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
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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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Profit +967% above its own trend Operating margin expanded 1190 bps YoY 36% of pre-tax profit came from other income and one-off items FY26 operating cash flow was only 26% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+16.7% +10.5%
84.0 76.0 72.0 Operating profit
— +42.9%
10.0 7.0 0.0 OPM %
+1190 bps +269 bps
11.9% 9.2% 0.0% Other income
+33.3% +33.3%
4.0 3.0 3.0 Net profit
+700.0% +128.6%
16.0 7.0 2.0 PAT margin %
+1627 bps +984 bps
19.0% 9.2% 2.8% EPS (₹)
+708.3% +110.9%
1.94 0.92 0.24
Quality of profit
Pre-tax profit ₹14.0 Cr: core business ₹9.0 Cr, other income ₹4.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: from loss
· reported profit +700.0%
Cash & debt
FY26 cash from operations ₹7.0 Cr:
26% of FY26 net profit of ₹27.0 Cr.
Borrowings nil at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹81.7 ₹84.0
+2.8% in line Net profit ₹1.5 ₹16.0
+966.7% above
M Cap ₹339 Cr
P/E 24.4
PEG 12.18
Profit +92% above its own trend Operating margin expanded 271 bps YoY 77% of pre-tax profit came from other income and one-off items Borrowings up 45% since Mar 2025
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+10.1% +5.0%
101 96.6 92.2 Operating profit
+58.1% -35.0%
9.1 13.9 5.7 OPM %
+271 bps -551 bps
8.9% 14.4% 6.2% Other income
-5.0% +14.0%
3.6 3.2 3.8 Net profit?
-3.8% -56.6%
3.1 7.1 3.2 PAT margin %
-43 bps -430 bps
3.0% 7.3% 3.5% EPS (₹)
-4.2% -56.7%
0.68 1.57 0.71
Quality of profit
Pre-tax profit ₹4.7 Cr: core business ₹1.1 Cr, other income ₹3.6 Cr.
Core profit YoY: from loss
· reported profit -3.8%
Cash & debt
Borrowings ₹299 Cr at Sep 2025, against ₹206 Cr at Mar 2025 (+45% ).
Against its own trend ?
Trend Actual Gap
Sales ₹85.9 ₹101
+18.1% above Net profit ₹1.6 ₹3.1
+92.5% above
M Cap ₹333 Cr
P/E 17.6
PEG 0.33
Turnaround: profit against a loss a year ago All of pre-tax profit came from other income or one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-8.2% -1.8%
107 109 117 Operating profit
+70.4% -80.4%
1.2 6.0 0.7 OPM %
+51 bps -442 bps
1.1% 5.5% 0.6% Other income
-5.1% -2.3%
5.8 5.9 6.1 Net profit?
from loss +14.5%
2.8 2.4 -12.3 PAT margin %
+1307 bps +37 bps
2.6% 2.2% -10.5% EPS (₹)
from loss +9.1%
0.12 0.11 -0.53
Quality of profit
Pre-tax profit ₹4.6 Cr: core business −₹1.2 Cr, other income ₹5.8 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY26 cash from operations ₹64.0 Cr:
332% of FY26 net profit of ₹19.3 Cr.
Borrowings ₹84.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹130 ₹107
-17.6% below
M Cap ₹333 Cr
P/E 8.5
PEG 0.29
Operating margin contracted 537 bps YoY 84% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -83%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+35.9% +126.6%
127 56.2 93.7 Operating profit
-40.0% -56.5%
5.4 12.4 9.0 OPM %
-537 bps -1788 bps
4.2% 22.1% 9.6% Other income
+621.2% —
4.8 0.4 0.7 Net profit?
+7.2% +103.8%
8.0 3.9 7.5 PAT margin %
-168 bps -70 bps
6.3% 7.0% 8.0% EPS (₹)
+1.6% +93.1%
3.09 1.60 3.04
Quality of profit
Pre-tax profit ₹5.7 Cr: core business ₹0.9 Cr, other income ₹4.8 Cr.
