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Quarterly results

consolidated · as filed with NSE · Q1 FY27 back to Q4 FY19

₹ 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
Revenue from operations	297	327	317	97.4	211	200	149	87.9	215	236	213	84.4	212	126	101	85.3	125	85.3	110	81.8	73	96.9	64.7	58.3	36.9	96.2	106	79.5	102	0
Other income	20	3.3	14.4	10.1	19.8	10.1	−10	22.4	7.9	3.1	5.8	13.8	12.8	−1.3	1.5	15.1	4.6	12.6	7.5	14.6	11.3	7.3	10.5	7.5	13.7	5	8.6	6.7	9.7	0
Total expenses	227	223	224	133	152	156	142	108	178	189	161	112	198	132	108	81.4	109	95.4	76.4	69.2	69.9	85.5	66.2	48.6	51.2	76.1	73.5	58.4	67.4	0
EBITDA	124	159	136	7.8	96.9	81.2	44.3	15.5	72.8	87.3	90.6	16.2	48	26.9	19.8	37.2	42.6	16.5	56.9	35	20.7	29.9	15.3	22.7	−1.1	34.3	47.5	36.7	50	0
EBITDA margin	41.7%	48.7%	42.8%	8.0%	45.9%	40.7%	29.6%	17.6%	33.9%	36.9%	42.5%	19.2%	22.7%	21.3%	19.7%	43.5%	34.0%	19.3%	52.0%	42.8%	28.3%	30.8%	23.7%	38.9%	-3.1%	35.6%	44.9%	46.2%	48.8%	–
Finance costs	4.5	5.8	6.5	5	3.5	4.1	3.4	4	3.9	5.1	4.5	10.9	2.5	1.2	2.2	1.7	1.7	2.6	1.4	1.5	1	0.8	1.4	1.2	1.4	1.2	1.4	1.3	1.1	0
Depreciation	49.9	49.2	35.8	38.1	34.1	33.5	33.5	31.6	32.1	35.3	33.9	33.4	32.2	31.4	24.5	31.5	24.6	24	22.4	20.9	16.6	17.6	15.5	11.7	11.8	12.9	13.6	14.3	13.8	0
Profit before tax	89.5	107	108	−25.1	79.1	53.7	−2.6	2.3	53.4	50.1	58.1	−14.3	26.1	−7.1	−5.3	19.1	20.9	2.6	40.6	27.2	14.5	18.7	70.9	17.3	−0.6	25.1	41.1	27.8	44.7	0
Tax	8.2	3.7	8.1	0.6	3.3	12.7	0.6	2.1	3.5	−2.7	1.6	0.2	0.2	−2.4	−3.7	2	−1.9	−2.3	0.3	1.3	1.8	0.9	2.1	1.8	2.7	2.3	1.4	1	0.8	0
Net profit	81.3	104	99.8	−25.7	75.8	41	−3.2	0.2	50	52.7	56.4	−14.5	25.9	−4.7	−1.7	17.1	22.8	4.9	40.3	25.8	12.7	17.8	68.8	15.5	−3.3	22.8	39.7	26.8	44	0
Net margin	27.4%	31.7%	31.5%	-26.4%	35.9%	20.5%	-2.2%	0.2%	23.2%	22.3%	26.4%	-17.1%	12.2%	-3.7%	-1.6%	20.0%	18.2%	5.7%	36.8%	31.6%	17.4%	18.3%	106.3%	26.6%	-8.9%	23.6%	37.5%	33.7%	42.9%	–
EPS (₹)	31.95	40.70	39.18	-10.81	29.80	16.91	-1.31	0.04	19.61	20.72	22.18	5.69	10.19	-2.00	-0.70	6.72	8.96	1.92	15.83	10.16	4.96	6.99	27.05	6.09	-1.29	8.95	15.62	10.55	17.29	0.00
Net profit YoY	+7.3%	+152.8%	+3188.5%	−16181.3%	+51.7%	−22.2%	−105.7%	+101.1%	+92.9%	+1234.2%	+3498.8%	−184.6%	+13.6%	−195.1%	−104.1%	−33.8%	+79.4%	−72.5%	−41.5%	+66.7%	+487.2%	−21.9%	+73.3%	−42.2%	−107.5%	–	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19
Revenue from operations	952	652	729	437	350	257	384	314
Other income	47.6	30.4	28.9	20	46	39	29.9	29.6
Total expenses	731	584	638	430	311	251	275	258
EBITDA	400	214	242	126	129	66.7	168	111
EBITDA margin	42.0%	32.8%	33.2%	28.9%	36.9%	26.0%	43.9%	35.5%
Finance costs	20.8	15.5	16.3	6.8	6.4	4.8	5.1	3.4
Depreciation	157	131	135	112	83.9	56.6	54.6	51.9
Profit before tax	269	107	120	27.6	84.8	106	139	85.7
Tax	15.7	18.9	−0.6	−6	1.1	7.5	5.4	3.9
Net profit	254	87.9	121	33.6	83.7	98.8	133	81.9
Net margin	26.6%	13.5%	16.5%	7.7%	23.9%	38.5%	34.7%	26.1%
EPS (₹)	98.87	35.25	47.08	13.00	32.92	38.85	52.41	32.19
Net profit YoY	+188.4%	−27.1%	+259.5%	−59.9%	−15.3%	−25.9%	+62.8%	–

