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Quarterly results

consolidated · as filed with NSE · Q1 FY27 back to Q3 FY18

₹ crore	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	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	Q2 FY19	Q1 FY19	Q4 FY18	Q3 FY18
Revenue from operations	425	628	515	543	498	1,035	1,016	520	601	259	246	157	775	256	198	166	1,142	137	352	229	1,266	497	434	165	650	828	420	284	189	790	563
Other income	8.4	13.2	12.3	14.8	13	20.2	14.7	15	9.3	12.6	9.6	13	9.9	10.2	10.5	22	226	6.7	10.3	12	64.7	10.2	77.7	8.8	12.4	151	10.8	125	125	90.3	72.6
Total expenses	466	725	548	611	571	1,122	1,100	600	849	373	382	273	858	354	308	288	1,010	237	419	329	1,130	539	568	276	626	811	423	401	311	772	622
EBITDA	1.8	−111	25.3	−1.2	−7.3	−10.5	−8.6	−12.6	−174	−43.5	−52.8	−48.9	−6.2	−34.7	−48.8	−63.9	197	−37.7	−6.6	−44.2	179	9.4	−77.5	−59.9	69.5	64.7	43.2	−77	−86.4	66.9	−19.3
EBITDA margin	0.4%	-17.7%	4.9%	-0.2%	-1.5%	-1.0%	-0.8%	-2.4%	-28.9%	-16.8%	-21.4%	-31.2%	-0.8%	-13.5%	-24.7%	-38.4%	17.3%	-27.5%	-1.9%	-19.3%	14.2%	1.9%	-17.9%	-36.3%	10.7%	7.8%	10.3%	-27.1%	-45.8%	8.5%	-3.4%
Finance costs	30	80.8	47.6	53	50.9	64.1	61.6	53.2	60.2	57.2	69.3	54.6	63.2	50.7	50.1	45.6	52.4	49.7	45	45.1	33.6	40.5	44.7	40.7	35.9	35.8	36.8	31.9	29.2	39.5	30.8
Depreciation	12.5	−95	11	13.1	14.6	12.7	13.7	13.9	14.2	13.6	13.3	12	13.4	12.2	11.9	12	13	11.9	14.5	10.6	9	10.8	11.5	10.5	9.5	11.6	10	8.2	7.1	9.9	8.8
Profit before tax	−32.5	375	−25.6	−54.2	−63.3	−67.1	−70.1	−91.1	−239	−102	−126	−103	−72.9	−87.4	−100	−99.5	357	−92.6	−55.8	−87.9	201	−31.8	−56	−102	36.5	168	7.2	7.6	2.7	108	13.6
Tax	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net profit	−32.3	375	−25.3	−54.4	−63.6	−48.9	−70.3	−91.3	−239	−101	−126	−103	−72	−87.6	−101	−99.7	356	−92.6	−55.8	−88	200	−31.8	−56	−102	36.5	168	7.2	7.6	2.7	108	13.6
Net margin	-7.6%	59.8%	-4.9%	-10.0%	-12.8%	-4.7%	-6.9%	-17.6%	-39.7%	-39.1%	-51.1%	-65.5%	-9.3%	-34.2%	-50.9%	-60.0%	31.2%	-67.4%	-15.8%	-38.3%	15.8%	-6.4%	-12.9%	-62.0%	5.6%	20.3%	1.7%	2.7%	1.4%	13.7%	2.4%
EPS (₹)	-0.33	3.90	-0.26	0.00	-0.66	-0.51	-0.73	-0.95	-2.49	-1.05	-1.32	-1.08	-0.77	-0.93	-1.07	-1.06	3.81	-0.99	-0.60	-0.94	2.16	-0.34	-0.61	-1.11	0.29	1.79	0.12	0.28	-0.05	1.00	0.21
Net profit YoY	+49.3%	–	+48.2%	+22.7%	+30.3%	+51.7%	+44.2%	+11.2%	−231.7%	−15.6%	−25.3%	−3.1%	−120.2%	+5.4%	−80.2%	−13.4%	+78.3%	−191.6%	+0.4%	+14.0%	+447.6%	−118.9%	−879.4%	–	–	–	−4.9%	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY24	FY23	FY22	FY21	FY20	FY18
Revenue from operations	2,184	1,264	1,395	1,861	2,362	2,059	1,475
Other income	53.4	44.5	52.5	255	161	184	327
Total expenses	2,393	1,877	1,808	1,994	2,512	2,092	1,572
EBITDA	43.6	−319	−154	109	51.3	150	81.4
EBITDA margin	2.0%	-25.2%	-11.0%	5.8%	2.2%	7.3%	5.5%
Finance costs	197	241	210	192	160	141	153
Depreciation	56.5	53.1	49.5	50	41.8	41.9	24.9
Profit before tax	293	−569	−360	121	11.2	151	231
Tax	0	0	0	0	0	0	0
Net profit	293	−569	−360	120	9.5	151	231
Net margin	13.4%	-45.0%	-25.8%	6.4%	0.4%	7.3%	15.6%
EPS (₹)	3.04	-5.93	-3.81	1.28	0.10	1.59	3.18
Net profit YoY	–	−58.1%	−400.6%	+1162.9%	−93.7%	–	–

