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.
5115 declared
Latest results
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The next results season has started: 42 companies have filed results for the quarter ended 30 Sep 2026.
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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
1375 matching results 1375
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M Cap ₹1,222 Cr
P/E 8.3
PEG 1.19
Profit +577% above its own trend Operating margin expanded 939 bps YoY 26% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+9.0% +17.6%
484 412 444 Operating profit
+527.1% +34.6%
55.0 40.9 8.8 OPM %
+939 bps +144 bps
11.4% 9.9% 2.0% Other income
-14.8% +45.7%
13.0 8.9 15.2 Net profit?
+476.9% +64.3%
39.0 23.7 6.8 PAT margin %
+654 bps +229 bps
8.1% 5.8% 1.5% EPS (₹)
+483.5% +66.0%
18.03 10.86 3.09
Quality of profit
Pre-tax profit ₹53.0 Cr: core business ₹39.0 Cr, other income ₹13.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: from loss
· reported profit +476.9%
Cash & debt
FY26 cash from operations ₹125 Cr:
124% of FY26 net profit of ₹100 Cr.
Borrowings ₹22.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹354 ₹484
+36.5% above Net profit ₹5.8 ₹39.0
+577.1% above
M Cap ₹1,217 Cr
P/E 27.5
PEG 0.21
Operating margin expanded 1576 bps YoY 38% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +600%) Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+97.1% +19.7%
134 112 68.0 Operating profit
+625.0% +103.9%
29.0 14.2 4.0 OPM %
+1576 bps +894 bps
21.6% 12.7% 5.9% Other income
+333.3% +223.2%
13.0 4.0 3.0 Net profit?
+520.0% +204.1%
31.0 10.2 5.0 PAT margin %
+1578 bps +1403 bps
23.1% 9.1% 7.4% EPS (₹)
+94.9% +103.4%
6.06 2.98 3.11
Quality of profit
Pre-tax profit ₹34.0 Cr: core business ₹21.0 Cr, other income ₹13.0 Cr.
Core profit YoY: +600.0%
· reported profit +520.0%
Cash & debt
FY26 cash from operations −₹20.0 Cr:
-44% of FY26 net profit of ₹45.6 Cr.
Borrowings ₹302 Cr at Mar 2026.
M Cap ₹1,203 Cr
P/E 5.6
PEG 0.51
Profit -67% below its own trend All of pre-tax profit came from other income or one-off items Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+5.3% -23.3%
1,579 2,059 1,500 Operating profit
to loss to loss -6.2 64.5 4.7 OPM %
-70 bps -352 bps
-0.4% 3.1% 0.3% Other income
+10.4% -9.5%
36.8 40.7 33.3 Net profit?
-33.4% -87.6%
8.2 66.6 12.3 PAT margin %
-30 bps -271 bps
0.5% 3.2% 0.8% EPS (₹)
-38.5% -87.9%
0.16 1.32 0.26
Quality of profit
Pre-tax profit ₹11.5 Cr: core business −₹25.4 Cr, other income ₹36.8 Cr.
Core profit YoY: loss widened
· reported profit -33.4%
Cash & debt
FY26 cash from operations −₹85.0 Cr:
-51% of FY26 net profit of ₹165 Cr.
Borrowings ₹850 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹2,164 ₹1,579
-27.0% below Net profit ₹24.7 ₹8.2
-66.7% below
M Cap ₹1,157 Cr
P/E 12.6
PEG 0.79
Operating margin contracted 105 bps YoY 31% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +116%) Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+57.2% +258.1%
641 179 408 Operating profit
+43.4% from loss 70.0 -17.0 48.8 OPM %
-105 bps +2042 bps
10.9% -9.5% 12.0% Other income
-45.5% -26.7%
22.0 30.0 40.4 Net profit?
+65.8% from loss 79.0 -7.0 47.7 PAT margin %
+64 bps +1624 bps
12.3% -3.9% 11.7% EPS (₹)
+64.3% from loss 4.60 -0.40 2.80
Quality of profit
Pre-tax profit ₹70.0 Cr: core business ₹48.0 Cr, other income ₹22.0 Cr.
