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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	210	225	220	214	218	229	206	202	195	210	204	205	207	206	169	130	129	153	122	114	108	124	124	137	128	138	130	128	124	127	123	121	113	111
Other income	17.8	14.9	15.1	16.2	18	16.6	15.6	19	15.1	14.2	12	11.9	12.8	9.7	9.3	8.8	6.2	6.4	8	9.5	10.8	7.2	10.3	9.1	13	10.3	9	11.4	6.5	6.3	7.4	6.8	6.9	7.5
Total expenses	208	195	192	194	187	158	176	175	171	156	160	157	148	127	127	124	120	133	120	113	110	95.9	101	107	94.9	110	111	111	109	109	107	104	96.1	97.1
EBITDA	8	35	33.2	23.4	34	74.5	33.2	31.7	28.9	58.2	47.7	51.9	62.6	82.7	47.9	11.5	14.7	24.9	5.6	4.9	1.7	31.8	26.5	33.7	37.3	31.5	23.6	20.9	18.2	20.1	20.8	19.9	18.4	15.8
EBITDA margin	3.8%	15.6%	15.1%	11.0%	15.6%	32.5%	16.1%	15.7%	14.8%	27.7%	23.3%	25.3%	30.3%	40.1%	28.3%	8.8%	11.4%	16.3%	4.6%	4.3%	1.6%	25.6%	21.4%	24.6%	29.1%	22.8%	18.1%	16.3%	14.7%	15.8%	16.9%	16.4%	16.4%	14.3%
Finance costs	0.4	0.3	0.5	0.3	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.3	0.3	0.3	0.3	0.3	0.2	0.2	0.2	0.2	0.3	0.3	0.4	0.3	0.3	0.3	0.3	0.3	0.3	0.1	0.1	0.1	0.1	0.1
Depreciation	5.1	4.9	4.3	3.8	3.4	3.4	3.6	3.9	3.9	3.8	3.5	3.6	3.6	3.6	4.9	5	5.2	5.1	3.9	3.2	3.1	3.2	3.5	3.6	3.6	3.4	3.9	3.2	3	1.9	4.4	1.9	1.7	1.7
Profit before tax	30.1	41.5	24.7	35.4	48.3	87.5	45	46.6	39.9	68.4	55.9	59.9	71.5	88.6	52	15	15.5	26	9.4	11	9.1	35.5	33	38.9	46.4	38.1	28.5	28.8	21.4	24.4	23.7	24.7	23.5	21.5
Tax	6.2	7	4	9.1	13.1	22.8	10	13.5	9.7	16.3	14.6	15.3	18	21	13.7	3.9	4.7	7.7	1.4	2.4	3.1	8.2	8.1	9.5	10.1	10	5.3	7.7	4.9	7.3	3	5.5	5.9	4.2
Net profit	23.9	34.6	20.7	26.3	35.2	64.8	35	33.1	30.2	52.1	41.3	44.6	53.6	67.7	38.3	11	10.8	18.3	8	8.6	6	27.4	24.8	29.5	36.3	28.1	23.2	21.1	16.6	17.1	20.7	19.1	17.6	17.3
Net margin	11.3%	15.4%	9.4%	12.3%	16.2%	28.3%	17.0%	16.4%	15.5%	24.8%	20.2%	21.7%	25.9%	32.8%	22.6%	8.5%	8.4%	12.0%	6.6%	7.5%	5.5%	22.0%	20.0%	21.5%	28.3%	20.4%	17.8%	16.4%	13.4%	13.4%	16.9%	15.8%	15.6%	15.5%
EPS (₹)	9.07	13.12	7.86	9.99	13.37	24.60	13.28	12.35	11.28	19.48	15.43	16.65	20.00	25.27	14.32	4.12	4.02	6.67	2.77	2.95	2.07	9.42	8.55	10.14	12.51	9.69	7.99	7.26	5.71	5.88	7.14	6.59	6.06	5.94
Net profit YoY	−32.2%	−46.7%	−40.8%	−20.5%	+16.6%	+24.2%	−15.3%	−25.9%	−43.6%	−22.9%	+7.7%	+304.3%	+397.3%	+269.9%	+376.9%	+28.6%	+79.5%	−33.1%	−67.6%	−70.9%	−83.5%	−2.8%	+7.0%	+39.6%	+119.3%	+64.8%	+11.9%	+10.2%	−5.8%	−1.0%	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Revenue from operations	876	832	826	634	497	514	521	484	412
Other income	64.2	66.3	50.9	34.1	34.7	39.6	37.2	27.5	28.7
Total expenses	768	679	622	497	476	399	441	415	361
EBITDA	126	168	220	157	37	129	94.2	79.3	58.7
EBITDA margin	14.3%	20.2%	26.7%	24.7%	7.4%	25.2%	18.1%	16.4%	14.3%
Finance costs	1.4	0.8	1	1	0.8	1.2	1.1	0.5	0.5
Depreciation	16.5	14.8	14.6	18.7	15.4	13.9	13.6	9.9	7
Profit before tax	150	219	256	171	55.5	154	117	96.3	79.9
Tax	33.1	56.1	64.2	43.3	14.6	35.9	27.8	21.8	17.3
Net profit	117	163	192	128	40.9	118	89	74.5	62.6
Net margin	13.3%	19.6%	23.2%	20.1%	8.2%	23.0%	17.1%	15.4%	15.2%
EPS (₹)	44.35	61.40	71.56	47.73	14.28	40.62	30.64	25.67	20.47
Net profit YoY	−28.4%	−14.9%	+49.9%	+212.4%	−65.3%	+32.5%	+19.4%	+19.2%	–

