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Quarterly results

consolidated · 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	Q4 FY17
Revenue from operations	1,491	1,564	1,371	1,264	1,266	1,277	1,125	1,176	1,166	1,271	1,210	1,284	1,207	1,252	10.8	1,189	1,134	1,188	1,077	973	729	927	708	562	216	589	642	659	0
Other income	1.8	8.8	6.4	4.6	3.1	1	1.9	1	2	3	0.8	4.4	1.8	3.4	0.1	0.2	4	6.2	1	0.7	5	0.9	1.2	1.2	1.3	4.1	1.4	1.8	0
Total expenses	1,441	1,499	1,331	1,228	1,229	1,228	1,095	1,146	1,138	1,227	1,202	1,288	1,200	1,228	10.8	1,176	1,126	1,161	1,055	948	722	894	692	555	277	589	634	653	0
EBITDA	112	126	100	92.6	93.7	103	85.1	83.5	79.5	97.4	60.2	47.8	57	71.6	0.4	56.3	47.9	72	67.1	67.2	47.9	73.2	54.2	41.4	−28	35.7	42.8	41.7	0
EBITDA margin	7.5%	8.1%	7.3%	7.3%	7.4%	8.1%	7.6%	7.1%	6.8%	7.7%	5.0%	3.7%	4.7%	5.7%	3.9%	4.7%	4.2%	6.1%	6.2%	6.9%	6.6%	7.9%	7.7%	7.4%	-12.9%	6.1%	6.7%	6.3%	–
Finance costs	28.6	29.1	30.4	29.6	30.7	30.4	30.9	30.8	29.5	30.6	30.4	30.5	29.8	29.4	0.3	25.2	22.1	19.7	19.4	15.8	16.6	14.9	15.1	14.2	14.7	16.4	15.6	16.7	0
Depreciation	32.9	32	29.3	27.5	26.5	24	24.1	22.7	22.5	21.9	21.3	21.3	19.9	18.4	0.2	18	17.9	25.6	25.6	25.9	23.9	25	23	19.7	17.9	20.2	18.8	18.8	0
Profit before tax	52.1	74	46.9	40.1	39.6	49.9	32	31	29.5	47.9	9.2	0.4	9.1	27.2	0.1	13.2	12	33	23.1	26.2	12.4	34.2	17.3	8.7	−59.2	3.2	9.8	8	0
Tax	15.8	18.5	11.6	10.5	10.4	13	8	8	7.7	12	2	−0.4	2.2	5.9	0	3.5	3	8.1	5.4	6.7	3.4	8.3	5.5	1.8	−14.9	0.4	2.4	−19	0
Net profit	38.9	58.8	36.9	31.8	30.6	38.6	25.5	24.4	23.7	38.3	8.8	3.2	8.8	23.4	0.1	10.8	9.7	25.9	18.6	20.2	9.5	26.6	12.1	6.6	−45.2	2.8	8.2	25.5	0
Net margin	2.6%	3.8%	2.7%	2.5%	2.4%	3.0%	2.3%	2.1%	2.0%	3.0%	0.7%	0.2%	0.7%	1.9%	1.0%	0.9%	0.9%	2.2%	1.7%	2.1%	1.3%	2.9%	1.7%	1.2%	-20.9%	0.5%	1.3%	3.9%	–
EPS (₹)	15.68	23.78	14.76	12.68	12.23	15.77	10.25	10.00	9.66	15.76	4.14	1.78	4.10	10.09	4.86	4.96	4.22	11.12	8.05	8.55	4.06	11.05	5.03	2.84	-18.16	1.42	3.42	10.60	0.00
Net profit YoY	+27.3%	+52.6%	+44.8%	+30.0%	+28.9%	+0.7%	+191.1%	+668.6%	+170.7%	+63.9%	+8411.7%	−70.6%	−9.8%	−9.8%	−99.4%	−46.4%	+2.4%	−2.6%	+53.7%	+206.4%	+121.0%	+856.5%	+47.4%	−74.2%	–	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY17
Revenue from operations	5,465	4,744	4,977	4,651	3,966	2,413	2,672	2,610
Other income	22.8	4.7	8.2	20.8	12.4	2.4	8	8
Total expenses	5,287	4,607	4,919	4,608	3,884	2,415	2,644	2,527
EBITDA	413	352	266	218	255	143	172	199
EBITDA margin	7.6%	7.4%	5.3%	4.7%	6.4%	5.9%	6.4%	7.6%
Finance costs	120	122	123	103	71.5	58.9	66.5	44.9
Depreciation	115	93.2	84.9	72.1	101	85.6	77.9	70.5
Profit before tax	201	142	66.6	64.2	94.6	0.9	35.5	104
Tax	51.1	36.7	16	15.1	23.6	0.7	−11.8	30.5
Net profit	158	112	58.9	54.2	74.2	0.1	47.3	75.5
Net margin	2.9%	2.4%	1.2%	1.2%	1.9%	0.0%	1.8%	2.9%
EPS (₹)	63.44	45.39	25.69	24.13	31.78	0.76	20.39	62.41
Net profit YoY	+40.9%	+90.5%	+8.8%	−27.0%	+61716.7%	−99.7%	–	–

