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Quarterly results

consolidated · as filed with NSE · Q1 FY27 back to Q4 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 FY20	Q2 FY20	Q1 FY20	Q4 FY19	Q3 FY19	Q2 FY19	Q1 FY19	Q4 FY18
Revenue from operations	132	139	161	143	140	204	164	162	154	199	156	199	154	164	150	147	96	93.6	89.9	123	74.8	77.6	88	59.3	86.2	123	97	150	143	132	149	163	123	118
Other income	0.6	1.2	0.8	0.4	3.7	3.7	3	0.7	1.1	0.8	2.2	1.1	0.8	0.2	0.9	0.6	1.7	1.2	0.3	0.1	0.3	−0.1	0.3	0.5	0.3	1.1	0.5	0.6	0.9	0.8	0.7	0	0.2	0.4
Total expenses	143	236	237	207	204	213	218	199	178	217	184	193	156	157	150	142	96	92.4	88.2	121	76.5	75.4	89.9	69.1	99.8	135	85.5	129	118	99.9	122	128	92	90
EBITDA	−1.8	−87.2	−67.4	−54.8	−55.5	2.4	−42.3	−26.5	−13.4	−7.5	−17.7	17.2	7.8	16.9	9.4	12.8	8.1	8.7	9.8	10.2	7.1	11.1	7.1	−0.7	−4.9	−3.1	19.5	28.5	31.9	41	35.3	42.6	38.9	36.8
EBITDA margin	-1.4%	-62.5%	-41.9%	-38.2%	-39.8%	1.2%	-25.7%	-16.3%	-8.7%	-3.8%	-11.3%	8.6%	5.1%	10.3%	6.3%	8.7%	8.5%	9.3%	10.9%	8.3%	9.6%	14.3%	8.0%	-1.2%	-5.7%	-2.5%	20.1%	19.0%	22.3%	31.0%	23.7%	26.1%	31.5%	31.1%
Finance costs	7.8	7.8	7.5	7.2	7.6	9.6	10	8.5	9	8.8	9.4	9.4	8.8	8.4	8.2	7.3	6.9	6.1	6.4	6.4	7.1	7.2	7.1	7.3	6.9	7.1	5.9	5.6	5.8	7.3	6.5	5.6	6.1	7.1
Depreciation	1.5	1.4	1.5	1.5	1.5	1.5	1.5	1.5	1.5	1.4	1.4	1.4	1.3	1.3	1.2	1.3	1.3	1.5	1.7	1.7	1.7	1.7	1.8	1.9	1.9	2	2	2	1.4	1.4	1.4	1.3	1.4	1.3
Profit before tax	−10.5	−95.2	−75.6	−63	−61	−5	−50.8	−35.8	−22.8	−16.9	−26.4	7.5	−1.5	7.5	0.9	4.8	1.6	2.4	2	2.2	−1.4	2.1	−1.6	−9.4	−13.3	−17.3	12.1	21.5	25.6	33.1	28	35.7	31.6	28.8
Tax	−2.4	−23.2	−20.7	−17.5	−15.2	−0	−14.3	−9.8	−5.7	−3	4.1	2	−0.5	2.8	−0.1	1.4	1.2	0.6	0.2	−0.7	−0	0.3	0.1	−0.2	−0.5	−3.3	3.3	2.1	9.2	12.5	8.5	12.7	12.1	10.3
Net profit	−8.1	−72	−54.9	−45.5	−45.8	−4.9	−36.5	−25.9	−17.1	−13.9	−30.4	5.5	−1	4.7	1	3.4	0.4	1.8	1.9	2.8	−1.4	1.8	−1.7	−9.2	−12.8	−14.2	8.7	19.4	16.1	20.9	19.6	23	19.6	18.7
Net margin	-6.1%	-51.6%	-34.2%	-31.8%	-32.8%	-2.4%	-22.2%	-16.0%	-11.0%	-7.0%	-19.5%	2.7%	-0.7%	2.8%	0.7%	2.4%	0.4%	1.9%	2.1%	2.3%	-1.8%	2.4%	-1.9%	-15.6%	-14.9%	-11.6%	9.0%	12.9%	11.3%	15.8%	13.1%	14.1%	15.8%	15.8%
EPS (₹)	-2.80	-26.38	-20.29	-16.57	-16.77	-1.88	-13.35	-9.62	-6.33	-5.25	-11.02	1.68	-0.49	1.78	0.33	1.25	0.09	0.75	1.00	1.00	-0.50	0.80	-0.56	-3.37	-4.77	-5.15	3.13	7.17	5.94	7.68	7.20	8.45	7.19	6.89
Net profit YoY	+82.4%	−1354.1%	−50.3%	−75.6%	−168.2%	+64.4%	−20.0%	−575.7%	−1561.5%	−399.0%	−3066.2%	+58.2%	−339.2%	+165.1%	−45.4%	+23.0%	+131.5%	−4.3%	+210.7%	+130.4%	+89.4%	+112.9%	−119.5%	−147.6%	−179.4%	−168.1%	−55.4%	−15.7%	−17.4%	+11.5%	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Revenue from operations	583	685	707	557	381	311	513	568	489
Other income	6.1	8.4	4.9	3.4	1.9	1	3	1.7	1.7
Total expenses	884	808	749	545	378	334	468	441	382
EBITDA	−265	−79.8	−0.3	47.3	35.8	12.6	76.8	158	142
EBITDA margin	-45.4%	-11.6%	-0.0%	8.5%	9.4%	4.0%	15.0%	27.8%	29.1%
Finance costs	30.1	37	36.3	30.7	25.9	28.4	24.4	25.6	30.7
Depreciation	6	6	5.6	5.2	6.6	7.3	7.5	5.6	5.1
Profit before tax	−295	−114	−37.3	14.8	5.2	−22.1	41.7	128	108
Tax	−76.6	−29.9	2.6	5.3	0.1	−0.2	11.3	45.7	36.7
Net profit	−218	−84.5	−39.9	9.6	5.1	−21.9	30.2	83	71.2
Net margin	-37.4%	-12.3%	-5.6%	1.7%	1.3%	-7.0%	5.9%	14.6%	14.6%
EPS (₹)	-79.96	-31.14	-14.94	3.45	1.94	-7.90	11.09	30.52	26.18
Net profit YoY	−158.3%	−111.6%	−517.9%	+88.3%	+123.2%	−172.4%	−63.6%	+16.6%	–