Core profit YoY: +115.9%
· reported profit +65.8%
Cash & debt
FY26 cash from operations −₹16.0 Cr:
-16% of FY26 net profit of ₹101 Cr.
Borrowings ₹616 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹599 ₹641
+7.0% above Net profit ₹85.3 ₹79.0
-7.4% in line
M Cap ₹1,155 Cr
P/E 4.6
PEG —
Profit -14% below its own trend All of pre-tax profit came from other income or one-off items Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-100.0% -100.0%
0.0 6.0 2.0 Operating profit
to loss to loss -1.0 5.0 1.0 Other income
-21.7% +8.0%
54.0 50.0 69.0 Net profit?
-22.9% +0.0%
54.0 54.0 70.0 EPS (₹)
-23.1% -0.2%
168.01 168.29 218.49
Quality of profit
Pre-tax profit ₹53.0 Cr: core business −₹1.0 Cr, other income ₹54.0 Cr.
Core profit YoY: to loss
· reported profit -22.9%
Cash & debt
FY26 cash from operations −₹6.0 Cr:
-3% of FY26 net profit of ₹217 Cr.
Borrowings nil at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1.0 ₹0.0
-100.0% below Net profit ₹63.1 ₹54.0
-14.4% below
M Cap ₹1,121 Cr
P/E 25.0
PEG —
Profit +83% above its own trend Operating margin contracted 268 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
+5.9% +1.3%
115 113 108 Operating profit
-37.7% -64.7%
4.4 12.4 7.0 OPM %
-268 bps -714 bps
3.8% 11.0% 6.5% Other income
-46.4% -1.1%
6.0 6.1 11.3 Net profit?
+18.7% +17.0%
9.7 8.3 8.2 PAT margin %
+91 bps +113 bps
8.5% 7.3% 7.6% EPS (₹)
+24.0% +22.1%
4.70 3.85 3.79
Quality of profit
Pre-tax profit ₹10.4 Cr: core business −₹2.1 Cr, other income ₹6.0 Cr, exceptional & other items ₹6.5 Cr.
Core profit YoY: loss widened
· reported profit +18.7%
Cash & debt
FY26 cash from operations ₹75.0 Cr:
219% of FY26 net profit of ₹34.2 Cr.
Borrowings ₹49.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹105 ₹115
+9.8% above Net profit ₹5.3 ₹9.7
+82.8% above
M Cap ₹1,099 Cr
P/E 55.5
PEG 11.09
Profit +36% above its own trend Operating margin expanded 106 bps YoY 74% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +1%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+54.0% -2.6%
57.3 58.9 37.2 Operating profit
+84.4% -38.3%
3.7 6.0 2.0 OPM %
+106 bps -370 bps
6.4% 10.1% 5.4% Other income
+64.8% +23.4%
3.1 2.6 1.9 Net profit?
+44.9% -29.8%
3.3 4.8 2.3 PAT margin %
-37 bps -226 bps
5.8% 8.1% 6.2% EPS (₹)
+33.3% -31.0%
0.40 0.58 0.30
Quality of profit
Pre-tax profit ₹4.3 Cr: core business ₹1.1 Cr, other income ₹3.1 Cr.
Core profit YoY: +0.7%
· reported profit +44.9%
Cash & debt
FY26 cash from operations ₹18.0 Cr:
109% of FY26 net profit of ₹16.5 Cr.
Borrowings ₹33.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹44.4 ₹57.3
+29.2% above Net profit ₹2.5 ₹3.3
+35.9% above
M Cap ₹1,092 Cr
P/E 23.6
PEG —
Profit -97% below its own trend Operating margin contracted 2109 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
-48.0% -37.2%
46.8 74.5 89.9 Operating profit
-98.6% -98.3%
0.3 16.4 19.5 OPM %
-2109 bps -2141 bps
0.6% 22.0% 21.7% Other income
+120.8% -12.8%
2.2 2.5 1.0 Net profit
-94.1% -94.3%
0.8 14.2 13.8 PAT margin %
-1364 bps -1735 bps
1.7% 19.1% 15.4% EPS (₹)
-94.0% -93.8%
0.05 0.80 0.84
Quality of profit
Pre-tax profit ₹1.0 Cr: core business −₹1.2 Cr, other income ₹2.2 Cr.
