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
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Results by sector
1375 matching results 1375
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47% of pre-tax profit came from other income and one-off items
₹ Cr QoQ
Mar 2026 Dec 2025
Sales
+19.0%
27.0 22.7 Operating profit
+16.9%
2.2 1.9 OPM %
-15 bps
8.3% 8.5% Other income
+663.5%
0.6 0.1 Net profit?
+137.6%
1.0 0.4 PAT margin %
+185 bps
3.7% 1.9% EPS (₹)
+134.6%
0.61 0.26
Quality of profit
Pre-tax profit ₹1.3 Cr: core business ₹0.7 Cr, other income ₹0.6 Cr.
Cash & debt
FY26 cash from operations ₹2.2 Cr.
Borrowings nil at Mar 2026.
M Cap ₹138 Cr
P/E 114.4
PEG 3.57
Profit -85% below its own trend Operating margin contracted 587 bps YoY 39% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+3.3% -7.6%
118 128 115 Operating profit
-49.3% -36.3%
6.7 10.5 13.2 OPM %
-587 bps -255 bps
5.7% 8.2% 11.5% Other income
-62.1% from loss 0.8 -14.6 2.2 Net profit?
-85.5% from loss 0.9 -7.3 6.2 PAT margin %
-467 bps +644 bps
0.8% -5.7% 5.4% EPS (₹)
-86.0% from loss 0.15 -1.25 1.07
Quality of profit
Pre-tax profit ₹2.2 Cr: core business ₹1.4 Cr, other income ₹0.8 Cr.
Core profit YoY: -81.6%
· reported profit -85.5%
Cash & debt
FY26 cash from operations ₹37.0 Cr:
4568% of FY26 net profit of ₹0.8 Cr.
Borrowings ₹98.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹127 ₹118
-6.5% below Net profit ₹5.9 ₹0.9
-84.8% below
M Cap ₹130 Cr
P/E 20.2
PEG 0.88
Profit -30% below its own trend 33% of pre-tax profit came from other income and one-off items
₹ Cr YoY vs prev. half
Mar 2026 Sep 2025 Mar 2025
Sales
+3.8% -0.6%
109 110 105 Operating profit
+0.0% +14.6%
10.0 8.7 10.0 OPM %
-35 bps +121 bps
9.2% 8.0% 9.5% Other income
+100.0% +636.4%
2.0 0.3 1.0 Net profit?
-20.0% +63.9%
4.0 2.4 5.0 PAT margin %
-109 bps +144 bps
3.7% 2.2% 4.8% EPS (₹)
-5.8% +76.7%
2.12 1.20 2.25
Quality of profit
Pre-tax profit ₹6.0 Cr: core business ₹4.0 Cr, other income ₹2.0 Cr.
Core profit YoY: -20.0%
· reported profit -20.0%
Cash & debt
FY26 cash from operations ₹8.0 Cr.
Borrowings ₹66.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹118 ₹109
-7.9% below Net profit ₹5.7 ₹4.0
-29.7% below
M Cap ₹130 Cr
P/E 24.8
PEG —
Profit -93% below its own trend Operating margin contracted 499 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
+3.1% -17.0%
57.9 69.8 56.2 Operating profit
-45.2% -37.0%
3.3 5.2 6.0 OPM %
-499 bps -181 bps
5.7% 7.5% 10.7% Other income
-5.0% +327.8%
0.8 0.2 0.8 Net profit?
-91.0% -82.1%
0.2 1.4 2.8 PAT margin %
-452 bps -158 bps
0.4% 2.0% 5.0% EPS (₹)
-88.6% -78.4%
0.21 0.97 1.85
Quality of profit
Pre-tax profit ₹0.6 Cr: core business −₹0.1 Cr, other income ₹0.8 Cr.
Core profit YoY: to loss
· reported profit -91.0%
Cash & debt
FY26 cash from operations ₹19.0 Cr:
362% of FY26 net profit of ₹5.2 Cr.
Borrowings ₹82.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹64.5 ₹57.9
-10.2% below Net profit ₹3.6 ₹0.2
-93.0% below
M Cap ₹130 Cr
P/E 20.2
PEG 2.53
Operating margin expanded 213 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
-38.7% -9.0%
147 161 239 Operating profit
from loss +8.5%
3.1 2.8 -0.1 OPM %
+213 bps +34 bps
2.1% 1.8% -0.0% Other income
-91.4% -46.4%
0.7 1.4 8.6 Net profit
-39.7% +25.8%
2.0 1.6 3.4 PAT margin %
-2 bps +39 bps
1.4% 1.0% 1.4% EPS (₹)
-38.5% +33.3%
0.08 0.06 0.13
Quality of profit
Pre-tax profit ₹1.8 Cr: core business ₹1.0 Cr, other income ₹0.7 Cr.
