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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	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	Q4 FY18
Revenue from operations	1,752	1,597	2,232	3,099	1,455	987	1,674	1,303	705	453	1,814	1,690	1,368	2,865	1,683	1,481	1,240	2,021	1,104	654	699	879	638	640	628	860	630	575	0	0
Other income	0	0.1	−0.1	−0.1	−0	−0	0	0	0	0.1	−0.9	0.2	0.6	−1.3	−2.6	−3.1	−1.3	−0	0.1	−0.9	19	0.5	1.3	−0	4.9	11.5	−2.5	0.3	0	0
Total expenses	1,375	1,257	1,785	2,453	1,155	813	1,323	1,037	650	484	1,330	1,245	1,046	2,118	1,236	1,091	923	1,516	814	507	527	691	498	501	475	681	481	427	0	0
EBITDA	469	423	527	802	380	256	427	338	130	40.4	551	518	391	816	510	456	384	569	349	205	226	250	197	192	201	229	198	187	0	0
EBITDA margin	26.8%	26.5%	23.6%	25.9%	26.1%	26.0%	25.5%	25.9%	18.5%	8.9%	30.4%	30.6%	28.6%	28.5%	30.3%	30.8%	30.9%	28.1%	31.7%	31.3%	32.3%	28.5%	30.9%	30.0%	32.0%	26.7%	31.4%	32.5%	–	–
Finance costs	0	0	0	0	0	0	0	0	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0	−4.9	1.6	1.7	1.6	1.6	0.3	1.6	2.8	0	0
Depreciation	92.4	83.9	80.5	156	79.7	82.2	76.4	72	75.3	70.6	66.5	72.3	69.2	68.2	62.2	65.9	65.7	63.1	59.8	57.7	59	60.7	55.3	51.1	46	50.6	47.1	35.7	0	0
Profit before tax	377	339	447	646	300	174	351	266	54.8	−30.2	483	446	323	746	445	387	317	506	290	146	191	188	142	139	158	190	146	123	0	0
Tax	115	132	136	202	89.3	53.4	107	79.7	17.4	−6	131	124	93.5	202	124	109	93.5	134	77.5	40.7	51.1	49.8	38.5	37.6	50.5	45.8	41	39.7	0	0
Net profit	262	208	311	444	211	121	244	186	37.5	−24.2	352	321	229	544	321	277	223	371	212	106	140	139	103	101	108	144	105	83.2	0	0
Net margin	14.9%	13.0%	13.9%	14.3%	14.5%	12.2%	14.5%	14.3%	5.3%	-5.3%	19.4%	19.0%	16.8%	19.0%	19.1%	18.7%	18.0%	18.4%	19.2%	16.1%	20.0%	15.8%	16.1%	15.9%	17.1%	16.7%	16.8%	14.5%	–	–
EPS (₹)	1.30	1.02	1.54	2.20	1.04	0.60	1.21	0.92	0.19	-0.12	1.74	1.59	1.14	2.69	1.59	1.37	1.11	3.57	2.04	2.08	2.76	2.73	2.03	2.00	2.26	3.02	2.21	1.75	0.00	0.00
Net profit YoY	+24.0%	+72.2%	+27.5%	+138.3%	–	+222.2%	+1106.5%	−47.1%	−83.7%	−104.4%	+9.8%	+16.0%	+2.7%	+46.4%	+51.2%	+162.7%	+59.3%	+168.0%	+106.0%	+4.1%	+30.1%	−3.6%	−2.3%	+21.9%	–	–	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Revenue from operations	6,928	5,147	4,662	7,397	5,020	2,856	2,692	2,580	2,421
Other income	−0	−0	0	−6.5	−2.2	20.8	14.1	−2.5	−0.5
Total expenses	5,496	4,132	3,708	5,490	3,759	2,217	2,064	1,969	1,830
EBITDA	1,752	1,322	1,239	2,173	1,507	865	814	759	714
EBITDA margin	25.3%	25.7%	26.6%	29.4%	30.0%	30.3%	30.2%	29.4%	29.5%
Finance costs	0	0	0.3	0.4	0.3	0.1	6.3	13.2	14.8
Depreciation	320	307	285	266	246	226	180	135	108
Profit before tax	1,432	1,015	954	1,900	1,258	660	617	609	590
Tax	470	305	267	529	346	177	177	165	183
Net profit	962	710	688	1,371	912	483	440	444	407
Net margin	13.9%	13.8%	14.7%	18.5%	18.2%	16.9%	16.3%	17.2%	16.8%
EPS (₹)	4.76	3.52	3.41	6.79	4.52	9.51	9.24	9.32	8.55
Net profit YoY	+35.5%	+3.3%	−49.9%	+50.3%	+88.9%	+9.7%	−0.9%	+9.1%	–

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	103	178	133	703	−1
Investing cash flow	−576	−379	−410	−266	−217
Financing cash flow	736	−4.2	0	230	836
Capital expenditure	0	0	10.2	10.6	26.4
Free cash flow (CFO − capex)	103	178	123	692	−27.4

Net profit trend

annual, ₹ crore

FY21

₹483

FY22

₹912+89%

FY23

₹1,371+50%

FY24

₹688−50%

FY25

₹710+3%

FY26

₹962+36%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	14 Aug 2026	PDF on NSE XBRL
Q1 FY27	Standalone	14 Aug 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	7 Jun 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	–	PDF XBRL
Q4 FY26	Standalone · audited	–	PDF XBRL
Q4 FY26	Standalone · audited	7 Jun 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	14 Feb 2026	PDF on NSE XBRL
Q3 FY26	Standalone	14 Feb 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	19 Nov 2025	PDF XBRL
Q2 FY26	Consolidated	–	PDF XBRL

Annual reports

NSE archive

FY266.82 MB FY2528.62 MB FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 2.7×1.6×

P/B5Y avg 0.41×0.18×

ROEFY26, on average equity10.0%

Net margin13.9%

Debt / equity0.00×

Revenue CAGR (3Y)-2.2%

Profit CAGR (3Y)-11.1%

EPS (TTM)₹6.06

Market cap₹1,928 Cr

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

P/B vs history

0.18×

vs 8-point avg 0.41× (−56%)

0.16× low0.41× avg1.10× high

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

Balance sheet 31 Mar 2026

Total assets₹11,989 Cr+22%

Net worth₹10,571 Cr+22%

Total borrowings₹0 Cr

Cash & bank balances₹1,415 Cr+23%

Investments₹627 Cr+8%

Inventories₹0 Cr

Trade receivables₹5,186 Cr+32%

Trade payables₹544 Cr+51%

Change vs the same date a year earlier.

Revenue mix FY26

Digital Market segment93.9%result ₹1,432 Cr

Software development segment6.1%result ₹0.1 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	18.38	18.38	18.38	18.38	18.38	18.38	18.38	18.38	18.38	18.38	18.38	18.38
FII	1.12	1.31	1.67	1.59	8.00	8.00	8.00	9.00	9.39	10.70	10.53	9.53
DII	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.15	0.18	0.11
Retail	68.52	68.31	68.21	68.49	65.31	65.31	65.31	65.16	64.18	61.74	60.40	60.61
Other public	11.98	12.00	11.74	11.54	8.31	8.31	8.31	7.46	8.05	9.03	10.51	11.37

5,55,405 shareholders · NSE shareholding pattern filings.