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 | 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 FY18 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 83.6 | 159 | 125 | 73.7 | 91.1 | 120 | 93.9 | 98.5 | 69.4 | 154 | 50.8 | 111 | 143 | 127 | 117 | 200 | 272 | 173 | 103 | 129 | 172 | 116 | 155 | 112 | 181 | 125 | 140 | 77 | 134 | 119 | 113 | 65.5 | 128 |
| Other income | 0.7 | 2.6 | 0.8 | 1.1 | 0.5 | 0.8 | 1.9 | 2 | 0.9 | 2 | 0.9 | 1 | 1.7 | 2.6 | 3.8 | 4 | 6.8 | 2 | 0.9 | 0.8 | 1.5 | 3.3 | 1.8 | 1.3 | 5.2 | 3.9 | 1.8 | 0.9 | 5.8 | 3.1 | 1.9 | 0 | 1.8 |
| Total expenses | 103 | 169 | 139 | 99.2 | 125 | 136 | 121 | 139 | 132 | 157 | 83.9 | 129 | 156 | 136 | 120 | 179 | 220 | 142 | 91.3 | 112 | 141 | 108 | 133 | 91.5 | 146 | 113 | 134 | 79.6 | 119 | 107 | 96.7 | 63 | 103 |
| EBITDA | −0.7 | 9.2 | 4 | −6.7 | −11 | 5.5 | −5.7 | −19.7 | −46.3 | 12.7 | −18.3 | −3.4 | 3.1 | 5.4 | 12.1 | 33.3 | 65.5 | 42.9 | 21.1 | 24.7 | 38.2 | 15.6 | 29.5 | 28.3 | 42.7 | 20.8 | 15.3 | 6.4 | 23.1 | 21.2 | 23.5 | 9.2 | 31.2 |
| EBITDA margin | -0.8% | 5.8% | 3.2% | -9.1% | -12.1% | 4.6% | -6.1% | -20.0% | -66.7% | 8.3% | -36.1% | -3.1% | 2.2% | 4.3% | 10.3% | 16.7% | 24.1% | 24.7% | 20.6% | 19.2% | 22.2% | 13.4% | 19.0% | 25.3% | 23.6% | 16.7% | 10.9% | 8.3% | 17.3% | 17.8% | 20.8% | 14.0% | 24.3% |
| Finance costs | 7.7 | 7.9 | 7.2 | 8.4 | 11 | 10.4 | 9.9 | 9.3 | 7 | 6.7 | 6.1 | 6 | 6.5 | 6.4 | 5.9 | 4.5 | 3.3 | 2.6 | 1.7 | 1.5 | 1 | 1.1 | 1.1 | 1.5 | 2.1 | 3.4 | 3.6 | 3.5 | 3.2 | 3.6 | 2.9 | 2.7 | 2.3 |
| Depreciation | 11.1 | 11.8 | 11.2 | 10.4 | 11.5 | 11.6 | 11.4 | 11.5 | 9.3 | 9 | 8.7 | 9.2 | 9.4 | 7.8 | 8.8 | 8.2 | 10.6 | 9.1 | 8.2 | 6.5 | 6.5 | 6.5 | 6.3 | 6.3 | 6.1 | 5.8 | 5.7 | 5.6 | 5.5 | 5.4 | 4.5 | 4 | 4 |
| Profit before tax | −18.7 | −7.9 | −15.7 | −24.4 | −33 | −15.7 | −25.1 | −38.5 | −61.6 | −0.9 | −32.2 | −17.6 | −11 | −6.2 | 1.2 | 24.6 | 58.3 | 33.2 | 12.2 | 17.4 | 32.2 | 11.3 | 23.9 | 21.7 | 39.6 | 15.6 | 7.8 | −1.7 | 20.2 | 15.3 | 17.9 | 2.4 | 26.7 |
| Tax | −0 | −0.2 | 0 | 0 | 0 | 0.4 | 15.2 | 0 | −21.9 | 0 | −7.9 | −4.2 | −2.8 | −1.2 | 0.4 | 6.3 | 15.2 | 8.5 | 3.1 | 4.4 | 8.2 | 4.2 | 6 | 5.6 | 8.5 | 3.4 | 2.5 | −0.6 | 7.5 | 5.3 | 6.3 | 1 | 9.5 |
| Net profit | −18.7 | −7.7 | −15.7 | −24.4 | −33 | −16.1 | −40.4 | −38.5 | −39.7 | −1 | −24.3 | −13.4 | −8.2 | −5 | 0.8 | 18.3 | 43.1 | 24.8 | 9.1 | 13 | 24 | 7.1 | 17.9 | 16.2 | 31.2 | 12.2 | 5.3 | −1.1 | 12.7 | 10 | 11.6 | 1.5 | 17.2 |
| Net margin | -22.4% | -4.9% | -12.6% | -33.1% | -36.3% | -13.5% | -43.0% | -39.1% | -57.2% | -0.6% | -47.9% | -12.1% | -5.7% | -3.9% | 0.7% | 9.2% | 15.8% | 14.3% | 8.8% | 10.1% | 13.9% | 6.1% | 11.5% | 14.5% | 17.3% | 9.7% | 3.8% | -1.4% | 9.5% | 8.4% | 10.3% | 2.3% | 13.4% |
| EPS (₹) | -8.40 | -3.48 | -7.04 | -11.35 | -16.85 | -8.20 | -20.59 | -19.66 | -20.26 | 0.50 | -12.41 | -6.85 | -4.18 | -2.54 | 0.43 | 9.34 | 21.97 | 12.63 | 4.63 | 6.63 | 12.24 | 3.61 | 9.12 | 8.27 | 15.94 | 6.22 | 2.70 | -0.57 | 6.50 | 5.10 | 5.92 | 0.08 | 8.78 |
