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 ₹2,372 Cr
P/E 0.5
PEG 0.01
90% of pre-tax profit came from other income and one-off items Exceptional items of ₹1,509 Cr in the quarter
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
— —
6,235 53.5 61.6 Operating profit
+72.7% +339.7%
1,055 240 611 OPM %
— —
16.9% — — Other income
-98.0% -91.2%
74.6 849 3,744 Net profit?
-54.4% +526.6%
1,911 305 4,195 PAT margin %
— —
30.7% — — EPS (₹)
-54.0% —
47.37 1.46 103.06
Quality of profit
Pre-tax profit ₹2,546 Cr: core business ₹243 Cr, other income ₹74.6 Cr, exceptional & other items ₹2,228 Cr.
Core profit YoY: from loss
· reported profit -54.4%
Cash & debt
FY25 cash from operations ₹3,657 Cr:
71% of FY25 net profit of ₹5,162 Cr.
Borrowings ₹6,361 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹30.8 ₹6,235
+999.0% above
All of pre-tax profit came from other income or one-off items
₹ Cr QoQ
Sep 2025 Jun 2025
Sales
+7.6%
857 797 Operating profit
+48.7%
17.4 11.7 OPM %
+56 bps
2.0% 1.5% Other income
+510.3%
5.3 0.9 Net profit?
from loss 3.5 -7.2 PAT margin %
+131 bps
0.4% -0.9% EPS (₹)
from loss 0.35 -0.32
Quality of profit
Pre-tax profit ₹2.2 Cr: core business −₹3.1 Cr, other income ₹5.3 Cr.
Profit -65% below its own trend Operating margin contracted 106 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
-5.9% -14.3%
236 275 250 Operating profit
-18.7% -23.7%
15.8 20.7 19.4 OPM %
-106 bps -83 bps
6.7% 7.5% 7.7% Other income
+732.6% +78.2%
5.3 3.0 0.6 Net profit?
-64.8% -83.0%
1.4 8.2 3.9 PAT margin %
-99 bps -238 bps
0.6% 3.0% 1.6% EPS (₹)
-61.1% -80.0%
0.37 1.85 0.95
Quality of profit
Pre-tax profit ₹4.1 Cr: core business −₹1.2 Cr, other income ₹5.3 Cr.
Core profit YoY: to loss
· reported profit -64.8%
Cash & debt
FY25 cash from operations ₹29.0 Cr:
85% of FY25 net profit of ₹34.1 Cr.
Borrowings ₹93.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹266 ₹236
-11.3% below Net profit ₹4.0 ₹1.4
-65.1% below
M Cap ₹2,336 Cr
P/E 144.9
PEG 1.04
Operating margin expanded 419 bps YoY 26% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -39%)
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-17.2% -7.8%
653 708 789 Operating profit
+1.4% +5.7%
149 141 147 OPM %
+419 bps +290 bps
22.8% 19.9% 18.6% Other income
+100.0% -63.6%
8.0 22.0 4.0 Net profit?
+97.0% +182.6%
65.0 23.0 33.0 PAT margin %
+577 bps +671 bps
10.0% 3.2% 4.2% EPS (₹)
+97.2% +179.2%
4.16 1.49 2.11
Quality of profit
Pre-tax profit ₹31.0 Cr: core business ₹23.0 Cr, other income ₹8.0 Cr.
Core profit YoY: -39.5%
· reported profit +97.0%
Cash & debt
FY25 cash from operations ₹375 Cr:
10653% of FY25 net profit of ₹3.5 Cr.
Borrowings ₹2,389 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,064 ₹653
-38.6% below
M Cap ₹2,300 Cr
P/E 11.2
PEG 0.59
Profit -29% below its own trend Operating margin contracted 676 bps YoY 87% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -89%) FY25 operating cash flow was only 19% of profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-26.2% -31.6%
352 514 476 Operating profit
-77.7% -82.5%
10.3 58.8 46.1 OPM %
-676 bps -851 bps
2.9% 11.4% 9.7% Other income
+704.4% +372.9%
27.2 5.8 3.4 Net profit?
