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Quarterly results

standalone · 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	Q1 FY19	Q4 FY18
Revenue from operations	768	656	648	615	721	702	691	653	699	599	485	595	544	615	557	550	650	624	512	588	455	637	485	395	116	359	340	437	443	482	446	568	595	511
Other income	2.5	2.1	1.2	2.3	1.9	1.3	1.4	6.4	2.5	2.4	1.7	3	2.1	3	2.4	3.6	6.1	0.9	1.6	6.9	4.4	3.6	3.6	4.2	1	1.6	1.5	1.8	1.9	1.1	2.8	3.8	0.9	2.5
Total expenses	584	546	586	549	649	631	628	565	619	537	437	522	503	560	519	521	540	495	440	475	341	424	353	344	147	352	347	432	431	504	484	561	569	463
EBITDA	199	124	74.5	79.5	84.2	81.7	74	98.8	89.7	71.9	57.9	82.8	50.9	66.2	48.7	39.6	121	141	82.7	125	126	227	144	63.4	−20.5	21.5	4.4	15.4	23.7	−8.1	−28.3	15.2	33.8	56
EBITDA margin	25.9%	18.9%	11.5%	12.9%	11.7%	11.6%	10.7%	15.1%	12.8%	12.0%	11.9%	13.9%	9.4%	10.8%	8.7%	7.2%	18.6%	22.6%	16.1%	21.2%	27.8%	35.7%	29.7%	16.1%	-17.7%	6.0%	1.3%	3.5%	5.3%	-1.7%	-6.4%	2.7%	5.7%	11.0%
Finance costs	1.4	1.3	1.1	1.7	1.5	1	1.1	0.9	0.6	0.6	0.7	0.7	0.7	1.4	1.3	1.3	1.3	2.2	1.4	1.5	3.2	5.3	3.3	3.7	2.4	4.9	3.9	3	4.1	4.5	4.5	1.8	1.9	1.8
Depreciation	13.3	12.8	11.9	11.6	10.8	10	10	9.9	9.3	9.2	9.2	9.2	9.1	9.6	9.5	9.5	9.4	9.4	9.4	9.7	9.1	9.2	9.2	8.9	8.8	9.4	7.9	7.2	7.2	8.9	5.4	6.4	6.2	6.3
Profit before tax	187	112	59.7	68.4	73.9	72	64.3	94.4	82.3	64.4	49.7	75.9	43.2	58.2	40.4	32.4	116	130	73.4	121	118	216	135	55.1	−30.7	8.9	−43.8	7	14.3	−20.3	−35.5	10.7	26.6	50.4
Tax	49.4	28.1	15.4	17.6	19	18.9	16.6	24.3	21.1	15.1	14.8	19.5	10.8	15.8	10.2	8.8	29.1	31	26	30.6	32.4	55.1	32.3	19.2	−10.7	4.4	−10.6	−2.8	5	−6.7	−12.7	3.7	9.7	18.2
Net profit	137	84.3	44.3	50.8	54.9	53.2	47.7	70.1	61.2	49.4	34.9	56.4	32.4	42.4	30.2	23.6	86.8	99.1	47.4	90	86	161	103	35.8	−20	4.5	−33.1	9.9	9.3	−13.6	−22.8	7	16.9	32.2
Net margin	17.9%	12.8%	6.8%	8.3%	7.6%	7.6%	6.9%	10.7%	8.8%	8.2%	7.2%	9.5%	6.0%	6.9%	5.4%	4.3%	13.4%	15.9%	9.3%	15.3%	18.9%	25.4%	21.2%	9.1%	-17.3%	1.2%	-9.8%	2.3%	2.1%	-2.8%	-5.1%	1.2%	2.8%	6.3%
EPS (₹)	78.09	47.94	25.19	28.88	31.20	30.23	27.12	39.86	34.80	28.07	19.87	32.08	18.45	24.13	17.17	13.42	49.35	56.33	26.97	51.19	48.92	91.78	58.57	20.38	-11.39	2.53	-18.85	5.62	5.28	-7.73	-12.95	3.99	9.60	18.31
Net profit YoY	+150.3%	+58.6%	−7.1%	−27.6%	−10.3%	+7.7%	+36.5%	+24.3%	+88.7%	+16.3%	+15.7%	+139.0%	−62.6%	−57.2%	−36.3%	−73.8%	+0.9%	−38.6%	−54.0%	+151.2%	+529.6%	+3524.9%	+410.8%	+262.7%	−315.6%	+132.7%	−45.6%	+40.9%	−45.0%	−142.2%	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Revenue from operations	2,640	2,744	2,222	2,372	2,179	1,631	1,579	2,091	1,951
Other income	6.4	10.8	9.3	15.1	13.9	13.1	6.8	13.1	6.9
Total expenses	2,330	2,442	1,998	2,140	1,750	1,268	1,561	2,122	1,854
EBITDA	363	345	264	275	475	414	65.1	8	135
EBITDA margin	13.8%	12.6%	11.9%	11.6%	21.8%	25.4%	4.1%	0.4%	6.9%
Finance costs	5.6	3.5	2.8	5.3	8.2	14.6	15.9	12.7	13.7
Depreciation	47.1	39.3	36.8	38	37.6	36	31.6	26.9	25.4
Profit before tax	314	313	233	247	443	376	−13.5	−18.5	103
Tax	80	80.8	60.1	64	120	95.9	−4	−6	36.9
Net profit	234	232	173	183	323	280	−9.5	−12.5	66.2
Net margin	8.9%	8.5%	7.8%	7.7%	14.8%	17.2%	-0.6%	-0.6%	3.4%
EPS (₹)	133.22	132.02	98.48	104.07	183.31	159.34	-5.41	-7.09	37.66
Net profit YoY	+0.9%	+34.1%	−5.4%	−43.3%	+15.1%	+3042.6%	+23.6%	−118.8%	–

