Your investments deserve an analyst, not a dashboard.

Quarterly results

consolidated · as filed with NSE · Q1 FY27 back to Q2 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	Q4 FY19	Q3 FY19	Q4 FY18	Q2 FY18
Revenue from operations	2,252	2,090	1,453	916	864	881	805	823	665	771	798	750	640	717	675	596	481	521	502	445	324	442	431	360	185	347	399	414	402	425	709	404
Other income	4.5	7	12.7	2.2	4.3	8.4	3.9	3.4	1.7	4.1	8.4	0.5	1.2	5.1	1.2	0.6	0.7	7.8	1.1	1.3	0.2	7.3	0.8	3	0.3	25.1	2.4	1.1	1.4	1.3	29.2	1.2
Total expenses	2,195	2,050	1,402	865	780	812	755	768	627	735	762	719	615	690	652	583	480	519	493	439	324	458	436	366	209	446	439	451	436	477	801	442
EBITDA	169	155	110	60.2	94.5	78.4	60.3	66	50.2	48.2	51.4	47.4	38.4	43.5	40.6	31.4	21.7	25.8	32.4	30.5	23.4	10.2	22.2	19.2	2.5	−104	17.8	17.7	21.7	14.8	−44.9	11.3
EBITDA margin	7.5%	7.4%	7.6%	6.6%	10.9%	8.9%	7.5%	8.0%	7.6%	6.3%	6.4%	6.3%	6.0%	6.1%	6.0%	5.3%	4.5%	5.0%	6.5%	6.9%	7.2%	2.3%	5.1%	5.3%	1.3%	-29.9%	4.5%	4.3%	5.4%	3.5%	-6.3%	2.8%
Finance costs	66.4	68.9	39.2	2.1	2.8	2.3	2.4	3.3	4.2	4.9	8.1	7.7	6	8	9	9.9	13.3	15.5	15.5	15.8	15	18.7	18.5	16.5	17.2	−13.1	49.3	46.5	47.7	57.2	38.6	39.8
Depreciation	45.5	45.5	19.6	7.3	7.3	7.3	7.8	7.8	7.7	7.8	8	8.2	7.8	7.9	8.2	8.2	8	8.1	8.2	8.2	8.2	8.1	8.3	8.4	8.3	8.2	8.3	8.2	8.8	9.4	9.1	9.4
Profit before tax	31.5	−15.4	−106	52.9	88.6	77.3	54.1	58.2	40.1	31.5	43.8	37	25.7	59.1	75.9	13.9	1	23.2	9.8	7.8	0.4	−9.2	−3.9	−2.7	−22.8	382	−37.3	−36	−33.3	−50.5	−63.5	−36.6
Tax	0	0	0	0	0	−0	0	0	0	0	0	0	0	−0	0	0	0	0	−0.5	−3.5	0	−0.2	0	0	0	1.1	0.1	0.3	−4.1	−1.5	−1.7	5.5
Net profit	31.6	−14.9	−105	52.7	88.5	77.3	53.9	58.2	40.1	31.5	43.8	37	25.7	59.1	75.9	13.9	1	23.2	10.3	11.3	0.4	−9	−3.9	−2.7	−22.8	380	−37.5	−36.4	−29.2	−49	−61.7	−42.1
Net margin	1.4%	-0.7%	-7.3%	5.8%	10.2%	8.8%	6.7%	7.1%	6.0%	4.1%	5.5%	4.9%	4.0%	8.2%	11.2%	2.3%	0.2%	4.5%	2.0%	2.5%	0.1%	-2.0%	-0.9%	-0.7%	-12.3%	109.7%	-9.4%	-8.8%	-7.3%	-11.5%	-8.7%	-10.4%
EPS (₹)	1.28	-0.60	-4.67	2.71	4.57	4.01	2.79	3.02	2.08	1.65	2.28	1.93	1.37	3.19	4.38	0.84	0.07	1.49	0.72	0.81	0.30	-0.72	-0.31	-0.22	-1.82	30.41	-2.99	-2.91	-2.33	-3.91	-4.95	-3.37
Net profit YoY	−64.3%	−119.3%	−295.5%	−9.5%	+120.8%	+145.9%	+23.2%	+57.2%	+55.7%	−46.8%	−42.3%	+166.8%	+2385.5%	+154.2%	+639.2%	+22.8%	+179.4%	+357.6%	+364.2%	+519.4%	+101.6%	−102.4%	+89.6%	+92.6%	–	+1401.7%	+23.5%	–	+52.7%	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Revenue from operations	5,248	3,175	2,958	2,469	1,792	1,418	1,483	1,525	1,295
Other income	26.1	17.6	14.1	7.5	10.5	11.4	29.9	5.2	33.3
Total expenses	5,021	2,962	2,831	2,405	1,775	1,468	1,697	1,690	1,481
EBITDA	419	255	185	137	112	54.1	−51.9	56.1	3.1
EBITDA margin	8.0%	8.0%	6.3%	5.6%	6.3%	3.8%	-3.5%	3.7%	0.2%
Finance costs	113	12.2	26.7	40.2	61.9	71	129	184	152
Depreciation	79.7	30.5	31.9	32.3	32.7	33.1	33	36.7	37.3
Profit before tax	20.6	230	138	150	41.2	−38.6	271	−160	−153
Tax	0	−0	0	−0	−4	−0.2	1.5	−0.1	−1.7
Net profit	20.9	230	138	150	45.2	−38.4	270	−160	−151
Net margin	0.4%	7.2%	4.7%	6.1%	2.5%	-2.7%	18.2%	-10.5%	-11.7%
EPS (₹)	0.97	11.89	7.23	8.79	3.15	-3.07	21.56	-12.76	-12.11
Net profit YoY	−90.9%	+66.4%	−7.9%	+231.7%	+217.7%	−114.2%	+269.1%	−5.5%	–

