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 | Q1 FY19 | Q4 FY18 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 2,005 | 1,511 | 1,454 | 1,242 | 1,201 | 1,223 | 1,237 | 1,354 | 1,508 | 1,497 | 1,245 | 1,229 | 1,284 | 1,456 | 1,421 | 1,447 | 1,366 | 916 | 939 | 885 | 769 | 740 | 753 | 775 | 1,068 | 1,009 | 1,077 | 818 | 783 | 974 | 972 | 799 | 821 | 769 |
| Other income | 281 | 346 | 282 | 140 | 135 | 150 | 264 | 225 | 195 | 229 | 151 | 232 | 51 | 94.7 | 101 | 253 | 31.6 | 66.8 | −6.6 | 67.8 | 47.2 | 58.8 | 106 | 27.2 | 128 | 41.6 | 93.5 | 81.6 | 50.6 | 52.6 | 72.6 | 51.5 | 55.2 | 46.3 |
| Total expenses | 921 | 815 | 890 | 781 | 801 | 977 | 893 | 970 | 855 | 785 | 856 | 850 | 734 | 853 | 894 | 924 | 947 | 792 | 732 | 729 | 811 | 754 | 672 | 567 | 720 | 1,112 | 830 | 909 | 869 | 878 | 914 | 886 | 1,111 | 1,074 |
| EBITDA | 1,338 | 941 | 836 | 728 | 643 | 502 | 611 | 654 | 911 | 937 | 650 | 643 | 792 | 847 | 796 | 793 | 691 | 386 | 466 | 425 | 236 | 233 | 338 | 462 | 610 | 166 | 544 | 240 | 210 | 408 | 390 | 244 | 29.4 | 7.1 |
| EBITDA margin | 66.7% | 62.3% | 57.5% | 58.6% | 53.5% | 41.0% | 49.4% | 48.3% | 60.4% | 62.6% | 52.2% | 52.3% | 61.7% | 58.2% | 56.0% | 54.8% | 50.6% | 42.1% | 49.6% | 48.0% | 30.6% | 31.6% | 44.9% | 59.6% | 57.1% | 16.5% | 50.5% | 29.4% | 26.9% | 41.9% | 40.2% | 30.5% | 3.6% | 0.9% |
| Finance costs | 19.9 | 22.9 | 25 | 43.6 | 44.9 | 50.7 | 61.5 | 63.7 | 60.6 | 58.5 | 66.9 | 77.1 | 62.2 | 76.8 | 84.6 | 88.1 | 93.3 | 111 | 75.7 | 84.8 | 98.5 | 79.1 | 80.2 | 79.8 | 81.2 | 99.2 | 108 | 138 | 105 | 122 | 135 | 136 | 129 | 123 |
| Depreciation | 234 | 222 | 246 | 224 | 197 | 205 | 205 | 206 | 197 | 166 | 194 | 187 | 180 | 167 | 184 | 181 | 179 | 151 | 184 | 184 | 179 | 168 | 177 | 174 | 181 | 169 | 188 | 193 | 192 | 190 | 197 | 194 | 191 | 189 |
| Profit before tax | 1,365 | 1,043 | 847 | 601 | 536 | 396 | 608 | 610 | 848 | 942 | 540 | 612 | 601 | 698 | 629 | 777 | 450 | 191 | 200 | 224 | 5 | 45.2 | 187 | 235 | 476 | −60.9 | 341 | −9.8 | −35.6 | 149 | 342 | −214 | −235 | −259 |
| Tax | 55.9 | −1.5 | 34 | 19.3 | 31.5 | 32.8 | 14.4 | 34.2 | 36 | 36.8 | 1.5 | 17.3 | 24.6 | −24.4 | 1.7 | 8 | −6.7 | 2.2 | −5.7 | 0.9 | −7.3 | −3.8 | 10.2 | 9.3 | 8.4 | −10.2 | 10.6 | 9.1 | 18.4 | 0.4 | 43.8 | 9.3 | 10.1 | 159 |
| Net profit | 1,309 | 1,044 | 813 | 581 | 505 | 363 | 594 | 576 | 812 | 905 | 538 | 595 | 576 | 722 | 627 | 769 | 457 | 189 | 205 | 223 | 12.4 | 49 | 176 | 225 | 468 | −50.7 | 331 | −18.9 | −54 | 148 | 299 | −223 | −245 | −418 |
| Net margin | 65.3% | 69.1% | 55.9% | 46.8% | 42.0% | 29.7% | 48.0% | 42.5% | 53.8% | 60.4% | 43.2% | 48.4% | 44.9% | 49.6% | 44.1% | 53.1% | 33.5% | 20.6% | 21.9% | 25.2% | 1.6% | 6.6% | 23.4% | 29.1% | 43.8% | -5.0% | 30.7% | -2.3% | -6.9% | 15.2% | 30.7% | -28.0% | -29.8% | -54.4% |
| EPS (₹) | 91.68 | 73.13 | 56.91 | 40.72 | 35.34 | 25.43 | 41.58 | 40.32 | 56.87 | 63.40 | 37.70 | 41.65 | 40.36 | 50.57 | 43.93 | 53.85 | 32.01 | 13.04 | 13.97 | 15.18 | 0.84 | 3.33 | 12.00 | 15.34 | 31.83 | -3.45 | 22.44 | -1.27 | -3.58 | 9.85 | 19.81 | -14.82 | -16.25 | -27.33 |
