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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	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 FY18
Revenue from operations	218	146	153	149	183	294	242	230	342	297	242	215	510	680	457	401	264	297	247	153	209	152	42.6	22.8	95.4	66.5	43.4	60.6	134	44.5	58.4	134	222
Other income	16.6	41.4	38.5	38.5	43.2	34	32.7	29.7	26.8	35.5	19.6	27.6	14.1	12.3	14.9	12.7	10.7	8.3	176	6.5	8.3	3.5	6.5	5.8	7.4	6.8	7.5	6.8	8.1	7.8	7.4	8.2	7.3
Total expenses	155	133	126	117	148	195	140	208	264	262	149	159	412	573	346	325	225	269	189	102	192	138	44.3	22.8	105	99.8	57.4	71	131	42.7	44	115	152
EBITDA	71.5	18.9	32.8	36.6	40.6	106	107	27.6	83.5	49.6	103	65	109	124	129	93.9	55.6	44.4	77.7	69.8	39.8	30.2	13.3	13.9	5.6	−16.4	2.1	4.8	18.7	16	29.6	35.2	86.7
EBITDA margin	32.8%	13.0%	21.4%	24.6%	22.2%	36.2%	44.0%	12.0%	24.5%	16.7%	42.5%	30.2%	21.4%	18.3%	28.2%	23.4%	21.0%	15.0%	31.4%	45.5%	19.0%	19.8%	31.3%	60.9%	5.8%	-24.6%	4.9%	7.9%	13.9%	36.1%	50.8%	26.3%	39.0%
Finance costs	5.3	3.1	2.2	1.8	3.1	5.2	2.6	3.1	3.9	11.9	7.4	6.5	9.3	13.9	15.2	14.8	14	14.2	16.7	16.8	18.1	14.6	13.4	12.3	13.4	15.2	14.5	13.8	13.9	12.7	13.8	13.1	14.8
Depreciation	3.1	3.6	3.5	2.9	2.4	2.3	2.1	2	1.9	2.7	2.6	2.3	2.4	3.1	3	2.8	2.7	2.5	2.2	1.9	4.5	1.6	1.6	1.6	2.2	1.8	1.6	1.5	1.6	1.6	1.5	2.8	2
Profit before tax	79.7	53.7	65.6	70.3	78.3	133	135	52.1	105	70.5	112	83.8	112	120	126	89	49.7	35.9	234	57.7	25.5	17.6	4.9	5.9	−2.7	−26.6	−6.5	−3.7	11.3	9.6	21.8	27.6	77.3
Tax	21.9	13.8	20.5	18	21.6	38.4	4.9	15.8	28.8	12.6	36.9	17.8	26.7	30.9	36.1	26.9	8.1	−0.9	61	12.2	5.5	6.4	5.4	4.4	0.4	−23.5	−6.1	7.1	8.5	8.8	9.5	16.1	31.6
Net profit	62.7	41	51.6	60	58.3	97.2	84	47.2	84.4	64.7	86.5	65.1	87.1	91.5	90.6	63.1	41.4	40	172	44.9	19.9	12.5	−0.4	1.3	−1.5	−1.5	−0.8	−8.4	13.8	1.2	12.8	14.8	44.5
Net margin	28.7%	28.2%	33.7%	40.3%	31.9%	33.1%	34.7%	20.5%	24.7%	21.8%	35.8%	30.2%	17.1%	13.5%	19.8%	15.7%	15.7%	13.5%	69.6%	29.3%	9.5%	8.2%	-0.9%	5.7%	-1.6%	-2.2%	-1.9%	-13.9%	10.2%	2.7%	22.0%	11.0%	20.1%
EPS (₹)	1.77	1.06	1.16	1.38	1.48	2.05	2.25	1.20	2.09	1.76	2.23	1.88	2.22	2.20	2.28	1.43	1.01	0.94	4.50	1.33	0.62	0.52	0.06	0.09	-0.02	0.06	-0.12	-0.21	0.49	0.08	0.47	0.65	0.92
Net profit YoY	+7.6%	−57.8%	−38.6%	+27.0%	−30.9%	+50.3%	−2.9%	−27.4%	−3.1%	−29.4%	−4.5%	+3.3%	–	+121.0%	+126.4%	−63.4%	+108.0%	+219.6%	+44604.1%	+3350.1%	+1417.8%	+959.7%	+53.3%	+115.4%	−111.0%	−222.6%	−106.5%	−157.1%	−69.1%	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Revenue from operations	630	1,108	1,263	1,890	961	427	267	371	652
Other income	162	123	96.8	47.9	201	24.9	27.2	31.5	44.2
Total expenses	524	807	982	1,546	785	398	334	332	516
EBITDA	129	324	326	414	247	96.6	−2.7	99.7	199
EBITDA margin	20.4%	29.3%	25.8%	21.9%	25.7%	22.6%	-1.0%	26.8%	30.6%
Finance costs	10.2	14.7	35.1	58.4	61.8	58.4	56.9	53.4	55.5
Depreciation	12.4	8.3	10	11.2	9.3	9.2	7.1	7.4	8
Profit before tax	268	424	378	392	378	53.9	−39.5	70.4	180
Tax	73.9	87.9	93.9	108	80.4	21.8	−22.2	42.9	69.6
Net profit	211	313	303	289	299	33.3	−12.2	42.6	109
Net margin	33.5%	28.2%	24.0%	15.3%	31.0%	7.8%	-4.6%	11.5%	16.8%
EPS (₹)	5.07	7.59	8.09	6.96	5.83	1.29	-0.29	1.69	2.69
Net profit YoY	−32.5%	+3.1%	+5.0%	−3.2%	+795.3%	+372.7%	−128.7%	−61.0%	–

