Quarterly results
consolidated · 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 | Q4 FY19 | Q4 FY17 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 50,741 | 49,688 | 45,846 | 44,786 | 47,065 | 49,834 | 45,053 | 44,696 | 48,521 | 47,622 | 42,820 | 44,983 | 43,075 | 44,253 | 44,602 | 44,175 | 43,177 | 37,085 | 33,293 | 32,404 | 29,888 | 30,103 | 27,526 | 27,708 | 26,195 | 30,201 | 25,412 | 24,460 | 0 | 0 |
| Other income | 401 | 723 | 459 | 476 | 756 | 1,251 | 545 | 501 | 461 | 1,194 | 754 | 401 | 315 | 493 | 387 | 506 | 384 | 639 | 491 | 692 | 503 | 1,585 | 861 | 970 | 600 | 1,114 | 541 | 815 | 0 | 0 |
| Total expenses | 43,130 | 43,238 | 39,533 | 40,218 | 42,540 | 43,391 | 38,468 | 40,877 | 41,844 | 40,653 | 38,782 | 39,261 | 36,964 | 39,019 | 37,008 | 40,001 | 38,399 | 31,888 | 27,965 | 28,950 | 26,691 | 27,870 | 24,283 | 24,430 | 22,649 | 26,685 | 22,409 | 21,727 | 0 | 0 |
| EBITDA | 16,231 | 15,320 | 14,570 | 12,816 | 12,580 | 14,754 | 13,667 | 11,655 | 14,017 | 14,195 | 11,362 | 12,680 | 12,855 | 11,942 | 14,478 | 10,929 | 10,796 | 11,426 | 11,012 | 8,980 | 8,862 | 7,773 | 8,741 | 8,512 | 8,948 | 8,341 | 7,593 | 6,823 | 0 | 0 |
| EBITDA margin | 32.0% | 30.8% | 31.8% | 28.6% | 26.7% | 29.6% | 30.3% | 26.1% | 28.9% | 29.8% | 26.5% | 28.2% | 29.8% | 27.0% | 32.5% | 24.7% | 25.0% | 30.8% | 33.1% | 27.7% | 29.7% | 25.8% | 31.8% | 30.7% | 34.2% | 27.6% | 29.9% | 27.9% | – | – |
| Finance costs | 3,386 | 3,737 | 3,164 | 3,432 | 3,468 | 3,648 | 2,764 | 3,621 | 3,136 | 2,955 | 3,250 | 2,921 | 2,922 | 2,860 | 3,168 | 3,068 | 2,477 | 2,408 | 2,232 | 2,212 | 2,465 | 2,083 | 2,457 | 2,219 | 2,465 | 2,211 | 2,048 | 1,805 | 0 | 0 |
| Depreciation | 5,234 | 5,134 | 5,093 | 4,816 | 4,587 | 4,663 | 4,318 | 4,216 | 4,204 | 4,271 | 4,074 | 4,038 | 3,821 | 3,848 | 3,715 | 3,687 | 3,542 | 3,821 | 3,452 | 3,314 | 3,201 | 3,457 | 3,042 | 3,015 | 2,937 | 2,613 | 2,542 | 2,286 | 0 | 0 |
| Profit before tax | 8,011 | 7,173 | 6,772 | 5,044 | 5,281 | 7,694 | 7,130 | 4,321 | 7,138 | 8,164 | 4,792 | 6,123 | 6,426 | 5,727 | 7,982 | 4,681 | 5,161 | 5,836 | 5,819 | 4,146 | 3,699 | 3,814 | 4,102 | 3,578 | 3,309 | 4,630 | 3,544 | 3,547 | 0 | 0 |
| Tax | 2,263 | −9,062 | 2,453 | 2,076 | 1,657 | 2,726 | 2,075 | 1,666 | 1,778 | 1,674 | 1,362 | 2,020 | 1,754 | 1,447 | 1,829 | 1,991 | 1,530 | 1,025 | 1,463 | 1,281 | 1,278 | −961 | 1,354 | 641 | 1,387 | 4,948 | 2,028 | 1,130 | 0 | 0 |
| Net profit | 6,896 | 10,615 | 5,597 | 5,225 | 6,108 | 7,897 | 5,170 | 5,380 | 5,506 | 6,490 | 5,209 | 4,726 | 4,907 | 4,872 | 4,854 | 3,418 | 3,978 | 5,200 | 4,626 | 3,691 | 3,444 | 4,649 | 3,876 | 3,495 | 2,949 | 1,524 | 3,198 | 3,409 | 0 | 0 |
| Net margin | 13.6% | 21.4% | 12.2% | 11.7% | 13.0% | 15.8% | 11.5% | 12.0% | 11.3% | 13.6% | 12.2% | 10.5% | 11.4% | 11.0% | 10.9% | 7.7% | 9.2% | 14.0% | 13.9% | 11.4% | 11.5% | 15.4% | 14.1% | 12.6% | 11.3% | 5.0% | 12.6% | 13.9% | – | – |
| EPS (₹) | 6.93 | 10.81 | 5.66 | 5.23 | 6.20 | 7.85 | 5.22 | 5.44 | 5.65 | 6.36 | 5.32 | 4.76 | 5.03 | 5.01 | 4.93 | 3.44 | 4.06 | 5.33 | 4.64 | 3.71 | 3.52 | 4.68 | 3.81 | 3.47 | 2.92 | 1.46 | 3.21 | 3.43 | 0.00 | 0.00 |
