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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	Q3 FY19	Q2 FY19	Q4 FY18
Revenue from operations	1,693	1,677	1,565	1,511	1,353	1,469	1,388	1,371	1,230	1,394	1,325	1,194	1,079	1,192	1,129	1,024	944	1,039	942	915	754	951	835	744	475	916	923	871	868	873	827	943
Other income	1.1	4.9	2.3	1.1	0.9	2.1	1.6	0.9	0.7	11	1.9	0.3	1	0.6	2.1	0.4	0.6	1.4	0.7	0.4	0.4	2.2	0.6	0.7	0.3	1	0.5	0.5	0.3	0.2	0.2	1.1
Total expenses	1,536	1,500	1,396	1,356	1,224	1,321	1,253	1,239	1,121	1,272	1,201	1,099	1,004	1,101	1,046	956	885	963	868	846	716	884	784	714	484	861	856	817	809	800	784	860
EBITDA	224	241	234	223	195	214	201	196	174	186	191	167	147	169	151	133	124	139	136	131	101	129	112	91.9	53.9	118	134	121	126	126	108	146
EBITDA margin	13.3%	14.4%	14.9%	14.7%	14.4%	14.5%	14.5%	14.3%	14.2%	13.4%	14.4%	14.0%	13.6%	14.2%	13.4%	13.0%	13.1%	13.3%	14.4%	14.3%	13.3%	13.6%	13.4%	12.4%	11.4%	12.9%	14.5%	13.9%	14.6%	14.4%	13.0%	15.5%
Finance costs	16.9	17.6	18.8	21.5	21.8	22	22.5	22.8	24.2	24.6	24.9	25.5	26.5	32.6	25.5	24	23.1	22.7	22.9	23	23.4	23.7	24	24.7	25.3	26	26.8	28	27.5	24.6	23.9	24.7
Depreciation	51	47	46	45.7	44.6	44	43	41.8	40.9	39.6	41.7	45.8	45.5	45.4	43.2	41.7	40.7	40.4	39.4	39.1	38.5	38.3	37.8	37.4	37.5	37	40	39.8	39.4	28.7	39.7	38.6
Profit before tax	158	181	171	157	129	150	137	133	110	133	126	95.9	76.3	91.9	84.3	68.2	60.4	77.1	74.2	69.1	39	69.3	51.1	30.4	−8.6	56.1	67.3	53.6	59.8	72.7	44.1	83.7
Tax	39.7	47	42.5	39.4	32.8	37.9	34.4	32.8	29.5	38.7	32.7	24.4	19.2	26.7	21.7	17.5	15.2	20.3	19.4	17.8	9.8	17.5	11.3	4.6	3	15.8	17.2	13.6	15.1	17	11.2	26.7
Net profit	118	134	129	117	96.6	112	102	99.8	80.5	94.3	93.1	71.5	57.1	65.2	62.6	50.7	45.2	56.8	54.9	51.3	29.2	51.8	39.8	25.8	−11.6	40.3	50.1	40	44.7	55.7	32.9	55.4
Net margin	7.0%	8.0%	8.2%	7.8%	7.1%	7.6%	7.4%	7.3%	6.5%	6.8%	7.0%	6.0%	5.3%	5.5%	5.5%	4.9%	4.8%	5.5%	5.8%	5.6%	3.9%	5.4%	4.8%	3.5%	-2.4%	4.4%	5.4%	4.6%	5.1%	6.4%	4.0%	5.9%
EPS (₹)	2.35	2.67	2.75	2.54	4.19	4.83	4.44	4.33	3.49	4.08	4.05	3.11	2.48	2.81	2.71	2.20	1.96	2.45	2.38	2.22	1.26	2.31	1.70	1.08	-0.52	1.69	2.14	1.70	1.94	2.40	1.40	2.45
Net profit YoY	+22.1%	+20.1%	+25.5%	+17.5%	+20.0%	+18.6%	+10.0%	+39.6%	+41.0%	+44.5%	+48.7%	+41.0%	+26.1%	+14.7%	+14.2%	−1.2%	+54.7%	+9.7%	+37.7%	+98.7%	+352.2%	+28.5%	−20.5%	−35.4%	−126.0%	–	−10.1%	+21.4%	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY18
Revenue from operations	6,105	5,457	4,993	4,289	3,650	3,005	3,578	3,103
Other income	9.2	5.3	14.2	3.8	3	3.8	2.3	2.1
Total expenses	5,476	4,933	4,576	3,988	3,393	2,867	3,344	2,854
EBITDA	892	785	691	577	506	387	499	473
EBITDA margin	14.6%	14.4%	13.8%	13.5%	13.9%	12.9%	13.9%	15.2%
Finance costs	79.8	91.5	101	105	92	97.7	108	87.5
Depreciation	183	170	173	171	157	151	156	137
Profit before tax	638	529	431	305	259	142	237	250
Tax	162	135	115	81	67.2	36.4	61.7	65.2
Net profit	477	394	316	224	192	106	175	180
Net margin	7.8%	7.2%	6.3%	5.2%	5.3%	3.5%	4.9%	5.8%
EPS (₹)	9.99	17.10	13.71	9.69	8.31	4.57	7.48	7.98
Net profit YoY	+20.8%	+24.9%	+41.2%	+16.4%	+81.6%	−39.5%	–	–

