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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	Q1 FY19	Q4 FY18
Revenue from operations	5,366	4,056	3,612	3,832	3,901	3,814	3,735	3,833	3,654	3,426	3,309	3,369	3,258	3,380	3,483	3,768	4,032	3,868	3,463	3,027	2,757	2,564	2,105	2,229	1,993	1,761	1,793	1,872	1,978	1,979	2,016	1,905	1,810
Other income	31.1	41.4	20.8	29	21.3	59.5	39.6	19.8	28.8	70.3	35.9	20	20	13.4	13.7	81.1	13.9	85.4	10.9	8.8	4.6	7.6	5.9	5.7	4.9	12	8	3.2	3.7	1.8	5	7.5	5
Total expenses	4,907	3,877	3,569	3,820	3,829	3,762	3,627	3,792	3,577	3,354	3,284	3,280	3,270	3,306	3,496	3,607	3,570	3,457	3,077	2,821	2,449	2,235	1,867	1,935	1,735	1,652	1,683	1,752	1,864	1,907	1,905	1,803	1,730
EBITDA	889	585	439	390	457	413	454	392	412	366	332	386	284	370	264	412	711	649	608	416	498	509	411	467	416	264	268	276	274	226	260	248	223
EBITDA margin	16.6%	14.4%	12.1%	10.2%	11.7%	10.8%	12.2%	10.2%	11.3%	10.7%	10.0%	11.5%	8.7%	10.9%	7.6%	10.9%	17.6%	16.8%	17.5%	13.7%	18.1%	19.8%	19.5%	21.0%	20.9%	15.0%	15.0%	14.7%	13.8%	11.4%	12.9%	13.0%	12.3%
Finance costs	216	197	193	188	199	184	174	178	162	128	140	132	135	130	133	105	105	98.3	86.5	75	62.7	60	56.7	58.5	54	53.2	56.7	56.9	57.9	56.6	53.6	53.4	51.3
Depreciation	213	209	202	189	187	176	172	173	173	165	166	164	161	166	144	146	144	140	135	135	127	120	116	115	104	102	101	98.6	102	97.2	95.7	92.1	92.6
Profit before tax	490	214	51.9	41.2	93.3	182	173	−31	−75.7	−247	−39.1	110	−373	21.5	−83.3	242	476	458	398	215	312	336	244	300	263	121	119	123	118	74	115	110	84.6
Tax	68.3	17	13	10.9	31.4	13.3	36.1	33.6	22.8	24.3	28.1	46.5	43.3	20.7	2.2	51.5	101	107	84	43.6	48.1	71.4	83.4	77.6	66.1	20.2	34	29.1	26.8	19.6	19.3	15.3	13.9
Net profit	423	196	36.1	26.9	58	169	137	−64.6	−98.5	−271	−67.2	63.3	−416	0.9	−85.4	191	375	351	314	171	264	265	160	222	196	101	84.8	94.3	90.9	54	95.7	94.1	71.1
Net margin	7.9%	4.8%	1.0%	0.7%	1.5%	4.4%	3.7%	-1.7%	-2.7%	-7.9%	-2.0%	1.9%	-12.8%	0.0%	-2.5%	5.1%	9.3%	9.1%	9.1%	5.6%	9.6%	10.3%	7.6%	10.0%	9.9%	5.7%	4.7%	5.0%	4.6%	2.7%	4.7%	4.9%	3.9%
EPS (₹)	58.62	27.15	5.01	3.73	8.03	23.34	18.95	-8.95	-13.63	-37.52	-9.31	8.77	-57.63	0.12	-11.83	26.41	51.86	48.51	43.37	23.64	36.56	36.66	22.15	30.72	27.21	13.93	11.71	13.02	12.56	7.48	13.25	13.03	9.85
Net profit YoY	+629.2%	+16.3%	−73.6%	+141.6%	+158.9%	+162.2%	+303.5%	−202.1%	+76.3%	−30884.1%	+21.3%	−66.8%	−211.1%	−99.7%	−127.2%	+11.7%	+41.8%	+32.3%	+95.7%	−23.0%	+34.5%	+162.6%	+88.9%	+135.3%	+116.1%	–	+57.1%	−1.5%	−3.4%	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY18
Revenue from operations	15,401	15,036	13,364	14,663	13,127	8,891	7,405	6,789
Other income	112	148	146	122	110	24.1	26.8	20
Total expenses	15,094	14,758	13,187	13,978	11,816	7,773	6,951	6,458
EBITDA	1,871	1,671	1,367	1,757	2,170	1,803	1,082	879
EBITDA margin	12.1%	11.1%	10.2%	12.0%	16.5%	20.3%	14.6%	13.0%
Finance costs	777	698	536	473	322	229	225	197
Depreciation	787	695	655	599	537	456	403	352
Profit before tax	400	248	−549	656	1,382	1,142	481	351
Tax	72.2	106	142	175	283	299	110	41.7
Net profit	317	142	−691	481	1,099	844	371	310
Net margin	2.1%	0.9%	-5.2%	3.3%	8.4%	9.5%	5.0%	4.6%
EPS (₹)	43.91	19.71	-95.69	66.57	152.09	116.73	51.21	43.00
Net profit YoY	+122.7%	+120.6%	−243.8%	−56.3%	+30.3%	+127.5%	–	–

