Home › Quarterly results › Q4 FY26
Q4 FY26 quarterly results (January-March 2026)
5,115 companies have declared Q4 FY26 results so far, the latest on 12 Oct 2026.
Across the 4,645 non-financial companies with a year-ago quarter to compare, sales grew +12.4% and net profit +34.1% year on year, and the combined operating margin widened 10 bps to 14.3%.
For the 120 banks and lenders, net interest income grew +9.1% and net profit +11.1%.
55% of companies grew net profit; 472 turned a loss into a profit; 38% beat their own profit trend and 48% fell short of it.
Updated 13 Oct 2026, 17:43 IST
5115 declared
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Q4 FY26 scoreboard
Sales growth
+12.4%
YoY, 4645 companies combined; median +11.7%
Net profit growth
+34.1%
YoY combined; median +16.1%
Operating margin
14.3%
+10 bps YoY
Grew profit
55%
472 turnarounds, 495 into loss
Vs own profit trend
38% / 48%
above / below, 14% in line
Banks: NII growth
+9.1%
120 lenders; profit +11.1%
Price since results
-3.9%
median; 31% of 35 stocks up
Other-income heavy
1375
25%+ of pre-tax profit from other income & one-offs
Filters & sorting
Results by sector
Latest Q4 FY26 results 5115
Page 12 of 171
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M Cap ₹30,505 Cr
P/E 20.3
PEG 4.05
Profit -73% below its own trend Core business grew faster than reported profit (core profit +9%) FY26 operating cash flow was only 18% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+25.6% +7.4%
33,213 30,922 26,440
Operating profit
+2.9% -1.9%
614 626 597
OPM %
-41 bps -18 bps
1.8% 2.0% 2.3%
Other income
to loss to loss
-97.0 37.2 70.1
Net profit?
-68.6% -30.3%
288 413 918
PAT margin %
-260 bps -47 bps
0.9% 1.3% 3.5%
EPS (₹)
-41.1% -10.1%
5.01 5.57 8.51
Quality of profit
Pre-tax profit ₹395 Cr: core business ₹492 Cr, other income −₹97.0 Cr.
Core profit YoY: +8.8%
· reported profit -68.6%
Cash & debt
FY26 cash from operations ₹231 Cr:
18% of FY26 net profit of ₹1,284 Cr.
Borrowings ₹2,842 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹31,020 ₹33,213
+7.1% above
Net profit ₹1,060 ₹288
-72.8% below
M Cap ₹30,446 Cr
P/E 9.7
PEG —
Profit -84% below its own trend Operating margin expanded 334 bps YoY Core business grew faster than reported profit (core profit +115%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-13.2% -19.4%
23,950 29,720 27,601
Operating profit
+57.6% -36.0%
1,781 2,785 1,130
OPM %
+334 bps -193 bps
7.4% 9.4% 4.1%
Other income
+56.2% +50.0%
59.0 39.3 37.8
Net profit?
-68.4% -91.9%
117 1,451 371
PAT margin %
-85 bps -439 bps
0.5% 4.9% 1.3%
EPS (₹)
-68.2% -91.9%
0.67 8.28 2.11
Quality of profit
Core 95% Other income & one-offs 5%
Pre-tax profit ₹1,233 Cr: core business ₹1,174 Cr, other income ₹59.0 Cr.
Core profit YoY: +114.8%
· reported profit -68.4%
Cash & debt
FY26 cash from operations ₹2,531 Cr:
132% of FY26 net profit of ₹1,925 Cr.
Borrowings ₹15,341 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹25,492 ₹23,950
-6.0% below
Net profit ₹741 ₹117
-84.2% below
M Cap ₹30,296 Cr
P/E 27.0
PEG 3.00
Profit +38% above its own trend Operating margin expanded 143 bps YoY Core business grew faster than reported profit (core profit +76%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+26.6% +18.5%
5,240 4,421 4,139
Operating profit
+41.1% +49.2%
727 487 515
OPM %
+143 bps +286 bps
13.9% 11.0% 12.4%
Other income
-46.5% -43.9%
29.0 51.6 54.2
Net profit?
