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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	Q4 FY18
Revenue from operations	5,282	6,200	6,314	6,638	4,924	5,462	4,988	4,812	4,290	3,938	3,346	4,119	2,469	2,639	2,744	2,776	2,864	2,761	2,620	2,694	2,321	2,688	2,273	1,883	1,543	0	1,611	1,226	1,279	0	1,150
Other income	13.1	13.4	8.2	9.2	8.9	9.7	8.2	8.2	7.9	9.4	7.9	7.2	7.2	7	3.8	3.4	2.5	5.5	3.5	4	3.3	5.6	2.8	3.6	3.1	0	3.6	3.2	2.2	0	2.5
Total expenses	5,137	6,065	6,214	6,509	4,844	5,402	4,905	4,724	4,231	3,887	3,311	4,083	2,445	2,596	2,700	2,741	2,830	2,696	2,587	2,668	2,306	2,666	2,258	1,875	1,537	0	1,605	1,223	1,275	0	1,157
EBITDA	204	195	162	186	134	122	140	150	116	94.4	78.2	81.1	58.7	78.2	77.7	66	59.6	86	53.5	47.6	38.1	45.1	37.7	30.8	28.7	0	33.1	28.9	29.5	0	19.7
EBITDA margin	3.9%	3.1%	2.6%	2.8%	2.7%	2.2%	2.8%	3.1%	2.7%	2.4%	2.3%	2.0%	2.4%	3.0%	2.8%	2.4%	2.1%	3.1%	2.0%	1.8%	1.6%	1.7%	1.7%	1.6%	1.9%	–	2.1%	2.4%	2.3%	–	1.7%
Finance costs	44.2	45.5	46.5	42.3	40	48.2	43.7	48.7	42	34.5	35.8	37.5	27	27.8	26.1	23.2	17.6	13.4	13.6	14.4	14.9	14.8	14.4	16.9	15.5	0	21.2	20.8	20.9	0	19
Depreciation	14.5	14.6	14.7	14.3	13	13.6	13.4	13.2	14.3	9.2	7.6	7.6	7.5	7.2	7.1	7.3	7.2	7	7.2	7.5	7.5	7.5	8.4	6.4	7.4	0	5.5	5.3	5.2	0	7.6
Profit before tax	158	148	109	139	89.6	70.1	91	96.7	67.5	60.1	42.6	43.2	31.5	50.2	48.3	39	37.2	71.1	36.2	29.6	19	28.4	17.7	11	8.8	0	10	6	5.6	0	−4.4
Tax	35.4	29.1	30.8	37.4	17.9	21.3	18.5	25.2	14.6	15.8	9	9.4	7.4	12.4	11.4	9.5	9	13.3	7.1	7.8	4.9	9.5	5.5	3.5	2.8	0	2.9	1.6	1.2	0	−3.3
Net profit	123	119	77.7	101	71.6	48.7	72.5	71.5	52.9	44.2	33.7	33.8	24	37.8	36.8	29.5	28.3	57.9	29.1	21.8	14.1	19	12.2	7.5	6	0	7.2	4.4	4.3	0	−1.1
Net margin	2.3%	1.9%	1.2%	1.5%	1.5%	0.9%	1.5%	1.5%	1.2%	1.1%	1.0%	0.8%	1.0%	1.4%	1.3%	1.1%	1.0%	2.1%	1.1%	0.8%	0.6%	0.7%	0.5%	0.4%	0.4%	–	0.4%	0.4%	0.3%	–	-0.1%
EPS (₹)	4.16	4.03	2.63	6.86	4.85	3.30	4.91	4.84	3.59	3.00	2.28	2.29	1.63	2.62	2.57	2.06	1.98	4.25	2.03	1.65	1.07	1.44	0.92	0.57	0.45	0.00	0.54	0.34	0.33	0.00	-0.09
Net profit YoY	+71.3%	+144.1%	+7.2%	+41.5%	+35.3%	+10.1%	+115.3%	+111.5%	+120.0%	+17.0%	−8.6%	+14.6%	−14.9%	−34.6%	+26.5%	+35.1%	+100.3%	+204.9%	+138.7%	+190.3%	+135.4%	–	+70.2%	+69.8%	+37.9%	–	–	–	–	+100.0%	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Revenue from operations	24,077	19,551	13,854	10,740	10,391	8,387	5,587	4,546	5,063
Other income	39.7	34	31.7	16.8	16.6	15.2	13.1	9.9	10.7
Total expenses	23,631	19,260	13,708	10,582	10,251	8,336	5,574	4,542	5,054
EBITDA	676	528	295	282	225	142	120	118	107
EBITDA margin	2.8%	2.7%	2.1%	2.6%	2.2%	1.7%	2.1%	2.6%	2.1%
Finance costs	174	183	118	94.7	56.2	61.6	83.8	83.7	69.7
Depreciation	56.6	54.5	31.9	28.9	29.3	29.8	22.6	29.8	27.7
Profit before tax	485	325	177	175	156	66	26.4	14.1	20.2
Tax	115	79.6	41.6	42.3	33.1	21.4	7.2	3.2	4.7
Net profit	369	246	136	132	123	44.7	19.2	10.9	15.5
Net margin	1.5%	1.3%	1.0%	1.2%	1.2%	0.5%	0.3%	0.2%	0.3%
EPS (₹)	12.52	16.64	9.20	9.18	9.02	3.39	1.46	0.83	1.17
Net profit YoY	+50.4%	+80.9%	+2.5%	+7.7%	+175.0%	+132.8%	+76.4%	−29.6%	–

