Flash Finance

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.

Updated 13 Oct 2026, 17:12 IST 4316 declared
The next results season has started: 38 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

Latest Q3 FY26 results 4316

Page 8 of 144

Godrej Properties Limited

GODREJPROP · Construction & Infrastructure · Q3 FY26 · Consolidated
M Cap
₹46,524 Cr
P/E
29.2
PEG
0.51
  • Operating margin contracted 4046 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
₹ CrYoYQoQ Dec 2025Sep 2025Dec 2024
Sales -48.6%-32.7% 498740969
Operating profit to lossloss narrowed -197-5969.0
OPM % -4046 bps+4097 bps -39.5%-80.5%0.9%
Other income +89.7%-57.5% 5141,210271
Net profit? +22.8%-51.9% 194403158
PAT margin % +2262 bps-1550 bps 38.9%54.4%16.3%
EPS (₹) +20.0%-51.8% 6.4813.455.40

Quality of profit

Pre-tax profit ₹255 Cr: core business −₹260 Cr, other income ₹514 Cr, exceptional & other items ₹0.7 Cr.

Core profit YoY: loss widened · reported profit +22.8%

Cash & debt

FY25 cash from operations −₹2,242 Cr: -161% of FY25 net profit of ₹1,389 Cr.

Borrowings ₹12,641 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹1,049₹498 -52.5% below
Net profit₹186₹194 +4.1% in line
📊 Investor presentation (04 Aug) Detailed financials →

Sundaram Finance Limited

SUNDARMFIN · NBFC & Finance Companies · Q3 FY26 · Consolidated
M Cap
₹46,093 Cr
P/E
20.8
PEG
1.22
₹ CrYoYQoQ Dec 2025Sep 2025Dec 2024
Total income +14.6%+5.4% 2,5302,4012,207
Net interest income —+8.3% 913843—
Other income —+6.9% 408381—
Operating profit (pre-provision) +23.2%+11.4% 865777702
Provisions +14.7%-8.2% 116127101
Net profit? +18.9%+10.9% 541488455
EPS (₹) +18.8%+10.9% 49.1244.2941.33
Cost-to-income % -285 bps-210 bps 34.5%36.6%37.3%
Gross NPA % +23 bps+66 bps 2.7%2.0%2.5%
Net NPA % +11 bps+60 bps 1.7%1.1%1.6%

Where profit came from

Pre-provision profit ₹865 Cr (+23.2% YoY); provisions ₹116 Cr (+14.7% YoY).

Net profit +18.9% YoY.

Against its own trend ?

TrendActualGap
Net profit₹504₹541 +7.5% in line
Detailed financials →

Hindustan Copper Limited

HINDCOPPER · Mining & Minerals · Q3 FY26 · Consolidated
M Cap
₹45,445 Cr
P/E
40.0
PEG
0.80
  • Profit +83% above its own trend
  • Operating margin expanded 276 bps YoY
  • Core business grew faster than reported profit (core profit +183%)
₹ CrYoYQoQ Dec 2025Sep 2025Dec 2024
Sales +109.7%-4.3% 687718328
Operating profit +127.3%-13.3% 245282108
OPM % +276 bps-370 bps 35.6%39.3%32.8%
Other income +13.7%+63.4% 18.011.015.8
Net profit? +148.5%-15.1% 15618462.9
PAT margin % +355 bps-290 bps 22.7%25.6%19.2%
EPS (₹) +149.2%-14.7% 1.621.900.65

Quality of profit

Core 92%Other income & one-offs 8%

Pre-tax profit ₹213 Cr: core business ₹195 Cr, other income ₹18.0 Cr.

Core profit YoY: +183.5% · reported profit +148.5%

Cash & debt

FY25 cash from operations ₹544 Cr: 116% of FY25 net profit of ₹467 Cr.

Borrowings ₹167 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹383₹687 +79.3% above
Net profit₹85.3₹156 +83.1% above
Detailed financials →

Vishal Mega Mart Limited

VMM · Trading & Distribution · Q3 FY26 · Consolidated
M Cap
₹45,115 Cr
P/E
12.2
PEG
0.31
  • Profit +739% above its own trend
₹ CrYoYQoQ Dec 2025Sep 2025Dec 2024
Sales —— 36,7042,9813,136
Operating profit —— 6,051395505
OPM % +38 bps+325 bps 16.5%13.2%16.1%
Other income —— 24620.219.0
Net profit? —— 3,129152263
PAT margin % +15 bps+342 bps 8.5%5.1%8.4%
EPS (₹) +15.5%+103.0% 0.670.330.58

Quality of profit

Core 94%Other income & one-offs 6%

Pre-tax profit ₹4,194 Cr: core business ₹3,948 Cr, other income ₹246 Cr.

Cash & debt

FY25 cash from operations ₹1,399 Cr: 221% of FY25 net profit of ₹632 Cr.

