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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	Q1 FY20	Q4 FY19	Q2 FY19	Q4 FY18
Revenue from operations	2,273	2,610	2,106	2,239	2,074	2,397	1,983	2,044	2,094	2,678	2,111	2,341	2,247	2,573	2,012	1,794	1,779	1,713	1,553	1,503	1,235	1,634	1,344	1,266	1,048	1,394	1,282	1,389	0	1,324	0
Other income	6.7	11.8	17.2	6.5	6	12.5	10.8	9.8	8.1	13.6	6.5	11.5	7.3	11	8.8	6.9	6.2	9.3	6.2	7.2	5.3	7.8	5.7	7.6	9.3	9.9	7.9	7.7	0	8.1	0
Total expenses	2,252	2,523	2,119	2,145	1,965	2,374	1,992	2,019	2,054	2,517	1,996	2,214	2,146	2,379	1,926	1,783	1,631	1,560	1,448	1,232	988	1,296	1,052	931	899	1,219	1,179	1,117	0	1,116	0
EBITDA	306	371	280	388	398	319	279	314	320	419	397	406	343	412	283	188	303	295	229	400	366	449	398	447	263	280	205	362	0	300	0
EBITDA margin	13.5%	14.2%	13.3%	17.3%	19.2%	13.3%	14.1%	15.4%	15.3%	15.6%	18.8%	17.3%	15.3%	16.0%	14.1%	10.5%	17.0%	17.2%	14.7%	26.6%	29.7%	27.5%	29.6%	35.3%	25.1%	20.1%	16.0%	26.1%	–	22.7%	–
Finance costs	95.6	95.2	108	111	105	113	113	120	113	104	102	117	93.4	77.2	60.8	55.1	47.5	33.4	25.3	29.4	24.3	15.2	16	26.5	29.9	21.6	21.6	13.9	0	15	0
Depreciation	190	188	185	183	184	183	175	170	168	154	180	163	150	141	136	122	107	108	99.6	98.9	95.9	96.1	90	85.8	84.8	83.5	80	76.1	0	76.9	0
Profit before tax	40.4	173	483	99.8	115	46.2	191	34.5	47.5	175	121	138	108	205	94.8	17.6	155	163	110	279	252	345	298	343	158	185	111	280	0	216	0
Tax	9.4	26.7	98	24	30.5	21.3	7.9	9.2	12.8	44.7	37.4	37	29	53.7	29.1	5.3	41.8	39.7	29.8	−240	81.5	133	96.4	104	46.6	39.5	15.5	86.7	0	46.1	0
Net profit	31.2	151	386	77.9	84.6	25.7	182	25.8	36.6	129	81.6	72	74.4	151	51.2	3.7	109	118	75.2	517	172	216	207	244	118	143	94.4	195	0	173	0
Net margin	1.4%	5.8%	18.3%	3.5%	4.1%	1.1%	9.2%	1.3%	1.7%	4.8%	3.9%	3.1%	3.3%	5.9%	2.5%	0.2%	6.1%	6.9%	4.8%	34.4%	13.9%	13.2%	15.4%	19.3%	11.2%	10.3%	7.4%	14.0%	–	13.1%	–
EPS (₹)	1.32	6.38	16.31	3.27	3.60	1.16	7.62	1.12	1.63	5.65	3.70	3.15	3.26	6.60	2.26	0.13	5.00	6.00	3.00	23.00	7.00	9.00	9.00	11.00	5.00	6.00	4.00	9.00	0.00	7.00	0.00
Net profit YoY	−63.1%	+487.6%	+112.4%	+202.2%	+131.2%	−80.0%	+122.6%	−64.2%	−50.8%	−14.6%	+59.3%	+1840.7%	−31.9%	+27.3%	−31.9%	−99.3%	−36.4%	−45.2%	−63.6%	+111.6%	+46.1%	+51.1%	+118.9%	–	−39.6%	–	–	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Revenue from operations	9,029	8,518	9,376	8,157	6,004	5,291	5,389	5,162	4,584
Other income	41.5	41.2	38.9	32.9	28	30.4	33.5	25	32.7
Total expenses	8,752	8,440	8,874	7,718	5,228	4,178	4,631	4,469	3,825
EBITDA	1,436	1,233	1,565	1,186	1,290	1,557	1,147	1,044	1,112
EBITDA margin	15.9%	14.5%	16.7%	14.5%	21.5%	29.4%	21.3%	20.2%	24.3%
Finance costs	419	459	416	241	112	87.6	72.1	51.4	60
Depreciation	740	695	646	506	402	357	317	300	294
Profit before tax	871	319	542	472	803	1,144	792	718	791
Tax	179	51.2	148	130	−89.4	380	188	211	231
Net profit	699	270	356	315	882	784	605	511	565
Net margin	7.7%	3.2%	3.8%	3.9%	14.7%	14.8%	11.2%	9.9%	12.3%
EPS (₹)	29.56	11.53	15.77	13.76	39.00	34.00	26.00	22.00	25.00
Net profit YoY	+159.2%	−24.4%	+13.3%	−64.3%	+12.4%	+29.6%	+18.3%	−9.5%	–

