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 | Q4 FY19 | Q3 FY19 | Q2 FY19 | Q1 FY19 | Q4 FY18 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 887 | 1,414 | 961 | 1,569 | 734 | 1,156 | 811 | 700 | 627 | 934 | 704 | 665 | 553 | 927 | 652 | 750 | 632 | 892 | 745 | 684 | 658 | 999 | 796 | 608 | 431 | 785 | 679 | 636 | 457 | 679 | 662 | 752 | 688 | 1,037 |
| Other income | 52 | 31.9 | 23.2 | 39.3 | 11.3 | 11.4 | 14.8 | 13.8 | 10.8 | 8.2 | 3.7 | 15.4 | 25.7 | 7.7 | 2 | 22.9 | 33.2 | 9.6 | 5.5 | 3 | 14.3 | 1.6 | 3.6 | 1.7 | 1.3 | 25.7 | 2.8 | 5.5 | 1.2 | 2.7 | 0.5 | 0.5 | 0.7 | 2.6 |
| Total expenses | 826 | 1,275 | 859 | 1,412 | 659 | 1,038 | 732 | 627 | 565 | 843 | 624 | 598 | 505 | 837 | 595 | 716 | 628 | 846 | 694 | 652 | 648 | 948 | 752 | 592 | 426 | 766 | 644 | 605 | 450 | 667 | 636 | 711 | 666 | 963 |
| EBITDA | 79.5 | 157 | 122 | 199 | 95.6 | 141 | 100 | 93.6 | 81.3 | 116 | 98.9 | 86.1 | 65.6 | 108 | 74.9 | 53.7 | 22.8 | 71.5 | 76.2 | 56.6 | 32.7 | 76.4 | 70.2 | 43.3 | 28.9 | 50.8 | 67.3 | 61.5 | 37.5 | 40.9 | 49.3 | 62.8 | 41.2 | 94.8 |
| EBITDA margin | 9.0% | 11.1% | 12.6% | 12.7% | 13.0% | 12.2% | 12.4% | 13.4% | 13.0% | 12.4% | 14.0% | 12.9% | 11.9% | 11.7% | 11.5% | 7.2% | 3.6% | 8.0% | 10.2% | 8.3% | 5.0% | 7.6% | 8.8% | 7.1% | 6.7% | 6.5% | 9.9% | 9.7% | 8.2% | 6.0% | 7.4% | 8.4% | 6.0% | 9.1% |
| Finance costs | 17.2 | 16.6 | 17.9 | 38.4 | 18.8 | 21.5 | 20.3 | 19 | 18 | 21.8 | 16.7 | 16.8 | 15.8 | 16.2 | 16.2 | 17 | 16.4 | 23.5 | 22.3 | 22.2 | 19.8 | 22.2 | 22.9 | 23.7 | 21.5 | 27.3 | 28.3 | 26.3 | 27.2 | 24 | 18.8 | 17.7 | 14.8 | 15.8 |
| Depreciation | 1.6 | 1.5 | 1.6 | 3.1 | 1.4 | 1.4 | 1.3 | 1.3 | 1.9 | 2.5 | 2.1 | 2.1 | 1.7 | 2.2 | 2.2 | 2.2 | 2.3 | 2.5 | 2.3 | 2.6 | 2.7 | 2.7 | 3 | 3.5 | 2.9 | 4 | 3.6 | 4.3 | 3.5 | 4.2 | 4.1 | 4.2 | 4.3 | 4.5 |
| Profit before tax | 113 | 171 | 121 | 198 | 86.7 | 131 | 90.9 | 87.1 | 70 | 99.9 | 83.8 | 82.6 | 64 | −146 | 58.5 | 57.4 | 37.4 | 55.1 | 57.1 | 34.8 | 24.5 | 53 | 47.9 | 17.8 | 5.8 | 45.2 | 41.4 | 36.6 | 9.2 | 15.8 | 27 | 42.6 | 24.3 | 78 |
| Tax | 28.1 | 41.9 | 30 | 46.9 | 20.9 | 31.6 | 20.7 | 22.1 | 15.2 | 21.8 | 20.7 | 22.8 | 14.4 | −29.9 | 13.3 | 13.2 | 9.3 | 10.5 | 10.9 | 9.3 | 5.7 | 10.7 | 12 | 4.4 | 2.3 | 14.1 | 13.2 | 12.8 | 8.5 | −18.6 | 14.9 | 14.1 | 10.1 | 14.5 |
| Net profit | 90.1 | 128 | 91.3 | 151 | 65.8 | 99.5 | 70.2 | 70.3 | 54.8 | 70.7 | 62.6 | 60.1 | 49.6 | −112 | 46.5 | 46.5 | 29.9 | 46.1 | 45.5 | 25.9 | 14.6 | 43.8 | 38 | 13.9 | 5 | 31.2 | 28.3 | 23.9 | 0.6 | 34.4 | 12.1 | 28.5 | 14.2 | 63.4 |
| Net margin | 10.2% | 9.0% | 9.5% | 9.6% | 9.0% | 8.6% | 8.7% | 10.0% | 8.7% | 7.6% | 8.9% | 9.0% | 9.0% | -12.1% | 7.1% | 6.2% | 4.7% | 5.2% | 6.1% | 3.8% | 2.2% | 4.4% | 4.8% | 2.3% | 1.2% | 4.0% | 4.2% | 3.8% | 0.1% | 5.1% | 1.8% | 3.8% | 2.1% | 6.1% |
| EPS (₹) | 14.35 | 22.68 | 15.63 | 24.21 | 10.58 | 18.83 | 11.29 | 11.35 | 8.84 | 11.64 | 10.11 | 8.87 | 7.84 | 11.42 | 12.62 | 6.37 | 4.40 | 7.70 | 6.41 | 4.22 | 2.45 | 6.52 | 8.55 | 3.68 | 1.95 | 7.50 | 5.63 | 4.96 | 0.48 | 7.46 | 2.82 | 6.55 | 2.38 | 10.92 |
