Nifty

:

24175.65

Sensex

:

77264.51

84.80 (0.35%)
330.92 (0.43%)

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Nifty
Sensex

:
:

24175.65
77264.51

84.80 (0.35%)
330.92 (0.43%)

ICRA Ltd.

Ratings

Rating :

56/99

BSE: 532835 | NSE: ICRA

Watchlist

NSE BSE

4912.80

28-Aug-2026

Open
High
Low
Previous Close

4813
4949.9
4793.1
4832.50

Volume
Traded Value (lacs)
52 Week High
52 Week Low

33309
162853975.5
6982
4692

Stock Summary

Market Cap(Crs)
Stock P:E
Face Value

4,746.43
24.31
10

Enterprise Value(Crs)
Dividend Yield
Price:Book Value

4,704.57
2.13%
3.86

Chart

Price | P:E | P:BV | EV:EBITDA | MCap:Sales | EPS

Revenue CAGR (%)

10 Years
5 Years
3 Years

7.48
11.83
10.35

EBITDA CAGR (%)

10 Years
5 Years
3 Years

8.14
12.26
7.65

PAT CAGR (%)

10 Years
5 Years
3 Years

7.59
10.08
6.31

P:E (Median)

8 Years
5 Years
3 Years

33.95
35.32
35.39

P:BV (Average)

8 Years
5 Years
3 Years

4.86
5.23
5.58

EV:EBITDA (Average)

8 Years
5 Years
3 Years

20.48
22.57
22.70

Earnings Forecasts:

(Updated: 29-08-2026)

Description 2026 2027 2028 2029
Adj EPS 47 -14 14.36 194.3
P/E Ratio 104.53 -350.91 342.12 25.28
Revenue 24.11 20.94 18.23 604.45
EBITDA 723.67 811.8 906.07 211.8
Net Income 259.3 293.67 329.73 187.35
ROA 212.9 245.3 281.67 -
P/B Ratio - - - 3.98
ROE 3.81 3.57 3.22 17.15
FCFF 17.27 18.23 19.11 -60.8
FCFF Yield 117.7 228.17 346.64 -1.39
Net Debt 2.68 5.2 7.9 -
BVPS - - - 1233

Quarterly Results

Consolidated Figures in Rs. Crores /

Standalone

Description Jun 26 Jun 25 Var% Mar 26 Mar 25 Var% Dec 25 Dec 24 Var% Sep 25 Sep 24 Var%
Net Sales 81.79 72.20 13.28% 89.40 80.62 10.89% 84.57 70.83 19.40% 82.06 72.08 13.85%
Expenses 54.36 52.38 3.78% 49.71 44.48 11.76% 53.45 48.30 10.66% 53.74 50.90 5.58%
EBITDA 27.43 19.82 38.40% 39.70 36.14 9.85% 31.12 22.52 38.19% 28.32 21.18 33.71%
EBIDTM 33.54% 27.45% 44.40% 44.83% 36.79% 31.80% 34.51% 29.38%
Other Income 18.25 22.18 -17.72% 11.90 19.63 -39.38% 14.47 19.56 -26.02% 15.90 46.16 -65.55%
Interest 0.18 0.27 -33.33% 0.21 0.45 -53.33% 0.25 0.46 -45.65% 0.25 0.42 -40.48%
Depreciation 2.17 2.07 4.83% 2.37 2.18 8.72% 2.37 2.07 14.49% 2.17 1.96 10.71%
PBT 47.72 39.66 20.32% 49.02 53.14 -7.75% 40.79 39.55 3.14% 41.80 64.96 -35.65%
Tax 12.63 9.51 32.81% 12.62 11.08 13.90% 11.53 8.45 36.45% 10.89 14.63 -25.56%
PAT 35.09 30.15 16.38% 36.40 42.05 -13.44% 29.26 31.10 -5.92% 30.91 50.33 -38.59%
PATM 42.91% 41.76% 40.71% 52.16% 34.60% 43.91% 37.67% 69.82%
EPS 36.18 31.08 16.41% 37.52 43.35 -13.45% 30.16 32.06 -5.93% 31.87 51.88 -38.57%

