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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Operating margin expanded 2091 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
+130.7% -8.9%
21.9 24.0 9.5 Operating profit
from loss -15.8%
2.0 2.4 -1.1 OPM %
+2091 bps -76 bps
9.1% 9.9% -11.8% Other income
+28.0% +42.1%
2.0 1.4 1.6 Net profit?
loss narrowed -100.0%
0.0 0.3 -3.3 PAT margin %
+3453 bps -108 bps
0.0% 1.1% -34.5% EPS (₹)
from loss -50.0%
0.01 0.02 -0.20
Quality of profit
Pre-tax profit ₹0.2 Cr: core business −₹1.0 Cr, other income ₹2.0 Cr, exceptional & other items −₹0.8 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations −₹9.0 Cr:
-206% of FY25 net profit of ₹4.4 Cr.
Borrowings ₹25.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹9.1 ₹21.9
+140.6% above
M Cap ₹210 Cr
P/E 8.4
PEG 0.06
Profit -51% below its own trend Operating margin expanded 672 bps YoY All of pre-tax profit came from other income or one-off items FY25 operating cash flow was only 41% of profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
— -74.7%
119 471 0.2 Operating profit
loss widened to loss -0.1 12.4 -0.0 OPM %
+672 bps -275 bps
-0.1% 2.6% -6.8% Other income
+700.7% -41.9%
3.1 5.4 0.4 Net profit?
-6.8% -87.8%
1.8 14.8 1.9 PAT margin %
— -162 bps
1.5% 3.1% — EPS (₹)
-6.3% -87.7%
1.33 10.85 1.42
Quality of profit
Pre-tax profit ₹2.9 Cr: core business −₹0.2 Cr, other income ₹3.1 Cr.
Core profit YoY: loss narrowed
· reported profit -6.8%
Cash & debt
FY25 cash from operations ₹8.0 Cr:
41% of FY25 net profit of ₹19.6 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹0.1 ₹119
+999.0% above Net profit ₹3.7 ₹1.8
-50.8% below
M Cap ₹208 Cr
P/E 13.0
PEG 1.62
42% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+20.3% +2.6%
275 268 229 Operating profit
+4.7% -6.5%
16.6 17.8 15.9 OPM %
-90 bps -59 bps
6.0% 6.6% 6.9% Other income
+62.5% +114.2%
2.5 1.2 1.5 Net profit?
+0.3% -8.3%
4.0 4.3 4.0 PAT margin %
-29 bps -17 bps
1.4% 1.6% 1.7% EPS (₹)
-0.7% -8.8%
1.34 1.47 1.35
Quality of profit
Pre-tax profit ₹5.9 Cr: core business ₹3.4 Cr, other income ₹2.5 Cr.
Core profit YoY: -18.4%
· reported profit +0.3%
Cash & debt
FY25 cash from operations ₹57.0 Cr:
307% of FY25 net profit of ₹18.6 Cr.
Borrowings ₹269 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹223 ₹275
+23.4% above Net profit ₹4.1 ₹4.0
-4.0% in line
M Cap ₹208 Cr
P/E 6.9
PEG 0.02
Profit -96% below its own trend Operating margin contracted 2281 bps YoY All of pre-tax profit came from other income or one-off items FY25 operating cash flow was only 17% of profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+211.0% +126.1%
9.4 4.1 3.0 Operating profit
-67.5% -83.8%
0.2 1.5 0.8 OPM %
-2281 bps -3455 bps
2.7% 37.2% 25.5% Other income
-45.0% -40.0%
2.0 3.4 3.7 Net profit?
-91.3% -93.2%
0.2 2.4 1.9 PAT margin %
-6162 bps -5731 bps
1.8% 59.1% 63.4% EPS (₹)
-92.9% -94.4%
0.01 0.18 0.14
Quality of profit
Pre-tax profit ₹0.4 Cr: core business −₹1.6 Cr, other income ₹2.0 Cr.
Core profit YoY: loss widened
· reported profit -91.3%
Cash & debt
FY25 cash from operations ₹4.0 Cr:
17% of FY25 net profit of ₹23.4 Cr.
