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 | Q2 FY23 | Q1 FY23 | Q4 FY22 | Q3 FY22 | Q2 FY22 | Q1 FY22 | Q4 FY21 | Q3 FY21 | Q2 FY21 | Q4 FY20 | Q3 FY20 | Q2 FY20 | Q4 FY17 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 138 | 156 | 131 | 134 | 153 | 178 | 148 | 145 | 128 | 144 | 146 | 119 | 126 | 136 | 111 | 110 | 106 | 96.5 | 90.9 | 65.2 | 112 | 92.5 | 76.8 | 83.4 | 93.3 | 82.1 | 0 |
| Other income | 0.9 | 0.9 | 0.8 | 3.3 | 1.6 | 6.8 | 0.8 | 1.4 | 0.9 | 2.6 | 1.6 | 2.3 | 1.6 | 3.5 | 1.2 | 1.5 | 2.1 | 2.6 | 0.1 | 0 | 6.6 | 0 | 0.1 | 0.6 | 0.4 | 0.1 | 0 |
| Total expenses | 160 | 165 | 154 | 151 | 172 | 194 | 173 | 166 | 156 | 173 | 159 | 147 | 138 | 149 | 123 | 121 | 114 | 112 | 108 | 82.2 | 122 | 95 | 80.3 | 126 | 101 | 89.7 | 0 |
| EBITDA | −12.2 | 2.1 | −10.6 | −6.3 | −7.5 | −7.4 | −15.3 | −12.8 | −21.2 | −22.5 | −7 | −20.1 | −4.6 | −6.1 | −4.7 | −3.4 | 0.2 | −6 | −7.8 | −8.9 | −1.3 | 5.8 | 4.5 | −33.8 | 0.1 | 0 | 0 |
| EBITDA margin | -8.8% | 1.3% | -8.1% | -4.7% | -4.9% | -4.1% | -10.3% | -8.9% | -16.5% | -15.6% | -4.8% | -16.9% | -3.7% | -4.5% | -4.3% | -3.1% | 0.2% | -6.2% | -8.6% | -13.6% | -1.2% | 6.2% | 5.9% | -40.5% | 0.1% | 0.0% | – |
| Finance costs | 4.9 | 5.7 | 7.1 | 6.5 | 6.2 | 4.9 | 5.4 | 4.4 | 2.9 | 2.2 | 2.5 | 4.3 | 4 | 3.8 | 4.1 | 4.4 | 5.7 | 6.1 | 5.7 | 4.8 | 5.2 | 4.9 | 4.7 | 5.4 | 5.1 | 5.1 | 0 |
| Depreciation | 5.1 | 5.1 | 5.2 | 4.7 | 4.5 | 4.1 | 4.1 | 3.8 | 3.8 | 4.4 | 3.7 | 3.5 | 3.3 | 3.2 | 3.1 | 3.4 | 3.3 | 3.4 | 3.5 | 3.3 | 3.3 | 3.3 | 3.3 | 3.3 | 2.8 | 2.6 | 0 |
| Profit before tax | −21.3 | −7.8 | −26.7 | −14.1 | −16.7 | −9.5 | −24 | −19.6 | −27 | −26.4 | −11.5 | −25.6 | −10.3 | −9.6 | −10.8 | −9.6 | −12.7 | −15.2 | −16.8 | −19.4 | −3.2 | −2.4 | −3.3 | −35 | −7.4 | −7.5 | 0 |
| Tax | 0 | −0.4 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 25.4 | 4.6 | 0.3 | −12.7 | −2.3 | −2.2 | 0 |
| Net profit | −21.3 | −7.4 | −26.7 | −14.1 | −16.7 | −9.5 | −24 | −19.6 | −27 | −26.4 | −11.5 | −25.6 | −10.3 | −9.6 | −10.8 | −9.6 | −12.7 | −15.2 | −16.8 | −19.4 | −28.6 | −7 | −3.7 | −22.4 | −5.1 | −5.3 | 0 |
| Net margin | -15.4% | -4.7% | -20.3% | -10.6% | -10.9% | -5.4% | -16.2% | -13.6% | -21.1% | -18.3% | -7.9% | -21.5% | -8.2% | -7.1% | -9.7% | -8.8% | -12.1% | -15.8% | -18.5% | -29.8% | -25.6% | -7.6% | -4.8% | -26.8% | -5.5% | -6.4% | – |
| EPS (₹) | -2.54 | -0.88 | -3.18 | -1.69 | -1.99 | -1.14 | -2.86 | -2.34 | -3.23 | -3.16 | -1.40 | -3.55 | -1.42 | -1.33 | -1.49 | -1.33 | -2.27 | -2.81 | -3.10 | -3.89 | -5.26 | -1.29 | -0.68 | -4.12 | -0.95 | -0.97 | 0.00 |