Core profit YoY: from loss
· reported profit -39.7%
Cash & debt
FY26 cash from operations ₹19.0 Cr:
306% of FY26 net profit of ₹6.2 Cr.
Borrowings ₹55.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹282 ₹147
-48.1% below Net profit ₹2.2 ₹2.0
-7.8% in line
M Cap ₹126 Cr
P/E 15.8
PEG 0.63
Profit -18% below its own trend Operating margin expanded 206 bps YoY 38% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -50%) Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-13.1% -10.4%
35.0 39.0 40.2 Operating profit
+2.1% +18.9%
4.8 4.1 4.7 OPM %
+206 bps +341 bps
13.8% 10.4% 11.8% Other income
from loss +117.9%
1.2 0.6 -0.9 Net profit?
+11.2% -11.1%
2.1 2.4 1.9 PAT margin %
+130 bps -4 bps
6.0% 6.0% 4.7% EPS (₹)
-16.7% +25.0%
0.10 0.08 0.12
Quality of profit
Pre-tax profit ₹3.2 Cr: core business ₹2.0 Cr, other income ₹1.2 Cr.
Core profit YoY: -50.0%
· reported profit +11.2%
Cash & debt
FY26 cash from operations −₹37.0 Cr:
-464% of FY26 net profit of ₹8.0 Cr.
Borrowings ₹36.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹70.6 ₹35.0
-50.5% below Net profit ₹2.5 ₹2.1
-18.0% below
M Cap ₹126 Cr
P/E 35.9
PEG 8.98
Profit +443% above its own trend Operating margin contracted 442 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
-20.2% +35.3%
30.8 22.8 38.6 Operating profit
to loss to loss -0.7 0.7 0.8 OPM %
-442 bps -553 bps
-2.3% 3.2% 2.1% Other income
+655.8% +250.8%
4.1 1.2 0.5 Net profit
+392.2% +376.3%
2.1 0.4 0.4 PAT margin %
+563 bps +481 bps
6.7% 1.9% 1.1% EPS (₹)
+389.2% +376.3%
1.81 0.38 0.37
Quality of profit
Pre-tax profit ₹2.3 Cr: core business −₹1.8 Cr, other income ₹4.1 Cr.
Core profit YoY: to loss
· reported profit +392.2%
Cash & debt
FY26 cash from operations −₹9.0 Cr:
-328% of FY26 net profit of ₹2.7 Cr.
Borrowings ₹33.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹53.7 ₹30.8
-42.6% below Net profit ₹0.4 ₹2.1
+442.9% above
Turnaround: profit against a loss a year ago Operating margin expanded 6402 bps YoY 30% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+195.3% +1.5%
15.2 15.0 5.2 Operating profit
from loss from loss 3.1 -0.8 -2.2 OPM %
+6402 bps +2623 bps
20.7% -5.5% -43.3% Other income
+308.3% —
0.9 0.0 0.2 Net profit
from loss from loss 2.9 -1.6 -3.2 PAT margin %
+8220 bps +2972 bps
19.3% -10.4% -62.9% EPS (₹)
+351.7% from loss 1.31 -0.69 0.29
Quality of profit
Pre-tax profit ₹3.0 Cr: core business ₹2.1 Cr, other income ₹0.9 Cr.
Core profit YoY: from loss
Cash & debt
FY26 cash from operations −₹47.6 Cr.
Borrowings ₹35.3 Cr at Mar 2026.
M Cap ₹123 Cr
P/E 7.2
PEG 0.90
Profit +60% above its own trend Operating margin contracted 335 bps YoY 35% of pre-tax profit came from other income and one-off items FY26 operating cash flow was only 0% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+20.4% +8.4%
16.6 15.3 13.8 Operating profit
+4.3% -21.7%
3.6 4.6 3.5 OPM %
-335 bps -838 bps
21.7% 30.1% 25.1% Other income
+25.6% +89.8%
1.7 0.9 1.3 Net profit?