Borrowings ₹6.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹2.1 ₹9.4
+356.8% above Net profit ₹3.8 ₹0.2
-95.6% below
M Cap ₹208 Cr
P/E 26.8
PEG 2.43
Operating margin contracted 398 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
-13.7% +2.4%
70.8 69.1 81.9 Operating profit
-56.6% -46.5%
2.8 5.3 6.5 OPM %
-398 bps -367 bps
4.0% 7.7% 8.0% Other income
— —
2.9 0.1 0.1 Net profit
-36.6% +2.2%
1.8 1.8 2.9 PAT margin %
-93 bps -0 bps
2.6% 2.6% 3.5% EPS (₹)
-37.9% +0.0%
0.18 0.18 0.29
Quality of profit
Pre-tax profit ₹2.6 Cr: core business −₹0.2 Cr, other income ₹2.9 Cr.
Core profit YoY: to loss
· reported profit -36.6%
Cash & debt
FY25 cash from operations −₹21.0 Cr:
-205% of FY25 net profit of ₹10.2 Cr.
Borrowings ₹106 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹78.1 ₹70.8
-9.4% below Net profit ₹2.0 ₹1.8
-8.6% in line
M Cap ₹206 Cr
P/E 74.7
PEG —
Operating margin expanded 155 bps YoY 83% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -72%)
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-36.7% +6.2%
102 95.7 161 Operating profit
-28.6% +11.9%
13.8 12.3 19.3 OPM %
+155 bps +69 bps
13.6% 12.9% 12.0% Other income
+1.1% -26.2%
1.9 2.5 1.8 Net profit?
-28.3% +96.5%
1.7 0.8 2.3 PAT margin %
+19 bps +76 bps
1.6% 0.9% 1.5% EPS (₹)
-28.3% +97.8%
0.91 0.46 1.27
Quality of profit
Pre-tax profit ₹2.2 Cr: core business ₹0.4 Cr, other income ₹1.9 Cr.
Core profit YoY: -71.6%
· reported profit -28.3%
Cash & debt
FY25 cash from operations ₹67.0 Cr:
1324% of FY25 net profit of ₹5.1 Cr.
Borrowings ₹295 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹156 ₹102
-34.9% below Net profit ₹1.8 ₹1.7
-6.7% in line
M Cap ₹206 Cr
P/E 26.1
PEG —
Profit -30% below its own trend Operating margin contracted 322 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
-11.4% +22.8%
74.2 60.4 83.7 Operating profit
-34.0% +38.6%
7.0 5.0 10.6 OPM %
-322 bps +107 bps
9.4% 8.3% 12.6% Other income
+519.6% +410.2%
0.9 0.2 0.1 Net profit?
-49.8% -2.2%
1.7 1.7 3.3 PAT margin %
-173 bps -58 bps
2.3% 2.8% 4.0% EPS (₹)
— —
0.91 1.50 0.22
No EPS growth against Jun 2025 and Sep 2024: ₹10 to ₹1 split in Sep 2025.
Quality of profit
Pre-tax profit ₹2.9 Cr: core business ₹2.0 Cr, other income ₹0.9 Cr.
Core profit YoY: -55.8%
· reported profit -49.8%
Cash & debt
FY25 cash from operations ₹6.0 Cr:
75% of FY25 net profit of ₹8.1 Cr.
Borrowings ₹36.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹75.7 ₹74.2
-2.0% in line Net profit ₹2.4 ₹1.7
-29.5% below
M Cap ₹204 Cr
P/E 24.0
PEG —
Profit -99% below its own trend Operating margin contracted 208 bps YoY 78% of pre-tax profit came from other income and one-off items FY25 operating cash flow was only 4% of profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-98.8% +18.5%
61.6 52.0 5,055 Operating profit
-98.9% -3.5%
8.3 8.6 785 OPM %
-208 bps -308 bps
13.5% 16.5% 15.5% Other income
-94.6% +354.9%
2.0 0.5 37.9 Net profit
-98.9% +7.7%
2.2 2.0 196 PAT margin %
-38 bps -35 bps
3.5% 3.8% 3.9% EPS (₹)
+2.7% +8.6%
0.38 0.35 0.37
Quality of profit
Pre-tax profit ₹2.6 Cr: core business ₹0.6 Cr, other income ₹2.0 Cr.
