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Quarterly results

consolidated · as filed with NSE · Q1 FY27 back to Q2 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 FY19	Q2 FY18
Revenue from operations	1,652	1,358	2,158	2,251	2,400	2,107	2,017	2,422	2,207	2,205	2,143	2,227	1,900	2,075	2,339	2,230	2,075	2,189	2,274	2,233	2,321	2,372	2,513	2,534	2,575	2,950	4,237	3,980
Other income	30.9	3.7	0.3	9.9	9.1	25	2.6	2.7	29.6	50.5	69.1	15.1	15.2	1.8	0.6	1.6	2.5	1.8	3.4	0.3	5.1	50.3	1.5	47.3	3.6	4.2	243	275
Total expenses	1,357	4,959	1,739	1,835	1,941	1,677	1,602	6,110	1,799	1,823	1,813	1,821	1,519	1,657	1,935	1,838	1,692	1,819	1,854	1,843	1,956	2,065	2,078	2,168	2,224	2,860	3,093	2,869
EBITDA	1,651	−1,898	1,898	1,722	1,676	1,505	1,628	−2,429	1,736	1,693	1,664	1,779	1,753	1,782	1,817	1,824	1,897	1,933	2,018	1,979	1,935	1,923	2,167	2,181	2,224	2,244	3,605	3,679
EBITDA margin	99.9%	-139.8%	87.9%	76.5%	69.8%	71.4%	80.7%	-100.3%	78.6%	76.8%	77.7%	79.9%	92.3%	85.9%	77.7%	81.8%	91.4%	88.3%	88.7%	88.6%	83.4%	81.1%	86.2%	86.1%	86.4%	76.1%	85.1%	92.4%
Finance costs	1,335	1,679	1,458	1,286	1,196	1,050	1,194	1,238	1,309	1,291	1,312	1,350	1,354	1,342	1,389	1,410	1,495	1,543	1,577	1,571	1,552	1,594	1,706	1,792	1,847	2,126	2,449	2,556
Depreciation	20.1	25	21.1	21.2	21	24.7	19.7	19.8	18.9	20.5	22.6	22.9	18.5	22	23	22.6	18	19.8	20.4	18.7	18.5	22.7	25.2	22.5	26.3	27.9	11.4	10.9
Profit before tax	326	−10,097	419	425	468	455	417	−3,685	437	432	399	422	396	420	405	393	386	372	424	390	369	357	437	413	354	94.4	1,388	1,387
Tax	82.7	−1,995	105	117	134	131	115	−924	110	112	96.4	124	100	160	114	103	99.2	65.7	121	103	87.8	80.6	108	90.2	81.6	−32.5	415	352
Net profit	243	−8,101	314	308	334	324	302	−2,761	327	319	303	298	294	263	291	289	287	307	303	286	282	276	329	323	273	137	986	1,044
Net margin	14.7%	-596.7%	14.6%	13.7%	13.9%	15.4%	15.0%	-114.0%	14.8%	14.5%	14.1%	13.4%	15.5%	12.7%	12.4%	13.0%	13.8%	14.0%	13.3%	12.8%	12.1%	11.6%	13.1%	12.8%	10.6%	4.6%	23.3%	26.2%
EPS (₹)	2.13	-99.10	3.86	3.79	4.10	4.11	4.17	-44.23	5.43	5.70	6.37	6.54	6.60	5.81	6.49	6.45	6.40	6.88	6.80	6.43	6.32	6.20	7.39	7.62	6.51	3.27	23.09	24.48
Net profit YoY	−27.2%	−2600.1%	+3.8%	+111.2%	+2.3%	+1.4%	−0.1%	−1026.5%	+11.0%	+21.6%	+4.0%	+2.9%	+2.7%	−14.4%	−4.0%	+1.1%	+1.8%	+11.0%	−8.0%	−11.4%	+3.2%	+101.5%	–	–	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20
Revenue from operations	8,166	8,623	8,475	8,719	8,983	9,927	13,216
Other income	24.1	59.9	150	6.5	10.6	103	6.8
Total expenses	10,475	11,059	6,976	7,122	7,438	8,468	10,662
EBITDA	3,397	2,439	6,890	7,319	7,864	8,495	11,174
EBITDA margin	41.6%	28.3%	81.3%	83.9%	87.5%	85.6%	84.5%
Finance costs	5,618	4,791	5,307	5,636	6,242	6,939	8,512
Depreciation	88.4	83	84.6	85.6	77.4	96.7	108
Profit before tax	−8,784	−2,376	1,649	1,604	1,556	1,562	2,561
Tax	−1,640	−568	432	476	378	360	395
Net profit	−7,145	−1,807	1,214	1,130	1,178	1,202	2,200
Net margin	-87.5%	-21.0%	14.3%	13.0%	13.1%	12.1%	16.6%
EPS (₹)	-87.72	-26.70	23.83	25.15	26.42	27.72	51.70
Net profit YoY	−295.3%	−248.8%	+7.5%	−4.1%	−2.0%	−45.4%	–

