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.
5073 declared
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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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Turnaround: profit against a loss a year ago Operating margin expanded 358 bps YoY 30% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+7.4% +27.3%
676 531 630 Operating profit
+88.0% +15.7%
56.4 48.8 30.0 OPM %
+358 bps -84 bps
8.3% 9.2% 4.8% Other income
-57.4% -57.4%
3.8 9.0 9.0 Net profit?
from loss from loss 5.0 -29.1 -16.0 PAT margin %
+328 bps +622 bps
0.7% -5.5% -2.5% EPS (₹)
from loss from loss 0.59 -3.48 -1.86
Quality of profit
Pre-tax profit ₹14.7 Cr: core business ₹10.3 Cr, other income ₹3.8 Cr, exceptional & other items ₹0.6 Cr.
Core profit YoY: from loss
Cash & debt
FY25 cash from operations ₹192 Cr.
Borrowings ₹889 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹562 ₹676
+20.3% above
M Cap ₹1,427 Cr
P/E 16.4
PEG —
Turnaround: profit against a loss a year ago Operating margin expanded 319 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
+45.0% -7.5%
582 629 401 Operating profit
+664.3% -54.5%
22.9 50.4 3.0 OPM %
+319 bps -408 bps
3.9% 8.0% 0.7% Other income
+228.0% +175.6%
3.3 1.2 1.0 Net profit?
from loss -93.3%
1.0 14.5 -14.0 PAT margin %
+366 bps -214 bps
0.2% 2.3% -3.5% EPS (₹)
from loss -93.2%
0.26 3.82 -3.81
Quality of profit
Pre-tax profit ₹1.7 Cr: core business −₹1.6 Cr, other income ₹3.3 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations ₹102 Cr:
118% of FY25 net profit of ₹86.5 Cr.
Borrowings ₹833 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹409 ₹582
+42.2% above
M Cap ₹1,423 Cr
P/E 28.0
PEG —
Profit +70% above its own trend Operating margin contracted 679 bps YoY 31% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+31.2% +36.7%
164 120 125 Operating profit
-19.0% +63.6%
18.0 11.0 22.2 OPM %
-679 bps +181 bps
11.0% 9.2% 17.8% Other income
+28.0% +100.0%
4.0 2.0 3.1 Net profit?
-14.9% +450.0%
11.0 2.0 12.9 PAT margin %
-363 bps +504 bps
6.7% 1.7% 10.3% EPS (₹)
-22.2% +381.5%
1.30 0.27 1.67
Quality of profit
Pre-tax profit ₹13.0 Cr: core business ₹9.0 Cr, other income ₹4.0 Cr.
Core profit YoY: -32.8%
· reported profit -14.9%
Cash & debt
FY25 cash from operations ₹35.0 Cr:
108% of FY25 net profit of ₹32.4 Cr.
Borrowings ₹53.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹131 ₹164
+24.9% above Net profit ₹6.5 ₹11.0
+70.3% above
Profit +60% above its own trend 63% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -40%) Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-13.1% -10.1%
346 385 398 Operating profit
-14.4% +23.4%
26.3 21.3 30.7 OPM %
-12 bps +206 bps
7.6% 5.5% 7.7% Other income
-29.9% -1.6%
13.3 13.6 19.0 Net profit?
-20.0% +49.4%
22.4 15.0 28.0 PAT margin %
-56 bps +258 bps
6.5% 3.9% 7.0% EPS (₹)
-17.5% +51.8%
3.72 2.45 4.51
Quality of profit
Pre-tax profit ₹28.7 Cr: core business ₹10.7 Cr, other income ₹13.3 Cr, exceptional & other items ₹4.6 Cr.
Core profit YoY: -40.4%
· reported profit -20.0%
Cash & debt
FY25 cash from operations −₹61.0 Cr:
-56% of FY25 net profit of ₹109 Cr.
