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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	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	Q4 FY18
Revenue from operations	2,254	1,871	1,682	1,794	1,739	1,740	1,721	1,739	1,686	1,679	1,496	1,572	1,561	1,667	2,089	2,033	1,886	1,751	1,548	1,440	1,294	1,237	1,227	1,160	1,190	1,092	1,088	1,117	1,162	1,170	1,173	980
Other income	25.5	61.9	27.3	22.8	29.8	17.7	107	100	25.9	16.8	44.7	23.6	12.4	64.2	85.7	74.7	61.2	88.5	19.6	7.2	57.3	14.2	12.7	106	15.4	2.8	73.7	27	61.9	34.6	21.5	17.3
Total expenses	2,068	1,890	1,685	1,793	1,839	1,763	1,687	1,637	1,604	1,674	1,532	1,537	1,586	1,701	1,927	1,750	1,584	1,475	1,359	1,236	1,105	983	1,120	921	1,188	943	951	953	1,041	1,050	1,024	887
EBITDA	296	88.2	105	103	−0.6	63.9	121	191	164	96.6	49.5	121	61.2	55.4	242	360	379	349	257	274	264	329	181	312	89.8	213	198	223	183	179	208	147
EBITDA margin	13.2%	4.7%	6.2%	5.7%	-0.0%	3.7%	7.0%	11.0%	9.7%	5.8%	3.3%	7.7%	3.9%	3.3%	11.6%	17.7%	20.1%	19.9%	16.6%	19.0%	20.4%	26.6%	14.7%	26.9%	7.5%	19.5%	18.2%	19.9%	15.7%	15.3%	17.8%	15.0%
Finance costs	16.9	13.2	13	13	14.1	11.2	11.5	10.6	12.8	10.3	10.3	10	11.8	11.3	7.4	6.6	4.8	4.1	3.7	3.8	4.2	3.9	4.2	5.3	4.7	4	4.2	5.1	7.1	6.6	7.7	16.1
Depreciation	94.4	94.3	94.5	88.8	85.7	76.1	75.6	78.7	69.6	81.9	75.4	75.1	74.7	77.7	72.3	71.2	72.4	69.1	64.5	66.6	71	70.8	69.5	68.5	82.9	60.8	56.2	53.5	55	53.3	51	38.2
Profit before tax	211	42.6	25	23.5	−70.6	−5.6	142	202	107	21.1	8.5	59.1	−12.8	30.5	248	357	363	364	208	211	246	269	120	344	87	151	211	191	183	154	171	110
Tax	39.6	4.9	−4.6	−10	−10.8	3	36.4	37.9	10.3	−10.2	−8.6	10.9	−2.5	10.3	47.6	45.9	58.6	59.2	39	25.3	41.2	44	17.4	14	65.5	27.2	16.8	36.9	5.3	22.1	11.7	5.6
Net profit	171	37.6	29.6	33.5	−59.8	−8.7	105	164	97.1	31.4	17.1	48.3	−10.3	20.3	200	311	304	305	169	186	205	225	102	330	21.5	124	194	154	177	132	159	105
Net margin	7.6%	2.0%	1.8%	1.9%	-3.4%	-0.5%	6.1%	9.4%	5.8%	1.9%	1.1%	3.1%	-0.7%	1.2%	9.6%	15.3%	16.1%	17.4%	10.9%	12.9%	15.8%	18.2%	8.3%	28.5%	1.8%	11.4%	17.8%	13.8%	15.3%	11.3%	13.6%	10.7%
EPS (₹)	29.00	7.90	4.70	7.87	-6.15	3.22	18.40	27.97	17.05	2.68	1.47	8.90	-0.99	2.42	36.64	59.58	59.18	55.89	30.59	35.52	39.92	41.84	24.37	56.26	7.18	22.19	33.48	25.33	31.86	24.15	28.14	18.32
Net profit YoY	+386.0%	+535.0%	−71.8%	−79.6%	−161.6%	−127.6%	+515.9%	+240.1%	+1042.1%	+54.8%	–	−75.9%	−103.3%	−93.3%	+18.2%	+67.5%	+48.6%	+35.8%	+65.7%	−43.7%	+854.2%	+81.4%	−47.4%	+114.1%	−87.9%	−5.9%	+21.9%	–	+69.0%	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Revenue from operations	7,086	6,885	6,307	7,652	6,624	4,918	4,487	4,570	3,588
Other income	87.6	95.4	60.3	95.2	128	59.1	61.4	164	44.2
Total expenses	7,153	6,535	6,291	7,037	5,606	3,999	3,978	4,077	3,318
EBITDA	349	696	365	947	1,308	1,217	781	731	494
EBITDA margin	4.9%	10.1%	5.8%	12.4%	19.7%	24.7%	17.4%	16.0%	13.8%
Finance costs	53.3	46.1	42.4	35.3	16.5	17.6	18	29.1	39.4
Depreciation	363	300	307	296	273	280	253	209	185
Profit before tax	20.4	445	75.9	711	1,147	979	640	657	314
Tax	−20.5	87.6	−10.5	95.3	182	117	146	73.1	29.8
Net profit	40.9	358	86.4	616	965	862	494	584	284
Net margin	0.6%	5.2%	1.4%	8.0%	14.6%	17.5%	11.0%	12.8%	7.9%
EPS (₹)	14.32	66.64	12.05	110.97	181.19	162.57	88.18	103.19	49.85
Net profit YoY	−88.6%	+314.1%	−86.0%	−36.2%	+11.9%	+74.6%	−15.4%	+105.4%	–

