Quarterly results
consolidated · as filed with NSE · Q1 FY27 back to Q4 FY22
| ₹ 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 823 | 707 | 715 | 703 | 698 | 633 | 639 | 632 | 647 | 597 | 604 | 625 | 611 | 514 | 526 | 525 | 489 | 400 |
| Other income | 19.8 | 8 | 10.3 | 8.2 | 22 | 7.8 | 8.8 | 0.1 | 13.7 | 4.6 | 3.5 | 3.3 | 7.1 | 4.3 | 8 | 10.7 | 13 | 9.5 |
| Total expenses | 875 | 762 | 771 | 775 | 765 | 701 | 703 | 698 | 713 | 694 | 648 | 679 | 672 | 598 | 590 | 591 | 553 | 466 |
| EBITDA | 100 | 95 | 89.5 | 71 | 72.8 | 73.2 | 69.6 | 63.2 | 63.1 | 69.2 | 68.4 | 56.2 | 48.3 | 27.4 | 29.7 | 25.1 | 29.2 | 20.2 |
| EBITDA margin | 12.2% | 13.4% | 12.5% | 10.1% | 10.4% | 11.6% | 10.9% | 10.0% | 9.8% | 11.6% | 11.3% | 9.0% | 7.9% | 5.3% | 5.6% | 4.8% | 6.0% | 5.1% |
| Finance costs | 49.5 | 49.8 | 47.1 | 45.6 | 46.8 | 45.7 | 39.7 | 38 | 37.4 | 47.3 | 31.7 | 31.5 | 30.7 | 32 | 25.9 | 24.1 | 23.1 | 27.1 |
| Depreciation | 104 | 101 | 98.4 | 96.9 | 93.4 | 95.8 | 93.4 | 90.7 | 91.6 | 119 | 80.1 | 78.6 | 78.7 | 79.6 | 67.6 | 66.8 | 70 | 59.1 |
| Profit before tax | −33 | −47.4 | −47.9 | −63.3 | −45.4 | −60.4 | −54.7 | −65.5 | −52.2 | −92.1 | −39.9 | −50.7 | −54.1 | −80 | −55.9 | −55.1 | −50.9 | −81.5 |
| Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net profit | −33 | −47.4 | −47.9 | −63.3 | −45.4 | −60.4 | −54.7 | −65.5 | −52.2 | −92.1 | −39.9 | −50.7 | −54.1 | −80 | −55.9 | −55.1 | −50.9 | −81.5 |
| Net margin | -4.0% | -6.7% | -6.7% | -9.0% | -6.5% | -9.6% | -8.6% | -10.3% | -8.1% | -15.4% | -6.6% | -8.1% | -8.8% | -15.6% | -10.6% | -10.5% | -10.4% | -20.4% |
| EPS (₹) | -0.45 | -0.73 | -0.75 | -1.01 | -0.72 | -1.13 | -1.01 | -1.21 | -0.99 | -1.72 | -0.73 | -0.93 | -1.02 | -1.48 | -1.02 | -1.01 | -0.96 | -1.53 |
| Net profit YoY | +27.4% | +21.5% | +12.4% | +3.2% | +13.0% | +34.4% | −37.0% | −29.2% | +3.4% | −15.2% | +28.5% | +8.0% | −6.2% | +1.9% | – | – | – | – |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 |
|---|---|---|---|---|---|
| Revenue from operations | 2,823 | 2,551 | 2,437 | 2,054 | 1,490 |
| Other income | 48.6 | 31.2 | 18.5 | 36 | 22.4 |
| Total expenses | 3,073 | 2,815 | 2,692 | 2,332 | 1,723 |
| EBITDA | 328 | 268 | 242 | 111 | 96.5 |
| EBITDA margin | 11.6% | 10.5% | 9.9% | 5.4% | 6.5% |
| Finance costs | 189 | 161 | 141 | 105 | 95.4 |
| Depreciation | 389 | 371 | 356 | 284 | 234 |
| Profit before tax | −204 | −233 | −237 | −242 | −235 |
| Tax | 0 | 0 | 0 | 0 | 0 |
| Net profit | −204 | −233 | −237 | −242 | −235 |
| Net margin | -7.2% | -9.1% | -9.7% | -11.8% | -15.8% |
| EPS (₹) | -3.19 | -4.33 | -4.40 | -4.48 | -4.94 |
| Net profit YoY | +12.3% | +1.7% | +2.1% | −2.8% | – |
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 | 303 | 350 | 346 | 124 | 69.2 |
| Investing cash flow | −494 | −212 | −212 | 12.9 | −1,078 |
| Financing cash flow | −321 | 385 | −251 | −170 | 1,112 |
| Capital expenditure | 372 | 277 | 282 | 331 | 138 |
| Free cash flow (CFO − capex) | −69.5 | 73.4 | 63.9 | −207 | −68.7 |
Net profit trend
annual, ₹ croreFY22
₹−235
FY23
₹−242−3%
FY24
₹−237+2%
FY25
₹−233+2%
FY26
₹−204+12%
Result filings
as filed with NSE · PDF and XBRL| Period | Basis | Filed | Documents |
|---|---|---|---|
| Q1 FY27 | Consolidated | 3 Aug 2026 | PDF on NSE XBRL |
| Q1 FY27 | Standalone | 3 Aug 2026 | PDF on NSE XBRL |
| Q4 FY26 | Consolidated · audited | 14 May 2026 | PDF on NSE XBRL |
| Q4 FY26 | Standalone · audited | 14 May 2026 | PDF on NSE XBRL |
| Q3 FY26 | Consolidated | 3 Feb 2026 | PDF on NSE XBRL |
| Q3 FY26 | Standalone | 3 Feb 2026 | PDF on NSE XBRL |
| Q2 FY26 | Consolidated | 30 Oct 2025 | PDF on NSE XBRL |
| Q2 FY26 | Standalone | 30 Oct 2025 | PDF on NSE XBRL |
| Q1 FY26 | Consolidated | 31 Jul 2025 | PDF on NSE XBRL |
| Q1 FY26 | Standalone | 31 Jul 2025 | PDF on NSE XBRL |
Annual reports
NSE archiveKey ratios
P/E (TTM)-28.1×
P/B5Y avg 7.48×7.48×
ROEFY26, on average equity-25.1%
Net margin-7.2%
Debt / equity0.37×
Revenue CAGR (3Y)11.2%
Profit CAGR (3Y)–
EPS (TTM)₹-3.29
Market cap₹5,392 Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
7.48×
vs 8-point avg 7.48× (−0%)
3.88× low7.48× avg12.14× high
History points are balance-sheet dates (2022 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹3,382 Cr−2%
Net worth₹721 Cr−21%
Total borrowings₹270 Cr−9%
Cash & bank balances₹31 Cr−94%
Investments₹138 Cr+486%
Inventories₹39 Cr−11%
Trade receivables₹46 Cr+37%
Trade payables₹340 Cr−10%
Change vs the same date a year earlier.
Revenue mix FY26
India80.5%result ₹340 Cr
Indonesia19.5%result ₹−11.4 Cr
Segment revenue as reported, before inter-segment eliminations.