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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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
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M Cap ₹19,283 Cr
P/E 138.2
PEG 0.92
Operating margin expanded 143 bps YoY 33% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +3%) Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+27.6% +2.1%
162 159 127 Operating profit
+32.6% -2.0%
61.0 62.2 46.0 OPM %
+143 bps -154 bps
37.7% 39.2% 36.2% Other income
+466.7% +108.9%
17.0 8.1 3.0 Net profit?
+48.0% +6.6%
37.0 34.7 25.0 PAT margin %
+315 bps +97 bps
22.8% 21.9% 19.7% EPS (₹)
+42.5% +4.3%
5.57 5.34 3.91
Quality of profit
Pre-tax profit ₹51.0 Cr: core business ₹34.0 Cr, other income ₹17.0 Cr.
Core profit YoY: +3.0%
· reported profit +48.0%
Cash & debt
FY26 cash from operations −₹119 Cr:
-89% of FY26 net profit of ₹134 Cr.
Borrowings ₹474 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹170 ₹162
-4.9% in line Net profit ₹40.4 ₹37.0
-8.3% in line
M Cap ₹19,277 Cr
P/E 35.2
PEG 2.51
Profit +211% above its own trend Operating margin expanded 783 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+12.4% +17.5%
1,373 1,168 1,222 Operating profit
+90.1% +30.7%
263 201 138 OPM %
+783 bps +193 bps
19.2% 17.2% 11.3% Other income
-27.8% -22.8%
9.0 11.7 12.5 Net profit?
+263.6% +82.2%
157 86.2 43.2 PAT margin %
+790 bps +406 bps
11.4% 7.4% 3.5% EPS (₹)
+266.3% +77.5%
9.78 5.51 2.67
Quality of profit
Pre-tax profit ₹224 Cr: core business ₹215 Cr, other income ₹9.0 Cr.
Core profit YoY: +141.7%
· reported profit +263.6%
Cash & debt
FY26 cash from operations ₹664 Cr:
136% of FY26 net profit of ₹487 Cr.
Borrowings ₹229 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,218 ₹1,373
+12.7% above Net profit ₹50.4 ₹157
+211.3% above
M Cap ₹19,187 Cr
P/E 20.0
PEG 3.33
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+8.6% +7.3%
1,545 1,440 1,422 Operating profit
+7.2% -10.6%
329 368 307 OPM %
-29 bps -426 bps
21.3% 25.6% 21.6% Other income
-28.1% from loss 23.0 -9.0 32.0 Net profit
+3.9% -1.2%
242 245 233 PAT margin %
-72 bps -135 bps
15.7% 17.0% 16.4% EPS (₹)
+3.8% -0.8%
2.45 2.47 2.36
Quality of profit
Pre-tax profit ₹323 Cr: core business ₹299 Cr, other income ₹23.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +6.8%
· reported profit +3.9%
Cash & debt
Borrowings ₹63.0 Cr at Dec 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹1,518 ₹1,545
+1.8% in line Net profit ₹248 ₹242
-2.5% in line
M Cap ₹19,127 Cr
P/E 29.6
PEG —
Profit +175% above its own trend 49% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +283%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+8.9% +23.9%
2,610 2,106 2,397 Operating profit
+16.3% +32.5%
371 280 319 OPM %
+91 bps +92 bps
14.2% 13.3% 13.3% Other income
+273.9% -82.7%
86.0 496 23.0 Net profit?
+450.9% -60.8%
151 386 27.4 PAT margin %
+464 bps -1252 bps
5.8% 18.3% 1.1% EPS (₹)
+450.0% -60.9%
6.38 16.31 1.16
Quality of profit
Pre-tax profit ₹173 Cr: core business ₹88.0 Cr, other income ₹86.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +282.6%
· reported profit +450.9%
Cash & debt
FY26 cash from operations ₹1,611 Cr:
230% of FY26 net profit of ₹699 Cr.
