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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The next results season has started: 44 companies have filed results for the quarter ended 30 Sep 2026.
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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 ₹295 Cr
P/E 28.1
PEG 5.62
Profit -28% below its own trend 55% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +94%)
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+10.8% +8.2%
150 138 135 Operating profit
+16.5% +31.6%
6.6 5.0 5.6 OPM %
+21 bps +78 bps
4.4% 3.6% 4.2% Other income
-8.1% -42.0%
2.6 4.5 2.8 Net profit?
+39.3% -21.7%
3.1 3.9 2.2 PAT margin %
+42 bps -79 bps
2.1% 2.9% 1.6% EPS (₹)
+39.3% -21.7%
11.88 15.18 8.53
Quality of profit
Pre-tax profit ₹4.7 Cr: core business ₹2.1 Cr, other income ₹2.6 Cr.
Core profit YoY: +93.9%
· reported profit +39.3%
Cash & debt
FY25 cash from operations ₹21.0 Cr:
128% of FY25 net profit of ₹16.5 Cr.
Borrowings ₹81.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹145 ₹150
+3.5% in line Net profit ₹4.3 ₹3.1
-28.3% below
Profit -96% below its own trend Operating margin expanded 617 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
-8.9% +13.2%
67.2 59.4 73.7 Operating profit
from loss from loss 2.9 -0.3 -1.4 OPM %
+617 bps +475 bps
4.3% -0.4% -1.9% Other income
-95.6% -95.6%
1.2 27.7 27.7 Net profit?
-97.9% -97.8%
0.4 19.2 20.3 PAT margin %
-2685 bps -3163 bps
0.6% 32.3% 27.5% EPS (₹)
-97.8% -97.6%
0.04 1.69 1.79
Quality of profit
Pre-tax profit ₹0.9 Cr: core business −₹0.3 Cr, other income ₹1.2 Cr.
Core profit YoY: loss narrowed
· reported profit -97.9%
Cash & debt
FY25 cash from operations ₹48.0 Cr:
334% of FY25 net profit of ₹14.4 Cr.
Borrowings ₹99.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹61.1 ₹67.2
+10.0% above Net profit ₹10.9 ₹0.4
-96.2% below
M Cap ₹281 Cr
P/E 10.5
PEG —
Profit +999% above its own trend Operating margin expanded 1332 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
+69.2% +8.3%
36.0 33.2 21.3 Operating profit
+182.0% +20.3%
12.0 10.0 4.2 OPM %
+1332 bps +332 bps
33.3% 30.0% 20.0% Other income
+333.9% +1.8%
4.6 4.5 1.1 Net profit
— +44.9%
5.8 4.0 0.2 PAT margin %
+1537 bps +410 bps
16.2% 12.1% 0.9% EPS (₹)
— +45.1%
3.38 2.33 0.10
Quality of profit
Pre-tax profit ₹8.1 Cr: core business ₹3.6 Cr, other income ₹4.6 Cr.
Core profit YoY: from loss
Cash & debt
FY25 cash from operations ₹54.0 Cr:
332% of FY25 net profit of ₹16.3 Cr.
Borrowings ₹154 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹21.9 ₹36.0
+64.3% above Net profit ₹0.4 ₹5.8
+999.0% above
M Cap ₹280 Cr
P/E 72.2
PEG —
Profit -88% 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
-51.3% -59.6%
63.3 157 130 Operating profit
-57.6% from loss 0.4 -0.2 1.0 OPM %
-10 bps +81 bps
0.7% -0.1% 0.8% Other income
+898.4% -90.5%
0.2 2.6 0.0 Net profit
-94.2% -97.8%
0.0 1.6 0.6 PAT margin %
-43 bps -97 bps
0.1% 1.0% 0.5% EPS (₹)
-100.0% -100.0%
0.00 0.05 0.02
Quality of profit
Pre-tax profit ₹0.2 Cr: core business −₹0.1 Cr, other income ₹0.2 Cr.
