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: 44 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 19 of 171
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M Cap ₹13,420 Cr
P/E —
PEG —
Into loss: a profit a year ago Profit -110% below its own trend Operating margin contracted 409 bps YoY Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+147.1% +52.3%
949 623 384 Operating profit
+97.6% +40.9%
155 110 78.4 OPM %
-409 bps -132 bps
16.3% 17.7% 20.4% Other income
to loss to loss -56.0 12.7 8.4 Net profit?
to loss loss narrowed -15.0 -105 77.3 PAT margin %
-2172 bps +1534 bps
-1.6% -16.9% 20.1% EPS (₹)
to loss loss narrowed -0.60 -4.67 4.01
Quality of profit
Pre-tax profit −₹15.0 Cr: core business ₹40.0 Cr, other income −₹56.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: -41.9%
Cash & debt
FY26 cash from operations −₹445 Cr:
-2142% of FY26 net profit of ₹20.8 Cr.
Borrowings ₹2,301 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹455 ₹949
+108.7% above Net profit ₹155 −₹15.0
-109.7% below
M Cap ₹13,312 Cr
P/E 22.6
PEG 0.43
Profit +97% above its own trend Operating margin expanded 271 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+23.3% +1.5%
4,219 4,157 3,421 Operating profit
+52.8% +5.3%
593 563 388 OPM %
+271 bps +51 bps
14.1% 13.5% 11.3% Other income
from loss from loss 16.0 -52.0 -33.0 Net profit?
+146.5% +57.4%
244 155 99.0 PAT margin %
+289 bps +205 bps
5.8% 3.7% 2.9% EPS (₹)
+145.0% +56.5%
60.28 38.51 24.60
Quality of profit
Pre-tax profit ₹340 Cr: core business ₹324 Cr, other income ₹16.0 Cr.
Core profit YoY: +100.0%
· reported profit +146.5%
Cash & debt
FY26 cash from operations ₹1,786 Cr:
256% of FY26 net profit of ₹697 Cr.
Borrowings ₹3,272 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹3,908 ₹4,219
+7.9% above Net profit ₹124 ₹244
+96.6% above
M Cap ₹13,263 Cr
P/E 59.0
PEG —
Profit -48% below its own trend Operating margin contracted 734 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+27.2% +24.1%
636 512 500 Operating profit
-5.2% +7.5%
137 127 144 OPM %
-734 bps -334 bps
21.5% 24.9% 28.9% Other income
-45.8% +42.8%
3.0 2.1 5.5 Net profit?
-11.0% -7.6%
56.0 60.6 62.9 PAT margin %
-378 bps -302 bps
8.8% 11.8% 12.6% EPS (₹)
-7.6% -13.0%
3.75 4.31 4.06
Quality of profit
Pre-tax profit ₹56.0 Cr: core business ₹52.0 Cr, other income ₹3.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: -37.0%
· reported profit -11.0%
Cash & debt
FY26 cash from operations ₹334 Cr:
150% of FY26 net profit of ₹222 Cr.
Borrowings ₹1,867 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹807 ₹636
-21.1% below Net profit ₹108 ₹56.0
-48.0% below
M Cap ₹13,238 Cr
P/E 38.7
PEG 0.27
Profit -23% below its own trend Operating margin expanded 327 bps YoY Core business grew faster than reported profit (core profit +68%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+17.6% +19.4%
722 605 614 Operating profit
+35.3% +18.9%
180 151 133 OPM %
+327 bps -10 bps
24.9% 25.0% 21.7% Other income
-73.3% -38.5%
4.0 6.5 15.0 Net profit?
+46.9% +25.6%
94.0 74.9 64.0 PAT margin %
+260 bps +64 bps
13.0% 12.4% 10.4% EPS (₹)
+40.9% +20.0%
23.96 19.97 17.01
Quality of profit
Pre-tax profit ₹130 Cr: core business ₹126 Cr, other income ₹4.0 Cr.
Core profit YoY: +68.0%
· reported profit +46.9%
Cash & debt
FY26 cash from operations ₹550 Cr:
174% of FY26 net profit of ₹316 Cr.
