Home › Quarterly results › Q2 FY26
Q2 FY26 quarterly results (July-September 2025)
5,073 companies have declared Q2 FY26 results so far, the latest on 14 Sep 2026.
Across the 4,407 non-financial companies with a year-ago quarter to compare, sales grew +12.8% and net profit +57.5% year on year, and the combined operating margin widened 96 bps to 14.3%.
For the 146 banks and lenders, net interest income grew +6.3% and net profit +7.3%.
54% of companies grew net profit; 337 turned a loss into a profit; 34% beat their own profit trend and 50% fell short of it.
Updated 13 Oct 2026, 19:14 IST
5073 declared
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Q2 FY26 scoreboard
Sales growth
+12.8%
YoY, 4407 companies combined; median +8.4%
Net profit growth
+57.5%
YoY combined; median +9.4%
Operating margin
14.3%
+96 bps YoY
Grew profit
54%
337 turnarounds, 405 into loss
Vs own profit trend
34% / 50%
above / below, 16% in line
Banks: NII growth
+6.3%
146 lenders; profit +7.3%
Price since results
-5.6%
median; 0% of 1 stocks up
Other-income heavy
1339
25%+ of pre-tax profit from other income & one-offs
Filters & sorting
Results by sector
1339 matching results 1339
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M Cap ₹1,780 Cr
P/E 18.5
PEG 1.54
Operating margin contracted 561 bps YoY All of pre-tax profit came from other income or one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-17.7% -39.1%
58.3 95.8 70.8
Operating profit
-63.0% -90.8%
2.7 29.1 7.2
OPM %
-561 bps -2581 bps
4.6% 30.4% 10.2%
Other income
+4.3% +41.6%
4.5 3.1 4.3
Net profit
+33.0% -84.6%
2.8 18.0 2.1
PAT margin %
+181 bps -1405 bps
4.7% 18.8% 2.9%
EPS (₹)
+32.4% -92.4%
0.45 5.91 0.34
Quality of profit
Pre-tax profit ₹3.7 Cr: core business −₹1.6 Cr, other income ₹4.5 Cr, exceptional & other items ₹0.8 Cr.
Core profit YoY: to loss
· reported profit +33.0%
Cash & debt
FY25 cash from operations ₹109 Cr:
118% of FY25 net profit of ₹92.0 Cr.
Borrowings ₹4.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹80.1 ₹58.3
-27.2% below
Net profit ₹2.6 ₹2.8
+7.0% in line
M Cap ₹1,770 Cr
P/E 35.9
PEG 3.59
Profit +130% above its own trend Operating margin expanded 141 bps YoY 34% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +113%)
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+13.5% +19.1%
120 101 106
Operating profit
+22.0% +28.4%
24.4 19.0 20.0
OPM %
+141 bps +147 bps
20.3% 18.8% 18.9%
Other income
+38.7% -30.6%
5.5 8.0 4.0
Net profit?
+72.1% +50.6%
12.1 8.0 7.0
PAT margin %
+341 bps +210 bps
10.0% 7.9% 6.6%
EPS (₹)
+72.7% +49.5%
10.48 7.01 6.07
Quality of profit
Core 66% Other income & one-offs 34%
Pre-tax profit ₹16.2 Cr: core business ₹10.6 Cr, other income ₹5.5 Cr.
Core profit YoY: +112.6%
· reported profit +72.1%
Cash & debt
FY25 cash from operations ₹57.0 Cr:
236% of FY25 net profit of ₹24.2 Cr.
Borrowings ₹314 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹102 ₹120
+18.0% above
Net profit ₹5.2 ₹12.1
+129.8% above
M Cap ₹1,757 Cr
P/E 1.2
PEG 0.01
Profit +29% above its own trend All of pre-tax profit came from other income or one-off items FY25 operating cash flow was only 10% of profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-98.4% -41.0%
2.0 3.4 128
Operating profit
loss narrowed loss widened
-7.0 -6.0 -18.2
Other income
-24.8% -47.1%
44.0 83.1 58.5
Net profit?
+157.3% -98.9%
14.0 1,223 5.4
EPS (₹)
+157.3% -98.9%
2.83 246.62 1.10
Quality of profit
Pre-tax profit ₹24.0 Cr: core business −₹20.0 Cr, other income ₹44.0 Cr.
Core profit YoY: loss narrowed
· reported profit +157.3%
Cash & debt
FY25 cash from operations ₹16.0 Cr:
10% of FY25 net profit of ₹157 Cr.
