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
Results calendar
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The next results season has started: 45 companies have filed results for the quarter ended 30 Sep 2026.
See them → Q3 FY26 scoreboard
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
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M Cap ₹1,355 Cr
P/E 19.6
PEG 0.48
Profit -34% below its own trend Operating margin contracted 643 bps YoY 29% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+119.9% +4.0%
281 270 128 Operating profit
+5.6% -16.6%
16.7 20.0 15.8 OPM %
-643 bps -147 bps
5.9% 7.4% 12.4% Other income
+11.2% -4.3%
6.0 6.3 5.4 Net profit?
+8.7% -16.7%
15.2 18.3 14.0 PAT margin %
-555 bps -135 bps
5.4% 6.8% 11.0% EPS (₹)
— -18.2%
1.39 1.70 1.44
No EPS growth against Dec 2024: ₹10 to ₹5 split in Oct 2026.
Quality of profit
Pre-tax profit ₹21.0 Cr: core business ₹14.9 Cr, other income ₹6.0 Cr.
Core profit YoY: +9.2%
· reported profit +8.7%
Cash & debt
FY25 cash from operations ₹67.0 Cr:
127% of FY25 net profit of ₹52.6 Cr.
Borrowings ₹7.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹255 ₹281
+10.0% above Net profit ₹23.2 ₹15.2
-34.3% below
M Cap ₹1,354 Cr
P/E 7.0
PEG 0.12
Turnaround: profit against a loss a year ago Operating margin expanded 900 bps YoY Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+17.4% -4.1%
425 443 362 Operating profit
+30.0% +34.9%
394 292 303 OPM %
+900 bps +2679 bps
92.7% 65.9% 83.7% Other income
+0.0% +0.0%
1.0 1.0 1.0 Net profit
from loss from loss 54.0 -45.0 -10.0 PAT margin %
+1547 bps +2286 bps
12.7% -10.2% -2.8% EPS (₹)
from loss from loss 2.99 -2.52 -0.56
Quality of profit
Pre-tax profit ₹68.0 Cr: core business ₹66.0 Cr, other income ₹1.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: from loss
Cash & debt
FY25 cash from operations −₹197 Cr:
-85% of FY25 net profit of ₹233 Cr.
Borrowings ₹22,384 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹330 ₹425
+28.7% above
M Cap ₹1,347 Cr
P/E 7.5
PEG 0.63
Profit -36% below its own trend Operating margin contracted 311 bps YoY 38% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-7.7% +2.0%
477 467 516 Operating profit
-23.6% +7.3%
71.4 66.6 93.5 OPM %
-311 bps +74 bps
15.0% 14.2% 18.1% Other income
+31.5% -7.7%
27.9 30.3 21.2 Net profit?
-12.0% -3.1%
55.2 56.9 62.7 PAT margin %
-57 bps -61 bps
11.6% 12.2% 12.1% EPS (₹)
-13.5% -7.4%
2.49 2.69 2.88
Quality of profit
Pre-tax profit ₹73.3 Cr: core business ₹45.4 Cr, other income ₹27.9 Cr.
Core profit YoY: -25.5%
· reported profit -12.0%
Cash & debt
FY25 cash from operations ₹224 Cr:
238% of FY25 net profit of ₹93.9 Cr.
Borrowings ₹186 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹529 ₹477
-9.8% below Net profit ₹85.8 ₹55.2
-35.7% below
M Cap ₹1,345 Cr
P/E 1.2
PEG 0.08
Turnaround: profit against a loss a year ago 42% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+3.6% -1.7%
351 356 338 Operating profit
+4.3% -16.6%
94.5 113 90.7 OPM %
+18 bps -484 bps
27.0% 31.8% 26.8% Other income
+152.9% -56.4%
8.2 18.8 3.2 Net profit
from loss from loss 19.6 -193 -210 PAT margin %
+6767 bps +5986 bps
5.6% -54.3% -62.1% EPS (₹)
from loss from loss 0.01 -0.15 -0.16
Quality of profit
Pre-tax profit ₹19.6 Cr: core business ₹11.4 Cr, other income ₹8.2 Cr.
Core profit YoY: from loss
Cash & debt
FY25 cash from operations ₹635 Cr.