EPS is as filed for each period and is not restated for later bonus issues or splits.

Cash flow

annual · ₹ crore

₹ crore	FY26	FY24	FY23	FY22
Operating cash flow	−135	974	−294	−432
Investing cash flow	924	−556	46.2	178
Financing cash flow	−913	−322	241	241
Capital expenditure	4.3	0	0	60.2
Free cash flow (CFO − capex)	−140	974	−294	−492

Net profit trend

annual, ₹ crore

FY20

₹151

FY21

₹9.5−94%

FY22

₹120+1163%

FY23

₹−360−401%

FY24

₹−569−58%

FY26

₹293+151%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	13 Aug 2026	PDF on NSE XBRL
Q1 FY27	Standalone	13 Aug 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	29 May 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	–	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	–	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	–	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	–	PDF on NSE XBRL
Q4 FY26	Standalone · audited	29 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	–	PDF on NSE XBRL
Q4 FY26	Standalone · audited	–	PDF on NSE XBRL

Annual reports

NSE archive

FY256.34 MB FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17 FY16

Key ratios

P/E (TTM)–

P/B–

ROEFY26, on average equity15.9%

Net margin13.4%

Debt / equity0.40×

Revenue CAGR (3Y)5.5%

Profit CAGR (3Y)34.7%

EPS (TTM)₹2.73

Market cap–

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

Balance sheet 31 Mar 2026

Total assets₹9,347 Cr−3%

Net worth₹1,906 Cr+7%

Total borrowings₹765 Cr−57%

Cash & bank balances₹24 Cr−77%

Investments₹54 Cr+52%

Inventories₹206 Cr−7%

Trade receivables₹2,906 Cr+19%

Trade payables₹2,891 Cr+86%

Change vs the same date a year earlier.

Shareholding 30 Jun 2026

%	Jun 26	Mar 26	Dec 25	Sept 25	Jun 25	May 25	Mar 25	Dec 24	Sept 24	Jun 24	Mar 24	Dec 23
Promoter	90.02	90.02	90.02	90.02	90.02	90.02	90.00	90.00	90.00	90.00	90.00	90.28
FII	0.08	0.01	0.00	0.01	0.01	0.01	0.00	0.07	0.04	0.06	0.11	0.10
DII	0.07	0.07	0.06	0.05	0.05	0.05	0.05	0.04	0.04	0.03	0.03	0.02
of which MF	0.06	0.06	0.05	0.05	0.04	–	–	–	–	–	–	–
Retail	1.78	1.90	1.87	1.89	1.95	1.96	1.97	1.80	1.94	1.91	1.85	1.87
Other public	8.05	8.00	8.05	8.03	7.97	7.96	7.98	8.09	7.98	8.00	8.01	7.73

1,51,049 shareholders · NSE shareholding pattern filings.