Nifty

:

25571.25

Sensex

:

82814.71

116.90 (0.46%)
316.57 (0.38%)

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Nifty
Sensex

:
:

25571.25
82814.71

116.90 (0.46%)
316.57 (0.38%)

ICRA Ltd.

Ratings

Rating :

69/99

BSE: 532835 | NSE: ICRA

Watchlist

NSE BSE

5722.50

20-Feb-2026

Open
High
Low
Previous Close

5730
5752
5697.5
5774.50

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

2451
14026376.5
7130
5015.1

Stock Summary

Market Cap(Crs)
Stock P:E
Face Value

5,507.14
29.80
10

Enterprise Value(Crs)
Dividend Yield
Price:Book Value

5,321.81
1.05%
4.89

Chart

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

Revenue CAGR (%)

10 Years
5 Years
3 Years

6.46
10.59
7.29

EBITDA CAGR (%)

10 Years
5 Years
3 Years

6.60
16.99
4.46

PAT CAGR (%)

10 Years
5 Years
3 Years

8.79
15.80
7.93

P:E (Median)

8 Years
5 Years
3 Years

34.37
35.72
35.91

P:BV (Average)

8 Years
5 Years
3 Years

4.94
5.22
5.72

EV:EBITDA (Average)

8 Years
5 Years
3 Years

20.73
22.97
23.86

Earnings Forecasts:

(Updated: 14-02-2026)

Description 2024 2025 2026 2027
Adj EPS 176.73 189.5 218.45 264.9
P/E Ratio 32.38 30.20 26.20 21.60
Revenue 497 603.7 731.45 816.55
EBITDA 177.76 213.2 263.9 298.55
Net Income 170.01 180.1 210.65 255.9
ROA 13.7
P/B Ratio 5.23 4.65 8.29 7.31
ROE 16.75 16.05 26.05 19.1
FCFF 145.47 -88.15 218 240.65
FCFF Yield 3.06 -1.85 4.59 5.06
Net Debt -1039.89
BVPS 1094.77 1231.75 690.3 782.65

Quarterly Results

Consolidated Figures in Rs. Crores /

Standalone

Description Dec 25 Dec 24 Var% Sep 25 Sep 24 Var% Jun 25 Jun 24 Var% Mar 25 Mar 24 Var%
Net Sales 84.57 70.83 19.40% 82.06 72.08 13.85% 72.20 63.20 14.24% 80.62 70.49 14.37%
Expenses 53.45 48.30 10.66% 53.74 50.90 5.58% 52.38 46.50 12.65% 44.48 44.41 0.16%
EBITDA 31.12 22.52 38.19% 28.32 21.18 33.71% 19.82 16.70 18.68% 36.14 26.08 38.57%
EBIDTM 36.79% 31.80% 34.51% 29.38% 27.45% 26.43% 44.83% 37.00%
Other Income 14.47 19.56 -26.02% 15.90 46.16 -65.55% 22.18 16.71 32.73% 19.63 17.64 11.28%
Interest 0.25 0.46 -45.65% 0.25 0.42 -40.48% 0.27 0.39 -30.77% 0.45 0.44 2.27%
Depreciation 2.37 2.07 14.49% 2.17 1.96 10.71% 2.07 1.71 21.05% 2.18 2.19 -0.46%
PBT 40.79 39.55 3.14% 41.80 64.96 -35.65% 39.66 31.31 26.67% 53.14 41.09 29.33%
Tax 11.53 8.45 36.45% 10.89 14.63 -25.56% 9.51 6.60 44.09% 11.08 7.52 47.34%
PAT 29.26 31.10 -5.92% 30.91 50.33 -38.59% 30.15 24.72 21.97% 42.05 33.56 25.30%
PATM 34.60% 43.91% 37.67% 69.82% 41.76% 39.11% 52.16% 47.62%
EPS 30.16 32.06 -5.93% 31.87 51.88 -38.57% 31.08 25.48 21.98% 43.35 34.60 25.29%