Borrowings ₹3,871 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹2,460 ₹2,610
+6.1% above Net profit ₹54.8 ₹151
+175.4% above
M Cap ₹19,094 Cr
P/E 114.8
PEG —
71% of pre-tax profit came from other income and one-off items
₹ Cr QoQ
Mar 2026 Dec 2025
Sales
+121.7%
323 146 Operating profit
+716.5%
55.0 6.7 OPM %
+1240 bps
17.0% 4.6% Other income
+549.2%
89.0 13.7 Net profit?
from loss 128 -1.0 PAT margin %
+4033 bps
39.6% -0.7% EPS (₹)
from loss 7.29 -0.14
Quality of profit
Pre-tax profit ₹127 Cr: core business ₹37.0 Cr, other income ₹89.0 Cr, exceptional & other items ₹1.0 Cr.
M Cap ₹19,078 Cr
P/E 150.3
PEG —
Turnaround: profit against a loss a year ago Operating margin expanded 561 bps YoY 74% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+17.0% -5.8%
701 744 599 Operating profit
+86.0% -19.7%
106 132 57.0 OPM %
+561 bps -262 bps
15.1% 17.7% 9.5% Other income
+316.7% +117.4%
50.0 23.0 12.0 Net profit?
from loss +40.5%
59.0 42.0 -29.0 PAT margin %
+1326 bps +277 bps
8.4% 5.6% -4.8% EPS (₹)
from loss +40.5%
0.52 0.37 -0.34
Quality of profit
Pre-tax profit ₹68.0 Cr: core business ₹18.0 Cr, other income ₹50.0 Cr.
Core profit YoY: from loss
M Cap ₹19,042 Cr
P/E 64.0
PEG 0.59
Profit +431% above its own trend Operating margin expanded 425 bps YoY 38% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +124%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+32.1% +6.7%
437 410 331 Operating profit
+56.3% +5.0%
120 114 76.8 OPM %
+425 bps -44 bps
27.5% 27.9% 23.2% Other income
+494.2% —
45.0 0.8 7.6 Net profit?
+644.5% +142.2%
108 44.6 14.5 PAT margin %
+2033 bps +1383 bps
24.7% 10.9% 4.4% EPS (₹)
+644.6% +133.5%
5.51 2.36 adj. 0.74
EPS restated for the 1:1 bonus of Oct 2025: Mar 2025 ₹1.48 to ₹0.74.
Quality of profit
Pre-tax profit ₹120 Cr: core business ₹75.0 Cr, other income ₹45.0 Cr.
Core profit YoY: +124.0%
· reported profit +644.5%
Cash & debt
FY26 cash from operations ₹342 Cr:
140% of FY26 net profit of ₹243 Cr.
Borrowings ₹660 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹400 ₹437
+9.4% above Net profit ₹20.3 ₹108
+430.8% above
M Cap ₹19,002 Cr
P/E 24.2
PEG 0.69
Profit -42% below its own trend Operating margin expanded 173 bps YoY 29% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +10%) Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-0.2% -7.4%
1,458 1,575 1,460 Operating profit
+7.2% +10.3%
365 331 340 OPM %
+173 bps +403 bps
25.0% 21.0% 23.3% Other income
+0.1% +50.7%
72.0 47.8 71.9 Net profit?
-23.3% -7.3%
191 206 249 PAT margin %
-395 bps +2 bps
13.1% 13.1% 17.1% EPS (₹)
-21.5% —
5.95 7.63 adj. 7.58
EPS restated for the 1:3 bonus of Jun 2026: Mar 2025 ₹10.10 to ₹7.58. No EPS growth against Dec 2025: 1:3 bonus in Jun 2026.
Quality of profit
Pre-tax profit ₹245 Cr: core business ₹173 Cr, other income ₹72.0 Cr.
Core profit YoY: +9.7%
· reported profit -23.3%
Cash & debt
FY26 cash from operations −₹137 Cr:
-19% of FY26 net profit of ₹725 Cr.
Borrowings ₹6,344 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,654 ₹1,458
-11.8% below Net profit ₹331 ₹191
-42.3% below
M Cap ₹19,000 Cr
P/E 43.9
PEG 1.05
Profit -92% below its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Total income
+12.0% -0.1%
466 467 416 Net interest income
— —
368 — — Other income
— —
-4.0 — — Net profit?
