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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	Q4 FY18
Revenue from operations	1,907	2,025	2,280	3,794	1,825	2,184	1,979	2,001	2,131	2,170	2,046	2,438	1,984	2,112	2,111	2,028	1,846	2,323	2,113	1,979	1,775	1,966	2,729	1,723	1,312	1,951	2,049	2,122	2,008	2,019	2,167	1,976	1,725
Other income	31.2	76.3	18.4	51.4	25	36.2	34.5	33.7	19	15.4	27.7	71.8	14.5	14.2	16.1	17.6	33.8	38.3	17.8	31.7	33.6	18.6	27.6	37.9	26.4	40.7	71	68.1	104	56.8	86	58.9	88.1
Total expenses	1,864	2,342	2,087	3,533	1,653	1,958	1,735	1,759	1,941	2,044	1,931	2,206	1,927	2,083	1,872	1,822	1,696	1,922	1,701	1,637	1,502	1,516	2,165	1,496	1,281	2,678	1,609	1,514	1,370	1,613	1,442	1,386	1,303
EBITDA	99.6	−255	256	398	239	298	321	323	271	210	209	333	159	152	344	297	236	507	474	403	334	562	632	293	108	−563	526	684	728	578	792	654	609
EBITDA margin	5.2%	-12.6%	11.2%	10.5%	13.1%	13.6%	16.2%	16.2%	12.7%	9.7%	10.2%	13.6%	8.0%	7.2%	16.3%	14.7%	12.8%	21.8%	22.4%	20.4%	18.8%	28.6%	23.1%	17.0%	8.2%	-28.8%	25.7%	32.2%	36.2%	28.6%	36.5%	33.1%	35.3%
Finance costs	13.2	14.9	9.2	20.7	7.7	8.1	10.8	8.3	5.5	6.9	18.3	23.4	23.4	39.6	13.1	9.7	8.1	38.1	3	2.2	1.9	49.1	2.1	1.3	4.5	86.4	20	18	20.5	114	5.5	5.5	127
Depreciation	43.5	47.3	53.7	116	59.1	63.9	65.8	73.2	75.6	77.2	76.1	77.2	78.5	83.3	91.3	81.6	77.8	67.7	59.4	59.8	59	62.7	65.2	65.1	71.9	77.8	65.6	58.3	69	56.8	61.5	58.8	59.4
Profit before tax	74.1	−241	202	312	197	262	198	286	180	114	82	184	0.7	−47	86.4	177	169	339	414	359	303	439	592	167	57.6	−800	511	505	742	442	811	648	511
Tax	−0.2	−137	46.9	92.4	53.5	73.4	34.2	76.9	54.2	102	28.8	54.4	−3.1	26	61.9	64.1	62.1	157	115	93	94.5	166	194	74	28.4	−37.2	162	92.1	215	149	248	262	281
Net profit	74.3	−104	155	220	144	188	164	209	118	13.4	58.5	123	−53.4	−196	24.3	113	107	182	299	266	209	272	398	93.4	29.3	−766	349	412	530	293	563	386	231
Net margin	3.9%	-5.1%	6.8%	5.8%	7.9%	8.6%	8.3%	10.5%	5.5%	0.6%	2.9%	5.0%	-2.7%	-9.3%	1.2%	5.6%	5.8%	7.8%	14.2%	13.4%	11.8%	13.9%	14.6%	5.4%	2.2%	-39.3%	17.0%	19.4%	26.4%	14.5%	26.0%	19.5%	13.4%
EPS (₹)	0.79	-1.08	1.62	2.29	1.50	1.96	1.70	2.18	1.31	0.12	0.56	1.35	0.04	-0.76	0.25	1.18	1.11	1.89	3.11	2.81	2.23	2.87	4.16	0.98	0.32	-7.98	3.64	4.30	5.52	3.04	5.86	4.03	2.41
Net profit YoY	−48.3%	−155.0%	−5.4%	+5.2%	+21.7%	+1311.2%	+179.5%	+70.3%	+321.1%	+106.8%	+140.7%	+8.9%	−150.1%	−207.8%	−91.9%	−57.6%	−48.9%	−33.2%	−24.9%	+184.9%	+613.0%	+135.6%	+14.2%	−77.3%	−94.5%	−361.8%	−38.1%	+6.7%	–	+26.8%	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Revenue from operations	8,099	8,294	8,637	8,088	8,189	7,730	8,130	7,934	6,686
Other income	146	123	129	79.7	121	110	284	251	440
Total expenses	7,962	7,393	8,107	7,364	6,762	6,458	7,170	5,736	4,943
EBITDA	399	1,212	911	1,107	1,718	1,594	1,375	2,563	2,069
EBITDA margin	4.9%	14.6%	10.5%	13.7%	21.0%	20.6%	16.9%	32.3%	31.0%
Finance costs	44.8	32.7	72.1	70.2	45.1	57.1	145	130	145
Depreciation	217	279	309	313	246	265	271	235	182
Profit before tax	273	926	381	468	1,415	1,256	959	2,449	2,317
Tax	2.3	239	182	217	460	463	432	854	841
Net profit	271	680	141	47.8	956	793	525	1,611	1,478
Net margin	3.3%	8.2%	1.6%	0.6%	11.7%	10.3%	6.5%	20.3%	22.1%
EPS (₹)	2.82	7.16	2.07	2.62	10.04	8.33	5.48	16.32	15.40
Net profit YoY	−60.1%	+380.4%	+195.9%	−95.0%	+20.5%	+51.2%	−67.4%	+9.0%	–

