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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	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	945	945	1,013	1,008	852	918	885	871	758	790	801	798	750	801	736	665	691	562	532	438	434	474	498	436	535	633	640	630	672	601	573	549	518
Other income	1.4	18.9	8.9	18	7.6	13.1	6	7.1	5.5	7.6	5.8	5.6	6.1	9.1	4.5	0.3	16.6	10.5	3.9	3.1	6.8	3	2.2	1.5	0.9	0.8	3.1	2.8	6.3	0.7	1.5	1.8	4.3
Total expenses	917	924	983	975	830	899	853	843	737	784	774	779	741	794	730	655	694	1,175	505	418	440	463	481	430	518	599	606	595	646	563	536	513	485
EBITDA	68.3	59.4	68.3	71.2	57.9	62	73.5	69.2	55.8	36.5	62.8	52.8	40.4	37.3	33.5	37.9	24.1	−585	53	44.9	18.4	35.1	41.5	29.7	40	58.8	55.5	56.9	43.7	62	58.1	59.7	55.1
EBITDA margin	7.2%	6.3%	6.7%	7.1%	6.8%	6.8%	8.3%	7.9%	7.4%	4.6%	7.8%	6.6%	5.4%	4.7%	4.6%	5.7%	3.5%	-104.1%	10.0%	10.2%	4.2%	7.4%	8.3%	6.8%	7.5%	9.3%	8.7%	9.0%	6.5%	10.3%	10.1%	10.9%	10.6%
Finance costs	21.9	20.5	20.8	20	20	25.2	25.8	22.6	18.9	16	20.5	18.5	16.6	12.2	15.1	14.1	13.7	13.3	12.6	11.3	12.1	11.6	11.1	11	8.9	11.3	8.6	9.3	7.8	10.2	7.6	10.3	9.6
Depreciation	18.5	17.5	18.1	18.8	16.3	17.4	16.1	18.1	15.6	14.6	15.4	15.5	14.8	17.7	12.3	13.8	13.5	14.2	12.9	13.2	12.4	12.7	13.4	13.2	13.7	13.6	13	13.3	9.4	13.9	13.4	13.6	12.5
Profit before tax	29.3	40.1	32.6	50.5	29.2	32.6	37.7	35.6	26.8	13.5	32.8	24.4	15.2	16.5	10.6	10.3	13.6	−602	31.5	23.5	0.7	13.9	19.2	7	18.3	34.7	36.9	37.1	32.8	38.7	38.6	37.7	37.4
Tax	7.2	7.9	3	4.8	1.6	6.3	1.6	6.4	−0.5	3.7	−1.4	−0.8	−6.2	−5.9	1.4	−1.1	3.4	−10.6	8.7	6	10.3	2.6	3.3	3.7	8.2	7.1	8.4	9.6	1.6	7.9	8.2	9.4	11.2
Net profit	22.1	32.2	29.6	45.7	27.6	26.2	36.1	29.2	27.3	9.8	34.2	25.2	21.4	22.4	9.3	11.4	10.2	−592	22.8	17.5	−9.6	11.2	15.9	3.2	10.1	27.6	28.5	27.5	31.3	30.7	30.4	28.3	26.2
Net margin	2.3%	3.4%	2.9%	4.5%	3.2%	2.9%	4.1%	3.4%	3.6%	1.2%	4.3%	3.2%	2.9%	2.8%	1.3%	1.7%	1.5%	-105.2%	4.3%	4.0%	-2.2%	2.4%	3.2%	0.7%	1.9%	4.4%	4.5%	4.4%	4.7%	5.1%	5.3%	5.1%	5.0%
EPS (₹)	1.76	2.58	2.37	3.83	2.31	2.20	3.03	2.45	2.29	0.84	2.91	2.15	1.83	1.91	0.86	1.20	1.10	-62.16	2.39	1.94	-1.15	1.34	1.89	0.39	1.24	3.29	3.39	3.28	3.73	3.66	3.63	3.37	3.12
Net profit YoY	−20.1%	+23.0%	−18.0%	+56.3%	+1.0%	+167.1%	+5.6%	+16.0%	+27.5%	−56.1%	+268.8%	+121.1%	+109.0%	+103.8%	–	−50.0%	−41.5%	−6037.0%	+43.3%	+440.9%	−195.4%	−59.3%	−44.2%	−88.2%	−67.7%	−10.3%	−6.4%	−2.7%	+19.6%	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Revenue from operations	3,818	3,432	3,139	2,893	2,072	1,842	2,438	2,396	1,955
Other income	53.5	40.3	25.2	30.6	21	13.5	7.6	10.3	12
Total expenses	3,713	3,340	3,078	2,872	2,615	1,815	2,319	2,258	1,848
EBITDA	257	253	197	133	−438	125	211	223	193
EBITDA margin	6.7%	7.4%	6.3%	4.6%	-21.2%	6.8%	8.7%	9.3%	9.9%
Finance costs	81.4	93.1	76.2	55.2	51	45.8	38.1	35.8	35.7
Depreciation	70.7	67.2	60.3	57.3	53.8	51.8	53.6	50.2	50.6
Profit before tax	152	133	85.9	51.1	−522	40.7	127	148	119
Tax	17.3	13.8	−4.7	−2.2	10.4	20	33.3	27.1	31.9
Net profit	135	119	90.6	53.3	−532	20.7	93.7	121	87.1
Net margin	3.5%	3.5%	2.9%	1.8%	-25.7%	1.1%	3.8%	5.0%	4.5%
EPS (₹)	11.06	9.97	7.71	4.92	-56.91	2.47	11.16	14.39	10.38
Net profit YoY	+13.7%	+31.1%	+70.1%	+110.0%	−2671.8%	−77.9%	−22.4%	+38.7%	–

