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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	Q4 FY19	Q4 FY18
Revenue from operations	945	840	768	814	600	674	608	638	489	580	467	494	479	583	591	514	514	594	490	451	278	422	370	284	205	372	396	375	0	0
Other income	3.1	9.6	6.3	10	2.4	3.9	11.5	8.8	3	2.9	5	12.6	3.1	1	4.2	9.1	3.4	3.3	2.3	10.5	3.4	1.3	3.4	6.4	2.3	1.1	2.9	7.5	0	0
Total expenses	902	815	749	777	575	644	607	624	490	549	456	499	470	564	578	498	497	577	485	459	271	413	362	290	214	359	380	362	0	0
EBITDA	91.5	68.9	60.2	73.7	57.8	61.8	34.6	47.1	31.7	61.2	40.7	23.2	36.6	51.8	43.1	46.3	44.2	47.8	30.1	15.6	29.4	32	30.1	15.6	13.2	40.1	41.7	36.8	0	0
EBITDA margin	9.7%	8.2%	7.8%	9.1%	9.6%	9.2%	5.7%	7.4%	6.5%	10.5%	8.7%	4.7%	7.6%	8.9%	7.3%	9.0%	8.6%	8.0%	6.2%	3.5%	10.6%	7.6%	8.1%	5.5%	6.4%	10.8%	10.5%	9.8%	–	–
Finance costs	36.5	32.5	31.2	27.1	24.1	24.7	27.4	25.9	25.8	23.6	24.4	21.9	21.5	27.3	24.1	24.4	21.7	24.5	19.6	17.3	16.3	16.2	15.1	15.1	16.4	21.5	21.1	17.7	0	0
Depreciation	12.2	11	10.2	9.2	8.6	7.1	6.6	6.8	6.8	6.4	6.1	5.6	5.6	5.6	5.6	5.7	5.6	5.7	6	6.3	6.4	6.7	6.9	6.4	6.2	6.1	5.4	5.6	0	0
Profit before tax	45.9	35.1	25	47.5	27.5	33.9	12	23.2	2.2	34	15.2	8.2	12.7	19.9	17.6	25.4	20.3	20.9	6.9	2.5	10.1	10.3	11.4	0.4	−7.1	13.7	18.1	21	0	0
Tax	14.7	21.3	6.4	14.1	12.5	15.3	5.3	4.8	2.7	16.3	9.3	2.4	8	13	6.3	5.8	8.2	9.9	4.4	1.7	7.6	11.3	7.3	3.3	0.5	42	4.2	0.9	0	0
Net profit	70.1	55.3	27.2	47.7	32.9	49.7	15.8	18.3	5.6	48.6	24	11.7	24	41.1	24.4	25.9	26.8	31.1	13.7	8.3	21.8	33.4	20	13.5	0.3	−0.5	28.5	28.7	0	0
Net margin	7.4%	6.6%	3.5%	5.9%	5.5%	7.4%	2.6%	2.9%	1.1%	8.4%	5.1%	2.4%	5.0%	7.0%	4.1%	5.0%	5.2%	5.2%	2.8%	1.8%	7.8%	7.9%	5.4%	4.8%	0.1%	-0.1%	7.2%	7.6%	–	–
EPS (₹)	20.22	15.94	7.84	13.74	9.49	14.32	4.56	5.27	1.61	14.00	6.90	3.36	6.93	11.83	7.04	7.46	7.72	8.98	3.94	2.39	6.29	9.65	5.76	3.89	0.08	-0.14	8.21	8.27	0.00	0.00
Net profit YoY	+113.1%	+11.3%	+71.8%	+160.9%	+488.6%	+2.3%	−33.9%	+56.8%	−76.7%	+18.3%	−1.9%	−55.0%	−10.2%	+31.9%	+78.4%	+212.1%	+22.7%	−7.0%	−31.6%	−38.5%	+7502.7%	+7078.6%	−29.8%	−52.9%	–	–	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Revenue from operations	3,023	2,408	2,021	2,202	1,814	1,281	1,569	1,417	1,209
Other income	28.3	22.8	23.6	17.6	19.5	13.5	14.9	12	11.1
Total expenses	2,916	2,360	1,974	2,136	1,793	1,279	1,503	1,325	1,177
EBITDA	261	180	162	185	123	90.8	166	175	107
EBITDA margin	8.6%	7.5%	8.0%	8.4%	6.8%	7.1%	10.6%	12.3%	8.8%
Finance costs	115	104	91.5	97.4	77.7	62.8	77.3	62.1	53.4
Depreciation	38.9	27.3	23.8	22.5	24.4	26.3	22.5	21.4	20.9
Profit before tax	135	71.3	70.1	83.1	40.3	15.1	81.1	103	43.6
Tax	54.3	28.1	35.9	33.4	23.6	22.3	56.7	34.2	1.7
Net profit	163	89.4	108	118	74.9	67.2	90.1	136	82.7
Net margin	5.4%	3.7%	5.4%	5.4%	4.1%	5.2%	5.7%	9.6%	6.8%
EPS (₹)	47.01	25.76	31.19	34.05	21.60	19.38	25.96	39.15	23.83
Net profit YoY	+82.5%	−17.4%	−8.4%	+57.7%	+11.5%	−25.4%	−33.7%	+64.3%	–