| Net profit YoY | +159.4% | +187.6% | +36.9% | +1.0% | −37.9% | −59.9% | +10.3% | −3.2% | +40.9% | +25.4% | −14.2% | −22.7% | +26.1% | +282.0% | +205.5% | +244.7% | +3597.7% | +285.6% | +16.4% | −1.1% | −97.4% | +196.7% | −46.7% | +1290.9% | +966.8% | −134.1% | +10.7% | +91.5% | +78.0% | +135.5% | – | – | – | – |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 5,409 | 5,323 | 5,255 | 5,690 | 3,509 | 3,337 | 3,687 | 3,547 | 3,038 |
| Other income | 903 | 834 | 664 | 481 | 160 | 232 | 262 | 283 | 338 |
| Total expenses | 3,287 | 3,695 | 3,224 | 3,618 | 3,049 | 2,626 | 3,713 | 3,788 | 3,298 |
| EBITDA | 3,148 | 2,677 | 3,022 | 3,128 | 1,528 | 1,653 | 1,166 | 1,053 | 964 |
| EBITDA margin | 58.2% | 50.3% | 57.5% | 55.0% | 43.5% | 49.6% | 31.6% | 29.7% | 31.7% |
| Finance costs | 136 | 236 | 265 | 343 | 370 | 242 | 450 | 521 | 455 |
| Depreciation | 889 | 813 | 726 | 712 | 698 | 700 | 743 | 773 | 769 |
| Profit before tax | 3,026 | 2,462 | 2,694 | 2,554 | 620 | 943 | 235 | 42.1 | 78.3 |
| Tax | 83.3 | 117 | 80.2 | −21.5 | −10 | 24.2 | 27.9 | 63.6 | 288 |
| Net profit | 2,943 | 2,344 | 2,614 | 2,575 | 630 | 919 | 207 | −21.5 | −210 |
| Net margin | 54.4% | 44.0% | 49.7% | 45.3% | 17.9% | 27.5% | 5.6% | -0.6% | -6.9% |
| EPS (₹) | 206.11 | 164.20 | 183.11 | 180.36 | 42.99 | 62.50 | 13.94 | -1.42 | -13.90 |
| Net profit YoY | +25.5% | −10.3% | +1.5% | +308.9% | −31.4% | +343.4% | +1065.7% | +89.8% | – |
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 | 2,854 | 2,647 | 2,808 | 2,975 | 1,323 |
| Investing cash flow | −1,187 | −191 | −915 | −38.3 | −375 |
| Financing cash flow | −1,769 | −1,675 | −1,330 | −1,893 | −1,189 |
| Capital expenditure | 2,372 | 1,175 | 845 | 465 | 574 |
| Free cash flow (CFO − capex) | 481 | 1,472 | 1,963 | 2,509 | 748 |
Net profit trend
annual, ₹ croreFY21
₹919
FY22
₹630−31%
FY23
₹2,575+309%
FY24
₹2,614+2%
FY25
₹2,344−10%
FY26
₹2,943+26%
Result filings
as filed with NSE · PDF and XBRL| Period | Basis | Filed | Documents |
|---|---|---|---|
| Q1 FY27 | Consolidated | 3 Aug 2026 | PDF on NSE XBRL |
| Q1 FY27 | Standalone | 3 Aug 2026 | PDF on NSE XBRL |
| Q4 FY26 | Consolidated | 14 May 2026 | PDF on NSE XBRL |
| Q4 FY26 | Standalone | 14 May 2026 | PDF on NSE XBRL |
| Q3 FY26 | Consolidated | 29 Jan 2026 | PDF XBRL |
| Q3 FY26 | Standalone | 29 Jan 2026 | PDF XBRL |
| Q2 FY26 | Consolidated | 7 Nov 2025 | PDF on NSE XBRL |
| Q2 FY26 | Standalone | 7 Nov 2025 | PDF on NSE XBRL |
| Q1 FY26 | Consolidated | 31 Jul 2025 | PDF on NSE XBRL |
| Q1 FY26 | Standalone | 31 Jul 2025 | PDF on NSE XBRL |
Annual reports
NSE archiveKey ratios
P/E (TTM)5Y avg 5.4×5.7×
P/B5Y avg 1.04×1.26×
ROEFY26, on average equity18.8%
Net margin54.4%
Debt / equity0.06×
Revenue CAGR (3Y)-1.7%
Profit CAGR (3Y)4.5%
EPS (TTM)₹262.44
Market cap₹21,376 Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
1.26×
vs 8-point avg 1.04× (+21%)
0.84× low1.04× avg1.27× high
History points are balance-sheet dates (2022 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹19,460 Cr+10%
Net worth₹16,962 Cr+19%
Total borrowings₹1,049 Cr−51%
Cash & bank balances₹4,337 Cr+5%
Investments₹2,392 Cr+4%
Inventories₹286 Cr+13%
Trade receivables₹639 Cr+33%
Trade payables₹360 Cr+24%
Change vs the same date a year earlier.
Revenue mix FY26
Shipping76.0%result ₹2,463 Cr
Offshore24.0%result ₹479 Cr
Segment revenue as reported, before inter-segment eliminations.