T 
418.90
+0.41%
Close of 9 Nov 2026, in INR
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At a glance
Figures in INR, from our data supplier.
Revenue
₹11.03bn
FY2017FY2026
Net income
−₹9.09bn
FY2017FY2026
Free cash flow
−₹3.49bn
FY2017FY2026
Shareholders' equity
₹29.31bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹11.03bn | ₹89.23bn | ₹24.71bn | ₹9.22bn | ₹5.53bn | ₹5.28bn | ₹3.96bn | ₹9.00bn | ₹7.50bn | ₹8.75bn |
| Gross profit | −₹2.91bn | ₹23.81bn | ₹8.78bn | ₹3.62bn | ₹2.42bn | ₹2.57bn | ₹1.90bn | ₹4.37bn | ₹3.67bn | ₹3.61bn |
| Research and development | — | ₹1.66bn | ₹749.4m | ₹798.8m | ₹494.6m | ₹292.2m | ₹1.26bn | ₹918.1m | ₹855.6m | ₹823.7m |
| Operating income | −₹9.67bn | ₹9.50bn | ₹4.21bn | ₹739.4m | −₹321.1m | ₹943.9m | −₹715.1m | ₹2.07bn | ₹1.82bn | ₹791.1m |
| Net income | −₹9.09bn | ₹4.47bn | ₹629.8m | −₹364.1m | −₹627.1m | ₹375.4m | −₹2.37bn | ₹1.47bn | ₹1.07bn | ₹929.8m |
| Diluted earnings per share | -51.10 | 24.85 | 3.51 | -2.14 | -4.11 | 3.29 | -24.99 | 15.98 | 11.05 | 9.75 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ₹94.03bn | ₹104.62bn | ₹82.03bn | ₹36.02bn | ₹21.10bn | ₹13.12bn | ₹12.41bn | ₹15.85bn | ₹13.30bn | ₹9.16bn |
| Cash and short-term investments | ₹5.05bn | ₹8.22bn | ₹8.46bn | ₹13.05bn | ₹10.98bn | ₹3.47bn | ₹2.73bn | ₹3.70bn | ₹5.13bn | ₹709.4m |
| Total liabilities | ₹64.72bn | ₹66.16bn | ₹50.53bn | ₹6.29bn | ₹1.80bn | ₹1.78bn | ₹1.60bn | ₹2.65bn | ₹1.78bn | ₹4.16bn |
| Debt | ₹41.77bn | ₹34.07bn | ₹18.84bn | ₹498.2m | ₹197.6m | ₹219.0m | ₹278.8m | ₹11.9m | ₹22.7m | ₹2.55bn |
| Shareholders' equity | ₹29.31bn | ₹38.46bn | ₹31.49bn | ₹29.73bn | ₹19.30bn | ₹11.34bn | ₹10.81bn | ₹13.20bn | ₹11.52bn | ₹5.01bn |
| Shares outstanding | 178m | 180m | 180m | 170m | 152m | 114m | 95m | 92m | 96m | 95m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −₹1.74bn | −₹4.91bn | −₹20.36bn | −₹3.80bn | −₹173.3m | ₹1.58bn | ₹6.1m | −₹815.9m | ₹2.39bn | ₹829.0m |
| Capital spending | −₹1.75bn | −₹3.24bn | −₹4.08bn | −₹2.49bn | −₹1.17bn | −₹825.2m | −₹927.7m | −₹803.2m | −₹681.0m | −₹515.0m |
| Free cash flow | −₹3.49bn | −₹8.15bn | −₹24.45bn | −₹6.29bn | −₹1.35bn | ₹751.3m | −₹921.6m | −₹1.62bn | ₹1.71bn | ₹314.0m |
| Dividends paid | −₹441.5m | — | — | — | — | — | −₹110.8m | −₹110.8m | −₹91.9m | −₹91.9m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ₹4.02bn | ₹3.33bn | ₹3.07bn | ₹2.62bn | ₹2.02bn | ₹19.07bn | ₹26.42bn | ₹28.11bn |
| Gross profit | −₹515.1m | −₹490.8m | −₹795.3m | −₹577.6m | ₹856.7m | ₹4.15bn | ₹6.86bn | ₹8.41bn |
| Operating income | −₹1.95bn | −₹1.70bn | −₹2.31bn | −₹3.95bn | −₹2.23bn | ₹958.1m | ₹5.49bn | ₹7.23bn |