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	321	299	150	53.3	161
Investing cash flow	−392	−165	−318	−5	−194
Financing cash flow	93.7	−112	142	−41.8	42.9
Capital expenditure	379	53.9	322	292	205
Free cash flow (CFO − capex)	−58.1	245	−172	−239	−44.1

Net profit trend

annual, ₹ crore

FY21

₹98.8

FY22

₹83.7−15%

FY23

₹33.6−60%

FY24

₹121+260%

FY25

₹87.9−27%

FY26

₹254+188%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	13 Aug 2026	PDF on NSE XBRL
Q1 FY27	Standalone	13 Aug 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	18 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	18 May 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	30 Jan 2026	PDF on NSE XBRL
Q3 FY26	Standalone	30 Jan 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	10 Nov 2025	PDF XBRL
Q2 FY26	Standalone	10 Nov 2025	PDF XBRL
Q1 FY26	Consolidated	13 Aug 2025	PDF XBRL
Q1 FY26	Standalone	13 Aug 2025	PDF XBRL

Annual reports

NSE archive

FY264.59 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 27.6×16.8×

P/B5Y avg 2.69×3.35×

ROEFY26, on average equity22.0%

Net margin26.6%

Debt / equity0.25×

Revenue CAGR (3Y)29.6%

Profit CAGR (3Y)96.2%

EPS (TTM)₹101.88

Market cap₹4,354 Cr

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

P/B vs history

3.35×

vs 8-point avg 2.69× (+24%)

1.91× low2.69× avg3.73× high

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

Balance sheet 31 Mar 2026

Total assets₹1,861 Cr+35%

Net worth₹1,302 Cr+29%

Total borrowings₹328 Cr+55%

Cash & bank balances₹77 Cr+117%

Investments₹367 Cr+10%

Inventories₹56 Cr+29%

Trade receivables₹312 Cr+96%

Trade payables₹58 Cr+8%

Change vs the same date a year earlier.

Revenue mix FY26

Domestic78.3%result ₹226 Cr

Overseas21.7%result ₹20 Cr

Segment revenue as reported, before inter-segment eliminations.

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	72.72	72.72	72.72	72.72	72.31	72.31	72.31	72.31	72.31	72.04	72.04	72.04
FII	5.93	3.73	3.35	3.61	3.25	3.05	3.44	4.08	3.80	3.15	3.05	2.65
DII	4.38	4.48	4.07	3.74	6.17	6.63	6.46	6.21	5.02	5.39	1.77	0.00
of which MF	3.59	3.59	3.59	3.59	5.85	–	–	–	–	–	–	–
Retail	10.36	10.62	10.55	11.01	9.90	9.80	9.78	10.47	11.96	10.34	12.98	14.38
Other public	6.61	8.45	9.31	8.92	8.37	8.21	8.01	6.93	6.91	9.08	10.16	10.93

18,049 shareholders · NSE shareholding pattern filings.