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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	Q3 FY19	Q2 FY19	Q4 FY18
Revenue from operations	1,168	1,266	1,067	1,048	1,039	1,157	1,066	1,044	1,020	1,150	1,169	1,295	1,240	1,274	1,227	1,329	1,080	1,093	848	885	740	860	699	742	580	857	694	697	733	726	741	744
Other income	111	132	135	98.3	108	92.2	67.3	90.1	82	76.5	83.1	62.3	59.5	63.8	118	32.1	20.6	38.7	42.3	35.7	39.5	23.2	49.4	24.8	74.8	29.2	46	28.1	38.6	28.9	48.2	49.5
Total expenses	890	938	821	787	767	892	810	797	763	884	892	945	928	991	891	1,045	854	888	714	746	593	714	550	577	483	700	548	566	590	585	613	594
EBITDA	308	363	290	297	306	302	283	276	289	297	311	382	343	316	366	312	247	226	161	162	172	169	172	190	123	185	173	154	169	165	148	167
EBITDA margin	26.4%	28.6%	27.2%	28.3%	29.5%	26.1%	26.5%	26.4%	28.3%	25.9%	26.6%	29.5%	27.7%	24.8%	29.8%	23.5%	22.9%	20.7%	19.0%	18.3%	23.2%	19.7%	24.7%	25.6%	21.3%	21.6%	24.9%	22.1%	23.0%	22.7%	20.0%	22.4%
Finance costs	0.5	5.4	16.2	7.7	7.2	8.5	1	5.3	6.4	6.4	7.1	7.4	7.5	9.9	5.2	3.9	1.1	−0.2	2.5	0.8	0.7	0.7	1	1.2	1.4	1.4	1.3	1.5	1.4	2	1.7	2.9
Depreciation	29.1	28.8	28.2	28	27.7	27.9	26.2	23.6	25.4	24.5	27	24.5	24.2	23.2	24.4	24.6	20.8	21.3	24.9	21.8	24.2	22	23	23.3	25.1	26.9	25.2	22.2	23.6	21.6	18.1	14
Profit before tax	389	460	378	360	380	357	323	337	339	344	360	412	371	346	454	316	246	244	176	175	187	170	201	187	172	186	192	158	182	171	176	199
Tax	94.1	75.1	84.9	82.5	80.3	77.8	68.5	80.9	81.2	83.2	81.1	88.4	98.3	78.8	102	70.8	54.5	49.6	37.6	37.1	37.4	36.6	41.6	43.3	42.4	43.3	36	6.4	42.7	41.3	54.7	47.5
Net profit	301	393	293	277	305	285	259	256	259	260	280	324	273	268	352	245	191	194	139	138	149	133	160	143	129	142	156	152	140	129	122	152
Net margin	25.8%	31.1%	27.5%	26.5%	29.4%	24.7%	24.3%	24.6%	25.4%	22.6%	23.9%	25.0%	22.0%	21.0%	28.7%	18.4%	17.7%	17.7%	16.3%	15.6%	20.1%	15.5%	22.9%	19.3%	22.3%	16.6%	22.5%	21.8%	19.0%	17.8%	16.4%	20.4%
EPS (₹)	32.27	42.15	31.54	29.73	32.69	30.55	27.78	27.29	27.52	27.62	29.64	34.26	28.87	28.43	37.37	25.95	20.19	20.63	14.65	14.59	15.83	14.18	16.87	15.26	13.71	15.02	16.55	16.14	14.89	13.67	12.83	16.14
Net profit YoY	−1.4%	+37.8%	+13.2%	+8.2%	+17.6%	+9.5%	−7.5%	−20.9%	−4.8%	−2.7%	−20.6%	+32.3%	+42.3%	+38.0%	+154.5%	+77.5%	+28.4%	+45.7%	−13.3%	−3.8%	+15.3%	−6.5%	+2.2%	−5.6%	−7.3%	–	+21.0%	+25.1%	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY18
Revenue from operations	4,420	4,287	4,854	4,909	3,567	2,881	2,981	2,467
Other income	474	332	281	235	156	172	142	122
Total expenses	3,313	3,262	3,649	3,781	2,942	2,324	2,404	2,003
EBITDA	1,256	1,149	1,334	1,241	721	655	680	536
EBITDA margin	28.4%	26.8%	27.5%	25.3%	20.2%	22.7%	22.8%	21.7%
Finance costs	36.5	21.1	28.4	20.1	3.9	4.3	5.6	6.9
Depreciation	113	103	100	93	92.1	93.5	97.9	65.6
Profit before tax	1,578	1,357	1,488	1,362	781	730	719	585
Tax	323	308	351	306	162	164	128	141
Net profit	1,269	1,060	1,137	1,057	620	566	590	444
Net margin	28.7%	24.7%	23.4%	21.5%	17.4%	19.6%	19.8%	18.0%
EPS (₹)	136.11	113.14	120.40	111.95	65.70	60.02	62.59	47.00
Net profit YoY	+19.7%	−6.8%	+7.6%	+70.5%	+9.5%	−4.2%	–	–

