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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	Q4 FY19	Q4 FY18
Revenue from operations	103	119	122	132	142	151	158	163	161	176	204	190	190	194	194	196	207	228	229	242	254	274	269	295	292	333	332	331	0
Other income	0	0	3.3	0	0.3	4.6	0.1	0	0	0.5	0	11.6	3.5	6	0	0	0.2	3.3	12.4	0.2	0	0.3	0.1	2.7	5.8	0.1	0	0.2	0
Total expenses	49.1	57.5	58.4	14.2	−4.1	80.1	77.5	100	102	158	137	122	144	154	145	126	140	198	232	172	193	305	236	250	256	318	266	274	0
EBITDA	94.5	107	123	177	213	144	160	148	149	113	172	177	156	146	158	179	182	167	135	214	228	137	217	244	244	239	298	303	0
EBITDA margin	91.4%	90.1%	100.9%	134.3%	150.2%	95.6%	101.4%	90.6%	92.5%	63.8%	84.2%	92.9%	82.1%	75.2%	81.4%	91.2%	87.8%	73.2%	58.8%	88.6%	89.8%	49.9%	80.7%	82.6%	83.5%	71.8%	89.9%	91.6%	–
Finance costs	38.5	43.9	57.6	57.6	65.3	71.7	78.1	83.1	88.2	92.1	103	107	108	105	108	107	113	135	136	143	166	166	183	197	206	223	230	245	0
Depreciation	1.7	1.8	1.9	1.9	1.8	1.8	1.6	1.6	1.6	1.6	1.8	1.6	1.5	1.6	1.5	1.5	1.5	1.6	1.6	1.5	1.4	1.5	1.5	1.5	1.5	1.6	1.6	0.7	0
Profit before tax	54.3	61.6	64.2	118	146	75.1	80.7	63.4	59.3	19.3	67.5	80	49.2	45.5	49	70.3	67.7	33.5	9.5	70	60.9	−30.5	32.9	48.5	42.6	14.4	66.1	57.2	0
Tax	14	16.1	15.1	29.5	9.7	16.9	13.5	16.1	14.9	5.4	17.1	20.2	12.5	9	12.8	17.6	17.1	8.5	2.6	17.5	15.3	23.1	12.1	16.6	16	7.4	23	20.5	0
Net profit	40.2	45.5	49.1	88.1	137	58.2	67.1	47.3	44.4	13.8	50.4	59.8	36.8	36.4	36.2	52.7	50.6	25	6.9	52.5	45.6	−53.7	20.9	31.9	26.6	7.1	43.1	36.8	0
Net margin	39.0%	38.2%	40.3%	66.9%	96.3%	38.6%	42.5%	29.0%	27.5%	7.8%	24.7%	31.4%	19.4%	18.8%	18.6%	26.9%	24.4%	11.0%	3.0%	21.7%	18.0%	-19.6%	7.7%	10.8%	9.1%	2.1%	13.0%	11.1%	–
EPS (₹)	0.63	0.71	0.76	1.37	2.13	0.91	1.05	0.74	0.69	0.22	0.79	0.93	0.57	0.57	0.56	0.82	0.79	0.39	0.11	0.82	0.71	-0.84	0.32	0.50	0.41	0.11	0.67	0.58	0.00
Net profit YoY	−70.5%	−21.8%	−26.9%	+86.2%	+207.7%	+320.0%	+33.3%	−20.8%	+20.8%	−62.0%	+39.2%	+13.5%	−27.3%	+45.8%	+421.7%	+0.4%	+10.9%	+146.6%	−66.7%	+64.7%	+71.7%	−860.9%	−51.6%	–	–	−80.8%	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Revenue from operations	515	633	761	791	953	1,131	1,364	1,334	1,190
Other income	3.7	4.6	15.5	6.2	15.9	8.9	5.5	2.1	0.6
Total expenses	126	359	560	565	795	1,046	1,198	1,056	1,085
EBITDA	620	602	617	664	744	842	1,121	1,226	790
EBITDA margin	120.6%	95.0%	81.1%	84.0%	78.1%	74.5%	82.2%	91.9%	66.4%
Finance costs	224	321	410	432	580	752	948	944	683
Depreciation	7.4	6.6	6.5	6.1	6.1	6	6.3	2.7	3.3
Profit before tax	390	279	216	232	174	93.4	172	281	105
Tax	70.3	61.5	55.2	56.6	43.9	67.8	62	96.9	80.2
Net profit	319	217	161	176	130	25.6	110	184	24.7
Net margin	62.1%	34.3%	21.1%	22.2%	13.6%	2.3%	8.1%	13.8%	2.1%
EPS (₹)	4.97	3.38	2.50	2.74	2.02	0.40	1.71	2.87	0.38
Net profit YoY	+47.1%	+35.0%	−8.6%	+35.3%	+407.7%	−76.7%	−40.3%	+645.4%	–

