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Quarterly results

consolidated · as filed with NSE · Q1 FY27 back to Q3 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	Q3 FY19
Revenue from operations	3,890	4,245	3,506	3,417	3,636	4,091	3,181	3,087	3,621	4,307	3,600	3,149	3,624	3,912	3,355	2,971	3,302	3,380	2,731	2,577	2,589	3,281	2,857	2,410	1,974	2,483	2,418	2,236	2,537	2,842	2,175
Other income	139	45	62	66	49	93	37	73	50	120	64	85	57	41	35	38	22	53	30	45	26	40	46	41	55	56	68	49	44	63	64
Total expenses	3,593	3,840	3,362	3,165	3,183	3,717	3,135	3,087	3,364	4,075	3,303	3,062	3,496	3,605	3,104	2,980	3,072	3,077	2,668	2,309	2,243	2,893	2,586	2,083	1,734	2,474	2,461	2,270	2,329	2,641	2,199
EBITDA	805	902	602	696	883	793	511	434	669	654	775	589	610	707	645	377	589	682	411	621	704	779	694	703	615	488	455	471	669	660	425
EBITDA margin	20.7%	21.2%	17.2%	20.4%	24.3%	19.4%	16.1%	14.1%	18.5%	15.2%	21.5%	18.7%	16.8%	18.1%	19.2%	12.7%	17.8%	20.2%	15.0%	24.1%	27.2%	23.7%	24.3%	29.2%	31.2%	19.7%	18.8%	21.1%	26.4%	23.2%	19.5%
Finance costs	147	132	118	122	108	105	101	98	95	94	108	101	83	64	69	54	47	45	46	50	60	61	94	74	74	104	93	99	119	103	117
Depreciation	361	365	340	322	322	314	364	336	317	328	370	401	399	336	325	332	312	334	302	303	298	330	329	302	301	375	405	406	342	356	332
Profit before tax	254	440	174	318	518	467	83	73	194	352	361	172	185	204	286	29	252	360	93	307	372	428	317	368	295	65	25	15	252	264	40
Tax	62	45	46	79	123	28	17	24	49	32	95	48	41	125	74	−21	64	−239	20	93	95	−212	134	136	107	41	−1	−21	100	0	9
Net profit	192	394	128	239	395	439	66	49	145	320	266	123	144	609	218	47	205	600	103	209	238	640	183	232	188	24	26	36	152	263	31
Net margin	4.9%	9.3%	3.7%	7.0%	10.9%	10.7%	2.1%	1.6%	4.0%	7.4%	7.4%	3.9%	4.0%	15.6%	6.5%	1.6%	6.2%	17.8%	3.8%	8.1%	9.2%	19.5%	6.4%	9.6%	9.5%	1.0%	1.1%	1.6%	6.0%	9.3%	1.4%
EPS (₹)	10.02	20.77	6.50	12.59	20.94	23.20	3.25	2.46	7.50	16.80	14.03	6.33	6.95	31.39	10.61	2.99	10.46	31.74	3.48	11.20	14.23	33.44	9.70	12.24	10.03	1.35	1.25	1.40	7.62	11.81	1.46
Net profit YoY	−51.4%	−10.3%	+93.9%	+387.8%	+172.4%	+37.2%	−75.2%	−60.2%	+0.7%	−47.5%	+22.0%	+161.7%	−29.8%	+1.5%	+111.7%	−77.5%	−13.9%	−6.3%	−43.7%	−9.9%	+26.6%	+2566.7%	+603.8%	+544.4%	+23.7%	−90.9%	−16.1%	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19
Revenue from operations	14,804	13,980	14,691	13,540	11,286	10,522	9,674	9,484
Other income	222	253	315	138	155	182	217	244
Total expenses	13,550	13,303	13,936	12,763	10,293	9,296	9,534	9,389
EBITDA	3,083	2,407	2,639	2,316	2,431	2,791	2,083	1,895
EBITDA margin	20.8%	17.2%	18.0%	17.1%	21.5%	26.5%	21.5%	20.0%
Finance costs	480	399	386	234	202	303	415	504
Depreciation	1,349	1,331	1,498	1,305	1,236	1,262	1,528	1,296
Profit before tax	1,450	817	1,070	771	1,146	1,408	357	339
Tax	292	118	216	242	−14	165	119	−10
Net profit	1,157	699	853	1,079	1,173	1,243	238	349
Net margin	7.8%	5.0%	5.8%	8.0%	10.4%	11.8%	2.5%	3.7%
EPS (₹)	60.80	36.41	44.11	55.44	60.72	65.65	11.61	15.97
Net profit YoY	+65.5%	−18.1%	−20.9%	−8.0%	−5.6%	+422.3%	−31.8%	–

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	2,278	2,117	2,635	2,252	1,937
Investing cash flow	−3,023	−2,270	−2,750	−2,326	−1,050
Financing cash flow	808	−39	222	168	−942
Capital expenditure	2,056	2,664	2,827	2,709	1,769
Free cash flow (CFO − capex)	222	−547	−192	−457	168

Net profit trend

annual, ₹ crore

FY21

₹1,243

FY22

₹1,173−6%

FY23

₹1,079−8%

FY24

₹853−21%

FY25

₹699−18%

FY26

₹1,157+66%

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	28 Apr 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	28 Apr 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	21 Jan 2026	PDF on NSE XBRL
Q3 FY26	Standalone	21 Jan 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	17 Oct 2025	PDF XBRL
Q2 FY26	Standalone	17 Oct 2025	PDF XBRL
Q1 FY26	Consolidated	22 Jul 2025	PDF XBRL
Q1 FY26	Standalone	22 Jul 2025	PDF XBRL

Annual reports

NSE archive

FY2615.84 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19

Key ratios

P/E (TTM)5Y avg 39.2×33.9×

P/B5Y avg 2.23×1.80×

ROEFY26, on average equity6.5%

Net margin7.8%

Debt / equity0.38×

Revenue CAGR (3Y)3.0%

Profit CAGR (3Y)2.4%

EPS (TTM)₹50.16

Market cap₹32,304 Cr

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

P/B vs history

1.80×

vs 8-point avg 2.23× (−20%)

1.80× low2.23× avg2.85× high

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

Balance sheet 31 Mar 2026

Total assets₹33,312 Cr+10%

Net worth₹17,979 Cr+3%

Total borrowings₹6,752 Cr+28%

Cash & bank balances₹212 Cr+42%

Investments₹5,876 Cr+15%

Inventories₹1,192 Cr−14%

Trade receivables₹864 Cr−3%

Trade payables₹1,294 Cr−16%

Change vs the same date a year earlier.

Revenue mix FY22

Cement97.9%result ₹1,195 Cr

Others1.7%result ₹20 Cr

Discontinued operrations0.4%result ₹10 Cr

Segment revenue as reported, before inter-segment eliminations.

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	55.84	55.84	55.84	55.84	55.84	55.84	55.84	55.84	55.84	55.84	55.84	55.85
FII	6.81	7.15	7.92	8.76	8.24	8.28	9.08	8.94	9.43	11.37	12.96	14.13
DII	19.94	20.25	18.99	17.81	17.37	16.43	14.70	14.58	13.61	12.63	11.03	9.43
of which MF	16.62	16.68	15.31	13.13	10.66	–	–	–	–	–	–	–
Retail	8.52	8.06	8.47	8.66	9.12	9.78	10.62	9.97	11.06	10.00	9.83	9.86
Other public	8.89	8.70	8.78	8.93	9.43	9.67	9.76	10.67	10.06	10.16	10.34	10.73

72,957 shareholders · NSE shareholding pattern filings.