+41.7% +58.0%
312 198 220
PAT margin %
+64 bps +149 bps
6.0% 4.5% 5.3%
EPS (₹)
+44.3% +61.0%
11.43 7.10 7.92
Quality of profit
Core 94% Other income & one-offs 6%
Pre-tax profit ₹456 Cr: core business ₹427 Cr, other income ₹29.0 Cr.
Core profit YoY: +75.8%
· reported profit +41.7%
Cash & debt
FY26 cash from operations ₹2,024 Cr:
191% of FY26 net profit of ₹1,061 Cr.
Borrowings ₹1,005 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹4,971 ₹5,240
+5.4% above
Net profit ₹226 ₹312
+38.0% above
M Cap ₹30,059 Cr
P/E 20.8
PEG —
Turnaround: profit against a loss a year ago
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Total income
+11.1% +11.3%
2,626 2,359 2,363
Net interest income
+2.7% —
1,505 — 1,466
Other income
+500.0% —
12.0 — 2.0
Net profit?
from loss +69.8%
405 239 -203
EPS (₹)
from loss +52.5%
4.30 2.82 -2.26
Against its own trend ?
Trend Actual Gap
NII ₹1,234 ₹1,505
+22.0% above
M Cap ₹29,729 Cr
P/E 110.3
PEG 1.72
Operating margin contracted 168 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+86.5% -3.9%
774 805 415
Operating profit
+64.4% -1.0%
97.0 98.0 59.0
OPM %
-168 bps +36 bps
12.5% 12.2% 14.2%
Other income
+400.0% +42.9%
10.0 7.0 2.0
Net profit
+65.1% -2.7%
71.0 73.0 43.0
PAT margin %
-119 bps +10 bps
9.2% 9.1% 10.4%
EPS (₹)
+64.9% -4.2%
12.40 12.94 7.52
Quality of profit
Core 90% Other income & one-offs 10%
Pre-tax profit ₹95.0 Cr: core business ₹85.0 Cr, other income ₹10.0 Cr.
Core profit YoY: +54.5%
· reported profit +65.1%
Cash & debt
FY26 cash from operations ₹171 Cr:
80% of FY26 net profit of ₹214 Cr.
Borrowings ₹282 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹742 ₹774
+4.3% in line
Net profit ₹75.4 ₹71.0
-5.8% in line
M Cap ₹29,576 Cr
P/E 49.1
PEG 0.33
Profit -43% below its own trend Operating margin contracted 212 bps YoY 90% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -85%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+12.5% +10.3%
548 497 487
Operating profit
+9.9% +7.9%
479 444 436
OPM %
-212 bps -193 bps
87.4% 89.3% 89.5%
Other income
+350.0% +42.5%
171 120 38.0
Net profit?
+13.1% +21.1%
138 114 122
PAT margin %
+13 bps +224 bps
25.2% 22.9% 25.1%
EPS (₹)
+12.7% +22.3%
2.30 1.88 2.04
Quality of profit
Core 10% Other income & one-offs 90%
Pre-tax profit ₹190 Cr: core business ₹19.0 Cr, other income ₹171 Cr.
Core profit YoY: -85.2%
· reported profit +13.1%
Cash & debt
FY26 cash from operations ₹1,249 Cr:
251% of FY26 net profit of ₹498 Cr.
Borrowings ₹19,896 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹803 ₹548
-31.8% below
Net profit ₹244 ₹138
-43.4% below
M Cap ₹29,410 Cr
P/E 21.3
PEG 0.82
Profit -17% below its own trend Operating margin expanded 108 bps YoY 29% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +39%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+21.4% -9.5%
2,968 3,280 2,445
Operating profit
+32.5% -12.4%
381 435 288
OPM %
+108 bps -41 bps
12.8% 13.3% 11.8%
Other income
-7.9% -21.0%
122 154 132
Net profit?