-86.9% +63.3%
34.0 20.8 260 EPS (₹)
-94.3% from loss 0.05 -0.06 0.87
Against its own trend ?
Trend Actual Gap
Net profit ₹439 ₹34.0
-92.3% below
M Cap ₹18,947 Cr
P/E 74.3
PEG 3.91
Operating margin contracted 156 bps YoY FY26 operating cash flow was only 45% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+24.7% +7.5%
461 429 369 Operating profit
+15.9% +0.6%
94.7 94.1 81.7 OPM %
-156 bps -141 bps
20.5% 22.0% 22.1% Other income
+11.0% +106.0%
14.6 7.1 13.1 Net profit?
+14.8% +24.0%
75.2 60.7 65.5 PAT margin %
-140 bps +217 bps
16.3% 14.2% 17.7% EPS (₹)
+14.8% +23.9%
8.29 6.69 7.22
Quality of profit
Pre-tax profit ₹99.9 Cr: core business ₹82.1 Cr, other income ₹14.6 Cr, exceptional & other items ₹3.2 Cr.
Core profit YoY: +12.0%
· reported profit +14.8%
Cash & debt
FY26 cash from operations ₹117 Cr:
45% of FY26 net profit of ₹258 Cr.
Borrowings ₹81.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹453 ₹461
+1.7% in line Net profit ₹78.3 ₹75.2
-3.9% in line
M Cap ₹18,808 Cr
P/E 9.6
PEG —
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+17.0% +20.8%
1,552 1,285 1,326 Operating profit
+17.4% +15.5%
257 223 219 OPM %
+4 bps -75 bps
16.6% 17.3% 16.5% Other income
+83.3% +135.3%
11.0 4.7 6.0 Net profit?
+19.3% +40.6%
167 119 140 PAT margin %
+20 bps +152 bps
10.8% 9.2% 10.6% EPS (₹)
+19.0% +40.5%
4.13 2.94 3.47
Quality of profit
Pre-tax profit ₹231 Cr: core business ₹219 Cr, other income ₹11.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +17.7%
· reported profit +19.3%
M Cap ₹18,702 Cr
P/E —
PEG —
₹ Cr
Mar 2026
Sales
168 Operating profit
103 OPM %
61.3% Other income
3.0 Net profit?
68.0 PAT margin %
40.5% EPS (₹)
6.71
Dec 2025 and Mar 2025 are not on record for this company, so there is nothing to compare with yet.
Quality of profit
Pre-tax profit ₹85.0 Cr: core business ₹83.0 Cr, other income ₹3.0 Cr, exceptional & other items −₹1.0 Cr.
M Cap ₹18,544 Cr
P/E 25.2
PEG 3.15
Profit -51% below its own trend Core business grew faster than reported profit (core profit +5%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+6.2% -2.5%
629 645 592 Operating profit
+3.5% +3.5%
236 228 228 OPM %
-99 bps +217 bps
37.5% 35.3% 38.5% Other income
-77.0% from loss 50.0 -20.0 217 Net profit
-39.6% +40.8%
200 142 331 PAT margin %
-2412 bps +978 bps
31.8% 22.0% 55.9% EPS (₹)
-39.6% +40.9%
43.68 31.00 72.34
Quality of profit
Pre-tax profit ₹269 Cr: core business ₹219 Cr, other income ₹50.0 Cr.
Core profit YoY: +4.8%
· reported profit -39.6%
Cash & debt
FY26 cash from operations ₹968 Cr:
134% of FY26 net profit of ₹723 Cr.
Borrowings ₹70.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹643 ₹629
-2.2% in line Net profit ₹408 ₹200
-51.0% below
M Cap ₹18,520 Cr
P/E 41.3
PEG 2.58
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+12.1% +10.9%
1,113 1,003 993 Operating profit
+15.3% +20.2%
173 144 150 OPM %
+44 bps +120 bps
15.5% 14.3% 15.1% Other income
+22.2% -10.2%
22.0 24.5 18.0 Net profit?
