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Quarterly results

consolidated · as filed with NSE · Q1 FY27 back to Q3 FY20

₹ 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
Revenue from operations	997	797	929	1,341	632	499	591	380	415	296	374	231	264	193	240	195	211	158	239	150	82.5	189	227	85	37	129	572
Other income	1	4.1	4.3	2	0.9	1.9	1.2	2.5	1.4	0.9	3	2.1	1.4	2.1	2.4	1.2	1	3.7	1.1	2	9.1	8.4	1.3	5.5	7.7	0.8	1.7
Total expenses	947	779	823	1,289	600	490	524	385	395	297	345	242	257	206	230	211	216	175	223	156	106	210	209	101	57	146	562
EBITDA	139	109	174	173	87.2	57.8	111	33.1	55.5	31.4	60.9	19.9	35.6	14.2	38.1	10.1	21.6	6.5	39.9	17.5	0.8	2.4	42.3	4.1	−0.3	2.9	72
EBITDA margin	14.0%	13.7%	18.7%	12.9%	13.8%	11.6%	18.9%	8.7%	13.4%	10.6%	16.3%	8.6%	13.5%	7.4%	15.9%	5.2%	10.2%	4.1%	16.7%	11.7%	0.9%	1.3%	18.6%	4.8%	-0.9%	2.2%	12.6%
Finance costs	25	24	22	50.8	22.8	21.4	17.8	15	13.7	12.8	11.7	12.3	10.4	9.4	10.4	11.1	9.7	9.4	9.1	9.1	9	9	8.2	6.9	7.1	7.3	23
Depreciation	63.9	66.8	45.7	69.7	32.1	27.9	26.3	23	21.4	19.5	20.9	18.2	18.1	17.3	17.6	15.6	16.5	13.7	15.1	14.7	15.3	14.6	15.3	13	12.5	12.4	38.5
Profit before tax	51.6	22.4	138	54.2	33.3	10.3	68.5	−2.4	21.8	0	31.4	−8.5	8.4	−10.3	12.5	−15.5	−3.7	−12.9	16.8	−4.3	−14.4	−12.8	20	−10.3	−12.2	−16.1	24.7
Tax	9.7	4.9	35.9	12.3	8.6	3.9	17.3	−0.5	5.4	−3.6	7.8	−2.8	2.1	−2.6	3.2	−3.9	−0.8	−3.4	4.5	−1.1	−3.1	−2.5	5.1	−2.1	−2.9	−4	3.9
Net profit	41.9	17.5	102	41.9	24.7	6.4	51.2	−1.9	16.3	3.6	23.6	−5.7	6.2	−7.7	9.3	−11.6	−2.8	−9.5	12.3	−3.1	−11.3	−10.3	14.9	−8.2	−9.3	−12.1	20.9
Net margin	4.2%	2.2%	11.0%	3.1%	3.9%	1.3%	8.7%	-0.5%	3.9%	1.2%	6.3%	-2.5%	2.4%	-4.0%	3.9%	-6.0%	-1.3%	-6.0%	5.1%	-2.1%	-13.7%	-5.4%	6.5%	-9.6%	-25.2%	-9.4%	3.6%
EPS (₹)	1.15	0.50	29.17	12.05	7.13	1.86	14.80	-0.56	4.72	1.04	6.82	-1.64	1.81	-2.24	2.71	-3.37	-0.82	-2.77	3.58	-0.91	-3.32	-3.01	4.36	2.39	-2.73	-3.54	6.12
Net profit YoY	+69.7%	+172.0%	+99.4%	+2265.2%	+50.9%	+78.8%	+117.2%	+66.0%	+161.8%	+146.7%	+153.0%	+50.9%	+320.3%	+19.0%	−24.2%	−269.1%	+75.0%	+7.4%	−17.5%	+61.5%	−21.5%	+15.0%	−28.7%	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20
Revenue from operations	3,067	1,884	1,165	839	629	539	701
Other income	10.4	7	7.5	6.7	15.9	23	2.5
Total expenses	2,891	1,793	1,141	863	660	577	708
EBITDA	455	258	148	84	64.7	48.5	74.9
EBITDA margin	14.9%	13.7%	12.7%	10.0%	10.3%	9.0%	10.7%
Finance costs	96.7	67.9	47.2	40.6	36.6	31.3	30.3
Depreciation	182	98.6	76.7	67.1	58.8	55.5	51
Profit before tax	215	98.2	31.4	−17	−14.9	−15.3	8.7
Tax	52.5	26.2	3.6	−4.1	−3.2	−2.4	−0.1
Net profit	162	72	27.8	−12.8	−11.7	−12.8	8.8
Net margin	5.3%	3.8%	2.4%	-1.5%	-1.9%	-2.4%	1.3%
EPS (₹)	4.58	20.83	8.04	-3.73	-3.40	-3.77	2.57
Net profit YoY	+125.0%	+159.0%	+317.0%	−9.8%	+9.1%	−246.2%	–