Borrowings ₹3,715 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹343 ₹351
+2.3% in line
M Cap ₹1,340 Cr
P/E 18.2
PEG 0.70
Profit +296% above its own trend Operating margin expanded 1023 bps YoY Core business grew faster than reported profit (core profit +308%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+26.9% +6.2%
142 134 112 Operating profit
+106.0% +10.0%
37.9 34.4 18.4 OPM %
+1023 bps +91 bps
26.6% 25.7% 16.4% Other income
-28.9% -3.5%
1.2 1.2 1.7 Net profit?
+214.9% +15.5%
18.1 15.7 5.8 PAT margin %
+761 bps +103 bps
12.7% 11.7% 5.1% EPS (₹)
+213.9% +15.3%
3.39 2.94 1.08
Quality of profit
Pre-tax profit ₹25.0 Cr: core business ₹23.8 Cr, other income ₹1.2 Cr.
Core profit YoY: +307.7%
· reported profit +214.9%
Cash & debt
FY25 cash from operations ₹31.0 Cr:
92% of FY25 net profit of ₹33.7 Cr.
Borrowings ₹173 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹120 ₹142
+18.3% above Net profit ₹4.6 ₹18.1
+296.2% above
Profit -93% below its own trend Operating margin contracted 270 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-26.6% +3.7%
240 232 328 Operating profit
-43.1% -18.2%
22.5 27.5 39.4 OPM %
-270 bps -251 bps
9.3% 11.9% 12.0% Other income
+84.4% -56.0%
0.5 1.1 0.3 Net profit
-85.6% +7.9%
2.3 2.1 15.9 PAT margin %
-390 bps +4 bps
0.9% 0.9% 4.8% EPS (₹)
-84.6% +0.0%
0.02 0.02 0.13
Quality of profit
Pre-tax profit ₹2.3 Cr: core business ₹1.8 Cr, other income ₹0.5 Cr.
Core profit YoY: -88.6%
· reported profit -85.6%
Cash & debt
FY25 cash from operations ₹97.0 Cr:
374% of FY25 net profit of ₹25.9 Cr.
Borrowings ₹358 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹339 ₹240
-29.1% below Net profit ₹31.7 ₹2.3
-92.8% below
M Cap ₹1,326 Cr
P/E 28.7
PEG —
Operating margin contracted 112 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+60.5% +7.0%
491 459 306 Operating profit
+31.6% +8.7%
25.0 23.0 19.0 OPM %
-112 bps +8 bps
5.1% 5.0% 6.2% Other income
-100.0% -100.0%
0.0 3.0 1.0 Net profit
+25.0% +0.0%
10.0 10.0 8.0 PAT margin %
-58 bps -14 bps
2.0% 2.2% 2.6% EPS (₹)
+30.6% +0.0%
1.58 1.58 1.21
Quality of profit
Pre-tax profit ₹13.0 Cr: core business ₹14.0 Cr, other income ₹0.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +40.0%
· reported profit +25.0%
M Cap ₹1,324 Cr
P/E 18.4
PEG —
Profit -67% below its own trend Operating margin contracted 337 bps YoY 62% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+9.7% -3.5%
520 539 474 Operating profit
-21.1% -22.4%
45.0 58.0 57.0 OPM %
-337 bps -211 bps
8.7% 10.8% 12.0% Other income
+0.0% +0.0%
5.0 5.0 5.0 Net profit
-61.5% -64.3%
5.0 14.0 13.0 PAT margin %
-178 bps -164 bps
1.0% 2.6% 2.7% EPS (₹)
-62.2% -63.8%
0.17 0.47 0.45
Quality of profit
Pre-tax profit ₹8.0 Cr: core business ₹3.0 Cr, other income ₹5.0 Cr.
Core profit YoY: -81.2%
· reported profit -61.5%
Cash & debt
FY25 cash from operations ₹191 Cr:
637% of FY25 net profit of ₹30.0 Cr.
Borrowings ₹427 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹487 ₹520
+6.8% above Net profit ₹15.0 ₹5.0
-66.6% below
M Cap ₹1,313 Cr
P/E 9.5
PEG 0.17
Profit +134% above its own trend Operating margin expanded 397 bps YoY Core business grew faster than reported profit (core profit +462%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+9.2% +10.6%
645 583 591 Operating profit
+82.0% +4.9%
64.0 61.0 35.2 OPM %
+397 bps -54 bps
9.9% 10.5% 6.0% Other income
+71.8% +0.0%
2.0 2.0 1.2 Net profit?
