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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	Q3 FY19	Q2 FY19	Q1 FY19	Q4 FY17
Revenue from operations	317	431	182	219	259	151	193	200	194	232	207	145	116	114	79.1	185	52.3	181	69.1	98.5	135	78.7	121	108	39.6	94.3	48.9	106	109	110	39.3	114
Other income	2.6	2.8	1.8	2	1.1	2.3	6.2	4.2	2.4	2.3	1.8	2.3	1.5	3.6	1.5	1.7	2.8	3.1	1.1	1.6	0.7	1.1	1.8	1.6	0.6	4.2	0.9	0.3	1.9	2.8	0.8	12.2
Total expenses	258	347	141	179	202	121	155	158	153	194	168	118	88.4	98.4	65.2	141	39.6	164	57.2	85.2	121	63.6	112	97.7	37.4	91.4	41.8	92.9	87.9	93.1	24.1	86
EBITDA	91.3	107	55.2	58	78.2	43.4	62.6	60.4	64.3	66.3	60	37.7	37.2	31	22	56	15.5	39.6	20	23.2	33.4	25.1	30	27.6	12.7	17.8	16.8	37.1	39.9	32.8	20.2	41.8
EBITDA margin	28.8%	24.8%	30.4%	26.5%	30.3%	28.6%	32.5%	30.2%	33.2%	28.6%	29.0%	26.0%	32.1%	27.2%	27.8%	30.2%	29.5%	21.9%	28.9%	23.5%	24.8%	31.8%	24.8%	25.7%	32.2%	18.9%	34.3%	34.9%	36.5%	29.7%	51.3%	36.5%
Finance costs	30.5	21.8	13.6	16.6	21	11.7	23.5	17.5	22.9	28.3	20.5	10.4	9.3	14.7	7.7	11.4	2.5	22.7	7.8	9.5	19.2	9.5	21	17.1	10.1	14.2	9.2	23.2	17.8	14.9	4.4	12.7
Depreciation	1.6	1.3	1.1	0.9	1.1	1	0.7	0.5	0.9	0.5	0.7	0.3	0.3	0.5	0.3	0.4	0.3	0.5	0.3	0.4	0.4	0.5	0.4	0.5	0.4	0.7	0.5	0.5	0.6	0.6	0.5	0.5
Profit before tax	61.7	86.8	42.2	42.5	57.2	33	44.6	46.5	42.9	39.8	40.6	29.3	29.2	19.4	15.4	45.9	15.5	19.6	12.9	14.9	14.4	16.2	10.4	11.7	2.8	7.1	8	13.7	23.4	20	16.1	40.8
Tax	17.1	28.4	14	11.6	17.8	8.8	11.4	10.2	10.2	10.3	10.7	6.3	7.6	4.6	4.5	11.6	3.9	4.9	3.3	3.4	3.8	3.3	2.5	3.1	0.7	2.8	1.5	1.9	4.5	3.7	3.3	8
Net profit	44.9	55.6	27.9	31.2	38.3	25.3	33.2	36.3	31.4	28.8	30	22.9	21.1	15.1	10.9	34.3	11.6	14	9.6	11.5	10.3	12.5	7.9	7.7	2.1	4.1	6.4	11.9	18.9	16.2	12.4	32.7
Net margin	14.2%	12.9%	15.3%	14.3%	14.8%	16.7%	17.2%	18.1%	16.2%	12.4%	14.5%	15.8%	18.2%	13.2%	13.8%	18.5%	22.1%	7.8%	13.9%	11.6%	7.6%	15.9%	6.6%	7.2%	5.3%	4.3%	13.2%	11.2%	17.3%	14.7%	31.5%	28.5%
EPS (₹)	2.19	2.83	1.30	7.72	9.73	6.42	9.05	9.77	8.86	8.14	8.59	6.26	5.94	4.32	3.00	9.65	3.26	3.90	2.74	3.22	2.89	3.72	2.23	2.17	0.59	1.10	1.82	3.35	5.32	4.57	3.49	9.34
Net profit YoY	+17.4%	+119.9%	−16.0%	−13.9%	+21.8%	−12.1%	+10.7%	+58.3%	+49.2%	+90.4%	+174.8%	−33.1%	+82.1%	+7.9%	+13.2%	+199.6%	+12.8%	+12.3%	+21.4%	+48.5%	+388.6%	+205.9%	+23.1%	−35.2%	–	–	−65.9%	−26.7%	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY17
Revenue from operations	1,090	738	700	431	483	347	344	370
Other income	7.7	15.1	7.9	9.5	6.4	5.1	6.2	17.2
Total expenses	869	586	569	344	427	311	308	280
EBITDA	298	231	201	124	116	95.4	104	138
EBITDA margin	27.4%	31.3%	28.7%	28.9%	24.1%	27.5%	30.3%	37.4%
Finance costs	73.1	75.7	68.5	36.3	59.2	57.7	65.9	46.3
Depreciation	4.4	3.1	1.7	1.5	1.7	1.8	2.2	2.8
Profit before tax	229	167	139	96.2	61.7	41	42.7	106
Tax	71.8	40.7	34.9	24.6	15.4	9.5	9.7	22
Net profit	150	126	103	71.5	45.4	30.2	32.7	82.3
Net margin	13.7%	17.1%	14.7%	16.6%	9.4%	8.7%	9.5%	22.3%
EPS (₹)	7.61	34.01	28.94	20.22	12.75	8.71	9.17	23.33
Net profit YoY	+18.9%	+22.5%	+43.8%	+57.5%	+50.4%	−7.7%	–	–