-23.7% -46.9%
26.4 49.7 34.6 PAT margin %
+24 bps -216 bps
7.5% 9.7% 7.3% EPS (₹)
-23.8% -46.9%
15.52 29.23 20.36
Quality of profit
Pre-tax profit ₹31.2 Cr: core business ₹4.0 Cr, other income ₹27.2 Cr.
Core profit YoY: -89.2%
· reported profit -23.7%
Cash & debt
FY25 cash from operations ₹30.0 Cr:
19% of FY25 net profit of ₹154 Cr.
Borrowings ₹22.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹471 ₹352
-25.3% below Net profit ₹37.4 ₹26.4
-29.4% below
M Cap ₹2,265 Cr
P/E 63.0
PEG 12.60
Profit -82% below its own trend Operating margin contracted 403 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
-15.2% +9.7%
133 121 157 Operating profit
-47.4% -44.3%
8.7 15.7 16.6 OPM %
-403 bps -637 bps
6.6% 12.9% 10.6% Other income
-12.1% +38.8%
5.7 4.1 6.5 Net profit
-64.1% -55.8%
3.6 8.2 10.1 PAT margin %
-371 bps -404 bps
2.7% 6.8% 6.4% EPS (₹)
-64.1% -55.8%
14.11 31.92 39.28
Quality of profit
Pre-tax profit ₹4.9 Cr: core business −₹0.8 Cr, other income ₹5.7 Cr.
Core profit YoY: to loss
· reported profit -64.1%
Cash & debt
FY25 cash from operations ₹39.0 Cr:
152% of FY25 net profit of ₹25.6 Cr.
Borrowings ₹72.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹202 ₹133
-34.1% below Net profit ₹20.2 ₹3.6
-82.0% below
M Cap ₹2,246 Cr
P/E 89.4
PEG —
Profit -68% below its own trend Operating margin contracted 2622 bps YoY 60% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+232.3% +300.5%
315 78.7 94.8 Operating profit
-28.2% -29.3%
22.8 32.2 31.7 OPM %
-2622 bps -3368 bps
7.2% 40.9% 33.4% Other income
-49.7% -15.9%
2.4 2.9 4.8 Net profit?
-73.8% -93.5%
2.8 43.9 10.8 PAT margin %
-1051 bps -5488 bps
0.9% 55.8% 11.4% EPS (₹)
-74.4% -93.7%
0.21 3.32 0.82
Quality of profit
Pre-tax profit ₹4.0 Cr: core business ₹1.6 Cr, other income ₹2.4 Cr.
Core profit YoY: -81.8%
· reported profit -73.8%
Cash & debt
FY25 cash from operations ₹161 Cr:
109% of FY25 net profit of ₹147 Cr.
Borrowings ₹121 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹66.2 ₹315
+376.1% above Net profit ₹8.9 ₹2.8
-68.4% below
M Cap ₹2,239 Cr
P/E 32.7
PEG 3.64
Turnaround: profit against a loss a year ago Operating margin contracted 284 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
+12.1% +5.8%
480 454 429 Operating profit
-29.6% -51.7%
23.0 47.6 32.7 OPM %
-284 bps -570 bps
4.8% 10.5% 7.6% Other income
+292.9% +392.1%
19.9 4.0 5.1 Net profit?
from loss -37.1%
6.0 9.5 -0.2 PAT margin %
+130 bps -85 bps
1.2% 2.1% -0.1% EPS (₹)
from loss -38.2%
0.47 0.76 -0.02
Quality of profit
Pre-tax profit ₹5.6 Cr: core business −₹14.3 Cr, other income ₹19.9 Cr.
Core profit YoY: loss widened
Cash & debt
FY25 cash from operations ₹114 Cr:
633% of FY25 net profit of ₹18.0 Cr.
