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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M Cap ₹372 Cr
P/E 19.1
PEG 0.50
Turnaround: profit against a loss a year ago Operating margin expanded 4164 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
+6.4% +13.9%
283 248 266 Operating profit
loss narrowed to loss -18.9 0.7 -128 OPM %
+4164 bps -696 bps
-6.7% 0.3% -48.3% Other income
+37.1% -51.5%
12.7 26.3 9.3 Net profit?
from loss -81.2%
4.0 21.2 -120 PAT margin %
+4659 bps -714 bps
1.4% 8.6% -45.2% EPS (₹)
from loss -77.2%
0.81 3.56 -20.12
Quality of profit
Pre-tax profit ₹5.5 Cr: core business −₹23.4 Cr, other income ₹12.7 Cr, exceptional & other items ₹16.1 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations ₹100 Cr.
Borrowings ₹264 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹263 ₹283
+7.4% above
M Cap ₹372 Cr
P/E 30.5
PEG —
Profit +100% above its own trend 33% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+20.5% -48.0%
21.8 42.0 18.1 Operating profit
+25.2% +64.8%
4.0 2.4 3.2 OPM %
+70 bps +1259 bps
18.4% 5.8% 17.7% Other income
+3.0% -28.0%
1.7 2.4 1.6 Net profit
+18.0% +19.1%
3.9 3.2 3.3 PAT margin %
-37 bps +998 bps
17.7% 7.7% 18.1% EPS (₹)
+18.0% +19.1%
7.29 6.12 6.18
Quality of profit
Pre-tax profit ₹5.2 Cr: core business ₹3.5 Cr, other income ₹1.7 Cr.
Core profit YoY: +25.4%
· reported profit +18.0%
Cash & debt
FY25 cash from operations ₹3.0 Cr:
178% of FY25 net profit of ₹1.7 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹19.9 ₹21.8
+9.8% above Net profit ₹1.9 ₹3.9
+99.9% above
Profit +112% above its own trend Operating margin contracted 129 bps YoY 50% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +0%)
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+17.9% -41.9%
125 215 106 Operating profit
+0.0% -55.0%
9.0 20.0 9.0 OPM %
-129 bps -210 bps
7.2% 9.3% 8.5% Other income
+0.0% -50.0%
1.0 2.0 1.0 Net profit
+50.0% -72.7%
3.0 11.0 2.0 PAT margin %
+51 bps -272 bps
2.4% 5.1% 1.9% EPS (₹)
+40.9% -74.8%
2.48 9.84 1.76
Quality of profit
Pre-tax profit ₹4.0 Cr: core business ₹2.0 Cr, other income ₹1.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +0.0%
· reported profit +50.0%
Cash & debt
FY25 cash from operations ₹54.0 Cr:
284% of FY25 net profit of ₹19.0 Cr.
Borrowings ₹78.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹103 ₹125
+20.9% above Net profit ₹1.4 ₹3.0
+111.8% above
M Cap ₹368 Cr
P/E 19.7
PEG —
Profit -40% below its own trend Operating margin contracted 220 bps YoY 33% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+1.0% +0.4%
152 151 150 Operating profit
-55.1% +35.5%
2.7 2.0 6.0 OPM %
-220 bps +46 bps
1.8% 1.3% 4.0% Other income
+21.0% -68.9%
1.3 4.1 1.1 Net profit
-43.9% -35.3%
2.9 4.5 5.1 PAT margin %
-152 bps -105 bps
1.9% 2.9% 3.4% EPS (₹)
-43.6% -35.0%
1.58 2.43 2.80
Quality of profit
Pre-tax profit ₹3.9 Cr: core business ₹2.6 Cr, other income ₹1.3 Cr.
Core profit YoY: -55.8%
· reported profit -43.9%
Cash & debt
FY25 cash from operations ₹24.0 Cr:
107% of FY25 net profit of ₹22.3 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹146 ₹152
+3.9% in line Net profit ₹4.8 ₹2.9
-40.0% below
M Cap ₹367 Cr
P/E 17.6
PEG 0.39
Profit -25% below its own trend Operating margin contracted 874 bps YoY All of pre-tax profit came from other income or one-off items Exceptional items of ₹3.5 Cr in the quarter Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+14.3% +7.9%
158 147 138 Operating profit
-97.7% -98.7%
0.3 21.6 12.3 OPM %
-874 bps -1457 bps
0.2% 14.7% 8.9% Other income
— +321.8%
17.0 4.0 0.1 Net profit?
