Consolidated net sales reached Rs 695.91 crore in June 2026, up 28.4% Y-o-Y from Rs 541.97 crore. Net profit was Rs 108.86 crore, up 4.48% Y-o-Y from Rs 104.19 crore. EBITDA at Rs 179.49 crore, up 7.43% Y-o-Y. EPS rose to Rs 10.50 from Rs 10.05. Shares closed at Rs 1,304.60 on July 30, 2026 (NSE).

Reported 28% YoY revenue growth with EBITDA margin at 24.5% (down 500bp YoY) and EBITDA up 7% YoY to INR1.7b. Growth outlook from ATBS expansions (Phase II in Oct'26), BP and IBB demand. FY26-28 CAGRs: 18% revenue, 15% EBITDA, 13% PAT. Trades at 23.8x FY28E EPS (INR54.9), 15.4x EV/EBITDA; TP Rs1550 at 28x FY28E EPS. Reiterate BUY.