Home › Quarterly results › Q3 FY26
Q3 FY26 quarterly results (October-December 2025)
4,316 companies have declared Q3 FY26 results so far, the latest on 15 Sep 2026.
Across the 3,727 non-financial companies with a year-ago quarter to compare, sales grew +15.1% and net profit +14.8% year on year, and the combined operating margin narrowed 25 bps to 14.1%.
For the 146 banks and lenders, net interest income grew +8.0% and net profit +10.5%.
56% of companies grew net profit; 416 turned a loss into a profit; 37% beat their own profit trend and 48% fell short of it.
4316 declared
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Sales growth
+15.1%
YoY, 3727 companies combined; median +8.3%
Net profit growth
+14.8%
YoY combined; median +8.9%
Operating margin
14.1%
-25 bps YoY
Grew profit
56%
416 turnarounds, 346 into loss
Vs own profit trend
37% / 48%
above / below, 15% in line
Banks: NII growth
+8.0%
146 lenders; profit +10.5%
Price since results
-9.5%
median; 0% of 1 stocks up
Other-income heavy
1051
25%+ of pre-tax profit from other income & one-offs
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Results by sector
1051 matching results 1051
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Operating margin contracted 392 bps YoY 72% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -83%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+1.0% +11.9%
11.3 10.1 11.2 Operating profit
-20.3% -4.8%
1.7 1.7 2.1 OPM %
-392 bps -259 bps
14.7% 17.3% 18.6% Other income
+2.1% -7.7%
0.2 0.3 0.2 Net profit?
-33.9% from loss 0.2 -0.4 0.3 PAT margin %
-101 bps +606 bps
1.9% -4.1% 2.9% EPS (₹)
-33.3% from loss 0.02 -0.02 0.03
Quality of profit
Pre-tax profit ₹0.3 Cr: core business ₹0.1 Cr, other income ₹0.2 Cr.
Core profit YoY: -83.4%
· reported profit -33.9%
Cash & debt
FY25 cash from operations ₹20.9 Cr.
Borrowings ₹11.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹10.9 ₹11.3
+3.4% in line
M Cap ₹106 Cr
P/E 26.5
PEG —
Profit -72% below its own trend Operating margin contracted 236 bps YoY All of pre-tax profit came from other income or one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-5.1% -4.5%
184 192 194 Operating profit
-41.4% -30.2%
7.0 10.0 11.9 OPM %
-236 bps -140 bps
3.8% 5.2% 6.2% Other income
+399.2% +165.3%
5.9 2.2 1.2 Net profit
-43.5% +67.7%
0.5 0.3 0.9 PAT margin %
-19 bps +12 bps
0.3% 0.2% 0.5% EPS (₹)
-42.9% +75.0%
0.28 0.16 0.49
Quality of profit
Pre-tax profit ₹0.7 Cr: core business −₹5.2 Cr, other income ₹5.9 Cr.
Core profit YoY: to loss
· reported profit -43.5%
Cash & debt
FY25 cash from operations ₹8.0 Cr:
220% of FY25 net profit of ₹3.6 Cr.
Borrowings ₹287 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹201 ₹184
-8.9% below Net profit ₹1.8 ₹0.5
-71.7% below
M Cap ₹104 Cr
P/E 23.3
PEG —
Profit +32% above its own trend Operating margin expanded 146 bps YoY 49% 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
Dec 2025 Sep 2025 Dec 2024
Sales
-11.7% -26.3%
24.6 33.5 27.9 Operating profit
+14.7% +12.2%
1.6 1.4 1.4 OPM %
+146 bps +217 bps
6.3% 4.2% 4.9% Other income
-16.8% +6.0%
0.9 0.8 1.1 Net profit
-9.7% +10.2%
1.3 1.2 1.4 PAT margin %
+11 bps +175 bps
5.3% 3.5% 5.2% EPS (₹)
-23.1% +11.1%
0.10 0.09 0.13
Quality of profit
Pre-tax profit ₹1.8 Cr: core business ₹0.9 Cr, other income ₹0.9 Cr.
Core profit YoY: +7.0%
· reported profit -9.7%
Cash & debt
FY25 cash from operations −₹18.0 Cr:
-2195% of FY25 net profit of ₹0.8 Cr.
