Quarterly results
standalone · 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 | 785 | 742 | 634 | 602 | 688 | 705 | 658 | 599 | 566 | 625 | 622 | 615 | 558 | 680 | 567 | 513 | 522 | 432 | 639 | 546 | 416 | 633 | 541 | 426 | 252 | 461 | 489 | 470 | 439 | 809 | 736 | 623 | 542 | 661 |
| Other income | 9 | 53.3 | 3.6 | 4.7 | 33.5 | 37.2 | 15.5 | 11.9 | 10.2 | 7.8 | 3.2 | 4.7 | 8.5 | 18.7 | 3.1 | 2.4 | 1.8 | 21.3 | 5.9 | 19.9 | 3.8 | 5 | 6.1 | 12.9 | 3.9 | 7.1 | 5.1 | 4.1 | 4 | 21.4 | 1.8 | 5.1 | 1.6 | 6.3 |
| Total expenses | 665 | 643 | 538 | 505 | 603 | 616 | 553 | 515 | 492 | 543 | 535 | 545 | 482 | 566 | 501 | 468 | 469 | 396 | 599 | 520 | 403 | 582 | 497 | 406 | 282 | 461 | 470 | 453 | 421 | 770 | 699 | 622 | 541 | 638 |
| EBITDA | 175 | 153 | 151 | 150 | 142 | 154 | 169 | 154 | 136 | 148 | 150 | 134 | 132 | 177 | 110 | 85 | 90.4 | 71.5 | 89.6 | 70.9 | 60.9 | 96.7 | 94.6 | 64.4 | 24.5 | 54.3 | 69.3 | 73.6 | 73.9 | 113 | 107 | 51.4 | 44.1 | 74.6 |
| EBITDA margin | 22.3% | 20.6% | 23.7% | 24.9% | 20.7% | 21.9% | 25.7% | 25.7% | 24.1% | 23.7% | 24.1% | 21.8% | 23.6% | 26.0% | 19.3% | 16.6% | 17.3% | 16.6% | 14.0% | 13.0% | 14.6% | 15.3% | 17.5% | 15.1% | 9.7% | 11.8% | 14.2% | 15.7% | 16.8% | 14.0% | 14.6% | 8.3% | 8.1% | 11.3% |
| Finance costs | 9.9 | 9.4 | 10.6 | 10.9 | 17.1 | 21.3 | 19.8 | 23.3 | 20.3 | 25.1 | 20.7 | 23.3 | 17.9 | 25 | 13.1 | 10.6 | 8.3 | 8.1 | 15.5 | 16.8 | 16 | 14.9 | 18.6 | 19.1 | 19.2 | 18.4 | 17.5 | 18.8 | 18.8 | 32.3 | 27.6 | 16.4 | 11.2 | 20.3 |
| Depreciation | 44.7 | 44.2 | 43.8 | 42.5 | 40.7 | 44 | 44.3 | 47 | 41.9 | 41.8 | 41.7 | 41.1 | 36.8 | 37.7 | 30.3 | 29.8 | 28.8 | 27.5 | 34.8 | 27.4 | 31.5 | 30.1 | 31 | 24.8 | 35.5 | 35.5 | 32.3 | 38.3 | 36.9 | 42.4 | 42.6 | 34.4 | 31.6 | 32 |
| Profit before tax | 130 | 153 | 94.7 | 101 | 118 | 126 | 121 | 95.8 | 84.4 | 89.2 | 90.9 | 74.5 | 85.3 | 133 | 69.3 | 47 | 55.1 | 57.3 | 45.2 | 46.6 | 17.2 | 56.7 | 51.1 | 33.4 | −26.3 | 7.6 | 24.5 | 20.7 | 22.2 | 60.1 | 38.9 | 5.7 | 2.9 | 29.1 |
| Tax | 29.9 | 37.2 | 23 | 24.9 | 28.9 | 29.5 | 30.1 | 23.7 | 21.2 | 24.7 | 23.8 | 18.3 | 21.8 | 37 | 16 | 13 | −10.7 | 19.3 | 16.7 | 16.2 | 5.9 | 23.7 | 15.2 | −3.1 | −9 | 4.2 | 8.8 | 5.7 | 7.9 | 21.9 | 13.4 | 1 | 0.8 | 5.2 |
| Net profit | 99.6 | 116 | 71.6 | 76.1 | 88.9 | 96.6 | 90.5 | 72.1 | 63.2 | 64.6 | 67.1 | 56.1 | 63.5 | 109 | 53.1 | 34 | 65.8 | 128 | 28.5 | 30.4 | 11.3 | 33 | 35.9 | 36.5 | −17.4 | 3.4 | 15.7 | 15 | 14.3 | 38.2 | 25.5 | 4.7 | 2.1 | 23.9 |
| Net margin | 12.7% | 15.6% | 11.3% | 12.7% | 12.9% | 13.7% | 13.7% | 12.0% | 11.2% | 10.3% | 10.8% | 9.1% | 11.4% | 16.0% | 9.4% | 6.6% | 12.6% | 29.5% | 4.5% | 5.6% | 2.7% | 5.2% | 6.6% | 8.6% | -6.9% | 0.7% | 3.2% | 3.2% | 3.3% | 4.7% | 3.5% | 0.8% | 0.4% | 3.6% |
| EPS (₹) | 15.39 | 17.87 | 11.07 | 11.77 | 13.73 | 14.93 | 13.99 | 11.14 | 9.77 | 9.98 | 10.37 | 8.68 | 9.81 | 14.81 | 8.23 | 5.25 | 10.17 | 5.87 | 4.40 | 4.70 | 1.74 | 4.77 | 5.08 | 5.04 | -2.40 | 0.47 | 2.17 | 2.07 | 1.98 | 5.28 | 3.53 | 0.65 | 0.29 | 3.31 |