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	−103	223	93.4	86.4	58.6
Investing cash flow	−219	−131	−39.3	−12.3	−15.7
Financing cash flow	319	−92.7	−49.6	−75.7	−58.3
Capital expenditure	231	134	39.2	12	16.1
Free cash flow (CFO − capex)	−334	88.6	54.2	74.4	42.5

Net profit trend

annual, ₹ crore

FY21

₹−12.8

FY22

₹−11.7+9%

FY23

₹−12.8−10%

FY24

₹27.8+317%

FY25

₹72+159%

FY26

₹162+125%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	13 Aug 2026	PDF on NSE XBRL
Q1 FY27	Standalone	13 Aug 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	28 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	28 May 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	3 Feb 2026	PDF on NSE XBRL
Q3 FY26	Standalone	3 Feb 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	–	PDF on NSE XBRL
Q2 FY26	Consolidated	14 Nov 2025	PDF on NSE XBRL
Q2 FY26	Standalone	14 Nov 2025	PDF on NSE XBRL
Q2 FY26	Standalone	–	PDF on NSE XBRL

Annual reports

NSE archive

FY2613.54 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 61.6×38.5×

P/B5Y avg 9.10×8.68×

ROEFY26, on average equity26.0%

Net margin5.3%

Debt / equity0.28×

Revenue CAGR (3Y)54.1%

Profit CAGR (3Y)–

EPS (TTM)₹5.58

Market cap₹7,830 Cr

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

P/B vs history

8.68×

vs 8-point avg 9.10× (−5%)

1.03× low9.10× avg19.62× high

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

Balance sheet 31 Mar 2026

Total assets₹2,422 Cr+49%

Net worth₹902 Cr+161%

Total borrowings₹254 Cr+120%

Cash & bank balances₹6 Cr−34%

Investments₹0 Cr

Inventories₹1,142 Cr+105%

Trade receivables₹2 Cr+1536%

Trade payables₹463 Cr+25%

Change vs the same date a year earlier.

Shareholding 30 Jun 2026

%	Jun 26	Mar 26	Mar 26	Dec 25	Nov 25	Sept 25	Jun 25	Mar 25	Dec 24	Sept 24	Jun 24	Mar 24
Promoter	51.43	51.43	51.43	51.43	51.43	54.22	54.22	54.24	54.30	54.30	54.30	54.28
FII	3.11	2.62	2.59	3.01	3.76	2.10	1.90	1.31	0.91	0.80	6.69	6.57
DII	10.65	9.28	9.32	9.12	10.37	7.12	7.34	6.70	5.99	4.37	0.43	0.36
of which MF	9.27	8.29	8.34	7.94	7.90	6.59	6.86	–	–	–	–	–
Retail	26.73	28.08	28.08	28.29	26.72	27.76	28.64	28.68	28.69	29.10	27.15	27.15
Other public	8.08	8.59	8.58	8.15	7.72	8.80	7.90	9.07	10.11	11.43	11.43	11.64

52,967 shareholders · NSE shareholding pattern filings.