Borrowings ₹12.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹32.3 ₹24.6
-23.7% below Net profit ₹1.0 ₹1.3
+32.3% above
M Cap ₹104 Cr
P/E 21.3
PEG —
27% of pre-tax profit came from other income and one-off items
₹ Cr QoQ
Dec 2025 Sep 2025
Sales
+31.5%
47.7 36.3 Operating profit
+28.0%
2.1 1.6 OPM %
-12 bps
4.4% 4.5% Other income
+188.2%
0.5 0.2 Net profit
+71.1%
1.3 0.8 PAT margin %
+63 bps
2.7% 2.1% EPS (₹)
+69.6%
0.95 0.56
Quality of profit
Pre-tax profit ₹1.8 Cr: core business ₹1.3 Cr, other income ₹0.5 Cr.
M Cap ₹102 Cr
P/E 32.2
PEG 0.48
Turnaround: profit against a loss a year ago Operating margin expanded 3796 bps YoY All of pre-tax profit came from other income or one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+26.3% +18.0%
10.5 8.9 8.3 Operating profit
from loss from loss 0.0 -1.3 -3.1 OPM %
+3796 bps +1432 bps
0.2% -14.1% -37.8% Other income
-48.6% from loss 0.5 -0.7 1.1 Net profit
from loss from loss 0.5 -3.8 -2.6 PAT margin %
+3690 bps +4773 bps
5.1% -42.6% -31.8% EPS (₹)
from loss from loss 0.36 -2.57 -1.79
Quality of profit
Pre-tax profit ₹0.4 Cr: core business −₹0.1 Cr, other income ₹0.5 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations ₹5.7 Cr:
466% of FY25 net profit of ₹1.2 Cr.
Borrowings ₹10.2 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹8.0 ₹10.5
+31.0% above
Turnaround: profit against a loss a year ago Operating margin expanded 1771 bps YoY 36% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-21.6% -13.3%
91.0 105 116 Operating profit
+27.3% +133.3%
42.0 18.0 33.0 OPM %
+1771 bps +2901 bps
46.2% 17.1% 28.4% Other income
+100.0% +166.7%
8.0 3.0 4.0 Net profit?
from loss from loss 30.0 -307 -277 PAT margin %
— —
33.0% — — EPS (₹)
from loss from loss 5.06 -52.68 -47.38
Quality of profit
Pre-tax profit ₹22.0 Cr: core business ₹14.0 Cr, other income ₹8.0 Cr.
Core profit YoY: from loss
Cash & debt
FY25 cash from operations ₹139 Cr.
Borrowings ₹16,278 Cr at Sep 2025, against ₹15,697 Cr at Mar 2025 (+4% ).
Against its own trend ?
Trend Actual Gap
Sales ₹105 ₹91.0
-13.0% below
M Cap ₹97.0 Cr
P/E 335.7
PEG 7.46
Operating margin contracted 333 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
Dec 2025 Sep 2025 Dec 2024
Sales
-23.7% -27.4%
14.2 19.5 18.6 Operating profit
to loss to loss -0.2 0.2 0.3 OPM %
-333 bps -258 bps
-1.6% 1.0% 1.8% Other income
-13.0% -27.5%
0.9 1.2 1.0 Net profit
-74.6% -79.8%
0.2 0.8 0.7 PAT margin %
-241 bps -311 bps
1.2% 4.3% 3.6% EPS (₹)
-74.2% -79.5%
0.32 1.56 1.24
Quality of profit
Pre-tax profit ₹0.3 Cr: core business −₹0.6 Cr, other income ₹0.9 Cr.
Core profit YoY: loss widened
· reported profit -74.6%
Cash & debt
FY25 cash from operations −₹3.0 Cr:
-177% of FY25 net profit of ₹1.7 Cr.
Borrowings ₹7.8 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹19.8 ₹14.2
-28.5% below
M Cap ₹89.0 Cr
P/E 11.8
PEG 0.07
Profit -35% below its own trend 32% of pre-tax profit came from other income and one-off items Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+19.8% +35.1%
113 83.8 94.5 Operating profit
-4.1% +43.7%
4.0 2.8 4.2 OPM %
-88 bps +21 bps
3.5% 3.3% 4.4% Other income
-7.4% +44.2%
0.8 0.5 0.8 Net profit?
-38.3% +24.1%
1.1 0.9 1.8 PAT margin %
-90 bps -8 bps
1.0% 1.0% 1.9% EPS (₹)
-39.5% +21.1%
0.23 0.19 0.38
Quality of profit
Pre-tax profit ₹2.3 Cr: core business ₹1.6 Cr, other income ₹0.8 Cr.
