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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	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	4,255	3,438	3,550	3,877	3,719	3,509	3,590	3,999	3,789	3,475	3,730	3,998	4,218	4,407	4,148	4,239	3,995	3,481	3,023	2,977	2,636	2,606	2,609	2,348	2,378	2,620	3,084	2,897	2,759	2,832	2,961	2,769	2,555
Other income	56	44	38	138	96	42	28	108	47	114	38	85	49	75	37	60	46	106	56.4	54.3	64.5	42.7	68.6	58.7	75.6	61.9	92.5	87.9	85.9	96.1	123	81.7	73.8
Total expenses	4,184	3,660	3,644	3,769	3,497	3,612	3,584	3,803	3,621	3,433	3,566	3,558	3,527	3,809	3,560	3,623	3,273	3,098	2,805	2,655	2,630	2,400	2,499	2,296	2,237	2,386	2,703	2,562	2,464	2,602	2,592	2,477	2,262
EBITDA	555	274	345	537	649	327	434	618	574	443	542	819	1,043	965	922	920	1,015	657	501	601	283	472	386	360	400	473	635	592	531	471	602	516	512
EBITDA margin	13.0%	8.0%	9.7%	13.9%	17.5%	9.3%	12.1%	15.5%	15.1%	12.7%	14.5%	20.5%	24.7%	21.9%	22.2%	21.7%	25.4%	18.9%	16.6%	20.2%	10.7%	18.1%	14.8%	15.3%	16.8%	18.1%	20.6%	20.4%	19.2%	16.6%	20.3%	18.6%	20.1%
Finance costs	148	153	146	144	147	137	148	145	133	130	132	145	123	133	107	86	80	69.2	83.8	81.2	85	80.9	83.6	118	85.5	74.7	87.2	94.4	85.1	97.2	92.1	88.7	85.5
Depreciation	336	343	293	285	280	293	280	277	273	271	246	234	229	234	227	218	213	205	200	197	192	185	192	190	174	164	167	163	151	144	142	135	134
Profit before tax	127	−2,015	−110	181	318	−116	−36	304	215	−807	202	627	740	673	625	676	768	489	262	377	70.7	248	179	111	216	297	473	414	479	298	492	373	372
Tax	50	134	−4	82	44	−25	17	81	94	22	68	120	171	−8	102	38	156	42.9	72.3	85.3	51.1	53.8	57.1	35.8	19.3	66.2	38.8	130	29.6	71.6	120	126	35.1
Net profit	60	−2,116	−69	154	316	−49	−21	267	190	−841	194	495	587	692	425	680	637	445	268	342	29.3	201	132	74.2	6,434	288	437	313	450	266	409	262	1,210
Net margin	1.4%	-61.5%	-1.9%	4.0%	8.5%	-1.4%	-0.6%	6.7%	5.0%	-24.2%	5.2%	12.4%	13.9%	15.7%	10.2%	16.0%	15.9%	12.8%	8.9%	11.5%	1.1%	7.7%	5.1%	3.2%	270.6%	11.0%	14.2%	10.8%	16.3%	9.4%	13.8%	9.4%	47.4%
EPS (₹)	-0.67	-83.68	3.65	3.02	9.89	-2.90	-2.08	7.61	5.30	-32.46	6.20	16.80	20.53	27.91	15.62	24.85	23.28	18.17	7.88	11.30	0.46	6.31	2.77	0.52	7.25	6.77	13.92	8.19	16.05	8.61	12.63	8.40	12.34
Net profit YoY	−81.0%	−4218.4%	−228.6%	−42.3%	+66.3%	+94.2%	−110.8%	−46.1%	−67.6%	−221.5%	−54.4%	−27.2%	−7.8%	+55.4%	–	+153.7%	+86.1%	+1422.3%	+102.9%	+361.7%	−99.5%	−30.3%	−69.8%	−76.3%	+1329.5%	+8.1%	+6.9%	+19.5%	−62.8%	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Revenue from operations	14,584	14,887	15,421	16,789	12,622	10,200	10,357	11,296	10,345
Other income	316	225	286	218	256	234	311	412	159
Total expenses	14,570	14,620	14,084	14,265	11,426	9,826	9,416	10,136	8,998
EBITDA	1,805	1,953	2,847	3,822	2,305	1,501	1,949	2,095	2,191
EBITDA margin	12.4%	13.1%	18.5%	22.8%	18.3%	14.7%	18.8%	18.5%	21.2%
Finance costs	590	563	530	406	303	367	342	363	326
Depreciation	1,201	1,123	980	892	806	759	666	571	518
Profit before tax	−1,626	367	762	2,742	1,441	608	1,252	1,643	1,571
Tax	256	167	381	288	266	198	220	347	60.1
Net profit	−1,715	387	435	2,434	1,405	436	7,228	1,387	2,702
Net margin	-11.8%	2.6%	2.8%	14.5%	11.1%	4.3%	69.8%	12.3%	26.1%
EPS (₹)	-74.42	7.93	11.07	91.66	49.17	10.06	31.66	45.69	50.66
Net profit YoY	−543.2%	−11.0%	−82.1%	+73.2%	+222.1%	−94.0%	+421.2%	−48.7%	–

