Quarterly results
consolidated · as filed with NSE · Q1 FY27 back to Q1 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 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 2,81,933 | 2,36,899 | 2,36,257 | 2,06,447 | 2,21,849 | 2,21,360 | 2,19,522 | 1,98,616 | 2,19,864 | 2,23,650 | 2,26,892 | 2,05,283 | 2,25,410 | 2,30,712 | 2,32,303 | 2,33,014 | 2,09,049 | 1,99,375 | 1,71,787 | 1,56,519 | 1,65,607 | 1,47,810 | 1,16,713 | 90,106 | 1,42,372 | 1,46,952 | 1,34,769 | 1,52,496 | 1,47,135 | 1,63,325 | 1,54,969 | 1,51,814 |
| Other income | 446 | 1,775 | 1,160 | 644 | 583 | 1,238 | 1,022 | 723 | 533 | 1,454 | 1,268 | 506 | 615 | 1,215 | 1,573 | 787 | 581 | 1,143 | 859 | 499 | 713 | 959 | 1,158 | 670 | 1,248 | 479 | 449 | 614 | 1,099 | 334 | 718 | 563 |
| Total expenses | 2,84,009 | 2,19,533 | 2,20,057 | 1,96,699 | 2,14,830 | 2,12,834 | 2,18,692 | 2,01,760 | 2,16,127 | 2,17,920 | 2,16,803 | 1,87,699 | 2,06,914 | 2,18,258 | 2,33,572 | 2,34,574 | 1,99,875 | 1,92,833 | 1,64,717 | 1,49,335 | 1,55,419 | 1,41,473 | 1,09,498 | 87,793 | 1,50,168 | 1,43,674 | 1,34,822 | 1,47,953 | 1,39,486 | 1,62,905 | 1,51,158 | 1,41,866 |
| EBITDA | 4,062 | 24,804 | 22,745 | 16,245 | 13,267 | 15,029 | 7,573 | 3,467 | 9,920 | 11,970 | 16,576 | 23,328 | 23,716 | 17,699 | 4,304 | 3,277 | 14,273 | 10,774 | 11,197 | 11,499 | 14,340 | 9,794 | 10,192 | 6,258 | −3,111 | 7,184 | 3,760 | 8,574 | 11,368 | 3,555 | 7,236 | 13,062 |
| EBITDA margin | 1.4% | 10.5% | 9.6% | 7.9% | 6.0% | 6.8% | 3.4% | 1.7% | 4.5% | 5.4% | 7.3% | 11.4% | 10.5% | 7.7% | 1.9% | 1.4% | 6.8% | 5.4% | 6.5% | 7.3% | 8.7% | 6.6% | 8.7% | 6.9% | -2.2% | 4.9% | 2.8% | 5.6% | 7.7% | 2.2% | 4.7% | 8.6% |
| Finance costs | 1,730 | 1,880 | 2,088 | 2,270 | 2,070 | 2,178 | 2,458 | 2,546 | 2,080 | 2,147 | 1,800 | 2,135 | 1,743 | 1,957 | 2,122 | 1,554 | 1,806 | 1,119 | 1,114 | 1,383 | 1,203 | 734 | 320 | 1,332 | 2,032 | 1,444 | 1,453 | 1,650 | 1,386 | 998 | 1,351 | 1,153 |
| Depreciation | 4,408 | 5,557 | 4,457 | 4,227 | 4,179 | 4,325 | 4,284 | 4,065 | 4,103 | 4,094 | 4,686 | 3,610 | 3,477 | 3,288 | 3,451 | 3,283 | 3,292 | 3,112 | 3,012 | 2,931 | 2,949 | 2,723 | 2,656 | 2,613 | 2,653 | 2,462 | 2,360 | 2,381 | 2,333 | 2,137 | 2,074 | 1,961 |
| Profit before tax | −1,630 | 19,142 | 17,360 | 10,392 | 7,602 | 9,765 | 2,532 | −1,264 | 4,270 | 7,183 | 11,358 | 18,090 | 19,111 | 13,669 | 304 | −773 | 9,755 | 7,686 | 7,929 | 7,683 | 10,901 | 7,296 | 8,373 | 2,983 | −17,852 | 3,757 | 396 | 5,157 | 8,748 | 754 | 4,529 | 10,511 |
