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Quarterly results

consolidated · as filed with NSE · Q1 FY27 back to Q4 FY19

₹ 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
Revenue from operations	2,160	2,263	2,308	2,355	2,154	2,288	2,208	2,288	2,103	2,325	2,211	2,195	1,923	2,184	2,004	1,986	1,994	2,058	1,938	1,837	1,820	1,957	1,767	1,509	1,194	1,584	1,545	1,756	1,655	0
Other income	85.5	88.8	92.5	87.7	95.2	129	95.7	129	93.9	92.7	91.6	105	81.1	93.8	107	44.6	68.5	71	56.2	63.1	56.9	73.2	75.2	64.7	57.3	75	65.6	44.8	68	0
Total expenses	1,885	2,010	1,967	1,945	1,900	2,025	1,847	1,891	1,850	2,011	1,871	1,818	1,685	1,907	1,730	1,635	1,668	1,796	1,632	1,565	1,536	1,912	1,546	1,339	1,180	1,258	1,311	1,470	1,397	0
EBITDA	444	427	514	576	433	441	465	582	442	498	517	546	396	451	430	506	479	416	461	432	438	196	376	316	159	481	376	432	404	0
EBITDA margin	20.6%	18.9%	22.3%	24.5%	20.1%	19.3%	21.1%	25.4%	21.0%	21.4%	23.4%	24.9%	20.6%	20.7%	21.5%	25.5%	24.0%	20.2%	23.8%	23.5%	24.1%	10.0%	21.3%	20.9%	13.3%	30.4%	24.4%	24.6%	24.4%	–
Finance costs	19.9	21.5	20.4	18.6	17.3	17.5	18	18.5	19	20	18.7	16.5	15.9	16.7	15.8	15.9	15.5	15.5	15.2	15.6	16	10.7	10.6	10.8	10.8	13.2	8.4	10.8	13.6	0
Depreciation	150	153	154	147	162	160	85.5	166	169	165	159	153	142	158	140	139	137	139	140	144	138	140	144	135	134	141	134	135	134	0
Profit before tax	360	342	433	498	349	392	457	493	347	406	431	482	319	371	381	396	394	332	362	335	341	39.3	296	235	71.8	411	299	−530	325	0
Tax	87.7	82.4	104	129	89.9	104	117	122	86.9	105	106	119	76.8	96.5	93	99.8	100	79.8	85.8	87.1	89.6	20.8	70.7	59.1	22.5	97.4	127	−186	99.5	0
Net profit	269	264	335	380	267	299	367	366	259	318	331	368	245	279	293	304	297	257	283	253	258	25	233	184	58.3	318	179	−333	243	0
Net margin	12.5%	11.6%	14.5%	16.1%	12.4%	13.1%	16.6%	16.0%	12.3%	13.7%	15.0%	16.8%	12.8%	12.8%	14.6%	15.3%	14.9%	12.5%	14.6%	13.8%	14.2%	1.3%	13.2%	12.2%	4.9%	20.0%	11.6%	-19.0%	14.7%	–
EPS (₹)	3.53	3.46	4.40	4.99	3.51	4.91	6.03	6.01	4.26	5.22	5.43	6.05	4.02	4.59	4.82	4.99	4.87	4.22	4.65	4.16	4.24	0.41	3.83	3.02	0.96	5.21	2.94	-5.46	3.98	0.00
Net profit YoY	+0.6%	−11.8%	−8.8%	+3.7%	+3.0%	−6.0%	+11.1%	−0.6%	+5.8%	+13.8%	+12.7%	+21.3%	−17.4%	+8.6%	+3.5%	+20.0%	+14.9%	+930.2%	+21.6%	+37.4%	+343.6%	−92.1%	+30.0%	+155.4%	−76.0%	–	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20
Revenue from operations	9,079	8,887	8,653	8,169	7,653	6,427	6,539
Other income	364	447	370	313	247	270	253
Total expenses	7,822	7,612	7,385	6,940	6,529	5,977	5,436
EBITDA	1,950	1,929	1,958	1,866	1,747	1,047	1,694
EBITDA margin	21.5%	21.7%	22.6%	22.8%	22.8%	16.3%	25.9%
Finance costs	77.7	72.9	71.2	63.9	62.4	42.9	46.1
Depreciation	616	581	619	573	561	553	544
Profit before tax	1,621	1,689	1,638	1,542	1,371	642	505
Tax	405	429	406	390	342	173	138
Net profit	1,246	1,292	1,262	1,173	1,052	501	407
Net margin	13.7%	14.5%	14.6%	14.4%	13.8%	7.8%	6.2%
EPS (₹)	16.36	21.20	20.71	19.26	17.27	8.22	6.67
Net profit YoY	−3.6%	+2.4%	+7.6%	+11.5%	+110.2%	+23.1%	–