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	1,780	1,139	2,563	1,887	2,721
Investing cash flow	−1,165	776	−689	259	−154
Financing cash flow	−1,316	−1,383	−1,669	−2,459	−2,719
Capital expenditure	0.3	2.9	0.6	0.4	1.5
Free cash flow (CFO − capex)	1,780	1,136	2,562	1,887	2,720

Net profit trend

annual, ₹ crore

FY21

₹25.6

FY22

₹130+408%

FY23

₹176+35%

FY24

₹161−9%

FY25

₹217+35%

FY26

₹319+47%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	28 Jul 2026	PDF on NSE XBRL
Q1 FY27	Standalone	28 Jul 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	5 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	5 May 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	20 Jan 2026	PDF XBRL
Q3 FY26	Standalone	20 Jan 2026	PDF XBRL
Q2 FY26	Consolidated	23 Oct 2025	PDF on NSE XBRL
Q2 FY26	Standalone	23 Oct 2025	PDF on NSE XBRL
Q1 FY26	Consolidated	30 Jul 2025	PDF on NSE XBRL
Q1 FY26	Standalone	30 Jul 2025	PDF on NSE XBRL

Annual reports

NSE archive

FY2619.99 MB FY257.63 MB FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 8.5×7.6×

P/B5Y avg 0.68×0.55×

ROEFY26, on average equity10.9%

Net margin62.1%

Debt / equity0.57×

Revenue CAGR (3Y)-13.3%

Profit CAGR (3Y)22.0%

EPS (TTM)₹3.47

Market cap₹1,694 Cr

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

P/B vs history

0.55×

vs 10-point avg 0.68× (−19%)

0.33× low0.68× avg1.22× high

History points are balance-sheet dates (2021 → 2026), priced at the adjusted close on each date.

Balance sheet 31 Mar 2026

Total assets₹4,956 Cr−13%

Net worth₹3,080 Cr+12%

Total borrowings₹1,749 Cr−37%

Cash & bank balances₹61 Cr−92%

Investments₹832 Cr+210%

Inventories₹0 Cr

Trade receivables₹1 Cr+67%

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	64.99	64.99	64.99	64.99	64.99	64.99	64.99	64.99	64.99	64.99	64.99	64.99
FII	2.03	2.13	2.17	2.19	2.22	2.08	2.03	2.05	2.35	2.62	2.66	2.01
DII	5.05	5.05	5.06	5.06	5.08	5.43	5.48	5.00	2.86	2.68	2.31	2.21
of which MF	3.64	3.64	3.65	3.65	3.67	–	–	–	–	–	–	–
Retail	23.81	23.85	24.07	24.04	24.02	23.97	23.93	23.97	25.94	25.88	25.84	26.35
Other public	4.12	3.98	3.71	3.72	3.69	3.53	3.57	3.99	3.86	3.83	4.20	4.44

1,31,972 shareholders · NSE shareholding pattern filings.