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Quarterly results

standalone · as filed with NSE · Q1 FY27 back to Q4 FY17

₹ crore	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	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 FY17
Revenue from operations	87.4	11.9	2.2	65.7	128	116	194	123	111	127	157	153	107	137	134	119	185	127	84.6	108	116	72.3	79.2	33.4	97.9	95.2	88.9	126	130	133	153	158	142
Other income	0	0	0	0	0.1	0.6	0.3	0	0	2.6	0	0.4	5.8	5.2	3.4	0	1.2	8.8	10.3	9	16.6	5.2	0.1	0	10.8	11.1	22.1	0.4	1.3	0	0	0	0.8
Total expenses	82.8	12.2	10.6	60.6	141	125	189	123	111	133	157	154	112	141	133	119	179	136	91.3	112	115	75.5	83.4	36.5	109	105	95.7	126	138	126	143	168	137
EBITDA	13.6	7.1	−0	13	−5.5	−0.7	11.6	5.8	6	−0.3	5.8	5.2	0	2.1	3.8	2.6	8.6	−6.3	−4.4	−1.5	3.7	−0.5	−2.3	−1.1	−8.7	−7.3	−4.6	2.4	−4.9	9.6	12	−7.4	8.1
EBITDA margin	15.5%	59.1%	-1.8%	19.7%	-4.3%	-0.6%	6.0%	4.7%	5.4%	-0.3%	3.7%	3.4%	0.0%	1.5%	2.8%	2.2%	4.6%	-5.0%	-5.2%	-1.4%	3.2%	-0.7%	-2.9%	-3.3%	-8.9%	-7.6%	-5.2%	1.9%	-3.7%	7.2%	7.8%	-4.7%	5.7%
Finance costs	6.3	4.6	5.7	5.1	4.9	5.1	4.7	3.2	3.2	3.2	3.2	3.1	3.3	3.9	0.6	0.1	0.1	0.1	0	0	0.1	0	0.1	0.1	0.5	0.3	0.4	0.4	0.8	0.7	0	0	0.7
Depreciation	2.8	2.8	2.7	2.7	2.7	2.8	2.6	2.6	2.6	2.4	2.4	2.4	2.4	2.4	2.4	2.4	2.3	2.3	2.3	2.3	2.5	2.7	1.9	1.9	1.9	1.9	1.9	1.9	1.9	2	2	2	2.2
Profit before tax	4.5	−0.3	7.7	5.1	−12.9	−8.1	0.5	0.1	0.2	−3.3	0.2	0.1	0.1	1.1	4.2	0.2	7.4	0.1	3.6	5.2	17.7	2	−4.1	−3.1	−0.3	1.7	15.2	0.5	−26.3	7	10.1	−9.4	69.6
Tax	1.4	0.8	1.1	1.4	−3.3	−2.1	1.2	0	0	−0.9	0	0	0.2	0.3	1.5	0	2.5	0	0.9	1.3	2.1	1.8	−0.3	−2.7	0.4	0.4	0.1	0.2	−2.4	2.3	4.4	−1.4	21.6
Net profit	3.1	−1	6.6	3.7	−9.7	−6	−0.7	0.1	0.2	−2.5	0.1	0.1	−0.1	0.8	2.7	0.1	5	0.1	2.7	3.9	15.6	0.2	−3.9	−0.4	−0.7	1.2	15.1	0.3	−23.9	4.6	5.6	−8	48
Net margin	3.5%	-8.5%	300.9%	5.7%	-7.6%	-5.1%	-0.4%	0.0%	0.1%	-2.0%	0.1%	0.1%	-0.1%	0.6%	2.0%	0.1%	2.7%	0.1%	3.1%	3.6%	13.4%	0.3%	-4.9%	-1.1%	-0.7%	1.3%	17.0%	0.2%	-18.4%	3.5%	3.7%	-5.0%	33.8%
EPS (₹)	0.21	-0.07	0.68	0.44	-1.14	-0.70	-0.08	0.01	0.02	-0.29	0.02	0.01	-0.01	0.10	0.32	0.02	0.58	0.01	0.31	0.46	1.83	0.03	-0.46	-0.04	-0.09	0.14	1.78	0.03	-2.81	0.54	0.66	-0.94	5.65
Net profit YoY	+131.9%	+82.9%	+1073.5%	+6116.7%	−6150.0%	–	+72.6%	−57.1%	+60.0%	−402.4%	−94.8%	−28.6%	−102.4%	+1071.4%	+1.5%	−96.4%	−68.2%	−68.2%	+168.7%	+1175.0%	+2261.1%	−82.1%	−125.6%	−238.5%	+97.0%	−73.4%	+168.3%	+103.3%	–	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY23	FY22	FY21	FY20	FY19	FY17
Revenue from operations	207	544	496	505	301	408	574	86.2
Other income	0.2	0.9	14.4	29.3	22	44.3	1.3	1.3
Total expenses	224	548	505	518	310	435	574	91.7
EBITDA	14.5	23.2	8.5	−3.7	−0.3	−18.2	9.3	−3.3
EBITDA margin	7.0%	4.3%	1.7%	-0.7%	-0.1%	-4.5%	1.6%	-3.8%
Finance costs	20.3	16.7	7.8	0.2	0.2	1.5	1.5	0.5
Depreciation	10.9	10.6	9.5	9.2	9	7.5	7.8	1.7
Profit before tax	−0.4	−7.3	5.5	16.3	12.4	17.1	−18.7	−4.2
Tax	−0	−0.9	2	4.7	0.9	1.2	3	2.7
Net profit	−0.4	−6.4	3.5	11.6	11.6	15.9	−21.6	−6.9
Net margin	-0.2%	-1.2%	0.7%	2.3%	3.8%	3.9%	-3.8%	-8.1%
EPS (₹)	-0.04	-0.76	0.42	1.36	1.36	1.87	-2.54	-0.82
Net profit YoY	+94.6%	–	−69.4%	−0.1%	−27.2%	+173.5%	–	–