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	592	1,162	903	868	−39.2
Investing cash flow	−124	−194	−819	−1,208	99.9
Financing cash flow	−660	−743	−211	395	−268
Capital expenditure	104	137	211	195	125
Free cash flow (CFO − capex)	487	1,025	692	673	−165

Net profit trend

annual, ₹ crore

FY21

₹566

FY22

₹620+10%

FY23

₹1,057+71%

FY24

₹1,137+8%

FY25

₹1,060−7%

FY26

₹1,269+20%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	12 Aug 2026	PDF on NSE XBRL
Q1 FY27	Standalone	12 Aug 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	26 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	26 May 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	30 Jan 2026	PDF on NSE XBRL
Q3 FY26	Standalone	30 Jan 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	7 Nov 2025	PDF XBRL
Q2 FY26	Standalone	7 Nov 2025	PDF XBRL
Q1 FY26	Consolidated	13 Aug 2025	PDF XBRL
Q1 FY26	Standalone	13 Aug 2025	PDF XBRL

Annual reports

NSE archive

FY2610.53 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 28.5×28.9×

P/B5Y avg 4.89×4.56×

ROEFY26, on average equity17.0%

Net margin28.7%

Debt / equity0.00×

Revenue CAGR (3Y)-3.4%

Profit CAGR (3Y)6.3%

EPS (TTM)₹135.53

Market cap₹36,576 Cr

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

P/B vs history

4.56×

vs 8-point avg 4.89× (−7%)

3.87× low4.89× avg6.32× high

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

Balance sheet 31 Mar 2026

Total assets₹8,538 Cr+9%

Net worth₹8,025 Cr+16%

Total borrowings₹0 Cr−100%

Cash & bank balances₹215 Cr−46%

Investments₹4,302 Cr+10%

Inventories₹1,256 Cr+24%

Trade receivables₹1,169 Cr+41%

Trade payables₹220 Cr+12%

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	58.50	58.50	58.50	58.50	58.50	58.50	58.50	58.50	58.47	58.47	58.47	58.47
FII	16.87	16.79	16.58	16.66	16.99	17.06	17.21	17.94	17.68	18.17	18.29	18.50
DII	22.10	22.03	22.26	22.19	22.03	22.04	21.85	20.84	20.95	20.54	20.47	20.30
of which MF	20.31	20.14	20.60	20.66	20.50	–	–	–	–	–	–	–
Retail	1.97	2.15	2.12	2.11	1.98	1.94	1.98	2.17	2.30	2.26	2.20	2.17
Other public	0.56	0.53	0.54	0.54	0.50	0.46	0.46	0.55	0.60	0.56	0.57	0.56

58,979 shareholders · NSE shareholding pattern filings.