Quarterly results
consolidated · as filed with NSE · Q1 FY27 back to Q2 FY24
| ₹ 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 157 | 120 | 200 | 172 | 239 | 266 | 245 | 233 | 206 | 245 | 200 | 211 |
| Other income | 2.1 | 3.1 | 2.5 | 5.4 | 2.3 | 6.2 | 2.6 | 2 | 2.3 | 0.7 | 6.3 | 7.6 |
| Total expenses | 138 | 109 | 176 | 141 | 190 | 209 | 178 | 168 | 159 | 182 | 155 | 156 |
| EBITDA | 26 | 18.3 | 30.7 | 36.2 | 54.1 | 60.8 | 71.1 | 68.5 | 50.3 | 67.6 | 46.8 | 57 |
| EBITDA margin | 16.6% | 15.2% | 15.3% | 21.0% | 22.7% | 22.9% | 29.0% | 29.4% | 24.4% | 27.6% | 23.5% | 27.1% |
| Finance costs | 4.9 | 4.1 | 3.5 | 2.7 | 3.1 | 1.9 | 1.4 | 0.8 | 1 | 1.8 | 1.2 | 1.6 |
| Depreciation | 2.1 | 2.6 | 2.6 | 2.5 | 2.5 | 2.5 | 2.6 | 2.4 | 2.2 | 2.7 | 1.3 | 1.3 |
| Profit before tax | 21.1 | 14.8 | 27.2 | 36.4 | 50.8 | 62.7 | 69.8 | 67.4 | 49.4 | 63.8 | 50.5 | 61.7 |
| Tax | 5.6 | 9.1 | 7.9 | 8.3 | 12.8 | 15.8 | 19.2 | 17.8 | 12.2 | 16.5 | 13.1 | 16.4 |
| Net profit | 15.5 | 5.7 | 19.3 | 28.1 | 38.1 | 46.9 | 50.6 | 49.7 | 37.2 | 47.4 | 37.4 | 45.4 |
| Net margin | 9.9% | 4.7% | 9.6% | 16.3% | 15.9% | 17.7% | 20.6% | 21.3% | 18.0% | 19.3% | 18.8% | 21.5% |
| EPS (₹) | 2.79 | 1.01 | 3.39 | 5.08 | 6.82 | 8.39 | 9.09 | 8.94 | 6.68 | 9.14 | 7.37 | 9.39 |
| Net profit YoY | −59.3% | −87.8% | −61.9% | −43.3% | +2.4% | −1.0% | +35.2% | +9.5% | – | – | – | – |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY26 | FY25 | FY24 |
|---|---|---|---|
| Revenue from operations | 733 | 966 | 793 |
| Other income | 12.3 | 15.9 | 15.8 |
| Total expenses | 616 | 733 | 602 |
| EBITDA | 140 | 251 | 204 |
| EBITDA margin | 19.2% | 26.0% | 25.7% |
| Finance costs | 13.2 | 8.4 | 6.3 |
| Depreciation | 10.2 | 9.6 | 6.5 |
| Profit before tax | 129 | 249 | 207 |
| Tax | 38 | 65.2 | 54.1 |
| Net profit | 91.2 | 184 | 153 |
| Net margin | 12.4% | 19.0% | 19.2% |
| EPS (₹) | 16.30 | 33.05 | 29.38 |
| Net profit YoY | −50.4% | +20.4% | – |
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 |
|---|---|---|---|
| Operating cash flow | −14.9 | 33.5 | −116 |
| Investing cash flow | −59.9 | 19.2 | −69.5 |
| Financing cash flow | −2.2 | 0.9 | 176 |
| Capital expenditure | 72.8 | 6.3 | 32.9 |
| Free cash flow (CFO − capex) | −87.7 | 27.2 | −149 |
Net profit trend
annual, ₹ croreFY24
₹153
FY25
₹184+20%
FY26
₹91.2−50%
Result filings
as filed with NSE · PDF and XBRL| Period | Basis | Filed | Documents |
|---|---|---|---|
| Q1 FY27 | Consolidated | – | PDF on NSE XBRL |
| Q1 FY27 | Consolidated | 12 Aug 2026 | PDF on NSE XBRL |
| Q1 FY27 | Standalone | 12 Aug 2026 | PDF on NSE XBRL |
| Q1 FY27 | Standalone | – | PDF on NSE XBRL |
| Q4 FY26 | Consolidated · audited | – | PDF on NSE XBRL |
| Q4 FY26 | Consolidated · audited | 29 May 2026 | PDF on NSE XBRL |
| Q4 FY26 | Standalone · audited | 29 May 2026 | PDF on NSE XBRL |
| Q3 FY26 | Consolidated | 13 Feb 2026 | PDF on NSE XBRL |
| Q3 FY26 | Standalone | 13 Feb 2026 | PDF on NSE XBRL |
| Q2 FY26 | Consolidated | 14 Nov 2025 | PDF on NSE XBRL |
Annual reports
NSE archiveKey ratios
P/E (TTM)5Y avg 16.4×28.7×
P/B5Y avg 2.89×1.87×
ROEFY26, on average equity9.0%
Net margin12.4%
Debt / equity0.15×
Revenue CAGR (3Y)–
Profit CAGR (3Y)–
EPS (TTM)₹12.36
Market cap₹1,971 Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
1.87×
vs 6-point avg 2.89× (−35%)
1.37× low2.89× avg4.75× high
History points are balance-sheet dates (2023 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹1,331 Cr+14%
Net worth₹1,055 Cr+8%
Total borrowings₹154 Cr+80%
Cash & bank balances₹17 Cr−82%
Investments₹10 Cr−43%
Inventories₹226 Cr+369%
Trade receivables₹387 Cr+3%
Trade payables₹33 Cr+123%
Change vs the same date a year earlier.
Revenue mix FY26
Contractor86.5%result ₹142 Cr
Manufacturing of flex sheets and paper products13.5%result ₹0.8 Cr
Segment revenue as reported, before inter-segment eliminations.