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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	Q2 FY22	Q1 FY22	Q4 FY21	Q3 FY21	Q2 FY21	Q1 FY21	Q4 FY20	Q3 FY20	Q2 FY20	Q1 FY20	Q4 FY19	Q4 FY18
Revenue from operations	58,188	54,982	52,100	46,106	45,529	42,599	41,470	37,924	37,218	35,452	35,299	34,436	33,892	32,366	30,620	29,870	28,412	25,934	21,470	19,172	21,456	21,626	23,567	16,321	20,182	25,020	23,936	26,041	0	0
Other income	1,016	995	859	676	917	702	411	659	409	356	511	592	807	484	300	207	216	281	266	196	315	242	285	199	317	283	213	248	0	0
Total expenses	51,943	49,615	46,561	41,193	41,280	39,114	37,097	34,309	33,330	32,172	32,143	31,680	30,492	29,626	28,073	27,276	26,195	23,814	18,715	20,286	19,825	20,468	22,516	17,369	20,546	24,767	23,412	25,271	0	0
EBITDA	10,565	9,716	10,107	8,929	8,228	7,911	8,231	7,133	7,243	6,604	6,224	5,730	6,246	5,568	5,253	5,068	4,397	4,278	4,892	987	3,884	3,521	3,843	1,724	2,415	3,405	3,310	3,435	0	0
EBITDA margin	18.2%	17.7%	19.4%	19.4%	18.1%	18.6%	19.8%	18.8%	19.5%	18.6%	17.6%	16.6%	18.4%	17.2%	17.2%	17.0%	15.5%	16.5%	22.8%	5.2%	18.1%	16.3%	16.3%	10.6%	12.0%	13.6%	13.8%	13.2%	–	–
Finance costs	2,560	2,407	2,405	2,347	2,431	2,397	2,362	2,217	2,108	1,989	1,945	1,835	1,719	1,634	1,596	1,382	1,219	1,222	1,285	1,300	1,403	1,516	1,600	1,608	1,576	1,538	1,526	1,425	0	0
Depreciation	1,760	1,943	2,163	1,669	1,548	2,029	1,495	1,302	1,248	1,335	1,123	1,139	1,128	1,194	1,110	1,092	960	935	852	802	850	847	1,193	1,163	1,203	1,615	1,259	1,241	0	0
Profit before tax	7,261	6,361	6,104	5,589	5,166	4,187	4,785	4,274	4,296	3,635	3,667	3,347	4,207	3,255	3,341	3,508	2,451	2,695	2,985	−967	1,625	1,253	565	−83.1	−1,829	527	760	1,155	0	0
Tax	1,631	1,654	1,547	2,094	1,268	1,085	1,468	1,379	1,075	905	935	1,084	784	493	738	922	533	648	954	−218	343	528	662	114	−6.5	697	737	548	0	0
Net profit	5,998	5,260	5,021	3,964	4,377	3,542	3,624	3,361	3,546	3,125	2,977	2,484	3,684	2,998	2,994	3,021	2,361	2,608	2,491	−332	1,150	160	148	54.6	−1,754	171	368	894	0	0
Net margin	10.3%	9.6%	9.6%	8.6%	9.6%	8.3%	8.7%	8.9%	9.5%	8.8%	8.4%	7.2%	10.9%	9.3%	9.8%	10.1%	8.3%	10.1%	11.6%	-1.7%	5.4%	0.7%	0.6%	0.3%	-8.7%	0.7%	1.5%	3.4%	–	–
EPS (₹)	48.80	41.77	41.85	32.90	36.58	29.52	28.51	28.43	29.44	24.71	23.86	21.07	31.50	23.68	24.05	24.93	19.74	20.13	17.35	3.82	13.63	11.43	1.22	-0.88	-12.04	1.80	3.14	8.25	0.00	0.00
Net profit YoY	+37.0%	+48.5%	+38.5%	+17.9%	+23.4%	+13.3%	+21.7%	+35.3%	−3.7%	+4.2%	−0.6%	−17.8%	+56.0%	+15.0%	–	+21.3%	+811.6%	+126.8%	+1579.3%	−707.1%	+165.5%	−6.5%	−59.7%	−93.9%	–	–	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Revenue from operations	1,98,639	1,59,211	1,39,078	1,21,269	90,171	74,278	95,179	1,04,721	93,265
Other income	3,446	2,181	2,176	1,206	935	1,033	1,063	1,086	631
Total expenses	1,78,572	1,43,850	1,26,398	1,11,170	84,013	70,082	93,656	98,526	87,306
EBITDA	36,980	30,518	24,892	20,285	14,683	13,677	12,564	15,207	13,226
EBITDA margin	18.6%	19.2%	17.9%	16.7%	16.3%	18.4%	13.2%	14.5%	14.2%
Finance costs	9,591	9,083	7,488	5,830	5,018	6,102	6,065	5,021	3,987
Depreciation	7,322	6,074	4,724	4,357	3,508	3,378	4,976	3,991	3,280
Profit before tax	23,220	17,542	14,856	12,555	7,506	4,071	612	7,504	9,218
Tax	6,563	5,006	3,708	2,686	2,109	1,646	1,976	2,854	2,368
Net profit	18,622	14,073	12,270	11,374	7,253	1,512	−321	6,017	7,958
Net margin	9.4%	8.8%	8.8%	9.4%	8.0%	2.0%	-0.3%	5.7%	8.5%
EPS (₹)	153.10	115.91	101.14	92.41	59.20	30.17	1.15	48.91	69.20
Net profit YoY	+32.3%	+14.7%	+7.9%	+56.8%	+379.6%	+571.1%	−105.3%	−24.4%	–