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	1,482	1,712	1,389	1,406	1,369
Investing cash flow	−236	−629	−699	−593	−1,070
Financing cash flow	−954	−914	−840	−854	−595
Capital expenditure	1,083	908	741	573	778
Free cash flow (CFO − capex)	399	803	648	833	591

Net profit trend

annual, ₹ crore

FY21

₹501

FY22

₹1,052+110%

FY23

₹1,173+12%

FY24

₹1,262+8%

FY25

₹1,292+2%

FY26

₹1,246−4%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	24 Jul 2026	PDF on NSE XBRL
Q1 FY27	Standalone	24 Jul 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	–	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	25 May 2026	PDF XBRL
Q4 FY26	Standalone · audited	25 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	–	PDF XBRL
Q3 FY26	Consolidated	29 Jan 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	–	PDF on NSE XBRL
Q3 FY26	Standalone	29 Jan 2026	PDF on NSE XBRL
Q3 FY26	Standalone	–	PDF on NSE XBRL

Annual reports

NSE archive

FY2610.65 MB FY259.19 MB FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 32.8×28.2×

P/B5Y avg 3.63×2.72×

ROEFY26, on average equity9.8%

Net margin13.7%

Debt / equity0.00×

Revenue CAGR (3Y)3.6%

Profit CAGR (3Y)2.0%

EPS (TTM)₹16.38

Market cap₹35,149 Cr

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

P/B vs history

2.72×

vs 8-point avg 3.63× (−25%)

2.50× low3.63× avg4.60× high

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

Balance sheet 31 Mar 2026

Total assets₹15,176 Cr+5%

Net worth₹12,942 Cr+5%

Total borrowings₹24 Cr+0%

Cash & bank balances₹654 Cr+81%

Investments₹1,069 Cr−5%

Inventories₹52 Cr+5%

Trade receivables₹485 Cr+21%

Trade payables₹235 Cr+5%

Change vs the same date a year earlier.

Revenue mix FY26

EXIM66.4%result ₹1,436 Cr

DOM33.6%result ₹153 Cr

Segment revenue as reported, before inter-segment eliminations.

Shareholding 30 Jun 2026

%	Jun 26	Mar 26	Dec 25	Sept 25	Jul 25	Jun 25	Mar 25	Dec 24	Sept 24	Jun 24	Mar 24	Dec 23
Promoter	54.80	54.80	54.80	54.80	54.80	54.80	54.80	54.80	54.80	54.80	54.80	54.80
FII	7.85	8.32	9.06	12.37	12.69	12.74	13.10	13.48	13.66	16.15	16.63	19.55
DII	29.86	29.77	28.69	25.81	25.95	26.11	26.19	25.70	25.73	24.71	24.88	22.77
of which MF	14.65	13.91	12.58	9.28	9.25	9.44	–	–	–	–	–	–
Retail	6.20	5.95	6.19	5.87	5.45	5.30	4.94	4.89	4.68	3.22	2.66	2.22
Other public	1.29	1.16	1.26	1.15	1.11	1.05	0.97	1.13	1.13	1.12	1.03	0.66

3,57,912 shareholders · NSE shareholding pattern filings.