+369.0% +2.0%
18.4 18.0 3.9 PAT margin %
+218 bps -24 bps
2.8% 3.1% 0.7% EPS (₹)
+372.2% +0.0%
1.70 1.70 0.36
Quality of profit
Pre-tax profit ₹29.0 Cr: core business ₹26.0 Cr, other income ₹2.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +461.7%
· reported profit +369.0%
Cash & debt
FY25 cash from operations ₹199 Cr:
605% of FY25 net profit of ₹32.9 Cr.
Borrowings ₹540 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹618 ₹645
+4.3% in line Net profit ₹7.8 ₹18.4
+134.5% above
M Cap ₹1,311 Cr
P/E 15.3
PEG 0.43
Operating margin expanded 273 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+9.6% -3.2%
341 352 311 Operating profit
+41.8% +10.1%
41.0 37.2 28.9 OPM %
+273 bps +146 bps
12.0% 10.6% 9.3% Other income
-21.8% -21.4%
1.0 1.3 1.3 Net profit?
+30.1% +5.8%
24.0 22.7 18.5 PAT margin %
+111 bps +60 bps
7.0% 6.4% 5.9% EPS (₹)
+27.2% +3.5%
18.45 17.82 14.51
Quality of profit
Pre-tax profit ₹31.0 Cr: core business ₹31.0 Cr, other income ₹1.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +32.4%
· reported profit +30.1%
Cash & debt
FY25 cash from operations ₹66.0 Cr:
91% of FY25 net profit of ₹72.5 Cr.
Borrowings ₹139 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹360 ₹341
-5.3% below Net profit ₹23.5 ₹24.0
+2.2% in line
M Cap ₹1,305 Cr
P/E 37.6
PEG —
Exceptional items of ₹-4.8 Cr in the quarter
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+23.7% -4.2%
469 489 379 Operating profit
+38.4% -39.3%
23.1 38.0 16.7 OPM %
+52 bps -285 bps
4.9% 7.8% 4.4% Other income
-35.3% -6.5%
1.9 2.0 2.9 Net profit?
loss widened to loss -3.1 13.0 -2.2 PAT margin %
-8 bps -332 bps
-0.7% 2.7% -0.6% EPS (₹)
loss widened to loss -0.43 1.76 adj. -0.30
EPS restated for the 1:1 bonus of Jul 2025: Dec 2024 ₹-0.60 to ₹-0.30.
Quality of profit
Pre-tax profit −₹3.7 Cr: core business −₹0.8 Cr, other income ₹1.9 Cr, exceptional & other items −₹4.8 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations ₹28.0 Cr:
65% of FY25 net profit of ₹43.0 Cr.
Borrowings ₹213 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹423 ₹469
+10.8% above
M Cap ₹1,304 Cr
P/E 8.8
PEG —
Profit +17% above its own trend Operating margin contracted 539 bps YoY All of pre-tax profit came from other income or one-off items FY25 operating cash flow was only 9% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-3.7% +4.2%
251 241 261 Operating profit
-52.6% -27.1%
13.1 18.0 27.7 OPM %
-539 bps -224 bps
5.2% 7.5% 10.6% Other income
+6.0% +12.2%
58.4 52.0 55.1 Net profit?
-3.7% +15.4%
40.4 35.0 41.9 PAT margin %
+1 bps +157 bps
16.1% 14.5% 16.1% EPS (₹)
-5.9% +8.1%
0.80 0.74 0.85
Quality of profit
Pre-tax profit ₹47.9 Cr: core business −₹10.4 Cr, other income ₹58.4 Cr.
Core profit YoY: to loss
· reported profit -3.7%
Cash & debt
FY25 cash from operations ₹18.0 Cr:
9% of FY25 net profit of ₹197 Cr.
