M 
389.20
-0.54%
Close of 9 Nov 2026, in INR
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At a glance
Figures in INR, from our data supplier.
Revenue
₹8.77bn
FY2017FY2026
Net income
₹583.7m
FY2017FY2026
Free cash flow
−₹505.0m
FY2017FY2026
Shareholders' equity
₹4.93bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹8.77bn | ₹7.67bn | ₹6.22bn | ₹4.42bn | ₹3.76bn | ₹2.51bn | ₹2.63bn | ₹4.00bn | ₹3.82bn | ₹2.71bn |
| Gross profit | ₹1.72bn | ₹1.37bn | ₹925.0m | ₹676.3m | ₹524.4m | ₹432.1m | ₹352.5m | ₹421.9m | ₹476.9m | ₹418.4m |
| Research and development | — | — | — | — | — | — | ₹2.0m | ₹6.0m | — | — |
| Operating income | ₹796.9m | ₹531.4m | ₹483.5m | ₹327.6m | ₹241.1m | ₹241.4m | ₹151.2m | ₹191.7m | ₹271.1m | ₹203.6m |
| Net income | ₹583.7m | ₹384.3m | ₹259.0m | ₹170.0m | ₹129.8m | ₹129.0m | ₹56.1m | ₹92.2m | ₹157.6m | ₹102.2m |
| Diluted earnings per share | 4.17 | 2.78 | 1.89 | 1.30 | 1.01 | 1.04 | 0.46 | 0.75 | 1.30 | 0.73 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ₹8.90bn | ₹7.25bn | ₹6.16bn | ₹4.66bn | ₹3.73bn | ₹3.83bn | ₹3.81bn | ₹3.73bn | ₹3.54bn | ₹2.27bn |
| Cash and short-term investments | ₹1.48bn | ₹553.1m | ₹69.8m | ₹33.2m | ₹14.4m | ₹136.5m | ₹76.3m | ₹54.3m | ₹145.6m | ₹34.1m |
| Total liabilities | ₹3.89bn | ₹3.17bn | ₹3.60bn | ₹2.51bn | ₹1.92bn | ₹2.13bn | ₹2.20bn | ₹2.13bn | ₹2.51bn | ₹1.47bn |
| Debt | ₹886.0m | ₹551.9m | ₹970.4m | ₹657.0m | ₹366.2m | ₹583.0m | ₹538.4m | ₹580.9m | ₹456.0m | ₹403.9m |
| Shareholders' equity | ₹4.93bn | ₹4.04bn | ₹2.51bn | ₹2.08bn | ₹1.75bn | ₹1.63bn | ₹1.56bn | ₹1.55bn | ₹940.5m | ₹748.2m |
| Shares outstanding | 140m | 138m | 137m | 131m | 128m | 124m | 122m | 123m | 121m | 140m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −₹222.3m | ₹554.4m | −₹73.6m | −₹20.9m | ₹470.6m | ₹22.8m | ₹226.4m | −₹534.8m | ₹310.4m | ₹131.2m |
| Capital spending | −₹282.7m | −₹217.5m | −₹241.6m | −₹229.7m | −₹119.0m | −₹47.1m | −₹26.1m | −₹80.5m | −₹72.5m | −₹178.5m |
| Free cash flow | −₹505.0m | ₹336.9m | −₹315.2m | −₹250.6m | ₹351.7m | −₹24.3m | ₹200.3m | −₹615.3m | ₹238.0m | −₹47.4m |
| Dividends paid | −₹41.3m | −₹26.4m | — | — | −₹24.4m | −₹24.4m | −₹24.4m | −₹24.4m | — | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ₹2.59bn | ₹2.77bn | ₹2.10bn | ₹2.22bn | ₹1.67bn | ₹2.51bn | ₹1.94bn | ₹1.84bn |
| Gross profit | ₹466.8m | ₹517.7m | ₹412.5m | ₹476.9m | ₹503.8m | ₹437.2m | ₹320.0m | ₹377.0m |
| Operating income | ₹235.8m | ₹276.5m | ₹163.4m | ₹261.8m | ₹352.3m | ₹214.3m | ₹117.7m | ₹177.3m |
| Net income | ₹172.7m | ₹184.8m | ₹117.8m | ₹164.9m | ₹116.1m | ₹133.8m | ₹51.9m | ₹127.2m |