Description Dec 25 Dec 24 Var% Sep 25 Sep 24 Var% Jun 25 Jun 24 Var% Mar 25 Mar 24 Var%
Net Sales 163.59 120.87 35.34% 136.58 126.12 8.29% 124.49 114.82 8.42% 136.21 123.97 9.87%
Expenses 106.40 78.71 35.18% 88.05 84.86 3.76% 84.74 79.64 6.40% 77.05 74.12 3.95%
EBITDA 57.19 42.16 35.65% 48.53 41.26 17.62% 39.75 35.18 12.99% 59.16 49.85 18.68%
EBIDTM 34.96% 34.88% 35.53% 32.72% 31.93% 30.64% 43.43% 40.21%
Other Income 15.57 18.85 -17.40% 20.91 20.04 4.34% 24.36 17.89 36.17% 20.62 23.68 -12.92%
Interest 0.98 1.07 -8.41% 0.87 0.34 155.88% 1.65 2.15 -23.26% 1.24 6.93 -82.11%
Depreciation 9.96 4.19 137.71% 4.21 4.01 4.99% 4.09 3.71 10.24% 4.48 4.47 0.22%
PBT 54.91 55.75 -1.51% 64.37 56.95 13.03% 58.37 47.21 23.64% 74.06 62.13 19.20%
Tax 15.85 13.53 17.15% 16.35 19.85 -17.63% 15.61 11.32 37.90% 18.07 15.07 19.91%
PAT 39.06 42.22 -7.48% 48.02 37.11 29.40% 42.76 35.89 19.14% 55.99 47.06 18.98%
PATM 23.88% 34.93% 35.16% 29.42% 34.35% 31.26% 41.10% 37.96%
EPS 40.22 43.55 -7.65% 49.54 38.05 30.20% 43.97 36.80 19.48% 57.75 48.56 18.93%

Annual Results

Consolidated Figures in Rs. Crores /

Standalone

Right to Left

Description TTM Mar 25 Mar 24 Mar 23 Mar 22 Mar 21 Mar 20 Mar 19 Mar 18 Mar 17 Mar 16
Net Sales 319.45 286.73 251.24 222.54 194.73 181.27 207.78 230.14 222.13 210.90 195.37 Net Sales Growth 15.49% 14.13% 12.90% 14.28% 7.43% -12.76% -9.72% 3.61% 5.32% 7.95% 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 319.45 286.73 251.24 222.54 194.73 181.27 207.78 230.14 222.13 210.90 195.37 GP Margin 100.00% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% Total Expenditure 204.05 190.18 183.61 162.60 139.95 138.95 149.27 141.13 124.33 129.23 117.96 Power & Fuel Cost - 0.55 0.66 0.70 0.40 0.34 0.77 0.83 0.88 1.10 1.35 % Of Sales - 0.19% 0.26% 0.31% 0.21% 0.19% 0.37% 0.36% 0.40% 0.52% 0.69% Employee Cost - 149.57 145.21 123.43 111.45 110.04 105.11 107.42 95.33 90.80 83.33 % Of Sales - 52.16% 57.80% 55.46% 57.23% 60.71% 50.59% 46.68% 42.92% 43.05% 42.65% Manufacturing Exp. - 3.90 3.81 11.31 9.28 7.85 6.94 5.68 4.96 4.22 3.35 % Of Sales - 1.36% 1.52% 5.08% 4.77% 4.33% 3.34% 2.47% 2.23% 2.00% 1.71% General & Admin Exp. - 33.23 30.99 18.12 14.92 17.82 30.91 22.15 19.39 25.36 21.15 % Of Sales - 11.59% 12.33% 8.14% 7.66% 9.83% 14.88% 9.62% 8.73% 12.02% 10.83% Selling & Distn. Exp. - 0.07 0.03 0.03 0.03 0.03 0.03 0.06 0.09 0.09 0.04 % Of Sales - 0.02% 0.01% 0.01% 0.02% 0.02% 0.01% 0.03% 0.04% 0.04% 0.02% Miscellaneous Exp. - 2.86 2.91 9.01 3.87 2.88 5.51 4.99 3.69 7.67 0.04 % Of Sales - 1.00% 1.16% 4.05% 1.99% 1.59% 2.65% 2.17% 1.66% 3.64% 4.48% EBITDA 115.40 96.55 67.63 59.94 54.78 42.32 58.51 89.01 97.80 81.67 77.41 EBITDA Margin 36.12% 33.67% 26.92% 26.93% 28.13% 23.35% 28.16% 38.68% 44.03% 38.72% 39.62% Other Income 72.18 102.05 90.96 65.57 45.42 36.32 40.57 44.53 50.74 48.83 23.69 Interest 1.22 1.72 3.77 1.34 1.51 1.73 1.66 0.03 0.03 0.04 0.00 Depreciation 8.79 7.92 7.99 7.03 5.34 5.25 5.38 2.43 2.66 3.20 3.56 PBT 175.39 188.96 146.84 117.13 93.35 71.66 92.05 131.07 145.84 127.25 97.54 Tax 43.01 40.76 23.68 21.20 20.04 18.72 27.07 35.09 45.52 36.09 32.62 Tax Rate 24.52% 21.57% 16.13% 18.10% 21.47% 26.12% 29.41% 26.77% 31.21% 26.92% 34.67% PAT 132.37 148.19 123.16 95.93 73.31 52.95 64.98 95.97 100.32 97.97 61.47 PAT before Minority Interest 132.37 148.19 123.16 95.93 73.31 52.95 64.98 95.97 100.32 97.97 61.47 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 41.44% 51.68% 49.02% 43.11% 37.65% 29.21% 31.27% 41.70% 45.16% 46.45% 31.46% PAT Growth -5.25% 20.32% 28.39% 30.86% 38.45% -18.51% -32.29% -4.34% 2.40% 59.38% EPS 136.46 152.77 126.97 98.90 75.58 54.59 66.99 98.94 103.42 101.00 63.37