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	149	212	99.1	−194	−149
Investing cash flow	−98	−132	−52.9	−89.4	−26
Financing cash flow	−60.1	−78.4	−49.4	218	248
Capital expenditure	106	124	61.2	60.7	35.6
Free cash flow (CFO − capex)	43.3	88.2	37.9	−255	−185

Net profit trend

annual, ₹ crore

FY21

₹20.7

FY22

₹−532−2672%

FY23

₹53.3+110%

FY24

₹90.6+70%

FY25

₹119+31%

FY26

₹135+14%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	6 Aug 2026	PDF on NSE XBRL
Q1 FY27	Standalone	6 Aug 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	7 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	7 May 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	4 Feb 2026	PDF on NSE XBRL
Q3 FY26	Standalone	4 Feb 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	–	PDF on NSE XBRL
Q2 FY26	Consolidated	12 Nov 2025	PDF on NSE XBRL
Q2 FY26	Standalone	–	PDF on NSE XBRL
Q2 FY26	Standalone	12 Nov 2025	PDF on NSE XBRL

Annual reports

NSE archive

FY2611.40 MB FY2512.19 MB FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 19.5×26.0×

P/B5Y avg 2.24×2.67×

ROEFY26, on average equity11.8%

Net margin3.5%

Debt / equity0.43×

Revenue CAGR (3Y)9.7%

Profit CAGR (3Y)36.4%

EPS (TTM)₹10.36

Market cap₹3,362 Cr

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

P/B vs history

2.67×

vs 8-point avg 2.24× (+19%)

1.13× low2.24× avg3.13× high

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

Balance sheet 31 Mar 2026

Total assets₹2,281 Cr+12%

Net worth₹1,259 Cr+23%

Total borrowings₹540 Cr−12%

Cash & bank balances₹3 Cr−72%

Investments₹5 Cr+0%

Inventories₹730 Cr+26%

Trade receivables₹245 Cr−6%

Trade payables₹267 Cr+4%

Change vs the same date a year earlier.

Shareholding 30 Jun 2026

%	Jun 26	Mar 26	Dec 25	Sept 25	Sept 25	Jun 25	Mar 25	Dec 24	Sept 24	Jun 24	Mar 24	Mar 24
Promoter	40.49	40.65	40.65	42.61	40.65	42.61	42.61	42.61	42.61	42.61	42.61	42.61
FII	7.46	8.77	9.25	9.91	13.99	9.23	8.46	8.20	10.08	8.51	8.95	8.93
DII	5.80	5.25	6.16	6.62	6.32	6.87	6.92	7.07	7.12	8.61	8.64	8.64
Retail	29.05	28.46	27.32	28.44	27.21	29.44	29.57	29.37	28.85	28.82	24.77	24.06
Other public	16.72	16.79	16.53	12.28	11.69	11.71	12.30	12.61	11.20	11.31	14.89	15.62

88,951 shareholders · NSE shareholding pattern filings.