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Quarterly results

standalone · as filed with NSE · Q1 FY27 back to Q4 FY17

₹ 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	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 FY17
Revenue from operations	182	144	212	304	141	201	167	151	228	297	295	193	183	225	271	269	345	246	393	174	229	301	141	94.5	166	146	114	178	156	161	128	200	188
Other income	2.4	4.9	3.5	2.5	0.6	3.9	2.6	1.2	3.1	0.7	0.5	2.8	2.5	0.2	1.5	0.3	0.6	0.4	4.1	0.6	0.5	0.6	0.6	0.5	1	0.5	0.5	0.5	1.2	0.5	1.2	0.7	3.3
Total expenses	199	164	226	341	154	206	175	151	228	349	293	202	192	232	275	272	345	251	391	182	227	299	142	106	174	145	122	177	158	160	134	200	188
EBITDA	−11.4	−15.3	−8.3	−25.3	−8	−0.4	−1.8	5.7	4.7	−46	6.7	−3.2	−3.2	−0.4	0.3	1.4	3.7	0	7.3	−1.7	6.8	8.6	4.9	−6.8	−2.6	6.5	−3.9	4.5	3.7	6.8	0.9	5.2	5.5
EBITDA margin	-6.3%	-10.6%	-3.9%	-8.3%	-5.7%	-0.2%	-1.1%	3.7%	2.1%	-15.5%	2.3%	-1.6%	-1.8%	-0.2%	0.1%	0.5%	1.1%	0.0%	1.8%	-1.0%	3.0%	2.8%	3.5%	-7.2%	-1.5%	4.4%	-3.4%	2.6%	2.4%	4.2%	0.7%	2.6%	2.9%
Finance costs	3.5	3.5	4.2	8.7	3.5	3	4.5	3.9	3.3	3.9	3.8	4.1	3.3	4.2	2.3	2.7	1.8	2.8	3.7	3.9	3.9	4.6	3.6	2.9	3.6	3.3	2.7	2.4	3.8	4.1	3.8	3.2	2.5
Depreciation	1.7	1.7	1.5	3.3	1.6	1.5	1.6	1.7	1.8	1.9	1.9	2	2.2	2.9	2	2.1	2	2	2	1.7	1.3	2	1.8	1.6	1.6	1.6	1.7	1.8	1.7	2	2.3	2.3	2.3
Profit before tax	−14.2	−47.4	−13.1	−14.3	−12.5	1.2	−5.3	1.4	0.4	−51.1	1.6	−6.4	−6.2	−7.3	−2.6	−3	0.4	−21.5	5.6	−6.8	1.5	11	0.1	−10.7	−6.7	2.1	−7.8	0.9	−2.4	1.4	−3.9	0.5	4
Tax	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net profit	−14.2	−47.4	−13.1	−14.3	−12.5	1.2	−5.3	1.4	0.4	−51.1	1.6	−6.4	−6.2	−7.3	−2.6	−3	0.4	−21.5	5.6	−6.8	1.5	11	0.1	−10.7	−6.7	2.1	−7.8	0.9	−2.4	1.4	−3.9	0.5	4
Net margin	-7.8%	-32.9%	-6.2%	-4.7%	-8.9%	0.6%	-3.2%	0.9%	0.2%	-17.2%	0.5%	-3.3%	-3.4%	-3.3%	-0.9%	-1.1%	0.1%	-8.7%	1.4%	-3.9%	0.7%	3.7%	0.1%	-11.4%	-4.0%	1.4%	-6.8%	0.5%	-1.5%	0.9%	-3.0%	0.2%	2.1%
EPS (₹)	-0.38	-1.28	-0.36	-0.51	-0.54	0.05	-0.23	0.06	0.02	-2.21	0.07	-0.28	-0.27	-0.32	-0.11	-0.13	0.02	-0.93	0.24	-0.29	0.06	0.48	0.00	-0.46	-0.29	0.09	-0.34	0.04	-0.10	0.06	-0.17	0.02	0.17
Net profit YoY	−13.5%	−4113.6%	−148.8%	−1157.0%	−2938.8%	+102.3%	−440.0%	+121.0%	+107.1%	−598.2%	+160.5%	−112.9%	−1546.5%	+66.0%	–	−153.7%	+106.3%	−1545.0%	+4583.3%	+36.6%	+122.4%	+431.6%	+101.5%	−1320.1%	−179.8%	+49.0%	−99.2%	+83.3%	–	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY17
Revenue from operations	660	747	968	1,110	1,192	766	604	644	216
Other income	10.8	10.7	6.5	2.4	5.3	2.2	2.6	3.6	0.2
Total expenses	732	760	1,037	1,125	1,200	774	618	651	203
EBITDA	−49	8.1	−45.7	5	13.6	13.5	4.6	16.6	18.7
EBITDA margin	-7.4%	1.1%	-4.7%	0.5%	1.1%	1.8%	0.8%	2.6%	8.7%
Finance costs	16.4	14.6	15.1	10.9	14.1	14.9	12	14.8	3.2
Depreciation	6.5	6.6	8	9	7.8	6.7	6.6	8.3	2.7
Profit before tax	−74.7	−2.3	−62.2	−12.5	−20.1	1.9	−11.5	−4.4	14.1
Tax	0	0	0	0	0	0	0	0	0
Net profit	−74.7	−2.3	−62.2	−12.5	−20.1	1.9	−11.5	−4.4	14.1
Net margin	-11.3%	-0.3%	-6.4%	-1.1%	-1.7%	0.2%	-1.9%	-0.7%	6.5%
EPS (₹)	-2.45	-0.10	-2.69	-0.54	-0.87	0.08	-0.50	-0.19	0.67
Net profit YoY	−3149.6%	+96.3%	−398.9%	+37.9%	−1167.6%	+116.4%	−160.5%	–	–