Core profit YoY: to loss
· reported profit -94.2%
Cash & debt
FY25 cash from operations ₹45.0 Cr:
4131% of FY25 net profit of ₹1.1 Cr.
Borrowings ₹1.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹96.8 ₹63.3
-34.6% below Net profit ₹0.3 ₹0.0
-88.4% below
M Cap ₹275 Cr
P/E 28.8
PEG 0.61
Turnaround: profit against a loss a year ago Operating margin expanded 862 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
-0.9% -20.1%
49.6 62.0 50.0 Operating profit
from loss -50.7%
1.4 2.7 -3.0 OPM %
+862 bps -169 bps
2.7% 4.4% -5.9% Other income
+30.2% +530.8%
0.8 0.1 0.6 Net profit
from loss -56.1%
0.4 1.0 -2.8 PAT margin %
+639 bps -71 bps
0.9% 1.6% -5.5% EPS (₹)
from loss -57.1%
0.15 0.35 -0.99
Quality of profit
Pre-tax profit ₹0.6 Cr: core business −₹0.2 Cr, other income ₹0.8 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations −₹4.0 Cr:
-55% of FY25 net profit of ₹7.2 Cr.
Borrowings ₹25.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹59.1 ₹49.6
-16.1% below
M Cap ₹275 Cr
P/E 10.2
PEG 0.31
Profit -14% below its own trend Operating margin expanded 371 bps YoY 31% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +49%) FY25 operating cash flow was only 31% of profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+13.5% +2.5%
72.3 70.5 63.6 Operating profit
+52.8% +4.4%
10.4 10.0 6.8 OPM %
+371 bps +27 bps
14.4% 14.2% 10.7% Other income
-26.0% +516.5%
2.5 0.4 3.4 Net profit?
+10.2% +11.8%
7.2 6.5 6.6 PAT margin %
-30 bps +83 bps
10.0% 9.2% 10.3% EPS (₹)
+6.3% +11.8%
0.85 0.76 adj. 0.80
EPS restated for the ₹1 to ₹10 consolidation of Jun 2025: Sep 2024 ₹0.08 to ₹0.80.
Quality of profit
Pre-tax profit ₹8.0 Cr: core business ₹5.5 Cr, other income ₹2.5 Cr.
Core profit YoY: +49.3%
· reported profit +10.2%
Cash & debt
FY25 cash from operations ₹8.0 Cr:
31% of FY25 net profit of ₹25.7 Cr.
Borrowings ₹21.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹83.6 ₹72.3
-13.5% below Net profit ₹8.4 ₹7.2
-13.9% below
M Cap ₹274 Cr
P/E 465.0
PEG —
92% of pre-tax profit came from other income and one-off items
₹ Cr QoQ
Sep 2025 Jun 2025
Sales
-19.3%
17.8 22.1 Operating profit
+73.2%
4.5 2.6 OPM %
+1354 bps
25.3% 11.8% Other income
+904.2%
2.4 0.2 Net profit?
+684.2%
3.0 0.4 PAT margin %
+1499 bps
16.7% 1.7% EPS (₹)
+682.6%
1.80 0.23
Quality of profit
Pre-tax profit ₹9.5 Cr: core business ₹0.8 Cr, other income ₹2.4 Cr, exceptional & other items ₹6.3 Cr.
Cash & debt
FY25 cash from operations ₹6.0 Cr.
Borrowings ₹29.0 Cr at Mar 2025.
M Cap ₹271 Cr
P/E 10.8
PEG 0.04
Profit -19% below its own trend Operating margin contracted 266 bps YoY 35% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +65%)
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+86.0% -20.0%
74.0 92.6 39.8 Operating profit
+49.7% -8.1%
8.1 8.8 5.4 OPM %
-266 bps +142 bps
10.9% 9.5% 13.6% Other income
-1.0% +0.5%
3.7 3.7 3.8 Net profit?
