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 18 of 171
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M Cap ₹14,519 Cr
P/E 24.7
PEG 2.24
Profit +16% above its own trend Operating margin expanded 192 bps YoY Core business grew faster than reported profit (core profit +39%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+7.6% -1.4%
1,954 1,982 1,817 Operating profit
+30.1% -10.0%
216 240 166 OPM %
+192 bps -105 bps
11.1% 12.1% 9.1% Other income
-70.3% from loss 11.0 -10.0 37.0 Net profit?
+7.4% -6.0%
110 117 102 PAT margin %
-1 bps -28 bps
5.6% 5.9% 5.6% EPS (₹)
+3.7% -7.3%
1.39 1.50 1.34
Quality of profit
Pre-tax profit ₹158 Cr: core business ₹147 Cr, other income ₹11.0 Cr.
Core profit YoY: +38.7%
· reported profit +7.4%
Cash & debt
FY26 cash from operations ₹894 Cr:
155% of FY26 net profit of ₹576 Cr.
Borrowings ₹303 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,853 ₹1,954
+5.4% above Net profit ₹95.0 ₹110
+15.8% above
M Cap ₹14,487 Cr
P/E 77.4
PEG 2.87
Profit +22% above its own trend Operating margin expanded 379 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+26.6% +7.0%
219 205 173 Operating profit
+38.7% +11.1%
95.5 86.0 68.9 OPM %
+379 bps +159 bps
43.5% 42.0% 39.8% Other income
-56.7% -52.0%
2.4 5.0 5.5 Net profit?
+37.5% +11.5%
47.9 43.0 34.9 PAT margin %
+172 bps +87 bps
21.8% 21.0% 20.1% EPS (₹)
+37.9% +11.0%
4.66 4.20 3.38
Quality of profit
Pre-tax profit ₹64.3 Cr: core business ₹61.9 Cr, other income ₹2.4 Cr.
Core profit YoY: +44.4%
· reported profit +37.5%
Cash & debt
FY26 cash from operations ₹271 Cr:
157% of FY26 net profit of ₹173 Cr.
Borrowings ₹423 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹201 ₹219
+9.2% above Net profit ₹39.3 ₹47.9
+22.0% above
M Cap ₹14,444 Cr
P/E 16.0
PEG 0.13
Profit +19% above its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+14.9% +9.2%
2,612 2,393 2,273 Operating profit
+20.0% +20.2%
402 335 335 OPM %
+65 bps +141 bps
15.4% 14.0% 14.7% Other income
-16.2% +29.9%
31.0 23.9 37.0 Net profit?
+20.9% +21.9%
249 204 206 PAT margin %
+47 bps +100 bps
9.5% 8.5% 9.1% EPS (₹)
+20.8% +22.1%
6.57 5.38 5.44
Quality of profit
Pre-tax profit ₹329 Cr: core business ₹299 Cr, other income ₹31.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +26.7%
· reported profit +20.9%
Cash & debt
Borrowings ₹426 Cr at Dec 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹2,437 ₹2,612
+7.2% above Net profit ₹210 ₹249
+18.8% above
M Cap ₹14,416 Cr
P/E 40.1
PEG 0.32
Operating margin expanded 204 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+28.0% +32.8%
2,139 1,611 1,671 Operating profit
+45.4% from loss 365 -94.0 251 OPM %
+204 bps +2290 bps
17.1% -5.8% 15.0% Other income
loss narrowed to loss -24.0 7.0 -45.0 Net profit
+67.5% from loss 345 -88.0 206 PAT margin %
+380 bps +2159 bps
16.1% -5.5% 12.3% EPS (₹)
+65.5% from loss 1.87 -0.47 1.13
Quality of profit
Pre-tax profit ₹341 Cr: core business ₹365 Cr, other income −₹24.0 Cr.
Core profit YoY: +45.4%
· reported profit +67.5%
Cash & debt
FY26 cash from operations ₹905 Cr:
691% of FY26 net profit of ₹131 Cr.
