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Quarterly results

consolidated · 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	Q3 FY19	Q2 FY19	Q1 FY19	Q4 FY18
Revenue from operations	662	650	584	554	581	567	543	543	470	533	496	455	445	472	385	414	415	451	399	359	356	397	378	354	193	271	290	279	255	284	236	285
Other income	0.8	7.3	1.1	0.3	0.8	1.7	0.9	20.7	0.7	1.5	2.2	1.8	0.5	1.3	1.5	8.7	0.2	8.6	4.3	1.1	3.5	8.2	5.1	6.2	4.1	2.4	2.1	0.6	6.6	6	3.3	15.4
Total expenses	624	644	568	543	547	532	516	499	424	478	453	416	407	433	367	388	385	416	360	326	335	352	332	303	178	255	268	261	230	256	212	266
EBITDA	88.7	60	56.1	52.7	73	73.4	64.5	80.8	78.3	88	76.8	71.6	70.4	67.3	43.5	51.7	54.9	59.9	59.5	53.9	41.4	67.1	66.7	71.1	31	31.8	43.1	38.3	38.4	36.7	32.9	27.1
EBITDA margin	13.4%	9.2%	9.6%	9.5%	12.6%	12.9%	11.9%	14.9%	16.6%	16.5%	15.5%	15.7%	15.8%	14.2%	11.3%	12.5%	13.2%	13.3%	14.9%	15.0%	11.7%	16.9%	17.7%	20.1%	16.1%	11.7%	14.9%	13.7%	15.1%	13.0%	13.9%	9.5%
Finance costs	15	15	13.5	13.9	13.1	12.9	13.8	12.8	9.9	10.3	10.8	10	10.2	7.5	6.4	5.1	5	5.2	3.6	4.1	3.3	4	4.2	4.4	4.5	3.5	7.1	7.1	4.5	1.9	1.5	1.6
Depreciation	35.1	38.6	27	27.4	26.4	24.7	23.4	24.2	22.5	22.7	22.7	22.3	21.6	20.5	19.7	20.4	19.8	20.1	17.1	17.4	17.2	18.2	16.8	14.9	11.6	12.5	13.7	13.1	8.9	7.6	6.8	6.5
Profit before tax	69.3	13.7	49.8	12.4	36.5	96.8	28.3	64.4	−73.3	56.5	45.5	41.2	39.1	18.8	18.9	35.2	31.6	37.4	43.1	27.3	24.4	53.2	50.7	70.5	18.9	18.1	−11.9	18.6	31.6	33.3	28	31.6
Tax	23.7	12.8	16.4	3	11.1	−5.5	9.9	24	12.4	23.1	13.4	11	11.3	17.7	5.5	9.9	8.3	23.8	10.8	5.2	−57	13.1	15.7	16.7	4.1	6.1	−0.7	3.6	10.3	4.9	10	11.9
Net profit	45.4	1.8	32.6	9.2	25.6	103	17.5	39.8	−86.8	33.4	32.1	30.2	27.8	1.1	13.4	25.2	23.2	13.6	32.3	22.1	81.4	40.2	35.1	53.7	15.1	12.7	−10.9	15.4	21.5	28.8	18.7	21.3
Net margin	6.9%	0.3%	5.6%	1.7%	4.4%	18.1%	3.2%	7.3%	-18.5%	6.3%	6.5%	6.6%	6.2%	0.2%	3.5%	6.1%	5.6%	3.0%	8.1%	6.2%	22.9%	10.1%	9.3%	15.1%	7.8%	4.7%	-3.8%	5.5%	8.4%	10.2%	7.9%	7.5%
EPS (₹)	3.24	0.13	2.36	0.66	1.85	7.41	1.27	2.87	-6.19	2.46	2.37	2.16	2.01	0.17	0.96	1.80	1.60	0.91	2.35	1.61	5.90	2.91	2.56	3.91	1.11	0.91	-0.78	1.09	1.50	2.01	1.30	1.48
Net profit YoY	+77.8%	−98.2%	+86.4%	−77.0%	+129.4%	+206.6%	−45.5%	+32.0%	−412.0%	+2858.4%	+140.5%	+19.5%	+19.8%	−91.7%	−58.6%	+14.0%	−71.5%	−66.1%	−8.0%	−58.8%	+439.7%	+216.2%	+421.6%	+249.7%	–	–	−150.8%	−46.7%	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY18
Revenue from operations	2,368	2,123	1,930	1,687	1,564	1,322	1,114	1,043
Other income	9.5	23.9	6	11.8	17.5	23.5	7.8	21.6
Total expenses	2,301	1,971	1,754	1,574	1,438	1,165	1,032	909
EBITDA	242	297	307	217	215	236	158	162
EBITDA margin	10.2%	14.0%	15.9%	12.9%	13.7%	17.8%	14.2%	15.6%
Finance costs	55.5	49.4	41.3	23.9	16.2	17.1	24.7	4
Depreciation	119	94.7	89.3	80.5	71.8	61.5	51.5	23.8
Profit before tax	112	116	182	105	132	193	53.3	143
Tax	43.3	40.7	58.8	41.4	−17.2	49.5	18.6	50.6
Net profit	69.2	73	124	63	149	144	35.9	94.2
Net margin	2.9%	3.4%	6.4%	3.7%	9.6%	10.9%	3.2%	9.0%
EPS (₹)	5.00	5.37	8.93	4.53	10.81	10.48	2.56	6.52
Net profit YoY	−5.3%	−40.9%	+96.3%	−57.9%	+3.8%	+301.5%	–	–