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	63.5	176	33.1	143	−11.8
Investing cash flow	−257	−141	−49.9	−15.2	−7
Financing cash flow	192	−31.2	18.1	−127	16.2
Capital expenditure	270	163	60.8	27.8	20.4
Free cash flow (CFO − capex)	−206	12.6	−27.7	115	−32.2

Net profit trend

annual, ₹ crore

FY21

₹67.2

FY22

₹74.9+11%

FY23

₹118+58%

FY24

₹108−8%

FY25

₹89.4−17%

FY26

₹163+82%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	7 Aug 2026	PDF on NSE XBRL
Q1 FY27	Standalone	7 Aug 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	23 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	23 May 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	6 Feb 2026	PDF on NSE XBRL
Q3 FY26	Standalone	6 Feb 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	12 Nov 2025	PDF on NSE XBRL
Q2 FY26	Standalone	12 Nov 2025	PDF on NSE XBRL
Q1 FY26	Consolidated	8 Aug 2025	PDF on NSE XBRL
Q1 FY26	Standalone	8 Aug 2025	PDF on NSE XBRL

Annual reports

NSE archive

FY264.05 MB FY25 FY24 FY23 FY22 FY21 FY19 FY18 FY17 FY16

Key ratios

P/E (TTM)5Y avg 14.5×25.9×

P/B5Y avg 1.01×2.74×

ROEFY26, on average equity8.9%

Net margin5.4%

Debt / equity0.62×

Revenue CAGR (3Y)11.1%

Profit CAGR (3Y)11.3%

EPS (TTM)₹57.74

Market cap₹5,184 Cr

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

P/B vs history

2.74×

vs 8-point avg 1.01× (+172%)

0.57× low1.01× avg2.74× high

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

Balance sheet 31 Mar 2026

Total assets₹4,323 Cr+26%

Net worth₹1,891 Cr+7%

Total borrowings₹1,176 Cr+39%

Cash & bank balances₹5 Cr−25%

Investments₹323 Cr−6%

Inventories₹608 Cr+54%

Trade receivables₹1,144 Cr+26%

Trade payables₹752 Cr+134%

Change vs the same date a year earlier.

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	61.89	61.89	61.89	61.89	61.89	61.89	61.89	61.89	61.89	61.89	61.89	61.89
FII	1.11	0.68	0.81	0.41	0.18	0.18	0.24	0.18	0.37	0.30	0.34	0.31
DII	3.31	4.54	4.51	6.10	6.66	6.62	6.59	6.64	5.25	6.18	5.25	3.01
of which MF	1.67	2.79	2.75	4.92	5.78	–	–	–	–	–	–	–
Retail	14.99	14.44	13.93	13.79	13.19	13.15	12.97	12.96	13.69	13.19	13.61	15.39
Other public	18.70	18.45	18.86	17.81	18.08	18.16	18.31	18.33	18.80	18.44	18.91	19.40

22,213 shareholders · NSE shareholding pattern filings.