Borrowings ₹250 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹2,080 ₹2,139
+2.8% in line
M Cap ₹14,400 Cr
P/E 64.9
PEG —
Profit +64% above its own trend Operating margin contracted 276 bps YoY Profit grew faster than the core business (core profit +72%) Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+113.4% +81.7%
495 272 232 Operating profit
+74.3% +15.3%
61.0 52.9 35.0 OPM %
-276 bps -710 bps
12.3% 19.4% 15.1% Other income
+28.6% -62.6%
9.0 24.1 7.0 Net profit?
+130.0% -31.0%
46.0 66.7 20.0 PAT margin %
+67 bps -1519 bps
9.3% 24.5% 8.6% EPS (₹)
+175.0% -35.3%
0.33 0.51 0.12
Quality of profit
Pre-tax profit ₹59.0 Cr: core business ₹50.0 Cr, other income ₹9.0 Cr.
Core profit YoY: +72.4%
· reported profit +130.0%
Cash & debt
FY26 cash from operations −₹253 Cr:
-129% of FY26 net profit of ₹197 Cr.
Borrowings ₹109 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹258 ₹495
+92.1% above Net profit ₹28.0 ₹46.0
+64.3% above
M Cap ₹14,393 Cr
P/E 13.3
PEG 0.51
Profit -22% below its own trend Operating margin contracted 2756 bps YoY 53% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -85%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-39.5% +14.2%
739 647 1,221 Operating profit
-76.6% -19.5%
128 159 548 OPM %
-2756 bps -725 bps
17.3% 24.6% 44.9% Other income
+18.2% +34.5%
78.0 58.0 66.0 Net profit?
-37.2% +151.6%
269 107 428 PAT margin %
+134 bps +1988 bps
36.4% 16.5% 35.1% EPS (₹)
-34.1% +76.8%
14.96 8.46 22.70
Quality of profit
Pre-tax profit ₹144 Cr: core business ₹67.0 Cr, other income ₹78.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: -84.8%
· reported profit -37.2%
Cash & debt
FY26 cash from operations ₹1,768 Cr:
132% of FY26 net profit of ₹1,341 Cr.
Borrowings ₹714 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,305 ₹739
-43.4% below Net profit ₹345 ₹269
-22.1% below
M Cap ₹14,385 Cr
P/E 22.5
PEG 1.40
Profit -22% below its own trend Operating margin contracted 240 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+30.5% +3.5%
2,907 2,809 2,228 Operating profit
+3.5% -15.1%
267 314 258 OPM %
-240 bps -200 bps
9.2% 11.2% 11.6% Other income
-13.9% —
31.0 2.8 36.0 Net profit?
-15.5% -13.6%
136 157 161 PAT margin %
-255 bps -92 bps
4.7% 5.6% 7.2% EPS (₹)
-15.4% -13.7%
3.91 4.53 4.62
Quality of profit
Pre-tax profit ₹189 Cr: core business ₹157 Cr, other income ₹31.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: -12.3%
· reported profit -15.5%
Cash & debt
FY26 cash from operations ₹910 Cr:
145% of FY26 net profit of ₹626 Cr.
Borrowings ₹1,610 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹2,701 ₹2,907
+7.6% above Net profit ₹174 ₹136
-22.1% below
M Cap ₹14,377 Cr
P/E 27.6
PEG 1.72
Profit +56% above its own trend Operating margin expanded 484 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+20.9% +13.5%
856 754 708 Operating profit
+53.5% +21.1%
195 161 127 OPM %
+484 bps +143 bps
22.8% 21.4% 17.9% Other income
+133.3% +75.0%
35.0 20.0 15.0 Net profit?
+63.7% +30.7%
149 114 91.0 PAT margin %
+455 bps +229 bps
17.4% 15.1% 12.9% EPS (₹)
+63.5% +30.8%
3.27 2.50 2.00
Quality of profit
Pre-tax profit ₹200 Cr: core business ₹165 Cr, other income ₹35.0 Cr.
