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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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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Operating margin expanded 219 bps YoY Core business grew faster than reported profit (core profit +44%)
₹ Cr YoY
Dec 2025 Dec 2024
Sales
+13.2%
59.9 52.9 Operating profit
+30.4%
9.9 7.6 OPM %
+219 bps
16.6% 14.4% Other income
+160.8%
0.5 0.2 Net profit?
+5.0%
5.5 5.3 PAT margin %
-72 bps
9.2% 10.0% EPS (₹)
+2.6%
0.40 0.39
Quality of profit
Pre-tax profit ₹7.8 Cr: core business ₹7.3 Cr, other income ₹0.5 Cr.
Core profit YoY: +44.1%
· reported profit +5.0%
M Cap ₹547 Cr
P/E 7.6
PEG 0.35
Profit +29% above its own trend Operating margin expanded 344 bps YoY 53% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +132%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-3.2% -2.8%
167 172 173 Operating profit
+35.0% -26.6%
20.4 27.8 15.1 OPM %
+344 bps -395 bps
12.2% 16.1% 8.7% Other income
+182.0% +111.6%
11.6 5.5 4.1 Net profit?
+157.2% -7.0%
19.3 20.8 7.5 PAT margin %
+719 bps -52 bps
11.5% 12.1% 4.3% EPS (₹)
+156.9% -7.0%
7.86 8.45 3.06
Quality of profit
Pre-tax profit ₹22.0 Cr: core business ₹10.3 Cr, other income ₹11.6 Cr.
Core profit YoY: +132.5%
· reported profit +157.2%
Cash & debt
FY25 cash from operations ₹57.0 Cr:
121% of FY25 net profit of ₹47.1 Cr.
Borrowings ₹96.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹186 ₹167
-9.9% below Net profit ₹15.0 ₹19.3
+28.6% above
M Cap ₹545 Cr
P/E 54.2
PEG 0.46
Profit +129% above its own trend Operating margin expanded 490 bps YoY 35% 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
-11.4% -13.0%
60.1 69.1 67.9 Operating profit
+42.3% +7.1%
7.8 7.3 5.5 OPM %
+490 bps +243 bps
13.0% 10.5% 8.1% Other income
+95.0% -1.9%
1.5 1.5 0.8 Net profit?
+201.1% +4.0%
3.2 3.0 1.0 PAT margin %
+370 bps +86 bps
5.2% 4.4% 1.5% EPS (₹)
+200.0% +0.0%
0.03 0.03 0.01
Quality of profit
Pre-tax profit ₹4.2 Cr: core business ₹2.7 Cr, other income ₹1.5 Cr.
Core profit YoY: +219.1%
· reported profit +201.1%
Cash & debt
FY25 cash from operations −₹21.0 Cr:
-329% of FY25 net profit of ₹6.4 Cr.
Borrowings ₹5.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹79.6 ₹60.1
-24.5% below Net profit ₹1.4 ₹3.2
+128.5% above
M Cap ₹541 Cr
P/E 24.9
PEG —
Profit +20% above its own trend Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+46.1% +27.7%
196 153 134 Operating profit
+37.3% +21.1%
10.3 8.5 7.5 OPM %
-33 bps -29 bps
5.2% 5.5% 5.6% Other income
from loss +641.7%
0.5 0.1 -0.1 Net profit
+60.6% +29.7%
6.5 5.0 4.0 PAT margin %
+30 bps +5 bps
3.3% 3.3% 3.0% EPS (₹)
+37.3% +27.7%
4.01 3.14 2.92
Quality of profit
Pre-tax profit ₹8.3 Cr: core business ₹7.8 Cr, other income ₹0.5 Cr.
Core profit YoY: +40.3%
· reported profit +60.6%
Cash & debt
FY25 cash from operations −₹4.0 Cr:
-28% of FY25 net profit of ₹14.5 Cr.
Borrowings ₹51.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹163 ₹196
+20.4% above Net profit ₹5.4 ₹6.5
+19.8% above
M Cap ₹539 Cr
P/E 38.8
PEG 1.18
Profit +999% above its own trend
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Total income
— +10.8%
9.5 8.6 0.7 Net profit
— +7.6%
6.5 6.0 0.3 EPS (₹)
— +7.6%
21.96 20.41 1.38
Against its own trend ?
