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Quarterly results

consolidated · as filed with NSE · Q1 FY27 back to Q2 FY20

₹ 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
Revenue from operations	572	783	737	460	529	676	559	462	322	513	369	257	156	434	328	307	282	339	335	267	217	284	168	175	115	163	211	154
Other income	16.3	22.4	4.3	13.9	20.3	6.9	9	11.8	4	1.3	1.7	1.1	1.8	0.6	4.1	1.8	1.6	4.2	4.9	1.5	2.7	6.2	1	1.3	1.1	0.9	1.1	3.5
Total expenses	501	686	633	429	459	567	495	409	298	458	350	255	173	420	319	291	274	341	331	260	215	280	167	171	121	167	210	156
EBITDA	93.3	118	125	51.5	88.2	131	84.8	69.2	42.2	71.6	38.4	19.7	4.4	33.1	31.4	34.2	22.7	14.9	18	21.3	16.4	21.6	18	20	8.9	15.8	16.4	12.3
EBITDA margin	16.3%	15.1%	17.0%	11.2%	16.7%	19.4%	15.2%	15.0%	13.1%	14.0%	10.4%	7.7%	2.8%	7.6%	9.6%	11.1%	8.1%	4.4%	5.4%	8.0%	7.6%	7.6%	10.7%	11.4%	7.8%	9.7%	7.8%	8.0%
Finance costs	14.8	14.4	13.4	12.9	10.5	14.9	13.5	10.5	11.7	10.9	13.2	11.5	15.2	12	12.3	13.4	10.2	13.4	9.8	10.1	10.3	12.7	11.8	11.2	10.6	14.8	10.5	9.7
Depreciation	6.8	7	8.1	7.3	7.6	7.3	6.5	6.4	6.8	6	6.3	6.2	6.2	6.9	9.3	4.2	4.1	3.5	4.7	4.3	4.5	4.8	4.8	4.9	4.9	4.8	4.9	5
Profit before tax	88	119	108	45.3	90.5	119	73.7	64.1	27.8	56	20.6	3	−15.2	14.8	13.9	18.4	10.1	2.3	8.4	8.3	4.4	10.4	2.4	5.2	−5.5	−2.9	2.2	1.2
Tax	23.7	28.1	31.8	8	23	25	18.3	18.2	7	14.4	4.9	1.1	−3	5.2	−0.3	6.2	3.6	1.9	2.8	2.8	1.5	3.8	1.3	1.7	−1.9	−1	0.7	0.4
Net profit	64.3	91.4	76	37.4	67.5	94.2	55.5	45.9	20.8	41.6	15.7	1.9	−12.2	9.6	14.1	12.2	6.4	0.4	5.6	5.5	2.9	6.6	1.1	3.5	−3.6	−2	1.6	0.8
Net margin	11.2%	11.7%	10.3%	8.1%	12.7%	13.9%	9.9%	9.9%	6.5%	8.1%	4.3%	0.7%	-7.8%	2.2%	4.3%	4.0%	2.3%	0.1%	1.7%	2.1%	1.3%	2.3%	0.7%	2.0%	-3.1%	-1.2%	0.7%	0.5%
EPS (₹)	2.05	3.04	2.46	1.13	2.24	3.17	3.67	3.04	1.40	2.80	1.10	0.12	-0.95	0.68	1.04	0.87	0.48	0.10	0.39	0.36	0.21	0.50	0.05	0.25	-0.26	-0.16	0.10	0.06
Net profit YoY	−4.7%	−3.0%	+36.9%	−18.6%	+223.9%	+126.3%	+252.9%	+2329.1%	+270.6%	+333.5%	+11.3%	−84.5%	−289.9%	+2494.6%	+153.5%	+122.2%	+125.6%	−94.4%	+401.8%	+56.0%	+179.2%	+428.4%	−28.8%	+329.3%	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20
Revenue from operations	2,509	2,019	1,295	1,381	1,158	742	701
Other income	60.9	31.7	5.8	8.2	13.3	9.6	15.9
Total expenses	2,207	1,770	1,236	1,332	1,148	739	715
EBITDA	383	327	134	121	70.6	68.5	51.4
EBITDA margin	15.3%	16.2%	10.4%	8.8%	6.1%	9.2%	7.3%
Finance costs	51.1	50.6	50.8	48	43.6	46.2	45.8
Depreciation	29.9	27	24.7	24.5	17	19.3	19.6
Profit before tax	363	285	64.4	57.1	23.3	12.5	1.8
Tax	90.9	68.4	17.4	14.7	9	4.9	0.8
Net profit	272	216	47	42.4	14.3	7.6	1.1
Net margin	10.8%	10.7%	3.6%	3.1%	1.2%	1.0%	0.1%
EPS (₹)	9.07	7.21	3.24	3.07	1.06	0.55	0.03
Net profit YoY	+25.8%	+360.3%	+11.0%	+196.6%	+87.2%	+626.7%	–

