Quarterly results
consolidated · as filed with NSE · Q1 FY27 back to Q4 FY21
| ₹ 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 426 | 360 | 377 | 305 | 297 | 293 | 329 | 306 | 306 | 298 | 331 | 302 | 324 | 280 | 328 | 310 | 315 | 251 | 287 | 221 | 102 | 226 |
| Other income | 1.2 | 3.1 | 1.7 | 8.1 | 1.9 | 3.4 | 5.5 | 4.3 | 2.7 | 7.7 | 1.6 | 4.3 | 0.9 | 2.2 | 1.2 | 1.6 | 3 | 5.9 | 4.5 | 8.5 | 7.4 | 10.6 |
| Total expenses | 425 | 377 | 393 | 336 | 316 | 313 | 330 | 320 | 314 | 307 | 325 | 321 | 333 | 295 | 323 | 305 | 297 | 257 | 272 | 225 | 165 | 229 |
| EBITDA | 69.9 | 54.4 | 54.8 | 37.7 | 46 | 53.3 | 61.5 | 45.6 | 50.9 | 54.7 | 66.3 | 44.4 | 46.8 | 39.9 | 62 | 58.3 | 70.5 | 44.5 | 65.7 | 41.3 | −17.8 | 45.5 |
| EBITDA margin | 16.4% | 15.1% | 14.6% | 12.4% | 15.5% | 18.2% | 18.7% | 14.9% | 16.6% | 18.4% | 20.0% | 14.7% | 14.4% | 14.2% | 18.9% | 18.8% | 22.4% | 17.7% | 22.9% | 18.7% | -17.5% | 20.1% |
| Finance costs | 22.9 | 22.6 | 22.7 | 20.7 | 20 | 20.9 | 19.5 | 18.9 | 18.6 | 18.6 | 19 | 19.5 | 18.7 | 18 | 18.3 | 18 | 17.5 | 16.2 | 17.2 | 15.3 | 16.6 | 18.6 |
| Depreciation | 45.7 | 48.6 | 48.2 | 48.3 | 44.9 | 52.3 | 42.8 | 40.9 | 40.5 | 44.7 | 41.4 | 44.3 | 37.5 | 36.6 | 38.2 | 35 | 35.2 | 34 | 34 | 30.4 | 28.9 | 29.1 |
| Profit before tax | 2.4 | −13.8 | −14.4 | −23.2 | −17 | −16.5 | 4.7 | −10 | −5.5 | −0.9 | 7.5 | −15.1 | −5.5 | −14.2 | 8.9 | 10.2 | 20.8 | 0.2 | 19.2 | 4.4 | −55.9 | 8.3 |
| Tax | 0.1 | 1.3 | −6.7 | −0.7 | −0.3 | 4.2 | −0.3 | −2.8 | −1.1 | −0.9 | 2.7 | −3.2 | −1.4 | −2.6 | 1.7 | 2.6 | 4.8 | −0.3 | 4.4 | 1 | −12 | 1.9 |
| Net profit | 2.3 | −15.1 | −7.7 | −22.5 | −16.7 | −20.6 | 5.1 | −7.1 | −4.3 | −0 | 4.8 | −11.9 | −4.1 | −11.6 | 7.2 | 7.5 | 16 | 0.5 | 14.8 | 3.3 | −43.9 | 6.4 |
| Net margin | 0.5% | -4.2% | -2.0% | -7.4% | -5.6% | -7.0% | 1.5% | -2.3% | -1.4% | -0.0% | 1.5% | -4.0% | -1.3% | -4.1% | 2.2% | 2.4% | 5.1% | 0.2% | 5.2% | 1.5% | -43.0% | 2.8% |
| EPS (₹) | 0.79 | -3.43 | -1.82 | -5.69 | -4.20 | -5.18 | 1.16 | -1.85 | -1.24 | -0.27 | 1.12 | -3.17 | -1.11 | -3.04 | 1.69 | 1.82 | 3.90 | -0.02 | 3.97 | -2.91 | -11.40 | 1.89 |
| Net profit YoY | +113.8% | +26.9% | −251.5% | −215.5% | −283.8% | −55624.3% | +4.5% | +40.2% | −7.2% | +99.7% | −32.7% | −258.3% | −125.3% | −2482.3% | −51.5% | +125.1% | +136.5% | −92.4% | – | – | – | – |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 |
|---|---|---|---|---|---|---|
| Revenue from operations | 1,339 | 1,233 | 1,255 | 1,234 | 861 | 507 |
| Other income | 14.8 | 15.8 | 17.6 | 8 | 26.3 | 46 |