Borrowings ₹23.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹251 ₹251
-0.2% in line Net profit ₹34.7 ₹40.4
+16.5% above
M Cap ₹1,303 Cr
P/E 18.5
PEG —
Profit +224% above its own trend Operating margin expanded 247 bps YoY Core business grew faster than reported profit (core profit +113%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+9.5% -10.3%
451 503 412 Operating profit
+36.6% +522.2%
56.0 9.0 41.0 OPM %
+247 bps +1063 bps
12.4% 1.8% 10.0% Other income
-14.3% +200.0%
6.0 2.0 7.0 Net profit
+76.8% from loss 26.5 -9.0 15.0 PAT margin %
+224 bps +766 bps
5.9% -1.8% 3.6% EPS (₹)
+79.9% from loss 4.12 -1.36 2.29
Quality of profit
Pre-tax profit ₹37.1 Cr: core business ₹32.0 Cr, other income ₹6.0 Cr, exceptional & other items −₹0.9 Cr.
Core profit YoY: +113.3%
· reported profit +76.8%
Cash & debt
FY25 cash from operations ₹200 Cr:
384% of FY25 net profit of ₹52.2 Cr.
Borrowings ₹936 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹403 ₹451
+12.0% above Net profit ₹8.2 ₹26.5
+224.2% above
All of pre-tax profit came from other income or one-off items
₹ Cr
Dec 2025
Sales
83.4 Operating profit
-17.6 OPM %
-21.1% Other income
28.2 Net profit?
5.9 PAT margin %
7.1% EPS (₹)
0.77
Sep 2025 and Dec 2024 are not on record for this company, so there is nothing to compare with yet.
Quality of profit
Pre-tax profit ₹8.5 Cr: core business −₹19.8 Cr, other income ₹28.2 Cr.
M Cap ₹1,293 Cr
P/E 15.0
PEG 0.63
Profit -13% below its own trend Operating margin expanded 704 bps YoY Core business grew faster than reported profit (core profit +50%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+10.1% +4.1%
153 147 139 Operating profit
+43.8% +27.8%
46.0 36.0 32.0 OPM %
+704 bps +558 bps
30.1% 24.5% 23.0% Other income
to loss to loss -2.0 2.0 4.0 Net profit?
+5.0% +16.7%
21.0 18.0 20.0 PAT margin %
-66 bps +148 bps
13.7% 12.2% 14.4% EPS (₹)
+4.7% +18.3%
13.68 11.56 13.07
Quality of profit
Pre-tax profit ₹28.0 Cr: core business ₹30.0 Cr, other income −₹2.0 Cr.
Core profit YoY: +50.0%
· reported profit +5.0%
Cash & debt
FY25 cash from operations ₹118 Cr:
172% of FY25 net profit of ₹68.7 Cr.
Borrowings ₹63.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹159 ₹153
-3.6% in line Net profit ₹24.0 ₹21.0
-12.7% below
M Cap ₹1,292 Cr
P/E 30.7
PEG 1.62
Profit +125% above its own trend Operating margin expanded 271 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
+37.6% +89.7%
63.1 33.2 45.8 Operating profit
+59.4% +139.7%
12.5 5.2 7.8 OPM %
+271 bps +413 bps
19.8% 15.7% 17.1% Other income
+114.0% +39.3%
6.0 4.3 2.8 Net profit
+102.3% +134.0%
12.5 5.3 6.2 PAT margin %
+635 bps +376 bps
19.9% 16.1% 13.5% EPS (₹)
+102.2% +134.1%
21.70 9.27 10.73
Quality of profit
Pre-tax profit ₹16.1 Cr: core business ₹10.2 Cr, other income ₹6.0 Cr.
Core profit YoY: +82.4%
· reported profit +102.3%
Cash & debt
FY25 cash from operations ₹33.0 Cr:
67% of FY25 net profit of ₹48.9 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹39.2 ₹63.1
+60.7% above Net profit ₹5.6 ₹12.5
+124.8% above
M Cap ₹1,283 Cr
P/E 29.2
PEG —
Profit -46% below its own trend Operating margin expanded 319 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+34.7% +7.2%
563 525 418 Operating profit
+96.6% +29.5%
57.0 44.0 29.0 OPM %
+319 bps +174 bps
10.1% 8.4% 6.9% Other income
-85.7% from loss 2.0 -10.0 14.0 Net profit
+7.7% from loss 14.0 -1.0 13.0 PAT margin %
-62 bps +268 bps
2.5% -0.2% 3.1% EPS (₹)
+13.4% from loss 8.48 -0.86 7.48
Quality of profit
Pre-tax profit ₹26.0 Cr: core business ₹24.0 Cr, other income ₹2.0 Cr.
