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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	Q4 FY18
Revenue from operations	883	485	430	418	435	449	472	477	493	490	482	274	282	340	327	301	206	195	133	96	48.3	95.3	41.6	47.3	22.6	42.1	89.2	140	102	0	0
Other income	10.9	18.3	2.6	2.2	2.8	9.6	−0.2	2.8	5	11.6	2.8	2.8	1.2	34.1	2.9	8	9	27.1	1.5	2.6	4.8	88.8	3.8	8.1	1.4	9.5	0.5	0.2	0.8	0	0
Total expenses	865	490	414	395	420	438	452	462	483	470	465	267	273	347	315	297	209	218	137	96.7	50.5	174	42.9	55.5	32.3	87.1	102	151	119	0	0
EBITDA	30.4	7.1	30.2	33.6	26.8	23.2	33.8	28.9	22.6	29	22.9	13.4	13.4	−0.9	16.2	10	−0.5	−17	−1.9	1.2	−1.3	−76.4	5.9	−0.5	−1.8	−34.9	−2.7	−2.1	−8.6	0	0
EBITDA margin	3.4%	1.5%	7.0%	8.0%	6.1%	5.2%	7.2%	6.1%	4.6%	5.9%	4.7%	4.9%	4.8%	-0.3%	4.9%	3.3%	-0.2%	-8.7%	-1.4%	1.2%	-2.7%	-80.2%	14.2%	-1.0%	-7.8%	-82.9%	-3.0%	-1.5%	-8.4%	–	–
Finance costs	6.2	6.6	6.3	4.8	5.4	7.2	8.3	7.8	6.8	2.9	1.7	2.1	1.3	1.6	2	1.2	1.1	2.2	0.9	1.1	0.9	1.4	5.5	6	6.1	6	6.8	6.5	5.9	0	0
Depreciation	6.6	5.1	7.5	6	5.7	4.2	5.8	6.6	5.8	5.7	4	4.1	3.9	3.7	2.7	5	1.5	4.4	1.1	0.8	0	1	1.7	1.8	1.8	4.1	2.9	2.7	2.9	0	0
Profit before tax	28.5	13.7	19	25	18.5	21.4	19.6	17.3	15.1	32.1	20	10.1	9.4	27.9	14.4	11.8	6	4.1	−3	1.9	2.6	10.1	2.5	−0.2	−8.3	−35.5	−11.9	−11	−16.7	0	0
Tax	7.1	5.1	7.1	8.1	4.3	−1.4	5.6	6.2	3	11.7	1.2	3.9	2.6	6.5	0.5	3.1	1.2	3.1	1	−1	0.6	8.1	−0.7	−1.8	−0.1	4.2	−1.4	−3.6	−5.2	0	0
Net profit	21.2	22.5	12.2	16.8	14.5	22.5	15	13.7	12.1	24	17.9	5.4	9.4	17.2	12.6	7.1	5	2.8	−4.5	2.1	0.6	101	3.4	0.1	−9.9	−44.8	−11.9	−14.7	−13.5	0	0
Net margin	2.4%	4.6%	2.8%	4.0%	3.3%	5.0%	3.2%	2.9%	2.5%	4.9%	3.7%	2.0%	3.3%	5.1%	3.8%	2.4%	2.4%	1.5%	-3.4%	2.2%	1.2%	106.0%	8.2%	0.1%	-43.9%	-106.3%	-13.4%	-10.5%	-13.2%	–	–
EPS (₹)	2.39	2.56	1.39	1.92	1.67	2.61	1.75	1.60	1.42	2.82	2.07	0.63	1.09	2.01	1.46	0.83	0.58	0.33	-0.51	0.23	0.07	1.54	0.36	0.02	-1.16	-5.15	-1.39	-1.69	-1.58	0.00	0.00
Net profit YoY	+45.8%	+0.1%	−18.5%	+22.2%	+19.7%	−6.6%	−16.3%	+154.4%	+29.2%	+39.6%	+42.6%	−24.0%	+88.6%	+508.6%	+380.7%	+242.9%	+789.1%	−97.2%	−231.0%	+4040.0%	+105.6%	+325.7%	+128.7%	+100.3%	+26.4%	–	–	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Revenue from operations	1,769	1,890	1,528	1,174	472	182	373	1,196	723
Other income	25.9	17.3	18.4	54	35.9	102	10.9	63.1	16.1
Total expenses	1,718	1,834	1,475	1,168	502	290	459	1,297	719
EBITDA	97.7	108	78.7	24.8	−18.9	−98	−48.2	−41.8	52.9
EBITDA margin	5.5%	5.7%	5.2%	2.1%	-4.0%	-54.0%	-12.9%	-3.5%	7.3%
Finance costs	23.1	30	8	5.8	5.1	6.4	25.2	42.4	33.2
Depreciation	24.3	22.4	17.6	13	6.3	4.6	12.6	17.2	15.9
Profit before tax	76.2	73.3	71.5	60.1	5.6	−6.8	−75.2	−38.2	20
Tax	24.7	13.3	19.3	11.3	5.6	2.4	−6	1.1	6.9
Net profit	66	63.3	56.8	41.9	−0.9	94.6	−84.8	−59.4	13.9
Net margin	3.7%	3.4%	3.7%	3.6%	-0.2%	52.1%	-22.8%	-5.0%	1.9%
EPS (₹)	7.52	7.37	6.62	4.88	-0.10	-0.15	-9.81	-7.21	1.61
Net profit YoY	+4.2%	+11.6%	+35.5%	+4602.8%	−101.0%	+211.5%	−42.8%	−528.0%	–