+14.7% -9.7%
3.4 3.7 2.9 PAT margin %
-102 bps -407 bps
20.3% 24.3% 21.3% EPS (₹)
+14.4% -9.8%
2.22 2.46 1.94
Quality of profit
Pre-tax profit ₹4.8 Cr: core business ₹3.2 Cr, other income ₹1.7 Cr.
Core profit YoY: +7.5%
· reported profit +14.7%
Cash & debt
FY26 cash from operations ₹0.0 Cr:
0% of FY26 net profit of ₹14.3 Cr.
Borrowings ₹10.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹11.9 ₹16.6
+39.3% above Net profit ₹2.1 ₹3.4
+60.1% above
M Cap ₹123 Cr
P/E 50.5
PEG —
Profit -86% below its own trend Operating margin contracted 1628 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
-7.3% -2.5%
70.7 72.5 76.3 Operating profit
-99.0% -96.1%
0.1 3.1 12.6 OPM %
-1628 bps -409 bps
0.2% 4.3% 16.5% Other income
from loss —
2.9 0.1 -1.7 Net profit?
-92.9% +96.8%
0.6 0.3 8.6 PAT margin %
-1047 bps +44 bps
0.9% 0.4% 11.3% EPS (₹)
-93.0% +83.3%
0.11 0.06 1.57
Quality of profit
Pre-tax profit ₹1.4 Cr: core business −₹1.5 Cr, other income ₹2.9 Cr.
Core profit YoY: to loss
· reported profit -92.9%
Cash & debt
FY26 cash from operations −₹4.0 Cr:
-282% of FY26 net profit of ₹1.4 Cr.
Borrowings ₹58.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹78.9 ₹70.7
-10.3% below Net profit ₹4.3 ₹0.6
-85.9% below
Operating margin expanded 320 bps YoY 25% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+0.2% +31.4%
35.1 26.8 35.1 Operating profit
+39.6% +194.8%
4.0 1.4 2.9 OPM %
+320 bps +628 bps
11.3% 5.0% 8.1% Other income
-61.3% +26.3%
0.2 0.2 0.6 Net profit?
-28.2% from loss 0.8 -1.3 1.2 PAT margin %
-95 bps +736 bps
2.4% -5.0% 3.3% EPS (₹)
-28.6% from loss 0.35 -0.56 0.49
Quality of profit
Pre-tax profit ₹1.0 Cr: core business ₹0.7 Cr, other income ₹0.2 Cr.
Core profit YoY: -33.3%
· reported profit -28.2%
Cash & debt
Borrowings ₹62.0 Cr at Mar 2026.
Profit +97% above its own trend 33% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -25%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+8.3% +26.3%
129 102 119 Operating profit
+5.0% +25.6%
23.5 18.7 22.4 OPM %
-57 bps -11 bps
18.3% 18.4% 18.9% Other income
+91.0% +532.2%
1.0 0.2 0.5 Net profit
-1.4% —
5.3 0.3 5.4 PAT margin %
-40 bps +388 bps
4.1% 0.3% 4.5% EPS (₹)
-4.9% —
0.78 0.04 0.82
Quality of profit
Pre-tax profit ₹3.0 Cr: core business ₹2.0 Cr, other income ₹1.0 Cr.
Core profit YoY: -25.4%
· reported profit -1.4%
Cash & debt
FY26 cash from operations ₹62.0 Cr.
Borrowings ₹268 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹135 ₹129
-4.7% in line Net profit ₹2.7 ₹5.3
+97.2% above
M Cap ₹121 Cr
P/E 17.3
PEG —
Profit -89% below its own trend Operating margin contracted 395 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
+19.7% +6.5%
38.8 36.4 32.4 Operating profit
-17.4% -15.8%
3.4 4.1 4.1 OPM %
-395 bps -234 bps
8.8% 11.1% 12.8% Other income
-99.6% -91.6%
0.0 0.2 4.9 Net profit?
-78.0% -36.7%
1.2 1.9 5.5 PAT margin %
-1373 bps -212 bps
3.1% 5.2% 16.8% EPS (₹)
-81.3% -35.9%
0.25 0.39 1.34
Quality of profit
Pre-tax profit ₹9.1 Cr: core business −₹3.9 Cr, other income ₹0.0 Cr, exceptional & other items ₹13.0 Cr.
Core profit YoY: to loss
· reported profit -78.0%
Against its own trend ?