Core profit YoY: -99.7%
· reported profit -98.9%
Cash & debt
FY25 cash from operations ₹9.0 Cr:
4% of FY25 net profit of ₹206 Cr.
Borrowings ₹68.0 Cr at Sep 2025, against ₹67.0 Cr at Mar 2025 (+1% ).
Against its own trend ?
Trend Actual Gap
Sales ₹6,596 ₹61.6
-99.1% below Net profit ₹240 ₹2.2
-99.1% below
M Cap ₹203 Cr
P/E 13.6
PEG 0.90
Profit -12% below its own trend Operating margin expanded 119 bps YoY 40% of pre-tax profit came from other income and one-off items
₹ Cr YoY vs prev. half
Sep 2025 Mar 2025 Sep 2024
Sales
-4.3% +0.0%
22.0 22.0 23.0 Operating profit
+0.0% +0.0%
6.0 6.0 6.0 OPM %
+119 bps +0 bps
27.3% 27.3% 26.1% Other income
+33.3% +33.3%
4.0 3.0 3.0 Net profit?
+0.0% +16.7%
7.0 6.0 7.0 PAT margin %
+138 bps +455 bps
31.8% 27.3% 30.4% EPS (₹)
+14.2% +14.0%
7.01 6.15 6.14
Quality of profit
Pre-tax profit ₹10.0 Cr: core business ₹6.0 Cr, other income ₹4.0 Cr.
Core profit YoY: +0.0%
· reported profit +0.0%
Cash & debt
FY25 cash from operations ₹9.0 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹26.5 ₹22.0
-16.9% below Net profit ₹8.0 ₹7.0
-12.4% below
M Cap ₹203 Cr
P/E 10.0
PEG 0.40
Profit -47% below its own trend 39% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-15.4% -4.6%
21.1 22.1 25.0 Operating profit
-11.7% -32.4%
4.5 6.7 5.1 OPM %
+89 bps -877 bps
21.3% 30.1% 20.5% Other income
-14.6% -32.7%
2.3 3.4 2.7 Net profit
-23.3% -38.4%
4.9 8.0 6.4 PAT margin %
-240 bps -1283 bps
23.4% 36.2% 25.8% EPS (₹)
-23.3% -38.4%
9.89 16.05 12.89
Quality of profit
Pre-tax profit ₹5.9 Cr: core business ₹3.6 Cr, other income ₹2.3 Cr.
Core profit YoY: -13.6%
· reported profit -23.3%
Cash & debt
FY25 cash from operations ₹21.0 Cr:
113% of FY25 net profit of ₹18.5 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹24.2 ₹21.1
-12.7% below Net profit ₹9.4 ₹4.9
-47.3% below
M Cap ₹199 Cr
P/E 40.6
PEG 0.85
Turnaround: profit against a loss a year ago Operating margin expanded 3927 bps YoY 32% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-35.9% +49.4%
28.0 18.8 43.7 Operating profit
from loss from loss 4.7 -2.1 -9.8 OPM %
+3927 bps +2792 bps
16.9% -11.0% -22.4% Other income
+551.2% —
1.5 0.1 0.2 Net profit?
from loss from loss 4.6 -3.6 -12.3 PAT margin %
+4440 bps +3550 bps
16.3% -19.2% -28.1% EPS (₹)
from loss from loss 4.06 -3.21 -10.92
Quality of profit
Pre-tax profit ₹4.8 Cr: core business ₹3.2 Cr, other income ₹1.5 Cr.
Core profit YoY: from loss
Cash & debt
FY25 cash from operations −₹6.0 Cr.