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	477	400	329	373	27.6
Investing cash flow	−292	−213	−150	−148	−120
Financing cash flow	−175	−188	−146	−211	83.8
Capital expenditure	277	209	150	151	135
Free cash flow (CFO − capex)	201	191	179	221	−108

Net profit trend

annual, ₹ crore

FY21

₹0.1

FY22

₹74.2+61717%

FY23

₹54.2−27%

FY24

₹58.9+9%

FY25

₹112+90%

FY26

₹158+41%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	27 Jul 2026	PDF XBRL
Q1 FY27	Standalone	27 Jul 2026	PDF XBRL
Q4 FY26	Consolidated · audited	15 May 2026	PDF XBRL
Q4 FY26	Standalone · audited	15 May 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	29 Jan 2026	PDF on NSE XBRL
Q3 FY26	Standalone	29 Jan 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	31 Oct 2025	PDF XBRL
Q2 FY26	Consolidated	–	PDF XBRL
Q2 FY26	Standalone	31 Oct 2025	PDF on NSE XBRL
Q1 FY26	Consolidated	5 Aug 2025	PDF XBRL

Annual reports

NSE archive

FY251.75 MB FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17 FY16

Key ratios

P/E (TTM)5Y avg 18.3×33.7×

P/B5Y avg 2.00×5.39×

ROEFY26, on average equity16.1%

Net margin2.9%

Debt / equity0.66×

Revenue CAGR (3Y)5.5%

Profit CAGR (3Y)42.9%

EPS (TTM)₹68.12

Market cap₹5,610 Cr

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

P/B vs history

5.39×

vs 8-point avg 2.00× (+169%)

1.43× low2.00× avg5.39× high

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

Balance sheet 31 Mar 2026

Total assets₹3,527 Cr+11%

Net worth₹1,041 Cr+13%

Total borrowings₹690 Cr−5%

Cash & bank balances₹4 Cr−13%

Investments₹78 Cr+69%

Inventories₹746 Cr−3%

Trade receivables₹818 Cr+2%

Trade payables₹1,338 Cr+10%

Change vs the same date a year earlier.

Revenue mix FY26

Automotive82.8%result ₹288 Cr

Industrial17.2%result ₹41.3 Cr

Segment revenue as reported, before inter-segment eliminations.

Shareholding 21 Sept 2026

%	Sept 26	Jun 26	Mar 26	Dec 25	Sept 25	Jun 25	Mar 25	Dec 24	Sept 24	Jun 24	Mar 24	Dec 23
Promoter	59.51	58.31	58.31	58.31	58.31	58.31	58.31	58.31	58.31	58.31	58.31	58.31
FII	1.90	1.98	1.15	1.18	1.08	0.57	0.38	0.34	0.42	0.81	0.29	0.19
DII	5.38	6.39	9.64	9.81	10.68	11.64	11.68	11.68	11.99	12.16	13.13	18.32
of which MF	3.10	5.70	8.90	9.04	9.52	10.08	–	–	–	–	–	–
Retail	20.99	21.77	19.53	20.23	19.75	19.61	19.33	19.10	18.69	17.96	17.68	14.17
Other public	12.22	11.55	11.37	10.47	10.18	9.87	10.30	10.57	10.59	10.76	10.59	9.01

30,013 shareholders · NSE shareholding pattern filings.