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 | Q1 FY23 | Q4 FY22 | Q3 FY22 | Q2 FY22 | Q1 FY22 | Q4 FY21 | Q2 FY21 | Q1 FY21 | Q4 FY20 | Q3 FY20 | Q4 FY19 | Q4 FY18 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 11,114 | 10,444 | 9,949 | 9,487 | 9,296 | 8,913 | 8,489 | 8,090 | 7,633 | 7,083 | 6,795 | 6,300 | 5,626 | 5,186 | 4,725 | 4,298 | 3,937 | 3,743 | 3,726 | 3,583 | 3,591 | 3,523 | 3,499 | 3,234 | 3,287 | 3,395 | 0 | 858 |
| Other income | 101 | 153 | 135 | 128 | 86.6 | 96 | 104 | 90 | 44.7 | 74.4 | 47.4 | 72.5 | 88.9 | 95.2 | 52.1 | 56.9 | 26 | 51.7 | 0.4 | 0.4 | 0.3 | 0.2 | 3.9 | 0.2 | 0 | 0.5 | 0 | 0.5 |
| Total expenses | 8,816 | 8,457 | 8,222 | 7,985 | 7,688 | 7,149 | 7,124 | 6,669 | 6,119 | 5,602 | 5,479 | 5,156 | 4,649 | 4,036 | 3,805 | 3,539 | 3,172 | 2,836 | 2,996 | 2,711 | 3,110 | 3,210 | 2,823 | 2,438 | 3,172 | 2,810 | 0 | 774 |
| EBITDA | 6,392 | 5,825 | 5,462 | 5,102 | 5,154 | 5,204 | 4,718 | 4,553 | 4,380 | 4,152 | 3,816 | 3,405 | 3,041 | 2,942 | 2,515 | 2,148 | 1,943 | 2,027 | 1,822 | 1,995 | 1,629 | 1,479 | 1,919 | 1,953 | 1,288 | 1,815 | 0 | 92.8 |
| EBITDA margin | 57.5% | 55.8% | 54.9% | 53.8% | 55.4% | 58.4% | 55.6% | 56.3% | 57.4% | 58.6% | 56.2% | 54.0% | 54.1% | 56.7% | 53.2% | 50.0% | 49.4% | 54.2% | 48.9% | 55.7% | 45.4% | 42.0% | 54.8% | 60.4% | 39.2% | 53.5% | – | 10.8% |
| Finance costs | 4,007 | 3,755 | 3,648 | 3,518 | 3,468 | 3,361 | 3,280 | 3,058 | 2,796 | 2,582 | 2,445 | 2,209 | 2,013 | 1,743 | 1,551 | 1,347 | 1,137 | 1,079 | 1,054 | 1,085 | 1,109 | 1,128 | 1,207 | 1,124 | 1,136 | 1,188 | 0 | 2.7 |
| Depreciation | 87.4 | 84.2 | 87.2 | 82.6 | 78.6 | 79.3 | 72.4 | 74.4 | 69.8 | 88.3 | 55.2 | 52.1 | 51.9 | 49.5 | 44.1 | 41.8 | 40.7 | 41.7 | 37.6 | 36.8 | 38.1 | 38.8 | 34.8 | 33.6 | 37.9 | 41.9 | 0 | 5.8 |
| Profit before tax | 2,398 | 2,140 | 1,862 | 1,630 | 1,695 | 1,860 | 1,469 | 1,512 | 1,559 | 1,556 | 1,363 | 1,216 | 1,065 | 1,245 | 972 | 816 | 791 | 958 | 731 | 873 | 482 | 313 | 681 | 796 | 114 | 585 | 0 | 84.8 |
| Tax | 611 | 517 | 477 | 417 | 437 | 500 | 378 | 387 | 400 | 430 | 336 | 325 | 270 | 346 | 249 | 207 | 204 | 267 | 188 | 222 | 124 | 98.9 | 175 | 205 | 35.7 | 155 | 0 | 21.5 |
| Net profit | 1,789 | 1,626 | 1,386 | 1,214 | 1,260 | 1,362 | 1,093 | 1,125 | 1,160 | 1,144 | 1,027 | 888 | 792 | 901 | 720 | 606 | 582 | 687 | 543 | 652 | 357 | 214 | 506 | 589 | 79.6 | 430 | 0 | 173 |
| Net margin | 16.1% | 15.6% | 13.9% | 12.8% | 13.5% | 15.3% | 12.9% | 13.9% | 15.2% | 16.1% | 15.1% | 14.1% | 14.1% | 17.4% | 15.2% | 14.1% | 14.8% | 18.3% | 14.6% | 18.2% | 9.9% | 6.1% | 14.4% | 18.2% | 2.4% | 12.7% | – | 20.1% |
| EPS (₹) | 42.92 | 36.59 | 33.32 | 29.28 | 30.81 | 32.68 | 25.89 | 27.99 | 29.20 | 27.32 | 24.88 | 22.41 | 19.78 | 21.72 | 17.69 | 15.07 | 14.25 | 16.23 | 13.26 | 16.14 | 8.86 | 4.47 | 12.73 | 15.39 | 2.13 | 10.85 | 0.00 | 9.20 |
