Quarterly results
consolidated · as filed with NSE · Q1 FY27 back to Q1 FY25
| ₹ crore | Q1 FY27 | Q4 FY26 | Q3 FY26 | Q2 FY26 | Q1 FY26 | Q4 FY25 | Q3 FY25 | Q2 FY25 | Q1 FY25 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 120 | 140 | 127 | 120 | 163 | 159 | 53.1 | 15.6 | 22.7 |
| Other income | 2.5 | 4.1 | 4.7 | 2.4 | 5.9 | 6 | 2.6 | 2.3 | 0.9 |
| Total expenses | 105 | 127 | 114 | 97 | 144 | 137 | 51.3 | 18.1 | 23.3 |
| EBITDA | 38.1 | 34 | 32.3 | 37.2 | 27.9 | 27.4 | 7.1 | 0.6 | 7.3 |
| EBITDA margin | 31.8% | 24.2% | 25.4% | 30.9% | 17.1% | 17.2% | 13.4% | 3.8% | 32.2% |
| Finance costs | 12.3 | 11.7 | 10.5 | 7.7 | 4.8 | 1.8 | 2.5 | 1.1 | 4.5 |
| Depreciation | 10.7 | 9.3 | 8.4 | 6.1 | 4.6 | 3.3 | 2.8 | 2 | 3.4 |
| Profit before tax | 17.7 | 17.1 | 18 | 25.8 | 24.5 | 13.8 | 4.4 | 1.4 | 7.8 |
| Tax | 4.3 | 1.3 | 1.1 | −5 | 0.8 | 0.1 | 1.8 | 0.1 | 2.1 |
| Net profit | 1.6 | 11.1 | 14.6 | 30.8 | 22.8 | 12.9 | 2.2 | 1.2 | 5.6 |
| Net margin | 1.4% | 7.9% | 11.5% | 25.6% | 14.0% | 8.1% | 4.1% | 7.4% | 24.6% |
| EPS (₹) | 0.09 | 0.62 | 0.80 | 1.69 | 1.33 | 0.74 | 0.14 | 0.07 | 0.37 |
| Net profit YoY | −92.8% | −13.9% | +572.7% | +2568.1% | +307.9% | – | – | – | – |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY26 | FY25 |
|---|---|---|
| Revenue from operations | 564 | 250 |
| Other income | 12.3 | 11.8 |
| Total expenses | 499 | 229 |
| EBITDA | 129 | 42.4 |
| EBITDA margin | 22.9% | 16.9% |
| Finance costs | 34.7 | 10 |
| Depreciation | 29.2 | 11.5 |
| Profit before tax | 77.7 | 27.4 |
| Tax | −1.5 | 4.1 |
| Net profit | 71.4 | 21.8 |
| Net margin | 12.7% | 8.7% |
| EPS (₹) | 4.00 | 1.32 |
| Net profit YoY | +227.4% | – |
EPS is as filed for each period and is not restated for later bonus issues or splits.
Cash flow
annual · ₹ crore| ₹ crore | FY26 | FY25 |
|---|---|---|
| Operating cash flow | 166 | 72 |
| Investing cash flow | −437 | −160 |
| Financing cash flow | 278 | 210 |
| Capital expenditure | 448 | 177 |
| Free cash flow (CFO − capex) | −281 | −105 |
Net profit trend
annual, ₹ croreFY25
₹21.8
FY26
₹71.4+227%
Result filings
as filed with NSE · PDF and XBRL| Period | Basis | Filed | Documents |
|---|---|---|---|
| Q1 FY27 | Consolidated | 14 Aug 2026 | PDF XBRL |
| Q1 FY27 | Standalone | 14 Aug 2026 | PDF XBRL |
| Q4 FY26 | Consolidated · audited | 29 Apr 2026 | PDF on NSE XBRL |
| Q4 FY26 | Consolidated · audited | – | PDF XBRL |
| Q4 FY26 | Standalone · audited | 29 Apr 2026 | PDF on NSE XBRL |
| Q3 FY26 | Consolidated | 15 Jan 2026 | PDF on NSE XBRL |
| Q3 FY26 | Standalone | 15 Jan 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 | 6 Aug 2025 | PDF on NSE XBRL |
Annual reports
NSE archiveKey ratios
P/E (TTM)5Y avg 65.1×45.7×
P/B5Y avg 8.53×6.46×
ROEFY26, on average equity19.0%
Net margin12.7%
Debt / equity1.22×
Revenue CAGR (3Y)–
Profit CAGR (3Y)–
EPS (TTM)₹3.25
Market cap₹2,661 Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
6.46×
vs 4-point avg 8.53× (−24%)
5.04× low8.53× avg15.60× high
History points are balance-sheet dates (2024 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹1,119 Cr+72%
Net worth₹412 Cr+21%
Total borrowings₹502 Cr+165%
Cash & bank balances₹92 Cr+9%
Investments₹41 Cr−16%
Inventories₹15 Cr+248%
Trade receivables₹40 Cr+135%
Trade payables₹12 Cr−55%
Change vs the same date a year earlier.
Revenue mix FY26
Solar96.1%result ₹122 Cr
Trading3.9%result ₹−5 Cr
Segment revenue as reported, before inter-segment eliminations.