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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 FY19	Q3 FY19	Q2 FY19	Q1 FY19	Q4 FY18
Revenue from operations	2,260	4,560	3,022	2,910	2,391	4,643	2,827	2,459	2,144	4,025	2,413	2,053	1,918	2,790	2,136	2,030	1,799	2,441	2,009	1,913	1,387	2,667	2,104	1,377	684	2,600	1,930	1,666	1,891	3,138	2,439	1,406	1,854	2,546
Other income	61.4	58.8	72.3	107	74.3	58.3	55.2	67.2	53.7	51.4	58.9	75.8	47.9	53.1	55.5	44.2	54.2	55.4	47.3	48.3	43	39.4	45.6	49.7	45.6	51.1	49.3	54.9	50.6	55.9	49.3	59.4	44.2	52.4
Total expenses	2,108	4,276	2,912	2,813	2,284	4,355	2,686	2,360	2,054	3,783	2,297	1,959	1,862	2,687	2,042	1,943	1,749	2,371	1,939	1,863	1,380	2,595	2,043	1,365	723	2,552	1,907	1,669	1,869	2,981	2,369	1,359	1,789	2,364
EBITDA	155	287	114	101	110	290	142	99.9	91.6	243	117	95.5	57.2	104	95.2	88.4	52.4	73	72.8	51.9	9.3	76	63.9	14.8	−35.6	52	25.9	−1.5	27.1	158	70.9	45.6	67.6	192
EBITDA margin	6.9%	6.3%	3.8%	3.5%	4.6%	6.2%	5.0%	4.1%	4.3%	6.0%	4.9%	4.7%	3.0%	3.7%	4.5%	4.4%	2.9%	3.0%	3.6%	2.7%	0.7%	2.9%	3.0%	1.1%	-5.2%	2.0%	1.3%	-0.1%	1.4%	5.0%	2.9%	3.2%	3.6%	7.5%
Finance costs	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1.4	1.4	1.4	1.4	1.4	2.5	1.4	1.4	1.3	1.4	1.3	1.3	2.7	0.4	0.2	−0.9	0.9	8.8
Depreciation	3.5	3.9	3.1	3	3	3	1.5	1.5	1.5	1.4	1.3	1.3	1.2	1.7	1.2	1.2	1.2	1.2	1.2	1.2	1	1.1	1.4	1.6	1.5	1.9	1.6	1	2	0.2	1.3	0.1	1.3	1.2
Profit before tax	213	342	263	205	181	249	196	166	144	198	152	105	104	151	95.1	131	−6.5	52.8	117	97.6	49.8	112	107	61.6	7.3	99.8	72.3	51.1	73	213	119	106	110	234
Tax	54.8	88.8	67.9	48.1	46.4	66.4	53.8	40.8	36.6	56.1	38.8	22.9	26.4	37.3	23.7	33.6	−0.7	11.6	30.3	23.1	12.8	28.1	9.8	15.9	−3	15.8	17.2	142	22.1	70.5	32.1	33.3	33.2	83.4
Net profit	158	254	197	157	135	183	142	125	107	141	114	81.9	77.4	114	71.5	97.7	−4.8	41.1	87	74.7	37.1	83.3	97	45.6	10.3	83.8	55.5	−90.9	51.5	142	86.8	72.8	76.7	150
Net margin	7.0%	5.6%	6.5%	5.4%	5.6%	3.9%	5.0%	5.1%	5.0%	3.5%	4.7%	4.0%	4.0%	4.1%	3.3%	4.8%	-0.3%	1.7%	4.3%	3.9%	2.7%	3.1%	4.6%	3.3%	1.5%	3.2%	2.9%	-5.5%	2.7%	4.5%	3.6%	5.2%	4.1%	5.9%
EPS (₹)	0.57	0.89	0.71	0.57	0.49	0.65	0.51	0.45	0.58	0.76	0.62	0.44	0.42	0.60	0.38	0.53	-0.03	0.20	0.46	0.40	0.20	0.44	0.52	0.24	0.03	0.44	0.28	-0.55	0.27	0.76	0.46	0.42	0.41	0.81
Net profit YoY	+17.0%	+38.8%	+38.5%	+25.2%	+26.0%	+29.1%	+25.4%	+52.8%	+38.5%	+24.5%	+58.9%	−16.2%	+1696.4%	+176.5%	−17.9%	+30.9%	−113.1%	−50.7%	−10.3%	+63.7%	+260.6%	−0.6%	+74.6%	+150.2%	−80.0%	−41.2%	−36.0%	−224.9%	−32.9%	−5.3%	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Revenue from operations	12,889	12,039	10,433	8,754	7,691	6,832	8,087	9,943	6,942
Other income	307	234	234	207	194	180	206	208	154
Total expenses	12,285	11,422	9,925	8,421	7,497	6,725	7,997	9,583	6,549
EBITDA	617	624	513	340	204	119	104	365	422
EBITDA margin	4.8%	5.2%	4.9%	3.9%	2.7%	1.7%	1.3%	3.7%	6.1%
Finance costs	0	0.1	0.1	1.5	5.7	6.6	6.7	0.6	24.9
Depreciation	13.1	7.4	5.3	5.2	4.6	5.6	6.5	4.4	5.1
Profit before tax	991	755	558	371	315	287	296	569	547
Tax	249	198	144	93.9	76.8	50.9	197	177	175
Net profit	742	557	414	278	238	236	99.9	392	372
Net margin	5.8%	4.6%	4.0%	3.2%	3.1%	3.5%	1.2%	3.9%	5.4%
EPS (₹)	2.67	2.00	2.23	1.48	1.25	1.23	0.43	2.08	1.97
Net profit YoY	+33.2%	+34.5%	+49.1%	+16.8%	+0.7%	+136.6%	−74.5%	+5.2%	–

