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: 43 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
Latest Q4 FY26 results 5115
Page 17 of 171
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M Cap ₹15,277 Cr
P/E 69.1
PEG —
Operating margin contracted 451 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+1.8% +13.0%
1,036 917 1,018 Operating profit
-11.8% +45.0%
303 209 344 OPM %
-451 bps +646 bps
29.2% 22.8% 33.8% Other income
-15.3% from loss 16.0 -55.0 18.9 Net profit?
-19.3% +886.7%
148 15.0 183 PAT margin %
-372 bps +1265 bps
14.3% 1.6% 18.0% EPS (₹)
-19.5% +891.9%
3.67 0.37 4.56
Quality of profit
Pre-tax profit ₹196 Cr: core business ₹179 Cr, other income ₹16.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: -19.2%
· reported profit -19.3%
Cash & debt
FY26 cash from operations ₹915 Cr:
289% of FY26 net profit of ₹317 Cr.
Borrowings ₹458 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,084 ₹1,036
-4.4% in line Net profit ₹147 ₹148
+0.7% in line
M Cap ₹15,269 Cr
P/E 16.0
PEG —
Profit -14% below its own trend Operating margin contracted 1190 bps YoY 79% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -70%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+3.5% +40.6%
814 579 786 Operating profit
-46.4% -42.0%
104 179 194 OPM %
-1190 bps -1819 bps
12.8% 31.0% 24.7% Other income
+56.8% +83.2%
185 101 118 Net profit?
-14.2% +45.8%
194 133 226 PAT margin %
-494 bps +86 bps
23.8% 23.0% 28.8% EPS (₹)
-14.3% +45.9%
6.10 4.18 7.12
Quality of profit
Pre-tax profit ₹235 Cr: core business ₹50.0 Cr, other income ₹185 Cr.
Core profit YoY: -70.1%
· reported profit -14.2%
Cash & debt
FY26 cash from operations ₹744 Cr:
78% of FY26 net profit of ₹957 Cr.
Borrowings ₹317 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹702 ₹814
+16.0% above Net profit ₹225 ₹194
-13.7% below
M Cap ₹15,255 Cr
P/E 114.2
PEG 3.94
Profit +19% above its own trend FY26 operating cash flow was only 0% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+40.0% +14.9%
480 418 343 Operating profit
+37.5% +18.6%
56.9 48.0 41.4 OPM %
-21 bps +36 bps
11.8% 11.5% 12.1% Other income
+275.2% +60.4%
11.9 7.4 3.2 Net profit?
+69.5% +26.2%
41.2 32.6 24.3 PAT margin %
+149 bps +77 bps
8.6% 7.8% 7.1% EPS (₹)
+67.8% +26.0%
6.16 4.89 3.67
Quality of profit
Pre-tax profit ₹56.3 Cr: core business ₹44.3 Cr, other income ₹11.9 Cr.
Core profit YoY: +50.8%
· reported profit +69.5%
Cash & debt
FY26 cash from operations ₹0.0 Cr:
0% of FY26 net profit of ₹113 Cr.
Borrowings ₹213 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹526 ₹480
-8.7% below Net profit ₹34.7 ₹41.2
+18.6% above
M Cap ₹15,243 Cr
P/E 21.1
PEG —
Operating margin expanded 522 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+10.9% +16.9%
1,895 1,621 1,709 Operating profit
+52.1% +28.1%
365 285 240 OPM %
+522 bps +168 bps
19.3% 17.6% 14.0% Other income
-21.4% -74.5%
22.0 86.1 28.0 Net profit?
— +177.1%
362 131 16.0 PAT margin %
+1817 bps +1105 bps
19.1% 8.1% 0.9% EPS (₹)
+700.0% +156.6%
2.72 1.06 0.34
Quality of profit
Pre-tax profit ₹215 Cr: core business ₹192 Cr, other income ₹22.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +308.5%
M Cap ₹15,239 Cr
P/E 41.1
PEG 4.11
Profit -28% below its own trend Operating margin contracted 654 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+6.7% +10.3%
1,604 1,454 1,504 Operating profit
-22.0% +41.1%
285 202 365 OPM %
-654 bps +387 bps
17.8% 13.9% 24.3% Other income
+8.0% +24.2%
21.6 17.4 20.0 Net profit?
