Quarterly results
consolidated · as filed with NSE · Q1 FY27 back to Q2 FY25
| ₹ crore | Q1 FY27 | Q4 FY26 | Q3 FY26 | Q2 FY26 | Q1 FY26 | Q4 FY25 | Q3 FY25 | Q2 FY25 |
|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 2,463 | 2,230 | 1,936 | 1,837 | 1,821 | 1,621 | 1,713 | 1,527 |
| Other income | 45 | 38.6 | 29.7 | 84.5 | 48.8 | 59.4 | 36.1 | 26.4 |
| Total expenses | 1,888 | 1,676 | 1,461 | 1,454 | 1,467 | 1,312 | 1,399 | 1,278 |
| EBITDA | 714 | 675 | 593 | 561 | 548 | 529 | 514 | 381 |
| EBITDA margin | 29.0% | 30.3% | 30.6% | 30.5% | 30.1% | 32.6% | 30.0% | 24.9% |
| Finance costs | 43.9 | 41.5 | 47.4 | 32.5 | 36.8 | 43.2 | 47 | 42.1 |
| Depreciation | 95.6 | 79.1 | 70.2 | 146 | 158 | 177 | 152 | 89.7 |
| Profit before tax | 620 | 593 | 505 | 467 | 403 | 368 | 351 | 275 |
| Tax | 148 | 141 | 114 | 114 | 95.2 | 90.3 | 95.8 | 69.2 |
| Net profit | 472 | 457 | 392 | 353 | 308 | 278 | 255 | 206 |
| Net margin | 19.2% | 20.5% | 20.2% | 19.2% | 16.9% | 17.1% | 14.9% | 13.5% |
| EPS (₹) | 10.45 | 10.14 | 8.72 | 7.89 | 6.83 | 6.16 | 5.66 | 5.71 |
| Net profit YoY | +53.3% | +64.4% | +53.4% | +71.6% | – | – | – | – |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY26 | FY25 |
|---|---|---|
| Revenue from operations | 7,824 | 6,519 |
| Other income | 202 | 134 |
| Total expenses | 6,058 | 5,413 |
| EBITDA | 2,377 | 1,781 |
| EBITDA margin | 30.4% | 27.3% |
| Finance costs | 158 | 177 |
| Depreciation | 452 | 498 |
| Profit before tax | 1,968 | 1,240 |
| Tax | 464 | 303 |
| Net profit | 1,510 | 937 |
| Net margin | 19.3% | 14.4% |
| EPS (₹) | 33.63 | 21.35 |
| Net profit YoY | +61.1% | – |
EPS is as filed for each period and is not restated for later bonus issues or splits.
Cash flow
annual · ₹ crore| ₹ crore | FY26 | FY25 |
|---|---|---|
| Operating cash flow | 1,261 | 1,348 |
| Investing cash flow | −2,156 | −2,410 |
| Financing cash flow | 1,559 | 1,608 |
| Capital expenditure | 2,998 | 620 |
| Free cash flow (CFO − capex) | −1,737 | 728 |
Net profit trend
annual, ₹ croreFY25
₹937
FY26
₹1,510+61%
Result filings
as filed with NSE · PDF and XBRL| Period | Basis | Filed | Documents |
|---|---|---|---|
| Q1 FY27 | Consolidated | 6 Aug 2026 | PDF on NSE XBRL |
| Q1 FY27 | Standalone | 6 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 | 22 Jan 2026 | PDF XBRL |
| Q3 FY26 | Consolidated | – | PDF on NSE XBRL |
| Q3 FY26 | Standalone | 22 Jan 2026 | PDF on NSE XBRL |
| Q2 FY26 | Consolidated | 28 Oct 2025 | PDF on NSE XBRL |
| Q2 FY26 | Standalone | 28 Oct 2025 | PDF on NSE XBRL |
| Q1 FY26 | Consolidated | 26 Jul 2025 | PDF on NSE XBRL |
Annual reports
NSE archiveKey ratios
P/E (TTM)5Y avg 36.0×24.3×
P/B5Y avg 14.76×9.43×
ROEFY26, on average equity42.3%
Net margin19.3%
Debt / equity0.84×
Revenue CAGR (3Y)–
Profit CAGR (3Y)–
EPS (TTM)₹36.95
Market cap₹40,606 Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
9.43×
vs 4-point avg 14.76× (−36%)
9.38× low14.76× avg21.22× high
History points are balance-sheet dates (2024 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹10,845 Cr+59%
Net worth₹4,308 Cr+53%
Total borrowings₹3,617 Cr+91%
Cash & bank balances₹1,467 Cr+83%
Investments₹406 Cr−52%
Inventories₹2,037 Cr+54%
Trade receivables₹983 Cr+23%
Trade payables₹1,155 Cr+20%
Change vs the same date a year earlier.
Revenue mix Q1 FY27
Solar products & related project activities95.7%result ₹609 Cr
Power Transmission & Distribution Equipment4.3%result ₹24.1 Cr
Segment revenue as reported, before inter-segment eliminations.