Core profit YoY: from loss
· reported profit +7.7%
Cash & debt
FY25 cash from operations ₹176 Cr:
1035% of FY25 net profit of ₹17.0 Cr.
Borrowings ₹644 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹532 ₹563
+5.8% above Net profit ₹26.0 ₹14.0
-46.2% below
Turnaround: profit against a loss a year ago Operating margin expanded 1232 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+44.2% +14.8%
186 162 129 Operating profit
+371.4% +37.5%
33.0 24.0 7.0 OPM %
+1232 bps +293 bps
17.7% 14.8% 5.4% Other income
— —
0.0 0.0 0.0 Net profit
from loss +125.0%
9.0 4.0 -11.0 PAT margin %
+1337 bps +237 bps
4.8% 2.5% -8.5% EPS (₹)
from loss +113.8%
0.62 0.29 -0.76
Quality of profit
Pre-tax profit ₹15.0 Cr: core business ₹14.0 Cr, other income ₹0.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: from loss
Cash & debt
FY25 cash from operations ₹84.0 Cr.
Borrowings ₹168 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹147 ₹186
+26.9% above
M Cap ₹1,280 Cr
P/E 78.1
PEG 2.44
Profit +15% above its own trend Operating margin contracted 182 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+2.5% -1.4%
216 219 211 Operating profit
-14.1% -13.1%
20.4 23.5 23.7 OPM %
-182 bps -127 bps
9.4% 10.7% 11.3% Other income
-78.4% -42.9%
0.1 0.1 0.4 Net profit
-32.2% -22.9%
3.5 4.5 5.2 PAT margin %
-83 bps -45 bps
1.6% 2.1% 2.4% EPS (₹)
-32.3% -22.9%
1.11 1.44 1.64
Quality of profit
Pre-tax profit ₹4.2 Cr: core business ₹4.1 Cr, other income ₹0.1 Cr.
Core profit YoY: -39.0%
· reported profit -32.2%
Cash & debt
FY25 cash from operations ₹94.0 Cr:
389% of FY25 net profit of ₹24.2 Cr.
Borrowings ₹151 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹205 ₹216
+5.7% above Net profit ₹3.0 ₹3.5
+15.1% above
M Cap ₹1,278 Cr
P/E 51.1
PEG —
Profit -99% below its own trend Operating margin contracted 279 bps YoY FY25 operating cash flow was only 4% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-98.8% +64.8%
194 118 16,624 Operating profit
-99.1% from loss 17.8 -5.3 1,984 OPM %
-279 bps +1362 bps
9.1% -4.5% 11.9% Other income
-99.6% +165.2%
0.1 0.0 17.2 Net profit?
-99.1% from loss 9.3 -9.9 1,040 PAT margin %
-145 bps +1322 bps
4.8% -8.4% 6.3% EPS (₹)
-10.6% from loss 1.93 -2.06 2.16
Quality of profit
Pre-tax profit ₹10.7 Cr: core business ₹10.7 Cr, other income ₹0.1 Cr.
Core profit YoY: -99.2%
· reported profit -99.1%
Cash & debt
FY25 cash from operations ₹42.0 Cr:
4% of FY25 net profit of ₹1,068 Cr.
Borrowings ₹148 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹15,760 ₹194
-98.8% below Net profit ₹698 ₹9.3
-98.7% below
M Cap ₹1,277 Cr
P/E 1052.9
PEG —
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+462.9% -18.3%
14.0 17.1 2.5 Operating profit
from loss +64.0%
3.9 2.4 -4.3 OPM %
— +1410 bps
28.1% 14.0% — Other income
+12.6% -19.5%
3.1 3.9 2.8 Net profit?
loss widened loss widened -4.1 -2.6 -0.7 PAT margin %
+76 bps -1387 bps
-29.1% -15.2% -29.8% EPS (₹)
loss widened loss widened -0.14 -0.12 -0.02
Quality of profit
Pre-tax profit −₹1.9 Cr: core business −₹5.0 Cr, other income ₹3.1 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations ₹19.5 Cr.