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	708	1,186	714	129	272
Investing cash flow	−299	−1,604	−47.4	−202	586
Financing cash flow	−339	22.8	−274	−408	−715
Capital expenditure	136	84.8	76	128	83.3
Free cash flow (CFO − capex)	572	1,101	638	1	188

Net profit trend

annual, ₹ crore

FY21

₹793

FY22

₹956+21%

FY23

₹47.8−95%

FY24

₹141+196%

FY25

₹680+380%

FY26

₹271−60%

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	19 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	19 May 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	22 Jan 2026	PDF on NSE XBRL
Q3 FY26	Standalone	22 Jan 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	–	PDF XBRL
Q2 FY26	Consolidated	16 Oct 2025	PDF XBRL
Q2 FY26	Standalone	–	PDF XBRL
Q2 FY26	Standalone	16 Oct 2025	PDF XBRL

Annual reports

NSE archive

FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17 FY16

Key ratios

P/E (TTM)5Y avg 140.1×21.4×

P/B5Y avg 1.41×0.63×

ROEFY26, on average equity2.3%

Net margin3.3%

Debt / equity0.02×

Revenue CAGR (3Y)0.0%

Profit CAGR (3Y)78.4%

EPS (TTM)₹3.60

Market cap₹7,387 Cr

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

P/B vs history

0.63×

vs 8-point avg 1.41× (−55%)

0.59× low1.41× avg2.36× high

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

Balance sheet 31 Mar 2026

Total assets₹14,216 Cr+4%

Net worth₹11,730 Cr+2%

Total borrowings₹178 Cr+11%

Cash & bank balances₹798 Cr+11%

Investments₹1,272 Cr+7%

Inventories₹6,512 Cr−4%

Trade receivables₹1,724 Cr+13%

Trade payables₹1,467 Cr

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	Sept 24	Jun 24	Mar 24	Dec 23	Sept 23
Promoter	3.99	3.99	3.99	3.99	3.99	3.99	3.99	3.99	3.99	3.99	3.99	3.99
FII	20.12	25.33	24.21	25.42	24.81	22.83	20.05	18.52	18.91	19.18	28.19	35.00
DII	7.92	10.90	12.10	14.03	16.86	16.01	17.99	19.19	22.51	35.56	43.59	42.23
of which MF	3.16	4.86	5.75	7.64	10.47	–	–	–	–	–	–	–
Retail	44.92	42.28	44.60	41.25	38.17	41.68	42.35	41.59	34.92	28.61	14.91	12.88
Other public	23.05	17.50	15.10	15.31	16.17	15.49	15.62	16.71	19.67	12.66	9.32	5.90

6,20,227 shareholders · NSE shareholding pattern filings.