Core profit YoY: -16.1%
· reported profit -38.3%
Cash & debt
FY25 cash from operations −₹2.0 Cr:
-53% of FY25 net profit of ₹3.7 Cr.
Borrowings ₹65.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹92.4 ₹113
+22.5% above Net profit ₹1.7 ₹1.1
-34.8% below
M Cap ₹85.0 Cr
P/E 22.1
PEG —
Profit +999% above its own trend 83% 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
Dec 2025 Sep 2025 Dec 2024
Sales
+12.5% -1.4%
13.0 13.2 11.6 Operating profit
+16.9% +12.1%
1.9 1.7 1.7 OPM %
+55 bps +180 bps
14.9% 13.1% 14.3% Other income
+971.0% —
3.3 0.2 0.3 Net profit?
— +285.0%
3.1 0.8 0.0 PAT margin %
+2355 bps +1759 bps
23.6% 6.1% 0.1% EPS (₹)
— +200.0%
0.03 0.01 0.00
Quality of profit
Pre-tax profit ₹4.0 Cr: core business ₹0.7 Cr, other income ₹3.3 Cr.
Core profit YoY: +97.1%
Cash & debt
FY25 cash from operations −₹34.2 Cr:
-1685% of FY25 net profit of ₹2.0 Cr.
Borrowings ₹34.6 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹9.6 ₹13.0
+35.8% above Net profit ₹0.0 ₹3.1
+999.0% above
M Cap ₹84.0 Cr
P/E 15.2
PEG —
Profit +111% above its own trend Operating margin expanded 333 bps YoY 37% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-11.2% -17.7%
81.9 99.5 92.2 Operating profit
+19.3% +4.1%
10.7 10.3 9.0 OPM %
+333 bps +273 bps
13.1% 10.3% 9.7% Other income
-28.6% +11.1%
0.4 0.4 0.6 Net profit
+321.1% -51.5%
0.8 1.6 0.2 PAT margin %
+77 bps -68 bps
1.0% 1.7% 0.2% EPS (₹)
+324.0% -51.6%
1.06 2.19 0.25
Quality of profit
Pre-tax profit ₹1.1 Cr: core business ₹0.7 Cr, other income ₹0.4 Cr.
Core profit YoY: from loss
· reported profit +321.1%
Cash & debt
FY25 cash from operations ₹11.0 Cr:
272% of FY25 net profit of ₹4.0 Cr.
Borrowings ₹263 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹95.8 ₹81.9
-14.4% below Net profit ₹0.4 ₹0.8
+110.5% above
M Cap ₹83.0 Cr
P/E 6.3
PEG 0.14
Turnaround: profit against a loss a year ago Operating margin expanded 148 bps YoY All of pre-tax profit came from other income or one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-21.3% -60.1%
10.2 25.4 12.9 Operating profit
loss narrowed loss widened -2.2 -0.3 -3.0 OPM %
+148 bps -2075 bps
-21.8% -1.0% -23.3% Other income
— —
24.2 0.2 0.1 Net profit?
from loss from loss 21.6 -2.8 -2.7 EPS (₹)
from loss from loss 22.42 -0.66 -1.28
Quality of profit
Pre-tax profit ₹21.7 Cr: core business −₹2.5 Cr, other income ₹24.2 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations −₹5.0 Cr.
Borrowings ₹24.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹19.9 ₹10.2
-48.9% below
M Cap ₹83.0 Cr
P/E 40.4
PEG —
Profit +750% above its own trend Operating margin expanded 120 bps YoY 27% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-73.4% -13.1%
61.8 71.2 233 Operating profit
-43.5% +100.0%
1.4 0.7 2.5 OPM %
+120 bps +128 bps
2.3% 1.0% 1.1% Other income
-84.0% -58.0%
0.2 0.5 1.3 Net profit
+466.7% —
0.5 0.0 0.1 PAT margin %
+79 bps +78 bps
0.8% 0.0% 0.0% EPS (₹)
— —
0.02 0.00 0.00
Quality of profit
Pre-tax profit ₹0.8 Cr: core business ₹0.6 Cr, other income ₹0.2 Cr.
Core profit YoY: from loss
· reported profit +466.7%
Cash & debt
FY25 cash from operations ₹62.0 Cr.