Borrowings ₹56.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹42.8 ₹28.0
-34.4% below
M Cap ₹199 Cr
P/E 26.8
PEG —
Operating margin contracted 256 bps YoY 67% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -50%)
₹ Cr YoY vs prev. half
Sep 2025 Mar 2025 Sep 2024
Sales
+66.7% +66.7%
65.0 39.0 39.0 Operating profit
+25.0% +66.7%
5.0 3.0 4.0 OPM %
-256 bps +0 bps
7.7% 7.7% 10.3% Other income
+100.0% +0.0%
2.0 2.0 1.0 Net profit?
+0.0% +50.0%
3.0 2.0 3.0 PAT margin %
-308 bps -51 bps
4.6% 5.1% 7.7% EPS (₹)
+0.0% +33.1%
1.73 1.30 1.73
Quality of profit
Pre-tax profit ₹3.0 Cr: core business ₹1.0 Cr, other income ₹2.0 Cr.
Core profit YoY: -50.0%
· reported profit +0.0%
Cash & debt
FY25 cash from operations ₹19.0 Cr.
Borrowings ₹28.0 Cr at Mar 2025.
M Cap ₹198 Cr
P/E 6.1
PEG 2.02
Profit +32% above its own trend Operating margin expanded 101 bps YoY 25% 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
+11.8% +1.9%
142 139 127 Operating profit
+44.3% +17.2%
6.3 5.4 4.4 OPM %
+101 bps +58 bps
4.5% 3.9% 3.5% Other income
+7.3% -16.5%
2.0 2.5 1.9 Net profit?
+41.2% +6.4%
6.0 5.6 4.2 PAT margin %
+88 bps +18 bps
4.2% 4.0% 3.3% EPS (₹)
+41.2% +6.6%
2.57 2.41 1.82
Quality of profit
Pre-tax profit ₹8.1 Cr: core business ₹6.1 Cr, other income ₹2.0 Cr.
Core profit YoY: +47.4%
· reported profit +41.2%
Cash & debt
FY25 cash from operations −₹2.0 Cr:
-8% of FY25 net profit of ₹26.2 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹132 ₹142
+7.5% above Net profit ₹4.5 ₹6.0
+32.0% above
Profit +52% above its own trend Operating margin contracted 2043 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
+24.5% -11.8%
80.1 90.8 64.3 Operating profit
-78.5% from loss 3.4 -4.5 15.9 OPM %
-2043 bps +926 bps
4.3% -5.0% 24.7% Other income
+26.2% -67.0%
5.6 16.9 4.4 Net profit?
+22.3% -24.7%
4.5 6.0 3.7 PAT margin %
-10 bps -96 bps
5.6% 6.6% 5.7% EPS (₹)
+33.3% -15.8%
0.16 0.19 0.12
Quality of profit
Pre-tax profit ₹4.9 Cr: core business −₹0.7 Cr, other income ₹5.6 Cr.
Core profit YoY: to loss
· reported profit +22.3%
Cash & debt
FY25 cash from operations ₹49.0 Cr:
226% of FY25 net profit of ₹21.7 Cr.
Borrowings ₹12.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹91.7 ₹80.1
-12.6% below Net profit ₹2.9 ₹4.5
+52.3% above
M Cap ₹195 Cr
P/E 15.2
PEG —
Profit +15% above its own trend Operating margin contracted 138 bps YoY 41% 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% +97.6%
92.4 46.8 82.7 Operating profit
+1.0% +123.3%
12.0 5.4 11.9 OPM %
-138 bps +149 bps
13.0% 11.5% 14.4% Other income
-93.9% -66.7%
0.0 0.1 0.5 Net profit?
-0.2% +108.0%
6.8 3.2 6.8 PAT margin %
-88 bps +36 bps
7.3% 7.0% 8.2% EPS (₹)
-2.7% +108.6%
0.73 0.35 0.75
Quality of profit
Pre-tax profit ₹13.4 Cr: core business ₹7.9 Cr, other income ₹0.0 Cr, exceptional & other items ₹5.4 Cr.
Core profit YoY: -20.1%
· reported profit -0.2%
Cash & debt
FY25 cash from operations −₹18.0 Cr:
-66% of FY25 net profit of ₹27.4 Cr.
