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Quarterly results

standalone · 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	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
Revenue from operations	131	102	71.1	55.1	50.6	61.7	64	68.9	63.5	54.7	43.6	39.2	28.1	26.6	29	32.6	30.1	23.3	19.5	18.2	16.3	15	12.5	13.1	8.2	20.6	24.1	22.3	22.5	21.8	20.1	24.6	26.9
Other income	1.2	1.7	1.9	2.3	2.9	6	4.1	2.4	2.3	2.5	2.5	2.9	3.4	4	3.1	2	2.1	1.8	1.8	1.8	2.1	2.1	1.8	3.3	2.2	1.2	2.6	2.6	2.8	3.1	3.2	2.8	1.7
Total expenses	49.5	53.3	34.8	41.7	38.6	47.4	43.4	43	41.3	40	37.2	29.5	23.9	23.4	22.8	23.1	20	22.6	17.4	16.9	15.4	18.9	13.9	14.8	12	16.4	14.3	13.3	13.5	13.5	12.2	11.5	13
EBITDA	92	57.7	44.7	29.4	26.8	16.4	21.8	27.2	33.2	15.7	7.4	10.6	5	4	6.9	10.3	10.7	1.3	2.7	2	1.5	−3.2	−0.8	−1	−3	5.3	10.6	9.8	9.8	9.1	8.7	13.8	14.7
EBITDA margin	70.2%	56.5%	62.9%	53.4%	53.0%	26.6%	34.0%	39.4%	52.4%	28.6%	16.9%	27.1%	17.7%	15.0%	23.9%	31.7%	35.5%	5.4%	13.9%	10.9%	9.2%	-21.5%	-6.0%	-7.8%	-36.6%	25.4%	44.0%	43.7%	43.6%	41.6%	43.1%	56.1%	54.5%
Finance costs	0.1	0.2	0.2	0.2	0.2	1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.2	0.1	0.1	0	0	0	0	0	0	0	0	0	0.1	0	0	0	0	0	0	0
Depreciation	10.3	8.7	8.3	15.8	14.6	1.2	1.1	1.1	11	0.8	0.9	0.8	0.7	0.6	0.6	0.7	0.5	0.5	0.6	0.6	0.6	0.6	0.6	0.6	0.7	0.9	0.7	0.7	0.8	0.8	0.7	0.7	0.7
Profit before tax	72.7	50.5	38.2	15.8	15	20.3	24.7	28.3	24.4	17.2	8.9	12.7	7.6	7.1	9.3	11.6	12.3	2.5	4	3.2	3	−1.7	0.4	1.6	−1.6	−3.6	12.4	11.7	11.8	11.3	11.1	15.8	15.6
Tax	18.4	12.4	9.7	4	3.8	4.4	6.2	7	6.3	5	2.8	3.3	2.6	1.8	1.7	2.8	3.2	−0.5	0.9	1	1.3	−2.8	−1.8	−1.4	−1.5	−0.3	3.5	3.3	3.4	−0.1	−0.8	1.8	1.4
Net profit	54.3	38.1	28.5	11.8	11.2	15.9	18.5	21.4	18.2	12.3	6	9.4	5	5.4	7.6	8.8	9.1	3.1	3.1	2.1	1.7	1.1	2.2	3	−0.1	−3.3	9	8.4	8.3	11.4	11.9	14	14.3
Net margin	41.5%	37.3%	40.1%	21.4%	22.2%	25.8%	28.9%	31.0%	28.7%	22.4%	13.8%	24.0%	17.9%	20.1%	26.2%	27.0%	30.1%	13.1%	15.9%	11.7%	10.3%	7.3%	17.6%	22.8%	-0.6%	-15.8%	37.2%	37.6%	37.0%	52.3%	59.2%	56.9%	52.9%
EPS (₹)	15.45	10.83	8.11	3.36	3.19	10.48	12.17	14.05	11.97	8.06	3.97	6.20	3.31	3.52	5.01	5.80	5.97	1.99	2.04	1.41	1.09	0.72	1.45	1.97	-0.04	-2.15	5.90	5.53	5.36	7.20	7.25	8.52	8.69
Net profit YoY	+384.1%	+139.0%	+54.1%	−44.7%	−38.3%	+30.0%	+206.8%	+126.8%	+260.9%	+129.0%	−20.8%	+6.9%	−44.5%	+74.8%	+145.5%	+311.7%	+443.7%	+178.2%	+40.9%	−28.4%	+3440.0%	+133.7%	−75.5%	−64.4%	−100.6%	−128.6%	−24.6%	−39.9%	−41.6%	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19
Revenue from operations	279	258	166	118	77.3	48.8	89.6	93.3
Other income	8.9	14.8	11.3	11.6	7.5	9.4	9.2	10.7
Total expenses	168	175	131	89.3	72.2	59.5	57.5	50.2
EBITDA	159	88.6	38.7	31.5	7.4	−8	35.4	46.1
EBITDA margin	56.9%	34.3%	23.3%	26.7%	9.6%	-16.4%	39.5%	49.4%
Finance costs	0.7	1.2	0.4	0.4	0.1	0.1	0.2	0.1
Depreciation	47.3	4.5	3.2	2.4	2.3	2.5	3.2	2.9
Profit before tax	119	97.7	46.4	40.2	12.6	−1.2	32.3	53.8
Tax	29.8	23.8	13.6	9.4	2.6	−7.5	9.8	2.3
Net profit	89.6	74	32.7	30.9	10	6.2	22.4	51.5
Net margin	32.1%	28.7%	19.8%	26.2%	12.9%	12.8%	25.0%	55.2%
EPS (₹)	8.11	48.67	21.54	20.29	6.53	4.10	14.64	31.54
Net profit YoY	+21.1%	+126.0%	+6.1%	+209.4%	+59.8%	−72.2%	−56.5%	–

