Flash Finance

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.

Updated 13 Oct 2026, 15:50 IST 5073 declared
The next results season has started: 36 companies have filed results for the quarter ended 30 Sep 2026. See them →

Q2 FY26 scoreboard

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

1339 matching results 1339

Page 3 of 45

NBCC (India) Limited

NBCC · Miscellaneous · Q2 FY26 · Consolidated
M Cap
₹20,498 Cr
P/E
26.8
PEG
1.34
  • 52% of pre-tax profit came from other income and one-off items
  • Profit grew faster than the core business (core profit -1%)
₹ CrYoYQoQ Sep 2025Jun 2025Sep 2024
Sales +18.4%+21.7% 2,9102,3912,459
Operating profit +0.8%-8.6% 10111099.9
OPM % -60 bps-115 bps 3.5%4.6%4.1%
Other income +59.1%+44.0% 10774.367.2
Net profit? +25.2%+16.0% 157135125
PAT margin % +29 bps-26 bps 5.4%5.6%5.1%
EPS (₹) +26.7%+16.3% 0.570.490.45

Quality of profit

Core 48%Other income & one-offs 52%

Pre-tax profit ₹205 Cr: core business ₹97.7 Cr, other income ₹107 Cr.

Core profit YoY: -0.8% · reported profit +25.2%

Cash & debt

FY25 cash from operations ₹657 Cr: 118% of FY25 net profit of ₹557 Cr.

Borrowings nil at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹2,869₹2,910 +1.4% in line
Net profit₹160₹157 -2.0% in line
📊 Investor presentation (11 Aug) Detailed financials →

Indraprastha Gas Limited

IGL · Miscellaneous · Q2 FY26 · Consolidated
M Cap
₹20,114 Cr
P/E
14.9
PEG
—
  • Operating margin contracted 319 bps YoY
  • 36% of pre-tax profit came from other income and one-off items
₹ CrYoYQoQ Sep 2025Jun 2025Sep 2024
Sales +8.8%+2.8% 4,4464,3274,088
Operating profit -17.7%-13.6% 441511536
OPM % -319 bps-188 bps 9.9%11.8%13.1%
Other income -36.4%+6.2% 94.989.4149
Net profit? -10.7%-10.0% 385428431
PAT margin % -189 bps-123 bps 8.7%9.9%10.5%
EPS (₹) -10.4%-9.8% 2.763.06adj. 3.08

EPS restated for the 1:1 bonus of Jan 2025: Sep 2024 ₹6.16 to ₹3.08.

Quality of profit

Core 64%Other income & one-offs 36%

Pre-tax profit ₹488 Cr: core business ₹310 Cr, other income ₹94.9 Cr, exceptional & other items ₹82.6 Cr.

Core profit YoY: -25.3% · reported profit -10.7%

Cash & debt

FY25 cash from operations ₹2,199 Cr: 133% of FY25 net profit of ₹1,650 Cr.

Borrowings ₹93.0 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹4,424₹4,446 +0.5% in line
Net profit₹360₹385 +6.9% in line
Detailed financials →

Cemindia Projects Limited

CEMPRO · Construction & Infrastructure · Q2 FY26 · Consolidated
M Cap
₹19,934 Cr
P/E
33.1
PEG
—
  • Profit +14% above its own trend
  • 27% of pre-tax profit came from other income and one-off items
₹ CrYoYQoQ Sep 2025Jun 2025Sep 2024
Sales +9.3%-14.4% 2,1752,5421,991
Operating profit +11.9%-12.7% 203233182
OPM % +22 bps+19 bps 9.3%9.2%9.1%
Other income +71.5%+165.3% 38.514.522.5
Net profit? +49.2%-21.5% 10813772.2
PAT margin % +132 bps-45 bps 5.0%5.4%3.6%
EPS (₹) +49.6%-21.5% 6.277.994.19

Quality of profit

Core 73%Other income & one-offs 27%

Pre-tax profit ₹146 Cr: core business ₹107 Cr, other income ₹38.5 Cr.

Core profit YoY: +38.5% · reported profit +49.2%

Against its own trend ?

TrendActualGap
Sales₹2,201₹2,175 -1.2% in line
Net profit₹94.5₹108 +14.0% above
📊 Investor presentation (20 Aug) Detailed financials →

Azad Engineering Limited

AZAD · Engineering & Capital Goods · Q2 FY26 · Consolidated
M Cap
₹19,170 Cr
P/E
137.4
PEG
0.92
  • 26% of pre-tax profit came from other income and one-off items
  • Profit grew faster than the core business (core profit +21%)
₹ CrYoYQoQ Sep 2025Jun 2025Sep 2024
Sales +30.6%+6.2% 146137112
Operating profit +31.8%+6.7% 52.549.239.9
OPM % +35 bps+17 bps 36.1%35.9%35.7%
Other income +701.4%+40.9% 12.28.71.5
Net profit? +56.2%+10.8% 32.629.420.9
PAT margin % +367 bps+92 bps 22.4%21.5%18.7%
EPS (₹) +42.3%+10.7% 5.054.563.55

Quality of profit

Core 74%Other income & one-offs 26%

Pre-tax profit ₹46.4 Cr: core business ₹34.2 Cr, other income ₹12.2 Cr.