Borrowings ₹1,021 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹768 ₹722
-5.9% below Net profit ₹123 ₹94.0
-23.3% below
M Cap ₹13,211 Cr
P/E 29.8
PEG 0.76
Turnaround: profit against a loss a year ago Operating margin expanded 655 bps YoY All of pre-tax profit came from other income or one-off items Exceptional items of ₹187 Cr in the quarter
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+23.8% -17.7%
1,547 1,880 1,250 Operating profit
+59.6% -27.4%
452 622 283 OPM %
+655 bps -391 bps
29.2% 33.1% 22.7% Other income
+24.8% +92.5%
76.6 39.8 61.4 Net profit?
from loss +95.4%
186 95.4 -125 PAT margin %
+2207 bps +697 bps
12.0% 5.1% -10.0% EPS (₹)
from loss +95.0%
19.01 9.75 -12.73
Quality of profit
Pre-tax profit ₹212 Cr: core business −₹51.7 Cr, other income ₹76.6 Cr, exceptional & other items ₹187 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY26 cash from operations ₹2,160 Cr:
648% of FY26 net profit of ₹333 Cr.
Borrowings ₹6,779 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,386 ₹1,547
+11.6% above
M Cap ₹13,150 Cr
P/E 53.5
PEG 2.23
Operating margin expanded 138 bps YoY Core business grew faster than reported profit (core profit +36%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+27.6% +5.2%
361 343 283 Operating profit
+34.8% +19.2%
93.0 78.0 69.0 OPM %
+138 bps +302 bps
25.8% 22.7% 24.4% Other income
to loss to loss -5.0 10.0 8.0 Net profit?
+13.5% +1.7%
59.0 58.0 52.0 PAT margin %
-203 bps -57 bps
16.3% 16.9% 18.4% EPS (₹)
+14.2% +2.6%
14.28 13.92 12.50
Quality of profit
Pre-tax profit ₹79.0 Cr: core business ₹83.0 Cr, other income −₹5.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +36.1%
· reported profit +13.5%
Cash & debt
FY26 cash from operations ₹217 Cr:
97% of FY26 net profit of ₹223 Cr.
Borrowings ₹34.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹334 ₹361
+8.1% above Net profit ₹60.8 ₹59.0
-2.9% in line
M Cap ₹13,094 Cr
P/E 9.7
PEG 0.60
Profit +134% above its own trend Operating margin expanded 1234 bps YoY 35% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +224%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+14.2% -6.1%
1,513 1,612 1,325 Operating profit
+65.4% -11.1%
603 678 365 OPM %
+1234 bps -222 bps
39.9% 42.1% 27.5% Other income
+66.7% +114.5%
147 68.5 88.2 Net profit?
+118.8% +0.0%
405 405 185 PAT margin %
+1280 bps +164 bps
26.8% 25.1% 14.0% EPS (₹)
+118.9% +0.0%
8.69 8.69 3.97
Quality of profit
Pre-tax profit ₹416 Cr: core business ₹269 Cr, other income ₹147 Cr.
Core profit YoY: +223.6%
· reported profit +118.8%
Cash & debt
FY26 cash from operations ₹1,343 Cr:
99% of FY26 net profit of ₹1,353 Cr.
Borrowings ₹2,679 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,233 ₹1,513
+22.7% above Net profit ₹173 ₹405
+134.4% above
M Cap ₹12,981 Cr
P/E 48.5
PEG 3.73
Operating margin contracted 278 bps YoY 26% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-6.8% -34.1%
300 455 322 Operating profit
-16.9% -39.5%
69.0 114 83.0 OPM %
-278 bps -205 bps
23.0% 25.1% 25.8% Other income
+91.7% from loss 23.0 -15.0 12.0 Net profit
-4.4% -9.7%
65.0 72.0 68.0 PAT margin %
+55 bps +584 bps
21.7% 15.8% 21.1% EPS (₹)
-4.2% -9.8%
20.53 22.77 21.43
Quality of profit
Pre-tax profit ₹88.0 Cr: core business ₹65.0 Cr, other income ₹23.0 Cr.
Core profit YoY: -16.7%
· reported profit -4.4%
Cash & debt
FY26 cash from operations ₹274 Cr:
107% of FY26 net profit of ₹256 Cr.
