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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	Q1 FY21	Q4 FY20	Q3 FY20	Q2 FY20	Q1 FY20	Q4 FY19	Q3 FY19	Q2 FY19	Q1 FY19	Q4 FY18
Revenue from operations	2,092	1,771	2,146	2,074	2,408	1,969	2,061	2,004	2,106	1,664	1,893	1,843	1,899	1,313	1,536	1,222	976	522	748	330	288	357	236	85.1	1,090	1,727	1,700	2,318	1,363	1,556	1,600	2,085	2,573
Other income	61.1	34.8	40.9	38.8	45.1	53.1	22.1	43.4	28.4	28.8	47.7	27.9	32.9	10.7	26	13.1	13.6	6.7	2.2	21.3	27.7	44.3	34.9	45.8	19.1	30.9	47.6	18.1	74.5	13.8	11.3	15.9	89.4
Total expenses	2,065	1,758	2,097	2,029	2,342	1,930	2,008	1,938	2,025	1,632	1,834	1,795	1,831	1,330	1,533	1,230	990	578	787	461	440	466	361	267	1,190	1,740	1,751	2,294	1,456	1,548	1,623	2,035	2,661
EBITDA	93	78.4	114	108	127	98.3	116	125	136	91.2	116	103	124	36.1	63.9	41.6	36.2	−7.5	10.9	−82.4	−109	−59.9	−73.7	−126	−35.6	49.3	7.6	85.8	−54.6	42	11.8	82.8	5.6
EBITDA margin	4.4%	4.4%	5.3%	5.2%	5.3%	5.0%	5.6%	6.2%	6.5%	5.5%	6.2%	5.6%	6.5%	2.8%	4.2%	3.4%	3.7%	-1.4%	1.5%	-25.0%	-37.7%	-16.8%	-31.2%	-148.3%	-3.3%	2.9%	0.4%	3.7%	-4.0%	2.7%	0.7%	4.0%	0.2%
Finance costs	23.5	23	24.2	23.7	23.8	23.5	26	23.6	21.5	26.5	24.2	22.7	25.9	23.2	27.8	18.5	19.6	17.2	16.5	16.1	11.8	15.6	14.1	15.4	24.1	25.3	24.5	27.1	20.1	17.8	18.3	16.8	37.2
Depreciation	42.2	42.4	41.5	39.2	36.5	36.4	36.9	34.7	33.9	32.8	33.2	31.5	30.2	29.9	32.3	31.4	30.5	30.8	33.1	32.7	32.1	33.1	36.5	40.3	40.5	36.7	34.2	35.2	18	16.4	16.6	16.2	56.4
Profit before tax	88.3	46.1	59.6	110	111	88.4	71.3	110	109	60.7	107	76.6	101	−6.2	29.8	4.9	−2.3	−51.8	−36.4	−110	−125	−68.1	−89.3	−136	−120	18.2	−3.4	41.6	−18.2	21.6	−11.9	65.7	5,827
Tax	24.8	18.5	14.8	39.3	37.9	25.1	24.6	38	36.1	4.2	17.2	24.2	28.3	4.6	3.5	4.9	3.5	−0.5	−12.1	−24.7	−31	−47.5	−23.2	−27.6	−104	8.1	19.7	25.2	1.1	16.7	2.7	1	−73
Net profit	63.7	30.7	45.5	70.8	73.6	66	47.3	72	73.1	58.2	90.5	51.5	70.9	−10.2	26.5	0.2	−6.1	−50.3	−24.6	−85.2	−93.8	−20.2	−66.2	−109	−13.9	10	4.3	20.7	13.1	12.3	−6.2	69.7	5,915
Net margin	3.0%	1.7%	2.1%	3.4%	3.1%	3.4%	2.3%	3.6%	3.5%	3.5%	4.8%	2.8%	3.7%	-0.8%	1.7%	0.0%	-0.6%	-9.6%	-3.3%	-25.8%	-32.6%	-5.7%	-28.0%	-127.7%	-1.3%	0.6%	0.3%	0.9%	1.0%	0.8%	-0.4%	3.3%	229.9%
EPS (₹)	1.54	0.83	0.90	1.42	1.55	1.39	1.06	1.39	1.62	1.22	1.77	1.01	1.57	-0.15	0.40	0.02	-0.18	-1.40	-0.94	-2.31	-2.56	-0.18	-1.60	-2.54	1.13	0.17	0.10	0.62	0.35	0.25	-0.23	1.91	158.31
Net profit YoY	−13.4%	−53.5%	−3.8%	−1.7%	+0.6%	+13.5%	−47.8%	+39.7%	+3.1%	+668.6%	+241.1%	+33617.4%	+1264.7%	+79.7%	+207.9%	+100.2%	+93.5%	−148.6%	+62.9%	–	+13.6%	−45.5%	−763.8%	−623.8%	−206.2%	−18.9%	+168.2%	−70.2%	−99.8%	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Revenue from operations	8,398	8,140	7,299	5,048	1,888	795	6,833	6,603	11,248
Other income	160	145	136	63.5	57.8	151	116	115	163
Total expenses	8,225	7,899	7,091	5,083	2,266	1,358	6,978	6,661	11,163
EBITDA	428	477	435	178	−188	−353	106	82.1	371
EBITDA margin	5.1%	5.9%	6.0%	3.5%	-9.9%	-44.4%	1.6%	1.2%	3.3%
Finance costs	94.8	94.6	99.2	89.1	61.6	62.2	101	73	149
Depreciation	160	142	128	124	129	148	151	67.2	137
Profit before tax	327	378	345	26.2	−323	−416	−68.8	57.3	6,074
Tax	110	124	73.8	16.5	−68.3	−121	−51	21.5	−40.6
Net profit	220	258	271	10.4	−254	−295	−17.7	88.8	6,131
Net margin	2.6%	3.2%	3.7%	0.2%	-13.4%	-37.1%	-0.3%	1.3%	54.5%
EPS (₹)	4.70	5.46	5.57	0.10	-6.92	-6.75	1.03	2.29	162.50
Net profit YoY	−14.7%	−4.7%	+2514.6%	+104.1%	+14.0%	−1572.3%	−119.9%	−98.6%	–