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	1,611	1,399	1,906	1,412	1,135
Investing cash flow	−338	−542	−1,911	−1,694	−1,816
Financing cash flow	−1,257	−782	−28	274	715
Capital expenditure	997	1,024	1,923	1,766	1,817
Free cash flow (CFO − capex)	614	375	−17	−354	−682

Net profit trend

annual, ₹ crore

FY21

₹784

FY22

₹882+12%

FY23

₹315−64%

FY24

₹356+13%

FY25

₹270−24%

FY26

₹699+159%

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	22 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	22 May 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	9 Feb 2026	PDF on NSE XBRL
Q3 FY26	Standalone	9 Feb 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	5 Nov 2025	PDF on NSE XBRL
Q2 FY26	Standalone	5 Nov 2025	PDF on NSE XBRL
Q1 FY26	Consolidated	7 Aug 2025	PDF XBRL
Q1 FY26	Standalone	7 Aug 2025	PDF XBRL

Annual reports

NSE archive

FY2612.01 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 55.1×31.8×

P/B5Y avg 2.80×2.53×

ROEFY26, on average equity9.0%

Net margin7.7%

Debt / equity0.48×

Revenue CAGR (3Y)3.4%

Profit CAGR (3Y)30.5%

EPS (TTM)₹27.32

Market cap₹20,500 Cr

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

P/B vs history

2.53×

vs 8-point avg 2.80× (−10%)

2.53× low2.80× avg3.08× high

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

Balance sheet 31 Mar 2026

Total assets₹16,636 Cr+2%

Net worth₹8,094 Cr+9%

Total borrowings₹3,852 Cr−17%

Cash & bank balances₹188 Cr+9%

Investments₹0 Cr−100%

Inventories₹1,030 Cr+1%

Trade receivables₹793 Cr+9%

Trade payables₹1,201 Cr+28%

Change vs the same date a year earlier.

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	42.56	42.56	42.56	42.56	42.56	42.56	42.75	42.29	42.29	42.29	42.11	42.11
FII	7.52	8.04	7.98	8.15	8.43	7.29	6.88	6.61	7.38	7.43	7.94	7.85
DII	29.50	28.92	28.14	28.49	27.86	30.14	30.90	30.86	31.13	32.23	32.92	33.36
of which MF	20.31	19.04	18.12	17.03	16.61	–	–	–	–	–	–	–
Retail	12.70	12.51	12.92	12.42	12.84	12.41	11.67	12.37	11.57	10.49	10.17	9.75
Other public	7.72	7.97	8.40	8.38	8.31	7.60	7.80	7.87	7.63	7.56	6.86	6.93

53,616 shareholders · NSE shareholding pattern filings.