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Quarterly results

consolidated · 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	1,070	1,042	979	941	863	877	832	834	735	783	724	709	680	699	692	716	645	506	479	494	362	513	507	443	177	389	412	398	363	43.1	406	391	362	406
Other income	4.2	31.3	10.8	34.7	39	9.9	13.3	12.5	10.5	19.4	9	18.7	12.9	5.6	5.2	21.7	18.1	6.8	8.1	15.2	6.6	12.2	7	8.6	5.8	4.2	5.3	13.4	6.1	1.3	18.4	3	4.1	6.8
Total expenses	997	976	941	895	831	837	785	818	687	729	676	678	645	647	646	669	621	448	443	432	331	448	441	390	202	354	382	364	331	38.4	361	355	323	348
EBITDA	129	120	94.9	99.6	81.7	87	97	63	86.4	94.4	87.3	69.8	71.5	87.1	80.9	78.7	54	76.6	54.1	80.1	49.2	81.7	86.4	73.5	−4.8	54.9	50.1	55.8	51.3	6.4	60.7	53.1	55.4	73.4
EBITDA margin	12.0%	11.6%	9.7%	10.6%	9.5%	9.9%	11.7%	7.6%	11.8%	12.1%	12.1%	9.8%	10.5%	12.5%	11.7%	11.0%	8.4%	15.1%	11.3%	16.2%	13.6%	15.9%	17.0%	16.6%	-2.7%	14.1%	12.1%	14.0%	14.1%	14.7%	15.0%	13.6%	15.3%	18.1%
Finance costs	17.2	14.2	17.8	16.1	15.4	14.3	19.2	14.6	12.3	12.8	13.2	13.6	11.8	11.5	10.4	7.7	6.1	3.2	3.1	3.5	4.7	2.8	5.4	5.5	5.5	5.7	5.2	5.2	6.6	0.6	5.8	6.3	6.4	5.9
Depreciation	39.3	40.3	39.3	37	34.4	32.4	30.9	32.4	26.2	27.5	25.8	25.7	24.7	23.1	24.7	23.9	23.7	15.2	14.4	14.6	14.3	14.3	14.3	14.4	13.8	14.5	14.9	15.9	12.8	1.1	10.3	10.1	9.9	9.5
Profit before tax	76.4	97.2	40.8	81.2	71	50.2	60.3	28.5	58.4	73.4	57.2	49.2	47.9	58.1	51	68.8	42.3	65	44.7	72.6	52.9	76.8	73.6	62.2	−18.3	11.5	35.3	48	38	5.9	63	39.6	43.3	64.9
Tax	24.2	26.1	28.3	30.2	22.9	23	26.9	28	20.3	14.3	16.9	14.5	14.8	17.1	12.9	23.1	15	16.4	13	23.1	9.7	19.3	22	14.1	−3.8	8.6	4.1	3	13.2	1.8	23.8	15.5	14.5	8.5
Net profit	52.2	71.1	12.5	50.9	48.1	27.2	33.4	0.5	38.1	59.2	40.2	34.8	33.1	41	38	45.7	27.3	48.6	31.7	49.6	43.2	57.5	51.6	48.1	−14.5	3	31.2	45	24.8	4.2	39.2	24.1	28.8	56.3
Net margin	4.9%	6.8%	1.3%	5.4%	5.6%	3.1%	4.0%	0.1%	5.2%	7.6%	5.6%	4.9%	4.9%	5.9%	5.5%	6.4%	4.2%	9.6%	6.6%	10.0%	11.9%	11.2%	10.2%	10.8%	-8.2%	0.8%	7.6%	11.3%	6.8%	9.7%	9.7%	6.1%	8.0%	13.9%
EPS (₹)	3.80	5.18	0.91	3.71	3.51	1.98	2.44	0.03	2.75	4.27	2.91	2.51	2.39	2.96	2.75	3.31	1.97	3.51	2.29	3.58	3.10	4.11	3.69	3.44	-1.04	0.21	2.23	3.21	1.78	2.98	2.80	1.72	2.06	4.03
Net profit YoY	+8.6%	+161.1%	−62.5%	+10492.1%	+26.1%	−54.0%	−17.0%	−98.6%	+15.2%	+44.2%	+5.8%	−24.0%	+21.2%	−15.7%	+19.9%	−7.7%	−36.7%	−15.4%	−38.6%	+3.1%	+397.5%	+1835.8%	+65.6%	+6.9%	−158.4%	−28.8%	−20.4%	+86.9%	−13.8%	–	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY17
Revenue from operations	3,825	3,277	2,896	2,752	1,840	1,641	1,563	159	385
Other income	116	46.2	59.9	38.6	36.6	33.6	22.4	3.8	4.9
Total expenses	3,643	3,126	2,728	2,571	1,654	1,480	1,425	142	336
EBITDA	397	333	323	313	260	237	219	23.3	65.2
EBITDA margin	10.4%	10.2%	11.2%	11.4%	14.1%	14.4%	14.0%	14.6%	16.9%
Finance costs	63.5	60.4	51.4	35.6	14.5	19.2	22.7	2.5	6.9
Depreciation	151	122	104	95.5	58.5	56.8	58.1	4.1	9.5
Profit before tax	290	197	228	220	235	194	133	20.5	54.2
Tax	108	98.1	60.5	68.1	62.1	51.6	28.9	7.1	13.6
Net profit	183	99.3	167	152	173	143	104	13.4	40.6
Net margin	4.8%	3.0%	5.8%	5.5%	9.4%	8.7%	6.7%	8.4%	10.5%
EPS (₹)	13.31	7.20	12.08	10.99	12.49	10.20	7.43	9.57	2.90
Net profit YoY	+84.0%	−40.7%	+10.0%	−12.1%	+21.3%	+37.3%	+677.1%	–	–

