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 | Q1 FY20 | Q4 FY19 | Q3 FY19 | Q2 FY19 | Q4 FY18 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 3,279 | 2,536 | 3,081 | 2,119 | 2,965 | 2,617 | 2,843 | 2,170 | 2,527 | 2,192 | 2,493 | 1,913 | 2,016 | 1,914 | 2,261 | 1,496 | 1,779 | 1,464 | 1,858 | 963 | 1,269 | 1,076 | 1,396 | 804 | 952 | 929 | 1,237 | 703 | 875 | 836 | 844 | 593 | 626 |
| Other income | 6.8 | 37.6 | 11.4 | 31.4 | 24.2 | 11.2 | 21.5 | 19.2 | 18.9 | 54.7 | 19.5 | 23.2 | 28.1 | 25 | 16.6 | 11.1 | 18.2 | 45 | 15.3 | 13.5 | 28.2 | 18.9 | 3.3 | 2.4 | 3.1 | 12.2 | 8.6 | 20.8 | 16.8 | 7.5 | −4.7 | 16.7 | 11.9 |
| Total expenses | 3,149 | 2,372 | 2,920 | 1,987 | 2,837 | 2,478 | 2,727 | 2,045 | 2,405 | 2,103 | 2,341 | 1,769 | 1,889 | 1,788 | 2,122 | 1,359 | 1,654 | 1,373 | 1,744 | 857 | 1,182 | 986 | 1,300 | 730 | 888 | 858 | 1,141 | 625 | 798 | 752 | 748 | 523 | 566 |
| EBITDA | 171 | 209 | 200 | 173 | 160 | 173 | 164 | 177 | 176 | 144 | 208 | 197 | 178 | 152 | 156 | 155 | 142 | 108 | 132 | 123 | 101 | 103 | 111 | 87.3 | 78.1 | 83 | 110 | 90.5 | 89.6 | 88.4 | 99.8 | 74 | 63.5 |
| EBITDA margin | 5.2% | 8.2% | 6.5% | 8.1% | 5.4% | 6.6% | 5.8% | 8.2% | 7.0% | 6.6% | 8.3% | 10.3% | 8.8% | 7.9% | 6.9% | 10.3% | 8.0% | 7.4% | 7.1% | 12.8% | 8.0% | 9.6% | 7.9% | 10.9% | 8.2% | 8.9% | 8.9% | 12.9% | 10.2% | 10.6% | 11.8% | 12.5% | 10.2% |
| Finance costs | 12 | 19.1 | 13 | 14.2 | 5.1 | 10.1 | 16 | 19.2 | 20 | 21.6 | 21.9 | 20.7 | 20.8 | 7.2 | 3.9 | 3.8 | 3.7 | 4.2 | 4.7 | 4.7 | 4.4 | 3.6 | 4.6 | 3.8 | 3.4 | 3.6 | 4.3 | 3.5 | 3.8 | 0.7 | 1.1 | 1 | 1 |
| Depreciation | 28.4 | 25.4 | 26.5 | 26.3 | 26.1 | 23 | 32.3 | 32.9 | 33.3 | 33.7 | 33.7 | 33.3 | 31.2 | 18.9 | 13.6 | 13.6 | 13 | 13.1 | 12.7 | 11.7 | 9.9 | 9.4 | 9.9 | 10.1 | 10.2 | 9.2 | 9.1 | 9.2 | 9 | 4 | 3 | 2.9 | 3 |
| Profit before tax | 137 | 170 | 141 | 164 | 153 | 151 | 137 | 144 | 142 | 144 | −3.1 | 167 | 154 | 150 | 155 | 148 | 143 | 136 | 130 | 120 | 115 | 109 | 99.6 | 75.9 | 67.6 | 82.4 | 105 | 98.6 | 93.6 | 92.1 | 91.1 | 86.9 | 71.5 |
| Tax | 29 | 39.7 | 36.4 | 43.4 | 43.4 | 43.2 | 31.8 | 37.9 | 36.1 | 33.2 | 43.1 | 42.3 | 34.3 | 36.7 | 37.7 | 35.6 | 35.4 | 34.9 | 31.9 | 29 | 28.1 | 26 | 45.8 | 18.7 | 17.7 | 20.6 | 29 | 26.4 | 26.6 | 26.8 | 27.1 | 24.7 | 17.2 |
| Net profit | 108 | 131 | 104 | 120 | 109 | 108 | 105 | 106 | 106 | 110 | −46.2 | 124 | 120 | 114 | 118 | 113 | 108 | 101 | 97.7 | 91.2 | 86.7 | 83.1 | 53.8 | 57.2 | 49.9 | 61.8 | 75.9 | 72.2 | 67.1 | 65.4 | 63.9 | 62.2 | 54.3 |
| Net margin | 3.3% | 5.1% | 3.4% | 5.7% | 3.7% | 4.1% | 3.7% | 4.9% | 4.2% | 5.0% | -1.9% | 6.5% | 6.0% | 5.9% | 5.2% | 7.5% | 6.1% | 6.9% | 5.3% | 9.5% | 6.8% | 7.7% | 3.9% | 7.1% | 5.2% | 6.7% | 6.1% | 10.3% | 7.7% | 7.8% | 7.6% | 10.5% | 8.7% |
| EPS (₹) | 3.91 | 4.71 | 3.76 | 4.33 | 3.94 | 3.87 | 3.78 | 3.84 | 3.81 | 3.97 | -1.66 | 8.96 | 8.66 | 8.20 | 8.48 | 8.13 | 10.37 | 9.71 | 9.40 | 8.77 | 8.35 | 7.99 | 5.18 | 5.50 | 4.80 | 5.95 | 7.30 | 6.95 | 6.45 | 6.29 | 6.17 | 5.99 | 5.28 |
