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Quarterly results

consolidated · as filed with NSE · Q1 FY27 back to Q4 FY18

₹ 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	Q4 FY19	Q4 FY18
Revenue from operations	609	873	673	779	604	818	553	677	535	708	447	639	521	715	459	636	569	587	664	627	417	596	392	385	246	288	305	352	0	355
Other income	7.5	11.3	6.5	5.2	9.1	1.6	4.2	13.9	10.2	8.6	3.3	4.3	4.8	9.9	3.5	2.6	3	6.1	3.7	3.7	3.6	5.2	1.1	2.3	1.6	0.1	1	2.4	0	1.6
Total expenses	586	828	654	753	583	754	514	624	501	640	424	596	504	684	439	582	504	492	531	497	337	480	318	319	207	247	258	307	0	307
EBITDA	42.8	64.2	35.9	43.9	35.3	76.6	49.8	64.6	44.7	75.6	34.3	55	28.4	42.2	32.5	64.7	74.8	107	142	137	87.3	124	79.1	71.9	45.5	47.6	53.8	51.9	0	57.9
EBITDA margin	7.0%	7.4%	5.3%	5.6%	5.8%	9.4%	9.0%	9.5%	8.4%	10.7%	7.7%	8.6%	5.5%	5.9%	7.1%	10.2%	13.2%	18.2%	21.3%	21.9%	20.9%	20.8%	20.2%	18.7%	18.5%	16.5%	17.6%	14.7%	–	16.3%
Finance costs	11.6	11	9.8	10.3	6.7	6.1	5.3	5.2	4.4	4.2	5.1	5.4	5.8	5.8	7.2	6.2	5.2	7	3.7	2.7	2.6	2.4	1.8	2.3	2.8	3.3	3.9	3.2	0	7.2
Depreciation	8.4	7.9	7.6	7.4	7.2	6.5	6.3	5.7	5.6	3.6	6	5.9	6.1	5.4	4.8	4.9	4.8	4.9	4.8	4.3	4.3	5	3.6	3.5	3.6	3.5	3.3	3.1	0	2.7
Profit before tax	30.3	56.7	18.9	31.5	30.5	65.5	42.6	67.6	44.9	76.4	26.5	48	21.4	40.9	24	56.2	67.8	101	137	134	84	122	74.8	68.4	40.7	40.9	45.5	48	0	49.5
Tax	7.2	9.4	6.4	8.4	7.2	17.5	11.1	16	11.5	21.3	7	12.1	6.3	11.1	7.4	15.1	17.8	28.1	35.6	33.9	20.3	31	19.7	17.7	9.9	11.1	12.2	7.4	0	17.7
Net profit	23.1	47.3	12.5	23.1	23.3	48	31.5	51.6	33.4	55.1	19.5	35.9	15.1	29.8	16.6	41.1	50	73.1	101	100	63.7	90.6	55.1	50.7	30.8	29.8	33.3	40.6	0	31.8
Net margin	3.8%	5.4%	1.9%	3.0%	3.8%	5.9%	5.7%	7.6%	6.2%	7.8%	4.4%	5.6%	2.9%	4.2%	3.6%	6.5%	8.8%	12.5%	15.2%	16.0%	15.3%	15.2%	14.1%	13.2%	12.5%	10.3%	10.9%	11.5%	–	9.0%
EPS (₹)	7.36	14.59	4.29	7.80	7.84	15.99	10.66	17.02	11.30	18.47	6.72	12.33	5.55	10.38	6.01	13.97	16.87	24.53	33.69	33.40	21.34	30.37	21.96	20.28	12.35	11.94	13.21	16.08	0.00	12.58
Net profit YoY	−0.6%	−1.5%	−60.3%	−55.3%	−30.5%	−12.9%	+61.7%	+43.7%	+121.1%	+84.6%	+17.7%	−12.6%	−69.8%	−59.2%	−83.6%	−58.9%	−21.5%	−19.4%	+83.6%	+97.4%	+107.0%	+204.4%	+65.4%	+24.9%	–	–	–	–	−100.0%	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Revenue from operations	2,929	2,583	2,324	2,379	2,296	1,953	1,206	1,207	1,138
Other income	32.1	29.8	21	19	17	12.3	3.8	9	1.7
Total expenses	2,817	2,392	2,173	2,209	1,857	1,603	1,046	1,064	1,017
EBITDA	179	236	193	214	473	380	186	178	156
EBITDA margin	6.1%	9.1%	8.3%	9.0%	20.6%	19.5%	15.4%	14.7%	13.7%
Finance costs	37.7	20.9	20.4	24.5	16	12.7	13.8	23.6	25.4
Depreciation	30	24.1	21.6	19.8	18.3	17.9	12.7	11.2	9.7
Profit before tax	138	221	172	189	456	362	163	152	122
Tax	31.4	56.1	46.6	51.4	118	92.7	41	53.3	43.1
Net profit	106	165	126	137	338	269	122	98.8	79.2
Net margin	3.6%	6.4%	5.4%	5.8%	14.7%	13.8%	10.2%	8.2%	7.0%
EPS (₹)	34.52	54.97	43.07	47.23	112.95	90.25	48.66	39.12	31.38
Net profit YoY	−35.5%	+31.0%	−8.6%	−59.3%	+25.5%	+119.9%	+24.0%	+24.7%	–