| Net profit YoY | +12.9% | +34.4% | +8.3% | −2.9% | +10.9% | +21.7% | −0.8% | +13.8% | +12.2% | +33.2% | +7.3% | +38.3% | +23.4% | −6.3% | +4.9% | −7.4% | +15.5% | +11.8% | +19.3% | +5.6% | +16.8% | +205.1% | +21.2% | +2.5% | – | – | – | – | – | – |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY17 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 1,87,385 | 1,88,138 | 1,78,501 | 1,76,207 | 1,32,669 | 1,11,531 | 1,09,464 | 95,742 | 0 |
| Other income | 2,414 | 2,724 | 2,665 | 1,770 | 2,325 | 4,016 | 2,909 | 1,795 | 0 |
| Total expenses | 1,65,529 | 1,64,580 | 1,55,660 | 1,54,426 | 1,15,494 | 99,232 | 96,400 | 84,581 | 0 |
| EBITDA | 55,286 | 54,128 | 51,093 | 47,729 | 40,280 | 33,974 | 31,537 | 24,110 | 0 |
| EBITDA margin | 29.5% | 28.8% | 28.6% | 27.1% | 30.4% | 30.5% | 28.8% | 25.2% | – |
| Finance costs | 13,801 | 13,168 | 12,048 | 11,156 | 9,316 | 9,224 | 8,117 | 5,261 | 0 |
| Depreciation | 19,629 | 17,401 | 16,204 | 14,792 | 13,788 | 12,450 | 10,356 | 7,688 | 0 |
| Profit before tax | 24,269 | 26,283 | 25,506 | 23,551 | 19,501 | 14,803 | 15,972 | 12,956 | 0 |
| Tax | −2,876 | 8,245 | 6,809 | 6,796 | 5,047 | 2,421 | 9,348 | −3,206 | 0 |
| Net profit | 27,546 | 23,953 | 21,332 | 17,121 | 16,960 | 14,969 | 11,902 | 12,633 | 0 |
| Net margin | 14.7% | 12.7% | 12.0% | 9.7% | 12.8% | 13.4% | 10.9% | 13.2% | – |
| EPS (₹) | 27.90 | 24.16 | 21.46 | 17.44 | 17.20 | 14.87 | 11.72 | 12.77 | 0.00 |
| Net profit YoY | +15.0% | +12.3% | +24.6% | +0.9% | +13.3% | +25.8% | −5.8% | – | – |
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 | 50,902 | 50,436 | 40,785 | 40,052 | 41,788 |
| Investing cash flow | −37,578 | −45,800 | −32,141 | −26,107 | −22,838 |
| Financing cash flow | −11,328 | −4,073 | −8,246 | −14,154 | −19,172 |
| Capital expenditure | 44,050 | 41,283 | 30,816 | 24,819 | 24,444 |
| Free cash flow (CFO − capex) | 6,852 | 9,153 | 9,969 | 15,233 | 17,344 |
Net profit trend
annual, ₹ croreFY21
₹14,969
FY22
₹16,960+13%
FY23
₹17,121+1%
FY24
₹21,332+25%
FY25
₹23,953+12%
FY26
₹27,546+15%
Result filings
as filed with NSE · PDF and XBRL| Period | Basis | Filed | Documents |
|---|---|---|---|
| Q1 FY27 | Consolidated | 24 Jul 2026 | PDF on NSE XBRL |
| Q1 FY27 | Standalone | 24 Jul 2026 | PDF on NSE XBRL |
| Q4 FY26 | Consolidated · audited | 23 May 2026 | PDF on NSE XBRL |
| Q4 FY26 | Standalone · audited | 23 May 2026 | PDF on NSE XBRL |
| Q3 FY26 | Consolidated | 30 Jan 2026 | PDF on NSE XBRL |
| Q3 FY26 | Standalone | 30 Jan 2026 | PDF on NSE XBRL |
| Q2 FY26 | Consolidated | 30 Oct 2025 | PDF XBRL |
| Q2 FY26 | Standalone | 30 Oct 2025 | PDF XBRL |
| Q1 FY26 | Consolidated | 29 Jul 2025 | PDF XBRL |
| Q1 FY26 | Standalone | 29 Jul 2025 | PDF on NSE XBRL |
Annual reports
NSE archiveKey ratios
P/E (TTM)5Y avg 13.2×11.2×
P/B5Y avg 1.72×1.56×
ROEFY26, on average equity14.2%
Net margin14.7%
Debt / equity1.32×
Revenue CAGR (3Y)2.1%
Profit CAGR (3Y)17.2%
EPS (TTM)₹29.22
Market cap₹3.17L Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
1.56×
vs 8-point avg 1.72× (−9%)
1.09× low1.72× avg2.55× high
History points are balance-sheet dates (2022 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹5.59L Cr+7%
Net worth₹2.03L Cr+10%
Total borrowings₹2.67L Cr+8%
Cash & bank balances₹3,422 Cr+140%
Investments₹625 Cr−8%
Inventories₹18,663 Cr−0%
Trade receivables₹36,616 Cr+5%
Trade payables₹11,787 Cr+6%
Change vs the same date a year earlier.
Revenue mix FY26
Generation90.4%result ₹40,437 Cr
Others9.6%result ₹1,234 Cr
Segment revenue as reported, before inter-segment eliminations.