Borrowings ₹82.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹368 ₹346
-5.8% below Net profit ₹14.0 ₹22.4
+60.1% above
M Cap ₹1,394 Cr
P/E 109.8
PEG —
Profit +35% above its own trend Operating margin contracted 4012 bps YoY 81% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -77%)
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-3.8% -5.5%
4.8 5.0 5.0 Operating profit
-64.9% +81.6%
1.1 0.6 3.1 OPM %
-4012 bps +1108 bps
23.1% 12.0% 63.2% Other income
— +261.7%
2.5 0.7 0.0 Net profit
+26.4% +278.6%
2.9 0.8 2.3 PAT margin %
+1444 bps +4524 bps
60.3% 15.1% 45.9% EPS (₹)
+33.3% +300.0%
0.04 0.01 0.03
Quality of profit
Pre-tax profit ₹3.0 Cr: core business ₹0.6 Cr, other income ₹2.5 Cr.
Core profit YoY: -76.7%
· reported profit +26.4%
Against its own trend ?
Trend Actual Gap
Sales ₹2.5 ₹4.8
+92.3% above Net profit ₹2.1 ₹2.9
+34.6% above
M Cap ₹1,383 Cr
P/E 6397.4
PEG —
Into loss: a profit a year ago Profit -271% below its own trend Operating margin contracted 176 bps YoY 25% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+32.9% +5.6%
355 336 267 Operating profit
+1.8% -21.1%
20.5 25.9 20.1 OPM %
-176 bps -195 bps
5.8% 7.7% 7.5% Other income
-83.3% -28.1%
1.9 2.7 11.7 Net profit?
to loss to loss -8.6 10.8 9.4 PAT margin %
-594 bps -565 bps
-2.4% 3.2% 3.5% EPS (₹)
to loss to loss -0.38 0.48 0.42
Quality of profit
Pre-tax profit ₹7.7 Cr: core business ₹5.8 Cr, other income ₹1.9 Cr.
Core profit YoY: +73.2%
Cash & debt
FY25 cash from operations ₹76.0 Cr:
277% of FY25 net profit of ₹27.5 Cr.
Borrowings ₹316 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹225 ₹355
+58.1% above Net profit ₹5.0 −₹8.6
-271.5% below
M Cap ₹1,355 Cr
P/E 19.6
PEG 0.48
Profit -29% below its own trend Operating margin contracted 1077 bps YoY 26% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+250.3% +10.6%
270 244 77.0 Operating profit
+42.8% +12.8%
20.0 17.7 14.0 OPM %
-1077 bps +15 bps
7.4% 7.3% 18.2% Other income
-10.1% -12.3%
6.3 7.2 7.0 Net profit?
+21.9% +4.3%
18.3 17.5 15.0 PAT margin %
-1270 bps -40 bps
6.8% 7.2% 19.5% EPS (₹)
— +4.9%
1.70 1.62 1.58
No EPS growth against Sep 2024: ₹10 to ₹5 split in Oct 2026.
Quality of profit
Pre-tax profit ₹24.6 Cr: core business ₹18.3 Cr, other income ₹6.3 Cr.
Core profit YoY: +40.8%
· reported profit +21.9%
Cash & debt
FY25 cash from operations ₹67.0 Cr:
127% of FY25 net profit of ₹52.6 Cr.
Borrowings ₹7.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹154 ₹270
+75.2% above Net profit ₹25.6 ₹18.3
-28.7% below
M Cap ₹1,347 Cr
P/E 7.5
PEG 0.63
Profit +36% above its own trend 43% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +15%)
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+4.7% +1.6%
467 460 447 Operating profit
-1.4% +46.9%
66.6 45.3 67.5 OPM %
-88 bps +440 bps
14.2% 9.9% 15.1% Other income
+11.7% -40.0%
30.3 50.4 27.1 Net profit?
