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Quarterly results

standalone · 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	Q3 FY19	Q2 FY19	Q1 FY19	Q4 FY17
Revenue from operations	394	527	419	362	393	407	386	432	316	364	477	482	478	590	571	485	452	426	346	349	258	362	249	155	121	280	350	272	368	375	376	336	340	340
Other income	21.7	17.5	28.7	10.2	27.2	17.7	15.3	30.3	25.4	27.9	24.1	21.3	21.6	13.8	16.3	13.2	8.7	16.1	7.4	9.3	12.1	4.4	3.7	4.1	3.1	4.6	3.4	4.1	2.4	2.8	6.2	4.4	1.2	0.8
Total expenses	375	533	435	400	391	419	384	405	305	347	384	369	340	381	351	355	346	365	304	333	235	322	252	176	154	234	274	264	276	285	286	282	271	285
EBITDA	48.8	25.1	15.4	−6.8	33.6	20.3	28.3	52.3	33.7	35.3	110	131	155	229	237	146	124	81.8	62	35.4	41.7	59.6	16.2	−1.7	−13.2	65.5	96.8	28.1	112	109	109	72.5	88.2	77.3
EBITDA margin	12.4%	4.8%	3.7%	-1.9%	8.5%	5.0%	7.3%	12.1%	10.7%	9.7%	23.0%	27.2%	32.4%	38.7%	41.5%	30.1%	27.4%	19.2%	17.9%	10.1%	16.1%	16.4%	6.5%	-1.1%	-10.9%	23.4%	27.7%	10.4%	30.4%	29.1%	28.9%	21.6%	26.0%	22.7%
Finance costs	2.9	3.7	4.6	4.2	5.8	7.3	4.5	3.9	2.2	0.8	0.8	1.4	1.3	3.4	1.4	1.2	1.2	2.2	1.1	1.1	1	1.5	1	1	0.9	1.1	2.1	1	1.1	0.8	1.6	2.4	3.7	6.2
Depreciation	27	27.1	27.4	26.9	25.9	24.5	22	21	20.8	16.7	16.7	16.6	15.8	15.7	15.6	15.1	16.8	18.2	18	18.2	17.6	17.9	18.3	18.4	18.8	19.1	18.7	18.9	19.1	18.3	17	16.5	16.1	16.5
Profit before tax	40.5	11.8	12.2	−27.7	29.2	6.2	17.1	57.8	36	45.6	116	135	159	208	236	143	114	77.5	50.3	25.4	35.2	44.5	0.6	−17	−34.3	49.8	79.4	12.3	94.3	92.8	90.9	58	69.6	47
Tax	10.2	4	2.3	−7.5	7.9	−1.7	5.4	16.1	8.3	7.2	33.7	34.2	40.8	54	66	29.2	29.4	20.1	13	6.5	9.1	12.2	−3.5	−1.1	−9.2	−43.1	28.3	4.4	33.3	32.9	33.1	20.6	24.8	14.2
Net profit	30.3	7.7	9.8	−20.3	21.3	7.9	11.6	41.7	27.7	38.4	82.5	100	119	154	170	113	84.9	57.4	37.3	18.9	26.1	32.3	4.1	−15.9	−25.1	92.9	51.1	7.9	61	59.9	57.9	37.4	44.9	32.7
Net margin	7.7%	1.5%	2.4%	-5.6%	5.4%	1.9%	3.0%	9.7%	8.8%	10.5%	17.3%	20.8%	24.8%	26.1%	29.8%	23.4%	18.8%	13.5%	10.8%	5.4%	10.1%	8.9%	1.6%	-10.3%	-20.7%	33.2%	14.6%	2.9%	16.6%	16.0%	15.4%	11.1%	13.2%	9.6%
EPS (₹)	1.52	0.39	0.50	-1.02	1.07	0.39	0.59	2.10	6.96	9.66	20.74	25.22	29.81	38.70	42.79	28.52	21.36	14.44	9.37	4.75	6.57	8.13	1.02	-4.01	-6.31	23.37	12.84	1.99	15.34	15.06	14.55	9.41	11.28	8.23
Net profit YoY	+42.3%	−1.6%	−15.5%	−148.6%	−23.0%	−79.6%	−85.9%	−58.4%	−76.6%	−75.0%	−51.5%	−11.6%	+39.5%	+167.9%	+356.6%	+501.0%	+225.0%	+77.6%	+817.4%	+218.5%	+204.3%	−65.2%	−92.0%	−300.8%	−141.1%	+55.1%	−11.8%	−78.8%	+36.0%	–	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY17
Revenue from operations	1,701	1,541	1,801	2,098	1,380	887	1,270	1,427	323
Other income	83.6	88.7	94.9	52	44.9	15.2	14.5	14.6	1.8
Total expenses	1,759	1,513	1,440	1,433	1,237	904	1,048	1,125	284
EBITDA	67.3	135	431	735	221	60.9	302	379	63.8
EBITDA margin	4.0%	8.7%	23.9%	35.0%	16.0%	6.9%	23.8%	26.5%	19.7%
Finance costs	18.2	17.9	4.4	7.2	5.4	4.5	5.3	8.5	7.6
Depreciation	107	88.3	65.9	63.2	72	73.4	75.9	67.9	17.2
Profit before tax	25.4	117	456	701	188	−6.2	236	311	26.6
Tax	6.7	28.2	116	179	48.6	−1.6	22.9	111	11.1
Net profit	18.6	88.9	340	522	140	−4.6	213	200	15.6
Net margin	1.1%	5.8%	18.9%	24.9%	10.1%	-0.5%	16.8%	14.0%	4.8%
EPS (₹)	0.94	4.47	85.43	131.37	35.14	-1.16	53.54	50.31	3.92
Net profit YoY	−79.1%	−73.8%	−35.0%	+273.9%	+3138.6%	−102.2%	+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	105	−55.4	319	536	202
Investing cash flow	1.7	−61.2	−334	−499	−181
Financing cash flow	−93.9	109	5	−41.3	−11.7
Capital expenditure	299	265	331	115	39.4
Free cash flow (CFO − capex)	−194	−320	−12.3	421	163