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	11,657	3,176	−5,630	−7,074	9,248
Investing cash flow	−17,794	−18,626	−5,603	−8,900	−3,239
Financing cash flow	5,391	15,834	12,281	15,946	−5,883
Capital expenditure	9,605	10,392	9,946	6,305	6,040
Free cash flow (CFO − capex)	2,052	−7,216	−15,576	−13,379	3,208

Net profit trend

annual, ₹ crore

FY21

₹1,512

FY22

₹7,253+380%

FY23

₹11,374+57%

FY24

₹12,270+8%

FY25

₹14,073+15%

FY26

₹18,622+32%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	30 Jul 2026	PDF on NSE XBRL
Q1 FY27	Standalone	30 Jul 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	5 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	5 May 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	11 Feb 2026	PDF on NSE XBRL
Q3 FY26	Standalone	11 Feb 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	4 Nov 2025	PDF XBRL
Q2 FY26	Standalone	4 Nov 2025	PDF XBRL
Q1 FY26	Consolidated	30 Jul 2025	PDF XBRL
Q1 FY26	Standalone	30 Jul 2025	PDF XBRL

Annual reports

NSE archive

FY2615.82 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)16.8×

P/B3.64×

ROEFY26, on average equity21.9%

Net margin9.4%

Debt / equity1.39×

Revenue CAGR (3Y)17.9%

Profit CAGR (3Y)17.9%

EPS (TTM)₹181.13

Market cap₹3.39L Cr

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₹3.18L Cr+14%

Net worth₹93,096 Cr+21%

Total borrowings₹1.3L Cr+7%

Cash & bank balances₹4,292 Cr−13%

Investments₹25,212 Cr−7%

Inventories₹22,044 Cr+8%

Trade receivables₹9,064 Cr+9%

Trade payables₹37,889 Cr+23%

Change vs the same date a year earlier.

Revenue mix FY26

Automotive57.7%result ₹10,383 Cr

Farm Equipment20.9%result ₹5,517 Cr

Industrial Businesses and Consumer Services11.1%result ₹3,705 Cr

Financial Services10.3%result ₹3,779 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	18.45	18.45	18.44	18.44	18.44	18.45	18.48	18.54	18.56	18.59	19.32	19.34
FII	34.89	36.22	37.49	38.04	38.54	38.30	38.91	41.19	41.89	41.75	40.87	40.26
DII	32.65	31.50	30.44	29.96	29.59	29.79	29.22	27.05	26.18	26.13	26.26	26.79
of which MF	18.15	17.25	16.61	16.35	15.39	–	–	–	–	–	–	–
Retail	8.61	8.45	8.19	8.13	8.03	8.06	7.97	7.80	7.90	8.00	8.00	8.09
Other public	1.93	1.88	1.92	1.88	1.82	1.80	1.78	1.73	1.75	1.78	1.78	1.72

9,89,776 shareholders · NSE shareholding pattern filings.