P 
14.74
+3.73%
Close of 9 Nov 2026, in INR
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At a glance
Figures in INR, from our data supplier.
Revenue
₹1.72bn
FY2017FY2026
Net income
−₹1.54bn
FY2017FY2026
Free cash flow
₹231.1m
FY2017FY2026
Shareholders' equity
₹712.7m
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹1.72bn | ₹2.58bn | ₹5.72bn | ₹9.72bn | ₹4.34bn | ₹2.60bn | ₹4.79bn | ₹3.26bn | ₹4.81bn | ₹2.70bn |
| Gross profit | ₹1.12bn | ₹1.09bn | ₹2.03bn | ₹1.44bn | ₹1.07bn | ₹39.8m | −₹2.91bn | −₹2.45bn | ₹108.4m | −₹266.9m |
| Research and development | — | — | ₹0 | ₹0 | ₹0 | ₹0 | ₹1 | ₹2 | ₹1 | ₹0 |
| Operating income | ₹337.2m | ₹159.9m | ₹1.81bn | ₹1.57bn | ₹337.2m | −₹195.0m | −₹2.98bn | −₹4.04bn | −₹789.4m | −₹783.3m |
| Net income | −₹1.54bn | −₹360.0m | ₹1.29bn | ₹970.3m | −₹1.10bn | −₹308.4m | −₹4.54bn | −₹5.61bn | −₹4.49bn | −₹2.17bn |
| Diluted earnings per share | -4.63 | -1.09 | 3.85 | 3.25 | -3.90 | -1.05 | -16.27 | -20.18 | -16.09 | -6.54 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ₹6.65bn | ₹9.57bn | ₹10.01bn | ₹12.06bn | ₹19.43bn | ₹22.65bn | ₹40.56bn | ₹46.85bn | ₹44.86bn | ₹45.14bn |
| Cash and short-term investments | ₹393.3m | ₹1.97bn | ₹1.27bn | ₹175.8m | ₹687.3m | ₹731.7m | ₹1.44bn | ₹627.4m | ₹671.6m | ₹1.02bn |
| Total liabilities | ₹5.99bn | ₹7.35bn | ₹7.63bn | ₹11.96bn | ₹20.55bn | ₹22.66bn | ₹40.48bn | ₹41.66bn | ₹33.31bn | ₹29.29bn |
| Debt | ₹3.02bn | ₹4.39bn | ₹3.07bn | ₹4.26bn | ₹7.83bn | ₹10.81bn | ₹17.61bn | ₹22.40bn | ₹24.22bn | ₹22.64bn |
| Shareholders' equity | ₹712.7m | ₹2.30bn | ₹2.46bn | ₹173.9m | −₹1.05bn | ₹46.8m | ₹350.1m | ₹4.88bn | ₹10.66bn | ₹15.10bn |
| Shares outstanding | 332m | 332m | 335m | 299m | 282m | 293m | 279m | 278m | 279m | 332m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | ₹243.9m | −₹725.9m | ₹1.80bn | ₹3.00bn | ₹3.46bn | ₹1.89bn | ₹5.74bn | ₹3.75bn | ₹3.43bn | −₹1.78bn |
| Capital spending | −₹12.8m | −₹5.8m | −₹6.1m | −₹2.7m | −₹2.1m | −₹600,000 | −₹300,000 | −₹2.4m | −₹1.8m | −₹12.6m |
| Free cash flow | ₹231.1m | −₹731.7m | ₹1.79bn | ₹3.00bn | ₹3.46bn | ₹1.89bn | ₹5.74bn | ₹3.74bn | ₹3.43bn | −₹1.79bn |
| Dividends paid | — | — | — | — | — | — | — | — | — | −₹67.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ₹263.9m | ₹541.1m | ₹311.3m | ₹429.4m | ₹374.7m | ₹630.9m | ₹1.00bn | ₹607.4m |
| Gross profit | ₹177.8m | ₹334.5m | ₹196.9m | ₹255.7m | ₹258.8m | ₹252.8m | ₹260.8m | ₹352.6m |
| Operating income | −₹2.2m | ₹123.6m | −₹3.0m | ₹76.1m | ₹80.3m | ₹21.2m | ₹14.1m | ₹96.5m |
| Net income | −₹76.4m | −₹1.18bn | −₹119.2m | −₹185.0m | −₹49.7m | −₹282.8m | −₹93.7m | ₹35.2m |
| Diluted earnings per share | -0.23 | -3.56 | -0.36 | -0.56 | -0.15 | -0.85 | -0.28 | 0.11 |
