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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	Q1 FY19	Q4 FY18
Revenue from operations	640	589	443	452	372	348	350	306	274	264	243	274	220	250	205	213	205	227	180	227	163	168	169	183	73.6	151	135	139	89.5	201	87.5	98	72.7	160
Other income	2.6	8.1	4.2	5.1	4	10.7	3.6	6.2	3.1	4.5	5.3	2.8	3.6	6.5	0.4	6.4	6.5	8.4	3.3	2.7	2.3	2.7	2.4	1.8	2.4	1.7	5	2.8	3.6	−0.6	5	2.5	2.3	1
Total expenses	526	499	369	376	308	289	294	257	231	228	208	232	187	212	177	192	183	203	164	209	154	154	151	162	85.6	143	134	137	95.3	179	96.5	101	83.7	154
EBITDA	122	97.9	80.4	82.6	68.8	65.5	61.3	55.6	48.4	41.8	39.7	47.2	38.6	43.4	33.3	25.7	27.7	30.6	21.8	24.1	15.4	19.1	24.1	27.8	−5	15	6.9	9.7	1.6	28.5	−2	4.7	−4	13.9
EBITDA margin	19.0%	16.6%	18.2%	18.3%	18.5%	18.8%	17.5%	18.1%	17.7%	15.9%	16.4%	17.2%	17.5%	17.4%	16.2%	12.1%	13.6%	13.5%	12.1%	10.6%	9.4%	11.3%	14.3%	15.2%	-6.8%	9.9%	5.1%	7.0%	1.8%	14.2%	-2.3%	4.8%	-5.5%	8.7%
Finance costs	0.2	0.3	0.5	0.7	0.4	0.5	0.4	1	1.2	0.2	0	0.1	0	0	0	0.2	0.9	0.7	0.2	0	1.1	−0.4	1.7	1.5	1.7	1.3	1.9	1.1	1.2	0.3	0.5	1.5	0.5	1.6
Depreciation	7.2	7	5.8	5.2	5	5.4	5	4.8	4.6	5.4	5.3	5.3	5.1	5.2	5	5.2	5.3	5.5	5.6	5.6	5.4	5.5	5.4	5.4	5.3	5.1	5	5.9	6.2	6.6	6.5	6.5	6.4	6.7
Profit before tax	117	98.7	78.2	81.8	67.4	70.3	59.6	56	45.8	40.8	39.7	44.6	37.1	46	28.8	26.7	28.1	32.8	24.8	21.2	13.2	18	25.3	22.8	−9.6	22.2	5	7.6	−2.1	21	−4	−0.8	−8.7	6.6
Tax	30.6	26.5	21.9	21.6	17.3	17.3	14.6	14.7	10.4	11.8	9.8	11.8	10.5	10.6	8.7	6.8	6.6	8.2	5.3	5.2	2.8	2.7	4.3	4.2	0.2	3.4	−1.7	1.9	−0.8	5.6	−0.3	−0.3	−0.8	2.9
Net profit	86.3	72.2	56.3	60.2	50.1	53	44.9	41.3	35.3	29	29.9	32.8	26.7	35.4	20.1	19.9	21.5	24.7	19.5	16.1	10.4	15.4	21	18.6	−9.8	18.8	6.7	5.7	−1.3	15.4	−3.8	−0.6	−7.9	3.7
Net margin	13.5%	12.3%	12.7%	13.3%	13.5%	15.2%	12.8%	13.5%	12.9%	11.0%	12.3%	12.0%	12.1%	14.1%	9.8%	9.4%	10.5%	10.9%	10.9%	7.1%	6.4%	9.1%	12.5%	10.2%	-13.3%	12.4%	5.0%	4.1%	-1.5%	7.7%	-4.3%	-0.6%	-10.8%	2.3%
EPS (₹)	5.52	4.62	3.61	3.85	3.21	3.40	2.88	2.64	2.26	1.86	1.91	2.10	1.71	2.27	1.29	1.28	6.95	8.00	6.33	5.23	3.40	5.04	6.89	6.10	-3.20	6.15	2.19	1.85	-0.43	4.71	-1.14	-0.17	-2.37	1.11
Net profit YoY	+72.3%	+36.2%	+25.3%	+45.8%	+41.7%	+82.7%	+50.3%	+25.9%	+32.6%	−17.9%	+49.0%	+64.7%	+24.0%	+43.3%	+2.7%	+23.9%	+106.9%	+60.4%	−7.0%	−13.7%	+205.9%	−18.3%	+213.0%	+224.0%	−631.3%	+22.4%	+279.1%	+1134.7%	+83.0%	+317.0%	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Revenue from operations	1,856	1,279	1,001	872	797	594	515	459	438
Other income	21.3	23.6	16.2	19.8	16.7	9.3	13.2	9.2	15.9
Total expenses	1,551	1,071	855	764	730	554	509	461	463
EBITDA	330	231	167	130	91.9	65.9	33.2	27.2	8.4
EBITDA margin	17.8%	18.0%	16.7%	14.9%	11.5%	11.1%	6.4%	5.9%	1.9%
Finance costs	1.9	3.1	0.3	1.1	2.1	4.5	5.5	2.8	6.7
Depreciation	23	19.7	21.1	20.7	22	21.5	22.2	26	27.1
Profit before tax	326	232	162	130	92.1	56.5	32.8	7.5	−9.5
Tax	87.3	57.1	43.9	32.7	21.4	11.3	2.8	4.3	4.9
Net profit	239	175	118	96.8	70.6	45.2	29.9	3.2	−14.4
Net margin	12.9%	13.7%	11.8%	11.1%	8.9%	7.6%	5.8%	0.7%	-3.3%
EPS (₹)	15.29	11.18	7.58	6.23	22.96	14.83	9.76	0.98	-4.34
Net profit YoY	+36.8%	+47.5%	+22.2%	+37.0%	+56.3%	+51.0%	+836.0%	+122.2%	–

