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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	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	Q4 FY18
Revenue from operations	1,835	2,110	1,844	1,855	1,922	2,102	1,859	1,685	1,763	2,079	1,728	1,838	1,942	2,112	1,774	1,663	1,854	1,637	1,510	1,312	1,850	1,525	1,351	861	1,483	1,462	1,414	1,596	0	0
Other income	22.1	10.1	6.4	10.4	8.2	12.9	87.5	13.9	14	9.7	2.2	8.2	14.5	9.7	12.6	6.5	12.9	10.9	10.7	5.2	12.3	6.7	9.2	9.9	9.7	7.1	4.7	6.7	0	0
Total expenses	1,774	2,104	1,884	1,853	1,935	2,103	1,983	1,814	1,797	2,146	1,743	1,884	1,932	2,119	1,865	1,765	1,853	1,641	1,479	1,310	1,745	1,449	1,311	963	1,486	1,463	1,449	1,522	0	0
EBITDA	221	175	140	186	168	188	52.5	46.1	132	111	134	92.4	152	147	60.1	32.8	138	116	150	120	238	190	172	22.3	134	128	86	191	0	0
EBITDA margin	12.0%	8.3%	7.6%	10.0%	8.8%	8.9%	2.8%	2.7%	7.5%	5.4%	7.7%	5.0%	7.8%	7.0%	3.4%	2.0%	7.4%	7.1%	9.9%	9.2%	12.8%	12.5%	12.7%	2.6%	9.1%	8.7%	6.1%	12.0%	–	–
Finance costs	36.8	40.4	46.1	44.2	46.3	55.3	56.3	56.9	54.7	51.4	49.2	43.5	48.5	49.6	49.4	44.3	43.1	45.1	48.7	48.3	48.5	50.3	53.6	58.1	62.1	68	62.4	59.1	0	0
Depreciation	122	128	133	140	136	133	121	118	112	126	99.3	95.2	93.1	105	101	90.1	94.1	75.1	70.3	70.3	84.1	63.6	78.3	66.6	74.8	59.9	58.7	57.2	0	0
Profit before tax	117	16.2	76.1	12.6	−5.9	159	−37.5	−116	−20	−62.2	−12.7	210	24.6	2.7	−78	−102	24.3	6.4	39.7	6.7	143	71.2	31	−92.4	−3.2	6.9	−30.4	81.5	0	0
Tax	26.2	−7.4	28.6	14.6	3	45	−79.7	−8.1	2.2	−27.1	2.5	30.4	6.6	2.2	−13.6	−17.4	7.9	8.7	12.4	11	−12	26.8	5.1	−2.6	43.5	5.2	0.5	33.6	0	0
Net profit	113	−16	49.9	1.6	−5.6	121	46	−104	−18.3	−30.5	−11.5	183	20.8	4.3	−63.4	−82.6	19.9	−0.7	29	−4.2	157	47.2	26.4	−91.7	−45.5	2.7	−28.8	51	0	0
Net margin	6.1%	-0.8%	2.7%	0.1%	-0.3%	5.8%	2.5%	-6.2%	-1.0%	-1.5%	-0.7%	10.0%	1.1%	0.2%	-3.6%	-5.0%	1.1%	-0.0%	1.9%	-0.3%	8.5%	3.1%	2.0%	-10.7%	-3.1%	0.2%	-2.0%	3.2%	–	–
EPS (₹)	1.88	0.57	1.21	0.06	0.05	2.57	0.96	-1.78	-0.15	-0.32	-0.07	3.63	0.36	0.14	-1.06	-1.32	0.59	0.19	0.76	0.29	3.30	1.10	0.58	-1.59	-0.61	0.07	-0.47	1.04	0.00	0.00
Net profit YoY	+2127.0%	−113.2%	+8.5%	+101.5%	+69.6%	+496.8%	+501.3%	−156.6%	−188.0%	−817.6%	+81.9%	+321.7%	–	−78.6%	−8698.6%	−384.7%	−87.4%	−101.5%	+10.0%	+95.4%	+445.8%	+1681.9%	+191.6%	−279.6%	–	–	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Revenue from operations	7,381	7,310	7,588	7,361	6,306	5,587	5,956	6,194	5,592
Other income	35.1	128	34.6	34.5	39.7	38.2	28.2	26.6	116
Total expenses	7,395	7,598	7,705	7,576	6,278	5,468	5,919	6,013	5,611
EBITDA	693	418	489	361	523	622	539	601	393
EBITDA margin	9.4%	5.7%	6.4%	4.9%	8.3%	11.1%	9.1%	9.7%	7.0%
Finance costs	177	223	193	186	185	210	252	220	227
Depreciation	531	483	414	390	310	293	251	200	184
Profit before tax	132	−14.3	160	−187	77.1	152	54.8	197	97.5
Tax	40.2	−40.6	12.4	−20.1	40	16.2	82.8	91.6	45.7
Net profit	30	45.1	162	−158	44	140	−20.7	110	55
Net margin	0.4%	0.6%	2.1%	-2.1%	0.7%	2.5%	-0.3%	1.8%	1.0%
EPS (₹)	2.21	1.59	3.60	-2.05	1.82	3.40	0.03	2.31	0.84
Net profit YoY	−33.5%	−72.1%	+202.7%	−458.9%	−68.7%	+779.6%	−118.8%	+99.3%	–

