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 FY18 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 102 | 132 | 132 | 98.1 | 94.9 | 111 | 117 | 125 | 93.9 | 89.6 | 71.8 | 50.3 | 70.7 | 81.1 | 115 | 138 | 150 | 152 | 120 | 75.3 | 189 | 168 | 144 | 137 | 111 | 159 | 153 | 158 | 142 | 0 |
| Other income | 108 | 1.6 | 2.2 | 2 | 2.8 | 1.8 | 1.5 | 1.9 | 2.5 | 17.2 | 2.6 | 3.2 | 22.9 | 13.2 | 3 | 1.9 | 1.1 | 0.6 | 2.1 | 1.7 | 1.5 | 0.5 | 2.1 | 3.2 | 0.7 | 1.3 | 0.6 | 1.4 | 0.3 | 0 |
| Total expenses | 180 | 161 | 159 | 113 | 105 | 104 | 103 | 105 | 93.7 | 103 | 93.1 | 87.6 | 91.3 | 75.4 | 72.2 | 78.7 | 77.3 | 75.8 | 61.6 | 47.2 | 152 | 145 | 135 | 131 | 119 | 164 | 145 | 154 | 144 | 0 |
| EBITDA | −52.1 | 2.6 | 6.2 | 15.7 | 18.4 | 35.7 | 43.3 | 48.4 | 28.6 | 18.3 | 7 | −8.8 | 7.4 | 25.9 | 61 | 73.6 | 85.6 | 84.4 | 66.7 | 33.9 | 45.9 | 28 | 18 | 15.1 | 0.9 | 5.1 | 17.1 | 13.2 | 7.6 | 0 |
| EBITDA margin | -50.9% | 2.0% | 4.7% | 16.0% | 19.4% | 32.3% | 37.0% | 38.8% | 30.5% | 20.5% | 9.7% | -17.5% | 10.4% | 32.0% | 53.1% | 53.5% | 57.0% | 55.7% | 55.7% | 45.0% | 24.2% | 16.6% | 12.5% | 11.0% | 0.8% | 3.2% | 11.2% | 8.3% | 5.3% | – |
| Finance costs | 5.9 | 5.9 | 6.6 | 5.9 | 6.2 | 7.3 | 7.7 | 7.9 | 8.3 | 8.9 | 9.3 | 9.5 | 9.5 | 5.5 | 4.6 | 4.1 | 4.2 | 4 | 2.9 | 2 | 3.2 | 3.6 | 4.5 | 4.2 | 4.3 | 5 | 4.5 | 5 | 5 | 0 |
| Depreciation | 19.6 | 25.4 | 26.2 | 24.3 | 22.2 | 21.8 | 21.2 | 20.5 | 20.1 | 23.3 | 18.9 | 19 | 18.5 | 14.8 | 13.7 | 10.5 | 8.5 | 4.6 | 5.7 | 3.7 | 5.2 | 1.3 | 4.6 | 4.6 | 4.5 | 5.7 | 4.3 | 4 | 4 | 0 |
| Profit before tax | 30.4 | −28.3 | −24.4 | −8.5 | −7.2 | −5 | 15.8 | 21.9 | 2.7 | 3.3 | −18.7 | −34.4 | 2.2 | 18.8 | 45.8 | 60.8 | 74 | 74.7 | 60.2 | 29.9 | 47.1 | 25.7 | 11 | 9.4 | −7.3 | −89.9 | 9 | 5.6 | −1.2 | 0 |
| Tax | 0.9 | 1.3 | 0.9 | 0.6 | 0.6 | −0.3 | 0.5 | 0.6 | 0.8 | 0.9 | 0.8 | 0.9 | 0.9 | 0.8 | 0.7 | 0.5 | 0.4 | 0 | 0.6 | 0.5 | 6 | 1.9 | 1.2 | 0.2 | −0.2 | −19.1 | 0.1 | 0.3 | −0.2 | 0 |
| Net profit | 29.5 | −29.5 | −25.3 | −9.2 | −7.8 | −4.7 | 15.3 | 21.3 | 2 | 2.4 | −19.5 | −35.2 | 1.3 | 18.1 | 45 | 60.3 | 73.6 | 74.7 | 59.6 | 29.4 | 47.3 | 31.5 | 12.7 | 10 | −9.9 | −76.2 | 8.6 | 4.6 | −3.1 | 0 |
| Net margin | 28.8% | -22.3% | -19.1% | -9.3% | -8.2% | -4.2% | 13.1% | 17.1% | 2.1% | 2.7% | -27.1% | -70.0% | 1.9% | 22.3% | 39.2% | 43.8% | 49.0% | 49.3% | 49.8% | 39.1% | 25.0% | 18.7% | 8.9% | 7.2% | -8.9% | -48.1% | 5.6% | 2.9% | -2.2% | – |
| EPS (₹) | 13.44 | -13.44 | -11.52 | -4.17 | -3.56 | -2.13 | 6.96 | 9.69 | 0.90 | 1.08 | -8.87 | -16.04 | 0.60 | 8.22 | 20.50 | 27.45 | 33.50 | 34.02 | 27.14 | 13.41 | 21.56 | 14.34 | 5.80 | 4.53 | -4.51 | -34.71 | 3.93 | 2.08 | 1.42 | 0.00 |
| Net profit YoY | +477.8% | −529.4% | −265.7% | −143.0% | −496.4% | −297.1% | +178.5% | +160.4% | +50.4% | −86.8% | −143.3% | −158.4% | −98.2% | −75.8% | −24.5% | +104.8% | +55.4% | +137.3% | +367.8% | +195.9% | +578.1% | +141.3% | +47.5% | +118.2% | −217.9% | – | – | – | – | – |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY18 |