+0.8% -10.4%
321 358 318
PAT margin %
-221 bps -11 bps
10.8% 10.9% 13.0%
EPS (₹)
-1.1% -12.0%
28.65 32.57 28.96
Quality of profit
Core 72% Other income & one-offs 28%
Pre-tax profit ₹428 Cr: core business ₹306 Cr, other income ₹122 Cr.
Core profit YoY: +38.8%
· reported profit +0.8%
Cash & debt
FY26 cash from operations ₹1,381 Cr:
58% of FY26 net profit of ₹2,395 Cr.
Borrowings ₹162 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹2,732 ₹2,968
+8.7% above
Net profit ₹387 ₹321
-17.1% below
M Cap ₹29,385 Cr
P/E 14.9
PEG —
Profit -30% below its own trend Gross NPA up 104 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Total income
+13.9% +1.9%
2,181 2,140 1,915
Net interest income
— +7.4%
934 869 —
Other income
— -84.1%
6.0 37.6 —
Net profit
-1.8% -15.7%
493 585 502
EPS (₹)
-6.4% -16.3%
1.75 2.09 1.87
Gross NPA %
+104 bps -26 bps
3.5% 3.8% 2.5%
Net NPA %
-6 bps -39 bps
1.3% 1.7% 1.4%
Against its own trend ?
Trend Actual Gap
Net profit ₹700 ₹493
-29.6% below
M Cap ₹29,083 Cr
P/E 52.2
PEG —
Operating margin contracted 212 bps YoY 33% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+22.3% +15.1%
1,572 1,366 1,286
Operating profit
+8.0% +30.6%
252 193 233
OPM %
-212 bps +190 bps
16.0% 14.1% 18.2%
Other income
+64.7% from loss
94.0 -125 57.1
Net profit?
+8.0% —
204 7.0 189
PAT margin %
-171 bps +1246 bps
13.0% 0.5% 14.7%
EPS (₹)
+7.9% —
5.03 0.16 4.66
Quality of profit
Core 67% Other income & one-offs 33%
Pre-tax profit ₹283 Cr: core business ₹189 Cr, other income ₹94.0 Cr.
Core profit YoY: -4.3%
· reported profit +8.0%
Cash & debt
FY26 cash from operations ₹776 Cr:
142% of FY26 net profit of ₹546 Cr.
Borrowings ₹938 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,291 ₹1,572
+21.7% above
Net profit ₹198 ₹204
+2.8% in line
M Cap ₹28,991 Cr
P/E 10.3
PEG 0.74
Gross NPA down 52 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Total income
-9.5% -2.1%
7,365 7,521 8,137
Net interest income
-3.1% -1.2%
2,614 2,646 2,698
Other income
-49.1% -18.4%
709 869 1,392
Net profit
+22.8% +8.3%
801 740 652
EPS (₹)
+18.5% +8.5%
0.64 0.59 0.54
Gross NPA %
-52 bps -24 bps
2.2% 2.4% 2.7%
Net NPA %
-23 bps -9 bps
0.3% 0.4% 0.5%
Against its own trend ?
Trend Actual Gap
NII ₹2,987 ₹2,614
-12.5% below
Net profit ₹737 ₹801
+8.6% in line
M Cap ₹28,923 Cr
P/E 37.9
PEG 1.26
Profit -13% below its own trend Operating margin expanded 317 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+18.5% +5.3%
858 815 724
Operating profit
+30.5% +4.8%
295 282 226
OPM %
+317 bps -17 bps
34.4% 34.6% 31.2%
Other income
+66.7% -10.0%
5.0 5.6 3.0
Net profit?
+39.2% +12.4%
206 183 148
PAT margin %
+357 bps +151 bps
24.0% 22.5% 20.4%
EPS (₹)
+39.4% +12.4%
12.00 10.68 8.61
Quality of profit
Core 98% Other income & one-offs 2%
Pre-tax profit ₹253 Cr: core business ₹248 Cr, other income ₹5.0 Cr.
