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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	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 FY17
Revenue from operations	544	617	630	483	424	625	484	398	428	504	408	381	322	440	357	318	270	387	315	263	162	284	176	160	72.3	225	251	195	187	259	215	189	166	220
Other income	41.6	−10.1	26.1	14.8	35.7	17	6.9	32	28.8	23.2	24.8	17.9	23	10.8	13.7	15.9	−0.4	7.8	7.7	14.2	13.3	10.7	26.4	15.6	22.4	−14.6	12.6	9.9	6.7	13.8	9.6	6.1	6.7	3.7
Total expenses	467	540	527	393	355	512	388	326	356	408	307	316	277	350	305	274	236	323	283	234	157	253	162	141	71.6	192	223	176	169	227	193	172	151	192
EBITDA	80.3	81.4	108	93.6	72.6	116	99	75	75.8	101	105	68.8	48	92.8	55.4	46.4	36.3	66.7	34.4	31.3	6.5	33	16.5	21.9	2.9	35.8	30.4	21	20.6	34.4	24.1	19.1	16.5	29
EBITDA margin	14.8%	13.2%	17.1%	19.4%	17.1%	18.6%	20.5%	18.9%	17.7%	20.0%	25.7%	18.0%	14.9%	21.1%	15.5%	14.6%	13.4%	17.2%	10.9%	11.9%	4.0%	11.6%	9.4%	13.7%	4.0%	15.9%	12.1%	10.8%	11.0%	13.3%	11.2%	10.1%	9.9%	13.2%
Finance costs	0.5	0.3	0.2	0.6	0.3	0.4	0.3	0.3	0.3	1.3	0.3	0.3	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0	0	0	0	0	0	0	0	0	0	0.1	0.1	0.1	0.3
Depreciation	3.6	3.9	3.8	3.5	3.4	3.6	3.4	3.2	3	3.3	3	2.7	2.3	2.6	2.5	2.4	2.2	2.2	2	1.9	1.8	2.2	2.3	2.2	2.2	2.6	2.4	2.1	1.9	2.1	2	1.6	1.5	1.6
Profit before tax	118	67.1	130	104	105	129	102	104	101	119	126	83.6	68.5	101	66.4	59.7	33.4	72.1	39.8	43.3	18	41.5	40.6	35.3	23.1	18.6	40.5	28.7	25.4	46.1	31.6	23.4	21.6	30.9
Tax	26.7	19.2	30.8	25.3	25.1	32.5	28.8	27.8	21.8	25.9	31.8	15.2	17.7	24.3	15.7	13.7	6.7	20.2	9.7	8.3	2.2	10.4	8.5	5.5	3.8	7.1	5.5	2.8	8.5	13.9	9.4	8	6.6	10.8
Net profit	91.2	47.9	99.1	78.9	79.5	96.8	73.4	75.7	79.4	93.5	94.6	68.4	50.8	76.6	50.8	45.9	26.7	51.9	30.1	35.1	15.8	31.1	32.1	29.8	19.3	11.5	35	25.9	16.9	32.2	22.2	15.4	15	20.1
Net margin	16.8%	7.8%	15.7%	16.3%	18.8%	15.5%	15.2%	19.0%	18.6%	18.6%	23.2%	17.9%	15.8%	17.4%	14.2%	14.5%	9.9%	13.4%	9.6%	13.3%	9.8%	10.9%	18.2%	18.6%	26.7%	5.1%	13.9%	13.3%	9.0%	12.4%	10.3%	8.1%	9.1%	9.2%
EPS (₹)	90.17	47.35	97.94	77.94	78.63	95.70	72.55	74.87	78.52	92.45	93.52	67.65	50.19	75.68	50.17	45.40	26.37	51.26	29.77	34.67	15.60	30.70	31.68	29.46	19.07	11.40	34.63	25.61	0.00	31.80	22.00	15.22	14.87	19.87
Net profit YoY	+14.7%	−50.5%	+35.0%	+4.1%	+0.1%	+3.5%	−22.4%	+10.7%	+56.5%	+22.2%	+86.4%	+49.0%	+90.3%	+47.6%	+68.6%	+31.0%	+69.0%	+67.0%	−6.1%	+17.7%	−18.2%	+169.2%	−8.5%	+15.0%	+14.2%	−64.1%	+57.6%	+68.2%	+12.3%	–	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY17
Revenue from operations	2,154	1,934	1,616	1,385	1,127	692	859	829	256
Other income	66.5	84.7	89	40.1	43	72.3	14.6	36.2	7.7
Total expenses	1,814	1,583	1,307	1,165	997	624	760	742	226
EBITDA	355	366	322	231	139	77	108	93.6	31.5
EBITDA margin	16.5%	18.9%	19.9%	16.7%	12.3%	11.1%	12.6%	11.3%	12.3%
Finance costs	1.4	1.4	2.1	0.9	0.8	0	0	0	0.2
Depreciation	14.6	13.2	11.4	9.7	7.9	8.9	9	7.2	1.6
Profit before tax	406	436	398	260	173	140	113	123	37.4
Tax	100	111	90.5	60.4	40.4	28.2	24	37.8	12.3
Net profit	305	325	307	200	133	112	89.4	84.8	25.1
Net margin	14.2%	16.8%	19.0%	14.4%	11.8%	16.2%	10.4%	10.2%	9.8%
EPS (₹)	301.85	321.65	303.80	197.63	131.30	110.92	88.34	83.86	24.80
Net profit YoY	−6.2%	+5.9%	+53.7%	+50.5%	+18.4%	+25.6%	+5.3%	–	–

