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 | Q1 FY20 | Q4 FY19 | Q4 FY18 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 11,497 | 11,666 | 12,395 | 11,476 | 11,196 | 12,275 | 11,233 | 11,278 | 11,006 | 11,978 | 11,550 | 11,267 | 11,048 | 12,264 | 11,262 | 11,151 | 10,905 | 10,686 | 10,447 | 10,267 | 10,216 | 10,510 | 10,142 | 9,530 | 9,457 | 10,148 | 9,364 | 9,051 | 9,180 | 0 | 0 |
| Other income | 200 | 305 | 204 | 194 | 248 | 315 | 510 | 568 | 273 | 327 | 270 | 263 | 209 | 294 | 268 | 199 | 263 | 382 | 277 | 248 | 175 | 306 | 217 | 301 | 359 | 359 | 177 | 209 | 182 | 0 | 0 |
| Total expenses | 7,112 | 8,069 | 7,314 | 7,733 | 7,114 | 7,550 | 6,829 | 7,310 | 6,643 | 7,066 | 7,076 | 6,977 | 6,689 | 7,143 | 7,787 | 7,229 | 6,911 | 6,715 | 6,460 | 6,236 | 6,546 | 6,208 | 6,349 | 5,986 | 6,277 | 7,198 | 6,436 | 6,303 | 5,982 | 0 | 0 |
| EBITDA | 9,536 | 9,066 | 10,653 | 9,114 | 9,147 | 10,224 | 9,538 | 9,701 | 9,602 | 10,099 | 10,213 | 9,908 | 9,683 | 10,910 | 9,893 | 9,426 | 9,249 | 9,341 | 9,117 | 9,111 | 8,999 | 9,296 | 8,915 | 8,441 | 8,342 | 8,503 | 8,247 | 7,921 | 8,269 | 0 | 0 |
| EBITDA margin | 82.9% | 77.7% | 85.9% | 79.4% | 81.7% | 83.3% | 84.9% | 86.0% | 87.2% | 84.3% | 88.4% | 87.9% | 87.6% | 89.0% | 87.8% | 84.5% | 84.8% | 87.4% | 87.3% | 88.7% | 88.1% | 88.4% | 87.9% | 88.6% | 88.2% | 83.8% | 88.1% | 87.5% | 90.1% | – | – |
| Finance costs | 2,023 | 2,175 | 2,191 | 2,148 | 1,934 | 2,303 | 1,917 | 2,441 | 2,039 | 1,928 | 2,446 | 2,341 | 2,057 | 2,475 | 3,012 | 2,187 | 1,960 | 2,091 | 1,845 | 1,885 | 2,216 | 1,882 | 2,047 | 2,003 | 2,203 | 2,535 | 2,387 | 2,299 | 2,289 | 0 | 0 |
| Depreciation | 3,128 | 3,295 | 3,381 | 3,223 | 3,130 | 3,196 | 3,216 | 3,292 | 3,200 | 3,259 | 3,293 | 3,277 | 3,266 | 3,314 | 3,407 | 3,317 | 3,295 | 3,279 | 3,286 | 3,195 | 3,113 | 3,112 | 3,073 | 2,895 | 2,959 | 3,019 | 2,931 | 2,875 | 2,783 | 0 | 0 |
| Profit before tax | 4,585 | 3,901 | 5,285 | 3,937 | 4,330 | 5,041 | 4,914 | 4,536 | 4,637 | 5,239 | 4,743 | 4,553 | 4,569 | 5,414 | 3,743 | 4,120 | 4,258 | 4,659 | 4,263 | 4,279 | 6,859 | 4,608 | 4,011 | 3,841 | 2,464 | 3,310 | 3,106 | 2,957 | 3,379 | 0 | 0 |
| Tax | 883 | −4,391 | 1,312 | 829 | 868 | 919 | 1,090 | 884 | 879 | 958 | 788 | 574 | 621 | 1,015 | 330 | 410 | 530 | −85.3 | 885 | 592 | 1,394 | 732 | 1,079 | 795 | 858 | 1,020 | 826 | 785 | 900 | 0 | 0 |
| Net profit | 3,598 | 4,546 | 4,185 | 3,566 | 3,631 | 4,143 | 3,862 | 3,793 | 3,724 | 4,166 | 4,028 | 3,781 | 3,597 | 4,320 | 3,645 | 3,650 | 3,801 | 4,156 | 3,293 | 3,376 | 5,998 | 3,526 | 3,368 | 3,094 | 2,048 | 3,313 | 2,672 | 2,571 | 2,503 | 0 | 0 |
| Net margin | 31.3% | 39.0% | 33.8% | 31.1% | 32.4% | 33.7% | 34.4% | 33.6% | 33.8% | 34.8% | 34.9% | 33.6% | 32.6% | 35.2% | 32.4% | 32.7% | 34.9% | 38.9% | 31.5% | 32.9% | 58.7% | 33.6% | 33.2% | 32.5% | 21.7% | 32.7% | 28.5% | 28.4% | 27.3% | – | – |
| EPS (₹) | 3.87 | 4.89 | 4.50 | 3.84 | 3.90 | 4.46 | 4.15 | 4.08 | 4.00 | 4.48 | 4.33 | 4.06 | 5.16 | 6.19 | 5.23 | 5.23 | 5.45 | 5.96 | 4.72 | 4.84 | 8.60 | 6.74 | 6.44 | 5.91 | 3.92 | 6.33 | 5.11 | 4.92 | 4.78 | 0.00 | 0.00 |