| Net profit YoY | −1.1% | +21.4% | −0.6% | +12.9% | +3.5% | −2.6% | +327.5% | −14.2% | −12.1% | −3.0% | −139.2% | +10.2% | +11.5% | +12.8% | +20.5% | +23.6% | +24.2% | +21.5% | +81.6% | +59.4% | +73.7% | +34.4% | −29.1% | −20.8% | −25.5% | −5.4% | +18.7% | +16.2% | – | +20.4% | – | – | – |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 10,701 | 10,157 | 8,613 | 7,449 | 5,553 | 4,228 | 3,743 | 2,961 | 2,454 |
| Other income | 105 | 71.2 | 126 | 70.8 | 102 | 27.8 | 58.4 | 27.3 | 45.5 |
| Total expenses | 10,116 | 9,655 | 8,103 | 6,923 | 5,155 | 3,904 | 3,422 | 2,641 | 2,240 |
| EBITDA | 741 | 689 | 727 | 604 | 464 | 379 | 373 | 336 | 231 |
| EBITDA margin | 6.9% | 6.8% | 8.4% | 8.1% | 8.4% | 9.0% | 10.0% | 11.3% | 9.4% |
| Finance costs | 51.4 | 65.3 | 85 | 18.5 | 18.1 | 15.4 | 15.2 | 3.4 | 4.8 |
| Depreciation | 104 | 121 | 132 | 59.1 | 47.3 | 39.6 | 36.5 | 12.7 | 12.4 |
| Profit before tax | 627 | 574 | 461 | 597 | 500 | 352 | 379 | 349 | 260 |
| Tax | 163 | 149 | 153 | 145 | 124 | 108 | 103 | 101 | 68.2 |
| Net profit | 464 | 425 | 309 | 452 | 376 | 244 | 277 | 249 | 192 |
| Net margin | 4.3% | 4.2% | 3.6% | 6.1% | 6.8% | 5.8% | 7.4% | 8.4% | 7.8% |
| EPS (₹) | 16.74 | 15.30 | 11.12 | 32.58 | 36.23 | 23.48 | 26.66 | 23.99 | 18.54 |
| Net profit YoY | +9.4% | +37.7% | −31.7% | +20.0% | +54.3% | −11.9% | +11.3% | +29.5% | – |
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 | 538 | 644 | 281 | 268 | 486 |
| Investing cash flow | −217 | −436 | −54.3 | −855 | −119 |
| Financing cash flow | −266 | −433 | −109 | 187 | −271 |
| Capital expenditure | 70.5 | 42.5 | 25.4 | 41.1 | 9.6 |
| Free cash flow (CFO − capex) | 468 | 602 | 255 | 227 | 476 |
Net profit trend
annual, ₹ croreFY21
₹244
FY22
₹376+54%
FY23
₹452+20%
FY24
₹309−32%
FY25
₹425+38%
FY26
₹464+9%
Result filings
as filed with NSE · PDF and XBRL| Period | Basis | Filed | Documents |
|---|---|---|---|
| Q1 FY27 | Consolidated | 6 Aug 2026 | PDF on NSE XBRL |
| Q1 FY27 | Standalone | 6 Aug 2026 | PDF on NSE XBRL |
| Q4 FY26 | Consolidated · audited | 7 May 2026 | PDF on NSE XBRL |
| Q4 FY26 | Standalone · audited | 7 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 | 13 Nov 2025 | PDF XBRL |
| Q2 FY26 | Standalone | 13 Nov 2025 | PDF XBRL |
| Q1 FY26 | Consolidated | 30 Jul 2025 | PDF XBRL |
| Q1 FY26 | Standalone | – | PDF on NSE XBRL |
Annual reports
NSE archiveKey ratios
P/E (TTM)5Y avg 31.4×16.7×
P/B5Y avg 8.14×4.07×
ROEFY26, on average equity25.7%
Net margin4.3%
Debt / equity0.30×
Revenue CAGR (3Y)12.8%
Profit CAGR (3Y)0.9%
EPS (TTM)₹16.73
Market cap₹7,748 Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
4.07×
vs 8-point avg 8.14× (−50%)
3.05× low8.14× avg14.22× high
History points are balance-sheet dates (2022 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹5,091 Cr+7%
Net worth₹1,905 Cr+12%
Total borrowings₹568 Cr+29%
Cash & bank balances₹373 Cr+20%
Investments₹186 Cr−25%
Inventories₹37 Cr−22%
Trade receivables₹1,849 Cr+6%
Trade payables₹1,800 Cr+16%
Change vs the same date a year earlier.
Revenue mix FY26
India61.2%result ₹345 Cr
Other than India38.8%result ₹498 Cr
Segment revenue as reported, before inter-segment eliminations.