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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	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	112	124	115	82.5	68.4	70.4	64.6	64	64.9	59.8	57.3	52.8	44.2	45.4	38.6	28.3	8.2	7.5	0	0	2.1	311	277	265	240	259	261	255	243	217
Other income	7.2	8.2	9.7	5.2	8.6	7.6	5.7	3.7	4.2	5.9	4.8	4.8	3.6	6	2.6	2.5	1.4	1.2	0	0	3.7	2.3	6.4	4.3	6.7	4.3	5.7	8.5	9.1	4.9
Total expenses	117	128	123	94.6	87.7	87	79.9	79.7	82.8	71	86	86	66.5	65	54.6	44	17.5	12.3	0	0	3.5	282	249	243	227	241	249	234	220	206
EBITDA	30.3	30.3	28	21.3	13.3	15.6	11.7	10.9	7.8	14.5	−2.1	−7.6	−1.8	−1.7	−0.6	−6	−7.6	−3.8	0	0	−1.2	40.6	36.6	31	22	27	19.6	28.1	26.5	16.2
EBITDA margin	27.1%	24.4%	24.4%	25.8%	19.5%	22.2%	18.0%	17.1%	12.1%	24.3%	-3.6%	-14.4%	-4.0%	-3.8%	-1.6%	-21.1%	-93.3%	-50.6%	–	–	-57.5%	13.1%	13.2%	11.7%	9.2%	10.4%	7.5%	11.0%	10.9%	7.5%
Finance costs	6.9	6.9	8	7.8	8.1	9.3	6.1	6.9	6.9	7.6	6.9	7	4.5	3.8	2.5	1.7	0.2	0.1	0	0	0	0.6	0.6	0.4	0.5	0.5	1	1	0.7	1.8
Depreciation	28.3	27.9	27.7	25.6	24.5	22.9	20.8	19.7	18.9	18.1	19.7	18.6	16.1	14.2	12.9	8.1	1.5	0.9	0	0	0.2	10.9	8.6	8.4	8.5	8.5	6.6	6	3.5	3.9
Profit before tax	2.3	3.7	2	−7	−10.8	−9	−9.6	−12.1	−13.8	−6.7	−23.9	−28.5	−18.8	−13.7	−13.4	−13.2	−7.9	−3.6	0	0	3,068	17.7	39.2	36	19.8	22.4	17.7	26.5	37.2	15.4
Tax	1.6	−1.6	−0.2	−1.1	−0.8	0.9	−1.1	0.1	−3.1	−2	−2.6	−4.6	−2.7	−3.9	−2.5	−2.8	−1.9	−0.7	0	0	726	6.2	7.9	5.9	3	10.3	7.1	6.7	10.7	5.3
Net profit	45.2	16.4	2.7	−8.4	−10	−9.9	−8.5	−12.2	−10.7	−4.7	−21.3	−23.9	−16.1	−9.8	−10.9	−10.8	−6.5	−2.9	0	0	2,377	11.4	31.4	30.1	16.8	12	10.6	19.8	26.4	10.1
Net margin	40.4%	13.3%	2.4%	-10.2%	-14.6%	-14.0%	-13.2%	-19.0%	-16.5%	-7.8%	-37.2%	-45.3%	-36.5%	-21.7%	-28.4%	-38.2%	-79.3%	-38.0%	–	–	112100.9%	3.7%	11.3%	11.3%	7.0%	4.6%	4.1%	7.8%	10.9%	4.7%
EPS (₹)	0.01	0.58	0.46	-1.26	-1.48	-1.33	-1.18	-1.16	-2.52	-1.14	-4.71	-5.10	-3.21	-1.52	-2.17	-2.24	-1.71	-0.82	0.00	0.00	815.49	3.06	8.18	8.22	4.87	2.98	3.03	5.29	6.78	2.97
Net profit YoY	+550.9%	+266.6%	+131.8%	+30.8%	+6.4%	−112.3%	+60.1%	+49.1%	+33.6%	+52.7%	−94.9%	−120.8%	–	−51.5%	−282.5%	–	–	–	−100.0%	−100.0%	+14054.5%	−4.8%	+194.6%	+52.1%	−36.4%	–	+5.5%	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Revenue from operations	381	264	214	127	15.8	9.5	1,040	988	806
Other income	31.3	21.1	19	12.2	5.2	43.7	21.7	28.1	10.9
Total expenses	424	329	309	189	37.1	20.4	960	916	806
EBITDA	88.2	46	3.1	−15.1	−18.3	−10.1	117	95.2	22.6
EBITDA margin	23.1%	17.4%	1.4%	-11.9%	-115.9%	-106.4%	11.2%	9.6%	2.8%
Finance costs	26.9	29.2	26	8.5	0.3	0.1	2	3.6	4.9
Depreciation	104	82.4	72.5	38.5	2.8	0.7	34	19.6	17.9
Profit before tax	−11.1	−44.5	−77.8	−49.9	−16.1	3,101	117	103	21.3
Tax	−3.3	−3.2	−11.9	−10.8	−3.5	733	27.1	31.1	18.5
Net profit	0.7	−41.2	−66	−40.3	−13.3	2,413	90.2	71.7	2.8
Net margin	0.2%	-15.6%	-30.8%	-31.8%	-84.0%	25371.8%	8.7%	7.3%	0.3%
EPS (₹)	-1.69	-6.16	-14.16	-7.51	-3.90	813.29	24.28	19.14	2.60
Net profit YoY	+101.7%	+37.5%	−63.6%	−203.7%	−100.5%	+2574.4%	+25.8%	+2462.1%	–