Borrowings ₹911 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹524 ₹480
-8.3% below
M Cap ₹2,233 Cr
P/E 28.6
PEG 0.60
Profit -94% below its own trend Operating margin contracted 4678 bps YoY 90% 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
+111.1% +11.8%
209 187 99.0 Operating profit
-49.2% -24.4%
31.0 41.0 61.0 OPM %
-4678 bps -709 bps
14.8% 21.9% 61.6% Other income
+37.5% +14.6%
55.0 48.0 40.0 Net profit?
-88.9% -96.9%
2.5 82.0 22.8 PAT margin %
-2178 bps -4264 bps
1.2% 43.9% 23.0% EPS (₹)
+31.0% -71.1%
1.69 5.85 1.29
Quality of profit
Pre-tax profit ₹29.3 Cr: core business ₹3.0 Cr, other income ₹55.0 Cr, exceptional & other items −₹28.7 Cr.
Core profit YoY: from loss
· reported profit -88.9%
Cash & debt
FY25 cash from operations −₹580 Cr:
-760% of FY25 net profit of ₹76.3 Cr.
Borrowings ₹793 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹165 ₹209
+26.9% above Net profit ₹45.5 ₹2.5
-94.4% below
M Cap ₹2,200 Cr
P/E 14.1
PEG —
Profit -47% below its own trend 44% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+21.1% +14.9%
919 800 759 Operating profit
+18.3% +12.0%
103 92.0 87.0 OPM %
-26 bps -29 bps
11.2% 11.5% 11.5% Other income
+26.7% +4.2%
25.0 24.0 19.7 Net profit?
+2.7% +9.3%
47.0 43.0 45.8 PAT margin %
-91 bps -26 bps
5.1% 5.4% 6.0% EPS (₹)
+0.8% +8.9%
17.79 16.33 17.65
Quality of profit
Pre-tax profit ₹57.0 Cr: core business ₹32.0 Cr, other income ₹25.0 Cr.
Core profit YoY: -14.6%
· reported profit +2.7%
Cash & debt
FY25 cash from operations ₹166 Cr:
125% of FY25 net profit of ₹133 Cr.
Borrowings ₹1,438 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹874 ₹919
+5.1% above Net profit ₹88.7 ₹47.0
-47.0% below
M Cap ₹2,196 Cr
P/E 48.5
PEG 0.75
Profit -12% below its own trend Operating margin contracted 332 bps YoY 38% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -19%)
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+13.6% +2.9%
71.0 69.0 62.5 Operating profit
-0.2% +13.3%
17.0 15.0 17.0 OPM %
-332 bps +220 bps
23.9% 21.7% 27.3% Other income
+227.1% +0.0%
5.0 5.0 1.5 Net profit?
+19.3% +11.1%
10.0 9.0 8.4 PAT margin %
+67 bps +104 bps
14.1% 13.0% 13.4% EPS (₹)
-2.6% +2.8%
0.37 0.36 0.38
Quality of profit
Pre-tax profit ₹13.0 Cr: core business ₹8.0 Cr, other income ₹5.0 Cr.
Core profit YoY: -18.7%
· reported profit +19.3%
Cash & debt
FY25 cash from operations ₹28.0 Cr:
84% of FY25 net profit of ₹33.4 Cr.
Borrowings ₹47.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹89.2 ₹71.0
-20.4% below Net profit ₹11.3 ₹10.0
-11.6% below
M Cap ₹2,132 Cr
P/E 16.8
PEG 2.09
Profit -89% below its own trend Operating margin contracted 191 bps YoY 45% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+52.7% +4.3%
1,399 1,341 916 Operating profit
+19.8% -4.9%
97.0 102 81.0 OPM %
-191 bps -67 bps
6.9% 7.6% 8.8% Other income
-90.5% -36.4%
21.0 33.0 222 Net profit?
