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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	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	2,675	4,074	3,873	2,432	2,307	1,528	1,655	2,304	1,862	2,164	1,796	2,236	1,681	2,632	2,317	1,428	1,939	2,400	1,345	1,416	2,268	1,848	1,875	1,274	1,982	2,681	1,923	1,539	1,979	1,078	1,323	1,849
Other income	161	69.7	12.9	266	161	60.9	43.4	119	162	68.5	175	1,020	285	306	30.5	47	73.3	89.3	47.8	57.6	92.5	80.6	41.7	22.6	34.6	15.4	39.8	28.7	15	25.5	40.3	13
Total expenses	2,460	3,696	3,630	2,126	2,014	1,490	1,614	2,230	1,602	1,957	1,717	2,082	1,558	2,353	2,114	1,408	1,808	2,205	1,247	1,315	2,098	1,781	1,750	1,245	1,918	2,388	1,738	1,415	1,792	1,000	1,219	1,680
EBITDA	860	1,046	860	910	894	541	590	631	796	828	552	593	527	682	574	369	462	500	392	345	550	448	535	439	500	719	610	528	488	344	366	334
EBITDA margin	32.1%	25.7%	22.2%	37.4%	38.7%	35.4%	35.7%	27.4%	42.8%	38.2%	30.7%	26.5%	31.3%	25.9%	24.8%	25.8%	23.8%	20.8%	29.1%	24.4%	24.3%	24.2%	28.5%	34.5%	25.2%	26.8%	31.7%	34.3%	24.7%	31.9%	27.7%	18.1%
Finance costs	418	430	384	385	384	286	345	357	346	424	293	264	238	235	201	186	185	174	180	132	258	241	244	247	258	260	264	241	198	179	187	127
Depreciation	226	238	234	219	216	217	205	200	191	197	180	174	166	168	170	163	147	131	115	113	122	141	166	164	177	166	161	163	102	87	75.9	38.7
Profit before tax	376	448	256	572	455	99.2	83.7	194	422	275	253	1,174	408	597	234	213	353	1,092	145	158	1,732	147	166	51.1	98.7	309	225	191	203	103	143	182
Tax	94.3	121	33.6	127	127	44	44.5	−51.9	102	78.6	72.3	256	86.3	115	70.4	62.5	99.6	153	48.5	50.5	381	48	60.5	29.9	39.2	95.2	72.8	71.1	68.4	41.9	50.6	68.7
Net profit	271	292	245	457	312	43.1	32.2	235	307	236	165	910	318	505	162	149	251	945	93.7	92.5	1,351	87.8	93.8	20	51.1	216	157	124	142	67.4	102	116
Net margin	10.1%	7.2%	6.3%	18.8%	13.5%	2.8%	1.9%	10.2%	16.5%	10.9%	9.2%	40.7%	18.9%	19.2%	7.0%	10.4%	13.0%	39.4%	7.0%	6.5%	59.5%	4.8%	5.0%	1.6%	2.6%	8.1%	8.2%	8.1%	7.2%	6.3%	7.7%	6.3%
EPS (₹)	5.48	5.81	5.17	9.99	6.79	0.58	0.41	4.70	5.80	3.49	2.90	21.22	6.66	11.68	3.19	3.51	5.11	23.43	1.89	1.43	33.33	1.46	1.49	0.04	0.39	4.31	2.95	3.07	3.71	1.55	2.58	2.86
Net profit YoY	−12.9%	+577.0%	+659.9%	+95.0%	+1.5%	−81.7%	−80.4%	−74.2%	−3.4%	−53.3%	+1.9%	+512.6%	+26.6%	−46.5%	–	+58.6%	+171.5%	−30.0%	−0.1%	+362.5%	+2542.9%	−59.4%	−40.3%	−83.9%	−64.0%	+221.1%	+53.8%	–	+22.8%	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Revenue from operations	12,685	7,349	7,877	8,315	6,390	7,264	8,125	5,172	5,499
Other income	510	386	1,548	457	211	237	119	112	67.9
Total expenses	11,465	6,937	7,314	7,682	5,882	6,875	7,459	4,764	4,942
EBITDA	3,709	2,559	2,498	2,086	1,534	1,972	2,356	1,454	1,094
EBITDA margin	29.2%	34.8%	31.7%	25.1%	24.0%	27.1%	29.0%	28.1%	19.9%
Finance costs	1,582	1,334	1,219	807	555	990	1,023	723	383
Depreciation	906	812	717	647	471	593	667	323	155
Profit before tax	1,731	799	2,111	1,398	1,526	2,097	823	610	625
Tax	408	139	494	348	295	520	278	199	214
Net profit	1,305	617	1,629	1,067	1,215	1,602	549	442	425
Net margin	10.3%	8.4%	20.7%	12.8%	19.0%	22.1%	6.8%	8.5%	7.7%
EPS (₹)	27.76	11.19	34.28	23.49	28.69	36.32	10.63	11.08	9.90
Net profit YoY	+111.6%	−62.1%	+52.7%	−12.2%	−24.2%	+192.0%	+24.1%	+4.1%	–

