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Quarterly results

consolidated · as filed with NSE · Q1 FY27 back to Q3 FY20

₹ 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	Q3 FY22	Q2 FY22	Q1 FY22	Q4 FY21	Q3 FY21	Q2 FY21	Q1 FY21	Q4 FY20	Q3 FY20
Revenue from operations	284	260	234	230	300	415	555	686	710	676	626	610	512	498	355	346	396	434	474	338	345	326	429	350
Other income	19.3	17.5	11.3	9.9	3.7	4.1	17.8	20.2	27.1	33.8	30.8	30	15.7	34.9	20.3	3.7	0.5	0.7	6.4	6.4	9.3	1	11.1	8.5
Total expenses	286	269	371	567	785	997	1,160	995	662	537	486	473	367	394	279	290	468	364	413	381	263	249	331	183
EBITDA	133	121	−24.1	−213	−327	−389	−371	−44.9	312	395	395	370	348	256	199	197	79.2	216	201	75	168	164	182	254
EBITDA margin	46.8%	46.4%	-10.3%	-92.9%	-108.7%	-93.8%	-66.8%	-6.5%	43.9%	58.4%	63.2%	60.6%	67.9%	51.5%	56.1%	57.0%	20.0%	49.8%	42.5%	22.2%	48.7%	50.3%	42.5%	72.7%
Finance costs	132	126	109	120	154	185	229	258	259	249	250	228	200	149	121	139	150	143	138	116	84.1	85	82.5	84.9
Depreciation	2.6	4	3.9	4	4.2	7.2	5.6	5.5	4.4	7	5.6	4.6	3.2	3.7	2.6	2.4	1.5	2.6	2.5	2	1.6	1.5	2.3	2.2
Profit before tax	17.6	8	−125	−327	−481	−578	−588	−289	75.1	172	170	168	161	139	96	59.5	−71.5	71.1	67.2	−36.6	91.4	78.4	108	176
Tax	5.7	2.8	−30.5	−78	−121	−143	−147	−72.3	19.3	43.5	42.9	42.3	41.1	33	24.7	14.4	−12.8	16.3	17.9	−6.9	24.6	19.4	25.4	46.2
Net profit	11.9	5.3	−95	−249	−360	−434	−440	−216	55.7	129	127	125	119	106	71.4	45.1	−58.7	54.8	49.3	−29.7	66.9	59	83	130
Net margin	4.2%	2.0%	-40.6%	-108.5%	-119.9%	-104.7%	-79.4%	-31.5%	7.8%	19.0%	20.4%	20.5%	23.3%	21.2%	20.1%	13.0%	-14.8%	12.6%	10.4%	-8.8%	19.4%	18.1%	19.4%	37.0%
EPS (₹)	1.49	0.66	-11.88	-32.76	-50.52	-60.91	-61.73	-30.34	7.81	18.06	17.91	17.63	0.00	14.87	10.05	6.99	-9.01	8.39	7.63	-4.62	10.38	9.16	12.90	20.20
Net profit YoY	+103.3%	+101.2%	+78.4%	−15.2%	−746.6%	−437.6%	−445.5%	−272.8%	−53.4%	+21.9%	+78.5%	–	–	–	+58.3%	+251.8%	−187.8%	−7.2%	−40.7%	−122.9%	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY21	FY20
Revenue from operations	1,024	2,355	2,424	1,401	1,483	1,435
Other income	42.4	68.9	110	76.3	23	34.2
Total expenses	1,992	3,803	1,863	1,459	1,305	851
EBITDA	−443	−493	1,508	410	608	949
EBITDA margin	-43.3%	-20.9%	62.2%	29.3%	41.0%	66.1%
Finance costs	508	932	927	458	423	356
Depreciation	16.2	22.7	20.4	10.9	7.6	8.8
Profit before tax	−925	−1,379	671	17.8	200	618
Tax	−226	−344	170	5.4	55	267
Net profit	−699	−1,035	501	12.4	145	352
Net margin	-68.3%	-44.0%	20.7%	0.9%	9.8%	24.5%
EPS (₹)	-91.01	-145.17	70.42	1.74	22.55	56.21
Net profit YoY	+32.5%	−306.7%	+3940.0%	–	−58.7%	–

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
Operating cash flow	882	3,669	−2,707	−2,171
Investing cash flow	165	−119	86.4	−175
Financing cash flow	−1,514	−3,712	3,205	2,433
Capital expenditure	4	22.3	25.4	12.7
Free cash flow (CFO − capex)	878	3,646	−2,732	−2,184

Net profit trend

annual, ₹ crore

FY20

₹352

FY21

₹145−59%

FY23

₹12.4−91%

FY24

₹501+3940%

FY25

₹−1,035−307%

FY26

₹−699+32%

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	5 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	5 May 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	27 Jan 2026	PDF on NSE XBRL
Q3 FY26	Standalone	27 Jan 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	31 Oct 2025	PDF on NSE XBRL
Q2 FY26	Standalone	31 Oct 2025	PDF on NSE XBRL
Q1 FY26	Consolidated	14 Aug 2025	PDF on NSE XBRL
Q1 FY26	Consolidated	–	PDF on NSE XBRL

Annual reports

NSE archive

FY2610.89 MB FY25 FY24 FY23 FY22 FY21 FY20

Key ratios

P/E (TTM)5Y avg 169.9×-5.5×

P/B5Y avg 1.21×0.85×

ROEFY26, on average equity-29.4%

Net margin-68.3%

Debt / equity0.83×

Revenue CAGR (3Y)-9.9%

Profit CAGR (3Y)–

EPS (TTM)₹-40.89

Market cap₹1,804 Cr

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

P/B vs history

0.85×

vs 8-point avg 1.21× (−30%)

0.68× low1.21× avg1.89× high

History points are balance-sheet dates (2021 → 2026), priced at the adjusted close on each date.

Balance sheet 31 Mar 2026

Total assets₹6,246 Cr−26%

Net worth₹2,129 Cr−19%

Total borrowings₹1,767 Cr−48%

Cash & bank balances₹769 Cr−38%

Investments₹114 Cr+3%

Inventories₹0 Cr

Change vs the same date a year earlier.

Shareholding 30 Jun 2026

%	Jun 26	Mar 26	Dec 25	Sept 25	Aug 25	Jun 25	Mar 25	Dec 24	Sept 24	Jun 24	Mar 24	Dec 23
Promoter	48.16	48.16	48.16	48.16	48.16	48.13	48.13	48.13	55.83	56.85	59.75	59.89
FII	19.29	19.89	20.35	20.25	20.26	19.79	19.83	21.71	22.64	22.83	21.79	19.05
DII	5.69	5.79	5.78	6.12	6.18	5.65	6.45	6.31	7.33	8.97	10.54	13.44
of which MF	0.77	0.54	0.51	0.47	0.56	0.26	–	–	–	–	–	–
Retail	22.59	21.85	21.70	21.87	21.60	23.11	22.44	21.25	11.85	9.03	6.17	5.60
Other public	4.27	4.31	4.01	3.60	3.80	3.32	3.15	2.60	2.35	2.32	1.75	2.02

1,08,583 shareholders · NSE shareholding pattern filings.