| Tax | 209 | 4,615 | 4,325 | 2,913 | 1,942 | 1,677 | 619 | −140 | 1,118 | 1,932 | 2,780 | 4,700 | 4,715 | 2,917 | −428 | 384 | 2,802 | 1,755 | 2,116 | 1,890 | 2,324 | 3,469 | 2,341 | 854 | −8,751 | 1,280 | 312 | 1,859 | 3,016 | 439 | 1,578 | 3,619 |
| Net profit | −1,141 | 15,176 | 13,502 | 8,191 | 6,808 | 8,368 | 2,147 | −449 | 3,723 | 5,488 | 9,225 | 13,713 | 14,735 | 10,841 | 890 | −910 | 7,089 | 6,261 | 6,235 | 6,141 | 9,145 | 4,102 | 6,165 | 2,350 | −8,566 | 2,695 | 371 | 3,623 | 6,004 | 768 | 3,327 | 7,176 |
| Net margin | -0.4% | 6.4% | 5.7% | 4.0% | 3.1% | 3.8% | 1.0% | -0.2% | 1.7% | 2.5% | 4.1% | 6.7% | 6.5% | 4.7% | 0.4% | -0.4% | 3.4% | 3.1% | 3.6% | 3.9% | 5.5% | 2.8% | 5.3% | 2.6% | -6.0% | 1.8% | 0.3% | 2.4% | 4.1% | 0.5% | 2.1% | 4.7% |
| EPS (₹) | -1.18 | 10.50 | 9.44 | 5.68 | 4.95 | 5.90 | 1.54 | -0.12 | 2.56 | 3.74 | 6.56 | 9.53 | 10.48 | 7.47 | 0.56 | -0.72 | 7.24 | 6.69 | 6.76 | 6.65 | 9.83 | 4.75 | 6.56 | 2.43 | -8.48 | 2.92 | 0.51 | 4.07 | 6.36 | 1.02 | 3.50 | 7.48 |
| Net profit YoY | −116.8% | +81.4% | +528.8% | +1925.1% | +82.9% | +52.5% | −76.7% | −103.3% | −74.7% | −49.4% | +936.2% | +1606.6% | – | +52.9% | −85.8% | −114.6% | −22.5% | +52.6% | +1.1% | +161.3% | +206.8% | +52.2% | +1561.6% | −35.1% | −242.7% | +250.9% | −88.8% | −49.5% | – | – | – | – |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 9,01,453 | 8,59,363 | 8,81,235 | 9,51,410 | 7,36,731 | 5,20,237 | 5,76,589 | 6,17,243 |
| Other income | 4,163 | 3,514 | 3,843 | 4,199 | 3,082 | 3,500 | 2,790 | 2,714 |
| Total expenses | 8,51,119 | 8,49,411 | 8,29,336 | 9,41,433 | 7,06,760 | 4,94,182 | 5,76,618 | 5,95,414 |
| EBITDA | 77,062 | 35,991 | 75,591 | 30,699 | 47,742 | 40,585 | 16,405 | 35,224 |
| EBITDA margin | 8.5% | 4.2% | 8.6% | 3.2% | 6.5% | 7.8% | 2.8% | 5.7% |
| Finance costs | 8,308 | 9,262 | 7,826 | 7,541 | 5,423 | 3,589 | 6,579 | 4,888 |
| Depreciation | 18,420 | 16,777 | 15,866 | 13,181 | 12,348 | 10,941 | 9,855 | 8,507 |
| Profit before tax | 54,497 | 15,303 | 55,742 | 14,176 | 33,053 | 29,554 | −8,543 | 24,543 |
| Tax | 13,795 | 3,275 | 14,127 | 3,333 | 8,562 | 8,989 | −5,300 | 8,653 |
| Net profit | 43,677 | 13,789 | 43,161 | 11,704 | 25,727 | 21,762 | −1,877 | 17,274 |