Core profit YoY: to loss
· reported profit -94.1%
Against its own trend ?
Trend Actual Gap
Sales ₹148 ₹46.8
-68.4% below Net profit ₹27.7 ₹0.8
-97.0% below
M Cap ₹1,088 Cr
P/E 10.4
PEG —
Turnaround: profit against a loss a year ago Operating margin expanded 645 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
+36.1% -53.9%
280 608 206 Operating profit
+354.4% -84.4%
25.8 166 5.7 OPM %
+645 bps -1803 bps
9.2% 27.2% 2.8% Other income
-37.5% -5.4%
8.0 8.5 12.8 Net profit?
from loss -95.3%
5.0 107 -10.3 PAT margin %
+682 bps -1579 bps
1.8% 17.6% -5.0% EPS (₹)
from loss -95.3%
2.42 51.61 -4.99
Quality of profit
Pre-tax profit ₹5.0 Cr: core business −₹3.1 Cr, other income ₹8.0 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY26 cash from operations ₹100 Cr:
89% of FY26 net profit of ₹112 Cr.
Borrowings ₹580 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹227 ₹280
+23.3% above
M Cap ₹1,084 Cr
P/E 16.9
PEG 0.11
37% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +20%) Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+42.1% +12.0%
234 209 165 Operating profit
+34.2% +13.3%
17.0 15.0 12.7 OPM %
-43 bps +9 bps
7.3% 7.2% 7.7% Other income
+163.2% +20.0%
6.0 5.0 2.3 Net profit
+50.6% +5.9%
18.0 17.0 11.9 PAT margin %
+44 bps -44 bps
7.7% 8.1% 7.3% EPS (₹)
+10.3% +7.1%
0.15 0.14 0.14
Quality of profit
Pre-tax profit ₹19.0 Cr: core business ₹12.0 Cr, other income ₹6.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +19.6%
· reported profit +50.6%
Cash & debt
FY26 cash from operations −₹269 Cr:
-486% of FY26 net profit of ₹55.4 Cr.
Borrowings ₹2,083 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹241 ₹234
-2.9% in line Net profit ₹16.5 ₹18.0
+9.3% in line
M Cap ₹1,078 Cr
P/E 26.5
PEG —
Profit -84% below its own trend 36% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +55%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+5.6% +12.3%
201 179 190 Operating profit
+1.4% +85.7%
26.0 14.0 25.6 OPM %
-53 bps +511 bps
12.9% 7.8% 13.5% Other income
-32.2% -12.5%
7.0 8.0 10.3 Net profit?
-75.3% +11.1%
10.0 9.0 40.4 PAT margin %
-1626 bps -5 bps
5.0% 5.0% 21.2% EPS (₹)
-75.1% +9.3%
1.06 0.97 4.26
Quality of profit
Pre-tax profit ₹22.0 Cr: core business ₹14.0 Cr, other income ₹7.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +55.0%
· reported profit -75.3%
Cash & debt
FY26 cash from operations ₹120 Cr:
235% of FY26 net profit of ₹51.0 Cr.
Borrowings ₹54.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹159 ₹201
+26.6% above Net profit ₹63.4 ₹10.0
-84.2% below
M Cap ₹1,075 Cr
P/E 41.0
PEG 1.14
Profit -30% below its own trend Operating margin contracted 824 bps YoY All of pre-tax profit came from other income or one-off items Profit grew faster than the core business (core profit -100%) Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+117.3% -19.9%
274 342 126 Operating profit
-33.3% -65.5%
10.0 29.0 15.0 OPM %
-824 bps -483 bps
3.6% 8.5% 11.9% Other income
+87.5% —
15.0 0.0 8.0 Net profit?
