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 ₹169 Cr
P/E 10.2
PEG 0.23
Operating margin contracted 1347 bps YoY 35% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -75%) Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-39.9% -58.2%
25.6 61.3 42.6 Operating profit
-70.3% -26.8%
3.4 4.6 11.4 OPM %
-1347 bps +566 bps
13.2% 7.5% 26.7% Other income
+70.6% -58.4%
1.4 3.4 0.8 Net profit
-49.8% -27.7%
4.0 5.6 8.0 PAT margin %
-310 bps +662 bps
15.7% 9.1% 18.8% EPS (₹)
-49.9% -27.7%
2.45 3.39 4.89
Quality of profit
Pre-tax profit ₹4.0 Cr: core business ₹2.6 Cr, other income ₹1.4 Cr.
Core profit YoY: -75.5%
· reported profit -49.8%
Cash & debt
FY25 cash from operations −₹23.0 Cr:
-188% of FY25 net profit of ₹12.2 Cr.
Borrowings ₹30.0 Cr at Mar 2025.
Profit +999% above its own trend Operating margin expanded 565 bps YoY 68% 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
+24.8% +11.2%
77.7 69.9 62.2 Operating profit
from loss —
2.7 0.1 -1.4 OPM %
+565 bps +335 bps
3.5% 0.1% -2.2% Other income
-17.1% +35.4%
2.4 1.8 2.9 Net profit
+718.8% —
2.6 0.0 0.3 PAT margin %
+286 bps +336 bps
3.4% 0.0% 0.5%
Quality of profit
Pre-tax profit ₹3.5 Cr: core business ₹1.1 Cr, other income ₹2.4 Cr.
Core profit YoY: from loss
· reported profit +718.8%
Cash & debt
FY25 cash from operations −₹8.0 Cr:
-237% of FY25 net profit of ₹3.4 Cr.
Borrowings ₹23.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹58.2 ₹77.7
+33.5% above Net profit ₹0.2 ₹2.6
+999.0% above
M Cap ₹166 Cr
P/E 17.6
PEG 0.98
Profit -99% below its own trend Operating margin contracted 186 bps YoY 73% of pre-tax profit came from other income and one-off items FY25 operating cash flow was only 10% of profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-98.9% -1.3%
45.6 46.1 4,285 Operating profit
-99.1% -13.0%
7.0 8.1 739 OPM %
-186 bps -208 bps
15.4% 17.5% 17.2% Other income
-98.7% —
2.3 0.1 177 Net profit?
-98.9% +64.2%
3.2 1.9 291 PAT margin %
+17 bps +277 bps
7.0% 4.2% 6.8% EPS (₹)
+10.4% +65.6%
0.53 0.32 0.48
Quality of profit
Pre-tax profit ₹3.2 Cr: core business ₹0.9 Cr, other income ₹2.3 Cr.
Core profit YoY: -99.1%
· reported profit -98.9%
Cash & debt
FY25 cash from operations ₹29.0 Cr:
10% of FY25 net profit of ₹298 Cr.
Borrowings ₹108 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹5,028 ₹45.6
-99.1% below Net profit ₹549 ₹3.2
-99.4% below
M Cap ₹163 Cr
P/E 22.4
PEG 0.37
Profit +563% above its own trend Operating margin expanded 681 bps YoY 75% of pre-tax profit came from other income and one-off items
₹ Cr YoY vs prev. half
Sep 2025 Mar 2025 Sep 2024
Sales
+70.0% -31.7%
29.4 43.0 17.3 Operating profit
from loss -74.5%
1.0 3.8 -0.6 OPM %
+681 bps -559 bps
3.3% 8.9% -3.5% Other income
+24.8% +88.2%
1.7 0.9 1.3 Net profit
+690.5% -48.4%
1.7 3.2 0.2 PAT margin %
+443 bps -182 bps
5.7% 7.5% 1.2% EPS (₹)
+585.0% -48.3%
1.37 2.65 0.20
Quality of profit
Pre-tax profit ₹2.2 Cr: core business ₹0.6 Cr, other income ₹1.7 Cr.