Borrowings ₹44.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹116 ₹61.8
-46.9% below Net profit ₹0.1 ₹0.5
+749.8% above
M Cap ₹83.0 Cr
P/E 9.8
PEG 0.32
76% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +300%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+245.7% —
1.6 0.0 0.5 Operating profit
+300.0% from loss 0.1 -0.2 0.0 OPM %
+68 bps —
5.0% — 4.3% Other income
+62.5% +73.3%
0.3 0.1 0.2 Net profit
+92.3% from loss 0.2 -0.0 0.1 PAT margin %
-1254 bps —
15.7% — 28.3% EPS (₹)
+100.0% —
0.02 0.00 0.01
Quality of profit
Pre-tax profit ₹0.3 Cr: core business ₹0.1 Cr, other income ₹0.3 Cr.
Core profit YoY: +300.0%
· reported profit +92.3%
Cash & debt
FY25 cash from operations −₹0.4 Cr.
Borrowings nil at Mar 2025.
M Cap ₹82.0 Cr
P/E 10.0
PEG —
Profit +999% above its own trend Operating margin contracted 2610 bps YoY All of pre-tax profit came from other income or one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-45.2% -2.1%
14.7 15.0 26.7 Operating profit
loss widened loss widened -4.1 -2.4 -0.6 OPM %
-2610 bps -1249 bps
-28.2% -15.7% -2.1% Other income
+120.3% +111.2%
6.6 3.1 3.0 Net profit
+693.3% from loss 2.4 -0.2 0.3 PAT margin %
+1512 bps +1758 bps
16.2% -1.3% 1.1% EPS (₹)
+720.0% from loss 0.82 -0.07 0.10
Quality of profit
Pre-tax profit ₹0.5 Cr: core business −₹6.1 Cr, other income ₹6.6 Cr.
Core profit YoY: loss widened
· reported profit +693.3%
Cash & debt
FY25 cash from operations ₹20.7 Cr:
211% of FY25 net profit of ₹9.8 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹13.4 ₹14.7
+9.6% above Net profit ₹0.1 ₹2.4
+999.0% above
M Cap ₹82.0 Cr
P/E 7.9
PEG —
Profit +10% above its own trend 49% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -9%) FY25 operating cash flow was only 13% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-1.5% -6.1%
88.4 94.1 89.7 Operating profit
-9.8% -17.5%
2.1 2.6 2.4 OPM %
-22 bps -33 bps
2.4% 2.7% 2.6% Other income
+89.9% +184.8%
1.3 0.5 0.7 Net profit
+23.4% +18.0%
2.7 2.3 2.2 PAT margin %
+61 bps +62 bps
3.0% 2.4% 2.4% EPS (₹)
+25.8% +18.2%
0.39 0.33 0.31
Quality of profit
Pre-tax profit ₹2.7 Cr: core business ₹1.4 Cr, other income ₹1.3 Cr.
Core profit YoY: -8.6%
· reported profit +23.4%
Cash & debt
FY25 cash from operations ₹1.0 Cr:
13% of FY25 net profit of ₹7.6 Cr.
Borrowings ₹13.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹95.4 ₹88.4
-7.4% below Net profit ₹2.4 ₹2.7
+10.3% above
Turnaround: profit against a loss a year ago Operating margin expanded 159 bps YoY All of pre-tax profit came from other income or one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-6.2% -14.9%
32.0 37.6 34.1 Operating profit
+40.4% from loss 1.5 -0.2 1.1 OPM %
+159 bps +534 bps
4.8% -0.6% 3.2% Other income
+23.5% -42.6%
1.1 1.8 0.8 Net profit
from loss from loss 0.1 -0.8 -0.8 PAT margin %
+245 bps +227 bps
0.3% -2.0% -2.2% EPS (₹)
from loss from loss 0.08 -0.76 -0.75
Quality of profit
Pre-tax profit ₹0.1 Cr: core business −₹1.0 Cr, other income ₹1.1 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations ₹8.0 Cr.
Borrowings ₹64.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹25.9 ₹32.0
+23.6% above
Turnaround: profit against a loss a year ago Operating margin expanded 607 bps YoY All of pre-tax profit came from other income or one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+2.7% +4.4%
23.3 22.3 22.7 Operating profit
+568.0% +83.5%
1.7 0.9 0.2 OPM %
+607 bps +309 bps
7.2% 4.1% 1.1% Other income
+118.5% -48.2%
0.6 1.1 0.3 Net profit
from loss from loss 0.8 -0.2 -1.8 PAT margin %
+1151 bps +429 bps
3.4% -0.9% -8.1% EPS (₹)
from loss from loss 0.09 -0.02 -0.21
Quality of profit
Pre-tax profit ₹0.1 Cr: core business −₹0.5 Cr, other income ₹0.6 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations −₹5.0 Cr.
