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Quarterly results

consolidated · as filed with NSE · Q1 FY27 back to Q4 FY17

₹ 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 FY17
Revenue from operations	117	109	73.2	78.3	62.9	102	79.1	67.6	67	31.4	12.1	20	3.5	15.9	11.1	1.5	15.4	20.6	17.5	16.7	11.5	69.6	115	83.6	45.1	79.4	81.9	109	107	0
Other income	0.3	0.6	2.5	3.2	7.8	9.4	3.8	4.9	9.7	1.2	0.6	0.4	0.1	−1.4	1.1	2.5	4.5	8.3	0.3	0.6	1.7	0.8	1.7	2	2.8	15.7	0.7	63.4	1.7	0
Total expenses	124	116	85.1	90.7	81	97.9	86.5	74.9	79.7	66.5	34.2	42.3	32.9	39.7	35.3	26.6	43.6	63.9	53.9	52.9	65	120	113	96.2	65.2	133	82.2	171	106	0
EBITDA	7	9.9	1.2	0.1	−6.8	12.1	2.6	2.4	−4.7	−28.2	−18.3	−11.6	−18.1	−13.5	−12.8	−13.3	−16.7	−33.2	−24.2	−24.6	−41.4	−38.3	13.1	−1.3	−8	−41.5	10.8	−50.8	11.4	0
EBITDA margin	6.0%	9.1%	1.7%	0.1%	-10.7%	11.9%	3.3%	3.5%	-7.1%	-89.7%	-151.4%	-58.0%	-522.5%	-85.1%	-115.7%	-871.7%	-108.5%	-161.0%	-138.1%	-147.7%	-360.7%	-55.0%	11.4%	-1.5%	-17.7%	-52.3%	13.2%	-46.8%	10.6%	–
Finance costs	11.7	14.7	11.3	10.7	9.6	6.8	8.2	7.9	6.2	5.2	2.2	9	9.4	8.4	9.1	9.5	9.3	7.7	9.8	9.2	9.6	8.7	8.5	8.3	9.2	9.3	7.8	7.7	7.2	0
Depreciation	2.5	2	1.8	1.8	1.8	1.8	1.8	1.7	1.7	1.7	1.7	1.7	2	2	2.3	2.4	2.3	2.5	2.5	2.5	2.5	2.9	3	3.1	2.9	3.3	3.3	3.6	3.1	0
Profit before tax	−7.3	−11.7	−9.4	−9.2	−10.3	13	−3.5	−2.4	−2.9	99.8	118	−21.9	−0.5	−25.2	−23.1	−22.6	−23.8	−295	−36.1	−35.6	−51.9	−49.1	3.4	−8.4	−17.4	−38.3	0.4	1.4	2.9	0
Tax	−1.9	−1.8	−2.5	−1.5	−4.1	3.2	0.2	−0.2	−1.9	−68.8	13.6	−1.6	−1.5	−0.4	−1.7	−1	−0.6	19.7	−4.9	−3.4	1.7	−12.3	−0.1	9.9	−0.3	−14.7	−0.2	0	−0.2	0
Net profit	−5.5	−10	−6.9	−7.7	−6.2	9.8	−3.7	−2.1	−1.1	169	105	−20.4	1	−24.8	−21.4	−21.6	−23.2	−314	−31.2	−32.2	−53.5	−36.7	3.6	−18.3	−17.1	−23.6	0.6	1.4	3.1	0
Net margin	-4.7%	-9.2%	-9.4%	-9.9%	-9.9%	9.6%	-4.7%	-3.2%	-1.6%	536.4%	868.2%	-102.0%	27.5%	-156.6%	-193.0%	-1418.4%	-151.2%	-1526.0%	-178.3%	-193.4%	-466.2%	-52.8%	3.1%	-21.8%	-37.8%	-29.7%	0.7%	1.2%	2.9%	–
EPS (₹)	-0.69	-1.46	-1.03	-1.16	-0.93	1.47	-0.56	-0.32	-0.26	107.85	104.39	-20.29	0.95	-24.76	-21.36	-21.49	-23.14	-313.26	-31.15	-32.10	-53.36	-36.63	3.57	-18.20	17.01	-23.47	0.59	1.35	3.09	0.00
Net profit YoY	+12.4%	−202.2%	−85.1%	−261.2%	−486.8%	−94.2%	−103.5%	+89.5%	−211.6%	+779.0%	+588.8%	+5.6%	+104.1%	+92.1%	+31.4%	+33.0%	+56.6%	−755.2%	−972.6%	−76.3%	−213.7%	−56.0%	+496.7%	−1452.6%	−650.3%	–	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY17
Revenue from operations	323	315	66.9	43.8	66.2	313	377	349
Other income	14.1	27.8	2.2	6.7	10.9	7.3	81.5	5.5
Total expenses	372	339	176	145	236	394	492	343
EBITDA	4.4	12.4	−76.1	−56.2	−123	−34.4	−70.1	35.2
EBITDA margin	1.4%	3.9%	-113.7%	-128.3%	-186.2%	-11.0%	-18.6%	10.1%
Finance costs	46.3	29.1	25.9	36.2	36.2	34.7	31.9	17.8
Depreciation	7.4	7	7.1	9	10	11.9	13.2	11.6
Profit before tax	−40.6	4.2	196	−94.7	−418	−71.4	−33.6	11.3
Tax	−9.9	1.3	−58.3	−3.7	13	−2.9	−15.1	3.7
Net profit	−30.8	2.9	254	−91	−431	−68.5	−18.5	7.6
Net margin	-9.5%	0.9%	379.5%	-207.7%	-650.9%	-21.9%	-4.9%	2.2%
EPS (₹)	-4.58	0.43	222.27	-90.75	-429.87	-68.27	-18.44	7.56
Net profit YoY	−1175.9%	−98.9%	+378.9%	+78.9%	−529.6%	−270.2%	–	–