Borrowings ₹1,115 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹98.0 ₹2.0
-98.0% below
Net profit ₹10.9 ₹14.0
+28.7% above
M Cap ₹1,751 Cr
P/E 175.3
PEG 7.62
Profit +562% above its own trend 29% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+21.9% -8.9%
189 207 155
Operating profit
+73.6% +3.9%
5.1 4.9 2.9
OPM %
+80 bps +33 bps
2.7% 2.4% 1.9%
Other income
+23.1% +115.0%
0.2 0.1 0.1
Net profit?
+731.1% +8.5%
1.9 1.7 0.2
PAT margin %
+85 bps +16 bps
1.0% 0.8% 0.1%
EPS (₹)
+721.4% +8.5%
1.15 1.06 0.14
Quality of profit
Core 71% Other income & one-offs 29%
Pre-tax profit ₹2.4 Cr: core business ₹1.7 Cr, other income ₹0.2 Cr, exceptional & other items ₹0.5 Cr.
Core profit YoY: —
· reported profit +731.1%
Cash & debt
FY25 cash from operations ₹9.0 Cr:
118% of FY25 net profit of ₹7.6 Cr.
Borrowings ₹46.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹162 ₹189
+16.6% above
Net profit ₹0.3 ₹1.9
+561.9% above
M Cap ₹1,734 Cr
P/E 60.8
PEG —
Profit -73% below its own trend All of pre-tax profit came from other income or one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+53.6% +7.4%
6.1 5.7 4.0
Operating profit
loss widened loss widened
-14.9 -1.6 -3.0
Other income
+0.1% +1.6%
21.4 21.1 21.4
Net profit
-67.4% -70.8%
4.2 14.3 12.9
PAT margin %
— —
68.4% — —
EPS (₹)
-67.9% -71.0%
0.09 0.31 0.28
Quality of profit
Pre-tax profit ₹5.9 Cr: core business −₹15.6 Cr, other income ₹21.4 Cr.
Core profit YoY: loss widened
· reported profit -67.4%
Cash & debt
FY25 cash from operations −₹49.0 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹5.0 ₹6.1
+23.4% above
Net profit ₹15.4 ₹4.2
-72.8% below
M Cap ₹1,726 Cr
P/E 16.3
PEG 2.72
Profit -22% below its own trend Operating margin contracted 509 bps YoY 46% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+5.9% -1.7%
214 218 202
Operating profit
-28.1% -32.3%
23.0 34.0 32.0
OPM %
-509 bps -486 bps
10.7% 15.6% 15.8%
Other income
-15.8% -10.9%
16.0 18.0 19.0
Net profit?
-21.2% -26.1%
26.0 35.2 33.0
PAT margin %
-419 bps -402 bps
12.1% 16.2% 16.3%
EPS (₹)
-20.5% -25.3%
9.99 13.37 12.56
Quality of profit
Core 54% Other income & one-offs 46%
Pre-tax profit ₹35.0 Cr: core business ₹19.0 Cr, other income ₹16.0 Cr.
Core profit YoY: -32.1%
· reported profit -21.2%
Cash & debt
FY25 cash from operations ₹151 Cr:
93% of FY25 net profit of ₹163 Cr.
Borrowings ₹2.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹212 ₹214
+1.0% in line
Net profit ₹33.2 ₹26.0
-21.7% below
M Cap ₹1,720 Cr
P/E 322.9
PEG —
Profit -97% below its own trend Operating margin contracted 573 bps YoY All of pre-tax profit came from other income or one-off items Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+14.6% +20.3%
271 226 237
Operating profit
-39.7% -4.5%
17.2 18.1 28.6
OPM %
-573 bps -165 bps
6.4% 8.0% 12.1%
Other income
+42.7% —
3.0 0.3 2.1
Net profit?
-95.0% +46.5%
0.7 0.5 14.8
PAT margin %
-597 bps +5 bps
0.3% 0.2% 6.2%
EPS (₹)
-95.0% +46.7%
0.22 0.15 4.39
Quality of profit
Pre-tax profit ₹2.7 Cr: core business −₹0.3 Cr, other income ₹3.0 Cr.
Core profit YoY: to loss
· reported profit -95.0%
Cash & debt
FY25 cash from operations −₹34.0 Cr:
-99% of FY25 net profit of ₹34.3 Cr.