Borrowings ₹1,729 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹3,816₹36,704 +861.9% above
Net profit₹373₹3,129 +739.3% above
📊 Investor presentation (23 Jul) Detailed financials →

MphasiS Limited

MPHASIS · IT Services & Software · Q3 FY26 · Consolidated
M Cap
₹44,909 Cr
P/E
23.5
PEG
4.70
₹ CrYoYQoQ Dec 2025Sep 2025Dec 2024
Sales +12.4%+2.6% 4,0033,9023,561
Operating profit +10.6%+3.9% 750722678
OPM % -30 bps+23 bps 18.7%18.5%19.0%
Other income -57.1%-64.0% 27.075.063.0
Net profit? +3.3%-5.8% 442469428
PAT margin % -98 bps-98 bps 11.0%12.0%12.0%
EPS (₹) +2.9%-5.8% 23.2124.6522.56

Quality of profit

Core 95%Other income & one-offs 5%

Pre-tax profit ₹593 Cr: core business ₹566 Cr, other income ₹27.0 Cr.

Core profit YoY: +11.6% · reported profit +3.3%

Cash & debt

FY25 cash from operations ₹1,905 Cr: 112% of FY25 net profit of ₹1,702 Cr.

Borrowings ₹1,116 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹3,878₹4,003 +3.2% in line
Net profit₹480₹442 -7.9% in line
📊 Investor presentation (24 Jul) Detailed financials →

Max Financial Services Limited

MFSL · NBFC & Finance Companies · Q3 FY26 · Consolidated
M Cap
₹44,852 Cr
P/E
326.7
PEG
—
  • Profit +29% above its own trend
₹ CrYoYQoQ Dec 2025Sep 2025Dec 2024
Sales +59.8%+45.6% 14,2599,7928,923
Operating profit -12.4%+271.4% 78.021.089.0
OPM % -45 bps+33 bps 0.5%0.2%1.0%
Other income +200.0%+28.6% 9.07.03.0
Net profit? -35.7%+650.0% 45.06.070.0
PAT margin % -47 bps+25 bps 0.3%0.1%0.8%
EPS (₹) -34.6%+783.3% 1.060.121.62

Quality of profit

Core 82%Other income & one-offs 18%

Pre-tax profit ₹50.0 Cr: core business ₹41.0 Cr, other income ₹9.0 Cr.

Core profit YoY: -47.4% · reported profit -35.7%

Cash & debt

FY25 cash from operations ₹8,352 Cr: 2072% of FY25 net profit of ₹403 Cr.

Borrowings ₹1,026 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹6,976₹14,259 +104.4% above
Net profit₹35.0₹45.0 +28.6% above
📊 Investor presentation (13 Aug) Detailed financials →

Mahindra & Mahindra Financial Services Limited

M&MFIN · NBFC & Finance Companies · Q3 FY26 · Consolidated
M Cap
₹44,801 Cr
P/E
13.7
PEG
1.15
  • Profit -28% below its own trend
  • Provisions up 397% YoY
₹ CrYoYQoQ Dec 2025Sep 2025Dec 2024
Total income +13.9%+8.2% 5,4645,0494,799
Net interest income +18.4%+8.5% 2,4742,2792,090
Other income +41.2%+31.7% 755573534
Operating profit (pre-provision) +29.2%+12.2% 1,6961,5111,313
Provisions +396.7%-38.0% 47676895.9
Net profit? -10.0%+45.8% 826566918
EPS (₹) -20.2%+46.1% 5.934.067.43
Cost-to-income % -250 bps+46 bps 47.5%47.0%50.0%
Gross NPA % -13 bps-14 bps 3.8%3.9%3.9%
Net NPA % -18 bps-7 bps 1.8%1.9%2.0%

Where profit came from

Pre-provision profit ₹1,696 Cr (+29.2% YoY); provisions ₹476 Cr (+396.7% YoY).

Net profit -10.0% YoY.

Against its own trend ?

TrendActualGap
NII₹2,318₹2,474 +6.7% above
Net profit₹1,154₹826 -28.5% below
📊 Investor presentation (21 Jul) Detailed financials →

KEI Industries Limited

KEI · Cables & Wires · Q3 FY26 · Standalone
M Cap
₹44,494 Cr
P/E
44.7
PEG
1.86
  • Operating margin expanded 107 bps YoY
  • Operating cash flow was negative in FY25 despite a profit
₹ CrYoYQoQ Dec 2025Sep 2025Dec 2024
Sales +19.8%+8.4% 2,9552,7262,467
Operating profit +32.9%+18.8% 320269241
OPM % +107 bps+95 bps 10.8%9.9%9.8%
Other income +148.5%-20.1% 33.842.313.6
Net profit +42.5%+15.4% 235204165
PAT margin % +127 bps+48 bps 7.9%7.5%6.7%
EPS (₹) +37.5%+15.4% 24.5721.3017.87

Quality of profit

Core 89%Other income & one-offs 11%

Pre-tax profit ₹315 Cr: core business ₹281 Cr, other income ₹33.8 Cr.