+36.7% -14.7%
56.9 66.8 41.6 PAT margin %
+286 bps -233 bps
12.2% 14.5% 9.3% EPS (₹)
+36.5% -12.9%
2.69 3.09 1.97
Quality of profit
Pre-tax profit ₹71.1 Cr: core business ₹40.4 Cr, other income ₹30.3 Cr.
Core profit YoY: +14.7%
· reported profit +36.7%
Cash & debt
FY25 cash from operations ₹224 Cr:
238% of FY25 net profit of ₹93.9 Cr.
Borrowings ₹186 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹443 ₹467
+5.5% above Net profit ₹41.8 ₹56.9
+36.3% above
Profit -61% below its own trend Operating margin expanded 174 bps YoY 54% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -51%)
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-11.1% -22.7%
232 300 261 Operating profit
+4.2% -12.5%
27.5 31.4 26.4 OPM %
+174 bps +139 bps
11.9% 10.5% 10.1% Other income
+55.7% -76.8%
1.1 5.0 0.7 Net profit
-22.4% -79.3%
2.1 10.2 2.7 PAT margin %
-13 bps -250 bps
0.9% 3.4% 1.0% EPS (₹)
+0.0% -77.8%
0.02 0.09 0.02
Quality of profit
Pre-tax profit ₹2.1 Cr: core business ₹1.0 Cr, other income ₹1.1 Cr.
Core profit YoY: -51.5%
· reported profit -22.4%
Cash & debt
FY25 cash from operations ₹97.0 Cr:
374% of FY25 net profit of ₹25.9 Cr.
Borrowings ₹358 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹274 ₹232
-15.5% below Net profit ₹5.4 ₹2.1
-61.2% below
M Cap ₹1,304 Cr
P/E 8.8
PEG —
Profit -33% below its own trend Operating margin contracted 371 bps YoY All of pre-tax profit came from other income or one-off items FY25 operating cash flow was only 9% of profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-3.2% -0.1%
241 241 249 Operating profit
-35.3% -14.2%
18.0 21.0 27.8 OPM %
-371 bps -123 bps
7.5% 8.7% 11.2% Other income
-24.8% -24.5%
52.0 68.9 69.2 Net profit?
-32.2% -34.8%
35.0 53.6 51.6 PAT margin %
-621 bps -771 bps
14.5% 22.2% 20.7% EPS (₹)
-32.1% -35.1%
0.74 1.14 1.09
Quality of profit
Pre-tax profit ₹111 Cr: core business −₹30.5 Cr, other income ₹52.0 Cr, exceptional & other items ₹89.5 Cr.
Core profit YoY: loss widened
· reported profit -32.2%
Cash & debt
FY25 cash from operations ₹18.0 Cr:
9% of FY25 net profit of ₹197 Cr.
Borrowings ₹23.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹239 ₹241
+1.0% in line Net profit ₹51.9 ₹35.0
-32.5% below
All of pre-tax profit came from other income or one-off items
₹ Cr QoQ
Sep 2025 Jun 2025
Sales
to loss -7.5 11.0 Operating profit
to loss -12.9 9.2 Other income
—
17.7 0.0 Net profit
+7.0%
5.0 4.7 PAT margin %
-10946 bps
-66.9% 42.6% EPS (₹)
+6.6%
0.65 0.61
Quality of profit
Pre-tax profit ₹3.3 Cr: core business −₹14.5 Cr, other income ₹17.7 Cr.
M Cap ₹1,292 Cr
P/E 30.7
PEG 1.62
Profit -59% below its own trend Operating margin contracted 694 bps YoY 62% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -80%)
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-50.1% -50.8%
33.2 67.6 66.6 Operating profit
-65.4% -57.6%
5.2 12.3 15.1 OPM %
-694 bps -251 bps
15.7% 18.2% 22.6% Other income
-30.2% -47.2%
4.3 8.1 6.1 Net profit
-59.0% -63.1%
5.3 14.5 13.1 PAT margin %
-351 bps -533 bps
16.1% 21.4% 19.6% EPS (₹)
-59.1% -63.1%
9.27 25.10 22.64
Quality of profit
Pre-tax profit ₹6.9 Cr: core business ₹2.6 Cr, other income ₹4.3 Cr.
