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 | Q4 FY22 | Q3 FY22 | Q2 FY22 | Q1 FY22 | Q3 FY21 | Q2 FY21 | Q1 FY21 | Q4 FY20 | Q3 FY20 | Q2 FY20 | Q3 FY19 | Q2 FY19 | Q4 FY18 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 33.7 | 30.2 | 30.2 | 31.2 | 46.2 | 12.3 | 21.1 | 29.8 | 29.1 | 12.8 | 17.9 | 15.4 | 20.7 | 12.1 | 15.9 | 8.7 | 10.5 | 15.4 | 13.2 | 7.2 | 6.3 | 8.9 | 10.1 | 31.2 | 13.5 | 18.8 | 13.4 | 9.4 | 2.7 |
| Other income | 0 | 0.6 | 0 | 0 | 0.7 | 0.4 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.3 | 0 | 0 | 0 | 0 | 0.1 | 0.1 | 0 | 0 | 0 | 0 | 0.3 | 0.1 | 0.1 | 0.3 | 0.2 |
| Total expenses | 27.3 | 36.7 | 27.6 | 25.9 | 30.5 | 12 | 11.1 | 11.9 | 16.8 | 10.5 | 8 | 10.8 | 14 | 7.5 | 11.1 | 8.1 | 9.4 | 7.9 | 5.5 | 5 | 5.7 | 6.1 | 8 | 32 | 13.3 | 14 | 6.4 | 5 | 2.1 |
| EBITDA | 7.7 | −5.2 | 4 | 6.2 | 16.4 | 0.8 | 10.4 | 18.2 | 12.6 | 2.6 | 10.2 | 4.9 | 6.9 | 5.2 | 5.3 | 1 | 1.4 | 7.9 | 8 | 2.5 | 1.1 | 3.3 | 2.5 | −0.5 | 0.5 | 5 | 7.2 | 4.4 | 0.6 |
| EBITDA margin | 23.0% | -17.1% | 13.3% | 20.0% | 35.4% | 6.4% | 49.2% | 61.1% | 43.3% | 20.0% | 56.7% | 31.6% | 33.5% | 42.7% | 33.2% | 11.8% | 13.6% | 51.0% | 60.2% | 35.4% | 17.3% | 37.4% | 24.7% | -1.5% | 3.7% | 26.8% | 53.9% | 47.4% | 24.0% |
| Finance costs | 0.4 | 0.4 | 0.2 | 0.2 | 0.1 | 0.1 | 0 | 0 | 0 | 0 | 0 | 0 | 0.1 | 0.2 | 0.2 | 0.1 | 0.3 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0 | 0.1 | 0.1 | 0.1 | 0 |
| Depreciation | 1 | 1 | 1.2 | 0.8 | 0.5 | 0.4 | 0.3 | 0.3 | 0.3 | 0.3 | 0.2 | 0.3 | 0.2 | 0.4 | 0.3 | 0.3 | 0.2 | 0.2 | 0.2 | 0.3 | 0.4 | 0.4 | 0.3 | 0.3 | 0.2 | 0.2 | 0.1 | 0.1 | 0 |
| Profit before tax | 5.1 | −17.7 | 2.6 | 5.3 | 16.5 | 0.7 | 10.1 | 17.9 | 16 | 2.3 | 9.9 | 4.6 | 6.7 | 5.8 | 4.8 | 1.5 | 1 | 7.6 | 7.8 | 5 | 0.6 | 2.9 | 2.1 | −0.9 | 0.6 | 4.9 | 7.1 | 4.7 | 2.7 |
| Tax | 2.7 | −4.8 | 0.3 | −8.7 | 5.6 | −0.2 | 1.9 | 0.7 | 3.9 | 0.6 | 1.9 | 0.6 | 1.6 | 1.8 | 1 | 0.7 | 0.4 | 2 | 1.3 | 0.7 | −0.3 | 0.8 | 1.2 | 0.3 | 1 | 0.9 | 1.5 | 1 | −0.3 |
| Net profit | 2 | −13.2 | 2.1 | 13.8 | 10.5 | 0.8 | 8.2 | 17.2 | 12.1 | 1.7 | 7.9 | 4 | 5 | 4.1 | 3.9 | 0.8 | 0.6 | 5.6 | 6.5 | 4.3 | 1 | 2.1 | 0.9 | −1.1 | −0.5 | 4 | 5.6 | 3.7 | 3 |
| Net margin | 6.0% | -43.8% | 7.0% | 44.1% | 22.7% | 6.5% | 38.8% | 57.7% | 41.5% | 12.9% | 44.3% | 25.6% | 24.3% | 33.5% | 24.3% | 9.1% | 6.0% | 36.1% | 48.9% | 60.0% | 15.2% | 24.0% | 9.2% | -3.6% | -3.3% | 21.1% | 41.9% | 39.5% | 110.5% |
| EPS (₹) | 0.70 | -3.91 | 0.69 | 4.17 | 3.23 | 0.29 | 2.46 | 5.13 | 3.62 | 0.50 | 2.41 | 1.21 | 1.55 | 1.26 | 1.21 | 0.25 | 0.20 | 1.94 | 2.44 | 1.62 | 0.36 | 0.81 | 0.35 | -0.43 | -0.17 | 1.49 | 2.18 | 1.34 | 1.14 |
