Quarterly results
consolidated · as filed with NSE · Q1 FY27 back to Q4 FY18
| ₹ 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 | Q4 FY18 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 7,398 | 7,336 | 7,743 | 6,831 | 6,561 | 6,424 | 6,928 | 6,437 | 6,335 | 6,258 | 6,595 | 6,280 | 6,245 | 6,247 | 6,423 | 5,956 | 5,942 | 5,578 | 5,707 | 5,077 | 4,584 | 5,026 | 5,154 | 4,283 | 2,873 | 3,610 | 4,400 | 3,986 | 4,331 | 4,274 | 4,718 | 4,257 | 4,031 |
| Other income | 58.3 | 35.2 | 49.6 | 29.7 | 18.9 | 27.5 | 8.1 | 21.7 | 30.8 | 74.3 | 18.4 | 25.3 | 35.5 | 16.9 | 6.7 | 6.9 | 10.6 | 37.2 | 17 | 28.9 | 40.5 | 61.9 | 63.6 | 38.5 | 26.8 | −2.4 | 17.8 | 4 | 27.5 | 48.5 | 33.2 | 12.3 | 43.7 |
| Total expenses | 7,012 | 6,753 | 7,043 | 6,295 | 6,171 | 6,073 | 6,467 | 6,055 | 5,902 | 5,733 | 5,878 | 5,613 | 5,691 | 5,760 | 6,006 | 5,725 | 5,714 | 5,455 | 5,417 | 4,883 | 4,463 | 4,663 | 4,597 | 4,035 | 3,062 | 3,540 | 4,216 | 3,892 | 4,182 | 4,124 | 4,441 | 4,032 | 3,741 |
| EBITDA | 868 | 1,069 | 1,186 | 1,021 | 868 | 837 | 947 | 878 | 909 | 1,028 | 1,208 | 1,160 | 1,051 | 998 | 913 | 712 | 690 | 626 | 743 | 638 | 567 | 815 | 989 | 695 | 237 | 475 | 534 | 432 | 475 | 425 | 527 | 467 | 515 |
| EBITDA margin | 11.7% | 14.6% | 15.3% | 14.9% | 13.2% | 13.0% | 13.7% | 13.6% | 14.4% | 16.4% | 18.3% | 18.5% | 16.8% | 16.0% | 14.2% | 12.0% | 11.6% | 11.2% | 13.0% | 12.6% | 12.4% | 16.2% | 19.2% | 16.2% | 8.3% | 13.2% | 12.1% | 10.8% | 11.0% | 9.9% | 11.2% | 11.0% | 12.8% |
| Finance costs | 91.5 | 89.8 | 100 | 101 | 101 | 109 | 111 | 120 | 107 | 115 | 123 | 133 | 135 | 139 | 142 | 132 | 118 | 128 | 108 | 104 | 105 | 104 | 105 | 117 | 117 | 91.2 | 67.3 | 64 | 58.4 | 43.4 | 48.5 | 46.1 | 47.6 |
| Depreciation | 391 | 397 | 385 | 383 | 378 | 377 | 376 | 376 | 370 | 388 | 368 | 360 | 362 | 372 | 354 | 349 | 344 | 375 | 344 | 340 | 340 | 348 | 327 | 331 | 309 | 314 | 283 | 274 | 267 | 231 | 201 | 196 | 177 |
| Profit before tax | 468 | 161 | 723 | 386 | 38.3 | 260 | 464 | 399 | 423 | 563 | 721 | 680 | 576 | 526 | 424 | 238 | 238 | 160 | 307 | 219 | 161 | 423 | 615 | 280 | −162 | 67.7 | 201 | 97.9 | 177 | 98.4 | 251 | 197 | 334 |
| Tax | 119 | −469 | 253 | 128 | 25.5 | 75.3 | 127 | 101 | 121 | 209 | 224 | 206 | 179 | 99.2 | 132 | 44 | 47.8 | 46.7 | 83.3 | 45.4 | 33.6 | 136 | 171 | 79.8 | −27.6 | −10.1 | 27.2 | 14.8 | 35.1 | 14.4 | 52.9 | 51.2 | 84.4 |
| Net profit | 349 | 631 | 471 | 258 | 12.9 | 185 | 337 | 297 | 302 | 354 | 497 | 474 | 397 | 427 | 292 | 194 | 191 | 113 | 224 | 174 | 128 | 287 | 444 | 200 | −135 | 77.9 | 174 | 83.1 | 142 | 84 | 198 | 146 | 250 |
| Net margin | 4.7% | 8.6% | 6.1% | 3.8% | 0.2% | 2.9% | 4.9% | 4.6% | 4.8% | 5.7% | 7.5% | 7.6% | 6.4% | 6.8% | 4.5% | 3.3% | 3.2% | 2.0% | 3.9% | 3.4% | 2.8% | 5.7% | 8.6% | 4.7% | -4.7% | 2.2% | 4.0% | 2.1% | 3.3% | 2.0% | 4.2% | 3.4% | 6.2% |
| EPS (₹) | 5.52 | 9.97 | 7.43 | 4.07 | 0.20 | 2.91 | 5.31 | 4.68 | 4.76 | 5.58 | 7.82 | 7.47 | 6.25 | 6.73 | 4.60 | 3.06 | 3.00 | 1.79 | 3.52 | 2.74 | 2.01 | 4.52 | 7.01 | 3.31 | -2.26 | 1.36 | 3.04 | 1.45 | 2.48 | 1.47 | 3.46 | 2.55 | 4.37 |