Description Jun 26 Jun 25 Var% Mar 26 Mar 25 Var% Dec 25 Dec 24 Var% Sep 25 Sep 24 Var%
Net Sales 163.37 124.49 31.23% 174.85 136.21 28.37% 163.59 120.87 35.34% 136.58 126.12 8.29%
Expenses 108.27 84.74 27.77% 105.29 77.05 36.65% 106.40 78.71 35.18% 88.05 84.86 3.76%
EBITDA 55.09 39.75 38.59% 69.56 59.16 17.58% 57.19 42.16 35.65% 48.53 41.26 17.62%
EBIDTM 33.72% 31.93% 39.78% 43.43% 34.96% 34.88% 35.53% 32.72%
Other Income 27.63 24.36 13.42% 14.18 20.62 -31.23% 15.57 18.85 -17.40% 20.91 20.04 4.34%
Interest 0.45 1.65 -72.73% 0.94 1.24 -24.19% 0.98 1.07 -8.41% 0.87 0.34 155.88%
Depreciation 10.54 4.09 157.70% 10.00 4.48 123.21% 9.96 4.19 137.71% 4.21 4.01 4.99%
PBT 76.12 58.37 30.41% 72.80 74.06 -1.70% 54.91 55.75 -1.51% 64.37 56.95 13.03%
Tax 19.66 15.61 25.94% 20.11 18.07 11.29% 15.85 13.53 17.15% 16.35 19.85 -17.63%
PAT 56.46 42.76 32.04% 52.69 55.99 -5.89% 39.06 42.22 -7.48% 48.02 37.11 29.40%
PATM 34.56% 34.35% 30.13% 41.10% 23.88% 34.93% 35.16% 29.42%
EPS 58.19 43.97 32.34% 54.35 57.75 -5.89% 40.22 43.55 -7.65% 49.54 38.05 30.20%

Annual Results

Consolidated Figures in Rs. Crores /

Standalone

Right to Left

Description TTM Mar 26 Mar 25 Mar 24 Mar 23 Mar 22 Mar 21 Mar 20 Mar 19 Mar 18 Mar 17
Net Sales 337.82 328.24 286.73 251.24 222.54 194.73 181.27 207.78 230.14 222.13 210.90 Net Sales Growth 14.23% 14.48% 14.13% 12.90% 14.28% 7.43% -12.76% -9.72% 3.61% 5.32% Cost Of Goods Sold 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Gross Profit 337.82 328.24 286.73 251.24 222.54 194.73 181.27 207.78 230.14 222.13 210.90 GP Margin 100.00% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% Total Expenditure 211.26 209.28 190.18 183.61 162.60 139.95 138.95 149.27 141.13 124.33 129.23 Power & Fuel Cost - 0.58 0.55 0.66 0.70 0.40 0.34 0.77 0.83 0.88 1.10 % Of Sales - 0.18% 0.19% 0.26% 0.31% 0.21% 0.19% 0.37% 0.36% 0.40% 0.52% Employee Cost - 161.07 149.57 145.21 123.43 111.45 110.04 105.11 107.42 95.33 90.80 % Of Sales - 49.07% 52.16% 57.80% 55.46% 57.23% 60.71% 50.59% 46.68% 42.92% 43.05% Manufacturing Exp. - 3.65 3.90 3.81 11.31 9.28 7.85 6.94 5.68 4.96 4.22 % Of Sales - 1.11% 1.36% 1.52% 5.08% 4.77% 4.33% 3.34% 2.47% 2.23% 2.00% General & Admin Exp. - 40.78 33.23 30.99 18.12 14.92 17.82 30.91 22.15 19.39 25.36 % Of Sales - 12.42% 11.59% 12.33% 8.14% 7.66% 9.83% 14.88% 9.62% 8.73% 12.02% Selling & Distn. Exp. - 0.08 0.07 0.03 0.03 0.03 0.03 0.03 0.06 0.09 0.09 % Of Sales - 0.02% 0.02% 0.01% 0.01% 0.02% 0.02% 0.01% 0.03% 0.04% 0.04% Miscellaneous Exp. - 3.13 2.86 2.91 9.01 3.87 2.88 5.51 4.99 3.69 0.09 % Of Sales - 0.95% 1.00% 1.16% 4.05% 1.99% 1.59% 2.65% 2.17% 1.66% 3.64% EBITDA 126.57 118.96 96.55 67.63 59.94 54.78 42.32 58.51 89.01 97.80 81.67 EBITDA Margin 37.47% 36.24% 33.67% 26.92% 26.93% 28.13% 23.35% 28.16% 38.68% 44.03% 38.72% Other Income 60.52 64.45 102.05 90.96 65.57 45.42 36.32 40.57 44.53 50.74 48.83 Interest 0.89 0.97 1.72 3.77 1.34 1.51 1.73 1.66 0.03 0.03 0.04 Depreciation 9.08 8.98 7.92 7.99 7.03 5.34 5.25 5.38 2.43 2.66 3.20 PBT 179.33 173.46 188.96 146.84 117.13 93.35 71.66 92.05 131.07 145.84 127.25 Tax 47.67 44.55 40.76 23.68 21.20 20.04 18.72 27.07 35.09 45.52 36.09 Tax Rate 26.58% 26.01% 21.57% 16.13% 18.10% 21.47% 26.12% 29.41% 26.77% 31.21% 26.92% PAT 131.66 126.71 148.19 123.16 95.93 73.31 52.95 64.98 95.97 100.32 97.97 PAT before Minority Interest 131.66 126.71 148.19 123.16 95.93 73.31 52.95 64.98 95.97 100.32 97.97 Minority Interest 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 PAT Margin 38.97% 38.60% 51.68% 49.02% 43.11% 37.65% 29.21% 31.27% 41.70% 45.16% 46.45% PAT Growth -14.30% -14.49% 20.32% 28.39% 30.86% 38.45% -18.51% -32.29% -4.34% 2.40% EPS 135.73 130.63 152.77 126.97 98.90 75.58 54.59 66.99 98.94 103.42 101.00