Borrowings ₹55.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹94.0 ₹92.4
-1.7% in line Net profit ₹5.9 ₹6.8
+15.0% above
M Cap ₹191 Cr
P/E 14.4
PEG 0.31
Turnaround: profit against a loss a year ago Operating margin expanded 2716 bps YoY 77% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+12.8% -8.1%
23.5 25.5 20.8 Operating profit
from loss -19.3%
2.5 3.1 -3.4 OPM %
+2716 bps -150 bps
10.8% 12.3% -16.4% Other income
— —
6.1 0.2 0.2 Net profit?
from loss -16.8%
8.0 9.6 -4.0 PAT margin %
+5306 bps -355 bps
34.0% 37.6% -19.0% EPS (₹)
from loss -16.6%
2.71 3.25 -1.51
Quality of profit
Pre-tax profit ₹8.0 Cr: core business ₹1.8 Cr, other income ₹6.1 Cr.
Core profit YoY: from loss
Cash & debt
FY25 cash from operations ₹3.0 Cr.
Borrowings ₹8.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹28.5 ₹23.5
-17.6% below
M Cap ₹190 Cr
P/E 16.9
PEG —
Profit -32% below its own trend 33% of pre-tax profit came from other income and one-off items
₹ Cr YoY vs prev. half
Sep 2025 Mar 2025 Sep 2024
Sales
-4.0% -26.8%
386 527 402 Operating profit
+0.6% +15.2%
13.8 12.0 13.7 OPM %
+16 bps +131 bps
3.6% 2.3% 3.4% Other income
-15.0% -25.8%
3.0 4.0 3.5 Net profit?
-22.7% -10.9%
6.2 7.0 8.1 PAT margin %
-39 bps +29 bps
1.6% 1.3% 2.0% EPS (₹)
-22.7% -4.9%
2.89 3.04 3.74
Quality of profit
Pre-tax profit ₹9.1 Cr: core business ₹6.2 Cr, other income ₹3.0 Cr.
Core profit YoY: -16.2%
· reported profit -22.7%
Cash & debt
FY25 cash from operations −₹1.0 Cr.
Borrowings ₹267 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹544 ₹386
-29.1% below Net profit ₹9.2 ₹6.2
-32.1% below
M Cap ₹187 Cr
P/E 23.4
PEG 0.32
Profit +57% above its own trend Operating margin expanded 786 bps YoY 96% 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
+8.8% +435.9%
5.4 1.0 5.0 Operating profit
from loss from loss 0.3 -0.0 -0.1 OPM %
+786 bps +875 bps
5.6% -3.1% -2.2% Other income
+34.2% +64.0%
5.1 3.1 3.8 Net profit
+13.5% +37.8%
3.9 2.8 3.4 PAT margin %
+297 bps —
71.7% — 68.7% EPS (₹)
+13.4% +38.0%
4.14 3.00 3.65
Quality of profit
Pre-tax profit ₹5.3 Cr: core business ₹0.2 Cr, other income ₹5.1 Cr.
Core profit YoY: from loss
· reported profit +13.5%
Cash & debt
FY25 cash from operations −₹1.0 Cr:
-20% of FY25 net profit of ₹4.9 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹4.5 ₹5.4
+19.3% above Net profit ₹2.5 ₹3.9
+57.0% above
M Cap ₹187 Cr
P/E 13.5
PEG 0.61
Profit -53% below its own trend Operating margin contracted 862 bps YoY 50% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -63%) FY25 operating cash flow was only 39% of profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+18.2% +37.6%
52.6 38.3 44.5 Operating profit
-55.7% -3.8%
2.7 2.8 6.1 OPM %
-862 bps -222 bps
5.2% 7.4% 13.8% Other income
+914.6% +162.1%
1.7 0.7 0.2 Net profit
-30.6% +41.2%
2.6 1.8 3.7 PAT margin %
-343 bps +13 bps
4.9% 4.8% 8.3% EPS (₹)
-86.0% +40.9%
0.31 0.22 2.22
Quality of profit
Pre-tax profit ₹3.5 Cr: core business ₹1.7 Cr, other income ₹1.7 Cr.
