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Quarterly results

consolidated · as filed with NSE · Q1 FY27 back to Q4 FY17

₹ 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	Q3 FY19	Q2 FY19	Q4 FY17
Revenue from operations	755	677	629	627	543	545	552	576	540	548	524	554	534	603	548	593	563	513	473	478	395	483	446	397	143	331	342	363	335	361	332
Other income	2.9	4.1	2.4	1.5	2	3.7	2.1	4.4	2.7	3	4.6	3.3	3.8	6.2	1.5	5.2	4.7	5.1	3.1	5.2	5.7	7.5	3.3	5	2.8	8.6	5.9	4.8	4.3	3	1.4
Total expenses	762	671	608	604	526	533	545	568	535	531	512	544	528	582	537	579	553	503	463	470	398	474	440	406	180	338	338	359	318	340	314
EBITDA	34.8	47.8	60.6	61	53.9	50.5	45.2	49.4	43.3	59.1	58.3	54.2	50.5	66.9	55.9	52.9	46.6	44.4	43.7	40.6	29.1	40.8	39.2	22.6	−12.6	22.1	32.9	30.1	36.5	42.6	38.6
EBITDA margin	4.6%	7.1%	9.6%	9.7%	9.9%	9.3%	8.2%	8.6%	8.0%	10.8%	11.1%	9.8%	9.5%	11.1%	10.2%	8.9%	8.3%	8.6%	9.2%	8.5%	7.4%	8.4%	8.8%	5.7%	-8.8%	6.7%	9.6%	8.3%	10.9%	11.8%	11.6%
Finance costs	14.5	16.4	13.1	12	13.3	14.7	14.3	14.4	12.7	13.2	16.2	13.8	15.1	15.1	15	12.4	10.7	10.4	11.4	10.6	9.8	8.7	10.3	10.4	9.2	9.1	7.8	7	5.7	6.7	5.8
Depreciation	27.1	25.4	26	25.7	23.6	24	24	27.3	26.4	28.1	30.1	30.4	29.9	30.9	29.5	26.2	25.4	24	22.4	22.5	21.7	23.3	23.3	20.4	14.4	20	20.7	19.9	14.5	14.5	14.1
Profit before tax	−4.1	10.1	16.5	24.5	18.5	14.9	9.1	11.8	6.8	20.6	16	12.8	8	27	12.7	18.9	15	14.8	12.9	11.3	−1.1	14.5	8.8	−5.6	−33.6	−2.8	9.9	6.3	16.6	24.1	18.2
Tax	−0.7	3.2	5.4	6.8	1.7	7.6	7.2	5.3	2.1	6.4	5.5	6.4	2.3	1.1	2.7	10.2	6.5	6.1	3.4	4.5	0.1	3.9	4.3	−1.2	−8.9	1	−0.7	0.4	6.3	6.9	0.2
Net profit	−3.4	6.9	11.1	17.7	16.7	7.4	1.8	6.6	5.6	16.3	10.5	6.4	5.7	25.9	9.9	8.7	8.5	8.7	9.5	6.8	−1.2	10.6	4.5	−4.5	−24.7	−3.8	10.6	5.9	10.9	18.1	18.7
Net margin	-0.4%	1.0%	1.8%	2.8%	3.1%	1.3%	0.3%	1.1%	1.0%	3.0%	2.0%	1.2%	1.1%	4.3%	1.8%	1.5%	1.5%	1.7%	2.0%	1.4%	-0.3%	2.2%	1.0%	-1.1%	-17.2%	-1.2%	3.1%	1.6%	3.3%	5.0%	5.6%
EPS (₹)	-0.27	0.44	0.80	1.31	1.24	0.54	0.14	0.47	0.42	1.20	0.74	0.50	0.42	1.91	0.71	0.64	0.62	0.65	0.70	0.49	-0.08	0.78	0.32	-0.35	-1.80	-0.30	0.78	0.44	0.80	1.32	1.37
Net profit YoY	−120.2%	−6.7%	+503.8%	+169.7%	+196.5%	−54.8%	−82.5%	+2.0%	−1.2%	−37.1%	+5.7%	−25.9%	−32.6%	+197.1%	+4.7%	+28.2%	+800.0%	−17.7%	+111.1%	+251.0%	+95.1%	+376.0%	−57.7%	−175.7%	–	–	−2.5%	−67.2%	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY17
Revenue from operations	2,478	2,212	2,160	2,302	1,860	1,470	1,401	1,230
Other income	10	12.8	14.7	19.2	19.1	18.5	22.7	16.2
Total expenses	2,410	2,181	2,114	2,247	1,835	1,500	1,398	1,171
EBITDA	223	188	222	221	158	88.6	114	131
EBITDA margin	9.0%	8.5%	10.3%	9.6%	8.5%	6.0%	8.1%	10.7%
Finance costs	54.7	56	58.2	54.1	42.2	38.6	31.2	18.7
Depreciation	101	102	119	112	90.6	80.1	79.6	53.9
Profit before tax	69.5	42.6	57.4	73.6	38	−15.9	18.9	67.2
Tax	17.1	22.1	20.6	22.6	14.2	−1.9	2.2	12.1
Net profit	52.4	21.4	38.9	51	23.8	−14.1	16.7	58
Net margin	2.1%	1.0%	1.8%	2.2%	1.3%	-1.0%	1.2%	4.7%
EPS (₹)	3.73	1.58	2.88	3.77	1.75	-1.05	1.23	4.27
Net profit YoY	+144.8%	−45.0%	−23.7%	+114.7%	+268.9%	−184.4%	–	–