Core profit YoY: +63.4%
· reported profit +63.7%
Cash & debt
FY26 cash from operations ₹458 Cr:
109% of FY26 net profit of ₹420 Cr.
Borrowings ₹343 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹789 ₹856
+8.6% above Net profit ₹95.4 ₹149
+56.1% above
M Cap ₹14,329 Cr
P/E 52.5
PEG 13.13
Profit -21% below its own trend Operating margin contracted 810 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-24.2% +17.3%
326 278 430 Operating profit
-38.0% +20.4%
118 98.0 190 OPM %
-810 bps +94 bps
36.2% 35.3% 44.3% Other income
+59.8% +114.3%
15.0 7.0 9.4 Net profit?
-37.3% +37.5%
88.0 64.0 140 PAT margin %
-566 bps +397 bps
27.0% 23.0% 32.7% EPS (₹)
-36.7% +37.8%
8.49 6.16 13.42
Quality of profit
Pre-tax profit ₹114 Cr: core business ₹98.0 Cr, other income ₹15.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: -44.2%
· reported profit -37.3%
Cash & debt
FY26 cash from operations ₹267 Cr:
103% of FY26 net profit of ₹259 Cr.
Borrowings ₹2.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹448 ₹326
-27.2% below Net profit ₹111 ₹88.0
-20.5% below
M Cap ₹14,277 Cr
P/E 33.0
PEG 3.00
Profit -23% below its own trend Operating margin contracted 381 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+46.4% +16.5%
1,224 1,051 836 Operating profit
+17.8% +3.8%
192 185 163 OPM %
-381 bps -192 bps
15.7% 17.6% 19.5% Other income
-50.0% -23.1%
2.0 2.6 4.0 Net profit?
+12.7% +14.7%
115 100 102 PAT margin %
-281 bps -15 bps
9.4% 9.5% 12.2% EPS (₹)
+12.5% +13.9%
8.58 7.53 7.63
Quality of profit
Pre-tax profit ₹123 Cr: core business ₹122 Cr, other income ₹2.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +19.6%
· reported profit +12.7%
Cash & debt
FY26 cash from operations ₹858 Cr:
221% of FY26 net profit of ₹388 Cr.
Borrowings ₹1,324 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,150 ₹1,224
+6.4% above Net profit ₹150 ₹115
-23.1% below
M Cap ₹14,241 Cr
P/E 63.8
PEG —
Operating margin expanded 322 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+81.9% +58.4%
748 472 411 Operating profit
+116.8% +64.4%
150 91.0 69.0 OPM %
+322 bps +72 bps
20.0% 19.3% 16.8% Other income
+151.8% +151.8%
7.6 3.0 3.0 Net profit?
+127.1% +137.6%
102 43.0 45.0 PAT margin %
+272 bps +456 bps
13.7% 9.1% 10.9% EPS (₹)
+113.0% +135.6%
13.29 5.64 6.24
Quality of profit
Pre-tax profit ₹132 Cr: core business ₹124 Cr, other income ₹7.6 Cr.
Core profit YoY: +118.1%
· reported profit +127.1%
M Cap ₹14,239 Cr
P/E —
PEG —
₹ Cr
Mar 2026
Sales
188 Operating profit
144 OPM %
76.6% Other income
45.0 Net profit?
1.0 PAT margin %
0.5% EPS (₹)
0.00
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 ₹0.0 Cr: core business −₹45.0 Cr, other income ₹45.0 Cr.
M Cap ₹14,199 Cr
P/E 32.5
PEG 0.86
Profit -15% below its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+7.1% +20.4%
1,029 855 961 Operating profit
+5.1% +32.6%
172 130 164 OPM %
-32 bps +153 bps
16.7% 15.2% 17.0% Other income
to loss to loss -6.0 35.7 8.4 Net profit?
-6.4% -4.6%
111 116 119 PAT margin %
-155 bps -283 bps
10.8% 13.6% 12.3% EPS (₹)
-6.6% -4.8%
9.31 9.78 9.97
Quality of profit
Pre-tax profit ₹153 Cr: core business ₹159 Cr, other income −₹6.0 Cr.