Core profit YoY: -82.6%
· reported profit +7.2%
Cash & debt
FY26 cash from operations ₹32.0 Cr:
82% of FY26 net profit of ₹39.0 Cr.
Borrowings ₹65.0 Cr at Mar 2026.
M Cap ₹327 Cr
P/E 8.0
PEG 0.21
Profit -64% below its own trend Operating margin contracted 170 bps YoY 46% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+17.8% +9.2%
142 130 120 Operating profit
-3.4% +24.5%
11.0 8.8 11.3 OPM %
-170 bps +95 bps
7.7% 6.8% 9.4% Other income
+2.7% +214.0%
5.4 1.7 5.2 Net profit?
-28.5% -52.9%
8.8 18.6 12.3 PAT margin %
-400 bps -816 bps
6.2% 14.3% 10.2% EPS (₹)
-28.5% -53.0%
2.21 4.70 3.09
Quality of profit
Pre-tax profit ₹11.7 Cr: core business ₹6.3 Cr, other income ₹5.4 Cr.
Core profit YoY: -9.1%
· reported profit -28.5%
Cash & debt
FY26 cash from operations ₹23.0 Cr:
56% of FY26 net profit of ₹40.9 Cr.
Borrowings ₹82.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹159 ₹142
-10.8% below Net profit ₹24.5 ₹8.8
-64.2% below
Profit +377% above its own trend Operating margin expanded 753 bps YoY 79% 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
-6.5% -40.4%
90.0 151 96.3 Operating profit
+50.0% +100.0%
18.0 9.0 12.0 OPM %
+753 bps +1404 bps
20.0% 6.0% 12.5% Other income
— —
52.0 4.0 2.0 Net profit
+496.0% +200.0%
27.0 9.0 4.5 PAT margin %
+2529 bps +2404 bps
30.0% 6.0% 4.7% EPS (₹)
+488.8% +181.8%
31.03 11.01 5.27
Quality of profit
Pre-tax profit ₹66.0 Cr: core business ₹14.0 Cr, other income ₹52.0 Cr.
Core profit YoY: +55.6%
· reported profit +496.0%
Cash & debt
FY26 cash from operations ₹31.0 Cr:
65% of FY26 net profit of ₹48.0 Cr.
Borrowings nil at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹119 ₹90.0
-24.5% below Net profit ₹5.7 ₹27.0
+376.8% above
M Cap ₹318 Cr
P/E 17.3
PEG —
Turnaround: profit against a loss a year ago Operating margin expanded 1204 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
+85.7% +5.4%
55.5 52.7 29.9 Operating profit
from loss -81.0%
1.0 5.4 -3.0 OPM %
+1204 bps -847 bps
1.9% 10.3% -10.2% Other income
+29.4% +187.4%
3.5 1.2 2.7 Net profit?
from loss -41.3%
2.3 3.9 -1.6 PAT margin %
+934 bps -327 bps
4.1% 7.4% -5.2% EPS (₹)
from loss -40.7%
0.80 1.35 -0.55
Quality of profit
Pre-tax profit ₹2.8 Cr: core business −₹0.7 Cr, other income ₹3.5 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY26 cash from operations ₹15.0 Cr:
149% of FY26 net profit of ₹10.1 Cr.
Borrowings ₹5.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹26.6 ₹55.5
+108.5% above
M Cap ₹310 Cr
P/E 10.8
PEG 2.71
Profit +17% above its own trend Operating margin expanded 269 bps YoY 50% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +86%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-11.8% -5.1%
109 115 124 Operating profit
+31.8% -8.8%
8.9 9.7 6.7 OPM %
+269 bps -33 bps
8.1% 8.5% 5.4% Other income
-28.3% -12.7%
4.6 5.3 6.5 Net profit
-8.4% -13.6%
6.8 7.8 7.4 PAT margin %
+23 bps -61 bps
6.2% 6.8% 5.9% EPS (₹)
-7.8% -13.3%
0.65 0.75 adj. 0.70
EPS restated for the ₹2 to ₹1 split of Oct 2025: Mar 2025 ₹1.41 to ₹0.70.
