Quarterly results
standalone · as filed with NSE · Q3 FY26 back to Q4 FY18
| ₹ crore | 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 FY18 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 16.8 | 7.2 | 12.8 | 156 | 212 | 195 | 83.2 | 160 | 106 | 79.6 | 133 | 273 | 67 | 217 | 76 | 327 | 134 | 107 | 70.8 | 297 | 160 | 191 | 73.8 | 234 | 214 | 146 | 117 | 65.6 | 59.2 | 155 |
| Other income | 0 | 0 | 11 | 7.5 | 0 | 0.4 | 2.7 | 0.5 | 0.1 | 0.4 | 1.5 | 21.3 | 1.1 | 0.5 | 5.7 | 5.5 | 2.2 | 13.6 | 0 | 32.5 | 2.4 | 4.8 | 0.5 | 3.9 | 2.1 | 6.8 | 8.4 | 2.5 | 14 | 4.2 |
| Total expenses | 20.4 | 7.9 | 10.5 | 1,297 | 196 | 338 | 82.7 | 178 | 77.8 | 84 | 139 | 616 | 152 | 210 | 80 | 328 | 145 | 126 | 71.7 | 335 | 164 | 205 | 78.4 | 336 | 205 | 159 | 144 | 94.5 | 69.8 | 142 |
| EBITDA | −3.4 | −0.5 | 2.5 | −1,139 | 18.3 | −140 | 3.5 | −14.4 | 31.4 | 0.8 | −3.1 | −338 | −81.8 | 10.1 | 0.7 | 12.3 | 4.1 | −3.5 | 14.7 | −24.5 | 22.3 | 8.6 | 14.7 | −82.8 | 32.1 | 11.3 | 4.7 | 3.5 | 25.6 | 38.4 |
| EBITDA margin | -20.0% | -6.7% | 19.8% | -729.5% | 8.6% | -71.7% | 4.2% | -9.0% | 29.6% | 1.0% | -2.3% | -123.8% | -122.2% | 4.7% | 0.9% | 3.8% | 3.0% | -3.3% | 20.7% | -8.2% | 13.9% | 4.5% | 19.9% | -35.4% | 15.0% | 7.7% | 4.0% | 5.3% | 43.3% | 24.8% |
| Finance costs | 0.1 | 0.1 | 0.1 | 1.8 | 2.8 | 2.7 | 2.7 | 2.7 | 2.8 | 5 | 3.3 | 3.8 | 3.1 | 3.1 | 4.4 | 13.4 | 15 | 15.1 | 15.3 | 13 | 26.1 | 22.2 | 19 | 18.9 | 22.9 | 23.8 | 30.8 | 31.8 | 35.5 | 24.5 |
| Depreciation | 0.2 | 0.2 | 0.1 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.3 | 0.3 | 0.2 | 0.2 | 0.3 | 0.3 | 0.3 | 0.3 | 0.4 | 0.4 | 0.3 | 0.3 | 0.7 | 0.5 | 0.7 | 0.6 | 0.6 | 0.7 | 0.9 |
| Profit before tax | 29.4 | −0.7 | 13.3 | −1,517 | 15.4 | −212 | 3.3 | −16.9 | 28.5 | −4.1 | −5.1 | −322 | −84.1 | 7.2 | 1.7 | 4.2 | −9 | −5.3 | −0.9 | −5.3 | −1.8 | −9.1 | −4.2 | −190 | 10.8 | −6.4 | −18.3 | −26.4 | 3.5 | 17.2 |
| Tax | −0.8 | −0.1 | 0.1 | −77.4 | 2.4 | −0.3 | −0.3 | −2.2 | −0.1 | 0.3 | −0.5 | −15.9 | −0.1 | −0.1 | 0.3 | −0.2 | −0.1 | −0.1 | −0 | −1.4 | 0.4 | 0.8 | −0.4 | 20.9 | 1.6 | −1.5 | 1.4 | 10.7 | 0.9 | 2.9 |
| Net profit | 30.2 | −0.6 | 13.2 | −1,434 | 13 | −212 | 3.6 | −14.7 | 28.6 | −4.4 | −4.6 | −307 | −84 | 7.4 | 1.3 | 4.4 | −8.9 | −5.2 | −0.9 | −3.9 | −2.1 | −9.9 | −3.8 | −211 | 9.2 | −4.9 | −19.7 | −37.2 | 2.6 | 14.3 |
| Net margin | 179.8% | -8.8% | 103.5% | -918.8% | 6.1% | -108.5% | 4.3% | -9.2% | 26.9% | -5.5% | -3.5% | -112.2% | -125.4% | 3.4% | 1.8% | 1.3% | -6.6% | -4.8% | -1.2% | -1.3% | -1.3% | -5.2% | -5.1% | -90.0% | 4.3% | -3.4% | -16.8% | -56.7% | 4.4% | 9.2% |
| EPS (₹) | 1.92 | 0.04 | 0.84 | -91.10 | 0.82 | -13.47 | 0.23 | -0.93 | 1.81 | -0.28 | -0.29 | -19.48 | -5.34 | 0.47 | 0.09 | 0.28 | -0.56 | -0.33 | -0.05 | -0.25 | -0.13 | -0.63 | -0.24 | -13.38 | 0.60 | -0.31 | -1.25 | -2.36 | 0.16 | 0.91 |
| Net profit YoY | +132.5% | +99.7% | +270.3% | −9674.4% | −54.6% | −4739.3% | +177.8% | +95.2% | +134.0% | −159.6% | −442.5% | −7131.2% | −848.9% | +242.2% | +255.8% | +210.7% | −315.5% | +47.5% | +77.4% | +98.1% | −123.1% | −99.4% | – | – | +146.8% | +86.7% | – | – | – | – |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY18 |