Trend Actual Gap
Total income ₹0.6 ₹9.5
+999.0% above Net profit ₹0.2 ₹6.5
+999.0% above
M Cap ₹538 Cr
P/E 17.9
PEG 0.74
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+22.2% +4.1%
111 107 91.0 Operating profit
+23.3% +14.0%
13.5 11.9 11.0 OPM %
+12 bps +105 bps
12.2% 11.1% 12.0% Other income
+0.0% +0.0%
0.0 0.0 0.0 Net profit
+25.4% +26.9%
8.7 6.8 6.9 PAT margin %
+20 bps +141 bps
7.8% 6.4% 7.6% EPS (₹)
+24.7% +26.1%
1.11 0.88 0.89
Quality of profit
Pre-tax profit ₹10.7 Cr: core business ₹10.7 Cr, other income ₹0.0 Cr.
Core profit YoY: +27.3%
· reported profit +25.4%
Cash & debt
FY25 cash from operations ₹16.0 Cr:
68% of FY25 net profit of ₹23.6 Cr.
Borrowings ₹46.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹104 ₹111
+6.9% above Net profit ₹8.3 ₹8.7
+4.4% in line
M Cap ₹532 Cr
P/E 11.3
PEG 0.28
Profit -17% below its own trend 57% 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
+50.6% +7.1%
756 706 502 Operating profit
+14.6% +16.4%
12.8 11.0 11.2 OPM %
-53 bps +14 bps
1.7% 1.6% 2.2% Other income
-13.1% +12.1%
5.6 5.0 6.4 Net profit?
+34.4% -52.7%
8.5 18.0 6.3 PAT margin %
-14 bps -142 bps
1.1% 2.5% 1.3% EPS (₹)
+36.8% -51.9%
0.26 0.54 adj. 0.19
EPS restated for the ₹2 to ₹1 split of Mar 2025: Dec 2024 ₹0.38 to ₹0.19.
Quality of profit
Pre-tax profit ₹9.8 Cr: core business ₹4.3 Cr, other income ₹5.6 Cr.
Core profit YoY: +39.3%
· reported profit +34.4%
Cash & debt
FY25 cash from operations −₹39.0 Cr:
-167% of FY25 net profit of ₹23.3 Cr.
Borrowings ₹224 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹564 ₹756
+34.2% above Net profit ₹10.3 ₹8.5
-17.4% below
Operating margin expanded 147 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+1.8% +0.0%
125 125 123 Operating profit
+161.8% -57.1%
3.0 7.0 1.1 OPM %
+147 bps -320 bps
2.4% 5.6% 0.9% Other income
to loss to loss -2.0 5.0 1.2 Net profit?
loss narrowed to loss -8.0 4.0 -8.6 PAT margin %
+57 bps -960 bps
-6.4% 3.2% -7.0% EPS (₹)
loss narrowed to loss -3.95 2.17 -4.14
Quality of profit
Pre-tax profit −₹9.0 Cr: core business −₹7.0 Cr, other income −₹2.0 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations ₹5.0 Cr:
162% of FY25 net profit of ₹3.1 Cr.
Borrowings ₹134 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹108 ₹125
+15.3% above
Operating margin expanded 1161 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-20.0% -28.0%
3.8 5.3 4.8 Operating profit
from loss from loss 0.1 -0.0 -0.4 OPM %
+1161 bps +362 bps
2.9% -0.8% -8.8% Other income
-9.2% -4.7%
4.2 4.4 4.7 Net profit?
loss narrowed loss narrowed -23.9 -26.0 -89.0 EPS (₹)
loss narrowed loss narrowed -21.83 -23.71 -81.28
Quality of profit
Pre-tax profit −₹22.6 Cr: core business ₹0.1 Cr, other income ₹4.2 Cr, exceptional & other items −₹26.9 Cr.