Quality of profit
Pre-tax profit ₹9.3 Cr: core business ₹4.6 Cr, other income ₹4.6 Cr.
Core profit YoY: +85.9%
· reported profit -8.4%
Cash & debt
FY26 cash from operations ₹21.0 Cr:
70% of FY26 net profit of ₹30.1 Cr.
Borrowings ₹144 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹125 ₹109
-12.7% below Net profit ₹5.8 ₹6.8
+17.4% above
M Cap ₹309 Cr
P/E 11.4
PEG 0.60
Operating margin expanded 103 bps YoY 61% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +203%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+7.6% +4.3%
147 141 137 Operating profit
+30.7% -2.0%
8.6 8.8 6.6 OPM %
+103 bps -37 bps
5.8% 6.2% 4.8% Other income
+39.1% +50.7%
5.6 3.7 4.0 Net profit?
+75.5% +19.3%
9.1 7.6 5.2 PAT margin %
+240 bps +78 bps
6.2% 5.4% 3.8% EPS (₹)
+75.1% +18.8%
4.92 4.14 2.81
Quality of profit
Pre-tax profit ₹9.1 Cr: core business ₹3.5 Cr, other income ₹5.6 Cr.
Core profit YoY: +203.4%
· reported profit +75.5%
Cash & debt
FY26 cash from operations ₹25.0 Cr:
86% of FY26 net profit of ₹29.1 Cr.
Borrowings ₹111 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹164 ₹147
-10.5% below
M Cap ₹308 Cr
P/E 24.1
PEG 0.86
Profit +83% above its own trend Operating margin contracted 5130 bps YoY 99% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -96%) Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+886.7% +23.8%
41.9 33.8 4.2 Operating profit
-39.2% -32.9%
1.4 2.1 2.3 OPM %
-5130 bps -284 bps
3.4% 6.2% 54.7% Other income
+219.2% +321.3%
3.2 0.8 1.0 Net profit?
+93.1% +166.1%
3.2 1.2 1.7 PAT margin %
-3160 bps +411 bps
7.7% 3.6% 39.3% EPS (₹)
+116.9% +151.0%
1.28 0.51 0.59
Quality of profit
Pre-tax profit ₹3.2 Cr: core business ₹0.0 Cr, other income ₹3.2 Cr.
Core profit YoY: -96.3%
· reported profit +93.1%
Cash & debt
FY26 cash from operations −₹6.0 Cr:
-73% of FY26 net profit of ₹8.3 Cr.
Borrowings ₹23.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹8.5 ₹41.9
+393.3% above Net profit ₹1.8 ₹3.2
+82.6% above
M Cap ₹304 Cr
P/E 24.5
PEG 0.10
Profit +32% above its own trend Operating margin expanded 102 bps YoY 37% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-3.3% -1.5%
57.0 57.9 59.0 Operating profit
+5.8% -23.2%
6.7 8.8 6.4 OPM %
+102 bps -333 bps
11.8% 15.1% 10.8% Other income
+497.4% +531.4%
2.3 0.4 0.4 Net profit
+163.7% from loss 5.9 -0.1 2.2 PAT margin %
+654 bps +1053 bps
10.3% -0.2% 3.8% EPS (₹)
+163.6% from loss 16.16 -0.33 6.13
Quality of profit
Pre-tax profit ₹6.1 Cr: core business ₹3.9 Cr, other income ₹2.3 Cr.
Core profit YoY: from loss
· reported profit +163.7%
Cash & debt
FY26 cash from operations ₹7.0 Cr:
75% of FY26 net profit of ₹9.3 Cr.
