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📊 Last 7 days — analysed filings by sentiment
Note: These are AI-generated, educational summaries of public NSE
filings — grounded in each document, but not investment advice and possibly incomplete.
Verify against the original filing and consult a SEBI-registered adviser before acting.
227 announcements match the current filters (relevance ≥ 5).
Tata Communications Appoints Ganesh Lakshminarayanan as MD & CEO (Designate)
Tata Communications has selected Mr. Ganesh Lakshminarayanan as the MD & CEO (Designate) to succeed the retiring A. S. Lakshminarayanan on April 13, 2026. Mr. Lakshminarayanan brings over 30 years of experience, notably leading Airtel Business to 50% growth over three years and increasing its market share from 30% to 33%. His background includes leadership roles at ServiceNow India and Dell India, where he scaled operations to 15,000 employees. The appointment is subject to regulatory approvals and signals a continued focus on AI and digital transformation.
Key Highlights
Mr. Ganesh Lakshminarayanan selected as MD & CEO (Designate) effective upon regulatory approvals.
Current MD & CEO A. S. Lakshminarayanan to retire on April 13, 2026, ensuring a clear succession timeline.
Appointee previously achieved 50% growth over 3 years and increased market share to 33% at Airtel Business.
Extensive experience in scaling operations, including growing Dell India's workforce to 15,000 employees.
Strong background in AI and digital transformation from recent leadership at ServiceNow India.
👀 What to Watch
Investors should view this as a positive leadership transition given the appointee's proven track record in the Indian enterprise and telecom sectors. No immediate action is required, but monitor the transition process leading up to April 2026.
CreditAccess Grameen Q3 FY26 PAT Doubles QoQ to ₹252 Cr; 9.12 Lakh ESOPs Granted
CreditAccess Grameen reported a significant sequential recovery with Net Profit (PAT) doubling to ₹252.09 crore in Q3 FY26, up from ₹125.81 crore in Q2 FY26. While year-on-year PAT declined by 42.5% from ₹438.09 crore, the sharp reduction in impairment costs from ₹525.67 crore in the previous quarter to ₹342.57 crore indicates improving asset quality. Total revenue from operations grew 8% YoY to ₹1,490.41 crore. Additionally, the board approved the grant of 9,12,500 stock options to employees at an exercise price of ₹1,344.97.
Key Highlights
Net Profit (PAT) surged 100.4% quarter-on-quarter to ₹252.09 crore.
Impairment on financial instruments (provisions) decreased by 34.8% QoQ to ₹342.57 crore.
Total revenue from operations stood at ₹1,490.41 crore, an 8% increase over Q3 FY25.
Board approved 9,12,500 ESOPs at an exercise price of ₹1,344.97 per share.
Basic EPS improved significantly to ₹15.76 from ₹7.87 in the preceding quarter.
👀 What to Watch
The strong sequential rebound in profitability and cooling credit costs suggest the worst of the asset quality stress may be subsiding. Investors should maintain a watch on the collection efficiency and the long-term impact of the newly notified Labour Codes on operating expenses.
CreditAccess Grameen Q3 PAT Surges 153% YoY to ₹252 Cr; Asset Quality Improves
CreditAccess Grameen reported a strong recovery in Q3 FY26 with PAT doubling sequentially to INR 252.1 crore, driven by a 54.4% YoY reduction in credit costs. Asset quality showed significant improvement as PAR 0+ dropped to 4.4% and collection efficiency rose to 95.5% in December 2025. The company's AUM grew 7.1% YoY to INR 26,566 crore, supported by a 13.4% increase in disbursements. Management highlighted a sharp decline in new PAR accretion, particularly in Karnataka, signaling a return to historical stability.