-30.4% +40.7%
160 113 229 PAT margin %
-529 bps +215 bps
9.9% 7.8% 15.2% EPS (₹)
-30.4% +40.6%
7.90 5.62 11.35
Quality of profit
Pre-tax profit ₹236 Cr: core business ₹215 Cr, other income ₹21.6 Cr.
Core profit YoY: -26.4%
· reported profit -30.4%
Cash & debt
FY26 cash from operations ₹599 Cr:
158% of FY26 net profit of ₹378 Cr.
Borrowings ₹3,170 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,733 ₹1,604
-7.4% below Net profit ₹221 ₹160
-27.8% below
M Cap ₹15,232 Cr
P/E 38.9
PEG 0.61
Profit +306% above its own trend Operating margin expanded 338 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+105.6% +18.0%
2,839 2,406 1,381 Operating profit
+273.0% +24.4%
214 172 57.4 OPM %
+338 bps +39 bps
7.5% 7.1% 4.2% Other income
— loss narrowed 0.0 -2.0 0.0 Net profit
+355.4% +36.2%
143 105 31.4 PAT margin %
+276 bps +67 bps
5.0% 4.4% 2.3% EPS (₹)
+350.9% +36.2%
45.90 33.71 10.18
Quality of profit
Pre-tax profit ₹182 Cr: core business ₹182 Cr, other income ₹0.0 Cr.
Core profit YoY: +368.7%
· reported profit +355.4%
Cash & debt
FY26 cash from operations ₹322 Cr:
91% of FY26 net profit of ₹352 Cr.
Borrowings ₹913 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,966 ₹2,839
+44.4% above Net profit ₹35.2 ₹143
+306.1% above
M Cap ₹15,222 Cr
P/E 61.3
PEG 0.52
Profit +197% above its own trend Operating margin expanded 609 bps YoY Core business grew faster than reported profit (core profit +425%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+37.1% +9.1%
657 602 479 Operating profit
+185.2% +18.5%
77.0 65.0 27.0 OPM %
+609 bps +92 bps
11.7% 10.8% 5.6% Other income
-9.5% +18.8%
19.0 16.0 21.0 Net profit?
+204.8% +38.0%
69.0 50.0 22.6 PAT margin %
+578 bps +220 bps
10.5% 8.3% 4.7% EPS (₹)
+176.6% +38.3%
2.13 1.54 0.77
Quality of profit
Pre-tax profit ₹82.0 Cr: core business ₹63.0 Cr, other income ₹19.0 Cr.
Core profit YoY: +425.0%
· reported profit +204.8%
Cash & debt
FY26 cash from operations ₹141 Cr:
71% of FY26 net profit of ₹199 Cr.
Borrowings ₹135 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹536 ₹657
+22.5% above Net profit ₹23.2 ₹69.0
+197.3% above
M Cap ₹15,173 Cr
P/E 7.9
PEG 0.31
Operating margin expanded 248 bps YoY Core business grew faster than reported profit (core profit +98%) FY26 operating cash flow was only 7% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+13.7% -52.8%
2,785 5,898 2,449 Operating profit
+56.1% -68.9%
255 821 163 OPM %
+248 bps -476 bps
9.2% 13.9% 6.7% Other income
-4.1% +275.6%
53.0 14.1 55.3 Net profit?
+29.7% -71.2%
169 586 130 PAT margin %
+75 bps -387 bps
6.1% 9.9% 5.3% EPS (₹)
+29.8% -71.2%
4.22 14.64 3.25
Quality of profit
Pre-tax profit ₹215 Cr: core business ₹162 Cr, other income ₹53.0 Cr.
Core profit YoY: +98.2%
· reported profit +29.7%
Cash & debt
FY26 cash from operations ₹138 Cr:
7% of FY26 net profit of ₹1,953 Cr.
Borrowings ₹1,068 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹2,882 ₹2,785
-3.4% in line Net profit ₹159 ₹169
+6.6% in line
M Cap ₹15,151 Cr
P/E 44.1
PEG 0.30
Profit +20% above its own trend Operating margin expanded 142 bps YoY Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+80.7% +8.1%
1,912 1,768 1,058 Operating profit
+123.8% +15.6%
141 122 63.0 OPM %
+142 bps +47 bps
7.4% 6.9% 6.0% Other income
+240.0% +142.9%
17.0 7.0 5.0 Net profit?
