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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	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 FY19	Q2 FY19	Q1 FY19	Q4 FY18
Revenue from operations	46,255	46,490	34,924	30,187	35,842	37,825	35,780	30,673	36,465	37,410	36,154	32,776	35,983	38,152	35,169	29,838	35,092	32,707	28,434	23,291	25,282	26,700	23,686	21,153	18,487	27,568	23,190	20,383	24,939	28,546	25,046	22,198	24,261	26,909
Other income	2,040	5,128	2,392	2,140	1,616	3,937	2,143	1,505	1,885	2,244	2,203	1,984	1,538	2,210	1,585	1,761	995	1,789	653	782	681	1,274	649	1,085	785	1,913	1,412	1,630	1,150	1,820	1,163	2,011	1,210	2,000
Total expenses	36,816	37,107	28,132	26,422	25,893	29,057	26,202	24,162	24,287	28,298	26,268	26,000	26,786	32,792	26,246	23,770	23,985	25,161	22,781	20,425	21,626	21,565	19,593	18,178	16,471	22,034	19,267	17,734	19,077	21,473	19,181	19,092	19,384	27,757
EBITDA	12,069	12,673	9,331	6,716	12,521	11,790	12,317	8,617	14,339	11,338	11,373	8,137	10,514	6,898	10,389	7,280	12,251	9,079	6,825	3,942	4,844	6,382	5,165	3,975	3,052	6,729	4,968	3,611	6,612	8,212	6,788	3,914	5,732	196
EBITDA margin	26.1%	27.3%	26.7%	22.2%	34.9%	31.2%	34.4%	28.1%	39.3%	30.3%	31.5%	24.8%	29.2%	18.1%	29.5%	24.4%	34.9%	27.8%	24.0%	16.9%	19.2%	23.9%	21.8%	18.8%	16.5%	24.4%	21.4%	17.7%	26.5%	28.8%	27.1%	17.6%	23.6%	0.7%
Finance costs	327	344	321	287	265	241	226	208	209	232	227	182	178	195	204	135	150	121	132	141	148	159	155	147	183	165	151	170	16.6	102	62	0.8	110	113
Depreciation	2,303	2,947	2,218	2,664	2,307	2,782	2,513	1,898	1,952	1,993	1,260	1,178	1,138	1,342	1,262	1,077	994	1,412	1,041	934	1,041	1,088	916	852	853	1,029	894	793	734	1,037	861	807	745	931
Profit before tax	11,479	14,511	9,184	5,905	11,565	12,704	11,721	8,016	14,062	11,356	12,089	8,760	10,735	7,571	10,508	7,829	12,101	9,335	6,305	3,648	4,337	6,409	4,742	4,060	2,801	7,448	5,335	4,279	7,012	8,893	7,028	5,118	6,087	1,152
Tax	2,870	3,719	2,307	1,852	2,975	3,281	3,301	1,879	3,204	2,790	3,281	2,037	2,771	2,115	2,875	1,643	3,243	2,620	1,746	711	1,161	1,817	1,658	1,109	723	2,822	1,414	754	2,381	2,866	2,462	2,032	2,303	−142
Net profit	8,850	10,908	7,166	4,263	8,734	9,593	8,491	6,275	10,944	8,640	9,094	6,814	7,941	5,528	7,719	6,044	8,834	6,715	4,557	2,933	3,174	4,589	3,084	2,952	2,078	4,626	3,922	3,523	4,630	6,024	4,567	3,085	3,786	1,295
Net margin	19.1%	23.5%	20.5%	14.1%	24.4%	25.4%	23.7%	20.5%	30.0%	23.1%	25.2%	20.8%	22.1%	14.5%	21.9%	20.3%	25.2%	20.5%	16.0%	12.6%	12.6%	17.2%	13.0%	14.0%	11.2%	16.8%	16.9%	17.3%	18.6%	21.1%	18.2%	13.9%	15.6%	4.8%
EPS (₹)	14.36	17.59	11.61	7.07	14.19	15.58	13.80	10.21	17.78	14.09	14.72	11.03	12.93	8.98	12.58	9.81	14.33	10.86	7.40	4.77	5.14	7.44	5.01	4.78	3.37	7.53	6.37	5.72	7.51	9.71	7.36	4.97	6.10	2.09
Net profit YoY	+1.3%	+13.7%	−15.6%	−32.1%	−20.2%	+11.0%	−6.6%	−7.9%	+37.8%	+56.3%	+17.8%	+12.7%	−10.1%	−17.7%	+69.4%	+106.1%	+178.3%	+46.3%	+47.7%	−0.6%	+52.8%	−0.8%	−21.4%	−16.2%	−55.1%	−23.2%	−14.1%	+14.2%	+22.3%	+365.1%	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Revenue from operations	1,68,400	1,43,369	1,42,324	1,38,252	1,09,714	90,026	96,080	99,547	87,269
Other income	11,276	9,470	7,969	6,551	3,905	3,792	6,105	5,874	4,658
Total expenses	1,38,511	1,06,335	1,01,907	1,06,794	89,993	75,806	78,113	78,295	81,200
EBITDA	41,242	47,063	47,971	36,818	24,691	18,573	21,921	24,977	9,566
EBITDA margin	24.5%	32.8%	33.7%	26.6%	22.5%	20.6%	22.8%	25.1%	11.0%
Finance costs	1,216	884	819	684	541	645	503	275	432
Depreciation	10,137	9,145	6,735	4,675	4,429	3,709	3,451	3,450	3,066
Profit before tax	41,165	46,504	48,386	38,009	23,625	18,012	24,072	27,125	10,726
Tax	10,853	11,664	11,443	9,876	6,238	5,307	7,371	9,662	3,707
Net profit	31,071	35,302	37,369	28,125	17,378	12,702	16,700	17,462	7,020
Net margin	18.5%	24.6%	26.3%	20.3%	15.8%	14.1%	17.4%	17.5%	8.0%
EPS (₹)	50.46	57.37	60.69	45.70	28.17	20.61	27.12	28.14	11.31
Net profit YoY	−12.0%	−5.5%	+32.9%	+61.8%	+36.8%	−23.9%	−4.4%	+148.7%	–