Core profit YoY: +35.3% · reported profit +42.5%

Cash & debt

FY25 cash from operations −₹32.0 Cr: -5% of FY25 net profit of ₹696 Cr.

Borrowings ₹217 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹3,027₹2,955 -2.4% in line
Net profit₹216₹235 +8.9% in line
📊 Investor presentation (07 Aug) Detailed financials →

Supreme Industries Limited

SUPREMEIND · Plastic Products · Q3 FY26 · Consolidated
M Cap
₹44,400 Cr
P/E
43.0
PEG
14.33
₹ CrYoYQoQ Dec 2025Sep 2025Dec 2024
Sales +7.1%+12.2% 2,6872,3942,510
Operating profit +1.6%+5.5% 314297309
OPM % -63 bps-74 bps 11.7%12.4%12.3%
Other income -87.8%-87.6% 3.830.430.9
Net profit? -18.0%-6.9% 153165187
PAT margin % -174 bps-117 bps 5.7%6.9%7.4%
EPS (₹) -18.0%-6.9% 12.0712.9714.72

Quality of profit

Core 94%Other income & one-offs 6%

Pre-tax profit ₹206 Cr: core business ₹193 Cr, other income ₹3.8 Cr, exceptional & other items ₹9.4 Cr.

Core profit YoY: -10.1% · reported profit -18.0%

Cash & debt

FY25 cash from operations ₹1,004 Cr: 104% of FY25 net profit of ₹961 Cr.

Borrowings ₹76.0 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹2,549₹2,687 +5.4% above
Net profit₹144₹153 +6.8% in line
Detailed financials →

Navin Fluorine International Limited

NAVINFLUOR · Chemicals · Q3 FY26 · Consolidated
M Cap
₹43,925 Cr
P/E
55.6
PEG
2.53
  • Profit +22% above its own trend
  • Operating margin expanded 1017 bps YoY
  • Exceptional items of ₹-20.5 Cr in the quarter
  • Core business grew faster than reported profit (core profit +149%)
₹ CrYoYQoQ Dec 2025Sep 2025Dec 2024
Sales +47.2%+17.7% 892758606
Operating profit +108.8%+24.9% 308246147
OPM % +1017 bps+201 bps 34.5%32.5%24.3%
Other income +48.7%-14.4% 15.618.210.5
Net profit? +121.8%+25.0% 18514883.6
PAT margin % +699 bps+121 bps 20.8%19.6%13.8%
EPS (₹) +114.6%+24.5% 36.1829.0616.86

Quality of profit

Pre-tax profit ₹238 Cr: core business ₹243 Cr, other income ₹15.6 Cr, exceptional & other items −₹20.5 Cr.

Core profit YoY: +149.3% · reported profit +121.8%

Cash & debt

FY25 cash from operations ₹571 Cr: 198% of FY25 net profit of ₹289 Cr.

Borrowings ₹1,466 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹786₹892 +13.5% above
Net profit₹152₹185 +21.7% above
📊 Investor presentation (05 Aug) Detailed financials →

360 ONE WAM LIMITED

360ONE · NBFC & Finance Companies · Q3 FY26 · Consolidated
M Cap
₹43,594 Cr
P/E
—
PEG
—
₹ CrYoYQoQ Dec 2025Sep 2025Dec 2024
Total income +30.6%+10.2% 1,2201,108934
Net interest income +55.6%+22.9% 61.249.939.4
Other income +28.2%+7.3% 863804673
Operating profit (pre-provision) +18.5%+2.3% 430420363
Provisions -33.1%-61.0% 2.56.43.7
Net profit? +18.4%+3.7% 327315276
EPS (₹) +11.3%+3.6% 8.087.807.26
Cost-to-income % +442 bps+269 bps 53.5%50.8%49.1%

Where profit came from

Pre-provision profit ₹430 Cr (+18.5% YoY); provisions ₹2.5 Cr (-33.1% YoY).

Net profit +18.4% YoY.

Against its own trend ?

TrendActualGap
NII₹64.1₹61.2 -4.4% in line
Net profit₹355₹327 -7.9% in line
📊 Investor presentation (16 Jul) Detailed financials →

Petronet LNG Limited

PETRONET · Miscellaneous · Q3 FY26 · Consolidated
M Cap
₹43,575 Cr
P/E
10.4
PEG
1.74
  • Profit +15% above its own trend
₹ CrYoYQoQ Dec 2025Sep 2025Dec 2024
Sales -8.7%+1.4% 11,16411,00912,227
Operating profit -3.9%+7.2% 1,1981,1171,247
OPM % +53 bps+58 bps 10.7%10.1%10.2%
Other income +9.2%-9.8% 214237196
Net profit? -3.5%+8.0% 870806902
PAT margin % +42 bps+47 bps 7.8%7.3%7.4%
EPS (₹) -3.5%+8.0% 5.805.376.01

Quality of profit

Core 81%Other income & one-offs 19%

Pre-tax profit ₹1,141 Cr: core business ₹927 Cr, other income ₹214 Cr.

