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 | 5,349 | 5,434 | 5,112 | 4,966 | 4,779 | 4,608 | 4,444 | 4,214 | 4,352 | 3,927 | 3,804 | 3,734 | 3,741 | 3,619 | 3,475 | 3,363 | 3,327 | 3,175 | 3,208 | 3,033 | 3,008 | 3,037 | 3,070 | 2,781 | 2,714 | 2,405 | 1,962 | 1,834 | 1,897 | 1,775 | 1,913 | 1,761 | 1,688 |
| Other income | 71.9 | 52.6 | 33 | 38 | 41.2 | 56.5 | 51.6 | 46 | 39.2 | 38.5 | 59.6 | 89.8 | 57.8 | 55.3 | 48.9 | 29.3 | 35.3 | 47.4 | 25 | 39.6 | 28 | 43 | 19.5 | 26.2 | 32.7 | 21.9 | 26 | 25.3 | 30.5 | 35.2 | 22.6 | 70.8 | 25.7 |
| Total expenses | 4,829 | 4,845 | 4,582 | 4,481 | 4,355 | 4,180 | 4,087 | 3,836 | 3,926 | 3,456 | 3,350 | 3,318 | 3,304 | 3,218 | 3,120 | 3,022 | 2,959 | 2,820 | 2,833 | 2,709 | 2,696 | 2,818 | 2,791 | 2,462 | 2,310 | 2,179 | 1,791 | 1,666 | 1,697 | 1,650 | 1,759 | 1,636 | 1,585 |
| EBITDA | 724 | 792 | 721 | 672 | 607 | 621 | 565 | 626 | 667 | 630 | 572 | 537 | 545 | 512 | 454 | 434 | 457 | 444 | 462 | 413 | 399 | 300 | 361 | 400 | 483 | 308 | 240 | 235 | 265 | 174 | 196 | 167 | 146 |
| EBITDA margin | 13.5% | 14.6% | 14.1% | 13.5% | 12.7% | 13.5% | 12.7% | 14.9% | 15.3% | 16.0% | 15.0% | 14.4% | 14.6% | 14.1% | 13.1% | 12.9% | 13.7% | 14.0% | 14.4% | 13.6% | 13.3% | 9.9% | 11.8% | 14.4% | 17.8% | 12.8% | 12.2% | 12.8% | 14.0% | 9.8% | 10.3% | 9.5% | 8.6% |
| Finance costs | 39.1 | 38.4 | 31.6 | 33.2 | 33.8 | 40 | 57.9 | 98.7 | 93.6 | 42.8 | 33.2 | 27.6 | 26.2 | 27.7 | 23.7 | 19.6 | 16.3 | 16.4 | 16.2 | 19.8 | 20.4 | 15.5 | 18.1 | 17.9 | 17.3 | 18.7 | 19.2 | 20.1 | 18.2 | 15.5 | 13 | 11.5 | 13.6 |
| Depreciation | 165 | 165 | 159 | 153 | 149 | 153 | 150 | 149 | 148 | 116 | 85.5 | 93.9 | 82 | 82.9 | 75.2 | 73.1 | 72.9 | 72.1 | 69.8 | 69.3 | 66.8 | 65.9 | 64.4 | 62.6 | 61.9 | 64 | 49.2 | 46.8 | 46 | 33 | 29.6 | 30.5 | 28.5 |
| Profit before tax | 592 | 644 | 540 | 523 | 465 | 530 | 402 | 397 | 448 | 294 | 422 | 491 | 489 | 450 | 482 | 482 | 379 | 385 | 388 | 348 | 336 | 198 | 292 | 321 | 499 | −16.8 | 196 | 192 | 223 | 153 | 176 | 189 | 128 |
| Tax | 147 | 153 | 137 | 126 | 119 | 123 | 102 | 37.7 | 134 | 26 | 106 | 132 | 131 | 105 | 113 | 127 | 103 | 95.3 | 99.9 | 86.1 | 95.7 | 64.6 | 55.2 | 87.1 | 110 | 33.4 | 55.9 | 48.3 | 73.9 | 58.8 | 54.9 | 63.7 | 13 |
| Net profit | 427 | 424 | 385 | 407 | 332 | 349 | 282 | 367 | 289 | 212 | 302 | 364 | 338 | 290 | 364 | 389 | 277 | 239 | 290 | 286 | 200 | 74.4 | 237 | 273 | 346 | −122 | 136 | 152 | 142 | 36 | 109 | 184 | 71.6 |
| Net margin | 8.0% | 7.8% | 7.5% | 8.2% | 6.9% | 7.6% | 6.3% | 8.7% | 6.6% | 5.4% | 7.9% | 9.7% | 9.0% | 8.0% | 10.5% | 11.6% | 8.3% | 7.5% | 9.0% | 9.4% | 6.7% | 2.4% | 7.7% | 9.8% | 12.7% | -5.1% | 6.9% | 8.3% | 7.5% | 2.0% | 5.7% | 10.4% | 4.2% |
| EPS (₹) | 4.31 | 4.24 | 3.88 | 4.09 | 3.38 | 3.49 | 2.82 | 3.78 | 3.05 | 2.28 | 3.00 | 3.64 | 3.41 | 2.89 | 3.79 | 3.56 | 2.77 | 2.36 | 2.88 | 2.91 | 2.01 | 0.58 | 2.37 | 2.79 | 3.55 | -0.83 | 1.91 | 2.18 | 1.99 | 0.36 | 1.57 | 2.69 | 0.94 |