Borrowings ₹6.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹26.0 ₹23.3
-10.5% below
M Cap ₹73.0 Cr
P/E 12.8
PEG 1.59
Profit +138% above its own trend Operating margin contracted 1413 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
Dec 2025 Sep 2025 Dec 2024
Sales
-18.5% -22.6%
11.7 15.2 14.4 Operating profit
to loss to loss -0.7 1.1 1.1 OPM %
-1413 bps -1307 bps
-6.1% 6.9% 8.0% Other income
— —
9.4 0.3 0.2 Net profit?
+376.7% +226.9%
5.7 1.8 1.2 PAT margin %
+4042 bps +3721 bps
48.8% 11.6% 8.3% EPS (₹)
+377.4% +228.9%
1.48 0.45 0.31
Quality of profit
Pre-tax profit ₹8.5 Cr: core business −₹0.9 Cr, other income ₹9.4 Cr.
Core profit YoY: to loss
· reported profit +376.7%
Cash & debt
FY25 cash from operations −₹8.0 Cr:
-102% of FY25 net profit of ₹7.9 Cr.
Borrowings ₹0.8 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹14.9 ₹11.7
-21.3% below Net profit ₹2.4 ₹5.7
+138.3% above
M Cap ₹73.0 Cr
P/E 38.7
PEG —
Profit +18% above its own trend 55% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +169%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+34.5% +52.9%
7.7 5.0 5.7 Operating profit
+31.7% +248.4%
1.1 0.3 0.8 OPM %
-30 bps +785 bps
14.0% 6.1% 14.3% Other income
-8.5% +26.5%
0.4 0.3 0.5 Net profit
+16.0% —
0.6 0.0 0.5 PAT margin %
-120 bps +672 bps
7.5% 0.8% 8.7% EPS (₹)
+16.0% —
0.87 0.06 0.75
Quality of profit
Pre-tax profit ₹0.8 Cr: core business ₹0.4 Cr, other income ₹0.4 Cr.
Core profit YoY: +169.2%
· reported profit +16.0%
Cash & debt
FY25 cash from operations ₹5.0 Cr:
161% of FY25 net profit of ₹3.1 Cr.
Borrowings ₹8.6 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹4.9 ₹7.7
+57.7% above Net profit ₹0.5 ₹0.6
+17.9% above
M Cap ₹73.0 Cr
P/E 16.0
PEG 0.53
Turnaround: profit against a loss a year ago Operating margin contracted 3854 bps YoY All of pre-tax profit came from other income or one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-73.7% -33.0%
9.4 14.0 35.7 Operating profit
to loss loss narrowed -3.6 -5.4 0.0 OPM %
-3854 bps +16 bps
-38.5% -38.7% 0.0% Other income
+583.5% -14.2%
6.2 7.2 0.9 Net profit?
from loss +104.2%
1.5 0.7 -0.2 PAT margin %
+1620 bps +1051 bps
15.6% 5.1% -0.6% EPS (₹)
from loss +100.0%
0.10 0.05 -0.01
Quality of profit
Pre-tax profit ₹1.5 Cr: core business −₹4.8 Cr, other income ₹6.2 Cr.
Core profit YoY: loss widened
Cash & debt
FY25 cash from operations ₹6.2 Cr:
2841% of FY25 net profit of ₹0.2 Cr.
Borrowings ₹215 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹22.1 ₹9.4
-57.5% below
M Cap ₹71.0 Cr
P/E 2.5
PEG 0.06
Turnaround: profit against a loss a year ago Operating margin contracted 529 bps YoY 82% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+6.9% +0.7%
10.6 10.5 9.9 Operating profit
-9.8% +11.4%
3.0 2.7 3.4 OPM %
-529 bps +276 bps
28.6% 25.9% 33.9% Other income
from loss +931.7%
12.7 1.2 -232 Net profit?
from loss +310.6%
15.5 3.8 -237 EPS (₹)
from loss +310.0%
0.82 0.20 -12.74
Quality of profit
Pre-tax profit ₹15.5 Cr: core business ₹2.8 Cr, other income ₹12.7 Cr.