Borrowings ₹353 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹257 ₹271
+5.5% above
Net profit ₹21.3 ₹0.7
-96.5% below
M Cap ₹1,689 Cr
P/E 53.8
PEG 2.07
Profit -15% below its own trend Operating margin contracted 181 bps YoY 25% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -26%) Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+6.8% +8.6%
76.9 70.9 72.0
Operating profit
+2.1% +1.7%
30.0 29.5 29.4
OPM %
-181 bps -264 bps
39.0% 41.6% 40.8%
Other income
+285.5% +201.6%
3.8 1.3 1.0
Net profit?
+8.7% +72.8%
12.1 7.0 11.1
PAT margin %
+26 bps +582 bps
15.7% 9.8% 15.4%
EPS (₹)
+3.2% +65.1%
2.89 1.75 2.80
Quality of profit
Core 75% Other income & one-offs 25%
Pre-tax profit ₹15.1 Cr: core business ₹11.3 Cr, other income ₹3.8 Cr.
Core profit YoY: -26.1%
· reported profit +8.7%
Cash & debt
FY25 cash from operations −₹53.0 Cr:
-100% of FY25 net profit of ₹53.0 Cr.
Borrowings ₹122 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹94.4 ₹76.9
-18.5% below
Net profit ₹14.2 ₹12.1
-15.4% below
M Cap ₹1,672 Cr
P/E 8.5
PEG —
71% of pre-tax profit came from other income and one-off items
₹ Cr QoQ
Sep 2025 Jun 2025
Sales
+14.6%
415 362
Operating profit
-21.1%
45.0 57.0
OPM %
-490 bps
10.8% 15.7%
Other income
—
11.0 1.0
Net profit?
-14.0%
37.0 43.0
PAT margin %
-296 bps
8.9% 11.9%
EPS (₹)
-13.8%
1.68 1.95
Quality of profit
Core 29% Other income & one-offs 71%
Pre-tax profit ₹97.0 Cr: core business ₹28.4 Cr, other income ₹11.0 Cr, exceptional & other items ₹57.6 Cr.
M Cap ₹1,659 Cr
P/E 8.7
PEG 0.28
Profit +147% above its own trend Operating margin expanded 2078 bps YoY 70% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +372%)
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+38.0% -6.3%
238 254 172
Operating profit
+196.3% -13.3%
92.6 107 31.2
OPM %
+2078 bps -315 bps
38.9% 42.0% 18.1%
Other income
+321.2% —
121 8.5 28.7
Net profit?
+284.5% +100.5%
133 66.1 34.5
PAT margin %
+3569 bps +2966 bps
55.7% 26.0% 20.0%
EPS (₹)
+284.3% +100.5%
45.73 22.81 11.90
Quality of profit
Core 30% Other income & one-offs 70%
Pre-tax profit ₹173 Cr: core business ₹52.6 Cr, other income ₹121 Cr.
Core profit YoY: +371.6%
· reported profit +284.5%
Cash & debt
FY25 cash from operations ₹864 Cr:
399% of FY25 net profit of ₹216 Cr.
Borrowings ₹164 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹220 ₹238
+8.4% above
Net profit ₹53.7 ₹133
+146.7% above
M Cap ₹1,644 Cr
P/E 11.5
PEG 1.44
Profit -52% below its own trend Operating margin contracted 515 bps YoY 30% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -46%)
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-12.8% -24.2%
286 377 328
Operating profit
-39.6% -54.8%
33.1 73.2 54.8
OPM %
-515 bps -782 bps
11.6% 19.4% 16.7%
Other income
+32.3% +27.5%
9.1 7.1 6.8
Net profit?
-13.3% -29.7%
27.9 39.7 32.1
PAT margin %
-5 bps -76 bps
9.7% 10.5% 9.8%
EPS (₹)
-13.3% -29.7%
67.10 95.45 77.35
Quality of profit
Core 70% Other income & one-offs 30%
Pre-tax profit ₹36.3 Cr: core business ₹25.5 Cr, other income ₹9.1 Cr, exceptional & other items ₹1.7 Cr.
Core profit YoY: -45.7%
· reported profit -13.3%
Cash & debt
FY25 cash from operations ₹172 Cr:
122% of FY25 net profit of ₹141 Cr.
Borrowings ₹85.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹385 ₹286
-25.7% below
Net profit ₹58.2 ₹27.9
-52.1% below
M Cap ₹1,641 Cr
P/E 10.9
PEG 1.09
31% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+8.4% +4.9%
3,032 2,891 2,797
Operating profit
+13.6% +24.0%
38.0 30.6 33.5
OPM %
+6 bps +19 bps
1.3% 1.1% 1.2%
Other income
-15.8% -28.7%
9.0 12.6 10.7
Net profit?
