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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	Q3 FY22	Q2 FY22	Q1 FY22	Q4 FY21	Q3 FY21	Q2 FY21	Q1 FY21	Q4 FY20	Q3 FY20	Q2 FY20	Q1 FY20	Q4 FY18
Revenue from operations	217	371	198	190	65.7	170	170	174	184	209	192	2	199	219	227	238	251	239	304	306	301	316	360	342	369	393	408	389	434	0
Other income	75.2	511	33.6	31.4	141	160	169	152	198	145	143	1.7	113	199	127	137	150	281	113	119	116	155	111	116	104	126	217	239	112	0
Total expenses	1,135	1,188	1,129	1,182	1,151	1,159	1,176	1,218	1,156	1,137	1,175	11.7	1,165	1,167	1,130	1,114	1,054	1,118	1,076	1,080	1,106	1,071	1,109	1,041	1,112	1,141	1,690	1,578	1,600	0
EBITDA	−33	60.1	−40.7	−108	−186	−122	−128	−119	−111	−74.9	−126	−1.3	−154	−126	−129	−111	−79.8	−154	−27.6	−50.5	−86.5	−11.8	6.2	42	18.9	−3.1	−560	−458	−438	0
EBITDA margin	-15.2%	16.2%	-20.6%	-57.1%	-282.2%	-71.8%	-75.3%	-68.5%	-60.3%	-35.8%	-65.4%	-67.1%	-77.4%	-57.3%	-56.8%	-46.8%	-31.8%	-64.6%	-9.1%	-16.5%	-28.7%	-3.7%	1.7%	12.3%	5.1%	-0.8%	-137.3%	-117.8%	-100.9%	–
Finance costs	748	738	749	742	754	716	728	769	705	689	691	6.7	645	641	592	581	540	538	552	533	516	531	541	510	526	505	479	484	475	0
Depreciation	137	139	142	142	145	151	150	155	157	164	166	1.7	166	181	181	184	183	187	192	191	202	212	214	231	236	240	244	248	254	0
Profit before tax	−843	−306	−898	−961	−944	−829	−836	−891	−774	−784	−840	−7.9	−852	−749	−776	−738	−653	−598	−660	−655	−689	−600	−638	−583	−639	−623	−1,066	−950	−1,054	0
Tax	0	0.1	0	0	0	−0.6	0	0	0	−0.2	0	0	0	−0.5	0	0	0	2.9	0	0	0	2.1	0	0	0	1.1	0	0	0	0
Net profit	−842	−307	−897	−960	−943	−828	−836	−890	−773	−784	−839	−7.9	−852	−749	−776	−738	−653	−601	−659	−655	−689	−602	−638	−582	−639	−624	−1,065	−950	−1,055	0
Net margin	-388.4%	-82.8%	-454.1%	-506.0%	-1434.7%	-487.4%	-491.6%	-511.0%	-420.7%	-375.0%	-436.4%	-400.8%	-427.1%	-341.5%	-341.0%	-310.2%	-260.5%	-251.7%	-217.2%	-214.1%	-228.7%	-190.4%	-176.9%	-170.2%	-173.3%	-158.6%	-261.1%	-244.6%	-243.1%	–
EPS (₹)	-13.37	-4.87	-14.24	-15.24	-14.97	-13.14	-13.27	-14.13	-12.28	-12.44	-13.32	-12.58	-13.52	-11.88	-12.31	-11.71	-10.37	-9.53	-10.47	-10.39	-10.93	-9.56	-10.12	-9.24	-10.15	-9.90	-16.91	-15.08	-16.74	0.00
Net profit YoY	+10.7%	+62.9%	−7.3%	−7.9%	−21.9%	−5.6%	+0.4%	−11129.3%	+9.2%	−4.7%	−8.2%	+98.9%	−30.5%	−24.6%	−17.6%	−12.7%	+5.2%	+0.2%	−3.4%	−12.4%	−7.8%	+3.5%	+40.1%	+38.7%	+39.4%	–	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY18
Revenue from operations	956	698	799	935	1,149	1,388	1,624	2,472
Other income	585	681	575	613	629	485	693	745
Total expenses	4,650	4,709	4,643	4,465	4,379	4,333	6,009	6,188
EBITDA	−142	−480	−488	−446	−319	55.4	−1,458	−1,157
EBITDA margin	-14.8%	-68.8%	-61.1%	-47.7%	-27.7%	4.0%	-89.8%	-46.8%
Finance costs	2,983	2,918	2,690	2,354	2,140	2,107	1,942	1,505
Depreciation	568	612	666	730	772	893	986	1,054
Profit before tax	−3,109	−3,330	−3,270	−2,917	−2,601	−2,460	−3,693	−2,971
Tax	0.1	−0.6	−0.2	−0.5	2.9	2.1	1.1	0.9
Net profit	−3,107	−3,328	−3,268	−2,915	−2,603	−2,461	−3,694	−2,971
Net margin	-324.9%	-476.7%	-409.2%	-311.7%	-226.5%	-177.4%	-227.5%	-120.2%
EPS (₹)	-49.32	-52.82	-51.87	-46.27	-41.32	-39.07	-58.63	-47.16
Net profit YoY	+6.6%	−1.8%	−12.1%	−12.0%	−5.8%	+33.4%	–	–

