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 | Q4 FY18 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 1,278 | 1,988 | 943 | 1,408 | 852 | 1,241 | 1,224 | 934 | 640 | 763 | 685 | 741 | 908 | 1,210 | 868 | 667 | 582 | 731 | 668 | 819 | 512 | 553 | 684 | 522 | 350 | 910 | 883 | 784 | 1,177 | 1,398 | 788 | 659 | 770 |
| Other income | 52 | 42.1 | 40 | 61.7 | 49.5 | 30.1 | 32.8 | 31.7 | 29.5 | 28.4 | 28.8 | 32.4 | 31.3 | 30.2 | 29.8 | 23.3 | 13.6 | 35.5 | 29.3 | 13.2 | 12.7 | 35.5 | 11.9 | 23.9 | 9.3 | 17.5 | 18 | 19.9 | 16.4 | 23.8 | 19.8 | 17.5 | 19.6 |
| Total expenses | 1,261 | 1,908 | 962 | 1,370 | 883 | 1,215 | 1,227 | 929 | 659 | 780 | 692 | 749 | 922 | 1,173 | 863 | 656 | 574 | 730 | 653 | 767 | 512 | 574 | 664 | 523 | 354 | 846 | 785 | 711 | 1,051 | 1,246 | 698 | 587 | 699 |
| EBITDA | 77.7 | 152 | 38.8 | 95.6 | 23.8 | 94.1 | 67.2 | 77.1 | 55.9 | 62.1 | 74.1 | 75.4 | 65.4 | 116 | 88.8 | 92.2 | 214 | 204 | 228 | 256 | 201 | 150 | 179 | 154 | 193 | 255 | 287 | 257 | 228 | 244 | 159 | 140 | 136 |
| EBITDA margin | 6.1% | 7.7% | 4.1% | 6.8% | 2.8% | 7.6% | 5.5% | 8.3% | 8.7% | 8.1% | 10.8% | 10.2% | 7.2% | 9.6% | 10.2% | 13.8% | 36.7% | 27.9% | 34.0% | 31.3% | 39.3% | 27.1% | 26.1% | 29.4% | 55.3% | 28.0% | 32.5% | 32.8% | 19.3% | 17.4% | 20.2% | 21.3% | 17.7% |
| Finance costs | 32.1 | 43.9 | 30.3 | 32.2 | 31 | 45 | 47.3 | 49.4 | 53.9 | 59 | 61.4 | 63.9 | 61.1 | 61.1 | 66 | 63.2 | 190 | 185 | 195 | 186 | 184 | 150 | 138 | 135 | 178 | 172 | 170 | 167 | 84 | 75.8 | 53.1 | 53.2 | 51.8 |
| Depreciation | 28.4 | 28.5 | 27.7 | 26.2 | 23.7 | 23 | 23.3 | 23.2 | 20.4 | 20.5 | 20.1 | 19.3 | 18.3 | 17.8 | 17.5 | 17.9 | 15.9 | 18.9 | 17.8 | 17.9 | 17.5 | 20.4 | 20.6 | 19.5 | 18.9 | 18.8 | 18.2 | 17.8 | 17.5 | 15.9 | 16.1 | 15.4 | 13.5 |
| Profit before tax | 69.3 | 122 | 20.8 | 98.9 | 18.7 | 56.2 | 29.5 | 36.2 | 11.1 | 10.9 | 21.4 | 24.7 | 17.3 | 66.9 | 35.1 | 34.4 | 21.6 | 36.4 | 44.2 | 64.9 | 12.6 | 14.6 | 32.3 | 22.9 | 5.4 | 81.4 | 116 | 92.8 | 142 | 176 | 110 | 89.1 | 90.7 |
| Tax | 18.3 | 29.9 | 5.1 | 26.4 | 5 | 15.4 | 7.8 | 10.1 | 5 | 3.9 | 6.3 | 9.7 | 5.2 | 18.3 | 3.3 | 15.2 | 7.9 | 11.4 | 11.5 | 16.6 | 1.8 | −3.3 | 10.7 | 6.7 | −1.2 | 30.7 | 43.2 | 25.8 | 51.8 | 62.3 | 39.8 | 27.7 | 25.3 |
| Net profit | 50.8 | 91.8 | 15.4 | 72.5 | 13.6 | 40.9 | 21.7 | 26.1 | 6.1 | 7 | 15.1 | 14.9 | 12.1 | 48.6 | 31.8 | 19.2 | 13.7 | 25 | 32.7 | 48.3 | 10.8 | 17.9 | 21.6 | 16.2 | 6.6 | 50.7 | 73.2 | 67 | 90.6 | 113 | 69.8 | 61.4 | 65.4 |
| Net margin | 4.0% | 4.6% | 1.6% | 5.2% | 1.6% | 3.3% | 1.8% | 2.8% | 0.9% | 0.9% | 2.2% | 2.0% | 1.3% | 4.0% | 3.7% | 2.9% | 2.4% | 3.4% | 4.9% | 5.9% | 2.1% | 3.2% | 3.2% | 3.1% | 1.9% | 5.6% | 8.3% | 8.5% | 7.7% | 8.1% | 8.9% | 9.3% | 8.5% |
| EPS (₹) | 4.75 | 8.59 | 1.44 | 6.78 | 1.27 | 3.83 | 2.15 | 2.60 | 0.64 | 0.74 | 1.59 | 1.58 | 1.27 | 5.13 | 3.35 | 2.03 | 1.44 | 2.64 | 3.45 | 5.09 | 1.14 | 1.89 | 2.28 | 1.71 | 0.70 | 5.35 | 7.72 | 7.07 | 9.55 | 11.95 | 7.36 | 6.47 | 6.90 |