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	54.5	27.7	20.2	−50.1	−24.3
Investing cash flow	−85.7	−42.3	−166	−45.5	55.2
Financing cash flow	34.6	17	122	80	−1
Capital expenditure	1.1	19.4	92.7	18.8	8.8
Free cash flow (CFO − capex)	53.4	8.3	−72.4	−68.9	−33.1

Net profit trend

annual, ₹ crore

FY21

₹2,413

FY22

₹−13.3−101%

FY23

₹−40.3−204%

FY24

₹−66−64%

FY25

₹−41.2+37%

FY26

₹0.7+102%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	20 Jul 2026	PDF on NSE XBRL
Q1 FY27	Standalone	20 Jul 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	–	PDF on NSE XBRL
Q4 FY26	Consolidated	23 Apr 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	–	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	–	PDF on NSE XBRL
Q4 FY26	Standalone · audited	–	PDF on NSE XBRL
Q4 FY26	Standalone · audited	23 Apr 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	–	PDF on NSE XBRL
Q4 FY26	Standalone · audited	–	PDF on NSE XBRL

Annual reports

NSE archive

FY259.10 MB FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17 FY16

Key ratios

P/E (TTM)5Y avg 1666.9×30.4×

P/B5Y avg 4.21×3.36×

ROEFY26, on average equity0.2%

Net margin0.2%

Debt / equity0.00×

Revenue CAGR (3Y)44.3%

Profit CAGR (3Y)–

EPS (TTM)₹7.32

Market cap₹1,700 Cr

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

P/B vs history

3.36×

vs 8-point avg 4.21× (−20%)

2.34× low4.21× avg5.82× high

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

Balance sheet 31 Mar 2026

Total assets₹948 Cr+41%

Net worth₹506 Cr+85%

Total borrowings₹2 Cr−98%

Cash & bank balances₹18 Cr+82%

Investments₹79 Cr+59%

Inventories₹0 Cr

Trade receivables₹52 Cr+80%

Trade payables₹32 Cr−1%

Change vs the same date a year earlier.

Revenue mix FY26

Rental54.0%result ₹−14.9 Cr

Distribution44.0%result ₹32.3 Cr

Capital2.0%result ₹−5.3 Cr

Segment revenue as reported, before inter-segment eliminations.

Shareholding 30 Jun 2026

%	Jun 26	Mar 26	Dec 25	Sept 25	Sept 25	Jun 25	May 25	Mar 25	Dec 24	Sept 24	Jun 24	Mar 24
Promoter	47.89	47.41	47.37	47.04	47.04	49.81	49.84	49.89	49.91	49.95	49.96	50.06
FII	0.42	0.13	0.12	0.36	0.36	0.38	0.38	0.38	0.38	0.39	0.00	0.01
Retail	31.87	31.79	31.86	31.04	30.97	32.67	32.99	33.01	33.36	33.44	34.76	34.09
Other public	19.82	20.67	20.65	21.56	21.63	17.14	16.79	16.72	16.35	16.22	15.28	15.84

55,252 shareholders · NSE shareholding pattern filings.