Borrowings ₹23.2 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹5.0 ₹14.0
+181.5% above
₹ Cr QoQ
Dec 2025 Sep 2025
Sales
-33.3%
209 313
M Cap ₹1,273 Cr
P/E 15.0
PEG 0.03
Profit +77% above its own trend Operating margin expanded 547 bps YoY Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+22.2% +22.4%
230 188 188 Operating profit
+148.0% +181.6%
24.8 8.8 10.0 OPM %
+547 bps +610 bps
10.8% 4.7% 5.3% Other income
-65.6% -87.3%
1.4 10.8 4.0 Net profit?
+103.4% +35.3%
20.3 15.0 10.0 PAT margin %
+353 bps +84 bps
8.9% 8.0% 5.3% EPS (₹)
+96.4% +31.0%
2.75 2.10 1.40
Quality of profit
Pre-tax profit ₹20.3 Cr: core business ₹19.0 Cr, other income ₹1.4 Cr.
Core profit YoY: +110.7%
· reported profit +103.4%
Cash & debt
FY25 cash from operations −₹84.0 Cr:
-175% of FY25 net profit of ₹48.1 Cr.
Borrowings ₹369 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹141 ₹230
+63.1% above Net profit ₹11.5 ₹20.3
+76.7% above
M Cap ₹1,270 Cr
P/E 13.0
PEG 0.87
26% of pre-tax profit came from other income and one-off items FY25 operating cash flow was only 21% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+9.1% +16.2%
231 199 212 Operating profit
+8.2% +21.9%
17.8 14.6 16.4 OPM %
-7 bps +36 bps
7.7% 7.3% 7.8% Other income
+10.7% -64.0%
6.0 16.7 5.4 Net profit
+5.4% -32.6%
17.2 25.5 16.3 PAT margin %
-26 bps -540 bps
7.4% 12.8% 7.7% EPS (₹)
+5.4% -32.6%
13.77 20.44 13.06
Quality of profit
Pre-tax profit ₹23.4 Cr: core business ₹17.4 Cr, other income ₹6.0 Cr.
Core profit YoY: +7.8%
· reported profit +5.4%
Cash & debt
FY25 cash from operations ₹18.0 Cr:
21% of FY25 net profit of ₹83.7 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹222 ₹231
+3.9% in line Net profit ₹18.0 ₹17.2
-4.3% in line
M Cap ₹1,267 Cr
P/E 23.2
PEG —
All of pre-tax profit came from other income or one-off items
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-14.9% +1.1%
159 157 187 Operating profit
-15.2% -38.6%
13.0 21.2 15.3 OPM %
-2 bps -528 bps
8.2% 13.5% 8.2% Other income
+19.6% —
7.0 0.2 5.9 Net profit?
-26.8% -28.5%
4.0 5.6 5.5 PAT margin %
-41 bps -104 bps
2.5% 3.6% 2.9% EPS (₹)
+20.4% -35.0%
1.30 2.00 1.08
Quality of profit
Pre-tax profit ₹6.0 Cr: core business −₹2.0 Cr, other income ₹7.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: to loss
· reported profit -26.8%
Cash & debt
FY25 cash from operations ₹56.0 Cr.
Borrowings ₹249 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹221 ₹159
-28.2% below
M Cap ₹1,262 Cr
P/E 19.7
PEG 0.35
Operating margin expanded 175 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+1.7% -8.2%
56.1 61.1 55.1 Operating profit
+7.2% -7.4%
19.2 20.8 17.9 OPM %
+175 bps +29 bps
34.3% 34.0% 32.5% Other income
+37.8% +1.4%
2.1 2.1 1.6 Net profit?
+3.6% -15.6%
13.3 15.7 12.8 PAT margin %
+43 bps -207 bps
23.7% 25.8% 23.3% EPS (₹)
+3.5% -15.4%
8.82 10.43 8.52
Quality of profit
Pre-tax profit ₹19.3 Cr: core business ₹17.1 Cr, other income ₹2.1 Cr.
Core profit YoY: +7.6%
· reported profit +3.6%
Cash & debt
FY25 cash from operations ₹68.0 Cr:
106% of FY25 net profit of ₹64.1 Cr.
