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
Latest results
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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
Filters & sorting
Results by sector
Latest Q3 FY26 results 4316
Page 23 of 144
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Profit +55% above its own trend
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+8.0% +5.5%
1,092 1,035 1,011 Operating profit
+14.3% +30.7%
143 109 125 OPM %
+71 bps +253 bps
13.1% 10.6% 12.4% Other income
-70.5% +81.5%
2.0 1.1 6.8 Net profit?
+29.5% +60.5%
61.6 38.3 47.5 PAT margin %
+93 bps +193 bps
5.6% 3.7% 4.7% EPS (₹)
+30.0% +61.6%
2.99 1.85 2.30
Quality of profit
Pre-tax profit ₹83.5 Cr: core business ₹83.0 Cr, other income ₹2.0 Cr, exceptional & other items −₹1.5 Cr.
Core profit YoY: +44.3%
· reported profit +29.5%
Cash & debt
FY25 cash from operations ₹373 Cr:
184% of FY25 net profit of ₹203 Cr.
Borrowings ₹380 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,106 ₹1,092
-1.2% in line Net profit ₹39.7 ₹61.6
+55.0% above
Into loss: a profit a year ago Operating margin contracted 7281 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-23.7% -56.9%
212 493 278 Operating profit
to loss loss widened -152 -52.3 3.0 OPM %
-7281 bps -6115 bps
-71.7% -10.6% 1.1% Other income
+65.9% +17.9%
51.6 43.8 31.1 Net profit?
to loss loss widened -234 -153 22.4 EPS (₹)
to loss loss widened -1.68 -1.12 0.35
Quality of profit
Pre-tax profit −₹239 Cr: core business −₹286 Cr, other income ₹51.6 Cr, exceptional & other items −₹4.4 Cr.
Core profit YoY: loss widened
Cash & debt
FY25 cash from operations ₹1,461 Cr:
1757% of FY25 net profit of ₹83.1 Cr.
Borrowings ₹4,594 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹557 ₹212
-61.9% below
M Cap ₹7,513 Cr
P/E 3.5
PEG —
₹ Cr QoQ
Dec 2025 Sep 2025
Sales
+4.8%
192 183 Operating profit
+2.2%
29.2 28.6 OPM %
-39 bps
15.3% 15.7% Other income
-20.9%
4.3 5.4 Net profit?
-0.3%
20.4 20.4 PAT margin %
-54 bps
10.6% 11.2% EPS (₹)
-5.0%
0.96 1.01
Quality of profit
Pre-tax profit ₹26.5 Cr: core business ₹22.2 Cr, other income ₹4.3 Cr.
M Cap ₹7,498 Cr
P/E 53.8
PEG 2.34
Operating margin contracted 109 bps YoY Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+27.7% +41.8%
649 458 508 Operating profit
+12.7% +52.7%
53.0 34.7 47.0 OPM %
-109 bps +58 bps
8.2% 7.6% 9.3% Other income
+91.5% +76.5%
3.8 2.2 2.0 Net profit
+13.8% +114.7%
27.3 12.7 24.0 PAT margin %
-52 bps +143 bps
4.2% 2.8% 4.7% EPS (₹)
+12.8% +114.1%
2.12 0.99 1.88
Quality of profit
Pre-tax profit ₹36.1 Cr: core business ₹33.8 Cr, other income ₹3.8 Cr, exceptional & other items −₹1.5 Cr.
Core profit YoY: +16.7%
· reported profit +13.8%
Cash & debt
FY25 cash from operations −₹41.0 Cr:
-39% of FY25 net profit of ₹105 Cr.
Borrowings ₹480 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹622 ₹649
+4.4% in line Net profit ₹25.6 ₹27.3
+6.7% in line
M Cap ₹7,494 Cr
P/E 25.8
PEG 0.72
Operating margin contracted 142 bps YoY Profit grew faster than the core business (core profit +2%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+8.4% -8.3%
763 832 704 Operating profit
-4.9% -39.5%
78.0 129 82.0 OPM %
-142 bps -528 bps
10.2% 15.5% 11.6% Other income
+160.0% +44.4%
13.0 9.0 5.0 Net profit?
