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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	1,870	1,697	2,006	2,124	2,313	1,505	1,921	1,801	2,494	1,294	1,653	1,394	1,268	1,106	1,153	1,176	689	11.8	0.7	0.5	1	0.1	0	0	0	0	0	0
Other income	0.8	0.9	0.9	3.6	3.6	5.3	0.3	0.3	3.9	6.2	227	224	205	3.1	4.1	106	2.8	579	0	0	0.2	0.7	0.6	0.2	0.2	0.2	0.6	0.5
Total expenses	1,852	1,822	2,184	2,583	1,725	1,901	2,113	2,071	1,493	1,382	1,668	1,426	1,294	1,242	1,181	1,174	903	21.3	2.2	1.2	0.9	1	0.5	0.1	0.1	−0.8	1.3	1.1
EBITDA	40.1	−102	−155	−436	609	−377	−165	−237	1,031	−54.9	23.4	1.5	1.5	−111	−10.1	12.1	−208	−6.6	−1.4	−0.7	0.1	−0.9	−0.5	−0.1	−0.1	−0.1	−0.2	−0.2
EBITDA margin	2.1%	-6.0%	-7.7%	-20.5%	26.3%	-25.1%	-8.6%	-13.2%	41.3%	-4.2%	1.4%	0.1%	0.1%	-10.0%	-0.9%	1.0%	-30.2%	-55.7%	-203.8%	-129.1%	10.3%	-931.5%	–	–	–	–	–	–
Finance costs	18.8	19.5	18.2	19.3	17.1	15.5	23.1	29.8	25.9	28.7	32.5	28.8	23.6	21.4	15.8	8	4.1	1.8	0	0	0	0	0	0	0	−0.9	1.2	1
Depreciation	3.2	3.3	3.6	3.6	3.4	4.3	4	3.8	4	4	5	4.3	3.9	3.8	2.2	2.2	1.7	1.2	0.1	0	0	0	0	0	0	0	0	0
Profit before tax	18.9	−123	−176	−456	592	−391	−192	−270	1,005	−81.3	213	142	179	−133	−24	107	−211	565	−1.5	−0.7	0.3	−0.3	0.1	0.1	0.1	1	−0.7	−0.6
Tax	13.4	−12.5	−14.2	−59.1	89.6	−32.9	−21.2	−28.7	154	0.2	25.6	1.7	0.6	1.4	6.9	2.9	1.5	0.2	−0.1	0	0.1	−0	0	0	0	0	0	0
Net profit	14.7	−110	−162	−397	502	−359	−170	−242	851	−81.5	187	140	178	−138	−34.6	103	−216	565	−5.5	−4.5	−0.8	−0.2	0.1	0.1	0.1	−157	401	−202
Net margin	0.8%	-6.5%	-8.1%	-18.7%	21.7%	-23.8%	-8.9%	-13.4%	34.1%	-6.3%	11.3%	10.1%	14.1%	-12.5%	-3.0%	8.7%	-31.4%	4789.5%	-827.1%	-835.8%	-82.7%	-222.5%	–	–	–	–	–	–
EPS (₹)	0.11	-0.80	-1.17	-2.87	3.64	-2.58	-1.23	-1.75	6.17	-0.59	1.36	1.02	1.29	-1.02	-0.25	0.74	-1.57	4.09	-0.04	-0.03	-0.01	0.00	0.00	0.00	0.00	-1.14	2.90	-1.46
Net profit YoY	−97.1%	+69.3%	+4.9%	−64.1%	−41.0%	−339.9%	−191.0%	−272.0%	+377.9%	+41.0%	+641.5%	+36.6%	+182.4%	−124.4%	−527.2%	+2396.5%	−26066.9%	+253890.4%	−5502.7%	−8710.8%	−1196.3%	+99.9%	−100.0%	+100.0%	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20
Revenue from operations	7,531	6,866	5,610	4,124	14	0.1	0
Other income	6.5	9.8	582	14.4	579	1.7	1.6
Total expenses	7,701	6,724	5,689	4,399	25.6	1.8	1.9
EBITDA	−82.7	252	51.3	−216	−8.5	−1.7	−0.7
EBITDA margin	-1.1%	3.7%	0.9%	-5.2%	-60.9%	-1711.4%	–
Finance costs	74.1	94.3	114	49.3	1.8	0	1.2
Depreciation	13.9	16	17.3	9.9	1.3	0	0
Profit before tax	−163	152	453	−261	554	0	−0.4
Tax	3.7	71.2	28.1	12.8	0.2	0	0
Net profit	−166	80.7	424	−286	554	0	−153
Net margin	-2.2%	1.2%	7.6%	-6.9%	3958.3%	7.0%	–
EPS (₹)	-1.20	0.61	3.09	-2.07	4.01	0.00	-1.11
Net profit YoY	−306.1%	−81.0%	+248.4%	−151.7%	+7912232.9%	+100.0%	–

