Quarterly results
consolidated · as filed with NSE · Q1 FY27 back to Q2 FY21
| ₹ 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 337 | 208 | 183 | 161 | 196 | 216 | 187 | 145 | 177 | 224 | 191 | 183 | 193 | 195 | 206 | 164 | 161 | 169 | 152 | 154 | 155 | 175 | 143 | 97 |
| Other income | 1.1 | 0.2 | 1.4 | 1.1 | 1.4 | 5.3 | 1.6 | 0.8 | 2.2 | 3.3 | 2.1 | 2.2 | 1.8 | 2.9 | 1 | 1.8 | 1.3 | 1.2 | 0.9 | 0.9 | 1 | 2 | 2.1 | 0.7 |
| Total expenses | 329 | 198 | 194 | 149 | 179 | 196 | 195 | 145 | 164 | 185 | 151 | 175 | 172 | 166 | 200 | 157 | 139 | 149 | 141 | 134 | 121 | 135 | 124 | 93.7 |
| EBITDA | 29.2 | 24.9 | 2.4 | 19.4 | 23.8 | 27.7 | −0.2 | 8.1 | 21.6 | 48 | 49 | 17.9 | 30.7 | 38.1 | 16 | 15.8 | 31.1 | 29.4 | 19.1 | 27.6 | 41 | 47.1 | 26.9 | 10.4 |
| EBITDA margin | 8.7% | 11.9% | 1.3% | 12.0% | 12.1% | 12.8% | -0.1% | 5.6% | 12.2% | 21.4% | 25.6% | 9.8% | 15.9% | 19.5% | 7.7% | 9.7% | 19.3% | 17.4% | 12.6% | 17.9% | 26.5% | 26.9% | 18.8% | 10.8% |
| Finance costs | 11.6 | 4.8 | 3.5 | 0.6 | 0.6 | 0.5 | 0.8 | 0.7 | 0.7 | 0.1 | 0.6 | 0.8 | 0.7 | 0 | 0.4 | 0.5 | 0.4 | 0.3 | 0.4 | 0.4 | 0.4 | 0.4 | 0.6 | 0.4 |
| Depreciation | 9.5 | 9.5 | 9.5 | 6.2 | 6.1 | 7.2 | 7 | 7.5 | 8 | 8.2 | 8.5 | 8.9 | 9 | 9 | 8.8 | 8.7 | 8.8 | 9.1 | 7.8 | 7.4 | 7.1 | 6.8 | 6.7 | 6.7 |
| Profit before tax | 9.1 | 10.8 | −9.2 | 13.6 | 18.5 | 25.2 | −6.5 | 0.7 | 15 | 43 | 42 | 10.5 | 22.8 | 32.1 | 7.8 | 8.4 | 23.1 | 21.2 | 11.8 | 20.8 | 34.4 | 41.9 | 21.7 | 4 |
| Tax | 2.3 | 2.9 | −2.2 | 3.4 | 4.7 | 6.9 | −1.6 | 0.3 | 3.8 | 11.2 | 10.6 | 3.1 | 5.6 | 7.7 | −2.4 | 2.1 | 6 | 8.3 | 4.5 | 7.4 | 12.7 | 14.5 | 7.7 | 1.5 |
| Net profit | 6.8 | 7.9 | −7 | 10.2 | 13.8 | 18.4 | −4.8 | 0.4 | 11.3 | 31.7 | 31.4 | 7.4 | 17.3 | 24.4 | 10.2 | 6.3 | 17.1 | 12.9 | 7.3 | 13.4 | 21.7 | 27.4 | 14 | 2.5 |
| Net margin | 2.0% | 3.8% | -3.8% | 6.3% | 7.0% | 8.5% | -2.6% | 0.3% | 6.4% | 14.1% | 16.4% | 4.0% | 8.9% | 12.5% | 4.9% | 3.9% | 10.6% | 7.6% | 4.8% | 8.7% | 14.0% | 15.7% | 9.8% | 2.6% |
| EPS (₹) | 0.46 | 0.54 | -0.47 | 0.69 | 0.93 | 1.24 | -0.33 | 0.03 | 0.76 | 2.16 | 2.15 | 0.51 | 1.19 | 0.00 | 0.71 | 0.00 | 1.19 | 0.90 | 0.51 | 0.93 | 1.52 | 1.93 | 0.99 | 0.18 |
| Net profit YoY | −50.5% | −56.7% | −44.2% | +2489.7% | +22.3% | −42.2% | −115.4% | −94.7% | −34.7% | +29.9% | +208.2% | +16.9% | +0.7% | +89.5% | +40.2% | −52.7% | −21.1% | −53.0% | −48.1% | +426.9% | – | – | – | – |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 |
|---|---|---|---|---|---|---|
| Revenue from operations | 749 | 725 | 792 | 727 | 629 | 503 |
