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Quarterly results

standalone · as filed with NSE · Q1 FY27 back to Q4 FY17

₹ 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	Q1 FY20	Q4 FY19	Q3 FY19	Q2 FY19	Q1 FY19	Q4 FY17
Revenue from operations	123	106	76.8	56.4	94.3	93	62.6	64.7	57.5	75.2	61.4	68	69.9	58.1	47.3	65.3	63.2	77.3	56.3	44	34.3	64.8	45.8	36.3	22.9	61.3	51.6	58.4	55.1	61.8	69.8	78.4	64.4	73.5
Other income	0.1	0.4	0.1	0.1	0.1	0.2	0.1	0.1	0.1	0.2	0.2	0.2	0.1	0.3	0.1	0.1	0.1	0.5	0.1	0.3	0.2	0.3	0.2	0.2	0.2	0.3	0.2	0.3	0.3	0.3	0.3	0.3	0.3	0.2
Total expenses	122	106	84.3	64.1	103	97.5	67.9	69.7	60.5	74.9	61	67.9	69.7	59.6	52.8	72.9	63.1	76.5	58.6	47.7	38.4	63.2	46	39.7	27.9	60.7	52.3	58.4	54.9	60.6	68	73.7	63.1	72.5
EBITDA	5.7	4.2	−3.2	−3.2	−4.9	0.5	−1.2	−1.1	0.8	4.6	4.2	4	4	2.1	−2.2	−4.3	3.4	4.7	0.8	−0.7	−1.2	5	2.9	−0.2	−1.9	3.6	2.5	3.3	3.5	4.3	5.2	8.4	5.5	5.1
EBITDA margin	4.7%	4.0%	-4.2%	-5.7%	-5.2%	0.6%	-1.9%	-1.6%	1.3%	6.2%	6.8%	5.8%	5.7%	3.7%	-4.7%	-6.5%	5.3%	6.0%	1.4%	-1.6%	-3.4%	7.8%	6.3%	-0.6%	-8.5%	5.8%	4.8%	5.7%	6.3%	7.0%	7.5%	10.8%	8.5%	6.9%
Finance costs	2.6	2.8	2.9	3.1	2.5	3.5	2.8	2.7	2.4	3.1	2.6	2.6	2.6	2.4	2.1	2.1	2	2.6	1.8	1.8	1.7	2.2	1.8	2	1.8	1.8	2	2.2	2	2	2.2	2.5	3.1	2.8
Depreciation	1.4	1.4	1.4	1.4	1.4	1.5	1.3	1.3	1.3	1.3	1.3	1.3	1.3	1.3	1.3	1.3	1.3	1.3	1.3	1.2	1.2	1.2	1.3	1.3	1.3	1.3	1.2	1.2	1.2	1.2	1.2	1.2	1.2	1.2
Profit before tax	1.8	0.5	−7.4	−7.6	−8.7	−4.3	−5.2	−4.9	−2.8	0.4	0.5	0.2	0.3	−1.3	−5.4	−7.5	0.2	1.2	−2.2	−3.4	−3.9	1.9	0	−3.2	−4.8	0.9	−0.5	0.2	0.5	1.5	2.1	5	1.5	1.2
Tax	0.6	3.2	−2.3	−2	−2.5	−1.4	−1.5	−1.2	−0.8	0.3	0.1	0.1	0	−0.2	−1.4	−1.9	0	0.4	−0.6	−0.9	−1	0.5	0.9	−1.1	−1.6	0.3	−0.2	0.1	0.2	−0.3	1	1.5	0.5	0.5
Net profit	1.3	−2.7	−5.1	−5.6	−6.2	−2.8	−3.7	−3.7	−2	0.1	0.4	0.2	0.3	−1.1	−4	−5.5	0.2	0.8	−1.6	−2.6	−2.9	1.3	−0.9	−2.2	−3.2	0.5	−0.3	0.1	0.3	1.8	1.1	3.4	1	0.8
Net margin	1.0%	-2.5%	-6.6%	-9.9%	-6.5%	-3.0%	-5.9%	-5.7%	-3.4%	0.1%	0.6%	0.3%	0.4%	-1.9%	-8.5%	-8.5%	0.3%	1.1%	-2.8%	-5.8%	-8.6%	2.1%	-1.9%	-5.9%	-14.1%	0.9%	-0.6%	0.2%	0.6%	2.9%	1.6%	4.4%	1.6%	1.0%
EPS (₹)	0.75	-1.56	-2.99	-3.28	-3.61	-1.65	-2.15	-2.15	-1.15	0.08	0.21	0.10	0.16	-0.57	-2.35	-3.25	0.11	0.54	-0.93	-1.50	-1.72	0.73	-0.50	-1.26	-1.89	0.31	-0.19	0.08	0.19	1.07	0.67	2.01	0.60	0.44
Net profit YoY	+120.8%	+4.6%	−38.8%	−52.3%	−212.5%	−2947.1%	−1128.4%	−2206.3%	−843.1%	+109.2%	+108.9%	+103.1%	+43.7%	−229.7%	−153.5%	−116.2%	+106.3%	−38.1%	−85.0%	−19.2%	+8.7%	+155.3%	−166.0%	−1774.2%	−1079.2%	−71.2%	−128.3%	−96.3%	−68.1%	–	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY17
Revenue from operations	333	278	274	234	212	170	226	274	60.6
Other income	0.8	0.5	0.6	0.7	1.1	0.9	1.1	1.1	0.8
Total expenses	357	296	274	249	221	177	226	265	60.4
EBITDA	−7.1	−0.9	16.7	−1	3.6	5.7	12.8	23.5	4.1
EBITDA margin	-2.1%	-0.3%	6.1%	-0.4%	1.7%	3.4%	5.7%	8.6%	6.8%
Finance costs	11.4	11.4	10.9	8.6	7.9	7.8	7.9	9.7	2.7
Depreciation	5.5	5.3	5	5	5.1	5	4.9	4.8	1.3
Profit before tax	−23.2	−17.1	1.5	−14	−8.3	−6.1	1.1	10.1	0.9
Tax	−3.7	−5	0.6	−3.5	−2	−0.3	0.4	2.7	0.3
Net profit	−19.5	−12.1	0.9	−10.5	−6.3	−5.8	0.7	7.4	0.6
Net margin	-5.9%	-4.4%	0.3%	-4.5%	-3.0%	-3.4%	0.3%	2.7%	1.1%
EPS (₹)	-11.43	-7.11	0.54	-6.07	-3.61	-3.44	0.39	4.35	0.38
Net profit YoY	−61.0%	−1455.0%	+108.6%	−66.9%	−8.5%	−974.1%	−91.1%	–	–