Core profit YoY: from loss
· reported profit +690.5%
Cash & debt
FY25 cash from operations −₹3.6 Cr.
Borrowings ₹1.3 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹21.1 ₹29.4
+39.2% above Net profit ₹0.3 ₹1.7
+563.5% above
M Cap ₹158 Cr
P/E 21.8
PEG 0.62
Profit -33% below its own trend Operating margin contracted 257 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
+0.4% +12.4%
74.0 65.9 73.7 Operating profit
-24.6% -5.4%
5.7 6.1 7.6 OPM %
-257 bps -146 bps
7.7% 9.2% 10.3% Other income
from loss +55.1%
1.1 0.7 -0.2 Net profit?
-30.8% +245.3%
0.7 0.2 1.0 PAT margin %
-44 bps +66 bps
1.0% 0.3% 1.4% EPS (₹)
-30.8% +246.2%
0.45 0.13 0.65
Quality of profit
Pre-tax profit ₹0.7 Cr: core business −₹0.4 Cr, other income ₹1.1 Cr.
Core profit YoY: to loss
· reported profit -30.8%
Cash & debt
FY25 cash from operations ₹20.0 Cr:
254% of FY25 net profit of ₹7.9 Cr.
Borrowings ₹150 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹64.5 ₹74.0
+14.7% above Net profit ₹1.1 ₹0.7
-32.6% below
M Cap ₹157 Cr
P/E 79.5
PEG —
Profit +999% above its own trend Operating margin contracted 119 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
+16.4% +7.8%
242 224 208 Operating profit
-49.8% from loss 2.2 -2.3 4.4 OPM %
-119 bps +194 bps
0.9% -1.0% 2.1% Other income
+27.4% -3.3%
4.0 4.2 3.2 Net profit?
— from loss 5.3 -4.6 0.4 PAT margin %
+200 bps +423 bps
2.2% -2.1% 0.2% EPS (₹)
— from loss 1.71 -1.50 0.12
Quality of profit
Pre-tax profit ₹4.8 Cr: core business ₹0.7 Cr, other income ₹4.0 Cr.
Core profit YoY: -73.3%
Cash & debt
FY25 cash from operations ₹51.0 Cr:
434% of FY25 net profit of ₹11.8 Cr.
Borrowings ₹13.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹145 ₹242
+67.1% above Net profit ₹0.2 ₹5.3
+999.0% above
M Cap ₹156 Cr
P/E 26.0
PEG 3.25
67% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +100%)
₹ Cr YoY vs prev. half
Sep 2025 Mar 2025 Sep 2024
Sales
+2.1% +11.5%
97.0 87.0 95.0 Operating profit
+50.0% -25.0%
3.0 4.0 2.0 OPM %
+99 bps -150 bps
3.1% 4.6% 2.1% Other income
+0.0% —
5.0 0.0 5.0 Net profit
+0.0% +400.0%
5.0 1.0 5.0 PAT margin %
-11 bps +401 bps
5.2% 1.1% 5.3% EPS (₹)
+5.4% +218.2%
3.15 0.99 2.99
Quality of profit
Pre-tax profit ₹6.0 Cr: core business ₹2.0 Cr, other income ₹5.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +100.0%
· reported profit +0.0%
Cash & debt
FY25 cash from operations ₹22.0 Cr.
Borrowings ₹2.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹96.0 ₹97.0
+1.1% in line
M Cap ₹155 Cr
P/E 4.0
PEG 1.98
Turnaround: profit against a loss a year ago Operating margin contracted 2172 bps YoY All of pre-tax profit came from other income or one-off items Exceptional items of ₹16.9 Cr in the quarter
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-95.5% -87.5%
3.0 23.6 66.3 Operating profit
loss narrowed loss widened -0.9 -0.4 -5.1 OPM %
-2172 bps -2766 bps
-29.4% -1.7% -7.7% Other income
-100.0% —
0.0 0.0 0.1 Net profit?
from loss from loss 13.7 -2.3 -6.4 EPS (₹)
from loss from loss 6.93 -2.91 -3.22
Quality of profit
Pre-tax profit ₹13.3 Cr: core business −₹3.6 Cr, other income ₹0.0 Cr, exceptional & other items ₹16.9 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations −₹5.0 Cr.
