Your investments deserve an analyst, not a dashboard.

Quarterly results

standalone · as filed with NSE · Q1 FY27 back to Q4 FY17

₹ 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	Q3 FY21	Q2 FY21	Q1 FY21	Q4 FY20	Q3 FY20	Q2 FY20	Q1 FY20	Q4 FY19	Q3 FY19	Q2 FY19	Q1 FY19	Q4 FY17
Revenue from operations	779	671	638	668	717	679	617	632	708	620	594	798	682	846	675	589	759	747	620	619	696	620	563	773	871	437	478	532	522	480	596	444
Other income	1.8	1.7	1	2	0.3	−0.7	1.7	2.4	0.3	1.3	0.7	1.2	0.3	1.9	1.9	5.2	1.6	0.5	1.5	0.5	3.6	0.7	0.2	0.3	1	3.9	0.3	2.4	0.3	0.6	0.3	2.8
Total expenses	781	588	610	681	730	568	608	633	695	537	561	754	648	737	649	619	706	703	582	590	693	611	548	713	859	450	437	425	500	505	550	496
EBITDA	36.5	120	55.4	17.9	28.2	149	35.9	33.6	57.2	121	58.9	77.1	72.8	140	50.4	0.5	84.9	73.1	74.8	70	42.9	53.9	55.4	95.1	47.7	32.4	86.2	146	49.6	9.6	86.6	−12.4
EBITDA margin	4.7%	17.8%	8.7%	2.7%	3.9%	22.0%	5.8%	5.3%	8.1%	19.6%	9.9%	9.7%	10.7%	16.5%	7.5%	0.1%	11.2%	9.8%	12.1%	11.3%	6.2%	8.7%	9.8%	12.3%	5.5%	7.4%	18.0%	27.4%	9.5%	2.0%	14.5%	-2.8%
Finance costs	22.3	21.3	10.9	15.8	26.1	24	12.1	20	29.7	23	12.2	20.5	25.8	17.7	11.6	18.2	19.7	16.2	24.1	28.5	26.4	33	28.7	23.2	25	33.7	34.2	27.9	16.6	22.9	29.5	29
Depreciation	15.6	15.7	15.9	14.9	15	14.7	14.7	14.4	14.3	15	13.7	13.4	13.1	13.2	13	12.4	12.6	13	13	12.8	12.7	11.6	11.4	11.5	11.2	11.2	11	10.8	10.9	11	10.9	11
Profit before tax	0.4	85.3	26.6	−10.8	−12.6	110	10.8	1.7	13.5	84.5	33.6	44.4	34.1	111	27.7	−25	54.4	44.4	39.2	29.2	7.4	10	15.5	60.8	12.6	−8.6	41.3	109	22.3	−23.7	46.6	−49.5
Tax	0.1	29.6	9.9	−4.2	−4.2	38.2	4.1	0.9	4.8	29.2	11.9	15.6	11.9	31.5	10	−8.7	3	15.6	14	10.2	3.6	2.8	5.5	0.3	5.1	−2.9	14.9	24	5.1	−4.9	10.3	−10.2
Net profit	0.2	55.6	16.7	−6.6	−8.4	71.7	6.7	0.8	8.7	55.3	21.8	28.9	22.2	79.1	17.7	−16.3	51.4	28.9	25.2	18.9	3.7	7.2	10	60.5	7.5	−5.8	26.4	85.2	17.2	−18.8	36.3	−39.4
Net margin	0.0%	8.3%	2.6%	-1.0%	-1.2%	10.6%	1.1%	0.1%	1.2%	8.9%	3.7%	3.6%	3.3%	9.3%	2.6%	-2.8%	6.8%	3.9%	4.1%	3.1%	0.5%	1.2%	1.8%	7.8%	0.9%	-1.3%	5.5%	16.0%	3.3%	-3.9%	6.1%	-8.9%
EPS (₹)	0.12	27.78	8.35	-3.30	-4.20	35.81	3.37	0.41	4.34	27.62	10.89	14.42	11.07	39.51	8.86	-8.14	25.66	0.00	12.61	9.47	1.86	3.60	5.02	30.23	3.74	-2.88	13.18	85.14	17.20	-18.82	36.24	39.32
Net profit YoY	+102.8%	−22.4%	+147.7%	−894.4%	−196.8%	+29.6%	−69.1%	−97.1%	−60.8%	−30.1%	+22.8%	+277.3%	–	+54.0%	−38.6%	−164.5%	–	+674.5%	+250.3%	+88.6%	−50.3%	+225.0%	−61.9%	−29.0%	−56.5%	+69.4%	−27.3%	–	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY20	FY19	FY17
Revenue from operations	2,694	2,636	2,694	2,798	2,744	2,559	2,130	604
Other income	5.1	3.8	3.5	9.3	4.1	5.6	3.5	1.1
Total expenses	2,608	2,503	2,500	2,664	2,581	2,459	1,979	508
EBITDA	221	276	330	255	303	261	291	147
EBITDA margin	8.2%	10.5%	12.3%	9.1%	11.0%	10.2%	13.7%	24.4%
Finance costs	74.1	85.8	81.6	69.3	88.4	116	96.9	39.9
Depreciation	61.5	58.1	55.3	51.1	51.3	44.9	43.7	11.4
Profit before tax	88.4	136	197	144	167	106	154	96.8
Tax	31.1	48	68.6	43.4	42.8	17.5	34.5	17.1
Net profit	57.3	87.9	128	100	124	88.6	120	79.8
Net margin	2.1%	3.3%	4.8%	3.6%	4.5%	3.5%	5.6%	13.2%
EPS (₹)	28.63	43.93	64.00	50.07	62.15	44.27	119.76	79.68
Net profit YoY	−34.8%	−31.4%	+27.8%	−19.4%	–	−26.1%	–	–

