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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	Q4 FY22	Q3 FY22	Q2 FY22	Q1 FY22	Q4 FY21	Q3 FY21	Q2 FY21	Q1 FY21	Q4 FY20	Q3 FY20	Q4 FY18
Revenue from operations	306	298	258	250	179	49.4	32.6	29.9	42.8	218	25.3	24.4	24	34.9	20.1	16.8	36.5	14.6	14.4	18.4	18.4	13.2	12.6	15.1	35.5	18.9	0
Other income	0.7	9.5	2.4	4.5	2.2	1.9	0.4	1.7	1.5	0.4	2.4	1.8	1.3	1	0.6	0.6	1.4	2.7	−0	0.1	0	1	1.8	2	0.7	2.9	0
Total expenses	245	251	221	210	140	13.1	10	9.9	9.8	11.7	13.1	12.4	15.4	11.3	10.3	13.6	22.2	14.4	19.1	10.5	11.7	11.6	12.9	13.8	14.8	16.2	0
EBITDA	71.3	57.3	48.5	50.5	46.8	37.3	23.6	21	34	207	13.1	13.1	9.7	24.4	10.2	3.6	17.5	1.3	−4.3	8.4	7.1	2.1	0.1	1.7	20.3	3.4	0
EBITDA margin	23.3%	19.3%	18.8%	20.2%	26.2%	75.5%	72.3%	70.3%	79.4%	95.1%	51.9%	53.6%	40.6%	69.9%	50.7%	21.7%	47.9%	9.0%	-29.7%	45.7%	38.7%	15.7%	0.9%	11.0%	57.3%	17.8%	–
Finance costs	6.5	6.9	6.8	6.6	4.8	0.2	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.2	0	0.1	0.5	0.2	0.1	0.1	0	0	0	0	0	0.1	0
Depreciation	4	4.3	4.3	4.3	3.2	0.8	0.7	0.8	0.7	0.7	0.7	0.7	0.8	0.6	0.3	0.3	2.7	1	0.4	0.4	0.4	0.4	0.4	0.4	−0.4	0.6	0
Profit before tax	61.4	55.5	39.8	44.1	41.1	38.1	22.9	21.7	34.4	206	14.6	13.8	9.9	24.5	10.5	3.8	15.7	2.8	−4.7	8.1	6.7	2.7	1.6	3.2	21.4	5.7	0
Tax	28.2	4.9	14.9	15.9	19.8	16.9	5.7	7.6	9.9	30.6	3.5	5.2	13.2	4.5	3.5	3.9	−0.7	2.3	1.3	1.8	2.9	0.7	0.7	0.2	2.3	1.7	0
Net profit	125	164	105	103	158	107	106	88.9	110	269	102	90.7	70.7	98.6	64.5	33.3	76.2	33.6	19.3	31.6	36.8	27.6	19.3	−9.9	27.8	18.1	0
Net margin	40.9%	55.2%	40.5%	41.1%	88.6%	217.1%	324.5%	297.7%	257.8%	123.8%	404.8%	371.9%	294.4%	282.7%	321.2%	197.7%	208.7%	231.1%	133.8%	171.3%	199.8%	208.8%	152.7%	-65.4%	78.3%	95.7%	–
EPS (₹)	5.50	7.25	4.64	4.52	7.08	4.82	4.76	4.00	4.97	12.13	4.61	4.08	3.18	4.44	2.01	1.60	3.66	1.61	0.93	1.52	2.44	1.83	1.28	-0.65	1.84	1.20	0.00
Net profit YoY	−21.1%	+53.3%	−0.9%	+15.7%	+43.5%	−60.2%	+3.2%	−2.0%	+56.1%	+173.1%	+58.7%	+172.8%	–	+29.4%	+91.9%	+72.4%	+106.9%	+21.6%	−0.0%	+419.4%	+32.3%	+52.9%	–	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY18
Revenue from operations	985	155	291	90.4	83.9	59.4	92.6	67.5
Other income	18.6	5.4	5.9	3.5	4.1	4.9	5.9	4.1
Total expenses	823	42.9	52.5	47.3	66.2	50.1	63.7	47.6
EBITDA	203	116	243	45.2	23	11	30.5	21.2
EBITDA margin	20.6%	74.9%	83.4%	50.0%	27.4%	18.5%	32.9%	31.4%
Finance costs	25.2	1.1	1.2	0.4	0.8	0.2	0.3	0.2
Depreciation	16	3	2.9	1.6	4.4	1.5	1.3	1
Profit before tax	180	117	245	46.7	21.9	14.2	34.8	24.1
Tax	55.5	40	52.5	15.2	4.6	4.6	5.5	5.3
Net profit	530	412	533	238	161	73.9	78.1	18.8
Net margin	53.8%	266.6%	183.0%	262.7%	191.5%	124.4%	84.4%	27.9%
EPS (₹)	23.49	18.55	24.00	10.70	7.72	4.89	5.17	8.24
Net profit YoY	+28.7%	−22.7%	+124.4%	+47.8%	+117.5%	−5.4%	–	–