+49.1% -73.8%
3.2 12.2 2.2 PAT margin %
+47 bps -631 bps
2.0% 8.3% 1.6% EPS (₹)
+51.2% -73.7%
3.75 14.28 2.48
Quality of profit
Pre-tax profit ₹18.9 Cr: core business −₹23.8 Cr, other income ₹17.0 Cr, exceptional & other items ₹25.6 Cr.
Core profit YoY: to loss
· reported profit +49.1%
Cash & debt
FY25 cash from operations −₹8.0 Cr:
-63% of FY25 net profit of ₹12.6 Cr.
Borrowings ₹272 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹163 ₹158
-3.2% in line Net profit ₹4.3 ₹3.2
-25.4% below
M Cap ₹367 Cr
P/E 9.2
PEG 0.08
Profit -41% below its own trend 33% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+10.9% +14.2%
173 152 156 Operating profit
+13.0% +28.0%
17.0 13.3 15.1 OPM %
+18 bps +106 bps
9.8% 8.8% 9.6% Other income
-19.4% -21.3%
1.0 1.3 1.2 Net profit
-39.4% -77.5%
3.0 13.3 5.0 PAT margin %
-144 bps -706 bps
1.7% 8.8% 3.2% EPS (₹)
-51.2% -79.9%
0.62 3.08 1.27
Quality of profit
Pre-tax profit ₹3.0 Cr: core business ₹2.0 Cr, other income ₹1.0 Cr.
Core profit YoY: -46.1%
· reported profit -39.4%
Cash & debt
FY25 cash from operations ₹66.0 Cr:
355% of FY25 net profit of ₹18.6 Cr.
Borrowings ₹287 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹158 ₹173
+9.6% above Net profit ₹5.1 ₹3.0
-41.3% below
M Cap ₹364 Cr
P/E 18.8
PEG —
43% of pre-tax profit came from other income and one-off items
₹ Cr QoQ
Sep 2025 Jun 2025
Sales
+0.0%
94.4 94.4 Operating profit
-0.1%
5.5 5.5 OPM %
-1 bps
5.8% 5.9% Other income
+0.1%
1.8 1.8 Net profit?
-0.1%
3.2 3.2 PAT margin %
-0 bps
3.4% 3.4% EPS (₹)
+0.0%
1.02 1.02
Quality of profit
Pre-tax profit ₹4.3 Cr: core business ₹2.4 Cr, other income ₹1.8 Cr.
M Cap ₹361 Cr
P/E 15.3
PEG —
Profit -93% below its own trend Operating margin contracted 504 bps YoY All of pre-tax profit came from other income or one-off items FY25 operating cash flow was only 36% of profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+13.9% -18.5%
193 236 169 Operating profit
-26.5% -27.7%
17.6 24.4 24.0 OPM %
-504 bps -117 bps
9.2% 10.3% 14.2% Other income
+28.7% -16.2%
2.6 3.1 2.0 Net profit?
-93.9% -90.5%
0.7 7.1 11.0 PAT margin %
-616 bps -266 bps
0.3% 3.0% 6.5% EPS (₹)
-94.8% -91.7%
0.08 0.96 1.53
Quality of profit
Pre-tax profit ₹1.0 Cr: core business −₹1.5 Cr, other income ₹2.6 Cr.
Core profit YoY: to loss
· reported profit -93.9%
Cash & debt
FY25 cash from operations ₹15.0 Cr:
36% of FY25 net profit of ₹41.7 Cr.
Borrowings ₹440 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹178 ₹193
+8.2% above Net profit ₹10.1 ₹0.7
-93.3% below
M Cap ₹354 Cr
P/E 10.2
PEG 0.46
Profit +81% above its own trend Operating margin expanded 389 bps YoY 40% 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
-0.8% +6.6%
33.7 31.6 34.0 Operating profit
+33.2% -9.3%
5.1 5.7 3.9 OPM %
+389 bps -269 bps
15.2% 17.9% 11.3% Other income
+65.7% -64.1%
1.8 5.0 1.1 Net profit?
+46.0% -43.9%
3.9 6.9 2.6 PAT margin %
+368 bps -1034 bps
11.5% 21.8% 7.8% EPS (₹)
+31.2% -47.5%
0.21 0.40 0.16
Quality of profit
Pre-tax profit ₹4.4 Cr: core business ₹2.6 Cr, other income ₹1.8 Cr.