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	−445	178	121	71.3	65.1
Investing cash flow	−3,570	−76.9	−16.5	−11.8	−25.9
Financing cash flow	4,217	−94.4	−129	−67.4	−41.3
Capital expenditure	3,533	6.9	8.2	10.9	3.3
Free cash flow (CFO − capex)	−3,978	172	113	60.4	61.8

Net profit trend

annual, ₹ crore

FY21

₹−38.4

FY22

₹45.2+218%

FY23

₹150+232%

FY24

₹138−8%

FY25

₹230+66%

FY26

₹20.9−91%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	27 Jul 2026	PDF on NSE XBRL
Q1 FY27	Consolidated	–	PDF on NSE XBRL
Q1 FY27	Standalone	–	PDF on NSE XBRL
Q1 FY27	Standalone	27 Jul 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	29 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	29 May 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	13 Feb 2026	PDF on NSE XBRL
Q3 FY26	Standalone	13 Feb 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	13 Nov 2025	PDF on NSE XBRL
Q2 FY26	Standalone	13 Nov 2025	PDF on NSE XBRL

Annual reports

NSE archive

FY2626.23 MB FY2514.04 MB FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 143.7×-398.9×

P/B5Y avg 7.26×4.82×

ROEFY26, on average equity1.1%

Net margin0.4%

Debt / equity0.77×

Revenue CAGR (3Y)28.6%

Profit CAGR (3Y)-48.2%

EPS (TTM)₹-1.46

Market cap₹14,378 Cr

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

P/B vs history

4.82×

vs 8-point avg 7.26× (−34%)

3.45× low7.26× avg9.96× high

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

Balance sheet 31 Mar 2026

Total assets₹6,160 Cr+408%

Net worth₹2,982 Cr+238%

Total borrowings₹2,295 Cr+5309%

Cash & bank balances₹218 Cr+1286%

Investments₹32 Cr+8%

Inventories₹402 Cr+143%

Trade receivables₹1,272 Cr+210%

Trade payables₹337 Cr+128%

Change vs the same date a year earlier.

Shareholding 30 Jun 2026

%	Jun 26	Mar 26	Dec 25	Nov 25	Sept 25	Sept 25	Jun 25	Mar 25	Dec 24	Sept 24	Jun 24	Mar 24
Promoter	31.68	31.71	31.71	31.50	37.20	37.20	39.97	40.00	40.00	40.14	40.17	40.19
FII	16.88	16.87	18.41	18.43	19.44	19.44	15.29	15.33	13.96	12.40	11.69	11.38
DII	6.27	5.92	4.90	4.96	3.81	3.81	1.38	1.25	1.35	1.19	0.35	0.10
of which MF	2.44	2.28	3.17	4.23	2.41	2.41	0.99	–	–	–	–	–
Retail	23.64	23.62	22.82	22.72	23.04	23.04	24.82	24.53	25.42	26.53	26.90	27.90
Other public	21.53	21.88	22.16	22.39	16.51	16.51	18.54	18.89	19.27	19.74	20.89	20.43

1,29,086 shareholders · NSE shareholding pattern filings.