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Quarterly results

standalone · as filed with NSE · Q1 FY27 back to Q4 FY17

₹ 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 FY17
Revenue from operations	228	239	196	183	164	206	177	146	82.2	175	139	95.8	93.2	145	83.6	88.5	54.1	99.3	81.8	76.3	22.7	96.8	53.8	38.9	16.4	36.6	67.4	60.8	40.6	67.7	48.2	49.9	47.6	69.6
Other income	4.8	1.3	2.3	4.2	2.6	5.4	6.3	3.1	1.7	2.5	0.7	2.4	0.8	0.7	0.4	0.8	0.7	0.6	0.2	0.2	0.6	2.2	0.2	0.2	0.3	2.1	1.3	1.2	0.9	0.5	0.2	0.3	0.2	1.5
Total expenses	198	208	165	154	142	187	155	125	75.5	151	126	87.1	89	126	80.2	88	53.6	93.6	75.6	71.4	28.7	85.3	53.1	42.4	21.8	39.7	67.7	61	42.3	68.1	51.8	51.3	51.8	70.7
EBITDA	31.8	32.4	33	31	24	20.7	24.3	23	8.2	27	15.3	11.2	6.1	21.7	5.1	1.8	1.9	7.6	7.8	6.3	−4.9	12.8	2	−2.2	−4.1	−1.8	1	1	−0.5	1.4	−2.1	−0.3	−3	0.1
EBITDA margin	13.9%	13.5%	16.8%	16.9%	14.6%	10.0%	13.7%	15.7%	10.0%	15.4%	10.9%	11.7%	6.5%	15.0%	6.1%	2.1%	3.6%	7.7%	9.6%	8.2%	-21.5%	13.2%	3.6%	-5.6%	-25.2%	-5.0%	1.5%	1.7%	-1.3%	2.1%	-4.4%	-0.5%	-6.3%	0.2%
Finance costs	0.5	0.5	0.6	0.6	0.5	0.6	0.6	0.5	0.5	1.2	0.6	1.3	0.7	1.2	0.7	0.4	0.5	0.8	0.4	0.3	0.1	0	−0	0.1	0.1	0.1	0.1	0	0	0	0.4	0	0	0
Depreciation	1.7	1.3	1.2	1.2	1.1	1.1	1.1	1.1	1.1	1.3	1.3	1.2	1.1	2	1	0.9	0.9	1.1	1.2	1.1	1.1	1.2	1.2	1.3	1.2	1.2	1.2	1.2	1.2	1.8	1.1	1.1	1.1	1.2
Profit before tax	34.4	31.9	33.5	33.3	25	24.3	28.9	24.5	8.3	27.1	14.1	11.1	5.1	19.3	3.8	1.3	1.2	6.4	6.5	5.1	−5.5	13.7	1	−3.3	−5.1	−1	1	1	−0.9	0.1	−3.4	−1.1	−3.9	0.5
Tax	8.7	8	8.6	8.5	5.8	3.3	9.6	6.8	2.4	1.5	3.4	4	1.5	0	0	0	0	0.3	0	0	0	0.1	0	0	0	0	0	−1.8	0	0	0	0	0	0
Net profit	25.7	23.9	24.9	24.8	19.2	21	19.3	17.7	5.9	25.6	10.7	7.1	3.5	19.3	3.8	1.3	1.2	6.1	6.5	5.1	−5.5	13.7	1	−3.3	−5.1	−1	1	2.8	−0.9	0.1	−3.4	−1.1	−3.9	0.5
Net margin	11.3%	10.0%	12.7%	13.6%	11.7%	10.2%	10.9%	12.1%	7.2%	14.6%	7.7%	7.4%	3.8%	13.3%	4.6%	1.5%	2.3%	6.1%	7.9%	6.7%	-24.2%	14.1%	1.8%	-8.4%	-30.9%	-2.8%	1.5%	4.6%	-2.1%	0.1%	-7.1%	-2.3%	-8.3%	0.6%
EPS (₹)	24.20	22.53	23.45	23.33	18.05	19.75	18.15	16.69	5.56	24.08	10.06	6.66	3.33	18.17	3.62	1.25	1.16	5.71	6.12	4.80	-5.15	12.87	0.90	-3.07	-4.77	-0.97	0.97	2.62	-0.81	0.09	-3.22	1.06	-3.72	0.42
Net profit YoY	+34.1%	+14.0%	+29.2%	+39.8%	+224.4%	−18.0%	+80.4%	+150.6%	+66.9%	+32.5%	+178.1%	+431.6%	+187.8%	+218.5%	−40.9%	−73.9%	+122.5%	−55.6%	+577.1%	+256.4%	−7.9%	+1426.2%	−6.8%	−217.3%	−489.5%	−1130.0%	+130.1%	+346.0%	+78.2%	–	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY17
Revenue from operations	782	612	504	371	280	206	205	213	63.4
Other income	10.4	16.4	6.3	2.7	1.7	2.9	5.4	1.2	0.4
Total expenses	669	542	453	348	269	203	211	223	61.5
EBITDA	120	76.1	59.6	30.6	16.9	8.4	−0.3	−3.9	3.2
EBITDA margin	15.4%	12.4%	11.8%	8.2%	6.0%	4.1%	-0.2%	-1.8%	5.0%
Finance costs	2.2	2.1	3.7	2.7	1.6	0.2	0.2	0.5	0.2
Depreciation	4.8	4.5	4.9	4.8	4.5	4.8	4.8	5.2	1.1
Profit before tax	124	86	57.3	25.7	12.5	6.4	0.1	−8.4	2.3
Tax	30.9	22.1	10.4	0	0.3	0.1	−1.8	0	0.1
Net profit	92.8	63.9	46.9	25.7	12.2	6.3	1.9	−8.4	2.2
Net margin	11.9%	10.4%	9.3%	6.9%	4.4%	3.1%	0.9%	-3.9%	3.5%
EPS (₹)	87.26	60.15	44.12	24.20	11.48	5.92	1.81	-7.90	2.09
Net profit YoY	+45.2%	+36.3%	+82.3%	+110.8%	+93.8%	+227.6%	+122.9%	–	–