Key Highlights
PAT surged 153.3% YoY and 100.4% QoQ to INR 252.1 crore, with RoA improving to 3.5%
Asset quality improved with PAR 0+ at 4.4% vs 4.7% QoQ and GNPA/NNPA at 4.04%/1.36%
AUM reached INR 26,566 crore (up 7.1% YoY) with disbursements growing 13.4% YoY to INR 5,767 crore
Added 2.06 lakh new borrowers in Q3, with 39% being New-to-Credit (NTC)
Strong capital position with CRAR at 26.4% and liquidity of INR 2,397.4 crore
👀 What to Watch
Investors should view the sharp recovery in profitability and stabilizing asset quality as a positive sign of the MFI cycle bottoming out. Monitor the sustainability of collection efficiency and credit cost reductions in the upcoming quarters.
CreditAccess Grameen Q3 FY26: Adjusted PAT at ₹266 Cr; Asset Quality Normalizes
CreditAccess Grameen reported a Gross Loan Portfolio (GLP) of ₹26,566 crore for Q3 FY26, a 7.1% YoY increase, driven by robust disbursements of ₹5,767 crore. The company demonstrated a strong recovery in asset quality, with monthly PAR 15+ accretion dropping to 0.18% in December 2025 from 0.47% in September. Adjusted PAT reached ₹266 crore, while credit costs continued their downward trajectory to ₹343 crore. The firm has successfully aligned with MFI guardrails, significantly reducing exposure to over-leveraged borrowers.
Key Highlights
Gross Loan Portfolio (GLP) reached ₹26,566 crore, up 7.1% YoY, with Retail Finance share increasing to 14.1%.
Monthly PAR 15+ accretion improved significantly to 0.18% in Dec-25 compared to 0.47% in Sep-25.
Quarterly credit costs declined to ₹343 crore from ₹526 crore in Q2 FY26, marking a normalization trend.
Adjusted Return on Assets (ROA) stood at 3.7% and Adjusted Return on Equity (ROE) at 14.6% for the quarter.
Exposure to borrowers with >3 lenders reduced drastically to 4.9% of GLP from 25.3% in August 2024.
👀 What to Watch
The significant reduction in incremental stress (PAR accretion) and credit costs indicates a turnaround in operational performance. Investors may view this as a positive signal for earnings stability heading into FY27.
CreditAccess Grameen Q3 FY26 PAT Doubles Sequentially to ₹252 Cr; Impairments Decline
CreditAccess Grameen reported a strong recovery in Q3 FY26 with a Standalone Profit After Tax (PAT) of ₹252.09 crore, a significant jump from ₹125.81 crore in the previous quarter. This performance marks a major turnaround from the ₹99.52 crore loss reported in the same quarter last year. The improvement is primarily attributed to a sharp reduction in impairment costs, which fell to ₹342.57 crore from ₹525.67 crore in Q2 FY26. Additionally, the board approved the grant of 9,12,500 stock options to employees at an exercise price of ₹1,344.97.
Key Highlights
Net Profit for Q3 FY26 reached ₹252.09 crore, up 100.3% from ₹125.81 crore in Q2 FY26.
Impairment on financial instruments decreased significantly to ₹342.57 crore compared to ₹525.67 crore in the previous quarter.
Total Income for the quarter stood at ₹1,491.31 crore, maintaining stability despite a slight sequential dip from ₹1,509.02 crore.
Basic Earnings Per Share (EPS) improved to ₹15.76 for the quarter, doubling from ₹7.87 in Q2 FY26.
Board approved 9,12,500 ESOPs at an exercise price of ₹1,344.97, with a 4-year vesting schedule.
👀 What to Watch
The significant reduction in credit costs and the sequential doubling of profits suggest a recovery in asset quality; investors should maintain a positive outlook while monitoring the sustainability of lower impairment levels.
Tata Capital Q3 FY26 Net Profit Rises 10% to ₹790 Crore; Capital Adequacy Strengthens to 20.26%
Tata Capital Limited reported a steady performance for Q3 FY26 with a standalone net profit of ₹789.86 crore, a 10% increase from ₹718.76 crore in the same period last year. Total revenue from operations grew by 7.7% YoY to ₹5,783.28 crore. While asset quality saw a slight dip with Gross NPA rising to 2.90% from 2.29% YoY, the company's Capital Adequacy Ratio improved significantly to 20.26%. The company also reported nil deviation in the utilization of proceeds from its IPO and NCD issuances.