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	−88.4	−131	−83.3	5.6	−26.6
Investing cash flow	−17.5	−6.2	29.6	8.5	77.3
Financing cash flow	110	131	58.7	−13.9	−50
Capital expenditure	5.5	5.9	0.6	0	−0
Free cash flow (CFO − capex)	−94	−137	−83.9	5.6	−26.7

Net profit trend

annual, ₹ crore

FY21

₹−68.5

FY22

₹−431−530%

FY23

₹−91+79%

FY24

₹254+379%

FY25

₹2.9−99%

FY26

₹−30.8−1176%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	13 Aug 2026	PDF XBRL
Q1 FY27	Standalone	13 Aug 2026	PDF XBRL
Q4 FY26	Consolidated · audited	28 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	28 May 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	13 Feb 2026	PDF XBRL
Q3 FY26	Standalone	13 Feb 2026	PDF XBRL
Q2 FY26	Consolidated	10 Nov 2025	PDF XBRL
Q2 FY26	Standalone	10 Nov 2025	PDF XBRL
Q1 FY26	Consolidated	12 Aug 2025	PDF XBRL
Q1 FY26	Standalone	12 Aug 2025	PDF XBRL

Annual reports

NSE archive

FY265.67 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 285.5×-58.9×

P/B5Y avg 24.47×15.91×

ROEFY26, on average equity-31.8%

Net margin-9.5%

Debt / equity3.30×

Revenue CAGR (3Y)94.7%

Profit CAGR (3Y)–

EPS (TTM)₹-4.26

Market cap₹1,767 Cr

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

P/B vs history

15.91×

vs 8-point avg 24.47× (−35%)

10.36× low24.47× avg35.77× high

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

Balance sheet 31 Mar 2026

Total assets₹687 Cr+32%

Net worth₹111 Cr+35%

Total borrowings₹366 Cr+36%

Cash & bank balances₹5 Cr+703%

Investments₹5 Cr+698%

Inventories₹184 Cr+46%

Trade receivables₹211 Cr+57%

Trade payables₹108 Cr+40%

Change vs the same date a year earlier.

Revenue mix Q1 FY27

Material Handling Solution67.1%result ₹−10 Cr

Packaging, Erection, Commissioning and O & M of Gas Compressor32.9%result ₹2.3 Cr

Segment revenue as reported, before inter-segment eliminations.

Shareholding 10 Sept 2026

%	Sept 26	Aug 26	Jul 26	Jun 26	Apr 26	Mar 26	Jan 26	Dec 25	Sept 25	Jun 25	Mar 25	Dec 24
Promoter	61.30	61.30	61.30	61.30	61.30	70.12	70.12	68.43	68.43	68.43	68.43	68.43
FII	2.66	2.87	2.65	2.62	2.43	0.03	0.04	0.04	0.04	0.09	0.09	0.01
DII	3.31	3.06	3.82	3.81	2.01	0.73	0.82	0.87	1.11	1.11	0.87	0.87
Retail	23.31	23.06	22.10	21.49	19.16	17.18	17.53	18.51	18.38	18.33	15.38	15.89
Other public	9.42	9.71	10.13	10.78	15.10	11.94	11.49	12.15	12.04	12.04	15.23	14.80

14,689 shareholders · NSE shareholding pattern filings.