Net profit trend

annual, ₹ crore

FY21

₹−4.6

FY22

₹140+3139%

FY23

₹522+274%

FY24

₹340−35%

FY25

₹88.9−74%

FY26

₹18.6−79%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Standalone	4 Aug 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	14 May 2026	PDF on NSE XBRL
Q3 FY26	Standalone	4 Feb 2026	PDF on NSE XBRL
Q2 FY26	Standalone	6 Nov 2025	PDF XBRL
Q1 FY26	Standalone	5 Aug 2025	PDF XBRL
Q4 FY25	Standalone · audited	8 May 2025	PDF XBRL
Q3 FY25	Standalone	7 Feb 2025	PDF on NSE XBRL
Q2 FY25	Standalone	5 Nov 2024	PDF on NSE XBRL
Q1 FY25	Standalone	5 Aug 2024	PDF on NSE XBRL
Q4 FY24	Standalone · audited	15 May 2024	PDF on NSE XBRL

Annual reports

NSE archive

FY2612.24 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 21.7×53.3×

P/B5Y avg 1.00×0.76×

ROEFY26, on average equity1.0%

Net margin1.1%

Debt / equity0.12×

Revenue CAGR (3Y)-6.7%

Profit CAGR (3Y)-67.1%

EPS (TTM)₹1.39

Market cap₹1,472 Cr

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

P/B vs history

0.76×

vs 8-point avg 1.00× (−24%)

0.60× low1.00× avg1.39× high

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

Balance sheet 31 Mar 2026

Total assets₹2,538 Cr−3%

Net worth₹1,939 Cr−0%

Total borrowings₹232 Cr−18%

Cash & bank balances₹16 Cr+329%

Investments₹650 Cr−13%

Inventories₹263 Cr−18%

Trade receivables₹156 Cr+44%

Trade payables₹159 Cr−16%

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	72.45	72.45	72.45	72.45	72.45	72.45	72.45	72.45	72.31	72.31	72.31	72.31
FII	0.27	0.34	0.79	0.78	0.84	0.96	1.02	1.35	2.31	2.33	2.62	2.65
DII	5.49	5.79	4.74	4.68	4.68	4.67	4.67	4.53	2.60	2.60	2.22	2.56
of which MF	5.11	5.41	4.36	4.30	4.30	–	–	–	–	–	–	–
Retail	13.77	13.51	13.90	13.97	14.04	14.00	14.18	13.86	14.92	15.08	15.50	14.50
Other public	8.02	7.91	8.12	8.12	7.99	7.92	7.68	7.81	7.86	7.68	7.35	7.98

40,465 shareholders · NSE shareholding pattern filings.