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
Results calendar
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The next results season has started: 45 companies have filed results for the quarter ended 30 Sep 2026.
See them → Q4 FY26 scoreboard
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 23 of 171
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M Cap ₹8,683 Cr
P/E 3.5
PEG 0.11
Profit +23% above its own trend Exceptional items of ₹87.7 Cr in the quarter Profit grew faster than the core business (core profit +5%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+6.6% -4.9%
4,818 5,066 4,519 Operating profit
+3.1% -12.3%
827 943 802 OPM %
-58 bps -145 bps
17.2% 18.6% 17.7% Other income
+59.6% +123.1%
174 78.0 109 Net profit?
+33.5% +19.2%
781 655 585 PAT margin %
+326 bps +328 bps
16.2% 12.9% 12.9% EPS (₹)
+43.8% +40.3%
63.63 45.34 44.24
Quality of profit
Pre-tax profit ₹889 Cr: core business ₹714 Cr, other income ₹174 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +5.2%
· reported profit +33.5%
Cash & debt
FY26 cash from operations ₹2,418 Cr:
97% of FY26 net profit of ₹2,500 Cr.
Borrowings ₹1,590 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹4,910 ₹4,818
-1.9% in line Net profit ₹633 ₹781
+23.5% above
M Cap ₹8,679 Cr
P/E 13.2
PEG —
Profit +43% above its own trend Operating margin expanded 166 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+14.4% +25.0%
1,511 1,209 1,321 Operating profit
+22.3% +54.2%
387 251 316 OPM %
+166 bps +484 bps
25.6% 20.7% 23.9% Other income
+116.2% -30.0%
19.5 27.9 9.0 Net profit?
+51.0% +104.0%
236 116 156 PAT margin %
+379 bps +606 bps
15.6% 9.6% 11.8% EPS (₹)
+50.9% +103.8%
4.85 2.38 adj. 3.21
EPS restated for the 2:1 bonus of Sep 2025: Mar 2025 ₹9.64 to ₹3.21.
Quality of profit
Pre-tax profit ₹297 Cr: core business ₹277 Cr, other income ₹19.5 Cr.
Core profit YoY: +41.9%
· reported profit +51.0%
Against its own trend ?
Trend Actual Gap
Sales ₹2,643 ₹1,511
-42.8% below Net profit ₹165 ₹236
+42.9% above
₹ Cr
Mar 2026
Sales
299 Operating profit
88.0 OPM %
29.4% Other income
2.0 Net profit
63.0 PAT margin %
21.1% EPS (₹)
8.41
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 ₹84.0 Cr: core business ₹82.0 Cr, other income ₹2.0 Cr.
M Cap ₹8,650 Cr
P/E 260.1
PEG —
Profit -18% below its own trend Operating margin expanded 112 bps YoY Core business grew faster than reported profit (core profit +477%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+11.5% +3.0%
652 633 585 Operating profit
+18.4% +14.2%
125 110 106 OPM %
+112 bps +187 bps
19.2% 17.3% 18.1% Other income
to loss loss widened -18.3 -10.2 10.2 Net profit?
-40.3% from loss 4.0 -7.9 6.8 PAT margin %
-54 bps +187 bps
0.6% -1.2% 1.2% EPS (₹)
-70.0% from loss 0.15 -0.63 0.50
Quality of profit
Pre-tax profit ₹1.2 Cr: core business ₹19.6 Cr, other income −₹18.3 Cr.
Core profit YoY: +477.3%
· reported profit -40.3%
Cash & debt
FY26 cash from operations ₹347 Cr:
1523% of FY26 net profit of ₹22.8 Cr.
Borrowings ₹1,735 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹684 ₹652
-4.6% in line Net profit ₹4.9 ₹4.0
-17.8% below
Operating margin expanded 241 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+12.1% -10.8%
2,163 2,424 1,930 Operating profit
+337.5% -27.8%
70.0 97.0 16.0 OPM %
+241 bps -77 bps
3.2% 4.0% 0.8% Other income
+41.7% -58.5%
17.0 41.0 12.0 Net profit?
loss narrowed loss widened -48.0 -39.0 -112 PAT margin %
+358 bps -61 bps
-2.2% -1.6% -5.8% EPS (₹)
loss narrowed loss widened -0.58 -0.55 -1.47
Quality of profit
Pre-tax profit −₹53.0 Cr: core business −₹70.0 Cr, other income ₹17.0 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY26 cash from operations ₹365 Cr.
