Quarterly results
standalone · 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 | Q4 FY19 | Q3 FY19 | Q1 FY19 | Q4 FY18 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 879 | 853 | 827 | 797 | 744 | 809 | 825 | 799 | 727 | 768 | 737 | 709 | 674 | 698 | 682 | 731 | 717 | 665 | 678 | 636 | 414 | 600 | 563 | 439 | 160 | 498 | 557 | 524 | 540 | 513 | 551 | 528 | 489 |
| Other income | 6 | 6.4 | 3.8 | 7 | 6.5 | 2.5 | 5.7 | 2.5 | 14.8 | 3.8 | 2.4 | 6 | 8.9 | 4.7 | 4.5 | 2.2 | 3 | 6.6 | 4.9 | 1.8 | 3.5 | 2.9 | 5.1 | 2.5 | 2.3 | 2.4 | 2.4 | 3.1 | 2.4 | 1.9 | 1.2 | 2.5 | 2.1 |
| Total expenses | 777 | 762 | 747 | 735 | 684 | 712 | 747 | 753 | 724 | 743 | 720 | 688 | 637 | 643 | 635 | 689 | 654 | 598 | 606 | 572 | 425 | 552 | 514 | 400 | 246 | 497 | 527 | 501 | 500 | 482 | 510 | 494 | 471 |
| EBITDA | 187 | 177 | 170 | 151 | 152 | 187 | 166 | 133 | 86.9 | 105 | 94.3 | 91.8 | 102 | 114 | 103 | 99.2 | 114 | 126 | 129 | 113 | 36.1 | 95.6 | 98.8 | 86.9 | −33.9 | 56.6 | 79.7 | 73.2 | 88.8 | 60 | 69.7 | 60.2 | 44.4 |
| EBITDA margin | 21.2% | 20.8% | 20.6% | 19.0% | 20.4% | 23.1% | 20.2% | 16.6% | 11.9% | 13.7% | 12.8% | 12.9% | 15.1% | 16.3% | 15.2% | 13.6% | 16.0% | 18.9% | 19.0% | 17.8% | 8.7% | 15.9% | 17.5% | 19.8% | -21.2% | 11.4% | 14.3% | 14.0% | 16.5% | 11.7% | 12.6% | 11.4% | 9.1% |
| Finance costs | 22.7 | 22.7 | 21.9 | 24.2 | 26.2 | 25.8 | 24.1 | 22.4 | 22.6 | 21.8 | 21.3 | 18.5 | 16.3 | 13.3 | 15.1 | 14.6 | 12.3 | 12 | 11.8 | 9.8 | 9.5 | 9.2 | 8.3 | 9 | 10.4 | 10.5 | 8.6 | 8.8 | 8.8 | 3.7 | 3.6 | 1.6 | 2.2 |
| Depreciation | 62.4 | 63.5 | 68.1 | 64.8 | 64.7 | 63.8 | 64.6 | 63.8 | 61.5 | 58.3 | 56.8 | 52.2 | 48.9 | 45.3 | 42.1 | 42.9 | 39 | 46.3 | 44.4 | 39.6 | 37.7 | 38 | 41.1 | 38.8 | 41.9 | 45.3 | 40.8 | 41.5 | 40 | 25.5 | 25.3 | 24.5 | 24.5 |
| Profit before tax | 108 | 97.7 | 83.8 | 69.1 | 67.2 | 99.6 | 83.5 | 49.3 | 17.6 | 29.1 | 18.7 | 27.6 | 45.6 | 60.2 | 50.6 | 44 | 66.1 | 74.1 | 77.7 | 65.7 | −7.6 | 51.3 | 54.5 | 41.7 | −83.8 | 3.3 | 32.6 | 26 | 42.4 | 32.6 | 42 | 36.6 | 19.8 |
| Tax | 27 | 25.5 | 19.1 | 19.2 | 17.2 | 25.3 | 24 | 13.5 | 4.2 | 7.6 | 5 | 7.9 | 11.7 | −0.7 | 12.8 | 12.5 | 16.7 | 17.9 | 17.2 | 16.2 | −1.6 | 14.1 | 14.8 | 10.8 | −21.1 | 1.1 | 6.8 | −8.7 | 15 | 12.1 | 15.4 | 12.4 | 7.8 |
| Net profit | 80.5 | 72.1 | 64.8 | 49.9 | 50 | 74.3 | 59.4 | 35.8 | 13.4 | 21.5 | 13.7 | 19.7 | 33.9 | 193 | 49.2 | 31.5 | 49.4 | 56.2 | 60.5 | 49.5 | −6 | 37.2 | 39.7 | 30.9 | −62.7 | 2.1 | 25.8 | 34.7 | 27.5 | 20.5 | 26.6 | 24.2 | 12 |
| Net margin | 9.2% | 8.5% | 7.8% | 6.3% | 6.7% | 9.2% | 7.2% | 4.5% | 1.8% | 2.8% | 1.9% | 2.8% | 5.0% | 27.7% | 7.2% | 4.3% | 6.9% | 8.4% | 8.9% | 7.8% | -1.5% | 6.2% | 7.1% | 7.0% | -39.2% | 0.4% | 4.6% | 6.6% | 5.1% | 4.0% | 4.8% | 4.6% | 2.5% |
| EPS (₹) | 4.60 | 4.12 | 3.70 | 2.85 | 5.72 | 8.49 | 6.79 | 4.09 | 1.54 | 2.46 | 1.56 | 2.27 | 3.88 | 6.91 | 4.27 | 3.56 | 5.59 | 6.36 | 6.85 | 5.60 | -0.68 | 4.21 | 4.40 | 3.42 | -6.94 | 0.24 | 2.86 | 3.84 | 3.04 | 2.27 | 2.94 | 2.68 | 1.34 |
