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Quarterly results

consolidated · as filed with NSE · Q1 FY27 back to Q4 FY17

₹ 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	Q4 FY17
Revenue from operations	786	1,029	855	744	652	961	875	757	734	836	753	673	652	614	556	492	498	511	437	361	322	457	400	268	101	305	289	268	293	0	0
Other income	54.6	−6.1	35.7	29.3	51.1	8.4	30.2	34.2	27.6	20.9	23	17	16.2	3.1	7.7	6	24.9	5.4	4.9	2.3	2.4	7.6	3.5	1.8	2.4	−1.3	1.8	1.8	1.9	0	0
Total expenses	682	870	738	650	576	808	756	664	650	724	662	593	578	549	502	453	464	472	405	333	298	414	361	251	108	286	274	254	278	0	0
EBITDA	118	172	130	109	92.8	164	135	109	98.6	130	103	89.2	81.7	73.3	61.9	45	40.7	47.2	39.4	34.6	30.2	49.7	45.1	24.2	−0.1	27.2	22.4	20.2	21.7	0	0
EBITDA margin	15.0%	16.7%	15.2%	14.6%	14.2%	17.0%	15.4%	14.3%	13.4%	15.5%	13.6%	13.2%	12.5%	11.9%	11.1%	9.2%	8.2%	9.2%	9.0%	9.6%	9.4%	10.9%	11.3%	9.0%	-0.1%	8.9%	7.7%	7.5%	7.4%	–	–
Finance costs	4.9	3.4	4.7	5.9	8.2	3.9	8.4	9	7.3	10.7	5.5	3.8	3.1	3.4	3.1	2.1	2.2	4.3	3.4	3.3	2.7	3	2.5	3.5	3.3	4.1	4.2	3.4	3	0	0
Depreciation	9.1	9.5	8.9	8.8	8	7.3	7.2	7	6.9	6.7	5.9	5.4	5.2	5	4.4	4	4.7	4	4	3.8	3.7	3.5	3.5	3.5	3.4	3.7	3.2	3.1	3	0	0
Profit before tax	158	153	152	124	128	161	149	127	112	133	114	96.9	89.5	68	62	44.9	58.8	44.3	36.9	29.8	26.2	50.8	42.7	19.1	−4.4	18.1	16.8	15.6	17.6	0	0
Tax	38.9	42.5	35.5	33.6	30	42.3	37.8	31.9	27.8	34.7	26.1	23	22	20.9	15.3	11	13.5	8.9	9.5	6.9	6.9	12.2	11.7	4.5	−0.1	4.5	4.1	1.2	5.7	0	0
Net profit	119	111	116	90.1	97.7	119	112	94.8	84.2	98.5	88.2	73.9	67.6	47.2	46.7	33.9	45.3	35.4	27.4	22.9	19.3	38.6	30.9	14.6	−4.3	13.6	12.7	14.3	11.8	0	0
Net margin	15.2%	10.8%	13.6%	12.1%	15.0%	12.3%	12.8%	12.5%	11.5%	11.8%	11.7%	11.0%	10.4%	7.7%	8.4%	6.9%	9.1%	6.9%	6.3%	6.3%	6.0%	8.4%	7.7%	5.4%	-4.3%	4.5%	4.4%	5.3%	4.0%	–	–
EPS (₹)	10.04	9.32	9.78	7.57	8.21	9.97	9.38	7.97	7.07	8.27	7.41	6.21	5.67	4.00	3.90	2.85	3.65	2.97	2.30	2.01	1.70	3.40	2.72	1.29	-0.38	1.20	1.12	1.24	1.02	0.00	0.00
Net profit YoY	+22.3%	−6.5%	+4.2%	−5.0%	+16.1%	+20.4%	+26.6%	+28.2%	+24.6%	+108.8%	+89.0%	+118.4%	+49.3%	+33.1%	+70.7%	+47.8%	+134.4%	−8.2%	−11.5%	+56.9%	+549.3%	+183.5%	+143.0%	+2.0%	−136.3%	–	–	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY17
Revenue from operations	3,280	3,327	2,914	2,160	1,630	1,227	1,156	1,343	1,099
Other income	110	100	77.1	41.1	15	15.3	4.1	9.7	8
Total expenses	2,834	2,878	2,557	1,967	1,507	1,134	1,092	1,268	1,033
EBITDA	504	506	403	221	151	119	91.6	97.8	91.5
EBITDA margin	15.4%	15.2%	13.8%	10.2%	9.3%	9.7%	7.9%	7.3%	8.3%
Finance costs	22.1	28.7	23.2	10.3	13.8	12.2	14.7	11.5	13.5
Depreciation	35.2	28.3	23.2	18	15.4	13.9	13	11.8	11.9
Profit before tax	557	549	434	234	137	108	68	84.2	74
Tax	142	140	106	60.8	32.3	28.3	15.6	28.2	22
Net profit	415	409	328	173	105	79.8	52.5	56	52
Net margin	12.7%	12.3%	11.3%	8.0%	6.4%	6.5%	4.5%	4.2%	4.7%
EPS (₹)	34.88	34.39	27.56	14.41	9.02	7.03	4.57	4.78	4.55
Net profit YoY	+1.4%	+24.7%	+89.7%	+64.8%	+31.6%	+52.1%	−6.3%	–	–

