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Quarterly results

consolidated · as filed with NSE · Q1 FY27 back to Q2 FY19

₹ 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
Revenue from operations	142	178	178	174	158	325	152	242	255	141	99.5	66.5	132	95.9	52.5	33.4	37.1	27.8	26.2	15.8	10	21.6	16.6	12.4	4.2	19.8	33	47.6	48.9	44.7	34	9.4
Other income	19.2	22.7	15.6	25.3	21.8	24.8	22	8.5	3.1	2.7	4.2	5.3	2.7	−0	1.9	3.1	2.2	2.6	1.8	1	0.7	0.9	0.7	0.7	0.7	1	0.4	0.3	0.3	0.1	0.3	1.6
Total expenses	112	135	120	117	103	196	115	168	147	94.7	60.2	50.3	65.9	62.8	39.4	25.5	28.6	24.8	29.4	17.4	12.4	20	14.6	11.4	7.2	18.2	20.5	28	27.8	36.3	24	12.2
EBITDA	38.7	51	66.8	64.7	64.7	138	44.2	80	111	50.4	42.5	19	68.9	35.2	16.7	9.9	10.8	4.8	−0.1	−0.2	−1	3.1	3.4	2.6	−1.7	3.8	14.2	21.7	23.1	11.1	12.5	−0.9
EBITDA margin	27.3%	28.6%	37.6%	37.3%	40.9%	42.5%	29.0%	33.1%	43.7%	35.7%	42.7%	28.5%	52.0%	36.7%	31.8%	29.7%	29.1%	17.4%	-0.4%	-1.0%	-10.2%	14.3%	20.3%	21.3%	-40.8%	19.0%	42.9%	45.6%	47.3%	24.8%	36.7%	-9.3%
Finance costs	1.1	2	2.7	2	3.5	4	3	2.3	1.2	0.8	0.5	0.5	0.4	0.6	2.1	0.7	0.7	0.7	0.6	0.3	0.2	0.3	0.2	0.5	0.1	1	0.6	0.7	1	1.7	1.5	1
Depreciation	7.9	5.8	6.5	5.7	6.3	4.7	3.8	3.8	3	2.9	2.6	2.2	1.9	1.5	1.5	1.4	1.6	1.2	2.4	1.2	1.3	1.3	1.2	1.2	1.2	1.2	1.1	1.3	1	1	1	0.9
Profit before tax	45.6	65.8	73.2	83.2	76.7	154	59.5	82.4	110	51.8	43.6	21.6	69.3	33	17	11	10.7	5.3	−1.4	−0.6	−1.7	2.4	2.7	1.6	−2.4	2.5	12.9	19.9	21.4	8.5	10.3	−1.2
Tax	13.4	17.2	17.2	21.2	23.1	40.2	16.8	18.9	30.8	14.2	13.7	7.9	20.8	9.6	5.1	3.4	3.7	0.2	0.4	0.1	−0.1	0.6	0.9	0.7	−0.6	−16.5	3.1	5.7	5.8	−3.9	1.5	0.7
Net profit	31.8	47.2	55.7	61.9	53.1	114	42.7	63.4	79.5	37.6	29.8	13.6	48.4	23.4	11.9	7.6	7	5.1	−1.8	−0.7	−1.6	1.8	1.8	0.9	−1.7	19.1	9.8	14.2	15.6	12.7	8.6	−1.9
Net margin	22.5%	26.5%	31.3%	35.7%	33.5%	35.0%	28.0%	26.2%	31.2%	26.6%	30.0%	20.5%	36.6%	24.4%	22.7%	22.8%	19.0%	18.5%	-6.9%	-4.7%	-15.8%	8.5%	10.6%	7.5%	-41.7%	96.6%	29.6%	29.8%	31.8%	28.3%	25.2%	-20.2%
EPS (₹)	3.83	3.51	6.09	6.61	5.31	11.24	4.42	7.26	9.19	4.19	3.67	1.83	5.81	2.55	1.19	0.71	0.94	0.42	-0.16	0.00	-0.14	0.17	0.29	0.10	-0.17	2.39	1.33	1.86	2.04	1.64	1.11	-0.25
Net profit YoY	−40.0%	−58.5%	+30.6%	−2.4%	−33.2%	+202.6%	+43.0%	+365.3%	+64.1%	+60.8%	+150.1%	+78.7%	+589.2%	+354.1%	+763.4%	+1133.8%	+546.4%	+180.7%	−202.7%	−179.8%	+9.3%	−90.4%	−82.1%	−93.5%	−111.2%	+51.0%	+13.9%	+848.8%	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19
Revenue from operations	688	974	440	219	69.8	54.6	149	92.2
Other income	85.4	58.4	14.9	7.2	5.4	3	1.9	3.1
Total expenses	475	626	271	156	71.5	53.3	94.5	84.2
EBITDA	247	374	181	72.6	4.6	7.4	62.7	16.7
EBITDA margin	36.0%	38.4%	41.1%	33.2%	6.5%	13.5%	42.0%	18.1%
Finance costs	10.3	10.4	2.3	4.1	1.5	1.1	3.3	4.8
Depreciation	24.4	15.4	9.7	6.1	4.8	5	4.6	3.8
Profit before tax	299	406	186	71.7	3.3	4.4	56.7	11.2
Tax	78.7	107	56.6	21.8	0.7	1.6	−1.9	−2.1
Net profit	218	299	130	50	2.6	2.8	58.6	13.3
Net margin	31.7%	30.7%	29.4%	22.8%	3.7%	5.1%	39.3%	14.4%
EPS (₹)	21.52	32.07	15.45	5.39	0.25	0.39	7.62	1.73
Net profit YoY	−27.2%	+131.1%	+159.2%	+1814.7%	−5.9%	−95.3%	+340.3%	–