+12.7% +12.0%
28.0 25.0 24.9
PAT margin %
+3 bps +6 bps
0.9% 0.9% 0.9%
EPS (₹)
+11.9% +3.7%
16.41 15.83 14.66
Quality of profit
Core 69% Other income & one-offs 31%
Pre-tax profit ₹29.0 Cr: core business ₹20.0 Cr, other income ₹9.0 Cr.
Core profit YoY: +31.4%
· reported profit +12.7%
Cash & debt
FY25 cash from operations ₹104 Cr:
94% of FY25 net profit of ₹110 Cr.
Borrowings ₹118 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹3,314 ₹3,032
-8.5% below
Net profit ₹27.4 ₹28.0
+2.3% in line
M Cap ₹1,622 Cr
P/E 4.2
PEG 1.39
Profit +122% above its own trend 68% of pre-tax profit came from other income and one-off items FY25 operating cash flow was only 9% of profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+0.0% +111.1%
19.0 9.0 19.0
Operating profit
+0.0% +112.5%
17.0 8.0 17.0
OPM %
+0 bps +58 bps
89.5% 88.9% 89.5%
Other income
-2.6% -14.0%
37.0 43.0 38.0
Net profit?
+11.1% +5.3%
40.0 38.0 36.0
EPS (₹)
+11.0% +3.9%
10.61 10.21 9.56
Quality of profit
Core 32% Other income & one-offs 68%
Pre-tax profit ₹53.0 Cr: core business ₹17.0 Cr, other income ₹37.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +0.0%
· reported profit +11.1%
Cash & debt
FY25 cash from operations ₹21.0 Cr:
9% of FY25 net profit of ₹223 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹22.7 ₹19.0
-16.4% below
Net profit ₹18.0 ₹40.0
+122.2% above
40% of pre-tax profit came from other income and one-off items
₹ Cr QoQ
Sep 2025 Jun 2025
Sales
+10.7%
176 159
Operating profit
+8.7%
25.0 23.0
OPM %
-26 bps
14.2% 14.5%
Other income
+200.0%
3.0 1.0
Net profit
+50.0%
9.0 6.0
PAT margin %
+134 bps
5.1% 3.8%
EPS (₹)
+12.9%
0.35 0.31
Quality of profit
Core 60% Other income & one-offs 40%
Pre-tax profit ₹10.0 Cr: core business ₹6.0 Cr, other income ₹3.0 Cr, exceptional & other items ₹1.0 Cr.
M Cap ₹1,604 Cr
P/E 39.1
PEG 7.82
Profit -14% below its own trend Operating margin contracted 469 bps YoY 28% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -30%)
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+6.0% -7.0%
62.5 67.2 59.0
Operating profit
-18.5% -24.3%
9.8 12.9 12.0
OPM %
-469 bps -357 bps
15.7% 19.2% 20.3%
Other income
+138.2% +49.3%
2.4 1.6 1.0
Net profit?
-3.0% -19.5%
6.8 8.4 7.0
PAT margin %
-100 bps -168 bps
10.9% 12.5% 11.9%
EPS (₹)
+0.8% -19.3%
1.21 1.50 1.20
Quality of profit
Core 72% Other income & one-offs 28%
Pre-tax profit ₹8.6 Cr: core business ₹6.3 Cr, other income ₹2.4 Cr.
Core profit YoY: -30.4%
· reported profit -3.0%
Cash & debt
FY25 cash from operations ₹27.0 Cr:
107% of FY25 net profit of ₹25.2 Cr.
Borrowings ₹43.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹68.1 ₹62.5
-8.2% below
Net profit ₹7.9 ₹6.8
-14.5% below
M Cap ₹1,572 Cr
P/E 29.2
PEG —
Profit +66% above its own trend 26% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-12.6% -9.1%
596 656 682
Operating profit
-13.6% -4.9%
26.9 28.2 31.1
OPM %
-6 bps +20 bps
4.5% 4.3% 4.6%
Other income
-6.4% -2.8%
4.5 4.7 4.8
Net profit
-17.0% -7.4%
13.1 14.1 15.7
PAT margin %
-12 bps +4 bps
2.2% 2.2% 2.3%
EPS (₹)
-16.9% -7.4%
5.67 6.12 6.82
Quality of profit
Core 74% Other income & one-offs 26%
Pre-tax profit ₹17.5 Cr: core business ₹13.0 Cr, other income ₹4.5 Cr.
Core profit YoY: -20.4%
· reported profit -17.0%
Cash & debt
FY25 cash from operations ₹131 Cr:
238% of FY25 net profit of ₹55.1 Cr.