Key Highlights
Standalone Net Profit for Q3 FY26 grew 10% YoY to ₹789.86 crore.
Total Revenue from operations increased to ₹5,783.28 crore from ₹5,367.74 crore in Q3 FY25.
Capital Adequacy Ratio (CAR) improved to 20.26% compared to 16.26% in the previous year.
Gross NPA stood at 2.90% and Net NPA at 1.37%, showing a slight uptick in bad loans YoY.
Net Worth reached ₹37,359.37 crore as of December 31, 2025, following the Tata Motors Finance merger.
👀 What to Watch
Investors should focus on the company's improving capital base and revenue growth post-merger with Tata Motors Finance. While there is a slight increase in NPAs, the strong capital adequacy provides a significant buffer for future expansion.
Tata Capital Q3FY26: PAT Jumps 39% YoY to ₹1,285 Cr; Net AUM Reaches ₹2.6 Lakh Cr
Tata Capital reported a robust performance for Q3FY26, with Profit After Tax (excluding Motor Finance) growing 39% YoY to ₹1,285 crore. The total Net AUM, including the recently merged Motor Finance business, reached ₹2,60,698 crore, marking a 7% QoQ increase. Asset quality remained stable with GNPA at 1.6% for the core business, while the consolidated cost of funds improved by 23bps to 7.2%. The company maintains a diversified, retail-heavy book with Retail and SME segments constituting 87% of the total AUM.
Key Highlights
Net AUM grew 26% YoY to ₹2,34,114 Cr (excluding Motor Finance) and reached ₹2,60,698 Cr on a consolidated basis.
Profit After Tax (PAT) surged 39% YoY to ₹1,285 Cr with an improved Return on Assets (ROA) of 2.3%.
Asset quality remains strong with GNPA at 1.6% and NNPA at 0.6% for the core lending business.
Consolidated cost of funds declined by 23bps QoQ to 7.2%, reflecting efficient liability management.
Retail and SME segments now represent 87% of the total portfolio, with unsecured retail loans at a controlled 10.4%.
👀 What to Watch
Investors should take note of the strong double-digit growth in AUM and PAT alongside improving ROA and ROE metrics. The successful integration of the Motor Finance business and stable asset quality suggest a positive outlook for this Tata Group NBFC.
Tata Capital Q3FY26: Consolidated PAT Up 18% QoQ to ₹1,290 Cr; Motor Finance Hits Breakeven
Tata Capital reported a strong Q3FY26 with consolidated Assets Under Management (AUM) growing 7% QoQ to ₹2,60,698 crore. Consolidated PAT (excluding non-recurring items) rose 18% QoQ to ₹1,290 crore, significantly supported by the Motor Finance segment reaching profitability breakeven. The core business, excluding Motor Finance, showed robust momentum with 26% YoY AUM growth and 39% YoY PAT growth. Asset quality remains manageable with a consolidated Net Stage 3 ratio of 1.0% and a high capital adequacy of 20.3%.
Key Highlights
Consolidated AUM reached ₹2,60,698 crore, up 7% QoQ, with Retail and SME making up 87% of the portfolio.
Consolidated PAT (excl. non-recurring items) grew 18% QoQ to ₹1,290 crore as Motor Finance achieved breakeven.
Excluding Motor Finance, PAT surged 39% YoY to ₹1,285 crore with a healthy ROA of 2.3%.
Housing Finance subsidiary (TCHFL) reported 30% YoY AUM growth to ₹81,585 crore and 25% YoY PAT growth.
Capital Adequacy Ratio remains strong at 20.3% with a Pan-India network of 1,505 branches.
👀 What to Watch
The results demonstrate strong execution in core segments and a successful integration/turnaround of the Motor Finance business. Investors should monitor the continued stabilization of asset quality in the Motor Finance book and the scaling of the high-growth housing finance segment.