Borrowings ₹1,594 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹2,165 ₹2,163
-0.1% in line
M Cap ₹8,522 Cr
P/E 19.0
PEG —
Profit +999% above its own trend 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
— +194.1%
1.0 0.3 0.0 Operating profit
loss widened loss widened -113 -23.0 -27.0 Other income
+370.8% +222.9%
226 70.0 48.0 Net profit?
— +172.3%
126 46.3 2.0 EPS (₹)
— +171.0%
0.84 0.31 0.01
Quality of profit
Pre-tax profit ₹110 Cr: core business −₹115 Cr, other income ₹226 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: loss widened
Cash & debt
FY26 cash from operations −₹605 Cr:
-156% of FY26 net profit of ₹387 Cr.
Borrowings nil at Mar 2026.
Against its own trend ?
Trend Actual Gap
Net profit ₹4.0 ₹126
+999.0% above
M Cap ₹8,519 Cr
P/E 136.2
PEG 4.87
Operating margin expanded 115 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+40.2% +10.1%
71.0 64.5 50.7 Operating profit
+45.8% +9.9%
21.0 19.1 14.4 OPM %
+115 bps -6 bps
29.6% 29.6% 28.4% Other income
-100.0% -100.0%
0.0 0.9 0.4 Net profit?
+48.1% +6.2%
15.0 14.1 10.1 PAT margin %
+114 bps -77 bps
21.1% 21.9% 20.0% EPS (₹)
+49.3% +7.1%
3.30 3.08 2.21
Quality of profit
Pre-tax profit ₹19.0 Cr: core business ₹19.0 Cr, other income ₹0.0 Cr.
Core profit YoY: +50.1%
· reported profit +48.1%
Cash & debt
FY26 cash from operations ₹37.0 Cr:
68% of FY26 net profit of ₹54.6 Cr.
Borrowings ₹5.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹65.8 ₹71.0
+7.9% above Net profit ₹14.4 ₹15.0
+4.0% in line
M Cap ₹8,514 Cr
P/E 8.2
PEG —
Profit +48% above its own trend Operating margin expanded 1015 bps YoY Core business grew faster than reported profit (core profit +143%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+7.4% +10.6%
2,208 1,996 2,055 Operating profit
+100.8% +166.3%
482 181 240 OPM %
+1015 bps +1276 bps
21.8% 9.1% 11.7% Other income
+2.5% +28.9%
125 97.0 122 Net profit?
+87.7% +164.0%
396 150 211 PAT margin %
+767 bps +1042 bps
17.9% 7.5% 10.3% EPS (₹)
+87.7% +164.0%
26.95 10.21 14.36
Quality of profit
Pre-tax profit ₹526 Cr: core business ₹401 Cr, other income ₹125 Cr.
Core profit YoY: +143.0%
· reported profit +87.7%
Cash & debt
FY26 cash from operations ₹654 Cr:
81% of FY26 net profit of ₹808 Cr.
Borrowings ₹6.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹2,056 ₹2,208
+7.4% above Net profit ₹268 ₹396
+47.6% above
M Cap ₹8,468 Cr
P/E 24.1
PEG 2.19
Profit -43% below its own trend Operating margin contracted 648 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+16.7% +15.9%
847 731 726 Operating profit
-10.2% +83.4%
183 100 204 OPM %
-648 bps +797 bps
21.6% 13.7% 28.1% Other income
+65.4% from loss 37.5 -9.0 22.6 Net profit?
-11.9% +345.3%
120 27.0 136 PAT margin %
-460 bps +1050 bps
14.2% 3.7% 18.8% EPS (₹)
-11.6% +325.5%
8.68 2.04 9.82
Quality of profit
Pre-tax profit ₹162 Cr: core business ₹123 Cr, other income ₹37.5 Cr, exceptional & other items ₹2.1 Cr.
Core profit YoY: -24.3%
· reported profit -11.9%
Cash & debt
FY26 cash from operations ₹510 Cr:
149% of FY26 net profit of ₹343 Cr.