| Net profit YoY | +12.1% | +19.7% | −20.9% | +5.6% | +40.5% | +49.6% | +34.9% | +28.4% | −0.4% | −40.6% | +26.4% | +65.3% | −3.5% | −14.7% | +86.3% | +11.7% | +484.2% | +286.4% | −20.7% | −16.6% | +164.9% | +876.9% | +128.8% | +143.5% | −221.0% | −91.1% | −38.4% | +220.8% | +582.9% | +59.7% | – | – | – | – |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 2,665 | 2,529 | 2,421 | 2,281 | 1,430 | 1,853 | 1,859 | 2,710 | 2,285 |
| Other income | 95.1 | 74.8 | 24.2 | 26 | 42.9 | 28 | 20.3 | 29.9 | 9.7 |
| Total expenses | 2,289 | 2,177 | 2,105 | 2,003 | 1,294 | 1,766 | 1,804 | 2,632 | 2,182 |
| EBITDA | 595 | 614 | 564 | 462 | 264 | 280 | 271 | 316 | 272 |
| EBITDA margin | 22.3% | 24.3% | 23.3% | 20.2% | 18.5% | 15.1% | 14.6% | 11.7% | 11.9% |
| Finance costs | 48 | 84.7 | 87 | 57.1 | 28.1 | 71.9 | 73.5 | 87.5 | 55.8 |
| Depreciation | 171 | 177 | 161 | 126 | 100 | 121 | 143 | 151 | 114 |
| Profit before tax | 466 | 427 | 340 | 304 | 179 | 115 | 75 | 108 | 106 |
| Tax | 114 | 104 | 88.6 | 55.4 | 62.5 | 26.8 | 26.6 | 37.2 | 31 |
| Net profit | 352 | 322 | 251 | 262 | 193 | 88.1 | 48.4 | 70.5 | 74.8 |
| Net margin | 13.2% | 12.8% | 10.4% | 11.5% | 13.5% | 4.8% | 2.6% | 2.6% | 3.3% |
| EPS (₹) | 54.44 | 49.83 | 38.85 | 38.45 | 17.99 | 12.71 | 6.69 | 9.74 | 10.34 |
| Net profit YoY | +9.2% | +28.3% | −3.9% | +35.4% | +119.5% | +81.9% | −31.3% | −5.8% | – |
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 | 572 | 429 | 588 | 523 | 181 |
| Investing cash flow | −111 | −442 | −352 | 222 | −363 |
| Financing cash flow | −413 | −190 | −235 | −554 | 218 |
| Capital expenditure | 397 | 254 | 272 | 281 | 482 |
| Free cash flow (CFO − capex) | 175 | 175 | 316 | 242 | −302 |
Net profit trend
annual, ₹ croreFY21
₹88.1
FY22
₹193+119%
FY23
₹262+35%
FY24
₹251−4%
FY25
₹322+28%
FY26
₹352+9%
Result filings
as filed with NSE · PDF and XBRL| Period | Basis | Filed | Documents |
|---|---|---|---|
| Q1 FY27 | Consolidated | 28 Jul 2026 | PDF on NSE XBRL |
| Q1 FY27 | Standalone | 28 Jul 2026 | PDF on NSE XBRL |
| Q4 FY26 | Consolidated · audited | 27 Apr 2026 | PDF on NSE XBRL |
| Q4 FY26 | Standalone · audited | 27 Apr 2026 | PDF on NSE XBRL |
| Q3 FY26 | Consolidated | 29 Jan 2026 | PDF on NSE XBRL |
| Q3 FY26 | Consolidated | – | PDF on NSE XBRL |
| Q3 FY26 | Standalone | – | PDF on NSE XBRL |
| Q3 FY26 | Standalone | 29 Jan 2026 | PDF on NSE XBRL |
| Q2 FY26 | Consolidated | 18 Oct 2025 | PDF on NSE XBRL |
| Q2 FY26 | Standalone | 18 Oct 2025 | PDF on NSE XBRL |
Annual reports
NSE archiveKey ratios
P/E (TTM)5Y avg 12.6×14.3×
P/B5Y avg 2.26×2.16×
ROEFY26, on average equity15.6%
Net margin13.2%
Debt / equity0.10×
Revenue CAGR (3Y)5.3%
Profit CAGR (3Y)10.4%
EPS (TTM)₹56.10
Market cap₹5,198 Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
2.16×
vs 8-point avg 2.26× (−4%)
1.26× low2.26× avg3.42× high
History points are balance-sheet dates (2022 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹3,553 Cr+2%
Net worth₹2,408 Cr+15%
Total borrowings₹239 Cr−57%
Cash & bank balances₹76 Cr+174%
Investments₹100 Cr+184%
Inventories₹457 Cr+15%
Trade receivables₹394 Cr−0%
Trade payables₹172 Cr−51%
Change vs the same date a year earlier.
Revenue mix FY24
Packaging Products99.2%result ₹447 Cr
Investment Property0.8%result ₹13.5 Cr
Segment revenue as reported, before inter-segment eliminations.