Core profit YoY: from loss
Cash & debt
FY25 cash from operations ₹185 Cr:
213% of FY25 net profit of ₹87.0 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹2.9 ₹3.8
+30.6% above
M Cap ₹515 Cr
P/E 19.7
PEG 1.10
Profit +127% above its own trend Operating margin expanded 402 bps YoY Exceptional items of ₹2.1 Cr in the quarter Core business grew faster than reported profit (core profit +750%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+26.0% -17.8%
93.4 114 74.1 Operating profit
+86.0% -8.5%
11.6 12.7 6.2 OPM %
+402 bps +126 bps
12.4% 11.2% 8.4% Other income
+7.0% -18.3%
1.5 1.8 1.4 Net profit?
+159.2% -41.2%
4.4 7.5 1.7 PAT margin %
+243 bps -188 bps
4.7% 6.6% 2.3% EPS (₹)
+164.3% -41.3%
0.37 0.63 0.14
Quality of profit
Pre-tax profit ₹5.9 Cr: core business ₹6.6 Cr, other income ₹1.5 Cr, exceptional & other items −₹2.1 Cr.
Core profit YoY: +750.0%
· reported profit +159.2%
Cash & debt
FY25 cash from operations ₹21.0 Cr:
212% of FY25 net profit of ₹9.9 Cr.
Borrowings ₹72.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹75.1 ₹93.4
+24.3% above Net profit ₹1.9 ₹4.4
+126.6% above
M Cap ₹511 Cr
P/E 3.8
PEG 0.11
Operating margin expanded 1374 bps YoY 93% of pre-tax profit came from other income and one-off items FY25 operating cash flow was only 16% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+35.5% -22.0%
35.3 45.3 26.1 Operating profit
— -50.3%
5.4 10.8 0.4 OPM %
+1374 bps -867 bps
15.2% 23.9% 1.5% Other income
+22.0% from loss 35.6 -32.3 29.2 Net profit?
+48.4% from loss 29.7 -17.4 20.0 PAT margin %
+733 bps +12231 bps
84.0% -38.3% 76.7% EPS (₹)
+48.1% from loss 4.68 -2.74 3.16
Quality of profit
Pre-tax profit ₹38.5 Cr: core business ₹2.9 Cr, other income ₹35.6 Cr.
Core profit YoY: from loss
· reported profit +48.4%
Cash & debt
FY25 cash from operations ₹15.0 Cr:
16% of FY25 net profit of ₹91.7 Cr.
Borrowings ₹86.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹30.7 ₹35.3
+15.3% above Net profit ₹32.7 ₹29.7
-9.2% in line
Operating margin expanded 8196 bps YoY Borrowings down 53% since Mar 2025
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+323.2% +119.4%
29.6 13.5 7.0 Operating profit
from loss from loss 7.4 -3.6 -4.0 OPM %
+8196 bps +5165 bps
24.8% -26.8% -57.1% Other income
from loss +262.5%
0.2 0.1 -2.0 Net profit?
loss narrowed to loss -49.2 6,306 -362 EPS (₹)
loss narrowed to loss -6.78 1043.40 -140.82
Quality of profit
Pre-tax profit −₹49.2 Cr: core business −₹49.0 Cr, other income ₹0.2 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations ₹11.0 Cr.
Borrowings ₹1,436 Cr at Sep 2025, against ₹3,040 Cr at Mar 2025 (-53% ).
Against its own trend ?
Trend Actual Gap
Sales ₹3.5 ₹29.6
+746.4% above
M Cap ₹509 Cr
P/E 16.4
PEG 0.32
Profit -25% below its own trend Core business grew faster than reported profit (core profit +47%) Operating cash flow was negative in FY25 despite a profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+33.4% +15.9%
56.0 48.3 42.0 Operating profit
+29.5% +24.2%
10.0 8.1 7.7 OPM %
-53 bps +120 bps
17.9% 16.7% 18.4% Other income
-100.0% -100.0%
0.0 0.3 0.2 Net profit?