-83.2% -45.6%
31.0 57.0 185 PAT margin %
-1798 bps -203 bps
2.2% 4.3% 20.2% EPS (₹)
-86.8% -53.8%
16.45 35.57 124.44
Quality of profit
Pre-tax profit ₹47.0 Cr: core business ₹26.0 Cr, other income ₹21.0 Cr.
Core profit YoY: +0.0%
· reported profit -83.2%
Cash & debt
FY25 cash from operations ₹513 Cr:
232% of FY25 net profit of ₹221 Cr.
Borrowings ₹1,060 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,402 ₹1,399
-0.2% in line Net profit ₹293 ₹31.0
-89.4% below
M Cap ₹2,105 Cr
P/E 632.0
PEG —
39% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +202%)
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+7.4% +29.7%
25.1 19.4 23.4 Operating profit
+7.3% +710.2%
7.2 0.9 6.7 OPM %
-4 bps +2406 bps
28.7% 4.6% 28.7% Other income
+141.5% -23.0%
1.3 1.7 0.5 Net profit
+297.5% from loss 3.1 -2.8 0.8 PAT margin %
+912 bps +2688 bps
12.5% -14.4% 3.4% EPS (₹)
+296.2% from loss 5.23 -4.64 1.32
Quality of profit
Pre-tax profit ₹3.3 Cr: core business ₹2.0 Cr, other income ₹1.3 Cr.
Core profit YoY: +201.5%
· reported profit +297.5%
Cash & debt
FY25 cash from operations ₹170 Cr.
Borrowings ₹145 Cr at Sep 2025, against ₹186 Cr at Mar 2025 (-22% ).
Against its own trend ?
Trend Actual Gap
Sales ₹25.1 ₹25.1
+0.2% in line
Turnaround: profit against a loss a year ago Operating margin expanded 662 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
+63.2% -28.3%
108 150 66.0 Operating profit
loss widened to loss -13.7 49.6 -12.8 OPM %
+662 bps -4576 bps
-12.7% 33.0% -19.3% Other income
+139.1% +0.7%
3.5 3.5 1.5 Net profit?
from loss -98.0%
0.9 47.5 -34.6 PAT margin %
+5330 bps -3072 bps
0.9% 31.6% -52.4% EPS (₹)
from loss -98.1%
0.04 2.08 -4.81
Quality of profit
Pre-tax profit ₹0.9 Cr: core business −₹2.6 Cr, other income ₹3.5 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations −₹148 Cr.
Borrowings ₹291 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹77.7 ₹108
+38.6% above
M Cap ₹2,067 Cr
P/E 21.7
PEG 3.10
Profit -93% below its own trend Operating margin contracted 1418 bps YoY 75% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-52.8% -30.7%
118 171 251 Operating profit
-72.3% -56.7%
23.8 54.9 86.0 OPM %
-1418 bps -1205 bps
20.1% 32.1% 34.3% Other income
+269.8% +166.2%
7.4 2.8 2.0 Net profit?
-85.9% -77.6%
6.3 28.3 45.0 PAT margin %
-1258 bps -1120 bps
5.3% 16.6% 17.9% EPS (₹)
-85.9% -77.7%
2.04 9.13 14.50
Quality of profit
Pre-tax profit ₹9.8 Cr: core business ₹2.4 Cr, other income ₹7.4 Cr.
Core profit YoY: -96.3%
· reported profit -85.9%
Cash & debt
FY25 cash from operations ₹191 Cr:
102% of FY25 net profit of ₹188 Cr.
Borrowings ₹370 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹328 ₹118
-63.9% below Net profit ₹84.6 ₹6.3
-92.5% below
M Cap ₹2,026 Cr
P/E 4.9
PEG 0.27
Profit -19% below its own trend Operating margin expanded 375 bps YoY 65% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+1.7% +0.9%
107 106 105 Operating profit
+15.4% +6.2%
34.0 32.0 29.5 OPM %
+375 bps +159 bps
31.8% 30.2% 28.0% Other income
+30.5% +43.5%
2.9 2.0 2.2 Net profit?