+25.5% +34.5%
128 95.2 102 PAT margin %
+123 bps +201 bps
11.5% 9.5% 10.3% EPS (₹)
+25.5% +34.2%
4.04 3.01 3.22
Quality of profit
Pre-tax profit ₹164 Cr: core business ₹142 Cr, other income ₹22.0 Cr.
Core profit YoY: +16.4%
· reported profit +25.5%
Cash & debt
FY26 cash from operations ₹454 Cr:
106% of FY26 net profit of ₹430 Cr.
Borrowings ₹533 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,122 ₹1,113
-0.8% in line Net profit ₹126 ₹128
+1.9% in line
M Cap ₹18,282 Cr
P/E 55.8
PEG 4.29
Profit +20% above its own trend Operating margin expanded 231 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+20.5% +8.4%
424 391 352 Operating profit
+30.0% +10.5%
133 120 102 OPM %
+231 bps +60 bps
31.4% 30.8% 29.1% Other income
-40.9% -26.5%
6.0 8.2 10.1 Net profit
+24.0% +6.4%
84.0 78.9 67.8 PAT margin %
+56 bps -36 bps
19.8% 20.2% 19.3% EPS (₹)
+23.2% +5.9%
8.86 8.37 7.19
Quality of profit
Pre-tax profit ₹111 Cr: core business ₹104 Cr, other income ₹6.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +30.8%
· reported profit +24.0%
Cash & debt
FY26 cash from operations ₹445 Cr:
147% of FY26 net profit of ₹302 Cr.
Borrowings ₹330 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹366 ₹424
+15.8% above Net profit ₹69.8 ₹84.0
+20.4% above
M Cap ₹18,261 Cr
P/E 27.8
PEG 1.11
Operating margin contracted 508 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+8.2% +2.5%
895 873 827 Operating profit
-4.8% -11.2%
334 376 351 OPM %
-508 bps -579 bps
37.3% 43.1% 42.4% Other income
+19.7% +110.0%
78.0 37.1 65.1 Net profit?
-4.8% -2.3%
249 255 262 PAT margin %
-380 bps -136 bps
27.8% 29.2% 31.6% EPS (₹)
-5.9% -2.3%
3.80 3.89 4.04
Quality of profit
Pre-tax profit ₹368 Cr: core business ₹290 Cr, other income ₹78.0 Cr.
Core profit YoY: -7.0%
· reported profit -4.8%
Cash & debt
FY26 cash from operations ₹993 Cr:
151% of FY26 net profit of ₹657 Cr.
Borrowings ₹252 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹902 ₹895
-0.8% in line Net profit ₹234 ₹249
+6.2% in line
M Cap ₹18,078 Cr
P/E 24.8
PEG 1.77
Operating margin expanded 132 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+23.2% +3.5%
1,107 1,070 898 Operating profit
+29.9% +2.9%
284 276 219 OPM %
+132 bps -14 bps
25.7% 25.8% 24.3% Other income
-6.0% +0.0%
30.0 30.0 31.9 Net profit?
+24.6% -1.0%
190 192 153 PAT margin %
+18 bps -78 bps
17.2% 17.9% 17.0% EPS (₹)
+24.4% -1.3%
20.13 20.40 adj. 16.18
EPS restated for the 1:1 bonus of Mar 2026: Mar 2025 ₹32.37 to ₹16.18.
Quality of profit
Pre-tax profit ₹252 Cr: core business ₹222 Cr, other income ₹30.0 Cr.
Core profit YoY: +33.1%
· reported profit +24.6%
Cash & debt
FY26 cash from operations ₹873 Cr:
123% of FY26 net profit of ₹707 Cr.
Borrowings ₹385 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,080 ₹1,107
+2.5% in line Net profit ₹196 ₹190
-3.2% in line
M Cap ₹18,074 Cr
P/E 12.7
PEG 2.11
Profit +13% above its own trend Operating margin contracted 280 bps YoY 81% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -29%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+5.6% +2.3%
4,096 4,005 3,877 Operating profit
-8.5% -4.6%
743 779 812 OPM %
-280 bps -131 bps
18.1% 19.5% 20.9% Other income
+81.2% +106.6%
531 257 293 Net profit?