+18.1% +19.7%
6.0 5.0 5.1 PAT margin %
-139 bps +34 bps
10.7% 10.4% 12.1% EPS (₹)
— +18.6%
1.53 adj. 1.292.67
EPS restated for the 2:1 bonus of Oct 2025: Sep 2025 ₹3.87 to ₹1.29. No EPS growth against Dec 2024: 2:1 bonus in Oct 2025.
Quality of profit
Pre-tax profit ₹9.0 Cr: core business ₹9.0 Cr, other income ₹0.0 Cr.
Core profit YoY: +46.9%
· reported profit +18.1%
Cash & debt
FY25 cash from operations −₹5.0 Cr:
-32% of FY25 net profit of ₹15.4 Cr.
Borrowings ₹35.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹46.2 ₹56.0
+21.3% above Net profit ₹8.0 ₹6.0
-25.4% below
M Cap ₹508 Cr
P/E 14.0
PEG —
35% of pre-tax profit came from other income and one-off items
₹ Cr QoQ
Dec 2025 Sep 2025
Sales
-33.1%
144 215 Operating profit
-77.9%
4.0 18.0 OPM %
-560 bps
2.8% 8.4% Other income
—
1.4 0.0 Net profit
-77.5%
2.7 12.0 PAT margin %
-370 bps
1.9% 5.6% EPS (₹)
-81.2%
0.29 1.54
Quality of profit
Pre-tax profit ₹3.8 Cr: core business ₹2.5 Cr, other income ₹1.4 Cr.
M Cap ₹508 Cr
P/E 48.2
PEG 1.79
Operating margin expanded 127 bps YoY All of pre-tax profit came from other income or one-off items Exceptional items of ₹-1.8 Cr in the quarter
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-8.2% +14.4%
62.4 54.5 67.9 Operating profit
loss narrowed loss narrowed -3.1 -8.8 -4.3 OPM %
+127 bps +1114 bps
-5.0% -16.2% -6.3% Other income
+16.7% -9.1%
8.9 9.8 7.7 Net profit?
+19.5% from loss 1.8 -1.3 1.5 PAT margin %
+66 bps +517 bps
2.9% -2.3% 2.2% EPS (₹)
+27.3% from loss 0.14 -0.10 0.11
Quality of profit
Pre-tax profit ₹1.7 Cr: core business −₹5.5 Cr, other income ₹8.9 Cr, exceptional & other items −₹1.7 Cr.
Core profit YoY: loss narrowed
· reported profit +19.5%
Cash & debt
FY25 cash from operations −₹49.0 Cr.
Borrowings ₹2,672 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹69.0 ₹62.4
-9.6% below
M Cap ₹507 Cr
P/E 11.2
PEG 0.43
Profit -28% below its own trend Operating margin contracted 413 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+0.6% -11.1%
16.1 18.1 16.0 Operating profit
-3.9% -13.4%
14.4 16.6 15.0 OPM %
-413 bps -239 bps
89.6% 92.0% 93.8% Other income
— -97.8%
0.1 3.6 0.0 Net profit
+11.6% -39.6%
8.9 14.8 8.0 PAT margin %
+548 bps -2619 bps
55.5% 81.7% 50.0% EPS (₹)
+6.3% -40.2%
0.67 1.12 0.63
Quality of profit
Pre-tax profit ₹12.8 Cr: core business ₹12.7 Cr, other income ₹0.1 Cr.
Core profit YoY: -2.1%
· reported profit +11.6%
Cash & debt
FY25 cash from operations ₹26.0 Cr:
72% of FY25 net profit of ₹36.2 Cr.
Borrowings ₹13.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹16.0 ₹16.1
+0.6% in line Net profit ₹12.4 ₹8.9
-28.0% below
M Cap ₹506 Cr
P/E 20.7
PEG —
Profit +91% above its own trend Operating margin expanded 410 bps YoY Core business grew faster than reported profit (core profit +183%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+24.4% +1.7%
137 135 110 Operating profit
+111.6% +78.4%
13.6 7.6 6.4 OPM %
+410 bps +428 bps
9.9% 5.7% 5.8% Other income
-80.3% -78.6%
0.9 4.2 4.6 Net profit?