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	FY21
Operating cash flow	266	188	132	100	29.9	18.9
Investing cash flow	−159	−148	136	−25.2	−345	−9.6
Financing cash flow	−50.2	−211	−103	−72.9	319	−7.9
Capital expenditure	7.2	0.9	0.2	0.8	0.4	0.4
Free cash flow (CFO − capex)	259	187	132	99.4	29.5	18.5

Net profit trend

annual, ₹ crore

FY21

₹73.9

FY22

₹161+118%

FY23

₹238+48%

FY24

₹533+124%

FY25

₹412−23%

FY26

₹530+29%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	4 Aug 2026	PDF on NSE XBRL
Q1 FY27	Standalone	4 Aug 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	19 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	19 May 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	3 Feb 2026	PDF on NSE XBRL
Q3 FY26	Standalone	3 Feb 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	4 Nov 2025	PDF on NSE XBRL
Q2 FY26	Standalone	4 Nov 2025	PDF on NSE XBRL
Q1 FY26	Consolidated	6 Aug 2025	PDF on NSE XBRL
Q1 FY26	Standalone	6 Aug 2025	PDF on NSE XBRL

Annual reports

NSE archive

FY262.58 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18

Key ratios

P/E (TTM)5Y avg 11.6×20.4×

P/B5Y avg 1.12×1.68×

ROEFY26, on average equity9.1%

Net margin53.8%

Debt / equity0.04×

Revenue CAGR (3Y)121.7%

Profit CAGR (3Y)30.7%

EPS (TTM)₹22.37

Market cap₹10,147 Cr

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

P/B vs history

1.68×

vs 8-point avg 1.12× (+50%)

0.49× low1.12× avg2.33× high

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

Balance sheet 31 Mar 2026

Total assets₹6,748 Cr+16%

Net worth₹6,033 Cr+8%

Total borrowings₹220 Cr

Cash & bank balances₹86 Cr+479%

Investments₹2,967 Cr−1%

Inventories₹152 Cr+31843%

Trade receivables₹209 Cr+3474%

Trade payables₹119 Cr+6590%

Change vs the same date a year earlier.

Revenue mix FY26

Manufacturing81.5%result ₹90.1 Cr

Investments9.3%result ₹66 Cr

Overseas Support Services6.6%result ₹29.1 Cr

Other Segments2.6%result ₹−2 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	54.99	54.99	55.01	54.97	54.97	54.97	54.97	54.97	54.97	54.97	55.29	55.59
FII	3.27	3.20	3.15	2.60	1.43	1.01	1.02	1.04	0.79	0.23	0.29	0.22
DII	4.27	4.75	4.78	4.90	5.15	5.19	5.19	5.19	5.30	5.45	5.46	5.46
of which MF	3.95	3.82	3.85	3.94	3.98	–	–	–	–	–	–	–
Retail	25.37	25.21	25.35	25.81	26.73	27.20	27.23	27.25	27.41	27.63	26.89	26.73
Other public	11.46	11.21	11.07	11.09	11.09	11.00	10.96	10.92	10.90	11.09	11.43	11.36

37,327 shareholders · NSE shareholding pattern filings.