Quarterly results
consolidated · as filed with NSE · Q1 FY27 back to Q1 FY19
| ₹ 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 | 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 | Q1 FY19 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 5,167 | 4,521 | 4,301 | 4,476 | 4,401 | 3,768 | 3,676 | 3,934 | 4,094 | 3,670 | 4,101 | 4,160 | 4,627 | 5,253 | 5,457 | 5,577 | 4,437 | 4,026 | 3,849 | 3,643 | 3,008 | 2,640 | 2,566 | 2,361 | 2,898 | 2,830 | 2,992 | 3,342 | 3,197 | 3,444 | 3,492 | 3,803 |
| Other income | 33.1 | 46.1 | 50.5 | 35 | 27.5 | 25.3 | 34.3 | 98.9 | 58.7 | 53.7 | 71.9 | 48.7 | 33.3 | 24.8 | 47 | 18.6 | 16.9 | 54.6 | 58.7 | 37.1 | 42.7 | 404 | 11.5 | 26.6 | 12.9 | 92.9 | 21.6 | 24.4 | 19.1 | 15 | 13.7 | 9.3 |
| Total expenses | 4,699 | 4,311 | 4,286 | 4,322 | 4,225 | 3,819 | 3,794 | 4,141 | 4,155 | 3,758 | 5,153 | 4,228 | 4,347 | 5,075 | 5,169 | 4,996 | 3,963 | 3,857 | 3,533 | 3,316 | 2,736 | 2,600 | 2,399 | 2,321 | 2,749 | 2,774 | 2,905 | 3,163 | 3,085 | 3,609 | 3,225 | 3,354 |
| EBITDA | 964 | 697 | 501 | 627 | 629 | 380 | 346 | 216 | 369 | 342 | −612 | 366 | 645 | 534 | 627 | 915 | 792 | 488 | 632 | 650 | 589 | 381 | 497 | 352 | 447 | 364 | 343 | 420 | 352 | 118 | 511 | 692 |
| EBITDA margin | 18.7% | 15.4% | 11.6% | 14.0% | 14.3% | 10.1% | 9.4% | 5.5% | 9.0% | 9.3% | -14.9% | 8.8% | 13.9% | 10.2% | 11.5% | 16.4% | 17.9% | 12.1% | 16.4% | 17.8% | 19.6% | 14.4% | 19.4% | 14.9% | 15.4% | 12.9% | 11.5% | 12.6% | 11.0% | 3.4% | 14.6% | 18.2% |
| Finance costs | 251 | 238 | 232 | 237 | 228 | 224 | 227 | 234 | 245 | 235 | 245 | 242 | 169 | 163 | 150 | 131 | 120 | 119 | 117 | 122 | 120 | 124 | 123 | 124 | 120 | 113 | 113 | 113 | 113 | 114 | 113 | 112 |
| Depreciation | 245 | 249 | 254 | 236 | 225 | 207 | 237 | 189 | 186 | 195 | 195 | 193 | 196 | 193 | 188 | 203 | 198 | 200 | 199 | 201 | 198 | 217 | 207 | 188 | 179 | 195 | 144 | 128 | 127 | 169 | 131 | 132 |
| Profit before tax | 501 | 256 | 65.6 | 189 | 204 | −26 | −84.3 | −108 | −2.2 | −33.9 | −981 | −19.5 | 313 | 203 | 335 | 600 | 490 | 224 | 375 | 364 | 314 | 444 | 179 | 65.9 | 161 | 149 | 108 | 203 | 130 | −150 | 281 | 458 |
| Tax | 160 | 97.9 | 27.9 | 61 | 121 | 89.2 | 51.8 | 47.3 | 42.6 | 82.6 | 99.5 | 46.2 | 107 | 61.2 | 210 | 170 | 177 | 296 | 106 | 98.3 | 83.1 | 123 | 60.8 | 31.5 | 47.5 | 27.5 | 7.6 | 55.9 | 37.2 | −21.5 | 91 | 155 |
| Net profit | 341 | 158 | 37.7 | 130 | 83 | −115 | −134 | −155 | −44.9 | −116 | −1,079 | −65.8 | 207 | 142 | 126 | 429 | 314 | −72.3 | 269 | 266 | 231 | 322 | 118 | 34.4 | 114 | 122 | 101 | 147 | 93.2 | −128 | 190 | 304 |
| Net margin | 6.6% | 3.5% | 0.9% | 2.9% | 1.9% | -3.1% | -3.6% | -3.9% | -1.1% | -3.2% | -26.3% | -1.6% | 4.5% | 2.7% | 2.3% | 7.7% | 7.1% | -1.8% | 7.0% | 7.3% | 7.7% | 12.2% | 4.6% | 1.5% | 3.9% | 4.3% | 3.4% | 4.4% | 2.9% | -3.7% | 5.4% | 8.0% |
| EPS (₹) | 8.81 | 3.61 | 0.40 | 3.15 | 1.80 | -4.09 | -4.80 | -5.33 | -2.31 | -4.34 | -33.26 | -2.68 | 4.93 | 3.13 | 2.66 | 11.99 | 8.25 | 2.88 | 7.00 | 7.00 | 6.13 | 9.13 | 3.51 | 0.79 | 3.17 | 3.41 | 2.44 | 3.74 | 2.05 | -4.14 | 5.20 | 8.76 |
