Quarterly results
consolidated · as filed with NSE · Q1 FY27 back to Q2 FY26
| ₹ crore | Q1 FY27 | Q4 FY26 | Q3 FY26 | Q2 FY26 |
|---|---|---|---|---|
| Revenue from operations | 1,556 | 1,739 | 1,152 | 1,131 |
| Other income | 16.5 | 5 | 15.7 | 18.4 |
| Total expenses | 1,102 | 1,260 | 846 | 858 |
| EBITDA | 548 | 571 | 413 | 399 |
| EBITDA margin | 35.2% | 32.8% | 35.9% | 35.3% |
| Finance costs | 11.1 | 13 | 33.3 | 55.2 |
| Depreciation | 83.9 | 79.2 | 74 | 70.9 |
| Profit before tax | 470 | 484 | 322 | 292 |
| Tax | 89.3 | 91.6 | 58.2 | 53.8 |
| Net profit | 380 | 392 | 264 | 238 |
| Net margin | 24.4% | 22.6% | 22.9% | 21.0% |
| EPS (₹) | 5.49 | 5.67 | 4.11 | 4.01 |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY26 |
|---|---|
| Revenue from operations | 5,050 |
| Other income | 53.5 |
| Total expenses | 3,766 |
| EBITDA | 1,734 |
| EBITDA margin | 34.3% |
| Finance costs | 155 |
| Depreciation | 296 |
| Profit before tax | 1,338 |
| Tax | 256 |
| Net profit | 1,082 |
| Net margin | 21.4% |
| EPS (₹) | 17.17 |
EPS is as filed for each period and is not restated for later bonus issues or splits.
Cash flow
annual · ₹ crore| ₹ crore | FY26 |
|---|---|
| Operating cash flow | 200 |
| Investing cash flow | −304 |
| Financing cash flow | 130 |
| Capital expenditure | 653 |
| Free cash flow (CFO − capex) | −453 |
Net profit trend
annual, ₹ croreFY26
₹1,082
Result filings
as filed with NSE · PDF and XBRL| Period | Basis | Filed | Documents |
|---|---|---|---|
| Q1 FY27 | Consolidated | 15 Jul 2026 | PDF XBRL |
| Q1 FY27 | Standalone | 15 Jul 2026 | PDF 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 | 15 Jan 2026 | PDF XBRL |
| Q3 FY26 | Consolidated | – | PDF on NSE XBRL |
| Q3 FY26 | Standalone | – | PDF on NSE XBRL |
| Q3 FY26 | Standalone | 15 Jan 2026 | PDF XBRL |
| Q2 FY26 | Consolidated | 2 Dec 2025 | PDF on NSE XBRL |
| Q2 FY26 | Standalone | 1 Dec 2025 | PDF on NSE XBRL |
Annual reports
NSE archiveKey ratios
P/E (TTM)5Y avg 13.9×17.5×
P/B5Y avg 4.07×6.03×
ROEFY26, on average equity29.3%
Net margin21.4%
Debt / equity0.05×
Revenue CAGR (3Y)–
Profit CAGR (3Y)–
EPS (TTM)₹18.40
Market cap₹22,287 Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
6.03×
vs 1-point avg 4.07× (+48%)
4.07× low4.07× avg6.03× high
History points are balance-sheet dates (2026 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹5,772 Cr
Net worth₹3,695 Cr
Total borrowings₹177 Cr
Cash & bank balances₹243 Cr
Investments₹57 Cr
Inventories₹1,711 Cr
Trade receivables₹695 Cr
Trade payables₹882 Cr
Change vs the same date a year earlier.
Revenue mix FY26
Photovaltics Modules (PV)99.2%result ₹1,430 Cr
Others0.8%result ₹5.9 Cr
Segment revenue as reported, before inter-segment eliminations.