| Other income | 4.1 | 9.8 | 9.3 | 7 | 4 | 6.3 |
| Total expenses | 719 | 701 | 683 | 662 | 545 | 426 |
| EBITDA | 70.5 | 57.2 | 146 | 101 | 117 | 105 |
| EBITDA margin | 9.4% | 7.9% | 18.4% | 13.9% | 18.6% | 20.9% |
| Finance costs | 9.6 | 2.8 | 2.1 | 1.3 | 1.5 | 1.6 |
| Depreciation | 31.2 | 29.8 | 34.6 | 35.3 | 31.4 | 26.8 |
| Profit before tax | 33.8 | 34.5 | 118 | 71.5 | 88.2 | 82.9 |
| Tax | 8.8 | 9.3 | 30.5 | 13.4 | 32.9 | 28.9 |
| Net profit | 25 | 25.2 | 87.8 | 58.1 | 55.3 | 54 |
| Net margin | 3.3% | 3.5% | 11.1% | 8.0% | 8.8% | 10.7% |
| EPS (₹) | 1.69 | 1.71 | 6.01 | 0.00 | 3.86 | 3.79 |
| Net profit YoY | −0.9% | −71.3% | +51.1% | +5.1% | +2.4% | – |
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 | −411 | 135 | 95.7 | 86.3 | 57.3 |
| Investing cash flow | −7.8 | −164 | −61 | −36.7 | −39.8 |
| Financing cash flow | 373 | 65.2 | −34.1 | −49.8 | −56 |
| Capital expenditure | 79.4 | 183 | 58.9 | 20.7 | 35.5 |
| Free cash flow (CFO − capex) | −490 | −48.3 | 36.8 | 65.6 | 21.8 |
Net profit trend
annual, ₹ croreFY21
₹54
FY22
₹55.3+2%
FY23
₹58.1+5%
FY24
₹87.8+51%
FY25
₹25.2−71%
FY26
₹25−1%
Result filings
as filed with NSE · PDF and XBRL| Period | Basis | Filed | Documents |
|---|---|---|---|
| Q1 FY27 | Consolidated | 24 Jul 2026 | PDF on NSE XBRL |
| Q1 FY27 | Standalone | 24 Jul 2026 | PDF on NSE XBRL |
| Q4 FY26 | Consolidated · audited | 29 Apr 2026 | PDF on NSE XBRL |
| Q4 FY26 | Consolidated · audited | – | PDF on NSE XBRL |
| Q4 FY26 | Standalone · audited | 29 Apr 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 | 28 Oct 2025 | PDF XBRL |
| Q2 FY26 | Consolidated | – | PDF on NSE XBRL |
| Q2 FY26 | Standalone | – | PDF on NSE XBRL |
Annual reports
NSE archiveKey ratios
P/E (TTM)5Y avg 26.5×55.7×
P/B5Y avg 3.34×2.74×
ROEFY26, on average equity6.8%
Net margin3.3%
Debt / equity1.40×
Revenue CAGR (3Y)1.0%
Profit CAGR (3Y)-24.5%
EPS (TTM)₹1.22
Market cap₹1,003 Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
2.74×
vs 8-point avg 3.34× (−18%)
2.30× low3.34× avg4.27× high
History points are balance-sheet dates (2022 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹1,058 Cr+52%
Net worth₹366 Cr+0%
Total borrowings₹513 Cr+367%
Cash & bank balances₹4 Cr−92%
Investments₹3 Cr+10%
Inventories₹111 Cr+1%
Trade receivables₹37 Cr+107%
Trade payables₹90 Cr−32%
Change vs the same date a year earlier.
Revenue mix FY26
Cement Business100.0%result ₹43.4 Cr
Segment revenue as reported, before inter-segment eliminations.