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Quarterly results

standalone · 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	327	330	351	691	335	337	338	336	332	331	338	351	353	378	360	360	360	366	371	364	362	371	349	346	344	369	343	342	362	350	376	385	389	421
Other income	5.1	15.1	8.2	23.9	5.1	3.5	3.2	10	4.9	3.4	4.2	4.3	39.3	15.8	4.3	4.9	2.5	6.1	2.3	2.6	3	17.5	2.8	16.3	2.6	6	6.1	3.8	4.5	3.4	2.9	0.9	4.8	9.7
Total expenses	263	358	339	1,141	572	589	552	560	539	534	536	525	494	563	828	683	642	562	570	573	582	703	559	534	555	647	589	642	574	634	566	668	607	863
EBITDA	143	49.8	94.5	193	79.9	45.7	90.7	65.2	74.2	40.3	74.7	115	136	136	−145	1.5	36	118	112	96.6	85.3	−32.1	93.3	112	95.7	46.4	83.1	27	107	1.8	95.3	16.1	70.4	−72.1
EBITDA margin	43.6%	15.1%	27.0%	28.0%	23.9%	13.6%	26.8%	19.4%	22.3%	12.2%	22.1%	32.7%	38.7%	35.9%	-40.4%	0.4%	10.0%	32.1%	30.2%	26.6%	23.6%	-8.6%	26.7%	32.5%	27.8%	12.5%	24.2%	7.9%	29.4%	0.5%	25.3%	4.2%	18.1%	-17.1%
Finance costs	22.8	22.3	25.9	519	253	238	241	229	220	210	193	206	196	201	195	196	190	187	187	180	179	169	168	161	165	175	170	166	152	142	130	139	123	136
Depreciation	55.7	55.2	57.3	124	64.1	60.2	63	59.9	61	33.4	80	82.2	82.5	120	127	129	128	127	125	126	126	130	136	139	142	149	158	161	166	144	155	160	165	234
Profit before tax	69.4	1,186	19.6	−426	−232	−249	−210	−214	−202	−215	−195	−170	−103	−756	−464	−318	−280	−853	−197	−207	−217	−683	−208	−172	−208	−1,121	−239	−297	−207	−857	−187	−282	−213	−1,847
Tax	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net profit	69.4	1,186	19.6	−426	−232	−249	−210	−214	−202	−215	−195	−170	−103	−756	−464	−318	−280	−853	−197	−207	−217	−683	−208	−172	−208	−1,121	−239	−297	−207	−857	−187	−282	−213	−1,847
Net margin	21.2%	358.9%	5.6%	-61.6%	-69.5%	-73.9%	-62.1%	-63.6%	-60.8%	-64.9%	-57.7%	-48.3%	-29.1%	-200.0%	-128.8%	-88.3%	-77.6%	-233.1%	-53.1%	-56.9%	-60.0%	-183.8%	-59.5%	-49.7%	-60.6%	-303.3%	-69.7%	-86.8%	-57.1%	-244.7%	-49.7%	-73.4%	-54.7%	-438.4%
EPS (₹)	0.05	0.91	0.01	-0.33	-0.18	-0.19	-0.16	-0.16	-0.15	-0.16	-0.15	-0.13	-0.08	-0.59	-0.36	-0.25	-0.22	-0.66	-0.15	-0.16	-0.17	-0.54	-0.16	-0.13	-0.16	-0.88	-0.19	-0.23	-0.16	-0.67	-0.15	-0.22	-0.17	-1.56
Net profit YoY	+129.9%	+576.3%	+109.3%	−99.0%	−15.0%	−15.9%	−8.0%	−26.3%	−97.1%	+71.6%	+58.0%	+46.7%	+63.3%	+11.4%	−135.3%	−53.5%	−28.8%	−25.0%	+5.1%	−20.4%	−4.2%	+39.1%	+13.2%	+42.0%	−0.7%	−30.7%	−28.0%	−5.1%	+2.8%	+53.6%	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Revenue from operations	1,372	1,344	1,372	1,458	1,463	1,410	1,417	1,500	2,333
Other income	47.1	21.6	51.2	27.5	14.2	39.2	20.3	12	183
Total expenses	1,838	2,241	2,089	2,716	2,288	2,351	2,451	2,475	2,989
EBITDA	334	276	366	27.7	412	269	262	184	714
EBITDA margin	24.3%	20.5%	26.7%	1.9%	28.1%	19.1%	18.5%	12.2%	30.6%
Finance costs	563	929	805	782	734	663	662	534	570
Depreciation	237	244	278	504	503	547	634	624	800
Profit before tax	779	−875	−681	−1,817	−1,475	−1,271	−1,864	−1,539	−1,893
Tax	0	0	0	0	0	0	0	0	0
Net profit	779	−875	−681	−1,817	−1,475	−1,271	−1,864	−1,539	−1,893
Net margin	56.8%	-65.1%	-49.7%	-124.6%	-100.8%	-90.1%	-131.5%	-102.6%	-81.1%
EPS (₹)	0.60	-0.67	-0.52	-1.41	-1.14	-1.00	-1.46	-1.21	-1.60
Net profit YoY	+189.0%	−28.4%	+62.5%	−23.2%	−16.0%	+31.8%	−21.1%	+18.7%	–

