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 | 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 | 4,921 | 4,197 | 3,303 | 3,302 | 3,178 | 2,959 | 2,809 | 2,889 | 2,859 | 2,745 | 2,732 | 2,660 | 2,591 | 2,491 | 2,491 | 2,291 | 2,131 | 2,108 | 2,137 | 2,134 | 1,937 | 1,995 | 2,017 | 2,056 | 1,946 | 1,966 | 2,005 | 2,022 | 1,856 | 2,051 | 1,894 | 1,872 | 1,722 |
| Other income | −12 | −17 | −13 | −27 | −37 | −18 | 33 | −16 | 24 | 31 | −33 | 26 | 34 | 9 | −10 | 16 | 56 | 48 | 51 | 40 | 39 | 8 | 6 | 4 | 15 | 53 | 34 | 20 | 17 | 3 | 10 | 27 | 42 |
| Total expenses | 4,155 | 3,585 | 2,466 | 2,471 | 2,403 | 2,252 | 2,151 | 2,212 | 2,227 | 2,145 | 2,156 | 2,127 | 2,094 | 2,067 | 2,062 | 1,844 | 1,789 | 1,799 | 1,716 | 1,690 | 1,593 | 1,646 | 1,639 | 1,658 | 1,668 | 1,700 | 1,743 | 1,763 | 1,666 | 1,779 | 1,699 | 1,667 | 1,630 |
| EBITDA | 1,664 | 1,356 | 1,088 | 1,083 | 1,032 | 964 | 914 | 939 | 904 | 883 | 869 | 825 | 791 | 727 | 724 | 679 | 561 | 538 | 660 | 677 | 582 | 607 | 635 | 661 | 548 | 540 | 541 | 541 | 473 | 561 | 473 | 477 | 364 |
| EBITDA margin | 33.8% | 32.3% | 32.9% | 32.8% | 32.5% | 32.6% | 32.5% | 32.5% | 31.6% | 32.2% | 31.8% | 31.0% | 30.5% | 29.2% | 29.1% | 29.6% | 26.3% | 25.5% | 30.9% | 31.7% | 30.0% | 30.4% | 31.5% | 32.1% | 28.2% | 27.5% | 27.0% | 26.8% | 25.5% | 27.4% | 25.0% | 25.5% | 21.1% |
| Finance costs | 305 | 236 | 45 | 48 | 56 | 56 | 57 | 64 | 75 | 80 | 80 | 91 | 103 | 107 | 102 | 69 | 57 | 62 | 71 | 68 | 73 | 91 | 92 | 102 | 102 | 111 | 116 | 122 | 123 | 133 | 126 | 122 | 121 |
| Depreciation | 593 | 508 | 206 | 204 | 201 | 201 | 199 | 198 | 197 | 203 | 213 | 201 | 191 | 196 | 193 | 163 | 162 | 167 | 168 | 165 | 165 | 167 | 165 | 161 | 168 | 163 | 163 | 160 | 160 | 156 | 152 | 150 | 151 |
| Profit before tax | 733 | 529 | 814 | 791 | 738 | 665 | 691 | 661 | 656 | 631 | 631 | 559 | 531 | 433 | 419 | 463 | −87 | 357 | 472 | 484 | 383 | 357 | 384 | 402 | 293 | 319 | 296 | 279 | −150 | 275 | 205 | 232 | 134 |
| Tax | 167 | 165 | 179 | 200 | 190 | 167 | 188 | 208 | 199 | 182 | 188 | 173 | 153 | 146 | 136 | 151 | 31 | 108 | 156 | 154 | 59 | 60 | 74 | 81 | −21 | 68 | 52 | 63 | 2 | 29 | 26 | 69 | −94 |
| Net profit | 566 | 364 | 635 | 591 | 548 | 498 | 503 | 453 | 457 | 449 | 443 | 386 | 378 | 287 | 283 | 312 | −118 | 249 | 316 | 330 | 324 | 297 | 310 | 321 | 314 | 251 | 244 | 216 | −152 | 246 | 179 | 163 | 228 |
| Net margin | 11.5% | 8.7% | 19.2% | 17.9% | 17.2% | 16.8% | 17.9% | 15.7% | 16.0% | 16.4% | 16.2% | 14.5% | 14.6% | 11.5% | 11.4% | 13.6% | -5.5% | 11.8% | 14.8% | 15.5% | 16.7% | 14.9% | 15.4% | 15.6% | 16.1% | 12.8% | 12.2% | 10.7% | -8.2% | 12.0% | 9.5% | 8.7% | 13.2% |
| EPS (₹) | 14.87 | 11.51 | 18.77 | 17.45 | 16.19 | 14.71 | 14.88 | 13.37 | 13.51 | 13.27 | 13.10 | 11.39 | 11.18 | 8.48 | 8.36 | 9.22 | -6.98 | 14.75 | 18.63 | 19.53 | 19.16 | 17.52 | 18.32 | 18.98 | 18.56 | 14.77 | 14.48 | 12.74 | -8.95 | 14.50 | 10.57 | 9.66 | 13.55 |
