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| Line item | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 14 | 14 | 14 | 19 | 22 | 22 | 22 |
| Reserves | 22 | 25 | 32 | 58 | 105 | 108 | 108 |
| Borrowings | 29 | 28 | 67 | 59 | 76 | 107 | 114 |
| Other Liabilities | 33 | 32 | 38 | 34 | 80 | 53 | 30 |
| Total Liabilities | 98 | 99 | 151 | 170 | 283 | 290 | 274 |
| AssetsFixed Assets | 7 | 8 | 7 | 6 | 6 | 7 | 6 |
| CWIP | 0 | 0 | 0 | 0 | 2 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 91 | 91 | 144 | 164 | 276 | 283 | 268 |
| Total Assets | 98 | 99 | 151 | 170 | 283 | 290 | 274 |
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| ActivitiesCash from Operating | 7 | 11 | -35 | -4 | -43 | -28 |
| Cash from Investing | -2 | -2 | -1 | -1 | -3 | 0 |
| Cash from Financing | -6 | -6 | 34 | 5 | 45 | 29 |
| SummaryCapital Expenditure | — | — | — | — | — | — |
| Free Cash Flow | 5 | 8 | -36 | -5 | -46 | -28 |
| FCF Margin | — | — | — | — | — | — |
| Ratio | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | YoY | 3-yr |
|---|---|---|---|---|---|---|---|---|
| Leverage | 0.81× | 0.72× | 1.46× | 0.77× | 0.60× | 0.88× | +0.28× | Improving |
Margins, returns, leverage and efficiency are computed from the filed statements (year-end balances). 3-yr compares the latest year with three years earlier; small moves read as stable.
Shareholding
As of Mar 2026 · 2,037 shareholders
Since Mar 2025, the public added +11.75 pp while promoters trimmed −10.05 pp. The shareholder count grew 48% to 2,037.
Last 7 disclosures on record
Percentages are as disclosed in the company's shareholding pattern filings. Named holders appear only above SEBI's 1% disclosure threshold, so a holder dropping off the list may have trimmed to just under 1% — or been re-filed under a new name — rather than exited.
This looks cyclical, and we don't have enough quarters to establish a through-cycle earnings base. Valuing it off the current point in the cycle would be misleading.
SIYARAM · CYCLICAL_UNMODELABLE
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