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.
| ₹ Cr | YoY | QoQ | Sep 2025 | Jun 2025 | Sep 2024 |
|---|---|---|---|---|---|
| Total income | +23.5% | -70.0% | 21.0 | 70.0 | 17.0 |
| Net profit | +44.4% | -74.5% | 13.0 | 51.0 | 9.0 |
| EPS (₹) | -22.4% | -74.6% | 3.36 | 13.25 | 4.33 |
| Trend | Actual | Gap | |
|---|---|---|---|
| Total income | ₹34.0 | ₹21.0 | -38.2% below |
| Net profit | ₹18.0 | ₹13.0 | -27.8% below |
| ₹ Cr | YoY | QoQ | Sep 2025 | Jun 2025 | Sep 2024 |
|---|---|---|---|---|---|
| Total income | +39.7% | +11.0% | 0.8 | 0.7 | 0.6 |
| Net interest income | +2.0% | +4.1% | 0.5 | 0.5 | 0.5 |
| Other income | — | — | 0.0 | 0.0 | 0.0 |
| Net profit | +9.1% | +26.3% | 0.2 | 0.2 | 0.2 |
| EPS (₹) | +9.5% | +27.8% | 0.23 | 0.18 | 0.21 |
| Trend | Actual | Gap | |
|---|---|---|---|
| NII | ₹0.5 | ₹0.5 | +9.9% above |
| Net profit | ₹0.2 | ₹0.2 | +43.8% above |
| ₹ Cr | YoY | QoQ | Sep 2025 | Jun 2025 | Sep 2024 |
|---|---|---|---|---|---|
| Total income | — | — | 23.6 | 0.6 | 0.4 |
| Net profit? | — | from loss | 5.2 | -0.7 | 0.2 |
| EPS (₹) | — | from loss | 3.84 | -0.44 | 0.25 |
| Trend | Actual | Gap | |
|---|---|---|---|
| Total income | ₹0.5 | ₹23.6 | +999.0% above |
| Net profit | ₹0.2 | ₹5.2 | +999.0% above |
| ₹ Cr | YoY | QoQ | Sep 2025 | Jun 2025 | Sep 2024 |
|---|---|---|---|---|---|
| Total income | +311.1% | +79.6% | 11.1 | 6.2 | 2.7 |
| Net interest income | +532.6% | +124.2% | 8.2 | 3.6 | 1.3 |
| Other income | — | — | 0.0 | 0.0 | 0.0 |
| Net profit | loss narrowed | loss narrowed | -1.6 | -4.8 | -5.6 |
| EPS (₹) | loss narrowed | loss narrowed | -0.30 | -0.89 | -1.02 |
| Trend | Actual | Gap | |
|---|---|---|---|
| NII | ₹2.6 | ₹8.2 | +216.3% above |
| ₹ Cr | YoY | vs prev. half | Sep 2025 | Mar 2025 | Sep 2024 |
|---|---|---|---|---|---|
| Total income | +5.6% | -6.3% | 6.4 | 6.8 | 6.1 |
| Net profit | +1.9% | +5.6% | 2.6 | 2.5 | 2.6 |
| EPS (₹) | +1.8% | +5.6% | 2.26 | 2.14 | 2.22 |
| Trend | Actual | Gap | |
|---|---|---|---|
| Total income | ₹6.4 | ₹6.4 | +0.7% in line |
| Net profit | ₹2.7 | ₹2.6 | -0.9% in line |
| ₹ Cr | YoY | QoQ | Sep 2025 | Jun 2025 | Sep 2024 |
|---|---|---|---|---|---|
| Total income | +25.0% | -2.6% | 17.0 | 17.4 | 13.6 |
| Net interest income | +36.2% | -3.4% | 10.9 | 11.3 | 8.0 |
| Other income | — | +0.0% | 0.0 | 0.0 | 0.0 |
| Net profit | -5.0% | -25.6% | 4.0 | 5.3 | 4.2 |
| EPS (₹) | — | -25.2% | 0.92 | 1.23 | 1.32 |
No EPS growth against Sep 2024: 1:1 bonus in Aug 2025.