EPS is as filed for each period and is not restated for later bonus issues or splits.

Cash flow

annual · ₹ crore

₹ crore	FY26	FY25	FY24	FY23	FY22
Operating cash flow	326	183	247	160	189
Investing cash flow	−286	−125	−103	−233	−184
Financing cash flow	−42.3	−56.7	−153	77.3	−11.5
Capital expenditure	296	159	171	200	190
Free cash flow (CFO − capex)	29.6	24.6	76.7	−40.4	−1.5

Net profit trend

annual, ₹ crore

FY21

₹−14.1

FY22

₹23.8+269%

FY23

₹51+115%

FY24

₹38.9−24%

FY25

₹21.4−45%

FY26

₹52.4+145%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	12 Aug 2026	PDF on NSE XBRL
Q1 FY27	Standalone	12 Aug 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	10 Feb 2026	PDF on NSE XBRL
Q3 FY26	Standalone	10 Feb 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	12 Nov 2025	PDF on NSE XBRL
Q2 FY26	Standalone	12 Nov 2025	PDF on NSE XBRL
Q1 FY26	Consolidated	12 Aug 2025	PDF on NSE XBRL
Q1 FY26	Standalone	12 Aug 2025	PDF on NSE XBRL

Annual reports

NSE archive

FY262.83 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 33.1×55.4×

P/B5Y avg 1.67×2.30×

ROEFY26, on average equity6.9%

Net margin2.1%

Debt / equity0.90×

Revenue CAGR (3Y)2.5%

Profit CAGR (3Y)0.9%

EPS (TTM)₹2.39

Market cap₹1,789 Cr

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

P/B vs history

2.30×

vs 8-point avg 1.67× (+37%)

1.12× low1.67× avg2.73× high

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

Balance sheet 31 Mar 2026

Total assets₹2,142 Cr+7%

Net worth₹779 Cr+7%

Total borrowings₹702 Cr+4%

Cash & bank balances₹13 Cr+22%

Investments₹6 Cr+37%

Inventories₹282 Cr−8%

Trade receivables₹352 Cr−5%

Trade payables₹471 Cr+9%

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	50.33	50.34	50.34	50.34	50.34	50.34	50.34	50.34	50.34	50.34	50.34	50.34
FII	3.58	2.14	2.01	3.03	1.35	1.57	1.62	1.49	1.28	1.84	1.11	1.12
DII	0.24	0.09	0.00	0.03	–	0.00	0.00	0.00	0.00	0.02	0.00	0.00
Retail	36.97	38.87	39.35	39.19	40.74	40.70	40.64	40.58	40.80	40.02	40.67	43.38
Other public	8.88	8.56	8.30	7.41	7.57	7.39	7.40	7.59	7.58	7.78	7.88	5.16

1,00,407 shareholders · NSE shareholding pattern filings.