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	7.3	3.8	9.5	−9.2	−2.4
Investing cash flow	−6.6	−2.9	−7.5	−1.3	0.2
Financing cash flow	−0.6	−0.8	−1.7	10.6	2.5
Capital expenditure	6	2.4	7.8	1.4	−0.1
Free cash flow (CFO − capex)	1.3	1.4	1.8	−10.6	−2.5

Net profit trend

annual, ₹ crore

FY21

₹−5.8

FY22

₹−6.3−9%

FY23

₹−10.5−67%

FY24

₹0.9+109%

FY25

₹−12.1−1455%

FY26

₹−19.5−61%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Standalone	–	PDF on NSE XBRL
Q1 FY27	Standalone	23 Jul 2026	PDF XBRL
Q4 FY26	Standalone · audited	28 May 2026	PDF on NSE XBRL
Q3 FY26	Standalone	11 Feb 2026	PDF on NSE XBRL
Q2 FY26	Standalone	12 Nov 2025	PDF XBRL
Q1 FY26	Standalone	8 Aug 2025	PDF XBRL
Q4 FY25	Standalone · audited	23 May 2025	PDF on NSE XBRL
Q3 FY25	Standalone	10 Feb 2025	PDF on NSE XBRL
Q2 FY25	Standalone	14 Nov 2024	PDF on NSE XBRL
Q1 FY25	Standalone	14 Aug 2024	PDF on NSE XBRL

Annual reports

NSE archive

FY265.64 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 69.1×-4.6×

P/B5Y avg 22.87×-2.18×

ROEFY26, on average equity125.2%

Net margin-5.9%

Debt / equity-5.99×

Revenue CAGR (3Y)12.5%

Profit CAGR (3Y)–

EPS (TTM)₹-7.09

Market cap₹56 Cr

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

P/B vs history

-2.18×

vs 8-point avg 22.87× (−110%)

-2.18× low22.87× avg81.92× high

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

Balance sheet 31 Mar 2026

Total assets₹181 Cr+5%

Net worth₹-25 Cr−345%

Total borrowings₹153 Cr+8%

Cash & bank balances₹0 Cr−14%

Investments₹0 Cr+0%

Inventories₹43 Cr−7%

Trade receivables₹39 Cr+13%

Trade payables₹47 Cr+65%

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	69.80	69.80	69.80	69.80	69.80	69.80	69.80	69.80	69.95	69.95	69.95	69.95
Retail	24.36	24.23	24.43	24.39	24.40	24.33	24.45	24.64	24.47	24.60	24.39	23.89
Other public	5.84	5.97	5.77	5.81	5.80	5.87	5.75	5.56	5.58	5.45	5.66	6.16

9,253 shareholders · NSE shareholding pattern filings.