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Quarterly results

consolidated · as filed with NSE · Q1 FY27 back to Q2 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	Q4 FY19	Q3 FY19	Q4 FY18	Q2 FY18
Revenue from operations	29,359	20,455	19,438	20,034	18,683	20,581	15,683	14,425	20,361	20,823	20,454	20,010	17,986	21,350	19,214	22,894	20,997	13,592	13,088	12,797	14,705	11,458	9,733	5,941	11,769	11,965	12,192	12,765	12,005	0	15,084
Other income	17.7	20.9	29	6.2	9.3	12.4	4.4	4.4	4.1	3.5	2.5	2.4	2.2	1.8	4.2	4	13.3	0.6	2.1	1.8	29	44.6	43.3	45.5	24.9	24.1	9.6	11.7	9.9	0	14
Total expenses	28,011	18,586	18,150	19,075	18,773	20,011	15,674	15,305	19,896	19,983	19,975	18,427	17,240	19,964	19,032	22,871	19,644	13,291	13,007	12,725	14,401	11,450	9,321	5,556	14,182	11,980	12,511	12,823	12,570	0	15,054
EBITDA	1,555	2,036	1,478	1,144	98.6	785	242	−674	663	1,042	680	1,804	950	1,627	432	228	1,582	546	305	291	522	198	608	622	−2,128	203	−114	179	−345	0	244
EBITDA margin	5.3%	10.0%	7.6%	5.7%	0.5%	3.8%	1.5%	-4.7%	3.3%	5.0%	3.3%	9.0%	5.3%	7.6%	2.2%	1.0%	7.5%	4.0%	2.3%	2.3%	3.5%	1.7%	6.2%	10.5%	-18.1%	1.7%	-0.9%	1.4%	-2.9%	–	1.6%
Finance costs	52.1	16.4	32.7	34	37	65.8	79.2	51.9	47.7	50.9	50	65.1	57.2	84.1	108	61.4	95.9	113	103	100	94.7	76.9	79.2	124	113	96.4	99.1	107	109	0	105
Depreciation	155	150	157	152	151	150	153	154	150	151	151	157	147	157	141	143	132	132	121	119	123	113	118	113	172	122	106	131	111	0	108
Profit before tax	1,366	1,890	1,317	965	−80.1	582	14.1	−876	470	844	481	1,585	747	1,388	186	27.6	1,367	301	83.5	73.8	333	52.9	455	430	−2,388	9.2	−310	−46.6	−555	0	44.5
Tax	349	491	330	263	−23.5	132	3.7	−228	127	231	121	397	199	383	43.3	7.6	373	72.5	24	20.1	101	609	170	158	−751	2.7	−91	−17.1	−188	0	23.5
Net profit	1,031	1,422	1,002	719	−40.1	470	20.8	−634	357	628	365	1,195	557	1,013	144	16.9	1,002	232	61.1	56.7	242	−546	292	270	−1,625	11.3	−214	−24.9	−363	0	23.6
Net margin	3.5%	7.0%	5.2%	3.6%	-0.2%	2.3%	0.1%	-4.4%	1.8%	3.0%	1.8%	6.0%	3.1%	4.7%	0.8%	0.1%	4.8%	1.7%	0.5%	0.4%	1.6%	-4.8%	3.0%	4.5%	-13.8%	0.1%	-1.8%	-0.2%	-3.0%	–	0.2%
EPS (₹)	69.26	95.48	67.26	48.30	-2.69	31.56	1.40	-42.56	23.98	42.17	24.53	80.28	37.37	68.01	9.68	1.14	67.28	15.61	4.10	3.80	16.25	-36.69	19.60	18.12	-109.11	0.76	-14.35	-1.67	-24.38	0.00	1.58
Net profit YoY	+2671.9%	+202.6%	+4720.0%	+213.5%	−111.2%	−25.2%	−94.3%	−153.0%	−35.8%	−38.0%	+153.3%	+6960.9%	–	+1.1%	−38.0%	−72.3%	+314.1%	+142.5%	−79.1%	−79.0%	+114.9%	−4939.8%	+236.6%	–	−6427.6%	+103.1%	–	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Revenue from operations	78,611	71,050	79,273	90,908	60,474	41,899	48,650	52,201	44,189
Other income	65.4	25.2	10.5	7.2	17.7	101	72.9	52.8	32.8
Total expenses	74,584	70,885	75,626	86,115	58,666	40,729	51,745	52,558	42,769
EBITDA	4,757	1,016	4,476	5,697	2,724	2,012	−2,159	516	2,086
EBITDA margin	6.1%	1.4%	5.6%	6.3%	4.5%	4.8%	-4.4%	1.0%	4.7%
Finance costs	120	245	223	330	412	375	413	420	321
Depreciation	610	607	606	573	504	467	523	453	345
Profit before tax	4,092	190	3,657	4,801	1,826	1,271	−3,022	−304	1,453
Tax	1,060	34.6	949	1,275	489	1,039	−938	−84.7	545
Net profit	3,103	214	2,745	3,532	1,352	257	−2,056	−205	927
Net margin	3.9%	0.3%	3.5%	3.9%	2.2%	0.6%	-4.2%	-0.4%	2.1%
EPS (₹)	208.36	14.38	184.34	237.16	90.80	17.28	-138.10	-13.79	62.27
Net profit YoY	+1349.3%	−92.2%	−22.3%	+161.2%	+425.6%	+112.5%	−901.4%	−122.1%	–

