Quarterly results
consolidated · 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 | 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 | Q4 FY17 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 189 | 147 | 135 | 118 | 171 | 263 | 224 | 251 | 193 | 162 | 165 | 200 | 162 | 162 | 113 | 213 | 240 | 204 | 192 | 148 | 105 | 92.1 | 81.8 | 93.8 | 27.3 | 89 | 61.8 | 117 | 126 | 145 | 120 | 110 | 88.7 |
| Other income | 6.3 | 7.7 | 7.4 | 7.4 | 2.8 | 3.5 | 10.8 | 2.2 | 4.8 | 2.8 | 2.1 | 4.7 | 2.5 | 3.7 | 0.6 | 0.8 | 0.3 | 0.9 | 0.5 | 0.6 | 0.6 | 3.5 | 0.9 | 1.3 | 0.4 | 1.3 | 0.2 | 3.1 | 1.8 | 1.7 | 1.3 | 3.4 | 1.5 |
| Total expenses | 138 | 119 | 115 | 116 | 136 | 184 | 165 | 185 | 152 | 141 | 133 | 153 | 138 | 152 | 109 | 180 | 201 | 178 | 149 | 123 | 101 | 85 | 64.6 | 66.2 | 40.1 | 72.5 | 54.5 | 86.1 | 96.5 | 110 | 88.2 | 89.8 | 77.3 |
| EBITDA | 68 | 45 | 40.7 | 23.8 | 54.9 | 101 | 77.6 | 86.1 | 61 | 41 | 51.8 | 68.5 | 46.1 | 31.6 | 24.1 | 52.8 | 58.9 | 45.1 | 61.3 | 44.9 | 22.6 | 18.6 | 27.3 | 38.3 | −2.4 | 27.1 | 18.6 | 42.8 | 40.5 | 49.9 | 43.2 | 32.6 | 23.7 |
| EBITDA margin | 35.9% | 30.6% | 30.2% | 20.1% | 32.1% | 38.5% | 34.7% | 34.3% | 31.7% | 25.4% | 31.4% | 34.3% | 28.4% | 19.6% | 21.3% | 24.7% | 24.5% | 22.1% | 32.0% | 30.2% | 21.4% | 20.2% | 33.3% | 40.8% | -8.9% | 30.4% | 30.0% | 36.6% | 32.1% | 34.5% | 36.2% | 29.6% | 26.7% |
| Finance costs | 5.2 | 5.2 | 7.9 | 9 | 7.7 | 10.4 | 8.6 | 9.3 | 8.8 | 8.9 | 9 | 11.5 | 9.9 | 11.5 | 9.7 | 9.3 | 9.5 | 8.9 | 9 | 9.7 | 8.5 | 6 | 5 | 5.3 | 4.9 | 5 | 5.6 | 5.9 | 5.6 | 5.8 | 6.3 | 6.5 | 7.5 |
| Depreciation | 11.8 | 12 | 12.4 | 12.4 | 12.1 | 11.7 | 10.6 | 10.5 | 11.4 | 11.2 | 10.8 | 9.9 | 11.5 | 10.4 | 10.6 | 10.5 | 10.3 | 10.2 | 9.5 | 9.4 | 9.4 | 5.6 | 5 | 5.3 | 5.4 | 5.5 | 5.8 | 5.9 | 5.3 | 9.8 | 5.5 | 5.6 | 4.9 |
| Profit before tax | 57.3 | 35.5 | 27.8 | 9.8 | 37.9 | 82.5 | 69.2 | 68.4 | 45.6 | 23.7 | 34.1 | 51.8 | 27.1 | 13.3 | 4.4 | 33.8 | 39.4 | 26.9 | 43.2 | 26.4 | 5.4 | 10.6 | 18.1 | 28.9 | −12.4 | 17.8 | 7.4 | 34.1 | 31.4 | 36 | 32.7 | 23.9 | 12.9 |
| Tax | 14.7 | 9.9 | 7.5 | 3.5 | 9.6 | 23.6 | 18.7 | 23.6 | 12.6 | 7.3 | 12.8 | 19.1 | 9.2 | 2.7 | 1.8 | 9.8 | 10.9 | 6.8 | 9.5 | 6 | 1.3 | 6.8 | 5.3 | 8 | −3.1 | 14.7 | 0.9 | 3.6 | 0.9 | 9.5 | 5.6 | 3.6 | −0.7 |
| Net profit | 42.6 | 25.6 | 20.4 | 6.3 | 28.3 | 58.9 | 50.6 | 45 | 33.1 | 15.5 | 21.2 | 32.7 | 17.9 | 10.7 | 2.6 | 24 | 28.5 | 20.1 | 33.8 | 20.4 | 4 | 3.8 | 12.8 | 20.9 | −9.3 | 3.2 | 6.6 | 30.5 | 30.5 | 26.5 | 26 | 19.7 | 12.4 |
| Net margin | 22.5% | 17.4% | 15.1% | 5.3% | 16.6% | 22.4% | 22.6% | 17.9% | 17.2% | 9.6% | 12.9% | 16.4% | 11.0% | 6.6% | 2.3% | 11.3% | 11.9% | 9.8% | 17.6% | 13.7% | 3.8% | 4.1% | 15.7% | 22.3% | -33.9% | 3.6% | 10.6% | 26.0% | 24.2% | 18.3% | 21.7% | 17.8% | 14.0% |
| EPS (₹) | 13.74 | 8.26 | 6.57 | 2.04 | 9.13 | 19.02 | 16.29 | 14.47 | 10.66 | 5.30 | 6.85 | 10.55 | 5.78 | 3.45 | 0.85 | 7.74 | 9.19 | 6.49 | 10.89 | 6.58 | 1.30 | 1.22 | 4.14 | 6.75 | -2.99 | 1.03 | 2.12 | 9.84 | 9.83 | 8.54 | 8.74 | 6.57 | 4.37 |