Core profit YoY: -80.0%
· reported profit -59.0%
Cash & debt
FY25 cash from operations ₹33.0 Cr:
67% of FY25 net profit of ₹48.9 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹63.9 ₹33.2
-48.0% below Net profit ₹12.9 ₹5.3
-58.7% below
M Cap ₹1,273 Cr
P/E 15.0
PEG 0.03
Profit -42% below its own trend Operating margin contracted 212 bps YoY 57% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +130%) Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-0.4% +20.4%
188 156 189 Operating profit
-31.4% +21.8%
8.8 7.2 12.8 OPM %
-212 bps +5 bps
4.7% 4.6% 6.8% Other income
-11.4% -36.6%
10.8 17.0 12.2 Net profit?
+15.1% +24.1%
15.0 12.1 13.1 PAT margin %
+108 bps +24 bps
8.0% 7.8% 6.9% EPS (₹)
-15.3% +24.3%
2.10 1.69 2.48
Quality of profit
Pre-tax profit ₹19.0 Cr: core business ₹8.2 Cr, other income ₹10.8 Cr.
Core profit YoY: +129.6%
· reported profit +15.1%
Cash & debt
FY25 cash from operations −₹84.0 Cr:
-175% of FY25 net profit of ₹48.1 Cr.
Borrowings ₹369 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹140 ₹188
+33.8% above Net profit ₹26.1 ₹15.0
-42.4% below
M Cap ₹1,270 Cr
P/E 13.0
PEG 0.87
54% of pre-tax profit came from other income and one-off items FY25 operating cash flow was only 21% of profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+4.6% +1.0%
199 197 190 Operating profit
+4.1% +3.7%
14.6 14.1 14.0 OPM %
-3 bps +19 bps
7.3% 7.1% 7.4% Other income
+11.5% +39.7%
16.7 12.0 15.0 Net profit
+10.9% +24.9%
25.5 20.4 23.0 PAT margin %
+73 bps +246 bps
12.8% 10.4% 12.1% EPS (₹)
+12.9% +25.0%
20.44 16.35 18.11
Quality of profit
Pre-tax profit ₹30.9 Cr: core business ₹14.2 Cr, other income ₹16.7 Cr.
Core profit YoY: +1.4%
· reported profit +10.9%
Cash & debt
FY25 cash from operations ₹18.0 Cr:
21% of FY25 net profit of ₹83.7 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹202 ₹199
-1.7% in line Net profit ₹25.2 ₹25.5
+1.3% in line
M Cap ₹1,250 Cr
P/E 19.1
PEG 9.56
Profit +35% above its own trend 28% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +6%)
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+5.4% -20.1%
255 320 242 Operating profit
+2.5% -23.6%
26.2 34.4 25.6 OPM %
-29 bps -47 bps
10.3% 10.8% 10.6% Other income
+259.8% +63.9%
6.1 3.7 1.7 Net profit?
+49.9% -10.1%
18.5 20.6 12.4 PAT margin %
+216 bps +81 bps
7.3% 6.5% 5.1% EPS (₹)
+49.9% -10.2%
15.12 16.83 10.09
Quality of profit
Pre-tax profit ₹21.9 Cr: core business ₹15.8 Cr, other income ₹6.1 Cr.
Core profit YoY: +6.2%
· reported profit +49.9%
Cash & debt
FY25 cash from operations ₹25.0 Cr:
64% of FY25 net profit of ₹38.9 Cr.