EPS is as filed for each period and is not restated for later bonus issues or splits.

Cash flow

annual · ₹ crore

₹ crore	FY26	FY25	FY24	FY23	FY22
Operating cash flow	3,223	131	1,297	1,540	2,140
Investing cash flow	−5,636	−1,348	−2,548	−2,756	−4,045
Financing cash flow	1,959	959	1,969	546	1,628
Capital expenditure	0	1,583	1,907	1,650	2,270
Free cash flow (CFO − capex)	3,223	−1,452	−609	−111	−131

Net profit trend

annual, ₹ crore

FY21

₹1,602

FY22

₹1,215−24%

FY23

₹1,067−12%

FY24

₹1,629+53%

FY25

₹617−62%

FY26

₹1,305+112%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	29 Jul 2026	PDF on NSE XBRL
Q1 FY27	Consolidated	–	PDF on NSE XBRL
Q1 FY27	Standalone	–	PDF on NSE XBRL
Q1 FY27	Standalone	29 Jul 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	21 May 2026	PDF XBRL
Q4 FY26	Standalone · audited	21 May 2026	PDF XBRL
Q3 FY26	Consolidated	29 Jan 2026	PDF XBRL
Q3 FY26	Standalone	29 Jan 2026	PDF XBRL
Q2 FY26	Consolidated	12 Nov 2025	PDF on NSE XBRL
Q2 FY26	Standalone	12 Nov 2025	PDF on NSE XBRL

Annual reports

NSE archive

FY2627.42 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 41.8×50.3×

P/B5Y avg 3.23×3.91×

ROEFY26, on average equity8.2%

Net margin10.3%

Debt / equity0.92×

Revenue CAGR (3Y)15.1%

Profit CAGR (3Y)7.0%

EPS (TTM)₹29.38

Market cap₹63,649 Cr

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

P/B vs history

3.91×

vs 8-point avg 3.23× (+21%)

1.74× low3.23× avg4.80× high

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

Balance sheet 31 Mar 2026

Total assets₹73,368 Cr+25%

Net worth₹16,273 Cr+6%

Total borrowings₹14,986 Cr+41%

Cash & bank balances₹1,556 Cr−23%

Investments₹1,725 Cr+94%

Inventories₹40,252 Cr+26%

Trade receivables₹2,042 Cr+50%

Trade payables₹2,505 Cr+34%

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	Sept 24	Jun 24	Mar 24	Dec 23
Promoter	60.94	60.94	60.94	60.94	60.94	60.94	60.94	60.94	60.94	65.48	65.48	65.48
FII	13.27	14.20	15.72	15.75	16.65	17.08	19.30	19.12	18.34	16.83	16.06	18.07
DII	23.51	22.59	20.96	20.68	19.64	19.23	16.73	16.75	17.41	14.42	14.97	13.17
of which MF	18.78	18.19	15.88	15.52	15.25	–	–	–	–	–	–	–
Retail	1.79	1.82	1.86	2.07	2.21	2.21	2.40	2.56	2.63	2.63	2.86	2.64
Other public	0.49	0.45	0.52	0.56	0.56	0.54	0.63	0.63	0.68	0.64	0.63	0.64

1,84,847 shareholders · NSE shareholding pattern filings.