Core profit YoY: +21.1% · reported profit +56.2%

Cash & debt

FY25 cash from operations ₹54.0 Cr: 62% of FY25 net profit of ₹86.7 Cr.

Borrowings ₹263 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹151₹146 -3.9% in line
Net profit₹32.1₹32.6 +1.5% in line
📊 Investor presentation (07 Aug) Detailed financials →

Brigade Enterprises Limited

BRIGADE · Construction & Infrastructure · Q2 FY26 · Consolidated
M Cap
₹18,852 Cr
P/E
24.0
PEG
0.69
  • Operating margin contracted 907 bps YoY
  • 63% of pre-tax profit came from other income and one-off items
  • Profit grew faster than the core business (core profit -27%)
₹ CrYoYQoQ Sep 2025Jun 2025Sep 2024
Sales +29.0%+8.0% 1,3831,2811,072
Operating profit -13.9%+1.5% 251248292
OPM % -907 bps-117 bps 18.2%19.3%27.2%
Other income -29.5%-10.1% 46.551.766.0
Net profit? +47.8%+7.6% 170158115
PAT margin % +156 bps-4 bps 12.3%12.3%10.7%
EPS (₹) +36.6%+8.5% 6.656.134.87

Quality of profit

Core 37%Other income & one-offs 63%

Pre-tax profit ₹196 Cr: core business ₹73.1 Cr, other income ₹46.5 Cr, exceptional & other items ₹76.0 Cr.

Core profit YoY: -27.2% · reported profit +47.8%

Cash & debt

FY25 cash from operations ₹995 Cr: 146% of FY25 net profit of ₹681 Cr.

Borrowings ₹5,464 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹1,097₹1,383 +26.1% above
Net profit₹180₹170 -5.6% in line
📊 Investor presentation (13 Aug) Detailed financials →

Pine Labs Limited

PINELABS · Fintech · Q2 FY26 · Consolidated
M Cap
₹18,810 Cr
P/E
148.1
PEG
—
  • All of pre-tax profit came from other income or one-off items
₹ CrQoQ Sep 2025Jun 2025
Sales +5.5% 650616
Operating profit +67.5% 75.445.0
OPM % +429 bps 11.6%7.3%
Other income -37.8% 23.037.0
Net profit? +19.4% 6.05.0
PAT margin % +11 bps 0.9%0.8%
EPS (₹) -45.5% 0.060.11

Quality of profit

Pre-tax profit ₹11.2 Cr: core business −₹11.8 Cr, other income ₹23.0 Cr.

📊 Investor presentation (28 Jul) Detailed financials →

SIGMA ADVANCED SYSTEMS LIMITED

SIGMAADV · Aerospace & Defence · Q2 FY26 · Consolidated
M Cap
₹18,265 Cr
P/E
109.8
PEG
—
  • Turnaround: profit against a loss a year ago
  • All of pre-tax profit came from other income or one-off items
₹ CrYoY Sep 2025Sep 2024
Sales — 18.00.0
Operating profit from loss 1.0-2.0
OPM % — 5.6%—
Other income -55.6% 4.09.0
Net profit? from loss 4.0-14.0
PAT margin % — 22.2%—
EPS (₹) from loss 0.57-1.93

Quality of profit

Core 0%Other income & one-offs 100%

Pre-tax profit ₹3.0 Cr: core business ₹0.0 Cr, other income ₹4.0 Cr, exceptional & other items −₹1.0 Cr.

Core profit YoY: loss narrowed

Detailed financials →

Elgi Equipments Limited

ELGIEQUIP · Pumps, Compressors & Engines · Q2 FY26 · Consolidated
M Cap
₹18,180 Cr
P/E
40.6
PEG
2.54
  • Profit +16% above its own trend
  • Operating margin contracted 184 bps YoY
  • 33% of pre-tax profit came from other income and one-off items
  • Profit grew faster than the core business (core profit -2%)
₹ CrYoYQoQ Sep 2025Jun 2025Sep 2024
Sales +11.4%+11.7% 968867869
Operating profit -1.2%+15.5% 140121142
OPM % -184 bps+48 bps 14.5%14.0%16.3%
Other income +213.9%+160.9% 51.419.716.4
Net profit? +28.2%+41.8% 12185.694.7
PAT margin % +164 bps+266 bps 12.5%9.9%10.9%
EPS (₹) +28.8%+42.1% 3.852.712.99

Quality of profit

Core 67%Other income & one-offs 33%

Pre-tax profit ₹167 Cr: core business ₹112 Cr, other income ₹51.4 Cr, exceptional & other items ₹3.4 Cr.

