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Quarterly results

standalone · 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	Q1 FY20	Q4 FY19	Q3 FY19	Q2 FY19	Q1 FY19	Q4 FY17
Revenue from operations	175	182	132	167	169	162	168	165	164	160	159	170	169	181	202	221	199	191	148	148	126	141	117	98.9	58.1	107	118	125	131	129	124	130	111	107
Other income	1.6	1.6	1.2	1.3	0.9	2.2	1.6	0.1	0.7	1	1.1	0.6	0	0.2	0.5	0.6	0.4	0.8	0.3	0.3	0	0.8	0.1	0.1	0.2	1	0.2	0.2	0.2	1	0.3	0.4	0.2	1.6
Total expenses	168	171	130	147	147	141	147	142	143	148	150	156	140	156	180	195	184	170	141	140	120	129	117	100	64.2	107	116	117	117	113	110	113	96.5	100
EBITDA	15.1	19.9	8.8	24.7	27.4	26.5	25.8	28.4	26.4	15.4	13.6	18.7	34.1	29.8	27.6	31.4	20.5	26.1	12.9	13.6	11	16.8	5.3	3.6	−1.2	5.4	6.8	13	18.9	20.6	19.3	22.5	19.6	13
EBITDA margin	8.6%	10.9%	6.7%	14.8%	16.3%	16.4%	15.4%	17.1%	16.1%	9.6%	8.6%	11.0%	20.2%	16.5%	13.6%	14.2%	10.3%	13.7%	8.7%	9.2%	8.7%	11.9%	4.5%	3.6%	-2.0%	5.0%	5.8%	10.4%	14.4%	16.1%	15.5%	17.3%	17.7%	12.1%
Finance costs	3.2	3.3	2.9	0.8	1.5	1.2	1.1	0.9	1	0.8	0.9	0.9	0.9	0.9	1.1	1.6	1.5	1.4	1.6	1.6	1.5	1.4	1.3	1.5	1.5	1.5	1.8	1.7	1.8	2	1.7	2.6	1.9	2.4
Depreciation	5.2	5.3	4.2	4.2	4.1	4.3	4.3	4.3	4.2	2.5	4	4.2	4.1	3.9	3.8	3.8	3.7	3.8	3.7	3.5	3.4	3.4	3.5	3.5	3.4	3.4	3.5	3.4	3.4	3.1	3.3	3.4	3.3	3.3
Profit before tax	8.2	12.9	2.9	21.1	22.7	23.2	22	23.3	21.9	13	9.7	14.2	29.2	25.2	23.1	26.6	15.7	21.7	7.9	8.8	6.1	12.9	0.5	−1.3	−5.9	1.4	1.9	8	13.9	16.5	14.1	17.1	14.8	8.9
Tax	2.1	3.4	0.8	5.5	5.7	4.8	5.5	5.6	7.1	3.4	2.5	3.6	7.4	6.4	5.9	6.7	4	5.6	2	2.2	1.6	3	0.1	−0.6	−1.3	0.7	0.5	−8.2	4.7	6.3	4.7	6.2	5	3
Net profit	6.1	9.5	2	15.6	16.9	18.4	16.5	17.7	14.8	9.6	7.2	10.6	21.8	18.9	17.2	19.9	11.6	16.1	5.9	6.6	4.5	9.9	0.4	−0.7	−4.5	0.6	1.4	16.2	9.1	10.3	9.3	10.9	9.7	5.9
Net margin	3.5%	5.2%	1.5%	9.4%	10.0%	11.4%	9.8%	10.7%	9.0%	6.0%	4.5%	6.2%	12.9%	10.4%	8.5%	9.0%	5.9%	8.5%	3.9%	4.5%	3.6%	7.0%	0.3%	-0.8%	-7.8%	0.6%	1.2%	13.0%	7.0%	8.0%	7.5%	8.4%	8.8%	5.5%
EPS (₹)	2.06	3.19	0.68	5.23	5.69	6.17	5.52	5.92	4.95	3.23	2.41	3.55	7.29	6.32	5.78	7.33	4.45	6.39	2.42	2.73	1.86	4.07	0.17	-0.31	-1.87	0.26	0.58	6.69	3.76	4.23	3.85	4.82	4.31	2.73
Net profit YoY	−63.7%	−48.2%	−87.6%	−11.8%	+14.6%	+91.0%	+128.7%	+67.0%	−32.1%	−48.9%	−58.2%	−46.8%	+87.0%	+17.0%	+194.4%	+201.2%	+157.5%	+63.2%	+1362.1%	+983.9%	+199.7%	+1495.7%	−71.8%	−104.6%	−149.7%	−94.0%	−84.8%	+48.9%	−6.4%	–	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY17
Revenue from operations	649	659	658	803	613	415	481	494	118
Other income	5	4.5	2.6	1.8	1.4	1.2	1.5	1.9	0.7
Total expenses	594	573	594	714	570	410	458	433	106
EBITDA	80.8	107	81.8	109	63.7	24.5	44.1	82.1	15.9
EBITDA margin	12.5%	16.2%	12.4%	13.6%	10.4%	5.9%	9.2%	16.6%	13.5%
Finance costs	8.5	4.1	3.5	5	6.1	5.8	6.9	8.1	1.4
Depreciation	17.8	17	14.8	15.3	14.5	13.8	13.7	13.1	2.7
Profit before tax	59.5	90.4	66.1	90.6	44.5	6.2	25.1	62.4	12.5
Tax	15.4	23.1	16.9	23	11.4	1.2	−2.2	22.2	2.8
Net profit	44.1	66.9	49.2	67.6	33.1	5	27.4	40.2	9.7
Net margin	6.8%	10.1%	7.5%	8.4%	5.4%	1.2%	5.7%	8.1%	8.3%
EPS (₹)	14.79	22.56	16.48	22.66	13.13	2.06	11.29	17.43	4.13
Net profit YoY	−34.0%	+36.0%	−27.3%	+104.4%	+562.6%	−81.8%	−32.0%	–	–

