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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	Q3 FY23	Q2 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	Q4 FY17
Revenue from operations	350	341	420	280	1,644	1,639	1,437	1,329	1,291	1,377	1,177	1,142	1,132	1,210	1,080	907	782	585	606	446	642	562	488	346	667	700	633	639	620	605	644	761
Other income	3.1	3.4	2.9	0.1	0.4	1.1	0.6	1	0.5	2.4	1.8	0.6	0.5	0.9	3.6	2.9	0.9	0.2	1.3	0.7	1.5	2.2	1.6	1	2.8	1.1	0.6	0.5	2.2	0.4	1.6	0.1
Total expenses	352	333	421	286	1,602	1,603	1,413	1,310	1,270	1,347	1,151	1,119	1,109	1,185	1,061	890	762	580	595	438	628	540	484	373	655	685	623	628	620	602	633	725
EBITDA	6.1	13.2	5	−0.6	58.5	51.4	40.2	36.6	40.7	43	38.4	35.7	34	35.4	29.2	26.6	30.2	15.1	20.8	18.5	26.5	36.2	18.6	−10.3	27.1	32.1	26.7	31.2	16.4	23	31.1	54.1
EBITDA margin	1.7%	3.9%	1.2%	-0.2%	3.6%	3.1%	2.8%	2.8%	3.2%	3.1%	3.3%	3.1%	3.0%	2.9%	2.7%	2.9%	3.9%	2.6%	3.4%	4.2%	4.1%	6.4%	3.8%	-3.0%	4.1%	4.6%	4.2%	4.9%	2.7%	3.8%	4.8%	7.1%
Finance costs	5	3.9	3.5	3.4	12.1	11.6	12.2	13	15.5	9.3	7.9	7.8	7.4	6.1	5.9	6	5.9	6.3	6	6.2	7.4	8.2	8	9.5	10.6	10.3	11.2	11.3	12.4	15.2	15.2	13.7
Depreciation	2.3	2	2.1	2.1	4	4.1	4.2	4.2	4.2	4	4	4	3.9	4.2	4.1	3.9	4.2	4.2	4.3	4.5	4.9	5.7	6.7	6.7	4.6	6.6	5.7	8.5	4.6	4.9	4.6	4.3
Profit before tax	2	10.7	1.9	−5.9	42.9	36.8	24.5	20.4	21.5	32.2	28.3	24.5	23.2	25.9	22.8	19.7	20.9	4.8	11.8	8.5	15.7	24.4	5.4	−25.5	14.8	16.3	10.4	11.8	1.6	3.4	12.9	36.2
Tax	0.4	3.3	0.7	−0.8	10.5	8.4	6.8	5.2	5.5	8	6.9	6.3	5.9	6.8	6.4	4.1	5.3	1.3	2.8	2.2	4.7	2.6	−0.8	−0.2	3.9	3.3	0.4	3.6	−0	0.9	3.7	14.6
Net profit	1.5	7.4	1.2	−5.2	32.4	28.5	17.7	15.2	16.1	24.2	21.4	18.2	17.3	19.1	16.4	15.5	15.6	3.5	9	6.3	11.1	21.8	6.3	−25.3	11.3	11.5	10.3	6.8	1.6	2.5	9.1	21.6
Net margin	0.4%	2.2%	0.3%	-1.8%	2.0%	1.7%	1.2%	1.1%	1.2%	1.8%	1.8%	1.6%	1.5%	1.6%	1.5%	1.7%	2.0%	0.6%	1.5%	1.4%	1.7%	3.9%	1.3%	-7.3%	1.7%	1.6%	1.6%	1.1%	0.3%	0.4%	1.4%	2.8%
EPS (₹)	0.64	3.03	0.51	-2.13	13.36	11.73	7.29	6.27	6.62	10.01	9.06	7.97	7.56	8.38	7.16	6.79	6.81	1.54	3.92	2.74	4.85	9.55	2.74	-11.07	4.76	5.69	4.37	3.62	0.71	1.11	3.99	9.49
Net profit YoY	−95.2%	−74.2%	−93.0%	−133.9%	+101.9%	+17.5%	−17.4%	−16.5%	−7.1%	+26.5%	+30.8%	+17.3%	–	+22.9%	+365.1%	+73.1%	+40.6%	−83.9%	+43.4%	+124.8%	−2.0%	+89.0%	−39.1%	−473.5%	+595.4%	+356.2%	+12.4%	–	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY17
Revenue from operations	1,364	5,697	4,828	4,030	2,418	2,038	2,640	2,654	600
Other income	6.7	3.3	5.2	7.7	3.1	6.2	5	4.4	0.2
Total expenses	1,363	5,597	4,726	3,953	2,375	2,024	2,591	2,610	571
EBITDA	23.5	169	151	117	84.6	71	117	119	44.9
EBITDA margin	1.7%	3.0%	3.1%	2.9%	3.5%	3.5%	4.4%	4.5%	7.5%
Finance costs	13.8	52.3	32.3	24.3	24.4	33.1	43.3	56.7	12.8
Depreciation	8.2	16.7	15.9	16.3	17.2	24	25.4	18.6	2.9
Profit before tax	7.8	103	108	84.4	46.1	20.1	53.4	48.5	29.5
Tax	4	25.9	27	21.3	11.7	6.3	11.2	15.8	10.9
Net profit	3.8	77.4	81.1	63.1	34.3	13.8	39.9	32.7	18.6
Net margin	0.3%	1.4%	1.7%	1.6%	1.4%	0.7%	1.5%	1.2%	3.1%
EPS (₹)	1.58	31.92	34.67	27.59	15.02	6.06	18.44	14.33	8.44
Net profit YoY	−95.0%	−4.6%	+28.7%	+83.7%	+147.9%	−65.3%	+21.8%	–	–