+226.7% +16.7%
98.0 84.0 30.0 PAT margin %
+858 bps +275 bps
12.8% 10.1% 4.3% EPS (₹)
-13.6% +20.4%
8.81 7.32 10.20
Quality of profit
Pre-tax profit ₹58.0 Cr: core business ₹44.0 Cr, other income ₹13.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +2.3%
· reported profit +226.7%
Cash & debt
FY25 cash from operations ₹256 Cr.
Borrowings ₹312 Cr at Mar 2025.
M Cap ₹7,494 Cr
P/E 20.4
PEG 0.93
Profit +18% above its own trend
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+13.3% -4.7%
1,149 1,206 1,014 Operating profit
+14.1% -8.6%
230 252 202 OPM %
+14 bps -85 bps
20.0% 20.9% 19.9% Other income
-84.3% -83.2%
2.0 11.9 12.7 Net profit?
+34.3% +19.1%
126 106 94.1 PAT margin %
+172 bps +220 bps
11.0% 8.8% 9.3% EPS (₹)
+34.8% +21.2%
3.95 3.26 2.93
Quality of profit
Pre-tax profit ₹107 Cr: core business ₹104 Cr, other income ₹2.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +18.3%
· reported profit +34.3%
Cash & debt
FY25 cash from operations ₹795 Cr:
219% of FY25 net profit of ₹364 Cr.
Borrowings ₹802 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,072 ₹1,149
+7.2% above Net profit ₹107 ₹126
+17.9% above
M Cap ₹7,493 Cr
P/E 31.6
PEG 0.90
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Total income
+17.2% +6.7%
239 224 204 Net interest income
+18.9% +15.1%
145 126 122 Other income
— —
-1.0 0.0 0.0 Net profit?
+6.5% +26.9%
66.0 52.0 62.0 EPS (₹)
+4.3% +28.1%
0.73 0.57 0.70 Gross NPA %
-24 bps +0 bps
0.8% 0.8% 1.1% Net NPA %
-15 bps +0 bps
0.7% 0.7% 0.8%
Against its own trend ?
Trend Actual Gap
NII ₹132 ₹145
+9.5% above Net profit ₹69.9 ₹66.0
-5.5% in line
M Cap ₹7,485 Cr
P/E 93.4
PEG 0.88
Turnaround: profit against a loss a year ago Operating margin expanded 2151 bps YoY 83% of pre-tax profit came from other income and one-off items Exceptional items of ₹25.8 Cr in the quarter
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+174.9% —
459 18.0 167 Operating profit
from loss from loss 30.0 -52.0 -25.0 OPM %
+2151 bps —
6.5% — -15.0% Other income
+282.1% -4.5%
107 112 28.0 Net profit?
from loss from loss 109 -24.5 -22.0 PAT margin %
+3689 bps —
23.7% — -13.2% EPS (₹)
from loss +141.3%
5.43 2.25 -1.05
Quality of profit
Pre-tax profit ₹129 Cr: core business ₹22.0 Cr, other income ₹107 Cr.
Core profit YoY: from loss
Cash & debt
FY25 cash from operations −₹542 Cr.
Borrowings ₹1,439 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹224 ₹459
+105.1% above
M Cap ₹7,478 Cr
P/E 37.7
PEG 5.38
Profit +11% above its own trend
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+10.4% +11.3%
387 348 351 Operating profit
+9.5% +47.5%
70.8 48.0 64.7 OPM %
-15 bps +449 bps
18.3% 13.8% 18.4% Other income
+99.4% +96.6%
17.7 9.0 8.9 Net profit?
+18.0% +76.1%
56.3 32.0 47.8 PAT margin %
+93 bps +535 bps
14.5% 9.2% 13.6% EPS (₹)
+17.9% +75.8%
5.66 3.22 adj. 4.80
EPS restated for the 4:1 bonus of Jan 2025: Dec 2024 ₹24.00 to ₹4.80.
Quality of profit
Pre-tax profit ₹75.4 Cr: core business ₹57.7 Cr, other income ₹17.7 Cr.
Core profit YoY: +8.8%
· reported profit +18.0%
Cash & debt
FY25 cash from operations ₹195 Cr:
84% of FY25 net profit of ₹232 Cr.