Borrowings ₹1.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹57.1 ₹56.1
-1.9% in line Net profit ₹12.7 ₹13.3
+4.6% in line
M Cap ₹1,258 Cr
P/E 13.1
PEG 0.01
Profit +14% above its own trend Operating margin expanded 110 bps YoY Core business grew faster than reported profit (core profit +78%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+22.5% +3.3%
349 338 285 Operating profit
+39.1% -13.5%
32.0 37.0 23.0 OPM %
+110 bps -178 bps
9.2% 10.9% 8.1% Other income
-33.3% +100.0%
2.0 1.0 3.0 Net profit
+44.4% -18.8%
13.0 16.0 9.0 PAT margin %
+57 bps -101 bps
3.7% 4.7% 3.2% EPS (₹)
+40.8% -17.4%
1.38 1.67 0.98
Quality of profit
Pre-tax profit ₹18.0 Cr: core business ₹16.0 Cr, other income ₹2.0 Cr.
Core profit YoY: +77.8%
· reported profit +44.4%
Cash & debt
FY25 cash from operations ₹162 Cr:
289% of FY25 net profit of ₹56.0 Cr.
Borrowings ₹63.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹299 ₹349
+16.6% above Net profit ₹11.4 ₹13.0
+14.3% above
M Cap ₹1,255 Cr
P/E 11.5
PEG —
Turnaround: profit against a loss a year ago Operating margin expanded 496 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+23.6% +5.7%
631 597 511 Operating profit
+216.7% -6.8%
51.4 55.1 16.2 OPM %
+496 bps -108 bps
8.1% 9.2% 3.2% Other income
-4.5% -27.8%
4.9 6.8 5.2 Net profit?
from loss -31.1%
23.1 33.6 -0.4 PAT margin %
+374 bps -196 bps
3.7% 5.6% -0.1% EPS (₹)
— -31.5%
1.65 2.41 0.06
Quality of profit
Pre-tax profit ₹30.9 Cr: core business ₹29.7 Cr, other income ₹4.9 Cr, exceptional & other items −₹3.7 Cr.
Core profit YoY: from loss
Cash & debt
FY25 cash from operations ₹128 Cr:
482% of FY25 net profit of ₹26.6 Cr.
Borrowings ₹13.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹584 ₹631
+8.0% above
M Cap ₹1,250 Cr
P/E 19.1
PEG 9.56
Profit +50% above its own trend Operating margin expanded 299 bps YoY Exceptional items of ₹2.1 Cr in the quarter
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+15.3% -3.4%
247 255 214 Operating profit
+53.5% +12.7%
29.6 26.2 19.3 OPM %
+299 bps +171 bps
12.0% 10.3% 9.0% Other income
— -67.1%
2.0 6.1 0.2 Net profit?
+127.5% -25.5%
13.8 18.5 6.1 PAT margin %
+276 bps -167 bps
5.6% 7.3% 2.8% EPS (₹)
+127.5% -25.5%
11.26 15.12 4.95
Quality of profit
Pre-tax profit ₹18.6 Cr: core business ₹18.7 Cr, other income ₹2.0 Cr, exceptional & other items −₹2.1 Cr.
Core profit YoY: +125.5%
· reported profit +127.5%
Cash & debt
FY25 cash from operations ₹25.0 Cr:
64% of FY25 net profit of ₹38.9 Cr.
Borrowings ₹168 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹223 ₹247
+10.7% above Net profit ₹9.2 ₹13.8
+50.0% above
M Cap ₹1,243 Cr
P/E 35.6
PEG 0.53
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+33.2% -4.4%
305 319 229 Operating profit
+30.8% +6.2%
17.0 16.0 13.0 OPM %
-10 bps +56 bps
5.6% 5.0% 5.7% Other income
— -66.7%
1.0 3.0 0.0 Net profit
-25.0% -25.0%
6.0 8.0 8.0 PAT margin %
-153 bps -54 bps
2.0% 2.5% 3.5% EPS (₹)
-26.7% -21.4%
0.11 0.14 0.15
Quality of profit
Pre-tax profit ₹7.0 Cr: core business ₹7.0 Cr, other income ₹1.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +0.0%
· reported profit -25.0%
Cash & debt
FY25 cash from operations ₹37.0 Cr:
253% of FY25 net profit of ₹14.6 Cr.
Borrowings ₹262 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹282 ₹305
+8.2% above
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 14 Oct 2026, 04:52 IST
