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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 FY18
Revenue from operations	1,245	1,125	1,044	1,083	1,105	1,075	1,029	991	977	1,002	921	971	913	1,138	1,123	1,127	1,128	1,141	1,075	826	716	671	650	638	470	622	656	699	749	0
Other income	7.7	18.4	30.5	59.3	8.5	24.4	15.2	49.3	3.3	2.5	4.7	71	11.8	8.1	6.2	21.9	5.9	7	2.6	21.6	15.3	8.9	17.4	28.1	13	18	18.2	36.7	16.9	0
Total expenses	1,143	1,135	1,062	1,129	1,104	1,077	1,040	1,027	1,011	1,082	1,021	1,032	958	991	945	964	798	845	760	733	639	628	618	579	437	592	604	589	537	0
EBITDA	222	110	105	73.9	117	114	98	74.9	73.8	28.9	7.3	45.2	54.7	243	264	226	382	350	366	142	127	96.5	78.6	105	78.5	79.9	94.4	151	252	0
EBITDA margin	17.8%	9.8%	10.0%	6.8%	10.6%	10.6%	9.5%	7.6%	7.5%	2.9%	0.8%	4.7%	6.0%	21.3%	23.5%	20.0%	33.8%	30.7%	34.1%	17.2%	17.7%	14.4%	12.1%	16.4%	16.7%	12.8%	14.4%	21.7%	33.7%	–
Finance costs	16.2	15.5	18.5	15.8	13.7	18.2	10.4	11.1	10.9	12.1	11.2	10.8	10.5	7.7	7.6	2.6	1.6	1.2	1.4	1.3	2.3	8.7	1.9	1.8	3.1	2.9	4	3.2	4	0
Depreciation	103	105	104	104	102	97.2	98.3	100	96.7	96.7	96	95.2	89.5	87.5	79.2	59.6	49.8	52.3	50	48.7	46.8	44.2	44.7	43.2	42.3	47.6	38.8	38.3	37	0
Profit before tax	110	8.3	12.6	13.5	9.6	22.8	4.5	13	−30.4	−77.4	−95.3	10.3	−33.5	155	184	186	336	304	318	114	93.1	52.5	49.5	87.8	46	47.4	69.8	146	228	0
Tax	56.6	0.4	23.8	−2.8	1.8	1.4	−4.1	2.4	−5.8	−56.2	−7.4	−0.1	0	43.6	69.9	57.9	114	82.3	116	38.9	29.6	17.5	16	21.4	14	35.5	10	44.2	69.1	0
Net profit	55	15	−20	16.3	−13.8	8.8	−11.2	−18.2	−44.5	−46.2	−115	−18.4	−57.2	71	87.2	60.5	191	221	201	74.6	63.1	34.7	33.2	66.1	31.8	11.4	59.6	102	159	0
Net margin	4.4%	1.3%	-1.9%	1.5%	-1.2%	0.8%	-1.1%	-1.8%	-4.6%	-4.6%	-12.5%	-1.9%	-6.3%	6.2%	7.8%	5.4%	16.9%	19.3%	18.7%	9.0%	8.8%	5.2%	5.1%	10.3%	6.8%	1.8%	9.1%	14.6%	21.2%	–
EPS (₹)	7.49	2.04	-2.72	2.23	-1.88	1.20	-1.53	-2.48	-6.06	-6.29	-15.68	-2.50	-7.78	9.68	11.87	8.24	25.99	30.05	27.42	10.15	8.60	4.72	4.53	8.99	4.33	1.55	8.11	13.93	21.62	0.00
Net profit YoY	+499.0%	+69.8%	−77.6%	+189.9%	+69.1%	+119.1%	+90.2%	+1.0%	+22.1%	−165.0%	−232.1%	−130.3%	−129.9%	−67.8%	−56.7%	−18.8%	+202.4%	+536.7%	+506.2%	+12.9%	+98.4%	+204.0%	−44.2%	−35.4%	−80.0%	–	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY18
Revenue from operations	4,358	4,073	3,807	4,517	3,759	2,429	2,725	2,514
Other income	117	92.1	90.1	42.2	46.4	67.5	89.8	106
Total expenses	4,431	4,155	4,093	3,697	2,976	2,261	2,323	1,869
EBITDA	405	360	136	1,115	986	358	578	787
EBITDA margin	9.3%	8.8%	3.6%	24.7%	26.2%	14.7%	21.2%	31.3%
Finance costs	63.4	50.5	44.6	19.5	6.2	15.5	14	14.9
Depreciation	414	392	377	276	198	174	162	127
Profit before tax	44	9.7	−196	861	829	236	492	750
Tax	23.1	−6.1	−63.6	285	267	69	159	215
Net profit	−2.4	−65.1	−237	410	560	166	332	535
Net margin	-0.1%	-1.6%	-6.2%	9.1%	14.9%	6.8%	12.2%	21.3%
EPS (₹)	-0.33	-8.87	-32.25	55.78	76.22	22.57	45.22	72.78
Net profit YoY	+96.3%	+72.5%	−157.8%	−26.8%	+237.7%	−50.1%	–	–

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	430	462	171	1,126	737
Investing cash flow	−251	−345	−195	−827	−808
Financing cash flow	−150	−145	−277	−140	11.7
Capital expenditure	259	325	231	683	909
Free cash flow (CFO − capex)	171	137	−60	443	−172

Net profit trend

annual, ₹ crore

FY21

₹166

FY22

₹560+238%

FY23

₹410−27%

FY24

₹−237−158%

FY25

₹−65.1+73%

FY26

₹−2.4+96%

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	29 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	29 May 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	6 Feb 2026	PDF on NSE XBRL
Q3 FY26	Standalone	6 Feb 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	7 Nov 2025	PDF XBRL
Q2 FY26	Standalone	7 Nov 2025	PDF XBRL
Q1 FY26	Consolidated	8 Aug 2025	PDF XBRL
Q1 FY26	Consolidated	–	PDF XBRL

Annual reports

NSE archive

FY267.04 MB FY259.59 MB FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 10.5×69.8×

P/B5Y avg 0.84×0.89×

ROEFY26, on average equity-0.0%

Net margin-0.1%

Debt / equity0.11×

Revenue CAGR (3Y)-1.2%

Profit CAGR (3Y)–

EPS (TTM)₹9.03

Market cap₹4,633 Cr

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

P/B vs history

0.89×

vs 8-point avg 0.84× (+7%)

0.70× low0.84× avg1.02× high

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

Balance sheet 31 Mar 2026

Total assets₹7,533 Cr−6%

Net worth₹5,191 Cr−8%

Total borrowings₹568 Cr+3%

Cash & bank balances₹157 Cr+25%

Investments₹1,323 Cr−21%

Inventories₹450 Cr−7%

Trade receivables₹407 Cr+55%

Trade payables₹490 Cr−3%

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	47.28	47.28	46.28	46.28	46.28	46.28	46.28	46.28	46.28	46.28	46.28	46.28
FII	3.26	0.94	0.96	1.02	1.02	1.71	1.79	1.94	1.92	2.10	2.07	1.88
DII	3.02	3.73	4.75	4.53	4.35	4.17	4.14	3.77	3.46	3.14	2.17	1.96
of which MF	1.35	2.14	3.17	3.16	2.85	–	–	–	–	–	–	–
Retail	15.03	16.53	16.37	16.54	16.60	16.26	16.33	16.54	16.81	16.92	17.83	18.27
Other public	31.41	31.52	31.64	31.63	31.75	31.58	31.46	31.47	31.53	31.56	31.65	31.61

64,106 shareholders · NSE shareholding pattern filings.