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	233	431	406	370	291
Investing cash flow	−446	−147	−187	−216	−179
Financing cash flow	624	−249	−197	−154	−104
Capital expenditure	453	196	181	225	187
Free cash flow (CFO − capex)	−220	235	225	146	104

Net profit trend

annual, ₹ crore

FY21

₹106

FY22

₹192+82%

FY23

₹224+16%

FY24

₹316+41%

FY25

₹394+25%

FY26

₹477+21%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	5 Aug 2026	PDF on NSE XBRL
Q1 FY27	Standalone	5 Aug 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	27 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	27 May 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	12 Feb 2026	PDF on NSE XBRL
Q3 FY26	Standalone	12 Feb 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	14 Nov 2025	PDF on NSE XBRL
Q2 FY26	Standalone	14 Nov 2025	PDF on NSE XBRL
Q1 FY26	Consolidated	11 Aug 2025	PDF on NSE XBRL
Q1 FY26	Standalone	11 Aug 2025	PDF on NSE XBRL

Annual reports

NSE archive

FY267.55 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 17.6×18.0×

P/B5Y avg 2.32×2.19×

ROEFY26, on average equity13.7%

Net margin7.8%

Debt / equity0.16×

Revenue CAGR (3Y)12.5%

Profit CAGR (3Y)28.7%

EPS (TTM)₹10.09

Market cap₹8,945 Cr

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

P/B vs history

2.19×

vs 8-point avg 2.32× (−6%)

0.84× low2.32× avg3.60× high

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

Balance sheet 31 Mar 2026

Total assets₹5,639 Cr+28%

Net worth₹4,088 Cr+41%

Total borrowings₹639 Cr−1%

Cash & bank balances₹537 Cr+325%

Investments₹6 Cr+83%

Inventories₹1,328 Cr+16%

Trade receivables₹1,452 Cr+25%

Trade payables₹446 Cr−1%

Change vs the same date a year earlier.

Revenue mix FY26

Polymer Products62.6%result ₹414 Cr

Composite Products37.4%result ₹294 Cr

Segment revenue as reported, before inter-segment eliminations.

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	47.56	47.56	47.51	47.46	51.62	51.62	51.62	51.62	51.56	51.56	51.56	51.56
FII	8.53	10.88	11.66	11.05	8.42	8.37	8.29	8.07	7.64	6.69	6.79	6.18
DII	17.57	17.37	16.70	16.63	13.19	13.38	12.92	12.99	13.20	12.87	10.97	10.93
of which MF	13.49	13.36	13.37	13.39	12.41	12.60	12.12	–	–	–	–	–
Retail	20.57	19.20	19.28	18.45	20.22	20.10	20.48	20.51	20.59	21.74	23.33	23.31
Other public	5.77	4.99	4.85	6.41	6.55	6.53	6.69	6.81	7.01	7.14	7.35	8.02

1,40,298 shareholders · NSE shareholding pattern filings.