Core profit YoY: from loss
Cash & debt
FY25 cash from operations ₹15.0 Cr.
Borrowings ₹43.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹10.5 ₹10.6
+1.0% in line
M Cap ₹71.0 Cr
P/E 10.7
PEG —
Turnaround: profit against a loss a year ago Operating margin expanded 510 bps YoY All of pre-tax profit came from other income or one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+28.0% +2.9%
59.0 57.3 46.0 Operating profit
from loss +33.3%
1.5 1.1 -1.2 OPM %
+510 bps +59 bps
2.6% 2.0% -2.5% Other income
+133.8% +78.2%
1.8 1.0 0.8 Net profit?
from loss —
1.6 0.1 -1.2 PAT margin %
+536 bps +251 bps
2.7% 0.2% -2.7% EPS (₹)
from loss from loss 4.49 -0.03 -4.30
Quality of profit
Pre-tax profit ₹1.5 Cr: core business −₹0.3 Cr, other income ₹1.8 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations −₹3.0 Cr.
Borrowings ₹41.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹92.1 ₹59.0
-36.0% below
M Cap ₹69.0 Cr
P/E 789.9
PEG —
Profit -29% below its own trend 82% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -86%) Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+13.3% +38.3%
560 405 495 Operating profit
+13.5% +153.1%
5.3 2.1 4.7 OPM %
+0 bps +43 bps
0.9% 0.5% 0.9% Other income
+21.5% -41.5%
1.1 1.9 0.9 Net profit?
-41.5% from loss 1.3 -1.2 2.2 PAT margin %
-21 bps +53 bps
0.2% -0.3% 0.4% EPS (₹)
-40.6% from loss 0.38 -0.36 0.64
Quality of profit
Pre-tax profit ₹1.4 Cr: core business ₹0.2 Cr, other income ₹1.1 Cr.
Core profit YoY: -86.2%
· reported profit -41.5%
Cash & debt
FY25 cash from operations −₹38.0 Cr:
-1086% of FY25 net profit of ₹3.5 Cr.
Borrowings ₹212 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹498 ₹560
+12.6% above Net profit ₹1.8 ₹1.3
-29.1% below
M Cap ₹68.0 Cr
P/E 5.9
PEG —
Profit +999% above its own trend 58% 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
Dec 2025 Sep 2025 Dec 2024
Sales
+19.7% +32.8%
303 228 253 Operating profit
+131.5% +429.9%
5.1 1.0 2.2 OPM %
+82 bps +127 bps
1.7% 0.4% 0.9% Other income
-12.1% -12.1%
2.3 2.6 2.6 Net profit
+673.7% —
2.9 0.1 0.4 PAT margin %
+82 bps +94 bps
1.0% 0.0% 0.2% EPS (₹)
+642.9% —
0.52 0.01 0.07
Quality of profit
Pre-tax profit ₹3.9 Cr: core business ₹1.7 Cr, other income ₹2.3 Cr.
Core profit YoY: from loss
· reported profit +673.7%
Cash & debt
FY25 cash from operations −₹140 Cr:
-2003% of FY25 net profit of ₹7.0 Cr.
Borrowings ₹220 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹239 ₹303
+26.8% above Net profit ₹0.2 ₹2.9
+999.0% above
Profit +45% above its own trend All of pre-tax profit came from other income or one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
— —
0.0 0.0 0.0 Operating profit
— —
-0.0 -0.0 -0.0 Other income
+30.6% +67.9%
0.5 0.3 0.4 Net profit
+31.4% +70.4%
0.5 0.3 0.3 EPS (₹)
+0.0% +0.0%
0.01 0.01 0.01
Quality of profit
Pre-tax profit ₹0.5 Cr: core business −₹0.0 Cr, other income ₹0.5 Cr.
Core profit YoY: —
· reported profit +31.4%
Cash & debt
FY25 cash from operations ₹0.4 Cr:
600% of FY25 net profit of ₹0.1 Cr.
Borrowings ₹3.4 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Net profit ₹0.3 ₹0.5
+44.6% above
M Cap ₹67.0 Cr
P/E 54.5
PEG —
60% of pre-tax profit came from other income and one-off items
₹ Cr QoQ
Dec 2025 Sep 2025
Sales
-47.0%
128 242 Operating profit
from loss 1.3 -2.2 OPM %
+192 bps
1.0% -0.9% Other income
+44.1%
0.5 0.3 Net profit
from loss 0.6 -2.1 PAT margin %
+135 bps
0.5% -0.9% EPS (₹)
from loss 0.43 -1.49
Quality of profit
Pre-tax profit ₹0.8 Cr: core business ₹0.3 Cr, other income ₹0.5 Cr.
