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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	Q3 FY19	Q2 FY19	Q4 FY18
Revenue from operations	1,528	1,314	1,170	1,313	1,228	1,229	1,023	1,202	1,053	877	704	961	894	730	717	860	851	896	700	681	436	525	360	451	155	518	350	436	394	455	435
Other income	10.7	10.2	7.5	8.1	11.3	5.3	5.9	12.7	9.6	14.8	2.8	7.3	7.4	5.6	3.2	7.7	6.2	17.8	3	5	7.7	8.5	6	4.6	4.4	12.6	9.3	13.5	0.3	10	27.4
Total expenses	1,417	1,228	1,119	1,242	1,163	1,160	975	1,148	995	837	672	922	844	697	674	836	812	882	681	663	441	516	372	441	187	528	352	439	368	460	439
EBITDA	164	135	96	121	112	117	91.3	96.7	98.3	81.5	65.4	77.5	83.5	62.8	73.2	52.5	67.1	39.7	42.7	39.9	18.2	31.3	9.7	30.7	−11.1	15.1	18.8	20.5	38.8	9.7	8.6
EBITDA margin	10.7%	10.2%	8.2%	9.2%	9.2%	9.5%	8.9%	8.0%	9.3%	9.3%	9.3%	8.1%	9.3%	8.6%	10.2%	6.1%	7.9%	4.4%	6.1%	5.9%	4.2%	6.0%	2.7%	6.8%	-7.2%	2.9%	5.4%	4.7%	9.8%	2.1%	2.0%
Finance costs	26.6	26.3	22.1	27.4	27.4	27.3	24.2	24.6	23.1	22.4	17.4	23.7	19.8	16.3	17.5	15.8	15.5	13.1	12.6	8.9	11.9	11.2	10.8	9.8	9.4	13	9.9	13.8	7	6.7	6.8
Depreciation	25.7	22.8	22.4	22.4	19.7	20.7	19.4	18.1	17.1	18.9	16.2	15.6	13.5	14	12.5	12	12.3	12.7	11.6	12.6	11.5	11.3	10.9	11.1	10.8	11.7	10.3	10.4	6.3	7.4	5.6
Profit before tax	120	95	58.6	79.4	76.3	77.8	53.7	62.6	73.2	54.4	34.6	45.5	57.5	55.9	44.4	32	43.5	32.1	21.3	29.9	2.5	17	7	14.3	−26.9	2.2	8.2	8.6	25.7	5.3	23.8
Tax	20.3	14.1	7	7.4	10.8	12.8	5.5	7	11.3	5.4	0.8	6.6	10.2	2.6	7	6.1	7.2	3.6	4.5	4.4	3.2	1.3	−4.5	−0.8	−2.2	3.4	2.9	1.2	11.2	2.5	11.1
Net profit	99.2	81	51.5	72	65.6	65	48.2	55.6	61.9	49	33.8	39	47.4	53.3	37.4	25.9	36.4	28.5	16.8	25.5	−0.8	15.7	11.4	15.1	−24.8	−1.1	5.3	7.4	14.6	2.8	12.7
Net margin	6.5%	6.2%	4.4%	5.5%	5.3%	5.3%	4.7%	4.6%	5.9%	5.6%	4.8%	4.1%	5.3%	7.3%	5.2%	3.0%	4.3%	3.2%	2.4%	3.7%	-0.2%	3.0%	3.2%	3.4%	-15.9%	-0.2%	1.5%	1.7%	3.7%	0.6%	2.9%
EPS (₹)	21.77	18.05	11.57	15.95	14.76	15.10	12.52	12.90	14.99	11.82	16.49	18.32	22.18	23.97	15.42	10.68	16.84	12.51	7.56	11.31	0.08	6.98	4.98	6.63	-10.63	-0.06	2.41	3.25	6.89	1.34	5.96
Net profit YoY	+51.4%	+24.6%	+6.8%	+29.4%	+5.9%	+32.6%	+42.6%	+42.8%	+30.8%	−8.1%	−9.6%	+50.5%	+30.2%	+87.1%	+122.1%	+1.4%	+4897.2%	+81.5%	+47.3%	+69.0%	+96.9%	+1478.0%	+115.3%	+104.0%	–	–	−63.6%	+160.1%	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY18
Revenue from operations	5,025	4,506	3,436	3,158	2,714	1,491	1,685	1,496
Other income	37.1	33.6	32.4	22.8	33.5	23.5	49.1	47.6
Total expenses	4,751	4,277	3,276	3,019	2,668	1,516	1,702	1,519
EBITDA	464	404	308	256	141	60.6	66.9	24.8
EBITDA margin	9.2%	9.0%	9.0%	8.1%	5.2%	4.1%	4.0%	1.7%
Finance costs	103	99.2	83.3	65.2	46.6	41.3	42	25.5
Depreciation	87.3	75.2	64.2	50.8	48.3	44.1	42	22.6
Profit before tax	309	267	192	176	85.8	11.4	31.2	32.4
Tax	39.3	36.6	22.9	22.9	15.7	−6.1	9.5	9.3
Net profit	270	231	169	153	70.1	17.5	21.7	23.1
Net margin	5.4%	5.1%	4.9%	4.8%	2.6%	1.2%	1.3%	1.5%
EPS (₹)	60.34	54.96	40.26	68.90	31.46	7.97	9.95	11.12
Net profit YoY	+17.0%	+36.5%	+10.5%	+118.2%	+301.0%	−19.5%	–	–