Borrowings ₹9.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹334 ₹300
-10.3% below Net profit ₹66.4 ₹65.0
-2.0% in line
M Cap ₹12,970 Cr
P/E 22.1
PEG —
Profit -14% below its own trend Operating margin contracted 101 bps YoY 26% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +43%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+11.6% +13.6%
779 686 698 Operating profit
+9.4% +23.8%
385 311 352 OPM %
-101 bps +409 bps
49.4% 45.3% 50.4% Other income
+352.6% +152.9%
86.0 34.0 19.0 Net profit?
+71.5% +85.0%
259 140 151 PAT margin %
+1161 bps +1284 bps
33.2% 20.4% 21.6% EPS (₹)
+79.4% +97.0%
9.83 4.99 5.48
Quality of profit
Pre-tax profit ₹334 Cr: core business ₹248 Cr, other income ₹86.0 Cr.
Core profit YoY: +42.5%
· reported profit +71.5%
Cash & debt
FY26 cash from operations ₹950 Cr:
190% of FY26 net profit of ₹501 Cr.
Borrowings ₹2,574 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,396 ₹779
-44.2% below Net profit ₹302 ₹259
-14.2% below
M Cap ₹12,951 Cr
P/E 9.0
PEG 2.25
Profit +73% above its own trend Gross NPA down 30 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Total income
-1.1% +5.3%
2,656 2,522 2,686 Net interest income
+8.1% +6.4%
843 792 780 Other income
-6.8% +32.1%
399 302 428 Net profit
+61.9% +40.2%
408 291 252 EPS (₹)
+61.5% +40.3%
10.79 7.69 6.68 Gross NPA %
-30 bps -54 bps
2.8% 3.3% 3.1% Net NPA %
-33 bps -33 bps
1.0% 1.3% 1.3%
Against its own trend ?
Trend Actual Gap
NII ₹706 ₹843
+19.5% above Net profit ₹236 ₹408
+73.2% above
M Cap ₹12,940 Cr
P/E 120.5
PEG —
Profit -44% below its own trend Operating margin expanded 628 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+28.5% +10.7%
1,217 1,099 947 Operating profit
+106.1% +25.3%
203 162 98.5 OPM %
+628 bps +194 bps
16.7% 14.7% 10.4% Other income
-82.5% from loss 2.0 -9.0 11.5 Net profit?
-72.0% +300.0%
56.0 14.0 200 PAT margin %
-1650 bps +333 bps
4.6% 1.3% 21.1% EPS (₹)
-72.1% +310.7%
3.08 0.75 11.04
Quality of profit
Pre-tax profit ₹59.0 Cr: core business ₹58.0 Cr, other income ₹2.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: from loss
· reported profit -72.0%
Cash & debt
FY26 cash from operations ₹840 Cr:
1162% of FY26 net profit of ₹72.3 Cr.
Borrowings ₹2,449 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹917 ₹1,217
+32.7% above Net profit ₹99.9 ₹56.0
-44.0% below
M Cap ₹12,911 Cr
P/E 97.7
PEG —
Operating margin expanded 722 bps YoY Core business grew faster than reported profit (core profit +241%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-50.6% -67.3%
1,374 4,202 2,783 Operating profit
+241.2% from loss 116 -70.0 34.0 OPM %
+722 bps +1011 bps
8.4% -1.7% 1.2% Other income
to loss to loss -77.0 101 1.0 Net profit
+9.4% +25.0%
35.0 28.0 32.0 PAT margin %
+140 bps +188 bps
2.5% 0.7% 1.1% EPS (₹)
+8.8% +27.6%
0.37 0.29 0.34
Quality of profit
Pre-tax profit ₹39.0 Cr: core business ₹116 Cr, other income −₹77.0 Cr.
Core profit YoY: +241.2%
· reported profit +9.4%
M Cap ₹12,870 Cr
P/E 8.5
PEG 0.37
Gross NPA down 177 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Total income
+0.0% -2.0%
2,945 3,004 2,945 Net interest income
+5.4% +3.9%
915 881 868 Other income
-32.5% -20.6%
386 486 572 Net profit?