+19.2% +51.0%
459 304 385 PAT margin %
+128 bps +362 bps
11.2% 7.6% 9.9% EPS (₹)
+17.8% +54.0%
3.31 2.15 2.81
Quality of profit
Pre-tax profit ₹653 Cr: core business ₹122 Cr, other income ₹531 Cr.
Core profit YoY: -29.5%
· reported profit +19.2%
Cash & debt
FY26 cash from operations ₹4,057 Cr:
252% of FY26 net profit of ₹1,612 Cr.
Borrowings ₹21,671 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹4,399 ₹4,096
-6.9% below Net profit ₹408 ₹459
+12.5% above
M Cap ₹18,048 Cr
P/E 30.0
PEG 2.15
Profit +185% above its own trend Operating margin contracted 427 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-8.2% -6.3%
4,633 4,943 5,047 Operating profit
-35.1% -22.0%
478 613 736 OPM %
-427 bps -208 bps
10.3% 12.4% 14.6% Other income
-17.9% +3.2%
23.0 22.3 28.0 Net profit?
+42.5% -49.9%
124 248 87.0 PAT margin %
+95 bps -233 bps
2.7% 5.0% 1.7% EPS (₹)
-52.1% -46.2%
2.18 4.05 4.55
Quality of profit
Pre-tax profit ₹172 Cr: core business ₹148 Cr, other income ₹23.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: -66.7%
· reported profit +42.5%
Cash & debt
FY26 cash from operations ₹1,771 Cr:
191% of FY26 net profit of ₹926 Cr.
Borrowings ₹4,691 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹4,435 ₹4,633
+4.5% in line Net profit ₹43.5 ₹124
+185.1% above
M Cap ₹17,951 Cr
P/E 26.5
PEG 1.32
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+19.5% +10.5%
600 543 502 Operating profit
+21.4% +7.4%
204 190 168 OPM %
+53 bps -99 bps
34.0% 35.0% 33.5% Other income
+7.7% -17.6%
28.0 34.0 26.0 Net profit?
+19.3% +4.2%
173 166 145 PAT margin %
-5 bps -174 bps
28.8% 30.6% 28.9% EPS (₹)
+19.3% +3.8%
22.38 21.56 18.76
Quality of profit
Pre-tax profit ₹213 Cr: core business ₹185 Cr, other income ₹28.0 Cr.
Core profit YoY: +22.5%
· reported profit +19.3%
Cash & debt
FY26 cash from operations ₹523 Cr:
80% of FY26 net profit of ₹650 Cr.
Borrowings ₹5.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹555 ₹600
+8.0% above Net profit ₹174 ₹173
-0.7% in line
M Cap ₹17,833 Cr
P/E 33.8
PEG 0.56
Profit -13% below its own trend Operating margin expanded 150 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+6.9% -4.1%
558 582 522 Operating profit
+10.4% +0.3%
266 265 241 OPM %
+150 bps +210 bps
47.7% 45.6% 46.2% Other income
-13.3% +72.5%
13.0 7.5 15.0 Net profit?
+31.5% +31.4%
163 124 124 PAT margin %
+546 bps +788 bps
29.2% 21.3% 23.8% EPS (₹)
+31.2% +31.2%
7.44 5.67 5.67
Quality of profit
Pre-tax profit ₹178 Cr: core business ₹165 Cr, other income ₹13.0 Cr.
Core profit YoY: +15.4%
· reported profit +31.5%
Cash & debt
FY26 cash from operations ₹1,067 Cr:
165% of FY26 net profit of ₹645 Cr.