Core profit YoY: -4.6% · reported profit -3.5%

Cash & debt

FY25 cash from operations ₹4,398 Cr: 111% of FY25 net profit of ₹3,946 Cr.

Borrowings ₹2,657 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹10,582₹11,164 +5.5% above
Net profit₹759₹870 +14.6% above
Detailed financials →

UPL Limited

UPL · Pesticides & Agrochemicals · Q3 FY26 · Standalone
M Cap
₹43,519 Cr
P/E
22.3
PEG
—
  • Profit -94% below its own trend
  • Operating margin contracted 555 bps YoY
  • 71% of pre-tax profit came from other income and one-off items
  • Operating cash flow was negative in FY25 despite a profit
₹ CrYoYQoQ Dec 2025Sep 2025Dec 2024
Sales +58.5%+49.6% 2,2621,5121,427
Operating profit -33.8%-17.4% 90.0109136
OPM % -555 bps-323 bps 4.0%7.2%9.5%
Other income —-81.3% 60.03215.0
Net profit -88.1%-56.6% 118272992
PAT margin % -6430 bps-1277 bps 5.2%18.0%69.5%
EPS (₹) -97.1%-88.6% 0.383.3213.05

Quality of profit

Core 29%Other income & one-offs 71%

Pre-tax profit ₹90.0 Cr: core business ₹26.0 Cr, other income ₹60.0 Cr, exceptional & other items ₹4.0 Cr.

Core profit YoY: -36.6% · reported profit -88.1%

Cash & debt

FY25 cash from operations −₹923 Cr: -31% of FY25 net profit of ₹2,939 Cr.

Borrowings ₹597 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹2,139₹2,262 +5.7% above
Net profit₹1,984₹118 -94.1% below
📊 Investor presentation (03 Aug) Detailed financials →

GlaxoSmithKline Pharmaceuticals Limited

GLAXO · Pharmaceuticals · Q3 FY26 · Consolidated
M Cap
₹42,885 Cr
P/E
40.2
PEG
2.23
  • Operating margin expanded 492 bps YoY
₹ CrYoYQoQ Dec 2025Sep 2025Dec 2024
Sales +9.7%+6.3% 1,041980949
Operating profit +27.2%-37.7% 371596292
OPM % +492 bps-2513 bps 35.7%60.8%30.7%
Other income -8.4%-53.1% 32.168.535.1
Net profit? +28.6%+15.0% 296257230
PAT margin % +418 bps+217 bps 28.4%26.2%24.2%
EPS (₹) +28.6%+14.8% 17.4515.2013.57

Quality of profit

Core 88%Other income & one-offs 12%

Pre-tax profit ₹400 Cr: core business ₹350 Cr, other income ₹32.1 Cr, exceptional & other items ₹18.0 Cr.

Core profit YoY: +28.1% · reported profit +28.6%

Cash & debt

FY25 cash from operations ₹1,290 Cr: 139% of FY25 net profit of ₹928 Cr.

Borrowings ₹10.0 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹967₹1,041 +7.7% above
Net profit₹285₹296 +3.9% in line
📊 Investor presentation (03 Aug) Detailed financials →

Tube Investments of India Limited

TIINDIA · Iron & Steel · Q3 FY26 · Consolidated
M Cap
₹42,857 Cr
P/E
38.6
PEG
—
  • Profit +29% above its own trend
  • Exceptional items of ₹-57.0 Cr in the quarter
₹ CrYoYQoQ Dec 2025Sep 2025Dec 2024
Sales +20.5%+5.0% 5,8015,5234,812
Operating profit +19.2%+7.5% 585544491
OPM % -12 bps+23 bps 10.1%9.9%10.2%
Other income -36.7%-47.3% 49.093.077.4
Net profit? -0.4%-7.6% 279302280
PAT margin % -101 bps-66 bps 4.8%5.5%5.8%
EPS (₹) -14.4%-11.2% 8.579.6510.01

Quality of profit

Core 89%Other income & one-offs 11%

Pre-tax profit ₹445 Cr: core business ₹397 Cr, other income ₹49.0 Cr, exceptional & other items −₹1.4 Cr.

Core profit YoY: +13.7% · reported profit -0.4%

Cash & debt

FY25 cash from operations ₹1,213 Cr: 115% of FY25 net profit of ₹1,051 Cr.