|---|---|---|---|---|---|---|---|
| Revenue from operations | 646 | 479 | 633 | 639 | 722 | 794 | 549 |
| Other income | 10.6 | 2.4 | 28.5 | 21.3 | 40.2 | 15.5 | 19.5 |
| Total expenses | 1,914 | 479 | 1,058 | 671 | 782 | 903 | 607 |
| EBITDA | −1,257 | 14.7 | −409 | 27.6 | 7.1 | −15.6 | 47.3 |
| EBITDA margin | -194.4% | 3.1% | -64.6% | 4.3% | 1.0% | -2.0% | 8.6% |
| Finance costs | 10 | 13.8 | 14.4 | 58.7 | 66.3 | 90.6 | 102 |
| Depreciation | 0.8 | 0.8 | 1 | 1.1 | 1.4 | 2.3 | 3.3 |
| Profit before tax | −1,710 | 2.5 | −398 | −10.9 | −20.3 | −184 | −63.9 |
| Tax | −75.6 | −2.4 | −15.8 | −0.4 | −0.5 | 19.3 | −25.3 |
| Net profit | −1,629 | 4.9 | −382 | −10.5 | −19.7 | −204 | −38.6 |
| Net margin | -252.0% | 1.0% | -60.3% | -1.6% | -2.7% | -25.6% | -7.0% |
| EPS (₹) | -103.51 | 0.31 | -24.26 | 0.67 | -1.25 | -12.94 | -2.45 |
| Net profit YoY | −33216.5% | +101.3% | −3540.5% | +46.8% | +90.3% | – | – |
EPS is as filed for each period and is not restated for later bonus issues or splits.
Cash flow
annual · ₹ crore| ₹ crore | FY25 | FY24 | FY23 | FY22 |
|---|---|---|---|---|
| Operating cash flow | −20.5 | 67 | 19.8 | 91.6 |
| Investing cash flow | 12.9 | 2.4 | 20.1 | −1.5 |
| Financing cash flow | −2 | −70.6 | −31.6 | −83.3 |
| Capital expenditure | 0.8 | 0.7 | 1.2 | 0 |
| Free cash flow (CFO − capex) | −21.3 | 66.3 | 18.7 | 91.6 |
Net profit trend
annual, ₹ croreFY20
₹−204
FY21
₹−19.7+90%
FY22
₹−10.5+47%
FY23
₹−382−3541%
FY24
₹4.9+101%
FY25
₹−1,629−33216%
Result filings
as filed with NSE · PDF and XBRL| Period | Basis | Filed | Documents |
|---|---|---|---|
| Q3 FY26 | Standalone | 17 Jun 2026 | PDF on NSE XBRL |
| Q2 FY26 | Standalone | 17 Jun 2026 | PDF on NSE XBRL |
| Q1 FY26 | Standalone | 15 Dec 2025 | PDF on NSE XBRL |
| Q4 FY25 | Consolidated · audited | 17 Jun 2026 | PDF on NSE XBRL |
| Q4 FY25 | Standalone · audited | 7 Nov 2025 | PDF XBRL |
| Q3 FY25 | Consolidated | 16 Apr 2025 | PDF on NSE XBRL |
| Q3 FY25 | Standalone | 16 Apr 2025 | PDF on NSE XBRL |
| Q2 FY25 | Consolidated | 27 Nov 2024 | PDF on NSE XBRL |
| Q2 FY25 | Standalone | 27 Nov 2024 | PDF on NSE XBRL |
| Q1 FY25 | Consolidated | 13 Aug 2024 | PDF on NSE XBRL |
Annual reports
NSE archiveKey ratios
P/E (TTM)5Y avg 29.1×-0.0×
P/B5Y avg 1.70×-0.03×
ROEFY25, on average equity162.7%
Net margin-252.0%
Debt / equity-0.11×
Revenue CAGR (3Y)0.4%
Profit CAGR (3Y)–
EPS (TTM)₹-88.38
Market cap₹62 Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
-0.03×
vs 7-point avg 1.70× (−102%)
-0.03× low1.70× avg1.70× high
History points are balance-sheet dates (2022 → 2025), priced at the adjusted close on each date.
Balance sheet 30 Sept 2025
Total assets₹3,189 Cr−25%
Net worth₹-1,803 Cr−357%
Total borrowings₹203 Cr−2%
Cash & bank balances₹12 Cr−39%
Investments₹47 Cr−89%
Inventories₹1,956 Cr−21%
Trade receivables₹194 Cr−24%
Trade payables₹1,541 Cr+65%
Change vs the same date a year earlier.