| Net profit YoY | +2609.1% | +241.8% | +39.5% | −13.2% | −95.7% | −47.9% | −32.1% | −37.3% | −23.9% | −17.2% | +70.0% | +143.9% | +108.2% | +276.7% | +30.7% | +11.9% | +49.2% | −60.5% | −49.6% | −13.1% | +195.0% | +268.9% | +155.3% | +140.7% | −195.0% | −7.3% | −12.2% | −43.1% | – | −66.4% | – | – | – |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 28,471 | 26,123 | 25,378 | 24,568 | 20,948 | 17,397 | 16,327 | 17,549 | 15,095 |
| Other income | 133 | 88.1 | 154 | 41.1 | 123 | 129 | 46.9 | 123 | 117 |
| Total expenses | 26,262 | 24,497 | 22,914 | 23,205 | 20,218 | 16,357 | 15,830 | 16,584 | 14,200 |
| EBITDA | 4,143 | 3,572 | 4,447 | 3,314 | 2,574 | 2,797 | 1,916 | 1,959 | 1,651 |
| EBITDA margin | 14.6% | 13.7% | 17.5% | 13.5% | 12.3% | 16.1% | 11.7% | 11.2% | 10.9% |
| Finance costs | 391 | 447 | 506 | 531 | 444 | 443 | 281 | 181 | 163 |
| Depreciation | 1,543 | 1,498 | 1,478 | 1,419 | 1,400 | 1,315 | 1,138 | 813 | 593 |
| Profit before tax | 1,309 | 1,546 | 2,540 | 1,427 | 848 | 561 | 543 | 888 | 1,012 |
| Tax | −63.2 | 425 | 818 | 323 | 209 | 211 | 67 | 208 | 288 |
| Net profit | 1,372 | 1,121 | 1,722 | 1,105 | 639 | 350 | 476 | 680 | 724 |
| Net margin | 4.8% | 4.3% | 6.8% | 4.5% | 3.0% | 2.0% | 2.9% | 3.9% | 4.8% |
| EPS (₹) | 21.66 | 17.66 | 27.11 | 17.39 | 10.06 | 5.68 | 8.33 | 11.88 | 13.43 |
| Net profit YoY | +22.4% | −34.9% | +55.9% | +73.0% | +82.3% | −26.5% | −29.9% | −6.1% | – |
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 | 3,667 | 1,823 | 3,440 | 2,134 | 2,239 |
| Investing cash flow | −1,341 | −202 | −711 | −476 | −1,181 |
| Financing cash flow | −2,177 | −1,647 | −2,659 | −1,692 | −1,175 |
| Capital expenditure | 1,403 | 769 | 730 | 775 | 1,846 |
| Free cash flow (CFO − capex) | 2,264 | 1,055 | 2,709 | 1,360 | 393 |
Net profit trend
annual, ₹ croreFY21
₹350
FY22
₹639+82%
FY23
₹1,105+73%
FY24
₹1,722+56%
FY25
₹1,121−35%
FY26
₹1,372+22%
Result filings
as filed with NSE · PDF and XBRL| Period | Basis | Filed | Documents |
|---|---|---|---|
| Q1 FY27 | Consolidated | 6 Aug 2026 | PDF on NSE XBRL |
| Q1 FY27 | Standalone | 6 Aug 2026 | PDF on NSE XBRL |
| Q4 FY26 | Consolidated · audited | 14 May 2026 | PDF on NSE XBRL |
| Q4 FY26 | Standalone · audited | 14 May 2026 | PDF on NSE XBRL |
| Q3 FY26 | Consolidated | 4 Feb 2026 | PDF on NSE XBRL |
| Q3 FY26 | Standalone | 4 Feb 2026 | PDF on NSE XBRL |
| Q2 FY26 | Consolidated | 13 Nov 2025 | PDF on NSE XBRL |
| Q2 FY26 | Standalone | 13 Nov 2025 | PDF on NSE XBRL |
| Q1 FY26 | Consolidated | 7 Aug 2025 | PDF XBRL |
| Q1 FY26 | Standalone | 7 Aug 2025 | PDF XBRL |
Annual reports
NSE archiveKey ratios
P/E (TTM)5Y avg 19.7×14.9×
P/B5Y avg 1.86×1.52×
ROEFY26, on average equity8.7%
Net margin4.8%
Debt / equity0.16×
Revenue CAGR (3Y)5.0%
Profit CAGR (3Y)7.5%
EPS (TTM)₹26.90
Market cap₹25,410 Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
1.52×
vs 8-point avg 1.86× (−18%)
1.52× low1.86× avg2.43× high
History points are balance-sheet dates (2022 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹29,240 Cr+7%
Net worth₹16,715 Cr+13%
Total borrowings₹2,632 Cr−22%
Cash & bank balances₹1,029 Cr+16%
Investments₹56 Cr+42%
Inventories₹5,452 Cr+6%
Trade receivables₹3,191 Cr+4%
Trade payables₹3,224 Cr+12%
Change vs the same date a year earlier.
Revenue mix FY26
APMEA63.2%result ₹2,129 Cr
Europe27.7%result ₹554 Cr
Others9.1%result ₹51.1 Cr
Segment revenue as reported, before inter-segment eliminations.