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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	Q4 FY22	Q3 FY22	Q2 FY22	Q1 FY22	Q4 FY21	Q3 FY21	Q2 FY21	Q1 FY21	Q4 FY20	Q3 FY20	Q2 FY20	Q1 FY20	Q3 FY19	Q2 FY19	Q4 FY18
Revenue from operations	1,039	925	1,152	799	904	963	1,049	891	906	891	996	865	826	836	983	814	770	972	789	661	731	934	735	481	533	813	660	649	811	628	617
Other income	18.5	23.2	19	21.4	21.6	21.2	14.9	21.6	10.5	10.7	16.7	11.1	8.3	13.8	6.9	42	30.3	16.6	37.6	10.7	46.5	9.2	7.9	6.7	14.5	15.6	16.4	11.5	5.5	3.1	2.2
Total expenses	861	784	816	668	737	790	759	687	736	731	730	680	684	701	737	668	692	717	596	575	656	689	595	438	522	639	558	603	630	524	531
EBITDA	226	187	384	179	214	219	339	250	217	211	315	234	190	200	294	195	164	342	277	170	163	340	257	123	98.5	264	193	134	267	189	173
EBITDA margin	21.8%	20.2%	33.4%	22.4%	23.7%	22.8%	32.3%	28.1%	23.9%	23.7%	31.6%	27.0%	23.0%	23.9%	29.9%	24.0%	21.3%	35.1%	35.1%	25.7%	22.3%	36.4%	35.0%	25.5%	18.5%	32.5%	29.2%	20.7%	32.9%	30.2%	28.1%
Finance costs	5.6	3.2	2.9	2.6	2.4	2.8	2.2	2.3	2.1	2.9	2.7	2.3	2.1	1.4	1.8	1.8	1.8	1.8	0.8	0.6	4.7	1.4	2.5	4.7	2.4	4.9	9.3	4.4	6.2	4.4	6.8
Depreciation	42.8	42.3	45.3	45.3	44.5	43.5	45.6	44.7	44.4	48	45.8	46.1	46	64	47.2	47.9	83.5	84.4	83.9	83	83	94.4	115	74.8	85.2	85.6	81.9	83.7	79.2	81.5	80.8
Profit before tax	196	164	345	152	189	194	306	225	180	171	277	196	150	148	252	188	97.8	272	230	96.8	122	254	148	50.2	18	186	118	57.6	177	107	87.8
Tax	55.8	20.9	25.6	1.8	22.5	31.5	22.4	9.4	27.8	22.5	15.5	15.8	12.9	6.3	18.5	5.4	−256	49.1	41	17.5	32.6	43.8	28.4	9.5	−7.4	39.8	21.1	17.7	38.6	24	27
Net profit	139	143	319	148	164	162	279	211	151	147	261	180	137	142	233	180	354	220	185	77.8	87.7	209	118	39.6	22.8	144	96	39.1	138	82.4	59.7
Net margin	13.4%	15.5%	27.7%	18.6%	18.2%	16.8%	26.6%	23.7%	16.6%	16.5%	26.2%	20.8%	16.6%	16.9%	23.7%	22.1%	46.0%	22.6%	23.5%	11.8%	12.0%	22.4%	16.1%	8.2%	4.3%	17.8%	14.5%	6.0%	17.0%	13.1%	9.7%
EPS (₹)	3.15	3.28	7.32	3.40	3.76	3.72	6.39	4.87	3.50	3.41	5.92	4.09	3.13	3.27	5.37	4.17	8.03	4.94	4.17	1.75	1.97	4.70	2.66	0.88	0.51	3.18	2.12	0.86	3.03	1.82	2.65
Net profit YoY	−15.4%	−11.7%	+14.5%	−29.7%	+9.1%	+10.5%	+7.0%	+17.2%	+10.1%	+3.6%	+11.9%	−0.1%	–	−60.0%	+6.1%	−2.8%	+303.6%	+5.1%	+56.4%	+96.5%	+285.6%	+44.7%	+23.4%	+1.2%	–	+5.0%	+16.4%	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY18
Revenue from operations	3,780	3,809	3,578	3,406	3,192	2,881	2,655	2,541
Other income	85.1	68.1	46.8	68.9	95.3	70.3	57.1	19.5
Total expenses	3,004	2,972	2,824	2,798	2,580	2,378	2,322	2,167
EBITDA	964	1,025	950	863	952	883	691	719
EBITDA margin	25.5%	26.9%	26.5%	25.3%	29.8%	30.7%	26.0%	28.3%
Finance costs	11.1	9.3	10	7.4	5.1	13.3	21	34.3
Depreciation	177	178	186	247	335	367	336	311
Profit before tax	850	906	795	677	688	573	380	394
Tax	70.8	91.1	66.7	42.1	−149	114	71.3	86.3
Net profit	775	803	724	627	837	455	302	306
Net margin	20.5%	21.1%	20.2%	18.4%	26.2%	15.8%	11.4%	12.1%
EPS (₹)	17.76	18.48	16.55	14.50	18.88	10.23	6.67	13.53
Net profit YoY	−3.4%	+10.9%	+15.4%	−25.0%	+84.0%	+50.4%	–	–