Borrowings ₹65.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹390 ₹387
-0.8% in line Net profit ₹50.6 ₹56.3
+11.4% above
M Cap ₹7,458 Cr
P/E 25.6
PEG —
₹ Cr QoQ
Dec 2025 Sep 2025
Sales
-2.2%
624 638 Net profit
-27.0%
55.2 75.6 PAT margin %
-301 bps
8.8% 11.8%
M Cap ₹7,453 Cr
P/E 20.8
PEG —
Profit -21% below its own trend Exceptional items of ₹-17.7 Cr in the quarter Core business grew faster than reported profit (core profit +29%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+0.6% -7.8%
1,618 1,755 1,608 Operating profit
+7.0% -13.3%
186 214 174 OPM %
+68 bps -73 bps
11.5% 12.2% 10.8% Other income
-42.9% +15.6%
5.1 4.4 9.0 Net profit?
-1.8% -38.2%
53.3 86.3 54.3 PAT margin %
-8 bps -162 bps
3.3% 4.9% 3.4% EPS (₹)
-2.1% -38.4%
3.23 5.24 3.30
Quality of profit
Pre-tax profit ₹77.2 Cr: core business ₹89.8 Cr, other income ₹5.1 Cr, exceptional & other items −₹17.7 Cr.
Core profit YoY: +29.1%
· reported profit -1.8%
Cash & debt
FY25 cash from operations ₹654 Cr:
222% of FY25 net profit of ₹294 Cr.
Borrowings ₹1,278 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,725 ₹1,618
-6.2% below Net profit ₹67.1 ₹53.3
-20.5% below
M Cap ₹7,409 Cr
P/E 33.7
PEG 0.50
Profit -37% below its own trend
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+15.7% +7.5%
1,806 1,679 1,561 Operating profit
+19.7% +6.6%
159 149 133 OPM %
+29 bps -8 bps
8.8% 8.9% 8.5% Other income
+45.7% +4.4%
18.2 17.5 12.5 Net profit?
+26.0% +4.1%
57.8 55.5 45.9 PAT margin %
+26 bps -11 bps
3.2% 3.3% 2.9% EPS (₹)
+25.5% +4.1%
4.82 4.63 3.84
Quality of profit
Pre-tax profit ₹73.3 Cr: core business ₹55.0 Cr, other income ₹18.2 Cr.
Core profit YoY: +24.9%
· reported profit +26.0%
Cash & debt
FY25 cash from operations ₹540 Cr:
360% of FY25 net profit of ₹150 Cr.
Borrowings ₹1,120 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,641 ₹1,806
+10.1% above Net profit ₹91.7 ₹57.8
-37.0% below
M Cap ₹7,391 Cr
P/E 23.8
PEG —
Operating margin contracted 7212 bps YoY 77% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+941.1% —
4,301 246 413 Operating profit
+44.7% -20.1%
501 627 346 OPM %
-7212 bps —
11.6% — 83.8% Other income
+36.6% +36.6%
50.5 37.0 37.0 Net profit?
-76.6% -66.6%
37.7 113 161 PAT margin %
-3818 bps -4499 bps
0.9% 45.9% 39.1% EPS (₹)
from loss -87.3%
0.40 3.15 -4.80
Quality of profit
Pre-tax profit ₹65.6 Cr: core business ₹15.1 Cr, other income ₹50.5 Cr.
Core profit YoY: from loss
· reported profit -76.6%
Cash & debt
Borrowings ₹9,824 Cr at Dec 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹410 ₹4,301
+948.1% above
M Cap ₹7,379 Cr
P/E 109.9
PEG 5.49
Operating margin expanded 171 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+21.1% +9.0%
121 111 99.8 Operating profit
+30.7% +9.5%
28.4 25.9 21.7 OPM %
+171 bps +11 bps
23.5% 23.3% 21.7% Other income
-60.5% +25.2%
0.2 0.2 0.6 Net profit?
+8.4% +15.9%
16.5 14.2 15.2 PAT margin %
-160 bps +80 bps
13.6% 12.8% 15.2% EPS (₹)
+8.5% +16.4%
1.28 1.10 1.18
Quality of profit
Pre-tax profit ₹22.1 Cr: core business ₹21.9 Cr, other income ₹0.2 Cr.