+19.0% +8.8%
407 374 342 EPS (₹)
+19.1% +9.1%
1.56 1.43 1.31 Gross NPA %
-177 bps -124 bps
1.4% 2.7% 3.2% Net NPA %
-63 bps -16 bps
0.3% 0.5% 0.9%
Against its own trend ?
Trend Actual Gap
NII ₹848 ₹915
+7.9% above Net profit ₹374 ₹407
+8.7% in line
M Cap ₹12,817 Cr
P/E 52.6
PEG 2.39
Operating margin expanded 113 bps YoY 28% 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
+12.5% +14.7%
1,852 1,614 1,646 Operating profit
+23.8% +32.3%
229 173 185 OPM %
+113 bps +164 bps
12.4% 10.7% 11.2% Other income
+76.5% +0.7%
30.0 29.8 17.0 Net profit?
+16.7% +40.0%
84.0 60.0 72.0 PAT margin %
+16 bps +82 bps
4.5% 3.7% 4.4% EPS (₹)
+11.7% +34.8%
3.14 2.33 2.81
Quality of profit
Pre-tax profit ₹108 Cr: core business ₹78.0 Cr, other income ₹30.0 Cr.
Core profit YoY: +5.4%
· reported profit +16.7%
Cash & debt
FY26 cash from operations −₹60.0 Cr:
-25% of FY26 net profit of ₹238 Cr.
Borrowings ₹3,029 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,813 ₹1,852
+2.1% in line Net profit ₹80.0 ₹84.0
+5.0% in line
M Cap ₹12,743 Cr
P/E 14.1
PEG —
Profit +580% above its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Total income
+18.6% +6.7%
2,185 2,047 1,843 Net interest income
+26.5% +9.2%
1,093 1,001 864 Other income
+13.7% +4.1%
307 295 270 Net profit
+239.8% +51.6%
282 186 83.0 EPS (₹)
+237.2% +51.0%
1.45 0.96 0.43 Gross NPA %
+8 bps -12 bps
2.3% 2.4% 2.2% Net NPA %
-6 bps -14 bps
0.4% 0.6% 0.5%
Against its own trend ?
Trend Actual Gap
NII ₹821 ₹1,093
+33.1% above Net profit ₹41.5 ₹282
+579.5% above
M Cap ₹12,716 Cr
P/E 17.9
PEG 0.85
Profit -33% below its own trend Operating margin contracted 592 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-15.9% -56.4%
1,918 4,400 2,280 Operating profit
-31.5% -58.4%
498 1,198 727 OPM %
-592 bps -126 bps
26.0% 27.2% 31.9% Other income
+9.5% -68.8%
69.0 221 63.0 Net profit?
-16.5% -51.1%
132 270 158 PAT margin %
-5 bps +75 bps
6.9% 6.1% 6.9% EPS (₹)
-16.2% -66.7%
0.93 2.79 1.11
Quality of profit
Pre-tax profit −₹29.0 Cr: core business −₹98.0 Cr, other income ₹69.0 Cr.
Core profit YoY: to loss
· reported profit -16.5%
Cash & debt
FY26 cash from operations ₹897 Cr:
132% of FY26 net profit of ₹680 Cr.
Borrowings ₹18,595 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹2,005 ₹1,918
-4.3% in line Net profit ₹197 ₹132
-32.9% below
M Cap ₹12,692 Cr
P/E 34.8
PEG 1.66
Profit +24% above its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+14.1% +25.0%
1,755 1,404 1,538 Operating profit
+19.5% +38.8%
171 123 143 OPM %
+44 bps +97 bps
9.7% 8.8% 9.3% Other income
+77.8% +39.6%
8.0 5.7 4.5 Net profit?
+22.9% +96.3%
112 57.1 91.1 PAT margin %
+46 bps +232 bps
6.4% 4.1% 5.9% EPS (₹)
+23.6% +97.7%
2.57 1.30 2.08
Quality of profit
Pre-tax profit ₹147 Cr: core business ₹140 Cr, other income ₹8.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +23.1%
· reported profit +22.9%
Cash & debt
FY26 cash from operations ₹459 Cr:
149% of FY26 net profit of ₹308 Cr.