Core profit YoY: -62.6%
· reported profit -30.6%
Cash & debt
FY25 cash from operations ₹5.0 Cr:
39% of FY25 net profit of ₹13.0 Cr.
Borrowings ₹15.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹51.1 ₹52.6
+3.1% in line Net profit ₹5.4 ₹2.6
-52.6% below
M Cap ₹185 Cr
P/E 7.0
PEG 0.09
Operating margin contracted 331 bps YoY 52% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
— —
4,842 53.4 45.1 Operating profit
— —
278 4.4 4.1 OPM %
-331 bps -258 bps
5.7% 8.3% 9.0% Other income
— —
294 0.1 0.1 Net profit?
+43.8% +30.5%
5.0 3.8 3.5 PAT margin %
-763 bps -709 bps
0.1% 7.2% 7.7% EPS (₹)
+50.0% +28.6%
0.09 0.07 0.06
Quality of profit
Pre-tax profit ₹572 Cr: core business ₹277 Cr, other income ₹294 Cr, exceptional & other items ₹0.7 Cr.
Core profit YoY: —
· reported profit +43.8%
Cash & debt
FY25 cash from operations ₹17.0 Cr:
140% of FY25 net profit of ₹12.2 Cr.
Borrowings ₹2.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹64.6 ₹4,842
+999.0% above Net profit ₹4.8 ₹5.0
+4.1% in line
M Cap ₹185 Cr
P/E 11.7
PEG —
Profit -60% below its own trend Operating margin contracted 620 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
+12.4% -7.6%
83.2 90.0 74.0 Operating profit
-98.1% from loss 0.1 -1.8 4.7 OPM %
-620 bps +209 bps
0.1% -2.0% 6.3% Other income
+441.7% +496.3%
6.5 1.1 1.2 Net profit?
-25.9% from loss 2.8 -3.3 3.8 PAT margin %
-174 bps +700 bps
3.4% -3.6% 5.1% EPS (₹)
-26.0% from loss 3.58 -4.18 4.84
Quality of profit
Pre-tax profit ₹3.3 Cr: core business −₹3.2 Cr, other income ₹6.5 Cr.
Core profit YoY: to loss
· reported profit -25.9%
Cash & debt
FY25 cash from operations −₹35.0 Cr:
-241% of FY25 net profit of ₹14.5 Cr.
Borrowings ₹69.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹82.5 ₹83.2
+0.8% in line Net profit ₹6.9 ₹2.8
-59.6% below
M Cap ₹184 Cr
P/E 23.2
PEG 0.32
Profit -63% below its own trend 59% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +74%) Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+39.6% -5.3%
148 157 106 Operating profit
+97.7% +26.3%
3.7 2.9 1.9 OPM %
+73 bps +62 bps
2.5% 1.9% 1.7% Other income
-91.3% +31.4%
0.4 0.3 4.4 Net profit?
-26.5% +617.4%
3.0 0.4 4.0 PAT margin %
-180 bps +173 bps
2.0% 0.3% 3.8% EPS (₹)
-26.5% +52.2%
1.72 1.13 2.34
Quality of profit
Pre-tax profit ₹2.9 Cr: core business ₹1.2 Cr, other income ₹0.4 Cr, exceptional & other items ₹1.3 Cr.
Core profit YoY: +73.7%
· reported profit -26.5%
Cash & debt
FY25 cash from operations −₹43.0 Cr:
-573% of FY25 net profit of ₹7.5 Cr.
Borrowings ₹62.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹213 ₹148
-30.2% below Net profit ₹8.1 ₹3.0
-63.2% below
Profit -22% below its own trend Operating margin contracted 559 bps YoY 50% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -66%) FY25 operating cash flow was only 12% of profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-20.0% +9.7%
33.5 30.5 41.9 Operating profit
-47.5% +64.1%
3.6 2.2 6.8 OPM %
-559 bps +355 bps
10.7% 7.2% 16.3% Other income
+202.9% +100.9%
1.9 1.0 0.6 Net profit?