Tata Capital Q3 PAT Rises 10% YoY to ₹790 Crore; Revenue Hits ₹5,783 Crore
Tata Capital reported a steady performance for Q3 FY26 with standalone Profit After Tax (PAT) growing 9.9% YoY to ₹789.86 crore. Total revenue from operations increased to ₹5,783.28 crore, supported by the successful integration of Tata Motors Finance Limited. While profitability remains healthy, asset quality saw a slight decline with Gross NPA rising to 2.90% from 2.29% YoY. The company's capital position remains strong with a Capital Adequacy Ratio of 20.26% and a net worth of ₹37,359 crore.
Key Highlights
Standalone Profit After Tax (PAT) increased to ₹789.86 crore in Q3 FY26 from ₹718.76 crore in Q3 FY25.
Total Revenue from operations grew to ₹5,783.28 crore compared to ₹5,367.74 crore in the previous year's corresponding quarter.
Gross NPA stood at 2.90% and Net NPA at 1.37%, reflecting a year-on-year increase in stressed assets.
Capital Adequacy Ratio (CAR) remains robust at 20.26% as of December 31, 2025.
Net worth significantly strengthened to ₹37,359.37 crore following the amalgamation of Tata Motors Finance Limited.
👀 What to Watch
Investors should focus on the company's ability to manage asset quality post-merger, as NPAs have shown an upward trend. The strong capital adequacy and backing of the Tata Group continue to make it a stable long-term financial play.
Delta Corp Announces Demerger, New Goa Vessel, and Expansion to 750+ Hotel Keys
Delta Corp is restructuring its business by demerging its Gaming and Hospitality/Real Estate divisions into two separate entities via a mirror split, expected to complete within six months. The company is expanding its gaming capacity with a new vessel in Goa starting April 2026 and increasing its hotel inventory to over 750 keys by FY27. However, the Dhargal integrated resort project has been put on hold due to the challenging 40% GST environment, which continues to materially impact profitability. Investors are currently awaiting a final Supreme Court judgment on GST matters and a High Court decision on the Daman casino license.
Key Highlights
Proposed demerger into separate Gaming and Hospitality entities to be completed within 6 months.
New casino vessel in Goa expected to commence commercial operations in April 2026.
Total hotel inventory to exceed 750 keys following completion of Panjim and Alibaug projects in FY27.
Dhargal integrated resort project on hold; company seeking to monetize the land parcel.
Profitability materially impacted by 40% GST on gaming chips; Supreme Court judgment is pending.
👀 What to Watch
Investors should maintain a watch on the NCLT demerger progress and the Supreme Court's final GST ruling, which are critical for long-term valuation. The expansion in hotel keys and the new vessel provide growth visibility, but regulatory headwinds remain the primary risk.
Delta Corp Q3 Standalone PAT falls 53% YoY to ₹19.38 Cr; ₹378 Cr hit from Online Gaming Act
Delta Corp reported a weak set of numbers for Q3 FY26, with standalone revenue from operations declining 21.5% YoY to ₹117.86 crore. Net profit for the quarter plummeted by 53.4% YoY to ₹19.38 crore, down from ₹41.61 crore in the same period last year. The company faced a massive ₹378.34 crore cumulative reduction in the fair value of its online gaming investments due to the enactment of the Promotion and Regulation of Online Gaming Act, 2025, which prohibits real-money stakes. Furthermore, the company remains embroiled in a legal battle over GST show-cause notices totaling ₹23,207.30 crore, with the Supreme Court judgment currently reserved.
Key Highlights
Revenue from operations fell to ₹117.86 crore in Q3 FY26 from ₹150.17 crore in Q3 FY25.
Standalone Net Profit declined significantly to ₹19.38 crore versus ₹41.61 crore YoY.
Recorded a ₹378.34 crore hit in Other Comprehensive Income due to fair value write-downs of online gaming entities.
Gaming operations revenue dropped to ₹103.81 crore from ₹135.79 crore in the previous year's quarter.