Core profit YoY: +32.8%
· reported profit +46.0%
Cash & debt
FY25 cash from operations −₹9.0 Cr:
-52% of FY25 net profit of ₹17.3 Cr.
Borrowings ₹53.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹38.5 ₹33.7
-12.4% below Net profit ₹2.1 ₹3.9
+80.7% above
M Cap ₹353 Cr
P/E 69.6
PEG —
Profit -30% below its own trend Operating margin contracted 886 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
+7.5% +17.7%
48.8 41.4 45.4 Operating profit
-46.4% +0.1%
4.3 4.3 8.0 OPM %
-886 bps -154 bps
8.8% 10.3% 17.7% Other income
+9.3% -13.1%
0.6 0.7 0.5 Net profit?
-65.1% -20.7%
1.7 2.2 4.9 PAT margin %
-728 bps -170 bps
3.5% 5.2% 10.8% EPS (₹)
-65.8% -24.2%
0.25 0.33 0.73
Quality of profit
Pre-tax profit ₹2.3 Cr: core business ₹1.7 Cr, other income ₹0.6 Cr.
Core profit YoY: -71.6%
· reported profit -65.1%
Cash & debt
FY25 cash from operations ₹32.0 Cr:
211% of FY25 net profit of ₹15.2 Cr.
Borrowings ₹17.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹33.7 ₹48.8
+44.6% above Net profit ₹2.4 ₹1.7
-30.1% below
86% 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
-33.3% +0.0%
4.0 4.0 6.0 Operating profit
from loss from loss 6.0 -47.0 -17.0 Other income
-80.6% +47.1%
25.0 17.0 129 Net profit?
-79.2% from loss 20.0 -36.0 96.0 EPS (₹)
-85.0% from loss 9.04 -14.90 60.41
Quality of profit
Pre-tax profit ₹28.0 Cr: core business ₹4.0 Cr, other income ₹25.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: from loss
· reported profit -79.2%
Cash & debt
FY25 cash from operations −₹121 Cr:
-195% of FY25 net profit of ₹62.0 Cr.
Borrowings ₹185 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹3.0 ₹4.0
+33.3% above
Operating margin contracted 698 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
-0.7% +0.2%
21.2 21.2 21.4 Operating profit
to loss loss widened -0.6 -0.2 0.9 OPM %
-698 bps -174 bps
-2.7% -0.9% 4.3% Other income
-12.1% -26.2%
1.2 1.7 1.4 Net profit
loss widened to loss -5.6 1.1 -4.7 PAT margin %
-438 bps -3145 bps
-26.2% 5.3% -21.8% EPS (₹)
loss widened to loss -0.52 0.10 -0.44
Quality of profit
Pre-tax profit ₹0.6 Cr: core business −₹0.6 Cr, other income ₹1.2 Cr.
Core profit YoY: to loss
Cash & debt
FY25 cash from operations ₹14.3 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹21.9 ₹21.2
-2.8% in line
Profit -71% 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
+185.7% +255.0%
65.9 18.6 23.1 Operating profit
loss narrowed loss narrowed -1.5 -25.4 -35.1 OPM %
— —
-2.2% — — Other income
-86.2% -68.0%
11.2 34.9 80.9 Net profit
-60.8% +12.2%
3.3 3.0 8.5 PAT margin %
-3163 bps -1090 bps
5.0% 15.9% 36.7% EPS (₹)
-93.8% +15.8%
0.22 0.19 3.53
Quality of profit
Pre-tax profit ₹3.3 Cr: core business −₹7.8 Cr, other income ₹11.2 Cr.
Core profit YoY: loss narrowed
· reported profit -60.8%
Cash & debt
FY25 cash from operations ₹24.0 Cr:
160% of FY25 net profit of ₹15.0 Cr.
Borrowings ₹686 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹19.6 ₹65.9
+236.8% above Net profit ₹11.6 ₹3.3
-71.3% below
M Cap ₹350 Cr
P/E 11.4
PEG —
Profit +104% above its own trend Operating margin expanded 128 bps YoY 38% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+0.6% +12.7%
345 306 343 Operating profit
+17.9% +66.2%
30.1 18.1 25.5 OPM %
+128 bps +281 bps
8.7% 5.9% 7.5% Other income
+8.3% -25.3%
2.9 3.8 2.6 Net profit?
