Letter to shareholders in relation to Integrated Annual Report of the Company for the financial year 2025-26
Please find enclosed the Business Responsibility and Sustainability Report for the financial year 2025-26.
Please find enclosed the Notice convening the 80th Annual General Meeting of the Company and the Integrated Annual Report of the Company, including the Business Responsibility and Sustainability Report, for the financial year 2025-26.
Please find enclosed herewith the Notice of 80th Annual General Meeting and Integrated Annual Report for the financial year 2025-26.
Pursuant to Regulation 30 of the Listing Regulations, we hereby enclose copies of the Notice issued for attention of the shareholders in respect of information regarding 80th Annual General Meeting of the Company scheduled to be held on Thursday, 9th July 2026 through video conference/other audio visual means, in compliance with the General Circular No. 03/2025 dated 22nd September 2025 issued by the Ministry of Corporate Affairs (MCA), read with earlier Circulars issued by MCA in this regard. The notice was published in the newspapers today i.e., 9th June 2026.
Find enclosed the transcript of the investor conference held on 29th May 2026
Find enclosed the secretarial compliance report for the financial year ended 31st March 2026.
Find enclosed communication with respect to the audio recording of the investor conference held today, 29th May 2026.
This is to inform you that based on the recommendation of the Nomination and Remuneration Committee, the Board have unanimously approved the re-appointment of Mr. Milind Sarwate as an Independent Director for a second term of five years commencing from 21st October 2026 to 20th October 2031, subject to approval of shareholders.
Find enclosed the investor presentation on the financial results of the Company
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from Operations | 8,113.96 | 7,342.22 | 7,913.01 | 7,480.93 | 7,881.62 | 6,868.37 | 7,320.53 | 7,192.41 | 7,868.45 | 7,356.29 | 7,624.50 | 7,920.24 |
| YOY Revenue Growth % | 6.96% | -0.03% | 5.2% | -1.9% | -2.86% | -6.45% | -7.49% | -3.86% | -0.17% | 7.1% | 4.15% | 10.12% |
| Other Income | 216.77 | 172.30 | 238.07 | 197.42 | 225.55 | 181.56 | 226.45 | 138.04 | 247.67 | 231.96 | 257.79 | 195.31 |
| Total Income | 8,330.73 | 7,514.52 | 8,151.08 | 7,678.35 | 8,107.17 | 7,049.93 | 7,546.98 | 7,330.45 | 8,116.12 | 7,588.25 | 7,882.29 | 8,115.55 |
| Total Expenses + | 6,312.58 | 5,963.89 | 6,236.89 | 6,156.28 | 6,514.74 | 5,992.54 | 6,066.28 | 6,171.64 | 6,647.95 | 6,300.34 | 6,300.87 | 6,556.80 |
| Cost of Materials Consumed | 3,481.71 | 3,337.61 | 3,206.29 | 3,392.47 | 3,508.94 | 3,439.05 | 3,044.46 | 3,208.04 | 3,374.25 | 3,063.74 | 2,956.79 | 3,276.01 |
| Employee Benefit Expense | 404.61 | 449.52 | 427.91 | 465.85 | 514.48 | 511.39 | 447.58 | 481.06 | 554.49 | 533.41 | 532.54 | 556.24 |
| Other Expenses | 1,131.32 | 1,204.39 | 1,188.60 | 1,328.14 | 1,289.79 | 1,208.01 | 1,222.54 | 1,446.33 | 1,333.70 | 1,334.30 | 1,279.60 | 1,401.56 |
| Operating Profit | 1,801.38 | 1,378.33 | 1,676.12 | 1,324.65 | 1,366.88 | 875.83 | 1,254.25 | 1,020.77 | 1,220.50 | 1,055.95 | 1,323.63 | 1,363.44 |
| OPM % | 22.2% | 18.8% | 21.2% | 17.7% | 17.3% | 12.8% | 17.1% | 14.2% | 15.5% | 14.4% | 17.4% | 17.2% |
| Profit Before Tax + | 2,018.15 | 1,550.63 | 1,914.19 | 1,522.07 | 1,592.43 | 857.57 | 1,480.70 | 979.00 | 1,468.17 | 1,287.91 | 1,414.89 | 1,558.75 |
| Tax Expense | 509.78 | 390.38 | 470.65 | 312.68 | 400.03 | 255.26 | 372.11 | 284.72 | 368.54 | 332.35 | 389.55 | 398.01 |
| Tax % | 25.3% | 25.2% | 24.6% | 20.5% | 25.1% | 29.8% | 25.1% | 29.1% | 25.1% | 25.8% | 27.5% | 25.5% |
| Profit After Tax | 1,508.37 | 1,160.25 | 1,443.54 | 1,209.39 | 1,192.40 | 602.31 | 1,108.59 | 694.28 | 1,099.63 | 955.56 | 1,025.34 | 1,160.74 |
| EPS (Basic) | 15.73 | 12.10 | 15.06 | 12.61 | 12.44 | 6.28 | 11.56 | 7.24 | 11.47 | 9.97 | 10.70 | 12.11 |