Description TTM Mar 25 Mar 24 Mar 23 Mar 22 Mar 21 Mar 20 Mar 19 Mar 18 Mar 17 Mar 16
Net Sales 560.87 498.02 446.11 403.23 342.81 301.06 321.09 328.06 308.87 291.54 266.20 Net Sales Growth 15.46% 11.64% 10.63% 17.62% 13.87% -6.24% -2.12% 6.21% 5.94% 9.52% 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 560.87 498.02 446.11 403.23 342.81 301.06 321.09 328.06 308.87 291.54 266.20 GP Margin 100.00% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% Total Expenditure 356.24 320.26 297.35 260.32 222.22 219.93 225.25 215.12 193.79 193.20 172.43 Power & Fuel Cost - 1.47 1.53 1.40 0.90 0.89 1.97 2.12 2.18 2.55 3.03 % Of Sales - 0.30% 0.34% 0.35% 0.26% 0.30% 0.61% 0.65% 0.71% 0.87% 1.14% Employee Cost - 261.13 240.36 207.56 179.25 171.70 161.67 160.80 142.53 156.41 158.87 % Of Sales - 52.43% 53.88% 51.47% 52.29% 57.03% 50.35% 49.02% 46.15% 53.65% 59.68% Manufacturing Exp. - 5.26 6.61 15.10 13.95 13.18 16.06 10.91 10.86 -17.05 -40.48 % Of Sales - 1.06% 1.48% 3.74% 4.07% 4.38% 5.00% 3.33% 3.52% -5.85% -15.21% General & Admin Exp. - 47.05 43.88 27.22 22.38 24.51 39.23 32.48 29.55 38.13 36.42 % Of Sales - 9.45% 9.84% 6.75% 6.53% 8.14% 12.22% 9.90% 9.57% 13.08% 13.68% Selling & Distn. Exp. - 0.18 0.26 0.30 0.23 0.19 0.10 0.08 0.10 0.15 0.04 % Of Sales - 0.04% 0.06% 0.07% 0.07% 0.06% 0.03% 0.02% 0.03% 0.05% 0.02% Miscellaneous Exp. - 5.18 4.71 8.75 5.52 9.46 6.22 8.73 8.57 13.00 0.04 % Of Sales - 1.04% 1.06% 2.17% 1.61% 3.14% 1.94% 2.66% 2.77% 4.46% 5.47% EBITDA 204.63 177.76 148.76 142.91 120.59 81.13 95.84 112.94 115.08 98.34 93.77 EBITDA Margin 36.48% 35.69% 33.35% 35.44% 35.18% 26.95% 29.85% 34.43% 37.26% 33.73% 35.23% Other Income 81.46 77.41 74.97 49.55 40.88 42.85 47.97 44.80 49.36 39.59 27.13 Interest 4.74 4.80 10.41 1.41 1.56 2.06 2.04 0.07 0.10 0.04 0.22 Depreciation 22.74 16.39 13.46 9.83 7.81 9.92 10.29 5.62 7.53 8.54 9.58 PBT 251.71 233.97 199.86 181.22 152.09 112.01 131.48 152.04 156.80 129.35 111.11 Tax 65.88 62.77 47.62 44.49 38.55 29.32 34.24 46.09 55.62 41.79 37.69 Tax Rate 26.17% 26.83% 23.83% 24.55% 25.35% 26.18% 26.04% 30.31% 35.47% 32.31% 33.92% PAT 185.83 170.01 151.09 135.24 112.29 81.66 96.18 105.41 100.69 87.35 73.23 PAT before Minority Interest 184.80 171.20 152.24 136.73 113.53 82.68 97.24 105.95 101.18 87.56 73.42 Minority Interest -1.03 -1.19 -1.15 -1.49 -1.24 -1.02 -1.06 -0.54 -0.49 -0.21 -0.19 PAT Margin 33.13% 34.14% 33.87% 33.54% 32.76% 27.12% 29.95% 32.13% 32.60% 29.96% 27.51% PAT Growth 14.51% 12.52% 11.72% 20.44% 37.51% -15.10% -8.76% 4.69% 15.27% 19.28% EPS 191.58 175.27 155.76 139.42 115.76 84.19 99.15 108.67 103.80 90.05 75.49