+41.1% from loss 7.1 -1.4 5.0 PAT margin %
+59 bps +252 bps
2.1% -0.5% 1.5% EPS (₹)
+40.8% from loss 2.07 -0.41 1.47
Quality of profit
Pre-tax profit ₹9.6 Cr: core business ₹6.0 Cr, other income ₹2.9 Cr, exceptional & other items ₹0.8 Cr.
Core profit YoY: +44.4%
· reported profit +41.1%
Cash & debt
FY25 cash from operations ₹77.0 Cr:
348% of FY25 net profit of ₹22.2 Cr.
Borrowings ₹454 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹378 ₹345
-8.8% below Net profit ₹3.5 ₹7.1
+103.8% above
M Cap ₹343 Cr
P/E 82.3
PEG 41.14
Profit -29% below its own trend 53% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -60%)
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-20.0% -17.7%
84.2 102 105 Operating profit
-29.1% +54.4%
2.6 1.7 3.7 OPM %
-41 bps +146 bps
3.1% 1.7% 3.5% Other income
— -49.0%
0.8 1.6 0.0 Net profit
-36.1% -25.5%
1.0 1.4 1.6 PAT margin %
-31 bps -13 bps
1.2% 1.3% 1.5% EPS (₹)
-36.8% -25.0%
0.36 0.48 0.57
Quality of profit
Pre-tax profit ₹1.5 Cr: core business ₹0.7 Cr, other income ₹0.8 Cr.
Core profit YoY: -60.0%
· reported profit -36.1%
Cash & debt
FY25 cash from operations ₹10.0 Cr:
249% of FY25 net profit of ₹4.0 Cr.
Borrowings ₹35.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹134 ₹84.2
-37.3% below Net profit ₹1.4 ₹1.0
-29.4% below
M Cap ₹342 Cr
P/E 18.3
PEG —
Profit -66% below its own trend Operating margin contracted 396 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
-10.3% +3.2%
130 126 145 Operating profit
-99.6% -99.4%
0.0 3.6 5.8 OPM %
-396 bps -285 bps
0.0% 2.9% 4.0% Other income
-9.8% +14.5%
2.8 2.4 3.1 Net profit
-80.1% -66.8%
1.2 3.6 6.0 PAT margin %
-324 bps -194 bps
0.9% 2.9% 4.2% EPS (₹)
-80.2% -66.8%
0.77 2.32 3.89
Quality of profit
Pre-tax profit ₹1.7 Cr: core business −₹1.1 Cr, other income ₹2.8 Cr.
Core profit YoY: to loss
· reported profit -80.1%
Cash & debt
FY25 cash from operations ₹52.0 Cr:
234% of FY25 net profit of ₹22.2 Cr.
Borrowings ₹28.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹91.9 ₹130
+41.4% above Net profit ₹3.5 ₹1.2
-65.9% below
M Cap ₹342 Cr
P/E 27.6
PEG 9.21
Profit +864% above its own trend Operating margin contracted 326 bps YoY 46% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +358%)
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+11.0% +54.6%
62.0 40.1 55.8 Operating profit
-4.1% -60.3%
12.8 32.3 13.4 OPM %
-326 bps -5999 bps
20.7% 80.7% 24.0% Other income
+658.8% +63.6%
2.3 1.4 0.3 Net profit
+381.8% -32.9%
4.0 6.0 0.8 PAT margin %
+503 bps -853 bps
6.5% 15.1% 1.5% EPS (₹)
+391.7% -31.0%
1.18 1.71 0.24
Quality of profit
Pre-tax profit ₹5.0 Cr: core business ₹2.7 Cr, other income ₹2.3 Cr.
Core profit YoY: +358.5%
· reported profit +381.8%
Cash & debt
FY25 cash from operations ₹48.0 Cr.
Borrowings ₹106 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹64.5 ₹62.0
-4.0% in line Net profit ₹0.4 ₹4.0
+863.6% above
Profit +100% above its own trend Operating margin contracted 141 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
+25.4% +29.0%
89.0 69.0 71.0 Operating profit
-100.0% loss narrowed 0.0 -1.0 1.0 OPM %
-141 bps +145 bps
0.0% -1.4% 1.4% Other income
+33.3% +0.0%
4.0 4.0 3.0 Net profit
+0.0% +0.0%
2.0 2.0 2.0 PAT margin %
-57 bps -65 bps
2.2% 2.9% 2.8% EPS (₹)
+63.2% +40.9%
0.31 0.22 0.19
Quality of profit
Pre-tax profit ₹3.0 Cr: core business −₹1.0 Cr, other income ₹4.0 Cr.