M Cap ₹67.0 Cr
P/E 21.1
PEG —
Profit -26% below its own trend Operating margin contracted 182 bps YoY 48% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+21.8% +3.9%
128 123 105 Operating profit
-14.3% -4.5%
5.5 5.8 6.4 OPM %
-182 bps -38 bps
4.3% 4.7% 6.1% Other income
+940.0% -8.8%
0.5 0.6 0.1 Net profit
-28.7% -43.1%
0.6 1.1 0.9 PAT margin %
-34 bps -40 bps
0.5% 0.9% 0.8% EPS (₹)
-28.6% -42.9%
0.20 0.35 0.28
Quality of profit
Pre-tax profit ₹1.1 Cr: core business ₹0.6 Cr, other income ₹0.5 Cr.
Core profit YoY: -41.2%
· reported profit -28.7%
Cash & debt
FY25 cash from operations ₹16.0 Cr:
505% of FY25 net profit of ₹3.2 Cr.
Borrowings ₹165 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹79.7 ₹128
+60.3% above Net profit ₹0.8 ₹0.6
-26.1% below
M Cap ₹65.0 Cr
P/E 18.0
PEG —
Profit +65% above its own trend Operating margin expanded 208 bps YoY 39% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +404%) Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+86.6% +25.3%
14.3 11.4 7.7 Operating profit
+117.9% +64.3%
2.1 1.3 0.9 OPM %
+208 bps +343 bps
14.4% 11.0% 12.4% Other income
+53.1% +11.9%
0.8 0.7 0.5 Net profit?
+181.5% +97.4%
1.5 0.8 0.5 PAT margin %
+358 bps +388 bps
10.6% 6.7% 7.0% EPS (₹)
+27.3% +100.0%
0.28 0.14 0.22
Quality of profit
Pre-tax profit ₹1.9 Cr: core business ₹1.2 Cr, other income ₹0.8 Cr.
Core profit YoY: +404.3%
· reported profit +181.5%
Cash & debt
FY25 cash from operations −₹1.1 Cr:
-165% of FY25 net profit of ₹0.7 Cr.
Borrowings ₹16.2 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹10.9 ₹14.3
+31.1% above Net profit ₹0.9 ₹1.5
+64.5% above
Turnaround: profit against a loss a year ago Operating margin expanded 455 bps YoY 50% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+37.5% -47.6%
11.0 21.0 8.0 Operating profit
+50.0% -60.0%
6.0 15.0 4.0 OPM %
+455 bps -1688 bps
54.5% 71.4% 50.0% Other income
loss narrowed —
0.0 0.0 -76.0 Net profit?
from loss -90.9%
1.0 11.0 -76.0 PAT margin %
— -4329 bps
9.1% 52.4% — EPS (₹)
from loss -87.9%
0.27 2.23 -16.08
Quality of profit
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: from loss
Cash & debt
FY25 cash from operations ₹22.0 Cr.
Borrowings ₹147 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹9.2 ₹11.0
+20.1% above
M Cap ₹64.0 Cr
P/E 11.8
PEG 0.08
Profit -60% below its own trend Operating margin expanded 239 bps YoY 64% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-22.4% -23.5%
93.3 122 120 Operating profit
+0.6% +20.4%
9.7 8.1 9.7 OPM %
+239 bps +380 bps
10.4% 6.6% 8.0% Other income
-68.1% -60.6%
1.0 2.5 3.1 Net profit
-38.5% -13.9%
1.0 1.1 1.6 PAT margin %
-28 bps +12 bps
1.1% 0.9% 1.3% EPS (₹)
-39.1% -14.3%
0.42 0.49 0.69
Quality of profit
Pre-tax profit ₹1.5 Cr: core business ₹0.5 Cr, other income ₹1.0 Cr.
Core profit YoY: from loss
· reported profit -38.5%
Cash & debt
FY25 cash from operations ₹37.0 Cr:
914% of FY25 net profit of ₹4.0 Cr.
Borrowings ₹188 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹103 ₹93.3
-9.1% below Net profit ₹2.5 ₹1.0
-60.4% below
How to read this page
The numbers. Each card is one company's Q3 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, 21:05 IST