Borrowings ₹2,368 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹840 ₹558
-33.6% below Net profit ₹187 ₹163
-12.6% below
M Cap ₹17,695 Cr
P/E 33.3
PEG —
Operating margin expanded 171 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+13.1% -4.9%
2,205 2,319 1,949 Operating profit
+27.2% +5.9%
341 322 268 OPM %
+171 bps +158 bps
15.5% 13.9% 13.8% Other income
from loss -50.0%
1.0 2.0 -3.0 Net profit?
+42.7% +3.0%
137 133 96.0 PAT margin %
+129 bps +48 bps
6.2% 5.7% 4.9% EPS (₹)
+43.2% +3.0%
3.78 3.67 2.64
Quality of profit
Pre-tax profit ₹111 Cr: core business ₹110 Cr, other income ₹1.0 Cr.
Core profit YoY: +20.9%
· reported profit +42.7%
Cash & debt
FY26 cash from operations ₹775 Cr:
185% of FY26 net profit of ₹419 Cr.
Borrowings ₹4,966 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹2,299 ₹2,205
-4.1% in line Net profit ₹133 ₹137
+3.2% in line
M Cap ₹17,659 Cr
P/E 21.8
PEG 2.42
Profit +20% above its own trend Operating margin expanded 401 bps YoY 31% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +100%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+15.0% +6.1%
1,670 1,574 1,452 Operating profit
+51.0% +13.8%
281 247 186 OPM %
+401 bps +113 bps
16.8% 15.7% 12.8% Other income
+84.0% +130.0%
92.0 40.0 50.0 Net profit?
+62.1% +29.0%
211 164 130 PAT margin %
+367 bps +224 bps
12.6% 10.4% 9.0% EPS (₹)
+66.1% +30.7%
71.38 54.60 42.97
Quality of profit
Pre-tax profit ₹289 Cr: core business ₹198 Cr, other income ₹92.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +99.8%
· reported profit +62.1%
Cash & debt
FY26 cash from operations ₹1,023 Cr:
148% of FY26 net profit of ₹689 Cr.
Borrowings ₹183 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,620 ₹1,670
+3.1% in line Net profit ₹176 ₹211
+19.9% above
M Cap ₹17,635 Cr
P/E 33.0
PEG —
Profit -49% below its own trend Operating margin contracted 342 bps YoY 27% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-36.7% +1.8%
1,085 1,066 1,715 Operating profit
-49.0% -24.9%
154 205 302 OPM %
-342 bps -504 bps
14.2% 19.2% 17.6% Other income
+355.6% +177.4%
41.0 14.8 9.0 Net profit?
-42.9% -14.1%
116 135 203 PAT margin %
-115 bps -197 bps
10.7% 12.7% 11.8% EPS (₹)
-49.5% -4.7%
14.93 15.67 29.55
Quality of profit
Pre-tax profit ₹154 Cr: core business ₹113 Cr, other income ₹41.0 Cr.
Core profit YoY: -57.5%
· reported profit -42.9%
Cash & debt
FY26 cash from operations ₹936 Cr:
175% of FY26 net profit of ₹534 Cr.
Borrowings ₹318 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,818 ₹1,085
-40.3% below Net profit ₹228 ₹116
-49.2% below
M Cap ₹17,617 Cr
P/E 66.6
PEG 3.33
Operating margin contracted 161 bps YoY Core business grew faster than reported profit (core profit +32%) Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+82.5% +3.8%
814 784 446 Operating profit
+62.2% +4.6%
105 100 64.7 OPM %
-161 bps +10 bps
12.9% 12.8% 14.5% Other income
-20.8% +5.3%
13.0 12.3 16.4 Net profit?
+1.9% +11.7%
60.0 53.7 58.9 PAT margin %
-583 bps +53 bps
7.4% 6.8% 13.2% EPS (₹)
-0.2% +9.9%
5.53 5.03 5.54
Quality of profit
Pre-tax profit ₹74.0 Cr: core business ₹60.0 Cr, other income ₹13.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +32.0%
· reported profit +1.9%
Cash & debt
FY26 cash from operations −₹21.0 Cr:
-9% of FY26 net profit of ₹244 Cr.