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	537	438	455	802	560
Investing cash flow	−509	−473	−796	−115	1.1
Financing cash flow	−133	−37.5	−152	−657	−232
Capital expenditure	405	503	517	273	402
Free cash flow (CFO − capex)	132	−64.7	−61.9	529	158

Net profit trend

annual, ₹ crore

FY21

₹862

FY22

₹965+12%

FY23

₹616−36%

FY24

₹86.4−86%

FY25

₹358+314%

FY26

₹40.9−89%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	11 Aug 2026	PDF on NSE XBRL
Q1 FY27	Standalone	11 Aug 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	23 May 2026	PDF XBRL
Q4 FY26	Standalone · audited	23 May 2026	PDF XBRL
Q3 FY26	Consolidated	13 Feb 2026	PDF XBRL
Q3 FY26	Standalone	13 Feb 2026	PDF XBRL
Q2 FY26	Consolidated	13 Nov 2025	PDF XBRL
Q2 FY26	Standalone	13 Nov 2025	PDF XBRL
Q1 FY26	Consolidated	12 Aug 2025	PDF XBRL
Q1 FY26	Standalone	12 Aug 2025	PDF XBRL

Annual reports

NSE archive

FY2612.29 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 25.4×12.5×

P/B5Y avg 0.98×0.80×

ROEFY26, on average equity1.0%

Net margin0.6%

Debt / equity0.22×

Revenue CAGR (3Y)-2.5%

Profit CAGR (3Y)-59.5%

EPS (TTM)₹86.59

Market cap₹3,410 Cr

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

P/B vs history

0.80×

vs 8-point avg 0.98× (−18%)

0.55× low0.98× avg1.75× high

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

Balance sheet 31 Mar 2026

Total assets₹8,914 Cr+11%

Net worth₹4,240 Cr+13%

Total borrowings₹917 Cr+6%

Cash & bank balances₹323 Cr−19%

Investments₹348 Cr+2%

Inventories₹1,712 Cr+9%

Trade receivables₹1,125 Cr+11%

Trade payables₹626 Cr+23%

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	26.73	26.73	26.73	26.73	26.73	26.69	26.69	26.69	26.69	26.69	26.69	50.97
FII	10.22	9.90	8.97	9.31	7.10	7.67	7.82	7.39	7.08	7.93	8.29	9.41
DII	2.85	2.91	2.90	2.78	2.95	2.82	3.25	2.81	2.43	2.30	2.27	2.25
of which MF	2.09	2.09	2.26	2.26	2.28	–	–	–	–	–	–	–
Retail	28.35	28.40	29.45	29.63	30.44	30.24	29.98	30.64	32.14	32.71	32.54	31.53
Other public	31.85	32.06	31.95	31.55	32.78	32.58	32.26	32.47	31.66	30.37	30.21	5.84

95,075 shareholders · NSE shareholding pattern filings.