| Net profit YoY | +3.3% | −26.9% | +26.2% | +30.5% | +19.9% | +10.9% | +13.5% | +17.4% | +20.9% | +56.4% | +56.5% | +23.7% | – | +343.2% | +13.7% | −1.3% | −136.4% | −16.2% | +1.9% | +2.8% | +3.2% | +18.3% | +27.0% | +48.6% | +306.6% | +2.0% | +36.3% | +32.5% | −166.7% | – | – | – | – |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 13,980 | 11,516 | 10,728 | 9,620 | 8,508 | 8,005 | 7,939 | 7,673 | 6,002 |
| Other income | −94 | 23 | 58 | 45 | 197 | 57 | 122 | 57 | 299 |
| Total expenses | 10,925 | 8,842 | 8,522 | 7,818 | 6,994 | 6,536 | 6,874 | 6,811 | 5,370 |
| EBITDA | 4,559 | 3,721 | 3,368 | 2,842 | 2,431 | 2,485 | 2,170 | 1,984 | 1,349 |
| EBITDA margin | 32.6% | 32.3% | 31.4% | 29.5% | 28.6% | 31.0% | 27.3% | 25.9% | 22.5% |
| Finance costs | 385 | 252 | 354 | 333 | 255 | 358 | 451 | 504 | 308 |
| Depreciation | 1,119 | 795 | 808 | 707 | 662 | 658 | 654 | 618 | 409 |
| Profit before tax | 2,872 | 2,673 | 2,352 | 1,847 | 1,226 | 1,526 | 1,187 | 562 | 931 |
| Tax | 734 | 762 | 696 | 602 | 449 | 274 | 162 | 126 | 253 |
| Net profit | 2,138 | 1,911 | 1,656 | 1,245 | 777 | 1,252 | 1,025 | 436 | 678 |
| Net margin | 15.3% | 16.6% | 15.4% | 12.9% | 9.1% | 15.6% | 12.9% | 5.7% | 11.3% |
| EPS (₹) | 63.92 | 56.47 | 48.94 | 36.79 | 45.93 | 73.98 | 60.55 | 25.78 | 40.07 |
| Net profit YoY | +11.9% | +15.4% | +33.0% | +60.2% | −37.9% | +22.1% | +135.1% | −35.7% | – |
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 | 3,023 | 2,585 | 3,266 | 2,368 | 1,803 |
| Investing cash flow | −12,713 | −540 | −168 | −2,356 | −198 |
| Financing cash flow | 10,151 | −2,298 | −2,779 | 77 | −1,781 |
| Capital expenditure | 677 | 611 | 433 | 574 | 203 |
| Free cash flow (CFO − capex) | 2,346 | 1,974 | 2,833 | 1,794 | 1,600 |
Net profit trend
annual, ₹ croreFY21
₹1,252
FY22
₹777−38%
FY23
₹1,245+60%
FY24
₹1,656+33%
FY25
₹1,911+15%
FY26
₹2,138+12%
Result filings
as filed with NSE · PDF and XBRL| Period | Basis | Filed | Documents |
|---|---|---|---|
| Q1 FY27 | Consolidated | 30 Jul 2026 | PDF on NSE XBRL |
| Q1 FY27 | Standalone | 30 Jul 2026 | PDF on NSE XBRL |
| Q4 FY26 | Consolidated · audited | 22 May 2026 | PDF on NSE XBRL |
| Q4 FY26 | Standalone · audited | 23 May 2026 | PDF on NSE XBRL |
| Q3 FY26 | Consolidated | 13 Feb 2026 | PDF on NSE XBRL |
| Q3 FY26 | Standalone · audited | 13 Feb 2026 | PDF on NSE XBRL |
| Q2 FY26 | Consolidated | 7 Nov 2025 | PDF XBRL |
| Q2 FY26 | Standalone · audited | 7 Nov 2025 | PDF XBRL |
| Q1 FY26 | Consolidated | 28 Jul 2025 | PDF XBRL |
| Q1 FY26 | Standalone · audited | 28 Jul 2025 | PDF XBRL |
Annual reports
NSE archiveKey ratios
P/E (TTM)5Y avg 54.7×78.3×
P/B5Y avg 12.60×20.13×
ROEFY26, on average equity26.8%
Net margin15.3%
Debt / equity1.76×
Revenue CAGR (3Y)13.3%
Profit CAGR (3Y)19.8%
EPS (TTM)₹63.70
Market cap₹1.69L Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
20.13×
vs 8-point avg 12.60× (+60%)
8.39× low12.60× avg20.13× high
History points are balance-sheet dates (2022 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹44,312 Cr+196%
Net worth₹8,389 Cr+11%
Total borrowings₹14,798 Cr+389%
Cash & bank balances₹1,117 Cr+95%
Investments₹949 Cr+508%
Inventories₹3,138 Cr+23%
Trade receivables₹3,031 Cr+62%
Trade payables₹2,358 Cr+30%
Change vs the same date a year earlier.