Borrowings ₹106 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹59.7 ₹57.0
-4.5% in line Net profit ₹4.5 ₹5.9
+31.8% above
Turnaround: profit against a loss a year ago Operating margin expanded 659 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
+104.0% +106.5%
300 145 147 Operating profit
— +79.4%
20.3 11.3 0.2 OPM %
+659 bps -102 bps
6.8% 7.8% 0.2% Other income
-24.0% -49.6%
8.7 17.3 11.5 Net profit?
from loss -7.9%
19.1 20.8 -8.4 PAT margin %
+1210 bps -793 bps
6.4% 14.3% -5.7% EPS (₹)
from loss -22.1%
13.02 16.71 -6.78
Quality of profit
Pre-tax profit ₹20.2 Cr: core business ₹11.5 Cr, other income ₹8.7 Cr.
Core profit YoY: from loss
Against its own trend ?
Trend Actual Gap
Sales ₹83.9 ₹300
+257.4% above
M Cap ₹299 Cr
P/E 22.7
PEG 0.24
Profit +327% above its own trend Operating margin contracted 1301 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
+50.2% +24.5%
62.3 50.0 41.5 Operating profit
to loss to loss -4.2 1.1 2.6 OPM %
-1301 bps -884 bps
-6.7% 2.2% 6.3% Other income
— +794.8%
16.8 1.9 0.7 Net profit?
+113.6% —
8.1 0.7 3.8 PAT margin %
+388 bps +1164 bps
13.1% 1.4% 9.2% EPS (₹)
+14.3% +700.0%
0.08 0.01 0.07
Quality of profit
Pre-tax profit ₹10.5 Cr: core business −₹6.3 Cr, other income ₹16.8 Cr.
Core profit YoY: to loss
· reported profit +113.6%
Cash & debt
Borrowings ₹239 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹44.6 ₹62.3
+39.6% above Net profit ₹1.9 ₹8.1
+327.3% above
M Cap ₹297 Cr
P/E 59.9
PEG —
Profit -78% below its own trend 32% 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
-79.2% -19.0%
340 420 1,639 Operating profit
-74.4% +164.1%
13.2 5.0 51.4 OPM %
+74 bps +268 bps
3.9% 1.2% 3.1% Other income
+209.1% +19.3%
3.4 2.9 1.1 Net profit?
-74.2% +497.6%
7.3 1.2 28.4 PAT margin %
+42 bps +187 bps
2.2% 0.3% 1.7% EPS (₹)
-74.1% +496.1%
3.04 0.51 11.73
Quality of profit
Pre-tax profit ₹10.7 Cr: core business ₹7.3 Cr, other income ₹3.4 Cr.
Core profit YoY: -79.7%
· reported profit -74.2%
Cash & debt
FY26 cash from operations −₹101 Cr:
-282% of FY26 net profit of ₹35.8 Cr.
Borrowings ₹192 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,216 ₹340
-72.0% below Net profit ₹33.4 ₹7.3
-78.0% below
Profit -33% below its own trend Operating margin contracted 153 bps YoY 29% of pre-tax profit came from other income and one-off items
₹ Cr YoY vs prev. half
Mar 2026 Sep 2025 Mar 2025
Sales
+69.9% +43.8%
209 145 123 Operating profit
+16.7% +214.1%
7.0 2.2 6.0 OPM %
-153 bps +182 bps
3.3% 1.5% 4.9% Other income
-33.3% +107.0%
2.0 1.0 3.0 Net profit?
+0.0% +275.2%
5.0 1.3 5.0 PAT margin %
-167 bps +148 bps
2.4% 0.9% 4.1% EPS (₹)
-10.1% +261.4%
3.65 1.01 4.06
Quality of profit
Pre-tax profit ₹7.0 Cr: core business ₹5.0 Cr, other income ₹2.0 Cr.
Core profit YoY: +0.0%
· reported profit +0.0%
Cash & debt
FY26 cash from operations −₹9.0 Cr.