Core profit YoY: +4.3%
· reported profit -6.4%
Cash & debt
FY26 cash from operations ₹417 Cr:
100% of FY26 net profit of ₹415 Cr.
Borrowings ₹8.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹942 ₹1,029
+9.3% above Net profit ₹131 ₹111
-15.0% below
M Cap ₹14,189 Cr
P/E 29.2
PEG 0.57
Profit -20% below its own trend Operating margin contracted 180 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+12.4% +12.2%
1,205 1,074 1,072 Operating profit
+0.5% +19.5%
184 154 183 OPM %
-180 bps +93 bps
15.3% 14.3% 17.1% Other income
+108.3% +66.7%
25.0 15.0 12.0 Net profit
+6.0% +23.0%
123 100 116 PAT margin %
-61 bps +90 bps
10.2% 9.3% 10.8% EPS (₹)
+5.6% +22.4%
5.09 4.16 4.82
Quality of profit
Pre-tax profit ₹162 Cr: core business ₹136 Cr, other income ₹25.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: -7.5%
· reported profit +6.0%
Cash & debt
FY26 cash from operations ₹602 Cr:
124% of FY26 net profit of ₹484 Cr.
Borrowings ₹548 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,036 ₹1,205
+16.3% above Net profit ₹153 ₹123
-19.8% below
M Cap ₹14,122 Cr
P/E —
PEG —
Operating margin contracted 1181 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
-15.1% -5.4%
3,283 3,469 3,866 Operating profit
to loss to loss -335 34.0 62.0 OPM %
-1181 bps -1118 bps
-10.2% 1.0% 1.6% Other income
+94.8% +695.7%
557 70.0 286 Net profit
-59.1% from loss 27.0 -23.0 66.0 PAT margin %
-88 bps +149 bps
0.8% -0.7% 1.7% EPS (₹)
-99.6% from loss 0.06 -0.05 14.28
Quality of profit
Pre-tax profit ₹19.0 Cr: core business −₹537 Cr, other income ₹557 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: loss widened
· reported profit -59.1%
M Cap ₹13,999 Cr
P/E 32.7
PEG 5.46
Profit -22% below its own trend Core business grew faster than reported profit (core profit +45%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+14.9% +7.6%
2,553 2,373 2,221 Operating profit
+24.9% +12.1%
306 273 245 OPM %
+95 bps +48 bps
12.0% 11.5% 11.0% Other income
+16.7% from loss 35.0 -12.0 30.0 Net profit?
+6.5% +63.4%
165 101 155 PAT margin %
-52 bps +221 bps
6.5% 4.3% 7.0% EPS (₹)
+5.5% +63.7%
6.09 3.72 5.77
Quality of profit
Pre-tax profit ₹223 Cr: core business ₹187 Cr, other income ₹35.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +45.0%
· reported profit +6.5%
Cash & debt
FY26 cash from operations ₹867 Cr:
203% of FY26 net profit of ₹428 Cr.
Borrowings ₹1,660 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹2,420 ₹2,553
+5.5% above Net profit ₹212 ₹165
-22.1% below
M Cap ₹13,986 Cr
P/E 24.1
PEG 1.15
Profit -20% below its own trend Operating margin contracted 261 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+12.0% +5.8%
1,711 1,617 1,528 Operating profit
-1.9% +1.9%
317 311 323 OPM %
-261 bps -71 bps
18.5% 19.2% 21.1% Other income
-74.0% from loss 12.0 -26.0 46.2 Net profit?
-33.4% +22.6%
163 133 245 PAT margin %
-649 bps +130 bps
9.5% 8.2% 16.0% EPS (₹)
-34.0% +22.4%
5.95 4.86 9.01
Quality of profit
Pre-tax profit ₹225 Cr: core business ₹213 Cr, other income ₹12.0 Cr.
Core profit YoY: -16.8%
· reported profit -33.4%
Cash & debt
FY26 cash from operations ₹1,195 Cr:
188% of FY26 net profit of ₹637 Cr.