| Net income | −₹2.02bn | −₹2.11bn | −₹1.97bn | −₹3.07bn | −₹1.94bn | −₹718.0m | ₹1.66bn | ₹2.75bn |
| Diluted earnings per share | -11.37 | -11.88 | -10.94 | -17.09 | -10.79 | -4.00 | 9.22 | 15.31 |
| Cash from operations | — | — | — | −₹5.10bn | — | −₹4.91bn | — | −₹6.82bn |
| Capital spending | — | — | — | −₹1.16bn | — | −₹6.51bn | — | −₹3.09bn |
| Free cash flow | — | — | — | −₹6.26bn | — | −₹11.43bn | — | −₹9.90bn |
| Total assets | — | ₹94.03bn | — | ₹98.81bn | — | ₹104.62bn | — | ₹102.15bn |
| Cash and short-term investments | ₹4.69bn | ₹5.05bn | ₹4.12bn | ₹4.12bn | ₹8.16bn | ₹8.22bn | ₹5.78bn | ₹5.78bn |
| Debt | — | ₹40.66bn | — | ₹42.96bn | — | ₹34.07bn | — | ₹29.11bn |
| Shareholders' equity | ₹29.31bn | ₹29.31bn | ₹33.21bn | ₹33.21bn | ₹38.46bn | ₹38.46bn | ₹37.20bn | ₹37.20bn |
Financial ratios
Data as of 12 Sept 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Gross margin | -26.4% | 26.7% | 35.5% | 39.2% | 43.8% | 48.7% | — |
| Operating margin | -87.6% | 10.6% | 17.0% | 8.0% | -5.8% | 17.9% | — |
| Net margin | -82.4% | 5.0% | 2.5% | -4.0% | -11.3% | 7.1% | — |
| Return on equity | -31.0% | 11.6% | 2.0% | -1.2% | -3.2% | 3.3% | — |
| Return on assets | -9.7% | 4.3% | 0.8% | -1.0% | -3.0% | 2.9% | — |
| Free cash flow yield | 0.0% | -1.7% | -16.4% | -1.4% | 1.2% | 3.8% | — |
| Revenue growth | -87.6% | 261.1% | 168.1% | 66.6% | 4.8% | 33.2% | — |
| Earnings growth | -303.5% | 609.0% | -273.0% | -41.9% | -267.0% | -115.8% | — |
| Current ratio | 1.20x | 1.35x | 1.43x | 6.26x | 10.45x | 6.07x | — |
| Debt to equity | 1.39x | 0.85x | 0.56x | 0.00x | 0.00x | 0.00x | — |
| Equity ratio | 31.2% | 36.8% | 38.4% | 82.5% | 91.5% | 86.5% | — |
| Interest coverage | -3.19x | 4.56x | 17.88x | 4.86x | -32.77x | 83.53x | — |
| R&D as a share of sales | — | 1.9% | 3.0% | 8.7% | 8.9% | 5.5% | 31.9% |
| Buybacks as a share of market value | 1.0% | 0.0% | -5.7% | -11.5% | -33.7% | -20.1% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 6.2% | 15.9% | 5.8% |
| Net income | 192.3% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 20.8% | 24.8% | 26.4% | 30.3% |
| Operating margin | -0.2% | 3.6% | 3.7% | 6.0% |
| Net margin | -4.6% | -3.2% | -3.2% | -1.8% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -8.3 | 18.1 | 338.3 | -406.0 | -140.6 | 127.2 | -5.5 | 6.0 | 18.8 | 40.5 |
| Price to sales | 6.9 | 0.9 | 8.6 | 16.0 | 15.9 | 9.1 | 3.3 | 1.0 | 2.7 | 4.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 1 years. Last went ex-dividend on 19 Jun 2025.
| FY2026 | FY2020 | |
|---|---|---|
| Paid in the year | 2.50 | 1.00 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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