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	125	126	71.7	69.3	−17.8
Investing cash flow	−118	−125	−69.1	−71.8	−6.1
Financing cash flow	−0.8	−0.8	−0.7	−0.4	−7.9
Capital expenditure	219	6.6	11.8	4.6	0.7
Free cash flow (CFO − capex)	−93.5	119	59.8	64.6	−18.5

Net profit trend

annual, ₹ crore

FY21

₹6.2

FY22

₹10+60%

FY23

₹30.9+209%

FY24

₹32.7+6%

FY25

₹74+126%

FY26

₹89.6+21%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Standalone	27 Jul 2026	PDF XBRL
Q4 FY26	Standalone · audited	4 May 2026	PDF on NSE XBRL
Q3 FY26	Standalone	22 Jan 2026	PDF XBRL
Q2 FY26	Standalone	11 Nov 2025	PDF XBRL
Q1 FY26	Standalone	13 Aug 2025	PDF XBRL
Q4 FY25	Standalone · audited	9 May 2025	PDF on NSE XBRL
Q3 FY25	Standalone	8 Feb 2025	PDF on NSE XBRL
Q2 FY25	Standalone	30 Oct 2024	PDF on NSE XBRL
Q1 FY25	Standalone	1 Aug 2024	PDF on NSE XBRL
Q4 FY24	Standalone · audited	7 May 2024	PDF on NSE XBRL

Annual reports

NSE archive

FY2621.99 MB FY2518.58 MB FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 31.3×33.4×

P/B5Y avg 3.82×6.77×

ROEFY26, on average equity15.9%

Net margin32.1%

Debt / equity0.00×

Revenue CAGR (3Y)33.2%

Profit CAGR (3Y)42.7%

EPS (TTM)₹37.74

Market cap₹4,436 Cr

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

P/B vs history

6.77×

vs 8-point avg 3.82× (+77%)

2.38× low3.82× avg6.85× high

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

Balance sheet 31 Mar 2026

Total assets₹824 Cr+43%

Net worth₹655 Cr+40%

Total borrowings₹0 Cr

Cash & bank balances₹6 Cr+142%

Investments₹17 Cr−85%

Inventories₹41 Cr+169%

Trade receivables₹67 Cr+91%

Trade payables₹8 Cr+42%

Change vs the same date a year earlier.

Shareholding 30 Jun 2026

%	Jun 26	Mar 26	Dec 25	Sept 25	Aug 25	Jun 25	Mar 25	Dec 24	Sept 24	Jun 24	Mar 24	Dec 23
Promoter	69.94	69.94	69.94	69.94	69.94	30.46	30.46	30.46	30.46	30.46	30.46	30.46
FII	0.41	0.26	0.23	1.70	1.72	3.91	3.61	4.31	4.62	5.01	3.83	3.71
DII	0.76	0.02	0.01	0.01	0.01	0.01	0.01	0.07	0.12	0.12	0.00	0.00
Retail	24.66	25.72	25.49	24.29	24.34	56.44	55.01	54.74	53.63	52.84	53.52	52.95
Other public	4.23	4.06	4.33	4.06	3.99	9.18	10.91	10.42	11.17	11.57	12.19	12.88

24,275 shareholders · NSE shareholding pattern filings.