Description TTM Mar 26 Mar 25 Mar 24 Mar 23 Mar 22 Mar 21 Mar 20 Mar 19 Mar 18 Mar 17
Net Sales 638.39 599.51 498.02 446.11 403.23 342.81 301.06 321.09 328.06 308.87 291.54 Net Sales Growth 25.74% 20.38% 11.64% 10.63% 17.62% 13.87% -6.24% -2.12% 6.21% 5.94% Cost Of Goods Sold 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Gross Profit 638.39 599.51 498.02 446.11 403.23 342.81 301.06 321.09 328.06 308.87 291.54 GP Margin 100.00% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% Total Expenditure 408.01 384.48 320.26 297.35 260.32 222.22 219.93 225.25 215.12 193.79 193.20 Power & Fuel Cost - 1.60 1.47 1.53 1.40 0.90 0.89 1.97 2.12 2.18 2.55 % Of Sales - 0.27% 0.30% 0.34% 0.35% 0.26% 0.30% 0.61% 0.65% 0.71% 0.87% Employee Cost - 310.12 261.13 240.36 207.56 179.25 171.70 161.67 160.80 142.53 156.41 % Of Sales - 51.73% 52.43% 53.88% 51.47% 52.29% 57.03% 50.35% 49.02% 46.15% 53.65% Manufacturing Exp. - 6.26 5.26 6.61 15.10 13.95 13.18 16.06 10.91 10.86 -17.05 % Of Sales - 1.04% 1.06% 1.48% 3.74% 4.07% 4.38% 5.00% 3.33% 3.52% -5.85% General & Admin Exp. - 61.41 47.05 43.88 27.22 22.38 24.51 39.23 32.48 29.55 38.13 % Of Sales - 10.24% 9.45% 9.84% 6.75% 6.53% 8.14% 12.22% 9.90% 9.57% 13.08% Selling & Distn. Exp. - 0.39 0.18 0.26 0.30 0.23 0.19 0.10 0.08 0.10 0.15 % Of Sales - 0.07% 0.04% 0.06% 0.07% 0.07% 0.06% 0.03% 0.02% 0.03% 0.05% Miscellaneous Exp. - 4.71 5.18 4.71 8.75 5.52 9.46 6.22 8.73 8.57 0.15 % Of Sales - 0.79% 1.04% 1.06% 2.17% 1.61% 3.14% 1.94% 2.66% 2.77% 4.46% EBITDA 230.37 215.03 177.76 148.76 142.91 120.59 81.13 95.84 112.94 115.08 98.34 EBITDA Margin 36.09% 35.87% 35.69% 33.35% 35.44% 35.18% 26.95% 29.85% 34.43% 37.26% 33.73% Other Income 78.29 75.02 77.41 74.97 49.55 40.88 42.85 47.97 44.80 49.36 39.59 Interest 3.24 4.43 4.80 10.41 1.41 1.56 2.06 2.04 0.07 0.10 0.04 Depreciation 34.71 28.26 16.39 13.46 9.83 7.81 9.92 10.29 5.62 7.53 8.54 PBT 268.20 257.36 233.97 199.86 181.22 152.09 112.01 131.48 152.04 156.80 129.35 Tax 71.97 67.91 62.77 47.62 44.49 38.55 29.32 34.24 46.09 55.62 41.79 Tax Rate 26.83% 27.12% 26.83% 23.83% 24.55% 25.35% 26.18% 26.04% 30.31% 35.47% 32.31% PAT 196.23 181.51 170.01 151.09 135.24 112.29 81.66 96.18 105.41 100.69 87.35 PAT before Minority Interest 195.23 182.53 171.20 152.24 136.73 113.53 82.68 97.24 105.95 101.18 87.56 Minority Interest -1.00 -1.02 -1.19 -1.15 -1.49 -1.24 -1.02 -1.06 -0.54 -0.49 -0.21 PAT Margin 30.74% 30.28% 34.14% 33.87% 33.54% 32.76% 27.12% 29.95% 32.13% 32.60% 29.96% PAT Growth 10.19% 6.76% 12.52% 11.72% 20.44% 37.51% -15.10% -8.76% 4.69% 15.27% EPS 202.30 187.12 175.27 155.76 139.42 115.76 84.19 99.15 108.67 103.80 90.05