Borrowings ₹29.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹702 ₹596
-15.0% below
Net profit ₹7.9 ₹13.1
+66.1% above
M Cap ₹1,570 Cr
P/E 44.6
PEG 0.99
Profit -98% below its own trend Operating margin contracted 356 bps YoY All of pre-tax profit came from other income or one-off items Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-46.7% -22.1%
106 137 200
Operating profit
-66.7% -39.6%
6.3 10.4 18.9
OPM %
-356 bps -171 bps
5.9% 7.6% 9.5%
Other income
+189.4% +176.8%
1.2 0.4 0.4
Net profit?
-96.5% -91.3%
0.4 4.5 11.2
PAT margin %
-526 bps -296 bps
0.4% 3.3% 5.6%
EPS (₹)
-88.2% -73.9%
0.06 0.23 0.51
Quality of profit
Pre-tax profit ₹0.5 Cr: core business −₹0.6 Cr, other income ₹1.2 Cr.
Core profit YoY: to loss
· reported profit -96.5%
Cash & debt
FY25 cash from operations −₹55.0 Cr:
-168% of FY25 net profit of ₹32.7 Cr.
Borrowings ₹75.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹353 ₹106
-69.9% below
Net profit ₹22.5 ₹0.4
-98.2% below
M Cap ₹1,558 Cr
P/E 91.9
PEG —
Profit -72% below its own trend Operating margin contracted 1096 bps YoY 29% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+1.7% +8.5%
56.6 52.2 55.7
Operating profit
-47.3% -8.2%
6.7 7.3 12.7
OPM %
-1096 bps -215 bps
11.8% 14.0% 22.8%
Other income
-53.2% -23.5%
1.3 1.7 2.8
Net profit?
-74.7% -28.6%
2.7 3.8 10.7
PAT margin %
-1443 bps -247 bps
4.8% 7.2% 19.2%
EPS (₹)
-74.8% -28.8%
13.47 18.93 53.45
Quality of profit
Core 70% Other income & one-offs 30%
Pre-tax profit ₹4.4 Cr: core business ₹3.1 Cr, other income ₹1.3 Cr.
Core profit YoY: -70.0%
· reported profit -74.7%
Cash & debt
FY25 cash from operations ₹34.0 Cr:
86% of FY25 net profit of ₹39.5 Cr.
Borrowings ₹1.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹59.6 ₹56.6
-5.1% below
Net profit ₹9.7 ₹2.7
-72.2% below
M Cap ₹1,545 Cr
P/E 99.4
PEG 4.73
Profit -19% below its own trend Operating margin contracted 350 bps YoY 93% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -94%)
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-2.7% +7.6%
113 105 116
Operating profit
-34.2% -34.3%
8.2 12.5 12.5
OPM %
-350 bps -465 bps
7.3% 12.0% 10.8%
Other income
+17.0% +18.0%
1.0 0.8 0.8
Net profit?
-27.0% +26.7%
5.1 4.0 7.0
PAT margin %
-151 bps +69 bps
4.6% 3.9% 6.1%
EPS (₹)
-30.2% +20.8%
3.77 3.12 5.40
Quality of profit
Core 7% Other income & one-offs 93%
Pre-tax profit ₹6.6 Cr: core business ₹0.4 Cr, other income ₹1.0 Cr, exceptional & other items ₹5.2 Cr.
Core profit YoY: -93.6%
· reported profit -27.0%
Cash & debt
FY25 cash from operations ₹49.0 Cr:
199% of FY25 net profit of ₹24.6 Cr.
Borrowings ₹99.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹118 ₹113
-4.6% in line
Net profit ₹6.3 ₹5.1
-18.9% below
M Cap ₹1,542 Cr
P/E 164.2
PEG 3.16
Profit +78% above its own trend Operating margin expanded 5176 bps YoY All of pre-tax profit came from other income or one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+9.3% +28.9%
5.2 4.0 4.8
Operating profit
loss narrowed loss narrowed
-0.3 -0.4 -2.7
OPM %
+5176 bps +569 bps
-5.2% -10.9% -56.9%
Other income
+35.4% +56.8%
9.5 6.1 7.0
Net profit?
+127.3% +76.7%
6.0 3.4 2.6
EPS (₹)
+123.8% +80.8%
0.47 0.26 0.21
Quality of profit
Pre-tax profit ₹8.2 Cr: core business −₹1.4 Cr, other income ₹9.5 Cr.
Core profit YoY: loss narrowed
· reported profit +127.3%
Cash & debt
FY25 cash from operations ₹184 Cr.
