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 | 229 | 230 | 215 | 233 | 177 | 229 | 210 | 229 | 223 | 233 | 213 | 205 | 193 | 214 | 210 | 203 | 211 | 195 | 167 | 171 | 91 | 98.7 | 92.5 | 95.1 | 49.1 | 76.2 | 86 | 89.4 | 84 | 86.5 | 81.4 | 89.2 | 86.6 | 88.1 |
| Other income | 1 | 3.7 | 0.8 | 0.6 | 0.4 | 4.8 | 3.2 | 1.1 | 3.4 | 1.9 | 0.4 | 0.5 | 2.3 | 0.3 | 0.4 | 0.4 | 0.2 | −1.6 | 2.7 | 0.2 | 0.2 | 2.9 | 0.7 | 0.3 | 0.4 | 1.7 | 0.4 | 0.5 | 0.9 | 4.9 | 3.1 | 0.2 | 0.3 | 0.3 |
| Total expenses | 227 | 220 | 208 | 226 | 196 | 220 | 198 | 214 | 210 | 219 | 198 | 191 | 179 | 199 | 197 | 168 | 174 | 173 | 160 | 161 | 101 | 94.4 | 87.7 | 87.3 | 53.2 | 75.9 | 82.2 | 83.4 | 77.9 | 85.1 | 81.1 | 84.3 | 78.8 | 75.1 |
| EBITDA | 18.2 | 26.4 | 23.4 | 23.1 | −2 | 23.1 | 27.2 | 29.5 | 25.6 | 29.2 | 30.7 | 28.9 | 28.9 | 28.2 | 26.5 | 47.1 | 47.5 | 31.6 | 19 | 21.9 | 1.5 | 10.9 | 9.7 | 13.1 | 1.3 | 1.8 | 12.4 | 11.2 | 11.5 | 8.6 | 5.8 | 9.8 | 12.6 | 17.4 |
| EBITDA margin | 8.0% | 11.4% | 10.9% | 9.9% | -1.1% | 10.1% | 12.9% | 12.9% | 11.4% | 12.5% | 14.4% | 14.1% | 15.0% | 13.2% | 12.6% | 23.2% | 22.5% | 16.2% | 11.4% | 12.8% | 1.7% | 11.0% | 10.5% | 13.7% | 2.7% | 2.4% | 14.4% | 12.5% | 13.7% | 9.9% | 7.1% | 11.0% | 14.5% | 19.8% |
| Finance costs | 7.8 | 7.6 | 8 | 6.9 | 8.3 | 7.1 | 7.4 | 7.5 | 5.1 | 8 | 8.4 | 8.3 | 7.5 | 6.5 | 6.5 | 5.6 | 4.9 | 2.9 | 5.7 | 5.8 | 5.9 | 3.4 | 2.7 | 3.1 | 3.3 | −0.6 | 6.5 | 2.9 | 3.3 | 4.9 | 3.3 | 2.8 | 2.6 | 2.5 |
| Depreciation | 8.9 | 8.7 | 8.6 | 8.4 | 8.3 | 7.4 | 7.5 | 7.5 | 7.3 | 7.3 | 7.4 | 7.4 | 7.2 | 6.3 | 7.1 | 6.5 | 6.1 | 6.3 | 6.1 | 6 | 5.9 | 3.2 | 2.2 | 2.2 | 2.2 | 2.2 | 2.2 | 2.2 | 2.2 | 2.2 | 2.2 | 2.1 | 2.1 | 2 |
| Profit before tax | 2.5 | 13.7 | 7.6 | 8.4 | −18.1 | 15.4 | 15.5 | 15.6 | 16.5 | 15.9 | 15.2 | 13.8 | 16.4 | 15.7 | 13.4 | 35.4 | 36.7 | 20.7 | 9.8 | 10.3 | −10.1 | 7.3 | 7.1 | 8 | −3.7 | 2 | 4.1 | 6.6 | 7 | 6.3 | 3.4 | 5.1 | 8.1 | 13.3 |
| Tax | 0.5 | 3.5 | 1.9 | 2.4 | −4.5 | 2.5 | 4 | 4 | 4.2 | 6.9 | 3.9 | 3.2 | 4.2 | 2.1 | 3.2 | 8.8 | 9.5 | 5.2 | 2.5 | 2.6 | −2.5 | 2.1 | 1.7 | 1.2 | −0.1 | 3.4 | −5.2 | −2.5 | 1 | 2.5 | 1.3 | 1.9 | 3 | 4.3 |
| Net profit | 2 | 10.2 | 5.7 | 6 | −13.7 | 12.9 | 11.5 | 11.6 | 12.3 | 9 | 11.4 | 10.6 | 12.2 | 13.6 | 10.2 | 26.7 | 27.2 | 15.4 | 7.3 | 7.7 | −7.6 | 5.2 | 5.3 | 6.8 | −3.6 | −1.4 | 9.3 | 9.1 | 6 | 3.8 | 2.1 | 3.2 | 5.2 | 9 |
| Net margin | 0.9% | 4.4% | 2.6% | 2.6% | -7.7% | 5.6% | 5.5% | 5.1% | 5.5% | 3.9% | 5.3% | 5.2% | 6.3% | 6.3% | 4.9% | 13.1% | 12.9% | 7.9% | 4.4% | 4.5% | -8.3% | 5.3% | 5.8% | 7.2% | -7.4% | -1.8% | 10.9% | 10.2% | 7.1% | 4.4% | 2.6% | 3.6% | 6.0% | 10.3% |
| EPS (₹) | 0.07 | 0.35 | 0.20 | 0.21 | -0.48 | 0.46 | 0.42 | 0.43 | 4.61 | 3.36 | 4.26 | 3.88 | 5.31 | 6.81 | 5.14 | 13.40 | 13.66 | 7.74 | 3.66 | 3.86 | -3.81 | 3.07 | 3.48 | 4.57 | -2.43 | -0.92 | 6.26 | 6.08 | 4.02 | 2.57 | 1.43 | 2.15 | 3.49 | 6.21 |