| Cash from operations | — | — | — | ₹58.0m | — | −₹440.0m | — | −₹528.0m |
| Capital spending | — | — | — | −₹2.0m | — | −₹5.0m | — | −₹4.0m |
| Free cash flow | — | — | — | ₹56.0m | — | −₹445.0m | — | −₹532.0m |
| Total assets | — | ₹6.65bn | — | ₹9.29bn | — | ₹9.57bn | — | ₹10.44bn |
| Cash and short-term investments | ₹393.3m | ₹275.4m | ₹1.81bn | ₹1.45bn | ₹1.97bn | ₹1.97bn | ₹818.5m | ₹818.5m |
| Debt | — | ₹2.97bn | — | ₹4.52bn | — | ₹4.41bn | — | ₹4.13bn |
| Shareholders' equity | ₹655.8m | ₹712.7m | ₹1.98bn | ₹2.06bn | ₹2.21bn | ₹2.30bn | ₹2.62bn | ₹2.70bn |
Financial ratios
Data as of 11 Oct 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Gross margin | 65.0% | 42.2% | 35.4% | 14.8% | 24.6% | 1.5% | — | — |
| Operating margin | -61.0% | 11.9% | 29.1% | 16.1% | -7.2% | -7.5% | — | — |
| Net margin | -89.5% | -14.0% | 22.5% | 10.0% | -25.4% | -11.8% | — | — |
| Return on equity | -215.6% | -15.7% | 52.3% | 558.0% | 104.4% | -659.0% | — | — |
| Return on assets | -23.1% | -3.8% | 12.9% | 8.0% | -5.7% | -1.4% | — | — |
| Free cash flow yield | 5.3% | -15.0% | 37.2% | 69.2% | 84.8% | 44.6% | — | — |
| Revenue growth | -33.4% | -54.9% | -41.2% | 124.3% | 66.5% | -45.6% | — | — |
| Earnings growth | 326.8% | -128.0% | 32.7% | -188.2% | 256.5% | -93.2% | — | — |
| Current ratio | 1.24x | 1.11x | 1.03x | 0.89x | 0.81x | 0.84x | — | — |
| Debt to equity | 4.17x | 1.89x | 1.21x | 24.46x | -7.42x | 230.72x | — | — |
| Equity ratio | 10.7% | 24.0% | 24.6% | 1.4% | -5.4% | 0.2% | — | — |
| Interest coverage | -2.23x | 0.65x | 4.36x | 2.61x | -0.39x | -0.16x | — | — |
| R&D as a share of sales | — | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Buybacks as a share of market value | 0.0% | 0.9% | -12.0% | -6.1% | 3.7% | -4.8% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -43.9% | -8.0% | 4.2% |
| Operating income | -40.1% | — | — |
| Net income | — | 37.9% | 12.7% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 51.3% | 28.7% | 25.4% | 4.1% |
| Operating margin | 11.6% | 19.7% | 15.1% | -11.6% |
| Net margin | -44.2% | 1.8% | -3.9% | -42.2% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -3.1 | -23.4 | 11.0 | 15.3 | -3.3 | -14.7 | -0.4 | -0.2 | -0.7 | -5.1 |
| Price to sales | 2.8 | 3.3 | 2.5 | 1.5 | 0.8 | 1.7 | 0.3 | 0.3 | 0.6 | 4.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 28 Jul 2016.
| FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 | FY2010 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.20 | 0.30 | 0.40 | 1.50 | 1.10 | 1.70 | 1.50 | 0.90 |
- 5-for-1 split · 16 Oct 2007
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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