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Quarterly results

standalone · 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	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 FY17
Revenue from operations	203	201	204	207	196	190	194	222	203	205	204	195	181	183	182	211	177	141	131	106	148	129	100	60.3	133	153	159	159	152	140	153	145	134
Other income	15.6	−0.7	4.5	−0.9	18.6	5.1	5.4	6.3	4.1	5.1	3.5	3.1	1.8	2	1.9	2.6	1.3	0.8	1.3	2.1	2.5	1.8	1.6	2.1	1.5	1.1	1.2	1.5	0.6	0.6	1	1.2	1.4
Total expenses	174	173	180	183	167	171	172	189	170	160	164	174	168	170	167	189	162	129	119	90.7	126	107	88.7	63.8	129	139	148	152	150	134	145	139	129
EBITDA	35.6	33.5	28.2	28.1	33.7	23.9	25.5	37.7	36.9	48.8	43.8	25.6	17.8	15.8	19.2	25.6	18.6	16.3	15.4	20	25.7	25.6	16	0.8	11.4	18.2	14.7	11.5	5.6	10.2	11.6	10.1	8.3
EBITDA margin	17.5%	16.7%	13.9%	13.6%	17.1%	12.6%	13.2%	17.0%	18.2%	23.8%	21.5%	13.1%	9.8%	8.6%	10.5%	12.2%	10.5%	11.5%	11.8%	18.8%	17.4%	19.9%	15.9%	1.3%	8.5%	11.9%	9.2%	7.2%	3.7%	7.3%	7.6%	7.0%	6.2%
Finance costs	1.6	1.1	0.8	0.8	0.6	0.9	0.7	0.8	0.8	0.7	1.3	1.5	1.7	0.5	1	1.2	1	1.4	1	1.5	1.5	1.5	1.7	1.6	1.7	1.8	2.2	2	1.7	2	2.2	2	2.2
Depreciation	4.9	4.9	3.8	3.5	3.3	3.5	3.2	3.2	3.2	3.2	3.2	3.4	2.8	2.8	2.9	2.8	2.8	2.8	2.8	2.8	2.4	2.7	2.7	2.7	5.4	2.4	2.3	2.2	1.8	1.8	1.8	1.8	1.7
Profit before tax	44.7	26.8	28.1	23.1	48.3	24.7	27	40	37	50	42.9	23.6	15.1	14.4	17.1	24.3	2.5	12.8	12.9	17.8	24.4	−1.4	13.2	−1.5	5.8	15.1	11.4	8.7	2.6	7	8.5	7.5	5.8
Tax	11	7.1	7.4	6.1	12.1	5.8	7.5	10.2	9.5	12.6	11	6	3.8	3.7	4.4	6.2	0.6	3.5	3.5	3.9	3.1	−0.6	2.8	−0.7	1.9	5.2	3.8	2.9	1.4	2.1	2.8	2.7	2.2
Net profit	33.7	19.7	20.7	16.9	36.2	18.9	19.6	29.8	27.6	37.4	31.9	17.6	11.2	10.8	12.8	18.1	1.9	9.4	9.4	13.9	21.3	−0.7	10.3	−0.8	3.9	9.9	7.6	5.8	1.3	4.9	5.8	4.8	3.6
Net margin	16.6%	9.8%	10.2%	8.2%	18.4%	9.9%	10.1%	13.4%	13.6%	18.2%	15.6%	9.0%	6.2%	5.9%	7.0%	8.6%	1.1%	6.6%	7.2%	13.0%	14.4%	-0.6%	10.3%	-1.3%	2.9%	6.5%	4.8%	3.6%	0.8%	3.5%	3.8%	3.3%	2.7%
EPS (₹)	3.55	2.08	2.18	1.78	3.82	1.99	2.06	3.13	2.90	3.94	3.36	1.86	1.18	1.13	1.34	1.91	0.20	0.98	0.99	1.46	2.24	-0.08	1.09	-0.08	0.41	1.04	0.80	0.61	0.13	0.52	0.61	0.51	0.37
Net profit YoY	−7.0%	+4.6%	+5.8%	−43.1%	+31.4%	−49.6%	−38.5%	+68.7%	+145.3%	+247.9%	+149.5%	−2.5%	–	+465.8%	+36.6%	+92.4%	−91.1%	+1347.7%	−8.8%	+1826.2%	+445.3%	−107.6%	+34.8%	−114.0%	+207.3%	+101.8%	+32.9%	+19.8%	–	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY17
Revenue from operations	808	809	785	759	555	437	604	590	158
Other income	21.5	20.9	13.5	8.5	5.5	8	5.2	3.3	0.9
Total expenses	703	701	667	688	501	386	569	567	145
EBITDA	124	124	136	86.3	70.3	68	55.7	37.6	17.4
EBITDA margin	15.3%	15.3%	17.3%	11.4%	12.7%	15.6%	9.2%	6.4%	11.0%
Finance costs	3.4	3.2	5.1	3.8	4.9	6.4	7.7	8	1.9
Depreciation	15.4	13.1	12.7	11.3	11.2	10.4	12.2	7.3	2.2
Profit before tax	126	129	132	79.7	46	34.7	41.1	25.6	11.3
Tax	32.7	33	33.5	20.3	11.5	4.7	13.8	8.9	4.7
Net profit	93.6	95.8	98.1	59.4	34.5	30	27.2	16.7	6.6
Net margin	11.6%	11.8%	12.5%	7.8%	6.2%	6.9%	4.5%	2.8%	4.2%
EPS (₹)	9.86	10.09	10.34	6.26	3.64	3.16	2.87	1.76	0.70
Net profit YoY	−2.3%	−2.4%	+65.2%	+72.0%	+15.0%	+10.4%	+62.6%	–	–

