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Quarterly results

consolidated · as filed with NSE · Q1 FY27 back to Q1 FY19

₹ 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	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	Q1 FY19
Revenue from operations	736	1,037	917	911	875	1,018	944	891	790	917	854	910	808	994	786	768	758	641	610	595	659	585	520	422	607	519	465	421	534	467	406
Other income	25.3	22.2	15.4	15.4	17.7	18.9	18.3	16.5	18.1	16.1	29.3	21.6	23.6	22.8	17.2	15.4	14.7	12.9	12.9	12.3	18.4	17.1	13.8	15.3	20.5	20	20.6	20.5	20.8	17.3	18.8
Total expenses	767	857	834	841	791	796	781	770	739	724	741	774	709	786	663	654	594	526	510	512	520	485	439	371	475	432	386	354	426	378	342
EBITDA	90.8	303	209	200	206	344	284	245	170	317	232	254	212	314	231	217	250	203	177	165	215	176	156	125	204	154	139	121	160	141	110
EBITDA margin	12.3%	29.3%	22.8%	21.9%	23.6%	33.8%	30.1%	27.5%	21.5%	34.6%	27.1%	27.9%	26.2%	31.6%	29.4%	28.2%	33.0%	31.7%	29.1%	27.8%	32.7%	30.1%	30.0%	29.5%	33.6%	29.6%	30.0%	28.8%	30.0%	30.1%	27.0%
Finance costs	9.6	12.1	11.9	13.2	11.6	15.9	12.4	13.1	11.7	12.9	10.8	13	10.5	10.4	13.7	11.7	5.6	9.4	1.2	7.9	6.6	7.1	6.6	7.4	9.3	9.8	8.4	7.1	8	8.2	7.9
Depreciation	112	112	114	117	111	106	109	111	107	111	108	105	102	95.6	94.6	90.2	80.3	78.5	76.2	74.7	70	69.7	68.7	66.1	62.3	57	52.6	47.4	44.1	42.9	37.3
Profit before tax	−19.2	196	28.4	85.2	101	241	181	137	101	209	138	151	123	231	140	130	179	128	82.2	94.7	192	117	94.2	66.3	153	107	170	87.1	129	107	83.1
Tax	−10.2	48.1	13.4	18.1	14.6	57.2	49.7	31.2	25.6	20.4	26.7	34.2	29.5	52.2	30.2	28	31.3	24.4	15.5	17.4	31.6	14.3	10.1	8.3	32.8	14.9	42	15.1	28.6	19.8	16.9
Net profit	−9	148	15	67.1	86.7	183	131	106	75.7	189	112	117	93.4	179	110	102	148	104	66.7	77.3	161	102	84.1	58	120	91.8	128	72	100	87	66.2
Net margin	-1.2%	14.3%	1.6%	7.4%	9.9%	18.0%	13.9%	11.9%	9.6%	20.6%	13.1%	12.8%	11.6%	18.0%	14.0%	13.3%	19.5%	16.2%	10.9%	13.0%	24.4%	17.5%	16.2%	13.8%	19.8%	17.7%	27.6%	17.1%	18.7%	18.6%	16.3%
EPS (₹)	-0.22	3.68	0.37	1.67	2.16	4.56	3.27	2.64	1.89	4.70	2.78	2.90	2.33	4.46	2.74	2.55	3.71	2.57	1.64	1.91	4.04	2.57	2.12	1.47	3.03	2.32	3.23	1.82	5.05	4.39	3.34
Net profit YoY	−110.4%	−19.3%	−88.6%	−36.8%	+14.5%	−2.8%	+17.6%	−8.9%	−19.0%	+5.5%	+1.6%	+14.2%	–	+20.9%	+5.5%	+52.9%	−8.0%	+1.8%	−20.7%	+33.3%	+33.6%	+11.3%	−34.3%	−19.4%	+20.1%	+5.5%	–	+8.8%	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19
Revenue from operations	3,739	3,642	3,489	3,193	2,604	2,184	2,012	1,826
Other income	70.7	71.8	90.6	70.9	52.8	64.6	81.6	75.1
Total expenses	3,322	3,086	2,947	2,670	2,142	1,815	1,648	1,485
EBITDA	919	1,042	1,014	934	796	672	618	537
EBITDA margin	24.6%	28.6%	29.1%	29.3%	30.6%	30.8%	30.7%	29.4%
Finance costs	48.8	53.1	47.2	45.2	24.1	27.7	34.6	32.3
Depreciation	453	433	426	367	310	275	219	164
Profit before tax	411	660	621	594	484	469	517	415
Tax	94.2	164	111	129	88.6	64.3	105	83.8
Net profit	317	496	510	464	396	405	412	332
Net margin	8.5%	13.6%	14.6%	14.5%	15.2%	18.5%	20.5%	18.2%
EPS (₹)	7.87	12.35	12.71	11.59	9.94	10.18	10.38	16.77
Net profit YoY	−36.2%	−2.7%	+9.8%	+17.3%	−2.2%	−1.7%	+24.3%	–