Borrowings ₹165 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,648 ₹1,755
+6.5% above Net profit ₹90.1 ₹112
+24.3% above
M Cap ₹12,674 Cr
P/E 52.9
PEG 1.56
Operating margin contracted 156 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+18.7% +2.0%
604 592 509 Operating profit
+8.6% -2.3%
101 103 93.0 OPM %
-156 bps -74 bps
16.7% 17.5% 18.3% Other income
— +14.0%
4.0 3.5 0.0 Net profit?
+13.7% -5.5%
58.0 61.4 51.0 PAT margin %
-42 bps -77 bps
9.6% 10.4% 10.0% EPS (₹)
+17.2% -2.0%
9.35 9.54 7.98
Quality of profit
Pre-tax profit ₹79.0 Cr: core business ₹75.0 Cr, other income ₹4.0 Cr.
Core profit YoY: +9.3%
· reported profit +13.7%
Cash & debt
FY26 cash from operations ₹254 Cr:
106% of FY26 net profit of ₹239 Cr.
Borrowings ₹141 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹636 ₹604
-5.0% below Net profit ₹56.5 ₹58.0
+2.7% in line
M Cap ₹12,672 Cr
P/E 54.9
PEG 2.39
Profit +12% above its own trend 34% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +597%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+60.2% +110.8%
1,988 943 1,241 Operating profit
+44.1% +289.7%
152 39.0 105 OPM %
-85 bps +351 bps
7.6% 4.1% 8.5% Other income
-6.1% +5.0%
42.0 40.0 44.7 Net profit?
+124.4% +513.3%
92.0 15.0 41.0 PAT margin %
+132 bps +304 bps
4.6% 1.6% 3.3% EPS (₹)
+124.9% +496.5%
8.59 1.44 3.82
Quality of profit
Pre-tax profit ₹122 Cr: core business ₹80.0 Cr, other income ₹42.0 Cr.
Core profit YoY: +596.8%
· reported profit +124.4%
Cash & debt
FY26 cash from operations ₹430 Cr:
222% of FY26 net profit of ₹194 Cr.
Borrowings ₹1,057 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,760 ₹1,988
+13.0% above Net profit ₹82.0 ₹92.0
+12.2% above
M Cap ₹12,640 Cr
P/E 51.3
PEG —
Profit -47% below its own trend Operating margin contracted 469 bps YoY Core business grew faster than reported profit (core profit +65%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+68.1% +7.8%
391 363 233 Operating profit
+38.1% -17.1%
84.6 102 61.3 OPM %
-469 bps -648 bps
21.6% 28.1% 26.3% Other income
to loss to loss -7.1 12.0 9.5 Net profit?
+6.1% -41.0%
42.5 72.0 40.0 PAT margin %
-634 bps -898 bps
10.9% 19.8% 17.2% EPS (₹)
+6.0% -41.2%
7.12 12.10 6.72
Quality of profit
Pre-tax profit ₹63.6 Cr: core business ₹70.7 Cr, other income −₹7.1 Cr.
Core profit YoY: +64.8%
· reported profit +6.1%
Cash & debt
FY26 cash from operations ₹250 Cr:
116% of FY26 net profit of ₹215 Cr.
Borrowings ₹356 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹395 ₹391
-0.8% in line Net profit ₹80.1 ₹42.5
-47.0% below
M Cap ₹12,579 Cr
P/E 10.2
PEG —
Into loss: a profit a year ago Profit -127% below its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+15.7% -23.6%
7,882 10,312 6,811 Operating profit
+19.1% -26.8%
611 835 513 OPM %
+22 bps -35 bps
7.8% 8.1% 7.5% Other income
to loss to loss -430 60.0 459 Net profit?
to loss to loss -287 437 539 PAT margin %
-1155 bps -788 bps
-3.6% 4.2% 7.9% EPS (₹)
to loss to loss -18.74 13.05 16.12
Quality of profit
Pre-tax profit −₹162 Cr: core business ₹266 Cr, other income −₹430 Cr, exceptional & other items ₹2.0 Cr.