Results Balance Sheet

Consolidated Figures in Rs. Crores /

Standalone

Right to Left

Description Mar 25 Mar 24 Mar 23 Mar 22 Mar 21 Mar 20 Mar 19 Mar 18 Mar 17 Mar 16
Shareholder's Funds 804.37 741.43 736.59 664.78 614.58 582.53 548.25 570.86 501.84 408.36 Share Capital 9.65 9.65 9.65 9.65 9.65 9.65 9.65 9.90 9.90 10.00 Total Reserves 790.17 730.28 726.93 655.13 604.93 572.88 538.59 559.98 489.83 393.58 Non-Current Liabilities 371.11 350.33 329.88 294.45 340.96 316.44 266.32 257.72 222.57 193.68 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 356.80 344.54 320.91 286.31 330.77 304.73 268.83 259.35 224.65 196.81 Current Liabilities 180.54 138.57 121.75 153.08 104.71 109.57 129.16 135.60 124.75 149.33 Trade Payables 4.92 5.07 5.57 6.37 3.34 9.39 4.77 3.39 5.35 3.46 Other Current Liabilities 125.97 102.49 68.93 56.64 62.29 58.01 69.05 65.38 64.45 63.57 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 49.65 31.01 47.25 90.08 39.09 42.17 55.34 66.83 54.95 82.30 Total Liabilities 1,356.02 1,230.33 1,188.22 1,112.31 1,060.25 1,008.54 943.73 964.18 849.16 751.37 Net Block 26.31 23.14 26.83 25.53 24.88 28.82 10.68 12.14 12.99 15.49 Gross Block 62.87 52.87 51.75 47.31 41.47 41.04 17.84 17.36 16.11 39.72 Accumulated Depreciation 36.56 29.73 24.92 21.78 16.59 12.22 7.16 5.23 3.12 24.22 Non Current Assets 477.98 824.74 814.61 747.53 669.24 404.17 449.18 584.22 421.73 492.99 Capital Work in Progress 1.33 0.91 1.23 0.55 2.33 1.88 1.27 0.00 0.00 0.00 Non Current Investment 37.12 425.55 444.51 418.58 184.68 51.19 130.94 266.37 160.22 254.03 Long Term Loans & Adv. 387.55 370.69 341.58 301.46 341.96 314.42 278.37 269.95 238.15 206.48 Other Non Current Assets 25.67 4.45 0.46 1.41 115.41 7.86 27.92 35.76 10.37 16.99 Current Assets 878.04 405.61 373.61 364.79 391.01 604.37 494.54 379.96 427.44 258.39 Current Investments 618.79 256.72 213.28 62.15 19.00 79.70 77.48 98.72 176.99 17.00 Inventories 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Sundry Debtors 26.45 23.09 12.77 10.21 15.99 33.39 19.43 21.73 18.56 16.49 Cash & Bank 173.55 95.37 118.52 207.22 323.41 435.24 338.94 194.54 183.13 181.09 Other Current Assets 59.25 8.00 6.81 18.95 32.61 56.03 58.69 64.96 48.77 43.82 Short Term Loans & Adv. 52.67 22.42 22.22 66.26 18.57 28.27 35.05 51.50 35.94 34.08 Net Current Assets 697.50 267.03 251.85 211.71 286.30 494.80 365.38 244.36 302.68 109.05 Total Assets 1,356.02 1,230.35 1,188.22 1,112.32 1,060.25 1,008.54 943.72 964.18 849.17 751.38