Contingent liability remains high with GST demands of ₹23,207.30 crore pending Supreme Court verdict.
👀 What to Watch
Investors should remain highly cautious as the company faces a double blow from a legislative ban on real-money online gaming and a massive pending GST litigation. The significant erosion in investment value and declining gaming revenues suggest a challenging recovery path in the near term.
Delta Corp Q3 FY26 Net Profit Drops 53% YoY to ₹19.38 Cr Amid ₹378 Cr Online Gaming Write-down
Delta Corp reported a weak set of numbers for Q3 FY26, with standalone revenue declining 21.5% YoY to ₹117.86 crore and net profit falling 53.4% YoY to ₹19.38 crore. The company's financials were heavily impacted by the enactment of the Promotion and Regulation of Online Gaming Act, 2025, which led to a cumulative fair value reduction of ₹378.34 crore in its online gaming investments. Furthermore, the company continues to face a massive contingent liability of ₹23,207.30 crore related to GST show-cause notices, with the Supreme Court judgment currently reserved. Operational revenue from gaming also saw a sequential decline of 15.4% compared to the previous quarter.
Key Highlights
Standalone Revenue from Operations fell 21.5% YoY to ₹117.86 crore in Q3 FY26.
Net Profit for the quarter plummeted to ₹19.38 crore from ₹41.61 crore in the year-ago period.
Recognized a ₹378.34 crore cumulative fair value loss in OCI due to the new federal ban on real-money online gaming.
Outstanding GST show-cause notices total ₹23,207.30 crore, with the legal matter now reserved for judgment by the Supreme Court.
Gaming operations revenue declined to ₹103.81 crore in Q3 FY26 from ₹122.74 crore in Q2 FY26.
👀 What to Watch
Investors should exercise extreme caution as the company faces significant regulatory headwinds in the online gaming sector and a potentially existential threat from the multi-billion dollar GST litigation. The stock is likely to remain volatile and underperform until there is a favorable resolution in the Supreme Court or a pivot in the business model.
Delta Corp to Close Loss-Making Zuri Casino in Goa Effective January 9, 2026
Delta Corp Limited has announced the closure of its casino operations at The Zuri White Sands Goa, managed by its subsidiary Delta Pleasure Cruise Company Private Limited. The unit contributed Rs. 15.51 crores to the consolidated turnover, which is approximately 2.13% of the total revenue. Significantly, the unit had a negative net worth of Rs. 15.26 crores and was operating at a loss. Management indicates that this closure will not materially impact the company's overall financial position as other operations remain unaffected.
Key Highlights
Closure of Deltin Zuri casino operations effective from January 9, 2026
Unit contributed Rs. 15.51 crores (2.13%) to consolidated turnover in the last financial year
Unit reported a negative net worth of Rs. 15.26 crores (-0.62% of consolidated net worth)
Decision driven by the unit operating at a loss, aimed at improving overall profitability
No material impact expected on the company's consolidated financial position
👀 What to Watch
Investors should view this as a prudent capital allocation move to eliminate a loss-making unit with negative net worth. This streamlining is likely to be margin-accretive for the company in the long run.
CreditAccess Grameen Dec-25 Update: GLP at ₹26,566 Cr, PAR 15+ Accretion Drops to 0.18%
CreditAccess Grameen reported a recovery in operational metrics for December 2025, with the Gross Loan Portfolio reaching INR 26,566 crore. Disbursements saw a strong 26% month-on-month growth in December, totaling INR 5,805 crore for the third quarter. Asset quality is normalizing, evidenced by the X-Bucket collection efficiency hitting 99.71% and a sharp decline in new PAR 15+ accretion to 0.18%. While PAR 90+ rose slightly to 2.9% due to older slippages, the overall trend suggests a significant reduction in fresh stress across key states like Karnataka.
Key Highlights
Gross Loan Portfolio (GLP) grew to INR 26,566 crore in Dec-25, up from INR 25,904 crore in Sep-25.