| ₹ Cr | YoY | QoQ | Sep 2025 | Jun 2025 | Sep 2024 |
|---|---|---|---|---|---|
| Sales | -0.6% | +10.2% | 44.5 | 40.3 | 44.7 |
| Operating profit | -85.8% | -75.3% | 0.4 | 1.5 | 2.5 |
| OPM % | -487 bps | -281 bps | 0.8% | 3.6% | 5.7% |
| Other income | -42.1% | -80.6% | 1.6 | 8.4 | 2.8 |
| Net profit? | to loss | to loss | -0.6 | 8.2 | 2.6 |
| PAT margin % | -712 bps | -2164 bps | -1.3% | 20.4% | 5.9% |
| EPS (₹) | to loss | to loss | -0.07 | 1.07 | 0.34 |
Pre-tax profit −₹0.0 Cr: core business −₹1.7 Cr, other income ₹1.6 Cr.
Core profit YoY: to loss
FY25 cash from operations −₹18.0 Cr: -365% of FY25 net profit of ₹4.9 Cr.
Borrowings ₹51.0 Cr at Mar 2025.
| Trend | Actual | Gap | |
|---|---|---|---|
| Sales | ₹48.8 | ₹44.5 | -8.9% below |
| Net profit | ₹5.2 | −₹0.6 | -110.7% below |
| ₹ Cr | YoY | QoQ | Sep 2025 | Jun 2025 | Sep 2024 |
|---|---|---|---|---|---|
| Sales | +60.7% | +18.5% | 168 | 141 | 104 |
| Operating profit | from loss | from loss | 0.9 | -10.5 | -5.3 |
| OPM % | +560 bps | +796 bps | 0.5% | -7.4% | -5.1% |
| Other income | -9.8% | -12.9% | 6.1 | 7.0 | 6.7 |
| Net profit | from loss | from loss | 2.1 | -8.4 | -3.6 |
| PAT margin % | +476 bps | +723 bps | 1.3% | -6.0% | -3.5% |
| EPS (₹) | from loss | from loss | 0.25 | -0.99 | -0.43 |
Pre-tax profit ₹1.1 Cr: core business −₹5.0 Cr, other income ₹6.1 Cr.
Core profit YoY: loss narrowed
FY25 cash from operations −₹57.0 Cr.
Borrowings ₹86.0 Cr at Mar 2025.
| Trend | Actual | Gap | |
|---|---|---|---|
| Sales | ₹76.9 | ₹168 | +118.1% above |
| ₹ Cr | YoY | QoQ | Sep 2025 | Jun 2025 | Sep 2024 |
|---|---|---|---|---|---|
| Sales | +44.9% | +75.8% | 33.8 | 19.2 | 23.3 |
| Operating profit | loss widened | loss narrowed | -0.6 | -0.7 | -0.4 |
| OPM % | +4 bps | +186 bps | -1.6% | -3.5% | -1.7% |
| Other income | to loss | to loss | -0.0 | 2.4 | 2.6 |
| Net profit | to loss | to loss | -0.5 | 1.2 | 1.4 |
| PAT margin % | -734 bps | -791 bps | -1.5% | 6.4% | 5.8% |
| EPS (₹) | to loss | to loss | -0.09 | 0.22 | 0.24 |
Pre-tax profit −₹0.7 Cr: core business −₹0.6 Cr, other income −₹0.0 Cr.
Core profit YoY: loss widened
FY25 cash from operations −₹1.9 Cr: -390% of FY25 net profit of ₹0.5 Cr.
Borrowings ₹1.0 Cr at Mar 2025.
| Trend | Actual | Gap | |
|---|---|---|---|
| Sales | ₹25.1 | ₹33.8 | +34.4% above |
| Net profit | ₹2.7 | −₹0.5 | -118.8% below |
| ₹ Cr | YoY | QoQ | Sep 2025 | Jun 2025 | Sep 2024 |
|---|---|---|---|---|---|
| Sales | +5.5% | +12.5% | 6.7 | 5.9 | 6.3 |
| Operating profit | +91.6% | +32.3% | 2.0 | 1.6 | 1.1 |
| OPM % | +1380 bps | +460 bps | 30.7% | 26.1% | 16.9% |
| Other income | to loss | to loss | -0.1 | 0.1 | 0.0 |
| Net profit | — | -22.6% | 1.1 | 1.4 | 0.0 |
| PAT margin % | +1573 bps | -721 bps | 15.9% | 23.1% | 0.2% |
| EPS (₹) | — | -22.5% | 0.31 | 0.40 | 0.00 |
Pre-tax profit ₹1.1 Cr: core business ₹1.2 Cr, other income −₹0.1 Cr.