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	245	−146	13.4	116	−44.3
Investing cash flow	−161	−823	−85.2	−3.7	−43.6
Financing cash flow	−78.3	1,007	−3.3	−21.9	88
Capital expenditure	58.8	32.3	29.8	13.1	4.3
Free cash flow (CFO − capex)	186	−179	−16.4	103	−48.6

Net profit trend

annual, ₹ crore

FY21

₹2.8

FY22

₹2.6−6%

FY23

₹50+1815%

FY24

₹130+159%

FY25

₹299+131%

FY26

₹218−27%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	25 Jul 2026	PDF on NSE XBRL
Q1 FY27	Standalone	25 Jul 2026	PDF on NSE XBRL
Q4 FY26	Consolidated	1 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone	1 May 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	31 Jan 2026	PDF on NSE XBRL
Q3 FY26	Standalone	31 Jan 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	25 Oct 2025	PDF on NSE XBRL
Q2 FY26	Standalone	25 Oct 2025	PDF on NSE XBRL
Q1 FY26	Consolidated	26 Jul 2025	PDF on NSE XBRL
Q1 FY26	Standalone	26 Jul 2025	PDF on NSE XBRL

Annual reports

NSE archive

FY2610.72 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 55.9×77.2×

P/B5Y avg 10.49×8.04×

ROEFY26, on average equity12.1%

Net margin31.7%

Debt / equity0.00×

Revenue CAGR (3Y)46.5%

Profit CAGR (3Y)63.4%

EPS (TTM)₹21.79

Market cap₹15,190 Cr

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

P/B vs history

8.04×

vs 8-point avg 10.49× (−23%)

6.02× low10.49× avg19.25× high

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

Balance sheet 31 Mar 2026

Total assets₹2,160 Cr+5%

Net worth₹1,889 Cr+11%

Total borrowings₹3 Cr−94%

Cash & bank balances₹79 Cr+6%

Investments₹6 Cr+55%

Inventories₹188 Cr+58%

Trade receivables₹224 Cr−45%

Trade payables₹49 Cr+94%

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	Aug 24	Jun 24	Mar 24	Dec 23
Promoter	48.51	48.51	48.51	48.51	49.05	49.05	49.05	51.26	51.26	55.07	55.07	55.07
FII	6.46	5.99	5.55	5.95	6.03	5.95	8.29	5.72	5.86	3.08	3.84	4.65
DII	10.41	10.07	7.86	7.93	8.76	9.48	8.98	8.05	8.10	3.38	3.32	3.09
of which MF	7.55	6.72	5.05	5.21	6.77	–	–	–	–	–	–	–
Retail	28.65	29.80	32.02	31.59	29.94	29.42	27.38	28.64	28.30	31.42	31.00	30.69
Other public	5.58	5.23	5.64	5.60	5.79	5.66	5.84	5.86	6.00	6.52	6.15	5.73

2,90,771 shareholders · NSE shareholding pattern filings.