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Quarterly results

consolidated · as filed with NSE · Q1 FY27 back to Q3 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	Q1 FY23	Q4 FY22	Q3 FY22	Q2 FY22	Q1 FY22	Q4 FY21	Q3 FY21	Q2 FY21	Q1 FY21	Q4 FY20	Q3 FY20
Revenue from operations	5,718	5,539	5,450	5,026	4,991	4,886	4,797	4,465	4,316	4,280	4,100	3,833	3,583	3,463	3,324	2,902	2,865	2,974	2,929	2,550	30	2,958	3,035	3,057	3,101	3,046
Other income	6.9	20.8	14.5	23.3	22.8	11.2	2.7	14.1	39.4	52.6	36.9	30.2	53.7	73.7	29.1	11.8	32.4	11.4	21.9	17.3	0.4	35	35.4	12.1	39.2	35.2
Total expenses	4,505	4,317	4,245	4,306	4,330	4,303	3,582	3,971	3,713	3,453	3,323	3,494	3,168	2,615	2,477	2,607	2,035	1,662	1,494	4,725	28	3,330	2,571	2,807	2,842	2,465
EBITDA	3,684	3,552	3,537	3,012	3,026	2,885	3,472	2,636	2,639	2,761	2,644	2,109	2,079	2,390	2,283	1,390	1,933	2,418	2,611	−992	14.7	976	1,873	1,689	1,709	1,975
EBITDA margin	64.4%	64.1%	64.9%	59.9%	60.6%	59.0%	72.4%	59.0%	61.2%	64.5%	64.5%	55.0%	58.0%	69.0%	68.7%	47.9%	67.5%	81.3%	89.2%	-38.9%	48.9%	33.0%	61.7%	55.2%	55.1%	64.8%
Finance costs	2,372	2,220	2,236	2,198	2,280	2,218	2,175	2,062	1,960	1,861	1,798	1,703	1,597	1,477	1,373	1,052	1,053	1,071	1,143	1,151	12.3	1,312	1,369	1,401	1,431	1,351
Depreciation	99.1	110	96.2	93.9	85.9	84.5	82.2	78.7	75.8	72.2	69.2	67.1	66.4	65	63	43.4	49.7	35.4	34.2	32.8	0.4	36.5	39.6	37.9	19	43.2
Profit before tax	1,220	1,243	1,087	743	683	594	1,217	509	642	880	814	369	469	921	876	307	862	1,324	1,477	−2,158	2.4	−337	500	490	298	616
Tax	315	319	279	193	175	153	315	133	164	225	203	96	121	259	219	78.6	240	342	385	−568	0.4	−89.7	135	71.7	67.5	154
Net profit	927	940	826	566	529	456	918	390	497	671	623	287	362	675	664	240	629	992	1,103	−1,573	2.2	−223	353	432	239	475
Net margin	16.2%	17.0%	15.1%	11.3%	10.6%	9.3%	19.1%	8.7%	11.5%	15.7%	15.2%	7.5%	10.1%	19.5%	20.0%	8.3%	21.9%	33.4%	37.7%	-61.7%	7.3%	-7.5%	11.6%	14.1%	7.7%	15.6%
EPS (₹)	6.66	6.75	5.93	4.06	4.06	3.70	7.43	3.15	4.03	5.43	5.05	2.28	2.91	5.52	5.36	1.94	5.06	8.01	8.93	-12.77	1.76	-1.84	3.83	7.01	3.82	7.67
Net profit YoY	+75.3%	+106.2%	−10.0%	+45.1%	+6.4%	−32.0%	+47.3%	+35.8%	+37.2%	−0.6%	−6.2%	–	+51.0%	+7.4%	−33.0%	+115.2%	+28621.4%	+544.6%	+212.9%	−464.1%	−99.1%	−147.0%	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20
Revenue from operations	21,005	18,463	15,797	12,700	11,318	121	11,883
Other income	81.4	67.4	173	133	82.9	1.2	114
Total expenses	17,198	15,569	13,438	10,016	9,917	115	10,440
EBITDA	13,127	11,631	9,593	8,004	5,970	60	6,980
EBITDA margin	62.5%	63.0%	60.7%	63.0%	52.8%	49.8%	58.7%
Finance costs	8,934	8,415	6,959	5,094	4,417	53.1	5,391
Depreciation	386	321	275	226	152	1.5	147
Profit before tax	3,756	2,962	2,532	2,760	1,504	8.9	1,556
Tax	965	766	645	733	399	1.5	516
Net profit	2,861	2,261	1,943	2,071	1,150	7.8	1,086
Net margin	13.6%	12.2%	12.3%	16.3%	10.2%	6.5%	9.1%
EPS (₹)	20.88	18.32	15.66	16.81	9.23	6.99	17.48
Net profit YoY	+26.5%	+16.4%	−6.2%	+80.1%	+14642.7%	−99.3%	–