Core profit YoY: from loss
FY25 cash from operations ₹16.8 Cr: 1651% of FY25 net profit of ₹1.0 Cr.
Borrowings ₹118 Cr at Mar 2025.
| Trend | Actual | Gap | |
|---|---|---|---|
| Sales | ₹8.1 | ₹6.7 | -17.5% below |
| ₹ Cr | YoY | QoQ | Sep 2025 | Jun 2025 | Sep 2024 |
|---|---|---|---|---|---|
| Sales | -19.3% | -8.6% | 13.9 | 15.3 | 17.3 |
| Operating profit | -1.7% | -22.5% | 1.7 | 2.2 | 1.8 |
| OPM % | +220 bps | -222 bps | 12.3% | 14.5% | 10.1% |
| Other income | -75.0% | -80.0% | 0.0 | 0.1 | 0.0 |
| Net profit | -5.8% | -26.9% | 1.5 | 2.0 | 1.6 |
| PAT margin % | +151 bps | -263 bps | 10.5% | 13.2% | 9.0% |
| EPS (₹) | -3.4% | -26.3% | 0.28 | 0.38 | 0.29 |
Pre-tax profit ₹1.5 Cr: core business ₹1.5 Cr, other income ₹0.0 Cr.
Core profit YoY: -3.9% · reported profit -5.8%
FY25 cash from operations ₹5.8 Cr: 79% of FY25 net profit of ₹7.4 Cr.
Borrowings ₹42.7 Cr at Mar 2025.
| Trend | Actual | Gap | |
|---|---|---|---|
| Sales | ₹17.0 | ₹13.9 | -17.7% below |
| Net profit | ₹2.0 | ₹1.5 | -28.2% below |
| ₹ Cr | YoY | QoQ | Sep 2025 | Jun 2025 | Sep 2024 |
|---|---|---|---|---|---|
| Sales | +0.0% | +33.3% | 0.1 | 0.1 | 0.1 |
| Operating profit | loss widened | loss narrowed | -0.3 | -0.4 | -0.2 |
| Other income | +0.0% | -10.5% | 0.2 | 0.2 | 0.2 |
| Net profit | loss widened | loss narrowed | -0.2 | -0.3 | -0.1 |
| EPS (₹) | loss widened | loss narrowed | -0.14 | -0.17 | -0.07 |
Pre-tax profit −₹0.2 Cr: core business −₹0.4 Cr, other income ₹0.2 Cr.
Core profit YoY: loss widened
FY25 cash from operations −₹2.6 Cr: -54% of FY25 net profit of ₹4.8 Cr.
Borrowings ₹2.9 Cr at Mar 2025.
| Trend | Actual | Gap | |
|---|---|---|---|
| Sales | ₹0.1 | ₹0.1 | -4.3% in line |
| ₹ Cr | YoY | QoQ | Sep 2025 | Jun 2025 | Sep 2024 |
|---|---|---|---|---|---|
| Sales | +0.0% | -17.7% | 63.8 | 77.5 | 63.8 |
| Operating profit | loss narrowed | loss widened | -4.5 | -3.2 | -5.2 |
| OPM % | +107 bps | -297 bps | -7.1% | -4.1% | -8.1% |
| Other income | -5.8% | +15.3% | 7.2 | 6.3 | 7.7 |
| Net profit | +19.9% | -17.5% | 1.8 | 2.1 | 1.5 |
| PAT margin % | +45 bps | +1 bps | 2.7% | 2.7% | 2.3% |
| EPS (₹) | +18.8% | -20.8% | 0.19 | 0.24 | 0.16 |
Pre-tax profit ₹1.7 Cr: core business −₹5.5 Cr, other income ₹7.2 Cr.
Core profit YoY: loss narrowed · reported profit +19.9%
FY25 cash from operations ₹8.0 Cr: 77% of FY25 net profit of ₹10.4 Cr.
