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Quarterly results

consolidated · as filed with NSE · Q1 FY27 back to Q2 FY20

₹ 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
Revenue from operations	638	604	874	1,825	602	476	451	521	520	610	599	557	467	403	332	314	320	374	349	283	231	300	233	258	121	263	259	306
Other income	20.6	13	10.5	35.4	19.6	6.8	1.5	12.2	5.5	6.5	5.3	3.4	2.7	5.1	5	4.3	3.3	4.7	2.9	3.7	3	2.3	2.6	2.2	2.5	6.8	3.8	4.4
Total expenses	509	546	587	1,122	428	411	373	426	422	494	500	469	401	370	305	290	294	331	314	268	226	286	226	248	138	257	255	301
EBITDA	147	74.7	302	736	192	79.5	93.6	109	110	131	113	101	77.9	44.8	38.4	33.3	35	53.3	45.5	25	15.2	24.4	20.6	24.8	−2.4	22.3	18.4	20.8
EBITDA margin	23.0%	12.4%	34.6%	40.3%	31.9%	16.7%	20.8%	20.8%	21.2%	21.6%	18.9%	18.1%	16.7%	11.1%	11.5%	10.6%	10.9%	14.3%	13.0%	8.8%	6.6%	8.1%	8.8%	9.6%	-2.0%	8.5%	7.1%	6.8%
Finance costs	5.4	2.3	2.6	9.8	6.3	3.7	4.7	2.8	1.9	4.2	3.3	3.4	2.1	2.5	2.1	1.1	0.9	2.3	2	1.1	2	1.7	3.9	4.9	4.3	6.6	5	5.1
Depreciation	12.4	14.6	12.3	23.7	11.5	10.9	11.2	11.3	10.8	10.9	10.8	10	9.5	10	8.7	8.4	8.3	8.4	8.7	8.9	9	9.2	9.9	9.5	10.3	10.4	9.7	10.7
Profit before tax	149	67.5	297	711	191	70.6	79.2	107	103	97.8	102	90.7	69.1	36.1	33.4	29.9	29	45.8	36.8	16.6	22.3	12.6	8.9	11.1	−14.5	11.8	7.4	9.7
Tax	38.5	15.4	79.5	182	49.3	18.3	20.8	30.9	27.3	32.3	23.1	23.5	17.6	1.2	10.7	10.4	9	13.3	11.9	1.7	1.7	2.1	1.3	2.5	−0.2	3.2	3.5	3.2
Net profit	109	63.8	221	531	143	45	64.6	87.3	80.1	81.4	79	68.7	51.7	34.8	23.7	20.1	20	33.4	24.8	15	20.7	10.2	8.2	9	−13.6	9.3	4.2	6.5
Net margin	17.1%	10.6%	25.2%	29.1%	23.8%	9.5%	14.3%	16.8%	15.4%	13.3%	13.2%	12.3%	11.1%	8.6%	7.1%	6.4%	6.3%	8.9%	7.1%	5.3%	9.0%	3.4%	3.5%	3.5%	-11.3%	3.6%	1.6%	2.1%
EPS (₹)	3.95	2.32	7.95	19.12	5.16	0.00	2.31	3.13	2.87	2.90	2.84	2.47	1.86	1.26	0.83	0.71	0.71	1.21	0.89	0.53	0.72	0.35	0.30	0.31	-0.51	0.26	0.14	0.25
Net profit YoY	−23.8%	+41.8%	+241.5%	+508.0%	+78.9%	−44.8%	−18.3%	+27.1%	+54.8%	+134.0%	+232.9%	+242.0%	+158.2%	+4.1%	−4.4%	+34.2%	−3.0%	+229.2%	+203.4%	+65.9%	+251.5%	+8.7%	+95.6%	+39.0%	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20
Revenue from operations	3,303	1,967	2,233	1,369	1,236	912	1,092
Other income	59	26.1	17.9	17.7	14.4	9.6	16.6
Total expenses	2,255	1,632	1,864	1,259	1,140	898	1,074
EBITDA	1,113	392	423	151	139	67.4	80.5
EBITDA margin	33.7%	19.9%	19.0%	11.1%	11.2%	7.4%	7.4%
Finance costs	14.7	13	12.9	6.5	7.5	14.7	22.2
Depreciation	50.6	44.2	41.3	35.5	35.1	38.8	40.7
Profit before tax	1,075	360	359	128	122	18.1	39.1
Tax	277	97.4	96.4	31.4	28.7	5.7	13.9
Net profit	815	277	281	98.7	93.9	13.7	26.2
Net margin	24.7%	14.1%	12.6%	7.2%	7.6%	1.5%	2.4%
EPS (₹)	29.39	0.00	10.07	3.51	3.35	0.44	0.85
Net profit YoY	+194.3%	−1.4%	+184.7%	+5.1%	+584.1%	−47.6%	–

