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Quarterly results

standalone · 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	304	301	290	280	223	277	270	279	281	299	301	297	313	344	351	341	274	252	230	201	148	169	119	68.7	47.6	178	187	190
Other income	2.9	1.2	1.6	2.2	1.4	1.4	2.1	1.7	0.9	3.1	0.7	1.7	0.8	0.1	1.2	1	1.3	0.7	0.8	0.9	1.5	1	2.1	6.4	0.6	3.9	1.5	1.1
Total expenses	296	283	278	274	208	243	244	241	231	256	246	242	226	257	274	273	243	248	228	190	161	155	122	86.1	73.8	169	178	177
EBITDA	40.1	47.8	39.3	34.3	40.4	59.9	50.4	60.8	71.6	63.6	79.4	79.9	109	114	105	99.3	60.8	33.1	30.5	39.9	15.5	27.9	12.8	−1.1	−10.2	24.8	24.3	30.5
EBITDA margin	13.2%	15.9%	13.6%	12.3%	18.1%	21.6%	18.7%	21.8%	25.5%	21.3%	26.3%	26.9%	35.0%	33.2%	30.0%	29.1%	22.2%	13.1%	13.3%	19.9%	10.5%	16.5%	10.8%	-1.7%	-21.5%	13.9%	13.0%	16.0%
Finance costs	14.5	13.2	10.9	11.9	10.4	10.4	10.5	9.4	9	8	11.3	12.3	11.3	15.9	17.5	19.6	18	17.6	17.7	16.8	17	4.3	8	7.8	7.6	7.1	7.1	8.8
Depreciation	17.7	17.2	16.6	16.3	15.2	14.7	13.8	13	12.5	12.3	12.3	11.9	11.7	11.5	11.4	11.3	11.3	11.2	11.1	11.7	12.1	9.6	8.4	8.4	8.4	8.4	8	7.8
Profit before tax	10.8	18.6	13.3	8.4	16.2	36.2	28.2	40.1	51	46.4	56.5	57.4	87.3	86.8	77.3	69.5	−30.6	5	2.5	12.3	−12.1	6.4	−1.6	−11	−25.6	13.3	10.7	15
Tax	4.5	4.3	3.6	2.6	4.2	10.1	7.2	10.2	12.8	12.5	14.3	14.8	22.1	21.7	20	16.8	8.2	0.7	−1.6	1.8	−6.6	−4	−0.4	−5.4	−9.3	0.1	−10.2	−4.4
Net profit	6.2	14.3	9.8	5.8	12.1	26.1	21	29.9	38.2	33.9	42.2	42.7	65.1	65.1	57.3	52.7	−38.9	4.3	4	10.5	−5.4	10.4	−1.2	−5.7	−16.3	13.1	20.9	19.4
Net margin	2.1%	4.8%	3.4%	2.1%	5.4%	9.4%	7.8%	10.7%	13.6%	11.3%	14.0%	14.3%	20.8%	18.9%	16.3%	15.4%	-14.2%	1.7%	1.8%	5.2%	-3.7%	6.2%	-1.0%	-8.3%	-34.2%	7.4%	11.2%	10.2%
EPS (₹)	0.71	1.64	1.12	0.66	1.38	2.99	2.40	3.43	4.38	3.88	4.83	4.89	7.46	7.45	6.56	6.04	-4.45	0.50	0.46	1.20	-0.62	1.19	-0.14	-0.65	-18.63	15.06	23.97	22.19
Net profit YoY	−48.3%	−45.1%	−53.4%	−80.7%	−68.4%	−22.9%	−50.2%	−29.9%	−41.4%	−47.9%	−26.4%	−19.0%	+267.7%	+1405.0%	+1319.3%	+400.9%	−612.9%	−58.5%	+432.3%	+285.2%	+66.5%	−20.7%	−105.8%	−129.3%	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20
Revenue from operations	1,093	1,107	1,211	1,310	830	404	745
Other income	6.4	6.1	5.6	3.6	3.9	10	8.8
Total expenses	1,043	958	969	1,047	827	437	688
EBITDA	162	243	333	379	119	29.3	119
EBITDA margin	14.8%	21.9%	27.5%	29.0%	14.3%	7.3%	15.9%
Finance costs	46.4	39.3	42.8	71	68.9	27.7	30.4
Depreciation	65.3	54	48.2	45.4	46.2	34.8	31.7
Profit before tax	56.6	155	248	203	7.7	−31.8	65.2
Tax	14.6	40.2	63.8	66.8	−5.7	−19.1	−6.6
Net profit	42	115	184	136	13.4	−12.7	71.8
Net margin	3.8%	10.4%	15.2%	10.4%	1.6%	-3.2%	9.6%
EPS (₹)	4.81	13.20	21.07	15.60	1.54	-1.46	82.29
Net profit YoY	−63.6%	−37.3%	+35.0%	+914.3%	+205.5%	−117.7%	–