+139.5% +12.3%
91.0 81.0 38.0 PAT margin %
+117 bps +18 bps
4.8% 4.6% 3.6% EPS (₹)
+109.2% +4.6%
5.44 5.20 2.60
Quality of profit
Pre-tax profit ₹126 Cr: core business ₹110 Cr, other income ₹17.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +144.4%
· reported profit +139.5%
Cash & debt
FY26 cash from operations −₹45.0 Cr:
-16% of FY26 net profit of ₹283 Cr.
Borrowings ₹869 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,958 ₹1,912
-2.4% in line Net profit ₹76.0 ₹91.0
+19.7% above
M Cap ₹15,126 Cr
P/E 131.4
PEG 1.73
Profit +68% above its own trend Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+81.1% +16.2%
293 252 162 Operating profit
+88.9% +34.9%
68.0 50.4 36.0 OPM %
+96 bps +323 bps
23.2% 20.0% 22.2% Other income
+310.8% +231.1%
3.0 0.9 0.7 Net profit?
+165.0% +61.7%
37.0 22.9 14.0 PAT margin %
+400 bps +356 bps
12.6% 9.1% 8.6% EPS (₹)
+128.3% +52.2%
1.05 0.69 0.46
Quality of profit
Pre-tax profit ₹55.0 Cr: core business ₹52.0 Cr, other income ₹3.0 Cr.
Core profit YoY: +144.5%
· reported profit +165.0%
Cash & debt
FY26 cash from operations −₹130 Cr:
-121% of FY26 net profit of ₹108 Cr.
Borrowings ₹543 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹232 ₹293
+26.5% above Net profit ₹22.1 ₹37.0
+67.6% above
M Cap ₹15,120 Cr
P/E 96.1
PEG —
Operating margin contracted 951 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
+24.9% +31.8%
557 422 446 Operating profit
+4.3% +1.8%
268 263 257 OPM %
-951 bps -1417 bps
48.1% 62.3% 57.6% Other income
+55.6% +91.7%
84.0 43.8 54.0 Net profit?
+164.7% +112.5%
45.0 21.2 17.0 PAT margin %
+427 bps +307 bps
8.1% 5.0% 3.8% EPS (₹)
-89.1% +75.2%
4.73 2.70 43.39
Quality of profit
Pre-tax profit ₹75.0 Cr: core business −₹9.0 Cr, other income ₹84.0 Cr.
Core profit YoY: loss narrowed
· reported profit +164.7%
M Cap ₹15,117 Cr
P/E —
PEG —
Operating margin expanded 2090 bps YoY 64% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+185.7% +36.6%
95.6 70.0 33.5 Operating profit
+335.5% +46.5%
58.1 39.6 13.3 OPM %
+2090 bps +412 bps
60.7% 56.6% 39.8% Other income
-78.5% +5.0%
5.5 5.2 25.4 Net profit
-52.7% from loss 6.4 -5.7 13.6 PAT margin %
-3392 bps +1487 bps
6.7% -8.1% 40.7% EPS (₹)
-54.4% from loss 0.31 -0.28 0.68
Quality of profit
Pre-tax profit ₹8.6 Cr: core business ₹3.1 Cr, other income ₹5.5 Cr.
Core profit YoY: from loss
· reported profit -52.7%
Cash & debt
FY26 cash from operations ₹122 Cr.
Borrowings ₹159 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹34.5 ₹95.6
+177.4% above
M Cap ₹15,078 Cr
P/E 10.9
PEG —
Gross NPA down 98 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Total income
-9.9% -2.6%
3,457 3,549 3,836 Net interest income
-13.1% -1.1%
975 986 1,122 Other income
-36.9% -15.8%
427 507 677 Net profit
+34.9% +25.4%
422 336 313 EPS (₹)
+28.3% +25.5%
0.59 0.47 0.46 Gross NPA %
-98 bps -20 bps
2.4% 2.6% 3.4% Net NPA %
-17 bps +5 bps
0.8% 0.7% 1.0%
Against its own trend ?