| Net profit YoY | +43.4% | +51.8% | +61.1% | +36.7% | +16.8% | −1568.1% | −65.9% | −187.4% | −385.2% | +80.6% | −2971.0% | −173.2% | – | −111.6% | −96.6% | +101.8% | +79.7% | +250.4% | −49.2% | −19.7% | −23.1% | −41.9% | +237.7% | +1558.1% | +145.0% | +21.9% | −54.3% | −174.7% | −26.0% | – | – | – | – |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 448 | 381 | 458 | 628 | 677 | 555 | 523 | 431 | 371 |
| Other income | 5.1 | 5.6 | 5.6 | 13.1 | 10.5 | 7.9 | 11.9 | 11.2 | 8.1 |
| Total expenses | 532 | 528 | 526 | 606 | 566 | 474 | 473 | 386 | 327 |
| EBITDA | −4.5 | −66.2 | −5.9 | 76.3 | 154 | 112 | 85.2 | 76.5 | 68.8 |
| EBITDA margin | -1.0% | -17.4% | -1.3% | 12.1% | 22.8% | 20.1% | 16.3% | 17.7% | 18.6% |
| Finance costs | 34.5 | 36.7 | 25.2 | 20.7 | 9.1 | 4.8 | 12.6 | 12.4 | 10.7 |
| Depreciation | 44.9 | 43.7 | 36.3 | 33.7 | 34.4 | 25.7 | 23.2 | 19.3 | 14.7 |
| Profit before tax | −81 | −141 | −61.7 | 34.9 | 121 | 89.1 | 61.4 | 55.9 | 55.7 |
| Tax | −0.1 | −6.3 | −14.9 | 9.4 | 31.2 | 24 | 13.8 | 20.1 | 20.7 |
| Net profit | −80.9 | −135 | −46.9 | 25.6 | 89.9 | 65.1 | 47.5 | 35.8 | 35 |
| Net margin | -18.0% | -35.3% | -10.2% | 4.1% | 13.3% | 11.7% | 9.1% | 8.3% | 9.4% |
| EPS (₹) | -37.79 | -68.71 | -23.93 | 13.04 | 45.87 | 33.23 | 24.29 | 18.28 | 17.88 |
| Net profit YoY | +40.0% | −187.3% | −283.2% | −71.5% | +38.1% | +36.9% | +32.9% | +2.1% | – |
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 | −80.7 | −8.4 | 10.2 | 74.7 | 23.6 |
| Investing cash flow | −4.3 | −15.2 | −135 | −113 | −104 |
| Financing cash flow | 94.5 | 23.7 | 125 | 37.8 | 80.5 |
| Capital expenditure | 5.5 | 21.8 | 135 | 117 | 104 |
| Free cash flow (CFO − capex) | −86.2 | −30.2 | −125 | −42.6 | −80.4 |
Net profit trend
annual, ₹ croreFY21
₹65.1
FY22
₹89.9+38%
FY23
₹25.6−72%
FY24
₹−46.9−283%
FY25
₹−135−187%
FY26
₹−80.9+40%
Result filings
as filed with NSE · PDF and XBRL| Period | Basis | Filed | Documents |
|---|---|---|---|
| Q1 FY27 | Consolidated | 31 Jul 2026 | PDF on NSE XBRL |
| Q1 FY27 | Standalone | 31 Jul 2026 | PDF on NSE XBRL |
| Q4 FY26 | Consolidated · audited | 27 Apr 2026 | PDF XBRL |
| Q4 FY26 | Standalone · audited | 27 Apr 2026 | PDF XBRL |
| Q3 FY26 | Consolidated | 30 Jan 2026 | PDF on NSE XBRL |
| Q3 FY26 | Standalone | 30 Jan 2026 | PDF on NSE XBRL |
| Q2 FY26 | Consolidated | 29 Oct 2025 | PDF on NSE XBRL |
| Q2 FY26 | Standalone | 29 Oct 2025 | PDF on NSE XBRL |
| Q1 FY26 | Consolidated | 28 Jul 2025 | PDF on NSE XBRL |
| Q1 FY26 | Standalone | 28 Jul 2025 | PDF on NSE XBRL |
Annual reports
NSE archiveKey ratios
P/E (TTM)5Y avg 119.7×-24.7×
P/B5Y avg 6.70×4.22×
ROEFY26, on average equity-25.9%
Net margin-18.0%
Debt / equity1.15×
Revenue CAGR (3Y)-10.6%
Profit CAGR (3Y)–
EPS (TTM)₹-29.87
Market cap₹1,647 Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
4.22×
vs 8-point avg 6.70× (−37%)
3.08× low6.70× avg9.67× high
History points are balance-sheet dates (2022 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹942 Cr+7%
Net worth₹391 Cr+66%
Total borrowings₹449 Cr−19%
Cash & bank balances₹10 Cr+1646%
Investments₹0 Cr+0%
Inventories₹138 Cr−14%
Trade receivables₹248 Cr+68%
Trade payables₹88 Cr+7%
Change vs the same date a year earlier.
Revenue mix FY25
Outside India68.4%result ₹0 Cr
Within India31.6%result ₹0 Cr
Segment revenue as reported, before inter-segment eliminations.