+139.1% +32.5%
8.6 6.5 3.6 PAT margin %
+299 bps +145 bps
6.2% 4.8% 3.2% EPS (₹)
+138.7% +33.3%
1.48 1.11 0.62
Quality of profit
Pre-tax profit ₹12.1 Cr: core business ₹11.2 Cr, other income ₹0.9 Cr.
Core profit YoY: +183.0%
· reported profit +139.1%
Cash & debt
FY25 cash from operations ₹20.0 Cr:
105% of FY25 net profit of ₹19.1 Cr.
Borrowings ₹7.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹123 ₹137
+11.3% above Net profit ₹4.5 ₹8.6
+90.9% above
Into loss: a profit a year ago Profit -100% below its own trend Operating margin contracted 7421 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-99.8% -44.6%
1.5 2.7 701 Operating profit
to loss to loss -0.6 0.5 225 OPM %
-7421 bps -5977 bps
-42.2% 17.6% 32.0% Other income
-99.0% —
0.1 — 8.8 Net profit?
to loss to loss -0.6 0.5 221 PAT margin %
-7166 bps -5768 bps
-40.1% 17.6% 31.6% EPS (₹)
to loss to loss -0.17 0.03 1.10
Quality of profit
Pre-tax profit −₹0.6 Cr: core business −₹0.7 Cr, other income ₹0.1 Cr.
Core profit YoY: to loss
Against its own trend ?
Trend Actual Gap
Sales ₹1,403 ₹1.5
-99.9% below Net profit ₹443 −₹0.6
-100.1% below
Operating margin expanded 881 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+19.9% +22.6%
445 363 371 Operating profit
from loss -91.9%
8.0 98.5 -26.0 OPM %
+881 bps -2534 bps
1.8% 27.1% -7.0% Other income
-100.0% -100.0%
0.0 0.6 1.0 Net profit?
loss narrowed to loss -36.0 29.1 -87.0 PAT margin %
+1536 bps -1610 bps
-8.1% 8.0% -23.5% EPS (₹)
loss narrowed to loss -3.49 2.79 -8.36
Quality of profit
Pre-tax profit −₹51.0 Cr: core business −₹51.0 Cr, other income ₹0.0 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations ₹72.0 Cr.
Borrowings ₹1,902 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹355 ₹445
+25.4% above
M Cap ₹501 Cr
P/E 15.9
PEG —
Profit -19% below its own trend Operating margin contracted 198 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+5.8% -7.0%
129 139 122 Operating profit
-11.7% -17.7%
12.9 15.7 14.6 OPM %
-198 bps -130 bps
10.0% 11.3% 12.0% Other income
+60.5% -3.1%
2.2 2.3 1.4 Net profit?
-19.9% -18.0%
6.9 8.4 8.6 PAT margin %
-172 bps -72 bps
5.3% 6.1% 7.1% EPS (₹)
-21.8% -19.0%
1.15 1.42 1.47
Quality of profit
Pre-tax profit ₹10.5 Cr: core business ₹8.2 Cr, other income ₹2.2 Cr.
Core profit YoY: -17.9%
· reported profit -19.9%
Cash & debt
FY25 cash from operations ₹57.0 Cr:
151% of FY25 net profit of ₹37.7 Cr.
Borrowings ₹27.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹126 ₹129
+2.4% in line Net profit ₹8.5 ₹6.9
-19.0% below
M Cap ₹497 Cr
P/E 11.0
PEG 2.21
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+7.9% +17.0%
513 438 475 Operating profit
-21.9% +26.9%
10.2 8.0 13.0 OPM %
-76 bps +15 bps
2.0% 1.8% 2.7% Other income
— -86.5%
0.3 2.0 0.0 Net profit
-27.9% +1.0%
5.0 5.0 7.0 PAT margin %
-49 bps -16 bps
1.0% 1.1% 1.5% EPS (₹)
-26.3% +11.0%
2.02 1.82 2.74
Quality of profit
Pre-tax profit ₹7.3 Cr: core business ₹7.1 Cr, other income ₹0.3 Cr.
Core profit YoY: -21.3%
· reported profit -27.9%
Cash & debt
FY25 cash from operations −₹9.0 Cr.