Core profit YoY: -3.3%
Cash & debt
FY26 cash from operations ₹1,542 Cr:
112% of FY26 net profit of ₹1,380 Cr.
Borrowings ₹3,528 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹8,417 ₹7,882
-6.4% below Net profit ₹1,078 −₹287
-126.6% below
M Cap ₹12,552 Cr
P/E 63.0
PEG 1.97
Profit +179% above its own trend Operating margin contracted 115 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+12.8% +3.5%
2,368 2,288 2,099 Operating profit
+0.5% +5.8%
222 210 221 OPM %
-115 bps +20 bps
9.4% 9.2% 10.5% Other income
from loss +62.9%
7.0 4.3 -51.0 Net profit?
+204.3% from loss 70.0 -11.3 23.0 PAT margin %
+186 bps +345 bps
3.0% -0.5% 1.1% EPS (₹)
+236.3% from loss 4.54 -0.67 1.35
Quality of profit
Pre-tax profit ₹109 Cr: core business ₹101 Cr, other income ₹7.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +2.0%
· reported profit +204.3%
Cash & debt
FY26 cash from operations ₹537 Cr:
235% of FY26 net profit of ₹229 Cr.
Borrowings ₹925 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹2,272 ₹2,368
+4.2% in line Net profit ₹25.1 ₹70.0
+179.2% above
M Cap ₹12,435 Cr
P/E 51.6
PEG 1.17
Profit -12% below its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+25.1% +211.3%
1,417 455 1,133 Operating profit
+29.3% +408.4%
203 39.9 157 OPM %
+47 bps +556 bps
14.3% 8.8% 13.9% Other income
-89.6% -36.9%
5.0 7.9 47.9 Net profit?
+22.5% +800.0%
98.0 10.9 80.0 PAT margin %
-14 bps +452 bps
6.9% 2.4% 7.1% EPS (₹)
+50.9% +708.1%
12.93 1.60 8.57
Quality of profit
Pre-tax profit ₹126 Cr: core business ₹120 Cr, other income ₹5.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: from loss
· reported profit +22.5%
Cash & debt
FY26 cash from operations ₹460 Cr:
191% of FY26 net profit of ₹241 Cr.
Borrowings ₹1,231 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,547 ₹1,417
-8.4% below Net profit ₹112 ₹98.0
-12.4% below
M Cap ₹12,378 Cr
P/E 62.4
PEG —
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+20.1% +3.2%
353 342 294 Operating profit
+14.9% -25.3%
62.0 83.0 54.0 OPM %
-80 bps -670 bps
17.6% 24.3% 18.4% Other income
+105.5% from loss 4.1 -17.0 2.0 Net profit?
+41.7% +10.6%
45.3 41.0 32.0 PAT margin %
+195 bps +85 bps
12.8% 12.0% 10.9% EPS (₹)
+43.6% +9.8%
7.41 6.75 5.16
Quality of profit
Pre-tax profit ₹54.7 Cr: core business ₹50.4 Cr, other income ₹4.1 Cr.
Core profit YoY: +19.9%
· reported profit +41.7%
M Cap ₹12,359 Cr
P/E —
PEG —
₹ Cr
Mar 2026
Sales
901 Operating profit
171 OPM %
19.0% Other income
3.0 Net profit
106 PAT margin %
11.8% EPS (₹)
3.47
Earlier quarters are on record only as consolidated figures, so they are not compared with this standalone statement.
Quality of profit
Pre-tax profit ₹144 Cr: core business ₹140 Cr, other income ₹3.0 Cr, exceptional & other items ₹1.0 Cr.
M Cap ₹12,348 Cr
P/E 38.4
PEG —
Operating margin expanded 343 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+16.9% +3.7%
886 854 758 Operating profit
+41.8% +57.3%
173 110 122 OPM %
+343 bps +665 bps
19.5% 12.9% 16.1% Other income
+150.0% +900.0%
20.0 2.0 8.0 Net profit?
+107.1% +16.0%
116 100 56.0 PAT margin %
+570 bps +138 bps
13.1% 11.7% 7.4% EPS (₹)
+67.5% -7.9%
6.85 7.44 4.09
Quality of profit
Pre-tax profit ₹143 Cr: core business ₹123 Cr, other income ₹20.0 Cr.