| Particulars | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 |
|---|---|---|---|---|---|---|---|
| Revenue from Operations | 30,769.48 | 29,552.65 | 30,850.12 | 30,078.40 | 25,188.51 | 18,516.86 | 17,194.09 |
| YOY Revenue Growth % | 4.12% | -4.21% | 2.57% | 19.41% | 36.03% | 7.69% | - |
| Other Income | 932.66 | 770.15 | 824.56 | 518.01 | 451.89 | 366.32 | 357.54 |
| Total Income | 31,702.14 | 30,322.80 | 31,674.68 | 30,596.41 | 25,640.40 | 18,883.18 | 17,551.63 |
| Total Expenses + | 25,802.01 | 25,045.99 | 24,669.64 | 25,106.81 | 21,392.53 | 14,792.80 | 12,263.38 |
| Cost of Materials Consumed | 12,670.79 | 13,238.32 | 13,418.08 | 14,790.95 | 13,838.90 | 8,524.17 | 8,432.51 |
| Employee Benefit Expense | 2,176.68 | 2,013.58 | 1,747.89 | 1,513.89 | 1,310.14 | 1,128.66 | 985.43 |
| Other Expenses | 5,344.61 | 5,194.95 | 4,852.45 | 4,416.49 | 3,681.62 | 2,812.48 | 2,845.44 |
| Operating Profit | 4,967.47 | 4,506.66 | 6,180.48 | 4,971.59 | 3,795.98 | 3,724.06 | 4,930.71 |
| OPM % | 16.1% | 15.2% | 20% | 16.5% | 15.1% | 20.1% | 28.7% |
| Profit Before Exceptional | 5,900.13 | 5,276.81 | 7,005.04 | 5,489.60 | 4,247.87 | 4,090.38 | 3,446.23 |
| Exceptional Items | -166.53 | -379.63 | 0.00 | 0.00 | -53.73 | 0.00 | -33.20 |
| Profit Before Tax + | 5,733.60 | 4,897.18 | 7,005.04 | 5,489.60 | 4,194.14 | 4,090.38 | 3,413.03 |
| Tax Expense | 1,489.43 | 1,312.30 | 1,683.49 | 1,389.42 | 1,059.43 | 1,037.87 | 759.08 |
| Tax % | 26% | 26.8% | 24% | 25.3% | 25.3% | 25.4% | 22.2% |
| Profit After Tax | 4,244.17 | 3,584.88 | 5,321.55 | 4,100.18 | 3,134.71 | 3,052.51 | 2,653.95 |
| EPS (Basic) | 44.27 | 37.39 | 55.50 | 42.76 | 32.68 | 31.82 | 27.67 |
| Particulars | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 |
|---|---|---|---|---|---|---|---|
| ASSETS | |||||||
| Non-Current Assets + | 12,828.03 | 12,365.17 | 11,428.69 | 8,654.11 | 7,160.41 | 7,493.29 | 0.00 |
| Property, Plant & Equipment | 7,623.62 | 7,797.62 | 5,269.23 | 4,568.52 | 4,475.83 | 4,525.73 | 0.00 |
| Capital Work in Progress | 1,754.12 | 386.15 | 2,560.93 | 978.04 | 225.47 | 110.11 | 0.00 |
| Non-Current Investments | 1,349.08 | 2,929.84 | 2,609.11 | 2,314.28 | 1,646.25 | 2,161.94 | 0.00 |
| Goodwill | 47.27 | 47.27 | 35.36 | 35.36 | 35.36 | 35.36 | 0.00 |
| Other Intangible Assets | 71.36 | 85.78 | 55.67 | 38.81 | 42.75 | 41.52 | 0.00 |
| Current Assets + | 17,256.23 | 14,287.94 | 14,553.21 | 13,875.73 | 12,747.92 | 10,089.38 | 0.00 |
| Inventories | 4,824.74 | 5,848.23 | 5,074.76 | 5,321.79 | 5,277.61 | 3,124.61 | 0.00 |
| Trade Receivables | 3,227.71 | 3,197.55 | 3,633.45 | 3,462.61 | 2,915.77 | 1,809.75 | 0.00 |
| Cash and Cash Equivalents | 395.38 | 176.19 | 325.96 | 156.44 | 276.04 | 113.27 | 0.00 |
| Current Investments | 1,000.00 | 1,000.00 | 1,000.00 | 1,000.00 | 1,000.00 | 1,000.00 | 0.00 |
| LIABILITIES & EQUITY | |||||||
| Total Equity | 20,781.56 | 18,983.48 | 18,425.09 | 15,585.56 | 13,349.09 | 12,091.10 | 0.00 |
| Equity Share Capital | 95.92 | 95.92 | 95.92 | 95.92 | 95.92 | 95.92 | 0.00 |
| Other Equity | 20,685.64 | 18,887.56 | 18,329.17 | 15,489.64 | 13,253.17 | 11,995.18 | 0.00 |
| Non-Current Liabilities | 2,296.82 | 1,453.43 | 1,335.80 | 1,112.82 | 911.80 | 916.24 | 0.00 |
| Current Liabilities | 7,005.88 | 6,216.20 | 6,221.01 | 5,831.46 | 5,647.44 | 4,575.33 | 0.00 |
| Total Liabilities | 9,302.70 | 7,669.63 | 7,556.81 | 6,944.28 | 6,559.24 | 5,491.57 | 0.00 |
| Particulars | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 |
|---|---|---|---|---|---|---|---|
| Cash from Operating Activities | 6,760.94 | 4,165.76 | 5,737.84 | 4,221.65 | 1,260.31 | 3,459.50 | 0.00 |
| Cash from Investing Activities | -1,190.12 | -832.47 | -2,263.19 | -1,396.88 | -339.98 | -436.95 | 0.00 |
| Cash from Financing Activities | -2,144.50 | -3,415.68 | -2,974.48 | -2,184.87 | -1,989.32 | -582.90 | 0.00 |
| Net Increase/Decrease in Cash | 3,426.32 | -82.39 | 500.17 | 639.90 | -1,068.99 | 2,439.65 | 0.00 |