| Net profit YoY | +60.9% | −2.8% | +9.0% | +39.3% | +272.4% | +244.7% | +335.3% | +81.7% | −60.4% | −88.8% | −72.3% | −37.3% | −31.2% | +243.8% | −18.7% | −36.4% | +917.1% | +51.2% | +52.2% | +60.2% | +90.4% | +1637.5% | +54.0% | −11.1% | −328.4% | −89.6% | −2.9% | – | +13.5% | +70.7% | – | – | – |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 3,221 | 3,161 | 2,889 | 2,649 | 2,394 | 1,763 | 2,119 | 2,110 | 1,922 |
| Other income | 23.7 | 25.5 | 21.1 | 14.3 | 16.8 | 12.9 | 10.3 | 7.9 | 14.2 |
| Total expenses | 2,927 | 2,936 | 2,789 | 2,460 | 2,201 | 1,712 | 2,025 | 1,977 | 1,797 |
| EBITDA | 650 | 573 | 393 | 402 | 404 | 247 | 298 | 244 | 234 |
| EBITDA margin | 20.2% | 18.1% | 13.6% | 15.2% | 16.9% | 14.0% | 14.1% | 11.6% | 12.2% |
| Finance costs | 95 | 94.8 | 77.9 | 54.3 | 43.1 | 36.8 | 36.7 | 10.9 | 11.4 |
| Depreciation | 261 | 254 | 216 | 159 | 168 | 160 | 168 | 101 | 97.6 |
| Profit before tax | 318 | 250 | 121 | 203 | 210 | 63.7 | 104 | 140 | 139 |
| Tax | 81.1 | 67 | 31.9 | 36.4 | 49.8 | 18.7 | 14.2 | 48.6 | 46.8 |
| Net profit | 237 | 183 | 88.9 | 323 | 160 | 45.1 | 90.1 | 91.9 | 92.6 |
| Net margin | 7.4% | 5.8% | 3.1% | 12.2% | 6.7% | 2.6% | 4.3% | 4.4% | 4.8% |
| EPS (₹) | 13.54 | 20.91 | 10.18 | 18.80 | 18.12 | 4.99 | 9.97 | 10.17 | 10.17 |
| Net profit YoY | +29.5% | +105.9% | −72.5% | +101.9% | +255.3% | −50.0% | −2.0% | −0.7% | – |
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 | 654 | 558 | 424 | 318 | 371 |
| Investing cash flow | −294 | −430 | −243 | −144 | −180 |
| Financing cash flow | −398 | −93.2 | −174 | −171 | −195 |
| Capital expenditure | 299 | 449 | 285 | 412 | 193 |
| Free cash flow (CFO − capex) | 356 | 109 | 139 | −94.1 | 177 |
Net profit trend
annual, ₹ croreFY21
₹45.1
FY22
₹160+255%
FY23
₹323+102%
FY24
₹88.9−73%
FY25
₹183+106%
FY26
₹237+29%
Result filings
as filed with NSE · PDF and XBRL| Period | Basis | Filed | Documents |
|---|---|---|---|
| Q1 FY27 | Standalone | 4 Aug 2026 | PDF on NSE XBRL |
| Q4 FY26 | Standalone · audited | 18 May 2026 | PDF on NSE XBRL |
| Q3 FY26 | Standalone | 5 Feb 2026 | PDF on NSE XBRL |
| Q2 FY26 | Standalone | 3 Nov 2025 | PDF on NSE XBRL |
| Q1 FY26 | Standalone | 6 Aug 2025 | PDF XBRL |
| Q4 FY25 | Standalone · audited | 21 May 2025 | PDF on NSE XBRL |
| Q3 FY25 | Standalone | 5 Feb 2025 | PDF on NSE XBRL |
| Q2 FY25 | Standalone | 13 Nov 2024 | PDF on NSE XBRL |
| Q1 FY25 | Standalone | 5 Aug 2024 | PDF on NSE XBRL |
| Q4 FY24 | Standalone · audited | 20 May 2024 | PDF on NSE XBRL |
Annual reports
NSE archiveKey ratios
P/E (TTM)5Y avg 27.8×19.0×
P/B5Y avg 5.21×4.44×
ROEFY26, on average equity21.3%
Net margin7.4%
Debt / equity0.40×
Revenue CAGR (3Y)6.7%
Profit CAGR (3Y)-9.8%
EPS (TTM)₹15.28
Market cap₹5,068 Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
4.44×
vs 8-point avg 5.21× (−15%)
3.58× low5.21× avg7.28× high
History points are balance-sheet dates (2022 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹2,605 Cr+1%
Net worth₹1,142 Cr+5%
Total borrowings₹456 Cr+2%
Cash & bank balances₹15 Cr−71%
Investments₹0 Cr+9%
Inventories₹44 Cr+2%
Trade receivables₹86 Cr−8%
Trade payables₹26 Cr+101%
Change vs the same date a year earlier.
Revenue mix FY22
Goods Transport89.9%result ₹271 Cr
Bus Operations8.6%result ₹−1.4 Cr
Sale of Power1.1%result ₹7.5 Cr
Transport of passengers by air0.5%result ₹−2.2 Cr
Segment revenue as reported, before inter-segment eliminations.