Z 
136.86
+3.94%
Close of 9 Nov 2026, in INR
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At a glance
Figures in INR, from our data supplier.
Revenue
₹3.69bn
FY2017FY2026
Net income
₹58.4m
FY2017FY2026
Free cash flow
−₹75.7m
FY2017FY2026
Shareholders' equity
₹2.96bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹3.69bn | ₹3.74bn | ₹3.68bn | ₹3.99bn | ₹3.31bn | ₹3.07bn | ₹2.61bn | ₹3.26bn | ₹2.66bn | ₹2.30bn |
| Research and development | ₹199.4m | ₹217.2m | ₹196.0m | ₹187.4m | ₹168.7m | ₹138.7m | ₹145.2m | ₹153.1m | ₹93.7m | ₹38.1m |
| Operating income | ₹188.7m | ₹200.5m | ₹304.4m | ₹363.2m | ₹224.6m | ₹247.2m | ₹102.0m | ₹315.6m | ₹274.3m | ₹238.1m |
| Net income | ₹58.4m | ₹121.7m | ₹172.5m | ₹244.3m | ₹145.5m | ₹73.2m | ₹33.0m | ₹153.4m | ₹191.1m | ₹185.9m |
| Diluted earnings per share | 1.09 | 2.50 | 3.53 | 5.00 | 2.98 | 1.51 | 0.68 | 3.16 | 3.93 | 3.82 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ₹5.39bn | ₹4.72bn | ₹4.47bn | ₹3.42bn | ₹3.42bn | ₹3.25bn | ₹3.25bn | ₹3.28bn | ₹2.98bn | ₹2.59bn |
| Cash and short-term investments | ₹278.0m | ₹20.4m | ₹96.4m | ₹64.7m | ₹34.2m | ₹13.9m | ₹14.6m | ₹5.0m | ₹14.7m | ₹4.2m |
| Total liabilities | ₹2.43bn | ₹2.20bn | ₹2.08bn | ₹1.41bn | ₹1.66bn | ₹1.64bn | ₹1.71bn | ₹1.77bn | ₹1.62bn | ₹1.41bn |
| Debt | ₹1.26bn | ₹1.18bn | ₹1.12bn | ₹620.0m | ₹533.1m | ₹823.2m | ₹919.5m | ₹772.0m | ₹811.5m | ₹805.6m |
| Shareholders' equity | ₹2.96bn | ₹2.52bn | ₹2.39bn | ₹2.00bn | ₹1.76bn | ₹1.61bn | ₹1.54bn | ₹1.51bn | ₹1.37bn | ₹1.18bn |
| Shares outstanding | 54m | 49m | 49m | 49m | 49m | 48m | 48m | 49m | 49m | 49m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | ₹368.1m | ₹411.5m | ₹162.8m | ₹375.2m | ₹492.1m | ₹318.5m | ₹219.2m | ₹348.7m | ₹366.1m | ₹320.7m |
| Capital spending | −₹443.9m | −₹408.0m | −₹739.2m | −₹366.7m | −₹152.3m | −₹64.8m | −₹185.3m | −₹203.7m | −₹285.2m | −₹88.8m |
| Free cash flow | −₹75.7m | ₹3.6m | −₹576.4m | ₹8.5m | ₹339.8m | ₹253.7m | ₹33.9m | ₹144.9m | ₹81.0m | ₹232.0m |
| Dividends paid | −₹555,000 | −₹569,000 | −₹493,000 | −₹585,000 | −₹1.7m | −₹244,000 | −₹7.4m | −₹7.7m | −₹7.4m | −₹7.3m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ₹941.8m | ₹1.05bn | ₹1.09bn | ₹887.1m | ₹717.6m | ₹1.09bn | ₹963.3m | ₹921.4m |
| Operating income | −₹29.2m | ₹20.9m | ₹77.7m | ₹7.7m | −₹6.0m | ₹93.1m | ₹66.8m | ₹45.3m |
| Net income | −₹40.2m | ₹37.4m | ₹44.0m | −₹4.2m | −₹18.7m | ₹48.8m | ₹40.0m | ₹23.8m |
| Diluted earnings per share | -0.75 | 0.70 | 0.90 | -0.09 | -0.38 | 1.00 | 0.82 | 0.49 |
| Cash from operations | — | — | — | ₹199.0m | — | — | — | — |
| Capital spending | — | — | — | −₹158.0m | — | — | — | — |
| Free cash flow | — | — | — | ₹41.0m | — | — | — | — |
| Total assets | — | ₹5.39bn | — | ₹4.70bn | — | ₹4.72bn | — | ₹4.27bn |
| Cash and short-term investments | ₹402.5m | ₹278.0m | ₹46.3m | ₹50.1m | ₹20.4m | ₹20.4m | ₹58.1m | ₹60.2m |
| Debt | — | ₹1.26bn | — | ₹1.21bn | — | ₹1.16bn | — | ₹1.01bn |
| Shareholders' equity | ₹2.96bn | ₹2.96bn | ₹2.51bn | ₹2.51bn | ₹2.52bn | ₹2.52bn | ₹2.43bn | ₹2.43bn |
Financial ratios
Data as of 22 Oct 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating margin | 1.5% | 7.9% | 8.0% | 10.2% | 8.8% | 6.4% |
| Net margin | 1.6% | 3.3% | 4.7% | 6.1% | 4.4% | 2.4% |
| Return on equity | 2.0% | 4.8% | 7.2% | 12.2% | 8.3% | 4.6% |
| Return on assets | 1.1% | 2.6% | 3.9% | 7.2% | 4.3% | 2.3% |
| Free cash flow yield | 11.5% | 12.7% | 14.0% | 11.5% | 10.0% | 6.0% |
| Revenue growth | -1.3% | 1.8% | -7.8% | 20.5% | 7.6% | 17.7% |
| Earnings growth | -52.0% | -29.5% | -29.4% | 67.9% | 98.8% | 122.0% |
| Current ratio | 1.45x | 1.39x | 1.43x | 1.72x | 1.45x | 1.35x |
| Debt to equity | 0.42x | 0.46x | 0.46x | 0.30x | 0.30x | 0.51x |
| Equity ratio | 54.9% | 53.4% | 53.4% | 58.7% | 51.4% | 49.5% |
| Interest coverage | 0.44x | 2.58x | 4.26x | 7.31x | 3.57x | 1.82x |
| R&D as a share of sales | 5.4% | 5.8% | 5.3% | 4.7% | 5.1% | 4.5% |
| Buybacks as a share of market value | -9.9% | 0.1% | 0.1% | 0.1% | -0.8% | -0.1% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -2.5% | 3.7% | 3.4% |
| Operating income | -19.6% | -5.3% | -1.4% |
| Net income | -37.9% | -4.4% | 1.4% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 5.2% | 7.0% | 7.1% | 7.7% |
| Net margin | 2.4% | 4.0% | 3.8% | 4.1% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Price to earnings | 125.6 | 28.9 | 30.4 | 23.1 | 32.7 |
| Price to sales | 2.0 | 0.9 | 1.4 | 1.4 | 1.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 19 Sept 2019.
| FY2020 | FY2019 | |
|---|---|---|
| Paid in the year | 0.50 | 0.50 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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