| Net profit YoY | +42.0% | +19.3% | +26.8% | +7.9% | +8.6% | +19.1% | +6.4% | +26.7% | +46.4% | +27.0% | +42.6% | +46.5% | +35.9% | +31.2% | +32.5% | −7.0% | +63.1% | +220.4% | – | +29.0% | −39.4% | +169.4% | – | – | – | – | −100.0% | – |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 39,073 | 33,125 | 25,804 | 18,146 | 14,644 | 13,900 | 13,135 | 10,926 | 3,345 |
| Other income | 503 | 335 | 283 | 230 | 91.4 | 4.8 | 1 | 21.2 | 1.1 |
| Total expenses | 32,250 | 27,060 | 20,887 | 14,552 | 11,691 | 11,505 | 11,330 | 8,812 | 2,994 |
| EBITDA | 21,544 | 18,855 | 14,414 | 9,548 | 7,434 | 7,149 | 6,547 | 5,778 | 379 |
| EBITDA margin | 55.1% | 56.9% | 55.9% | 52.6% | 50.8% | 51.4% | 49.8% | 52.9% | 11.3% |
| Finance costs | 14,388 | 12,494 | 9,249 | 5,778 | 4,328 | 4,608 | 4,592 | 3,587 | 8.6 |
| Depreciation | 333 | 296 | 248 | 176 | 154 | 145 | 150 | 77.9 | 19.8 |
| Profit before tax | 7,326 | 6,400 | 5,200 | 3,824 | 3,044 | 2,400 | 1,806 | 2,135 | 352 |
| Tax | 1,848 | 1,666 | 1,361 | 1,006 | 801 | 636 | 642 | 721 | 107 |
| Net profit | 5,485 | 4,740 | 3,851 | 2,810 | 2,239 | 1,764 | 1,165 | 1,415 | 599 |
| Net margin | 14.0% | 14.3% | 14.9% | 15.5% | 15.3% | 12.7% | 8.9% | 12.9% | 17.9% |
| EPS (₹) | 130.01 | 115.76 | 94.39 | 68.72 | 54.50 | 43.93 | 29.35 | 37.02 | 31.95 |
| Net profit YoY | +15.7% | +23.1% | +37.0% | +25.5% | +26.9% | +51.4% | −17.7% | +136.2% | – |
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 | −30,033 | −34,201 | −35,726 | −29,329 | −5,738 |
| Investing cash flow | −2,528 | −1,038 | −2,625 | −257 | −135 |
| Financing cash flow | 35,650 | 39,652 | 38,269 | 27,840 | 7,073 |
| Capital expenditure | 360 | 341 | 1,169 | 248 | 115 |
| Free cash flow (CFO − capex) | −30,393 | −34,543 | −36,895 | −29,577 | −5,853 |
Net profit trend
annual, ₹ croreFY21
₹1,764
FY22
₹2,239+27%
FY23
₹2,810+25%
FY24
₹3,851+37%
FY25
₹4,740+23%
FY26
₹5,485+16%
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 | 8 May 2026 | PDF on NSE XBRL |
| Q4 FY26 | Standalone · audited | 8 May 2026 | PDF on NSE XBRL |
| Q3 FY26 | Consolidated | 9 Feb 2026 | PDF on NSE XBRL |
| Q3 FY26 | Standalone | 9 Feb 2026 | PDF on NSE XBRL |
| Q2 FY26 | Consolidated | 7 Nov 2025 | PDF on NSE XBRL |
| Q2 FY26 | Standalone | 7 Nov 2025 | PDF on NSE XBRL |
| Q1 FY26 | Consolidated | 8 Aug 2025 | PDF on NSE XBRL |
| Q1 FY26 | Standalone | 8 Aug 2025 | PDF on NSE XBRL |
Annual reports
NSE archiveKey ratios
P/E (TTM)5Y avg 5.2×4.4×
P/B5Y avg 1.63×1.70×
ROEFY26, on average equity39.2%
Net margin14.0%
Debt / equity10.13×
Revenue CAGR (3Y)29.1%
Profit CAGR (3Y)25.0%
EPS (TTM)₹320.27
Market cap₹26,303 Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
1.70×
vs 10-point avg 1.63× (+5%)
0.63× low1.63× avg2.63× high
History points are balance-sheet dates (2021 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹2.68L Cr+19%
Net worth₹15,454 Cr+23%
Total borrowings₹1.57L Cr+17%
Cash & bank balances₹8,475 Cr+57%
Investments₹24,968 Cr+3%
Inventories₹0 Cr
Trade receivables₹327 Cr+60%
Change vs the same date a year earlier.
Revenue mix FY26
Financing78.6%result ₹6,973 Cr
Insurance21.1%result ₹342 Cr
Others0.2%result ₹93.2 Cr
Segment revenue as reported, before inter-segment eliminations.