+15.6% +7.7%
28.0 26.0 24.2 PAT margin %
+313 bps +164 bps
26.2% 24.5% 23.0% EPS (₹)
+13.7% +6.0%
4.39 4.14 3.86
Quality of profit
Pre-tax profit ₹73.2 Cr: core business ₹25.3 Cr, other income ₹2.9 Cr, exceptional & other items ₹45.0 Cr.
Core profit YoY: +7.0%
· reported profit +15.6%
Cash & debt
FY25 cash from operations ₹116 Cr:
99% of FY25 net profit of ₹117 Cr.
Borrowings ₹44.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹120 ₹107
-10.8% below Net profit ₹34.7 ₹28.0
-19.4% below
M Cap ₹1,991 Cr
P/E 98.6
PEG 3.65
Profit -99% below its own trend Operating margin expanded 748 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
-4.7% -4.0%
363 378 381 Operating profit
loss narrowed loss narrowed -12.7 -14.0 -41.8 OPM %
+748 bps +21 bps
-3.5% -3.7% -11.0% Other income
+0.5% -19.1%
29.7 36.7 29.5 Net profit?
-99.5% -86.1%
1.9 13.8 393 PAT margin %
— -313 bps
0.5% 3.7% — EPS (₹)
-99.5% -86.6%
0.09 0.67 19.03
Quality of profit
Pre-tax profit ₹4.7 Cr: core business −₹24.9 Cr, other income ₹29.7 Cr.
Core profit YoY: loss narrowed
· reported profit -99.5%
Cash & debt
FY25 cash from operations −₹17.0 Cr:
-3% of FY25 net profit of ₹490 Cr.
Borrowings ₹3.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹344 ₹363
+5.4% above Net profit ₹197 ₹1.9
-99.0% below
Operating margin contracted 517 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
+0.6% +15.8%
196 170 195 Operating profit
-88.2% from loss 1.4 -0.9 11.4 OPM %
-517 bps +124 bps
0.7% -0.5% 5.9% Other income
-31.3% -21.0%
2.5 3.1 3.6 Net profit
-91.6% from loss 0.6 -0.3 7.5 PAT margin %
-352 bps +52 bps
0.3% -0.2% 3.8% EPS (₹)
-93.0% from loss 0.03 -0.02 0.43
Quality of profit
Pre-tax profit ₹0.9 Cr: core business −₹1.6 Cr, other income ₹2.5 Cr.
Core profit YoY: to loss
· reported profit -91.6%
Turnaround: profit against a loss a year ago Operating margin expanded 219 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
+20.1% -7.4%
1,432 1,546 1,192 Operating profit
+42.7% -2.0%
198 202 139 OPM %
+219 bps +76 bps
13.8% 13.1% 11.6% Other income
-17.6% +693.8%
7.6 1.0 9.2 Net profit?
from loss +34.0%
15.0 11.2 -13.2 PAT margin %
+215 bps +32 bps
1.0% 0.7% -1.1% EPS (₹)
from loss +5.0%
0.21 0.20 -0.14
Quality of profit
Pre-tax profit ₹38.7 Cr: core business −₹170 Cr, other income ₹7.6 Cr, exceptional & other items ₹201 Cr.
Core profit YoY: loss widened
Cash & debt
FY25 cash from operations ₹843 Cr:
3283% of FY25 net profit of ₹25.7 Cr.
Borrowings ₹4,008 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,201 ₹1,432
+19.2% above
M Cap ₹1,949 Cr
P/E 41.7
PEG 1.49
Turnaround: profit against a loss a year ago Operating margin expanded 532 bps YoY 69% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-7.5% +2.1%
248 243 268 Operating profit
+429.8% +100.0%
16.0 8.0 3.0 OPM %
+532 bps +316 bps
6.5% 3.3% 1.1% Other income
+174.7% +0.0%
10.0 10.0 3.6 Net profit?
from loss +80.0%
9.0 5.0 -10.7 PAT margin %
+763 bps +157 bps
3.6% 2.1% -4.0% EPS (₹)
from loss +80.0%
1.08 0.60 -1.88
Quality of profit
Pre-tax profit ₹13.0 Cr: core business ₹4.0 Cr, other income ₹10.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: from loss
Cash & debt
FY25 cash from operations ₹208 Cr:
1857% of FY25 net profit of ₹11.2 Cr.