Trend Actual Gap
Sales ₹52.9 ₹38.8
-26.8% below Net profit ₹10.9 ₹1.2
-89.0% below
M Cap ₹119 Cr
P/E 51.6
PEG —
Operating margin contracted 1592 bps YoY All of pre-tax profit came from other income or one-off items FY26 operating cash flow was only 14% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+8.2% -3.3%
9.9 10.2 9.1 Operating profit
-91.7% -76.4%
0.1 0.6 1.6 OPM %
-1592 bps -407 bps
1.3% 5.4% 17.2% Other income
+303.7% +384.4%
2.2 0.5 0.5 Net profit?
+61.3% +837.5%
1.5 0.2 0.9 PAT margin %
+500 bps +1364 bps
15.2% 1.6% 10.2% EPS (₹)
-30.7% from loss 0.52 -0.04 0.75
Quality of profit
Pre-tax profit ₹1.6 Cr: core business −₹0.6 Cr, other income ₹2.2 Cr.
Core profit YoY: to loss
· reported profit +61.3%
Cash & debt
FY26 cash from operations ₹0.3 Cr:
14% of FY26 net profit of ₹2.1 Cr.
Borrowings ₹24.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹9.6 ₹9.9
+2.9% in line
M Cap ₹119 Cr
P/E 13.1
PEG 0.94
Profit -98% below its own trend Operating margin contracted 269 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
-1.0% -0.8%
155 156 156 Operating profit
-77.0% -72.1%
1.3 4.5 5.5 OPM %
-269 bps -208 bps
0.8% 2.9% 3.5% Other income
+10.7% +45.9%
1.2 0.8 1.1 Net profit?
-95.0% -87.3%
0.3 2.3 5.8 PAT margin %
-353 bps -128 bps
0.2% 1.5% 3.7% EPS (₹)
-93.9% -84.3%
0.22 1.40 3.60
Quality of profit
Pre-tax profit ₹0.4 Cr: core business −₹0.8 Cr, other income ₹1.2 Cr.
Core profit YoY: to loss
· reported profit -95.0%
Cash & debt
FY26 cash from operations ₹21.0 Cr:
267% of FY26 net profit of ₹7.9 Cr.
Borrowings ₹40.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹149 ₹155
+4.2% in line Net profit ₹11.6 ₹0.3
-97.5% below
M Cap ₹119 Cr
P/E 1.1
PEG 0.04
Turnaround: profit against a loss a year ago Operating margin contracted 534 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
-6.5% +17.9%
271 230 290 Operating profit
-22.3% -57.2%
71.0 166 91.4 OPM %
-534 bps -4597 bps
26.2% 72.2% 31.5% Other income
+550.9% +336.0%
199 45.6 30.6 Net profit?
from loss from loss 122 -85.7 -165 PAT margin %
+10207 bps +8227 bps
45.0% -37.3% -57.1% EPS (₹)
from loss from loss 4.73 -4.23 -9.01
Quality of profit
Pre-tax profit ₹161 Cr: core business −₹38.0 Cr, other income ₹199 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY26 cash from operations ₹749 Cr:
794% of FY26 net profit of ₹94.3 Cr.
Borrowings ₹3,264 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹246 ₹271
+10.3% above
M Cap ₹116 Cr
P/E 18.1
PEG 0.19
Turnaround: profit against a loss a year ago Operating margin expanded 4034 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
+440.1% +431.6%
13.6 2.6 2.5 Operating profit
from loss -88.2%
0.1 0.8 -1.0 OPM %
+4034 bps -2903 bps
0.7% 29.7% -39.7% Other income
+69.0% +294.4%
0.7 0.2 0.4 Net profit
from loss -9.1%
0.2 0.2 -0.7 PAT margin %
+2964 bps -712 bps
1.5% 8.6% -28.2% EPS (₹)
from loss +0.0%
0.04 0.04 -0.14
Quality of profit
Pre-tax profit ₹0.2 Cr: core business −₹0.5 Cr, other income ₹0.7 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY26 cash from operations ₹5.3 Cr:
428% of FY26 net profit of ₹1.2 Cr.
