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Quarterly results

consolidated · as filed with NSE · Q1 FY27 back to Q1 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	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
Revenue from operations	41,609	28,493	29,720	25,953	20,988	27,601	25,601	28,786	27,289	29,190	28,383	22,844	24,833	29,401	30,966	28,453	35,915	28,228	25,033	17,717	15,096	20,828	14,078	9,671	6,319	17,283	16,418	15,029	11,176
Other income	70.9	59.2	39.3	61.3	38	37.8	33.3	37.4	44.7	39.3	39.6	61	51.8	86.1	42.3	24.9	36.7	22.7	43.4	18.9	14.4	25.5	33.2	16.1	22	17.2	57.4	34.9	47.2
Total expenses	40,937	27,317	27,545	25,055	21,429	27,055	25,165	29,887	27,234	27,455	27,832	21,313	23,326	26,538	31,314	31,060	31,799	25,901	23,842	18,286	15,409	20,425	14,437	9,598	7,400	20,274	16,779	16,339	12,070
EBITDA	1,318	1,783	2,785	1,489	180	1,130	1,031	−474	606	2,330	1,159	2,138	2,068	3,490	287	−1,995	4,714	2,941	1,717	−13.2	285	905	51.8	334	−594	−2,418	219	−646	−384
EBITDA margin	3.2%	6.3%	9.4%	5.7%	0.9%	4.1%	4.0%	-1.6%	2.2%	8.0%	4.1%	9.4%	8.3%	11.9%	0.9%	-7.0%	13.1%	10.4%	6.9%	-0.1%	1.9%	4.3%	0.4%	3.5%	-9.4%	-14.0%	1.3%	-4.3%	-3.4%
Finance costs	244	212	219	219	257	245	264	285	214	262	274	311	267	330	338	315	302	394	236	268	310	210	109	−26.2	211	301	309	387	245
Depreciation	401	395	391	371	363	338	332	342	335	333	334	296	294	296	298	297	296	220	290	289	289	293	302	287	276	272	271	277	266
Profit before tax	1,215	1,236	2,214	960	−403	584	469	−1,064	101	1,766	591	1,592	1,559	2,950	−303	−2,582	4,153	2,319	1,235	−551	−299	428	−326	89.4	−1,059	−2,974	−304	−1,275	−847
Tax	300	1,116	769	336	−131	221	165	−359	35.1	629	204	546	546	1,042	−101	−786	1,445	−685	648	−141	−69.6	161	−74	81	−304	−724	−73.2	−264	−298
Net profit	946	117	1,451	627	−271	371	309	−697	73.2	1,139	392	1,052	1,015	1,913	−195	−1,779	2,716	3,008	589	−410	−229	269	−253	9.4	−756	−2,250	−230	−1,011	−548
Net margin	2.3%	0.4%	4.9%	2.4%	-1.3%	1.3%	1.2%	-2.4%	0.3%	3.9%	1.4%	4.6%	4.1%	6.5%	-0.6%	-6.3%	7.6%	10.7%	2.4%	-2.3%	-1.5%	1.3%	-1.8%	0.1%	-12.0%	-13.0%	-1.4%	-6.7%	-4.9%
EPS (₹)	5.40	0.67	8.28	3.58	-1.54	2.11	1.76	-3.98	0.42	6.50	2.24	6.00	5.79	10.92	-1.11	-10.15	15.50	17.17	3.36	-2.34	-1.31	1.55	-1.22	0.64	-4.11	-10.77	-0.86	-4.93	-2.57
Net profit YoY	+449.4%	−68.4%	+369.1%	+190.0%	−469.7%	−67.4%	−21.1%	−166.3%	−92.8%	−40.5%	+301.1%	+159.1%	−62.6%	−36.4%	−133.1%	−333.8%	+1285.3%	+1019.8%	+332.9%	−4458.7%	+69.7%	+111.9%	−10.0%	+100.9%	−37.9%	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20
Revenue from operations	1,05,155	1,09,277	1,05,223	1,24,736	86,064	50,895	59,980
Other income	198	153	192	190	98.3	96.9	82
Total expenses	1,01,347	1,09,340	99,899	1,20,711	83,428	51,911	65,462
EBITDA	6,235	2,293	7,696	6,497	4,931	697	−3,155
EBITDA margin	5.9%	2.1%	7.3%	5.2%	5.7%	1.4%	-5.3%
Finance costs	907	1,008	1,114	1,285	1,207	554	1,241
Depreciation	1,520	1,347	1,257	1,187	1,088	1,158	1,086
Profit before tax	4,007	90.8	5,508	4,217	2,704	−919	−5,400
Tax	2,090	62.7	1,925	1,600	−247	−154	−1,359
Net profit	1,925	56.2	3,597	2,655	2,958	−765	−4,039
Net margin	1.8%	0.1%	3.4%	2.1%	3.4%	-1.5%	-6.7%
EPS (₹)	10.98	0.32	20.52	15.15	16.88	-3.24	-19.13
Net profit YoY	+3323.9%	−98.4%	+35.5%	−10.2%	+486.7%	+81.1%	–

