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Quarterly results

standalone · as filed with NSE · Q1 FY27 back to Q4 FY18

₹ crore	Q1 FY27	Q4 FY26	Q3 FY26	Q2 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	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	86.1	82	50.1	45.9	77.5	61	67.3	80	59.7	68.5	60.7	57.7	68.3	111	134	88.7	83.1	74	28.4	43.6	7.5	36.4	51.7	51	53.1	83.3	63	42.3	86.9	31.9
Other income	3	1.1	2.3	1.8	2.1	1.4	0.8	13.7	1.9	0.3	−0.3	1.2	1.3	0.8	0.6	0.4	−0.3	1.3	4	1.1	0.1	−1.1	1.2	2.5	4.4	10	6	6.3	1.7	2.2
Total expenses	88.5	86.1	51.9	46.5	77.1	61.5	64.9	80	58.5	67.1	58.1	56.8	67.3	109	131	87.5	81.5	74.4	32.3	42.4	12.9	45.1	52.9	51.5	55.3	88.8	67.8	39.8	79.2	37.3
EBITDA	−0.7	−1.5	0.3	1.4	2.5	1.3	4.2	1.8	3	3.7	5.5	4.1	5	5.6	6.7	4.6	7.4	5.8	1.4	6.5	−0.6	−1.9	4.3	5.4	3.8	2.7	0.4	5.6	12.3	0.3
EBITDA margin	-0.9%	-1.8%	0.5%	3.1%	3.2%	2.1%	6.2%	2.3%	5.1%	5.5%	9.1%	7.1%	7.4%	5.1%	5.0%	5.2%	8.9%	7.8%	4.8%	15.0%	-8.3%	-5.3%	8.4%	10.7%	7.2%	3.3%	0.7%	13.3%	14.1%	1.1%
Finance costs	0.8	1.5	1	0.9	1	1	0.9	0.9	0.8	1.5	2	2.3	1.3	2.6	2.7	2.7	4.9	5.3	4.3	4.4	3.9	5.5	4.4	4.7	4.8	7	3.9	2	3.5	4.8
Depreciation	0.9	1.1	1.1	1.1	1.1	0.8	0.9	1	1.1	0.9	0.9	0.9	2.6	1	0.9	0.8	0.9	0.9	1	1	1	1.3	1	1.2	1.2	1.3	1.3	1.1	1.1	1
Profit before tax	0.6	−2.9	0.5	1.2	2.5	0.9	3.2	13.6	3	1.6	2.4	2.1	2.4	2.8	3.7	1.6	1.3	0.9	0.1	2.2	−5.3	−9.8	0.1	10.3	2.2	4.5	1.2	8.8	9.4	−3.2
Tax	0.6	−2	1.8	0.4	0.5	1	0.8	4	1	0.4	0.6	0.5	0.6	0.1	0.1	0.1	0.1	0.2	0	0.4	0	−3	1.7	2.5	0.6	1.5	0.3	1.9	3.3	−1.2
Net profit	0	−1.1	−1.2	0.8	2	−0.2	2.4	10.1	2.1	1.2	1.8	1.6	1.8	2.7	3.5	1.5	1.2	0.6	0	1.8	−5.3	−6.8	−1.6	7.8	1.6	3	0.9	6.9	6.2	−2
Net margin	0.0%	-1.3%	-2.5%	1.7%	2.5%	-0.3%	3.6%	12.6%	3.5%	1.8%	2.9%	2.7%	2.6%	2.5%	2.6%	1.6%	1.5%	0.9%	0.1%	4.2%	-70.8%	-18.7%	-3.0%	15.3%	3.0%	3.6%	1.4%	16.3%	7.1%	-6.3%
EPS (₹)	0.00	0.01	-0.01	0.01	0.01	0.00	0.01	0.06	0.02	0.01	0.01	0.01	0.02	0.03	0.05	0.02	0.02	0.01	0.01	0.06	-0.19	-0.24	0.00	0.28	0.06	0.11	0.04	0.25	0.23	-0.07
Net profit YoY	–	−155.5%	−550.1%	−68.3%	−4.2%	−115.5%	+37.3%	+549.1%	+15.5%	−54.9%	−50.2%	+6.1%	+45.9%	–	+446.7%	–	–	−64.9%	+101.0%	−76.4%	−436.8%	−325.7%	−273.7%	+13.1%	−74.6%	+250.7%	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY20	FY19	FY18
Revenue from operations	262	286	247	403	250	192	245	367
Other income	6.2	5.1	3.1	3.2	1.7	7	24.5	5
Total expenses	267	284	241	395	250	205	247	329
EBITDA	3.5	9.8	16.3	21.9	23.1	11.7	19.2	56.9
EBITDA margin	1.3%	3.4%	6.6%	5.4%	9.2%	6.1%	7.8%	15.5%
Finance costs	4.3	3.5	6.6	4	19.1	19.4	15.8	14.4
Depreciation	4.2	4	3.8	10.6	3.6	4.8	4.8	3.8
Profit before tax	1.2	20.2	9.1	10.5	2.1	2.9	23.2	43.6
Tax	0.4	5.5	2.5	1	0.7	1.9	6.8	15
Net profit	0.1	14.3	6.6	9.5	1.4	1	16.4	28.6
Net margin	0.0%	5.0%	2.7%	2.4%	0.6%	0.5%	6.7%	7.8%
EPS (₹)	0.00	0.09	0.05	0.10	0.02	0.04	0.59	1.02
Net profit YoY	−99.1%	+115.9%	−30.6%	+584.2%	–	−93.8%	−42.8%	–

