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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 FY18
Revenue from operations	152	253	249	226	221	387	295	200	275	335	280	217	204	327	254	217	201	218	171	153	112	189	155	120	43.4	128	105	122	0
Other income	4.9	5.9	4.5	4.1	20.8	4.6	3.8	2.2	3	14.5	1.8	2.3	4	4.7	2.1	2.5	1.7	5.4	42.8	1.7	3.4	2.2	3.1	4.5	2.6	4	2.5	2.7	0
Total expenses	154	246	244	214	215	356	281	192	266	326	262	214	196	284	239	213	192	208	184	157	121	190	152	134	82.7	131	115	119	0
EBITDA	4.9	10.7	13.1	15.9	13	37.5	20	14.4	19.2	17.6	27	10.5	14.5	49.5	21.2	11.1	15.8	19.6	−5.4	5.1	−0.7	8.6	12.4	−4.6	−28.7	−0.8	−0.1	14.5	0
EBITDA margin	3.3%	4.2%	5.3%	7.0%	5.9%	9.7%	6.8%	7.2%	7.0%	5.3%	9.6%	4.8%	7.1%	15.1%	8.3%	5.1%	7.9%	9.0%	-3.2%	3.3%	-0.6%	4.5%	8.0%	-3.9%	-66.1%	-0.6%	-0.1%	11.9%	–
Finance costs	6.1	2.4	5.8	3.1	5	4.8	4.6	5.3	5.5	4.1	4.7	3.9	3.2	3.1	2.5	3.3	4	6.5	5.1	6.4	6.4	5.5	7.2	6.5	7.7	−1.9	6.7	8.1	0
Depreciation	1.3	1.5	1.6	1.3	1.5	1.6	1.6	1.5	3.8	3.9	3.7	3.7	3.1	3.3	3.2	3	2.5	2.9	2.8	2.7	2.5	3.3	2.8	3	3	3.9	3.8	3.8	0
Profit before tax	2.5	12.7	10.2	15.6	27.3	35.8	91.6	9.8	12.9	24.2	20.3	5.2	12.2	47.9	17.6	7.3	11.1	15.5	29.5	−2.3	−6.1	2	5.6	−9.7	−36.8	1.2	−8.1	5.3	0
Tax	0.5	6.8	0.8	4	4.6	2.1	15.8	2	3.1	7.3	1.3	0.6	0.4	2	1.1	0.1	0.7	3.4	0.1	0.8	0.2	−0.4	0.2	0.6	0	−0.3	0.3	0	0
Net profit	2	5.7	9.3	11.4	22.5	34.8	75.6	10.3	9.6	16.8	18.6	20.7	11.9	49.6	16.3	22.7	10.8	10.8	28.7	3.4	−7	2.6	5.3	−10.8	−37.3	−1	30.4	4.7	0
Net margin	1.3%	2.3%	3.7%	5.1%	10.2%	9.0%	25.6%	5.2%	3.5%	5.0%	6.6%	9.5%	5.8%	15.2%	6.4%	10.4%	5.4%	5.0%	16.8%	2.2%	-6.3%	1.3%	3.4%	-9.0%	-86.1%	-0.7%	29.0%	3.8%	–
EPS (₹)	0.09	0.25	0.41	0.50	0.99	1.49	3.38	0.35	0.43	0.76	0.84	0.94	0.54	2.28	0.75	1.04	0.49	0.50	1.34	0.19	-0.39	0.15	0.25	-0.61	-2.07	-0.05	1.71	0.24	0.00
Net profit YoY	−91.1%	−83.5%	−87.7%	+10.9%	+134.1%	+106.7%	+307.2%	−50.1%	−19.3%	−66.1%	+13.7%	−8.8%	+10.1%	+358.5%	−43.1%	+562.6%	+253.8%	+324.3%	+441.7%	+131.7%	+81.2%	+368.4%	−82.5%	−331.5%	–	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY18
Revenue from operations	949	1,078	1,037	1,000	653	507	485	0
Other income	35.2	12.5	22.6	11	53.2	12.4	20	0
Total expenses	919	1,015	998	927	670	558	501	0
EBITDA	52.7	87.9	69.6	97.5	18.5	−12.3	18	0
EBITDA margin	5.6%	8.2%	6.7%	9.8%	2.8%	-2.4%	3.7%	–
Finance costs	16.2	18.9	15.9	12.8	24.4	26.8	19.1	0
Depreciation	5.9	5.9	14.4	11.9	10.8	12.1	15	0
Profit before tax	65.8	150	61.9	83.8	36.5	−38.8	3.9	0
Tax	16.2	22.7	9.6	3.9	4.4	0.4	0.1	0
Net profit	48.9	130	67.9	99.4	35.9	−40.3	39.7	0
Net margin	5.2%	12.1%	6.6%	9.9%	5.5%	-7.9%	8.2%	–
EPS (₹)	2.15	5.64	3.05	4.49	1.76	-2.27	2.22	0.00
Net profit YoY	−62.5%	+91.7%	−31.7%	+176.8%	+189.2%	−201.4%	–	–