+16.1% -9.5%
6.1 6.7 5.2 PAT margin %
-494 bps +96 bps
8.2% 7.3% 13.2% EPS (₹)
+15.4% -11.8%
0.15 0.17 0.13
Quality of profit
Pre-tax profit ₹10.6 Cr: core business ₹6.8 Cr, other income ₹3.7 Cr.
Core profit YoY: +65.0%
· reported profit +16.1%
Cash & debt
FY25 cash from operations ₹60.0 Cr:
293% of FY25 net profit of ₹20.5 Cr.
Borrowings ₹26.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹56.4 ₹74.0
+31.3% above Net profit ₹7.5 ₹6.1
-19.2% below
M Cap ₹269 Cr
P/E 26.4
PEG —
Profit -15% below its own trend 38% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +9%)
₹ Cr YoY vs prev. half
Sep 2025 Mar 2025 Sep 2024
Sales
+8.6% +5.3%
357 339 329 Operating profit
+1.8% -9.7%
6.3 7.0 6.2 OPM %
-12 bps -29 bps
1.8% 2.1% 1.9% Other income
+428.8% +141.2%
2.4 1.0 0.5 Net profit?
+70.6% +72.5%
5.2 3.0 3.0 PAT margin %
+53 bps +56 bps
1.4% 0.9% 0.9% EPS (₹)
+65.8% +60.9%
4.36 2.71 2.63
Quality of profit
Pre-tax profit ₹6.4 Cr: core business ₹4.0 Cr, other income ₹2.4 Cr.
Core profit YoY: +8.8%
· reported profit +70.6%
Cash & debt
FY25 cash from operations −₹32.0 Cr.
Borrowings ₹60.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹419 ₹357
-14.9% below Net profit ₹6.1 ₹5.2
-14.7% below
M Cap ₹261 Cr
P/E 5.4
PEG 0.17
Profit +30% above its own trend Operating margin expanded 185 bps YoY 26% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +145%)
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+2.7% -15.9%
175 208 170 Operating profit
+24.8% -29.7%
18.3 26.0 14.7 OPM %
+185 bps -205 bps
10.5% 12.5% 8.6% Other income
+85.5% +77.5%
3.7 2.1 2.0 Net profit
+116.1% -20.3%
10.5 13.1 4.8 PAT margin %
+314 bps -33 bps
6.0% 6.3% 2.8% EPS (₹)
+115.1% -20.3%
1.14 1.43 0.53
Quality of profit
Pre-tax profit ₹14.0 Cr: core business ₹10.3 Cr, other income ₹3.7 Cr.
Core profit YoY: +145.5%
· reported profit +116.1%
Cash & debt
FY25 cash from operations ₹31.0 Cr:
87% of FY25 net profit of ₹35.5 Cr.
Borrowings ₹282 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹209 ₹175
-16.2% below Net profit ₹8.0 ₹10.5
+30.3% above
M Cap ₹258 Cr
P/E 7.1
PEG 7.10
Profit +292% above its own trend Operating margin contracted 103 bps YoY 73% of pre-tax profit came from other income and one-off items Exceptional items of ₹2.1 Cr in the quarter Profit grew faster than the core business (core profit +44%) FY25 operating cash flow was only 47% of profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+36.2% -84.5%
43.8 284 32.2 Operating profit
+26.8% -84.1%
6.1 38.3 4.8 OPM %
-103 bps +43 bps
13.9% 13.5% 15.0% Other income
— +9.7%
1.9 1.8 0.1 Net profit?
+147.3% -92.6%
2.8 37.3 1.1 PAT margin %
+282 bps -686 bps
6.3% 13.1% 3.5% EPS (₹)
+164.2% -92.8%
1.40 19.58 0.53
Quality of profit
Pre-tax profit ₹5.5 Cr: core business ₹1.5 Cr, other income ₹1.9 Cr, exceptional & other items ₹2.1 Cr.
Core profit YoY: +44.4%
· reported profit +147.3%
Cash & debt
FY25 cash from operations ₹18.0 Cr:
47% of FY25 net profit of ₹38.6 Cr.