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	−112	−43.5	119	96.6	−17.2
Investing cash flow	95.6	47	−203	−58.1	0.3
Financing cash flow	15.6	−3.4	82.3	41.1	20
Capital expenditure	3.5	3.7	4.4	5	1.7
Free cash flow (CFO − capex)	−115	−47.2	115	91.6	−18.9

Net profit trend

annual, ₹ crore

FY20

₹1

FY22

₹1.4+37%

FY23

₹9.5+584%

FY24

₹6.6−31%

FY25

₹14.3+116%

FY26

₹0.1−99%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	27 Aug 2026	PDF on NSE XBRL
Q1 FY27	Standalone	27 Aug 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	2 Jul 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	–	PDF on NSE XBRL
Q4 FY26	Standalone · audited	–	PDF on NSE XBRL
Q4 FY26	Standalone · audited	2 Jul 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	–	PDF on NSE XBRL
Q3 FY26	Consolidated	5 Feb 2026	PDF on NSE XBRL
Q3 FY26	Standalone	–	PDF on NSE XBRL
Q3 FY26	Standalone	5 Feb 2026	PDF on NSE XBRL

Annual reports

NSE archive

FY253.53 MB FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17 FY16

Key ratios

P/E (TTM)5Y avg 304.0×-94.1×

P/B5Y avg 1.11×0.37×

ROEFY26, on average equity0.0%

Net margin0.0%

Debt / equity0.10×

Revenue CAGR (3Y)-13.4%

Profit CAGR (3Y)-76.3%

EPS (TTM)₹-0.01

Market cap₹144 Cr

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

P/B vs history

0.37×

vs 8-point avg 1.11× (−67%)

0.35× low1.11× avg1.85× high

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

Balance sheet 31 Mar 2026

Total assets₹479 Cr−1%

Net worth₹391 Cr+0%

Total borrowings₹39 Cr+104%

Cash & bank balances₹0 Cr−99%

Investments₹104 Cr−42%

Inventories₹32 Cr+11%

Trade receivables₹109 Cr+3464%

Trade payables₹38 Cr−23%

Change vs the same date a year earlier.

Revenue mix FY26

Chemical, Polymers & Special Additives55.3%result ₹19.4 Cr

Infra & Energy44.7%result ₹1.7 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	May 24	Mar 24	Dec 23
Promoter	10.65	10.65	10.65	10.65	10.65	10.65	10.65	10.66	10.66	10.66	13.58	6.87
FII	0.00	0.00	0.00	0.05	0.05	0.02	0.02	0.00	0.00	0.01	0.01	0.01
Retail	75.45	75.45	75.13	74.59	74.59	74.14	73.91	73.74	73.72	84.51	80.27	86.28
Other public	13.90	13.90	14.22	14.71	14.71	15.19	15.42	15.60	15.62	4.82	6.14	6.84

5,67,693 shareholders · NSE shareholding pattern filings.