Borrowings ₹79.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹33.2 ₹3.0
-91.1% below
M Cap ₹153 Cr
P/E 8.0
PEG 0.29
Profit -42% below its own trend Operating margin contracted 964 bps YoY 41% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -47%)
₹ Cr YoY vs prev. half
Sep 2025 Mar 2025 Sep 2024
Sales
-7.5% -13.5%
37.0 42.7 40.0 Operating profit
-39.9% -32.9%
6.6 9.9 11.0 OPM %
-964 bps -519 bps
17.9% 23.1% 27.5% Other income
+231.6% +14.5%
3.3 2.9 1.0 Net profit
-24.5% -14.0%
6.0 7.0 8.0 PAT margin %
-367 bps -11 bps
16.3% 16.4% 20.0% EPS (₹)
-20.9% -14.2%
2.42 2.82 3.06
Quality of profit
Pre-tax profit ₹8.1 Cr: core business ₹4.8 Cr, other income ₹3.3 Cr.
Core profit YoY: -46.7%
· reported profit -24.5%
Cash & debt
FY25 cash from operations ₹21.0 Cr.
Borrowings ₹11.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹43.5 ₹37.0
-14.9% below Net profit ₹10.4 ₹6.0
-42.0% below
M Cap ₹151 Cr
P/E 25.1
PEG 0.23
Operating margin expanded 832 bps YoY 26% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +162%)
₹ Cr YoY vs prev. half
Sep 2025 Mar 2025 Sep 2024
Sales
+20.0% +36.7%
30.8 22.5 25.6 Operating profit
+74.3% +385.8%
8.2 1.7 4.7 OPM %
+832 bps +1917 bps
26.7% 7.5% 18.4% Other income
-52.3% +30.1%
2.0 1.5 4.2 Net profit?
+45.5% from loss 6.0 -0.7 4.1 PAT margin %
+341 bps +2263 bps
19.4% -3.2% 16.0% EPS (₹)
+44.8% from loss 0.84 -0.09 0.58
Quality of profit
Pre-tax profit ₹7.5 Cr: core business ₹5.5 Cr, other income ₹2.0 Cr.
Core profit YoY: +162.1%
· reported profit +45.5%
Cash & debt
FY25 cash from operations −₹18.1 Cr.
Borrowings ₹7.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹46.4 ₹30.8
-33.7% below
M Cap ₹149 Cr
P/E 332.2
PEG —
Operating margin expanded 1283 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
+17.6% +46.8%
101 68.8 85.8 Operating profit
from loss +742.6%
8.5 1.0 -3.8 OPM %
+1283 bps +696 bps
8.4% 1.5% -4.4% Other income
-44.3% -30.2%
0.9 1.3 1.6 Net profit
loss narrowed loss narrowed -0.4 -6.2 -21.8 PAT margin %
+2500 bps +862 bps
-0.4% -9.0% -25.4% EPS (₹)
loss narrowed loss narrowed -0.08 -1.22 -4.92
Quality of profit
Pre-tax profit ₹1.1 Cr: core business ₹0.3 Cr, other income ₹0.9 Cr.
Core profit YoY: from loss
Cash & debt
FY25 cash from operations ₹19.0 Cr.
Borrowings ₹117 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹71.7 ₹101
+40.8% above
M Cap ₹148 Cr
P/E 9.8
PEG 0.32
All of pre-tax profit came from other income or one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-1.5% -40.1%
63.0 105 64.0 Operating profit
+9.0% -25.6%
6.2 8.3 5.7 OPM %
+94 bps +191 bps
9.8% 7.9% 8.9% Other income
+488.0% +77.1%
1.5 0.8 0.2 Net profit?
