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Quarterly results

consolidated · as filed with NSE · Q1 FY27 back to Q2 FY20

₹ 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
Revenue from operations	5,868	5,182	5,424	10,370	5,314	4,485	4,441	3,907	4,266	3,895	4,246	3,715	4,023	3,375	3,166	3,019	3,184	3,224	3,307	3,077	2,847	2,881	2,971	2,740	1,775	2,209	2,012	2,520
Other income	1.8	5.8	2.6	3.4	1.1	1.4	1.1	3.2	3.7	2.2	4.8	0.7	1.1	1.4	2.7	0.9	4.4	2.1	1.6	1.7	1.9	11.9	2.6	3.8	1.9	2.2	1.8	1.9
Total expenses	5,572	4,955	5,210	10,006	5,134	4,365	4,312	3,798	4,168	3,820	4,153	3,632	3,940	3,325	3,092	2,950	3,111	3,164	3,208	2,985	2,775	2,799	2,866	2,652	1,718	2,149	1,930	2,454
EBITDA	349	284	267	470	232	178	184	163	149	123	143	121	120	78.9	96.8	90.1	92.5	79.6	119	111	92.1	101	125	107	75.8	82.3	103	86.6
EBITDA margin	5.9%	5.5%	4.9%	4.5%	4.4%	4.0%	4.1%	4.2%	3.5%	3.1%	3.4%	3.3%	3.0%	2.3%	3.1%	3.0%	2.9%	2.5%	3.6%	3.6%	3.2%	3.5%	4.2%	3.9%	4.3%	3.7%	5.1%	3.4%
Finance costs	11.7	15.4	16.4	32.2	15.9	21.5	19.5	18.8	18.5	16.7	17.7	12.5	12.3	9	6.1	4	3	2.3	3.1	3.1	4.6	4.6	5.4	5.4	6.6	8.5	8.1	7.7
Depreciation	41.2	42.2	37.2	73.6	36.3	36	35.6	35.7	32.9	31.5	31.8	26.1	24.3	19.9	17.1	17.2	16.7	16.4	16.9	16.2	15.4	14.2	13.6	13.3	12.9	13.4	13.1	13.2
Profit before tax	298	233	207	360	174	121	130	112	101	76.6	98.1	83.3	84	51.4	76.4	69.8	77.2	63.1	101	94	74	94.4	108	92.3	58.2	54.1	74.5	61.7
Tax	75.4	57.6	51.5	91.7	44.3	30.8	33.9	29.7	25.1	19.8	24.3	21.4	20.8	14.1	19.4	18	18.9	16.6	23.9	24.8	17.8	20.9	27.6	19.9	14.1	15.6	18.8	−16.9
Net profit	230	179	155	270	131	92.1	95.5	80.7	77.4	53.9	75.2	64.8	68.3	42.6	61.2	54.5	62	50.2	79.1	73.1	60.9	73.5	84.1	74.7	44.9	32.7	59.7	79.9
Net margin	3.9%	3.5%	2.9%	2.6%	2.5%	2.1%	2.2%	2.1%	1.8%	1.4%	1.8%	1.7%	1.7%	1.3%	1.9%	1.8%	1.9%	1.6%	2.4%	2.4%	2.1%	2.6%	2.8%	2.7%	2.5%	1.5%	3.0%	3.2%
EPS (₹)	17.15	13.41	11.57	20.18	9.75	6.88	7.14	6.03	5.79	4.03	5.62	4.85	5.11	3.19	4.58	4.08	4.64	3.75	5.92	5.47	4.56	5.51	6.30	5.42	3.36	2.45	4.48	5.99
Net profit YoY	+75.9%	+94.9%	+62.3%	+234.8%	+68.7%	+70.8%	+27.1%	+24.4%	+13.4%	+26.4%	+22.7%	+19.0%	+10.1%	−15.0%	−22.6%	−25.4%	+1.8%	−31.8%	−5.9%	−2.2%	+35.7%	+125.1%	+40.7%	−6.6%	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20
Revenue from operations	20,976	17,099	15,484	12,744	12,471	10,367	9,418
Other income	11.8	4.9	8.9	9.4	7.4	20.1	9.2
Total expenses	20,172	16,639	15,151	12,479	12,146	10,034	9,130
EBITDA	1,021	674	506	358	402	409	372
EBITDA margin	4.9%	3.9%	3.3%	2.8%	3.2%	3.9%	3.9%
Finance costs	64	73.8	59.1	22.1	13.1	22	31.6
Depreciation	153	140	114	70.9	64.9	53.9	52.5
Profit before tax	800	465	342	275	332	353	273
Tax	201	119	86.3	70.4	83.1	82.5	45.2
Net profit	604	346	262	220	263	277	229
Net margin	2.9%	2.0%	1.7%	1.7%	2.1%	2.7%	2.4%
EPS (₹)	45.16	25.84	19.61	16.48	19.70	20.75	17.16
Net profit YoY	+74.9%	+31.8%	+19.0%	−16.3%	−5.0%	+21.0%	–

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	743	363	183	239	221
Investing cash flow	−266	−171	−242	−705	−107
Financing cash flow	−446	−237	23.7	487	−134
Capital expenditure	245	181	252	734	67.4
Free cash flow (CFO − capex)	498	182	−69.3	−495	154

Net profit trend

annual, ₹ crore

FY21

₹277

FY22

₹263−5%

FY23

₹220−16%

FY24

₹262+19%

FY25

₹346+32%

FY26

₹604+75%

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	6 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	6 May 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	22 Jan 2026	PDF on NSE XBRL
Q3 FY26	Standalone	22 Jan 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	–	PDF on NSE XBRL
Q2 FY26	Consolidated	29 Oct 2025	PDF on NSE XBRL
Q2 FY26	Standalone	29 Oct 2025	PDF on NSE XBRL
Q2 FY26	Standalone	–	PDF on NSE XBRL

Annual reports

NSE archive

FY2614.09 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 78.3×73.2×

P/B5Y avg 9.56×18.40×

ROEFY26, on average equity19.9%

Net margin2.9%

Debt / equity0.10×

Revenue CAGR (3Y)18.1%

Profit CAGR (3Y)40.0%

EPS (TTM)₹62.29

Market cap₹61,019 Cr

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

P/B vs history

18.40×

vs 8-point avg 9.56× (+93%)

6.65× low9.56× avg18.40× high

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

Balance sheet 31 Mar 2026

Total assets₹4,972 Cr+7%

Net worth₹3,316 Cr+20%

Total borrowings₹332 Cr−47%

Cash & bank balances₹70 Cr+75%

Investments₹240 Cr+21%

Inventories₹1,166 Cr+8%

Trade receivables₹1,190 Cr+1%

Trade payables₹326 Cr+4%

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	40.19	40.20	40.20	40.21	40.22	40.23	40.24	40.24	40.26	40.26	40.26	40.26
FII	18.20	17.63	19.82	18.00	17.77	16.94	17.72	18.60	18.82	18.58	19.01	18.19
DII	28.09	27.35	24.03	25.47	25.97	26.78	25.56	24.71	24.48	24.71	23.99	23.93
of which MF	22.05	21.33	18.79	19.55	19.63	–	–	–	–	–	–	–
Retail	9.71	10.84	11.53	11.74	11.41	11.46	11.65	11.73	11.78	11.94	12.24	12.94
Other public	3.81	3.98	4.42	4.58	4.63	4.59	4.83	4.72	4.66	4.51	4.50	4.68

1,47,064 shareholders · NSE shareholding pattern filings.