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Quarterly results

consolidated · 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	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 FY18	Q2 FY18	Q4 FY17
Revenue from operations	709	588	490	480	454	451	443	429	422	394	339	330	332	390	316	396	459	597	562	470	422	433	366	310	118	368	326	308	372	344	334	393	0
Other income	6.1	2.6	15.1	19.9	4	2.3	1.9	5.1	2.5	5.4	4.6	5.9	8.8	3.9	2.2	1.7	3.8	2.6	6.6	1.8	6.4	−0.1	7	4.6	4.5	3.7	4.8	0	1.9	7.4	0.5	3	0
Total expenses	676	555	504	495	446	442	436	433	426	401	341	334	338	389	315	383	434	562	514	437	390	400	339	298	150	341	317	293	333	309	287	328	0
EBITDA	68.9	68.6	22	23	47.6	47.3	44.5	32.7	34.4	25.1	23.9	23.5	22.2	26.9	24.5	32.1	49.8	53.8	68.3	48.6	48.9	46.2	38.6	22.7	−20.9	39.9	23	25.8	48.9	43.8	55.7	72.8	0
EBITDA margin	9.7%	11.7%	4.5%	4.8%	10.5%	10.5%	10.0%	7.6%	8.2%	6.4%	7.1%	7.1%	6.7%	6.9%	7.8%	8.1%	10.9%	9.0%	12.2%	10.3%	11.6%	10.7%	10.5%	7.3%	-17.8%	10.8%	7.1%	8.4%	13.1%	12.7%	16.7%	18.5%	–
Finance costs	18.6	17.8	19.4	19.9	21.6	21	19.7	19.5	21.3	15.6	12.1	13.4	13.1	11.6	10.1	7.3	12.1	6.4	9.2	6.3	7.5	5.8	3.5	3.5	3.9	4.8	6.8	4.5	3	2.8	2.7	2	0
Depreciation	17.4	17.3	17.5	17.4	17.5	17	17.3	17.2	17	17	14.5	14.3	14.7	14.6	13.9	12.2	12.3	11.9	11.6	9.8	9.7	7.8	7.6	7.6	7.3	7.4	7	6.7	6.6	5.8	5.5	5.4	0
Profit before tax	39.1	36.1	0.2	5.6	12.5	11.6	8.2	1	−1.4	−2.1	1.9	1.7	3.2	4.6	2.7	14.3	29.2	38	35.4	34.2	38.1	32.5	34.6	16.2	−27.6	31.4	14	14.6	41.2	42.7	48	68.5	0
Tax	8.7	4	−0	−0.4	3	−2.9	2.8	1.2	−0.3	−4.1	0.9	0.4	1	1.8	0.3	4.1	6.7	9.2	15.3	10.6	9.3	10.7	7.4	5.1	−7.7	5.4	1.2	−6.7	14.7	13.3	19.6	23.4	0
Net profit	30.4	32.1	0.2	6	9.5	14.5	5.4	−0.2	−1.2	2	1	1.2	2.2	2.8	2.4	10.3	22.5	28.8	20.1	23.6	28.8	21.7	27.2	11	−20	26.1	12.9	21.3	26.4	29.4	28.5	45	0
Net margin	4.3%	5.5%	0.0%	1.2%	2.1%	3.2%	1.2%	-0.1%	-0.3%	0.5%	0.3%	0.4%	0.7%	0.7%	0.8%	2.6%	4.9%	4.8%	3.6%	5.0%	6.8%	5.0%	7.4%	3.6%	-16.9%	7.1%	3.9%	6.9%	7.1%	8.5%	8.5%	11.5%	–
EPS (₹)	2.41	2.55	0.02	0.47	0.76	1.15	0.43	-0.02	-0.09	0.16	0.08	0.09	0.18	0.22	0.19	0.78	1.95	2.52	2.21	2.06	2.44	1.75	2.16	0.95	-1.60	2.21	1.05	1.74	2.16	2.40	2.33	3.69	0.00
Net profit YoY	+218.7%	+121.0%	−95.5%	+2576.4%	+911.3%	+610.6%	+455.4%	−119.5%	−153.2%	−27.4%	−59.8%	−87.9%	−90.2%	−90.3%	−87.9%	−56.4%	−21.8%	+32.7%	−26.2%	+113.7%	+244.4%	−16.6%	+111.4%	−48.1%	−175.5%	−11.2%	–	–	–	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY17
Revenue from operations	2,012	1,745	1,395	1,574	2,051	1,226	1,375	1,424	1,166
Other income	41.6	11.8	24.8	11.6	17.3	15.9	10.4	13.4	9.5
Total expenses	1,999	1,736	1,415	1,535	1,907	1,187	1,284	1,218	989
EBITDA	161	159	94.7	133	220	86.6	138	236	194
EBITDA margin	8.0%	9.1%	6.8%	8.5%	10.7%	7.1%	10.0%	16.6%	16.7%
Finance costs	78.8	81.6	54.3	41	29.5	16.6	19	9.1	5.3
Depreciation	69.6	68.5	60.5	53.1	46.6	30.5	27.8	21.2	12.1
Profit before tax	54.4	19.3	4.7	50.8	142	55.4	101	219	186
Tax	6.5	0.8	−1.7	12.8	43.4	15.6	14.6	77	61.9
Net profit	47.8	18.5	6.5	38	98.7	39.8	86.6	141	122
Net margin	2.4%	1.1%	0.5%	2.4%	4.8%	3.2%	6.3%	9.9%	10.5%
EPS (₹)	3.80	1.47	0.51	3.03	8.79	3.25	7.16	11.56	10.62
Net profit YoY	+158.5%	+186.0%	−83.0%	−61.5%	+148.1%	−54.1%	−38.7%	–	–