+45.2% -59.2%
2.1 5.2 1.5 PAT margin %
+108 bps -158 bps
3.4% 4.9% 2.3% EPS (₹)
-8.0% -54.3%
0.80 1.75 0.87
Quality of profit
Pre-tax profit ₹8.4 Cr: core business −₹1.5 Cr, other income ₹1.5 Cr, exceptional & other items ₹8.4 Cr.
Core profit YoY: to loss
· reported profit +45.2%
Cash & debt
FY25 cash from operations ₹20.0 Cr:
111% of FY25 net profit of ₹18.0 Cr.
Borrowings ₹64.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹57.0 ₹63.0
+10.5% above Net profit ₹2.3 ₹2.1
-6.5% in line
M Cap ₹148 Cr
P/E 32.8
PEG 0.73
Into loss: a profit a year ago Profit -132% below its own trend Operating margin contracted 213 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
+98.8% +10.7%
51.1 46.2 25.7 Operating profit
+24.5% -9.1%
1.8 2.0 1.5 OPM %
-213 bps -78 bps
3.6% 4.4% 5.7% Other income
+110.0% +92.8%
0.3 0.2 0.2 Net profit
to loss to loss -0.2 1.0 0.9 PAT margin %
-405 bps -266 bps
-0.4% 2.3% 3.7% EPS (₹)
to loss to loss -0.08 0.38 0.35
Quality of profit
Pre-tax profit ₹1.1 Cr: core business ₹0.8 Cr, other income ₹0.3 Cr.
Core profit YoY: +2.9%
Cash & debt
FY25 cash from operations ₹3.0 Cr:
64% of FY25 net profit of ₹4.7 Cr.
Borrowings ₹26.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹51.5 ₹51.1
-0.6% in line Net profit ₹0.6 −₹0.2
-132.4% below
M Cap ₹148 Cr
P/E 7.9
PEG 0.10
30% of pre-tax profit came from other income and one-off items
₹ Cr QoQ
Sep 2025 Jun 2025
Sales
-2.4%
156 160 Operating profit
+37.9%
7.5 5.4 OPM %
+141 bps
4.8% 3.4% Other income
+57.0%
1.9 1.2 Net profit?
+25.3%
5.2 4.1 PAT margin %
+73 bps
3.3% 2.6% EPS (₹)
—
0.17 0.16
No EPS growth against Jun 2025: ₹10 to ₹2 split in Aug 2025 and 1:1 bonus in Oct 2025.
Quality of profit
Pre-tax profit ₹6.4 Cr: core business ₹4.5 Cr, other income ₹1.9 Cr.
Cash & debt
FY25 cash from operations ₹37.0 Cr.
Borrowings ₹19.0 Cr at Mar 2025.
M Cap ₹148 Cr
P/E 9.8
PEG 0.28
Profit -26% below its own trend Operating margin contracted 809 bps YoY 63% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -20%)
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-0.4% -22.5%
11.1 14.3 11.1 Operating profit
-23.5% -25.4%
3.0 4.0 3.9 OPM %
-809 bps -104 bps
26.8% 27.9% 34.9% Other income
+77.8% +114.1%
3.9 1.8 2.2 Net profit?
+24.7% +36.4%
4.9 3.6 4.0 PAT margin %
+898 bps +1924 bps
44.6% 25.4% 35.6% EPS (₹)
+26.9% +38.8%
1.18 0.85 0.93
Quality of profit
Pre-tax profit ₹6.7 Cr: core business ₹2.5 Cr, other income ₹3.9 Cr.