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	−12.1	−12.5	40.3	1.2	27.7
Investing cash flow	−295	−50.5	−50.6	−82.1	23.9
Financing cash flow	195	178	25.3	69.9	−64.3
Capital expenditure	312	38.9	61.8	36.2	0
Free cash flow (CFO − capex)	−324	−51.5	−21.5	−35	27.7

Net profit trend

annual, ₹ crore

FY21

₹94.6

FY22

₹−0.9−101%

FY23

₹41.9+4603%

FY24

₹56.8+36%

FY25

₹63.3+12%

FY26

₹66+4%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	4 Aug 2026	PDF on NSE XBRL
Q1 FY27	Standalone	4 Aug 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	30 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	30 May 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	13 Feb 2026	PDF on NSE XBRL
Q3 FY26	Standalone	13 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	14 Aug 2025	PDF XBRL
Q1 FY26	Standalone	14 Aug 2025	PDF XBRL

Annual reports

NSE archive

FY264.39 MB FY253.60 MB FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 45.5×92.6×

P/B5Y avg 6.96×8.66×

ROEFY26, on average equity9.2%

Net margin3.7%

Debt / equity0.39×

Revenue CAGR (3Y)14.6%

Profit CAGR (3Y)16.4%

EPS (TTM)₹8.19

Market cap₹6,727 Cr

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

P/B vs history

8.66×

vs 8-point avg 6.96× (+25%)

3.34× low6.96× avg15.98× high

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

Balance sheet 31 Mar 2026

Total assets₹1,838 Cr+19%

Net worth₹777 Cr+17%

Total borrowings₹307 Cr+137%

Cash & bank balances₹32 Cr−78%

Investments₹87 Cr+35%

Inventories₹314 Cr+29%

Trade receivables₹298 Cr−50%

Trade payables₹516 Cr−15%

Change vs the same date a year earlier.

Revenue mix FY26

b) Manufacturing Business59.7%result ₹45.7 Cr

a) Trading & distribution40.3%result ₹27.6 Cr

Segment revenue as reported, before inter-segment eliminations.

Shareholding 11 Aug 2026

%	Aug 26	Aug 26	Jul 26	Jun 26	Mar 26	Jan 26	Jan 26	Dec 25	Dec 25	Sept 25	Jul 25	Jul 25
Promoter	71.40	71.54	72.13	72.17	72.17	72.17	72.42	72.43	72.43	72.56	73.04	73.15
FII	3.31	3.21	3.29	3.25	2.86	2.72	2.61	2.61	2.50	2.43	2.21	2.24
DII	2.40	2.27	1.63	0.98	1.45	1.73	1.73	1.73	1.73	1.56	1.51	1.50
of which MF	2.28	2.17	1.55	0.89	1.36	1.40	1.41	1.41	1.41	1.40	1.40	1.38
Retail	15.46	15.72	15.84	16.35	16.20	15.99	16.10	16.09	16.13	16.10	15.96	15.82
Other public	7.43	7.26	7.11	7.25	7.32	7.39	7.14	7.14	7.21	7.35	7.28	7.29

33,157 shareholders · NSE shareholding pattern filings.