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	−107	31	−4.6	−8.8	24.5
Investing cash flow	−26.2	−7.7	−2.2	7.5	3.1
Financing cash flow	143	−24	8	−0.5	−30.1
Capital expenditure	18.4	1	2.4	0.5	9
Free cash flow (CFO − capex)	−126	30	−7	−9.2	15.5

Net profit trend

annual, ₹ crore

FY21

₹1.9

FY22

₹−20.1−1168%

FY23

₹−12.5+38%

FY24

₹−62.2−399%

FY25

₹−2.3+96%

FY26

₹−74.7−3150%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Standalone	7 Aug 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	20 May 2026	PDF on NSE XBRL
Q3 FY26	Standalone	11 Feb 2026	PDF on NSE XBRL
Q2 FY26	Standalone	–	PDF XBRL
Q2 FY26	Standalone	–	PDF XBRL
Q2 FY26	Standalone	12 Nov 2025	PDF XBRL
Q1 FY26	Standalone	13 Aug 2025	PDF XBRL
Q4 FY25	Standalone · audited	20 May 2025	PDF on NSE XBRL
Q3 FY25	Standalone	14 Feb 2025	PDF on NSE XBRL
Q2 FY25	Standalone	30 Oct 2024	PDF on NSE XBRL

Annual reports

NSE archive

FY256.80 MB FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17 FY16

Key ratios

P/E (TTM)-14.0×

P/B5Y avg 4.31×5.24×

ROEFY26, on average equity-41.1%

Net margin-11.3%

Debt / equity0.31×

Revenue CAGR (3Y)-15.9%

Profit CAGR (3Y)–

EPS (TTM)₹-2.41

Market cap₹1,245 Cr

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

P/B vs history

5.24×

vs 8-point avg 4.31× (+21%)

2.20× low4.31× avg6.66× high

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

Balance sheet 31 Mar 2026

Total assets₹524 Cr−1%

Net worth₹238 Cr+89%

Total borrowings₹74 Cr−27%

Cash & bank balances₹13 Cr+210%

Investments₹45 Cr+2631%

Inventories₹141 Cr−26%

Trade receivables₹137 Cr−10%

Trade payables₹162 Cr−39%

Change vs the same date a year earlier.

Shareholding 30 Jun 2026

%	Jun 26	Mar 26	Dec 25	Oct 25	Sept 25	Aug 25	Jun 25	Mar 25	Dec 24	Sept 24	Jun 24	Mar 24
Promoter	40.51	40.51	40.51	40.51	53.36	53.36	53.36	53.36	53.36	53.36	53.36	53.36
FII	0.04	0.06	0.07	0.02	0.03	0.00	0.00	0.21	0.07	0.00	0.00	0.01
DII	0.08	0.00	0.00	0.01	0.02	0.01	0.01	0.01	0.01	0.02	0.02	0.02
Retail	27.80	27.91	27.65	28.26	37.22	39.00	39.42	39.88	40.41	39.73	38.86	38.59
Other public	31.57	31.52	31.77	31.20	9.37	7.63	7.21	6.54	6.15	6.89	7.76	8.02

73,126 shareholders · NSE shareholding pattern filings.