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	2,945	1,352	2,694	6,786	1,026
Investing cash flow	−930	−649	−589	−417	−676
Financing cash flow	−1,294	−519	−2,106	−6,361	−343
Capital expenditure	903	685	603	418	700
Free cash flow (CFO − capex)	2,042	667	2,092	6,368	326

Net profit trend

annual, ₹ crore

FY21

₹257

FY22

₹1,352+426%

FY23

₹3,532+161%

FY24

₹2,745−22%

FY25

₹214−92%

FY26

₹3,103+1349%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated · audited	23 Jul 2026	PDF on NSE XBRL
Q1 FY27	Standalone · audited	23 Jul 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	24 Apr 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	24 Apr 2026	PDF on NSE XBRL
Q3 FY26	Consolidated · audited	24 Jan 2026	PDF on NSE XBRL
Q3 FY26	Standalone · audited	24 Jan 2026	PDF on NSE XBRL
Q2 FY26	Consolidated · audited	27 Oct 2025	PDF on NSE XBRL
Q2 FY26	Standalone · audited	27 Oct 2025	PDF on NSE XBRL
Q1 FY26	Consolidated	25 Jul 2025	PDF on NSE XBRL
Q1 FY26	Standalone · audited	25 Jul 2025	PDF on NSE XBRL

Annual reports

NSE archive

FY2613.03 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 13.3×4.9×

P/B5Y avg 1.15×1.84×

ROEFY26, on average equity32.1%

Net margin3.9%

Debt / equity0.18×

Revenue CAGR (3Y)-4.7%

Profit CAGR (3Y)-4.2%

EPS (TTM)₹280.30

Market cap₹20,496 Cr

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

P/B vs history

1.84×

vs 8-point avg 1.15× (+60%)

0.55× low1.15× avg1.84× high

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

Balance sheet 31 Mar 2026

Total assets₹20,035 Cr+17%

Net worth₹11,109 Cr+35%

Total borrowings₹1,951 Cr−37%

Cash & bank balances₹905 Cr+392%

Investments₹85 Cr

Inventories₹8,149 Cr+25%

Trade receivables₹235 Cr+21%

Trade payables₹3,890 Cr+23%

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	67.29	67.29	67.29	67.29	67.29	67.29	67.29	67.29	67.29	67.29	67.29	67.29
FII	14.99	12.59	12.87	8.80	8.79	10.58	11.08	16.17	15.78	15.86	14.69	11.37
DII	1.01	2.11	1.02	2.60	2.48	2.24	1.81	0.30	0.80	0.75	1.25	1.76
of which MF	0.70	1.58	0.66	1.95	1.77	–	–	–	–	–	–	–
Retail	13.63	14.71	15.27	17.36	18.03	16.77	16.62	13.71	13.45	13.51	13.75	15.95
Other public	3.08	3.30	3.55	3.95	3.41	3.12	3.20	2.53	2.68	2.59	3.02	3.63

1,49,620 shareholders · NSE shareholding pattern filings.