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	2,531	1,878	7,045	6,364	4,693
Investing cash flow	−1,378	−940	−1,518	−673	−595
Financing cash flow	−598	−938	−5,524	−5,690	−4,119
Capital expenditure	1,412	990	1,556	703	611
Free cash flow (CFO − capex)	1,119	888	5,489	5,662	4,082

Net profit trend

annual, ₹ crore

FY21

₹−765

FY22

₹2,958+487%

FY23

₹2,655−10%

FY24

₹3,597+35%

FY25

₹56.2−98%

FY26

₹1,925+3324%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	15 Jul 2026	PDF on NSE XBRL
Q1 FY27	Standalone	15 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	14 Jan 2026	PDF on NSE XBRL
Q3 FY26	Standalone	14 Jan 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	15 Oct 2025	PDF on NSE XBRL
Q2 FY26	Standalone	15 Oct 2025	PDF on NSE XBRL
Q1 FY26	Consolidated	18 Jul 2025	PDF on NSE XBRL
Q1 FY26	Consolidated	–	PDF on NSE XBRL

Annual reports

NSE archive

FY2611.49 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 112.4×9.2×

P/B5Y avg 1.86×2.03×

ROEFY26, on average equity14.2%

Net margin1.8%

Debt / equity1.01×

Revenue CAGR (3Y)-5.5%

Profit CAGR (3Y)-10.2%

EPS (TTM)₹17.92

Market cap₹28,848 Cr

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

P/B vs history

2.03×

vs 8-point avg 1.86× (+9%)

0.93× low1.86× avg2.88× high

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

Balance sheet 31 Mar 2026

Total assets₹44,481 Cr+29%

Net worth₹14,197 Cr+9%

Total borrowings₹14,334 Cr+11%

Cash & bank balances₹564 Cr+5489%

Investments₹5 Cr+12%

Inventories₹14,422 Cr+87%

Trade receivables₹6,059 Cr+73%

Trade payables₹11,063 Cr+90%

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	88.58	88.58	88.58	88.58	88.58	88.58	88.58	88.58	88.58	88.58	88.58	88.58
FII	2.17	3.41	2.05	1.21	1.30	1.30	1.36	1.70	2.27	2.68	2.55	1.54
DII	0.39	0.34	1.05	1.45	1.38	1.33	1.67	1.49	1.51	1.50	1.57	1.11
of which MF	0.31	0.28	0.81	1.20	1.14	–	–	–	–	–	–	–
Retail	6.70	5.67	6.17	6.84	6.85	6.89	6.51	6.58	5.99	5.61	5.65	6.96
Other public	2.16	2.00	2.15	1.92	1.89	1.90	1.88	1.65	1.65	1.63	1.65	1.81

4,81,301 shareholders · NSE shareholding pattern filings.