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	43,215	29,200	18,103	35,686	41,088
Investing cash flow	−33,955	−10,076	−4,486	−23,423	−26,481
Financing cash flow	−11,801	−13,309	−13,899	−13,661	−13,441
Capital expenditure	12,092	12,804	16,380	14,209	12,023
Free cash flow (CFO − capex)	31,122	16,396	1,723	21,477	29,064

Net profit trend

annual, ₹ crore

FY21

₹12,702

FY22

₹17,378+37%

FY23

₹28,125+62%

FY24

₹37,369+33%

FY25

₹35,302−6%

FY26

₹31,071−12%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	27 Jul 2026	PDF on NSE XBRL
Q1 FY27	Standalone	27 Jul 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	27 Apr 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	27 Apr 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	12 Feb 2026	PDF on NSE XBRL
Q3 FY26	Standalone	12 Feb 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	29 Oct 2025	PDF on NSE XBRL
Q2 FY26	Standalone	29 Oct 2025	PDF on NSE XBRL
Q1 FY26	Consolidated	31 Jul 2025	PDF XBRL
Q1 FY26	Standalone	31 Jul 2025	PDF XBRL

Annual reports

NSE archive

FY2620.91 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 6.9×8.4×

P/B5Y avg 2.60×2.20×

ROEFY26, on average equity28.5%

Net margin18.5%

Debt / equity0.12×

Revenue CAGR (3Y)6.8%

Profit CAGR (3Y)3.4%

EPS (TTM)₹50.60

Market cap₹2.63L 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 2.60× (−15%)

2.20× low2.60× avg3.27× high

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

Balance sheet 31 Mar 2026

Total assets₹2.86L Cr+10%

Net worth₹1.19L Cr+20%

Total borrowings₹13,821 Cr+55%

Cash & bank balances₹8,620 Cr−23%

Investments₹10,226 Cr+35%

Inventories₹15,654 Cr+24%

Trade receivables₹14,121 Cr+11%

Trade payables₹12,554 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	61.13	63.13	63.13	63.13	63.13	63.13	63.13	63.13	63.13	63.13	63.13	63.13
FII	10.37	8.38	8.22	7.96	8.16	7.74	8.58	9.16	8.40	8.42	8.59	7.79
DII	22.21	22.75	22.54	22.80	22.65	23.35	22.58	22.57	23.15	23.18	23.06	24.06
of which MF	9.93	9.53	9.04	10.06	10.64	–	–	–	–	–	–	–
Retail	4.35	4.34	4.79	4.80	4.76	4.55	4.46	3.94	4.08	4.03	3.80	3.75
Other public	1.94	1.40	1.32	1.31	1.30	1.23	1.25	1.20	1.24	1.24	1.42	1.27

25,51,169 shareholders · NSE shareholding pattern filings.