Borrowings ₹110 Cr at Mar 2025.
| Trend | Actual | Gap | |
|---|---|---|---|
| Sales | ₹51.7 | ₹63.8 | +23.4% above |
| Net profit | ₹1.5 | ₹1.8 | +18.1% above |
| ₹ Cr | YoY | QoQ | Sep 2025 | Jun 2025 | Sep 2024 |
|---|---|---|---|---|---|
| Sales | +22.4% | +2.0% | 104 | 102 | 85.0 |
| Operating profit | +25.0% | +0.0% | 15.0 | 15.0 | 12.0 |
| OPM % | +31 bps | -28 bps | 14.4% | 14.7% | 14.1% |
| Other income | -50.0% | -25.0% | 3.0 | 4.0 | 6.0 |
| Net profit | +0.0% | -7.7% | 12.0 | 13.0 | 12.0 |
| PAT margin % | -258 bps | -121 bps | 11.5% | 12.7% | 14.1% |
| EPS (₹) | -1.3% | -7.0% | 84.10 | 90.43 | 85.20 |
Pre-tax profit ₹16.0 Cr: core business ₹14.0 Cr, other income ₹3.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +27.3% · reported profit +0.0%
FY25 cash from operations ₹34.0 Cr: 63% of FY25 net profit of ₹54.0 Cr.
Borrowings ₹1.0 Cr at Mar 2025.
| Trend | Actual | Gap | |
|---|---|---|---|
| Sales | ₹95.2 | ₹104 | +9.2% above |
| Net profit | ₹16.8 | ₹12.0 | -28.8% below |
| ₹ Cr | YoY | QoQ | Sep 2025 | Jun 2025 | Sep 2024 |
|---|---|---|---|---|---|
| Sales | -24.7% | -46.5% | 1.2 | 2.2 | 1.5 |
| Operating profit | -28.2% | -50.0% | 1.0 | 2.0 | 1.4 |
| OPM % | -428 bps | -608 bps | 87.9% | 94.0% | 92.2% |
| Other income | — | -100.0% | 0.0 | 0.0 | 0.0 |
| Net profit | -28.3% | -50.6% | 0.8 | 1.5 | 1.1 |
| PAT margin % | -331 bps | -545 bps | 65.5% | 71.0% | 68.8% |
| EPS (₹) | -28.3% | -50.6% | 0.76 | 1.54 | 1.06 |
Pre-tax profit ₹1.0 Cr: core business ₹1.0 Cr, other income ₹0.0 Cr.
Core profit YoY: -28.2% · reported profit -28.3%
FY25 cash from operations ₹38.0 Cr: 194% of FY25 net profit of ₹19.6 Cr.
Borrowings nil at Mar 2025.
| Trend | Actual | Gap | |
|---|---|---|---|
| Sales | ₹1.6 | ₹1.2 | -28.4% below |
| Net profit | ₹1.1 | ₹0.8 | -33.4% below |
| ₹ Cr | YoY | QoQ | Sep 2025 | Jun 2025 | Sep 2024 |
|---|---|---|---|---|---|
| Sales | +17.9% | +3.3% | 217 | 210 | 184 |
| Operating profit | +42.4% | +17.5% | 47.0 | 40.0 | 33.0 |
| OPM % | +372 bps | +261 bps | 21.7% | 19.0% | 17.9% |
| Other income | -41.7% | -61.1% | 7.0 | 18.0 | 12.0 |
| Net profit | +16.1% | -7.7% | 36.0 | 39.0 | 31.0 |
| PAT margin % | -26 bps | -198 bps | 16.6% | 18.6% | 16.8% |
| EPS (₹) | +16.7% | -7.7% | 45.74 | 49.56 | 39.19 |
Pre-tax profit ₹49.0 Cr: core business ₹41.0 Cr, other income ₹7.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +41.4% · reported profit +16.1%
Borrowings nil at Dec 2024.