-36.7% +153.1%
3.2 1.3 5.0 PAT margin %
-251 bps +536 bps
9.5% 4.1% 12.0% EPS (₹)
-37.1% +148.1%
1.34 0.54 2.13
Quality of profit
Pre-tax profit ₹3.9 Cr: core business ₹1.9 Cr, other income ₹1.9 Cr.
Core profit YoY: -65.5%
· reported profit -36.7%
Cash & debt
FY25 cash from operations ₹2.0 Cr:
12% of FY25 net profit of ₹16.3 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹49.4 ₹33.5
-32.2% below Net profit ₹4.1 ₹3.2
-22.1% below
M Cap ₹182 Cr
P/E 18.7
PEG —
Profit -75% below its own trend Operating margin contracted 645 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
-8.3% +13.7%
143 125 156 Operating profit
-63.2% -41.2%
6.2 10.5 16.8 OPM %
-645 bps -404 bps
4.3% 8.4% 10.8% Other income
+57.6% -31.5%
3.6 5.3 2.3 Net profit?
-81.3% -73.4%
1.7 6.4 9.1 PAT margin %
-464 bps -388 bps
1.2% 5.1% 5.8% EPS (₹)
-74.3% -58.7%
0.26 0.63 1.01
Quality of profit
Pre-tax profit ₹2.9 Cr: core business −₹0.7 Cr, other income ₹3.6 Cr.
Core profit YoY: to loss
· reported profit -81.3%
Cash & debt
FY25 cash from operations −₹40.0 Cr:
-125% of FY25 net profit of ₹32.1 Cr.
Borrowings ₹202 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹139 ₹143
+3.0% in line Net profit ₹6.7 ₹1.7
-74.8% below
M Cap ₹181 Cr
P/E 177.1
PEG —
Profit +106% above 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
+1.8% +16.2%
34.5 29.7 33.9 Operating profit
-21.1% +0.0%
0.7 0.7 0.9 OPM %
-60 bps -33 bps
2.1% 2.4% 2.7% Other income
+82.4% +12.9%
1.7 1.5 0.9 Net profit?
+311.5% +32.1%
1.1 0.8 0.3 PAT margin %
+233 bps +37 bps
3.1% 2.7% 0.8% EPS (₹)
+300.0% +29.0%
0.40 0.31 0.10
Quality of profit
Pre-tax profit ₹1.1 Cr: core business −₹0.6 Cr, other income ₹1.7 Cr.
Core profit YoY: loss widened
· reported profit +311.5%
Against its own trend ?
Trend Actual Gap
Sales ₹41.8 ₹34.5
-17.5% below Net profit ₹0.5 ₹1.1
+105.8% above
Profit +700% above its own trend Operating margin expanded 632 bps YoY 32% 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
+40.1% +40.4%
12.4 8.8 8.8 Operating profit
from loss from loss 0.7 -0.8 -0.1 OPM %
+632 bps +1493 bps
5.6% -9.3% -0.7% Other income
+0.0% +966.7%
0.3 0.0 0.3 Net profit
+300.0% +122.2%
1.0 0.5 0.2 PAT margin %
+524 bps +297 bps
8.1% 5.1% 2.8% EPS (₹)
+200.0% +200.0%
0.03 0.01 0.01
Quality of profit
Pre-tax profit ₹1.0 Cr: core business ₹0.7 Cr, other income ₹0.3 Cr.
Core profit YoY: from loss
· reported profit +300.0%
Cash & debt
FY25 cash from operations −₹3.0 Cr:
-172% of FY25 net profit of ₹1.7 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹6.3 ₹12.4
+96.0% above Net profit ₹0.1 ₹1.0
+700.0% above
M Cap ₹176 Cr
P/E 334.8
PEG 12.88
Profit -82% below its own trend Operating margin contracted 120 bps YoY All of pre-tax profit came from other income or one-off items FY25 operating cash flow was only 0% of profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-15.9% -5.2%
45.7 48.2 54.3 Operating profit
-34.7% -32.6%
1.9 2.8 2.9 OPM %
-120 bps -169 bps
4.2% 5.9% 5.4% Other income
+600.0% —
1.5 0.1 0.2 Net profit
-63.3% -58.1%
0.2 0.4 0.5 PAT margin %
-51 bps -50 bps
0.4% 0.9% 0.9% EPS (₹)
— -50.0%
0.01 0.02 0.02
No EPS growth against Sep 2024: ₹10 to ₹1 split in Feb 2025.