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	129	39.5	84	88.6	10.9
Investing cash flow	−102	−33.6	−32.6	−10.4	−5.2
Financing cash flow	−20.6	−6.7	−15.7	−89.1	10.9
Capital expenditure	106	52.2	23.4	16	11.2
Free cash flow (CFO − capex)	22.7	−12.7	60.6	72.6	−0.3

Net profit trend

annual, ₹ crore

FY21

₹45.2

FY22

₹70.6+56%

FY23

₹96.8+37%

FY24

₹118+22%

FY25

₹175+48%

FY26

₹239+37%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	11 Aug 2026	PDF on NSE XBRL
Q1 FY27	Standalone	11 Aug 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	14 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	14 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	30 Oct 2025	PDF on NSE XBRL
Q2 FY26	Standalone	30 Oct 2025	PDF on NSE XBRL
Q1 FY26	Consolidated	6 Aug 2025	PDF on NSE XBRL
Q1 FY26	Standalone	6 Aug 2025	PDF on NSE XBRL

Annual reports

NSE archive

FY269.96 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)42.7×

P/B10.95×

ROEFY26, on average equity24.7%

Net margin12.9%

Debt / equity0.02×

Revenue CAGR (3Y)28.6%

Profit CAGR (3Y)35.1%

EPS (TTM)₹17.60

Market cap₹11,740 Cr

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

Balance sheet 31 Mar 2026

Total assets₹1,877 Cr+38%

Net worth₹1,072 Cr+25%

Total borrowings₹18 Cr+48%

Cash & bank balances₹78 Cr+5%

Investments₹0 Cr+0%

Inventories₹503 Cr+34%

Trade receivables₹742 Cr+70%

Trade payables₹412 Cr+78%

Change vs the same date a year earlier.

Revenue mix FY25

A) Manufacturing100.0%result ₹225 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	26.87	26.87	26.87	26.88	26.88	33.22	34.27	34.27	34.27	34.27	34.27	34.27
FII	26.18	26.68	24.36	23.55	23.70	19.12	17.80	16.24	14.85	12.85	11.36	10.11
DII	23.88	22.24	23.19	25.39	25.29	24.91	26.90	29.64	31.53	32.35	32.80	33.15
of which MF	21.88	19.08	19.18	21.87	21.93	–	–	–	–	–	–	–
Retail	17.69	18.81	19.90	19.73	19.68	18.77	17.41	16.56	16.30	17.12	17.87	18.61
Other public	5.38	5.40	5.68	4.45	4.45	3.98	3.62	3.29	3.05	3.41	3.70	3.86

1,34,081 shareholders · NSE shareholding pattern filings.