Borrowings ₹30.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹4.8 ₹5.2
+9.5% above
Net profit ₹3.4 ₹6.0
+78.0% above
M Cap ₹1,538 Cr
P/E 27.3
PEG —
Profit +81% above its own trend Operating margin contracted 603 bps YoY 57% of pre-tax profit came from other income and one-off items Exceptional items of ₹9.3 Cr in the quarter Profit grew faster than the core business (core profit +12%) Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+52.7% +8.0%
57.8 53.6 37.9
Operating profit
+14.6% -14.0%
10.5 12.2 9.2
OPM %
-603 bps -465 bps
18.1% 22.8% 24.2%
Other income
-17.8% +28.0%
3.6 2.8 4.3
Net profit?
+77.1% +62.0%
16.3 10.0 9.2
PAT margin %
+387 bps +938 bps
28.1% 18.7% 24.2%
EPS (₹)
+77.3% +62.0%
5.07 3.13 2.86
Quality of profit
Core 43% Other income & one-offs 57%
Pre-tax profit ₹22.6 Cr: core business ₹9.6 Cr, other income ₹3.6 Cr, exceptional & other items ₹9.3 Cr.
Core profit YoY: +11.6%
· reported profit +77.1%
Cash & debt
FY25 cash from operations −₹72.0 Cr:
-170% of FY25 net profit of ₹42.4 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹36.5 ₹57.8
+58.5% above
Net profit ₹9.0 ₹16.3
+80.8% above
M Cap ₹1,523 Cr
P/E 8.8
PEG —
Profit -14% below its own trend 25% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+24.6% +27.9%
172 134 138
Operating profit
+20.0% +163.7%
30.0 11.4 25.0
OPM %
-67 bps +898 bps
17.4% 8.5% 18.1%
Other income
-27.3% +10.1%
8.0 7.3 11.0
Net profit?
-9.1% +38.7%
20.0 14.4 22.0
PAT margin %
-431 bps +90 bps
11.6% 10.7% 15.9%
EPS (₹)
-5.3% —
1.24 — 1.31
Quality of profit
Core 75% Other income & one-offs 25%
Pre-tax profit ₹28.0 Cr: core business ₹21.0 Cr, other income ₹8.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +5.0%
· reported profit -9.1%
Against its own trend ?
Trend Actual Gap
Sales ₹167 ₹172
+2.7% in line
Net profit ₹23.3 ₹20.0
-14.3% below
M Cap ₹1,521 Cr
P/E 48.8
PEG 0.55
Operating margin expanded 292 bps YoY 30% of pre-tax profit came from other income and one-off items Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+48.4% +67.2%
351 210 236
Operating profit
+159.8% +3.5%
23.9 23.1 9.2
OPM %
+292 bps -419 bps
6.8% 11.0% 3.9%
Other income
-36.1% -9.8%
5.0 5.6 7.9
Net profit?
+95.5% -10.8%
14.3 16.0 7.3
PAT margin %
+98 bps -356 bps
4.1% 7.6% 3.1%
EPS (₹)
+97.8% -10.8%
0.91 1.02 0.46
Quality of profit
Core 70% Other income & one-offs 30%
Pre-tax profit ₹16.9 Cr: core business ₹11.8 Cr, other income ₹5.0 Cr.
Core profit YoY: from loss
· reported profit +95.5%
Cash & debt
FY25 cash from operations −₹89.0 Cr:
-243% of FY25 net profit of ₹36.6 Cr.
Borrowings ₹78.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹473 ₹351
-25.8% below
Net profit ₹14.6 ₹14.3
-2.2% in line
M Cap ₹1,518 Cr
P/E 28.4
PEG —
25% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+7.5% +0.6%
224 223 209
Operating profit
+4.8% -3.0%
66.7 68.7 63.6
OPM %
-77 bps -110 bps
29.7% 30.8% 30.5%
Other income
+2.5% +39.7%
7.3 5.2 7.1
Net profit
+5.7% -2.1%
21.8 22.3 20.6
PAT margin %
-17 bps -26 bps
9.7% 10.0% 9.9%
EPS (₹)
+5.8% -1.9%
4.04 4.12 3.82
Quality of profit
Core 75% Other income & one-offs 25%
Pre-tax profit ₹29.0 Cr: core business ₹21.7 Cr, other income ₹7.3 Cr.
Core profit YoY: +3.0%
· reported profit +5.7%
Cash & debt
FY25 cash from operations ₹199 Cr:
213% of FY25 net profit of ₹93.5 Cr.