Core profit YoY: -1.8% · reported profit +28.2%

Cash & debt

FY25 cash from operations ₹391 Cr: 112% of FY25 net profit of ₹350 Cr.

Borrowings ₹577 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹938₹968 +3.2% in line
Net profit₹105₹121 +16.0% above
Detailed financials →

CESC Limited

CESC · Power Generation & Utilities · Q2 FY26 · Consolidated
M Cap
₹18,064 Cr
P/E
12.6
PEG
2.11
  • Profit +119% above its own trend
  • Operating margin contracted 234 bps YoY
  • 27% of pre-tax profit came from other income and one-off items
  • Profit grew faster than the core business (core profit +76%)
₹ CrYoYQoQ Sep 2025Jun 2025Sep 2024
Sales +91.7%+1.2% 5,2675,2022,748
Operating profit +71.7%+22.8% 1,061864618
OPM % -234 bps+354 bps 20.1%16.6%22.5%
Other income +237.8%-51.1% 15231145.0
Net profit? +104.1%+10.1% 445404218
PAT margin % +52 bps+68 bps 8.4%7.8%7.9%
EPS (₹) +94.5%+9.9% 3.212.921.65

Quality of profit

Core 73%Other income & one-offs 27%

Pre-tax profit ₹565 Cr: core business ₹413 Cr, other income ₹152 Cr.

Core profit YoY: +76.5% · reported profit +104.1%

Cash & debt

FY25 cash from operations ₹2,582 Cr: 203% of FY25 net profit of ₹1,273 Cr.

Borrowings ₹17,978 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹2,978₹5,267 +76.9% above
Net profit₹203₹445 +119.0% above
📊 Investor presentation (18 Sep) Detailed financials →

EIH Limited

EIHOTEL · Hotels & Resorts · Q2 FY26 · Consolidated
M Cap
₹18,004 Cr
P/E
27.4
PEG
1.10
  • Profit -23% below its own trend
  • Operating margin contracted 393 bps YoY
  • 32% of pre-tax profit came from other income and one-off items
  • Exceptional items of ₹8.4 Cr in the quarter
₹ CrYoYQoQ Sep 2025Jun 2025Sep 2024
Sales +1.5%+4.2% 598574589
Operating profit -12.0%-3.8% 154160175
OPM % -393 bps-215 bps 25.7%27.9%29.6%
Other income +3.5%-21.1% 34.844.033.6
Net profit? -12.2%+216.1% 11736.9133
PAT margin % -304 bps+1306 bps 19.5%6.4%22.5%
EPS (₹) -12.5%+237.0% 1.820.542.08

Quality of profit

Core 68%Other income & one-offs 32%

Pre-tax profit ₹166 Cr: core business ₹114 Cr, other income ₹34.8 Cr, exceptional & other items ₹18.1 Cr.

Core profit YoY: -16.3% · reported profit -12.2%

Cash & debt

FY25 cash from operations ₹825 Cr: 107% of FY25 net profit of ₹770 Cr.

Borrowings ₹265 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹647₹598 -7.6% below
Net profit₹151₹117 -22.6% below
📊 Investor presentation (12 Aug) Detailed financials →

Atul Limited

ATUL · Chemicals · Q2 FY26 · Consolidated
M Cap
₹17,602 Cr
P/E
21.7
PEG
2.41
  • Profit -17% below its own trend
  • Operating margin contracted 254 bps YoY
  • 37% of pre-tax profit came from other income and one-off items
  • Profit grew faster than the core business (core profit -7%)
₹ CrYoYQoQ Sep 2025Jun 2025Sep 2024
Sales +11.4%+5.0% 1,5521,4781,393
Operating profit -4.8%-2.0% 231236243
OPM % -254 bps-106 bps 14.9%16.0%17.4%
Other income +42.9%+78.6% 50.028.035.0
Net profit? +30.7%+37.8% 182132140
PAT margin % +173 bps+280 bps 11.8%9.0%10.0%
EPS (₹) +31.0%+40.3% 60.8843.4046.47

Quality of profit

Core 63%Other income & one-offs 37%

Pre-tax profit ₹231 Cr: core business ₹145 Cr, other income ₹50.0 Cr, exceptional & other items ₹36.0 Cr.

Core profit YoY: -6.9% · reported profit +30.7%

Cash & debt

FY25 cash from operations ₹603 Cr: 121% of FY25 net profit of ₹499 Cr.

