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Quarterly results

consolidated · as filed with NSE · Q1 FY27 back to Q2 FY19

₹ 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	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
Revenue from operations	71.3	66.8	60.8	56.6	52.2	75.6	53.4	55.7	49.1	70.1	54.5	51	51.3	58.9	51.1	52.5	47.8	40.6	46.7	42.1	45.6	35.3	32.5	22.2	25.7	34	42.3	39.4	37	42.9	40.9
Other income	1.5	1.2	1.4	1.3	1.7	2.1	1.9	2.8	2	1.8	1.8	1.7	1.8	1.7	1.8	1	0.9	1.6	1.7	1.3	0.6	1.6	1	1.9	1.4	1	2.9	1.3	0.7	1.4	1.5
Total expenses	63.9	60.1	57.1	53.5	48.3	60.6	44.7	45.3	40.7	54.8	43.3	40.7	40.9	44.2	39.5	40	38.4	34.5	37.7	35.2	39.2	31.2	29.7	23.5	27.7	32	39.2	35.5	36.6	37.1	36.1
EBITDA	11	10.8	7.3	6.7	7.3	18.4	11	12.7	10.6	17.5	13.3	12.5	12.4	16.9	13.6	14.4	11.4	8.3	11.2	9.2	8.7	6.3	5	1	0.3	4.1	5.7	6.4	2.8	8.3	7.4
EBITDA margin	15.4%	16.1%	12.0%	11.8%	14.0%	24.3%	20.6%	22.8%	21.5%	25.0%	24.3%	24.4%	24.2%	28.7%	26.7%	27.4%	23.9%	20.3%	23.9%	21.8%	19.0%	17.9%	15.3%	4.3%	1.0%	12.2%	13.3%	16.3%	7.7%	19.5%	18.1%
Finance costs	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	3.6	4.1	3.6	3.6	3.4	3.3	2.3	2.3	2.2	2.3	2.1	2.1	2.1	2.2	2	1.9	2.1	2.1	2.2	2.3	2.2	2.2	2.2	2.3	2.2	2.2	2.5	2.5	2.5	2.6	2.6
Profit before tax	8.9	7.8	5	4.4	5.5	17.2	10.6	13.2	10.3	17.1	13	12	12.2	16.5	13.5	13.4	10.3	7.8	10.7	8.1	7	5.7	3.7	0.6	−0.6	3	6	5.2	1	7.2	6.3
Tax	2.8	2.8	2.1	1.7	1.8	4.3	2.4	2.5	2.6	3.7	3.4	3	3.1	3.7	3.4	3.4	2.8	2.2	2.7	2.1	1.7	1.4	0.9	0.2	0.2	0.8	1	1.6	1	1.7	1.7
Net profit	6.2	5.1	3	2.7	3.8	12.9	8.2	10.7	7.7	13.4	9.6	9	9	12.8	10.1	10	7.5	5.6	8	6	5.3	4.3	2.8	0.4	−0.8	2.2	5	3.6	0	5.4	4.6
Net margin	8.7%	7.6%	4.9%	4.8%	7.2%	17.1%	15.4%	19.2%	15.7%	19.1%	17.6%	17.5%	17.6%	21.7%	19.7%	19.1%	15.6%	13.7%	17.2%	14.2%	11.6%	12.1%	8.6%	1.8%	-3.0%	6.5%	11.8%	9.1%	0.0%	12.7%	11.2%
EPS (₹)	30.90	25.45	14.90	13.47	18.93	64.45	41.10	53.45	38.43	66.93	47.96	44.75	45.13	63.96	50.31	50.00	37.34	27.82	40.19	29.99	26.46	21.35	13.98	2.04	-3.87	10.99	25.06	17.95	0.01	27.23	22.98
Net profit YoY	+63.5%	−60.5%	−63.7%	−74.7%	−50.8%	−3.7%	−14.4%	+19.4%	−14.9%	+4.6%	−4.7%	−10.5%	–	+71.2%	+81.1%	+24.4%	+40.9%	+30.2%	+188.2%	+1363.4%	+788.3%	+94.1%	−44.3%	−88.6%	−7800.0%	−59.6%	+8.9%	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19
Revenue from operations	236	234	227	210	179	137	141	165
Other income	5.5	8.8	7.1	5	3.9	4	7.5	2.4
Total expenses	219	191	180	162	146	124	134	145
EBITDA	32	52.6	55.6	56.2	41.7	22	15.7	29.8
EBITDA margin	13.6%	22.5%	24.5%	26.7%	23.3%	16.1%	11.1%	18.1%
Finance costs	0	0.1	0	0	0	0	0	0
Depreciation	14.7	10.1	8.6	8.1	8.6	8.9	9.5	10.3
Profit before tax	22.8	51.2	54.2	53	36.9	17	13.6	21.9
Tax	8.3	11.8	13.3	12.9	9.8	4.2	3.6	6.5
Net profit	14.6	39.5	41	40.1	27.1	12.8	10	15.4
Net margin	6.2%	16.9%	18.1%	19.1%	15.1%	9.3%	7.1%	9.4%
EPS (₹)	72.75	197.43	204.77	200.45	135.34	63.83	50.13	77.07
Net profit YoY	−63.1%	−3.6%	+2.1%	+48.1%	+112.0%	+27.3%	−35.0%	–