Borrowings ₹13.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹193 ₹209
+8.2% above Net profit ₹7.5 ₹5.0
-33.2% below
M Cap ₹295 Cr
P/E 28.1
PEG 5.62
Profit -88% below its own trend Operating margin expanded 242 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
-83.5% +13.0%
182 161 1,107 Operating profit
-65.2% -12.5%
8.4 9.6 24.1 OPM %
+242 bps -134 bps
4.6% 5.9% 2.2% Other income
+8.8% +73.3%
2.6 1.5 2.4 Net profit?
-75.1% +258.2%
2.7 0.8 10.9 PAT margin %
+50 bps +102 bps
1.5% 0.5% 1.0% EPS (₹)
— +258.1%
10.42 2.91 0.75
Quality of profit
Pre-tax profit ₹4.8 Cr: core business ₹2.2 Cr, other income ₹2.6 Cr.
Core profit YoY: -89.2%
· reported profit -75.1%
Cash & debt
FY26 cash from operations ₹40.0 Cr:
381% of FY26 net profit of ₹10.5 Cr.
Borrowings ₹91.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,247 ₹182
-85.4% below Net profit ₹21.8 ₹2.7
-87.6% below
Operating margin contracted 751 bps YoY All of pre-tax profit came from other income or one-off items
₹ Cr YoY vs prev. half
Mar 2026 Sep 2025 Mar 2025
Sales
+265.2% +52.7%
84.0 55.0 23.0 Operating profit
-50.0% —
1.0 0.0 2.0 OPM %
-751 bps +119 bps
1.2% 0.0% 8.7% Other income
+200.0% +200.0%
3.0 1.0 1.0 Net profit?
loss narrowed loss narrowed -1.0 -4.0 -3.0 PAT margin %
+1185 bps +608 bps
-1.2% -7.3% -13.0% EPS (₹)
from loss from loss 1.38 -1.89 -0.46
Quality of profit
Pre-tax profit ₹1.0 Cr: core business −₹2.0 Cr, other income ₹3.0 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY26 cash from operations −₹5.0 Cr.
Borrowings ₹54.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹25.9 ₹84.0
+224.2% above
M Cap ₹288 Cr
P/E 18.9
PEG —
Profit +62% above its own trend Operating margin contracted 381 bps YoY 76% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -76%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+15.2% +9.5%
100 91.7 87.2 Operating profit
-39.3% -32.3%
4.3 6.3 7.0 OPM %
-381 bps -263 bps
4.3% 6.9% 8.1% Other income
+157.9% —
3.6 0.2 1.4 Net profit
-7.8% +110.7%
4.7 2.2 5.1 PAT margin %
-118 bps +227 bps
4.7% 2.5% 5.9% EPS (₹)
-7.6% +110.8%
4.47 2.12 4.84
Quality of profit
Pre-tax profit ₹4.8 Cr: core business ₹1.1 Cr, other income ₹3.6 Cr.
Core profit YoY: -76.1%
· reported profit -7.8%
Cash & debt
FY26 cash from operations ₹55.0 Cr:
373% of FY26 net profit of ₹14.8 Cr.
Borrowings ₹6.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹83.5 ₹100
+20.3% above Net profit ₹2.9 ₹4.7
+62.4% above
M Cap ₹281 Cr
P/E 10.5
PEG —
Profit -62% below its own trend Operating margin expanded 189 bps YoY 36% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +49%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+1.7% +4.0%
40.3 38.8 39.6 Operating profit
+7.6% +1.8%
13.8 13.6 12.8 OPM %
+189 bps -72 bps
34.3% 35.0% 32.4% Other income
-60.2% -19.4%
3.8 4.7 9.5 Net profit
-24.6% +9.5%
7.8 7.1 10.3 PAT margin %
-671 bps +96 bps
19.2% 18.3% 25.9% EPS (₹)
-24.7% +9.5%
4.48 4.09 5.95
Quality of profit
Pre-tax profit ₹10.4 Cr: core business ₹6.7 Cr, other income ₹3.8 Cr.
