Quarterly results
consolidated · as filed with NSE · Q1 FY27 back to Q1 FY19
| ₹ 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 | 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 | Q1 FY19 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 9,500 | 10,915 | 10,277 | 9,174 | 10,289 | 9,889 | 9,329 | 7,516 | 8,311 | 8,894 | 8,129 | 7,424 | 8,713 | 7,966 | 7,907 | 7,143 | 7,900 | 7,625 | 6,647 | 6,978 | 7,715 | 7,453 | 6,169 | 4,644 | 6,250 | 7,126 | 6,078 | 7,069 | 6,729 | 6,018 | 6,835 |
| Other income | 169 | 234 | 87.3 | 257 | 256 | 573 | 1,352 | 374 | 355 | 233 | 194 | 476 | 263 | 284 | 132 | 102 | 90.3 | 84.3 | 93.4 | 77.5 | 97.2 | 99.9 | 97.1 | 111 | 142 | 95.2 | 113 | 110 | 123 | 80 | 82 |
| Total expenses | 8,802 | 10,525 | 9,941 | 8,376 | 9,257 | 8,822 | 8,348 | 7,023 | 7,567 | 7,741 | 6,885 | 6,564 | 7,470 | 7,119 | 7,281 | 7,180 | 6,813 | 6,866 | 5,544 | 5,467 | 6,177 | 6,434 | 5,144 | 3,845 | 5,388 | 6,372 | 5,401 | 5,904 | 6,154 | 5,540 | 5,918 |
| EBITDA | 1,589 | 1,464 | 1,353 | 1,761 | 1,961 | 1,868 | 1,712 | 1,111 | 1,280 | 1,699 | 1,732 | 1,302 | 1,667 | 1,239 | 1,008 | 334 | 1,424 | 1,128 | 1,416 | 1,827 | 1,838 | 1,342 | 1,350 | 1,122 | 1,191 | 1,117 | 999 | 1,484 | 908 | 804 | 1,250 |
| EBITDA margin | 16.7% | 13.4% | 13.2% | 19.2% | 19.1% | 18.9% | 18.4% | 14.8% | 15.4% | 19.1% | 21.3% | 17.5% | 19.1% | 15.6% | 12.8% | 4.7% | 18.0% | 14.8% | 21.3% | 26.2% | 23.8% | 18.0% | 21.9% | 24.2% | 19.1% | 15.7% | 16.4% | 21.0% | 13.5% | 13.4% | 18.3% |
| Finance costs | 57 | 20.8 | 58.9 | 76.8 | 67.1 | 14.3 | 67 | 66.8 | 67.8 | 92.9 | 70.1 | 61.3 | 52.1 | 39.4 | 45.2 | 40.5 | 32 | 38.2 | 36.4 | 39.5 | 31.6 | 40.8 | 34.5 | 31.3 | 33.7 | 53 | 37.8 | 40.7 | 40.7 | 39.2 | 46.4 |
| Depreciation | 834 | 1,053 | 959 | 885 | 862 | 786 | 664 | 552 | 467 | 453 | 418 | 381 | 372 | 352 | 337 | 331 | 306 | 330 | 276 | 277 | 269 | 283 | 290 | 292 | 296 | 310 | 285 | 278 | 292 | 287 | 286 |
| Profit before tax | 843 | 522 | 407 | 833 | 1,328 | 1,775 | 2,333 | 710 | 1,099 | 1,598 | 1,438 | 1,336 | 1,506 | 985 | 617 | 33.4 | 1,177 | 724 | 1,197 | 1,588 | 1,635 | 942 | 1,122 | 910 | 1,003 | 850 | 789 | 1,275 | 594 | 557 | 1,000 |
| Tax | 188 | −1,329 | 45.4 | −1,465 | 363 | 497 | −284 | 240 | 313 | 75.4 | 359 | 352 | 376 | 226 | 136 | −12.7 | 327 | 297 | 311 | 432 | 413 | −19.9 | 321 | 319 | 264 | 134 | 260 | 448 | −781 | 164 | 318 |
| Net profit | 660 | 1,857 | 367 | 2,302 | 970 | 1,282 | 2,620 | 473 | 790 | 1,526 | 1,090 | 987 | 1,135 | 763 | 488 | 51.3 | 856 | 431 | 891 | 1,161 | 1,228 | 968 | 804 | 593 | 743 | 722 | 534 | 832 | 1,378 | 396 | 684 |
| Net margin | 6.9% | 17.0% | 3.6% | 25.1% | 9.4% | 13.0% | 28.1% | 6.3% | 9.5% | 17.2% | 13.4% | 13.3% | 13.0% | 9.6% | 6.2% | 0.7% | 10.8% | 5.7% | 13.4% | 16.6% | 15.9% | 13.0% | 13.0% | 12.8% | 11.9% | 10.1% | 8.8% | 11.8% | 20.5% | 6.6% | 10.0% |
| EPS (₹) | 2.32 | 7.41 | 0.82 | 7.15 | 3.20 | 3.88 | 8.59 | 1.85 | 2.68 | 5.31 | 4.14 | 3.99 | 4.56 | 3.25 | 2.19 | 0.47 | 3.32 | 1.46 | 3.35 | 4.42 | 4.77 | 3.69 | 3.13 | 2.30 | 2.79 | 2.98 | 1.94 | 3.14 | 4.91 | 1.45 | 2.65 |