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	−12,772	−15,602	−18,449	−17,395	18.1
Investing cash flow	770	−1,077	2,670	−1,635	3,111
Financing cash flow	10,637	17,605	16,095	18,852	−3,173
Capital expenditure	416	442	323	413	301
Free cash flow (CFO − capex)	−13,188	−16,044	−18,772	−17,809	−283

Net profit trend

annual, ₹ crore

FY21

₹7.8

FY22

₹1,150+14643%

FY23

₹2,071+80%

FY24

₹1,943−6%

FY25

₹2,261+16%

FY26

₹2,861+27%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	21 Jul 2026	PDF on NSE XBRL
Q1 FY27	Standalone	21 Jul 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	24 Apr 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	24 Apr 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	28 Jan 2026	PDF on NSE XBRL
Q3 FY26	Standalone	28 Jan 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	28 Oct 2025	PDF on NSE XBRL
Q2 FY26	Standalone	28 Oct 2025	PDF on NSE XBRL
Q1 FY26	Consolidated	22 Jul 2025	PDF on NSE XBRL
Q1 FY26	Standalone	–	PDF on NSE XBRL

Annual reports

NSE archive

FY2613.83 MB FY25 FY23 FY22 FY21 FY20 FY19 FY18 FY17 FY16

Key ratios

P/E (TTM)5Y avg 16.8×14.2×

P/B5Y avg 1.83×1.74×

ROEFY26, on average equity11.9%

Net margin13.6%

Debt / equity2.91×

Revenue CAGR (3Y)18.3%

Profit CAGR (3Y)11.4%

EPS (TTM)₹23.46

Market cap₹46,286 Cr

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

P/B vs history

1.74×

vs 9-point avg 1.83× (−5%)

1.49× low1.83× avg2.27× high

History points are balance-sheet dates (2021 → 2026), priced at the adjusted close on each date.

Balance sheet 31 Mar 2026

Total assets₹1.59L Cr+10%

Net worth₹26,639 Cr+24%

Total borrowings₹77,612 Cr+8%

Cash & bank balances₹465 Cr−75%

Investments₹7,407 Cr−30%

Inventories₹0 Cr

Trade receivables₹326 Cr+32%

Change vs the same date a year earlier.

Revenue mix FY26

Financing activities92.8%result ₹3,642 Cr

Others7.2%result ₹184 Cr

Segment revenue as reported, before inter-segment eliminations.

Shareholding 30 Jun 2026

%	Jun 26	Mar 26	Dec 25	Sept 25	Jun 25	Jun 25	Mar 25	Dec 24	Sept 24	Jun 24	Mar 24	Dec 23
Promoter	52.49	52.49	52.49	52.49	52.49	52.49	52.16	52.16	52.16	52.16	52.16	52.16
FII	9.53	9.40	9.11	9.59	9.34	9.46	10.68	10.48	10.19	10.09	11.96	12.73
DII	31.49	32.09	32.35	32.29	32.33	31.95	31.31	31.16	31.57	30.67	28.61	26.96
of which MF	16.68	17.01	17.18	17.93	18.38	–	–	–	–	–	–	–
Retail	5.63	5.27	5.17	4.92	5.05	5.07	5.13	5.38	5.22	6.02	6.03	6.77
Other public	0.83	0.72	0.85	0.67	0.75	0.99	0.67	0.77	0.79	0.97	1.15	1.28

2,41,776 shareholders · NSE shareholding pattern filings.