Borrowings ₹202 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹1,647₹1,552 -5.8% below
Net profit₹220₹182 -17.1% below
Detailed financials →

LMW Limited

LMW · Engineering & Capital Goods · Q2 FY26 · Consolidated
M Cap
₹17,117 Cr
P/E
97.8
PEG
—
  • Profit +235% above its own trend
  • Operating margin expanded 117 bps YoY
  • 75% of pre-tax profit came from other income and one-off items
  • Core business grew faster than reported profit (core profit +238%)
  • FY25 operating cash flow was only 28% of profit
₹ CrYoYQoQ Sep 2025Jun 2025Sep 2024
Sales +6.9%+18.4% 822694769
Operating profit +36.6%+214.6% 44.014.032.2
OPM % +117 bps+334 bps 5.4%2.0%4.2%
Other income +38.2%+17.2% 41.035.029.7
Net profit? +67.3%+272.0% 40.911.024.5
PAT margin % +180 bps+339 bps 5.0%1.6%3.2%
EPS (₹) +67.2%+256.6% 38.3010.7422.90

Quality of profit

Core 25%Other income & one-offs 75%

Pre-tax profit ₹54.9 Cr: core business ₹13.9 Cr, other income ₹41.0 Cr.

Core profit YoY: +238.0% · reported profit +67.3%

Cash & debt

FY25 cash from operations ₹29.0 Cr: 28% of FY25 net profit of ₹103 Cr.

Borrowings nil at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹561₹822 +46.5% above
Net profit₹12.2₹40.9 +234.6% above
Detailed financials →

Onesource Specialty Pharma Limited

ONESOURCE · Miscellaneous · Q2 FY26 · Consolidated
M Cap
₹16,868 Cr
P/E
—
PEG
—
  • Turnaround: profit against a loss a year ago
  • Operating margin expanded 505 bps YoY
  • 67% of pre-tax profit came from other income and one-off items
₹ CrYoYQoQ Sep 2025Jun 2025Sep 2024
Sales +12.6%+15.0% 376327334
Operating profit +37.1%+20.5% 10688.077.3
OPM % +505 bps+128 bps 28.2%26.9%23.1%
Other income from loss+50.0% 3.02.0-1.4
Net profit? from loss-59.7% 10.024.8-42.1
PAT margin % +1526 bps-493 bps 2.7%7.6%-12.6%
EPS (₹) —from loss 0.92-0.02—

Quality of profit

Core 33%Other income & one-offs 67%

Pre-tax profit ₹6.0 Cr: core business ₹2.0 Cr, other income ₹3.0 Cr, exceptional & other items ₹1.0 Cr.

Core profit YoY: from loss

Cash & debt

FY25 cash from operations −₹68.0 Cr.

Borrowings ₹772 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹668₹376 -43.7% below
📊 Investor presentation (03 Sep) Detailed financials →

Engineers India Limited

ENGINERSIN · Construction & Infrastructure · Q2 FY26 · Consolidated
M Cap
₹16,662 Cr
P/E
21.2
PEG
0.82
  • Profit -38% below its own trend
  • Operating margin expanded 394 bps YoY
  • 25% of pre-tax profit came from other income and one-off items
  • Core business grew faster than reported profit (core profit +109%)
  • FY25 operating cash flow was only 19% of profit
₹ CrYoYQoQ Sep 2025Jun 2025Sep 2024
Sales +33.7%+5.9% 921870689
Operating profit +92.0%+66.1% 12072.162.4
OPM % +394 bps+471 bps 13.0%8.3%9.1%
Other income -21.5%+1.4% 36.936.447.0
Net profit? -16.2%+27.7% 83.565.499.6
PAT margin % -540 bps+155 bps 9.1%7.5%14.5%
EPS (₹) -15.8%+28.4% 1.491.161.77

Quality of profit

Core 75%Other income & one-offs 25%

Pre-tax profit ₹146 Cr: core business ₹109 Cr, other income ₹36.9 Cr.

Core profit YoY: +109.3% · reported profit -16.2%

Cash & debt

FY25 cash from operations ₹109 Cr: 19% of FY25 net profit of ₹580 Cr.

Borrowings ₹22.0 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹736₹921 +25.2% above
Net profit₹134₹83.5 -37.9% below
📊 Investor presentation (14 Aug) Detailed financials →

Poly Medicure Limited

POLYMED · Hospitals & Healthcare Services · Q2 FY26 · Consolidated
M Cap
₹16,635 Cr
P/E
53.1
PEG
2.21
  • Profit -20% below its own trend
  • Operating margin contracted 148 bps YoY
  • 29% of pre-tax profit came from other income and one-off items
₹ CrYoYQoQ Sep 2025Jun 2025Sep 2024
Sales +5.7%+10.1% 444403420
Operating profit +0.0%+8.3% 115106115
OPM % -148 bps-42 bps 25.9%26.3%27.4%
Other income +29.6%-16.0% 35.041.727.0
Net profit? +5.7%-1.2% 92.093.187.0
PAT margin % +1 bps-236 bps 20.7%23.1%20.7%
EPS (₹) +5.0%-1.4% 9.069.198.63

Quality of profit

Core 71%Other income & one-offs 29%

Pre-tax profit ₹122 Cr: core business ₹87.0 Cr, other income ₹35.0 Cr.