Borrowings ₹838 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,697 ₹1,711
+0.8% in line Net profit ₹204 ₹163
-20.3% below
M Cap ₹13,984 Cr
P/E 34.9
PEG 2.18
Profit -42% below its own trend Operating margin contracted 323 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+32.7% +6.5%
1,003 942 756 Operating profit
+10.8% +2.8%
164 160 148 OPM %
-323 bps -58 bps
16.4% 16.9% 19.6% Other income
to loss to loss -10.0 19.4 26.0 Net profit?
-32.2% -22.3%
80.0 103 118 PAT margin %
-763 bps -295 bps
8.0% 10.9% 15.6% EPS (₹)
-32.4% -22.8%
3.31 4.29 4.90
Quality of profit
Pre-tax profit ₹105 Cr: core business ₹115 Cr, other income −₹10.0 Cr.
Core profit YoY: -7.3%
· reported profit -32.2%
Cash & debt
FY26 cash from operations ₹651 Cr:
162% of FY26 net profit of ₹401 Cr.
Borrowings ₹144 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹868 ₹1,003
+15.5% above Net profit ₹139 ₹80.0
-42.4% below
M Cap ₹13,983 Cr
P/E —
PEG —
Operating margin expanded 528 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+60.0% +7.9%
288 267 180 Operating profit
+114.3% +17.6%
60.0 51.0 28.0 OPM %
+528 bps +173 bps
20.8% 19.1% 15.6% Other income
— -66.7%
1.0 3.0 0.0 Net profit
+255.6% +33.3%
32.0 24.0 9.0 PAT margin %
+611 bps +212 bps
11.1% 9.0% 5.0% EPS (₹)
-99.8% +30.6%
7.26 5.56 3042.40
Quality of profit
Pre-tax profit ₹42.0 Cr: core business ₹41.0 Cr, other income ₹1.0 Cr.
Core profit YoY: +241.7%
· reported profit +255.6%
M Cap ₹13,964 Cr
P/E 7.1
PEG —
Operating margin contracted 130 bps YoY 39% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -24%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-12.9% -1.2%
883 894 1,014 Operating profit
-20.1% -6.6%
127 136 159 OPM %
-130 bps -83 bps
14.4% 15.2% 15.7% Other income
— from loss 67.0 -14.0 3.0 Net profit?
+16.7% +70.3%
126 74.0 108 PAT margin %
+362 bps +599 bps
14.3% 8.3% 10.7% EPS (₹)
+16.0% +69.1%
27.60 16.32 23.80
Quality of profit
Pre-tax profit ₹170 Cr: core business ₹103 Cr, other income ₹67.0 Cr.
Core profit YoY: -23.7%
· reported profit +16.7%
M Cap ₹13,917 Cr
P/E 149.7
PEG 4.83
Operating margin expanded 1270 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+2.6% +10.3%
1,229 1,114 1,197 Operating profit
from loss +93.5%
153 79.1 -3.0 OPM %
+1270 bps +535 bps
12.4% 7.1% -0.2% Other income
-43.0% -36.7%
15.0 23.7 26.3 Net profit?
+308.7% from loss 60.0 -2.7 14.7 PAT margin %
+366 bps +512 bps
4.9% -0.2% 1.2% EPS (₹)
+276.5% from loss 1.92 -0.09 0.51
Quality of profit
Pre-tax profit ₹69.0 Cr: core business ₹54.0 Cr, other income ₹15.0 Cr.
Core profit YoY: from loss
· reported profit +308.7%
Cash & debt
FY26 cash from operations −₹27.0 Cr.
Borrowings ₹1,305 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,246 ₹1,229
-1.3% in line
M Cap ₹13,845 Cr
P/E 9.6
PEG 1.06
Profit +16% above its own trend Gross NPA down 52 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Total income
+16.2% +7.6%
1,792 1,665 1,542 Net interest income
+23.9% +9.0%
704 646 568 Other income
+21.0% +23.5%
242 196 200 Net profit
+28.1% +9.4%
374 342 292 EPS (₹)
+28.1% +9.4%
23.60 21.57 18.43 Gross NPA %
-52 bps -18 bps
0.7% 0.9% 1.2% Net NPA %
-18 bps -2 bps
0.2% 0.2% 0.4%
Against its own trend ?