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	398	176	352	365	−91.5
Investing cash flow	−158	−104	−128	−25.7	−39.6
Financing cash flow	−45.9	101	−152	−200	153
Capital expenditure	187	118	124	67.8	83.2
Free cash flow (CFO − capex)	212	58.8	228	297	−175

Net profit trend

annual, ₹ crore

FY21

₹17.5

FY22

₹70.1+301%

FY23

₹153+118%

FY24

₹169+11%

FY25

₹231+36%

FY26

₹270+17%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	5 Aug 2026	PDF on NSE XBRL
Q1 FY27	Standalone	5 Aug 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	14 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	14 May 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	6 Feb 2026	PDF on NSE XBRL
Q3 FY26	Standalone	6 Feb 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	11 Nov 2025	PDF XBRL
Q2 FY26	Standalone	11 Nov 2025	PDF XBRL
Q1 FY26	Consolidated	7 Aug 2025	PDF XBRL
Q1 FY26	Standalone	7 Aug 2025	PDF XBRL

Annual reports

NSE archive

FY2620.59 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 8.8×20.2×

P/B5Y avg 1.71×4.20×

ROEFY26, on average equity20.6%

Net margin5.4%

Debt / equity0.47×

Revenue CAGR (3Y)16.7%

Profit CAGR (3Y)20.9%

EPS (TTM)₹65.81

Market cap₹6,133 Cr

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

P/B vs history

4.20×

vs 8-point avg 1.71× (+145%)

0.65× low1.71× avg4.20× high

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

Balance sheet 31 Mar 2026

Total assets₹3,245 Cr+25%

Net worth₹1,460 Cr+26%

Total borrowings₹687 Cr+25%

Cash & bank balances₹704 Cr+38%

Investments₹36 Cr+47%

Inventories₹882 Cr+25%

Trade receivables₹407 Cr+26%

Trade payables₹698 Cr+25%

Change vs the same date a year earlier.

Revenue mix FY26

Hong Kong48.1%result ₹163 Cr

Bangladesh20.7%result ₹120 Cr

India13.4%result ₹46.8 Cr

Vietnam12.0%result ₹91.1 Cr

Others5.8%result ₹−8.8 Cr

Segment revenue as reported, before inter-segment eliminations.

Shareholding 15 Sept 2026

%	Sept 26	Jun 26	Mar 26	Dec 25	Sept 25	Jun 25	Mar 25	Dec 24	Sept 24	Jul 24	Jun 24	Mar 24
Promoter	59.91	61.11	61.16	61.24	62.75	62.78	62.81	62.82	62.91	63.21	66.17	66.19
FII	6.76	6.82	6.49	6.27	6.50	6.80	7.39	5.20	4.57	4.73	5.39	5.45
DII	20.13	19.17	18.80	16.77	14.02	12.77	11.56	11.23	9.31	5.70	0.61	0.49
of which MF	19.45	18.67	18.34	16.32	13.54	12.19	–	–	–	–	–	–
Retail	10.11	9.59	9.89	11.78	12.74	13.59	14.27	16.66	18.50	21.03	22.76	22.96
Other public	3.09	3.31	3.66	3.94	3.99	4.06	3.97	4.09	4.71	5.33	5.07	4.91

42,398 shareholders · NSE shareholding pattern filings.