Core profit YoY: +40.1%
· reported profit +39.2%
Cash & debt
FY26 cash from operations ₹674 Cr:
93% of FY26 net profit of ₹722 Cr.
Borrowings ₹766 Cr at Sep 2025, against ₹856 Cr at Mar 2025 (-11% ).
Against its own trend ?
Trend Actual Gap
Sales ₹862 ₹858
-0.5% in line
Net profit ₹236 ₹206
-12.9% below
M Cap ₹28,688 Cr
P/E 47.7
PEG 6.81
Operating margin expanded 139 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+6.0% +7.0%
1,181 1,104 1,114
Operating profit
+16.4% -3.3%
185 191 159
OPM %
+139 bps -167 bps
15.7% 17.3% 14.3%
Other income
+0.0% +70.2%
47.0 27.6 47.0
Net profit
+14.3% +5.9%
160 151 140
PAT margin %
+98 bps -14 bps
13.5% 13.7% 12.6%
EPS (₹)
+14.2% +5.7%
180.63 170.97 158.23
Quality of profit
Core 79% Other income & one-offs 21%
Pre-tax profit ₹215 Cr: core business ₹169 Cr, other income ₹47.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +18.2%
· reported profit +14.3%
Cash & debt
FY26 cash from operations ₹493 Cr:
83% of FY26 net profit of ₹595 Cr.
Borrowings ₹110 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,153 ₹1,181
+2.4% in line
Net profit ₹159 ₹160
+0.9% in line
M Cap ₹28,348 Cr
P/E 154.5
PEG 5.72
Profit -56% below its own trend Operating margin contracted 719 bps YoY 43% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+0.5% -42.7%
590 1,029 587
Operating profit
-48.3% -74.0%
45.0 173 87.0
OPM %
-719 bps -919 bps
7.6% 16.8% 14.8%
Other income
+150.0% from loss
15.0 -20.0 6.0
Net profit
-60.0% -77.3%
22.0 97.0 55.0
PAT margin %
-564 bps -570 bps
3.7% 9.4% 9.4%
EPS (₹)
-59.6% -77.3%
0.92 4.06 2.28
Quality of profit
Core 57% Other income & one-offs 43%
Pre-tax profit ₹35.0 Cr: core business ₹20.0 Cr, other income ₹15.0 Cr.
Core profit YoY: -70.6%
· reported profit -60.0%
Cash & debt
Borrowings ₹548 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹670 ₹590
-12.0% below
Net profit ₹50.5 ₹22.0
-56.4% below
M Cap ₹28,286 Cr
P/E 60.9
PEG 3.58
Profit +31% above its own trend Operating margin expanded 220 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+27.3% +8.2%
2,226 2,057 1,749
Operating profit
+47.4% +15.0%
359 312 244
OPM %
+220 bps +95 bps
16.1% 15.2% 13.9%
Other income
+263.3% -31.4%
19.0 27.7 5.2
Net profit?
+73.8% +8.3%
116 107 66.8
PAT margin %
+139 bps +0 bps
5.2% 5.2% 3.8%
EPS (₹)
+74.3% +8.7%
48.80 44.90 27.99
Quality of profit
Core 90% Other income & one-offs 10%
Pre-tax profit ₹173 Cr: core business ₹155 Cr, other income ₹19.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +91.8%
· reported profit +73.8%
Cash & debt
FY26 cash from operations ₹522 Cr:
136% of FY26 net profit of ₹384 Cr.
Borrowings ₹3,623 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹2,740 ₹2,226
-18.8% below
Net profit ₹88.3 ₹116
+31.4% above
M Cap ₹28,178 Cr
P/E 144.9
PEG —
Profit -58% below its own trend Operating margin contracted 568 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+34.9% +7.7%
1,075 998 797
Operating profit
+4.0% +3.5%
206 199 198
OPM %
-568 bps -78 bps
19.2% 19.9% 24.8%
Other income
-77.8% -80.0%
1.0 5.0 4.5
Net profit?
