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 | 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 | Q4 FY18 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 312 | 284 | 263 | 241 | 257 | 272 | 237 | 226 | 262 | 116 | 269 | 191 | 282 | 252 | 187 | 234 | 256 | 126 | 167 | 173 | 285 | 168 | 202 | 180 | 321 | 156 | 142 | 152 | 0 | 0 |
| Other income | 15.6 | 16 | 38.9 | 45.3 | 10.2 | 16.9 | 39.9 | 16.3 | 21.4 | 79.5 | 46.5 | 82 | 60.5 | 29.1 | 58.9 | 33.8 | 79.7 | 28.6 | 59 | 58.2 | 47.9 | 50.6 | 27.5 | 22.7 | 50.7 | 24.3 | 29.5 | 20.3 | 0 | 0 |
| Total expenses | 367 | 311 | 334 | 299 | 303 | 312 | 311 | 277 | 216 | 211 | 363 | 311 | 306 | 328 | 268 | 301 | 291 | 185 | 238 | 281 | 291 | 207 | 278 | 235 | 332 | 211 | 222 | 184 | 0 | 0 |
| EBITDA | 14.2 | 42.3 | −7.7 | 10.8 | 25.2 | 27.6 | 4 | 24.7 | 121 | −16.9 | −13.4 | −45.1 | 49.1 | −6.3 | −14.9 | −0 | 41.6 | −0.5 | −11.5 | −17.5 | 55 | 21.1 | −21.1 | −1 | 50 | −9.9 | −37.6 | 5.9 | 0 | 0 |
| EBITDA margin | 4.5% | 14.9% | -2.9% | 4.5% | 9.8% | 10.1% | 1.7% | 10.9% | 46.1% | -14.6% | -5.0% | -23.6% | 17.4% | -2.5% | -8.0% | -0.0% | 16.2% | -0.4% | -6.9% | -10.1% | 19.3% | 12.6% | -10.5% | -0.5% | 15.6% | -6.3% | -26.4% | 3.9% | – | – |
| Finance costs | 61.5 | 62 | 56.2 | 61.5 | 63 | 59 | 70.8 | 68.9 | 67.6 | 71.9 | 73.8 | 68.6 | 67.3 | 61.5 | 59.3 | 60.3 | 72.8 | 52.6 | 53.8 | 83.7 | 54.3 | 53.1 | 47.1 | 47.1 | 53.5 | 39 | 35.9 | 31.8 | 0 | 0 |
| Depreciation | 8 | 7.7 | 7.7 | 7.3 | 7.4 | 7.8 | 7 | 6.8 | 6.9 | 6.9 | 6.9 | 6.6 | 6 | 7.9 | 6.8 | 6.6 | 3.2 | 6.6 | 6.2 | 6.6 | 7.2 | 7.3 | 7.5 | 7.3 | 7.5 | 6.4 | 5.9 | 5.8 | 0 | 0 |
| Profit before tax | −34.9 | −7.5 | −38.9 | −19.7 | −35 | −22.3 | −53.8 | −34.7 | 45.6 | 797 | −47.6 | −38.4 | 36.3 | −46.6 | −22.2 | −33.2 | 45.3 | −31.1 | −12.4 | −49.6 | 31.7 | 1.2 | −48.2 | −32.7 | 36.3 | −31 | −49.9 | −11.4 | 0 | 0 |
| Tax | −0.6 | 12 | 1.7 | 2.7 | 0.1 | 6.1 | −0.2 | −0.7 | −2 | 74.1 | −0.7 | 3 | 16.9 | −19.5 | 13.1 | −1.8 | 9.9 | −4.1 | −0.3 | −15.2 | 5.4 | 4 | −8.7 | −15.9 | 82.9 | 1.6 | −14.6 | 1.1 | 0 | 0 |
| Net profit | 0.1 | −31.6 | −26.4 | 164 | −0.5 | −20.8 | −14.8 | −33.6 | 63.4 | 728 | −33.1 | −48.6 | 101 | −4 | −44.8 | 253 | 35.3 | −48.4 | 16.5 | −37.4 | 15.6 | −20.4 | −43.6 | −52.2 | −152 | −75.5 | −114 | −54.5 | 0 | 0 |
| Net margin | 0.0% | -11.1% | -10.1% | 68.1% | -0.2% | -7.6% | -6.2% | -14.9% | 24.2% | 628.9% | -12.3% | -25.5% | 35.8% | -1.6% | -24.0% | 108.0% | 13.8% | -38.5% | 9.9% | -21.6% | 5.5% | -12.2% | -21.6% | -29.0% | -47.3% | -48.4% | -80.2% | -35.9% | – | – |
| EPS (₹) | 0.20 | -10.41 | -8.69 | 55.34 | 0.02 | -6.96 | -4.84 | -11.20 | 21.35 | 244.51 | -11.00 | -16.20 | 33.99 | -1.26 | -14.92 | 84.97 | 11.90 | -14.52 | 7.74 | -9.16 | 4.03 | -6.17 | -13.32 | -16.12 | -46.11 | -24.49 | -35.49 | -18.54 | 0.00 | 0.00 |
| Net profit YoY | +110.7% | −52.3% | – | +1211.9% | +98.6% | −132.7% | +55.4% | +30.9% | −37.3% | +18358.7% | +26.0% | −119.2% | +186.8% | +91.8% | −370.5% | +775.3% | +125.6% | −136.9% | +138.0% | +28.3% | +110.3% | +73.0% | +61.8% | +4.3% | – | – | – | – | – | – |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 1,045 | 970 | 838 | 955 | 722 | 834 | 771 | 774 | 553 |