Borrowings ₹168 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹246 ₹255
+3.9% in line Net profit ₹13.7 ₹18.5
+35.2% above
M Cap ₹1,232 Cr
P/E 6.0
PEG —
Profit +135% above its own trend 40% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +19%) Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+7.6% +4.7%
817 781 760 Operating profit
+15.1% -17.6%
76.9 93.3 66.8 OPM %
+61 bps -255 bps
9.4% 12.0% 8.8% Other income
— +45.7%
25.5 17.5 1.6 Net profit?
+74.1% -8.2%
61.2 66.7 35.2 PAT margin %
+286 bps -106 bps
7.5% 8.5% 4.6% EPS (₹)
+74.0% -8.2%
3.01 3.28 1.73
Quality of profit
Pre-tax profit ₹92.2 Cr: core business ₹55.7 Cr, other income ₹25.5 Cr, exceptional & other items ₹11.0 Cr.
Core profit YoY: +19.1%
· reported profit +74.1%
Cash & debt
FY25 cash from operations −₹38.0 Cr:
-27% of FY25 net profit of ₹142 Cr.
Borrowings ₹722 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹781 ₹817
+4.7% in line Net profit ₹26.0 ₹61.2
+135.1% above
M Cap ₹1,225 Cr
P/E 35.8
PEG —
29% of pre-tax profit came from other income and one-off items
₹ Cr QoQ
Sep 2025 Jun 2025
Sales
-6.7%
147 158 Operating profit
-43.8%
16.2 28.7 OPM %
-724 bps
11.0% 18.2% Other income
+166.7%
1.6 0.6 Net profit
-68.1%
4.1 12.8 PAT margin %
-534 bps
2.8% 8.1% EPS (₹)
-70.5%
0.72 2.44
Quality of profit
Pre-tax profit ₹5.6 Cr: core business ₹4.0 Cr, other income ₹1.6 Cr.
M Cap ₹1,222 Cr
P/E 8.3
PEG 1.19
Profit -42% below its own trend 32% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -25%)
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-23.8% +1.8%
409 402 536 Operating profit
-16.8% +59.0%
31.6 19.9 38.0 OPM %
+65 bps +279 bps
7.7% 5.0% 7.1% Other income
+18.9% -39.0%
8.3 13.6 7.0 Net profit?
+6.3% +45.2%
22.3 15.4 21.0 PAT margin %
+155 bps +163 bps
5.5% 3.8% 3.9% EPS (₹)
+4.4% +45.2%
10.22 7.04 9.79
Quality of profit
Pre-tax profit ₹25.4 Cr: core business ₹17.3 Cr, other income ₹8.3 Cr.
Core profit YoY: -24.6%
· reported profit +6.3%
Cash & debt
FY25 cash from operations ₹118 Cr:
179% of FY25 net profit of ₹65.8 Cr.
Borrowings ₹37.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹547 ₹409
-25.3% below Net profit ₹38.2 ₹22.3
-41.5% below
M Cap ₹1,204 Cr
P/E 59.4
PEG —
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
-100.0% -100.0%
0.0 5.9 30.5 Operating profit
loss widened loss widened -1.1 -0.8 -0.5 Other income
+423.1% —
24.4 0.3 4.7 Net profit
+500.0% from loss 23.2 -0.7 3.9 EPS (₹)
+494.6% from loss 3.33 -0.11 0.56
Quality of profit
Pre-tax profit ₹23.2 Cr: core business −₹1.3 Cr, other income ₹24.4 Cr.
Core profit YoY: loss widened
· reported profit +500.0%
Cash & debt
FY25 cash from operations −₹3.0 Cr:
-1107% of FY25 net profit of ₹0.3 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹51.4 ₹0.0
-100.0% below
M Cap ₹1,203 Cr
P/E 5.6
PEG 0.51
Profit -16% below its own trend 31% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+47.0% +92.0%
2,155 1,123 1,466 Operating profit
+64.9% —
95.5 5.3 57.9 OPM %
+48 bps +396 bps
4.4% 0.5% 3.9% Other income
+196.8% +218.9%
36.1 11.3 12.2 Net profit?