Trend Actual Gap
NII ₹575 ₹704
+22.4% above Net profit ₹322 ₹374
+16.3% above
M Cap ₹13,829 Cr
P/E 17.9
PEG 0.23
Profit +38% above its own trend Operating margin contracted 306 bps YoY Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+32.6% +5.9%
927 875 699 Operating profit
+13.1% -18.6%
164 202 145 OPM %
-306 bps -533 bps
17.7% 23.0% 20.7% Other income
— -24.4%
19.0 25.1 1.1 Net profit?
+61.4% -19.5%
153 190 94.8 PAT margin %
+295 bps -521 bps
16.5% 21.7% 13.6% EPS (₹)
+12.5% -30.8%
0.18 0.26 0.16
Quality of profit
Pre-tax profit ₹154 Cr: core business ₹134 Cr, other income ₹19.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +40.5%
· reported profit +61.4%
Cash & debt
FY26 cash from operations −₹77.0 Cr:
-11% of FY26 net profit of ₹715 Cr.
Borrowings ₹1,167 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,203 ₹927
-22.9% below Net profit ₹111 ₹153
+37.8% above
M Cap ₹13,725 Cr
P/E 22.5
PEG 0.75
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+21.1% +49.4%
369 247 305 Operating profit
+20.6% +23.6%
236 191 196 OPM %
-25 bps -1336 bps
64.0% 77.3% 64.2% Other income
+113.5% +63.6%
18.0 11.0 8.4 Net profit?
+27.9% +33.3%
180 135 141 PAT margin %
+261 bps -587 bps
48.8% 54.6% 46.2% EPS (₹)
+27.6% +33.8%
4.16 3.11 3.26
Quality of profit
Pre-tax profit ₹239 Cr: core business ₹220 Cr, other income ₹18.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +20.2%
· reported profit +27.9%
Cash & debt
Borrowings ₹143 Cr at Dec 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹343 ₹369
+7.4% above Net profit ₹166 ₹180
+8.2% in line
M Cap ₹13,619 Cr
P/E —
PEG —
Into loss: a profit a year ago Profit -460% below its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+10.8% +20.3%
2,283 1,898 2,061 Operating profit
+2.5% +38.8%
271 195 264 OPM %
-96 bps +158 bps
11.9% 10.3% 12.8% Other income
to loss to loss -700 12.8 15.9 Net profit?
to loss to loss -531 101 172 PAT margin %
-3159 bps -2858 bps
-23.3% 5.3% 8.3% EPS (₹)
to loss to loss -8.29 1.53 2.63
Quality of profit
Pre-tax profit −₹484 Cr: core business ₹217 Cr, other income −₹700 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +1.0%
Cash & debt
FY26 cash from operations ₹723 Cr.
Borrowings ₹199 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹2,124 ₹2,283
+7.5% above Net profit ₹147 −₹531
-460.4% below
M Cap ₹13,607 Cr
P/E 36.1
PEG 1.81
Profit -16% below its own trend Operating margin contracted 197 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+10.5% +26.8%
1,415 1,116 1,281 Operating profit
-4.2% +28.2%
182 142 190 OPM %
-197 bps +14 bps
12.9% 12.7% 14.8% Other income
-95.8% -75.0%
1.0 4.0 24.0 Net profit?
-18.8% -10.4%
112 125 138 PAT margin %
-286 bps -329 bps
7.9% 11.2% 10.8% EPS (₹)
+11.5% +66.2%
14.04 8.45 12.59
Quality of profit
Pre-tax profit ₹146 Cr: core business ₹145 Cr, other income ₹1.0 Cr.
Core profit YoY: -9.4%
· reported profit -18.8%
Cash & debt
FY26 cash from operations ₹334 Cr:
89% of FY26 net profit of ₹377 Cr.
