E 
92.27
-0.15%
Close of 9 Nov 2026, in INR
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At a glance
Figures in INR, from our data supplier.
Revenue
₹13.75bn
FY2017FY2026
Net income
−₹274.7m
FY2017FY2026
Free cash flow
−₹222.0m
FY2017FY2026
Shareholders' equity
₹7.83bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹13.75bn | ₹12.82bn | ₹10.57bn | ₹11.08bn | ₹11.08bn | ₹9.88bn | ₹10.35bn | ₹10.24bn | ₹8.07bn | ₹7.00bn |
| Research and development | — | ₹126.5m | ₹168.0m | ₹128.9m | ₹248.0m | ₹57.4m | ₹58.8m | — | ₹43.5m | ₹46.5m |
| Operating income | ₹246.1m | ₹4.16bn | −₹612.6m | ₹924.4m | ₹1.38bn | ₹2.02bn | ₹1.59bn | ₹813.1m | ₹400.1m | ₹123.1m |
| Net income | −₹274.7m | ₹137.0m | −₹1.21bn | ₹1.37bn | ₹1.37bn | ₹1.37bn | ₹995.0m | ₹311.1m | ₹52.9m | −₹106.9m |
| Diluted earnings per share | -2.71 | 1.40 | -12.88 | 16.42 | 16.37 | 16.49 | 11.93 | 3.74 | 0.63 | -1.33 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ₹16.74bn | ₹15.73bn | ₹16.43bn | ₹17.15bn | ₹14.28bn | ₹8.62bn | ₹6.91bn | ₹6.65bn | ₹7.04bn | ₹6.81bn |
| Cash and short-term investments | ₹1.59bn | ₹1.26bn | ₹1.84bn | ₹2.05bn | ₹604.0m | ₹350.5m | ₹228.2m | ₹61.6m | ₹72.9m | ₹64.0m |
| Total liabilities | ₹8.91bn | ₹8.00bn | ₹9.26bn | ₹9.71bn | ₹8.06bn | ₹3.50bn | ₹2.83bn | ₹3.51bn | ₹4.21bn | ₹4.04bn |
| Debt | ₹7.29bn | ₹6.60bn | ₹7.73bn | ₹8.16bn | ₹6.39bn | ₹2.08bn | ₹1.56bn | ₹2.49bn | ₹3.09bn | ₹3.12bn |
| Shareholders' equity | ₹7.83bn | ₹7.73bn | ₹7.18bn | ₹7.43bn | ₹6.22bn | ₹5.12bn | ₹4.08bn | ₹3.14bn | ₹2.83bn | ₹2.77bn |
| Shares outstanding | 101m | 98m | 94m | 83m | 83m | 83m | 83m | 83m | 84m | 80m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | ₹392.4m | ₹1.12bn | ₹437.8m | ₹577.4m | ₹618.7m | ₹1.46bn | ₹1.76bn | ₹1.17bn | ₹508.8m | ₹495.8m |
| Capital spending | −₹614.4m | −₹310.0m | −₹734.6m | −₹2.57bn | −₹4.14bn | −₹1.36bn | −₹430.9m | −₹258.2m | −₹159.5m | −₹139.1m |
| Free cash flow | −₹222.0m | ₹811.9m | −₹296.8m | −₹1.99bn | −₹3.52bn | ₹96.5m | ₹1.32bn | ₹912.0m | ₹349.3m | ₹356.7m |
| Dividends paid | −₹58.6m | — | −₹41.7m | −₹158.4m | −₹275.2m | −₹333.6m | −₹50.3m | −₹50.3m | −₹41.7m | −₹619,000 |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ₹4.32bn | ₹3.44bn | ₹3.39bn | ₹3.54bn | ₹3.38bn | ₹3.19bn | ₹3.46bn | ₹3.31bn |
| Operating income | ₹312.8m | ₹246.2m | −₹9.2m | −₹23.2m | ₹32.3m | ₹220.3m | ₹423.9m | ₹252.0m |
| Net income | ₹186.2m | ₹78.7m | −₹124.1m | −₹157.8m | −₹71.6m | ₹19.6m | ₹248.2m | ₹30.2m |
| Diluted earnings per share | 1.84 | 0.78 | -1.27 | -1.62 | -0.73 | 0.20 | 2.64 | 0.32 |
| Cash from operations | — | — | — | ₹256.0m | — | ₹1.12bn | — | ₹58.0m |
| Capital spending | — | — | — | −₹499.0m | — | −₹310.0m | — | −₹180.0m |
| Free cash flow | — | — | — | −₹243.0m | — | ₹811.0m | — | −₹122.0m |
| Total assets | — | ₹16.74bn | — | ₹17.02bn | — | ₹15.73bn | — | ₹15.82bn |
| Cash and short-term investments | ₹1.59bn | ₹1.59bn | ₹1.74bn | ₹1.75bn | ₹1.26bn | ₹1.26bn | ₹990.5m | ₹990.5m |
| Debt | — | ₹7.29bn | — | ₹7.38bn | — | ₹6.60bn | — | ₹7.33bn |
| Shareholders' equity | ₹7.83bn | ₹7.83bn | ₹7.92bn | ₹7.92bn | ₹7.73bn | ₹7.73bn | ₹7.01bn | ₹7.01bn |
Financial ratios
Data as of 9 Oct 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Operating margin | 3.0% | 6.1% | -6.1% | 5.4% | 12.9% | 20.6% | — |
| Net margin | -2.0% | 1.1% | -11.4% | 12.4% | 12.3% | 13.9% | — |
| Return on equity | -3.5% | 1.8% | -16.9% | 18.4% | 22.0% | 26.9% | — |
| Return on assets | -1.6% | 0.9% | -7.4% | 8.0% | 9.6% | 16.0% | — |
| Free cash flow yield | 10.7% | 15.7% | 13.4% | 40.4% | 61.1% | 36.2% | — |
| Revenue growth | 7.3% | 21.3% | -4.6% | -0.0% | 12.2% | -4.5% | — |
| Earnings growth | -300.5% | -111.3% | -188.4% | 0.1% | -0.6% | 38.2% | — |
| Current ratio | 1.44x | 1.52x | 1.27x | 1.69x | 1.95x | 1.91x | — |
| Debt to equity | 0.93x | 0.85x | 1.08x | 1.10x | 1.03x | 0.41x | — |
| Equity ratio | 46.8% | 49.1% | 43.7% | 43.4% | 43.5% | 59.4% | — |
| Interest coverage | 0.63x | 1.17x | -0.92x | 1.66x | 5.74x | 10.95x | — |
| R&D as a share of sales | — | 1.0% | 1.6% | 1.2% | 2.2% | 0.6% | 0.6% |
| Buybacks as a share of market value | -3.7% | -3.8% | -12.7% | 0.1% | -0.1% | 0.0% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 7.5% | 6.8% | 6.0% |
| Operating income | -35.7% | -34.3% | -5.0% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 16.6% | 9.8% | 11.7% | 10.2% |
| Net margin | -0.5% | 0.0% | 4.0% | 3.6% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -33.7 | 72.9 | -11.8 | 5.4 | 8.0 | 7.8 | 9.8 | 8.8 | 57.6 | -46.3 |
| Price to sales | 0.7 | 0.8 | 1.4 | 0.7 | 1.0 | 1.1 | 0.9 | 0.3 | 0.4 | 0.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 1 years. Last went ex-dividend on 19 Sept 2025.
| FY2026 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2015 | |
|---|---|---|---|---|---|---|---|
| Paid in the year | 0.60 | 0.50 | 1.90 | 3.30 | 4.00 | 0.50 | 0.50 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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