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	121	82.4	133	16.4	17.4
Investing cash flow	−136	−35	−94.8	18.2	−27.9
Financing cash flow	2.2	−16.8	−42.9	−30.7	8.8
Capital expenditure	113	25.9	7.3	7.1	70.9
Free cash flow (CFO − capex)	8	56.5	125	9.4	−53.5

Net profit trend

annual, ₹ crore

FY21

₹30

FY22

₹34.5+15%

FY23

₹59.4+72%

FY24

₹98.1+65%

FY25

₹95.8−2%

FY26

₹93.6−2%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Standalone	11 Aug 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	22 May 2026	PDF on NSE XBRL
Q3 FY26	Standalone	31 Jan 2026	PDF on NSE XBRL
Q2 FY26	Standalone	10 Nov 2025	PDF on NSE XBRL
Q1 FY26	Standalone	1 Aug 2025	PDF on NSE XBRL
Q4 FY25	Standalone · audited	26 May 2025	PDF on NSE XBRL
Q3 FY25	Standalone	31 Jan 2025	PDF on NSE XBRL
Q2 FY25	Standalone	28 Oct 2024	PDF on NSE XBRL
Q1 FY25	Standalone	1 Aug 2024	PDF on NSE XBRL
Q4 FY24	Standalone · audited	27 May 2024	PDF on NSE XBRL

Annual reports

NSE archive

FY2614.04 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 7.1×9.9×

P/B5Y avg 1.32×1.34×

ROEFY26, on average equity14.9%

Net margin11.6%

Debt / equity0.03×

Revenue CAGR (3Y)2.1%

Profit CAGR (3Y)16.4%

EPS (TTM)₹9.59

Market cap₹897 Cr

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

P/B vs history

1.34×

vs 8-point avg 1.32× (+2%)

0.88× low1.32× avg1.97× high

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

Balance sheet 31 Mar 2026

Total assets₹920 Cr+21%

Net worth₹669 Cr+15%

Total borrowings₹23 Cr+149%

Cash & bank balances₹23 Cr−36%

Investments₹128 Cr−15%

Inventories₹135 Cr+4%

Trade receivables₹76 Cr+11%

Trade payables₹69 Cr+21%

Change vs the same date a year earlier.

Revenue mix FY26

Paper92.0%result ₹114 Cr

Hygine Products8.0%result ₹3 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	71.55	71.55	71.55	71.55	71.55	71.31	71.31	71.31	71.31	71.31	71.31	71.31
FII	0.91	1.01	1.02	0.97	1.14	1.50	2.41	1.90	1.62	0.43	0.44	0.65
DII	0.02	0.01	0.01	0.01	0.01	0.01	0.00	0.00	0.00	0.01	0.02	0.01
Retail	22.83	22.77	22.99	23.13	23.00	23.05	22.17	22.45	22.86	23.11	23.77	24.24
Other public	4.69	4.66	4.43	4.34	4.30	4.13	4.11	4.34	4.21	5.14	4.46	3.79

48,722 shareholders · NSE shareholding pattern filings.