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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	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	Q4 FY19	Q3 FY19	Q2 FY19	Q1 FY19	Q4 FY17
Revenue from operations	160	168	159	142	154	179	170	132	136	168	173	171	188	228	229	212	196	178	152	119	135	119	91.9	79	77	133	127	124	156	157	159	134	124	133
Other income	10	3.8	5.3	0.5	11.1	2.6	2.1	9.1	7.4	6.1	15.2	6.1	7.6	2.1	0.6	0.4	2.4	1	11	4.9	3.4	3.9	7.6	3.9	5.1	2.8	2.4	0.6	0.2	4.2	1.1	0.4	0.3	0.4
Total expenses	174	183	168	141	142	157	159	130	124	155	160	152	153	200	204	186	187	179	162	123	129	115	103	84.5	74.8	135	121	116	141	137	140	122	110	118
EBITDA	−8.5	−10.9	−3.9	5.7	15.9	26.9	15.9	7.6	15.8	17.2	17.4	23.8	39.2	31.9	29.7	30.9	14.3	3.5	−5	1.2	10.9	7.9	−6.6	−1.8	5.9	2.8	9.3	10.8	18.7	23.2	23.3	16.1	17.7	18.3
EBITDA margin	-5.3%	-6.5%	-2.5%	4.0%	10.3%	15.0%	9.4%	5.7%	11.6%	10.3%	10.1%	13.9%	20.9%	14.0%	12.9%	14.6%	7.3%	2.0%	-3.3%	1.0%	8.1%	6.7%	-7.2%	-2.3%	7.7%	2.1%	7.3%	8.8%	12.0%	14.8%	14.7%	12.0%	14.3%	13.8%
Finance costs	1	0.9	1.4	0.9	0.8	1.1	1.1	1	0.9	1.2	1.2	0.9	0.9	1.1	1.4	1.4	1.5	1.5	1.5	1.6	1.5	1.8	1.5	1	1.1	1.1	1.3	1.1	1.1	1.1	2.2	1.8	1.2	1.3
Depreciation	4	3.9	3.9	3.9	3.9	3.9	3.9	4	3.7	3.5	3.4	3.4	3.3	3.2	3.3	3.3	3.3	3.1	3.2	3.2	3.2	2.8	3	2.7	2.7	3.1	2.4	2.5	2.5	2.3	2.3	2.4	2.4	2.3
Profit before tax	−3.4	−11.9	−3.9	1.3	22.3	24.5	13	11.7	18.5	18.6	28	25.6	42.6	29.7	25.6	26.6	11.8	−0.1	1.3	1.2	9.6	7.2	−3.5	−1.6	7.3	1.3	8	7.9	15.4	23.9	19.9	12.3	14.4	15.1
Tax	−0.2	−1.5	−1.3	−0.9	5	6	3.9	2.7	4.6	3.7	7.1	5.9	10.6	5.6	5.4	5.8	3.4	0.8	0.2	0.6	0.4	−0.9	0.8	0.3	0.5	−0.3	−4	0.1	4.9	8	6.9	3.7	5	5.2
Net profit	−3.2	−10.5	−2.6	2.2	17.3	18.5	9.1	9.1	14	14.9	20.9	19.7	32	24.1	20.2	20.8	8.4	−0.9	1.1	0.6	9.1	8.1	−4.2	−1.9	6.8	1.6	12	7.8	10.5	15.9	13	8.6	9.5	10
Net margin	-2.0%	-6.3%	-1.6%	1.6%	11.2%	10.3%	5.4%	6.8%	10.3%	8.9%	12.1%	11.5%	17.0%	10.6%	8.8%	9.8%	4.3%	-0.5%	0.7%	0.5%	6.7%	6.8%	-4.6%	-2.3%	8.8%	1.2%	9.4%	6.3%	6.7%	10.1%	8.2%	6.4%	7.6%	7.5%
EPS (₹)	-2.34	-7.58	-1.84	1.62	12.49	13.35	6.58	6.56	10.11	10.78	15.08	14.25	23.13	17.45	14.59	15.03	6.07	0.63	0.81	0.44	6.59	5.85	-3.06	-1.34	4.90	1.16	8.68	5.66	7.62	11.50	9.39	6.24	6.84	7.21
Net profit YoY	−118.7%	−156.8%	−128.0%	−75.4%	+23.6%	+23.9%	−56.3%	−53.9%	−56.3%	−38.2%	+3.4%	−5.2%	+280.9%	+2853.2%	+1707.9%	+3350.8%	−7.9%	−110.8%	+126.4%	+132.5%	+34.5%	+402.6%	−135.2%	−123.7%	−35.7%	−89.9%	−7.5%	−9.3%	+11.3%	–	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY17
Revenue from operations	623	617	699	866	584	366	540	574	121
Other income	11.4	17.8	35	5.5	20.2	20.5	6	6	1.9
Total expenses	626	567	619	777	593	378	514	509	106
EBITDA	16	69.5	97.6	107	10.6	5.4	41.7	80.3	19.3
EBITDA margin	2.6%	11.3%	14.0%	12.3%	1.8%	1.5%	7.7%	14.0%	15.9%
Finance costs	4.1	4.1	4.3	5.4	6	5.5	4.6	6.4	1.5
Depreciation	15.6	15.5	13.6	13.2	12.8	11.1	10.5	9.4	1.9
Profit before tax	7.8	67.7	115	93.7	12	9.4	32.5	70.5	8.6
Tax	1.3	17.1	27.3	20.3	2	0.6	0.6	23.5	2.8
Net profit	6.5	50.6	87.4	73.5	10	8.8	32	47	5.8
Net margin	1.0%	8.2%	12.5%	8.5%	1.7%	2.4%	5.9%	8.2%	4.8%
EPS (₹)	4.68	36.60	63.24	53.14	7.20	6.35	23.12	33.96	4.21
Net profit YoY	−87.2%	−42.1%	+19.0%	+637.8%	+13.4%	−72.5%	−31.9%	–	–