Borrowings ₹123 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹38.2 ₹43.8
+14.9% above Net profit ₹0.7 ₹2.8
+292.3% above
M Cap ₹251 Cr
P/E 43.5
PEG —
Profit +37% above its own trend Operating margin expanded 1770 bps YoY 79% of pre-tax profit came from other income and one-off items Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY
Sep 2025 Sep 2024
Sales
+37.9%
7.2 5.2 Operating profit
from loss 1.1 -0.1 OPM %
+1770 bps
15.2% -2.5% Other income
+12.2%
3.9 3.5 Net profit?
+122.0%
3.5 1.6 PAT margin %
+1866 bps
49.2% 30.6% EPS (₹)
+200.0%
0.09 0.03
Quality of profit
Pre-tax profit ₹4.9 Cr: core business ₹1.1 Cr, other income ₹3.9 Cr.
Core profit YoY: from loss
· reported profit +122.0%
Cash & debt
FY25 cash from operations −₹8.9 Cr:
-62% of FY25 net profit of ₹14.2 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹3.0 ₹7.2
+139.8% above Net profit ₹2.6 ₹3.5
+36.8% above
M Cap ₹248 Cr
P/E 41.3
PEG —
Operating margin contracted 388 bps YoY 43% of pre-tax profit came from other income and one-off items
₹ Cr YoY vs prev. half
Sep 2025 Mar 2025 Sep 2024
Sales
-5.4% +0.8%
108 107 114 Operating profit
-40.8% +127.4%
7.0 3.1 11.8 OPM %
-388 bps +361 bps
6.5% 2.9% 10.4% Other income
+31.1% +19.8%
3.0 2.5 2.3 Net profit?
-40.5% +115.0%
5.0 2.3 8.4 PAT margin %
-273 bps +246 bps
4.6% 2.2% 7.4% EPS (₹)
-42.3% +108.6%
4.59 2.20 7.95
Quality of profit
Pre-tax profit ₹7.0 Cr: core business ₹4.0 Cr, other income ₹3.0 Cr.
Core profit YoY: -53.6%
· reported profit -40.5%
Cash & debt
FY25 cash from operations −₹2.0 Cr.
Borrowings ₹2.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹133 ₹108
-18.9% below
M Cap ₹247 Cr
P/E 0.8
PEG 0.03
Profit +413% above its own trend Operating margin expanded 2335 bps YoY 27% 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
-4.2% +3.7%
61.7 59.5 64.4 Operating profit
from loss +548.2%
10.8 1.7 -3.8 OPM %
+2335 bps +1465 bps
17.4% 2.8% -5.9% Other income
-81.6% -54.0%
1.7 3.7 9.4 Net profit
+925.4% —
6.5 0.2 0.6 PAT margin %
+949 bps +1015 bps
10.5% 0.3% 1.0% EPS (₹)
+600.0% —
0.14 0.00 0.02
Quality of profit
Pre-tax profit ₹6.5 Cr: core business ₹4.7 Cr, other income ₹1.7 Cr.
Core profit YoY: from loss
· reported profit +925.4%
Cash & debt
FY25 cash from operations −₹98.0 Cr:
-656% of FY25 net profit of ₹14.9 Cr.
Borrowings ₹50.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹65.4 ₹61.7
-5.7% below Net profit ₹1.3 ₹6.5
+412.7% above
Operating margin expanded 435 bps YoY 91% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -90%)
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+66.5% +12.8%
164 146 98.7 Operating profit
+138.4% +35.4%
23.7 17.5 9.9 OPM %
+435 bps +240 bps
14.4% 12.0% 10.1% Other income
+146.6% +16.9%
4.9 4.2 2.0 Net profit?
+54.0% from loss 5.2 -3.7 3.4 PAT margin %
-26 bps +570 bps
3.2% -2.5% 3.4% EPS (₹)
+54.0% from loss 0.97 -0.69 0.63
Quality of profit
Pre-tax profit ₹5.4 Cr: core business ₹0.5 Cr, other income ₹4.9 Cr.