Trend Actual Gap
NII ₹1,205 ₹975
-19.1% below Net profit ₹424 ₹422
-0.5% in line
M Cap ₹15,076 Cr
P/E 17.5
PEG —
Profit -13% below its own trend 32% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-0.4% -0.3%
2,498 2,505 2,509 Operating profit
+2.5% +3.4%
294 284 287 OPM %
+33 bps +42 bps
11.8% 11.3% 11.4% Other income
-43.3% +16.3%
68.0 58.5 120 Net profit?
-20.5% +12.2%
189 168 238 PAT margin %
-192 bps +84 bps
7.6% 6.7% 9.5% EPS (₹)
-23.5% +9.2%
6.39 5.85 8.35
Quality of profit
Pre-tax profit ₹217 Cr: core business ₹148 Cr, other income ₹68.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: -7.8%
· reported profit -20.5%
Cash & debt
FY26 cash from operations ₹1,108 Cr:
147% of FY26 net profit of ₹753 Cr.
Borrowings ₹1,855 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹2,554 ₹2,498
-2.2% in line Net profit ₹216 ₹189
-12.6% below
M Cap ₹15,052 Cr
P/E —
PEG —
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+18.5% -0.3%
1,437 1,441 1,213 Operating profit
+18.4% -4.6%
220 231 186 OPM %
-1 bps -69 bps
15.3% 16.0% 15.3% Other income
+34.2% from loss 17.7 -10.2 13.2 Net profit?
loss narrowed loss narrowed -9.8 -11.0 -16.8 PAT margin %
+70 bps +8 bps
-0.7% -0.8% -1.4% EPS (₹)
loss narrowed —
-0.08 -0.08 -0.12
Quality of profit
Pre-tax profit −₹14.6 Cr: core business −₹32.3 Cr, other income ₹17.7 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY26 cash from operations ₹919 Cr.
Borrowings ₹3,833 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,358 ₹1,437
+5.8% above
M Cap ₹15,014 Cr
P/E 76.3
PEG 2.12
Profit -62% below its own trend Operating margin contracted 417 bps YoY FY26 operating cash flow was only 34% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-10.1% +21.6%
1,717 1,412 1,910 Operating profit
-43.9% +1.7%
119 117 212 OPM %
-417 bps -136 bps
6.9% 8.3% 11.1% Other income
-35.0% +44.4%
13.0 9.0 20.0 Net profit?
-55.2% +4.8%
65.0 62.0 145 PAT margin %
-381 bps -61 bps
3.8% 4.4% 7.6% EPS (₹)
-55.8% +4.6%
2.27 2.17 5.13
Quality of profit
Pre-tax profit ₹82.0 Cr: core business ₹69.0 Cr, other income ₹13.0 Cr.
Core profit YoY: -56.9%
· reported profit -55.2%
Cash & debt
FY26 cash from operations ₹66.0 Cr:
34% of FY26 net profit of ₹197 Cr.
Borrowings ₹597 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹2,481 ₹1,717
-30.8% below Net profit ₹169 ₹65.0
-61.6% below
M Cap ₹14,988 Cr
P/E —
PEG —
Operating margin contracted 1622 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+11.8% +56.3%
827 529 740 Operating profit
-28.5% +8.2%
238 220 333 OPM %
-1622 bps -1281 bps
28.8% 41.6% 45.0% Other income
-28.9% +42.1%
27.0 19.0 38.0 Net profit
-32.1% +8.7%
188 173 277 PAT margin %
-1470 bps -997 bps
22.7% 32.7% 37.4% EPS (₹)
-99.9% +8.7%
2.63 2.42 1939.50
Quality of profit
Pre-tax profit ₹255 Cr: core business ₹229 Cr, other income ₹27.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: -29.5%
· reported profit -32.1%
M Cap ₹14,977 Cr
P/E —
PEG —
Profit -60% below its own trend Operating margin contracted 1658 bps YoY 55% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-1.7% +30.5%
527 404 536 Operating profit
-60.0% +29.9%
60.0 46.2 150 OPM %
-1658 bps -5 bps
11.4% 11.4% 28.0% Other income
+454.3% +143.6%
37.0 15.2 6.7 Net profit?