Core profit YoY: -19.7%
· reported profit +24.7%
Cash & debt
FY25 cash from operations ₹38.0 Cr:
177% of FY25 net profit of ₹21.4 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹7.7 ₹11.1
+43.9% above Net profit ₹6.6 ₹4.9
-25.8% below
M Cap ₹146 Cr
P/E 13.3
PEG 0.01
Profit -33% below its own trend 25% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +0%)
₹ Cr YoY vs prev. half
Sep 2025 Mar 2025 Sep 2024
Sales
+12.4% -10.5%
136 152 121 Operating profit
+20.0% -14.3%
6.0 7.0 5.0 OPM %
+28 bps -19 bps
4.4% 4.6% 4.1% Other income
— —
0.0 0.0 0.0 Net profit
+33.3% -20.0%
4.0 5.0 3.0 PAT margin %
+46 bps -35 bps
2.9% 3.3% 2.5% EPS (₹)
+27.8% -16.8%
6.94 8.34 5.43
Quality of profit
Pre-tax profit ₹4.0 Cr: core business ₹3.0 Cr, other income ₹0.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +0.0%
· reported profit +33.3%
Cash & debt
FY25 cash from operations ₹5.0 Cr.
Borrowings ₹11.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹141 ₹136
-3.6% in line Net profit ₹6.0 ₹4.0
-33.3% below
M Cap ₹146 Cr
P/E 18.3
PEG 1.67
Operating margin contracted 891 bps YoY 37% 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
-6.7% +46.7%
53.1 36.2 56.9 Operating profit
-71.2% -40.2%
2.1 3.5 7.3 OPM %
-891 bps -578 bps
4.0% 9.7% 12.9% Other income
+475.0% —
0.2 0.0 0.0 Net profit
-87.7% -79.4%
0.4 1.8 2.9 PAT margin %
-447 bps -416 bps
0.7% 4.8% 5.1% EPS (₹)
-92.3% -79.5%
0.09 0.44 1.17
Quality of profit
Pre-tax profit ₹0.6 Cr: core business ₹0.4 Cr, other income ₹0.2 Cr.
Core profit YoY: -90.8%
· reported profit -87.7%
Cash & debt
FY25 cash from operations −₹25.0 Cr:
-179% of FY25 net profit of ₹14.0 Cr.
Borrowings ₹172 Cr at Mar 2025.
M Cap ₹145 Cr
P/E 26.1
PEG 1.31
Profit -94% below its own trend Operating margin contracted 933 bps YoY 95% 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
+30.8% +85.7%
17.1 9.2 13.1 Operating profit
-57.7% +63.9%
0.8 0.5 1.8 OPM %
-933 bps -59 bps
4.5% 5.0% 13.8% Other income
-88.2% -18.1%
1.8 2.1 14.9 Net profit
-88.3% +47.3%
1.4 1.0 12.2 PAT margin %
-8494 bps -217 bps
8.3% 10.5% 93.3% EPS (₹)
-88.6% +33.3%
0.08 0.06 0.70
Quality of profit
Pre-tax profit ₹1.9 Cr: core business ₹0.1 Cr, other income ₹1.8 Cr.
Core profit YoY: -90.2%
· reported profit -88.3%
Cash & debt
FY25 cash from operations −₹5.0 Cr:
-85% of FY25 net profit of ₹5.8 Cr.
Borrowings ₹9.6 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹11.0 ₹17.1
+55.2% above Net profit ₹24.3 ₹1.4
-94.2% below
M Cap ₹141 Cr
P/E 11.5
PEG —
37% of pre-tax profit came from other income and one-off items
₹ Cr YoY vs prev. half
Sep 2025 Mar 2025 Sep 2024
Sales
+33.4% -4.3%
708 740 531 Operating profit
+27.1% +52.8%
5.7 3.7 4.5 OPM %
-4 bps +30 bps
0.8% 0.5% 0.8% Other income
+37.9% -16.4%
1.7 2.0 1.2 Net profit?
-19.1% +57.5%
3.8 2.4 4.7 PAT margin %
-35 bps +21 bps
0.5% 0.3% 0.9% EPS (₹)
-19.3% +56.7%
1.63 1.04 2.02
Quality of profit
Pre-tax profit ₹4.6 Cr: core business ₹2.9 Cr, other income ₹1.7 Cr.