Core profit YoY: -4.4% · reported profit +5.7%

Cash & debt

FY25 cash from operations ₹240 Cr: 71% of FY25 net profit of ₹338 Cr.

Borrowings ₹180 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹506₹444 -12.3% below
Net profit₹116₹92.0 -20.4% below
📊 Investor presentation (07 Aug) Detailed financials →

Tata Chemicals Limited

TATACHEM · Chemicals · Q2 FY26 · Consolidated
M Cap
₹16,227 Cr
P/E
—
PEG
—
  • Profit -48% below its own trend
  • Operating margin contracted 160 bps YoY
  • 54% of pre-tax profit came from other income and one-off items
  • Exceptional items of ₹-65.0 Cr in the quarter
₹ CrYoYQoQ Sep 2025Jun 2025Sep 2024
Sales -3.1%+4.2% 3,8773,7193,999
Operating profit -13.1%-17.3% 537649618
OPM % -160 bps-360 bps 13.9%17.5%15.5%
Other income +27.8%+43.8% 13896.0108
Net profit? -42.3%-51.3% 154316267
PAT margin % -270 bps-452 bps 4.0%8.5%6.7%
EPS (₹) -60.3%-69.5% 3.029.897.61

Quality of profit

Core 46%Other income & one-offs 54%

Pre-tax profit ₹236 Cr: core business ₹108 Cr, other income ₹138 Cr, exceptional & other items −₹10.0 Cr.

Core profit YoY: -44.9% · reported profit -42.3%

Cash & debt

FY25 cash from operations ₹1,761 Cr: 455% of FY25 net profit of ₹387 Cr.

Borrowings ₹7,072 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹3,963₹3,877 -2.2% in line
Net profit₹294₹154 -47.6% below
📊 Investor presentation (27 Jul) Detailed financials →

IndiGrid Infrastructure Trust

INDIGRID · Power Generation & Utilities · Q2 FY26 · Consolidated
M Cap
₹16,029 Cr
P/E
40.2
PEG
—
  • Profit -70% below its own trend
  • Operating margin contracted 445 bps YoY
  • All of pre-tax profit came from other income or one-off items
₹ CrYoYQoQ Sep 2025Jun 2025Sep 2024
Sales -1.1%-1.5% 827840836
Operating profit -5.9%+2.6% 714696759
OPM % -445 bps+348 bps 86.3%82.9%90.8%
Other income +825.0%+12.1% 37.033.04.0
Net profit? -60.6%-48.0% 39.075.099.0
PAT margin % -713 bps-421 bps 4.7%8.9%11.8%
EPS (₹) -57.4%-40.2% 0.520.871.22

Quality of profit

Pre-tax profit ₹35.0 Cr: core business −₹2.0 Cr, other income ₹37.0 Cr.

Core profit YoY: to loss · reported profit -60.6%

Cash & debt

FY25 cash from operations ₹2,902 Cr: 706% of FY25 net profit of ₹411 Cr.

Borrowings ₹20,097 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹878₹827 -5.8% below
Net profit₹131₹39.0 -70.2% below
Detailed financials →

Travel Food Services Limited

TRAVELFOOD · Restaurants & QSR · Q2 FY26 · Consolidated
M Cap
₹15,976 Cr
P/E
32.8
PEG
—
  • 28% of pre-tax profit came from other income and one-off items
₹ CrQoQ Sep 2025Jun 2025
Sales -5.1% 356375
Operating profit -7.3% 135146
OPM % -89 bps 38.0%38.9%
Other income +68.9% 35.020.7
Net profit? +3.1% 97.995.0
PAT margin % +219 bps 27.5%25.3%
EPS (₹) +4.3% 7.276.97

Quality of profit

Core 72%Other income & one-offs 28%

Pre-tax profit ₹124 Cr: core business ₹88.9 Cr, other income ₹35.0 Cr.

📊 Investor presentation (13 Aug) Detailed financials →

Graphite India Limited

GRAPHITE · Electrodes, Graphite & Refractories · Q2 FY26 · Consolidated
M Cap
₹15,775 Cr
P/E
75.5
PEG
—
  • Profit -30% below its own trend
  • Operating margin contracted 1121 bps YoY
  • 85% of pre-tax profit came from other income and one-off items
  • Profit grew faster than the core business (core profit -81%)
₹ CrYoYQoQ Sep 2025Jun 2025Sep 2024
Sales +13.4%+9.6% 729665643
Operating profit -60.9%+0.0% 43.043.0110
OPM % -1121 bps-57 bps 5.9%6.5%17.1%
Other income -47.0%-40.7% 89.0150168
Net profit? -60.8%-42.9% 76.0133194
PAT margin % -1975 bps-957 bps 10.4%20.0%30.2%
EPS (₹) -60.9%-43.1% 3.916.8710.00

Quality of profit

Core 15%Other income & one-offs 85%

Pre-tax profit ₹105 Cr: core business ₹16.0 Cr, other income ₹89.0 Cr.