Description Mar 25 Mar 24 Mar 23 Mar 22 Mar 21 Mar 20 Mar 19 Mar 18 Mar 17 Mar 16
Shareholder's Funds 1,053.23 976.49 950.28 843.61 757.73 701.61 640.87 655.02 548.99 476.24 Share Capital 9.65 9.65 9.65 9.65 9.65 9.65 9.65 9.90 9.90 10.00 Total Reserves 1,039.03 965.33 940.63 833.96 748.08 691.96 631.22 644.14 536.97 461.46 Non-Current Liabilities 57.05 51.18 11.86 10.63 13.11 19.89 4.13 4.13 1.40 7.13 Secured Loans 0.63 1.02 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 3.44 3.14 2.73 3.11 3.40 7.08 5.90 5.37 5.03 12.21 Current Liabilities 177.10 151.86 131.74 115.49 116.11 115.02 118.60 106.79 104.81 136.99 Trade Payables 9.11 7.41 8.38 9.24 7.80 15.52 10.46 7.71 8.39 9.14 Other Current Liabilities 163.44 133.03 80.91 68.99 78.14 72.80 79.24 72.80 69.98 75.62 Short Term Borrowings 0.26 0.49 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Short Term Provisions 4.28 10.93 42.45 37.26 30.17 26.69 28.90 26.29 26.44 52.23 Total Liabilities 1,291.80 1,184.02 1,098.53 973.84 890.24 839.11 765.33 767.27 656.15 621.16 Net Block 89.63 91.32 47.10 45.60 46.45 54.50 33.84 36.48 36.55 91.94 Gross Block 154.92 144.35 91.58 85.38 79.62 82.37 52.20 50.02 43.12 143.96 Accumulated Depreciation 65.29 53.03 44.48 39.78 33.17 27.88 18.36 13.54 6.57 52.01 Non Current Assets 163.69 527.56 533.09 537.90 395.25 118.95 201.63 365.55 212.26 302.30 Capital Work in Progress 3.51 0.91 1.34 1.55 3.41 2.04 1.40 0.20 0.81 0.71 Non Current Investment 1.25 390.20 425.15 391.66 157.76 24.27 104.02 239.45 133.30 167.44 Long Term Loans & Adv. 37.68 33.24 26.07 20.14 15.51 16.25 16.58 18.15 20.52 23.41 Other Non Current Assets 31.61 11.90 33.42 78.95 172.12 21.89 45.80 71.27 21.08 18.80 Current Assets 1,128.12 656.46 565.45 435.95 494.99 720.16 563.70 401.73 443.90 318.85 Current Investments 771.50 423.24 263.36 62.15 19.00 79.70 77.48 99.03 177.30 17.31 Inventories 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Sundry Debtors 47.59 51.09 38.05 26.50 47.51 57.19 33.81 40.60 33.95 47.83 Cash & Bank 281.53 155.54 241.50 310.13 399.45 526.79 407.49 230.59 202.59 225.89 Other Current Assets 27.49 15.62 17.55 34.35 29.04 56.47 44.94 31.51 30.05 27.82 Short Term Loans & Adv. 13.75 10.97 4.99 2.81 7.54 13.68 9.30 14.49 10.16 15.27 Net Current Assets 951.01 504.59 433.70 320.45 378.88 605.14 445.10 294.93 339.08 181.86 Total Assets 1,291.81 1,184.02 1,098.54 973.85 890.24 839.11 765.33 767.28 656.16 621.15