Disbursements in Dec-25 rose 26% MoM, with Q3 FY26 total disbursements reaching INR 5,805 crore.
Asset quality improved as PAR 15+ accretion rate fell to 0.18% in Dec-25 compared to 0.54% in Oct-25.
X-Bucket Collection Efficiency reached 99.71% in Dec-25, signaling normalization across geographies.
The company added 2.1 lakh new borrowers in Q3 FY26, bringing the 9M FY26 total to 6.5 lakh.
👀 What to Watch
Investors should monitor the stabilization of PAR 90+ in the upcoming full quarterly results to confirm that forward flows have peaked. The strong rebound in disbursements and collection efficiency suggests the company is successfully navigating recent microfinance sector headwinds.
CreditAccess Grameen Wins Income Tax Appeal; ₹46.03 Crore Demand Deleted
CreditAccess Grameen Limited has received a favorable ruling from the Commissioner of Income-tax (Appeals) regarding a tax dispute for Assessment Year 2022-23. The order, dated December 24, 2025, allows the company's appeal and completely deletes the previously issued demand of ₹46.03 crore. This resolution effectively removes a significant contingent liability that had been pending since March 2024. The decision by the National Faceless Appeal Centre provides financial clarity and eliminates the risk of a major cash outflow related to this specific tax matter.
Key Highlights
Commissioner of Income-tax (Appeals) allowed the company's appeal on December 24, 2025.
Income tax demand of ₹46.03 crore for Assessment Year 2022-23 has been deleted.
The original demand order was dated March 18, 2024.
The ruling was issued by the National Faceless Appeal Centre, Income Tax Department.
👀 What to Watch
Investors should view this as a positive development that clears a legal hurdle and protects the company's cash flows. No immediate portfolio changes are necessary based on this news alone.
CreditAccess Grameen Allots USD 30 Million Non-Convertible Bonds to BlueOrchard
CreditAccess Grameen has successfully allotted 3,000 USD-denominated Non-Convertible Bonds (NCBs) to BlueOrchard Microfinance Fund on a private placement basis. The total fundraise amounts to USD 30 million with a face value of USD 10,000 per bond. These secured bonds carry a coupon rate of 240 basis points over Term SOFR and have a five-year tenure maturing in December 2030. This move helps the company diversify its funding sources and secure long-term capital for its microfinance operations.
Key Highlights
Allotment of 3,000 USD-denominated Non-Convertible Bonds aggregating to USD 30 million
Single investor participation from BlueOrchard Microfinance Fund via private placement
Coupon rate set at 240 basis points plus Term SOFR, payable semi-annually
Tenure of 5 years with a partial redemption schedule starting from December 2028
Securities to be listed on NSE IFSC Limited (Gift City)
👀 What to Watch
Investors should view this as a positive indicator of the company's ability to attract international institutional capital. Monitor the impact of foreign exchange hedging costs on the overall cost of funds.
Tata Chemicals to Acquire Singapore's Novabay for EUR 25 Million to Boost Specialty Bicarb Portfolio
Tata Chemicals' subsidiary, TCIPL, has signed a deal to acquire 100% of Novabay Pte. Limited for an enterprise value of EUR 25 million (~SGD 37.8 million). Novabay is a Singapore-based manufacturer of premium-grade sodium bicarbonate with a 60,000-ton capacity, serving high-margin sectors like Pharma and Food. This strategic move aims to shift the company's mix toward non-cyclical, high-value products. The acquisition is expected to be completed by March 2026 and offers a clear path to expand capacity to 100,000 tons.
Key Highlights
Acquisition of 100% stake in Novabay at an enterprise value of EUR 25 million in an all-cash deal.
Novabay reported a CY24 turnover of SGD 29.49 million, showing growth from SGD 25.93 million in CY23.
Current production capacity of 60,000 tons with potential to scale up to 100,000 tons.
Target entity holds key cGMP and API certifications for pharmaceutical and hemodialysis applications.
Strategic alignment with Tata Chemicals' goal to expand in high-value, non-cyclical specialty chemical segments.