Core profit YoY: —
· reported profit +0.0%
Cash & debt
FY25 cash from operations ₹26.0 Cr:
217% of FY25 net profit of ₹12.0 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹80.6 ₹89.0
+10.5% above Net profit ₹1.0 ₹2.0
+100.0% above
Profit -69% below its own trend Operating margin contracted 629 bps YoY 66% 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
-11.7% +7.0%
296 276 335 Operating profit
-50.0% -23.8%
24.3 31.9 48.6 OPM %
-629 bps -332 bps
8.2% 11.5% 14.5% Other income
+17.8% +72.9%
2.2 1.3 1.9 Net profit
-84.6% -47.9%
3.6 7.0 23.7 PAT margin %
-585 bps -130 bps
1.2% 2.5% 7.1% EPS (₹)
-84.7% -48.2%
0.29 0.56 1.90
Quality of profit
Pre-tax profit ₹3.4 Cr: core business ₹1.1 Cr, other income ₹2.2 Cr.
Core profit YoY: -96.2%
· reported profit -84.6%
Cash & debt
FY25 cash from operations −₹207 Cr:
-353% of FY25 net profit of ₹58.6 Cr.
Borrowings ₹707 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹347 ₹296
-14.8% below Net profit ₹11.9 ₹3.6
-69.2% below
M Cap ₹333 Cr
P/E 17.6
PEG 0.33
Turnaround: profit against a loss a year ago Operating margin expanded 828 bps YoY 56% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+14.4% +0.7%
125 124 109 Operating profit
from loss +9.6%
6.9 6.3 -3.0 OPM %
+828 bps +45 bps
5.6% 5.1% -2.7% Other income
from loss +2.3%
5.7 5.6 -0.7 Net profit?
from loss +3.2%
7.2 6.9 -7.3 PAT margin %
+1248 bps +14 bps
5.7% 5.6% -6.7% EPS (₹)
from loss +3.4%
0.30 0.29 -0.32
Quality of profit
Pre-tax profit ₹10.2 Cr: core business ₹4.5 Cr, other income ₹5.7 Cr.
Core profit YoY: from loss
Cash & debt
FY25 cash from operations ₹12.0 Cr.
Borrowings ₹79.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹116 ₹125
+7.6% above
M Cap ₹323 Cr
P/E 74.5
PEG 2.48
Turnaround: profit against a loss a year ago Operating margin expanded 1622 bps YoY 51% 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
+21.0% +10.4%
37.7 34.2 31.2 Operating profit
from loss from loss 3.3 -0.6 -2.4 OPM %
+1622 bps +1031 bps
8.7% -1.6% -7.6% Other income
-26.8% -9.8%
2.3 2.6 3.2 Net profit?
from loss +346.5%
3.6 0.8 -0.5 PAT margin %
+1116 bps +724 bps
9.6% 2.4% -1.5% EPS (₹)
from loss +348.1%
3.63 0.81 -0.48
Quality of profit
Pre-tax profit ₹4.6 Cr: core business ₹2.3 Cr, other income ₹2.3 Cr.
Core profit YoY: from loss
Cash & debt
FY25 cash from operations −₹19.0 Cr:
-2246% of FY25 net profit of ₹0.8 Cr.
Borrowings ₹5.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹44.7 ₹37.7
-15.6% below
M Cap ₹318 Cr
P/E 17.3
PEG —
Profit -19% below its own trend Operating margin contracted 1762 bps YoY 35% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-6.6% +20.8%
40.2 33.3 43.1 Operating profit
-64.1% +850.2%
4.4 0.5 12.3 OPM %
-1762 bps +962 bps
11.0% 1.4% 28.6% Other income
+261.0% -22.3%
1.5 2.0 0.4 Net profit?
-59.6% +372.5%
3.2 0.7 8.0 PAT margin %
-1054 bps +598 bps
8.0% 2.1% 18.6% EPS (₹)
-60.0% +366.7%
1.12 0.24 2.80
Quality of profit
Pre-tax profit ₹4.3 Cr: core business ₹2.8 Cr, other income ₹1.5 Cr.