Borrowings ₹507 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹226 ₹224
-0.8% in line
Net profit ₹21.3 ₹21.8
+2.2% in line
M Cap ₹1,515 Cr
P/E 16.6
PEG 0.35
Profit +24% above its own trend 59% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +8%)
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+1.8% +11.5%
146 131 144
Operating profit
+6.0% +106.1%
17.0 8.2 16.0
OPM %
+46 bps +532 bps
11.6% 6.3% 11.1%
Other income
+148.7% -80.8%
19.9 104 8.0
Net profit?
+56.2% -74.4%
26.7 104 17.1
PAT margin %
+636 bps -6118 bps
18.3% 79.4% 11.9%
EPS (₹)
+59.4% -74.2%
1.53 5.94 0.96
Quality of profit
Core 41% Other income & one-offs 59%
Pre-tax profit ₹34.0 Cr: core business ₹14.1 Cr, other income ₹19.9 Cr.
Core profit YoY: +8.3%
· reported profit +56.2%
Cash & debt
FY25 cash from operations ₹45.0 Cr:
68% of FY25 net profit of ₹66.5 Cr.
Borrowings ₹236 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹153 ₹146
-4.2% in line
Net profit ₹21.5 ₹26.7
+24.3% above
M Cap ₹1,488 Cr
P/E 0.4
PEG 0.02
Turnaround: profit against a loss a year ago All of pre-tax profit came from other income or one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-33.3% +20.0%
18.0 15.0 27.0
Operating profit
loss widened loss widened
-111 -17.0 -7.0
Other income
— —
3,919 0.0 8.0
Net profit
from loss from loss
3,810 -230 -220
EPS (₹)
from loss from loss
180.09 -10.88 -10.41
Quality of profit
Pre-tax profit ₹3,810 Cr: core business −₹109 Cr, other income ₹3,919 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations −₹17.0 Cr.
Borrowings ₹3,097 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹15.7 ₹18.0
+14.6% above
M Cap ₹1,488 Cr
P/E 23.2
PEG —
Turnaround: profit against a loss a year ago Operating margin expanded 340 bps YoY All of pre-tax profit came from other income or one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+6.1% -5.9%
577 614 544
Operating profit
+70.4% -22.1%
52.1 66.9 30.6
OPM %
+340 bps -188 bps
9.0% 10.9% 5.6%
Other income
+131.9% +67.4%
27.8 16.6 12.0
Net profit?
from loss -8.9%
11.6 12.7 -9.3
PAT margin %
+371 bps -7 bps
2.0% 2.1% -1.7%
EPS (₹)
from loss -10.0%
0.45 0.50 -0.36
Quality of profit
Pre-tax profit ₹26.1 Cr: core business −₹1.7 Cr, other income ₹27.8 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations ₹66.0 Cr.
Borrowings ₹829 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹794 ₹577
-27.3% below
M Cap ₹1,478 Cr
P/E 17.8
PEG —
Profit +82% above its own trend Operating margin expanded 280 bps YoY 38% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +284%) Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+31.3% +20.8%
160 132 122
Operating profit
+87.3% -5.6%
15.0 15.9 8.0
OPM %
+280 bps -263 bps
9.4% 12.0% 6.6%
Other income
-0.3% +29.5%
5.0 3.9 5.0
Net profit?
+106.0% +7.3%
13.0 12.1 6.3
PAT margin %
+295 bps -102 bps
8.1% 9.1% 5.2%
EPS (₹)
+112.2% +8.7%
0.87 0.80 0.41
Quality of profit
Core 62% Other income & one-offs 38%
Pre-tax profit ₹16.0 Cr: core business ₹10.0 Cr, other income ₹5.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +284.0%
· reported profit +106.0%
Cash & debt
FY25 cash from operations −₹32.0 Cr:
-66% of FY25 net profit of ₹48.2 Cr.
Borrowings ₹113 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹145 ₹160
+10.6% above
Net profit ₹7.2 ₹13.0
+81.6% above
M Cap ₹1,452 Cr
P/E 8.1
PEG 0.67
Profit +999% above its own trend Operating margin expanded 652 bps YoY 57% of pre-tax profit came from other income and one-off items Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+7.7% +5.7%
248 235 230
Operating profit
+430.0% -11.1%
20.3 22.8 3.8
OPM %
+652 bps -154 bps
8.2% 9.7% 1.7%
Other income
+122.8% +60.8%
12.9 8.0 5.8
Net profit?