| Net profit YoY | +28.8% | +21.6% | +36.4% | +10.7% | +14.7% | +64.3% | −6.5% | +0.9% | −14.3% | −26.7% | −17.3% | −6.6% | +22.0% | +21.1% | +25.6% | +36.3% | +38.2% | +221.5% | +22.2% | +4.6% | −42.1% | +160.7% | +74.7% | +79.2% | +143.9% | −440.3% | +24.8% | −17.1% | – | −49.7% | – | – | – |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 20,290 | 17,618 | 15,206 | 13,783 | 12,425 | 11,602 | 9,637 | 7,252 | 6,815 |
| Other income | 165 | 193 | 246 | 169 | 140 | 121 | 112 | 157 | 94.2 |
| Total expenses | 18,262 | 16,030 | 13,429 | 12,318 | 11,057 | 10,382 | 8,665 | 6,641 | 6,135 |
| EBITDA | 2,792 | 2,479 | 2,284 | 1,856 | 1,719 | 1,544 | 1,292 | 786 | 839 |
| EBITDA margin | 13.8% | 14.1% | 15.0% | 13.5% | 13.8% | 13.3% | 13.4% | 10.8% | 12.3% |
| Finance costs | 137 | 290 | 130 | 87.2 | 72.8 | 68.7 | 77.9 | 52.5 | 42.8 |
| Depreciation | 627 | 601 | 377 | 304 | 278 | 255 | 242 | 123 | 116 |
| Profit before tax | 2,173 | 1,777 | 1,696 | 1,794 | 1,456 | 1,311 | 809 | 735 | 753 |
| Tax | 535 | 396 | 395 | 447 | 377 | 317 | 274 | 261 | 186 |
| Net profit | 1,547 | 1,287 | 1,215 | 1,320 | 1,015 | 930 | 460 | 457 | 557 |
| Net margin | 7.6% | 7.3% | 8.0% | 9.6% | 8.2% | 8.0% | 4.8% | 6.3% | 8.2% |
| EPS (₹) | 15.59 | 13.06 | 12.32 | 13.02 | 10.15 | 9.30 | 4.99 | 6.47 | 7.85 |
| Net profit YoY | +20.2% | +5.9% | −7.9% | +30.0% | +9.1% | +102.2% | +0.7% | −17.9% | – |
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 | 2,422 | 2,057 | 1,937 | 1,461 | 1,516 |
| Investing cash flow | −1,398 | −2,354 | −1,931 | −828 | −1,322 |
| Financing cash flow | −1,075 | 453 | 256 | −714 | −995 |
| Capital expenditure | 449 | 460 | 335 | 312 | 273 |
| Free cash flow (CFO − capex) | 1,973 | 1,597 | 1,602 | 1,150 | 1,242 |
Net profit trend
annual, ₹ croreFY21
₹930
FY22
₹1,015+9%
FY23
₹1,320+30%
FY24
₹1,215−8%
FY25
₹1,287+6%
FY26
₹1,547+20%
Result filings
as filed with NSE · PDF and XBRL| Period | Basis | Filed | Documents |
|---|---|---|---|
| Q1 FY27 | Consolidated | 24 Jul 2026 | PDF XBRL |
| Q1 FY27 | Standalone | 24 Jul 2026 | PDF XBRL |
| Q4 FY26 | Consolidated · audited | 8 May 2026 | PDF on NSE XBRL |
| Q4 FY26 | Standalone · audited | 8 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 | 3 Nov 2025 | PDF XBRL |
| Q2 FY26 | Standalone | 3 Nov 2025 | PDF XBRL |
| Q1 FY26 | Consolidated | 23 Jul 2025 | PDF on NSE XBRL |
| Q1 FY26 | Standalone | 23 Jul 2025 | PDF on NSE XBRL |
Annual reports
NSE archiveKey ratios
P/E (TTM)5Y avg 70.6×59.2×
P/B5Y avg 5.35×4.47×
ROEFY26, on average equity7.4%
Net margin7.6%
Debt / equity0.10×
Revenue CAGR (3Y)13.8%
Profit CAGR (3Y)5.4%
EPS (TTM)₹16.59
Market cap₹97,297 Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
4.47×
vs 8-point avg 5.35× (−16%)
4.26× low5.35× avg6.67× high
History points are balance-sheet dates (2022 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹34,453 Cr+8%
Net worth₹21,788 Cr+9%
Total borrowings₹2,120 Cr+15%
Cash & bank balances₹3,047 Cr+12%
Investments₹1,154 Cr+82%
Inventories₹3,527 Cr−2%
Trade receivables₹1,148 Cr+32%
Trade payables₹3,875 Cr+10%
Change vs the same date a year earlier.
Revenue mix FY26
India Business62.5%result ₹1,504 Cr
International Business25.7%result ₹626 Cr
Non Branded Business11.7%result ₹280 Cr
Others0.2%result ₹122 Cr
Segment revenue as reported, before inter-segment eliminations.