Borrowings ₹703 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹5,519₹5,801 +5.1% above
Net profit₹217₹279 +28.5% above
Detailed financials →

Ajanta Pharma Limited

AJANTPHARM · Pharmaceuticals · Q3 FY26 · Consolidated
M Cap
₹42,479 Cr
P/E
37.4
PEG
1.78
₹ CrYoYQoQ Dec 2025Sep 2025Dec 2024
Sales +20.0%+1.6% 1,3751,3541,146
Operating profit +19.1%+16.6% 382328321
OPM % -19 bps+359 bps 27.8%24.2%28.0%
Other income -18.0%-57.9% 25.059.330.4
Net profit? +17.6%+5.2% 274260233
PAT margin % -41 bps+69 bps 19.9%19.2%20.3%
EPS (₹) +17.8%+5.2% 21.9120.8318.60

Quality of profit

Core 93%Other income & one-offs 7%

Pre-tax profit ₹359 Cr: core business ₹334 Cr, other income ₹25.0 Cr.

Core profit YoY: +20.5% · reported profit +17.6%

Cash & debt

FY25 cash from operations ₹1,157 Cr: 126% of FY25 net profit of ₹920 Cr.

Borrowings ₹47.0 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹1,288₹1,375 +6.7% above
Net profit₹258₹274 +5.9% in line
Detailed financials →

Page Industries Limited

PAGEIND · Textiles · Q3 FY26 · Standalone
M Cap
₹41,163 Cr
P/E
54.4
PEG
4.94
  • Profit -28% below its own trend
₹ CrYoYQoQ Dec 2025Sep 2025Dec 2024
Sales +5.6%+7.4% 1,3871,2911,313
Operating profit +5.0%+13.6% 318280303
OPM % -15 bps+124 bps 22.9%21.7%23.1%
Other income to lossto loss -23.019.014.0
Net profit -7.3%-2.6% 190195205
PAT margin % -191 bps-141 bps 13.7%15.1%15.6%
EPS (₹) -7.4%-2.7% 169.93174.61183.49

Quality of profit

Pre-tax profit ₹256 Cr: core business ₹278 Cr, other income −₹23.0 Cr, exceptional & other items ₹1.0 Cr.

Core profit YoY: +6.5% · reported profit -7.3%

Cash & debt

FY25 cash from operations ₹1,204 Cr: 165% of FY25 net profit of ₹729 Cr.

Borrowings ₹262 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹1,383₹1,387 +0.3% in line
Net profit₹263₹190 -27.8% below
Detailed financials →

Premier Energies Limited

PREMIERENE · Electrical Equipment · Q3 FY26 · Consolidated
M Cap
₹41,030 Cr
P/E
24.5
PEG
0.07
  • Profit -23% below its own trend
₹ CrYoYQoQ Dec 2025Sep 2025Dec 2024
Sales +13.0%+5.4% 1,9361,8371,713
Operating profit +15.5%+5.8% 593561514
OPM % +66 bps+10 bps 30.6%30.5%30.0%
Other income -17.8%-64.9% 29.784.536.1
Net profit? +53.4%+10.8% 392353255
PAT margin % +533 bps+98 bps 20.2%19.2%14.9%
EPS (₹) +54.1%+10.5% 8.727.895.66

Quality of profit

Core 94%Other income & one-offs 6%

Pre-tax profit ₹505 Cr: core business ₹476 Cr, other income ₹29.7 Cr.

Core profit YoY: +51.1% · reported profit +53.4%

Cash & debt

FY25 cash from operations ₹1,348 Cr: 144% of FY25 net profit of ₹937 Cr.

Borrowings ₹1,954 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹2,263₹1,936 -14.4% below
Net profit₹510₹392 -23.3% below
📊 Investor presentation (06 Aug) Detailed financials →

Embassy Office Parks REIT

EMBASSY · Construction & Infrastructure · Q3 FY26 · Consolidated
M Cap
₹40,848 Cr
P/E
108.0
PEG
—
  • Profit +251% above its own trend
  • Operating margin expanded 221 bps YoY
  • 47% of pre-tax profit came from other income and one-off items
  • Profit grew faster than the core business (core profit +110%)
₹ CrYoYQoQ Dec 2025Sep 2025Dec 2024
Sales +16.7%+6.1% 1,1931,1241,022
Operating profit +20.2%+5.6% 917868763
OPM % +221 bps-36 bps 76.9%77.2%74.7%
Other income +293.1%+256.2% 22864.058.0
Net profit? +141.1%+64.2% 381232158
PAT margin % +1648 bps+1130 bps 31.9%20.6%15.5%
EPS (₹) +140.7%+64.1% 4.022.451.67

Quality of profit

Core 53%Other income & one-offs 47%

Pre-tax profit ₹489 Cr: core business ₹261 Cr, other income ₹228 Cr.

Core profit YoY: +110.5% · reported profit +141.1%

Cash & debt

FY25 cash from operations ₹3,079 Cr: 190% of FY25 net profit of ₹1,624 Cr.