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	FY22
Operating cash flow	1,269	1,761	3,016	2,971	1,644
Investing cash flow	−809	−1,681	−610	−1,186	−836
Financing cash flow	−670	29	−2,494	−2,076	−755
Capital expenditure	1,205	2,005	1,834	1,578	1,277
Free cash flow (CFO − capex)	64	−244	1,182	1,393	368

Net profit trend

annual, ₹ crore

FY21

₹436

FY22

₹1,405+222%

FY23

₹2,434+73%

FY24

₹435−82%

FY25

₹387−11%

FY26

₹−1,715−543%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	27 Jul 2026	PDF on NSE XBRL
Q1 FY27	Standalone · audited	27 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	2 Feb 2026	PDF on NSE XBRL
Q3 FY26	Standalone · audited	2 Feb 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	1 Nov 2025	PDF on NSE XBRL
Q2 FY26	Standalone · audited	1 Nov 2025	PDF on NSE XBRL
Q1 FY26	Consolidated	25 Jul 2025	PDF on NSE XBRL
Q1 FY26	Standalone · audited	25 Jul 2025	PDF on NSE XBRL

Annual reports

NSE archive

FY2610.86 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 43.5×-8.3×

P/B5Y avg 1.15×0.77×

ROEFY26, on average equity-8.0%

Net margin-11.8%

Debt / equity0.38×

Revenue CAGR (3Y)-4.6%

Profit CAGR (3Y)–

EPS (TTM)₹-77.29

Market cap₹16,416 Cr

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

P/B vs history

0.77×

vs 8-point avg 1.15× (−33%)

0.70× low1.15× avg1.47× high

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

Balance sheet 31 Mar 2026

Total assets₹39,031 Cr+3%

Net worth₹21,206 Cr−2%

Total borrowings₹8,001 Cr+13%

Cash & bank balances₹381 Cr−30%

Investments₹8,426 Cr+8%

Inventories₹3,082 Cr+20%

Trade receivables₹2,088 Cr+10%

Trade payables₹2,552 Cr+2%

Change vs the same date a year earlier.

Revenue mix FY26

Basic chemistry products78.9%result ₹−1,311 Cr

Specialty products21.1%result ₹168 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	Sept 23
Promoter	37.98	37.98	37.98	37.98	37.98	37.98	37.98	37.98	37.98	37.98	37.98	37.98
FII	12.07	11.90	12.26	13.74	12.84	13.30	13.61	13.56	13.76	13.83	14.06	14.16
DII	21.12	22.84	22.39	22.18	22.62	21.97	21.68	20.34	19.91	19.97	20.45	20.92
of which MF	9.68	10.64	9.94	9.90	10.23	9.15	–	–	–	–	–	–
Retail	24.12	23.38	23.41	22.24	22.89	22.92	22.74	24.23	23.73	23.43	22.98	23.22
Other public	4.71	3.90	3.96	3.86	3.67	3.83	3.99	3.89	4.62	4.79	4.53	3.72

6,37,200 shareholders · NSE shareholding pattern filings.