+39.7% -6.4%
14.0 15.0 10.0 PAT margin %
-284 bps +74 bps
5.1% 4.4% 7.9% EPS (₹)
+16.7% -12.5%
0.07 0.08 0.06
Quality of profit
Pre-tax profit ₹15.0 Cr: core business ₹0.0 Cr, other income ₹15.0 Cr.
Core profit YoY: -100.0%
· reported profit +39.7%
Cash & debt
FY26 cash from operations −₹263 Cr:
-489% of FY26 net profit of ₹53.8 Cr.
Borrowings ₹354 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹159 ₹274
+72.2% above Net profit ₹20.0 ₹14.0
-30.2% below
M Cap ₹1,066 Cr
P/E 35.6
PEG 0.94
Turnaround: profit against a loss a year ago Operating margin expanded 3097 bps YoY 57% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+3.3% +3.1%
73.0 70.8 70.6 Operating profit
from loss +1.3%
9.2 9.0 -13.0 OPM %
+3097 bps -22 bps
12.6% 12.8% -18.4% Other income
+166.3% from loss 7.3 -0.2 2.8 Net profit?
from loss +238.9%
9.9 2.9 -17.6 PAT margin %
+3854 bps +947 bps
13.6% 4.1% -24.9% EPS (₹)
from loss +260.0%
0.18 0.05 -0.32
Quality of profit
Pre-tax profit ₹12.8 Cr: core business ₹5.4 Cr, other income ₹7.3 Cr.
Core profit YoY: from loss
Cash & debt
FY26 cash from operations ₹72.0 Cr:
252% of FY26 net profit of ₹28.5 Cr.
Borrowings ₹28.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹67.2 ₹73.0
+8.6% above
M Cap ₹1,065 Cr
P/E 9.7
PEG 0.07
26% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +17%) Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+26.3% +38.0%
346 251 274 Operating profit
+34.5% -9.8%
39.0 43.2 29.0 OPM %
+69 bps -597 bps
11.3% 17.2% 10.6% Other income
+900.0% +869.6%
10.0 1.0 1.0 Net profit?
+87.5% +14.8%
30.0 26.1 16.0 PAT margin %
+283 bps -175 bps
8.7% 10.4% 5.8% EPS (₹)
— —
14.51 16.35 9.48
No EPS growth against Dec 2025 and Mar 2025: ₹10 to ₹1 split in Aug 2026.
Quality of profit
Pre-tax profit ₹38.0 Cr: core business ₹28.0 Cr, other income ₹10.0 Cr.
Core profit YoY: +16.7%
· reported profit +87.5%
Cash & debt
FY26 cash from operations −₹90.0 Cr:
-92% of FY26 net profit of ₹98.1 Cr.
Borrowings ₹386 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹474 ₹346
-27.0% below Net profit ₹32.0 ₹30.0
-6.2% in line
M Cap ₹1,057 Cr
P/E 53.6
PEG —
Profit +67% above its own trend Operating margin contracted 442 bps YoY 44% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -56%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+6.4% +2.3%
229 224 215 Operating profit
-24.0% +15.1%
25.2 21.9 33.2 OPM %
-442 bps +123 bps
11.0% 9.8% 15.5% Other income
+2.1% +43.1%
4.4 3.1 4.3 Net profit?
-16.5% +848.5%
8.1 0.9 9.7 PAT margin %
-97 bps +316 bps
3.5% 0.4% 4.5% EPS (₹)
-16.6% +837.0%
4.31 0.46 5.17
Quality of profit
Pre-tax profit ₹10.1 Cr: core business ₹5.7 Cr, other income ₹4.4 Cr.
Core profit YoY: -56.3%
· reported profit -16.5%
Cash & debt
FY26 cash from operations ₹86.0 Cr:
410% of FY26 net profit of ₹21.0 Cr.