| Trend | Actual | Gap | |
|---|---|---|---|
| Sales | ₹208 | ₹217 | +4.3% in line |
| Net profit | ₹27.6 | ₹36.0 | +30.7% above |
| ₹ Cr | YoY | QoQ | Sep 2025 | Jun 2025 | Sep 2024 |
|---|---|---|---|---|---|
| Sales | +2.8% | -46.6% | 31.0 | 58.0 | 30.1 |
| Operating profit | to loss | to loss | -1.3 | 9.6 | 15.4 |
| OPM % | -5532 bps | -2084 bps | -4.3% | 16.5% | 51.0% |
| Other income | — | — | 0.2 | 0.0 | 0.0 |
| Net profit | to loss | to loss | -0.9 | 7.0 | 11.3 |
| PAT margin % | -4036 bps | -1498 bps | -2.9% | 12.1% | 37.5% |
| EPS (₹) | to loss | to loss | -3.00 | 23.33 | 37.60 |
Pre-tax profit −₹1.2 Cr: core business −₹1.4 Cr, other income ₹0.2 Cr.
Core profit YoY: to loss
FY25 cash from operations −₹8.0 Cr: -102% of FY25 net profit of ₹7.8 Cr.
Borrowings ₹1.0 Cr at Mar 2025.
| Trend | Actual | Gap | |
|---|---|---|---|
| Sales | ₹36.9 | ₹31.0 | -16.1% below |
| Net profit | ₹22.6 | −₹0.9 | -104.0% below |
| ₹ Cr | YoY | QoQ | Sep 2025 | Jun 2025 | Sep 2024 |
|---|---|---|---|---|---|
| Sales | +27.5% | +18.1% | 97.0 | 82.1 | 76.0 |
| Operating profit | from loss | +486.5% | 11.3 | 1.9 | -8.6 |
| OPM % | +2303 bps | +932 bps | 11.7% | 2.4% | -11.4% |
| Other income | +369.2% | -5.1% | 2.4 | 2.6 | 0.5 |
| Net profit | from loss | +418.6% | 8.9 | 1.7 | -7.5 |
| PAT margin % | +1906 bps | +710 bps | 9.2% | 2.1% | -9.9% |
| EPS (₹) | from loss | +419.0% | 18.06 | 3.48 | -15.19 |
Pre-tax profit ₹11.9 Cr: core business ₹9.5 Cr, other income ₹2.4 Cr.
Core profit YoY: from loss
Borrowings ₹5.0 Cr at Dec 2024.
| Trend | Actual | Gap | |
|---|---|---|---|
| Sales | ₹38.0 | ₹97.0 | +155.1% above |
| ₹ Cr | YoY | QoQ | Sep 2025 | Jun 2025 | Sep 2024 |
|---|---|---|---|---|---|
| Sales | +0.4% | +7.4% | 69.4 | 64.6 | 69.1 |
| Operating profit | +52.7% | +28.2% | 4.2 | 3.3 | 2.8 |
| OPM % | +209 bps | +99 bps | 6.1% | 5.1% | 4.0% |
| Other income | +0.4% | +0.8% | 2.6 | 2.6 | 2.6 |
| Net profit? | -4.3% | -4.8% | 3.8 | 4.0 | 4.0 |
| PAT margin % | -27 bps | -70 bps | 5.4% | 6.1% | 5.7% |
| EPS (₹) | +30.6% | +29.8% | 4.18 | 3.22 | 3.20 |
Pre-tax profit ₹4.5 Cr: core business ₹1.9 Cr, other income ₹2.6 Cr.
Core profit YoY: -21.9% · reported profit -4.3%
FY25 cash from operations ₹14.0 Cr: 148% of FY25 net profit of ₹9.4 Cr.
Borrowings ₹4.0 Cr at Mar 2025.
| Trend | Actual | Gap | |
|---|---|---|---|
| Sales | ₹60.7 | ₹69.4 | +14.3% above |
| Net profit | ₹2.2 | ₹3.8 | +71.9% above |
| ₹ Cr | YoY | QoQ | Sep 2025 | Jun 2025 | Sep 2024 |
|---|---|---|---|---|---|
| Sales | -31.3% | +24.0% | 217 | 175 | 316 |
| Operating profit | -50.0% | — | 33.0 | 3.0 | 66.0 |
| OPM % | -568 bps | +1349 bps | 15.2% | 1.7% | 20.9% |
| Other income | +366.7% | +180.0% | 14.0 | 5.0 | 3.0 |
| Net profit | -26.7% | — | 44.0 | 3.0 | 60.0 |
| PAT margin % | +129 bps | +1856 bps | 20.3% | 1.7% | 19.0% |
| EPS (₹) | -27.8% | — | 20.15 | 1.48 | 27.90 |
Pre-tax profit ₹40.0 Cr: core business ₹26.0 Cr, other income ₹14.0 Cr.