| Net profit YoY | +273.4% | +124.8% | −28.9% | +178.0% | +124.9% | +481.2% | +43.8% | +74.6% | −49.8% | −85.5% | −52.6% | −22.2% | −12.0% | +94.4% | −2.8% | −60.2% | +26.9% | +39.7% | +51.4% | +198.1% | +63.6% | −64.7% | −70.5% | −75.8% | −92.7% | −55.3% | +4.9% | +9.1% | – | +73.2% | – | – | – |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 5,190 | 4,039 | 3,097 | 3,310 | 2,731 | 2,110 | 3,754 | 3,442 | 2,787 |
| Other income | 193 | 124 | 121 | 92.3 | 90.7 | 80.6 | 71.8 | 73.5 | 49.5 |
| Total expenses | 5,124 | 4,030 | 3,144 | 3,258 | 2,664 | 2,115 | 3,393 | 3,067 | 2,520 |
| EBITDA | 310 | 294 | 277 | 369 | 889 | 675 | 1,115 | 673 | 520 |
| EBITDA margin | 6.0% | 7.3% | 8.9% | 11.2% | 32.6% | 32.0% | 29.7% | 19.6% | 18.6% |
| Finance costs | 137 | 196 | 246 | 249 | 750 | 601 | 682 | 236 | 198 |
| Depreciation | 106 | 89.8 | 78.2 | 67.8 | 72.1 | 79.4 | 72.3 | 62.3 | 54.4 |
| Profit before tax | 260 | 133 | 74.2 | 145 | 158 | 75.2 | 433 | 448 | 317 |
| Tax | 66.5 | 38.3 | 25.1 | 40.7 | 41.3 | 12.9 | 152 | 151 | 100 |
| Net profit | 193 | 94.7 | 49.1 | 104 | 117 | 62.3 | 282 | 297 | 217 |
| Net margin | 3.7% | 2.3% | 1.6% | 3.1% | 4.3% | 3.0% | 7.5% | 8.6% | 7.8% |
| EPS (₹) | 18.09 | 9.28 | 5.18 | 10.99 | 12.32 | 6.57 | 29.69 | 31.33 | 22.67 |
| Net profit YoY | +104.3% | +92.8% | −52.9% | −10.8% | +87.5% | −77.9% | −5.3% | +37.0% | – |
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 | 430 | 200 | 647 | 1,150 | 821 |
| Investing cash flow | −97.1 | −1,180 | −475 | −237 | 38.2 |
| Financing cash flow | −285 | 993 | −338 | −773 | −884 |
| Capital expenditure | 208 | 131 | 125 | 123 | 20.2 |
| Free cash flow (CFO − capex) | 221 | 68.7 | 523 | 1,027 | 801 |
Net profit trend
annual, ₹ croreFY21
₹62.3
FY22
₹117+87%
FY23
₹104−11%
FY24
₹49.1−53%
FY25
₹94.7+93%
FY26
₹193+104%
Result filings
as filed with NSE · PDF and XBRL| Period | Basis | Filed | Documents |
|---|---|---|---|
| Q1 FY27 | Consolidated | 20 Jul 2026 | PDF on NSE XBRL |
| Q1 FY27 | Standalone | 20 Jul 2026 | PDF on NSE XBRL |
| Q4 FY26 | Consolidated · audited | 4 May 2026 | PDF on NSE XBRL |
| Q4 FY26 | Standalone · audited | 4 May 2026 | PDF on NSE XBRL |
| Q3 FY26 | Consolidated | 16 Jan 2026 | PDF on NSE XBRL |
| Q3 FY26 | Standalone | 16 Jan 2026 | PDF on NSE XBRL |
| Q2 FY26 | Consolidated | 17 Oct 2025 | PDF on NSE XBRL |
| Q2 FY26 | Standalone | 17 Oct 2025 | PDF on NSE XBRL |
| Q1 FY26 | Consolidated | 25 Jul 2025 | PDF XBRL |
| Q1 FY26 | Standalone | 25 Jul 2025 | PDF XBRL |
Annual reports
NSE archiveKey ratios
P/E (TTM)5Y avg 138.5×56.9×
P/B5Y avg 3.57×2.78×
ROEFY26, on average equity4.2%
Net margin3.7%
Debt / equity0.21×
Revenue CAGR (3Y)16.2%
Profit CAGR (3Y)22.9%
EPS (TTM)₹21.57
Market cap₹13,118 Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
2.78×
vs 8-point avg 3.57× (−22%)
1.80× low3.57× avg6.00× high
History points are balance-sheet dates (2022 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹19,518 Cr+13%
Net worth₹4,720 Cr+3%
Total borrowings₹1,002 Cr−11%
Cash & bank balances₹174 Cr+38%
Investments₹0 Cr
Inventories₹12,826 Cr+14%
Trade receivables₹277 Cr+49%
Trade payables₹828 Cr+47%
Change vs the same date a year earlier.
Revenue mix FY26
Real estate81.1%result ₹383 Cr
Contractual and manufacturing18.9%result ₹115 Cr
Segment revenue as reported, before inter-segment eliminations.