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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	Q1 FY20	Q4 FY19	Q3 FY19	Q2 FY19	Q1 FY19	Q4 FY18
Revenue from operations	929	965	888	782	738	743	721	809	739	700	701	753	644	678	699	679	595	655	854	862	860	632	764	714	598	687	869	802	863	979	1,046	1,126	1,008	1,018
Other income	31	45	25	21	20	15	8	9	30	54	8	24	14	32	2	57	57	14	2.1	5.2	1.7	7.5	101	16.2	8	13.7	17.2	−0.2	8.1	5.4	2.1	6.1	7.4	−8.4
Total expenses	844	843	836	712	770	780	708	827	775	934	796	812	762	807	803	771	748	833	885	896	867	818	833	815	800	796	870	873	949	1,033	1,169	1,164	1,115	1,128
EBITDA	192	225	177	178	72	64	128	110	91	−103	37	72	16	3	45	43	−16	−33	111	95.8	121	−66.1	58.4	16.7	−72.1	13.5	134	47.7	39.9	55.6	−17.8	67.4	4.5	−6.1
EBITDA margin	20.7%	23.3%	19.9%	22.8%	9.8%	8.6%	17.8%	13.6%	12.3%	-14.7%	5.3%	9.6%	2.5%	0.4%	6.4%	6.3%	-2.7%	-5.0%	13.1%	11.1%	14.1%	-10.5%	7.6%	2.3%	-12.0%	2.0%	15.4%	5.9%	4.6%	5.7%	-1.7%	6.0%	0.4%	-0.6%
Finance costs	52	50	60	55	48	48	60	73	73	73	77	76	79	76	83	70	73	86	80.1	69.1	64.1	54.6	59.9	60.9	73.7	61.4	78.7	64.6	70.9	63.5	63.6	65.1	72.7	65
Depreciation	55	53	65	53	56	53	55	55	54	58	55	55	55	56	66	65	64	59	62	61.2	64.3	65	67.9	57.2	56	60.9	56.3	53.4	55	45.4	41.2	40.2	39.2	38.2
Profit before tax	116	189	67	91	−109	−22	21	−9	−6	−180	−87	−35	−118	−193	−105	−230	−96	−347	−28.6	−29.2	−6	−178	31.2	−85.1	−336	−95.1	16.4	−70.6	−77.9	−48	−121	−31.8	−99.9	−118
Tax	9	25	6	9	−1	23	1	7	10	−3	−1	38	18	44	−3	−23	−21	−36	−30.3	−66.4	0.6	−71.3	−1.2	−88.4	−111	−144	−2.8	23.7	−41	−34.1	−43.7	−1	−4.9	35.2
Net profit	107	164	61	82	−108	−45	20	−16	−16	−177	−86	−73	−136	−237	−102	−207	−75	−311	1.8	37.2	−6.6	−107	32.4	3.3	760	68.5	19.2	−94.2	−36.9	−13.9	−76.9	−30.8	−95.1	−153
Net margin	11.5%	17.0%	6.9%	10.5%	-14.6%	-6.1%	2.8%	-2.0%	-2.2%	-25.3%	-12.3%	-9.7%	-21.1%	-35.0%	-14.6%	-30.5%	-12.6%	-47.5%	0.2%	4.3%	-0.8%	-16.9%	4.2%	0.5%	127.0%	10.0%	2.2%	-11.7%	-4.3%	-1.4%	-7.3%	-2.7%	-9.4%	-15.0%
EPS (₹)	6.55	10.23	3.61	4.81	-5.53	-1.57	0.91	-1.47	-0.95	-11.64	-5.75	-5.37	-9.28	-14.37	-6.62	-13.15	-4.64	-21.20	-0.61	3.03	-1.15	-8.38	1.38	0.32	-20.34	2.57	0.87	-7.42	-4.06	-1.31	-6.42	-2.06	-7.79	-13.97
Net profit YoY	+199.1%	+464.4%	+205.0%	+612.5%	−575.0%	+74.6%	+123.3%	+78.1%	+88.2%	+25.3%	+15.7%	+64.7%	−81.3%	+23.8%	−5862.7%	−656.9%	−1039.8%	−191.1%	−94.5%	+1029.8%	−100.9%	−255.9%	+68.7%	+103.5%	+2160.1%	+592.9%	+125.0%	−205.6%	+61.2%	+90.9%	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Revenue from operations	3,373	3,012	2,798	2,651	3,230	2,708	2,844	4,158	3,937
Other income	111	62	83	122	20	132	38.8	21	120
Total expenses	3,161	3,090	3,287	3,103	3,478	3,266	3,225	4,480	4,340
EBITDA	652	393	39	101	298	−63	119	110	1.8
EBITDA margin	19.3%	13.0%	1.4%	3.8%	9.2%	-2.3%	4.2%	2.6%	0.0%
Finance costs	213	254	305	302	299	249	276	265	255
Depreciation	227	217	223	251	247	246	224	166	150
Profit before tax	238	−16	−420	−624	−411	−568	−342	−300	−641
Tax	39	41	52	−3	−132	−272	−204	−83.7	25.7
Net profit	199	−57	−472	−621	−279	689	−43.4	−217	−667
Net margin	5.9%	-1.9%	-16.9%	-23.4%	-8.6%	25.4%	-1.5%	-5.2%	-16.9%
EPS (₹)	13.12	-3.02	-32.05	-38.79	-20.24	-27.02	-14.79	-17.58	-55.01
Net profit YoY	+449.1%	+87.9%	+24.0%	−122.6%	−140.5%	+1687.0%	+80.0%	+67.5%	–