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	780	463	424	151	164
Investing cash flow	−254	347	−39.1	−60.9	95.9
Financing cash flow	−113	16.3	8.2	−8.2	18.8
Capital expenditure	150	−122	−53.2	65	−68.1
Free cash flow (CFO − capex)	629	341	371	86.4	95.4

Net profit trend

annual, ₹ crore

FY21

₹13.7

FY22

₹93.9+584%

FY23

₹98.7+5%

FY24

₹281+185%

FY25

₹277−1%

FY26

₹815+194%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	8 Aug 2026	PDF on NSE XBRL
Q1 FY27	Standalone	8 Aug 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	24 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	24 May 2026	PDF XBRL
Q3 FY26	Consolidated	7 Feb 2026	PDF on NSE XBRL
Q3 FY26	Standalone	7 Feb 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	8 Nov 2025	PDF XBRL
Q2 FY26	Standalone	8 Nov 2025	PDF XBRL
Q1 FY26	Consolidated	9 Aug 2025	PDF on NSE XBRL
Q1 FY26	Standalone	9 Aug 2025	PDF XBRL

Annual reports

NSE archive

FY263.10 MB FY253.45 MB FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 34.9×24.2×

P/B5Y avg 7.88×10.09×

ROEFY26, on average equity44.1%

Net margin24.7%

Debt / equity0.02×

Revenue CAGR (3Y)34.1%

Profit CAGR (3Y)102.1%

EPS (TTM)₹33.33

Market cap₹22,342 Cr

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

P/B vs history

10.09×

vs 8-point avg 7.88× (+28%)

2.78× low7.88× avg12.19× high

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

Balance sheet 31 Mar 2026

Total assets₹2,942 Cr+49%

Net worth₹2,214 Cr+49%

Total borrowings₹44 Cr−20%

Cash & bank balances₹528 Cr+352%

Investments₹272 Cr+58%

Inventories₹562 Cr+5%

Trade receivables₹646 Cr+73%

Trade payables₹185 Cr+2%

Change vs the same date a year earlier.

Revenue mix FY26

Electronics50.0%result ₹818 Cr

Industrial Batteries43.5%result ₹341 Cr

Defence & aviation batteries6.5%result ₹57.6 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	Jun 24	Mar 24	Dec 23	Sept 23
Promoter	59.11	59.11	59.11	59.11	59.11	59.11	59.11	59.11	59.11	59.11	59.11	59.11
FII	5.62	5.94	5.87	7.10	4.83	4.83	5.22	4.90	4.65	4.59	2.66	2.23
DII	0.98	0.79	0.82	0.65	0.36	0.36	0.39	0.97	1.07	0.66	0.41	0.08
of which MF	0.32	0.38	0.35	0.29	0.21	–	–	–	–	–	–	–
Retail	29.05	29.02	29.18	28.09	30.22	30.22	30.41	30.25	30.83	31.25	32.95	33.54
Other public	5.24	5.14	5.02	5.05	5.48	5.48	4.87	4.77	4.34	4.39	4.87	5.04

3,49,936 shareholders · NSE shareholding pattern filings.