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	801	896	779	749	644
Investing cash flow	−181	−340	−205	−113	−235
Financing cash flow	−554	−500	−563	−608	−402
Capital expenditure	37.6	44.6	40.6	40.5	484
Free cash flow (CFO − capex)	763	851	738	708	160

Net profit trend

annual, ₹ crore

FY21

₹455

FY22

₹837+84%

FY23

₹627−25%

FY24

₹724+15%

FY25

₹803+11%

FY26

₹775−3%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	4 Aug 2026	PDF on NSE XBRL
Q1 FY27	Standalone	4 Aug 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	–	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	21 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	21 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	–	PDF on NSE XBRL
Q3 FY26	Consolidated	4 Feb 2026	PDF on NSE XBRL
Q3 FY26	Standalone	4 Feb 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	10 Nov 2025	PDF on NSE XBRL
Q2 FY26	Standalone	10 Nov 2025	PDF on NSE XBRL

Annual reports

NSE archive

FY2624.75 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 26.1×22.7×

P/B5Y avg 8.71×5.81×

ROEFY26, on average equity27.6%

Net margin20.5%

Debt / equity0.04×

Revenue CAGR (3Y)3.5%

Profit CAGR (3Y)7.3%

EPS (TTM)₹17.18

Market cap₹16,991 Cr

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

P/B vs history

5.81×

vs 8-point avg 8.71× (−33%)

5.81× low8.71× avg12.72× high

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

Balance sheet 31 Mar 2026

Total assets₹3,836 Cr+9%

Net worth₹2,924 Cr+9%

Total borrowings₹122 Cr+97%

Cash & bank balances₹177 Cr+69%

Investments₹748 Cr+33%

Inventories₹400 Cr+30%

Trade receivables₹343 Cr−24%

Trade payables₹477 Cr+10%

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	54.84	54.84	54.84	54.84	54.84	54.84	54.84	54.84	54.84	54.84	54.84	54.84
FII	7.87	8.58	9.03	10.93	11.89	12.11	14.11	14.38	14.02	13.46	12.86	11.91
DII	27.01	26.92	26.73	25.01	24.06	23.67	21.70	21.51	21.61	22.07	23.95	25.22
of which MF	25.21	24.71	24.40	22.97	21.87	–	–	–	–	–	–	–
Retail	5.76	5.62	5.37	5.27	5.31	5.38	5.40	4.93	4.84	4.73	4.01	3.90
Other public	4.52	4.04	4.03	3.95	3.90	4.00	3.95	4.34	4.69	4.90	4.34	4.13

1,31,617 shareholders · NSE shareholding pattern filings.