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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	157	145	135	132	124	160	132	132	126	138	110	114	99.3	95.5	114	117	124	111	93.4	101	83.1	88.3	84.6	75.2	31.6	79.4	90.6	88.8	89.8	0	0
Other income	0.5	0.5	0.5	0.8	0.9	0.2	0.4	0.2	0.5	0.2	0.5	0.4	0.5	1.2	1.8	6.4	0.1	0.5	0	0.3	0.3	1.2	0.3	0.2	0.1	0.3	0.1	0.1	0.1	0	0
Total expenses	149	145	133	130	121	135	127	128	119	120	104	108	97.4	94.4	112	116	123	108	92.4	99.3	82.8	84.9	82.6	74.2	39.2	82.1	91.7	88.7	89.2	0	0
EBITDA	16.9	8.9	10.7	10.6	9.9	32.9	12.6	9.8	12.8	22.7	10.4	11.1	6.5	5.8	6.8	6	6.1	8	5.6	5.4	4.2	7.5	6.6	5.2	−2.4	4.5	4.5	4.8	5.1	0	0
EBITDA margin	10.8%	6.2%	8.0%	8.0%	8.0%	20.5%	9.6%	7.4%	10.1%	16.5%	9.5%	9.7%	6.6%	6.1%	6.0%	5.1%	4.9%	7.2%	6.0%	5.4%	5.0%	8.5%	7.8%	7.0%	-7.7%	5.7%	5.0%	5.4%	5.7%	–	–
Finance costs	4	4	3.9	3.5	3.4	3.2	2.9	2.2	2.1	1.7	1.9	1.9	1.8	1.8	1.6	1.5	1.6	1.2	1.4	1	0.9	0.9	1.4	1	2.1	3.7	2	1.3	1.1	0	0
Depreciation	5	5	4.9	4.5	4.2	4.2	4.1	4	3.8	3.4	3.3	3	2.8	2.9	3	3.3	3.2	3.2	3.2	3	3	3.1	3.2	3.4	3	3.4	3.6	3.4	3.3	0	0
Profit before tax	8.4	0.5	1.1	3.3	3.2	25.7	6	3.9	7.3	15.4	5.7	6.6	2.5	2.3	4	7.6	1.4	4.1	1.1	1.7	0.6	4.7	2.3	1.1	−7.4	−2.3	−1	0.3	0.7	0	0
Tax	4.2	1.8	0.2	1.4	1.5	6.2	1.7	1.4	2.9	3.7	1.4	2	0.5	−0.5	0.1	1.5	0.3	1.8	0.3	−1.7	1.3	−0	0.7	0.2	−1.8	−1	−0.7	−0.2	−3.4	0	0
Net profit	4.2	−1.3	0.9	2	1.7	19.4	4.4	2.5	4.4	11.7	4.3	4.7	2	2.8	4	6.2	1.1	2.3	0.8	3.4	−0.7	4.7	1.6	0.9	−5.6	−1.4	−0.3	0.5	4.1	0	0
Net margin	2.7%	-0.9%	0.6%	1.5%	1.4%	12.1%	3.3%	1.9%	3.5%	8.5%	3.9%	4.1%	2.0%	2.9%	3.5%	5.3%	0.9%	2.1%	0.8%	3.3%	-0.9%	5.3%	1.9%	1.2%	-17.6%	-1.7%	-0.3%	0.6%	4.6%	–	–
EPS (₹)	7.87	-2.51	1.60	3.67	3.28	36.46	8.22	4.70	32.75	87.54	32.34	35.16	14.74	20.64	29.65	46.16	8.16	17.40	5.93	25.26	-5.38	35.32	12.31	6.71	-41.82	-10.27	-2.21	3.70	31.04	0.00	0.00
Net profit YoY	+140.2%	−106.9%	−80.5%	−21.9%	−60.0%	+66.6%	+1.7%	−46.5%	+122.1%	+324.1%	+9.1%	−23.8%	+80.7%	+18.7%	+400.4%	+82.8%	+251.8%	−50.7%	−51.9%	+276.2%	+87.1%	+443.9%	+656.5%	+81.5%	−234.7%	–	–	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Revenue from operations	535	550	461	451	388	280	349	357	0
Other income	2.7	1.4	1.6	9.5	1.2	1.9	0.6	0.4	0
Total expenses	529	509	430	445	382	281	352	350	0
EBITDA	40.2	68.1	50.7	24.8	23.2	16.9	18.9	25.4	0
EBITDA margin	7.5%	12.4%	11.0%	5.5%	6.0%	6.0%	5.4%	7.1%	–
Finance costs	14.8	10.5	7.3	6.5	4.5	5.4	8.2	4.6	0
Depreciation	18.7	16	12.5	12.5	12.4	12.7	13.6	13.3	0
Profit before tax	8.1	42.9	30.2	15.3	7.4	0.7	−2.3	7.8	0
Tax	4.8	12.2	7.5	1.4	1.7	−0.9	−5.2	1.9	0
Net profit	3.2	30.7	22.6	13.9	5.8	1.7	3	5.3	0
Net margin	0.6%	5.6%	4.9%	3.1%	1.5%	0.6%	0.9%	1.5%	–
EPS (₹)	6.04	57.57	169.78	104.61	43.20	12.52	22.26	39.95	0.00
Net profit YoY	−89.5%	+35.6%	+62.3%	+142.1%	+245.1%	−43.8%	−44.3%	–	–