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	535	635	194	497	503
Investing cash flow	7.5	37.3	−12.5	−36.7	−64.2
Financing cash flow	−1,256	−255	−267	−453	−387
Capital expenditure	61.7	50.8	33.8	66.2	87.6
Free cash flow (CFO − capex)	474	585	161	431	416

Net profit trend

annual, ₹ crore

FY21

₹−1,271

FY22

₹−1,475−16%

FY23

₹−1,817−23%

FY24

₹−681+62%

FY25

₹−875−28%

FY26

₹779+189%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Standalone	6 Aug 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	13 May 2026	PDF on NSE XBRL
Q3 FY26	Standalone	10 Feb 2026	PDF XBRL
Q2 FY26	Standalone	–	PDF XBRL
Q2 FY26	Standalone	14 Nov 2025	PDF XBRL
Q1 FY26	Standalone	7 Aug 2025	PDF XBRL
Q4 FY25	Standalone · audited	8 May 2025	PDF XBRL
Q3 FY25	Standalone	5 Feb 2025	PDF on NSE XBRL
Q2 FY25	Standalone	14 Nov 2024	PDF on NSE XBRL
Q1 FY25	Standalone	14 Aug 2024	PDF on NSE XBRL

Annual reports

NSE archive

FY264.71 MB FY255.83 MB FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)1.7×

P/B-0.28×

ROEFY26, on average equity-13.9%

Net margin56.8%

Debt / equity-1.04×

Revenue CAGR (3Y)-2.0%

Profit CAGR (3Y)–

EPS (TTM)₹0.66

Market cap₹1,435 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₹3,125 Cr−24%

Net worth₹-5,215 Cr+13%

Total borrowings₹5,416 Cr+70%

Cash & bank balances₹116 Cr−86%

Investments₹0 Cr−100%

Inventories₹3 Cr−32%

Trade receivables₹41 Cr−50%

Trade payables₹7 Cr−73%

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	3.28	3.28	3.28	3.28	3.28	3.28	3.28	3.28	3.28	3.28	3.28	3.28
FII	0.77	0.07	0.04	0.01	0.13	0.05	0.01	0.12	0.17	0.12	0.10	0.12
DII	31.20	31.29	32.19	32.87	33.78	35.20	36.14	37.00	42.18	43.25	44.42	45.17
Retail	59.90	61.25	60.28	59.66	58.59	57.41	56.40	54.99	49.38	48.93	47.55	47.16
Other public	4.85	4.11	4.21	4.18	4.22	4.06	4.17	4.61	4.99	4.42	4.65	4.27

26,75,623 shareholders · NSE shareholding pattern filings.