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Quarterly results

consolidated · as filed with NSE · Q1 FY27 back to Q1 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	Q1 FY20
Revenue from operations	4,321	6,696	4,684	5,123	3,909	6,427	4,567	4,855	4,074	6,714	4,689	4,914	5,572	5,720	5,012	4,909	4,641	6,438	5,049	4,026	3,869	5,578	3,732	3,183	2,911	4,221	3,699	3,765	2,846
Other income	141	85	252	210	228	187	269	281	263	280	328	296	282	256	281	222	238	210	74.9	55.7	62.7	67.4	120	66	56	56.6	73.9	62.5	52.7
Total expenses	4,245	6,535	4,577	5,015	3,973	6,120	4,480	4,732	4,037	6,412	4,584	4,755	5,374	5,498	4,889	4,729	4,523	6,183	4,742	3,809	3,652	5,237	3,523	3,030	2,785	4,029	3,493	3,581	2,702
EBITDA	185	269	221	217	52.9	433	239	271	182	456	249	298	349	374	276	316	281	408	319	227	228	354	220	165	141	208	217	197	165
EBITDA margin	4.3%	4.0%	4.7%	4.2%	1.4%	6.7%	5.2%	5.6%	4.5%	6.8%	5.3%	6.1%	6.3%	6.5%	5.5%	6.4%	6.0%	6.3%	6.3%	5.6%	5.9%	6.3%	5.9%	5.2%	4.9%	4.9%	5.9%	5.2%	5.8%
Finance costs	97.9	97.6	105	100	108	117	145	141	137	150	139	133	146	146	147	131	157	146	8.2	5.7	6.7	7.8	6.1	6.6	7.7	7.9	7	8.9	17.1
Depreciation	10.4	9.7	8.9	8.9	8.9	9	7.4	7.4	6.9	4.4	4.8	6.2	5.5	5.8	5.7	4.8	6	7.4	4.2	4.7	4.6	5.2	4.4	5.4	8	7.8	3.9	4.1	4.5
Profit before tax	217	246	359	318	164	494	356	405	300	582	433	455	479	478	404	402	355	465	382	272	280	408	329	219	182	249	280	246	196
Tax	64	68.7	91	112	39.1	87.1	101	102	77.7	147	104	85.2	144	137	65.4	99.8	75.6	102	99.7	50	68.1	69.4	61.4	45.8	38.5	51.5	81.9	21.5	46.2
Net profit	160	182	324	231	134	459	312	287	224	478	359	394	343	359	382	381	298	378	293	279	232	313	281	188	141	247	103	220	182
Net margin	3.7%	2.7%	6.9%	4.5%	3.4%	7.1%	6.8%	5.9%	5.5%	7.1%	7.6%	8.0%	6.2%	6.3%	7.6%	7.8%	6.4%	5.9%	5.8%	6.9%	6.0%	5.6%	7.5%	5.9%	4.8%	5.9%	2.8%	5.9%	6.4%
EPS (₹)	0.76	0.90	1.55	1.10	0.65	2.20	1.49	1.38	1.07	2.29	1.72	1.89	1.65	1.72	1.83	1.83	1.43	1.81	1.41	1.34	1.11	1.50	1.35	0.90	0.68	1.19	0.50	1.06	0.87
Net profit YoY	+18.7%	−60.4%	+4.0%	−19.7%	−40.0%	−4.0%	−13.1%	−27.3%	−34.7%	+33.2%	−6.2%	+3.5%	+15.3%	−5.0%	+30.5%	+36.5%	+28.2%	+21.0%	+4.3%	+48.7%	+64.7%	+26.4%	+171.6%	−14.8%	−22.6%	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20
Revenue from operations	20,412	19,923	21,889	20,282	19,382	15,404	14,531
Other income	775	1,000	1,186	996	800	309	246
Total expenses	20,100	19,368	21,126	19,638	18,783	14,575	13,805
EBITDA	767	1,125	1,353	1,247	1,183	880	786
EBITDA margin	3.8%	5.6%	6.2%	6.1%	6.1%	5.7%	5.4%
Finance costs	419	540	568	581	564	28.3	41
Depreciation	36.4	30.7	20.9	22.3	20.9	22.9	20.3
Profit before tax	1,087	1,555	1,949	1,640	1,399	1,138	971
Tax	311	369	479	378	319	215	201
Net profit	871	1,282	1,574	1,421	1,183	922	753
Net margin	4.3%	6.4%	7.2%	7.0%	6.1%	6.0%	5.2%
EPS (₹)	4.20	6.15	7.55	6.81	5.67	4.42	3.61
Net profit YoY	−32.1%	−18.6%	+10.8%	+20.1%	+28.2%	+22.4%	–

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	−1,894	1,878	2,954	−4,076	4,800
Investing cash flow	942	1,629	−1,399	1,355	−1,427
Financing cash flow	−1,619	−1,484	−1,287	−1,036	−187
Capital expenditure	61	432	116	10.1	14.3
Free cash flow (CFO − capex)	−1,955	1,446	2,838	−4,086	4,786

Net profit trend

annual, ₹ crore

FY21

₹922

FY22

₹1,183+28%

FY23

₹1,421+20%

FY24

₹1,574+11%

FY25

₹1,282−19%

FY26

₹871−32%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	11 Aug 2026	PDF on NSE XBRL
Q1 FY27	Standalone	11 Aug 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	25 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	25 May 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	5 Feb 2026	PDF on NSE XBRL
Q3 FY26	Standalone	5 Feb 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	11 Nov 2025	PDF XBRL
Q2 FY26	Standalone	11 Nov 2025	PDF 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

FY2620.29 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19

Key ratios

P/E (TTM)5Y avg 40.1×48.2×

P/B5Y avg 5.80×4.39×

ROEFY26, on average equity9.0%

Net margin4.3%

Debt / equity0.49×

Revenue CAGR (3Y)0.2%

Profit CAGR (3Y)-15.1%

EPS (TTM)₹4.30

Market cap₹43,160 Cr

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

P/B vs history

4.39×

vs 8-point avg 5.80× (−24%)

1.00× low5.80× avg12.60× high

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

Balance sheet 31 Mar 2026

Total assets₹21,702 Cr+6%

Net worth₹9,822 Cr+3%

Total borrowings₹4,814 Cr−11%

Cash & bank balances₹556 Cr−82%

Investments₹27 Cr+17%

Inventories₹118 Cr

Trade receivables₹5,371 Cr+262%

Trade payables₹1,682 Cr+343%

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	72.84	72.84	72.84	72.84	72.84	72.84	72.84	72.84	72.84	72.84	72.84	72.84
FII	2.41	4.86	4.98	4.66	4.89	5.07	5.10	5.05	3.13	2.32	2.59	2.32
DII	6.60	6.42	6.38	6.40	6.38	6.21	6.16	6.33	6.77	6.18	6.09	5.83
of which MF	0.36	0.18	0.13	0.15	0.18	–	–	–	–	–	–	–
Retail	16.78	14.74	14.70	15.13	14.95	14.94	14.90	14.78	15.99	17.27	17.04	17.50
Other public	1.37	1.14	1.10	0.97	0.94	0.94	1.00	1.00	1.27	1.39	1.44	1.51

22,10,914 shareholders · NSE shareholding pattern filings.