Core profit YoY: -11.8%
· reported profit -19.1%
Cash & debt
FY25 cash from operations −₹67.0 Cr.
Borrowings ₹35.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹662 ₹708
+6.9% above Net profit ₹3.4 ₹3.8
+9.8% in line
M Cap ₹140 Cr
P/E 50.6
PEG —
Profit -62% below its own trend Operating margin contracted 124 bps YoY 93% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -94%) Operating cash flow was negative in FY25 despite a profit Borrowings up 36% since Mar 2025
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-27.5% -37.5%
64.7 104 89.2 Operating profit
-44.2% -42.8%
2.7 4.7 4.8 OPM %
-124 bps -38 bps
4.1% 4.5% 5.4% Other income
+110.6% +101.9%
2.1 1.0 1.0 Net profit?
-38.5% -26.0%
1.8 2.4 2.9 PAT margin %
-49 bps +42 bps
2.7% 2.3% 3.2% EPS (₹)
+0.0% -50.0%
0.01 0.02 0.01
Quality of profit
Pre-tax profit ₹2.3 Cr: core business ₹0.2 Cr, other income ₹2.1 Cr.
Core profit YoY: -94.3%
· reported profit -38.5%
Cash & debt
FY25 cash from operations −₹60.0 Cr:
-353% of FY25 net profit of ₹17.0 Cr.
Borrowings ₹38.0 Cr at Sep 2025, against ₹28.0 Cr at Mar 2025 (+36% ).
Against its own trend ?
Trend Actual Gap
Sales ₹119 ₹64.7
-45.6% below Net profit ₹4.6 ₹1.8
-61.8% below
Operating margin contracted 1700 bps YoY 99% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-49.4% +369.5%
8.0 1.7 15.7 Operating profit
-77.6% from loss 1.1 -12.2 4.8 OPM %
-1700 bps —
13.5% — 30.4% Other income
+80.6% -51.1%
5.8 11.8 3.2 Net profit?
+535.1% from loss 7.2 -1.4 1.1 PAT margin %
+8381 bps +17504 bps
91.1% -84.0% 7.3% EPS (₹)
+537.5% from loss 0.51 -0.10 0.08
Quality of profit
Pre-tax profit ₹5.8 Cr: core business ₹0.0 Cr, other income ₹5.8 Cr.
Core profit YoY: from loss
· reported profit +535.1%
Cash & debt
FY25 cash from operations ₹43.0 Cr.
Borrowings ₹80.0 Cr at Sep 2025, against ₹85.0 Cr at Mar 2025 (-6% ).
Against its own trend ?
Trend Actual Gap
Sales ₹10.6 ₹8.0
-24.7% below
M Cap ₹140 Cr
P/E 19.8
PEG 2.47
Profit +147% above its own trend Operating margin expanded 139 bps YoY 54% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +85%) Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+45.6% -9.1%
22.7 24.9 15.6 Operating profit
+101.8% +1.5%
1.1 1.1 0.6 OPM %
+139 bps +52 bps
5.0% 4.5% 3.6% Other income
— —
0.8 0.1 0.0 Net profit
+256.1% +110.4%
1.5 0.7 0.4 PAT margin %
+381 bps +366 bps
6.4% 2.8% 2.6% EPS (₹)
+258.8% +103.3%
0.61 0.30 0.17
Quality of profit
Pre-tax profit ₹1.4 Cr: core business ₹0.6 Cr, other income ₹0.8 Cr.
Core profit YoY: +85.3%
· reported profit +256.1%
Cash & debt
FY25 cash from operations −₹9.0 Cr:
-481% of FY25 net profit of ₹1.9 Cr.