| Net profit YoY | −27.5% | +22.4% | −11.1% | +27.9% | +38.4% | +64.0% | −107.8% | +23.4% | −163.3% | −174.6% | – | −138.3% | −6.6% | +24.4% | +36.2% | +50.5% | +55.4% | −116.8% | −357.6% | – | −27.7% | −36.8% | +30.2% | – | – | – | – |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY17 |
|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 576 | 599 | 535 | 486 | 358 | 326 | 344 | 278 |
| Other income | 6.5 | 9.8 | 8.1 | 7.2 | 4.6 | 7.2 | 1.1 | 0.6 |
| Total expenses | 643 | 689 | 617 | 529 | 416 | 355 | 408 | 346 |
| EBITDA | −22.4 | −56.7 | −54.2 | −14.8 | −22.5 | 3.6 | −33.5 | −34.2 |
| EBITDA margin | -3.9% | -9.5% | -10.1% | -3.0% | -6.3% | 1.1% | -9.8% | -12.3% |
| Finance costs | 25.3 | 17.6 | 13 | 15.9 | 22.2 | 19.3 | 19.9 | 25.9 |
| Depreciation | 19.6 | 15.8 | 14.8 | 12.7 | 13.5 | 13.3 | 10.9 | 7.9 |
| Profit before tax | −65.4 | −80.2 | −73.9 | −36.2 | −64.2 | −23.8 | −56.2 | −67.4 |
| Tax | −0.4 | 0 | 0 | 0 | 0 | 26.1 | −18 | −21.8 |
| Net profit | −65 | −80.2 | −73.9 | −36.2 | −64.2 | −49.9 | −38.2 | −45.6 |
| Net margin | -11.3% | -13.4% | -13.8% | -7.4% | -17.9% | -15.3% | -11.1% | -16.4% |
| EPS (₹) | -7.76 | -9.58 | -9.52 | -5.01 | -11.46 | -9.28 | -7.03 | -24.04 |
| Net profit YoY | +19.0% | −8.5% | −104.3% | +43.7% | −28.8% | −30.6% | – | – |
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 | 31.4 | −58.6 | 17.7 | −47.9 | −40.3 |
| Investing cash flow | −9.2 | −14.4 | −51.4 | −83.8 | −3.3 |
| Financing cash flow | −24.1 | 27.3 | 62.8 | −6.9 | 206 |
| Capital expenditure | 0 | 32.2 | 57.2 | 11.2 | 4.8 |
| Free cash flow (CFO − capex) | 31.4 | −90.9 | −39.5 | −59.1 | −45.1 |
Net profit trend
annual, ₹ croreFY21
₹−49.9
FY22
₹−64.2−29%
FY23
₹−36.2+44%
FY24
₹−73.9−104%
FY25
₹−80.2−9%
FY26
₹−65+19%
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 | 28 May 2026 | PDF on NSE XBRL |
| Q4 FY26 | Standalone · audited | 28 May 2026 | PDF on NSE XBRL |
| Q3 FY26 | Consolidated | 12 Feb 2026 | PDF on NSE XBRL |
| Q3 FY26 | Standalone | 12 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 | 11 Aug 2025 | PDF XBRL |
| Q1 FY26 | Standalone | 11 Aug 2025 | PDF XBRL |
Annual reports
NSE archiveKey ratios
P/E (TTM)-9.3×
P/B5Y avg 3.06×2.56×
ROEFY26, on average equity-22.9%
Net margin-11.3%
Debt / equity0.63×
Revenue CAGR (3Y)5.8%
Profit CAGR (3Y)–
EPS (TTM)₹-8.30
Market cap₹643 Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
2.56×
vs 8-point avg 3.06× (−16%)
1.20× low3.06× avg4.25× high
History points are balance-sheet dates (2022 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹641 Cr−9%
Net worth₹251 Cr−20%
Total borrowings₹157 Cr+3%
Cash & bank balances₹7 Cr+1%
Investments₹0 Cr
Inventories₹102 Cr−24%
Trade receivables₹138 Cr−6%
Trade payables₹176 Cr−8%
Change vs the same date a year earlier.