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Quarterly results

standalone · 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	65.8	77.8	66.3	111	53.9	47.6	45.4	40.7	27.3	25.7	21.6	22	18.4	23.9	10.9	15.1	12.9	9.7	7.9	9.5	5.3	13.2	7.2	1	0.1	7.6	4.3	4.4	5.4	6.5	4.8	5.2	5.1	7.8
Other income	0	0	0.2	0	0	0	0.2	0.5	0	0.2	1.7	1	0.7	0	0	0	0	0	0	0.1	0	0.1	0	0	0	0	0	0	0	0	0	0	0	0
Total expenses	58.9	68.6	59.8	98.3	48.7	42	41.1	37.6	25.2	21.9	20.9	20.5	18	21.3	12.2	14.2	12.1	9.7	7.8	9.5	4.7	12.5	7.1	1.6	0.4	7.7	4.9	4.8	6.2	7.2	5	5.3	5.3	7.7
EBITDA	8.6	11	7.8	14.6	6.1	6.6	5.5	4.3	2.9	4.3	1.6	2.3	1.2	3.4	−0.8	1.2	0.9	0.2	0.2	0.1	0.7	0.9	0.3	−0.3	−0.1	0.2	−0.4	−0.1	−0.5	−0.5	−0	−0	0	0.2
EBITDA margin	13.0%	14.2%	11.8%	13.1%	11.3%	13.9%	12.2%	10.6%	10.7%	16.7%	7.3%	10.5%	6.5%	14.1%	-7.4%	7.6%	7.2%	2.2%	2.8%	1.1%	14.0%	7.0%	4.1%	-36.1%	-120.8%	2.7%	-8.6%	-2.6%	-10.1%	-7.5%	-0.9%	-0.5%	0.3%	2.5%
Finance costs	1	1.1	0.7	0.9	0.3	0.7	0.6	0.5	0.2	0.1	0.6	0.6	0.5	0.6	0.3	0.1	0.1	0.1	0.1	0.1	0.2	0.1	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.1	0.2	0.1	0.1	0.1
Depreciation	0.7	0.7	0.7	1.2	0.6	0.2	0.7	0.8	0.5	0.4	0.3	0.2	0.2	0.2	0.2	0.2	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0	0	0	0	0
Profit before tax	6.9	8.2	6.4	12.5	5.2	5.7	4.5	3.6	2.1	4	2.4	2.4	1.2	2.6	−1.3	0.9	0.7	0.1	0.1	0	0.5	0.8	0.1	−0.6	−0.4	−0.1	−0.6	−0.4	−0.8	−0.7	−0.2	−0.2	−0.1	0.1
Tax	1.4	2.2	1.4	4.3	1.7	1.5	1.5	0.7	0.7	−0	0	−0	0	−0.1	0	0.1	0	0.1	−0	−0.1	0.1	0.1	−0	0	−0	0	−0	0	0	0	−0	0	0	0.1
Net profit	5.4	6	5	8.2	3.5	4.2	3	2.8	1.4	4	2.4	2.5	1.2	2.7	−1.3	0.8	0.7	−0	0.1	0.1	0.4	0.8	0.1	−0.7	−0.3	−0.1	−0.6	−0.4	−0.8	−0.7	−0.2	−0.2	−0.2	−0.1
Net margin	8.3%	7.7%	7.5%	7.4%	6.4%	8.7%	6.6%	7.0%	5.1%	15.5%	11.1%	11.3%	6.3%	11.2%	-11.9%	5.2%	5.5%	-0.2%	1.7%	0.8%	8.5%	5.8%	1.6%	-68.9%	-491.0%	-1.4%	-14.0%	-8.6%	-15.5%	-10.3%	-4.2%	-3.4%	-3.2%	-0.9%
EPS (₹)	3.71	4.22	3.39	5.74	2.50	7.96	7.96	5.45	5.40	5.04	2.83	3.15	1.46	7.91	-2.35	1.43	2.09	0.00	0.39	0.21	1.32	2.26	0.35	-1.96	-0.98	-0.32	-1.79	-1.13	-2.46	-1.98	-0.60	-0.52	-0.49	-0.20
Net profit YoY	+56.9%	+44.5%	+65.4%	+188.6%	+149.7%	+4.1%	+25.3%	+14.5%	+20.7%	+49.1%	+284.8%	+214.8%	+62.5%	+13444.3%	−1093.3%	+1006.2%	+58.3%	−102.6%	+10.6%	+110.7%	+234.1%	+797.3%	+119.5%	−73.1%	+60.1%	+83.7%	−199.1%	−117.1%	−405.5%	−896.9%	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY23	FY22	FY21	FY20	FY19	FY18
Revenue from operations	255	161	91.1	62.8	28	32.3	21.5	21.8	21.6	20.5
Other income	0.3	0.7	0.2	0	0	0.1	0.1	0	0	0
Total expenses	227	146	81.3	59.8	26.4	31.8	21.6	23.7	22.8	21.1
EBITDA	33.4	19.4	12.7	4.7	2.1	1.3	0.8	−0.8	−0.5	−0.2
EBITDA margin	13.1%	12.0%	14.0%	7.4%	7.4%	3.9%	3.7%	-3.8%	-2.5%	-1.0%
Finance costs	2.7	2	1.8	1	0.2	0.4	0.7	0.8	0.6	0.4
Depreciation	2.6	2.2	1.2	0.7	0.3	0.3	0.3	0.3	0	0
Profit before tax	27.1	15.9	10	3	1.6	0.7	−0.1	−1.9	−1.2	−0.6
Tax	7.8	3.1	−0	0.1	0.1	0.1	0	0	0.1	0.1
Net profit	19.3	12.8	10	2.9	1.5	0.6	−0.1	−1.9	−1.2	−0.7
Net margin	7.6%	7.9%	11.0%	4.6%	5.3%	1.9%	-0.5%	-8.9%	-5.6%	-3.6%
EPS (₹)	13.35	11.61	12.58	5.22	2.71	0.00	-0.34	-5.71	-3.59	-2.19
Net profit YoY	+50.8%	+27.7%	+248.1%	+358.0%	–	+648.5%	+94.1%	−59.0%	−63.6%	–