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	−7,466	8,772	−123	4,001	657
Investing cash flow	−1,540	−5,578	1,590	884	1,649
Financing cash flow	14,684	−2,373	−2,383	−9,142	−7,444
Capital expenditure	52.8	49.4	58.7	49.4	20
Free cash flow (CFO − capex)	−7,519	8,722	−182	3,952	637

Net profit trend

annual, ₹ crore

FY21

₹1,202

FY22

₹1,178−2%

FY23

₹1,130−4%

FY24

₹1,214+7%

FY25

₹−1,807−249%

FY26

₹−7,145−295%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	13 Aug 2026	PDF XBRL
Q1 FY27	Standalone	13 Aug 2026	PDF XBRL
Q4 FY26	Consolidated · audited	20 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	20 May 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	4 Feb 2026	PDF on NSE XBRL
Q3 FY26	Standalone	4 Feb 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	31 Oct 2025	PDF on NSE XBRL
Q2 FY26	Standalone	31 Oct 2025	PDF on NSE XBRL
Q1 FY26	Consolidated	13 Aug 2025	PDF on NSE XBRL
Q1 FY26	Standalone	13 Aug 2025	PDF on NSE XBRL

Annual reports

NSE archive

FY265.94 MB FY259.50 MB FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 12.7×-2.2×

P/B5Y avg 0.81×0.85×

ROEFY26, on average equity-35.0%

Net margin-87.5%

Debt / equity1.21×

Revenue CAGR (3Y)-2.2%

Profit CAGR (3Y)–

EPS (TTM)₹-63.26

Market cap₹16,083 Cr

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

P/B vs history

0.85×

vs 10-point avg 0.81× (+5%)

0.56× low0.81× avg1.01× high

History points are balance-sheet dates (2021 → 2026), priced at the adjusted close on each date.

Balance sheet 31 Mar 2026

Total assets₹74,243 Cr+6%

Net worth₹18,991 Cr−13%

Total borrowings₹23,000 Cr+4%

Cash & bank balances₹9,027 Cr+170%

Investments₹17,518 Cr+23%

Inventories₹0 Cr

Trade receivables₹19 Cr+34%

Change vs the same date a year earlier.

Shareholding 30 Jun 2026

%	Jun 26	Mar 26	Dec 25	Sept 25	Jun 25	Mar 25	Jan 25	Dec 24	Sept 24	Aug 24	Jun 24	Mar 24
Promoter	28.34	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FII	19.60	46.20	24.94	19.05	24.40	24.69	27.41	19.53	19.77	19.89	19.14	19.33
DII	7.99	12.61	14.39	16.83	5.96	5.91	6.72	6.71	6.49	6.73	6.83	7.25
of which MF	3.95	7.57	8.34	11.44	0.42	–	–	–	–	–	–	–
Retail	28.66	26.63	37.57	40.11	40.10	40.58	37.48	42.43	43.31	43.06	44.20	43.15
Other public	14.05	13.19	21.19	22.10	27.63	26.91	26.87	29.64	28.74	28.62	28.13	28.56

3,99,460 shareholders · NSE shareholding pattern filings.