+68.0% —
89.8 0.6 53.4 PAT margin %
+52 bps +411 bps
4.2% 0.1% 3.6% EPS (₹)
+72.1% —
1.79 0.02 1.04
Quality of profit
Pre-tax profit ₹117 Cr: core business ₹80.9 Cr, other income ₹36.1 Cr.
Core profit YoY: +77.4%
· reported profit +68.0%
Cash & debt
FY25 cash from operations ₹124 Cr:
141% of FY25 net profit of ₹87.7 Cr.
Borrowings ₹535 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,747 ₹2,155
+23.4% above Net profit ₹107 ₹89.8
-16.0% below
M Cap ₹1,196 Cr
P/E 29.1
PEG 1.71
Profit -55% below its own trend 67% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-9.6% -10.0%
299 332 330 Operating profit
-20.0% -39.5%
17.1 28.2 21.4 OPM %
-75 bps -279 bps
5.7% 8.5% 6.5% Other income
-7.2% +3.2%
4.3 4.1 4.6 Net profit
-51.5% -62.0%
4.8 12.5 9.8 PAT margin %
-138 bps -218 bps
1.6% 3.8% 3.0% EPS (₹)
-51.3% -61.8%
0.55 1.44 1.13
Quality of profit
Pre-tax profit ₹6.4 Cr: core business ₹2.1 Cr, other income ₹4.3 Cr.
Core profit YoY: -68.3%
· reported profit -51.5%
Cash & debt
FY25 cash from operations ₹105 Cr:
282% of FY25 net profit of ₹37.3 Cr.
Borrowings ₹294 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹335 ₹299
-10.8% below Net profit ₹10.6 ₹4.8
-55.2% below
M Cap ₹1,155 Cr
P/E 4.6
PEG —
Operating margin contracted 476 bps YoY 96% 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
-57.1% +0.0%
3.0 3.0 7.0 Operating profit
-60.0% -33.3%
2.0 3.0 5.0 OPM %
-476 bps -3333 bps
66.7% 100.0% 71.4% Other income
-3.5% -8.3%
55.0 60.0 57.0 Net profit?
-6.1% -27.0%
46.0 63.0 49.0 EPS (₹)
-6.6% -26.3%
144.51 196.08 154.72
Quality of profit
Pre-tax profit ₹57.0 Cr: core business ₹2.0 Cr, other income ₹55.0 Cr.
Core profit YoY: -60.0%
· reported profit -6.1%
Cash & debt
FY25 cash from operations −₹6.0 Cr:
-2% of FY25 net profit of ₹258 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹3.5 ₹3.0
-14.3% below Net profit ₹51.1 ₹46.0
-10.0% in line
M Cap ₹1,154 Cr
P/E 124.6
PEG 2.90
Profit -95% below its own trend All of pre-tax profit came from other income or one-off items Exceptional items of ₹-2.6 Cr in the quarter
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+15.7% +24.8%
105 84.1 90.7 Operating profit
loss widened loss narrowed -1.2 -9.8 -1.1 OPM %
+5 bps +1059 bps
-1.1% -11.7% -1.2% Other income
-39.1% -42.8%
13.6 23.7 22.3 Net profit?
-94.6% -84.4%
0.7 4.2 12.1 PAT margin %
-1276 bps -436 bps
0.6% 5.0% 13.4% EPS (₹)
-88.6% -68.8%
0.10 0.32 0.88
Quality of profit
Pre-tax profit ₹2.3 Cr: core business −₹8.7 Cr, other income ₹13.6 Cr, exceptional & other items −₹2.6 Cr.
Core profit YoY: loss widened
· reported profit -94.6%
Cash & debt
FY25 cash from operations ₹29.0 Cr:
60% of FY25 net profit of ₹48.0 Cr.