Core profit YoY: -73.0%
· reported profit -59.6%
Cash & debt
FY25 cash from operations ₹24.0 Cr:
197% of FY25 net profit of ₹12.2 Cr.
Borrowings ₹7.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹35.6 ₹40.2
+13.0% above Net profit ₹4.0 ₹3.2
-19.2% below
M Cap ₹318 Cr
P/E 11.5
PEG —
Into loss: a profit a year ago Operating margin contracted 111 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
-8.0% -5.4%
239 253 260 Operating profit
-28.8% -41.8%
9.1 15.7 12.8 OPM %
-111 bps -239 bps
3.8% 6.2% 4.9% Other income
-69.1% -64.6%
0.3 0.8 0.9 Net profit?
to loss to loss -2.4 1.6 6.7 PAT margin %
-360 bps -165 bps
-1.0% 0.6% 2.6% EPS (₹)
to loss to loss -1.04 0.85 3.60
Quality of profit
Pre-tax profit ₹10.8 Cr: core business −₹12.2 Cr, other income ₹0.3 Cr, exceptional & other items ₹22.7 Cr.
Core profit YoY: loss widened
Cash & debt
FY25 cash from operations ₹66.0 Cr:
1100% of FY25 net profit of ₹6.0 Cr.
Borrowings ₹338 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹251 ₹239
-5.0% in line
M Cap ₹315 Cr
P/E 11.4
PEG 0.06
Profit -15% below its own trend 30% of pre-tax profit came from other income and one-off items Borrowings up 28% since Mar 2025
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+3.3% +14.4%
143 125 138 Operating profit
+4.1% +2.7%
24.3 23.6 23.3 OPM %
+12 bps -193 bps
17.0% 18.9% 16.8% Other income
+80.9% +205.9%
2.0 0.7 1.1 Net profit?
-5.5% +2.2%
5.1 5.0 5.4 PAT margin %
-33 bps -43 bps
3.6% 4.0% 3.9% EPS (₹)
+8.4% +2.4%
3.37 3.29 3.11
Quality of profit
Pre-tax profit ₹6.6 Cr: core business ₹4.6 Cr, other income ₹2.0 Cr.
Core profit YoY: -23.1%
· reported profit -5.5%
Cash & debt
FY25 cash from operations ₹37.0 Cr:
173% of FY25 net profit of ₹21.3 Cr.
Borrowings ₹280 Cr at Sep 2025, against ₹219 Cr at Mar 2025 (+28% ).
Against its own trend ?
Trend Actual Gap
Sales ₹154 ₹143
-6.9% below Net profit ₹6.0 ₹5.1
-14.8% below
Operating margin expanded 8000 bps YoY 35% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+79.8% from loss 27.8 -0.6 15.5 Operating profit
from loss from loss 13.8 -1.1 -4.7 OPM %
+8000 bps —
49.8% — -30.2% Other income
-81.1% -4.8%
6.5 6.8 34.2 Net profit
+23.5% -59.9%
10.2 25.5 8.3 PAT margin %
-1674 bps —
36.7% — 53.4% EPS (₹)
+12.5% -60.0%
1.98 4.95 1.76
Quality of profit
Pre-tax profit ₹18.8 Cr: core business ₹12.3 Cr, other income ₹6.5 Cr.
Core profit YoY: from loss
· reported profit +23.5%
Against its own trend ?
Trend Actual Gap
Sales ₹7.7 ₹27.8
+259.6% above
M Cap ₹309 Cr
P/E 11.4
PEG 0.60
Turnaround: profit against a loss a year ago Operating margin expanded 1424 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
+54.1% +15.4%
134 116 87.2 Operating profit
loss narrowed to loss -0.7 8.2 -12.9 OPM %
+1424 bps -755 bps
-0.5% 7.0% -14.7% Other income
+716.3% +321.0%
11.8 2.8 1.4 Net profit?
from loss +7.7%
6.4 6.0 -11.6 PAT margin %
+1807 bps -34 bps
4.8% 5.1% -13.3% EPS (₹)
from loss +7.7%
3.48 3.23 -6.28
Quality of profit
Pre-tax profit ₹6.4 Cr: core business −₹5.3 Cr, other income ₹11.8 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations ₹23.0 Cr.