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	23.8	75.2	25.6	−17.2	43.7
Investing cash flow	−3.8	−1.5	−7.5	−19	−2.4
Financing cash flow	−17.7	−72.7	−18.8	35.6	−41
Capital expenditure	3.3	2.6	10.2	19.6	3.1
Free cash flow (CFO − capex)	20.5	72.5	15.4	−36.8	40.6

Net profit trend

annual, ₹ crore

FY21

₹−21.9

FY22

₹5.1+123%

FY23

₹9.6+88%

FY24

₹−39.9−518%

FY25

₹−84.5−112%

FY26

₹−218−158%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	23 Jul 2026	PDF on NSE XBRL
Q1 FY27	Standalone	23 Jul 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	16 May 2026	PDF XBRL
Q4 FY26	Standalone · audited	16 May 2026	PDF XBRL
Q3 FY26	Consolidated	30 Jan 2026	PDF on NSE XBRL
Q3 FY26	Standalone	30 Jan 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	5 Nov 2025	PDF XBRL
Q2 FY26	Consolidated	–	PDF on NSE XBRL
Q2 FY26	Standalone	5 Nov 2025	PDF XBRL
Q2 FY26	Standalone	–	PDF on NSE XBRL

Annual reports

NSE archive

FY268.33 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 32.0×-2.0×

P/B5Y avg 0.74×1.32×

ROEFY26, on average equity-58.8%

Net margin-37.4%

Debt / equity1.11×

Revenue CAGR (3Y)1.6%

Profit CAGR (3Y)–

EPS (TTM)₹-62.82

Market cap₹358 Cr

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

P/B vs history

1.32×

vs 8-point avg 0.74× (+80%)

0.52× low0.74× avg1.32× high

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

Balance sheet 31 Mar 2026

Total assets₹686 Cr−21%

Net worth₹270 Cr−43%

Total borrowings₹300 Cr−0%

Cash & bank balances₹4 Cr+199%

Investments₹0 Cr+1%

Inventories₹339 Cr−40%

Trade receivables₹69 Cr−34%

Trade payables₹88 Cr+28%

Change vs the same date a year earlier.

Shareholding 30 Jun 2026

%	Jun 26	Mar 26	Mar 26	Dec 25	Sept 25	Jun 25	Mar 25	Dec 24	Sept 24	Jun 24	Mar 24	Dec 23
Promoter	67.24	67.24	67.24	65.54	65.54	65.54	65.54	65.57	65.61	65.67	65.77	65.88
FII	–	–	–	–	0.00	0.00	0.03	0.01	0.00	0.00	0.03	0.00
DII	–	–	–	–	–	–	0.00	0.00	0.00	0.00	0.00	0.14
Retail	24.85	25.75	25.66	27.27	27.03	27.11	27.09	26.84	26.84	26.74	27.02	27.07
Other public	7.91	7.01	7.10	7.19	7.43	7.35	7.34	7.58	7.55	7.59	7.18	6.91

13,905 shareholders · NSE shareholding pattern filings.