W 
189.17
-0.35%
Close of 9 Nov 2026, in INR
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At a glance
Figures in INR, from our data supplier.
Revenue
₹2.75bn
FY2017FY2026
Net income
−₹146.8m
FY2017FY2026
Free cash flow
−₹670.8m
FY2017FY2026
Shareholders' equity
₹3.59bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹2.75bn | ₹2.95bn | ₹3.02bn | ₹3.22bn | ₹2.96bn | ₹3.26bn | ₹2.98bn | ₹3.64bn | ₹3.98bn | ₹3.98bn |
| Research and development | — | — | — | — | ₹389,000 | ₹3.8m | — | — | — | ₹598,000 |
| Operating income | ₹33.9m | ₹605.0m | ₹163.3m | ₹373.7m | ₹1.1m | ₹468.5m | ₹595.9m | ₹898.1m | ₹426.8m | ₹147.0m |
| Net income | −₹146.8m | −₹860.3m | −₹418.3m | ₹195.8m | −₹380.7m | −₹572.4m | −₹654.6m | −₹21.4m | −₹258.2m | −₹795.2m |
| Diluted earnings per share | -2.16 | -12.55 | -7.55 | 4.25 | -8.29 | -15.05 | -17.15 | -0.56 | -6.72 | -20.85 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ₹8.81bn | ₹8.72bn | ₹8.76bn | ₹8.28bn | ₹9.34bn | ₹9.58bn | ₹10.46bn | ₹11.66bn | ₹11.55bn | ₹13.22bn |
| Cash and short-term investments | ₹751.0m | ₹1.09bn | ₹603.3m | ₹56.1m | ₹62.6m | ₹71.6m | ₹71.3m | ₹324.1m | ₹119.4m | ₹190.3m |
| Total liabilities | ₹5.23bn | ₹4.99bn | ₹5.14bn | ₹5.67bn | ₹7.57bn | ₹7.46bn | ₹7.77bn | ₹8.31bn | ₹8.16bn | ₹8.45bn |
| Debt | ₹2.19bn | ₹1.94bn | ₹2.41bn | ₹2.93bn | ₹4.48bn | ₹4.11bn | ₹4.05bn | ₹4.54bn | ₹4.34bn | ₹4.14bn |
| Shareholders' equity | ₹3.59bn | ₹3.73bn | ₹3.61bn | ₹2.61bn | ₹1.77bn | ₹2.12bn | ₹2.69bn | ₹3.35bn | ₹3.39bn | ₹4.77bn |
| Shares outstanding | 68m | 69m | 55m | 46m | 46m | 38m | 38m | 38m | 38m | 38m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −₹419.7m | ₹156.2m | ₹107.5m | ₹761.3m | ₹283.5m | ₹711.7m | ₹585.5m | ₹1.46bn | ₹498.3m | ₹625.5m |
| Capital spending | −₹251.1m | −₹346.5m | −₹17.2m | −₹15.7m | −₹30.9m | −₹66.6m | −₹150.7m | −₹122.4m | −₹75.4m | −₹34.2m |
| Free cash flow | −₹670.8m | −₹190.3m | ₹90.3m | ₹745.6m | ₹252.6m | ₹645.1m | ₹434.8m | ₹1.34bn | ₹422.9m | ₹591.3m |
| Dividends paid | — | — | — | — | — | — | — | — | — | −₹1.8m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ₹908.3m | ₹930.2m | ₹809.5m | ₹517.8m | ₹494.3m | ₹560.0m | ₹590.7m | ₹678.6m |
| Operating income | ₹42.3m | ₹13.8m | ₹142.0m | −₹58.1m | −₹50.5m | ₹79.8m | −₹83.6m | −₹87.6m |
| Net income | ₹11.8m | ₹29.4m | ₹46.6m | −₹119.0m | −₹103.9m | −₹561.2m | −₹171.3m | −₹110.3m |
| Diluted earnings per share | 0.17 | 0.43 | 0.68 | -1.74 | -1.52 | -8.19 | -3.09 | -1.99 |
| Cash from operations | — | — | — | ₹121.0m | — | ₹156.0m | — | ₹63.0m |
| Capital spending | — | — | — | −₹51.0m | — | −₹346.0m | — | −₹161.0m |
| Free cash flow | — | — | — | ₹70.0m | — | −₹190.0m | — | −₹98.0m |
| Total assets | — | ₹8.81bn | — | ₹8.65bn | — | ₹8.72bn | — | ₹8.80bn |
| Cash and short-term investments | ₹223.6m | ₹751.0m | ₹1.04bn | ₹2.15bn | ₹554.1m | ₹1.09bn | ₹1.25bn | ₹2.26bn |
| Debt | — | ₹2.19bn | — | ₹1.94bn | — | ₹1.94bn | — | ₹2.69bn |
| Shareholders' equity | ₹3.59bn | ₹3.59bn | ₹3.48bn | ₹3.48bn | ₹3.73bn | ₹3.73bn | ₹3.50bn | ₹3.50bn |
Financial ratios
Data as of 3 Oct 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2017 | FY2016 | FY2011 | |
|---|---|---|---|---|---|---|---|---|---|
| Operating margin | 1.2% | 20.5% | 5.4% | 11.6% | 0.0% | 14.4% | — | — | — |
| Net margin | -5.3% | -29.2% | -13.8% | 6.1% | -12.9% | -17.6% | — | — | — |
| Return on equity | -4.1% | -23.1% | -11.6% | 7.5% | -21.5% | -27.0% | — | — | — |
| Return on assets | -1.7% | -9.9% | -4.8% | 2.4% | -4.1% | -6.0% | — | — | — |
| Free cash flow yield | -1.3% | 3.7% | 1.1% | 8.6% | 3.5% | 10.4% | — | — | — |
| Revenue growth | -6.7% | -2.5% | -6.1% | 8.9% | -9.2% | 9.3% | — | — | — |
| Earnings growth | -82.9% | 105.7% | -313.6% | -151.4% | -33.5% | -12.6% | — | — | — |
| Current ratio | 1.08x | 1.28x | 1.25x | 1.12x | 1.16x | 1.07x | — | — | — |
| Debt to equity | 0.61x | 0.52x | 0.67x | 1.12x | 2.53x | 1.94x | — | — | — |
| Equity ratio | 40.7% | 42.8% | 41.3% | 31.5% | 19.0% | 22.1% | — | — | — |
| Interest coverage | 0.09x | 1.38x | 0.33x | 0.68x | 0.00x | 0.59x | — | — | — |
| R&D as a share of sales | — | — | — | — | 0.0% | 0.1% | 0.0% | 0.0% | 0.0% |
| Buybacks as a share of market value | 1.0% | -23.6% | -20.3% | -0.3% | -20.7% | 0.3% | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -5.1% | -3.3% | -6.4% |
| Operating income | -55.1% | -40.9% | -20.0% |
| Net income | — | -23.8% | -14.7% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 11.2% | 9.8% | 9.1% | 10.6% |
| Net margin | -17.7% | -10.3% | -12.0% | -12.2% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -88.3 | -15.1 | -38.2 | 44.4 | -8.2 | -3.6 | -4.1 | -103.7 | -14.6 | -10.8 |
| Price to sales | 4.7 | 4.4 | 5.3 | 2.7 | 1.1 | 0.6 | 0.9 | 0.6 | 0.9 | 2.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 5 Feb 2015.
| FY2015 | FY2014 | FY2013 | FY2012 | FY2011 | FY2010 | FY2009 | FY2008 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.40 | 0.40 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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