— +26.6%
18.1 14.3 0.2
PAT margin %
+723 bps +121 bps
7.3% 6.1% 0.1%
EPS (₹)
— +27.7%
1.06 0.83 0.01
Quality of profit
Core 43% Other income & one-offs 57%
Pre-tax profit ₹21.0 Cr: core business ₹9.1 Cr, other income ₹12.9 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: from loss
Cash & debt
FY25 cash from operations −₹19.0 Cr:
-89% of FY25 net profit of ₹21.3 Cr.
Borrowings ₹129 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹208 ₹248
+19.1% above
Net profit ₹0.3 ₹18.1
+999.0% above
M Cap ₹1,449 Cr
P/E 22.0
PEG —
Profit +21% above its own trend Operating margin contracted 159 bps YoY 90% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -60%) Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+3.0% -9.7%
204 226 198
Operating profit
-37.5% +66.7%
5.0 3.0 8.0
OPM %
-159 bps +112 bps
2.5% 1.3% 4.0%
Other income
+5.6% +5.6%
19.0 18.0 18.0
Net profit
+17.6% +53.8%
20.0 13.0 17.0
PAT margin %
+122 bps +405 bps
9.8% 5.8% 8.6%
EPS (₹)
+18.6% +56.8%
14.43 9.20 12.17
Quality of profit
Core 10% Other income & one-offs 90%
Pre-tax profit ₹21.0 Cr: core business ₹2.0 Cr, other income ₹19.0 Cr.
Core profit YoY: -60.0%
· reported profit +17.6%
Cash & debt
FY25 cash from operations −₹4.0 Cr:
-5% of FY25 net profit of ₹82.0 Cr.
Borrowings ₹24.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹213 ₹204
-4.2% in line
Net profit ₹16.6 ₹20.0
+20.6% above
How to read this page
The numbers. Each card is one company's Q2 FY26 results as filed with NSE or BSE, read from the
filing within hours of its release, in ₹ crore. We show the consolidated statement, or the standalone one when
the consolidated figures are a copy of it or have no year-ago quarter to compare with. YoY compares with the same
quarter a year earlier and QoQ with the quarter before (the previous half-year for companies that report every six months).
A swing between profit and loss is described in words: a percentage across it would mislead.
Net profit. On a consolidated statement, net profit is the profit of the whole group for the quarter,
before minority interest. A company's own headline, and the AI read of its filing, often quote the profit
attributable to its shareholders instead, which is lower when subsidiaries are partly owned: Larsen & Toubro's
Q1 FY27 group profit was ₹4,988 Cr, of which ₹4,123 Cr belonged to its shareholders. EPS is worked out on that
attributable profit, so EPS and net profit need not grow at the same rate. On a standalone statement the two
are the same.
Margins. Operating margin (OPM) is operating profit, before depreciation, interest and other income,
as a share of sales; PAT margin is net profit as a share of sales. Their changes are in basis points
(100 bps = 1 percentage point).
Quality of profit. Core profit is operating profit minus interest and depreciation: what the business
itself earned before tax. The rest of pre-tax profit is other income (interest on cash, dividends, gains on
investments) and exceptional or one-off items. We flag a quarter when that share is 25% or more,
and when reported profit grew much faster than core profit. For banks we compare pre-provision profit with net
profit, since a fall in provisions can lift profit without the business growing.
Against its own trend. We do not have analyst consensus estimates, and we do not make them up. Instead
each company is measured against the path it was on: the same quarter last year, grown at the median of its
last four year-on-year growth rates (held between −50% and +100%; at least two growth rates needed). Sales
5% or more above that, or net profit 10% or more above, is "above trend";
as far below is "below trend". It answers "was this quarter better or worse than the company's own recent
run?", which consensus does not.
Cash and debt. Profit is an accounting figure; cash is harder to dress up. For each company we show
its operating cash flow for the last financial year as a share of that year's net profit (flagged under
50%, or when it is negative despite a profit), and its borrowings at the latest balance sheet
against the one six months earlier (flagged at a 25% move). Balance sheets come with the
September and March results, cash-flow statements with the March results.
Price since results. The latest close against the last close before the filing (a filing after 3:30 pm
counts from the next session). It is a fact about the market's reaction, not advice.
Market cap groups. Large cap is the 100 largest companies by market value and mid cap the next 150
(SEBI's ranking); below that, small cap is ₹5,000 Cr or more, micro cap ₹500 Cr or more, nano cap below.
Data source Quarterly results filed by listed companies with NSE and BSE (Regulation 33 of SEBI LODR), read from each filing; share prices from the exchanges; market cap and P/E from our daily fundamentals snapshot.
Last updated 13 Oct 2026, 19:14 IST