| Net profit YoY | +310.9% | +237.1% | +128.2% | +184.1% | +285.0% | +1.1% | +87.6% | −135.6% | −121.7% | −182.1% | −956.3% | −115.3% | – | −54.8% | +274.2% | +59.7% | +35.8% | −122.5% | +128.0% | +672.4% | +103.0% | +164.7% | +17.0% | −76.6% | +22.1% | +195.2% | −46.8% | −51.7% | – | – | – | – |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 16,946 | 15,374 | 18,141 | 21,011 | 14,527 | 10,465 | 12,361 | 14,049 |
| Other income | 138 | 246 | 179 | 105 | 193 | 455 | 156 | 40.8 |
| Total expenses | 16,652 | 15,848 | 18,804 | 18,789 | 13,443 | 10,070 | 11,926 | 13,095 |
| EBITDA | 2,137 | 1,274 | 933 | 3,536 | 2,361 | 1,677 | 1,481 | 1,966 |
| EBITDA margin | 12.6% | 8.3% | 5.1% | 16.8% | 16.3% | 16.0% | 12.0% | 14.0% |
| Finance costs | 922 | 941 | 819 | 524 | 479 | 490 | 452 | 457 |
| Depreciation | 922 | 807 | 776 | 790 | 798 | 792 | 594 | 555 |
| Profit before tax | 432 | −228 | −484 | 2,327 | 1,277 | 850 | 591 | 995 |
| Tax | 299 | 224 | 314 | 750 | 583 | 263 | 128 | 364 |
| Net profit | 136 | −450 | −796 | 1,577 | 694 | 588 | 462 | 631 |
| Net margin | 0.8% | -2.9% | -4.4% | 7.5% | 4.8% | 5.6% | 3.7% | 4.5% |
| EPS (₹) | 1.26 | -16.78 | -27.89 | 42.77 | 17.25 | 16.60 | 11.64 | 17.29 |
| Net profit YoY | +130.2% | +43.5% | −150.5% | +127.4% | +17.9% | +27.2% | −26.8% | – |
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 | 897 | 1,943 | 3,063 | 1,036 | 834 |
| Investing cash flow | −395 | −212 | −696 | −663 | −527 |
| Financing cash flow | −1,025 | −1,771 | −2,115 | −396 | −740 |
| Capital expenditure | 461 | 653 | 596 | 669 | 548 |
| Free cash flow (CFO − capex) | 437 | 1,290 | 2,468 | 367 | 286 |
Net profit trend
annual, ₹ croreFY21
₹588
FY22
₹694+18%
FY23
₹1,577+127%
FY24
₹−796−150%
FY25
₹−450+43%
FY26
₹136+130%
Result filings
as filed with NSE · PDF and XBRL| Period | Basis | Filed | Documents |
|---|---|---|---|
| Q1 FY27 | Consolidated | 6 Aug 2026 | PDF XBRL |
| Q1 FY27 | Standalone | 6 Aug 2026 | PDF XBRL |
| Q4 FY26 | Consolidated | 8 May 2026 | PDF XBRL |
| Q4 FY26 | Standalone | 8 May 2026 | PDF XBRL |
| Q3 FY26 | Consolidated · audited | 27 Feb 2026 | PDF on NSE XBRL |
| Q3 FY26 | Standalone · audited | 27 Feb 2026 | PDF on NSE XBRL |
| Q2 FY26 | Consolidated | 6 Nov 2025 | PDF XBRL |
| Q2 FY26 | Standalone | 6 Nov 2025 | PDF XBRL |
| Q1 FY26 | Consolidated | 6 Aug 2025 | PDF XBRL |
| Q1 FY26 | Standalone | 6 Aug 2025 | PDF XBRL |
Annual reports
NSE archiveKey ratios
P/E (TTM)5Y avg 19.8×11.1×
P/B5Y avg 0.72×0.92×
ROEFY26, on average equity1.9%
Net margin0.8%
Debt / equity1.35×
Revenue CAGR (3Y)-6.9%
Profit CAGR (3Y)-55.8%
EPS (TTM)₹19.83
Market cap₹7,378 Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
0.92×
vs 8-point avg 0.72× (+28%)
0.64× low0.72× avg0.92× high
History points are balance-sheet dates (2022 → 2026), priced at the adjusted close on each date.
Balance sheet 30 Jun 2026
Total assets₹22,765 Cr+11%
Net worth₹7,995 Cr+14%
Total borrowings₹10,795 Cr+11%
Cash & bank balances₹1,195 Cr−0%
Investments₹11 Cr−16%
Inventories₹4,880 Cr+38%
Trade receivables₹2,489 Cr+21%
Trade payables₹1,472 Cr+15%
Change vs the same date a year earlier.
Revenue mix FY26
Carbon73.7%result ₹1,986 Cr
Advanced Materials20.0%result ₹154 Cr
Cement6.3%result ₹48.2 Cr
Segment revenue as reported, before inter-segment eliminations.