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	−49.7	133	573	448	187
Investing cash flow	−323	−115	−397	−102	27.5
Financing cash flow	306	−116	−27.9	−458	−82.2
Capital expenditure	24.7	9.2	14.2	14.6	21.5
Free cash flow (CFO − capex)	−74.4	124	558	433	165

Net profit trend

annual, ₹ crore

FY21

₹33.3

FY22

₹299+795%

FY23

₹289−3%

FY24

₹303+5%

FY25

₹313+3%

FY26

₹211−33%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	12 Aug 2026	PDF on NSE XBRL
Q1 FY27	Standalone	12 Aug 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	13 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	13 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	12 Nov 2025	PDF XBRL
Q2 FY26	Standalone	12 Nov 2025	PDF XBRL
Q1 FY26	Consolidated	13 Aug 2025	PDF XBRL
Q1 FY26	Standalone	13 Aug 2025	PDF XBRL

Annual reports

NSE archive

FY268.92 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 17.7×24.4×

P/B5Y avg 3.67×2.31×

ROEFY26, on average equity10.5%

Net margin33.5%

Debt / equity0.03×

Revenue CAGR (3Y)-30.7%

Profit CAGR (3Y)-9.9%

EPS (TTM)₹5.34

Market cap₹5,246 Cr

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

P/B vs history

2.31×

vs 8-point avg 3.67× (−37%)

1.40× low3.67× avg5.64× high

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

Balance sheet 31 Mar 2026

Total assets₹2,778 Cr+28%

Net worth₹2,266 Cr+29%

Total borrowings₹58 Cr+63%

Cash & bank balances₹86 Cr−49%

Investments₹241 Cr+84%

Inventories₹738 Cr+39%

Trade receivables₹71 Cr−18%

Trade payables₹74 Cr−6%

Change vs the same date a year earlier.

Revenue mix FY26

Real Estate52.0%result ₹163 Cr

EPC (Engineering, Procurement and Contacting)48.0%result ₹79.9 Cr

Segment revenue as reported, before inter-segment eliminations.

Shareholding 30 Jun 2026

%	Jun 26	Mar 26	Dec 25	Sept 25	Jul 25	Jun 25	Jun 25	Mar 25	Dec 24	Sept 24	Jun 24	Mar 24
Promoter	62.52	62.46	62.44	62.30	62.06	65.10	65.10	66.65	66.62	67.18	67.31	67.31
FII	1.91	3.80	3.92	5.21	5.14	4.28	4.25	3.81	4.56	3.71	3.57	3.55
DII	1.13	1.93	2.04	2.03	2.03	2.13	2.12	2.16	2.15	1.69	2.09	2.21
of which MF	1.13	1.93	2.03	2.03	2.03	2.12	–	–	–	–	–	–
Retail	25.02	22.82	22.72	22.07	22.21	21.00	21.12	21.02	20.54	21.61	21.56	21.35
Other public	9.42	8.99	8.88	8.39	8.56	7.49	7.41	6.36	6.13	5.81	5.47	5.58

87,961 shareholders · NSE shareholding pattern filings.