| Net profit YoY | −31.9% | +44.9% | −86.0% | +386.9% | +22.8% | −16.0% | +140.5% | −52.1% | −30.5% | +99.9% | +123.3% | +1824.4% | – | −10.9% | +13.2% | −94.2% | −30.3% | −55.5% | +10.8% | +96.0% | +65.4% | +34.1% | +50.5% | −28.8% | – | −47.6% | +34.8% | +21.5% | – | – | – |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY26 | FY25 | FY24 | FY23 | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 40,656 | 35,045 | 33,160 | 38,937 | 30,983 | 28,965 | 24,516 | 27,104 | 26,041 |
| Other income | 834 | 2,654 | 1,166 | 738 | 457 | 352 | 450 | 581 | 371 |
| Total expenses | 37,911 | 31,768 | 28,660 | 35,654 | 28,551 | 24,053 | 20,813 | 23,829 | 23,355 |
| EBITDA | 6,539 | 5,971 | 6,400 | 5,122 | 3,882 | 6,210 | 5,006 | 4,597 | 4,011 |
| EBITDA margin | 16.1% | 17.0% | 19.3% | 13.2% | 12.5% | 21.4% | 20.4% | 17.0% | 15.4% |
| Finance costs | 224 | 216 | 276 | 195 | 158 | 146 | 140 | 170 | 171 |
| Depreciation | 3,570 | 2,478 | 1,623 | 1,645 | 1,292 | 1,152 | 1,162 | 1,153 | 1,154 |
| Profit before tax | 3,279 | 5,909 | 5,878 | 3,701 | 2,717 | 5,144 | 3,977 | 3,855 | 2,906 |
| Tax | −2,338 | 764 | 1,163 | 705 | 480 | 1,453 | 885 | 1,092 | −54.2 |
| Net profit | 5,637 | 5,158 | 4,738 | 3,024 | 2,261 | 3,711 | 3,107 | 2,783 | 2,973 |
| Net margin | 13.9% | 14.7% | 14.3% | 7.8% | 7.3% | 12.8% | 12.7% | 10.3% | 11.4% |
| EPS (₹) | 19.15 | 17.00 | 17.99 | 13.01 | 9.76 | 14.00 | 11.91 | 10.55 | 10.97 |
| Net profit YoY | +9.3% | +8.9% | +56.7% | – | −39.1% | +19.4% | +11.6% | −6.4% | – |
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 | 5,362 | 3,295 | 5,646 | 735 | 5,309 |
| Investing cash flow | −7,935 | −8,589 | −8,950 | −14,481 | −2,007 |
| Financing cash flow | −1,629 | 5,592 | 5,689 | 2,931 | −516 |
| Capital expenditure | 6,344 | 8,687 | 4,482 | 4,232 | 2,334 |
| Free cash flow (CFO − capex) | −983 | −5,392 | 1,163 | −3,497 | 2,975 |
Net profit trend
annual, ₹ croreFY22
₹3,711
FY23
₹2,261−39%
FY23
₹3,024+34%
FY24
₹4,738+57%
FY25
₹5,158+9%
FY26
₹5,637+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 | 4 May 2026 | PDF on NSE XBRL |
| Q4 FY26 | Standalone · audited | 4 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 | 3 Nov 2025 | PDF on NSE XBRL |
| Q2 FY26 | Standalone | – | PDF on NSE XBRL |
| Q2 FY26 | Standalone | 3 Nov 2025 | PDF on NSE XBRL |
| Q1 FY26 | Consolidated | 31 Jul 2025 | PDF on NSE XBRL |
Annual reports
NSE archiveKey ratios
P/E (TTM)5Y avg 26.3×18.3×
P/B5Y avg 2.78×1.60×
ROEFY26, on average equity10.0%
Net margin13.9%
Debt / equity0.00×
Revenue CAGR (3Y)1.5%
Profit CAGR (3Y)23.1%
EPS (TTM)₹20.98
Market cap₹94,868 Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
1.60×
vs 7-point avg 2.78× (−43%)
1.60× low2.78× avg3.65× high
History points are balance-sheet dates (2023 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹89,607 Cr+11%
Net worth₹59,347 Cr+11%
Total borrowings₹53 Cr+97%
Cash & bank balances₹892 Cr−82%
Investments₹40 Cr−98%
Inventories₹4,552 Cr+7%
Trade receivables₹1,868 Cr+17%
Trade payables₹4,185 Cr+52%
Change vs the same date a year earlier.
Revenue mix FY26
Cement95.2%result ₹3,135 Cr
Ready Mix Concrete4.8%result ₹122 Cr
Segment revenue as reported, before inter-segment eliminations.