-68.9% -36.5%
33.0 52.0 106
PAT margin %
-1024 bps -214 bps
3.1% 5.2% 13.3%
EPS (₹)
-58.3% -20.3%
1.06 1.33 2.54
Quality of profit
Core 96% Other income & one-offs 4%
Pre-tax profit ₹55.0 Cr: core business ₹53.0 Cr, other income ₹1.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: -55.3%
· reported profit -68.9%
Cash & debt
FY26 cash from operations ₹511 Cr:
211% of FY26 net profit of ₹242 Cr.
Borrowings ₹4,253 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,006 ₹1,075
+6.9% above
Net profit ₹79.1 ₹33.0
-58.3% below
M Cap ₹27,949 Cr
P/E 20.4
PEG 0.55
Profit +47% above its own trend Operating margin expanded 1115 bps YoY Profit grew faster than the core business (core profit +58%) FY26 operating cash flow was only 34% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-5.3% -2.3%
1,787 1,829 1,888
Operating profit
+48.0% +45.5%
553 380 374
OPM %
+1115 bps +1017 bps
30.9% 20.8% 19.8%
Other income
+11.8% +61.7%
152 94.0 136
Net profit?
+86.3% +51.8%
521 343 280
PAT margin %
+1434 bps +1039 bps
29.2% 18.8% 14.8%
EPS (₹)
+86.1% +51.9%
33.43 22.01 adj. 17.96
EPS restated for the 2:1 bonus of Sep 2025: Mar 2025 ₹53.88 to ₹17.96.
Quality of profit
Core 77% Other income & one-offs 23%
Pre-tax profit ₹669 Cr: core business ₹517 Cr, other income ₹152 Cr.
Core profit YoY: +57.7%
· reported profit +86.3%
Cash & debt
FY26 cash from operations ₹518 Cr:
34% of FY26 net profit of ₹1,526 Cr.
Borrowings ₹234 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,906 ₹1,787
-6.3% below
Net profit ₹353 ₹521
+47.4% above
M Cap ₹27,363 Cr
P/E 60.9
PEG 12.17
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+18.8% +2.5%
2,499 2,437 2,103
Operating profit
+24.8% +0.5%
485 482 389
OPM %
+93 bps -38 bps
19.4% 19.8% 18.5%
Other income
+21.8% -27.2%
13.0 17.9 10.7
Net profit?
+66.2% +12.5%
82.0 72.9 49.3
PAT margin %
+94 bps +29 bps
3.3% 3.0% 2.3%
EPS (₹)
+65.8% +13.1%
1.21 1.07 0.73
Quality of profit
Core 89% Other income & one-offs 11%
Pre-tax profit ₹111 Cr: core business ₹99.0 Cr, other income ₹13.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +70.1%
· reported profit +66.2%
Cash & debt
FY26 cash from operations ₹1,894 Cr:
427% of FY26 net profit of ₹444 Cr.
Borrowings ₹4,902 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹2,489 ₹2,499
+0.4% in line
Net profit ₹81.7 ₹82.0
+0.4% in line
M Cap ₹27,218 Cr
P/E 6.0
PEG 0.15
Profit -50% below its own trend Gross NPA down 51 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Total income
+4.7% -1.3%
10,859 10,997 10,376
Net interest income
+17.7% +14.3%
4,021 3,518 3,415
Other income
-32.6% -39.8%
1,161 1,927 1,723
Net profit?
-32.4% -40.9%
748 1,265 1,106
EPS (₹)
-32.8% -41.4%
0.82 1.40 1.22
Gross NPA %
-51 bps -4 bps
2.7% 2.7% 3.2%
Net NPA %
-6 bps +4 bps
0.5% 0.5% 0.6%
Against its own trend ?