Core profit YoY: +49.1%
· reported profit -24.6%
Cash & debt
FY26 cash from operations ₹46.0 Cr:
186% of FY26 net profit of ₹24.7 Cr.
Borrowings ₹152 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹46.2 ₹40.3
-12.7% below Net profit ₹20.6 ₹7.8
-62.3% below
M Cap ₹274 Cr
P/E 465.0
PEG —
All of pre-tax profit came from other income or one-off items
₹ Cr QoQ
Mar 2026 Dec 2025
Sales
+53.4%
38.0 24.8 Operating profit
-5.0%
1.3 1.4 OPM %
-215 bps
3.5% 5.7% Other income
+214.3%
1.3 0.4 Net profit?
loss narrowed -0.9 -1.5 PAT margin %
+347 bps
-2.5% -6.0% EPS (₹)
loss narrowed -0.57 -0.89
Quality of profit
Pre-tax profit ₹0.7 Cr: core business −₹0.6 Cr, other income ₹1.3 Cr.
Cash & debt
FY26 cash from operations ₹1.0 Cr:
108% of FY26 net profit of ₹0.9 Cr.
Borrowings ₹41.0 Cr at Mar 2026.
M Cap ₹274 Cr
P/E 36.3
PEG 0.89
Profit -57% below its own trend Operating margin contracted 655 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
+6.1% +19.2%
89.4 75.0 84.2 Operating profit
to loss to loss -2.7 3.7 3.0 OPM %
-655 bps -794 bps
-3.1% 4.9% 3.5% Other income
+712.0% +197.3%
5.4 1.8 0.7 Net profit
-40.3% -55.9%
1.4 3.1 2.3 PAT margin %
-120 bps -261 bps
1.5% 4.1% 2.7% EPS (₹)
-40.4% -55.8%
0.96 2.17 1.61
Quality of profit
Pre-tax profit ₹1.3 Cr: core business −₹4.2 Cr, other income ₹5.4 Cr.
Core profit YoY: to loss
· reported profit -40.3%
Cash & debt
FY26 cash from operations ₹5.0 Cr:
67% of FY26 net profit of ₹7.5 Cr.
Borrowings ₹43.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹99.7 ₹89.4
-10.3% below Net profit ₹3.2 ₹1.4
-57.5% below
M Cap ₹273 Cr
P/E 66.7
PEG —
Profit -97% below its own trend Operating margin contracted 453 bps YoY 72% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+5.2% +40.5%
99.9 71.1 95.0 Operating profit
-41.4% -15.9%
5.7 6.8 9.7 OPM %
-453 bps -381 bps
5.7% 9.5% 10.2% Other income
+0.2% +91.6%
0.3 0.2 0.3 Net profit?
-94.3% -68.1%
0.2 0.6 3.5 PAT margin %
-349 bps -68 bps
0.2% 0.9% 3.7% EPS (₹)
-100.0% -100.0%
0.00 0.01 0.08
Quality of profit
Pre-tax profit ₹0.4 Cr: core business ₹0.1 Cr, other income ₹0.3 Cr.
Core profit YoY: -97.3%
· reported profit -94.3%
Cash & debt
FY26 cash from operations ₹33.0 Cr:
1165% of FY26 net profit of ₹2.8 Cr.
Borrowings ₹93.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹98.3 ₹99.9
+1.6% in line Net profit ₹6.0 ₹0.2
-96.7% below
M Cap ₹271 Cr
P/E 10.8
PEG 0.04
Operating margin expanded 419 bps YoY 35% 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
-28.5% +8.0%
81.0 75.0 113 Operating profit
+19.3% +21.5%
8.5 7.0 7.1 OPM %
+419 bps +116 bps
10.5% 9.3% 6.3% Other income
-8.4% +0.0%
3.5 3.5 3.8 Net profit?
