9% | -57.5% | -44.3% | -27.3% | -6.2% | -25.2% | -43.3% | -37.8% | -41.9% | -57.4% | -19.3% | 3.8% | -13.5% | -5.9% | -21.2% | -21.4% | -50.8% | -10.6% | -28.1% | 20.5% | 7.7% | 11.2% | 10.8% | 6.1% | 9.1% | 23.0% | 10.1% |
| Finance costs | 27.1 | 69.5 | 53.9 | 64.7 | 67 | 51.3 | 57 | 44.6 | 42.4 | 38.2 | 32.4 | 29 | 30.8 | 25.8 | 27.3 | 31.2 | 28.5 | 33.5 | 25.6 | 32.8 | 29.2 | 26.1 | 42.8 | 53.5 | 39.1 | 50.6 | 4.7 | 2.9 | 2.5 | 8.6 | 29.6 | 33.6 | 40.4 |
| Depreciation | 7.9 | 10.1 | 9 | 8.3 | 7.2 | 11.6 | 10.4 | 7.5 | 7.2 | 13.6 | 14.6 | 10.4 | 15.7 | 16.2 | 16.4 | 16.1 | 16.7 | 8.3 | 6.1 | 16.9 | 15.3 | 24.9 | 10.6 | 14.6 | 13.3 | 23.9 | 16.6 | 18 | 2.5 | 2.5 | 2.2 | 1.8 | 2.3 |
| Profit before tax | 5.1 | −254 | −201 | −216 | −228 | −157 | −183 | −267 | −157 | −191 | −81.8 | −103 | −132 | −143 | −136 | −112 | −66 | −30.6 | −51.5 | −53 | −59.3 | −62.3 | −103 | −76.2 | −63.6 | 2.6 | 10.1 | 12.2 | 35.7 | 11.2 | 18.3 | 13.4 | 36.3 |
| Tax | 3.8 | −62.3 | −47.6 | −50 | −42.3 | −8.6 | −32.4 | −27.5 | −10.2 | −47.6 | −9.9 | −18.3 | −25.3 | −38.3 | −26.8 | −24.8 | −15.8 | 6.1 | −13 | −11 | −14.9 | −62.8 | −7.4 | 0.4 | 0.4 | 129 | 3.8 | 4.1 | 14.9 | 2.7 | 7.6 | 4.7 | 15.6 |
| Net profit | 1.3 | −191 | −153 | −166 | −186 | −149 | −150 | −239 | −147 | −144 | −71.8 | −84.4 | −106 | −104 | −109 | −87.4 | −50.2 | −36.6 | −38.6 | −42 | −44.4 | 0.5 | −95.2 | −76.6 | −63.9 | −126 | 6.3 | 8.1 | 20.8 | 8.5 | 10.7 | 8.7 | 20.7 |
| Net margin | 0.3% | -54.9% | -50.8% | -51.9% | -65.8% | -27.5% | -52.0% | -61.5% | -43.0% | -26.8% | -12.0% | -31.7% | -49.8% | -36.1% | -44.7% | -73.5% | -41.4% | -21.8% | -21.4% | -22.9% | -51.6% | 0.3% | -92.9% | -49.4% | -126.0% | -36.1% | 3.7% | 3.2% | 7.0% | 3.5% | 2.4% | 5.0% | 4.2% |
| EPS (₹) | 0.05 | -10.46 | -8.38 | -9.11 | -10.16 | -8.11 | -8.23 | -13.10 | -8.06 | -7.93 | -3.66 | -4.61 | -5.81 | -5.77 | -5.79 | -4.78 | -2.68 | -2.15 | -2.06 | -2.13 | -2.38 | 0.01 | -5.22 | -4.16 | -3.49 | -6.85 | 0.42 | 0.23 | 1.11 | 0.59 | 0.59 | 0.48 | 1.23 |
| Net profit YoY | +100.7% | −28.8% | −1.9% | +30.5% | −26.4% | −3.5% | −109.4% | −183.9% | −38.4% | −37.6% | +34.2% | +3.5% | −111.6% | −185.1% | −183.0% | −108.0% | −13.0% | −6881.5% | +59.5% | +45.2% | +30.5% | +100.4% | −1621.4% | −1047.8% | – | −707.1% | −26.4% | −24.3% | +0.4% | – | – | – | – |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 1,253 | 1,561 | 1,614 | 773 | 618 | 476 | 1,121 | 1,167 | 1,839 |
| Other income | 86.3 | 76 | 20.6 | 24.7 | 20.1 | 38.9 | 34.2 | 33.7 | 58.7 |