Core profit YoY: -89.8%
· reported profit +54.0%
Cash & debt
FY25 cash from operations ₹16.0 Cr.
Borrowings ₹264 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹121 ₹164
+36.4% above
M Cap ₹244 Cr
P/E 11.7
PEG —
Operating margin contracted 111 bps YoY 31% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +26%)
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+20.7% +9.8%
113 103 93.3 Operating profit
+9.3% +6.3%
12.0 11.3 11.0 OPM %
-111 bps -35 bps
10.6% 11.0% 11.8% Other income
+123.3% -50.7%
2.9 5.9 1.3 Net profit?
+53.7% -13.3%
7.1 8.2 4.6 PAT margin %
+136 bps -168 bps
6.3% 8.0% 5.0% EPS (₹)
+40.1% —
adj. 0.40— 0.28
EPS restated for the ₹2 to ₹1 split of Apr 2026: Sep 2025 ₹0.79 to ₹0.40.
Quality of profit
Pre-tax profit ₹9.3 Cr: core business ₹6.4 Cr, other income ₹2.9 Cr.
Core profit YoY: +26.0%
· reported profit +53.7%
Against its own trend ?
Trend Actual Gap
Sales ₹102 ₹113
+9.9% above Net profit ₹6.7 ₹7.1
+5.8% in line
M Cap ₹244 Cr
P/E 7.6
PEG 0.13
Profit +986% above its own trend Operating margin expanded 210 bps YoY 85% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+3.2% -13.1%
160 184 155 Operating profit
+47.7% -30.8%
11.1 16.1 7.5 OPM %
+210 bps -178 bps
7.0% 8.8% 4.9% Other income
+224.4% +294.6%
5.8 1.5 1.8 Net profit?
+619.6% -36.3%
3.7 5.8 0.5 PAT margin %
+197 bps -84 bps
2.3% 3.1% 0.3% EPS (₹)
+587.5% -36.0%
0.55 0.86 0.08
Quality of profit
Pre-tax profit ₹6.8 Cr: core business ₹1.0 Cr, other income ₹5.8 Cr.
Core profit YoY: from loss
· reported profit +619.6%
Cash & debt
FY25 cash from operations ₹5.0 Cr:
112% of FY25 net profit of ₹4.5 Cr.
Borrowings ₹411 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹215 ₹160
-25.6% below Net profit ₹0.3 ₹3.7
+985.8% above
M Cap ₹243 Cr
P/E 8.6
PEG 0.24
Profit +59% above its own trend Operating margin expanded 1209 bps YoY 78% 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
+53.9% -27.4%
19.0 26.2 12.3 Operating profit
+261.5% -40.7%
4.0 6.7 1.1 OPM %
+1209 bps -471 bps
21.1% 25.8% 9.0% Other income
+5.7% +208.7%
6.0 1.9 5.7 Net profit?
+57.9% +34.9%
7.0 5.2 4.4 PAT margin %
+94 bps +1703 bps
36.8% 19.8% 35.9% EPS (₹)
— +5.3%
0.79 0.75 2.19
No EPS growth against Sep 2024: ₹5 to ₹2 split in Dec 2024.
Quality of profit
Pre-tax profit ₹9.0 Cr: core business ₹2.0 Cr, other income ₹6.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: —
· reported profit +57.9%
Cash & debt
FY25 cash from operations −₹22.0 Cr:
-100% of FY25 net profit of ₹22.1 Cr.
Borrowings ₹170 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹10.6 ₹19.0
+79.5% above Net profit ₹4.4 ₹7.0
+59.4% above
Profit +24% above its own trend Operating margin contracted 130 bps YoY 51% of pre-tax profit came from other income and one-off items FY25 operating cash flow was only 36% of profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-5.9% +3.2%
104 101 111 Operating profit
-20.9% +13.9%
7.1 6.3 9.0 OPM %
-130 bps +64 bps
6.8% 6.2% 8.1% Other income
-44.9% -53.3%
5.5 11.9 10.1 Net profit
-10.3% +1.6%
13.0 12.8 14.5 PAT margin %
-62 bps -19 bps
12.5% 12.7% 13.1% EPS (₹)
-10.3% +1.6%
8.34 8.21 9.30
Quality of profit
Pre-tax profit ₹10.8 Cr: core business ₹5.3 Cr, other income ₹5.5 Cr.