Borrowings ₹159 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹865 ₹847
-2.0% in line Net profit ₹212 ₹120
-43.4% below
M Cap ₹8,462 Cr
P/E 38.1
PEG 2.93
Profit -12% below its own trend Operating margin contracted 203 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+7.6% +4.5%
396 379 368 Operating profit
-4.5% -17.1%
63.0 76.0 66.0 OPM %
-203 bps -414 bps
15.9% 20.1% 17.9% Other income
+0.0% from loss 2.0 -13.0 2.0 Net profit
-6.4% +2.3%
44.0 43.0 47.0 PAT margin %
-166 bps -23 bps
11.1% 11.3% 12.8% EPS (₹)
-8.2% +1.3%
28.29 27.93 30.81
Quality of profit
Pre-tax profit ₹60.0 Cr: core business ₹59.0 Cr, other income ₹2.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: -3.3%
· reported profit -6.4%
Cash & debt
FY26 cash from operations ₹181 Cr:
87% of FY26 net profit of ₹207 Cr.
Borrowings ₹3.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹405 ₹396
-2.3% in line Net profit ₹50.1 ₹44.0
-12.2% below
M Cap ₹8,453 Cr
P/E 36.4
PEG —
Profit -21% below its own trend Operating margin contracted 122 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-5.7% +13.2%
249 220 264 Operating profit
-8.6% +33.3%
96.0 72.0 105 OPM %
-122 bps +583 bps
38.6% 32.7% 39.8% Other income
-75.0% -70.0%
3.0 10.0 12.0 Net profit?
-21.6% +26.1%
58.0 46.0 74.0 PAT margin %
-474 bps +238 bps
23.3% 20.9% 28.0% EPS (₹)
-21.4% +26.9%
5.48 4.32 6.97
Quality of profit
Pre-tax profit ₹78.0 Cr: core business ₹75.0 Cr, other income ₹3.0 Cr.
Core profit YoY: -14.8%
· reported profit -21.6%
Cash & debt
FY26 cash from operations ₹275 Cr:
117% of FY26 net profit of ₹236 Cr.
Borrowings ₹2.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹265 ₹249
-6.2% below Net profit ₹73.6 ₹58.0
-21.2% below
M Cap ₹8,444 Cr
P/E 32.2
PEG —
Profit +74% above its own trend Operating margin expanded 759 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+20.3% +74.9%
712 407 592 Operating profit
+69.6% +134.3%
186 79.4 110 OPM %
+759 bps +662 bps
26.1% 19.5% 18.5% Other income
+6.8% -1.6%
6.0 6.1 5.6 Net profit?
+79.4% +246.3%
144 41.5 80.1 PAT margin %
+665 bps +999 bps
20.2% 10.2% 13.5% EPS (₹)
+79.3% +245.9%
22.14 6.40 12.35
Quality of profit
Pre-tax profit ₹188 Cr: core business ₹177 Cr, other income ₹6.0 Cr, exceptional & other items ₹4.2 Cr.
Core profit YoY: +73.3%
· reported profit +79.4%
Cash & debt
FY26 cash from operations ₹233 Cr:
92% of FY26 net profit of ₹254 Cr.
Borrowings ₹3.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹654 ₹712
+8.8% above Net profit ₹82.7 ₹144
+73.8% above
M Cap ₹8,443 Cr
P/E 17.1
PEG 0.68
Profit -50% below its own trend Operating margin contracted 398 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+25.6% +39.2%
1,099 789 875 Operating profit
+5.1% +80.2%
225 125 214 OPM %
-398 bps +465 bps
20.5% 15.8% 24.5% Other income
+5.3% +115.5%
20.0 9.3 19.0 Net profit?
-4.5% +71.3%
147 85.8 154 PAT margin %
-422 bps +250 bps
13.4% 10.9% 17.6% EPS (₹)
-3.9% +71.8%
10.31 6.00 10.73
Quality of profit
Pre-tax profit ₹186 Cr: core business ₹165 Cr, other income ₹20.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: -2.9%
· reported profit -4.5%
Cash & debt
FY26 cash from operations ₹380 Cr:
79% of FY26 net profit of ₹481 Cr.