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	−149	−80.5	240	181	−228
Investing cash flow	−34.4	−12.4	−124	−88.5	43.8
Financing cash flow	245	70.5	−91	−118	152
Capital expenditure	55.2	36.8	31.6	84.4	74.3
Free cash flow (CFO − capex)	−204	−117	208	96.5	−303

Net profit trend

annual, ₹ crore

FY21

₹269

FY22

₹338+25%

FY23

₹137−59%

FY24

₹126−9%

FY25

₹165+31%

FY26

₹106−36%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	14 Aug 2026	PDF on NSE XBRL
Q1 FY27	Standalone	14 Aug 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	21 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	21 May 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	14 Feb 2026	PDF on NSE XBRL
Q3 FY26	Standalone	14 Feb 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	8 Nov 2025	PDF on NSE XBRL
Q2 FY26	Standalone	8 Nov 2025	PDF on NSE XBRL
Q1 FY26	Consolidated	12 Aug 2025	PDF on NSE XBRL
Q1 FY26	Standalone	12 Aug 2025	PDF on NSE XBRL

Annual reports

NSE archive

FY2611.83 MB FY259.57 MB FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 25.9×34.7×

P/B5Y avg 2.72×2.00×

ROEFY26, on average equity6.0%

Net margin3.6%

Debt / equity0.32×

Revenue CAGR (3Y)7.2%

Profit CAGR (3Y)-8.3%

EPS (TTM)₹33.84

Market cap₹3,677 Cr

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

P/B vs history

2.00×

vs 8-point avg 2.72× (−26%)

1.41× low2.72× avg3.91× high

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

Balance sheet 31 Mar 2026

Total assets₹3,089 Cr+20%

Net worth₹1,834 Cr+6%

Total borrowings₹580 Cr+102%

Cash & bank balances₹91 Cr+214%

Investments₹155 Cr−12%

Inventories₹994 Cr+20%

Trade receivables₹1,126 Cr+24%

Trade payables₹540 Cr+25%

Change vs the same date a year earlier.

Revenue mix FY26

Vertical - A46.6%result ₹64.2 Cr

Vertical - B42.2%result ₹74.5 Cr

Vertical - C11.2%result ₹17.8 Cr

Segment revenue as reported, before inter-segment eliminations.

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	74.19	74.19	74.19	74.19	74.19	74.19	74.19	74.19	74.19	74.19	74.19	74.19
FII	0.72	0.74	0.89	0.95	0.95	1.21	1.24	1.14	0.84	0.83	0.95	1.69
DII	4.76	4.76	4.88	4.89	4.89	4.85	4.82	4.84	4.83	4.88	6.94	8.06
of which MF	–	–	0.09	0.09	0.08	–	–	–	–	–	–	–
Retail	14.31	15.76	16.22	16.12	15.99	15.73	15.39	15.51	16.89	17.02	15.18	13.43
Other public	6.02	4.55	3.82	3.85	3.98	4.02	4.36	4.32	3.25	3.08	2.74	2.63

64,430 shareholders · NSE shareholding pattern filings.