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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	Q1 FY20	Q4 FY19	Q3 FY19	Q2 FY19	Q1 FY19	Q4 FY18
Revenue from operations	74	81	63	87	83	87	87	88	97	92	94	97	100	111	120	123	125	125	146	136	149	177	174	197	212	257	261	302	865	962	1,070	977	1,006	949
Other income	8	8	9	7	8	14	7	6	7	12	7.6	40	12	12	2	8	4	8	3	12	5	14	0	2	3	43	2	3	1	127	13	37	2	27
Total expenses	91	219	135	180	125	126	157	125	125	134	137	162	135	123	162	198	198	204	190	193	229	219	204	265	291	431	391	428	1,067	1,199	1,191	1,136	1,120	1,023
EBITDA	20	−101	−32	−54	−2	3	−31	2	14	−2	2	−20	9	31	3	−29	−24	−30	5	−6	−31	9	23	−18	−31	−147	−62	−66	59	−1	146	102	134	132
EBITDA margin	27.0%	-124.7%	-50.8%	-62.1%	-2.4%	3.4%	-35.6%	2.3%	14.4%	-2.2%	2.1%	-20.6%	9.0%	27.9%	2.5%	-23.6%	-19.2%	-24.0%	3.4%	-4.4%	-20.8%	5.1%	13.2%	-9.1%	-14.6%	-57.2%	-23.8%	-21.9%	6.8%	-0.1%	13.6%	10.4%	13.3%	13.9%
Finance costs	11	11	11	11	11	11	11	11	12	10	14	11	12	11	12	12	12	11	12	12	12	12	13	11	12	6	8	1	47	39	52	51	50	32
Depreciation	26	26	29	28	29	31	28	28	30	30	31	34	32	32	33	34	37	38	37	39	37	39	40	39	36	21	60	59	214	197	215	210	198	174
Profit before tax	459	−309	−63	−85	−34	−75	−56	−29	−21	−30	−35.4	−3	−19	0	−146	−67	−69	−71	−41	−45	−75	−28	−30	−66	−76	−131	−9,092	−1,373	−201	−494	−108	2,270	−112	−47
Tax	2	−1	6	0	0	4	0	0	0	8	0	6	0	−3	0	0	0	−8	4	2	1	−3	4	4	5	2	5	2	5	1,464	−4	966	−1	33
Net profit	−809	−3,098	−2,767	−2,701	−2,560	−2,502	−2,379	−2,286	−2,220	−2,127	−2,060	−1,060	−1,965	−1,882	−9,300	−1,839	−1,763	−1,700	−1,696	−1,629	−1,612	−1,526	−1,452	−1,426	−1,409	−1,544	−10,604	−30,163	−366	−7,779	−237	1,141	−343	−19,875
Net margin	-1093.2%	-3824.7%	-4392.1%	-3104.6%	-3084.3%	-2875.9%	-2734.5%	-2597.7%	-2288.7%	-2312.0%	-2191.9%	-1092.8%	-1965.0%	-1695.5%	-7750.0%	-1495.1%	-1410.4%	-1360.0%	-1161.6%	-1197.8%	-1081.9%	-862.1%	-834.5%	-723.9%	-664.6%	-600.8%	-4062.8%	-9987.7%	-42.3%	-808.6%	-22.1%	116.8%	-34.1%	-2094.3%
EPS (₹)	-0.04	-1.12	-0.25	-0.31	-0.12	-0.11	-0.20	-0.11	-0.08	-0.14	-0.14	-0.03	-0.07	0.01	-0.53	-0.24	-0.25	-0.23	-0.17	-0.17	-0.28	-0.09	-0.12	-0.26	-0.30	-0.48	-33.14	-5.01	-0.75	-7.14	-0.38	4.76	-0.40	-0.29
Net profit YoY	+68.4%	−23.8%	−16.3%	−18.2%	−15.3%	−17.6%	−15.5%	−115.7%	−13.0%	−13.0%	+77.8%	+42.4%	−11.5%	−10.7%	−448.3%	−12.9%	−9.4%	−11.4%	−16.8%	−14.2%	−14.4%	+1.2%	+86.3%	+95.3%	−285.0%	+80.2%	−4374.3%	−2743.6%	−6.7%	+60.9%	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Revenue from operations	314	358	383	479	556	760	1,685	4,015	4,593
Other income	32	33	72	26	28	19	49	179	91
Total expenses	657	532	568	681	816	979	2,317	4,646	4,692
EBITDA	−188	−11	−11	−19	−62	−17	−216	381	808
EBITDA margin	-59.9%	-3.1%	-2.9%	-4.0%	-11.2%	-2.2%	-12.8%	9.5%	17.6%
Finance costs	44	46	47	47	47	48	62	192	186
Depreciation	111	117	127	136	151	154	354	820	721
Profit before tax	−490	−182	−87	−282	−232	−200	−10,797	1,556	−8
Tax	5	4	14	−3	−1	10	14	2,425	16
Net profit	−11,125	−9,389	−7,212	−14,784	−6,637	−5,812	−42,677	−7,218	−23,907
Net margin	-3543.0%	-2622.6%	-1883.0%	-3086.4%	-1193.7%	-764.7%	-2532.8%	-179.8%	-520.5%
EPS (₹)	-1.80	-0.83	-0.37	-1.01	-0.84	-0.77	-39.38	-3.16	-0.07
Net profit YoY	−18.5%	−30.2%	+51.2%	−122.8%	−14.2%	+86.4%	−491.3%	+69.8%	–