Core profit YoY: +14.5%
· reported profit +8.4%
Cash & debt
FY25 cash from operations ₹27.0 Cr:
51% of FY25 net profit of ₹52.4 Cr.
Borrowings ₹1.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹117 ₹121
+3.3% in line Net profit ₹16.2 ₹16.5
+1.5% in line
M Cap ₹7,365 Cr
P/E 39.6
PEG 7.92
Profit -13% below its own trend Operating margin contracted 211 bps YoY 31% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+0.1% +6.2%
668 629 667 Operating profit
-16.9% -14.8%
69.0 81.0 83.0 OPM %
-211 bps -255 bps
10.3% 12.9% 12.4% Other income
+57.1% -8.3%
11.0 12.0 7.0 Net profit
-18.2% -25.0%
27.0 36.0 33.0 PAT margin %
-91 bps -168 bps
4.0% 5.7% 4.9% EPS (₹)
-19.5% -26.2%
1.07 1.45 1.33
Quality of profit
Pre-tax profit ₹36.0 Cr: core business ₹25.0 Cr, other income ₹11.0 Cr.
Core profit YoY: -34.2%
· reported profit -18.2%
Cash & debt
FY25 cash from operations ₹406 Cr:
239% of FY25 net profit of ₹170 Cr.
Borrowings ₹213 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹619 ₹668
+7.9% above Net profit ₹31.2 ₹27.0
-13.5% below
M Cap ₹7,347 Cr
P/E 47.6
PEG 3.97
Profit +18% above its own trend Gross NPA down 523 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Total income
+10.9% +7.6%
71.0 66.0 64.0 Net interest income
— +7.0%
46.0 43.0 — Other income
— —
1.0 0.0 — Net profit
+39.1% +10.3%
32.0 29.0 23.0 EPS (₹)
+40.8% +9.5%
0.69 0.63 0.49 Gross NPA %
-523 bps +16 bps
0.4% 0.2% 5.6%
Against its own trend ?
Trend Actual Gap
Net profit ₹27.1 ₹32.0
+18.1% above
M Cap ₹7,337 Cr
P/E 17.6
PEG 1.76
Profit -17% below its own trend Operating margin contracted 956 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+19.8% +3.7%
248 239 207 Operating profit
+0.8% -7.4%
126 136 125 OPM %
-956 bps -609 bps
50.8% 56.9% 60.4% Other income
-14.5% +8.6%
26.5 24.4 31.0 Net profit
-4.9% -12.0%
105 119 110 PAT margin %
-1093 bps -751 bps
42.2% 49.7% 53.1% EPS (₹)
-4.8% -12.0%
14.85 16.88 15.60
Quality of profit
Pre-tax profit ₹132 Cr: core business ₹105 Cr, other income ₹26.5 Cr.
Core profit YoY: -4.2%
· reported profit -4.9%
Cash & debt
FY25 cash from operations ₹349 Cr:
93% of FY25 net profit of ₹375 Cr.
Borrowings ₹1.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹249 ₹248
-0.6% in line Net profit ₹126 ₹105
-16.7% below
M Cap ₹7,139 Cr
P/E 46.1
PEG —
Profit -11% below its own trend Operating margin contracted 304 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+115.8% +36.0%
612 450 284 Operating profit
+68.6% +7.5%
66.5 61.8 39.4 OPM %
-304 bps -289 bps
10.9% 13.7% 13.9% Other income
+87.6% +67.2%
2.9 1.7 1.6 Net profit?
+77.4% +4.3%
31.8 30.5 17.9 PAT margin %
-112 bps -158 bps
5.2% 6.8% 6.3% EPS (₹)
+77.5% +4.0%
3.62 3.48 2.04
Quality of profit
Pre-tax profit ₹50.7 Cr: core business ₹47.8 Cr, other income ₹2.9 Cr.
Core profit YoY: +88.4%
· reported profit +77.4%
Against its own trend ?
Trend Actual Gap
Sales ₹520 ₹612
+17.9% above Net profit ₹35.8 ₹31.8
-11.3% below
M Cap ₹7,136 Cr
P/E 108.9
PEG 6.81
Profit -24% below its own trend Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-8.8% +2.8%
430 418 472 Operating profit
-10.6% -10.0%
30.2 33.6 33.8 OPM %
-14 bps -100 bps
7.0% 8.0% 7.2% Other income
from loss +16.7%
2.6 2.2 -0.2 Net profit?