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	14.5	44.9	78.3	90.4	19.5
Investing cash flow	−18.8	−44.8	−59	−62.7	−5.8
Financing cash flow	5	−0.2	−19.5	−27.6	−13.7
Capital expenditure	52.7	46.3	25.6	6.6	9.3
Free cash flow (CFO − capex)	−38.2	−1.4	52.7	83.7	10.2

Net profit trend

annual, ₹ crore

FY21

₹8.8

FY22

₹10+13%

FY23

₹73.5+638%

FY24

₹87.4+19%

FY25

₹50.6−42%

FY26

₹6.5−87%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Standalone	12 Aug 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	20 May 2026	PDF on NSE XBRL
Q3 FY26	Standalone	10 Feb 2026	PDF on NSE XBRL
Q2 FY26	Standalone	11 Nov 2025	PDF XBRL
Q1 FY26	Standalone	12 Aug 2025	PDF XBRL
Q4 FY25	Standalone · audited	23 May 2025	PDF on NSE XBRL
Q3 FY25	Standalone	5 Feb 2025	PDF on NSE XBRL
Q2 FY25	Standalone	8 Nov 2024	PDF on NSE XBRL
Q1 FY25	Standalone	6 Aug 2024	PDF on NSE XBRL
Q4 FY24	Standalone · audited	13 May 2024	PDF on NSE XBRL

Annual reports

NSE archive

FY267.19 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 9.3×-12.8×

P/B5Y avg 0.70×0.42×

ROEFY26, on average equity1.5%

Net margin1.0%

Debt / equity0.14×

Revenue CAGR (3Y)-10.4%

Profit CAGR (3Y)-55.5%

EPS (TTM)₹-10.15

Market cap₹180 Cr

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

P/B vs history

0.42×

vs 8-point avg 0.70× (−39%)

0.40× low0.70× avg0.96× high

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

Balance sheet 31 Mar 2026

Total assets₹634 Cr+3%

Net worth₹427 Cr+0%

Total borrowings₹59 Cr+39%

Cash & bank balances₹1 Cr+476%

Investments₹214 Cr−11%

Inventories₹50 Cr+4%

Trade receivables₹42 Cr+13%

Trade payables₹51 Cr+2%

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	50.28	50.50	50.50	50.50	50.53	50.53	50.53	50.53	50.53	50.53	50.53	50.53
FII	0.23	0.24	0.24	0.24	0.24	0.28	0.24	0.30	0.32	0.28	0.24	0.27
DII	0.22	0.17	0.17	0.17	0.17	0.17	0.17	0.17	0.22	0.22	0.22	0.02
of which MF	0.01	0.01	0.01	0.01	0.01	–	–	–	–	–	–	–
Retail	26.06	26.12	26.23	26.41	26.17	26.00	25.96	26.17	26.42	26.37	25.10	24.27
Other public	23.21	22.97	22.86	22.68	22.89	23.02	23.10	22.83	22.51	22.60	23.91	24.91

16,219 shareholders · NSE shareholding pattern filings.