Borrowings ₹183 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹194 ₹229
+17.9% above Net profit ₹4.9 ₹8.1
+66.9% above
M Cap ₹1,057 Cr
P/E 6.4
PEG —
Profit +174% above its own trend Operating margin expanded 389 bps YoY 30% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +676%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+5.2% +5.3%
304 289 289 Operating profit
+73.4% +1.4%
30.0 29.6 17.3 OPM %
+389 bps -38 bps
9.9% 10.3% 6.0% Other income
-40.1% -15.2%
5.4 6.3 9.0 Net profit?
+190.4% -8.8%
12.8 14.0 4.4 PAT margin %
+268 bps -65 bps
4.2% 4.8% 1.5% EPS (₹)
+190.7% -8.5%
3.11 3.40 1.07
Quality of profit
Pre-tax profit ₹17.7 Cr: core business ₹12.4 Cr, other income ₹5.4 Cr.
Core profit YoY: +675.6%
· reported profit +190.4%
Cash & debt
FY26 cash from operations ₹143 Cr:
86% of FY26 net profit of ₹166 Cr.
Borrowings ₹73.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹378 ₹304
-19.7% below Net profit ₹4.6 ₹12.8
+174.4% above
M Cap ₹1,056 Cr
P/E 20.4
PEG 6.80
Operating margin expanded 427 bps YoY 38% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-15.0% -36.5%
168 264 197 Operating profit
+93.8% -4.9%
12.8 13.4 6.6 OPM %
+427 bps +253 bps
7.6% 5.1% 3.3% Other income
+255.6% +7.5%
4.2 3.9 1.2 Net profit
+297.4% -22.8%
7.8 10.1 2.0 PAT margin %
+365 bps +82 bps
4.6% 3.8% 1.0% EPS (₹)
+295.2% -22.9%
2.49 3.23 0.63
Quality of profit
Pre-tax profit ₹11.1 Cr: core business ₹6.9 Cr, other income ₹4.2 Cr.
Core profit YoY: +316.3%
· reported profit +297.4%
Cash & debt
FY26 cash from operations ₹96.0 Cr:
247% of FY26 net profit of ₹38.9 Cr.
Borrowings ₹6.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹238 ₹168
-29.6% below
M Cap ₹1,046 Cr
P/E 86.2
PEG 21.56
Operating margin expanded 386 bps YoY All of pre-tax profit came from other income or one-off items Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-55.5% -31.8%
8.4 12.4 18.9 Operating profit
loss narrowed loss narrowed -1.2 -2.4 -3.5 OPM %
+386 bps +435 bps
-14.8% -19.2% -18.7% Other income
-26.0% -19.1%
5.3 6.5 7.2 Net profit?
+0.6% +7.0%
3.2 3.0 3.2 PAT margin %
+2130 bps +1384 bps
38.2% 24.4% 16.9% EPS (₹)
+0.5% +7.0%
2.13 1.99 2.12
Quality of profit
Pre-tax profit ₹3.7 Cr: core business −₹1.6 Cr, other income ₹5.3 Cr.
Core profit YoY: loss narrowed
· reported profit +0.6%
Cash & debt
FY26 cash from operations −₹36.0 Cr:
-291% of FY26 net profit of ₹12.4 Cr.
Borrowings nil at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹19.0 ₹8.4
-55.6% below Net profit ₹3.3 ₹3.2
-1.8% in line
M Cap ₹1,041 Cr
P/E 8.6
PEG 0.50
Profit -16% below its own trend Operating margin contracted 149 bps YoY 27% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -21%) FY26 operating cash flow was only 23% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+7.0% +10.1%
754 685 705 Operating profit
-17.4% -29.6%
38.0 54.0 46.0 OPM %
-149 bps -284 bps
5.0% 7.9% 6.5% Other income
+400.0% —
10.0 0.0 2.0 Net profit
+3.7% -17.6%
28.0 34.0 27.0 PAT margin %
-12 bps -125 bps
3.7% 5.0% 3.8% EPS (₹)
+5.3% -18.4%
5.76 7.06 5.47
Quality of profit
Pre-tax profit ₹37.0 Cr: core business ₹27.0 Cr, other income ₹10.0 Cr.
