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 | Q2 FY20 | Q1 FY20 | Q4 FY19 | Q3 FY19 | Q2 FY19 | Q1 FY19 | Q4 FY18 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 917 | 935 | 1,066 | 877 | 814 | 850 | 977 | 796 | 756 | 789 | 888 | 705 | 658 | 693 | 724 | 646 | 685 | 750 | 635 | 682 | 666 | 725 | 599 | 550 | 498 | 563 | 485 | 440 | 462 | 511 | 452 | 390 | 426 |
| Other income | 5.3 | 12.5 | 5.1 | 10.5 | 13.1 | 8.3 | 2.3 | 8.9 | 8.6 | 10.2 | 5.6 | 3.4 | 7.4 | 9.2 | 14.4 | 2.2 | 8.7 | 0.7 | 5.9 | 6.6 | 6.9 | 3.6 | 3.1 | 4.1 | 4 | 3.6 | 3.2 | 3.7 | 5.1 | 3.1 | 2 | 3.9 | 2.9 |
| Total expenses | 852 | 884 | 959 | 828 | 781 | 817 | 897 | 766 | 727 | 764 | 822 | 667 | 625 | 671 | 683 | 617 | 666 | 681 | 582 | 603 | 601 | 613 | 513 | 488 | 454 | 485 | 427 | 399 | 427 | 449 | 406 | 357 | 395 |
| EBITDA | 96.7 | 83.4 | 136 | 77.6 | 61.5 | 62.3 | 110 | 60.2 | 57.1 | 53.5 | 93.4 | 63.5 | 58.1 | 46.3 | 61.4 | 49.9 | 38.4 | 84.9 | 66.8 | 91.2 | 78.3 | 123 | 95.8 | 73.5 | 56.4 | 88.3 | 66.3 | 50.8 | 41.7 | 68.1 | 53 | 40.5 | 38.2 |
| EBITDA margin | 10.5% | 8.9% | 12.7% | 8.8% | 7.6% | 7.3% | 11.2% | 7.6% | 7.6% | 6.8% | 10.5% | 9.0% | 8.8% | 6.7% | 8.5% | 7.7% | 5.6% | 11.3% | 10.5% | 13.4% | 11.8% | 16.9% | 16.0% | 13.4% | 11.3% | 15.7% | 13.7% | 11.6% | 9.0% | 13.3% | 11.7% | 10.4% | 9.0% |
| Finance costs | 4.5 | 4.3 | 3.7 | 3.4 | 3.5 | 3.8 | 4 | 3.7 | 3.4 | 2.8 | 3.2 | 2.9 | 2.8 | 2.8 | 1.5 | 2.4 | 2.2 | 1.6 | 1.5 | 0.8 | 1.6 | 0.9 | 1.4 | 0.7 | 4.1 | 2.5 | 1.1 | 1 | 1.3 | 0.6 | 1.3 | 1.6 | 1.3 |
| Depreciation | 26.6 | 27.9 | 25.2 | 24.5 | 25.3 | 25.5 | 25.8 | 26 | 24.9 | 25.1 | 23.5 | 22.6 | 22.2 | 22.2 | 19.6 | 18.5 | 16.6 | 14.4 | 12.9 | 11 | 11.5 | 9.5 | 8.3 | 9.9 | 7.8 | 7.6 | 7.6 | 8.4 | 6.3 | 6.2 | 6.2 | 6 | 5.7 |
| Profit before tax | 70.9 | 63.9 | 112 | 60.2 | 45.8 | 41.3 | 82.2 | 39.3 | 37.4 | 31.7 | 68.4 | 41.4 | 40.5 | 30.4 | 54.7 | 31.2 | 25 | 68.2 | 58.3 | 119 | 72.2 | 116 | 89.1 | 67 | 48.4 | 81.8 | 60.9 | 45.2 | 39.3 | 64.5 | 47.6 | 36.8 | 34.1 |
| Tax | 14.5 | −27.2 | 22.1 | 12.7 | 8.2 | 7.2 | 18.4 | 11.5 | 9.9 | 10.6 | 21.3 | 12.4 | 10.9 | 7.1 | 15.6 | 8.1 | −1.9 | −1.1 | 16.2 | 20.3 | 16.2 | 23.6 | 18.6 | 14.1 | 8.7 | 16.3 | 12 | 9.1 | 6.8 | 12 | 8.4 | 6.8 | 2.2 |
| Net profit | 56.4 | 91.1 | 89.8 | 47.6 | 37.6 | 34.1 | 63.8 | 27.8 | 27.4 | 21.1 | 47.1 | 29 | 29.6 | 23.3 | 39.2 | 23 | 26.9 | 69.3 | 42.1 | 98.7 | 56 | 92.3 | 70.6 | 52.9 | 39.7 | 65.6 | 49 | 36 | 32.5 | 52.5 | 39.2 | 30 | 31.9 |
| Net margin | 6.1% | 9.8% | 8.4% | 5.4% | 4.6% | 4.0% | 6.5% | 3.5% | 3.6% | 2.7% | 5.3% | 4.1% | 4.5% | 3.4% | 5.4% | 3.6% | 3.9% | 9.2% | 6.6% | 14.5% | 8.4% | 12.7% | 11.8% | 9.6% | 8.0% | 11.6% | 10.1% | 8.2% | 7.0% | 10.3% | 8.7% | 7.7% | 7.5% |
| EPS (₹) | 3.37 | 5.47 | 5.39 | 2.85 | 2.26 | 2.05 | 3.85 | 1.68 | 1.67 | 1.30 | 2.87 | 1.78 | 1.80 | 1.42 | 2.37 | 1.40 | 1.67 | 4.26 | 2.57 | 6.07 | 17.29 | 28.52 | 21.82 | 16.37 | 12.25 | 20.16 | 14.97 | 11.02 | 9.95 | 16.11 | 12.01 | 9.22 | 9.80 |
| Net profit YoY | +49.8% | +167.4% | +40.7% | +71.2% | +37.1% | +61.9% | +35.5% | −4.3% | −7.2% | −9.8% | +20.2% | +26.0% | – | −13.4% | −43.5% | −45.3% | −51.9% | −24.9% | −40.3% | +86.7% | +40.9% | +40.8% | +44.1% | +46.8% | +22.4% | +24.8% | +25.0% | +19.9% | +1.7% | – | – | – | – |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 3,692 | 3,380 | 3,041 | 2,691 | 2,752 | 2,540 | 1,986 | 1,814 | 1,575 |