Borrowings ₹2,174 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹215 ₹248
+15.5% above
M Cap ₹1,945 Cr
P/E 504.0
PEG —
Profit -45% below its own trend Operating margin contracted 308 bps YoY 60% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-10.0% -0.6%
74.3 74.8 82.5 Operating profit
-31.1% -3.5%
7.5 7.7 10.8 OPM %
-308 bps -30 bps
10.0% 10.3% 13.1% Other income
+44.0% +72.4%
1.3 0.8 0.9 Net profit?
-60.5% -10.0%
1.6 1.8 4.1 PAT margin %
-279 bps -23 bps
2.2% 2.4% 5.0% EPS (₹)
-60.6% -10.1%
0.71 0.79 1.80
Quality of profit
Pre-tax profit ₹2.2 Cr: core business ₹0.9 Cr, other income ₹1.3 Cr.
Core profit YoY: -79.8%
· reported profit -60.5%
Cash & debt
FY25 cash from operations ₹20.0 Cr:
210% of FY25 net profit of ₹9.5 Cr.
Borrowings ₹53.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹81.7 ₹74.3
-9.0% below Net profit ₹3.0 ₹1.6
-45.2% below
M Cap ₹1,915 Cr
P/E 42.1
PEG —
Profit +999% above its own trend Operating margin contracted 127 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
+33.5% +14.0%
1,211 1,062 907 Operating profit
+3.9% -11.5%
54.0 61.0 52.0 OPM %
-127 bps -128 bps
4.5% 5.7% 5.7% Other income
+78.8% +0.0%
5.0 5.0 2.8 Net profit?
+504.2% -71.4%
2.0 7.0 0.3 PAT margin %
+13 bps -49 bps
0.2% 0.7% 0.0% EPS (₹)
from loss -82.6%
0.29 1.67 -0.01
Quality of profit
Pre-tax profit ₹1.0 Cr: core business −₹4.0 Cr, other income ₹5.0 Cr.
Core profit YoY: to loss
· reported profit +504.2%
Cash & debt
FY25 cash from operations ₹152 Cr:
855% of FY25 net profit of ₹17.8 Cr.
Borrowings ₹870 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,138 ₹1,211
+6.4% above Net profit ₹0.2 ₹2.0
+999.0% above
M Cap ₹1,884 Cr
P/E 28.5
PEG —
Profit +97% above its own trend Operating margin expanded 230 bps YoY 67% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +150%) FY25 operating cash flow was only 28% of profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-0.6% +13.5%
176 155 177 Operating profit
+57.1% +37.5%
11.0 8.0 7.0 OPM %
+230 bps +109 bps
6.2% 5.2% 4.0% Other income
-10.0% -10.0%
9.0 10.0 10.0 Net profit
+22.2% +22.2%
11.0 9.0 9.0 PAT margin %
+117 bps +44 bps
6.2% 5.8% 5.1% EPS (₹)
+30.8% +17.8%
11.01 9.35 8.42
Quality of profit
Pre-tax profit ₹15.0 Cr: core business ₹5.0 Cr, other income ₹9.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +150.0%
· reported profit +22.2%
Cash & debt
FY25 cash from operations ₹22.0 Cr:
28% of FY25 net profit of ₹80.0 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹164 ₹176
+7.4% above Net profit ₹5.6 ₹11.0
+97.0% above
M Cap ₹1,839 Cr
P/E 7.5
PEG 0.17
Profit -16% below its own trend Operating margin contracted 692 bps YoY 53% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -42%)
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-10.6% +24.4%
472 379 527 Operating profit
-35.9% +9.1%
82.7 75.8 129 OPM %
-692 bps -246 bps
17.5% 20.0% 24.5% Other income
+60.8% -6.5%
57.2 61.1 35.6 Net profit?