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	176	114	204	285	−13.5
Investing cash flow	10.7	−37	−262	−310	−170
Financing cash flow	−191	−77.2	64.5	32.7	181
Capital expenditure	35.8	46.5	245	338	159
Free cash flow (CFO − capex)	140	67.3	−40.7	−52.8	−173

Net profit trend

annual, ₹ crore

FY21

₹39.8

FY22

₹98.7+148%

FY23

₹38−61%

FY24

₹6.5−83%

FY25

₹18.5+186%

FY26

₹47.8+159%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	5 Aug 2026	PDF on NSE XBRL
Q1 FY27	Standalone	5 Aug 2026	PDF on NSE XBRL
Q4 FY26	Consolidated	21 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone	21 May 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	12 Nov 2025	PDF on NSE XBRL
Q2 FY26	Standalone	12 Nov 2025	PDF on NSE XBRL
Q1 FY26	Consolidated	12 Aug 2025	PDF on NSE XBRL
Q1 FY26	Standalone	12 Aug 2025	PDF on NSE XBRL

Annual reports

NSE archive

FY2610.82 MB FY255.07 MB FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 53.8×37.0×

P/B5Y avg 0.80×2.20×

ROEFY26, on average equity4.2%

Net margin2.4%

Debt / equity0.69×

Revenue CAGR (3Y)8.5%

Profit CAGR (3Y)7.9%

EPS (TTM)₹5.45

Market cap₹2,544 Cr

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

P/B vs history

2.20×

vs 8-point avg 0.80× (+175%)

0.56× low0.80× avg2.20× high

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

Balance sheet 31 Mar 2026

Total assets₹2,356 Cr+0%

Net worth₹1,158 Cr+5%

Total borrowings₹800 Cr−12%

Cash & bank balances₹17 Cr−28%

Investments₹0 Cr−45%

Inventories₹324 Cr−4%

Trade receivables₹439 Cr+10%

Trade payables₹247 Cr+4%

Change vs the same date a year earlier.

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	57.00	57.00	57.00	57.00	57.32	57.32	57.32	57.32	57.39	57.39	57.39	57.39
FII	0.02	0.15	0.32	0.29	0.81	0.32	0.32	0.67	0.19	0.77	0.30	0.45
DII	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.01	0.01	0.05	0.01	0.03
Retail	36.15	36.13	35.88	35.93	35.33	36.16	36.41	36.31	36.60	34.61	33.80	33.23
Other public	6.83	6.72	6.80	6.78	6.54	6.20	5.95	5.69	5.81	7.18	8.50	8.90

67,902 shareholders · NSE shareholding pattern filings.