| Total expenses | 1,422 | 1,276 | 1,286 | 1,220 | 919 | 667 |
| EBITDA | 193 | 211 | 212 | 231 | 134 | 46.4 |
| EBITDA margin | 14.4% | 17.1% | 16.9% | 18.7% | 15.5% | 9.1% |
| Finance costs | 86 | 77.9 | 75.9 | 71.7 | 65.3 | 84.9 |
| Depreciation | 190 | 176 | 168 | 145 | 127 | 121 |
| Profit before tax | −68.3 | −27.2 | −14 | 25.7 | −32.1 | −112 |
| Tax | −6.4 | −0.1 | −2.8 | 6.6 | −6.9 | −19.7 |
| Net profit | −61.9 | −27 | −11.2 | 19.1 | −25.2 | −91.9 |
| Net margin | -4.6% | -2.2% | -0.9% | 1.6% | -2.9% | -18.1% |
| EPS (₹) | -15.13 | -7.11 | -3.44 | 4.37 | -10.36 | -31.14 |
| Net profit YoY | −129.0% | −141.9% | −158.4% | +176.0% | +72.6% | – |
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 | FY22 |
|---|---|---|---|---|---|
| Operating cash flow | 223 | 193 | 221 | 233 | 59.8 |
| Investing cash flow | −128 | −89.9 | −106 | −158 | −90.2 |
| Financing cash flow | −86.3 | −122 | −121 | −119 | −130 |
| Capital expenditure | 129 | 83.1 | 87.7 | 146 | 93.3 |
| Free cash flow (CFO − capex) | 94.1 | 110 | 133 | 87.3 | −33.5 |
Net profit trend
annual, ₹ croreFY21
₹−91.9
FY22
₹−25.2+73%
FY23
₹19.1+176%
FY24
₹−11.2−158%
FY25
₹−27−142%
FY26
₹−61.9−129%
Result filings
as filed with NSE · PDF and XBRL| Period | Basis | Filed | Documents |
|---|---|---|---|
| Q1 FY27 | Consolidated | 4 Aug 2026 | PDF on NSE XBRL |
| Q1 FY27 | Standalone | 4 Aug 2026 | PDF on NSE XBRL |
| Q4 FY26 | Consolidated · audited | 19 May 2026 | PDF on NSE XBRL |
| Q4 FY26 | Standalone · audited | 19 May 2026 | PDF on NSE XBRL |
| Q3 FY26 | Consolidated | 30 Jan 2026 | PDF on NSE XBRL |
| Q3 FY26 | Standalone | 30 Jan 2026 | PDF on NSE XBRL |
| Q2 FY26 | Consolidated | 11 Nov 2025 | PDF on NSE XBRL |
| Q2 FY26 | Standalone | 11 Nov 2025 | PDF on NSE XBRL |
| Q1 FY26 | Consolidated | 31 Jul 2025 | PDF on NSE XBRL |
| Q1 FY26 | Standalone | 31 Jul 2025 | PDF on NSE XBRL |
Annual reports
NSE archiveKey ratios
P/E (TTM)5Y avg 129.2×-63.6×
P/B5Y avg 5.52×8.80×
ROEFY26, on average equity-18.4%
Net margin-4.6%
Debt / equity0.43×
Revenue CAGR (3Y)2.8%
Profit CAGR (3Y)–
EPS (TTM)₹-10.98
Market cap₹2,729 Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
8.80×
vs 8-point avg 5.52× (+59%)
2.46× low5.52× avg10.68× high
History points are balance-sheet dates (2022 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹1,437 Cr+9%
Net worth₹310 Cr−14%
Total borrowings₹134 Cr+93%
Cash & bank balances₹26 Cr+51%
Investments₹0 Cr
Inventories₹44 Cr−7%
Trade receivables₹3 Cr+32%
Trade payables₹139 Cr+26%
Change vs the same date a year earlier.