I 
219.34
+1.99%
Close of 9 Nov 2026, in INR
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At a glance
Figures in INR, from our data supplier.
Revenue
₹18.45bn
FY2017FY2026
Net income
−₹987.0m
FY2017FY2026
Free cash flow
−₹1.15bn
FY2017FY2026
Shareholders' equity
₹9.39bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹18.45bn | ₹16.65bn | ₹17.88bn | ₹16.40bn | ₹15.04bn | ₹12.19bn | ₹10.80bn | ₹9.42bn | ₹10.18bn | ₹10.97bn |
| Research and development | ₹795.4m | ₹760.1m | ₹971.6m | ₹809.7m | ₹746.4m | ₹597.0m | ₹497.0m | ₹515.2m | ₹534.9m | ₹517.1m |
| Operating income | ₹153.5m | −₹81.4m | ₹1.75bn | ₹1.98bn | ₹2.47bn | ₹1.54bn | ₹619.1m | ₹106.7m | ₹644.6m | ₹954.9m |
| Net income | −₹987.0m | −₹737.4m | ₹984.6m | ₹1.42bn | ₹1.55bn | ₹930.5m | ₹241.2m | −₹29.0m | ₹411.6m | ₹770.6m |
| Diluted earnings per share | -10.77 | -8.00 | 11.49 | 15.44 | 16.80 | 10.10 | 2.62 | -0.32 | 4.45 | 8.41 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ₹25.93bn | ₹24.30bn | ₹21.45bn | ₹16.58bn | ₹14.86bn | ₹13.15bn | ₹12.72bn | ₹12.58bn | ₹12.36bn | ₹11.97bn |
| Cash and short-term investments | ₹458.4m | ₹153.2m | ₹221.0m | ₹119.2m | ₹416.2m | ₹115.2m | ₹267.6m | ₹302.5m | ₹97.5m | ₹755.0m |
| Total liabilities | ₹16.61bn | ₹14.12bn | ₹10.34bn | ₹6.30bn | ₹5.81bn | ₹5.46bn | ₹5.92bn | ₹5.97bn | ₹5.61bn | ₹5.45bn |
| Debt | ₹10.90bn | ₹9.94bn | ₹6.72bn | ₹3.33bn | ₹2.57bn | ₹2.67bn | ₹2.69bn | ₹2.97bn | ₹2.82bn | ₹2.51bn |
| Shareholders' equity | ₹9.39bn | ₹10.22bn | ₹11.10bn | ₹10.28bn | ₹9.05bn | ₹7.69bn | ₹6.80bn | ₹6.61bn | ₹6.75bn | ₹6.52bn |
| Shares outstanding | 92m | 92m | 86m | 92m | 92m | 92m | 92m | 92m | 92m | 92m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | ₹324.3m | ₹278.9m | ₹1.55bn | ₹1.79bn | ₹1.74bn | ₹822.2m | ₹1.23bn | ₹1.32bn | ₹1.23bn | ₹886.4m |
| Capital spending | −₹1.48bn | −₹3.56bn | −₹4.27bn | −₹2.07bn | −₹1.25bn | −₹768.5m | −₹584.6m | −₹969.5m | −₹1.39bn | −₹1.90bn |
| Free cash flow | −₹1.15bn | −₹3.28bn | −₹2.72bn | −₹284.3m | ₹485.1m | ₹53.7m | ₹643.8m | ₹351.7m | −₹167.3m | −₹1.01bn |
| Dividends paid | −₹19.1m | −₹139.0m | −₹207.1m | −₹207.2m | −₹137.9m | −₹27.9m | −₹33.6m | −₹110.9m | −₹177.3m | −₹24.2m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ₹4.66bn | ₹4.76bn | ₹4.45bn | ₹4.72bn | ₹4.29bn | ₹3.90bn | ₹4.02bn | ₹4.33bn |
| Operating income | ₹64.9m | ₹172.2m | −₹5.0m | ₹108.0m | −₹105.4m | −₹275.4m | −₹148.5m | ₹114.3m |
| Net income | ₹649.9m | −₹236.8m | −₹297.9m | −₹79.3m | −₹357.9m | −₹403.9m | −₹263.9m | −₹95.7m |
| Diluted earnings per share | 7.09 | -2.58 | -3.23 | -0.86 | -3.88 | -4.38 | -3.08 | -1.12 |
| Cash from operations | — | — | — | ₹1.58bn | — | ₹949.0m | — | ₹1.12bn |
| Capital spending | — | — | — | −₹1.04bn | — | −₹3.56bn | — | −₹2.23bn |
| Free cash flow | — | — | — | ₹540.0m | — | −₹2.61bn | — | −₹1.11bn |
| Total assets | — | ₹25.93bn | — | ₹25.08bn | — | ₹24.30bn | — | ₹23.90bn |
| Cash and short-term investments | ₹329.9m | ₹329.9m | ₹193.2m | ₹231.5m | ₹170.7m | ₹170.7m | ₹417.3m | ₹417.3m |
| Debt | — | ₹10.47bn | — | ₹9.99bn | — | ₹10.00bn | — | ₹8.34bn |
| Shareholders' equity | ₹9.32bn | ₹9.39bn | ₹9.74bn | ₹9.80bn | ₹10.18bn | ₹10.22bn | ₹10.89bn | ₹10.90bn |
Financial ratios
Data as of 28 Sept 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating margin | 0.8% | -0.5% | 9.8% | 12.1% | 16.5% | 12.6% |
| Net margin | -5.3% | -4.4% | 5.5% | 8.7% | 10.3% | 7.6% |
| Return on equity | -10.5% | -7.2% | 8.9% | 13.8% | 17.1% | 12.1% |
| Return on assets | -3.8% | -3.0% | 4.6% | 8.6% | 10.4% | 7.1% |
| Free cash flow yield | 7.9% | 16.7% | 27.3% | 16.8% | 13.0% | 6.9% |
| Revenue growth | 10.8% | -6.9% | 9.0% | 9.1% | 23.4% | 12.8% |
| Earnings growth | 33.8% | -174.9% | -30.8% | -8.1% | 66.4% | 285.8% |
| Current ratio | 1.13x | 1.24x | 1.56x | 1.92x | 1.82x | 1.53x |
| Debt to equity | 1.12x | 0.96x | 0.59x | 0.31x | 0.27x | 0.34x |
| Equity ratio | 36.2% | 42.1% | 51.8% | 62.0% | 60.9% | 58.5% |
| Interest coverage | 0.13x | -0.12x | 4.72x | 7.97x | 22.80x | 6.97x |
| R&D as a share of sales | 4.3% | 4.6% | 5.4% | 4.9% | 5.0% | 4.9% |
| Buybacks as a share of market value | 0.5% | -7.6% | 7.0% | 0.0% | 0.0% | 0.1% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 4.0% | 8.7% | 6.3% |
| Operating income | -57.3% | -37.0% | -18.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 0.2% | 5.5% | 8.1% | 7.6% |
| Net margin | -4.9% | 1.0% | 3.3% | 3.6% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -20.3 | -29.3 | 28.9 | 25.6 | 24.2 | 45.0 | 116.3 | -606.3 | 48.6 | 33.4 |
| Price to sales | 1.1 | 1.3 | 1.6 | 2.2 | 2.5 | 3.4 | 2.6 | 1.9 | 2.0 | 2.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 21 years. Last went ex-dividend on 10 Sept 2026.
| FY2027 | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.20 | 0.20 | 1.50 | 2.25 | 1.50 | 1.50 | 0.30 | 0.30 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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