Quarterly results
standalone · as filed with NSE · Q1 FY27 back to Q4 FY17
| ₹ 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 | 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 FY17 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 1,089 | 971 | 1,126 | 807 | 885 | 780 | 1,027 | 661 | 786 | 669 | 889 | 549 | 679 | 594 | 777 | 506 | 588 | 459 | 338 | 177 | 352 | 470 | 176 | 78.1 | 333 | 562 | 314 | 453 | 345 | 466 | 262 | 361 | 297 |
| Other income | 2.7 | 4.7 | 4 | 3.4 | 2.9 | 2.3 | 3.4 | 1.8 | 4.6 | 4.4 | 13 | 2 | 1.5 | 7.5 | 0.7 | 2.7 | 4.1 | 2.8 | 4.1 | 4.5 | 4.3 | 0.3 | 15 | 1.4 | 0.8 | 0.4 | 1.2 | 2.1 | 2.3 | 1.7 | 1 | 0.9 | 1.2 |
| Total expenses | 1,032 | 964 | 1,015 | 824 | 845 | 784 | 960 | 721 | 781 | 725 | 865 | 638 | 709 | 653 | 751 | 524 | 564 | 470 | 361 | 220 | 359 | 407 | 216 | 125 | 344 | 486 | 338 | 429 | 334 | 401 | 273 | 325 | 281 |
| EBITDA | 161 | 106 | 210 | 71.5 | 126 | 68.1 | 171 | 38.6 | 99 | 40.2 | 120 | 0.7 | 52.5 | 22.9 | 104 | 53.6 | 88.7 | 50.3 | 20.6 | −2 | 33.6 | 104 | −0.3 | −5.8 | 27.8 | 117 | 11.3 | 57.8 | 17.8 | 73.3 | −3.9 | 43.2 | 23.1 |
| EBITDA margin | 14.8% | 10.9% | 18.6% | 8.9% | 14.3% | 8.7% | 16.7% | 5.8% | 12.6% | 6.0% | 13.5% | 0.1% | 7.7% | 3.9% | 13.3% | 10.6% | 15.1% | 11.0% | 6.1% | -1.1% | 9.5% | 22.1% | -0.2% | -7.5% | 8.4% | 20.8% | 3.6% | 12.8% | 5.2% | 15.7% | -1.5% | 12.0% | 7.8% |
| Finance costs | 19.8 | 19.2 | 20.6 | 17.5 | 18.2 | 17.4 | 42.4 | 39.1 | 37.5 | 35.9 | 37.6 | 35.9 | 33 | 33.6 | 30.7 | 27.9 | 24.7 | 23.5 | 16.9 | 15.6 | 14.6 | 15 | 14.7 | 14.6 | 13.9 | 15.8 | 13.1 | 12 | 0.3 | 0.9 | 0.2 | 0.2 | 0.2 |
| Depreciation | 84 | 80.1 | 77.9 | 71.1 | 67.9 | 54.4 | 62.6 | 59.2 | 56.8 | 60.7 | 58.3 | 53.2 | 49.9 | 48.4 | 47.3 | 44.1 | 40.2 | 37.6 | 27.2 | 25.5 | 25.6 | 25.4 | 25.7 | 26.3 | 25.2 | 24.5 | 22.3 | 22 | 7.2 | 7.2 | 6.7 | 6.5 | 6.7 |
| Profit before tax | 59.5 | 12.5 | 113 | −13.6 | 42.9 | 22.9 | 69.7 | −58 | 9.3 | −52 | 36.9 | −86.4 | −29 | −51.6 | 26.4 | −15.7 | 27.8 | −8 | −19.5 | −38.5 | −2.3 | 63.7 | −25.7 | −45.4 | −10.4 | 77 | −22.9 | 25.9 | 5.1 | 67 | −9.7 | 37.4 | 17.5 |
| Tax | 12.3 | 1.3 | 24.9 | −4.7 | 9.3 | 4.4 | −1.9 | −1.5 | −2.8 | −13.1 | 8.7 | −22.3 | −7 | −14.6 | 6.4 | −4.4 | 7.4 | −5.4 | −5.3 | −9.8 | −0.8 | 15.8 | −6.8 | −11.7 | −2 | 18.8 | −4.8 | 8.3 | 6 | 25.3 | −5.7 | 12.5 | 1.6 |
| Net profit | 47.2 | 11.3 | 88 | −8.9 | 33.6 | 18.5 | 71.6 | −56.5 | 12.1 | −38.9 | 28.2 | −64.1 | −21.9 | −37 | 20 | −11.3 | 20.5 | −2.6 | −14.1 | −28.7 | −1.5 | 47.9 | −19 | −33.6 | −8.4 | 58.2 | −18 | 17.6 | −0.9 | 41.7 | −4 | 24.9 | 15.9 |
| Net margin | 4.3% | 1.2% | 7.8% | -1.1% | 3.8% | 2.4% | 7.0% | -8.5% | 1.5% | -5.8% | 3.2% | -11.7% | -3.2% | -6.2% | 2.6% | -2.2% | 3.5% | -0.6% | -4.2% | -16.2% | -0.4% | 10.2% | -10.8% | -43.1% | -2.5% | 10.4% | -5.7% | 3.9% | -0.3% | 8.9% | -1.5% | 6.9% | 5.4% |
| EPS (₹) | 5.94 | 1.49 | 11.08 | -1.12 | 4.23 | 9.35 | 36.18 | -28.57 | 6.14 | -19.68 | 14.28 | -32.43 | -11.10 | -18.70 | 10.11 | -5.73 | 10.35 | -1.33 | -7.05 | -14.57 | -0.77 | 26.34 | -10.44 | -18.52 | -4.65 | 32.07 | -9.94 | 9.70 | -0.50 | 23.00 | -2.06 | 13.72 | 8.79 |