Core profit YoY: -20.6%
· reported profit +3.7%
Cash & debt
FY26 cash from operations ₹26.0 Cr:
23% of FY26 net profit of ₹115 Cr.
Borrowings ₹491 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹870 ₹754
-13.4% below Net profit ₹33.4 ₹28.0
-16.1% below
M Cap ₹1,037 Cr
P/E 18.7
PEG 1.70
Into loss: a profit a year ago Profit -118% below its own trend Operating margin contracted 372 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
+20.0% +1.4%
614 606 512 Operating profit
-46.1% -55.6%
18.7 42.0 34.6 OPM %
-372 bps -390 bps
3.0% 6.9% 6.8% Other income
+896.3% +79.6%
11.7 6.5 1.2 Net profit?
to loss to loss -1.3 14.6 10.3 PAT margin %
-221 bps -262 bps
-0.2% 2.4% 2.0% EPS (₹)
to loss to loss -0.03 1.35 0.83
Quality of profit
Pre-tax profit ₹2.4 Cr: core business −₹9.2 Cr, other income ₹11.7 Cr.
Core profit YoY: to loss
Cash & debt
FY26 cash from operations ₹45.0 Cr:
97% of FY26 net profit of ₹46.2 Cr.
Borrowings ₹423 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹583 ₹614
+5.3% above Net profit ₹6.8 −₹1.3
-118.5% below
M Cap ₹1,034 Cr
P/E 7.3
PEG —
Profit -85% below its own trend Operating margin expanded 348 bps YoY All of pre-tax profit came from other income or one-off items Exceptional items of ₹7.6 Cr in the quarter Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-72.6% -70.4%
124 421 455 Operating profit
-55.9% -63.3%
11.4 31.1 25.9 OPM %
+348 bps +179 bps
9.2% 7.4% 5.7% Other income
-38.4% -55.9%
3.6 8.2 5.8 Net profit?
-69.9% -59.3%
8.1 19.9 26.9 PAT margin %
+59 bps +178 bps
6.5% 4.7% 5.9% EPS (₹)
-69.9% -59.3%
0.90 2.21 2.99
Quality of profit
Pre-tax profit ₹10.1 Cr: core business −₹1.2 Cr, other income ₹3.6 Cr, exceptional & other items ₹7.6 Cr.
Core profit YoY: to loss
· reported profit -69.9%
Cash & debt
FY26 cash from operations −₹100 Cr:
-103% of FY26 net profit of ₹97.5 Cr.
Borrowings ₹465 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹459 ₹124
-72.9% below Net profit ₹53.8 ₹8.1
-85.0% below
M Cap ₹1,030 Cr
P/E 7.5
PEG —
Into loss: a profit a year ago Operating margin contracted 433 bps YoY 25% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+719.2% +34.1%
8,708 6,495 1,063 Operating profit
-66.7% -63.6%
16.0 44.0 48.0 OPM %
-433 bps -49 bps
0.2% 0.7% 4.5% Other income
+0.0% +0.0%
1.0 1.0 1.0 Net profit?
to loss to loss -4.0 34.0 30.0 PAT margin %
-287 bps -57 bps
-0.0% 0.5% 2.8% EPS (₹)
to loss to loss -0.76 6.33 5.61
Quality of profit
Pre-tax profit ₹4.0 Cr: core business ₹3.0 Cr, other income ₹1.0 Cr.
Core profit YoY: -90.9%
M Cap ₹1,029 Cr
P/E 132.1
PEG —
Profit +76% above its own trend 67% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -58%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+8.1% +10.3%
42.2 38.3 39.1 Operating profit
+14.1% +16.4%
3.5 3.0 3.1 OPM %
+44 bps +44 bps
8.4% 8.0% 8.0% Other income
from loss +44.3%
1.8 1.2 -0.8 Net profit
+109.9% +49.5%
2.8 1.8 1.3 PAT margin %
+316 bps +170 bps
6.5% 4.8% 3.4% EPS (₹)
+110.9% +48.7%
1.16 0.78 0.55
Quality of profit
Pre-tax profit ₹2.6 Cr: core business ₹0.9 Cr, other income ₹1.8 Cr.
