In ₹ Crore except Per Share 12 Months Ending | FY23 31/03/2023 | FY24 31/03/2024 | FY25 31/03/2025 | Last 12M 31/12/2025 | |
|---|---|---|---|---|---|
| Adjustments to Reconcile Profit — Non-cash Items | |||||
| + Depreciation & Amortisation | 58.0 | 66.0 | 70.3 | — | |
| + Finance Costs | 183.0 | 141.9 | 113.1 | — | |
| + Interest Income | -8.6 | -10.3 | 0.0 | — | |
| + Dividend Income | -0.0 | -0.0 | 0.0 | — | |
| + Fair Value (Gains) / Losses | 0.7 | 0.0 | 0.0 | — | |
| + Other Non-cash Items | -5.4 | -3.9 | -5.4 | — | |
| + Other Reconciling Items | 0.0 | 0.0 | 0.0 | — | |
| Changes in Working Capital | |||||
| + Inventories | 0.7 | -20.8 | -27.7 | — | |
| + Trade Receivables — Current | -0.5 | -2.0 | -2.6 | — | |
| + Other Financial Assets — Current | 1.6 | 3.8 | 0.0 | — | |
| + Other Financial Assets — Non-current | 0.0 | 0.0 | -41.5 | — | |
| + Other Current Assets | 0.0 | 7.1 | 1.8 | — | |
| + Other Non-current Assets | -44.6 | 15.6 | 58.2 | — | |
| + Trade Payables — Current | -7.3 | 2.0 | -2.3 | — | |
| + Other Financial Liabilities — Current | 1.7 | 20.7 | 0.0 | — | |
| + Other Financial Liabilities — Non-current | 0.0 | 0.0 | -18.5 | — | |
| + Other Current Liabilities | 1.4 | -7.5 | -2.0 | — | |
| + Provisions — Current | 0.7 | 1.2 | -2.2 | — | |
| Cash from Operating Activities | |||||
| Profit Before Tax (per I/S) | 273.9 | 391.9 | 460.8 | 543.0 | |
| + Total Adjustments (incl. Working Capital) | 181.4 | 214.0 | 141.3 | — | |
| Cash from Operations (pre-tax) | 455.3 | 605.9 | 602.1 | — | |
| + Interest Received — Operating | 0.0 | 0.0 | -15.1 | — | |
| + Dividends Received — Operating | 0.0 | 0.0 | -0.0 | — | |
| + Income Taxes Paid | 19.2 | 22.8 | 47.2 | — | |
| Cash from Operating Activities | 436.2 | 583.1 | 539.9 | — | |
| Cash from Investing Activities | |||||
| + Acq of Fixed Assets (Capex) | 112.8 | 243.1 | 32.8 | — | |
| + Disp of Fixed Assets | 0.1 | 0.1 | 0.0 | — | |
| + Acq of Other Long-term Assets | 43.2 | 0.0 | 0.0 | — | |
| + Purchase of Investments (Equity / Debt) | 0.0 | 3.0 | 0.0 | — | |
| + Sale of Investments (Equity / Debt) | 110.3 | 0.0 | 0.0 | — | |
| + Dividends Received — Investing | 0.0 | 0.0 | 0.0 | — | |
| + Interest Received — Investing | 5.2 | 13.9 | 14.6 | — | |
| + Other Inflows / (Outflows) — Investing | 0.2 | -12.4 | -26.6 | — | |
| Cash from Investing Activities | -40.3 | -244.5 | -44.8 | — | |
| Cash from Financing Activities | |||||
| + Payments — Change in Ownership of Subsidiaries | 81.0 | 0.0 | 0.0 | — | |
| + Repayment of Borrowings | 34.0 | 183.7 | 369.9 | — | |
| + Payment of Lease Liabilities | 1.3 | 0.0 | 0.0 | — | |
| + Interest Paid | 235.2 | 146.9 | 108.0 | — | |
| + Dividends Paid | 3.0 | 6.1 | 8.2 | — | |
| + Other Inflows / (Outflows) — Financing | 0.0 | -1.3 | -0.8 | — | |
| Cash from Financing Activities | -354.5 | -338.0 | -486.9 | — | |
| Net Changes in Cash (pre-FX) | 41.4 | 0.6 | 8.2 | — | |
| Net Changes in Cash | 41.4 | 0.6 | 8.2 | — | |
| Closing Cash | 49.6 | 50.2 | — | — | |
| Reference Items | |||||
| EBITDA | 498.2 | 580.6 | 619.4 | 669.8 | |
| EBITDA Margin % | 65.62 | 59.90 | 74.01 | 75.57 | |
| Free Cash Flow (CFO − Capex) | 323.3 | 340.0 | 507.1 | 507.1 | |
| Free Cash Flow to Equity | — | 9.4 | 34.4 | — | |
| Free Cash Flow per Basic Share | 85.84 | 90.27 | 134.62 | 134.62 | |
| Price to Free Cash Flow | — | — | — | 4.03 | |
| Cash Flow to Net Income | 1.70 | 1.92 | 1.60 | — | |
| Cash Paid for Taxes | 19.2 | 22.8 | 47.2 | — | |
| Cash Paid for Interest | 235.2 | 146.9 | 108.0 | — | |