Core profit YoY: +59.7%
· reported profit +107.1%
M Cap ₹12,342 Cr
P/E 42.6
PEG 4.26
Profit +27% above its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+24.3% +3.3%
460 445 370 Operating profit
+26.4% -1.3%
145 147 115 OPM %
+52 bps -147 bps
31.5% 33.0% 31.0% Other income
-72.5% -62.0%
4.0 10.5 14.5 Net profit?
+37.9% +5.6%
78.0 73.9 56.6 PAT margin %
+168 bps +37 bps
17.0% 16.6% 15.3% EPS (₹)
+36.8% +6.3%
7.59 7.14 5.55
Quality of profit
Pre-tax profit ₹87.0 Cr: core business ₹84.0 Cr, other income ₹4.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +34.5%
· reported profit +37.9%
Cash & debt
FY26 cash from operations ₹420 Cr:
149% of FY26 net profit of ₹281 Cr.
Borrowings ₹891 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹399 ₹460
+15.4% above Net profit ₹61.6 ₹78.0
+26.6% above
M Cap ₹12,316 Cr
P/E 33.3
PEG 0.36
Operating margin contracted 115 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+22.3% +47.1%
1,414 961 1,156 Operating profit
+10.8% +28.4%
156 122 141 OPM %
-115 bps -161 bps
11.0% 12.6% 12.2% Other income
+180.7% +33.3%
32.0 24.0 11.4 Net profit?
+28.6% +40.2%
128 91.3 99.5 PAT margin %
+45 bps -45 bps
9.1% 9.5% 8.6% EPS (₹)
+28.7% +39.8%
20.59 14.73 16.00
Quality of profit
Pre-tax profit ₹170 Cr: core business ₹137 Cr, other income ₹32.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +16.2%
· reported profit +28.6%
Cash & debt
FY26 cash from operations ₹207 Cr:
56% of FY26 net profit of ₹370 Cr.
Borrowings ₹228 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,374 ₹1,414
+2.9% in line Net profit ₹123 ₹128
+3.7% in line
M Cap ₹12,307 Cr
P/E —
PEG —
Profit +31% above its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+8.7% -18.9%
399 492 367 Operating profit
+7.8% -17.9%
179 218 166 OPM %
-37 bps +55 bps
44.9% 44.3% 45.2% Other income
+18.2% +23.8%
26.0 21.0 22.0 Net profit
+12.9% -15.6%
114 135 101 PAT margin %
+105 bps +113 bps
28.6% 27.4% 27.5% EPS (₹)
+13.0% -15.3%
4.70 5.55 4.16
Quality of profit
Pre-tax profit ₹148 Cr: core business ₹122 Cr, other income ₹26.0 Cr.
Core profit YoY: +8.0%
· reported profit +12.9%
Cash & debt
FY26 cash from operations ₹481 Cr:
128% of FY26 net profit of ₹375 Cr.
Borrowings ₹458 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹366 ₹399
+9.0% above Net profit ₹87.1 ₹114
+30.9% above
M Cap ₹12,284 Cr
P/E 41.3
PEG —
Profit -26% below its own trend Operating margin contracted 282 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-34.3% +7.6%
1,371 1,274 2,087 Operating profit
-47.3% +3.7%
157 151 298 OPM %
-282 bps -43 bps
11.5% 11.9% 14.3% Other income
-65.6% -62.1%
6.9 18.1 20.0 Net profit?
-53.0% +30.3%
47.0 36.1 100 PAT margin %
-136 bps +60 bps
3.4% 2.8% 4.8% EPS (₹)
-54.7% +29.0%
1.20 0.93 2.65
Quality of profit
Pre-tax profit ₹66.3 Cr: core business ₹59.4 Cr, other income ₹6.9 Cr.
Core profit YoY: -44.4%
· reported profit -53.0%
Cash & debt
FY26 cash from operations ₹1,576 Cr:
666% of FY26 net profit of ₹237 Cr.
Borrowings ₹4,989 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹2,133 ₹1,371
-35.7% below Net profit ₹63.5 ₹47.0
-26.0% 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