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	21.9	33.6	29.8	33	36.9
Investing cash flow	−5.2	−25.6	−8.4	−17.9	−29.7
Financing cash flow	−9.4	−9	−16	−16	−8
Capital expenditure	13	19.4	16.3	9.8	4.9
Free cash flow (CFO − capex)	8.9	14.2	13.5	23.2	32

Net profit trend

annual, ₹ crore

FY21

₹12.8

FY22

₹27.1+112%

FY23

₹40.1+48%

FY24

₹41+2%

FY25

₹39.5−4%

FY26

₹14.6−63%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	24 Jul 2026	PDF on NSE XBRL
Q1 FY27	Standalone	24 Jul 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	24 Apr 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	24 Apr 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	21 Jan 2026	PDF on NSE XBRL
Q3 FY26	Standalone	21 Jan 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	17 Oct 2025	PDF on NSE XBRL
Q2 FY26	Standalone	17 Oct 2025	PDF on NSE XBRL
Q1 FY26	Consolidated	21 Jul 2025	PDF on NSE XBRL
Q1 FY26	Standalone	21 Jul 2025	PDF on NSE XBRL

Annual reports

NSE archive

FY2624.94 MB FY25 FY24 FY23 FY22 FY21 FY20 FY18 FY17 FY16

Key ratios

P/E (TTM)5Y avg 55.9×102.0×

P/B5Y avg 9.38×6.81×

ROEFY26, on average equity5.8%

Net margin6.2%

Debt / equity0.00×

Revenue CAGR (3Y)4.0%

Profit CAGR (3Y)-28.7%

EPS (TTM)₹84.75

Market cap₹1,729 Cr

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

P/B vs history

6.81×

vs 8-point avg 9.38× (−27%)

4.67× low9.38× avg14.99× high

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

Balance sheet 31 Mar 2026

Total assets₹306 Cr+2%

Net worth₹254 Cr+4%

Total borrowings₹0 Cr−100%

Cash & bank balances₹28 Cr+53%

Investments₹47 Cr−8%

Inventories₹53 Cr+42%

Trade receivables₹54 Cr−21%

Trade payables₹33 Cr+5%

Change vs the same date a year earlier.

Revenue mix FY26

Super Abrasives63.5%result ₹28.4 Cr

Machines and Accessories14.5%result ₹−13.6 Cr

Precision Products12.8%result ₹1.5 Cr

Others9.2%result ₹2.2 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	37.50	37.50	37.50	37.50	37.50	75.00	75.00	75.00	75.00	75.00	75.00	75.00
FII	1.16	1.00	1.12	1.81	2.34	0.09	0.04	0.04	0.04	0.05	0.02	0.01
DII	11.97	12.76	9.83	9.64	9.17	6.71	6.73	6.73	6.79	6.79	6.83	6.82
of which MF	10.94	10.76	8.09	7.88	7.88	–	–	–	–	–	–	–
Retail	41.15	40.92	43.38	42.00	41.27	16.14	16.20	16.21	16.21	16.32	16.29	16.24
Other public	8.22	7.82	8.17	9.05	9.72	2.06	2.03	2.02	1.96	1.84	1.86	1.93

26,857 shareholders · NSE shareholding pattern filings.