-18.5% -27.1%
12.2 16.8 15.0 PAT margin %
-34 bps -117 bps
2.8% 4.0% 3.2% EPS (₹)
-20.6% -27.6%
1.39 1.92 1.75
Quality of profit
Pre-tax profit ₹19.4 Cr: core business ₹16.4 Cr, other income ₹2.6 Cr.
Core profit YoY: -17.0%
· reported profit -18.5%
Cash & debt
FY25 cash from operations −₹13.0 Cr:
-21% of FY25 net profit of ₹63.3 Cr.
Borrowings ₹198 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹424 ₹430
+1.3% in line Net profit ₹16.0 ₹12.2
-23.6% below
M Cap ₹7,135 Cr
P/E 50.2
PEG 2.18
Profit -14% below its own trend Operating margin expanded 178 bps YoY 39% of pre-tax profit came from other income and one-off items Exceptional items of ₹-2.5 Cr in the quarter Core business grew faster than reported profit (core profit +18%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+3.7% -10.6%
218 244 210 Operating profit
+16.8% -19.1%
34.8 43.0 29.8 OPM %
+178 bps -168 bps
15.9% 17.6% 14.2% Other income
+20.9% +130.7%
18.5 8.0 15.3 Net profit?
-4.0% -14.6%
24.8 29.0 25.8 PAT margin %
-91 bps -53 bps
11.4% 11.9% 12.3% EPS (₹)
-3.1% -14.7%
2.20 2.58 2.27
Quality of profit
Pre-tax profit ₹40.9 Cr: core business ₹25.0 Cr, other income ₹18.5 Cr, exceptional & other items −₹2.5 Cr.
Core profit YoY: +18.0%
· reported profit -4.0%
Cash & debt
FY25 cash from operations ₹106 Cr:
117% of FY25 net profit of ₹90.9 Cr.
Borrowings ₹88.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹228 ₹218
-4.2% in line Net profit ₹28.8 ₹24.8
-13.9% below
M Cap ₹7,121 Cr
P/E 26.3
PEG 0.28
Profit -53% below its own trend Operating margin contracted 499 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+15.2% +15.8%
2,280 1,969 1,979 Operating profit
-20.2% +61.0%
256 159 321 OPM %
-499 bps +315 bps
11.2% 8.1% 16.2% Other income
from loss -65.4%
9.0 26.0 -46.0 Net profit?
-5.5% +103.9%
155 76.0 164 PAT margin %
-149 bps +294 bps
6.8% 3.9% 8.3% EPS (₹)
-4.7% +102.5%
1.62 0.80 1.70
Quality of profit
Pre-tax profit ₹202 Cr: core business ₹193 Cr, other income ₹9.0 Cr.
Core profit YoY: -20.9%
· reported profit -5.5%
Cash & debt
FY25 cash from operations ₹1,186 Cr:
175% of FY25 net profit of ₹679 Cr.
Borrowings ₹321 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,931 ₹2,280
+18.1% above Net profit ₹328 ₹155
-52.7% below
M Cap ₹7,101 Cr
P/E 34.4
PEG —
Profit +42% above its own trend Exceptional items of ₹-4.3 Cr in the quarter
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+2.9% +21.9%
1,940 1,591 1,885 Operating profit
+20.1% +45.6%
119 81.6 98.9 OPM %
+88 bps +100 bps
6.1% 5.1% 5.2% Other income
+54.3% +127.4%
3.8 1.7 2.5 Net profit?
-6.0% +83.7%
29.6 16.1 31.6 PAT margin %
-15 bps +51 bps
1.5% 1.0% 1.7% EPS (₹)
-6.1% +83.3%
0.77 0.42 0.82
Quality of profit
Pre-tax profit ₹39.4 Cr: core business ₹39.9 Cr, other income ₹3.8 Cr, exceptional & other items −₹4.3 Cr.
Core profit YoY: +1.7%
· reported profit -6.0%
Cash & debt
FY25 cash from operations ₹176 Cr:
113% of FY25 net profit of ₹156 Cr.