-8.9% -1.8%
75.6 77.0 83.0 PAT margin %
+30 bps -428 bps
16.0% 20.3% 15.7% EPS (₹)
-3.8% +1.1%
10.87 10.75 11.30
Quality of profit
Pre-tax profit ₹108 Cr: core business ₹50.4 Cr, other income ₹57.2 Cr.
Core profit YoY: -41.6%
· reported profit -8.9%
Cash & debt
FY25 cash from operations ₹373 Cr:
177% of FY25 net profit of ₹210 Cr.
Borrowings ₹570 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹461 ₹472
+2.3% in line Net profit ₹90.1 ₹75.6
-16.0% below
M Cap ₹1,833 Cr
P/E 30.4
PEG 3.80
Profit -26% below its own trend Operating margin contracted 735 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
+20.3% -5.1%
428 451 356 Operating profit
-80.2% -59.1%
6.2 15.2 31.3 OPM %
-735 bps -191 bps
1.4% 3.4% 8.8% Other income
+760.6% +10.9%
19.6 17.7 2.3 Net profit?
-34.8% -28.4%
13.2 18.5 20.3 PAT margin %
-262 bps -101 bps
3.1% 4.1% 5.7% EPS (₹)
-35.8% -29.5%
0.43 0.61 0.67
Quality of profit
Pre-tax profit ₹17.8 Cr: core business −₹1.8 Cr, other income ₹19.6 Cr.
Core profit YoY: to loss
· reported profit -34.8%
Cash & debt
FY25 cash from operations ₹104 Cr:
120% of FY25 net profit of ₹87.0 Cr.
Borrowings ₹33.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹501 ₹428
-14.6% below Net profit ₹17.9 ₹13.2
-25.8% below
M Cap ₹1,826 Cr
P/E 23.7
PEG 3.94
Profit +61% above its own trend 53% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +14%)
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+14.7% +10.8%
362 327 315 Operating profit
+34.3% -37.4%
15.0 24.0 11.2 OPM %
+60 bps -319 bps
4.1% 7.3% 3.5% Other income
+111.3% +30.7%
10.0 7.7 4.7 Net profit?
+63.1% -21.4%
15.0 19.1 9.2 PAT margin %
+123 bps -170 bps
4.1% 5.8% 2.9% EPS (₹)
+56.9% -22.8%
0.80 adj. 1.04adj. 0.51
EPS restated for the 2:1 bonus of Dec 2025: Jun 2025 ₹3.11 to ₹1.04; Sep 2024 ₹1.53 to ₹0.51.
Quality of profit
Pre-tax profit ₹19.0 Cr: core business ₹9.0 Cr, other income ₹10.0 Cr.
Core profit YoY: +13.6%
· reported profit +63.1%
Cash & debt
FY25 cash from operations ₹62.0 Cr:
101% of FY25 net profit of ₹61.2 Cr.
Borrowings ₹364 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹292 ₹362
+23.8% above Net profit ₹9.3 ₹15.0
+61.0% above
M Cap ₹1,825 Cr
P/E 182.7
PEG 7.94
Profit +562% above its own trend 29% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+21.9% -8.9%
189 207 155 Operating profit
+73.6% +3.9%
5.1 4.9 2.9 OPM %
+80 bps +33 bps
2.7% 2.4% 1.9% Other income
+23.1% +115.0%
0.2 0.1 0.1 Net profit?
+731.1% +8.5%
1.9 1.7 0.2 PAT margin %
+85 bps +16 bps
1.0% 0.8% 0.1% EPS (₹)
+721.4% +8.5%
1.15 1.06 0.14
Quality of profit
Pre-tax profit ₹2.4 Cr: core business ₹1.7 Cr, other income ₹0.2 Cr, exceptional & other items ₹0.5 Cr.