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	−101	63.6	9.7	92	69.6
Investing cash flow	−63.3	−26.4	−27.2	−45.2	−18.4
Financing cash flow	164	−42.4	40	−43.4	−59.7
Capital expenditure	65	26	30.2	43.5	19.7
Free cash flow (CFO − capex)	−166	37.6	−20.5	48.5	50

Net profit trend

annual, ₹ crore

FY21

₹13.8

FY22

₹34.3+148%

FY23

₹63.1+84%

FY24

₹81.1+29%

FY25

₹77.4−5%

FY26

₹3.8−95%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	5 Aug 2026	PDF on NSE XBRL
Q1 FY27	Standalone	5 Aug 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	5 May 2026	PDF XBRL
Q4 FY26	Standalone · audited	5 May 2026	PDF XBRL
Q3 FY26	Consolidated	10 Feb 2026	PDF on NSE XBRL
Q3 FY26	Standalone	10 Feb 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	13 Nov 2025	PDF XBRL
Q2 FY26	Standalone	13 Nov 2025	PDF XBRL
Q1 FY26	Consolidated	28 Jul 2025	PDF XBRL
Q1 FY26	Standalone	28 Jul 2025	PDF XBRL

Annual reports

NSE archive

FY266.09 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 21.4×65.0×

P/B5Y avg 0.62×0.72×

ROEFY26, on average equity0.6%

Net margin0.3%

Debt / equity0.43×

Revenue CAGR (3Y)-30.3%

Profit CAGR (3Y)-60.7%

EPS (TTM)₹2.05

Market cap₹322 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 0.62× (+16%)

0.40× low0.62× avg1.09× high

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

Balance sheet 31 Mar 2026

Total assets₹757 Cr−58%

Net worth₹447 Cr−48%

Total borrowings₹192 Cr+88%

Cash & bank balances₹1 Cr−95%

Investments₹0 Cr

Inventories₹249 Cr−57%

Trade receivables₹94 Cr−88%

Trade payables₹95 Cr−88%

Change vs the same date a year earlier.

Revenue mix FY25

Retail51.7%result ₹168 Cr

Channel & Enterprise48.3%result ₹34.5 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	Nov 23
Promoter	45.39	44.45	40.18	40.18	40.18	49.25	49.25	49.22	49.22	49.22	52.24	49.18
FII	2.94	6.47	10.09	12.27	10.56	5.70	5.86	7.95	10.34	11.77	11.68	10.78
DII	12.45	11.17	8.72	10.18	10.06	5.03	5.04	4.78	4.74	5.13	6.29	5.66
of which MF	–	–	–	4.42	4.42	–	–	–	–	–	–	–
Retail	30.57	31.11	33.76	25.58	25.26	25.54	26.88	26.02	23.78	23.20	25.54	23.37
Other public	8.65	6.80	7.25	11.79	13.94	14.48	12.97	12.03	11.92	10.68	4.25	11.01

25,346 shareholders · NSE shareholding pattern filings.