Core profit YoY: -58.5%
· reported profit +109.9%
Cash & debt
FY26 cash from operations ₹15.0 Cr:
135% of FY26 net profit of ₹11.1 Cr.
Borrowings ₹37.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹38.7 ₹42.2
+9.0% above Net profit ₹1.6 ₹2.8
+76.3% above
M Cap ₹1,003 Cr
P/E 5.2
PEG —
Turnaround: profit against a loss a year ago Operating margin contracted 457 bps YoY All of pre-tax profit came from other income or one-off items Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-47.0% -1.4%
71.0 72.0 134 Operating profit
loss narrowed loss widened -61.0 -42.0 -109 OPM %
-457 bps -2758 bps
-85.9% -58.3% -81.3% Other income
+414.3% +74.2%
108 62.0 21.0 Net profit?
from loss +300.0%
24.0 6.0 -87.0 PAT margin %
+9873 bps +2547 bps
33.8% 8.3% -64.9% EPS (₹)
from loss +302.3%
6.96 1.73 -24.87
Quality of profit
Pre-tax profit ₹26.0 Cr: core business −₹82.0 Cr, other income ₹108 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY26 cash from operations −₹102 Cr:
-116% of FY26 net profit of ₹88.0 Cr.
Borrowings ₹952 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹76.7 ₹71.0
-7.4% below
M Cap ₹991 Cr
P/E 24.6
PEG —
Turnaround: profit against a loss a year ago Operating margin expanded 1565 bps YoY All of pre-tax profit came from other income or one-off items Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+6.7% -15.1%
76.5 90.1 71.7 Operating profit
from loss -61.6%
3.8 9.8 -7.7 OPM %
+1565 bps -596 bps
4.9% 10.9% -10.7% Other income
+583.9% +726.6%
10.6 1.3 1.6 Net profit?
from loss -11.9%
8.9 10.1 -9.7 PAT margin %
+2509 bps +42 bps
11.6% 11.2% -13.5% EPS (₹)
from loss -11.8%
0.97 1.10 -1.05
Quality of profit
Pre-tax profit ₹9.1 Cr: core business −₹1.5 Cr, other income ₹10.6 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY26 cash from operations −₹3.0 Cr:
-261% of FY26 net profit of ₹1.1 Cr.
Borrowings ₹100 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹54.7 ₹76.5
+39.9% above
M Cap ₹988 Cr
P/E 42.2
PEG 0.88
Profit -18% below its own trend Operating margin contracted 369 bps YoY 68% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -53%) Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+38.4% +37.2%
102 74.4 73.7 Operating profit
-18.4% -40.4%
5.4 9.1 6.6 OPM %
-369 bps -691 bps
5.3% 12.2% 9.0% Other income
+113.9% +95.2%
4.8 2.4 2.2 Net profit?
+7.5% -12.8%
5.6 6.4 5.2 PAT margin %
-158 bps -314 bps
5.5% 8.6% 7.1% EPS (₹)
+32.5% -26.4%
2.12 2.88 1.60
Quality of profit
Pre-tax profit ₹7.0 Cr: core business ₹2.2 Cr, other income ₹4.8 Cr.
Core profit YoY: -53.2%
· reported profit +7.5%
Cash & debt
FY26 cash from operations −₹15.0 Cr:
-68% of FY26 net profit of ₹22.2 Cr.
Borrowings ₹36.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹110 ₹102
-7.4% below Net profit ₹6.8 ₹5.6
-18.2% below
M Cap ₹987 Cr
P/E 26.9
PEG —
Operating margin contracted 150 bps YoY 29% of pre-tax profit came from other income and one-off items Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+15.7% +3.7%
496 478 429 Operating profit
-14.1% -10.4%
21.4 23.9 24.9 OPM %
-150 bps -68 bps
4.3% 5.0% 5.8% Other income
-32.7% +18.2%
3.3 2.8 4.8 Net profit?