Trend Actual Gap
NII ₹3,281 ₹4,021
+22.5% above
Net profit ₹1,487 ₹748
-49.7% below
M Cap ₹26,999 Cr
P/E 43.2
PEG 0.80
Profit -66% below its own trend Core business grew faster than reported profit (core profit +79%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+54.8% +39.0%
960 690 620
Operating profit
+55.4% +41.8%
696 491 448
OPM %
+28 bps +139 bps
72.5% 71.1% 72.2%
Other income
+38.3% -27.9%
27.0 37.4 19.5
Net profit?
-31.3% -73.2%
54.0 201 78.6
PAT margin %
-705 bps -2352 bps
5.6% 29.1% 12.7%
EPS (₹)
-57.0% -81.9%
0.49 2.71 1.14
Quality of profit
Core 88% Other income & one-offs 12%
Pre-tax profit ₹223 Cr: core business ₹196 Cr, other income ₹27.0 Cr.
Core profit YoY: +78.6%
· reported profit -31.3%
Cash & debt
FY26 cash from operations ₹2,285 Cr:
426% of FY26 net profit of ₹536 Cr.
Borrowings ₹16,583 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹704 ₹960
+36.4% above
Net profit ₹157 ₹54.0
-65.7% below
M Cap ₹26,852 Cr
P/E 90.1
PEG —
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+12.8% +2.6%
1,210 1,179 1,073
Operating profit
+3.9% +5.6%
113 107 109
OPM %
-80 bps +26 bps
9.3% 9.1% 10.1%
Other income
+67.5% from loss
9.0 -6.0 5.4
Net profit?
+2.5% +20.0%
66.0 55.0 64.4
PAT margin %
-54 bps +79 bps
5.5% 4.7% 6.0%
EPS (₹)
+3.3% +21.5%
4.63 3.81 4.48
Quality of profit
Core 90% Other income & one-offs 10%
Pre-tax profit ₹92.0 Cr: core business ₹83.0 Cr, other income ₹9.0 Cr.
Core profit YoY: +1.2%
· reported profit +2.5%
Cash & debt
FY26 cash from operations ₹345 Cr:
137% of FY26 net profit of ₹252 Cr.
Borrowings ₹148 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,245 ₹1,210
-2.8% in line
Net profit ₹69.9 ₹66.0
-5.6% in line
M Cap ₹26,439 Cr
P/E 4.4
PEG 0.18
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Total income
+16.8% +4.3%
10,522 10,084 9,011
Net interest income
+19.1% —
6,611 — 5,552
Other income
+59.2% —
156 — 98.0
Net profit?
+19.4% +17.3%
1,626 1,386 1,362
EPS (₹)
+12.0% +9.8%
36.59 33.32 32.68
Against its own trend ?
Trend Actual Gap
Net profit ₹1,550 ₹1,626
+4.9% in line
M Cap ₹26,385 Cr
P/E 75.1
PEG —
Profit +67% above its own trend Operating margin expanded 307 bps YoY Profit grew faster than the core business (core profit +79%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+27.8% +10.1%
999 908 782
Operating profit
+51.9% +17.7%
193 164 127
OPM %
+307 bps +126 bps
19.3% 18.1% 16.3%
Other income
+212.8% +224.0%
31.0 9.6 9.9
Net profit?
+107.7% +77.2%
123 69.4 59.2
PAT margin %
+474 bps +466 bps
12.3% 7.6% 7.6%
EPS (₹)
+103.6% +76.3%
19.48 11.05 9.57
Quality of profit
Core 80% Other income & one-offs 20%
Pre-tax profit ₹157 Cr: core business ₹126 Cr, other income ₹31.0 Cr.
Core profit YoY: +78.5%
· reported profit +107.7%
Against its own trend ?