Core profit YoY: -81.0% · reported profit -60.8%

Cash & debt

FY25 cash from operations ₹500 Cr: 109% of FY25 net profit of ₹458 Cr.

Borrowings ₹173 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹554₹729 +31.5% above
Net profit₹109₹76.0 -30.5% below
Detailed financials →

Cartrade Tech Limited

CARTRADE · Miscellaneous · Q2 FY26 · Consolidated
M Cap
₹15,482 Cr
P/E
61.2
PEG
0.69
  • Operating margin expanded 1173 bps YoY
  • 35% of pre-tax profit came from other income and one-off items
  • Core business grew faster than reported profit (core profit +174%)
₹ CrYoYQoQ Sep 2025Jun 2025Sep 2024
Sales +25.3%+11.6% 193173154
Operating profit +93.9%+45.5% 64.044.033.0
OPM % +1173 bps+773 bps 33.2%25.4%21.4%
Other income +61.1%+16.0% 29.025.018.0
Net profit? +106.5%+36.2% 64.047.031.0
PAT margin % +1303 bps+599 bps 33.2%27.2%20.1%
EPS (₹) +112.7%+38.8% 12.539.035.89

Quality of profit

Core 65%Other income & one-offs 35%

Pre-tax profit ₹80.0 Cr: core business ₹52.0 Cr, other income ₹29.0 Cr, exceptional & other items −₹1.0 Cr.

Core profit YoY: +173.7% · reported profit +106.5%

Cash & debt

FY25 cash from operations ₹171 Cr: 117% of FY25 net profit of ₹146 Cr.

Borrowings ₹131 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹192₹193 +0.7% in line
Net profit₹62.0₹64.0 +3.2% in line
📊 Investor presentation (24 Sep) Detailed financials →

Honasa Consumer Limited

HONASA · Trading & Distribution · Q2 FY26 · Consolidated
M Cap
₹15,401 Cr
P/E
62.0
PEG
0.53
  • Turnaround: profit against a loss a year ago
  • Operating margin expanded 1563 bps YoY
  • 38% of pre-tax profit came from other income and one-off items
₹ CrYoYQoQ Sep 2025Jun 2025Sep 2024
Sales +16.5%-9.6% 538595462
Operating profit from loss+4.3% 48.046.0-31.0
OPM % +1563 bps+119 bps 8.9%7.7%-6.7%
Other income +0.0%-16.7% 20.024.020.0
Net profit? from loss-4.9% 39.041.0-19.0
PAT margin % +1136 bps+36 bps 7.2%6.9%-4.1%
EPS (₹) from loss-4.7% 1.211.27-0.57

Quality of profit

Core 62%Other income & one-offs 38%

Pre-tax profit ₹53.0 Cr: core business ₹33.0 Cr, other income ₹20.0 Cr.

Core profit YoY: from loss

Cash & debt

FY25 cash from operations ₹102 Cr: 156% of FY25 net profit of ₹65.2 Cr.

Borrowings ₹136 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹458₹538 +17.5% above
📊 Investor presentation (13 Aug) Detailed financials →

Clean Max Enviro Energy Solutions Limited

CLEANMAX · Power Generation & Utilities · Q2 FY26 · Consolidated
M Cap
₹15,200 Cr
P/E
96.6
PEG
—
  • 35% of pre-tax profit came from other income and one-off items
₹ CrQoQ Sep 2025Jun 2025
Sales +32.1% 531402
Operating profit +25.9% 335266
OPM % -308 bps 63.1%66.2%
Other income +200.0% 27.09.0
Net profit? from loss 36.0-17.0
PAT margin % +1101 bps 6.8%-4.2%
EPS (₹) from loss 2.49-2.80

Quality of profit

Core 65%Other income & one-offs 35%

Pre-tax profit ₹79.0 Cr: core business ₹51.0 Cr, other income ₹27.0 Cr, exceptional & other items ₹1.0 Cr.

📊 Investor presentation (31 Jul) Detailed financials →

JSW Cement Limited

JSWCEMENT · Cement · Q2 FY26 · Consolidated
M Cap
₹15,124 Cr
P/E
21.0
PEG
—
  • 28% of pre-tax profit came from other income and one-off items
₹ CrQoQ Sep 2025Jun 2025
Sales -7.9% 1,4361,560
Operating profit -17.2% 268323
OPM % -208 bps 18.6%20.7%
Other income from loss 33.5-1,444
Net profit? from loss 75.4-1,366
PAT margin % +9281 bps 5.2%-87.6%
EPS (₹) from loss 0.71-13.31

Quality of profit

Core 72%Other income & one-offs 28%

Pre-tax profit ₹121 Cr: core business ₹87.7 Cr, other income ₹33.5 Cr.