Borrowings ₹6.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹103 ₹105
+2.1% in line Net profit ₹12.6 ₹0.7
-94.8% below
M Cap ₹1,151 Cr
P/E 16.2
PEG —
Profit -71% below its own trend Operating margin contracted 715 bps YoY 27% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+0.5% -12.7%
270 310 269 Operating profit
-39.0% -29.1%
29.9 42.2 49.0 OPM %
-715 bps -257 bps
11.1% 13.6% 18.2% Other income
-7.0% -39.0%
7.4 12.2 8.0 Net profit?
-41.1% -37.2%
21.2 33.8 36.0 PAT margin %
-554 bps -307 bps
7.8% 10.9% 13.4% EPS (₹)
-40.6% -37.3%
16.85 26.86 28.38
Quality of profit
Pre-tax profit ₹27.5 Cr: core business ₹20.0 Cr, other income ₹7.4 Cr.
Core profit YoY: -48.6%
· reported profit -41.1%
Cash & debt
FY25 cash from operations ₹62.0 Cr:
72% of FY25 net profit of ₹85.6 Cr.
Borrowings ₹12.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹304 ₹270
-11.0% below Net profit ₹72.0 ₹21.2
-70.6% below
M Cap ₹1,150 Cr
P/E 73.1
PEG 1.87
All of pre-tax profit came from other income or one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-30.3% +102.7%
240 118 345 Operating profit
-41.0% +105.4%
9.4 4.6 15.9 OPM %
-71 bps +5 bps
3.9% 3.9% 4.6% Other income
+25.0% -5.6%
3.6 3.8 2.9 Net profit?
-23.9% +110.1%
4.0 1.9 5.3 PAT margin %
+14 bps +6 bps
1.7% 1.6% 1.5% EPS (₹)
-25.3% +106.3%
0.26 adj. 0.13adj. 0.35
EPS restated for the ₹10 to ₹1 split of Apr 2026: Jun 2025 ₹1.26 to ₹0.13; Sep 2024 ₹3.48 to ₹0.35.
Quality of profit
Pre-tax profit ₹8.5 Cr: core business −₹0.8 Cr, other income ₹3.6 Cr, exceptional & other items ₹5.8 Cr.
Core profit YoY: to loss
· reported profit -23.9%
Cash & debt
FY25 cash from operations ₹14.0 Cr:
89% of FY25 net profit of ₹15.8 Cr.
Borrowings ₹114 Cr at Mar 2025.
M Cap ₹1,134 Cr
P/E 44.5
PEG —
37% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +3%)
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+16.7% +26.7%
185 146 159 Operating profit
+9.9% -5.2%
12.7 13.4 11.5 OPM %
-43 bps -230 bps
6.8% 9.1% 7.3% Other income
— +778.4%
3.8 0.4 0.2 Net profit?
+53.2% +28.2%
7.6 5.9 5.0 PAT margin %
+98 bps +5 bps
4.1% 4.1% 3.1% EPS (₹)
+52.8% +26.9%
0.33 0.26 adj. 0.22
EPS restated for the ₹10 to ₹1 split of May 2025: Sep 2024 ₹2.16 to ₹0.22.
Quality of profit
Pre-tax profit ₹10.3 Cr: core business ₹6.6 Cr, other income ₹3.8 Cr.
Core profit YoY: +2.8%
· reported profit +53.2%
Cash & debt
FY25 cash from operations ₹19.0 Cr:
60% of FY25 net profit of ₹31.5 Cr.
Borrowings ₹118 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹305 ₹185
-39.3% below
M Cap ₹1,123 Cr
P/E 65.8
PEG —
Profit -22% below its own trend 41% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-3.1% -0.2%
176 176 182 Operating profit
-21.2% -7.6%
7.2 7.8 9.2 OPM %
-94 bps -33 bps
4.1% 4.4% 5.0% Other income
-58.6% -21.8%
0.4 0.5 1.0 Net profit?