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	56.9	55.8	31.8	−3.9	21.7
Investing cash flow	−53.2	−18.2	−11.6	−14.8	−8.7
Financing cash flow	−5.1	1.4	−8.1	9.4	−0.1
Capital expenditure	34.1	16.1	8.1	7.6	3.3
Free cash flow (CFO − capex)	22.8	39.6	23.7	−11.6	18.4

Net profit trend

annual, ₹ crore

FY21

₹6.3

FY22

₹12.2+94%

FY23

₹25.7+111%

FY24

₹46.9+82%

FY25

₹63.9+36%

FY26

₹92.8+45%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Standalone	11 Aug 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	20 May 2026	PDF on NSE XBRL
Q3 FY26	Standalone	4 Feb 2026	PDF on NSE XBRL
Q2 FY26	Standalone	–	PDF on NSE XBRL
Q2 FY26	Standalone	–	PDF on NSE XBRL
Q2 FY26	Standalone	14 Nov 2025	PDF on NSE XBRL
Q1 FY26	Standalone	–	PDF on NSE XBRL
Q1 FY26	Standalone	–	PDF XBRL
Q1 FY26	Standalone	13 Aug 2025	PDF XBRL
Q4 FY25	Standalone · audited	20 May 2025	PDF on NSE XBRL

Annual reports

NSE archive

FY265.79 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 19.9×34.0×

P/B5Y avg 4.37×9.03×

ROEFY26, on average equity28.4%

Net margin11.9%

Debt / equity0.01×

Revenue CAGR (3Y)28.2%

Profit CAGR (3Y)53.4%

EPS (TTM)₹93.50

Market cap₹3,375 Cr

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

P/B vs history

9.03×

vs 8-point avg 4.37× (+106%)

1.07× low4.37× avg9.03× high

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

Balance sheet 31 Mar 2026

Total assets₹555 Cr+27%

Net worth₹374 Cr+33%

Total borrowings₹5 Cr−36%

Cash & bank balances₹63 Cr−2%

Investments₹0 Cr

Inventories₹197 Cr+46%

Trade receivables₹121 Cr−1%

Trade payables₹58 Cr−6%

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	72.18	75.00	75.00	75.00	75.00	75.00	75.00	75.00	75.00	75.00	75.00	75.00
FII	0.28	0.27	0.19	0.17	0.15	0.25	0.48	0.40	0.42	0.02	0.00	0.00
DII	0.05	0.00	0.66	0.60	0.41	0.66	0.66	0.00	0.01	0.00	0.00	0.00
Retail	19.29	20.18	19.98	20.00	20.30	19.68	19.39	20.32	20.19	20.07	20.05	19.84
Other public	8.20	4.55	4.17	4.23	4.14	4.41	4.47	4.28	4.38	4.91	4.95	5.16

24,680 shareholders · NSE shareholding pattern filings.