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	390	−22	219	153	413
Investing cash flow	−241	−783	−137	−125	−201
Financing cash flow	−54	409	334	−315	−71
Capital expenditure	136	94	59	42	118
Free cash flow (CFO − capex)	254	−116	160	111	295

Net profit trend

annual, ₹ crore

FY21

₹689

FY22

₹−279−141%

FY23

₹−621−123%

FY24

₹−472+24%

FY25

₹−57+88%

FY26

₹199+449%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	10 Aug 2026	PDF on NSE XBRL
Q1 FY27	Standalone	10 Aug 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	4 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	4 May 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	10 Feb 2026	PDF on NSE XBRL
Q3 FY26	Standalone	10 Feb 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	3 Nov 2025	PDF on NSE XBRL
Q2 FY26	Standalone	3 Nov 2025	PDF on NSE XBRL
Q1 FY26	Consolidated	8 Aug 2025	PDF on NSE XBRL
Q1 FY26	Standalone	8 Aug 2025	PDF on NSE XBRL

Annual reports

NSE archive

FY266.68 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)88.7×

P/B7.43×

ROEFY26, on average equity4.3%

Net margin5.9%

Debt / equity0.43×

Revenue CAGR (3Y)8.4%

Profit CAGR (3Y)–

EPS (TTM)₹25.56

Market cap₹36,703 Cr

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

Balance sheet 31 Mar 2026

Total assets₹8,615 Cr+6%

Net worth₹4,940 Cr+13%

Total borrowings₹2,125 Cr+14%

Cash & bank balances₹217 Cr+94%

Investments₹412 Cr−2%

Inventories₹887 Cr+22%

Trade receivables₹588 Cr−11%

Trade payables₹563 Cr−5%

Change vs the same date a year earlier.

Shareholding 30 Jun 2026

%	Jun 26	Mar 26	Dec 25	Sept 25	Jun 25	Mar 25	Dec 24	Nov 24	Sept 24	Jun 24	Mar 24	Mar 24
Promoter	49.08	49.08	49.08	49.08	49.09	49.09	49.09	49.09	51.99	51.99	51.60	51.60
FII	7.22	7.09	6.99	7.10	7.29	6.81	6.54	6.62	6.70	5.93	5.49	5.59
DII	9.24	10.96	10.55	11.01	11.01	10.59	9.82	9.88	5.09	4.45	4.83	4.83
of which MF	6.79	8.12	7.76	7.89	8.02	–	–	–	–	–	–	–
Retail	27.31	25.90	26.52	26.10	26.04	26.70	27.49	27.45	29.02	30.18	29.93	29.85
Other public	7.15	6.97	6.86	6.71	6.57	6.81	7.06	6.96	7.20	7.45	8.15	8.13

1,66,518 shareholders · NSE shareholding pattern filings.