📊 Investor presentation (28 Aug) Detailed financials →

PG Electroplast Limited

PGEL · Electronic Components · Q2 FY26 · Consolidated
M Cap
₹15,041 Cr
P/E
76.4
PEG
2.12
  • Profit -92% below its own trend
  • Operating margin contracted 381 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
₹ CrYoYQoQ Sep 2025Jun 2025Sep 2024
Sales -2.4%-56.4% 6551,504671
Operating profit -46.6%-75.2% 30.112156.4
OPM % -381 bps-347 bps 4.6%8.1%8.4%
Other income +252.3%-19.8% 14.618.24.1
Net profit? -85.7%-95.9% 2.867.019.3
PAT margin % -246 bps-403 bps 0.4%4.5%2.9%
EPS (₹) -87.8%-96.2% 0.092.370.74

Quality of profit

Pre-tax profit ₹6.3 Cr: core business −₹8.3 Cr, other income ₹14.6 Cr.

Core profit YoY: to loss · reported profit -85.7%

Cash & debt

FY25 cash from operations −₹77.0 Cr: -27% of FY25 net profit of ₹289 Cr.

Borrowings ₹384 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹1,085₹655 -39.6% below
Net profit₹35.3₹2.8 -92.2% below
📊 Investor presentation (06 Aug) Detailed financials →

Gujarat Mineral Development Corporation Limited

GMDCLTD · Mining & Minerals · Q2 FY26 · Consolidated
M Cap
₹14,894 Cr
P/E
15.6
PEG
—
  • Profit +208% above its own trend
  • Operating margin contracted 1053 bps YoY
  • 93% of pre-tax profit came from other income and one-off items
  • Exceptional items of ₹474 Cr in the quarter
  • Profit grew faster than the core business (core profit -61%)
₹ CrYoYQoQ Sep 2025Jun 2025Sep 2024
Sales -11.0%-28.0% 528733593
Operating profit -50.7%-59.2% 69.0169140
OPM % -1053 bps-999 bps 13.1%23.1%23.6%
Other income +840.3%+647.4% 58378.062.0
Net profit? +264.3%+184.4% 466164128
PAT margin % +6672 bps+6593 bps 88.3%22.4%21.6%
EPS (₹) +264.4%+184.5% 14.655.154.02

Quality of profit

Core 7%Other income & one-offs 93%

Pre-tax profit ₹630 Cr: core business ₹46.0 Cr, other income ₹583 Cr, exceptional & other items ₹0.7 Cr.

Core profit YoY: -61.0% · reported profit +264.3%

Cash & debt

FY25 cash from operations ₹1,059 Cr: 154% of FY25 net profit of ₹687 Cr.

Borrowings ₹126 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹654₹528 -19.3% below
Net profit₹151₹466 +208.0% above
Detailed financials →

DCM Shriram Limited

DCMSHRIRAM · Diversified Conglomerates · Q2 FY26 · Consolidated
M Cap
₹14,775 Cr
P/E
10.3
PEG
—
  • Profit +90% above its own trend
  • Operating margin expanded 366 bps YoY
  • 40% of pre-tax profit came from other income and one-off items
  • Core business grew faster than reported profit (core profit +251%)
₹ CrYoYQoQ Sep 2025Jun 2025Sep 2024
Sales +4.5%+0.3% 3,2723,2623,130
Operating profit +70.5%+1.6% 309304181
OPM % +366 bps+12 bps 9.4%9.3%5.8%
Other income +83.7%+350.0% 99.022.053.9
Net profit? +152.7%+39.5% 15911462.9
PAT margin % +285 bps+136 bps 4.9%3.5%2.0%
EPS (₹) +150.7%+39.3% 10.137.274.04

Quality of profit

Core 60%Other income & one-offs 40%

Pre-tax profit ₹246 Cr: core business ₹147 Cr, other income ₹99.0 Cr.

Core profit YoY: +251.0% · reported profit +152.7%

Cash & debt

FY25 cash from operations ₹1,128 Cr: 187% of FY25 net profit of ₹604 Cr.

Borrowings ₹2,529 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹3,623₹3,272 -9.7% below
Net profit₹83.5₹159 +90.3% above
📊 Investor presentation (28 Jul) Detailed financials →

PC Jeweller Limited

PCJEWELLER · Gems & Jewellery · Q2 FY26 · Consolidated
M Cap
₹14,712 Cr
P/E
19.0
PEG
0.25
  • Operating margin expanded 456 bps YoY
  • 34% of pre-tax profit came from other income and one-off items
  • Core business grew faster than reported profit (core profit +71%)
  • Operating cash flow was negative in FY25 despite a profit
₹ CrYoYQoQ Sep 2025Jun 2025Sep 2024
Sales +63.4%+13.8% 825725505
Operating profit +107.3%+39.7% 17812785.8
OPM % +456 bps+399 bps 21.5%17.6%17.0%
Other income +59.9%-16.0% 69.783.043.6
Net profit? +17.1%+29.4% 210162179
PAT margin % -1003 bps+305 bps 25.4%22.3%35.4%
EPS (₹) —+20.0% 0.300.253.84

No EPS growth against Sep 2024: ₹10 to ₹1 split in Dec 2024.