Borrowings ₹10.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹17.9 ₹22.7
+26.8% above Net profit ₹0.6 ₹1.5
+146.6% above
M Cap ₹139 Cr
P/E 15.2
PEG —
Operating margin contracted 343 bps YoY 39% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -5%)
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+36.9% -12.6%
15.1 17.2 11.0 Operating profit
+13.1% +3.7%
2.5 2.4 2.2 OPM %
-343 bps +256 bps
16.3% 13.7% 19.7% Other income
+407.7% +18.3%
1.1 0.9 0.2 Net profit
+33.8% +4.5%
2.0 2.0 1.5 PAT margin %
-31 bps +222 bps
13.6% 11.4% 13.9% EPS (₹)
+33.6% +4.3%
3.38 3.24 2.53
Quality of profit
Pre-tax profit ₹2.7 Cr: core business ₹1.7 Cr, other income ₹1.1 Cr.
Core profit YoY: -5.4%
· reported profit +33.8%
Cash & debt
FY25 cash from operations ₹5.9 Cr:
133% of FY25 net profit of ₹4.4 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹12.7 ₹15.1
+19.1% above
M Cap ₹139 Cr
P/E 34.3
PEG —
Profit +37% above its own trend Operating margin expanded 289 bps YoY 56% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +950%)
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+18.2% +3.0%
15.3 14.9 13.0 Operating profit
+188.5% -57.4%
0.8 1.8 0.3 OPM %
+289 bps -693 bps
4.9% 11.8% 2.0% Other income
-26.4% +26.2%
0.5 0.4 0.7 Net profit
+20.0% -48.6%
0.7 1.4 0.6 PAT margin %
+7 bps -471 bps
4.7% 9.4% 4.6% EPS (₹)
+16.7% -48.1%
0.14 0.27 0.12
Quality of profit
Pre-tax profit ₹0.9 Cr: core business ₹0.4 Cr, other income ₹0.5 Cr.
Core profit YoY: +950.0%
· reported profit +20.0%
Cash & debt
FY25 cash from operations ₹2.9 Cr:
72% of FY25 net profit of ₹4.0 Cr.
Borrowings ₹0.8 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹14.3 ₹15.3
+6.8% above Net profit ₹0.5 ₹0.7
+37.1% above
M Cap ₹139 Cr
P/E 65.7
PEG —
Operating margin contracted 1453 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
+82.3% +87.8%
8.0 4.2 4.4 Operating profit
-7.0% +57.6%
1.2 0.8 1.3 OPM %
-1453 bps -290 bps
15.1% 18.0% 29.6% Other income
+20.0% +4.4%
0.4 0.4 0.4 Net profit?
+0.7% +42.1%
1.2 0.8 1.1 PAT margin %
-1178 bps -468 bps
14.5% 19.2% 26.3% EPS (₹)
+0.0% +40.6%
0.90 0.64 0.90
Quality of profit
Pre-tax profit ₹1.5 Cr: core business ₹1.1 Cr, other income ₹0.4 Cr.
Core profit YoY: -5.1%
· reported profit +0.7%
M Cap ₹137 Cr
P/E 22.8
PEG 0.24
Turnaround: profit against a loss a year ago Operating margin expanded 6170 bps YoY 62% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+7.0% -3.3%
16.0 16.5 14.9 Operating profit
+221.0% +92.0%
14.8 7.7 4.6 OPM %
+6170 bps +4592 bps
92.6% 46.6% 30.9% Other income
— +6.4%
7.1 6.7 0.6 Net profit?
from loss -83.3%
1.4 8.6 -0.4 PAT margin %
+1149 bps -4296 bps
8.9% 51.9% -2.5% EPS (₹)
from loss -81.8%
0.06 0.33 -0.05
Quality of profit
Pre-tax profit ₹11.4 Cr: core business ₹4.3 Cr, other income ₹7.1 Cr.
Core profit YoY: from loss
Cash & debt
FY25 cash from operations ₹24.0 Cr:
1446% of FY25 net profit of ₹1.7 Cr.
Borrowings ₹95.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹14.0 ₹16.0
+14.5% above
Profit -79% below its own trend Operating margin contracted 356 bps YoY 70% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-3.8% +3.1%
29.9 29.0 31.1 Operating profit
-58.2% -29.3%
0.8 1.2 2.0 OPM %
-356 bps -126 bps
2.7% 4.0% 6.3% Other income
+115.4% +180.0%
0.3 0.1 0.1 Net profit?