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	171	185	249	239	182
Investing cash flow	−105	77	−112	−558	36.5
Financing cash flow	−120	−238	−122	223	−111
Capital expenditure	118	111	91.2	91.9	52.7
Free cash flow (CFO − capex)	53	73.7	158	147	129

Net profit trend

annual, ₹ crore

FY21

₹143

FY22

₹173+21%

FY23

₹152−12%

FY24

₹167+10%

FY25

₹99.3−41%

FY26

₹183+84%

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	25 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	25 May 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	9 Feb 2026	PDF on NSE XBRL
Q3 FY26	Standalone	9 Feb 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	10 Nov 2025	PDF on NSE XBRL
Q2 FY26	Standalone	10 Nov 2025	PDF on NSE XBRL
Q1 FY26	Consolidated	9 Aug 2025	PDF XBRL
Q1 FY26	Standalone	9 Aug 2025	PDF XBRL

Annual reports

NSE archive

FY2623.22 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 36.7×35.8×

P/B5Y avg 4.29×4.66×

ROEFY26, on average equity13.4%

Net margin4.8%

Debt / equity0.55×

Revenue CAGR (3Y)11.6%

Profit CAGR (3Y)6.3%

EPS (TTM)₹13.62

Market cap₹6,694 Cr

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

P/B vs history

4.66×

vs 8-point avg 4.29× (+9%)

3.82× low4.29× avg5.59× high

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

Balance sheet 31 Mar 2026

Total assets₹3,173 Cr+16%

Net worth₹1,437 Cr+12%

Total borrowings₹785 Cr+19%

Cash & bank balances₹100 Cr−29%

Investments₹248 Cr−1%

Inventories₹708 Cr+30%

Trade receivables₹711 Cr+22%

Trade payables₹418 Cr+11%

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	45.27	45.27	45.14	45.13	45.09	44.61	44.64	44.64	44.61	44.61	44.62	44.62
FII	6.54	6.51	6.79	6.65	7.10	7.05	6.82	6.30	5.82	4.79	4.56	4.76
DII	17.01	17.18	17.09	17.09	16.73	17.20	17.25	17.21	16.95	17.51	16.22	15.87
of which MF	16.53	16.73	16.87	16.75	16.53	–	–	–	–	–	–	–
Retail	23.93	23.82	23.73	23.82	24.60	25.09	25.21	25.57	26.07	26.31	27.63	27.77
Other public	7.25	7.22	7.25	7.31	6.48	6.05	6.08	6.28	6.55	6.78	6.97	6.98

68,962 shareholders · NSE shareholding pattern filings.