Quarterly results
consolidated · as filed with NSE · Q1 FY27 back to Q4 FY19
| ₹ 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 1,45,225 | 1,23,693 | 1,24,583 | 1,10,397 | 1,20,193 | 1,18,474 | 1,19,039 | 1,08,268 | 1,20,943 | 1,21,653 | 1,18,484 | 1,02,669 | 1,19,162 | 1,14,573 | 1,16,211 | 1,14,217 | 1,21,496 | 1,05,350 | 1,03,489 | 87,654 | 77,634 | 85,265 | 77,483 | 61,662 | 46,169 | 71,654 | 74,660 | 66,544 | 74,874 | 0 |
| Other income | 619 | 620 | 607 | 522 | 507 | 574 | 462 | 506 | 545 | 447 | 529 | 341 | 599 | 578 | 274 | 280 | 333 | 1,183 | 478 | 431 | 347 | 490 | 842 | 778 | 533 | 405 | 385 | 294 | 597 | 0 |
| Total expenses | 1,64,044 | 1,17,960 | 1,19,993 | 1,05,981 | 1,15,042 | 1,15,059 | 1,15,528 | 1,08,034 | 1,21,072 | 1,19,123 | 1,18,289 | 96,267 | 1,11,515 | 1,11,219 | 1,16,354 | 1,17,429 | 1,35,439 | 1,04,593 | 1,02,915 | 85,747 | 75,626 | 81,717 | 75,212 | 59,209 | 43,024 | 73,164 | 73,790 | 65,354 | 74,271 | 0 |
| EBITDA | −16,122 | 9,211 | 6,998 | 6,852 | 7,572 | 5,795 | 5,959 | 2,708 | 2,089 | 4,882 | 2,160 | 8,240 | 9,646 | 5,130 | 1,674 | −1,515 | −12,496 | 2,172 | 1,852 | 3,026 | 3,194 | 4,737 | 3,297 | 3,608 | 4,361 | −325 | 2,017 | 2,316 | 1,654 | 0 |
| EBITDA margin | -11.1% | 7.4% | 5.6% | 6.2% | 6.3% | 4.9% | 5.0% | 2.5% | 1.7% | 4.0% | 1.8% | 8.0% | 8.1% | 4.5% | 1.4% | -1.3% | -10.3% | 2.1% | 1.8% | 3.5% | 4.1% | 5.6% | 4.3% | 5.9% | 9.4% | -0.5% | 2.7% | 3.5% | 2.2% | – |
| Finance costs | 818 | 1,020 | 734 | 824 | 817 | 757 | 931 | 944 | 733 | 720 | 620 | 590 | 627 | 537 | 693 | 603 | 340 | 335 | 244 | 159 | 259 | 225 | 132 | 272 | 334 | 351 | 267 | 300 | 221 | 0 |
| Depreciation | 1,878 | 2,457 | 1,674 | 1,612 | 1,604 | 1,623 | 1,518 | 1,530 | 1,484 | 1,632 | 1,345 | 1,247 | 1,371 | 1,238 | 1,123 | 1,094 | 1,106 | 1,079 | 1,035 | 960 | 927 | 965 | 894 | 883 | 883 | 834 | 881 | 825 | 829 | 0 |
| Profit before tax | −18,199 | 6,354 | 5,196 | 4,938 | 5,658 | 3,989 | 3,973 | 740 | 417 | 2,977 | 725 | 6,744 | 8,247 | 3,933 | 132 | −2,931 | −13,609 | 1,941 | 1,051 | 2,339 | 2,354 | 4,037 | 3,113 | 3,231 | 3,678 | −2,107 | 1,254 | 1,484 | 1,201 | 0 |
| Tax | −5,905 | 1,578 | 1,306 | 1,272 | 1,436 | 923 | 965 | 206 | 171 | 415 | 274 | 1,616 | 2,181 | 1,105 | −22.6 | −712 | −3,374 | 485 | 276 | 438 | 651 | 1,009 | 796 | 862 | 867 | −2,625 | 393 | 544 | 424 | 0 |
| Net profit | −12,265 | 6,065 | 4,011 | 3,859 | 4,111 | 3,415 | 2,544 | 143 | 634 | 2,709 | 713 | 5,827 | 6,766 | 3,608 | 444 | −2,476 | −8,557 | 2,018 | 1,353 | 1,919 | 2,004 | 3,061 | 2,374 | 2,976 | 2,253 | −27.6 | 1,027 | 762 | 877 | 0 |
| Net margin | -8.4% | 4.9% | 3.2% | 3.5% | 3.4% | 2.9% | 2.1% | 0.1% | 0.5% | 2.2% | 0.6% | 5.7% | 5.7% | 3.1% | 0.4% | -2.2% | -7.0% | 1.9% | 1.3% | 2.2% | 2.6% | 3.6% | 3.1% | 4.8% | 4.9% | -0.0% | 1.4% | 1.1% | 1.2% | – |
| EPS (₹) | -57.64 | 28.50 | 18.85 | 18.14 | 19.32 | 16.06 | 11.95 | 0.67 | 2.98 | 19.09 | 5.03 | 41.08 | 47.69 | 25.43 | 3.14 | -17.46 | -60.32 | 14.23 | 9.54 | 13.53 | 14.06 | 20.71 | 15.63 | 19.53 | 14.78 | 0.18 | 6.74 | 5.00 | 5.76 | 0.00 |
| Net profit YoY | −398.3% | +77.6% | +57.7% | +2605.1% | +548.5% | +26.1% | +256.8% | −97.6% | −90.6% | −24.9% | +60.5% | +335.4% | +179.1% | +78.8% | −67.2% | −229.0% | −527.0% | −34.1% | −43.0% | −35.5% | −11.0% | +11177.5% | +131.1% | +290.7% | +156.7% | – | – | – | – | – |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|---|---|