Core profit YoY: -55.2% · reported profit -26.7%
FY25 cash from operations ₹43.0 Cr: 226% of FY25 net profit of ₹19.0 Cr.
Borrowings ₹77.0 Cr at Mar 2025.
| Trend | Actual | Gap | |
|---|---|---|---|
| Sales | ₹317 | ₹217 | -31.5% below |
| Net profit | ₹62.0 | ₹44.0 | -29.1% below |
| ₹ Cr | YoY | QoQ | Sep 2025 | Jun 2025 | Sep 2024 |
|---|---|---|---|---|---|
| Sales | -4.2% | +8.2% | 41.8 | 38.6 | 43.6 |
| Operating profit | loss widened | loss widened | -0.8 | -0.8 | -0.5 |
| OPM % | -86 bps | +9 bps | -2.0% | -2.1% | -1.2% |
| Other income | -37.9% | -4.5% | 0.6 | 0.7 | 1.0 |
| Net profit | loss narrowed | loss narrowed | -0.9 | -2.0 | -1.4 |
| PAT margin % | +101 bps | +310 bps | -2.1% | -5.2% | -3.1% |
| EPS (₹) | loss narrowed | loss narrowed | -0.51 | -1.15 | -0.78 |
Pre-tax profit −₹2.2 Cr: core business −₹2.8 Cr, other income ₹0.6 Cr.
Core profit YoY: loss widened
FY25 cash from operations ₹5.0 Cr.
Borrowings ₹39.0 Cr at Mar 2025.
| Trend | Actual | Gap | |
|---|---|---|---|
| Sales | ₹38.7 | ₹41.8 | +7.8% above |
| ₹ Cr | YoY | QoQ | Sep 2025 | Jun 2025 | Sep 2024 |
|---|---|---|---|---|---|
| Sales | — | — | 0.0 | 0.0 | 0.0 |
| Operating profit | — | loss narrowed | 0.0 | -1.0 | 0.0 |
| Other income | — | — | 0.0 | 0.0 | 0.0 |
| Net profit | — | — | -2.0 | -2.0 | -2.0 |
| EPS (₹) | loss narrowed | loss narrowed | -1.75 | -2.11 | -2.25 |
Pre-tax profit −₹2.0 Cr: core business −₹1.0 Cr, other income ₹0.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: loss narrowed
FY25 cash from operations −₹3.0 Cr.
Borrowings ₹72.0 Cr at Mar 2025.
| ₹ Cr | YoY | QoQ | Sep 2025 | Jun 2025 | Sep 2024 |
|---|---|---|---|---|---|
| Sales | -100.0% | -100.0% | 0.0 | 0.3 | 0.3 |
| Operating profit | loss narrowed | loss narrowed | -0.3 | -0.8 | -0.4 |
| Other income | — | — | 0.0 | 0.0 | 0.0 |
| Net profit | loss widened | loss widened | -2.9 | -2.7 | -2.6 |
| EPS (₹) | loss widened | loss widened | -0.39 | -0.36 | -0.35 |
Pre-tax profit −₹2.9 Cr: core business −₹2.9 Cr, other income ₹0.0 Cr.
Core profit YoY: loss widened
FY25 cash from operations −₹2.0 Cr.
Borrowings ₹176 Cr at Mar 2025.
| ₹ Cr | YoY | QoQ | Sep 2025 | Jun 2025 | Sep 2024 |
|---|---|---|---|---|---|
| Sales | -2.6% | +4.2% | 59.4 | 57.0 | 60.9 |
| Operating profit | -7.1% | +0.6% | 9.4 | 9.3 | 10.1 |
| OPM % | -78 bps | -55 bps | 15.8% | 16.4% | 16.6% |
| Other income | -9.9% | -27.1% | 1.4 | 2.0 | 1.6 |
| Net profit | -14.0% | -7.0% | 6.4 | 6.9 | 7.4 |
| PAT margin % | -143 bps | -129 bps | 10.8% | 12.1% | 12.2% |
| EPS (₹) | -14.0% | -7.0% | 7.99 | 8.59 | 9.29 |
Pre-tax profit ₹8.6 Cr: core business ₹7.2 Cr, other income ₹1.4 Cr.