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	FY23	FY22
Operating cash flow	−26.8	−39.3	−8.4	−18.4	−6.6	3.1
Investing cash flow	−7.6	−6	1.9	−3.2	−1.2	−1.1
Financing cash flow	34.3	45.1	6.5	25.2	4.8	1
Capital expenditure	0	6	4.5	3.4	1.4	1.2
Free cash flow (CFO − capex)	−26.8	−45.3	−12.9	−21.8	−8	1.9

Net profit trend

annual, ₹ crore

FY22

₹0.6

FY23

₹1.5+138%

FY23

₹2.9+93%

FY24

₹10+248%

FY25

₹12.8+28%

FY26

₹19.3+51%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Standalone	14 Aug 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	30 May 2026	PDF on NSE XBRL
Q3 FY26	Standalone	14 Feb 2026	PDF on NSE XBRL
Q2 FY26	Standalone	–	PDF XBRL
Q2 FY26	Standalone	–	PDF XBRL
Q2 FY26	Standalone	14 Nov 2025	PDF on NSE XBRL
Q1 FY26	Standalone	14 Aug 2025	PDF on NSE XBRL
Q4 FY25	Standalone · audited	–	PDF on NSE XBRL
Q4 FY25	Standalone · audited	28 May 2025	PDF on NSE XBRL
Q3 FY25	Standalone	12 Feb 2025	PDF on NSE XBRL

Annual reports

NSE archive

FY261.61 MB FY256.52 MB FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 30.3×14.8×

P/B5Y avg 5.16×2.66×

ROEFY26, on average equity15.9%

Net margin7.6%

Debt / equity0.34×

Revenue CAGR (3Y)59.5%

Profit CAGR (3Y)88.6%

EPS (TTM)₹16.77

Market cap₹365 Cr

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

P/B vs history

2.66×

vs 8-point avg 5.16× (−48%)

2.52× low5.16× avg8.39× high

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

Balance sheet 31 Mar 2026

Total assets₹238 Cr+69%

Net worth₹137 Cr+30%

Total borrowings₹46 Cr+245%

Cash & bank balances₹0 Cr−37%

Investments₹0 Cr

Inventories₹86 Cr+43%

Trade receivables₹86 Cr+49%

Trade payables₹45 Cr+164%

Change vs the same date a year earlier.

Shareholding 1 Sept 2026

%	Sept 26	Jun 26	Mar 26	Dec 25	Sept 25	Jun 25	May 25	Mar 25	Mar 25	Mar 25	Dec 24	Sept 24
Promoter	51.68	52.32	52.32	52.15	52.15	52.15	52.21	55.55	55.55	53.73	57.85	57.86
FII	0.12	0.04	0.05	0.00	0.02	–	0.72	0.84	0.84	0.88	0.57	0.30
DII	1.59	2.45	2.45	2.45	2.46	1.97	2.01	2.33	2.33	2.63	2.02	0.99
Retail	36.03	34.48	33.16	31.95	31.57	32.37	31.06	30.31	30.31	28.52	28.04	30.34
Other public	10.58	10.71	12.02	13.45	13.80	13.51	14.00	10.97	10.97	14.24	11.52	10.51

10,946 shareholders · NSE shareholding pattern filings.