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	−122	4.8	−28.5	104	33.3
Investing cash flow	−17.2	68.1	−7.6	−32	−7
Financing cash flow	73.6	26.9	5.1	−44.1	−27.8
Capital expenditure	4.2	18.4	20.3	41.9	15
Free cash flow (CFO − capex)	−127	−13.6	−48.8	61.7	18.3

Net profit trend

annual, ₹ crore

FY21

₹−40.3

FY22

₹35.9+189%

FY23

₹99.4+177%

FY24

₹67.9−32%

FY25

₹130+92%

FY26

₹48.9−62%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	12 Aug 2026	PDF on NSE XBRL
Q1 FY27	Standalone	12 Aug 2026	PDF on NSE XBRL
Q4 FY26	Consolidated	11 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone	11 May 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	9 Feb 2026	PDF on NSE XBRL
Q3 FY26	Standalone	9 Feb 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	10 Nov 2025	PDF XBRL
Q2 FY26	Standalone	10 Nov 2025	PDF XBRL
Q1 FY26	Consolidated	4 Aug 2025	PDF XBRL
Q1 FY26	Standalone	4 Aug 2025	PDF XBRL

Annual reports

NSE archive

FY264.28 MB FY257.80 MB FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 11.5×28.3×

P/B5Y avg 1.06×0.70×

ROEFY26, on average equity4.4%

Net margin5.2%

Debt / equity0.26×

Revenue CAGR (3Y)-1.7%

Profit CAGR (3Y)-21.1%

EPS (TTM)₹1.23

Market cap₹805 Cr

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

P/B vs history

0.70×

vs 8-point avg 1.06× (−34%)

0.55× low1.06× avg1.45× high

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

Balance sheet 31 Mar 2026

Total assets₹2,361 Cr+11%

Net worth₹1,149 Cr+5%

Total borrowings₹299 Cr+46%

Cash & bank balances₹56 Cr−52%

Investments₹99 Cr+16%

Inventories₹737 Cr+25%

Trade receivables₹238 Cr+13%

Trade payables₹640 Cr+33%

Change vs the same date a year earlier.

Revenue mix FY26

EPC (Engineering, Procurement and Construction)96.5%result ₹122 Cr

Real Estate Development3.5%result ₹3.2 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	30.38	30.38	30.78	31.11	31.11	31.11	30.93	31.27	31.27	31.62	31.62	32.20
FII	0.33	0.51	0.48	1.90	0.50	0.72	0.54	0.55	0.40	0.89	0.11	0.90
DII	–	–	–	–	–	0.00	0.00	0.00	0.37	0.15	0.15	0.09
Retail	50.05	50.11	49.28	46.54	48.48	48.01	48.44	48.40	48.15	47.58	46.41	44.02
Other public	19.24	19.00	19.46	20.45	19.91	20.16	20.09	19.78	19.81	19.76	21.71	22.79

93,670 shareholders · NSE shareholding pattern filings.