Results Balance Sheet

Consolidated Figures in Rs. Crores /

Standalone

Right to Left

Description Mar 26 Mar 25 Mar 24 Mar 23 Mar 22 Mar 21 Mar 20 Mar 19 Mar 18 Mar 17
Shareholder's Funds 885.11 804.37 741.43 736.59 664.78 614.58 582.53 548.25 570.86 501.84 Share Capital 9.65 9.65 9.65 9.65 9.65 9.65 9.65 9.65 9.90 9.90 Total Reserves 868.80 790.17 730.28 726.93 655.13 604.93 572.88 538.59 559.98 489.83 Non-Current Liabilities 368.68 371.11 350.33 329.88 294.45 340.96 316.44 266.32 257.72 222.57 Secured Loans 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Unsecured Loans 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Long Term Provisions 357.25 356.80 344.54 320.91 286.31 330.77 304.73 268.83 259.35 224.65 Current Liabilities 227.86 180.54 138.57 121.75 153.08 104.71 109.57 129.16 135.60 124.75 Trade Payables 7.06 4.92 5.07 5.57 6.37 3.34 9.39 4.77 3.39 5.35 Other Current Liabilities 126.23 125.97 102.49 68.93 56.64 62.29 58.01 69.05 65.38 64.45 Short Term Borrowings 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Short Term Provisions 94.57 49.65 31.01 47.25 90.08 39.09 42.17 55.34 66.83 54.95 Total Liabilities 1,481.65 1,356.02 1,230.33 1,188.22 1,112.31 1,060.25 1,008.54 943.73 964.18 849.16 Net Block 25.19 26.31 23.14 26.83 25.53 24.88 28.82 10.68 12.14 12.99 Gross Block 62.31 62.87 52.87 51.75 47.31 41.47 41.04 17.84 17.36 16.11 Accumulated Depreciation 37.12 36.56 29.73 24.92 21.78 16.59 12.22 7.16 5.23 3.12 Non Current Assets 850.73 477.98 824.74 814.61 747.53 669.24 404.17 449.18 584.22 421.73 Capital Work in Progress 0.58 1.33 0.91 1.23 0.55 2.33 1.88 1.27 0.00 0.00 Non Current Investment 286.28 37.12 425.55 444.51 418.58 184.68 51.19 130.94 266.37 160.22 Long Term Loans & Adv. 388.18 387.55 370.69 341.58 301.46 341.96 314.42 278.37 269.95 238.15 Other Non Current Assets 150.49 25.67 4.45 0.46 1.41 115.41 7.86 27.92 35.76 10.37 Current Assets 630.91 878.04 405.61 373.61 364.79 391.01 604.37 494.54 379.96 427.44 Current Investments 453.04 618.79 256.72 213.28 62.15 19.00 79.70 77.48 98.72 176.99 Inventories 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Sundry Debtors 28.22 26.45 23.09 12.77 10.21 15.99 33.39 19.43 21.73 18.56 Cash & Bank 12.33 173.55 95.37 118.52 207.22 323.41 435.24 338.94 194.54 183.13 Other Current Assets 137.32 6.58 8.00 6.81 85.21 32.61 56.03 58.69 64.96 48.77 Short Term Loans & Adv. 130.67 52.67 22.42 22.22 66.26 18.57 28.27 35.05 51.50 35.94 Net Current Assets 403.06 697.50 267.03 251.85 211.71 286.30 494.80 365.38 244.36 302.68 Total Assets 1,481.64 1,356.02 1,230.35 1,188.22 1,112.32 1,060.25 1,008.54 943.72 964.18 849.17