-41.3% -23.7%
8.3 10.8 14.1 PAT margin %
-162 bps -60 bps
1.7% 2.3% 3.3% EPS (₹)
-38.6% -23.6%
0.81 1.06 1.32
Quality of profit
Pre-tax profit ₹11.2 Cr: core business ₹8.0 Cr, other income ₹3.3 Cr.
Core profit YoY: -43.4%
· reported profit -41.3%
Cash & debt
FY26 cash from operations −₹22.0 Cr:
-57% of FY26 net profit of ₹38.8 Cr.
Borrowings ₹226 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹447 ₹496
+10.9% above Net profit ₹8.1 ₹8.3
+1.8% in line
Profit +545% above its own trend Operating margin expanded 334 bps YoY 54% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-4.9% +13.4%
1,272 1,121 1,337 Operating profit
+36.4% +21.6%
141 116 103 OPM %
+334 bps +74 bps
11.1% 10.3% 7.7% Other income
-64.5% -19.0%
20.2 25.0 57.0 Net profit
+986.3% —
240 6.8 22.1 PAT margin %
+1724 bps +1829 bps
18.9% 0.6% 1.7% EPS (₹)
+985.0% —
34.72 0.98 3.20
Quality of profit
Pre-tax profit ₹37.7 Cr: core business ₹17.5 Cr, other income ₹20.2 Cr.
Core profit YoY: from loss
· reported profit +986.3%
Cash & debt
FY26 cash from operations ₹596 Cr:
240% of FY26 net profit of ₹248 Cr.
Borrowings ₹1,613 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,410 ₹1,272
-9.8% below Net profit ₹37.3 ₹240
+544.7% above
Profit +53% above its own trend Operating margin expanded 262 bps YoY 25% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +151%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+52.6% +11.9%
62.5 55.8 40.9 Operating profit
+67.8% +41.2%
18.1 12.8 10.8 OPM %
+262 bps +602 bps
29.0% 22.9% 26.3% Other income
+304.0% +31.0%
1.0 0.8 0.2 Net profit
+206.4% from loss 3.4 -0.7 1.1 PAT margin %
+271 bps +661 bps
5.4% -1.2% 2.7% EPS (₹)
+205.2% from loss 2.93 -0.59 0.96
Quality of profit
Pre-tax profit ₹4.0 Cr: core business ₹3.0 Cr, other income ₹1.0 Cr.
Core profit YoY: +150.8%
· reported profit +206.4%
Cash & debt
FY26 cash from operations ₹32.0 Cr:
554% of FY26 net profit of ₹5.8 Cr.
Borrowings ₹203 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹61.2 ₹62.5
+2.1% in line Net profit ₹2.2 ₹3.4
+53.2% above
M Cap ₹956 Cr
P/E 21.6
PEG 0.10
Profit -31% below its own trend Operating margin expanded 423 bps YoY 62% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +192%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-7.7% +45.7%
202 139 219 Operating profit
+22.2% +4.7%
35.0 33.4 28.6 OPM %
+423 bps -678 bps
17.3% 24.1% 13.1% Other income
-50.2% -18.2%
7.0 8.6 14.1 Net profit?
+22.5% +15.5%
11.0 9.5 9.0 PAT margin %
+134 bps -142 bps
5.4% 6.9% 4.1% EPS (₹)
+13.5% +10.1%
6.73 6.11 5.93
Quality of profit
Pre-tax profit ₹13.0 Cr: core business ₹5.0 Cr, other income ₹7.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +192.4%
· reported profit +22.5%
Cash & debt
FY26 cash from operations ₹95.0 Cr:
165% of FY26 net profit of ₹57.7 Cr.
Borrowings ₹798 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹337 ₹202
-40.1% below Net profit ₹16.0 ₹11.0
-31.2% below
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, 19:16 IST