| Revenue from operations | 4,78,866 | 4,66,724 | 4,61,969 | 4,66,499 | 3,74,127 | 2,70,578 | 2,87,742 |
| Other income | 2,256 | 2,088 | 1,917 | 1,466 | 2,439 | 2,644 | 1,682 |
| Total expenses | 4,58,977 | 4,59,692 | 4,45,194 | 4,80,440 | 3,68,880 | 2,59,163 | 2,86,588 |
| EBITDA | 30,633 | 16,551 | 24,928 | −7,207 | 10,244 | 16,003 | 5,662 |
| EBITDA margin | 6.4% | 3.5% | 5.4% | -1.5% | 2.7% | 5.9% | 2.0% |
| Finance costs | 3,396 | 3,365 | 2,556 | 2,174 | 997 | 963 | 1,139 |
| Depreciation | 7,347 | 6,154 | 5,596 | 4,560 | 4,000 | 3,625 | 3,370 |
| Profit before tax | 22,146 | 9,119 | 18,692 | −12,475 | 7,686 | 14,058 | 1,832 |
| Tax | 5,591 | 2,264 | 4,486 | −3,004 | 1,849 | 3,534 | −1,264 |
| Net profit | 18,047 | 6,736 | 16,015 | −6,980 | 7,294 | 10,663 | 2,639 |
| Net margin | 3.8% | 1.4% | 3.5% | -1.5% | 1.9% | 3.9% | 0.9% |
| EPS (₹) | 84.81 | 31.66 | 112.89 | -49.21 | 51.36 | 70.57 | 17.32 |
| Net profit YoY | +167.9% | −57.9% | +329.4% | −195.7% | −31.6% | +304.1% | – |
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 | 36,111 | 14,228 | 23,852 | −3,466 | 15,810 |
| Investing cash flow | −11,404 | −10,557 | −13,019 | −11,384 | −13,745 |
| Financing cash flow | −22,770 | −4,138 | −16,155 | 16,025 | −2,066 |
| Capital expenditure | 8,331 | 9,579 | 10,071 | 9,447 | 12,345 |
| Free cash flow (CFO − capex) | 27,779 | 4,648 | 13,781 | −12,913 | 3,465 |
Net profit trend
annual, ₹ croreFY21
₹10,663
FY22
₹7,294−32%
FY23
₹−6,980−196%
FY24
₹16,015+329%
FY25
₹6,736−58%
FY26
₹18,047+168%
Result filings
as filed with NSE · PDF and XBRL| Period | Basis | Filed | Documents |
|---|---|---|---|
| Q1 FY27 | Consolidated | 22 Jul 2026 | PDF on NSE XBRL |
| Q1 FY27 | Standalone | 22 Jul 2026 | PDF on NSE XBRL |
| Q4 FY26 | Consolidated · audited | 13 May 2026 | PDF on NSE XBRL |
| Q4 FY26 | Standalone · audited | 13 May 2026 | PDF on NSE XBRL |
| Q3 FY26 | Consolidated | 21 Jan 2026 | PDF on NSE XBRL |
| Q3 FY26 | Standalone | 21 Jan 2026 | PDF on NSE XBRL |
| Q2 FY26 | Consolidated | 29 Oct 2025 | PDF on NSE XBRL |
| Q2 FY26 | Standalone | 29 Oct 2025 | PDF on NSE XBRL |
| Q1 FY26 | Consolidated | 7 Aug 2025 | PDF on NSE XBRL |
| Q1 FY26 | Standalone | 7 Aug 2025 | PDF on NSE XBRL |
Annual reports
NSE archiveKey ratios
P/E (TTM)5Y avg 6.5×44.7×
P/B5Y avg 1.33×1.14×
ROEFY26, on average equity30.9%
Net margin3.8%
Debt / equity0.78×
Revenue CAGR (3Y)0.9%
Profit CAGR (3Y)–
EPS (TTM)₹7.85
Market cap₹74,686 Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
1.14×
vs 8-point avg 1.33× (−15%)
0.80× low1.33× avg2.04× high
History points are balance-sheet dates (2022 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹2.03L Cr+4%
Net worth₹65,556 Cr+28%
Total borrowings₹50,899 Cr−23%
Cash & bank balances₹124 Cr−25%
Investments₹5,115 Cr+4%
Inventories₹39,559 Cr+3%
Trade receivables₹7,404 Cr−37%
Trade payables₹31,194 Cr+5%
Change vs the same date a year earlier.
Revenue mix FY26
Downstream Petroleum99.9%result ₹24,090 Cr
Others0.1%result ₹−316 Cr
Segment revenue as reported, before inter-segment eliminations.