Borrowings ₹250 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,261 ₹1,415
+12.3% above Net profit ₹134 ₹112
-16.3% below
M Cap ₹13,582 Cr
P/E 14.7
PEG —
Profit +185% 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 +14%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+15.6% +3.7%
3,536 3,410 3,060 Operating profit
+13.2% +3.3%
386 374 341 OPM %
-22 bps -4 bps
10.9% 11.0% 11.1% Other income
+705.3% +534.1%
208 32.8 25.8 Net profit?
+94.3% +124.0%
314 140 162 PAT margin %
+360 bps +477 bps
8.9% 4.1% 5.3% EPS (₹)
+94.5% +124.2%
17.17 7.66 8.83
Quality of profit
Pre-tax profit ₹421 Cr: core business ₹213 Cr, other income ₹208 Cr.
Core profit YoY: +14.0%
· reported profit +94.3%
Cash & debt
FY26 cash from operations ₹1,118 Cr:
125% of FY26 net profit of ₹895 Cr.
Borrowings ₹406 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹3,205 ₹3,536
+10.3% above Net profit ₹110 ₹314
+184.9% above
M Cap ₹13,552 Cr
P/E 55.0
PEG 3.24
Profit -30% below its own trend Operating margin contracted 294 bps YoY 32% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+1.0% -23.3%
601 784 595 Operating profit
-25.0% -60.8%
51.0 130 68.0 OPM %
-294 bps -810 bps
8.5% 16.6% 11.4% Other income
+12.5% from loss 18.0 -5.0 16.0 Net profit?
-23.1% -50.6%
40.0 81.0 52.0 PAT margin %
-208 bps -368 bps
6.7% 10.3% 8.7% EPS (₹)
-22.6% -50.8%
2.29 4.65 2.96
Quality of profit
Pre-tax profit ₹53.0 Cr: core business ₹36.0 Cr, other income ₹18.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: -32.1%
· reported profit -23.1%
Cash & debt
Borrowings ₹5.0 Cr at Dec 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹635 ₹601
-5.4% below Net profit ₹57.4 ₹40.0
-30.3% below
M Cap ₹13,494 Cr
P/E 16.7
PEG —
Profit +26% above its own trend Operating margin expanded 559 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+9.7% +41.3%
1,610 1,139 1,468 Operating profit
+37.9% +91.0%
439 230 318 OPM %
+559 bps +710 bps
27.3% 20.2% 21.7% Other income
-27.4% -33.2%
18.0 26.9 24.8 Net profit?
+26.3% +95.2%
280 143 222 PAT margin %
+229 bps +480 bps
17.4% 12.6% 15.1% EPS (₹)
+15.5% +79.0%
4.17 2.33 3.61
Quality of profit
Pre-tax profit ₹390 Cr: core business ₹372 Cr, other income ₹18.0 Cr.
Core profit YoY: +41.5%
· reported profit +26.3%
Cash & debt
FY26 cash from operations ₹1,157 Cr:
144% of FY26 net profit of ₹801 Cr.
Borrowings ₹443 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,428 ₹1,610
+12.8% above Net profit ₹222 ₹280
+26.2% above
M Cap ₹13,437 Cr
P/E 84.3
PEG —
Operating margin contracted 2467 bps YoY 35% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -54%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+20.5% -5.0%
188 198 156 Operating profit
-41.3% -22.0%
44.0 56.4 75.0 OPM %
-2467 bps -508 bps
23.4% 28.5% 48.1% Other income
— +72.3%
15.0 8.7 1.0 Net profit?
-18.4% +23.2%
40.0 32.5 49.0 PAT margin %
-1013 bps +487 bps
21.3% 16.4% 31.4% EPS (₹)
-26.5% +24.1%
2.47 1.99 3.36
Quality of profit
Pre-tax profit ₹46.0 Cr: core business ₹30.0 Cr, other income ₹15.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: -53.8%
· reported profit -18.4%
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