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	−14	26	−39	−64	119
Investing cash flow	47	21	65	8	−298
Financing cash flow	−53	−58	−39	−205	−51
Capital expenditure	0	0	0	1	35
Free cash flow (CFO − capex)	−14	26	−39	−65	84

Net profit trend

annual, ₹ crore

FY21

₹−5,812

FY22

₹−6,637−14%

FY23

₹−14,784−123%

FY24

₹−7,212+51%

FY25

₹−9,389−30%

FY26

₹−11,125−18%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	13 Aug 2026	PDF on NSE XBRL
Q1 FY27	Standalone	13 Aug 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	–	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	29 May 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	–	PDF on NSE XBRL
Q4 FY26	Standalone · audited	30 May 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	13 Feb 2026	PDF on NSE XBRL
Q3 FY26	Standalone	13 Feb 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	17 Nov 2025	PDF on NSE XBRL
Q2 FY26	Standalone	17 Nov 2025	PDF on NSE XBRL

Annual reports

NSE archive

FY251.54 MB FY24 FY22 FY21 FY20 FY19 FY18 FY17 FY16 FY15

Key ratios

P/E (TTM)-0.0×

P/B-0.00×

ROEFY26, on average equity11.5%

Net margin-3543.0%

Debt / equity-0.46×

Revenue CAGR (3Y)-13.1%

Profit CAGR (3Y)–

EPS (TTM)₹-33.89

Market cap₹257 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₹36,338 Cr−0%

Net worth₹-1.03L Cr−12%

Total borrowings₹47,212 Cr−0%

Cash & bank balances₹174 Cr−10%

Investments₹40 Cr+11%

Inventories₹2 Cr+0%

Trade receivables₹308 Cr−1%

Trade payables₹3,994 Cr+9%

Change vs the same date a year earlier.

Revenue mix FY26

India Operation98.9%result ₹−264 Cr

Global Operation1.1%result ₹−6 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	0.77	0.77	0.77	0.77	0.77	0.77	1.85	1.85	1.85	1.85	1.85	1.85
FII	0.07	0.08	0.08	0.07	0.07	0.08	0.08	0.08	0.08	0.12	0.12	0.12
DII	4.32	4.38	4.38	4.38	4.38	4.38	4.38	4.38	4.39	4.39	4.40	4.40
of which MF	0.01	0.01	0.01	0.01	0.01	–	–	–	–	–	–	–
Retail	86.23	86.06	85.85	85.22	85.05	84.46	84.26	84.03	84.28	84.11	84.51	84.71
Other public	7.84	7.94	8.15	8.79	8.96	9.54	8.66	8.89	8.63	8.76	8.35	8.15

15,78,512 shareholders · NSE shareholding pattern filings.