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	176	340	130	63.8	704
Investing cash flow	−201	−28.7	107	−174	204
Financing cash flow	−19.3	−215	−319	177	−936
Capital expenditure	24.9	35.8	73.1	43.7	12.8
Free cash flow (CFO − capex)	152	304	57	20.2	691

Net profit trend

annual, ₹ crore

FY21

₹−2,461

FY22

₹−2,603−6%

FY23

₹−2,915−12%

FY24

₹−3,268−12%

FY25

₹−3,328−2%

FY26

₹−3,107+7%

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	21 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	21 May 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	12 Feb 2026	PDF on NSE XBRL
Q3 FY26	Standalone	12 Feb 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	14 Nov 2025	PDF on NSE XBRL
Q2 FY26	Standalone	14 Nov 2025	PDF on NSE XBRL
Q1 FY26	Consolidated	13 Aug 2025	PDF XBRL
Q1 FY26	Standalone	13 Aug 2025	PDF XBRL

Annual reports

NSE archive

FY263.31 MB FY259.55 MB FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)-0.5×

P/B-0.05×

ROEFY26, on average equity10.9%

Net margin-324.9%

Debt / equity-1.18×

Revenue CAGR (3Y)0.7%

Profit CAGR (3Y)–

EPS (TTM)₹-47.72

Market cap₹1,487 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₹10,076 Cr−1%

Net worth₹-29,960 Cr−11%

Total borrowings₹35,425 Cr+9%

Cash & bank balances₹137 Cr−24%

Investments₹0 Cr

Inventories₹7 Cr+11%

Trade receivables₹330 Cr−41%

Trade payables₹1,033 Cr+3%

Change vs the same date a year earlier.

Revenue mix FY26

Infrastructure Leasing53.0%result ₹407 Cr

Basic & other Services38.1%result ₹−110 Cr

Cellular9.0%result ₹−501 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	56.25	56.25	56.25	56.25	56.25	56.25	56.25	56.25	56.25	56.25	56.25	56.82
FII	0.39	0.51	0.05	0.04	0.54	0.14	0.09	0.06	0.38	0.55	0.47	0.40
DII	13.43	13.43	13.43	13.45	13.45	13.45	13.49	13.47	13.63	13.63	13.75	13.88
Retail	27.24	27.11	27.39	27.43	26.76	27.37	27.28	27.24	25.50	25.36	25.35	25.34
Other public	2.69	2.70	2.88	2.83	3.00	2.79	2.89	2.98	4.24	4.21	4.18	3.56

3,66,221 shareholders · NSE shareholding pattern filings.