|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 548 | 446 | 282 | 484 | 536 | 560 | 612 | 541 |
| Other income | 8.7 | 7.7 | 45.8 | 19.2 | 5.5 | 4.2 | 3.6 | 3.6 |
| Total expenses | 631 | 405 | 375 | 304 | 336 | 528 | 607 | 461 |
| EBITDA | 43.4 | 156 | 23.9 | 246 | 231 | 64.1 | 43 | 112 |
| EBITDA margin | 7.9% | 35.0% | 8.4% | 50.9% | 43.2% | 11.4% | 7.0% | 20.6% |
| Finance costs | 26.2 | 31.3 | 37.2 | 18.4 | 12.1 | 16.7 | 19.5 | 12.8 |
| Depreciation | 100 | 83.6 | 79.7 | 47.5 | 19.2 | 15 | 17.9 | 19 |
| Profit before tax | −71.5 | 35.6 | −47.6 | 199 | 212 | 38.8 | −76.5 | 82 |
| Tax | 3.6 | 1.7 | 3.5 | 2.5 | 7.1 | 3.1 | −19 | 4.3 |
| Net profit | −75.1 | 33.9 | −51 | 197 | 211 | 44.3 | −66.1 | 92 |
| Net margin | -13.7% | 7.6% | -18.1% | 40.7% | 39.4% | 7.9% | -10.8% | 17.0% |
| EPS (₹) | -34.18 | 15.44 | -23.23 | 89.67 | 96.12 | 20.16 | -30.12 | 41.92 |
| Net profit YoY | −321.4% | +166.5% | −125.9% | −6.7% | +376.8% | +166.9% | – | – |
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 | 91.7 | 169 | 19 | 231 | 118 |
| Investing cash flow | 23.9 | −41.5 | 95.6 | −498 | −78.6 |
| Financing cash flow | −116 | −115 | −129 | 227 | 15.2 |
| Capital expenditure | 39.2 | 0 | 43.5 | 493 | 284 |
| Free cash flow (CFO − capex) | 52.4 | 169 | −24.5 | −262 | −166 |
Net profit trend
annual, ₹ croreFY21
₹44.3
FY22
₹211+377%
FY23
₹197−7%
FY24
₹−51−126%
FY25
₹33.9+166%
FY26
₹−75.1−321%
Result filings
as filed with NSE · PDF and XBRL| Period | Basis | Filed | Documents |
|---|---|---|---|
| Q1 FY27 | Consolidated | 7 Aug 2026 | PDF on NSE XBRL |
| Q1 FY27 | Standalone | 7 Aug 2026 | PDF on NSE XBRL |
| Q4 FY26 | Consolidated · audited | – | PDF on NSE XBRL |
| Q4 FY26 | Consolidated · audited | 19 May 2026 | PDF on NSE XBRL |
| Q4 FY26 | Standalone · audited | – | PDF on NSE XBRL |
| Q4 FY26 | Standalone · audited | 19 May 2026 | PDF on NSE XBRL |
| Q3 FY26 | Consolidated | 13 Feb 2026 | PDF on NSE XBRL |
| Q3 FY26 | Standalone | 13 Feb 2026 | PDF on NSE XBRL |
| Q2 FY26 | Consolidated | 11 Nov 2025 | PDF on NSE XBRL |
| Q2 FY26 | Standalone | 11 Nov 2025 | PDF on NSE XBRL |
Annual reports
NSE archiveKey ratios
P/E (TTM)5Y avg 9.5×-10.6×
P/B5Y avg 0.77×0.54×
ROEFY26, on average equity-10.2%
Net margin-13.7%
Debt / equity0.43×
Revenue CAGR (3Y)4.3%
Profit CAGR (3Y)–
EPS (TTM)₹-15.71
Market cap₹365 Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
0.54×
vs 8-point avg 0.77× (−30%)
0.37× low0.77× avg1.08× high
History points are balance-sheet dates (2022 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹1,141 Cr−5%
Net worth₹674 Cr−16%
Total borrowings₹290 Cr−12%
Cash & bank balances₹21 Cr+6%
Investments₹11 Cr−30%
Inventories₹12 Cr+21%
Trade receivables₹46 Cr+451%
Trade payables₹106 Cr+160%
Change vs the same date a year earlier.
Revenue mix FY26
Shipping64.4%result ₹77.8 Cr
Freight Forwarding32.8%result ₹31.9 Cr
Others2.8%result ₹2.6 Cr
Segment revenue as reported, before inter-segment eliminations.