👀 What to Watch
Investors should view this as a positive strategic pivot toward high-margin specialty chemicals which reduces reliance on cyclical industrial soda ash. Monitor the execution of the capacity expansion and its impact on consolidated EBITDA margins post-2026.
Tata Chemicals Allots ₹1,500 Crore NCDs at 7.06% Coupon Rate
Tata Chemicals has successfully completed the allotment of 1,50,000 Non-Convertible Debentures (NCDs) to raise ₹1,500 crore on a private placement basis. These unsecured, rated debentures carry a fixed coupon rate of 7.06% per annum, which is competitive for the current market. The instruments have a tenor of 2 years and 364 days and will be listed on the NSE Debt Segment. This move strengthens the company's liquidity position and likely supports refinancing or general corporate purposes.
Key Highlights
Allotment of 1,50,000 NCDs with a face value of ₹1,00,000 each
Total capital raised aggregates to ₹1,500 crore via private placement
Fixed coupon rate set at 7.06% with a tenor of 2 years 364 days
NCDs are unsecured, rated, and redeemable, to be listed on NSE Debt Segment
👀 What to Watch
Investors should view this as a routine treasury management activity that leverages the company's strong credit profile to secure low-cost debt. No immediate action is required, but monitor the company's overall leverage ratios in upcoming quarterly results.
Tata Capital Q2 FY26 Standalone PAT at ₹661 Cr; Resubmits Legible Financial Results
Tata Capital Limited re-submitted its financial results for the quarter and half-year ended September 30, 2025, following a request from the NSE for a machine-readable copy. The company reported a standalone profit after tax (PAT) of ₹660.61 crore for Q2 FY26, a 6.5% decrease compared to ₹707.05 crore in Q2 FY25. Total revenue from operations grew slightly to ₹5,584.44 crore from ₹5,427.51 crore year-on-year. Asset quality showed some deterioration, with Gross NPA rising to 2.89% from 2.20% in the previous year.
Key Highlights
Standalone PAT for Q2 FY26 stood at ₹660.61 crore versus ₹707.05 crore in Q2 FY25.
Total revenue from operations increased to ₹5,584.44 crore in Q2 FY26 from ₹5,427.51 crore YoY.
Gross NPA increased to 2.89% as of Sept 30, 2025, compared to 2.20% as of Sept 30, 2024.
Net NPA rose to 1.40% from 0.87% YoY, while Capital Adequacy Ratio remained stable at 17.34%.
Financials include the impact of the merger with Tata Motors Finance Limited effective April 1, 2024.
👀 What to Watch
Investors should monitor the rising NPA levels and the impact of the Tata Motors Finance merger on long-term profitability. While revenue remains stable, the slight dip in quarterly PAT and increased provisioning suggest a need for cautious observation of asset quality.
Tata Chemicals to Raise ₹1,500 Crore via Private Placement of NCDs
Tata Chemicals has finalized the terms for raising ₹1,500 crore through the issuance of 1,50,000 unsecured Non-Convertible Debentures (NCDs). These NCDs, with a face value of ₹1,00,000 each, will be issued on a private placement basis and listed on the NSE debt segment. The tenure is fixed at 2 years and 364 days with a bullet repayment at maturity. The issue has been assigned a high credit rating of 'AA+/Stable' by both CARE and CRISIL, reflecting strong financial stability.
Key Highlights
Total fundraise of ₹1,500 crore through 1,50,000 NCDs of ₹1,00,000 face value each
Instrument rated 'AA+/Stable' by both CARE Ratings and CRISIL Ratings
Tenure of 2 years 364 days with a bullet repayment structure at maturity
Fixed rate coupon to be determined via bidding on the NSE Electronic Bidding Platform
NCDs are unsecured, taxable, and will be listed on the NSE Debt Segment
👀 What to Watch
Investors should view this as a routine capital management exercise supported by strong credit ratings. Monitor the final coupon rate discovered during bidding to assess the company's cost of debt relative to industry peers.