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	219	177	298	375	48.3
Investing cash flow	−321	−315	−156	−59.7	−34.6
Financing cash flow	134	76.3	−72.6	−318	−10.6
Capital expenditure	327	313	176	65.4	42.8
Free cash flow (CFO − capex)	−108	−136	122	310	5.5

Net profit trend

annual, ₹ crore

FY21

₹−12.7

FY22

₹13.4+205%

FY23

₹136+914%

FY24

₹184+35%

FY25

₹115−37%

FY26

₹42−64%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Standalone	12 Aug 2026	PDF XBRL
Q4 FY26	Standalone · audited	26 May 2026	PDF on NSE XBRL
Q3 FY26	Standalone	7 Feb 2026	PDF on NSE XBRL
Q2 FY26	Standalone	7 Nov 2025	PDF XBRL
Q1 FY26	Standalone	8 Aug 2025	PDF XBRL
Q4 FY25	Standalone · audited	20 May 2025	PDF on NSE XBRL
Q3 FY25	Standalone	11 Feb 2025	PDF on NSE XBRL
Q2 FY25	Standalone	12 Nov 2024	PDF on NSE XBRL
Q1 FY25	Standalone	3 Aug 2024	PDF on NSE XBRL
Q4 FY24	Standalone · audited	29 May 2024	PDF on NSE XBRL

Annual reports

NSE archive

FY2611.60 MB FY25 FY24 FY23 FY22 FY21 FY20

Key ratios

P/E (TTM)5Y avg 9.1×19.2×

P/B5Y avg 1.00×0.57×

ROEFY26, on average equity3.4%

Net margin3.8%

Debt / equity0.70×

Revenue CAGR (3Y)-5.8%

Profit CAGR (3Y)-32.5%

EPS (TTM)₹4.14

Market cap₹695 Cr

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

P/B vs history

0.57×

vs 8-point avg 1.00× (−43%)

0.47× low1.00× avg1.47× high

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

Balance sheet 31 Mar 2026

Total assets₹2,399 Cr+14%

Net worth₹1,228 Cr+1%

Total borrowings₹860 Cr+32%

Cash & bank balances₹41 Cr+343%

Investments₹1 Cr

Inventories₹131 Cr+4%

Trade receivables₹44 Cr+13%

Trade payables₹64 Cr+53%

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	70.30	70.30	70.30	70.30	70.30	70.30	70.30	70.30	70.30	70.30	70.30	70.30
FII	0.04	0.05	0.02	0.00	0.00	0.09	0.15	0.08	0.14	0.17	0.53	1.03
DII	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.02
Retail	23.09	21.77	21.62	21.32	20.91	20.72	20.74	19.54	19.12	19.07	18.38	17.32
Other public	6.56	7.87	8.05	8.37	8.78	8.88	8.80	10.07	10.43	10.45	10.78	11.33

21,742 shareholders · NSE shareholding pattern filings.