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	140	219	216	168	65.6
Investing cash flow	−1	−116	−141	−127	−46.3
Financing cash flow	−104	−93.8	−63.3	−36.3	−26.1
Capital expenditure	125	60.3	19.3	8.2	18.6
Free cash flow (CFO − capex)	14.7	159	197	160	46.9

Net profit trend

annual, ₹ crore

FY21

₹112

FY22

₹133+18%

FY23

₹200+51%

FY24

₹307+54%

FY25

₹325+6%

FY26

₹305−6%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Standalone	31 Jul 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	5 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	–	PDF on NSE XBRL
Q3 FY26	Standalone	–	PDF on NSE XBRL
Q3 FY26	Standalone	5 Feb 2026	PDF on NSE XBRL
Q2 FY26	Standalone	8 Nov 2025	PDF XBRL
Q1 FY26	Standalone	–	PDF XBRL
Q1 FY26	Standalone	29 Jul 2025	PDF on NSE XBRL
Q4 FY25	Standalone · audited	3 May 2025	PDF on NSE XBRL
Q3 FY25	Standalone	30 Jan 2025	PDF on NSE XBRL

Annual reports

NSE archive

FY2615.04 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 24.1×34.2×

P/B5Y avg 4.95×6.05×

ROEFY26, on average equity18.1%

Net margin14.2%

Debt / equity0.00×

Revenue CAGR (3Y)15.9%

Profit CAGR (3Y)15.2%

EPS (TTM)₹313.39

Market cap₹10,834 Cr

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

P/B vs history

6.05×

vs 8-point avg 4.95× (+22%)

2.46× low4.95× avg9.41× high

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

Balance sheet 31 Mar 2026

Total assets₹2,018 Cr+14%

Net worth₹1,792 Cr+13%

Total borrowings₹0 Cr

Cash & bank balances₹73 Cr+89%

Investments₹995 Cr−6%

Inventories₹390 Cr+64%

Trade receivables₹272 Cr−7%

Trade payables₹9 Cr+104%

Change vs the same date a year earlier.

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	30.00	30.00	30.00	30.00	37.80	38.00	38.00	38.00	38.00	38.00	38.00	38.00
FII	21.53	22.81	21.78	22.85	23.23	23.91	26.70	28.50	27.28	24.84	23.23	22.34
DII	33.85	31.66	31.39	29.69	23.41	23.54	23.70	22.61	24.30	26.90	28.70	28.46
of which MF	28.98	25.05	24.65	23.20	20.68	–	–	–	–	–	–	–
Retail	11.22	12.10	13.25	14.66	13.15	12.50	9.82	9.17	8.85	8.54	8.45	9.22
Other public	3.40	3.43	3.58	2.80	2.41	2.05	1.78	1.72	1.57	1.72	1.62	1.98

52,732 shareholders · NSE shareholding pattern filings.