-81.0% -44.1%
0.2 0.3 1.0 PAT margin %
-258 bps -54 bps
0.6% 1.2% 3.2% EPS (₹)
-81.4% -45.0%
0.22 0.40 1.18
Quality of profit
Pre-tax profit ₹0.4 Cr: core business ₹0.1 Cr, other income ₹0.3 Cr.
Core profit YoY: -90.7%
· reported profit -81.0%
Cash & debt
FY25 cash from operations ₹2.0 Cr:
71% of FY25 net profit of ₹2.8 Cr.
Borrowings ₹18.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹34.9 ₹29.9
-14.3% below Net profit ₹0.9 ₹0.2
-78.9% below
M Cap ₹136 Cr
P/E 6.7
PEG 0.39
Profit -29% below its own trend Operating margin contracted 130 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
-2.1% +4.7%
86.4 82.5 88.3 Operating profit
-11.2% +7.8%
10.9 10.2 12.3 OPM %
-130 bps +36 bps
12.7% 12.3% 14.0% Other income
+91.1% +1.1%
1.9 1.9 1.0 Net profit
-9.3% +12.7%
4.6 4.1 5.1 PAT margin %
-42 bps +37 bps
5.3% 4.9% 5.7% EPS (₹)
-10.1% +12.7%
0.62 0.55 0.69
Quality of profit
Pre-tax profit ₹6.0 Cr: core business ₹4.0 Cr, other income ₹1.9 Cr.
Core profit YoY: -29.1%
· reported profit -9.3%
Cash & debt
FY25 cash from operations ₹18.0 Cr:
125% of FY25 net profit of ₹14.4 Cr.
Borrowings ₹116 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹107 ₹86.4
-19.1% below Net profit ₹6.5 ₹4.6
-28.9% below
M Cap ₹136 Cr
P/E 12.4
PEG 0.52
Operating margin contracted 685 bps YoY 41% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+5.8% +20.6%
29.5 24.4 27.8 Operating profit
-21.6% -9.8%
5.8 6.4 7.4 OPM %
-685 bps -662 bps
19.6% 26.2% 26.5% Other income
-44.0% +24.4%
0.5 0.4 0.9 Net profit?
-35.9% -18.3%
1.0 1.2 1.5 PAT margin %
-217 bps -159 bps
3.3% 4.9% 5.5% EPS (₹)
-22.1% -34.6%
0.53 0.81 0.68
Quality of profit
Pre-tax profit ₹1.2 Cr: core business ₹0.7 Cr, other income ₹0.5 Cr.
Core profit YoY: -50.0%
· reported profit -35.9%
Cash & debt
FY25 cash from operations ₹21.0 Cr:
321% of FY25 net profit of ₹6.5 Cr.
Borrowings ₹113 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹26.1 ₹29.5
+12.7% above Net profit ₹0.9 ₹1.0
+3.3% in line
Turnaround: profit against a loss a year ago Operating margin expanded 199 bps YoY All of pre-tax profit came from other income or one-off items FY25 operating cash flow was only 3% of profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+6.0% —
17.6 0.1 16.6 Operating profit
loss narrowed loss narrowed -0.2 -1.0 -0.5 OPM %
+199 bps —
-1.1% — -3.1% Other income
+42.7% -10.9%
3.4 3.9 2.4 Net profit?
from loss from loss 1.4 -2.0 -1.9 PAT margin %
+1996 bps —
8.2% — -11.7% EPS (₹)
+105.3% -54.9%
0.78 1.73 0.38
Quality of profit
Pre-tax profit ₹1.7 Cr: core business −₹1.7 Cr, other income ₹3.4 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations ₹0.6 Cr:
3% of FY25 net profit of ₹20.1 Cr.
Borrowings ₹1.2 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹15.5 ₹17.6
+13.8% 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