Core profit YoY: -28.7%
· reported profit -10.3%
Cash & debt
FY25 cash from operations ₹15.0 Cr:
36% of FY25 net profit of ₹41.1 Cr.
Borrowings ₹5.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹107 ₹104
-2.9% in line Net profit ₹10.5 ₹13.0
+24.3% above
M Cap ₹241 Cr
P/E 29.4
PEG 2.10
Operating margin contracted 596 bps YoY All of pre-tax profit came from other income or one-off items
₹ Cr YoY vs prev. half
Sep 2025 Mar 2025 Sep 2024
Sales
+178.4% +88.2%
267 142 96.0 Operating profit
-20.9% +533.2%
6.3 1.0 8.0 OPM %
-596 bps +166 bps
2.4% 0.7% 8.3% Other income
-10.5% -34.0%
12.5 19.0 14.0 Net profit?
+3.4% -26.2%
5.2 7.0 5.0 PAT margin %
-327 bps -300 bps
1.9% 4.9% 5.2% EPS (₹)
+0.0% -26.7%
0.22 0.30 0.22
Quality of profit
Pre-tax profit ₹7.5 Cr: core business −₹5.1 Cr, other income ₹12.5 Cr.
Core profit YoY: loss narrowed
· reported profit +3.4%
Cash & debt
FY25 cash from operations ₹6.0 Cr.
Borrowings ₹147 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹151 ₹267
+76.8% above
M Cap ₹239 Cr
P/E 215.3
PEG —
Operating margin contracted 207 bps YoY All of pre-tax profit came from other income or one-off items
₹ Cr YoY vs prev. half
Sep 2025 Mar 2025 Sep 2024
Sales
+18.1% +8.4%
37.9 35.0 32.1 Operating profit
to loss —
-0.3 0.0 0.4 OPM %
-207 bps -78 bps
-0.8% 0.0% 1.3% Other income
+296.3% +96.4%
2.0 1.0 0.5 Net profit?
-50.4% —
0.1 0.0 0.2 PAT margin %
-40 bps +29 bps
0.3% 0.0% 0.7% EPS (₹)
-7.1% -68.3%
0.13 0.41 0.14
Quality of profit
Pre-tax profit ₹0.5 Cr: core business −₹1.5 Cr, other income ₹2.0 Cr.
Core profit YoY: loss widened
· reported profit -50.4%
Cash & debt
FY25 cash from operations −₹10.0 Cr.
Borrowings ₹11.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹32.3 ₹37.9
+17.4% above
M Cap ₹238 Cr
P/E 9.7
PEG 0.30
Profit -19% below its own trend 37% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-7.1% -2.1%
33.4 34.1 35.9 Operating profit
-4.5% +2.6%
6.7 6.5 7.0 OPM %
+56 bps +92 bps
20.1% 19.2% 19.5% Other income
+78.4% +66.8%
3.8 2.3 2.1 Net profit?
+10.5% +16.8%
7.4 6.3 6.7 PAT margin %
+353 bps +358 bps
22.1% 18.6% 18.6% EPS (₹)
+10.3% +16.6%
3.65 3.13 3.31
Quality of profit
Pre-tax profit ₹10.1 Cr: core business ₹6.4 Cr, other income ₹3.8 Cr.
Core profit YoY: -5.0%
· reported profit +10.5%
Cash & debt
FY25 cash from operations ₹22.0 Cr:
73% of FY25 net profit of ₹30.2 Cr.