Borrowings ₹614 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,057 ₹1,099
+4.0% in line Net profit ₹297 ₹147
-50.5% below
M Cap ₹8,436 Cr
P/E 16.5
PEG —
Profit -17% below its own trend Operating margin contracted 772 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+131.2% +29.5%
1,102 851 477 Operating profit
+63.9% +30.2%
207 159 126 OPM %
-772 bps +10 bps
18.8% 18.7% 26.5% Other income
+23.6% +20.0%
6.0 5.0 4.9 Net profit?
+66.4% +30.0%
156 120 93.8 PAT margin %
-552 bps +6 bps
14.2% 14.1% 19.7% EPS (₹)
+65.9% +29.6%
14.93 11.52 9.00
Quality of profit
Pre-tax profit ₹208 Cr: core business ₹202 Cr, other income ₹6.0 Cr.
Core profit YoY: +67.9%
· reported profit +66.4%
Against its own trend ?
Trend Actual Gap
Sales ₹953 ₹1,102
+15.6% above Net profit ₹188 ₹156
-16.8% below
M Cap ₹8,418 Cr
P/E 32.8
PEG 1.26
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+3.7% -9.2%
500 551 482 Operating profit
+1.2% -10.3%
84.0 93.6 83.0 OPM %
-41 bps -19 bps
16.8% 17.0% 17.2% Other income
-7.8% -73.1%
9.0 33.5 9.8 Net profit
-5.6% -30.2%
56.0 80.2 59.3 PAT margin %
-110 bps -337 bps
11.2% 14.6% 12.3% EPS (₹)
-5.9% -30.4%
2.75 3.95 adj. 2.92
EPS restated for the ₹10 to ₹1 split of Jun 2025: Mar 2025 ₹29.22 to ₹2.92.
Quality of profit
Pre-tax profit ₹75.0 Cr: core business ₹67.0 Cr, other income ₹9.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: -4.2%
· reported profit -5.6%
Cash & debt
Borrowings ₹14.0 Cr at Dec 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹534 ₹500
-6.4% below Net profit ₹56.1 ₹56.0
-0.3% in line
Turnaround: profit against a loss a year ago Operating margin contracted 3164 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
+1.6% -24.3%
870 1,150 856 Operating profit
to loss to loss -261 21.7 14.0 OPM %
-3164 bps -3189 bps
-30.0% 1.9% 1.6% Other income
— —
639 0.3 24.0 Net profit?
from loss —
251 — -22.0 PAT margin %
+3142 bps —
28.9% — -2.6% EPS (₹)
from loss —
8.57 — -0.57
Quality of profit
Pre-tax profit ₹327 Cr: core business −₹313 Cr, other income ₹639 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: loss widened
Against its own trend ?
Trend Actual Gap
Sales ₹717 ₹870
+21.4% above
M Cap ₹8,321 Cr
P/E 31.3
PEG —
Operating margin expanded 187 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+32.4% -8.8%
229 251 173 Operating profit
+39.1% -1.1%
89.0 90.0 64.0 OPM %
+187 bps +301 bps
38.9% 35.9% 37.0% Other income
+20.0% +20.0%
6.0 5.0 5.0 Net profit
+36.0% +3.0%
68.0 66.0 50.0 PAT margin %
+79 bps +340 bps
29.7% 26.3% 28.9% EPS (₹)
+35.6% +2.0%
29.44 28.87 21.71
Quality of profit
Pre-tax profit ₹91.0 Cr: core business ₹86.0 Cr, other income ₹6.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +38.7%
· reported profit +36.0%
M Cap ₹8,301 Cr
P/E 14.9
PEG 1.06
Operating margin expanded 805 bps YoY Core business grew faster than reported profit (core profit +51%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+25.8% +8.5%
317 292 252 Operating profit
+42.0% +39.0%
223 160 157 OPM %
+805 bps +1545 bps
70.3% 54.9% 62.3% Other income
-100.0% -100.0%
0.0 23.0 23.0 Net profit?
+26.8% +31.6%
142 108 112 PAT margin %
+35 bps +787 bps
44.8% 36.9% 44.4% EPS (₹)
+26.7% +31.8%
2.94 2.23 2.32
Quality of profit
Pre-tax profit ₹192 Cr: core business ₹192 Cr, other income ₹0.0 Cr.