Cash Flow

Consolidated Figures in Rs. Crores /

Standalone

Right to Left

Description Mar 25 Mar 24 Mar 23 Mar 22 Mar 21 Mar 20 Mar 19 Mar 18 Mar 17 Mar 16
Cash From Operating Activity 93.74 56.52 52.54 38.64 52.78 2.97 60.41 52.25 45.38 55.57 PBT 188.96 146.84 117.13 93.35 71.66 92.05 131.07 145.84 134.07 94.08 Adjustment -66.83 -66.53 -47.53 -36.97 -26.18 -27.57 -40.64 -47.09 -47.39 -11.06 Changes in Working Capital 6.20 5.02 7.30 5.24 26.38 -33.94 4.34 -2.66 -6.42 5.77 Cash after chg. in Working capital 128.32 85.33 76.90 61.63 71.87 30.55 94.76 96.09 80.26 88.79 Interest Paid 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Tax Paid -34.58 -28.80 -24.36 -22.99 -19.09 -27.58 -34.35 -43.84 -34.88 -33.22 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 10.14 70.71 -23.51 -14.12 -11.79 24.28 56.03 -6.70 23.68 -30.75 Net Fixed Assets -10.42 -0.80 -5.12 -4.06 -0.88 -23.81 -1.75 -1.25 23.61 0.61 Net Investments 26.36 -24.48 -177.06 -277.05 -72.79 77.53 156.67 -27.88 -66.18 72.56 Others -5.80 95.99 158.67 266.99 61.88 -29.44 -98.89 22.43 66.25 -103.92 Cash from Financing Activity -101.28 -129.89 -31.10 -30.13 -29.95 -38.43 -120.11 -31.09 -68.13 -28.89 Net Cash Inflow / Outflow 2.59 -2.66 -2.07 -5.61 11.04 -11.18 -3.68 14.45 0.93 -4.08 Opening Cash & Equivalents 2.18 4.84 6.91 12.52 1.48 12.66 16.34 1.89 0.96 5.04 Closing Cash & Equivalent 4.78 2.18 4.84 6.91 12.52 1.48 12.66 16.34 1.89 0.96

Description Mar 25 Mar 24 Mar 23 Mar 22 Mar 21 Mar 20 Mar 19 Mar 18 Mar 17 Mar 16
Cash From Operating Activity 144.89 107.01 99.26 96.66 76.38 21.32 80.85 61.90 63.40 71.19 PBT 233.97 199.86 181.22 152.09 112.01 131.48 152.04 156.80 132.28 118.00 Adjustment -51.54 -51.31 -32.28 -30.71 -26.47 -33.51 -36.30 -36.08 -20.99 -6.40 Changes in Working Capital 17.64 9.30 -2.08 16.74 20.91 -41.21 6.88 -7.81 -5.19 3.25 Cash after chg. in Working capital 200.07 157.85 146.85 138.11 106.45 56.76 122.62 112.92 106.11 114.85 Interest Paid 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Tax Paid -55.18 -50.84 -47.60 -41.45 -30.06 -35.44 -41.77 -51.02 -42.71 -43.66 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 -16.89 27.49 -76.84 -71.86 -32.11 11.15 44.71 -53.77 10.21 -41.48 Net Fixed Assets -10.42 -0.80 -5.12 -4.06 -0.88 -23.81 -1.75 -1.25 23.61 0.61 Net Investments 26.36 -24.48 -177.06 -277.05 -72.79 77.53 156.67 -27.88 -66.18 72.56 Others -32.83 52.77 105.34 209.25 41.56 -42.57 -110.21 -24.64 52.78 -114.65 Cash from Financing Activity -103.13 -136.71 -32.13 -31.32 -32.03 -40.68 -120.94 4.14 -68.89 -39.57 Net Cash Inflow / Outflow 24.88 -2.21 -9.71 -6.52 12.24 -8.21 4.62 12.27 4.72 -9.86 Opening Cash & Equivalents 9.98 12.16 21.92 28.45 16.21 24.42 19.80 7.53 24.54 33.22 Closing Cash & Equivalent 34.86 9.98 12.16 21.92 28.45 16.21 24.42 19.80 7.53 24.46