Borrowings ₹1.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹42.1 ₹33.4
-20.8% below Net profit ₹9.2 ₹7.4
-19.4% below
M Cap ₹237 Cr
P/E 22.2
PEG —
Profit +18% above its own trend Operating margin contracted 141 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
-25.0% -32.3%
254 376 339 Operating profit
to loss to loss -2.5 2.2 1.5 OPM %
-141 bps -157 bps
-1.0% 0.6% 0.4% Other income
+109.3% +354.0%
4.3 0.9 2.0 Net profit?
-41.1% -55.8%
0.7 1.7 1.2 PAT margin %
-8 bps -15 bps
0.3% 0.4% 0.4% EPS (₹)
-100.0% -100.0%
0.00 0.01 0.01
Quality of profit
Pre-tax profit ₹0.9 Cr: core business −₹3.4 Cr, other income ₹4.3 Cr.
Core profit YoY: to loss
· reported profit -41.1%
Cash & debt
FY25 cash from operations −₹138 Cr:
-932% of FY25 net profit of ₹14.8 Cr.
Borrowings ₹106 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹263 ₹254
-3.4% in line Net profit ₹0.6 ₹0.7
+17.7% above
M Cap ₹235 Cr
P/E 1574.0
PEG —
Profit +38% above its own trend Operating margin contracted 300 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
+1.0% -3.6%
13.0 13.5 12.9 Operating profit
-33.0% -48.0%
0.8 1.5 1.1 OPM %
-300 bps -504 bps
5.9% 10.9% 8.9% Other income
+0.0% +42.1%
0.3 0.2 0.3 Net profit
+20.0% -77.8%
0.1 0.5 0.1 PAT margin %
+15 bps -307 bps
0.9% 4.0% 0.8% EPS (₹)
+20.0% -76.9%
0.06 0.26 0.05
Quality of profit
Pre-tax profit ₹0.1 Cr: core business −₹0.2 Cr, other income ₹0.3 Cr.
Core profit YoY: loss widened
· reported profit +20.0%
Cash & debt
FY25 cash from operations ₹2.7 Cr:
370% of FY25 net profit of ₹0.7 Cr.
Borrowings ₹3.4 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹13.3 ₹13.0
-2.3% in line Net profit ₹0.1 ₹0.1
+37.8% above
M Cap ₹233 Cr
P/E 35.3
PEG —
Profit -95% below its own trend Operating margin contracted 317 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
-72.0% -69.7%
12.8 42.3 45.7 Operating profit
-77.6% -75.2%
1.6 6.5 7.2 OPM %
-317 bps -280 bps
12.6% 15.4% 15.7% Other income
from loss -30.2%
0.7 1.0 -1.5 Net profit?
-92.3% -94.3%
0.2 3.4 2.5 PAT margin %
-404 bps -658 bps
1.5% 8.1% 5.6% EPS (₹)
-89.1% -92.1%
0.06 0.76 0.55
Quality of profit
Pre-tax profit ₹0.4 Cr: core business −₹0.4 Cr, other income ₹0.7 Cr.
Core profit YoY: to loss
· reported profit -92.3%
Cash & debt
FY25 cash from operations ₹23.3 Cr:
213% of FY25 net profit of ₹10.9 Cr.
Borrowings ₹63.9 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹43.0 ₹12.8
-70.2% below Net profit ₹3.7 ₹0.2
-94.7% below
Operating margin expanded 230 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
-5.0% -0.4%
121 122 128 Operating profit
+211.7% +33.3%
4.0 3.0 1.3 OPM %
+230 bps +84 bps
3.3% 2.5% 1.0% Other income
-40.5% +0.0%
2.0 2.0 3.4 Net profit?
-45.4% +2.2%
1.1 1.1 2.0 PAT margin %
-67 bps +2 bps
0.9% 0.9% 1.6% EPS (₹)
-30.7% +35.0%
1.85 1.37 2.67
Quality of profit
Pre-tax profit ₹1.5 Cr: core business ₹0.0 Cr, other income ₹2.0 Cr.
Core profit YoY: loss narrowed
· reported profit -45.4%
Cash & debt
FY25 cash from operations −₹56.0 Cr:
-46% of FY25 net profit of ₹122 Cr.