Borrowings nil at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1.3 ₹13.6
+980.2% above
Turnaround: profit against a loss a year ago Operating margin expanded 359 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
+23.8% +51.8%
40.8 26.9 33.0 Operating profit
— from loss 1.6 -1.0 0.1 OPM %
+359 bps +764 bps
3.9% -3.7% 0.3% Other income
+245.9% from loss 6.0 -0.3 1.7 Net profit?
from loss from loss 2.2 -6.0 -6.7 PAT margin %
+2565 bps +2761 bps
5.5% -22.1% -20.2% EPS (₹)
from loss from loss 0.14 -0.37 -0.41
Quality of profit
Pre-tax profit ₹2.6 Cr: core business −₹3.3 Cr, other income ₹6.0 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY26 cash from operations ₹0.0 Cr.
Borrowings ₹102 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹26.1 ₹40.8
+56.4% above
Profit +999% above its own trend 62% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -6%) Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+4.5% +22.0%
53.9 44.1 51.6 Operating profit
+5.5% from loss 2.9 -6.4 2.8 OPM %
+5 bps +1983 bps
5.4% -14.4% 5.3% Other income
+823.3% +195.8%
2.1 0.7 0.2 Net profit?
+689.8% from loss 9.0 -7.4 1.1 PAT margin %
+1443 bps +3344 bps
16.6% -16.8% 2.2% EPS (₹)
+645.4% from loss 1.61 -1.29 adj. 0.22
EPS restated for the ₹5 to ₹2 split of Aug 2025: Mar 2025 ₹0.54 to ₹0.22.
Quality of profit
Pre-tax profit ₹3.4 Cr: core business ₹1.3 Cr, other income ₹2.1 Cr.
Core profit YoY: -6.3%
· reported profit +689.8%
Cash & debt
FY26 cash from operations −₹2.0 Cr:
-3% of FY26 net profit of ₹75.6 Cr.
Borrowings ₹31.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹61.8 ₹53.9
-12.9% below Net profit ₹0.7 ₹9.0
+999.0% above
M Cap ₹109 Cr
P/E 276.2
PEG 4.06
Profit -86% below its own trend Operating margin contracted 483 bps YoY 45% 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
+152.0% +799.2%
22.5 2.5 8.9 Operating profit
+92.3% —
3.5 0.1 1.8 OPM %
-483 bps +1037 bps
15.6% 5.2% 20.4% Other income
+11.1% +11.1%
0.1 0.1 0.1 Net profit
-88.3% +28.6%
0.1 0.1 0.8 PAT margin %
-823 bps -240 bps
0.4% 2.8% 8.6% EPS (₹)
-87.1% +33.3%
0.04 0.03 0.31
Quality of profit
Pre-tax profit ₹0.2 Cr: core business ₹0.1 Cr, other income ₹0.1 Cr.
Core profit YoY: -81.8%
· reported profit -88.3%
Cash & debt
FY26 cash from operations −₹47.3 Cr:
-9096% of FY26 net profit of ₹0.5 Cr.
Borrowings ₹73.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹5.5 ₹22.5
+312.4% above Net profit ₹0.6 ₹0.1
-85.6% below
M Cap ₹108 Cr
P/E 21.7
PEG —
Profit -25% below its own trend Operating margin contracted 622 bps YoY 50% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +0%)
₹ Cr YoY vs prev. half
Mar 2026 Sep 2025 Mar 2025
Sales
+127.6% +53.5%
66.0 43.0 29.0 Operating profit
+25.0% +25.0%
5.0 4.0 4.0 OPM %
-622 bps -173 bps
7.6% 9.3% 13.8% Other income
— —
1.0 0.0 0.0 Net profit?
+50.0% +50.0%
3.0 2.0 2.0 PAT margin %
-235 bps -11 bps
4.5% 4.7% 6.9% EPS (₹)
+36.5% +38.2%
2.28 1.65 1.67
Quality of profit
Pre-tax profit ₹4.0 Cr: core business ₹2.0 Cr, other income ₹1.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +0.0%
· reported profit +50.0%
Cash & debt
FY26 cash from operations ₹15.0 Cr.
Borrowings ₹20.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹37.3 ₹66.0
+77.0% above Net profit ₹4.0 ₹3.0
-25.0% below
Turnaround: profit against a loss a year ago Operating margin expanded 833 bps YoY 49% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+14.9% +10.8%
12.5 11.3 10.9 Operating profit
— -35.9%
1.1 1.7 0.0 OPM %
+833 bps -619 bps
8.5% 14.7% 0.2% Other income
-50.3% +17.5%
0.3 0.2 0.6 Net profit?
from loss +160.1%
0.6 0.2 -0.1 PAT margin %
+550 bps +258 bps
4.5% 1.9% -1.0% EPS (₹)
— +0.0%
0.02 0.02 0.00
Quality of profit
Pre-tax profit ₹0.7 Cr: core business ₹0.4 Cr, other income ₹0.3 Cr.