| Net profit YoY | +36.9% | +28.6% | +30.1% | +114.2% | +20.1% | +40.7% | +12.1% | +17.0% | +10.5% | +163.2% | +34.5% | +29.4% | +66.0% | −343.0% | +2.3% | +79.2% | +105.1% | +5.2% | +19.6% | +86.1% | +189.1% | +40.6% | +34.7% | −41.7% | +687.5% | −9.5% | +133.7% | −16.1% | −95.5% | −45.7% | – | – | – | – |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 3,944 | 3,294 | 2,856 | 2,960 | 2,979 | 2,834 | 2,557 | 2,781 | 3,457 |
| Other income | 94.3 | 44.6 | 43.4 | 53.6 | 32.4 | 8.2 | 35.2 | 4.4 | 5.7 |
| Total expenses | 3,546 | 2,956 | 2,560 | 2,717 | 2,840 | 2,718 | 2,465 | 2,679 | 3,241 |
| EBITDA | 477 | 422 | 376 | 318 | 237 | 219 | 217 | 194 | 292 |
| EBITDA margin | 12.1% | 12.8% | 13.2% | 10.7% | 8.0% | 7.7% | 8.5% | 7.0% | 8.4% |
| Finance costs | 72.9 | 78.8 | 71.1 | 65.8 | 87.7 | 90.3 | 109 | 75.3 | 57.7 |
| Depreciation | 6.2 | 5.9 | 8.4 | 8.8 | 10.1 | 12.1 | 15.4 | 16.8 | 17.8 |
| Profit before tax | 488 | 384 | 330 | 7.6 | 172 | 125 | 128 | 110 | 224 |
| Tax | 119 | 89.6 | 79.7 | 5.9 | 36.3 | 29.5 | 48.6 | 20.5 | 77.4 |
| Net profit | 370 | 295 | 251 | 10.9 | 132 | 101 | 83.9 | 89.2 | 147 |
| Net margin | 9.4% | 8.9% | 8.8% | 0.4% | 4.4% | 3.6% | 3.3% | 3.2% | 4.3% |
| EPS (₹) | 70.24 | 50.09 | 39.49 | 36.87 | 20.80 | 20.13 | 19.30 | 19.21 | 24.08 |
| Net profit YoY | +25.4% | +17.5% | +2196.4% | −91.7% | +31.0% | +20.1% | −5.9% | −39.3% | – |
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 | 207 | 355 | 134 | 132 | 11.6 |
| Investing cash flow | −20.4 | −121 | 84.1 | −1.7 | −34 |
| Financing cash flow | −185 | 34 | 43.6 | −269 | 44.6 |
| Capital expenditure | 5.2 | 4.5 | 11.9 | 5.2 | 5.5 |
| Free cash flow (CFO − capex) | 202 | 351 | 122 | 127 | 6.1 |
Net profit trend
annual, ₹ croreFY21
₹101
FY22
₹132+31%
FY23
₹10.9−92%
FY24
₹251+2196%
FY25
₹295+17%
FY26
₹370+25%
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 · audited | 21 May 2026 | PDF on NSE XBRL |
| Q4 FY26 | Standalone · audited | 21 May 2026 | PDF on NSE XBRL |
| Q3 FY26 | Consolidated | 5 Feb 2026 | PDF on NSE XBRL |
| Q3 FY26 | Standalone | 5 Feb 2026 | PDF on NSE XBRL |
| Q2 FY26 | Consolidated | – | PDF on NSE XBRL |
| Q2 FY26 | Consolidated | 7 Nov 2025 | PDF XBRL |
| Q2 FY26 | Standalone | 7 Nov 2025 | PDF XBRL |
| Q2 FY26 | Standalone | – | PDF on NSE XBRL |
Annual reports
NSE archiveKey ratios
P/E (TTM)5Y avg 67.7×27.3×
P/B5Y avg 2.81×4.89×
ROEFY26, on average equity15.7%
Net margin9.4%
Debt / equity0.09×
Revenue CAGR (3Y)10.0%
Profit CAGR (3Y)223.4%
EPS (TTM)₹73.60
Market cap₹12,553 Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
4.89×
vs 8-point avg 2.81× (+74%)
0.99× low2.81× avg4.89× high
History points are balance-sheet dates (2022 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹6,122 Cr+16%
Net worth₹2,569 Cr+20%
Total borrowings₹228 Cr−36%
Cash & bank balances₹785 Cr+9%
Investments₹5 Cr+18%
Inventories₹36 Cr+0%
Trade receivables₹2,524 Cr+25%
Trade payables₹1,262 Cr+21%
Change vs the same date a year earlier.
Revenue mix FY26
Rest of the World52.2%result ₹585 Cr
India46.5%result ₹320 Cr
Un-allocable revenue1.3%result ₹82.4 Cr
Segment revenue as reported, before inter-segment eliminations.