Description Mar 26 Mar 25 Mar 24 Mar 23 Mar 22 Mar 21 Mar 20 Mar 19 Mar 18 Mar 17
Shareholder's Funds 1,180.74 1,053.23 976.49 950.28 843.61 757.73 701.61 640.87 655.02 548.99 Share Capital 9.65 9.65 9.65 9.65 9.65 9.65 9.65 9.65 9.90 9.90 Total Reserves 1,164.43 1,039.03 965.33 940.63 833.96 748.08 691.96 631.22 644.14 536.97 Non-Current Liabilities 51.31 56.46 51.18 11.86 10.63 13.11 19.89 4.13 4.13 1.40 Secured Loans 0.38 0.63 1.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Unsecured Loans 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Long Term Provisions 10.58 3.44 3.14 2.73 3.11 3.40 7.08 5.90 5.37 5.03 Current Liabilities 244.34 177.69 151.86 131.74 115.49 116.11 115.02 118.60 106.79 104.81 Trade Payables 13.81 9.11 7.41 8.38 9.24 7.80 15.52 10.46 7.71 8.39 Other Current Liabilities 221.29 164.03 133.03 80.91 68.99 78.14 72.80 79.24 72.80 69.98 Short Term Borrowings 0.00 0.26 0.49 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Short Term Provisions 9.24 4.28 10.93 42.45 37.26 30.17 26.69 28.90 26.29 26.44 Total Liabilities 1,480.79 1,291.80 1,184.02 1,098.53 973.84 890.24 839.11 765.33 767.27 656.15 Net Block 312.81 89.63 91.32 47.10 45.60 46.45 54.50 33.84 36.48 36.55 Gross Block 395.50 154.92 144.35 91.58 85.38 79.62 82.37 52.20 50.02 43.12 Accumulated Depreciation 82.69 65.29 53.03 44.48 39.78 33.17 27.88 18.36 13.54 6.57 Non Current Assets 552.10 161.68 527.56 533.09 537.90 395.25 118.95 201.63 365.55 212.26 Capital Work in Progress 2.23 3.51 0.91 1.34 1.55 3.41 2.04 1.40 0.20 0.81 Non Current Investment 2.51 1.25 390.20 425.15 391.66 157.76 24.27 104.02 239.45 133.30 Long Term Loans & Adv. 44.71 35.67 33.24 26.07 20.14 15.51 16.25 16.58 18.15 20.52 Other Non Current Assets 189.84 31.61 11.90 33.42 78.95 172.12 21.89 45.80 71.27 21.08 Current Assets 928.68 1,130.12 656.46 565.45 435.95 494.99 720.16 563.70 401.73 443.90 Current Investments 727.00 771.50 423.24 263.36 62.15 19.00 79.70 77.48 99.03 177.30 Inventories 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Sundry Debtors 78.41 47.59 51.09 38.05 26.50 47.51 57.19 33.81 40.60 33.95 Cash & Bank 42.49 281.53 155.54 241.50 310.13 399.45 526.79 407.49 230.59 202.59 Other Current Assets 80.79 13.74 15.62 17.55 37.16 29.04 56.47 44.94 31.51 30.05 Short Term Loans & Adv. 63.98 15.76 10.97 4.99 2.81 7.54 13.68 9.30 14.49 10.16 Net Current Assets 684.35 952.43 504.59 433.70 320.45 378.88 605.14 445.10 294.93 339.08 Total Assets 1,480.78 1,291.80 1,184.02 1,098.54 973.85 890.24 839.11 765.33 767.28 656.16