Trend Actual Gap
Sales ₹819 ₹999
+22.0% above
Net profit ₹73.5 ₹123
+67.3% above
M Cap ₹26,385 Cr
P/E 72.3
PEG 2.41
Profit +999% above its own trend Operating margin expanded 2410 bps YoY Core business grew faster than reported profit (core profit +773%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+136.3% +76.5%
776 440 328
Operating profit
+504.9% +299.1%
307 76.9 50.8
OPM %
+2410 bps +2207 bps
39.6% 17.5% 15.5%
Other income
+60.8% +49.0%
12.0 8.1 7.5
Net profit
+668.0% +427.0%
213 40.4 27.7
PAT margin %
+1900 bps +1826 bps
27.4% 9.2% 8.4%
EPS (₹)
+666.1% +425.8%
165.64 31.50 21.62
Quality of profit
Core 96% Other income & one-offs 4%
Pre-tax profit ₹287 Cr: core business ₹275 Cr, other income ₹12.0 Cr.
Core profit YoY: +772.5%
· reported profit +668.0%
Cash & debt
FY26 cash from operations ₹348 Cr:
96% of FY26 net profit of ₹364 Cr.
Borrowings ₹301 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹321 ₹776
+141.4% above
Net profit ₹13.9 ₹213
+999.0% above
M Cap ₹26,058 Cr
P/E 105.5
PEG —
Into loss: a profit a year ago Profit -103% below its own trend Operating margin contracted 364 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-0.1% +28.6%
2,752 2,140 2,754
Operating profit
-17.9% +135.0%
461 196 561
OPM %
-364 bps +758 bps
16.7% 9.2% 20.4%
Other income
to loss to loss
-116 12.4 58.0
Net profit?
to loss to loss
-8.8 129 277
PAT margin %
-1039 bps -635 bps
-0.3% 6.0% 10.1%
EPS (₹)
to loss loss narrowed
-0.07 -1.02 1.16
Quality of profit
Pre-tax profit ₹43.0 Cr: core business ₹159 Cr, other income −₹116 Cr.
Core profit YoY: -25.6%
Cash & debt
FY26 cash from operations ₹1,653 Cr:
385% of FY26 net profit of ₹430 Cr.
Borrowings ₹5,675 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹2,702 ₹2,752
+1.8% in line
Net profit ₹334 −₹8.8
-102.6% below
M Cap ₹25,831 Cr
P/E 52.5
PEG 0.35
Operating margin contracted 290 bps YoY All of pre-tax profit came from other income or one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+4.5% +5.5%
2,711 2,570 2,594
Operating profit
loss widened to loss
-297 162 -209
OPM %
-290 bps -1726 bps
-11.0% 6.3% -8.1%
Other income
+44.6% —
470 1.0 325
Net profit
+28.4% +6.4%
149 140 116
PAT margin %
+102 bps +5 bps
5.5% 5.4% 4.5%
EPS (₹)
+29.6% +6.6%
1.62 1.52 1.25
Quality of profit
Pre-tax profit ₹173 Cr: core business −₹297 Cr, other income ₹470 Cr.
Core profit YoY: loss widened
· reported profit +28.4%
Cash & debt
FY26 cash from operations ₹2,026 Cr:
372% of FY26 net profit of ₹544 Cr.
Borrowings ₹350 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹2,822 ₹2,711
-3.9% in line
Net profit ₹155 ₹149
-4.2% in line
M Cap ₹25,800 Cr
P/E 14.2
PEG 4.73
Profit +206% above its own trend Gross NPA down 77 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Total income
+42.6% +7.8%
3,699 3,433 2,594
Net interest income
+46.4% —
2,082 — 1,422
Other income
+133.3% —
7.0 — 3.0
Net profit?
+148.2% +24.3%
623 501 251
EPS (₹)
+182.2% +26.4%
13.80 10.92 4.89
Gross NPA %
-77 bps -14 bps
1.5% 1.6% 2.2%
Net NPA %
-32 bps -2 bps
0.7% 0.8% 1.1%
Against its own trend ?