Core profit YoY: -13.6% · reported profit -14.0%
FY25 cash from operations ₹38.0 Cr: 140% of FY25 net profit of ₹27.1 Cr.
Borrowings ₹1.0 Cr at Mar 2025.
| Trend | Actual | Gap | |
|---|---|---|---|
| Sales | ₹64.6 | ₹59.4 | -8.0% below |
| Net profit | ₹8.7 | ₹6.4 | -26.3% below |
| ₹ Cr | YoY | QoQ | Sep 2025 | Jun 2025 | Sep 2024 |
|---|---|---|---|---|---|
| Sales | +20.0% | +23.2% | 51.6 | 41.9 | 43.0 |
| Operating profit | +43.3% | +2.2% | 4.2 | 4.1 | 2.9 |
| OPM % | +131 bps | -166 bps | 8.1% | 9.7% | 6.8% |
| Other income | to loss | to loss | -0.1 | 0.1 | 0.1 |
| Net profit | +57.1% | -5.4% | 2.1 | 2.2 | 1.3 |
| PAT margin % | +96 bps | -123 bps | 4.0% | 5.3% | 3.1% |
| EPS (₹) | +56.6% | -5.5% | 3.07 | 3.25 | 1.96 |
Pre-tax profit ₹2.9 Cr: core business ₹3.0 Cr, other income −₹0.1 Cr.
Core profit YoY: +77.1% · reported profit +57.1%
FY25 cash from operations ₹8.0 Cr: 107% of FY25 net profit of ₹7.5 Cr.
Borrowings ₹22.0 Cr at Mar 2025.
| Trend | Actual | Gap | |
|---|---|---|---|
| Sales | ₹44.2 | ₹51.6 | +16.8% above |
| Net profit | ₹1.1 | ₹2.1 | +89.5% above |
| ₹ Cr | YoY | QoQ | Sep 2025 | Jun 2025 | Sep 2024 |
|---|---|---|---|---|---|
| Sales | — | — | 0.0 | 0.0 | 0.0 |
| Operating profit | — | loss widened | -0.3 | -0.1 | 0.0 |
| Other income | — | — | 0.0 | 0.0 | 0.0 |
| Net profit | loss widened | loss widened | -0.3 | -0.1 | -0.0 |
| EPS (₹) | loss widened | loss widened | -0.22 | -0.04 | -0.01 |
Pre-tax profit −₹0.3 Cr: core business −₹0.4 Cr, other income ₹0.0 Cr.
FY25 cash from operations −₹0.4 Cr.
Borrowings ₹0.3 Cr at Mar 2025.
| ₹ Cr | YoY | QoQ | Sep 2025 | Jun 2025 | Sep 2024 |
|---|---|---|---|---|---|
| Sales | -46.5% | -41.6% | 8.0 | 13.8 | 15.0 |
| Operating profit | from loss | from loss | 12.6 | -1.7 | -12.6 |
| Other income | — | -92.5% | 0.3 | 4.4 | 0.0 |
| Net profit? | from loss | from loss | 1.8 | -3.2 | -12.2 |
| PAT margin % | +10409 bps | +4624 bps | 22.6% | -23.6% | -81.4% |
| EPS (₹) | from loss | from loss | 0.71 | -1.27 | -4.72 |
Pre-tax profit ₹2.5 Cr: core business ₹2.1 Cr, other income ₹0.3 Cr.
Core profit YoY: from loss
FY25 cash from operations −₹1.8 Cr.
Borrowings ₹245 Cr at Mar 2025.
| Trend | Actual | Gap | |
|---|---|---|---|
| Sales | ₹7.5 | ₹8.0 | +6.9% above |
| ₹ Cr | YoY | QoQ | Sep 2025 | Jun 2025 | Sep 2024 |
|---|---|---|---|---|---|
| Sales | +10.8% | +11.2% | 39.3 | 35.3 | 35.5 |
| Operating profit | +87.6% | from loss | 1.7 | -2.0 | 0.9 |
| OPM % | +174 bps | +999 bps | 4.2% | -5.7% | 2.5% |
| Other income | -67.2% | -77.5% | 1.3 | 5.6 | 3.8 |
| Net profit? | to loss | to loss | -0.2 | 0.5 | 2.1 |
| PAT margin % | -647 bps | -190 bps | -0.4% | 1.5% | 6.0% |
| EPS (₹) | to loss | to loss | -0.03 | 0.27 | 0.97 |
Pre-tax profit −₹0.2 Cr: core business −₹1.4 Cr, other income ₹1.3 Cr.