| Total expenses | 2,239 | 2,401 | 2,142 | 1,255 | 832 | 819 | 1,111 | 1,122 | 1,757 |
| EBITDA | −696 | −608 | −343 | −303 | −46.9 | −119 | 191 | 128 | 260 |
| EBITDA margin | -55.5% | -38.9% | -21.3% | -39.2% | -7.6% | -25.0% | 17.0% | 11.0% | 14.1% |
| Finance costs | 255 | 195 | 130 | 113 | 121 | 161 | 108 | 74.3 | 169 |
| Depreciation | 34.5 | 36.7 | 54.3 | 65.4 | 46.6 | 63.4 | 72.7 | 9 | 8.8 |
| Profit before tax | −899 | −764 | −507 | −457 | −194 | −305 | 44.3 | 78.6 | 141 |
| Tax | −202 | −78.6 | −101 | −106 | −32.7 | −69.4 | 141 | 29.9 | 55.5 |
| Net profit | −697 | −685 | −406 | −351 | −162 | −235 | −97.1 | 48.7 | 85.2 |
| Net margin | -55.6% | -43.9% | -25.1% | -45.4% | -26.2% | -49.4% | -8.7% | 4.2% | 4.6% |
| EPS (₹) | -38.10 | -37.51 | -22.01 | -19.02 | -8.72 | -12.86 | -5.32 | 2.68 | 4.59 |
| Net profit YoY | −1.7% | −68.9% | −15.6% | −117.2% | +31.3% | −142.1% | −299.7% | −42.9% | – |
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 | 212 | 1,007 | 987 | 469 | 783 |
| Investing cash flow | 59.7 | −126 | −64 | −142 | −22.2 |
| Financing cash flow | −82.2 | −770 | −924 | −262 | −740 |
| Capital expenditure | 29.6 | 24.1 | 16.8 | 16.8 | 17.2 |
| Free cash flow (CFO − capex) | 182 | 983 | 970 | 452 | 766 |
Net profit trend
annual, ₹ croreFY21
₹−235
FY22
₹−162+31%
FY23
₹−351−117%
FY24
₹−406−16%
FY25
₹−685−69%
FY26
₹−697−2%
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 | 15 May 2026 | PDF on NSE XBRL |
| Q4 FY26 | Standalone · audited | 15 May 2026 | PDF on NSE XBRL |
| Q3 FY26 | Consolidated | 6 Feb 2026 | PDF on NSE XBRL |
| Q3 FY26 | Standalone | 6 Feb 2026 | PDF on NSE XBRL |
| Q2 FY26 | Consolidated | 14 Nov 2025 | PDF XBRL |
| Q2 FY26 | Standalone | 14 Nov 2025 | PDF XBRL |
| Q1 FY26 | Consolidated | 13 Aug 2025 | PDF XBRL |
| Q1 FY26 | Standalone | 13 Aug 2025 | PDF XBRL |
Annual reports
NSE archiveKey ratios
P/E (TTM)-4.3×
P/B5Y avg 6.02×-2.40×
ROEFY26, on average equity125.9%
Net margin-55.6%
Debt / equity-1.58×
Revenue CAGR (3Y)17.5%
Profit CAGR (3Y)–
EPS (TTM)₹-27.87
Market cap₹2,168 Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
-2.40×
vs 8-point avg 6.02× (−140%)
-2.40× low6.02× avg22.11× high
History points are balance-sheet dates (2022 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹16,522 Cr+11%
Net worth₹-902 Cr−339%
Total borrowings₹1,425 Cr+92%
Cash & bank balances₹490 Cr+63%
Investments₹18 Cr−11%
Inventories₹12,316 Cr+12%
Trade receivables₹263 Cr−15%
Trade payables₹1,393 Cr+5%
Change vs the same date a year earlier.