Borrowings ₹19,957 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹1,142₹1,193 +4.5% in line
Net profit₹109₹381 +251.0% above
Detailed financials →

Physicswallah Limited

PWL · Education & E-Learning · Q3 FY26 · Consolidated
M Cap
₹40,688 Cr
P/E
2715.6
PEG
—
  • 29% of pre-tax profit came from other income and one-off items
  • Exceptional items of ₹-23.6 Cr in the quarter
₹ CrQoQ Dec 2025Sep 2025
Sales +3.0% 1,0821,051
Operating profit +30.5% 236181
OPM % +461 bps 21.8%17.2%
Other income +36.8% 64.547.2
Net profit? +46.7% 10269.7
PAT margin % +282 bps 9.4%6.6%
EPS (₹) +32.1% 0.370.28

Quality of profit

Core 71%Other income & one-offs 29%

Pre-tax profit ₹144 Cr: core business ₹103 Cr, other income ₹64.5 Cr, exceptional & other items −₹23.4 Cr.

Detailed financials →

HFCL Limited

HFCL · Construction & Infrastructure · Q3 FY26 · Consolidated
M Cap
₹40,625 Cr
P/E
67.3
PEG
67.27
  • Profit +52% above its own trend
  • Operating margin expanded 383 bps YoY
₹ CrYoYQoQ Dec 2025Sep 2025Dec 2024
Sales +19.6%+16.0% 1,2111,0431,012
Operating profit +50.2%+19.8% 228190152
OPM % +383 bps+60 bps 18.8%18.2%15.0%
Other income -23.1%+20.1% 15.412.820.0
Net profit? +41.0%+42.3% 10271.972.6
PAT margin % +128 bps+156 bps 8.5%6.9%7.2%
EPS (₹) +31.4%+42.6% 0.670.470.51

Quality of profit

Core 88%Other income & one-offs 12%

Pre-tax profit ₹138 Cr: core business ₹122 Cr, other income ₹15.4 Cr, exceptional & other items ₹1.1 Cr.

Core profit YoY: +52.8% · reported profit +41.0%

Cash & debt

FY25 cash from operations ₹396 Cr: 228% of FY25 net profit of ₹174 Cr.

Borrowings ₹1,522 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹863₹1,211 +40.3% above
Net profit₹67.5₹102 +51.6% above
📊 Investor presentation (22 Jul) Detailed financials →

Rail Vikas Nigam Limited

RVNL · Construction & Infrastructure · Q3 FY26 · Consolidated
M Cap
₹40,187 Cr
P/E
44.8
PEG
—
  • Profit +24% above its own trend
  • 74% of pre-tax profit came from other income and one-off items
₹ CrYoYQoQ Dec 2025Sep 2025Dec 2024
Sales +2.6%-8.6% 4,6845,1234,567
Operating profit -7.8%+1.8% 221217239
OPM % -53 bps+48 bps 4.7%4.2%5.2%
Other income -5.4%+31.4% 308234326
Net profit? +4.0%+40.6% 324231312
PAT margin % +10 bps+242 bps 6.9%4.5%6.8%
EPS (₹) +4.0%+40.9% 1.551.101.49

Quality of profit

Core 26%Other income & one-offs 74%

Pre-tax profit ₹415 Cr: core business ₹107 Cr, other income ₹308 Cr.

Core profit YoY: +22.6% · reported profit +4.0%

Cash & debt

FY25 cash from operations ₹1,878 Cr: 147% of FY25 net profit of ₹1,282 Cr.

Borrowings ₹5,419 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹4,415₹4,684 +6.1% above
Net profit₹261₹324 +24.4% above
Detailed financials →

Bharat Dynamics Limited

BDL · Engineering & Capital Goods · Q3 FY26 · Standalone
M Cap
₹39,919 Cr
P/E
76.7
PEG
12.78
  • Profit -65% below its own trend
  • Operating margin contracted 1066 bps YoY
  • 94% of pre-tax profit came from other income and one-off items
  • Profit grew faster than the core business (core profit -94%)
  • FY25 operating cash flow was only 30% of profit
₹ CrYoYQoQ Dec 2025Sep 2025Dec 2024
Sales -31.9%-50.6% 5671,147832
Operating profit -79.5%-86.1% 26.0188127
OPM % -1066 bps-1176 bps 4.6%16.3%15.2%
Other income +15.1%-19.4% 97.212184.4
Net profit -50.4%-66.2% 72.9216147
PAT margin % -481 bps-595 bps 12.9%18.8%17.7%
EPS (₹) -50.4%-66.2% 1.995.894.01

Quality of profit

Core 6%Other income & one-offs 94%

Pre-tax profit ₹103 Cr: core business ₹6.0 Cr, other income ₹97.2 Cr.

Core profit YoY: -94.5% · reported profit -50.4%

Cash & debt

FY25 cash from operations ₹167 Cr: 30% of FY25 net profit of ₹550 Cr.