Cash Flow

Consolidated Figures in Rs. Crores /

Standalone

Right to Left

Description Mar 26 Mar 25 Mar 24 Mar 23 Mar 22 Mar 21 Mar 20 Mar 19 Mar 18 Mar 17
Cash From Operating Activity 102.18 93.73 56.52 52.54 38.64 52.78 2.97 60.41 52.25 45.38 PBT 171.26 188.96 146.84 117.13 93.35 71.66 92.05 131.07 145.84 134.07 Adjustment -28.69 -66.83 -66.53 -47.53 -36.97 -26.18 -27.57 -40.64 -47.09 -47.39 Changes in Working Capital -0.33 6.19 5.02 7.30 5.24 26.38 -33.94 4.34 -2.66 -6.42 Cash after chg. in Working capital 142.24 128.32 85.33 76.90 61.63 71.87 30.55 94.76 96.09 80.26 Interest Paid 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Tax Paid -40.06 -34.58 -28.80 -24.36 -22.99 -19.09 -27.58 -34.35 -43.84 -34.88 Other Direct Exp. Paid 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Extra & Other Items 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Cash From Investing Activity -32.52 10.14 70.71 -23.51 -14.12 -11.79 24.28 56.03 -6.70 23.68 Net Fixed Assets 1.31 -10.42 -0.80 -5.12 -4.06 -0.88 -23.81 -1.75 -1.25 23.61 Net Investments -83.41 26.36 -24.48 -177.06 -277.05 -72.79 77.53 156.67 -27.88 -66.18 Others 49.58 -5.80 95.99 158.67 266.99 61.88 -29.44 -98.89 22.43 66.25 Cash from Financing Activity -62.94 -101.28 -129.89 -31.10 -30.13 -29.95 -38.43 -120.11 -31.09 -68.13 Net Cash Inflow / Outflow 6.71 2.59 -2.66 -2.07 -5.61 11.04 -11.18 -3.68 14.45 0.93 Opening Cash & Equivalents 4.78 2.18 4.84 6.91 12.52 1.48 12.66 16.34 1.89 0.96 Closing Cash & Equivalent 11.49 4.78 2.18 4.84 6.91 12.52 1.48 12.66 16.34 1.89

Description Mar 26 Mar 25 Mar 24 Mar 23 Mar 22 Mar 21 Mar 20 Mar 19 Mar 18 Mar 17
Cash From Operating Activity 157.26 144.89 107.01 99.26 96.66 76.38 21.32 80.85 61.90 63.40 PBT 250.45 233.97 199.86 181.22 152.09 112.01 131.48 152.04 156.80 132.28 Adjustment -36.87 -51.54 -51.31 -32.28 -30.71 -26.47 -33.51 -36.30 -36.08 -20.99 Changes in Working Capital 7.22 17.64 9.30 -2.08 16.74 20.91 -41.21 6.88 -7.81 -5.19 Cash after chg. in Working capital 220.80 200.07 157.85 146.85 138.11 106.45 56.76 122.62 112.92 106.11 Interest Paid 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Tax Paid -63.55 -55.18 -50.84 -47.60 -41.45 -30.06 -35.44 -41.77 -51.02 -42.71 Other Direct Exp. Paid 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Extra & Other Items 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Cash From Investing Activity -110.19 -16.89 27.49 -76.84 -71.86 -32.11 11.15 44.71 -53.77 10.21 Net Fixed Assets 1.31 -10.42 -0.80 -5.12 -4.06 -0.88 -23.81 -1.75 -1.25 23.61 Net Investments -83.41 26.36 -24.48 -177.06 -277.05 -72.79 77.53 156.67 -27.88 -66.18 Others -28.09 -32.83 52.77 105.34 209.25 41.56 -42.57 -110.21 -24.64 52.78 Cash from Financing Activity -66.91 -103.13 -136.71 -32.13 -31.32 -32.03 -40.68 -120.94 4.14 -68.89 Net Cash Inflow / Outflow -19.85 24.88 -2.21 -9.71 -6.52 12.24 -8.21 4.62 12.27 4.72 Opening Cash & Equivalents 34.86 9.98 12.16 21.92 28.45 16.21 24.42 19.80 7.53 24.54 Closing Cash & Equivalent 29.72 34.86 9.98 12.16 21.92 28.45 16.21 24.42 19.80 7.53