Quality of profit

Core 66%Other income & one-offs 34%

Pre-tax profit ₹206 Cr: core business ₹136 Cr, other income ₹69.7 Cr.

Core profit YoY: +70.8% · reported profit +17.1%

Cash & debt

FY25 cash from operations −₹633 Cr: -110% of FY25 net profit of ₹578 Cr.

Borrowings ₹2,151 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹1,010₹825 -18.3% below
Detailed financials →

Zen Technologies Limited

ZENTEC · Miscellaneous · Q2 FY26 · Consolidated
M Cap
₹14,481 Cr
P/E
58.0
PEG
0.87
  • Operating margin expanded 594 bps YoY
  • 30% of pre-tax profit came from other income and one-off items
  • Profit grew faster than the core business (core profit +51%)
  • Operating cash flow was negative in FY25 despite a profit
₹ CrYoYQoQ Sep 2025Jun 2025Sep 2024
Sales +37.2%+109.7% 332158242
Operating profit +61.8%+100.1% 12964.780.0
OPM % +594 bps-188 bps 39.0%40.9%33.1%
Other income +488.8%+116.2% 47.121.88.0
Net profit? +81.3%+116.6% 11553.163.4
PAT margin % +842 bps+111 bps 34.7%33.5%26.2%
EPS (₹) +64.2%+124.5% 11.925.317.26

Quality of profit

Core 70%Other income & one-offs 30%

Pre-tax profit ₹159 Cr: core business ₹112 Cr, other income ₹47.1 Cr.

Core profit YoY: +51.2% · reported profit +81.3%

Cash & debt

FY25 cash from operations −₹146 Cr: -30% of FY25 net profit of ₹484 Cr.

Borrowings ₹78.0 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹484₹332 -31.4% below
Net profit₹127₹115 -9.4% in line
📊 Investor presentation (26 Jul) Detailed financials →

Tega Industries Limited

TEGA · Engineering & Capital Goods · Q2 FY26 · Consolidated
M Cap
₹14,289 Cr
P/E
—
PEG
—
  • Profit +493% above its own trend
  • Operating margin expanded 735 bps YoY
  • 31% of pre-tax profit came from other income and one-off items
₹ CrYoYQoQ Sep 2025Jun 2025Sep 2024
Sales +14.7%+13.8% 405356353
Operating profit +101.5%+24.5% 69.255.634.4
OPM % +735 bps+146 bps 17.1%15.6%9.7%
Other income +16.6%-6.8% 15.716.913.5
Net profit? +522.4%+27.2% 44.935.37.2
PAT margin % +904 bps+116 bps 11.1%9.9%2.0%
EPS (₹) +525.0%+27.1% 6.755.311.08

Quality of profit

Core 69%Other income & one-offs 31%

Pre-tax profit ₹58.7 Cr: core business ₹40.6 Cr, other income ₹15.7 Cr, exceptional & other items ₹2.4 Cr.

Core profit YoY: — · reported profit +522.4%

Cash & debt

FY25 cash from operations ₹195 Cr: 97% of FY25 net profit of ₹200 Cr.

Borrowings ₹330 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹372₹405 +9.0% above
Net profit₹7.6₹44.9 +492.7% above
📊 Investor presentation (13 Aug) Detailed financials →

JSW Dulux Limited

JSWDULUX · Paints · Q2 FY26 · Standalone
M Cap
₹13,894 Cr
P/E
7.1
PEG
—
  • 95% of pre-tax profit came from other income and one-off items
₹ CrQoQ Sep 2025Jun 2025
Sales -16.1% 835995
Operating profit -17.2% 111134
OPM % -17 bps 13.3%13.5%
Other income — 1,8829.0
Net profit — 1,68391.0
EPS (₹) — 369.5019.98

Quality of profit

Core 5%Other income & one-offs 95%

Pre-tax profit ₹1,972 Cr: core business ₹91.0 Cr, other income ₹1,882 Cr, exceptional & other items −₹1.0 Cr.

📊 Investor presentation (13 May) Detailed financials →

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.

Results calendarWho reports results today, tomorrow and this week. Strong quarterly resultsCompanies whose latest quarter showed profit up 30% or more. Live announcementsEvery NSE/BSE filing with an AI read, as it arrives. Company fundamentalsTen years of quarterly and annual financials.
⚠️ How this site is made: Market data pages are computed automatically from NSE/BSE publications and company filings; news articles and announcement analyses are written with AI assistance, with a human in the loop: our editors review what the AI produces. Both can contain errors. Verify with the original sources before any investment decision. Not investment advice; Flash Finance is not SEBI-registered. How we use AI