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	68.4	7.5	220	−35.6	−151
Investing cash flow	−48.3	2.9	−71.8	−4.8	33.3
Financing cash flow	−55.9	−15.4	−97.3	44.3	152
Capital expenditure	28.8	0	2.7	0	−2.4
Free cash flow (CFO − capex)	39.6	7.5	217	−35.6	−154

Net profit trend

annual, ₹ crore

FY21

₹30.2

FY22

₹45.4+50%

FY23

₹71.5+58%

FY24

₹103+44%

FY25

₹126+22%

FY26

₹150+19%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	4 Aug 2026	PDF on NSE XBRL
Q1 FY27	Standalone	4 Aug 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	–	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	–	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	25 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	–	PDF on NSE XBRL
Q4 FY26	Standalone · audited	25 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	–	PDF on NSE XBRL
Q3 FY26	Consolidated	29 Jan 2026	PDF on NSE XBRL
Q3 FY26	Standalone	29 Jan 2026	PDF on NSE XBRL

Annual reports

NSE archive

FY266.73 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 20.3×14.9×

P/B5Y avg 2.21×1.70×

ROEFY26, on average equity11.5%

Net margin13.7%

Debt / equity0.51×

Revenue CAGR (3Y)36.2%

Profit CAGR (3Y)28.0%

EPS (TTM)₹8.11

Market cap₹2,378 Cr

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

P/B vs history

1.70×

vs 8-point avg 2.21× (−23%)

1.24× low2.21× avg3.09× high

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

Balance sheet 31 Mar 2026

Total assets₹2,594 Cr+15%

Net worth₹1,398 Cr+16%

Total borrowings₹711 Cr+5%

Cash & bank balances₹33 Cr−52%

Investments₹120 Cr−4%

Inventories₹1,495 Cr+16%

Trade receivables₹424 Cr+34%

Trade payables₹57 Cr−4%

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	Nov 24	Sept 24	Jun 24	Mar 24	Dec 23
Promoter	68.56	68.23	68.23	68.23	68.23	68.23	68.23	68.23	74.20	74.20	74.20	69.73
FII	0.95	0.77	0.53	0.78	0.48	0.65	0.97	0.90	0.32	0.19	0.29	0.02
DII	0.82	1.13	1.21	1.22	1.74	2.31	1.76	1.76	1.96	2.11	2.11	1.77
Retail	19.03	19.91	19.98	19.80	19.71	19.47	19.91	20.81	18.86	18.94	19.08	18.94
Other public	10.64	9.96	10.05	9.97	9.84	9.34	9.13	8.30	4.66	4.56	4.32	9.54

27,336 shareholders · NSE shareholding pattern filings.