Borrowings ₹756 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹553 ₹814
+47.1% above Net profit ₹64.8 ₹60.0
-7.3% in line
M Cap ₹17,470 Cr
P/E 17.7
PEG —
Profit -55% below its own trend Operating margin contracted 624 bps YoY FY26 operating cash flow was only 28% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+12.9% +6.4%
3,011 2,830 2,667 Operating profit
-26.2% +0.2%
354 353 480 OPM %
-624 bps -72 bps
11.8% 12.5% 18.0% Other income
-87.9% -87.0%
6.0 46.2 49.6 Net profit?
-50.0% -1.8%
139 141 278 PAT margin %
-580 bps -38 bps
4.6% 5.0% 10.4% EPS (₹)
-49.7% -1.5%
11.04 11.21 21.96
Quality of profit
Pre-tax profit ₹161 Cr: core business ₹155 Cr, other income ₹6.0 Cr.
Core profit YoY: -42.7%
· reported profit -50.0%
Cash & debt
FY26 cash from operations ₹206 Cr:
28% of FY26 net profit of ₹738 Cr.
Borrowings ₹5,670 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹3,018 ₹3,011
-0.2% in line Net profit ₹309 ₹139
-55.0% below
M Cap ₹17,446 Cr
P/E 99.6
PEG —
Profit +52% above its own trend 49% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+16.1% +23.0%
933 758 804 Operating profit
+20.8% +68.1%
70.0 41.6 58.0 OPM %
+29 bps +201 bps
7.5% 5.5% 7.2% Other income
+16.6% +28.1%
38.0 29.7 32.6 Net profit?
+33.8% +336.6%
64.0 14.7 47.8 PAT margin %
+91 bps +493 bps
6.9% 1.9% 6.0% EPS (₹)
+33.2% +334.5%
59.62 13.72 44.76
Quality of profit
Pre-tax profit ₹78.0 Cr: core business ₹40.0 Cr, other income ₹38.0 Cr.
Core profit YoY: +39.1%
· reported profit +33.8%
Cash & debt
FY26 cash from operations ₹177 Cr:
136% of FY26 net profit of ₹131 Cr.
Borrowings nil at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹812 ₹933
+14.9% above Net profit ₹42.0 ₹64.0
+52.3% above
M Cap ₹17,360 Cr
P/E —
PEG —
Into loss: a profit a year ago Operating margin contracted 895 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+47.4% +12.5%
367 326 249 Operating profit
-84.0% -86.2%
4.0 29.0 25.0 OPM %
-895 bps -781 bps
1.1% 8.9% 10.0% Other income
+131.6% +385.8%
44.0 9.1 19.0 Net profit?
to loss loss widened -54.0 -42.7 9.0 PAT margin %
-1833 bps -163 bps
-14.7% -13.1% 3.6% EPS (₹)
to loss loss widened -0.80 -0.70 0.15
Quality of profit
Pre-tax profit −₹33.0 Cr: core business −₹78.0 Cr, other income ₹44.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: loss widened
M Cap ₹17,143 Cr
P/E —
PEG —
28% of pre-tax profit came from other income and one-off items
₹ Cr QoQ
Mar 2026 Dec 2025
Sales
+6.7%
1,237 1,160 Operating profit
+22.0%
81.0 66.5 OPM %
+82 bps
6.6% 5.7% Other income
+139.4%
15.5 6.5 Net profit?
+60.2%
55.8 34.9 PAT margin %
+151 bps
4.5% 3.0% EPS (₹)
+37.7%
0.95 0.69
Quality of profit
Pre-tax profit ₹54.9 Cr: core business ₹39.3 Cr, other income ₹15.5 Cr.
M Cap ₹16,961 Cr
P/E —
PEG —
₹ Cr
Mar 2026
Sales
561 Operating profit
159 OPM %
28.3% Other income
5.0 Net profit?
96.0 PAT margin %
17.1% EPS (₹)
8.06
Dec 2025 and Mar 2025 are not on record for this company, so there is nothing to compare with yet.
Quality of profit
Pre-tax profit ₹132 Cr: core business ₹127 Cr, other income ₹5.0 Cr.
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