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	268	147	216	270	356
Investing cash flow	−168	−37.2	−88	−136	82.9
Financing cash flow	−118	−118	−177	−198	−412
Capital expenditure	94.3	57.4	38.6	17.6	14.6
Free cash flow (CFO − capex)	174	89.2	178	252	342

Net profit trend

annual, ₹ crore

FY21

₹280

FY22

₹323+15%

FY23

₹183−43%

FY24

₹173−5%

FY25

₹232+34%

FY26

₹234+1%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	4 Aug 2026	PDF on NSE XBRL
Q1 FY27	Standalone	4 Aug 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	16 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	16 May 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	29 Jan 2026	PDF on NSE XBRL
Q3 FY26	Standalone	29 Jan 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	12 Nov 2025	PDF on NSE XBRL
Q2 FY26	Standalone	12 Nov 2025	PDF on NSE XBRL
Q1 FY26	Consolidated	13 Aug 2025	PDF XBRL
Q1 FY26	Standalone	13 Aug 2025	PDF XBRL

Annual reports

NSE archive

FY2613.38 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 13.9×11.5×

P/B5Y avg 3.56×3.67×

ROEFY26, on average equity25.4%

Net margin8.9%

Debt / equity0.01×

Revenue CAGR (3Y)3.6%

Profit CAGR (3Y)8.6%

EPS (TTM)₹180.05

Market cap₹3,636 Cr

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

P/B vs history

3.67×

vs 8-point avg 3.56× (+3%)

1.76× low3.56× avg5.64× high

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

Balance sheet 31 Mar 2026

Total assets₹1,473 Cr+6%

Net worth₹990 Cr+16%

Total borrowings₹10 Cr+1%

Cash & bank balances₹28 Cr−40%

Investments₹114 Cr+211%

Inventories₹460 Cr−20%

Trade receivables₹362 Cr+4%

Trade payables₹337 Cr−25%

Change vs the same date a year earlier.

Revenue mix FY23

(a) Specialties67.4%result ₹174 Cr

(b) Polystyrene32.6%result ₹81.9 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	46.24	46.24	46.24	46.24	46.24	46.24	46.24	46.24	46.24	62.73	62.73	62.73
FII	0.86	0.95	1.22	2.19	2.72	2.48	3.37	2.95	4.96	2.09	2.53	2.26
DII	17.44	17.33	15.75	12.79	12.07	12.52	11.29	10.27	10.59	4.99	5.02	4.82
of which MF	13.92	13.82	12.22	9.41	8.74	–	–	–	–	–	–	–
Retail	26.28	26.33	27.23	28.07	28.41	28.23	28.67	30.11	27.58	24.10	24.09	23.76
Other public	9.18	9.15	9.56	10.71	10.56	10.53	10.43	10.43	10.63	6.09	5.63	6.43

44,820 shareholders · NSE shareholding pattern filings.