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	−105	157	29.2	28.4	1.9
Investing cash flow	−7.4	−625	−22.4	9.2	−8
Financing cash flow	116	472	−9.9	−44.9	17.2
Capital expenditure	109	235	−0.6	10.3	8.5
Free cash flow (CFO − capex)	−215	−78.2	28.6	18.1	−6.6

Net profit trend

annual, ₹ crore

FY21

₹7.6

FY22

₹14.3+87%

FY23

₹42.4+197%

FY24

₹47+11%

FY25

₹216+360%

FY26

₹272+26%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	20 Jul 2026	PDF XBRL
Q1 FY27	Consolidated	–	PDF on NSE XBRL
Q1 FY27	Standalone	20 Jul 2026	PDF XBRL
Q1 FY27	Standalone	–	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	21 Apr 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	21 Apr 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	8 Jan 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	–	PDF on NSE XBRL
Q3 FY26	Standalone	8 Jan 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	8 Nov 2025	PDF XBRL

Annual reports

NSE archive

FY269.57 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 62.2×31.0×

P/B5Y avg 7.42×5.50×

ROEFY26, on average equity19.7%

Net margin10.8%

Debt / equity0.30×

Revenue CAGR (3Y)22.0%

Profit CAGR (3Y)85.9%

EPS (TTM)₹8.96

Market cap₹8,332 Cr

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

P/B vs history

5.50×

vs 8-point avg 7.42× (−26%)

2.17× low7.42× avg12.85× high

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

Balance sheet 31 Mar 2026

Total assets₹2,666 Cr+22%

Net worth₹1,515 Cr+21%

Total borrowings₹457 Cr+61%

Cash & bank balances₹8 Cr+54%

Investments₹184 Cr−31%

Inventories₹616 Cr+38%

Trade receivables₹887 Cr+89%

Trade payables₹290 Cr−30%

Change vs the same date a year earlier.

Shareholding 30 Jun 2026

%	Jun 26	Mar 26	Dec 25	Sept 25	Jun 25	Mar 25	Feb 25	Dec 24	Sept 24	Jun 24	Jun 24	Mar 24
Promoter	64.36	64.36	64.36	64.36	64.36	64.36	64.36	64.36	66.16	66.16	66.16	69.65
FII	7.80	8.33	7.01	11.21	10.94	11.33	11.22	11.08	9.34	8.00	7.89	4.45
DII	1.53	1.77	4.19	5.95	6.03	7.22	7.52	7.67	6.92	6.33	5.36	1.89
of which MF	1.28	1.72	3.93	5.76	5.22	–	–	–	–	–	–	–
Retail	22.88	22.38	21.17	15.86	16.40	14.92	14.74	14.70	15.26	17.08	18.36	21.38
Other public	3.43	3.16	3.27	2.62	2.27	2.17	2.16	2.19	2.32	2.43	2.23	2.63

2,15,267 shareholders · NSE shareholding pattern filings.