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	992	1,135	825	1,383	707
Investing cash flow	−2,015	−1,732	−1,619	−1,172	−951
Financing cash flow	941	678	776	292	216
Capital expenditure	2,049	1,731	1,637	1,299	983
Free cash flow (CFO − capex)	−1,057	−597	−812	84	−276

Net profit trend

annual, ₹ crore

FY21

₹844

FY22

₹1,099+30%

FY23

₹481−56%

FY24

₹−691−244%

FY25

₹142+121%

FY26

₹317+123%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	14 Aug 2026	PDF on NSE XBRL
Q1 FY27	Standalone	14 Aug 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	30 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	30 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	13 Nov 2025	PDF XBRL
Q2 FY26	Standalone	13 Nov 2025	PDF XBRL
Q1 FY26	Consolidated	13 Aug 2025	PDF on NSE XBRL
Q1 FY26	Standalone	13 Aug 2025	PDF on NSE XBRL

Annual reports

NSE archive

FY2623.09 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)7.0×

P/B0.59×

ROEFY26, on average equity4.1%

Net margin2.1%

Debt / equity1.21×

Revenue CAGR (3Y)1.7%

Profit CAGR (3Y)-13.0%

EPS (TTM)₹94.46

Market cap₹4,796 Cr

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

Balance sheet 31 Mar 2026

Total assets₹22,171 Cr+14%

Net worth₹8,122 Cr+10%

Total borrowings₹9,853 Cr+21%

Cash & bank balances₹984 Cr−13%

Investments₹116 Cr−20%

Inventories₹2,408 Cr−5%

Trade receivables₹3,861 Cr+3%

Trade payables₹2,459 Cr+7%

Change vs the same date a year earlier.

Revenue mix FY26

Flexible Packaging Activities96.6%result ₹1,296 Cr

Engineering Activities3.4%result ₹84.7 Cr

Segment revenue as reported, before inter-segment eliminations.

Shareholding 30 Jun 2026

%	Jun 26	Mar 26	Dec 25	Sept 25	Jun 25	Mar 25	Dec 24	Sept 24	Jun 24	Mar 24	Dec 23	Sept 23
Promoter	44.58	44.58	44.58	44.58	44.58	44.58	44.58	44.58	44.58	44.58	44.58	44.58
FII	10.03	9.21	8.98	7.74	7.62	7.57	7.94	7.63	8.03	7.47	7.03	6.51
DII	0.60	0.53	0.52	0.52	0.52	0.52	0.52	0.58	0.72	0.70	0.69	0.68
Retail	12.38	12.10	12.22	12.33	12.55	12.77	12.67	12.95	13.07	13.45	14.49	15.19
Other public	32.41	33.58	33.70	34.83	34.73	34.56	34.29	34.26	33.60	33.80	33.21	33.04

43,889 shareholders · NSE shareholding pattern filings.