-57.8% +118.2%
43.0 19.7 102 PAT margin %
-1085 bps +328 bps
8.2% 4.9% 19.0% EPS (₹)
-62.9% +100.7%
5.68 2.83 15.32
Quality of profit
Pre-tax profit ₹67.0 Cr: core business ₹30.0 Cr, other income ₹37.0 Cr.
Core profit YoY: -74.3%
· reported profit -57.8%
Cash & debt
FY26 cash from operations ₹350 Cr:
245% of FY26 net profit of ₹143 Cr.
Borrowings ₹398 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹564 ₹527
-6.6% below Net profit ₹107 ₹43.0
-59.8% below
M Cap ₹14,943 Cr
P/E 80.8
PEG 6.21
Profit -29% below its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+22.6% +6.4%
564 530 460 Operating profit
+22.9% +3.9%
161 155 131 OPM %
+7 bps -70 bps
28.5% 29.2% 28.5% Other income
+7.7% +40.0%
14.0 10.0 13.0 Net profit?
+16.3% +13.6%
50.0 44.0 43.0 PAT margin %
-48 bps +56 bps
8.9% 8.3% 9.3% EPS (₹)
+21.4% +16.8%
1.25 1.07 1.03
Quality of profit
Pre-tax profit ₹77.0 Cr: core business ₹62.0 Cr, other income ₹14.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +34.8%
· reported profit +16.3%
Cash & debt
FY26 cash from operations ₹519 Cr:
309% of FY26 net profit of ₹168 Cr.
Borrowings ₹1,066 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹561 ₹564
+0.5% in line Net profit ₹70.4 ₹50.0
-28.9% below
M Cap ₹14,928 Cr
P/E 42.5
PEG 0.90
Profit +35% above its own trend Operating margin contracted 310 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+18.7% +7.9%
2,290 2,122 1,929 Operating profit
-1.9% +17.3%
339 289 345 OPM %
-310 bps +118 bps
14.8% 13.6% 17.9% Other income
-16.0% from loss 10.0 -19.0 11.9 Net profit?
-21.3% +112.5%
119 56.0 151 PAT margin %
-265 bps +256 bps
5.2% 2.6% 7.8% EPS (₹)
-22.8% +113.7%
7.50 3.51 9.71
Quality of profit
Pre-tax profit ₹176 Cr: core business ₹166 Cr, other income ₹10.0 Cr.
Core profit YoY: -15.9%
· reported profit -21.3%
Cash & debt
FY26 cash from operations ₹1,227 Cr:
414% of FY26 net profit of ₹297 Cr.
Borrowings ₹3,615 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹2,140 ₹2,290
+7.0% above Net profit ₹87.8 ₹119
+35.5% above
M Cap ₹14,913 Cr
P/E 13.5
PEG 0.61
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Total income
+8.8% +0.5%
826 822 759 Net interest income
+10.2% +1.6%
636 626 577 Other income
+28.6% +28.6%
9.0 7.0 7.0 Net profit
-3.6% -2.9%
269 277 279 EPS (₹)
-3.8% -3.1%
9.12 9.41 9.48 Gross NPA %
+158 bps +19 bps
3.4% 3.2% 1.8% Net NPA %
+112 bps +6 bps
2.0% 1.9% 0.9%
Against its own trend ?
Trend Actual Gap
NII ₹672 ₹636
-5.4% below Net profit ₹296 ₹269
-9.2% in line
M Cap ₹14,891 Cr
P/E 10.4
PEG —
Profit +56% above its own trend Operating margin contracted 237 bps YoY 31% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -30%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+5.8% -16.2%
3,193 3,811 3,019 Operating profit
-12.9% -33.6%
353 532 405 OPM %
-237 bps -290 bps
11.1% 14.0% 13.4% Other income
+266.5% from loss 78.0 -26.0 21.3 Net profit?
+107.4% +74.2%
371 213 179 PAT margin %
+569 bps +603 bps
11.6% 5.6% 5.9% EPS (₹)
+106.8% +74.4%
23.72 13.60 11.47
Quality of profit
Pre-tax profit ₹254 Cr: core business ₹175 Cr, other income ₹78.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: -29.6%
· reported profit +107.4%
Cash & debt
FY26 cash from operations ₹1,234 Cr:
144% of FY26 net profit of ₹857 Cr.