Borrowings ₹1,976 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹2,022 ₹1,940
-4.1% in line Net profit ₹20.9 ₹29.6
+42.0% above
M Cap ₹7,101 Cr
P/E 35.8
PEG 1.09
Profit -14% below its own trend
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+11.2% +3.3%
206 200 186 Operating profit
+9.3% -0.8%
72.1 72.6 66.0 OPM %
-61 bps -144 bps
34.9% 36.4% 35.5% Other income
+24.4% -4.2%
2.6 2.7 2.1 Net profit
+6.2% -1.5%
49.7 50.4 46.8 PAT margin %
-113 bps -117 bps
24.1% 25.2% 25.2% EPS (₹)
+6.0% -1.6%
6.17 6.27 5.82
Quality of profit
Pre-tax profit ₹66.9 Cr: core business ₹64.8 Cr, other income ₹2.6 Cr.
Core profit YoY: +7.1%
· reported profit +6.2%
Cash & debt
FY25 cash from operations ₹165 Cr:
88% of FY25 net profit of ₹188 Cr.
Borrowings ₹5.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹220 ₹206
-6.0% below Net profit ₹57.5 ₹49.7
-13.6% below
M Cap ₹7,076 Cr
P/E 37.3
PEG —
Profit -41% below its own trend Operating margin contracted 194 bps YoY Exceptional items of ₹-25.5 Cr in the quarter
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+10.2% -3.9%
801 834 727 Operating profit
-9.4% -25.5%
71.9 96.5 79.4 OPM %
-194 bps -260 bps
9.0% 11.6% 10.9% Other income
+0.8% +12.2%
17.2 15.3 17.1 Net profit?
-44.6% -49.7%
31.8 63.2 57.4 PAT margin %
-392 bps -362 bps
4.0% 7.6% 7.9% EPS (₹)
-43.8% -48.8%
2.40 4.69 4.27
Quality of profit
Pre-tax profit ₹39.5 Cr: core business ₹47.8 Cr, other income ₹17.2 Cr, exceptional & other items −₹25.5 Cr.
Core profit YoY: -17.7%
· reported profit -44.6%
Cash & debt
FY25 cash from operations ₹157 Cr:
145% of FY25 net profit of ₹108 Cr.
Borrowings ₹180 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹756 ₹801
+6.0% above Net profit ₹53.4 ₹31.8
-40.5% below
M Cap ₹7,067 Cr
P/E 13.3
PEG 3.32
Profit +27% above its own trend
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+12.1% +3.9%
1,121 1,078 1,000 Operating profit
+16.6% +7.4%
191 177 163 OPM %
+66 bps +54 bps
17.0% 16.5% 16.3% Other income
-15.1% -10.7%
8.0 8.9 9.4 Net profit?
+10.9% +5.1%
131 125 119 PAT margin %
-13 bps +12 bps
11.7% 11.6% 11.8% EPS (₹)
+12.8% +5.5%
9.95 9.43 8.82
Quality of profit
Pre-tax profit ₹165 Cr: core business ₹157 Cr, other income ₹8.0 Cr.
Core profit YoY: +14.2%
· reported profit +10.9%
Cash & debt
FY25 cash from operations ₹642 Cr:
127% of FY25 net profit of ₹507 Cr.
Borrowings ₹64.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,029 ₹1,121
+8.9% above Net profit ₹103 ₹131
+26.9% above
M Cap ₹7,025 Cr
P/E 41.9
PEG 0.32
Profit -21% below its own trend Core business grew faster than reported profit (core profit +38%) Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+25.6% +8.7%
1,707 1,571 1,359 Operating profit
+36.0% +9.6%
68.0 62.1 50.0 OPM %
+30 bps +3 bps
4.0% 4.0% 3.7% Other income
to loss to loss -4.0 4.8 7.5 Net profit?
+15.5% -7.1%
34.0 36.6 29.4 PAT margin %
-18 bps -34 bps
2.0% 2.3% 2.2% EPS (₹)
+8.5% -12.5%
6.35 7.26 5.85
Quality of profit
Pre-tax profit ₹40.0 Cr: core business ₹44.0 Cr, other income −₹4.0 Cr.
Core profit YoY: +37.8%
· reported profit +15.5%
Cash & debt
FY25 cash from operations −₹77.0 Cr:
-72% of FY25 net profit of ₹107 Cr.