+9.1% +25.8%
5.8 4.7 5.4 PAT margin %
+249 bps +102 bps
7.2% 6.2% 4.7% EPS (₹)
+7.1% +25.0%
0.15 0.12 0.14
Quality of profit
Pre-tax profit ₹10.1 Cr: core business ₹6.6 Cr, other income ₹3.5 Cr.
Core profit YoY: +10.7%
· reported profit +9.1%
Cash & debt
FY26 cash from operations −₹26.0 Cr:
-112% of FY26 net profit of ₹23.3 Cr.
Borrowings ₹24.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹187 ₹81.0
-56.6% below Net profit ₹5.8 ₹5.8
+0.8% in line
M Cap ₹266 Cr
P/E 11.2
PEG —
Profit -37% below its own trend Operating margin contracted 355 bps YoY 42% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-2.1% -7.6%
134 144 136 Operating profit
-53.8% -10.8%
4.2 4.7 9.2 OPM %
-355 bps -11 bps
3.2% 3.3% 6.7% Other income
+73.6% +55.9%
1.8 1.2 1.1 Net profit
-52.5% +4.0%
3.3 3.2 7.0 PAT margin %
-265 bps +28 bps
2.5% 2.2% 5.2% EPS (₹)
-52.8% +3.7%
0.84 0.81 1.78
Quality of profit
Pre-tax profit ₹4.4 Cr: core business ₹2.5 Cr, other income ₹1.8 Cr.
Core profit YoY: -71.1%
· reported profit -52.5%
Against its own trend ?
Trend Actual Gap
Sales ₹140 ₹134
-4.8% in line Net profit ₹5.3 ₹3.3
-36.9% below
Turnaround: profit against a loss a year ago Operating margin expanded 1446 bps YoY 66% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-10.7% +54.8%
124 80.1 139 Operating profit
from loss from loss 13.6 -1.4 -4.9 OPM %
+1446 bps +1275 bps
11.0% -1.8% -3.5% Other income
+88.9% +200.0%
0.5 0.2 0.3 Net profit?
from loss from loss 1.6 -19.6 -13.1 PAT margin %
+1076 bps +2583 bps
1.3% -24.5% -9.4% EPS (₹)
loss narrowed loss narrowed -0.30 -6.66 -4.42
Quality of profit
Pre-tax profit ₹0.8 Cr: core business ₹0.3 Cr, other income ₹0.5 Cr.
Core profit YoY: from loss
Cash & debt
FY26 cash from operations −₹29.0 Cr.
Borrowings ₹277 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹145 ₹124
-14.3% below
M Cap ₹258 Cr
P/E 7.1
PEG 7.10
Into loss: a profit a year ago Profit -101% below its own trend Operating margin expanded 789 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
-0.7% -21.8%
51.6 66.0 52.0 Operating profit
+984.5% +25.3%
4.5 3.6 0.4 OPM %
+789 bps +327 bps
8.7% 5.4% 0.8% Other income
-6.0% +109.1%
3.6 1.7 3.9 Net profit?
to loss to loss -0.0 1.6 1.5 PAT margin %
-287 bps -245 bps
-0.0% 2.4% 2.8% EPS (₹)
to loss to loss -0.01 0.84 1.14
Quality of profit
Pre-tax profit ₹2.5 Cr: core business −₹1.1 Cr, other income ₹3.6 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY26 cash from operations −₹13.0 Cr:
-31% of FY26 net profit of ₹41.6 Cr.
Borrowings ₹138 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹66.8 ₹51.6
-22.7% below Net profit ₹1.3 −₹0.0
-100.8% below
M Cap ₹257 Cr
P/E 26.2
PEG 0.46
Profit +999% above its own trend Operating margin expanded 4703 bps YoY 39% 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
— +81.4%
50.8 28.0 3.9 Operating profit
from loss —
3.7 0.3 -1.5 OPM %
+4703 bps +621 bps
7.2% 1.0% -39.8% Other income
+135.7% +143.2%
2.3 0.9 1.0 Net profit
— +151.5%
4.9 1.9 0.2 PAT margin %
+340 bps +268 bps
9.6% 6.9% 6.2% EPS (₹)
— +150.8%
1.48 0.59 0.07
Quality of profit
Pre-tax profit ₹6.0 Cr: core business ₹3.6 Cr, other income ₹2.3 Cr.