Borrowings ₹2,923 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹3,237 ₹3,193
-1.4% in line Net profit ₹238 ₹371
+56.2% above
M Cap ₹14,880 Cr
P/E 49.9
PEG —
Profit +12% above its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+24.5% +10.5%
1,492 1,350 1,198 Operating profit
+31.5% +4.0%
177 170 135 OPM %
+63 bps -75 bps
11.9% 12.6% 11.2% Other income
+147.5% +194.1%
5.0 1.7 2.0 Net profit?
+48.6% +21.4%
79.0 65.0 53.1 PAT margin %
+86 bps +48 bps
5.3% 4.8% 4.4% EPS (₹)
+48.7% +22.3%
3.51 2.87 2.36
Quality of profit
Pre-tax profit ₹104 Cr: core business ₹99.0 Cr, other income ₹5.0 Cr.
Core profit YoY: +24.3%
· reported profit +48.6%
Cash & debt
FY26 cash from operations ₹457 Cr:
171% of FY26 net profit of ₹268 Cr.
Borrowings ₹1,765 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,399 ₹1,492
+6.7% above Net profit ₹70.8 ₹79.0
+11.7% above
M Cap ₹14,865 Cr
P/E 59.5
PEG 0.89
Profit -90% below its own trend Operating margin contracted 1027 bps YoY 34% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-81.7% +0.0%
178 178 974 Operating profit
-86.6% -25.4%
50.0 67.0 374 OPM %
-1027 bps -955 bps
28.1% 37.6% 38.4% Other income
-60.6% +43.8%
23.0 16.0 58.3 Net profit?
-84.3% -16.1%
47.0 56.0 299 PAT margin %
-434 bps -506 bps
26.4% 31.5% 30.7% EPS (₹)
-89.1% -42.5%
3.49 6.07 32.07
Quality of profit
Pre-tax profit ₹64.0 Cr: core business ₹42.0 Cr, other income ₹23.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: -87.9%
· reported profit -84.3%
Cash & debt
FY26 cash from operations ₹245 Cr:
90% of FY26 net profit of ₹271 Cr.
Borrowings ₹19.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,237 ₹178
-85.6% below Net profit ₹468 ₹47.0
-90.0% below
M Cap ₹14,809 Cr
P/E 23.0
PEG —
Profit +251% above its own trend Operating margin expanded 170 bps YoY Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+4.8% -11.2%
3,444 3,877 3,287 Operating profit
+122.0% -34.7%
111 170 50.0 OPM %
+170 bps -116 bps
3.2% 4.4% 1.5% Other income
-51.4% +54.5%
17.0 11.0 35.0 Net profit?
+155.6% -35.5%
69.0 107 27.0 PAT margin %
+118 bps -76 bps
2.0% 2.8% 0.8% EPS (₹)
+155.0% -35.4%
15.91 24.64 6.24
Quality of profit
Pre-tax profit ₹90.0 Cr: core business ₹72.0 Cr, other income ₹17.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: —
· reported profit +155.6%
Cash & debt
FY26 cash from operations −₹110 Cr:
-26% of FY26 net profit of ₹420 Cr.
Borrowings ₹133 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹3,113 ₹3,444
+10.6% above Net profit ₹19.7 ₹69.0
+251.0% above
M Cap ₹14,808 Cr
P/E 29.1
PEG 2.24
Profit +48% above its own trend Operating margin expanded 608 bps YoY Core business grew faster than reported profit (core profit +68%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+9.3% +6.8%
979 917 896 Operating profit
+51.9% +20.5%
212 176 140 OPM %
+608 bps +246 bps
21.7% 19.2% 15.6% Other income
-11.2% from loss 21.0 -5.0 23.6 Net profit?
+46.7% +37.0%
148 108 101 PAT margin %
+386 bps +334 bps
15.1% 11.8% 11.3% EPS (₹)
+46.1% +37.4%
4.85 3.53 3.32
Quality of profit
Pre-tax profit ₹197 Cr: core business ₹177 Cr, other income ₹21.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +68.1%
· reported profit +46.7%
Cash & debt
FY26 cash from operations ₹655 Cr:
140% of FY26 net profit of ₹467 Cr.