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	493	737	473	592	565
Investing cash flow	−180	−239	72.3	−320	−313
Financing cash flow	−244	−527	−371	−267	−342
Capital expenditure	358	389	495	369	368
Free cash flow (CFO − capex)	135	348	−22.4	223	198

Net profit trend

annual, ₹ crore

FY21

₹140

FY22

₹44−69%

FY23

₹−158−459%

FY24

₹162+203%

FY25

₹45.1−72%

FY26

₹30−33%

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	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	7 Nov 2025	PDF on NSE XBRL
Q2 FY26	Standalone	7 Nov 2025	PDF on NSE XBRL
Q1 FY26	Consolidated	7 Aug 2025	PDF on NSE XBRL
Q1 FY26	Standalone	7 Aug 2025	PDF on NSE XBRL

Annual reports

NSE archive

FY2612.94 MB FY2513.43 MB FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 138.8×39.5×

P/B5Y avg 5.37×3.83×

ROEFY26, on average equity2.0%

Net margin0.4%

Debt / equity0.73×

Revenue CAGR (3Y)0.1%

Profit CAGR (3Y)–

EPS (TTM)₹2.95

Market cap₹5,855 Cr

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

P/B vs history

3.83×

vs 8-point avg 5.37× (−29%)

3.83× low5.37× avg7.96× high

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

Balance sheet 31 Mar 2026

Total assets₹7,333 Cr+0%

Net worth₹1,528 Cr+3%

Total borrowings₹1,113 Cr+0%

Cash & bank balances₹477 Cr+17%

Investments₹8 Cr−99%

Inventories₹684 Cr−12%

Trade receivables₹779 Cr−7%

Trade payables₹1,015 Cr+0%

Change vs the same date a year earlier.

Revenue mix FY26

Cement46.0%result ₹136 Cr

HRJ33.1%result ₹137 Cr

RMC21.0%result ₹26.2 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	74.87	74.87	74.87	74.87	74.87	74.87	74.87	74.87	74.87	74.87	74.87	74.87
FII	2.74	3.55	3.53	3.47	3.42	3.42	3.76	3.68	3.63	3.87	3.90	3.72
DII	6.45	6.05	6.23	6.08	5.62	5.57	5.32	6.02	5.94	5.05	5.11	4.85
of which MF	6.45	5.99	6.00	6.08	5.62	–	–	–	–	–	–	–
Retail	11.12	10.69	10.74	11.20	11.76	11.70	11.68	10.97	10.98	11.47	11.44	11.64
Other public	4.82	4.84	4.63	4.38	4.33	4.44	4.37	4.46	4.58	4.74	4.68	4.92

74,536 shareholders · NSE shareholding pattern filings.