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	643	717	829	597	−155
Investing cash flow	−408	−329	−439	124	4.6
Financing cash flow	−189	−183	−291	1,813	136
Capital expenditure	126	117	104	−67.6	−61.9
Free cash flow (CFO − capex)	517	600	725	529	−217

Net profit trend

annual, ₹ crore

FY21

₹−295

FY22

₹−254+14%

FY23

₹10.4+104%

FY24

₹271+2515%

FY25

₹258−5%

FY26

₹220−15%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	3 Aug 2026	PDF XBRL
Q1 FY27	Standalone	3 Aug 2026	PDF XBRL
Q4 FY26	Consolidated · audited	12 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	12 May 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	5 Feb 2026	PDF on NSE XBRL
Q3 FY26	Standalone	5 Feb 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	12 Nov 2025	PDF XBRL
Q2 FY26	Standalone	12 Nov 2025	PDF XBRL
Q1 FY26	Consolidated	30 Jul 2025	PDF on NSE XBRL
Q1 FY26	Standalone	30 Jul 2025	PDF on NSE XBRL

Annual reports

NSE archive

FY2619.48 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 81.8×23.1×

P/B5Y avg 2.81×1.91×

ROEFY26, on average equity9.2%

Net margin2.6%

Debt / equity0.11×

Revenue CAGR (3Y)18.5%

Profit CAGR (3Y)177.0%

EPS (TTM)₹4.48

Market cap₹4,867 Cr

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

P/B vs history

1.91×

vs 8-point avg 2.81× (−32%)

1.54× low2.81× avg4.45× high

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

Balance sheet 31 Mar 2026

Total assets₹7,899 Cr+11%

Net worth₹2,546 Cr+13%

Total borrowings₹277 Cr+15%

Cash & bank balances₹960 Cr+13%

Investments₹276 Cr+123%

Inventories₹50 Cr+38%

Trade receivables₹663 Cr+5%

Trade payables₹2,814 Cr+12%

Change vs the same date a year earlier.

Revenue mix FY26

(b) Travel and related services79.8%result ₹222 Cr

(d) Digiphoto imaging services10.0%result ₹11 Cr

(a) Financial services3.9%result ₹149 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	64.77	63.83	63.83	63.83	63.83	63.83	63.83	63.83	63.83	63.83	63.83	72.34
FII	6.18	7.56	7.28	5.32	4.41	4.52	4.37	3.57	3.16	2.29	1.83	0.57
DII	6.53	6.55	6.83	7.33	7.79	8.10	9.48	9.84	9.10	8.65	9.35	8.23
of which MF	6.02	6.25	6.26	6.17	6.60	–	–	–	–	–	–	–
Retail	17.34	16.40	16.54	17.63	17.90	17.49	16.65	16.86	17.81	19.14	18.47	14.64
Other public	4.24	4.72	4.55	4.92	5.09	5.06	4.67	4.87	5.03	5.01	5.41	3.01

1,11,875 shareholders · NSE shareholding pattern filings.