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	29.6	44.6	27	25.1	1.5
Investing cash flow	−55.9	−61.3	−42.1	−5.5	−38.3
Financing cash flow	25.8	17.8	14.7	−19.4	23.4
Capital expenditure	46.1	65.9	57.3	30.2	24.1
Free cash flow (CFO − capex)	−16.5	−21.3	−30.3	−5.1	−22.5

Net profit trend

annual, ₹ crore

FY21

₹1.7

FY22

₹5.8+245%

FY23

₹13.9+142%

FY24

₹22.6+62%

FY25

₹30.7+36%

FY26

₹3.2−90%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	23 Jul 2026	PDF on NSE XBRL
Q1 FY27	Standalone	23 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	10 Feb 2026	PDF on NSE XBRL
Q3 FY26	Standalone	10 Feb 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	14 Nov 2025	PDF on NSE XBRL
Q2 FY26	Standalone	13 Nov 2025	PDF on NSE XBRL
Q1 FY26	Consolidated	25 Jul 2025	PDF on NSE XBRL
Q1 FY26	Standalone	25 Jul 2025	PDF on NSE XBRL

Annual reports

NSE archive

FY267.44 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)188.0×

P/B5.98×

ROEFY26, on average equity1.7%

Net margin0.6%

Debt / equity1.16×

Revenue CAGR (3Y)5.9%

Profit CAGR (3Y)-38.6%

EPS (TTM)₹10.63

Market cap₹1,066 Cr

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

Balance sheet 31 Mar 2026

Total assets₹462 Cr+12%

Net worth₹178 Cr−7%

Total borrowings₹206 Cr+41%

Cash & bank balances₹0 Cr−62%

Investments₹14 Cr+729%

Inventories₹52 Cr−3%

Trade receivables₹109 Cr+9%

Trade payables₹29 Cr+2%

Change vs the same date a year earlier.

Revenue mix FY26

a) Reclaim Rubber85.8%result ₹55 Cr

b) Others14.2%result ₹−2.1 Cr

Segment revenue as reported, before inter-segment eliminations.

Shareholding 30 Jun 2026

%	Jun 26	Mar 26	Dec 25	Sept 25	Jun 25	Mar 25	Dec 24	Sept 24	Aug 24	Jun 24	Mar 24	Dec 23
Promoter	40.05	40.06	40.06	40.06	40.06	40.06	40.19	40.30	40.30	40.30	40.36	40.36
FII	0.02	0.05	0.02	0.02	0.03	0.05	0.01	0.05	0.03	0.00	0.00	0.00
DII	0.00	0.00	0.00	0.00	0.38	0.38	0.38	0.00	0.00	0.00	0.00	0.00
Retail	44.13	42.12	44.80	45.78	45.64	45.29	44.70	45.73	45.91	47.51	47.97	48.14
Other public	15.80	17.77	15.12	14.14	13.89	14.22	14.72	13.92	13.76	12.19	11.67	11.50

7,932 shareholders · NSE shareholding pattern filings.