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	915	1,168	1,042	824	581
Investing cash flow	−860	−745	−496	−656	−612
Financing cash flow	−215	−142	−551	−343	−31.3
Capital expenditure	344	760	492	507	475
Free cash flow (CFO − capex)	571	407	550	317	105

Net profit trend

annual, ₹ crore

FY21

₹405

FY22

₹396−2%

FY23

₹464+17%

FY24

₹510+10%

FY25

₹496−3%

FY26

₹317−36%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	29 Jul 2026	PDF on NSE XBRL
Q1 FY27	Standalone	29 Jul 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	29 Apr 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	29 Apr 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	22 Jan 2026	PDF on NSE XBRL
Q3 FY26	Standalone	22 Jan 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	5 Nov 2025	PDF on NSE XBRL
Q2 FY26	Standalone	5 Nov 2025	PDF on NSE XBRL
Q1 FY26	Consolidated	23 Jul 2025	PDF on NSE XBRL
Q1 FY26	Standalone	23 Jul 2025	PDF on NSE XBRL

Annual reports

NSE archive

FY264.63 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 53.9×69.0×

P/B5Y avg 6.43×3.15×

ROEFY26, on average equity6.6%

Net margin8.5%

Debt / equity0.00×

Revenue CAGR (3Y)5.4%

Profit CAGR (3Y)-12.0%

EPS (TTM)₹5.49

Market cap₹15,258 Cr

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

P/B vs history

3.15×

vs 8-point avg 6.43× (−51%)

3.15× low6.43× avg8.33× high

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

Balance sheet 31 Mar 2026

Total assets₹7,055 Cr+4%

Net worth₹4,839 Cr+2%

Total borrowings₹9 Cr−92%

Cash & bank balances₹229 Cr−38%

Investments₹741 Cr+15%

Inventories₹141 Cr−9%

Trade receivables₹509 Cr−3%

Trade payables₹348 Cr−1%

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	52.59	52.68	52.68	52.68	52.68	52.74	52.74	54.72	54.72	54.79	54.79	54.79
FII	11.82	13.90	14.96	16.31	16.50	19.47	20.64	20.72	20.63	20.92	21.20	23.55
DII	28.02	26.44	25.84	24.62	24.05	21.50	19.53	17.48	16.80	15.80	14.64	11.71
of which MF	25.78	24.18	22.71	21.22	20.70	–	–	–	–	–	–	–
Retail	6.14	5.51	5.37	5.28	5.59	5.07	5.59	5.46	6.08	6.45	7.24	7.52
Other public	1.00	1.18	0.85	0.80	0.86	0.93	1.21	1.28	1.34	1.73	1.81	1.94

1,42,277 shareholders · NSE shareholding pattern filings.