Trend Actual Gap
Net profit ₹204 ₹623
+206.1% above
M Cap ₹25,798 Cr
P/E 93.9
PEG 2.61
Operating margin contracted 216 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+69.2% +33.1%
589 443 348
Operating profit
+49.7% +21.9%
98.0 80.4 65.5
OPM %
-216 bps -153 bps
16.6% 18.2% 18.8%
Other income
-25.5% +92.7%
8.0 4.2 10.7
Net profit?
+35.8% +27.8%
72.0 56.3 53.0
PAT margin %
-300 bps -50 bps
12.2% 12.7% 15.2%
EPS (₹)
+35.9% +28.0%
4.62 3.61 3.40
Quality of profit
Core 92% Other income & one-offs 8%
Pre-tax profit ₹99.0 Cr: core business ₹91.0 Cr, other income ₹8.0 Cr.
Core profit YoY: +52.7%
· reported profit +35.8%
Cash & debt
FY26 cash from operations ₹129 Cr:
54% of FY26 net profit of ₹238 Cr.
Borrowings ₹18.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹466 ₹589
+26.4% above
Net profit ₹76.7 ₹72.0
-6.1% in line
M Cap ₹25,741 Cr
P/E 66.5
PEG —
Operating margin expanded 1495 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+40.4% +10.2%
433 393 308
Operating profit
+116.6% +21.9%
184 151 85.0
OPM %
+1495 bps +407 bps
42.5% 38.4% 27.5%
Other income
+90.3% +120.0%
11.0 5.0 5.8
Net profit?
+113.7% +26.4%
134 106 62.7
PAT margin %
+1062 bps +397 bps
30.9% 27.0% 20.3%
EPS (₹)
+106.3% +22.0%
16.09 13.19 7.80
Quality of profit
Core 94% Other income & one-offs 6%
Pre-tax profit ₹184 Cr: core business ₹173 Cr, other income ₹11.0 Cr.
Core profit YoY: +124.5%
· reported profit +113.7%
Against its own trend ?
Trend Actual Gap
Sales ₹403 ₹433
+7.5% above
Net profit ₹125 ₹134
+6.8% in line
M Cap ₹25,427 Cr
P/E 88.2
PEG —
Operating margin expanded 304 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+43.6% +8.1%
514 476 358
Operating profit
+65.3% +10.1%
119 108 72.0
OPM %
+304 bps +41 bps
23.2% 22.7% 20.1%
Other income
— -20.8%
3.0 3.8 0.0
Net profit?
+113.9% +5.8%
77.0 72.8 36.0
PAT margin %
+492 bps -33 bps
15.0% 15.3% 10.1%
EPS (₹)
+97.9% +4.3%
4.65 4.46 2.35
Quality of profit
Core 98% Other income & one-offs 2%
Pre-tax profit ₹99.0 Cr: core business ₹97.0 Cr, other income ₹3.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +94.0%
· reported profit +113.9%
M Cap ₹25,379 Cr
P/E 18.5
PEG 0.68
Profit +392% above its own trend Operating margin expanded 154 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+14.2% -5.3%
7,336 7,743 6,424
Operating profit
+27.7% -9.9%
1,069 1,186 837
OPM %
+154 bps -74 bps
14.6% 15.3% 13.0%
Other income
to loss to loss
-421 49.5 27.5
Net profit?
+241.8% +34.1%
631 471 185
PAT margin %
+573 bps +252 bps
8.6% 6.1% 2.9%
EPS (₹)
+241.2% +33.6%
9.93 7.43 2.91
Quality of profit
Pre-tax profit ₹162 Cr: core business ₹582 Cr, other income −₹421 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +65.9%
· reported profit +241.8%
Cash & debt
FY26 cash from operations ₹3,667 Cr:
267% of FY26 net profit of ₹1,372 Cr.
Borrowings ₹3,675 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹6,735 ₹7,336
+8.9% above
Net profit ₹128 ₹631
+392.2% above
How to read this page
The numbers. Each card is one company's Q4 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, 17:43 IST