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	64.9	91.9	41.3	61.9	35
Investing cash flow	−140	−114	−25.6	−36	−25.6
Financing cash flow	74.5	22.6	−15.7	−25.7	−9.4
Capital expenditure	236	36.3	28.3	37.8	27.1
Free cash flow (CFO − capex)	−172	55.7	13	24.2	7.9

Net profit trend

annual, ₹ crore

FY21

₹5

FY22

₹33.1+563%

FY23

₹67.6+104%

FY24

₹49.2−27%

FY25

₹66.9+36%

FY26

₹44.1−34%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Standalone	12 Aug 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	28 May 2026	PDF on NSE XBRL
Q3 FY26	Standalone	13 Feb 2026	PDF on NSE XBRL
Q2 FY26	Standalone	13 Nov 2025	PDF XBRL
Q1 FY26	Standalone	11 Aug 2025	PDF on NSE XBRL
Q4 FY25	Standalone · audited	24 May 2025	PDF XBRL
Q3 FY25	Standalone	13 Feb 2025	PDF on NSE XBRL
Q2 FY25	Standalone	11 Nov 2024	PDF on NSE XBRL
Q1 FY25	Standalone	10 Aug 2024	PDF on NSE XBRL
Q4 FY24	Standalone · audited	27 May 2024	PDF on NSE XBRL

Annual reports

NSE archive

FY262.85 MB FY252.74 MB FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 5.7×9.4×

P/B5Y avg 0.84×0.63×

ROEFY26, on average equity9.2%

Net margin6.8%

Debt / equity0.37×

Revenue CAGR (3Y)-6.8%

Profit CAGR (3Y)-13.3%

EPS (TTM)₹11.16

Market cap₹313 Cr

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

P/B vs history

0.63×

vs 8-point avg 0.84× (−24%)

0.58× low0.84× avg1.04× high

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

Balance sheet 31 Mar 2026

Total assets₹764 Cr+25%

Net worth₹495 Cr+6%

Total borrowings₹183 Cr

Cash & bank balances₹1 Cr−54%

Investments₹0 Cr−100%

Inventories₹105 Cr+10%

Trade receivables₹90 Cr+13%

Trade payables₹13 Cr+119%

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	68.67	68.67	68.67	68.67	68.67	68.67	68.67	68.67	68.67	68.67	68.67	68.67
FII	0.86	0.90	0.90	0.96	1.30	0.91	0.97	1.03	0.86	0.85	0.87	1.13
DII	0.03	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Retail	26.61	26.84	26.97	26.63	26.42	26.71	26.71	26.52	27.42	27.23	27.21	27.38
Other public	3.83	3.59	3.46	3.74	3.61	3.71	3.65	3.78	3.05	3.25	3.25	2.82

28,093 shareholders · NSE shareholding pattern filings.