Borrowings ₹51.0 Cr at Mar 2025.
M Cap ₹496 Cr
P/E 9.8
PEG 0.98
Profit +16% above its own trend Operating margin expanded 1082 bps YoY FY25 operating cash flow was only 32% of profit
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+21.7% -5.1%
27.2 28.6 22.4 Operating profit
+38.1% -4.8%
24.9 26.1 18.0 OPM %
+1082 bps +26 bps
91.4% 91.1% 80.5% Other income
-8.3% -26.7%
0.2 0.3 0.2 Net profit?
+42.0% -0.8%
19.6 19.8 13.8 PAT margin %
+1033 bps +310 bps
72.2% 69.1% 61.9% EPS (₹)
+41.0% -0.4%
18.37 18.44 13.03
Quality of profit
Pre-tax profit ₹24.4 Cr: core business ₹24.2 Cr, other income ₹0.2 Cr.
Core profit YoY: +39.3%
· reported profit +42.0%
Cash & debt
FY25 cash from operations ₹10.0 Cr:
32% of FY25 net profit of ₹31.3 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹24.7 ₹27.2
+10.0% above Net profit ₹16.9 ₹19.6
+16.0% above
M Cap ₹494 Cr
P/E 222.5
PEG —
Operating margin expanded 233 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-68.6% -14.5%
20.6 24.1 65.6 Operating profit
loss narrowed to loss -0.3 2.4 -2.4 OPM %
+233 bps -1133 bps
-1.3% 10.1% -3.6% Other income
-48.3% +14.1%
0.7 0.6 1.4 Net profit?
loss narrowed to loss -2.0 0.3 -23.7 PAT margin %
+2629 bps -1103 bps
-9.8% 1.2% -36.1% EPS (₹)
loss narrowed to loss -0.34 0.01 -4.04
Quality of profit
Pre-tax profit −₹2.2 Cr: core business −₹2.9 Cr, other income ₹0.7 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY25 cash from operations −₹82.6 Cr.
Borrowings ₹87.1 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹32.8 ₹20.6
-37.3% below
₹ Cr QoQ
Dec 2025 Sep 2025
Sales
+94.1%
145 74.7 Operating profit
loss narrowed -0.9 -9.7 OPM %
+1241 bps
-0.6% -13.0% Other income
-96.1%
0.2 4.4 Net profit
loss narrowed -16.5 -20.2 PAT margin %
+1567 bps
-11.4% -27.1% EPS (₹)
loss narrowed -1.28 -1.75
Quality of profit
Pre-tax profit −₹16.5 Cr: core business −₹16.7 Cr, other income ₹0.2 Cr.
M Cap ₹491 Cr
P/E 8.0
PEG 0.09
Profit +962% above its own trend
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Total income
+162.5% +55.6%
42.0 27.0 16.0 Net profit
+750.0% +112.5%
17.0 8.0 2.0 EPS (₹)
+700.0% +104.7%
0.88 0.43 0.11
Against its own trend ?
Trend Actual Gap
Total income ₹8.6 ₹42.0
+390.4% above Net profit ₹1.6 ₹17.0
+962.5% above
M Cap ₹490 Cr
P/E 19.8
PEG 9.88
Profit +99% above its own trend Operating margin expanded 109 bps YoY 34% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +105%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+9.6% +5.1%
350 333 319 Operating profit
+58.7% +292.3%
12.3 3.1 7.7 OPM %
+109 bps +257 bps
3.5% 0.9% 2.4% Other income
+53.0% +49.4%
5.0 3.4 3.3 Net profit
+82.4% +299.6%
10.9 2.7 6.0 PAT margin %
+125 bps +230 bps
3.1% 0.8% 1.9% EPS (₹)
+82.0% +301.5%
2.73 0.68 1.50
Quality of profit
Pre-tax profit ₹14.8 Cr: core business ₹9.8 Cr, other income ₹5.0 Cr.
Core profit YoY: +105.3%
· reported profit +82.4%
Cash & debt
FY25 cash from operations ₹37.0 Cr:
128% of FY25 net profit of ₹28.9 Cr.