Financial Ratios

Consolidated /

Standalone

Right to Left

Description Mar 25 Mar 24 Mar 23 Mar 22 Mar 21 Mar 20 Mar 19 Mar 18 Mar 17 Mar 16
Book Value (Rs.) 828.72 766.67 763.21 688.81 636.79 603.58 568.06 575.44 504.61 403.58 ROA 11.46% 10.18% 8.34% 6.75% 5.12% 6.66% 10.06% 11.06% 12.24% 8.59% ROE 19.25% 16.68% 13.69% 11.46% 8.85% 11.49% 17.17% 18.76% 21.69% 15.87% ROCE 24.67% 20.38% 16.91% 14.83% 12.26% 16.58% 23.43% 27.20% 29.47% 23.96% Fixed Asset Turnover 4.95 4.80 4.49 4.39 4.39 7.06 13.07 13.27 7.56 4.88 Receivable days 31.54 26.05 18.85 24.55 49.72 46.39 32.64 33.10 30.32 35.59 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 21.65 12.71 15.25 16.06 9.68 Cash Conversion Cycle 31.54 26.05 18.85 24.55 49.72 24.74 19.93 17.85 14.27 25.91 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 110.86 39.98 88.27 62.92 42.41 56.38 3948.79 4216.07 3447.41 0.00

Description Mar 25 Mar 24 Mar 23 Mar 22 Mar 21 Mar 20 Mar 19 Mar 18 Mar 17 Mar 16
Book Value (Rs.) 1086.58 1010.22 984.62 874.10 785.11 726.97 664.04 660.43 552.21 471.46 ROA 13.83% 13.34% 13.20% 12.18% 9.56% 12.12% 13.83% 14.22% 13.90% 12.74% ROE 16.92% 15.82% 15.24% 14.18% 11.33% 14.49% 16.36% 16.85% 17.44% 17.09% ROCE 23.49% 21.81% 20.36% 19.19% 15.63% 19.89% 23.48% 26.06% 25.81% 25.91% Fixed Asset Turnover 3.33 3.78 4.56 4.16 3.72 4.77 6.42 6.63 3.56 2.42 Receivable days 36.16 36.47 29.21 39.40 63.47 51.72 41.39 44.05 44.81 54.31 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 24.77 18.36 17.89 16.81 14.80 Cash Conversion Cycle 36.16 36.47 29.21 39.40 63.47 26.95 23.03 26.16 28.01 39.51 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 49.71 20.20 129.30 98.40 55.45 65.30 2033.59 1514.56 3401.48 214.96

Top Investors:

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

pari washington india master fund, ltd

parag parikh flexi cap fund

sbi banking & financial services fund

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

pari washington investment fund

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

jm financial mutual fund - jm flexicap fund

general insurance corporation of india

hdfc life insurance company limited

Annual Reports:

News Update:

ICRA - Quarterly Results
29th Jan 2026, 00:00 AM

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Source: www.accordfintech.com | DISCLAIMER: Information is provided " as is" and solely for informational purposes, not for trading purposes or advice, and may be delayed.

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