Borrowings ₹53.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹82.9 ₹121
+46.1% above Net profit ₹1.0 ₹1.1
+9.1% in line
M Cap ₹225 Cr
P/E 9.4
PEG 0.16
Turnaround: profit against a loss a year ago Operating margin expanded 883 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
+14.6% +3.9%
111 107 96.6 Operating profit
+112.2% +26.0%
21.3 16.9 10.0 OPM %
+883 bps +337 bps
19.2% 15.8% 10.4% Other income
+55.6% -44.4%
2.9 5.2 1.9 Net profit?
from loss +15.3%
7.5 6.5 -0.9 PAT margin %
+770 bps +67 bps
6.8% 6.1% -0.9% EPS (₹)
from loss +15.5%
1.94 1.68 -0.23
Quality of profit
Pre-tax profit ₹10.6 Cr: core business ₹7.7 Cr, other income ₹2.9 Cr.
Core profit YoY: from loss
Cash & debt
FY25 cash from operations ₹50.0 Cr:
523% of FY25 net profit of ₹9.6 Cr.
Borrowings ₹88.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹109 ₹111
+1.9% in line
M Cap ₹225 Cr
P/E 14.9
PEG —
Profit -72% below its own trend Operating margin contracted 1412 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
+14.1% +2.6%
22.8 22.3 20.0 Operating profit
to loss to loss -0.9 0.1 2.0 OPM %
-1412 bps -439 bps
-4.1% 0.3% 10.0% Other income
+49.0% +9.0%
4.5 4.1 3.0 Net profit?
-86.0% -26.3%
0.4 0.6 3.0 PAT margin %
-1316 bps -72 bps
1.8% 2.6% 15.0% EPS (₹)
-84.5% -27.3%
1.36 1.87 8.80
Quality of profit
Pre-tax profit ₹0.3 Cr: core business −₹4.2 Cr, other income ₹4.5 Cr.
Core profit YoY: —
· reported profit -86.0%
Cash & debt
FY25 cash from operations ₹28.0 Cr:
136% of FY25 net profit of ₹20.5 Cr.
Borrowings ₹37.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹11.9 ₹22.8
+91.1% above Net profit ₹1.5 ₹0.4
-72.0% below
M Cap ₹218 Cr
P/E 13.2
PEG 0.13
Profit +344% above its own trend Operating margin contracted 181 bps YoY 85% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -65%) Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+20.0% +89.8%
70.3 37.0 58.6 Operating profit
-33.9% +167.0%
1.6 0.6 2.4 OPM %
-181 bps +64 bps
2.2% 1.6% 4.0% Other income
— -30.4%
2.3 3.3 0.1 Net profit?
+177.9% -14.3%
1.9 2.2 0.7 PAT margin %
+151 bps -322 bps
2.7% 5.9% 1.1% EPS (₹)
+175.0% -14.2%
1.87 2.18 0.68
Quality of profit
Pre-tax profit ₹2.7 Cr: core business ₹0.4 Cr, other income ₹2.3 Cr.
Core profit YoY: -65.3%
· reported profit +177.9%
Cash & debt
FY25 cash from operations −₹6.0 Cr:
-91% of FY25 net profit of ₹6.6 Cr.
Borrowings ₹4.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹58.4 ₹70.3
+20.2% above Net profit ₹0.4 ₹1.9
+343.7% above
Operating margin contracted 830 bps YoY All of pre-tax profit came from other income or one-off items
₹ Cr YoY
Sep 2025 Sep 2024
Sales
-72.5%
3.5 12.5 Operating profit
-91.5%
0.1 1.5 OPM %
-830 bps
3.7% 12.0% Other income
+47.5%
0.2 0.2 Net profit?
-99.0%
0.0 1.0 PAT margin %
-754 bps
0.3% 7.8%
Quality of profit
Pre-tax profit ₹0.0 Cr: core business −₹0.2 Cr, other income ₹0.2 Cr.
Core profit YoY: to loss
· reported profit -99.0%
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