| Net profit YoY | +114.8% | −20.6% | −50.7% | −48.5% | −211.1% | +43.1% | +1.3% | +9.9% | +1.0% | −33.6% | +11.0% | −60.5% | −55.2% | −12.0% | +40.4% | +247.2% | +458.7% | +197.0% | +36.7% | +12.7% | −109.4% | +477.2% | −42.9% | −24.9% | −160.3% | −135.9% | +339.7% | +184.1% | +15.9% | – | – | – | – | – |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY17 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 856 | 891 | 844 | 838 | 624 | 335 | 336 | 344 | 91.9 |
| Other income | 5.6 | 12.5 | 2.9 | 1.4 | 1.4 | 4.3 | 3.5 | 8.5 | 1 |
| Total expenses | 850 | 843 | 786 | 739 | 595 | 323 | 319 | 329 | 83.7 |
| EBITDA | 70.8 | 105 | 120 | 149 | 73.9 | 35 | 36.9 | 36.6 | 12.5 |
| EBITDA margin | 8.3% | 11.8% | 14.2% | 17.8% | 11.8% | 10.4% | 11.0% | 10.7% | 13.6% |
| Finance costs | 30.8 | 27.1 | 32.2 | 23.5 | 20.3 | 12.4 | 12 | 13.6 | 2.5 |
| Depreciation | 34 | 29.7 | 29.3 | 26 | 24.4 | 9.7 | 8.7 | 8.6 | 1.8 |
| Profit before tax | 11.6 | 63 | 61.3 | 101 | 30.7 | 18.7 | 19.7 | 22.9 | 9.2 |
| Tax | 3.4 | 14.7 | 18.2 | 23.6 | 7.9 | 4.9 | −3.3 | 8.6 | 2.5 |
| Net profit | 8.2 | 48.3 | 43.1 | 77.7 | 22.8 | 13.7 | 23 | 14.3 | 6.7 |
| Net margin | 1.0% | 5.4% | 5.1% | 9.3% | 3.7% | 4.1% | 6.9% | 4.2% | 7.3% |
| EPS (₹) | 0.28 | 1.77 | 16.80 | 39.02 | 11.45 | 8.11 | 15.44 | 9.62 | 4.66 |
| Net profit YoY | −83.0% | +12.1% | −44.5% | +240.6% | +66.2% | −40.5% | +60.8% | – | – |
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 | 88.7 | 108 | 40.9 | 115 | −6.7 |
| Investing cash flow | −62.4 | −96.5 | −35.3 | −76.1 | −14.9 |
| Financing cash flow | −26.3 | −11.9 | −5.6 | −38.8 | 20.6 |
| Capital expenditure | 67.8 | 104 | 24.5 | 73.1 | 30.4 |
| Free cash flow (CFO − capex) | 20.9 | 4.8 | 16.5 | 41.8 | −37.1 |
Net profit trend
annual, ₹ croreFY21
₹13.7
FY22
₹22.8+66%
FY23
₹77.7+241%
FY24
₹43.1−44%
FY25
₹48.3+12%
FY26
₹8.2−83%
Result filings
as filed with NSE · PDF and XBRL| Period | Basis | Filed | Documents |
|---|---|---|---|
| Q1 FY27 | Consolidated | 8 Aug 2026 | PDF on NSE XBRL |
| Q1 FY27 | Standalone | 8 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 | 28 Jan 2026 | PDF on NSE XBRL |
| Q3 FY26 | Standalone | 28 Jan 2026 | PDF on NSE XBRL |
| Q2 FY26 | Consolidated | 8 Nov 2025 | PDF on NSE XBRL |
| Q2 FY26 | Standalone | 8 Nov 2025 | PDF on NSE XBRL |
| Q1 FY26 | Consolidated | 11 Aug 2025 | PDF on NSE XBRL |
| Q1 FY26 | Standalone | 11 Aug 2025 | PDF on NSE XBRL |
Annual reports
NSE archiveKey ratios
P/E (TTM)5Y avg 21.8×19.8×
P/B5Y avg 1.72×0.72×
ROEFY26, on average equity1.3%
Net margin1.0%
Debt / equity0.40×
Revenue CAGR (3Y)0.7%
Profit CAGR (3Y)-52.8%
EPS (TTM)₹0.81
Market cap₹472 Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
0.72×
vs 8-point avg 1.72× (−58%)
0.58× low1.72× avg4.02× high
History points are balance-sheet dates (2022 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹1,292 Cr+5%
Net worth₹652 Cr+3%
Total borrowings₹260 Cr−3%
Cash & bank balances₹0 Cr−15%
Investments₹4 Cr−3%
Inventories₹262 Cr+9%
Trade receivables₹195 Cr+6%
Trade payables₹266 Cr+21%
Change vs the same date a year earlier.
Revenue mix FY26
Medium Density Fiber Board71.5%result ₹26.5 Cr
Laminates & allied products24.4%result ₹13.9 Cr
Polyvinyl Chloride Board4.1%result ₹2 Cr
Segment revenue as reported, before inter-segment eliminations.