Quarterly results
standalone · 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 | Q3 FY19 | Q2 FY19 | Q1 FY19 | Q4 FY18 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 9.7 | 7.9 | 8.8 | 6.8 | 9.2 | 11.3 | 12.4 | 9 | 11.4 | 13 | 13.3 | 9.1 | 11.7 | 13.4 | 20.1 | 21.6 | 45.7 | 30 | 88.2 | 106 | 106 | 139 | 54 | 27 | 44.7 | 93.1 | 96.8 | 67.7 | 78.8 | 95.6 | 139 | 156 | 113 | 111 |
| Other income | 1.7 | 2.1 | 1.7 | 2.2 | 1 | 1.5 | 1.3 | 1.1 | 0.9 | 0.5 | 0.5 | 0.4 | 0 | 1.5 | 0.1 | 0.2 | 1.4 | 2.1 | 0.2 | 0.1 | 0.1 | 2.3 | 0.2 | 0.2 | 0.1 | 1.3 | 0 | 0.6 | 1.8 | 1.4 | 0.1 | 0.2 | 0 | 3.7 |
| Total expenses | 20.8 | 19.9 | 18.5 | 17 | 18.3 | 19.4 | 20.7 | 17.8 | 19.6 | 20.7 | 20.6 | 19.3 | 20.7 | 12.8 | 27 | 30.7 | 49 | 39.7 | 110 | 133 | 120 | 140 | 83 | 56.1 | 65.5 | 105 | 106 | 81.3 | 93 | 87.8 | 124 | 141 | 114 | 120 |
| EBITDA | −0.7 | −1.7 | 0.7 | 0.2 | 1 | 1.8 | 2 | 1.4 | 1.9 | 2.4 | 3 | 0.2 | 1 | 1.7 | 2.5 | 0.4 | 6.4 | 0 | −4.4 | −9.1 | 3.7 | 15.5 | −13.1 | −13.7 | −4.9 | 2.7 | 5.7 | 0.8 | −0.4 | 21.5 | 28.4 | 27.3 | 11.3 | 4.1 |
| EBITDA margin | -7.7% | -22.1% | 8.3% | 3.2% | 11.0% | 15.9% | 15.8% | 15.6% | 16.3% | 18.8% | 22.3% | 1.9% | 8.4% | 12.4% | 12.5% | 1.8% | 14.0% | 0.0% | -5.0% | -8.6% | 3.5% | 11.2% | -24.2% | -51.0% | -10.9% | 2.9% | 5.9% | 1.1% | -0.6% | 22.5% | 20.4% | 17.5% | 10.0% | 3.7% |
| Finance costs | 9.2 | 9.3 | 9.3 | 9.3 | 9 | 8.9 | 9.1 | 9.1 | 9 | 9.1 | 9.2 | 9.3 | 9 | 0 | 2.3 | 2.3 | 2.6 | 2.7 | 10.2 | 10.8 | 10.3 | 9.4 | 8.9 | 8.9 | 9.5 | 8.1 | 8.1 | 8 | 7.9 | 8 | 7.3 | 6.8 | 6.6 | 7.6 |
| Depreciation | 1.1 | 1 | 1.1 | 1 | 1 | 1 | 1.1 | 1.1 | 1 | 1 | 1 | 1.1 | 1 | 1.1 | 7.2 | 7.2 | 7.1 | 7.1 | 7.1 | 7.2 | 7.1 | 6.9 | 7.1 | 6.5 | 6.5 | 6.4 | 6.4 | 6.3 | 5.8 | 5.7 | 5.9 | 5.9 | 5.8 | 5.7 |
| Profit before tax | −9.4 | −9.9 | −8 | −8 | −8.1 | −6.6 | −7 | −7.7 | −7.3 | −7.2 | −6.9 | −9.8 | −9 | 2 | −6.8 | −8.9 | −2 | −7.6 | −21.4 | −27 | −13.7 | 1.6 | −28.8 | −29 | −20.8 | −10.6 | −8.8 | −12.9 | −12.4 | 9.2 | 15.3 | 14.8 | −1 | −5.5 |
| Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | −4.5 | 5.5 | −1 | 0 | 3.1 |
| Net profit | −10.5 | −37.9 | −10.1 | −10.2 | −10.3 | −5.4 | −80.6 | −10.1 | −10.2 | −15.1 | −10.1 | −12.5 | −10.6 | −100 | −6.8 | −8.9 | −2 | −7.6 | −21.4 | −27 | −13.7 | 1.6 | −28.8 | −29 | −20.8 | −10.6 | −8.8 | −12.9 | −12.4 | 13.7 | 9.7 | 15.8 | −1 | −8.6 |
| Net margin | -108.0% | -481.7% | -114.7% | -149.3% | -112.0% | -47.3% | -648.8% | -111.7% | -90.0% | -116.5% | -76.1% | -137.9% | -90.7% | -750.7% | -33.9% | -41.0% | -4.3% | -25.3% | -24.3% | -25.6% | -12.9% | 1.2% | -53.4% | -107.5% | -46.4% | -11.3% | -9.1% | -19.1% | -15.7% | 14.3% | 7.0% | 10.2% | -0.9% | -7.8% |
| EPS (₹) | -0.64 | -0.67 | -0.54 | -0.54 | -0.55 | -0.45 | -0.47 | -0.52 | -0.50 | -0.49 | -0.47 | -0.66 | -0.61 | 0.14 | -0.46 | -0.60 | -0.13 | -0.51 | -1.45 | -1.83 | -0.93 | 0.11 | -1.95 | -1.96 | -1.41 | -0.72 | -0.59 | -0.88 | -0.84 | 0.93 | 0.66 | 1.07 | -0.07 | -0.58 |