Borrowings ₹103 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹81.4 ₹134
+65.1% above
M Cap ₹308 Cr
P/E 24.1
PEG 0.86
Profit +999% above its own trend Operating margin contracted 3692 bps YoY 79% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +146%)
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+894.3% +481.7%
33.9 5.8 3.4 Operating profit
+48.0% +3.8%
2.2 2.1 1.5 OPM %
-3692 bps -2972 bps
6.5% 36.2% 43.4% Other income
+202.4% —
3.8 0.2 1.3 Net profit?
+677.4% —
3.6 0.3 0.5 PAT margin %
-293 bps +613 bps
10.5% 4.4% 13.5% EPS (₹)
+176.4% +434.8%
2.46 0.46 0.89
Quality of profit
Pre-tax profit ₹4.8 Cr: core business ₹1.0 Cr, other income ₹3.8 Cr.
Core profit YoY: +146.3%
· reported profit +677.4%
Cash & debt
FY25 cash from operations ₹5.0 Cr:
135% of FY25 net profit of ₹3.7 Cr.
Borrowings ₹8.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹2.8 ₹33.9
+999.0% above Net profit ₹0.2 ₹3.6
+999.0% above
M Cap ₹299 Cr
P/E 22.7
PEG 0.24
Profit -84% below its own trend Operating margin contracted 318 bps YoY 70% 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
+37.6% +131.0%
66.8 28.9 48.5 Operating profit
-39.8% -47.8%
1.6 3.2 2.7 OPM %
-318 bps -847 bps
2.5% 10.9% 5.6% Other income
-1.9% -10.8%
0.6 0.7 0.6 Net profit?
-67.8% -68.1%
0.8 2.5 2.5 PAT margin %
-389 bps -743 bps
1.2% 8.6% 5.1% EPS (₹)
-80.0% -66.7%
0.01 0.03 0.05
Quality of profit
Pre-tax profit ₹0.9 Cr: core business ₹0.3 Cr, other income ₹0.6 Cr.
Core profit YoY: -85.2%
· reported profit -67.8%
Cash & debt
FY25 cash from operations −₹47.0 Cr:
-144% of FY25 net profit of ₹32.6 Cr.
Borrowings ₹18.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹77.0 ₹66.8
-13.3% below Net profit ₹4.9 ₹0.8
-83.9% below
Profit -21% below its own trend Operating margin expanded 1543 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
+30.1% +10.0%
7.8 7.1 6.0 Operating profit
— to loss -4.0 4.5 -4.0 OPM %
+1543 bps -11438 bps
-51.2% 63.1% -66.7% Other income
-28.6% -9.1%
10.0 11.0 14.0 Net profit?
-27.9% -6.5%
4.6 4.9 6.3 PAT margin %
— -1029 bps
58.4% 68.7% — EPS (₹)
-27.8% -6.7%
1.82 1.95 2.52
Quality of profit
Pre-tax profit ₹4.6 Cr: core business −₹5.0 Cr, other income ₹10.0 Cr.
Core profit YoY: —
· reported profit -27.9%
Cash & debt
FY25 cash from operations −₹28.9 Cr:
-141% of FY25 net profit of ₹20.5 Cr.
Borrowings ₹20.5 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹7.9 ₹7.8
-0.8% in line Net profit ₹5.8 ₹4.6
-21.0% below
Profit -71% below its own trend Operating margin contracted 260 bps YoY 57% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -78%)
₹ Cr YoY vs prev. half
Sep 2025 Mar 2025 Sep 2024
Sales
+35.9% +18.2%
145 123 107 Operating profit
-49.5% -62.9%
2.2 6.0 4.4 OPM %
-260 bps -334 bps
1.5% 4.9% 4.1% Other income
+445.1% -67.8%
1.0 3.0 0.2 Net profit?
-50.4% -73.3%
1.3 5.0 2.7 PAT margin %
-160 bps -315 bps
0.9% 4.1% 2.5% EPS (₹)
-53.5% -75.1%
1.01 4.06 2.17
Quality of profit
Pre-tax profit ₹1.7 Cr: core business ₹0.7 Cr, other income ₹1.0 Cr.
Core profit YoY: -78.4%
· reported profit -50.4%
Cash & debt
FY25 cash from operations ₹2.0 Cr.
Borrowings ₹1.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹176 ₹145
-17.3% below Net profit ₹4.6 ₹1.3
-70.8% 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, 21:04 IST