Borrowings nil at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹331 ₹350
+5.6% above Net profit ₹5.5 ₹10.9
+98.8% above
Profit +521% above its own trend Operating margin contracted 6000 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
-66.7% -70.6%
5.0 17.0 15.0 Operating profit
loss narrowed to loss -5.0 2.0 -6.0 OPM %
-6000 bps -11176 bps
-100.0% 11.8% -40.0% Other income
+114.3% +114.3%
15.0 7.0 7.0 Net profit
+800.0% +50.0%
9.0 6.0 1.0 EPS (₹)
— +57.1%
0.33 0.21 0.02
Quality of profit
Pre-tax profit ₹9.0 Cr: core business −₹6.0 Cr, other income ₹15.0 Cr.
Core profit YoY: loss narrowed
· reported profit +800.0%
Cash & debt
FY25 cash from operations ₹110 Cr:
1222% of FY25 net profit of ₹9.0 Cr.
Borrowings ₹6.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹17.9 ₹5.0
-72.0% below Net profit ₹1.4 ₹9.0
+520.7% above
39% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -28%)
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
+0.8% -3.5%
186 193 184 Operating profit
-15.5% -11.0%
9.7 10.9 11.4 OPM %
-100 bps -44 bps
5.2% 5.6% 6.2% Other income
+69.2% -4.5%
3.4 3.5 2.0 Net profit?
-3.7% -13.0%
6.5 7.4 6.7 PAT margin %
-16 bps -38 bps
3.5% 3.9% 3.6% EPS (₹)
-3.5% —
2.49 — 2.58
Quality of profit
Pre-tax profit ₹8.6 Cr: core business ₹5.2 Cr, other income ₹3.4 Cr.
Core profit YoY: -27.8%
· reported profit -3.7%
Against its own trend ?
Trend Actual Gap
Sales ₹174 ₹186
+6.8% above Net profit ₹6.8 ₹6.5
-5.2% in line
Into loss: a profit a year ago Profit -254% below its own trend Operating margin contracted 1630 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-26.0% -19.2%
61.9 76.6 83.6 Operating profit
to loss to loss -1.3 5.5 11.9 OPM %
-1630 bps -919 bps
-2.1% 7.1% 14.2% Other income
-27.0% +5.8%
1.9 1.8 2.5 Net profit?
to loss loss widened -4.5 -2.0 1.9 PAT margin %
-945 bps -457 bps
-7.2% -2.6% 2.3% EPS (₹)
to loss loss widened -3.10 -1.40 1.32
Quality of profit
Pre-tax profit −₹1.4 Cr: core business −₹10.7 Cr, other income ₹1.9 Cr, exceptional & other items ₹7.5 Cr.
Core profit YoY: to loss
Cash & debt
FY25 cash from operations ₹40.0 Cr.
Borrowings ₹84.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹87.4 ₹61.9
-29.2% below Net profit ₹2.9 −₹4.5
-253.6% below
M Cap ₹484 Cr
P/E 7.0
PEG 0.23
Operating margin contracted 1279 bps YoY
₹ Cr YoY QoQ
Dec 2025 Sep 2025 Dec 2024
Sales
-1.2% +100.5%
99.0 49.3 100 Operating profit
loss widened loss narrowed -31.6 -60.1 -19.2 OPM %
-1279 bps —
-32.0% — -19.2% Other income
+376.6% +203.4%
7.4 2.4 1.6 Net profit?
loss widened loss narrowed -28.7 -53.6 -25.6 PAT margin %
-347 bps —
-29.0% — -25.5% EPS (₹)
loss widened loss narrowed -7.90 -14.96 -6.99
Quality of profit
Pre-tax profit −₹40.4 Cr: core business −₹46.1 Cr, other income ₹7.4 Cr, exceptional & other items −₹1.7 Cr.
Core profit YoY: loss widened
Cash & debt
FY25 cash from operations ₹100 Cr:
166% of FY25 net profit of ₹60.2 Cr.
Borrowings ₹108 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹120 ₹99.0
-17.3% 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 14 Oct 2026, 08:56 IST