| Diluted earnings per share | 1.23 | 1.32 | 0.85 | 1.19 | 0.84 | 0.97 | 0.38 | 0.93 |
| Cash from operations | — | — | — | ₹283.0m | — | ₹554.0m | — | ₹604.0m |
| Capital spending | — | — | — | −₹210.0m | — | −₹217.0m | — | −₹101.0m |
| Free cash flow | — | — | — | ₹73.0m | — | ₹337.0m | — | ₹503.0m |
| Total assets | — | ₹8.90bn | — | ₹7.59bn | — | ₹7.25bn | — | ₹7.21bn |
| Cash and short-term investments | — | ₹1.48bn | ₹1.79bn | ₹1.50bn | ₹553.1m | ₹553.1m | ₹561.4m | ₹1.62bn |
| Debt | — | ₹862.0m | — | ₹557.3m | — | ₹571.5m | — | ₹871.9m |
| Shareholders' equity | — | ₹4.93bn | ₹4.38bn | ₹4.30bn | ₹4.08bn | ₹4.04bn | ₹3.89bn | ₹3.84bn |
Financial ratios
Data as of 24 Sept 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Gross margin | 19.7% | 17.8% | 14.9% | 15.3% | 14.0% | 17.2% | — | — |
| Operating margin | 9.1% | 6.9% | 7.8% | 7.4% | 6.4% | 9.6% | — | — |
| Net margin | 6.7% | 5.0% | 4.2% | 3.8% | 3.5% | 5.1% | — | — |
| Return on equity | 11.8% | 9.5% | 10.3% | 8.2% | 7.4% | 7.9% | — | — |
| Return on assets | 6.6% | 5.3% | 4.2% | 3.6% | 3.5% | 3.4% | — | — |
| Free cash flow yield | 0.1% | 1.4% | 0.3% | 0.4% | 1.1% | 0.1% | — | — |
| Revenue growth | 14.3% | 23.4% | 40.7% | 17.6% | 49.8% | -4.5% | — | — |
| Earnings growth | 51.9% | 48.4% | 52.4% | 31.0% | 0.6% | 129.7% | — | — |
| Current ratio | 2.12x | 2.14x | 1.48x | 1.60x | 1.65x | 1.61x | — | — |
| Debt to equity | 0.17x | 0.13x | 0.38x | 0.31x | 0.21x | 0.35x | — | — |
| Equity ratio | 55.4% | 55.7% | 40.7% | 44.7% | 46.8% | 42.5% | — | — |
| Interest coverage | 4.19x | 3.78x | 3.91x | 3.30x | 3.31x | 2.70x | — | — |
| R&D as a share of sales | — | — | — | — | — | — | 0.1% | 0.2% |
| Buybacks as a share of market value | -1.2% | -1.2% | -4.4% | -2.2% | -3.6% | -1.3% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 25.7% | 28.4% | 13.4% |
| Operating income | 34.5% | 27.0% | 17.8% |
| Net income | 50.9% | 35.3% | 20.3% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 18.8% | 17.3% | 16.9% | 15.8% |
| Operating margin | 8.1% | 7.9% | 7.9% | 7.3% |
| Net margin | 5.9% | 5.2% | 5.0% | 4.4% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 109.0 | 77.5 | 136.7 | 78.3 | 31.8 | 38.3 | 97.4 | 26.6 | 12.2 |
| Price to sales | 7.3 | 3.9 | 5.7 | 3.0 | 1.1 | 2.0 | 2.1 | 0.6 | 0.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 2 years. Last went ex-dividend on 12 Sept 2025.
| FY2026 | FY2025 | FY2022 | |
|---|---|---|---|
| Paid in the year | 0.30 | 0.20 | 0.20 |
- 5-for-1 split · 18 Feb 2021
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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