| Other income | 41.3 | 28 | 26.6 | 27.6 | 21.8 | 17.7 | 14.5 | 14.2 | 10.5 |
| Total expenses | 3,451 | 3,207 | 2,878 | 2,577 | 2,532 | 2,214 | 1,765 | 1,640 | 1,457 |
| EBITDA | 358 | 289 | 268 | 200 | 281 | 370 | 262 | 203 | 148 |
| EBITDA margin | 9.7% | 8.6% | 8.8% | 7.4% | 10.2% | 14.6% | 13.2% | 11.2% | 9.4% |
| Finance costs | 14.9 | 14.9 | 11.7 | 8.2 | 6.1 | 4.6 | 8.6 | 4.7 | 4.3 |
| Depreciation | 103 | 102 | 93.4 | 77.8 | 54.8 | 39.1 | 31.4 | 24.6 | 25.5 |
| Profit before tax | 282 | 200 | 182 | 141 | 271 | 344 | 236 | 188 | 129 |
| Tax | 15.7 | 47 | 55.2 | 36.2 | 33.4 | 72.4 | 46.1 | 34 | 16.7 |
| Net profit | 266 | 153 | 127 | 105 | 237 | 272 | 190 | 154 | 112 |
| Net margin | 7.2% | 4.5% | 4.2% | 3.9% | 8.6% | 10.7% | 9.6% | 8.5% | 7.1% |
| EPS (₹) | 15.97 | 9.25 | 7.74 | 6.39 | 14.56 | 83.86 | 58.65 | 47.27 | 34.55 |
| Net profit YoY | +73.8% | +20.8% | +20.5% | −55.7% | −12.7% | +42.8% | +23.4% | +37.1% | – |
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 | 310 | 165 | 277 | 127 | 87.9 |
| Investing cash flow | 78.1 | −7.1 | −184 | 40.2 | −45 |
| Financing cash flow | −149 | −130 | −143 | −103 | −72.1 |
| Capital expenditure | 33.2 | 34.7 | 43.6 | 35.5 | 301 |
| Free cash flow (CFO − capex) | 277 | 130 | 233 | 91.6 | −213 |
Net profit trend
annual, ₹ croreFY21
₹272
FY22
₹237−13%
FY23
₹105−56%
FY24
₹127+21%
FY25
₹153+21%
FY26
₹266+74%
Result filings
as filed with NSE · PDF and XBRL| Period | Basis | Filed | Documents |
|---|---|---|---|
| Q1 FY27 | Consolidated | 5 Aug 2026 | PDF on NSE XBRL |
| Q1 FY27 | Standalone | 5 Aug 2026 | PDF on NSE XBRL |
| Q4 FY26 | Consolidated · audited | 22 May 2026 | PDF on NSE XBRL |
| Q4 FY26 | Standalone · audited | 22 May 2026 | PDF on NSE XBRL |
| Q3 FY26 | Consolidated | 28 Jan 2026 | PDF on NSE XBRL |
| Q3 FY26 | Standalone | 28 Jan 2026 | PDF on NSE XBRL |
| Q2 FY26 | Consolidated | 30 Oct 2025 | PDF on NSE XBRL |
| Q2 FY26 | Standalone | 30 Oct 2025 | PDF on NSE XBRL |
| Q1 FY26 | Consolidated | 5 Aug 2025 | PDF on NSE XBRL |
| Q1 FY26 | Standalone | 5 Aug 2025 | PDF on NSE XBRL |
Annual reports
NSE archiveKey ratios
P/E (TTM)5Y avg 31.6×12.1×
P/B5Y avg 3.86×2.09×
ROEFY26, on average equity17.8%
Net margin7.2%
Debt / equity0.07×
Revenue CAGR (3Y)11.1%
Profit CAGR (3Y)36.3%
EPS (TTM)₹17.06
Market cap₹3,447 Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
2.09×
vs 8-point avg 3.86× (−46%)
1.78× low3.86× avg6.01× high
History points are balance-sheet dates (2022 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹2,547 Cr+25%
Net worth₹1,648 Cr+22%
Total borrowings₹112 Cr−2%
Cash & bank balances₹334 Cr+266%
Investments₹19 Cr−84%
Inventories₹811 Cr+16%
Trade receivables₹340 Cr+5%
Trade payables₹268 Cr+15%
Change vs the same date a year earlier.
Revenue mix FY26
United States of America48.5%result ₹164 Cr
United Kingdom21.9%result ₹98.5 Cr
India12.4%result ₹177 Cr
Europe (excluding United Kingdom)8.6%result ₹11.4 Cr
Rest of world8.6%result ₹126 Cr
Segment revenue as reported, before inter-segment eliminations.