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	439	657	73.1	−440	79.9
Investing cash flow	250	573	−218	339	33.3
Financing cash flow	−201	−269	−103	−90.3	−94.7
Capital expenditure	37.4	320	16.4	11.2	6.5
Free cash flow (CFO − capex)	402	337	56.7	−452	73.4

Net profit trend

annual, ₹ crore

FY21

₹236

FY22

₹238+1%

FY23

₹278+17%

FY24

₹414+49%

FY25

₹557+35%

FY26

₹742+33%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	11 Aug 2026	PDF on NSE XBRL
Q1 FY27	Standalone	11 Aug 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	25 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	25 May 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	13 Feb 2026	PDF XBRL
Q3 FY26	Standalone	13 Feb 2026	PDF XBRL
Q2 FY26	Consolidated	13 Nov 2025	PDF XBRL
Q2 FY26	Standalone	13 Nov 2025	PDF XBRL
Q1 FY26	Consolidated	7 Aug 2025	PDF XBRL
Q1 FY26	Standalone	7 Aug 2025	PDF XBRL

Annual reports

NSE archive

FY2612.23 MB FY2512.67 MB FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 35.6×29.2×

P/B5Y avg 7.72×7.41×

ROEFY26, on average equity27.0%

Net margin5.8%

Debt / equity0.00×

Revenue CAGR (3Y)13.8%

Profit CAGR (3Y)38.7%

EPS (TTM)₹2.83

Market cap₹22,372 Cr

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

P/B vs history

7.41×

vs 8-point avg 7.72× (−4%)

3.13× low7.72× avg13.80× high

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

Balance sheet 31 Mar 2026

Total assets₹16,274 Cr+19%

Net worth₹3,017 Cr+22%

Total borrowings₹0 Cr

Cash & bank balances₹3,487 Cr+16%

Investments₹0 Cr−100%

Inventories₹1,194 Cr+23%

Trade receivables₹5,092 Cr+66%

Trade payables₹6,355 Cr+34%

Change vs the same date a year earlier.

Revenue mix FY26

PMC96.3%result ₹791 Cr

EPC3.0%result ₹27.9 Cr

Real Estate0.8%result ₹106 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	Oct 24	Sept 24	Jun 24	Mar 24	Dec 23
Promoter	61.75	61.75	61.75	61.75	61.75	61.75	61.75	61.75	61.75	61.75	61.75	61.75
FII	4.77	4.99	5.19	5.33	4.99	4.20	4.16	4.05	4.11	4.42	4.33	4.45
DII	11.27	10.75	12.25	10.96	11.22	8.92	8.94	9.15	9.10	9.48	9.94	10.44
of which MF	6.30	5.84	7.30	5.90	5.71	–	–	–	–	–	–	–
Retail	19.14	19.84	18.34	19.65	19.53	22.79	22.88	22.61	22.66	21.55	21.69	19.43
Other public	3.07	2.67	2.47	2.31	2.51	2.34	2.27	2.44	2.38	2.80	2.29	3.93

12,26,689 shareholders · NSE shareholding pattern filings.