| Net profit YoY | +50.6% | −56.5% | −59.7% | −85.9% | −14.5% | +279.7% | +138.3% | +37.5% | +84.6% | +45.1% | +709.0% | +36.2% | −37.1% | −46.8% | −92.2% | +17.7% | +604.8% | +430.4% | +162.8% | −2.5% | +143.6% | +19.1% | +95.7% | −31.4% | −130.4% | −88.0% | −74.7% | +54.9% | – | – | – | – | – |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY17 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 572 | 930 | 688 | 728 | 650 | 295 | 394 | 462 | 329 |
| Other income | 22.1 | 21.2 | 11.5 | 11.3 | 2.5 | 6.1 | 5.5 | 9.1 | 5.7 |
| Total expenses | 483 | 686 | 560 | 648 | 551 | 256 | 309 | 370 | 280 |
| EBITDA | 168 | 326 | 210 | 170 | 174 | 81.8 | 131 | 143 | 97.2 |
| EBITDA margin | 29.3% | 35.0% | 30.5% | 23.3% | 26.8% | 27.7% | 33.2% | 31.0% | 29.5% |
| Finance costs | 29.8 | 37.1 | 39 | 48.3 | 36.1 | 21.2 | 22.1 | 25.4 | 27.9 |
| Depreciation | 48.9 | 44.2 | 42.6 | 41.8 | 38.6 | 21.4 | 23.2 | 25.5 | 19.9 |
| Profit before tax | 111 | 266 | 140 | 90.9 | 102 | 45.2 | 90.8 | 101 | 55.1 |
| Tax | 30.4 | 78.4 | 48.3 | 25.1 | 23.6 | 16.9 | 20.1 | 20.6 | 8.7 |
| Net profit | 80.6 | 188 | 87.4 | 65.8 | 78.3 | 28.3 | 70.7 | 80.7 | 42.1 |
| Net margin | 14.1% | 20.2% | 12.7% | 9.0% | 12.0% | 9.6% | 18.0% | 17.5% | 12.8% |
| EPS (₹) | 26.00 | 60.44 | 29.47 | 21.23 | 25.25 | 9.12 | 22.81 | 26.02 | 14.98 |
| Net profit YoY | −57.0% | +114.7% | +32.7% | −16.0% | +176.8% | −60.0% | −12.3% | – | – |
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 | 183 | 191 | 188 | 136 | 68.6 |
| Investing cash flow | −321 | −94 | −37.8 | −31.6 | −214 |
| Financing cash flow | 62 | −101 | −108 | −115 | 151 |
| Capital expenditure | 327 | 97.7 | 42.6 | 32.9 | 217 |
| Free cash flow (CFO − capex) | −143 | 93.5 | 146 | 104 | −149 |
Net profit trend
annual, ₹ croreFY21
₹28.3
FY22
₹78.3+177%
FY23
₹65.8−16%
FY24
₹87.4+33%
FY25
₹188+115%
FY26
₹80.6−57%
Result filings
as filed with NSE · PDF and XBRL| Period | Basis | Filed | Documents |
|---|---|---|---|
| Q1 FY27 | Consolidated | 7 Aug 2026 | PDF on NSE XBRL |
| Q1 FY27 | Standalone | 7 Aug 2026 | PDF on NSE XBRL |
| Q4 FY26 | Consolidated · audited | 28 May 2026 | PDF on NSE XBRL |
| Q4 FY26 | Standalone · audited | 28 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 | 12 Nov 2025 | PDF on NSE XBRL |
| Q2 FY26 | Standalone | 12 Nov 2025 | PDF on NSE XBRL |
| Q1 FY26 | Consolidated | 30 Jul 2025 | PDF on NSE XBRL |
| Q1 FY26 | Standalone | 30 Jul 2025 | PDF on NSE XBRL |
Annual reports
NSE archiveKey ratios
P/E (TTM)5Y avg 19.9×23.8×
P/B5Y avg 3.15×2.64×
ROEFY26, on average equity9.9%
Net margin14.1%
Debt / equity0.50×
Revenue CAGR (3Y)-7.7%
Profit CAGR (3Y)7.0%
EPS (TTM)₹30.61
Market cap₹2,260 Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
2.64×
vs 8-point avg 3.15× (−16%)
1.50× low3.15× avg5.10× high
History points are balance-sheet dates (2022 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹1,616 Cr+15%
Net worth₹857 Cr+10%
Total borrowings₹426 Cr+30%
Cash & bank balances₹14 Cr−82%
Investments₹0 Cr
Inventories₹142 Cr−9%
Trade receivables₹144 Cr−22%
Trade payables₹50 Cr−44%
Change vs the same date a year earlier.
Revenue mix FY26
Quartz Surfaces96.0%result ₹155 Cr
Granite4.0%result ₹−14.5 Cr
Segment revenue as reported, before inter-segment eliminations.