| Net margin | 4.8% | 1.6% | 4.9% | 1.2% | 3.5% | 4.2% | -0.3% | 2.8% |
| EPS (₹) | 30.57 | 9.87 | 30.30 | 7.11 | 27.34 | 23.57 | -0.97 | 18.41 |
| Net profit YoY | +216.8% | −68.1% | +268.8% | −54.5% | +18.2% | +1259.4% | −110.9% | – |
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 | 76,142 | 34,699 | 71,099 | 29,644 | 24,570 |
| Investing cash flow | −22,274 | −31,848 | −31,464 | −28,030 | −21,178 |
| Financing cash flow | −52,672 | −3,425 | −39,385 | −1,794 | −2,997 |
| Capital expenditure | 28,363 | 34,850 | 37,175 | 32,600 | 22,804 |
| Free cash flow (CFO − capex) | 47,779 | −151 | 33,923 | −2,956 | 1,767 |
Net profit trend
annual, ₹ croreFY21
₹21,762
FY22
₹25,727+18%
FY23
₹11,704−55%
FY24
₹43,161+269%
FY25
₹13,789−68%
FY26
₹43,677+217%
Result filings
as filed with NSE · PDF and XBRL| Period | Basis | Filed | Documents |
|---|---|---|---|
| Q1 FY27 | Consolidated | 31 Jul 2026 | PDF on NSE XBRL |
| Q1 FY27 | Standalone | 31 Jul 2026 | PDF on NSE XBRL |
| Q4 FY26 | Consolidated · audited | – | PDF on NSE XBRL |
| Q4 FY26 | Consolidated · audited | 18 May 2026 | PDF on NSE XBRL |
| Q4 FY26 | Standalone · audited | 18 May 2026 | PDF on NSE XBRL |
| Q4 FY26 | Standalone · audited | – | PDF on NSE XBRL |
| Q3 FY26 | Consolidated | 5 Feb 2026 | PDF on NSE XBRL |
| Q3 FY26 | Standalone | 5 Feb 2026 | PDF on NSE XBRL |
| Q2 FY26 | Consolidated | 27 Oct 2025 | PDF on NSE XBRL |
| Q2 FY26 | Standalone | 27 Oct 2025 | PDF on NSE XBRL |
Annual reports
NSE archiveKey ratios
P/E (TTM)5Y avg 8.1×5.4×
P/B5Y avg 0.99×0.87×
ROEFY26, on average equity21.5%
Net margin4.8%
Debt / equity0.60×
Revenue CAGR (3Y)-1.8%
Profit CAGR (3Y)55.1%
EPS (TTM)₹25.30
Market cap₹1.92L Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
0.87×
vs 8-point avg 0.99× (−12%)
0.74× low0.99× avg1.40× high
History points are balance-sheet dates (2022 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹5.29L Cr+4%
Net worth₹2.2L Cr+18%
Total borrowings₹1.32L Cr−13%
Cash & bank balances₹1,833 Cr+172%
Investments₹48,288 Cr+5%
Inventories₹1.17L Cr+3%
Trade receivables₹14,635 Cr−21%
Trade payables₹57,369 Cr−5%
Change vs the same date a year earlier.
Revenue mix FY26
Petroleum Products91.5%result ₹61,227 Cr
Gas4.8%result ₹−255 Cr
Petrochemicals3.1%result ₹1,015 Cr
Other Business Activities0.6%result ₹456 Cr
Segment revenue as reported, before inter-segment eliminations.