Core profit YoY: from loss
Cash & debt
FY26 cash from operations ₹8.0 Cr:
9853% of FY26 net profit of ₹0.1 Cr.
Borrowings ₹5.1 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹10.6 ₹12.5
+17.7% above
M Cap ₹108 Cr
P/E 1.3
PEG 0.12
Operating margin contracted 1429 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
+40.0% -49.1%
28.0 55.0 20.0 Operating profit
— loss widened -4.0 -1.0 0.0 OPM %
-1429 bps -1247 bps
-14.3% -1.8% 0.0% Other income
-75.2% —
96.0 8.0 387 Net profit
-76.6% from loss 88.0 -4.0 376 EPS (₹)
-76.7% from loss 23.64 -1.14 101.33
Quality of profit
Pre-tax profit ₹96.0 Cr: core business ₹0.0 Cr, other income ₹96.0 Cr.
Core profit YoY: loss narrowed
· reported profit -76.6%
Cash & debt
FY26 cash from operations −₹65.0 Cr:
-80% of FY26 net profit of ₹81.0 Cr.
Borrowings ₹147 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹29.2 ₹28.0
-4.1% in line
M Cap ₹106 Cr
P/E 26.5
PEG —
Profit -85% below its own trend All of pre-tax profit came from other income or one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-2.4% +31.0%
241 184 246 Operating profit
-18.1% +72.8%
12.1 7.0 14.7 OPM %
-96 bps +121 bps
5.0% 3.8% 6.0% Other income
-34.3% -72.7%
1.6 5.9 2.5 Net profit
-70.6% +59.6%
0.8 0.5 2.8 PAT margin %
-80 bps +6 bps
0.3% 0.3% 1.1% EPS (₹)
-70.7% +57.1%
0.44 0.28 1.50
Quality of profit
Pre-tax profit ₹1.5 Cr: core business −₹0.1 Cr, other income ₹1.6 Cr.
Core profit YoY: to loss
· reported profit -70.6%
Cash & debt
FY26 cash from operations ₹62.0 Cr:
1987% of FY26 net profit of ₹3.1 Cr.
Borrowings ₹258 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹250 ₹241
-3.7% in line Net profit ₹5.6 ₹0.8
-85.3% below
M Cap ₹105 Cr
P/E 24.1
PEG 0.83
Profit +58% above its own trend Operating margin contracted 124 bps YoY 77% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -36%)
₹ Cr YoY vs prev. half
Mar 2026 Sep 2025 Mar 2025
Sales
-2.1% -14.8%
31.5 37.0 32.2 Operating profit
-16.2% -7.6%
2.3 2.5 2.8 OPM %
-124 bps +57 bps
7.4% 6.8% 8.6% Other income
+178.4% +30.4%
2.1 1.6 0.7 Net profit?
+44.3% +10.7%
2.3 2.1 1.6 PAT margin %
+233 bps +166 bps
7.2% 5.6% 4.9% EPS (₹)
+44.9% +11.2%
1.29 1.16 0.89
Quality of profit
Pre-tax profit ₹2.7 Cr: core business ₹0.6 Cr, other income ₹2.1 Cr.
Core profit YoY: -35.8%
· reported profit +44.3%
Cash & debt
FY26 cash from operations −₹0.7 Cr.
Borrowings ₹21.4 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹38.3 ₹31.5
-17.7% below Net profit ₹1.4 ₹2.3
+58.3% above
M Cap ₹104 Cr
P/E 23.3
PEG —
Turnaround: profit against a loss a year ago Operating margin expanded 1799 bps YoY All of pre-tax profit came from other income or one-off items FY26 operating cash flow was only 0% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-16.5% +9.2%
26.9 24.6 32.2 Operating profit
loss narrowed to loss -0.2 1.6 -6.0 OPM %
+1799 bps -707 bps
-0.7% 6.3% -18.7% Other income
+26.0% +41.6%
1.3 0.9 1.0 Net profit
from loss -79.2%
0.3 1.3 -4.3 PAT margin %
+1430 bps -427 bps
1.0% 5.3% -13.3% EPS (₹)
from loss -80.0%
0.02 0.10 -0.40
Quality of profit
Pre-tax profit ₹0.2 Cr: core business −₹1.1 Cr, other income ₹1.3 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY26 cash from operations ₹0.0 Cr:
0% of FY26 net profit of ₹4.0 Cr.