Core profit YoY: —
· reported profit +731.1%
Cash & debt
FY25 cash from operations ₹9.0 Cr:
118% of FY25 net profit of ₹7.6 Cr.
Borrowings ₹46.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹162 ₹189
+16.6% above Net profit ₹0.3 ₹1.9
+561.9% above
M Cap ₹1,808 Cr
P/E 67.8
PEG —
Profit +225% above its own trend Operating margin expanded 118 bps YoY 87% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -38%)
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
-7.3% +1.0%
614 608 662 Operating profit
+36.0% +41.0%
22.8 16.2 16.8 OPM %
+118 bps +106 bps
3.7% 2.7% 2.5% Other income
+35.4% -16.7%
7.0 8.4 5.2 Net profit?
+62.4% +100.7%
5.9 3.0 3.7 PAT margin %
+42 bps +48 bps
1.0% 0.5% 0.6% EPS (₹)
+59.4% +96.2%
0.51 0.26 0.32
Quality of profit
Pre-tax profit ₹8.0 Cr: core business ₹1.0 Cr, other income ₹7.0 Cr.
Core profit YoY: -37.9%
· reported profit +62.4%
Cash & debt
FY25 cash from operations ₹69.0 Cr:
428% of FY25 net profit of ₹16.1 Cr.
Borrowings ₹140 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,085 ₹614
-43.4% below Net profit ₹1.8 ₹5.9
+224.8% above
M Cap ₹1,778 Cr
P/E 56.6
PEG 2.18
Profit -15% below its own trend Operating margin contracted 181 bps YoY 25% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -26%) Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+6.8% +8.6%
76.9 70.9 72.0 Operating profit
+2.1% +1.7%
30.0 29.5 29.4 OPM %
-181 bps -264 bps
39.0% 41.6% 40.8% Other income
+285.5% +201.6%
3.8 1.3 1.0 Net profit?
+8.7% +72.8%
12.1 7.0 11.1 PAT margin %
+26 bps +582 bps
15.7% 9.8% 15.4% EPS (₹)
+3.2% +65.1%
2.89 1.75 2.80
Quality of profit
Pre-tax profit ₹15.1 Cr: core business ₹11.3 Cr, other income ₹3.8 Cr.
Core profit YoY: -26.1%
· reported profit +8.7%
Cash & debt
FY25 cash from operations −₹53.0 Cr:
-100% of FY25 net profit of ₹53.0 Cr.
Borrowings ₹122 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹94.4 ₹76.9
-18.5% below Net profit ₹14.2 ₹12.1
-15.4% below
M Cap ₹1,777 Cr
P/E 36.1
PEG 3.61
Profit +130% above its own trend Operating margin expanded 141 bps YoY 34% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +113%)
₹ Cr YoY QoQ
Sep 2025 Jun 2025 Sep 2024
Sales
+13.5% +19.1%
120 101 106 Operating profit
+22.0% +28.4%
24.4 19.0 20.0 OPM %
+141 bps +147 bps
20.3% 18.8% 18.9% Other income
+38.7% -30.6%
5.5 8.0 4.0 Net profit?
+72.1% +50.6%
12.1 8.0 7.0 PAT margin %
+341 bps +210 bps
10.0% 7.9% 6.6% EPS (₹)
+72.7% +49.5%
10.48 7.01 6.07
Quality of profit
Pre-tax profit ₹16.2 Cr: core business ₹10.6 Cr, other income ₹5.5 Cr.
Core profit YoY: +112.6%
· reported profit +72.1%
Cash & debt
FY25 cash from operations ₹57.0 Cr:
236% of FY25 net profit of ₹24.2 Cr.
Borrowings ₹314 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹102 ₹120
+18.0% above Net profit ₹5.2 ₹12.1
+129.8% 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, 17:42 IST