Borrowings ₹385 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,749 ₹1,707
-2.4% in line Net profit ₹43.2 ₹34.0
-21.4% below
M Cap ₹6,986 Cr
P/E 44.0
PEG 1.52
Core business grew faster than reported profit (core profit +61%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+18.6% +0.5%
1,044 1,039 880 Operating profit
+30.1% +10.5%
95.0 86.0 73.0 OPM %
+80 bps +82 bps
9.1% 8.3% 8.3% Other income
to loss to loss -2.0 4.0 6.0 Net profit?
+34.5% +11.4%
39.0 35.0 29.0 PAT margin %
+44 bps +37 bps
3.7% 3.4% 3.3% EPS (₹)
+32.8% +9.8%
3.24 2.95 2.44
Quality of profit
Pre-tax profit ₹51.0 Cr: core business ₹53.0 Cr, other income −₹2.0 Cr.
Core profit YoY: +60.6%
· reported profit +34.5%
Cash & debt
FY25 cash from operations ₹114 Cr:
103% of FY25 net profit of ₹111 Cr.
Borrowings ₹892 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,095 ₹1,044
-4.7% in line Net profit ₹42.2 ₹39.0
-7.7% in line
M Cap ₹6,980 Cr
P/E 33.3
PEG —
Profit -42% below its own trend Operating margin expanded 464 bps YoY Exceptional items of ₹-10.1 Cr in the quarter FY25 operating cash flow was only 10% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-54.1% -56.0%
577 1,309 1,256 Operating profit
-32.0% -50.3%
82.4 166 121 OPM %
+464 bps +163 bps
14.3% 12.7% 9.7% Other income
-36.0% +27.6%
30.4 23.9 47.5 Net profit?
-43.5% -41.2%
62.0 105 110 PAT margin %
+202 bps +269 bps
10.8% 8.1% 8.7% EPS (₹)
-43.7% -41.3%
12.50 21.30 22.20
Quality of profit
Pre-tax profit ₹86.3 Cr: core business ₹66.0 Cr, other income ₹30.4 Cr, exceptional & other items −₹10.1 Cr.
Core profit YoY: -33.8%
· reported profit -43.5%
Cash & debt
FY25 cash from operations ₹203 Cr:
10% of FY25 net profit of ₹1,996 Cr.
Borrowings ₹7.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,294 ₹577
-55.4% below Net profit ₹107 ₹62.0
-42.0% below
M Cap ₹6,930 Cr
P/E 65.1
PEG 3.83
Operating margin contracted 240 bps YoY 33% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -20%) Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+26.8% +22.5%
469 383 370 Operating profit
+7.0% +27.1%
61.0 48.0 57.0 OPM %
-240 bps +47 bps
13.0% 12.5% 15.4% Other income
+133.3% +16.7%
14.0 12.0 6.0 Net profit?
+6.9% +29.2%
31.0 24.0 29.0 PAT margin %
-123 bps +34 bps
6.6% 6.3% 7.8% EPS (₹)
+3.4% +27.9%
11.37 8.89 11.00
Quality of profit
Pre-tax profit ₹42.0 Cr: core business ₹28.0 Cr, other income ₹14.0 Cr.
Core profit YoY: -20.0%
· reported profit +6.9%
Cash & debt
FY25 cash from operations −₹20.0 Cr:
-21% of FY25 net profit of ₹96.0 Cr.
Borrowings ₹289 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹473 ₹469
-0.8% in line Net profit ₹32.1 ₹31.0
-3.5% in line
M Cap ₹6,922 Cr
P/E 53.1
PEG —
Exceptional items of ₹-1.6 Cr in the quarter
₹ Cr QoQ
Dec 2025 Sep 2025
Sales
+14.9%
818 712 Operating profit
+7.3%
49.4 46.0 OPM %
-42 bps
6.0% 6.5% Other income
+17.2%
4.7 4.0 Net profit
-22.2%
23.3 30.0 PAT margin %
-136 bps
2.9% 4.2% EPS (₹)
-23.2%
4.00 5.21
Quality of profit
Pre-tax profit ₹31.2 Cr: core business ₹28.1 Cr, other income ₹4.7 Cr, exceptional & other items −₹1.6 Cr.
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, 21:52 IST