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	117	151	222	49.8	57.7
Investing cash flow	−52.6	−20.8	−197	−12.7	159
Financing cash flow	−36.5	−126	−30.2	−22.7	−213
Capital expenditure	28.4	15.2	28.6	3.7	24.2
Free cash flow (CFO − capex)	89.1	136	193	46.1	33.4

Net profit trend

annual, ₹ crore

FY21

₹118

FY22

₹40.9−65%

FY23

₹128+212%

FY24

₹192+50%

FY25

₹163−15%

FY26

₹117−28%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	30 Jul 2026	PDF on NSE XBRL
Q1 FY27	Standalone · audited	30 Jul 2026	PDF on NSE XBRL
Q4 FY26	Consolidated	21 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	21 May 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	10 Feb 2026	PDF on NSE XBRL
Q3 FY26	Standalone · audited	10 Feb 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	8 Nov 2025	PDF on NSE XBRL
Q2 FY26	Standalone · audited	8 Nov 2025	PDF on NSE XBRL
Q1 FY26	Consolidated	31 Jul 2025	PDF on NSE XBRL
Q1 FY26	Standalone · audited	31 Jul 2025	PDF on NSE XBRL

Annual reports

NSE archive

FY2620.84 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 14.7×17.0×

P/B5Y avg 3.13×1.97×

ROEFY26, on average equity13.6%

Net margin13.3%

Debt / equity0.00×

Revenue CAGR (3Y)11.4%

Profit CAGR (3Y)-3.0%

EPS (TTM)₹40.03

Market cap₹1,789 Cr

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

P/B vs history

1.97×

vs 8-point avg 3.13× (−37%)

1.97× low3.13× avg4.57× high

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

Balance sheet 31 Mar 2026

Total assets₹1,266 Cr+10%

Net worth₹907 Cr+11%

Total borrowings₹0 Cr

Cash & bank balances₹80 Cr+59%

Investments₹644 Cr+0%

Inventories₹0 Cr

Trade receivables₹121 Cr−12%

Trade payables₹18 Cr+41%

Change vs the same date a year earlier.

Revenue mix FY26

India58.3%result ₹277 Cr

South East Asia11.5%result ₹−26.3 Cr

Middle East11.4%result ₹13.6 Cr

Others7.3%result ₹26.7 Cr

Europe4.5%result ₹15.7 Cr

Far East3.6%result ₹5.4 Cr

Australia2.2%result ₹5.3 Cr

Africa1.1%result ₹2.8 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	73.60	73.60	73.60	73.60	73.60	73.60	73.60	73.60	73.27	73.27	73.27	73.27
FII	3.32	4.47	4.91	5.18	5.32	4.83	5.32	5.62	5.35	5.66	5.02	3.69
DII	1.48	1.21	1.38	1.49	1.48	1.50	1.79	1.75	2.10	1.90	1.66	0.59
of which MF	1.07	1.07	1.18	1.33	1.35	–	–	–	–	–	–	–
Retail	18.33	17.56	16.98	16.93	16.83	17.35	16.72	16.50	16.05	16.13	16.87	18.73
Other public	3.27	3.16	3.13	2.80	2.77	2.72	2.57	2.53	3.23	3.04	3.18	3.72

40,028 shareholders · NSE shareholding pattern filings.