Borrowings ₹19.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹37.2 ₹26.9
-27.7% below
M Cap ₹104 Cr
P/E 21.3
PEG —
Operating margin expanded 120 bps YoY 30% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +387%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+28.9% +29.9%
62.0 47.7 48.1 Operating profit
+83.2% +19.5%
2.5 2.1 1.4 OPM %
+120 bps -35 bps
4.0% 4.4% 2.8% Other income
-27.8% +32.7%
0.7 0.5 0.9 Net profit
+122.4% +14.6%
1.5 1.3 0.7 PAT margin %
+101 bps -32 bps
2.4% 2.7% 1.4% EPS (₹)
+122.4% +14.7%
1.09 0.95 0.49
Quality of profit
Pre-tax profit ₹2.2 Cr: core business ₹1.5 Cr, other income ₹0.7 Cr.
Core profit YoY: +387.1%
· reported profit +122.4%
M Cap ₹102 Cr
P/E 35.2
PEG —
Profit -36% below its own trend Operating margin contracted 4653 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
-17.5% -11.5%
7.9 9.0 9.6 Operating profit
to loss to loss -2.4 1.2 1.5 OPM %
-4653 bps -4392 bps
-30.6% 13.3% 15.9% Other income
+191.6% +498.2%
6.5 1.1 2.2 Net profit?
+28.2% from loss 1.1 -0.2 0.9 PAT margin %
+489 bps +1642 bps
13.7% -2.7% 8.9% EPS (₹)
+27.3% from loss 0.14 -0.03 0.11
Quality of profit
Pre-tax profit ₹1.5 Cr: core business −₹5.0 Cr, other income ₹6.5 Cr.
Core profit YoY: loss widened
· reported profit +28.2%
Cash & debt
FY26 cash from operations ₹10.2 Cr:
355% of FY26 net profit of ₹2.9 Cr.
Borrowings ₹48.6 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹10.8 ₹7.9
-26.4% below Net profit ₹1.7 ₹1.1
-35.9% below
M Cap ₹101 Cr
P/E 0.2
PEG 0.02
Profit +999% above its own trend Operating margin contracted 9310 bps YoY All of pre-tax profit came from other income or one-off items FY26 operating cash flow was only 28% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-17.1% +5.5%
58.0 55.0 70.0 Operating profit
to loss to loss -25.0 8.0 35.0 OPM %
-9310 bps -5765 bps
-43.1% 14.5% 50.0% Other income
— —
610 0.0 2.0 Net profit
— from loss 609 -3.0 11.0 EPS (₹)
— from loss 38.72 -0.17 0.71
Quality of profit
Pre-tax profit ₹574 Cr: core business −₹36.0 Cr, other income ₹610 Cr.
Core profit YoY: to loss
Cash & debt
FY26 cash from operations ₹166 Cr:
28% of FY26 net profit of ₹583 Cr.
Borrowings ₹4,890 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹68.2 ₹58.0
-15.0% below Net profit ₹7.2 ₹609
+999.0% above
M Cap ₹101 Cr
P/E 235.9
PEG —
Profit +57% above its own trend Operating margin contracted 204 bps YoY 54% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +171%)
₹ Cr YoY vs prev. half
Mar 2026 Sep 2025 Mar 2025
Sales
+3.2% +163.5%
21.4 8.1 20.7 Operating profit
-52.6% from loss 0.4 -0.3 0.8 OPM %
-204 bps +592 bps
1.7% -4.2% 3.8% Other income
-68.6% -52.2%
0.2 0.5 0.7 Net profit
-21.6% —
0.4 0.0 0.5 PAT margin %
-59 bps +150 bps
1.9% 0.4% 2.5% EPS (₹)
-25.0% —
0.06 0.00 0.08
Quality of profit
Pre-tax profit ₹0.4 Cr: core business ₹0.2 Cr, other income ₹0.2 Cr.
Core profit YoY: +171.4%
· reported profit -21.6%
Cash & debt
FY26 cash from operations −₹9.3 Cr.
Borrowings ₹2.2 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹10.8 ₹21.4
+98.1% above Net profit ₹0.3 ₹0.4
+56.9% above
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, 21:52 IST