| Net profit YoY | −80.8% | −1752.5% | −74.4% | −19.9% | −13.4% | −51.5% | +3.4% | +335.4% | +140.6% | −59.4% | +105.4% | +400.0% | – | +544.4% | −30.8% | −87.8% | – | +481.3% | +201.9% | +361.3% | +313.3% | −45.8% | – | – | −108.0% | +6.8% | – | – | – |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 | FY20 | FY18 |
|---|---|---|---|---|---|---|---|
| Revenue from operations | 137 | 89 | 66.6 | 46.4 | 45.6 | 74.5 | 23.1 |
| Other income | 1.3 | 0.4 | 0 | 0.4 | 0.2 | 0 | 0.9 |
| Total expenses | 120 | 48.4 | 43.3 | 33.4 | 27.1 | 63.7 | 7.9 |
| EBITDA | 21.5 | 42 | 24.5 | 14.7 | 19.8 | 11.9 | 15.4 |
| EBITDA margin | 15.7% | 47.2% | 36.8% | 31.7% | 43.5% | 16.0% | 66.5% |
| Finance costs | 0.9 | 0.1 | 0.1 | 0.6 | 0.4 | 0.2 | 0 |
| Depreciation | 3.5 | 1.3 | 1 | 1.1 | 0.9 | 1 | 0.2 |
| Profit before tax | 6.6 | 44.7 | 23.4 | 15.2 | 21.4 | 10.7 | 17.2 |
| Tax | −7.7 | 6.2 | 4.8 | 4 | 4.4 | 2.9 | 2.8 |
| Net profit | 13.2 | 38.3 | 18.6 | 11.2 | 17 | 7.9 | 14.3 |
| Net margin | 9.6% | 43.0% | 27.9% | 24.1% | 37.3% | 10.6% | 61.9% |
| EPS (₹) | 3.91 | 11.49 | 5.66 | 3.52 | 6.02 | 2.98 | 5.34 |
| Net profit YoY | −65.6% | +106.4% | +66.0% | −34.2% | – | – | – |
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 | −2.1 | 31.5 | 13.2 | −3.6 | 4 |
| Investing cash flow | 6.6 | −29.8 | −18 | 3.5 | −50.4 |
| Financing cash flow | −2.6 | −1.3 | 3.8 | −6 | 33.7 |
| Capital expenditure | 10.3 | 5.2 | 0.2 | 0.4 | 1.9 |
| Free cash flow (CFO − capex) | −12.4 | 26.3 | 13 | −3.9 | 2.1 |
Net profit trend
annual, ₹ croreFY20
₹7.9
FY22
₹17+115%
FY23
₹11.2−34%
FY24
₹18.6+66%
FY25
₹38.3+106%
FY26
₹13.2−66%
Result filings
as filed with NSE · PDF and XBRL| Period | Basis | Filed | Documents |
|---|---|---|---|
| Q1 FY27 | Consolidated | 23 Jul 2026 | PDF on NSE XBRL |
| Q1 FY27 | Standalone | 23 Jul 2026 | PDF on NSE XBRL |
| Q4 FY26 | Consolidated · audited | 29 May 2026 | PDF on NSE XBRL |
| Q4 FY26 | Standalone · audited | 29 May 2026 | PDF on NSE XBRL |
| Q3 FY26 | Consolidated | 20 Jan 2026 | PDF on NSE XBRL |
| Q3 FY26 | Standalone | 20 Jan 2026 | PDF on NSE XBRL |
| Q2 FY26 | Consolidated | 16 Oct 2025 | PDF XBRL |
| Q2 FY26 | Standalone | 16 Oct 2025 | PDF XBRL |
| Q1 FY26 | Consolidated | 22 Jul 2025 | PDF XBRL |
| Q1 FY26 | Standalone | 22 Jul 2025 | PDF XBRL |
Annual reports
NSE archiveKey ratios
P/E (TTM)219.6×
P/B3.99×
ROEFY26, on average equity5.7%
Net margin9.6%
Debt / equity0.01×
Revenue CAGR (3Y)43.3%
Profit CAGR (3Y)5.6%
EPS (TTM)₹1.37
Market cap₹1,023 Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
Balance sheet 31 Mar 2026
Total assets₹288 Cr+25%
Net worth₹256 Cr+24%
Total borrowings₹2 Cr
Cash & bank balances₹3 Cr+147%
Investments₹214 Cr+22%
Inventories₹0 Cr
Trade receivables₹14 Cr−33%
Change vs the same date a year earlier.
Revenue mix Q2 FY20
Merchant Banking99.9%result ₹5 Cr
Brokerage Mutual Fund0.1%result ₹0 Cr
Segment revenue as reported, before inter-segment eliminations.