| Other income | 110 | 112 | 229 | 182 | 225 | 149 | 125 | 99.8 | 72.8 |
| Total expenses | 1,247 | 1,212 | 1,095 | 1,203 | 997 | 1,009 | 948 | 927 | 700 |
| EBITDA | 70.7 | 49.1 | 51.8 | 27.8 | 12.2 | 55.9 | 8.5 | −18.4 | −35.1 |
| EBITDA margin | 6.8% | 5.1% | 6.2% | 2.9% | 1.7% | 6.7% | 1.1% | -2.4% | -6.3% |
| Finance costs | 243 | 262 | 282 | 248 | 264 | 202 | 160 | 113 | 92.1 |
| Depreciation | 30.1 | 28.9 | 27.4 | 27.4 | 22.7 | 29.3 | 25.5 | 20.9 | 20 |
| Profit before tax | −101 | −149 | 757 | −65.7 | −49.4 | −48 | −56 | −52.7 | −74.4 |
| Tax | 16.5 | 6.8 | 71.2 | 8.6 | −9.8 | −15.1 | 71 | −17.4 | 4 |
| Net profit | 106 | −94.4 | 713 | 305 | −34.8 | −101 | −396 | −110 | −38.1 |
| Net margin | 10.1% | -9.7% | 85.1% | 31.9% | -4.8% | -12.1% | -51.3% | -14.2% | -6.9% |
| EPS (₹) | 36.25 | -31.30 | 239.72 | 102.84 | -11.95 | -31.58 | -124.64 | -30.79 | -9.54 |
| Net profit YoY | +212.1% | −113.2% | +133.6% | +977.4% | +65.4% | +74.6% | −260.3% | −188.4% | – |
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 | 144 | −1.3 | 71.5 | 16 | 61.5 |
| Investing cash flow | 19.6 | 183 | 475 | 94.6 | 69.3 |
| Financing cash flow | −175 | −163 | −583 | −88.6 | −86.9 |
| Capital expenditure | 25.7 | 14.7 | 13.8 | 17.5 | 20.8 |
| Free cash flow (CFO − capex) | 118 | −16 | 57.7 | −1.5 | 40.7 |
Net profit trend
annual, ₹ croreFY21
₹−101
FY22
₹−34.8+65%
FY23
₹305+977%
FY24
₹713+134%
FY25
₹−94.4−113%
FY26
₹106+212%
Result filings
as filed with NSE · PDF and XBRL| Period | Basis | Filed | Documents |
|---|---|---|---|
| Q1 FY27 | Consolidated | 13 Aug 2026 | PDF XBRL |
| Q1 FY27 | Standalone | 13 Aug 2026 | PDF XBRL |
| Q4 FY26 | Consolidated · audited | 25 May 2026 | PDF XBRL |
| Q4 FY26 | Standalone · audited | 25 May 2026 | PDF XBRL |
| Q3 FY26 | Consolidated | 13 Feb 2026 | PDF XBRL |
| Q3 FY26 | Standalone | 13 Feb 2026 | PDF XBRL |
| Q2 FY26 | Consolidated | 12 Nov 2025 | PDF XBRL |
| Q2 FY26 | Standalone | 12 Nov 2025 | PDF XBRL |
| Q1 FY26 | Consolidated | 12 Aug 2025 | PDF XBRL |
| Q1 FY26 | Standalone | 12 Aug 2025 | PDF XBRL |
Annual reports
NSE archiveKey ratios
P/E (TTM)5Y avg 2.8×8.1×
P/B5Y avg 0.19×0.24×
ROEFY26, on average equity2.4%
Net margin10.1%
Debt / equity0.72×
Revenue CAGR (3Y)3.0%
Profit CAGR (3Y)-29.8%
EPS (TTM)₹35.70
Market cap₹864 Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
0.24×
vs 8-point avg 0.19× (+27%)
0.14× low0.19× avg0.25× high
History points are balance-sheet dates (2022 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹7,164 Cr−20%
Net worth₹3,621 Cr−28%
Total borrowings₹2,598 Cr+4%
Cash & bank balances₹62 Cr−16%
Investments₹3,139 Cr−33%
Inventories₹772 Cr+6%
Trade receivables₹66 Cr+3%
Trade payables₹181 Cr+1%
Change vs the same date a year earlier.
Revenue mix FY26
a) Sugar and allied products63.1%result ₹76 Cr
c) Ethanol Plant17.3%result ₹11.2 Cr
b) Power6.8%result ₹−11.5 Cr
g) Engineering services6.2%result ₹3.7 Cr
e) Management services2.7%result ₹−5.6 Cr
f) Financial services2.1%result ₹10.2 Cr
d) Real estate1.8%result ₹−25.5 Cr
h) Furniture0.1%result ₹−7.2 Cr
Segment revenue as reported, before inter-segment eliminations.