Core profit YoY: from loss
Cash & debt
FY26 cash from operations −₹103 Cr:
-1048% of FY26 net profit of ₹9.8 Cr.
Borrowings ₹0.3 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹7.7 ₹50.8
+556.6% above Net profit ₹0.4 ₹4.9
+999.0% above
M Cap ₹257 Cr
P/E 13.5
PEG —
Profit -70% below its own trend Operating margin contracted 525 bps YoY 97% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -99%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+42.0% +16.9%
163 139 114 Operating profit
-76.8% -77.9%
1.7 7.6 7.2 OPM %
-525 bps -442 bps
1.0% 5.4% 6.3% Other income
+23.8% +48.6%
2.9 2.0 2.4 Net profit
-65.5% -62.6%
2.2 5.9 6.4 PAT margin %
-426 bps -291 bps
1.4% 4.3% 5.6% EPS (₹)
-65.6% -63.8%
0.21 0.58 0.61
Quality of profit
Pre-tax profit ₹3.0 Cr: core business ₹0.1 Cr, other income ₹2.9 Cr.
Core profit YoY: -98.5%
· reported profit -65.5%
Against its own trend ?
Trend Actual Gap
Sales ₹121 ₹163
+34.8% above Net profit ₹7.4 ₹2.2
-69.8% below
M Cap ₹254 Cr
P/E 36.9
PEG 0.95
Operating margin contracted 376 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
-40.3% +2.5%
75.3 73.5 126 Operating profit
to loss to loss -0.1 2.0 4.6 OPM %
-376 bps -287 bps
-0.1% 2.8% 3.7% Other income
+100.0% +26.7%
3.1 2.4 1.6 Net profit?
-63.0% -57.5%
0.9 2.0 2.4 PAT margin %
-71 bps -163 bps
1.2% 2.8% 1.9% EPS (₹)
— —
0.06 0.82 0.19
No EPS growth against Dec 2025 and Mar 2025: ₹10 to ₹2 split in May 2026.
Quality of profit
Pre-tax profit ₹1.1 Cr: core business −₹2.0 Cr, other income ₹3.1 Cr.
Core profit YoY: to loss
· reported profit -63.0%
Cash & debt
FY26 cash from operations ₹39.0 Cr:
247% of FY26 net profit of ₹15.8 Cr.
Borrowings ₹90.0 Cr at Mar 2026.
M Cap ₹253 Cr
P/E 21.4
PEG 0.30
Profit -55% below its own trend Operating margin contracted 255 bps YoY 54% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -55%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+13.6% +15.5%
54.6 47.3 48.1 Operating profit
-26.4% -74.8%
2.6 10.2 3.5 OPM %
-255 bps -1681 bps
4.7% 21.5% 7.2% Other income
— +642.1%
1.4 0.2 0.0 Net profit?
-27.5% -77.9%
1.5 6.9 2.1 PAT margin %
-159 bps -1183 bps
2.8% 14.6% 4.4% EPS (₹)
-19.0% -56.4%
0.17 0.39 0.21
Quality of profit
Pre-tax profit ₹2.6 Cr: core business ₹1.2 Cr, other income ₹1.4 Cr.
Core profit YoY: -55.0%
· reported profit -27.5%
Cash & debt
FY26 cash from operations ₹17.0 Cr:
146% of FY26 net profit of ₹11.6 Cr.
Borrowings ₹48.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹55.4 ₹54.6
-1.4% in line Net profit ₹3.4 ₹1.5
-55.5% 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, 21:03 IST
