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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	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	Q2 FY19	Q4 FY18
Revenue from operations	114	142	165	141	117	158	159	114	113	151	161	105	95.6	109	124	109	101	104	105	72.7	41.6	100	85.6	48.4	38.5	152	148	116	132	176	201	123	159
Other income	8.4	11.3	6.7	6.7	8	11.6	6.6	10.6	9.3	7.8	5.9	5.6	7.6	5.8	7.6	4.2	4.4	2.9	3.9	4.1	5.5	4.7	4.1	4.5	5.8	3.8	3	3.3	3.3	4.9	4.4	3.5	2.9
Total expenses	130	157	175	154	133	154	153	126	130	147	139	106	104	116	122	116	121	113	95	90.8	85.7	104	94.3	85.5	94.4	160	138	118	129	151	179	113	141
EBITDA	9	10.7	15.3	11.4	7.6	29.4	30.5	11.1	7.5	27.7	45.8	22.4	15.3	16.6	27.4	21	6.9	18.1	38	9.7	−18	24	20.9	−6.3	−25.9	23	41.3	28	33.1	43.1	40.4	27.3	35.4
EBITDA margin	7.9%	7.5%	9.3%	8.1%	6.5%	18.6%	19.2%	9.8%	6.6%	18.4%	28.5%	21.4%	16.1%	15.3%	22.2%	19.2%	6.8%	17.4%	36.2%	13.4%	-43.4%	23.9%	24.4%	-13.1%	-67.4%	15.1%	27.8%	24.2%	25.0%	24.5%	20.1%	22.3%	22.2%
Finance costs	3.3	3.7	3.7	3.6	3.3	3.5	3.4	3.5	3.7	3.8	3.9	3.8	3.8	3.8	4.3	4.6	4.4	4.4	4.8	4.7	4.4	4.2	4.7	5.3	4.7	4.7	5	4.9	4.9	0.4	1.5	1.1	1
Depreciation	21.6	21.5	22	20.7	20.5	21.8	21.3	20	20.3	20.6	19.9	19.8	19.5	20.2	21.5	23.2	22.5	22.9	23.2	23.1	21.7	23.5	24.9	25.6	25.3	26.9	26.4	25.9	25	18	17.4	16.6	15.8
Profit before tax	−7.5	−4.8	−11.9	−6.2	−8.3	15.7	12.3	−1.8	−7.2	11	28	4.4	1	−1.6	9.2	−5.2	−15.6	−6.3	13.9	−14	−38.6	−96.6	24.7	−32.6	−50.1	−4.8	13	0.5	6.5	29.6	25.9	13.1	21.4
Tax	−1.5	−13	−5.6	−2.1	−3	3.6	3.1	2.2	−1.8	2.2	4	0.7	−0.2	0.3	1.9	−4.7	−2	−0.6	4.1	−3.2	−9.1	−30.3	6.3	−7.9	−12.2	−1.6	3	0.3	2.6	10.2	9.7	4.1	9.6
Net profit	−6	8.3	−6.3	−4.1	−5.3	12.2	9.3	−4	−5.4	8.9	23.9	3.7	1.3	−2.7	6.3	−0.5	−13.6	−5.7	9.8	−10.8	−29.4	−66.2	18.4	−24.8	−37.9	−3.2	9.9	0.2	3.9	19.4	16.1	9.1	11.8
Net margin	-5.3%	5.8%	-3.8%	-2.9%	-4.5%	7.7%	5.8%	-3.5%	-4.8%	5.9%	14.9%	3.5%	1.4%	-2.5%	5.1%	-0.5%	-13.5%	-5.5%	9.3%	-14.9%	-70.8%	-66.0%	21.5%	-51.2%	-98.6%	-2.1%	6.7%	0.2%	2.9%	11.0%	8.0%	7.4%	7.4%
EPS (₹)	-1.26	1.73	-1.32	-0.86	-1.10	2.55	1.94	-0.85	-1.14	1.86	5.02	0.77	0.25	-0.39	1.54	-0.11	-2.85	-1.20	2.05	-2.27	-6.18	-13.90	3.86	-5.19	-7.95	-0.68	2.08	0.04	0.81	4.07	3.39	1.90	2.48
Net profit YoY	−14.2%	−32.1%	−168.1%	−1.5%	+3.4%	+37.4%	−61.3%	−209.6%	−505.1%	+423.0%	+278.6%	+794.3%	+109.9%	+52.0%	−35.3%	+95.1%	+53.9%	+91.4%	−46.9%	+56.3%	+22.3%	−1949.6%	+85.9%	−13094.4%	−1084.2%	−116.7%	−38.6%	−97.9%	–	+64.0%	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Revenue from operations	565	544	536	440	323	272	548	621	537
Other income	32.7	38	27.7	22.2	16.4	19.1	13.4	15.7	9.4
Total expenses	619	563	525	471	385	374	546	553	489
EBITDA	45	78.6	106	70.9	47.8	16.1	125	139	117
EBITDA margin	8.0%	14.4%	19.8%	16.1%	14.8%	5.9%	22.9%	22.4%	21.7%
Finance costs	14.4	14.1	15.4	16.7	18.2	18.9	19.5	4	4.7
Depreciation	84.8	83.4	79.8	85	90.9	99.2	104	67.1	63.5
Profit before tax	−31.1	19	39.7	−11.2	−45	−155	15.1	83.7	62.1
Tax	−23.7	7.1	6.7	−4.5	−8.8	−44.1	4.4	29.8	26.4
Net profit	−7.4	12	33	−10.5	−36.2	−111	10.7	53.9	35.6
Net margin	-1.3%	2.2%	6.2%	-2.4%	-11.2%	-40.6%	2.0%	8.7%	6.6%
EPS (₹)	-1.55	2.51	6.92	-1.41	-7.60	-23.18	2.25	11.31	7.48
Net profit YoY	−161.9%	−63.8%	+413.4%	+70.9%	+67.2%	−1131.6%	−80.1%	+51.2%	–