Quality of profit
Pre-tax profit ₹0.9 Cr: core business −₹0.6 Cr, other income ₹1.5 Cr.
Core profit YoY: to loss
· reported profit -63.3%
Cash & debt
FY25 cash from operations ₹0.0 Cr:
0% of FY25 net profit of ₹4.1 Cr.
Borrowings ₹89.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹62.5 ₹45.7
-26.9% below Net profit ₹1.0 ₹0.2
-81.6% below
Profit +672% above its own trend 57% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +180%) Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-8.0% +53.3%
121 78.7 131 Operating profit
+64.3% +130.9%
2.4 1.0 1.4 OPM %
+87 bps +66 bps
2.0% 1.3% 1.1% Other income
+469.8% -22.5%
0.9 1.1 0.2 Net profit?
+286.0% +101.8%
1.1 0.5 0.3 PAT margin %
+69 bps +22 bps
0.9% 0.7% 0.2% EPS (₹)
— —
0.01 0.00 0.00
Quality of profit
Pre-tax profit ₹1.6 Cr: core business ₹0.7 Cr, other income ₹0.9 Cr.
Core profit YoY: +179.7%
· reported profit +286.0%
Cash & debt
FY25 cash from operations −₹91.0 Cr:
-2319% of FY25 net profit of ₹3.9 Cr.
Borrowings ₹26.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹199 ₹121
-39.3% below Net profit ₹0.1 ₹1.1
+672.0% above
M Cap ₹172 Cr
P/E 59.7
PEG —
Into loss: a profit a year ago Operating margin expanded 3298 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
+247.5% +315.9%
49.7 11.9 14.3 Operating profit
from loss +19.3%
2.7 2.3 -3.9 OPM %
+3298 bps -1362 bps
5.5% 19.1% -27.5% Other income
-84.0% -82.4%
0.8 4.6 5.1 Net profit?
to loss to loss -0.2 4.5 0.2 PAT margin %
-151 bps -3809 bps
-0.3% 37.8% 1.2% EPS (₹)
— —
0.07 0.18 0.01
No EPS growth against Jun 2025 and Sep 2024: 2:1 bonus in Feb 2026 and ₹10 to ₹2 split in Feb 2026.
Quality of profit
Pre-tax profit ₹2.1 Cr: core business ₹1.3 Cr, other income ₹0.8 Cr.
Core profit YoY: from loss
Cash & debt
FY25 cash from operations ₹27.0 Cr.
Borrowings ₹28.0 Cr at Mar 2025.
M Cap ₹170 Cr
P/E 21.8
PEG —
Profit +243% above its own trend 60% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+4.3% +16.8%
190 163 182 Operating profit
+13.5% +72.8%
12.3 7.1 10.8 OPM %
+52 bps +209 bps
6.5% 4.4% 5.9% Other income
-64.4% -27.9%
3.0 4.1 8.3 Net profit?
+71.5% from loss 4.3 -0.3 2.5 PAT margin %
+88 bps +243 bps
2.2% -0.2% 1.4% EPS (₹)
+121.4% from loss 3.72 -0.26 1.68
Quality of profit
Pre-tax profit ₹5.0 Cr: core business ₹2.0 Cr, other income ₹3.0 Cr.
Core profit YoY: from loss
· reported profit +71.5%
Cash & debt
FY25 cash from operations ₹17.0 Cr:
188% of FY25 net profit of ₹9.1 Cr.
Borrowings ₹211 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹200 ₹190
-5.1% below Net profit ₹1.2 ₹4.3
+243.1% 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, 21:51 IST