Borrowings ₹7.0 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹1,441₹567 -60.7% below
Net profit₹210₹72.9 -65.2% below
📊 Investor presentation (10 Jun) Detailed financials →

Poonawalla Fincorp Limited

POONAWALLA · NBFC & Finance Companies · Q3 FY26 · Standalone
M Cap
₹39,335 Cr
P/E
36.2
PEG
7.23
  • Profit +999% above its own trend
  • Gross NPA down 34 bps YoY
₹ CrYoYQoQ Dec 2025Sep 2025Dec 2024
Total income +72.0%+17.9% 1,8181,5431,057
Net interest income —+20.5% 921764—
Other income —+13.0% 159141—
Operating profit (pre-provision) —+39.0% 496357—
Provisions —+14.7% 295258—
Net profit +690.6%+102.5% 15074.219.0
EPS (₹) +675.0%+95.8% 1.860.950.24
Cost-to-income % —-651 bps 54.1%60.6%—
Gross NPA % -34 bps-8 bps 1.5%1.6%1.9%
Net NPA % -1 bps-1 bps 0.8%0.8%0.8%

Where profit came from

Pre-provision profit ₹496 Cr; provisions ₹295 Cr.

Net profit +690.6% YoY.

Against its own trend ?

TrendActualGap
Net profit₹9.5₹150 +999.0% above
📊 Investor presentation (09 Oct) Detailed financials →

Patanjali Foods Limited

PATANJALI · Edible Oils · Q3 FY26 · Consolidated
M Cap
₹39,311 Cr
P/E
21.7
PEG
—
  • Profit +35% above its own trend
  • Operating margin contracted 180 bps YoY
  • FY25 operating cash flow was only 15% of profit
₹ CrYoYQoQ Dec 2025Sep 2025Dec 2024
Sales +15.2%+7.0% 10,4849,7999,103
Operating profit -19.7%-21.4% 434552541
OPM % -180 bps-149 bps 4.1%5.6%5.9%
Other income -33.6%-47.3% 27.051.240.7
Net profit? +59.9%+14.8% 593517371
PAT margin % +158 bps+38 bps 5.7%5.3%4.1%
EPS (₹) +59.8%+14.9% 5.464.75adj. 3.42

EPS restated for the 2:1 bonus of Sep 2025: Dec 2024 ₹10.25 to ₹3.42.

Quality of profit

Core 93%Other income & one-offs 7%

Pre-tax profit ₹364 Cr: core business ₹337 Cr, other income ₹27.0 Cr.

Core profit YoY: -25.2% · reported profit +59.9%

Cash & debt

FY25 cash from operations ₹197 Cr: 15% of FY25 net profit of ₹1,301 Cr.

Borrowings ₹788 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹11,117₹10,484 -5.7% below
Net profit₹438₹593 +35.4% above
Detailed financials →

Balkrishna Industries Limited

BALKRISIND · Tyres & Rubber · Q3 FY26 · Consolidated
M Cap
₹38,602 Cr
P/E
27.5
PEG
3.43
  • Profit +10% above its own trend
₹ CrYoYQoQ Dec 2025Sep 2025Dec 2024
Sales +6.9%+14.3% 2,7372,3932,560
Operating profit +7.1%+25.8% 643511601
OPM % +3 bps+214 bps 23.5%21.4%23.5%
Other income -58.7%+8.7% 77.471.2187
Net profit? -15.0%+39.9% 382273449
PAT margin % -359 bps+255 bps 14.0%11.4%17.6%
EPS (₹) -15.0%+39.9% 19.7714.1323.25

Quality of profit

Core 84%Other income & one-offs 16%

Pre-tax profit ₹491 Cr: core business ₹414 Cr, other income ₹77.4 Cr.

Core profit YoY: +0.3% · reported profit -15.0%

Cash & debt

FY25 cash from operations ₹1,764 Cr: 107% of FY25 net profit of ₹1,655 Cr.

Borrowings ₹3,267 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹2,615₹2,737 +4.6% in line
Net profit₹347₹382 +10.0% above
Detailed financials →

PTC Industries Limited

PTCIL · Castings & Forgings · Q3 FY26 · Consolidated
M Cap
₹38,553 Cr
P/E
307.6
PEG
5.30
  • Operating margin contracted 678 bps YoY
  • 43% of pre-tax profit came from other income and one-off items
  • FY25 operating cash flow was only 23% of profit
₹ CrYoYQoQ Dec 2025Sep 2025Dec 2024
Sales +133.1%+25.2% 15612566.9
Operating profit +63.8%-2.8% 25.025.715.3
OPM % -678 bps-462 bps 16.0%20.6%22.8%
Other income -1.8%+22.0% 10.08.210.2
Net profit? +26.4%-0.8% 18.018.114.2
PAT margin % -975 bps-302 bps 11.5%14.6%21.3%
EPS (₹) +28.7%+1.2% 12.2412.109.51

Quality of profit

Core 56%Other income & one-offs 44%

Pre-tax profit ₹23.0 Cr: core business ₹13.0 Cr, other income ₹10.0 Cr.

Core profit YoY: +46.3% · reported profit +26.4%

Cash & debt

FY25 cash from operations ₹14.0 Cr: 23% of FY25 net profit of ₹61.0 Cr.