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	417	412	433	274	109
Investing cash flow	−350	−383	−368	−218	−201
Financing cash flow	−51.9	−29	−38.7	−41	65.4
Capital expenditure	93.3	221	175	73.9	37.8
Free cash flow (CFO − capex)	324	191	258	200	71.2

Net profit trend

annual, ₹ crore

FY21

₹79.8

FY22

₹105+32%

FY23

₹173+65%

FY24

₹328+90%

FY25

₹409+25%

FY26

₹415+1%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	20 Jul 2026	PDF on NSE XBRL
Q1 FY27	Standalone	20 Jul 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	20 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	20 May 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	3 Feb 2026	PDF on NSE XBRL
Q3 FY26	Standalone	3 Feb 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	6 Nov 2025	PDF on NSE XBRL
Q2 FY26	Standalone	6 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

FY269.35 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 34.5×33.4×

P/B5Y avg 7.97×7.26×

ROEFY26, on average equity22.9%

Net margin12.7%

Debt / equity0.00×

Revenue CAGR (3Y)15.0%

Profit CAGR (3Y)33.9%

EPS (TTM)₹36.68

Market cap₹14,609 Cr

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

P/B vs history

7.26×

vs 8-point avg 7.97× (−9%)

4.00× low7.97× avg13.82× high

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

Balance sheet 31 Mar 2026

Total assets₹3,252 Cr+20%

Net worth₹2,011 Cr+25%

Total borrowings₹0 Cr−99%

Cash & bank balances₹64 Cr+32%

Investments₹1,283 Cr+40%

Inventories₹605 Cr+18%

Trade receivables₹284 Cr+7%

Trade payables₹917 Cr+13%

Change vs the same date a year earlier.

Revenue mix FY26

Cranes, Material Handling and Construction Equipment89.7%result ₹550 Cr

Agriculture Equipment8.0%result ₹2.5 Cr

Others2.3%result ₹19.6 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	65.42	65.42	65.42	65.42	65.41	65.41	65.41	65.41	65.41	66.76	66.76	66.76
FII	7.82	9.58	10.41	10.37	11.44	11.58	11.90	10.48	10.13	9.35	8.81	8.95
DII	2.59	1.84	1.76	1.82	2.05	1.97	1.75	1.62	1.80	2.21	2.62	2.79
of which MF	1.31	0.55	0.49	0.50	0.46	–	–	–	–	–	–	–
Retail	19.58	19.03	18.60	18.21	17.63	17.54	17.34	18.72	18.82	17.92	18.00	17.60
Other public	4.54	4.07	3.75	4.12	3.40	3.43	3.53	3.70	3.78	3.70	3.75	3.87

1,83,575 shareholders · NSE shareholding pattern filings.