-60.8% -47.0%
0.7 1.3 1.8 PAT margin %
-60 bps -36 bps
0.4% 0.8% 1.0% EPS (₹)
-60.7% -46.7%
0.24 0.45 0.61
Quality of profit
Pre-tax profit ₹1.0 Cr: core business ₹0.6 Cr, other income ₹0.4 Cr.
Core profit YoY: -55.6%
· reported profit -60.8%
Cash & debt
FY25 cash from operations ₹112 Cr:
2359% of FY25 net profit of ₹4.7 Cr.
Borrowings ₹111 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹183 ₹176
-3.7% in line Net profit ₹0.9 ₹0.7
-21.7% below
M Cap ₹1,121 Cr
P/E 25.0
PEG —
Profit -26% below its own trend Operating margin contracted 1272 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
-2.7% -2.5%
112 115 116 Operating profit
-85.3% -79.8%
2.5 12.6 17.3 OPM %
-1272 bps -867 bps
2.3% 10.9% 15.0% Other income
-17.4% +11.6%
7.1 6.4 8.6 Net profit?
-41.0% -7.6%
7.8 8.4 13.2 PAT margin %
-449 bps -38 bps
6.9% 7.3% 11.4% EPS (₹)
-39.1% -7.5%
3.60 3.89 5.91
Quality of profit
Pre-tax profit ₹9.7 Cr: core business −₹4.5 Cr, other income ₹7.1 Cr, exceptional & other items ₹7.0 Cr.
Core profit YoY: to loss
· reported profit -41.0%
Cash & debt
FY25 cash from operations ₹57.0 Cr:
126% of FY25 net profit of ₹45.3 Cr.
Borrowings ₹53.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹109 ₹112
+3.5% in line Net profit ₹10.5 ₹7.8
-26.0% below
M Cap ₹1,099 Cr
P/E 11.4
PEG 1.62
Profit -10% below its own trend Operating margin contracted 204 bps YoY 25% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+1.3% +6.0%
163 154 161 Operating profit
-10.4% +6.8%
25.4 23.8 28.4 OPM %
-204 bps +11 bps
15.6% 15.5% 17.6% Other income
-27.5% -52.6%
7.2 15.3 10.0 Net profit
-24.1% -27.8%
20.0 27.7 26.3 PAT margin %
-410 bps -573 bps
12.2% 18.0% 16.3% EPS (₹)
-24.1% -27.8%
9.98 13.82 13.15
Quality of profit
Pre-tax profit ₹28.8 Cr: core business ₹21.6 Cr, other income ₹7.2 Cr.
Core profit YoY: -13.0%
· reported profit -24.1%
Cash & debt
FY25 cash from operations ₹93.0 Cr:
113% of FY25 net profit of ₹82.3 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹168 ₹163
-2.5% in line Net profit ₹22.3 ₹20.0
-10.3% below
M Cap ₹1,099 Cr
P/E 55.5
PEG 11.09
Profit -49% below its own trend Operating margin contracted 454 bps YoY 54% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -50%) Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-4.7% -4.4%
48.8 51.0 51.2 Operating profit
-42.2% -15.5%
3.4 4.0 5.9 OPM %
-454 bps -92 bps
7.0% 7.9% 11.5% Other income
+26.5% +42.7%
2.9 2.0 2.3 Net profit?
-20.3% +7.1%
4.3 4.0 5.4 PAT margin %
-174 bps +95 bps
8.9% 7.9% 10.6% EPS (₹)
-18.8% +7.7%
0.56 0.52 0.69
Quality of profit
Pre-tax profit ₹5.5 Cr: core business ₹2.5 Cr, other income ₹2.9 Cr.
Core profit YoY: -49.8%
· reported profit -20.3%
Cash & debt
FY25 cash from operations −₹19.0 Cr:
-117% of FY25 net profit of ₹16.3 Cr.
Borrowings ₹13.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹39.2 ₹48.8
+24.3% above Net profit ₹8.4 ₹4.3
-48.5% below
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