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

Cash flow

annual · ₹ crore

₹ crore	FY26	FY25	FY24	FY23	FY22
Operating cash flow	263	15.7	107	189	50.2
Investing cash flow	−205	−72.3	−81.8	−103	−160
Financing cash flow	−158	99.3	8.2	−175	12.6
Capital expenditure	206	95.7	60.9	68.8	26.8
Free cash flow (CFO − capex)	56.7	−80	46.5	121	23.4

Net profit trend

annual, ₹ crore

FY21

₹144

FY22

₹149+4%

FY23

₹63−58%

FY24

₹124+96%

FY25

₹73−41%

FY26

₹69.2−5%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	28 Jul 2026	PDF on NSE XBRL
Q1 FY27	Standalone	28 Jul 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	15 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	15 May 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	6 Feb 2026	PDF on NSE XBRL
Q3 FY26	Standalone	6 Feb 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	7 Nov 2025	PDF on NSE XBRL
Q2 FY26	Standalone	7 Nov 2025	PDF on NSE XBRL
Q1 FY26	Consolidated	8 Aug 2025	PDF XBRL
Q1 FY26	Standalone	8 Aug 2025	PDF XBRL

Annual reports

NSE archive

FY268.92 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)22.1×

P/B1.45×

ROEFY26, on average equity5.3%

Net margin2.9%

Debt / equity0.62×

Revenue CAGR (3Y)12.0%

Profit CAGR (3Y)3.2%

EPS (TTM)₹6.43

Market cap₹1,971 Cr

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

Balance sheet 31 Mar 2026

Total assets₹2,913 Cr+9%

Net worth₹1,362 Cr+7%

Total borrowings₹851 Cr+14%

Cash & bank balances₹64 Cr−26%

Investments₹11 Cr

Inventories₹665 Cr−7%

Trade receivables₹635 Cr+26%

Trade payables₹331 Cr−17%

Change vs the same date a year earlier.

Revenue mix FY26

Fragrance89.8%result ₹153 Cr

Flavours10.2%result ₹57.8 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	54.87	54.87	54.87	54.87	55.03	55.48	55.63	55.63	58.75	58.95	58.95	58.95
FII	5.92	7.42	6.79	7.36	6.96	7.22	7.53	9.40	8.71	8.86	8.25	8.33
DII	6.01	5.18	6.02	5.69	3.37	3.44	3.10	2.26	0.27	0.27	1.27	1.42
of which MF	5.67	4.75	5.56	4.50	2.88	–	–	–	–	–	–	–
Retail	19.19	18.45	18.03	17.50	19.42	18.60	18.16	17.67	17.67	17.15	17.35	16.44
Other public	14.01	14.08	14.29	14.58	15.22	15.26	15.58	15.04	14.60	14.77	14.18	14.86

55,913 shareholders · NSE shareholding pattern filings.