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	325	467	355	19.9	40.4
Investing cash flow	−186	−217	−297	−199	100
Financing cash flow	−131	−247	2.4	143	−22
Capital expenditure	106	238	318	209	0.2
Free cash flow (CFO − capex)	219	229	37.3	−190	40.3

Net profit trend

annual, ₹ crore

FY21

₹44.7

FY22

₹123+175%

FY23

₹132+8%

FY24

₹136+3%

FY25

₹246+81%

FY26

₹369+50%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	29 Jul 2026	PDF on NSE XBRL
Q1 FY27	Standalone	29 Jul 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	15 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	15 May 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	5 Feb 2026	PDF on NSE XBRL
Q3 FY26	Standalone	5 Feb 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	12 Nov 2025	PDF on NSE XBRL
Q2 FY26	Standalone	12 Nov 2025	PDF on NSE XBRL
Q1 FY26	Consolidated	12 Aug 2025	PDF on NSE XBRL
Q1 FY26	Standalone	–	PDF on NSE XBRL

Annual reports

NSE archive

FY2611.38 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 13.0×15.6×

P/B5Y avg 3.18×4.60×

ROEFY26, on average equity30.0%

Net margin1.5%

Debt / equity0.40×

Revenue CAGR (3Y)30.9%

Profit CAGR (3Y)40.8%

EPS (TTM)₹14.25

Market cap₹6,548 Cr

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

P/B vs history

4.60×

vs 8-point avg 3.18× (+45%)

2.05× low3.18× avg4.78× high

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

Balance sheet 31 Mar 2026

Total assets₹4,928 Cr+21%

Net worth₹1,423 Cr+37%

Total borrowings₹571 Cr+8%

Cash & bank balances₹153 Cr+5%

Investments₹111 Cr+550%

Inventories₹2,323 Cr+24%

Trade receivables₹592 Cr+9%

Trade payables₹2,654 Cr+14%

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	74.24	74.24	74.24	73.67	73.67	73.67	73.67	73.67	73.67	73.62	72.56	72.56
FII	1.88	1.51	1.58	1.87	1.44	1.51	1.35	1.11	0.82	0.76	0.05	0.06
DII	0.11	0.08	0.01	0.01	0.01	0.04	0.03	0.05	0.00	0.00	0.00	0.00
of which MF	0.08	0.08	0.00	0.00	0.00	–	–	–	–	–	–	–
Retail	12.16	12.74	13.09	12.81	13.41	12.85	13.90	14.17	13.71	14.06	14.57	14.68
Other public	11.61	11.43	11.08	11.64	11.47	11.93	11.05	11.00	11.80	11.56	12.82	12.70

50,407 shareholders · NSE shareholding pattern filings.