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	85.6	25.5	125	92.6	40.4
Investing cash flow	−17	−30.4	−38.1	−40.5	6.2
Financing cash flow	−51.9	−47	−39.7	−43	−45.1
Capital expenditure	16.7	6.6	16.5	8.3	8.6
Free cash flow (CFO − capex)	68.9	19	109	84.2	31.9

Net profit trend

annual, ₹ crore

FY21

₹−111

FY22

₹−36.2+67%

FY23

₹−10.5+71%

FY24

₹33+413%

FY25

₹12−64%

FY26

₹−7.4−162%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	5 Aug 2026	PDF on NSE XBRL
Q1 FY27	Standalone	5 Aug 2026	PDF on NSE XBRL
Q4 FY26	Consolidated	15 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	15 May 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	10 Feb 2026	PDF on NSE XBRL
Q3 FY26	Standalone	10 Feb 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	4 Nov 2025	PDF on NSE XBRL
Q2 FY26	Standalone	4 Nov 2025	PDF on NSE XBRL
Q1 FY26	Consolidated	29 Jul 2025	PDF on NSE XBRL
Q1 FY26	Standalone	29 Jul 2025	PDF on NSE XBRL

Annual reports

NSE archive

FY265.67 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 43.7×-58.0×

P/B5Y avg 1.04×0.62×

ROEFY26, on average equity-1.0%

Net margin-1.3%

Debt / equity0.00×

Revenue CAGR (3Y)8.7%

Profit CAGR (3Y)–

EPS (TTM)₹-1.71

Market cap₹472 Cr

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

P/B vs history

0.62×

vs 8-point avg 1.04× (−40%)

0.62× low1.04× avg1.61× high

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

Balance sheet 31 Mar 2026

Total assets₹1,206 Cr+1%

Net worth₹758 Cr−2%

Total borrowings₹0 Cr

Cash & bank balances₹36 Cr+92%

Investments₹387 Cr+9%

Inventories₹0 Cr

Trade receivables₹179 Cr+6%

Trade payables₹174 Cr+21%

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	71.15	71.15	71.15	71.15	71.15	71.15	71.15	71.15	71.15	71.15	71.15	71.15
FII	6.05	6.19	6.27	6.21	6.15	6.12	6.12	6.12	5.96	6.14	5.78	5.77
DII	3.70	3.87	3.97	4.37	4.06	4.06	4.06	4.06	4.06	4.07	4.45	4.45
of which MF	3.18	3.34	3.34	3.34	3.34	–	–	–	–	–	–	–
Retail	16.16	15.74	15.48	15.22	15.55	15.56	15.63	15.56	15.63	14.68	14.68	14.69
Other public	2.94	3.05	3.13	3.05	3.09	3.11	3.04	3.11	3.20	3.96	3.94	3.94

17,124 shareholders · NSE shareholding pattern filings.