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	158	154	−76.9	364	314
Investing cash flow	−97.9	−98.9	−70	−124	−53.6
Financing cash flow	−61.3	−52.8	147	−239	−264
Capital expenditure	109	107	78.7	133	55.4
Free cash flow (CFO − capex)	48.8	47.3	−156	230	258

Net profit trend

annual, ₹ crore

FY20

₹88.6

FY22

₹124+40%

FY23

₹100−19%

FY24

₹128+28%

FY25

₹87.9−31%

FY26

₹57.3−35%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Standalone	3 Aug 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	12 May 2026	PDF on NSE XBRL
Q3 FY26	Standalone	5 Feb 2026	PDF on NSE XBRL
Q2 FY26	Standalone	10 Nov 2025	PDF XBRL
Q1 FY26	Standalone	4 Aug 2025	PDF XBRL
Q4 FY25	Standalone · audited	12 May 2025	PDF on NSE XBRL
Q3 FY25	Standalone	11 Feb 2025	PDF on NSE XBRL
Q2 FY25	Standalone	13 Nov 2024	PDF on NSE XBRL
Q1 FY25	Standalone	12 Aug 2024	PDF on NSE XBRL
Q4 FY24	Standalone · audited	14 May 2024	PDF on NSE XBRL

Annual reports

NSE archive

FY264.06 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 10.9×24.2×

P/B5Y avg 1.08×1.42×

ROEFY26, on average equity5.1%

Net margin2.1%

Debt / equity1.25×

Revenue CAGR (3Y)-1.3%

Profit CAGR (3Y)-17.0%

EPS (TTM)₹32.95

Market cap₹1,594 Cr

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

P/B vs history

1.42×

vs 8-point avg 1.08× (+32%)

0.79× low1.08× avg1.49× high

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

Balance sheet 31 Mar 2026

Total assets₹2,880 Cr+0%

Net worth₹1,124 Cr+2%

Total borrowings₹1,406 Cr+3%

Cash & bank balances₹2 Cr−46%

Investments₹72 Cr−19%

Inventories₹1,433 Cr−1%

Trade receivables₹59 Cr+5%

Trade payables₹177 Cr−31%

Change vs the same date a year earlier.

Revenue mix FY26

SUGAR76.9%result ₹102 Cr

DISTILLERY15.8%result ₹42 Cr

CO-GENERATION6.8%result ₹34.5 Cr

OTHERS0.5%result ₹0.3 Cr

Segment revenue as reported, before inter-segment eliminations.

Shareholding 30 Jun 2026

%	Jun 26	Mar 26	Dec 25	Sept 25	Jun 25	Mar 25	Dec 24	Sept 24	Jun 24	Mar 24	Dec 23	Sept 23
Promoter	60.39	60.39	60.39	60.39	60.39	60.39	60.39	60.39	60.39	60.39	60.39	60.39
FII	1.47	1.76	1.78	1.79	1.99	1.95	2.52	4.53	3.74	4.13	4.19	3.88
DII	0.27	0.26	1.26	1.26	1.26	1.23	0.98	0.98	1.04	0.98	0.85	0.31
of which MF	0.01	0.01	0.01	0.01	0.01	–	–	–	–	–	–	–
Retail	27.28	27.08	27.37	26.37	26.35	27.26	26.12	24.39	26.15	25.19	24.60	25.69
Other public	10.59	10.51	9.20	10.19	10.01	9.17	9.99	9.71	8.68	9.31	9.97	9.73

22,779 shareholders · NSE shareholding pattern filings.