Core profit YoY: +51.2%
· reported profit +26.8%
Cash & debt
FY26 cash from operations ₹510 Cr:
99% of FY26 net profit of ₹515 Cr.
Borrowings ₹37.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹268 ₹317
+18.1% above Net profit ₹156 ₹142
-8.9% in line
M Cap ₹8,299 Cr
P/E 14.5
PEG 0.76
Profit +79% above its own trend Operating margin expanded 525 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+2.4% +0.1%
1,349 1,348 1,317 Operating profit
+43.1% +1.6%
249 245 174 OPM %
+525 bps +28 bps
18.5% 18.2% 13.2% Other income
to loss loss narrowed -4.0 -27.0 20.0 Net profit?
+44.3% +46.7%
176 120 122 PAT margin %
+378 bps +414 bps
13.0% 8.9% 9.3% EPS (₹)
+43.3% +46.3%
6.29 4.30 4.39
Quality of profit
Pre-tax profit ₹222 Cr: core business ₹226 Cr, other income −₹4.0 Cr.
Core profit YoY: +54.3%
· reported profit +44.3%
Cash & debt
FY26 cash from operations ₹481 Cr:
93% of FY26 net profit of ₹518 Cr.
Borrowings ₹141 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,277 ₹1,349
+5.6% above Net profit ₹98.4 ₹176
+78.9% above
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-4.6% +0.7%
1,887 1,873 1,978 Operating profit
-2.4% -4.6%
576 604 590 OPM %
+70 bps -172 bps
30.5% 32.2% 29.8% Other income
to loss to loss -323 77.0 88.0 Net profit?
loss widened to loss -494 25.0 -101 PAT margin %
-2106 bps -2751 bps
-26.2% 1.3% -5.1% EPS (₹)
to loss to loss -1.19 0.06 0.31
Quality of profit
Pre-tax profit −₹426 Cr: core business −₹103 Cr, other income −₹323 Cr.
Core profit YoY: loss widened
Cash & debt
FY26 cash from operations ₹2,824 Cr.
Borrowings ₹14,812 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,979 ₹1,887
-4.7% in line
Operating margin contracted 4183 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-82.5% +8.9%
333 306 1,907 Operating profit
to loss loss narrowed -118 -134 122 OPM %
-4183 bps +840 bps
-35.4% -43.8% 6.4% Other income
+25.0% +25.0%
10.0 8.0 8.0 Net profit?
loss widened loss widened -211 -197 -72.0 PAT margin %
-5959 bps +104 bps
-63.4% -64.4% -3.8% EPS (₹)
loss widened loss widened -11.89 -11.07 -4.07
Quality of profit
Pre-tax profit −₹281 Cr: core business −₹291 Cr, other income ₹10.0 Cr.
Core profit YoY: loss widened
Cash & debt
FY26 cash from operations ₹135 Cr.
Borrowings ₹4,177 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹954 ₹333
-65.1% below
M Cap ₹8,224 Cr
P/E 62.5
PEG 3.47
Profit +66% above its own trend Operating margin contracted 814 bps YoY 59% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -36%) Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+43.2% -24.5%
68.0 90.0 47.5 Operating profit
+10.9% -50.7%
19.0 38.5 17.1 OPM %
-814 bps -1488 bps
27.9% 42.8% 36.1% Other income
+310.3% +241.1%
11.0 3.2 2.7 Net profit?
+120.3% -27.0%
24.0 32.9 10.9 PAT margin %
+1234 bps -125 bps
35.3% 36.5% 23.0% EPS (₹)
+112.7% -19.7%
10.72 13.35 5.04
Quality of profit
Pre-tax profit ₹17.0 Cr: core business ₹7.0 Cr, other income ₹11.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: -36.3%
· reported profit +120.3%
Cash & debt
FY26 cash from operations −₹200 Cr:
-250% of FY26 net profit of ₹79.9 Cr.