Borrowings ₹61.0 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹114₹156 +36.5% above
Net profit₹19.2₹18.0 -6.1% in line
Detailed financials →

Astral Limited

ASTRAL · Plastic Products · Q3 FY26 · Consolidated
M Cap
₹38,428 Cr
P/E
66.7
PEG
9.54
  • Exceptional items of ₹16.5 Cr in the quarter
₹ CrYoYQoQ Dec 2025Sep 2025Dec 2024
Sales +10.3%-2.3% 1,5421,5771,397
Operating profit +8.4%-7.6% 237257219
OPM % -28 bps-89 bps 15.4%16.3%15.7%
Other income -20.8%-16.7% 9.511.412.0
Net profit? -4.7%-20.1% 108135113
PAT margin % -110 bps-156 bps 7.0%8.5%8.1%
EPS (₹) -5.6%-20.1% 4.015.024.25

Quality of profit

Pre-tax profit ₹144 Cr: core business ₹151 Cr, other income ₹9.5 Cr, exceptional & other items −₹16.5 Cr.

Core profit YoY: +6.5% · reported profit -4.7%

Cash & debt

FY25 cash from operations ₹630 Cr: 121% of FY25 net profit of ₹520 Cr.

Borrowings ₹233 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹1,435₹1,542 +7.4% above
Net profit₹112₹108 -3.8% in line
📊 Investor presentation (20 May) Detailed financials →

Thermax Limited

THERMAX · Electrical Equipment · Q3 FY26 · Consolidated
M Cap
₹37,270 Cr
P/E
63.1
PEG
4.51
  • Profit +112% above its own trend
  • Operating margin expanded 214 bps YoY
  • 42% of pre-tax profit came from other income and one-off items
  • Exceptional items of ₹58.8 Cr in the quarter
  • Profit grew faster than the core business (core profit +34%)
₹ CrYoYQoQ Dec 2025Sep 2025Dec 2024
Sales +5.1%+6.5% 2,6352,4742,508
Operating profit +34.8%+48.1% 255172189
OPM % +214 bps+272 bps 9.7%7.0%7.5%
Other income +99.1%-26.6% 62.785.431.5
Net profit? +80.3%+71.7% 205119114
PAT margin % +325 bps+295 bps 7.8%4.8%4.5%
EPS (₹) +76.1%+70.6% 18.1210.6210.29

Quality of profit

Core 58%Other income & one-offs 42%

Pre-tax profit ₹289 Cr: core business ₹167 Cr, other income ₹62.7 Cr, exceptional & other items ₹58.6 Cr.

Core profit YoY: +33.6% · reported profit +80.3%

Cash & debt

FY25 cash from operations ₹1,043 Cr: 166% of FY25 net profit of ₹627 Cr.

Borrowings ₹1,718 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹2,587₹2,635 +1.8% in line
Net profit₹96.6₹205 +112.2% above
📊 Investor presentation (31 Jul) Detailed financials →

JK Cement Limited

JKCEMENT · Cement · Q3 FY26 · Consolidated
M Cap
₹37,181 Cr
P/E
39.6
PEG
1.20
  • Profit -35% below its own trend
  • Core business grew faster than reported profit (core profit +15%)
₹ CrYoYQoQ Dec 2025Sep 2025Dec 2024
Sales +18.2%+12.9% 3,4633,0682,930
Operating profit +13.2%+22.7% 557454492
OPM % -71 bps+129 bps 16.1%14.8%16.8%
Other income to lossto loss -2.051.044.5
Net profit? -8.4%+9.3% 174159190
PAT margin % -146 bps-17 bps 5.0%5.2%6.5%
EPS (₹) -7.9%+8.8% 22.6020.7824.54

Quality of profit

Pre-tax profit ₹268 Cr: core business ₹269 Cr, other income −₹2.0 Cr, exceptional & other items ₹1.0 Cr.

Core profit YoY: +14.9% · reported profit -8.4%

Cash & debt

FY25 cash from operations ₹1,939 Cr: 222% of FY25 net profit of ₹872 Cr.

Borrowings ₹6,028 Cr at Mar 2025.

Against its own trend ?

TrendActualGap
Sales₹3,439₹3,463 +0.7% in line
Net profit₹267₹174 -34.8% below
📊 Investor presentation (18 Jul) Detailed financials →

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.

Results calendarWho reports results today, tomorrow and this week. Strong quarterly resultsCompanies whose latest quarter showed profit up 30% or more. Live announcementsEvery NSE/BSE filing with an AI read, as it arrives. Company fundamentalsTen years of quarterly and annual financials.
⚠️ How this site is made: Market data pages are computed automatically from NSE/BSE publications and company filings; news articles and announcement analyses are written with AI assistance, with a human in the loop: our editors review what the AI produces. Both can contain errors. Verify with the original sources before any investment decision. Not investment advice; Flash Finance is not SEBI-registered. How we use AI