Borrowings ₹229 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹958 ₹979
+2.1% in line Net profit ₹99.9 ₹148
+48.1% above
M Cap ₹14,723 Cr
P/E 13.7
PEG 0.29
Profit -51% below its own trend Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+34.6% -18.2%
4,702 5,749 3,494 Operating profit
+27.4% -6.5%
442 472 347 OPM %
-53 bps +118 bps
9.4% 8.2% 9.9% Other income
-0.3% +35.6%
42.0 31.0 42.1 Net profit
-2.5% -14.3%
156 182 160 PAT margin %
-126 bps +15 bps
3.3% 3.2% 4.6% EPS (₹)
-23.5% -14.8%
1.50 1.76 1.96
Quality of profit
Pre-tax profit ₹202 Cr: core business ₹160 Cr, other income ₹42.0 Cr.
Core profit YoY: -11.5%
· reported profit -2.5%
Cash & debt
FY26 cash from operations −₹1,012 Cr:
-108% of FY26 net profit of ₹936 Cr.
Borrowings ₹6,906 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹5,480 ₹4,702
-14.2% below Net profit ₹320 ₹156
-51.3% below
M Cap ₹14,694 Cr
P/E 86.7
PEG 5.78
Profit -45% below its own trend Operating margin contracted 738 bps YoY Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+20.6% -5.3%
579 612 480 Operating profit
-29.1% +36.1%
61.0 44.8 86.0 OPM %
-738 bps +321 bps
10.5% 7.3% 17.9% Other income
-50.0% -2.5%
5.0 5.1 10.0 Net profit
-22.4% +38.1%
45.0 32.6 58.0 PAT margin %
-431 bps +244 bps
7.8% 5.3% 12.1% EPS (₹)
-23.0% +37.7%
17.95 13.04 23.30
Quality of profit
Pre-tax profit ₹58.0 Cr: core business ₹53.0 Cr, other income ₹5.0 Cr.
Core profit YoY: -20.9%
· reported profit -22.4%
Cash & debt
FY26 cash from operations −₹15.0 Cr:
-8% of FY26 net profit of ₹187 Cr.
Borrowings ₹111 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹655 ₹579
-11.6% below Net profit ₹81.5 ₹45.0
-44.8% below
M Cap ₹14,544 Cr
P/E 29.9
PEG —
Profit +162% above its own trend Operating margin expanded 652 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+3.1% +25.5%
1,587 1,265 1,539 Operating profit
+74.5% +265.2%
253 69.3 145 OPM %
+652 bps +1046 bps
15.9% 5.5% 9.4% Other income
-57.9% -8.9%
8.0 8.8 19.0 Net profit
+57.0% +457.2%
168 30.1 107 PAT margin %
+363 bps +820 bps
10.6% 2.4% 7.0% EPS (₹)
+57.4% +458.7%
8.94 1.60 5.68
Quality of profit
Pre-tax profit ₹229 Cr: core business ₹221 Cr, other income ₹8.0 Cr.
Core profit YoY: +76.8%
· reported profit +57.0%
Cash & debt
FY26 cash from operations ₹246 Cr:
75% of FY26 net profit of ₹327 Cr.
Borrowings ₹126 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,371 ₹1,587
+15.8% above Net profit ₹64.0 ₹168
+162.4% above
M Cap ₹14,529 Cr
P/E 82.4
PEG 1.19
Profit -27% below its own trend Operating margin expanded 283 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+8.8% -5.2%
237 250 218 Operating profit
+21.1% +0.0%
66.0 66.0 54.5 OPM %
+283 bps +145 bps
27.8% 26.4% 25.0% Other income
— —
4.0 0.0 0.1 Net profit?
+39.9% +8.1%
40.0 37.0 28.6 PAT margin %
+375 bps +208 bps
16.9% 14.8% 13.1% EPS (₹)
+40.5% +7.5%
8.74 8.13 6.22
Quality of profit
Pre-tax profit ₹52.0 Cr: core business ₹49.0 Cr, other income ₹4.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +24.1%
· reported profit +39.9%
Cash & debt
FY26 cash from operations ₹226 Cr:
133% of FY26 net profit of ₹169 Cr.
Borrowings ₹177 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹285 ₹237
-16.7% below Net profit ₹54.5 ₹40.0
-26.7% 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, 20:15 IST