| Net profit YoY | −2.2% | −608.0% | +87.4% | −1.4% | −0.4% | +64.6% | −699.5% | +19.7% | +3.6% | +84.9% | −48.2% | −41.2% | −442.9% | −1226.2% | +68.2% | +67.2% | +85.7% | −572.3% | +25.7% | +6.8% | +34.0% | +115.2% | −228.8% | −123.8% | −67.9% | −177.1% | −190.0% | −181.8% | −1103.6% | +258.9% | – | – | – | – |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 32.7 | 44.1 | 47 | 46.7 | 330 | 265 | 337 | 504 | 434 |
| Other income | 6.9 | 4.7 | 1.3 | 1.6 | 2.5 | 2.7 | 3.7 | 1.7 | 5.9 |
| Total expenses | 73.6 | 77.4 | 81.3 | 46.4 | 402 | 345 | 385 | 467 | 472 |
| EBITDA | 0.2 | 7 | 6.6 | 4.4 | −9.8 | −16.2 | 8.7 | 88.4 | 9.9 |
| EBITDA margin | 0.7% | 15.9% | 13.9% | 9.5% | -3.0% | -6.1% | 2.6% | 17.6% | 2.3% |
| Finance costs | 36.9 | 36.1 | 36.6 | 0 | 33.9 | 36.6 | 32.1 | 28.6 | 24.8 |
| Depreciation | 4.2 | 4.2 | 4.1 | 4.2 | 28.5 | 26.9 | 25 | 23.3 | 23 |
| Profit before tax | −33.9 | −28.6 | −32.9 | 1.9 | −69.7 | −77 | −44.6 | 38.2 | −31.9 |
| Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | −2 |
| Net profit | −68.5 | −106 | −48.4 | −118 | −69.7 | −77 | −44.6 | 38.2 | −29.9 |
| Net margin | -209.5% | -240.8% | -102.8% | -253.1% | -21.1% | -29.1% | -13.3% | 7.6% | -6.9% |
| EPS (₹) | -2.30 | -1.94 | -2.23 | 0.13 | -4.73 | -5.22 | -3.03 | 2.59 | -2.03 |
| Net profit YoY | +35.5% | −119.8% | +59.1% | −69.5% | +9.4% | −72.4% | −216.8% | +227.8% | – |
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 | −1.1 | 9.2 | 13.2 | 30 | 10.7 |
| Investing cash flow | 20.5 | 3.8 | 6.3 | 2 | −9.6 |
| Financing cash flow | −18.5 | −13.1 | −19.4 | −32 | −1.5 |
| Capital expenditure | 0 | 0 | 0.3 | 0 | 9.7 |
| Free cash flow (CFO − capex) | −1.1 | 9.2 | 12.9 | 30 | 1.1 |
Net profit trend
annual, ₹ croreFY21
₹−77
FY22
₹−69.7+9%
FY23
₹−118−70%
FY24
₹−48.4+59%
FY25
₹−106−120%
FY26
₹−68.5+36%
Result filings
as filed with NSE · PDF and XBRL| Period | Basis | Filed | Documents |
|---|---|---|---|
| Q1 FY27 | Standalone | 13 Aug 2026 | PDF on NSE XBRL |
| Q4 FY26 | Standalone · audited | 25 May 2026 | PDF on NSE XBRL |
| Q3 FY26 | Standalone | 7 Feb 2026 | PDF on NSE XBRL |
| Q2 FY26 | Standalone | 13 Nov 2025 | PDF on NSE XBRL |
| Q1 FY26 | Standalone | 12 Aug 2025 | PDF on NSE XBRL |
| Q4 FY25 | Standalone · audited | 30 May 2025 | PDF XBRL |
| Q3 FY25 | Standalone | 5 Feb 2025 | PDF on NSE XBRL |
| Q2 FY25 | Standalone | 11 Nov 2024 | PDF on NSE XBRL |
| Q1 FY25 | Standalone | 14 Aug 2024 | PDF on NSE XBRL |
| Q4 FY24 | Standalone · audited | 21 May 2024 | PDF on NSE XBRL |
Annual reports
NSE archiveKey ratios
P/E (TTM)-6.7×
P/B5Y avg 2.08×-5.55×
ROEFY26, on average equity141.7%
Net margin-209.5%
Debt / equity-4.55×
Revenue CAGR (3Y)-11.2%
Profit CAGR (3Y)–
EPS (TTM)₹-4.66
Market cap₹459 Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
-5.55×
vs 8-point avg 2.08× (−367%)
-5.55× low2.08× avg4.12× high
History points are balance-sheet dates (2022 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹465 Cr−10%
Net worth₹-83 Cr−486%
Total borrowings₹376 Cr+4%
Cash & bank balances₹1 Cr+1858%
Investments₹0 Cr−30%
Inventories₹5 Cr+16%
Trade receivables₹6 Cr+20%
Trade payables₹11 Cr+152%
Change vs the same date a year earlier.
Revenue mix Q3 FY23
Packaged Water Bottling66.6%result ₹1.5 Cr
Newsprint, Writing & Printing paper and Kraft paper33.4%result ₹−5.8 Cr
Segment revenue as reported, before inter-segment eliminations.