Financial Ratios

Consolidated /

Standalone

Right to Left

Description Mar 26 Mar 25 Mar 24 Mar 23 Mar 22 Mar 21 Mar 20 Mar 19 Mar 18 Mar 17
Book Value (Rs.) 910.20 828.72 766.67 763.21 688.81 636.79 603.58 568.06 575.44 504.61 ROA 8.93% 11.46% 10.18% 8.34% 6.75% 5.12% 6.66% 10.06% 11.06% 12.24% ROE 15.10% 19.25% 16.68% 13.69% 11.46% 8.85% 11.49% 17.17% 18.76% 21.69% ROCE 20.39% 24.67% 20.38% 16.91% 14.83% 12.26% 16.58% 23.43% 27.20% 29.47% Fixed Asset Turnover 5.24 4.95 4.80 4.49 4.39 4.39 7.06 13.07 13.27 7.56 Receivable days 30.40 31.54 26.05 18.85 24.55 49.72 46.39 32.64 33.10 30.32 Inventory Days 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Payable days 0.00 0.00 0.00 0.00 0.00 0.00 21.65 12.71 15.25 16.06 Cash Conversion Cycle 30.40 31.54 26.05 18.85 24.55 49.72 24.74 19.93 17.85 14.27 Total Debt/Equity 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Interest Cover 177.78 110.86 39.98 88.27 62.92 42.41 56.38 3948.79 4216.07 3447.41

Description Mar 26 Mar 25 Mar 24 Mar 23 Mar 22 Mar 21 Mar 20 Mar 19 Mar 18 Mar 17
Book Value (Rs.) 1216.51 1086.58 1010.22 984.62 874.10 785.11 726.97 664.04 660.43 552.21 ROA 13.17% 13.83% 13.34% 13.20% 12.18% 9.56% 12.12% 13.83% 14.22% 13.90% ROE 16.42% 16.92% 15.82% 15.24% 14.18% 11.33% 14.49% 16.36% 16.85% 17.44% ROCE 22.80% 23.49% 21.81% 20.36% 19.19% 15.63% 19.89% 23.48% 26.06% 25.81% Fixed Asset Turnover 2.18 3.33 3.78 4.56 4.16 3.72 4.77 6.42 6.63 3.56 Receivable days 38.36 36.16 36.47 29.21 39.40 63.47 51.72 41.39 44.05 44.81 Inventory Days 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Payable days 0.00 0.00 0.00 0.00 0.00 0.00 24.77 18.36 17.89 16.81 Cash Conversion Cycle 38.36 36.16 36.47 29.21 39.40 63.47 26.95 23.03 26.16 28.01 Total Debt/Equity 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Interest Cover 57.58 49.71 20.20 129.30 98.40 55.45 65.30 2033.59 1514.56 3401.48

Top Investors:

nippon life india trustee ltd-a/c nippon india small cap fund

parag parikh flexi cap fund

canara robeco mutual fund a/c canara robeco small cap fund

sbi infrastructure fund

pari washington india master fund, ltd.

tencore partners master ltd.

aditya birla sun life trustee private limited a/c aditya birla sun life mnc fund

general insurance corporation of india

robeco capital growth funds

pari washington investment fund

Annual Reports:

News Update:

ICRA - Quarterly Results
31st Jul 2026, 00:00 AM

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