Core profit YoY: loss narrowed
FY25 cash from operations −₹22.0 Cr: -353% of FY25 net profit of ₹6.2 Cr.
Borrowings ₹61.0 Cr at Mar 2025.
| Trend | Actual | Gap | |
|---|---|---|---|
| Sales | ₹32.6 | ₹39.3 | +20.4% above |
| Net profit | ₹2.3 | −₹0.2 | -107.4% below |
| ₹ Cr | YoY | QoQ | Sep 2025 | Jun 2025 | Sep 2024 |
|---|---|---|---|---|---|
| Sales | — | — | 0.0 | 0.0 | 0.0 |
| Operating profit | loss narrowed | loss narrowed | -0.1 | -0.1 | -0.1 |
| Other income | -60.6% | -38.1% | 0.1 | 0.2 | 0.3 |
| Net profit | -70.8% | -46.2% | 0.1 | 0.1 | 0.2 |
| EPS (₹) | -71.2% | -46.4% | 0.15 | 0.28 | 0.52 |
Pre-tax profit ₹0.1 Cr: core business −₹0.1 Cr, other income ₹0.1 Cr.
Core profit YoY: loss narrowed · reported profit -70.8%
FY25 cash from operations −₹0.1 Cr.
Borrowings ₹0.0 Cr at Mar 2025.
| ₹ Cr | YoY | QoQ | Sep 2025 | Jun 2025 | Sep 2024 |
|---|---|---|---|---|---|
| Sales | +3.5% | -16.9% | 1,030 | 1,240 | 995 |
| Operating profit | +38.9% | -43.2% | 25.0 | 44.0 | 18.0 |
| OPM % | +62 bps | -112 bps | 2.4% | 3.5% | 1.8% |
| Other income | +37.5% | +120.0% | 11.0 | 5.0 | 8.0 |
| Net profit | +10.0% | -52.2% | 22.0 | 46.0 | 20.0 |
| PAT margin % | +13 bps | -157 bps | 2.1% | 3.7% | 2.0% |
| EPS (₹) | +10.8% | -51.8% | 3.08 | 6.39 | 2.78 |
Pre-tax profit ₹29.0 Cr: core business ₹18.0 Cr, other income ₹11.0 Cr.
Core profit YoY: +63.6% · reported profit +10.0%
FY25 cash from operations −₹84.0 Cr: -86% of FY25 net profit of ₹98.0 Cr.
Borrowings ₹70.0 Cr at Mar 2025.
| Trend | Actual | Gap | |
|---|---|---|---|
| Sales | ₹1,990 | ₹1,030 | -48.2% below |
| Net profit | ₹24.2 | ₹22.0 | -9.2% in line |
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, the year's cash-flow statement with the March results and the half-year's (April to September) with the September results.
Management guidance. When a company files the transcript of its earnings call, we read what its management said to expect: revenue or profit growth, margins, capex and the like, for this financial year or part of it. A figure is kept only when the sentence that states it is found in the transcript, and you can read it under "What management said". Growth and margins are then set beside the actual so far: the year-to-date quarters against the same quarters a year earlier (so the first half is measured against a full-year figure). Within 1 percentage point of the range for growth, or 0.5 for margins, is "on track"; above it "ahead", below it "behind". A new figure for the same period is marked raised or cut against the one before. This is what management said, not a forecast of ours.
Working capital. Inventory, trade receivables and trade payables from the same balance sheets, each also as days of sales (the amount against the twelve months' sales to that date, times 365). Receivables or inventory that grow 25 points or more faster than sales between two balance sheets (and by at least 20%) are flagged: money tied up in customers and stock is profit not yet in cash. These lines are read from filings since the September 2026 results, so comparisons with an earlier balance sheet start with the March 2027 results for most companies.
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.
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