EPS is as filed for each period and is not restated for later bonus issues or splits.

Cash flow

annual · ₹ crore

₹ crore	FY26	FY25	FY23	FY22
Operating cash flow	−84.3	−20.7	8.4	22.4
Investing cash flow	−175	−18.2	−2.1	0.1
Financing cash flow	259	38.9	−7	−22.1
Capital expenditure	175	18.6	2.2	0
Free cash flow (CFO − capex)	−259	−39.3	6.2	22.4

Net profit trend

annual, ₹ crore

FY20

₹15.9

FY21

₹11.6−27%

FY22

₹11.6−0%

FY23

₹3.5−69%

FY25

₹−6.4−282%

FY26

₹−0.4+95%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Standalone	14 Aug 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	29 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	–	PDF on NSE XBRL
Q4 FY26	Standalone · audited	–	PDF on NSE XBRL
Q4 FY26	Standalone · audited	–	PDF on NSE XBRL
Q4 FY26	Standalone · audited	–	PDF on NSE XBRL
Q3 FY26	Standalone	14 Feb 2026	PDF on NSE XBRL
Q3 FY26	Standalone	–	PDF on NSE XBRL
Q2 FY26	Standalone	14 Nov 2025	PDF on NSE XBRL
Q1 FY26	Standalone	14 Aug 2025	PDF on NSE XBRL

Annual reports

NSE archive

FY263.72 MB FY252.67 MB FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 5.6×10.9×

P/B5Y avg 0.67×0.92×

ROEFY26, on average equity-0.4%

Net margin-0.2%

Debt / equity2.38×

Revenue CAGR (3Y)-25.7%

Profit CAGR (3Y)–

EPS (TTM)₹8.58

Market cap₹136 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 7-point avg 0.67× (+37%)

0.36× low0.67× avg1.24× high

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

Balance sheet 31 Mar 2026

Total assets₹621 Cr+84%

Net worth₹147 Cr+279%

Total borrowings₹349 Cr+97%

Cash & bank balances₹0 Cr+147%

Investments₹0 Cr

Inventories₹233 Cr+134%

Trade receivables₹2 Cr−97%

Trade payables₹25 Cr+22%

Change vs the same date a year earlier.

Shareholding 30 Jun 2026

%	Jun 26	Mar 26	Feb 26	Dec 25	Dec 25	Oct 25	Sept 25	Jun 25	Mar 25	Dec 24	Sept 24	Jun 24
Promoter	70.98	70.98	70.98	61.47	61.47	41.22	50.56	50.56	50.56	50.56	50.56	50.56
FII	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.15	0.00	0.05	0.07	0.00
Retail	21.28	21.40	21.82	30.59	30.59	33.65	41.50	43.08	42.23	42.46	42.94	43.34
Other public	7.74	7.62	7.20	7.94	7.94	25.13	7.94	6.21	7.21	6.93	6.43	6.10

53,818 shareholders · NSE shareholding pattern filings.