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	−55.5	306	−36.8	−679	−13.5
Investing cash flow	−6.9	29.9	−26.1	−20.8	−102
Financing cash flow	105	−373	97	730	117
Capital expenditure	2.4	2.1	2.3	2.9	0.6
Free cash flow (CFO − capex)	−57.9	304	−39.1	−682	−14.1

Net profit trend

annual, ₹ crore

FY21

₹0

FY22

₹554+7912233%

FY23

₹−286−152%

FY24

₹424+248%

FY25

₹80.7−81%

FY26

₹−166−306%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	5 Aug 2026	PDF on NSE XBRL
Q1 FY27	Standalone	5 Aug 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	29 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	29 May 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	12 Feb 2026	PDF on NSE XBRL
Q3 FY26	Standalone	12 Feb 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	11 Nov 2025	PDF on NSE XBRL
Q2 FY26	Standalone	11 Nov 2025	PDF on NSE XBRL
Q1 FY26	Consolidated	12 Aug 2025	PDF on NSE XBRL
Q1 FY26	Standalone	12 Aug 2025	PDF on NSE XBRL

Annual reports

NSE archive

FY255.04 MB FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17 FY16

Key ratios

P/E (TTM)5Y avg 46.4×-5.7×

P/B5Y avg 8.74×4.85×

ROEFY26, on average equity-19.7%

Net margin-2.2%

Debt / equity1.38×

Revenue CAGR (3Y)22.2%

Profit CAGR (3Y)–

EPS (TTM)₹-4.73

Market cap₹3,727 Cr

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

P/B vs history

4.85×

vs 8-point avg 8.74× (−45%)

4.62× low8.74× avg11.86× high

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

Balance sheet 31 Mar 2026

Total assets₹2,771 Cr+5%

Net worth₹768 Cr−17%

Total borrowings₹1,063 Cr+21%

Cash & bank balances₹73 Cr+142%

Investments₹893 Cr−15%

Inventories₹1,003 Cr+22%

Trade receivables₹66 Cr+31%

Change vs the same date a year earlier.

Revenue mix FY26

Retail-E-Commerce business97.6%result ₹133 Cr

EV (E-Motorcycles)1.8%result ₹−29.3 Cr

Others0.6%result ₹−13.6 Cr

Segment revenue as reported, before inter-segment eliminations.

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	74.87	74.87	74.86	74.86	74.86	74.86	74.86	74.86	74.86	74.86	74.86	74.86
FII	5.39	5.55	6.18	6.16	5.95	6.10	6.00	4.83	8.42	8.33	8.12	9.40
DII	0.07	0.08	0.09	0.09	0.13	0.12	0.10	0.10	0.07	0.05	0.05	0.04
of which MF	0.07	0.08	0.09	0.09	0.12	–	–	–	–	–	–	–
Retail	15.66	15.52	15.13	15.15	15.31	15.10	15.10	15.55	13.46	13.57	13.98	13.08
Other public	3.91	3.88	3.64	3.64	3.65	3.72	3.84	4.56	3.09	3.09	2.89	2.52

3,95,032 shareholders · NSE shareholding pattern filings.