| Net profit YoY | +40.5% | −39.1% | +22.8% | +84.3% | +176.8% | +147.6% | +153.7% | +11.9% | +155.3% | −5.3% | +41.3% | −466.8% | −207.3% | −1314.6% | – | +20.0% | +171.2% | −77.2% | +25.4% | +14.6% | +82.5% | −17.8% | −5.1% | −291.1% | −837.0% | +39.7% | −348.4% | −29.2% | – | – | – | – | – |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY17 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 3,789 | 3,254 | 2,786 | 2,465 | 1,666 | 1,075 | 1,662 | 1,434 | 252 |
| Other income | 15 | 12.1 | 21 | 15 | 14 | 21 | 4.5 | 5.9 | 1.3 |
| Total expenses | 3,648 | 3,246 | 2,937 | 2,493 | 1,670 | 1,106 | 1,597 | 1,330 | 243 |
| EBITDA | 513 | 377 | 213 | 269 | 204 | 131 | 214 | 133 | 14.9 |
| EBITDA margin | 13.6% | 11.6% | 7.6% | 10.9% | 12.3% | 12.2% | 12.9% | 9.3% | 5.9% |
| Finance costs | 75.5 | 136 | 142 | 117 | 77.2 | 58.9 | 54.8 | 1.6 | 0.9 |
| Depreciation | 297 | 233 | 222 | 180 | 131 | 103 | 93.9 | 27.6 | 5.6 |
| Profit before tax | 155 | 44 | −131 | −13 | 10.4 | −9.7 | 69.5 | 99.8 | 9.7 |
| Tax | 30.8 | −1.8 | −33.7 | −5.2 | −1.2 | −3.5 | 20.2 | 38.2 | 3.3 |
| Net profit | 124 | 45.8 | −96.8 | −7.8 | 11.6 | −6.2 | 49.3 | 61.6 | 6.4 |
| Net margin | 3.3% | 1.4% | -3.5% | -0.3% | 0.7% | -0.6% | 3.0% | 4.3% | 2.6% |
| EPS (₹) | 11.79 | 23.12 | -48.93 | -3.97 | 5.90 | -3.37 | 27.18 | 34.01 | 3.57 |
| Net profit YoY | +170.9% | +147.3% | −1132.8% | −167.4% | +287.7% | −112.6% | −19.9% | – | – |
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 | 501 | 349 | 386 | 181 | −11.3 |
| Investing cash flow | −174 | −122 | −118 | −159 | 124 |
| Financing cash flow | −346 | −215 | −259 | −37.4 | −104 |
| Capital expenditure | 160 | 124 | 123 | 278 | 151 |
| Free cash flow (CFO − capex) | 341 | 226 | 263 | −97.6 | −162 |
Net profit trend
annual, ₹ croreFY21
₹−6.2
FY22
₹11.6+288%
FY23
₹−7.8−167%
FY24
₹−96.8−1133%
FY25
₹45.8+147%
FY26
₹124+171%
Result filings
as filed with NSE · PDF and XBRL| Period | Basis | Filed | Documents |
|---|---|---|---|
| Q1 FY27 | Standalone | 24 Jul 2026 | PDF XBRL |
| Q4 FY26 | Standalone · audited | 7 May 2026 | PDF on NSE XBRL |
| Q3 FY26 | Standalone | 22 Jan 2026 | PDF on NSE XBRL |
| Q2 FY26 | Standalone | 10 Nov 2025 | PDF XBRL |
| Q1 FY26 | Standalone | 24 Jul 2025 | PDF XBRL |
| Q4 FY25 | Standalone · audited | 2 May 2025 | PDF XBRL |
| Q3 FY25 | Standalone | 4 Feb 2025 | PDF on NSE XBRL |
| Q2 FY25 | Standalone | 29 Oct 2024 | PDF on NSE XBRL |
| Q1 FY25 | Standalone | 5 Aug 2024 | PDF on NSE XBRL |
| Q4 FY24 | Standalone · audited | 14 May 2024 | PDF on NSE XBRL |
Annual reports
NSE archiveKey ratios
P/E (TTM)5Y avg 78.5×43.9×
P/B5Y avg 6.44×6.35×
ROEFY26, on average equity14.1%
Net margin3.3%
Debt / equity0.11×
Revenue CAGR (3Y)15.4%
Profit CAGR (3Y)–
EPS (TTM)₹17.32
Market cap₹6,040 Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
6.35×
vs 8-point avg 6.44× (−1%)
3.99× low6.44× avg11.31× high
History points are balance-sheet dates (2022 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹2,780 Cr+14%
Net worth₹951 Cr+17%
Total borrowings₹100 Cr−33%
Cash & bank balances₹20 Cr−50%
Investments₹18 Cr+264%
Inventories₹988 Cr+0%
Trade receivables₹0 Cr
Trade payables₹491 Cr−36%
Change vs the same date a year earlier.
Revenue mix FY26
Retail trade99.0%result ₹190 Cr
Digital marketplace1.0%result ₹−14.4 Cr
Segment revenue as reported, before inter-segment eliminations.