| Net profit YoY | −0.9% | +9.7% | +8.4% | −6.0% | −2.5% | −0.6% | −4.1% | +0.3% | +3.5% | −3.6% | +10.5% | +3.6% | −5.4% | +3.9% | +10.7% | +8.1% | −36.6% | +17.9% | −2.2% | +9.1% | +192.8% | +6.4% | +26.0% | +20.3% | −18.2% | – | – | – | – | – | – |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 46,733 | 45,792 | 45,843 | 45,581 | 41,616 | 39,640 | 37,744 | 35,059 | 29,941 |
| Other income | 952 | 1,667 | 1,070 | 1,024 | 1,082 | 1,184 | 927 | 602 | 489 |
| Total expenses | 30,231 | 28,331 | 27,808 | 29,070 | 25,957 | 24,821 | 25,919 | 24,116 | 20,392 |
| EBITDA | 37,979 | 39,065 | 39,903 | 39,478 | 36,567 | 34,993 | 32,940 | 30,221 | 26,105 |
| EBITDA margin | 81.3% | 85.3% | 87.0% | 86.6% | 87.9% | 88.3% | 87.3% | 86.2% | 87.2% |
| Finance costs | 8,448 | 8,700 | 8,773 | 9,634 | 8,036 | 8,135 | 9,509 | 8,737 | 7,324 |
| Depreciation | 13,030 | 12,904 | 13,095 | 13,333 | 12,872 | 12,039 | 11,607 | 10,541 | 9,231 |
| Profit before tax | 17,453 | 19,128 | 19,105 | 17,535 | 20,061 | 14,924 | 12,752 | 11,545 | 10,039 |
| Tax | −1,381 | 3,773 | 2,941 | 2,285 | 2,786 | 3,464 | 3,531 | −886 | 2,195 |
| Net profit | 15,928 | 15,521 | 15,573 | 15,417 | 16,824 | 12,036 | 11,059 | 10,034 | 8,198 |
| Net margin | 34.1% | 33.9% | 34.0% | 33.8% | 40.4% | 30.4% | 29.3% | 28.6% | 27.4% |
| EPS (₹) | 17.13 | 16.69 | 16.74 | 22.10 | 24.12 | 23.01 | 21.14 | 19.18 | 15.67 |
| Net profit YoY | +2.6% | −0.3% | +1.0% | −8.4% | +39.8% | +8.8% | +10.2% | +22.4% | – |
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 | 40,931 | 36,223 | 37,290 | 38,005 | 26,124 |
| Investing cash flow | −35,305 | −23,533 | −13,114 | −6,126 | 753 |
| Financing cash flow | −4,006 | −12,357 | −25,903 | −29,264 | −28,967 |
| Capital expenditure | 37,279 | 22,614 | 9,323 | 5,242 | 7,632 |
| Free cash flow (CFO − capex) | 3,651 | 13,609 | 27,966 | 32,763 | 18,491 |
Net profit trend
annual, ₹ croreFY21
₹12,036
FY22
₹16,824+40%
FY23
₹15,417−8%
FY24
₹15,573+1%
FY25
₹15,521−0%
FY26
₹15,928+3%
Result filings
as filed with NSE · PDF and XBRL| Period | Basis | Filed | Documents |
|---|---|---|---|
| Q1 FY27 | Consolidated | 5 Aug 2026 | PDF on NSE XBRL |
| Q1 FY27 | Standalone | 5 Aug 2026 | PDF on NSE XBRL |
| Q4 FY26 | Consolidated | 15 May 2026 | PDF on NSE XBRL |
| Q4 FY26 | Standalone | 15 May 2026 | PDF on NSE XBRL |
| Q3 FY26 | Consolidated | 30 Jan 2026 | PDF on NSE XBRL |
| Q3 FY26 | Standalone | 30 Jan 2026 | PDF on NSE XBRL |
| Q2 FY26 | Consolidated | 3 Nov 2025 | PDF on NSE XBRL |
| Q2 FY26 | Standalone | 3 Nov 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 archiveKey ratios
P/E (TTM)5Y avg 15.4×15.8×
P/B5Y avg 2.58×2.49×
ROEFY26, on average equity16.5%
Net margin34.1%
Debt / equity1.47×
Revenue CAGR (3Y)0.8%
Profit CAGR (3Y)1.1%
EPS (TTM)₹17.09
Market cap₹2.51L Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
2.49×
vs 8-point avg 2.58× (−3%)
1.80× low2.58× avg3.56× high
History points are balance-sheet dates (2022 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹2.95L Cr+11%
Net worth₹1L Cr+8%
Total borrowings₹1.48L Cr+13%
Cash & bank balances₹5,281 Cr+39%
Investments₹1,671 Cr+35%
Inventories₹2,126 Cr+18%
Trade receivables₹11,673 Cr+47%
Trade payables₹956 Cr+54%
Change vs the same date a year earlier.
Revenue mix FY26
Transmission92.6%result ₹26,353 Cr
Consultancy4.9%result ₹403 Cr
Telecom2.5%result ₹566 Cr
Segment revenue as reported, before inter-segment eliminations.