Borrowings ₹222 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹54.0 ₹68.0
+26.0% above Net profit ₹14.5 ₹24.0
+65.8% above
M Cap ₹8,198 Cr
P/E 16.8
PEG —
₹ Cr QoQ
Mar 2026 Dec 2025
Sales
+321.6%
409 97.0 Operating profit
from loss 170 -14.0 OPM %
+5600 bps
41.6% -14.4% Other income
to loss -55.0 6.0 Net profit?
+148.7%
194 78.0 PAT margin %
-3298 bps
47.4% 80.4% EPS (₹)
+147.1%
0.84 0.34
Quality of profit
Pre-tax profit ₹96.0 Cr: core business ₹151 Cr, other income −₹55.0 Cr.
M Cap ₹8,190 Cr
P/E 60.6
PEG —
Profit +21% above its own trend Operating margin contracted 176 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+34.7% +100.6%
553 276 411 Operating profit
+24.3% +112.3%
116 54.6 93.3 OPM %
-176 bps +115 bps
21.0% 19.8% 22.7% Other income
+84.2% +85.2%
14.0 7.6 7.6 Net profit
+38.9% +184.0%
78.0 27.5 56.1 PAT margin %
+43 bps +414 bps
14.1% 10.0% 13.7% EPS (₹)
+38.3% +182.3%
4.15 1.47 3.00
Quality of profit
Pre-tax profit ₹107 Cr: core business ₹92.0 Cr, other income ₹14.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +32.3%
· reported profit +38.9%
Cash & debt
FY26 cash from operations ₹155 Cr:
118% of FY26 net profit of ₹131 Cr.
Borrowings ₹407 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹422 ₹553
+31.0% above Net profit ₹64.5 ₹78.0
+20.9% above
M Cap ₹8,157 Cr
P/E 30.4
PEG 1.05
Profit +67% above its own trend Operating margin expanded 151 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+42.9% +5.8%
1,099 1,039 769 Operating profit
+63.6% +7.9%
131 121 80.1 OPM %
+151 bps +24 bps
11.9% 11.7% 10.4% Other income
-6.6% +113.2%
4.0 1.9 4.3 Net profit?
+109.5% +15.0%
73.2 63.7 34.9 PAT margin %
+212 bps +53 bps
6.7% 6.1% 4.5% EPS (₹)
+109.1% +14.9%
6.00 5.22 2.87
Quality of profit
Pre-tax profit ₹95.7 Cr: core business ₹91.7 Cr, other income ₹4.0 Cr.
Core profit YoY: +89.0%
· reported profit +109.5%
Cash & debt
FY26 cash from operations ₹281 Cr:
112% of FY26 net profit of ₹251 Cr.
Borrowings ₹379 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,135 ₹1,099
-3.1% in line Net profit ₹43.9 ₹73.2
+66.6% above
M Cap ₹8,157 Cr
P/E 12.5
PEG 0.07
Profit -30% below its own trend Operating margin contracted 355 bps YoY Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+64.0% +36.9%
1,537 1,122 937 Operating profit
+36.2% +25.7%
267 212 196 OPM %
-355 bps -155 bps
17.4% 18.9% 20.9% Other income
+9.1% +71.3%
24.0 14.0 22.0 Net profit?
+39.8% +22.6%
172 140 123 PAT margin %
-194 bps -130 bps
11.2% 12.5% 13.1% EPS (₹)
+39.2% +11.4%
5.65 5.07 4.06
Quality of profit
Pre-tax profit ₹231 Cr: core business ₹206 Cr, other income ₹24.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +47.1%
· reported profit +39.8%
Cash & debt
FY26 cash from operations −₹203 Cr:
-34% of FY26 net profit of ₹593 Cr.
Borrowings ₹2,302 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,874 ₹1,537
-18.0% below Net profit ₹246 ₹172
-30.1% below
M Cap ₹8,151 Cr
P/E 24.0
PEG —
Profit +56% above its own trend Operating margin contracted 878 bps YoY 33% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -31%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+87.2% +17.3%
528 450 282 Operating profit
+67.2% +4.3%
388 372 232 OPM %
-878 bps -918 bps
73.5% 82.7% 82.3% Other income
— from loss 32.0 -2.0 1.0 Net profit?
+3.2% +61.7%
97.0 60.0 94.0 PAT margin %
-1496 bps +504 bps
18.4% 13.3% 33.3% EPS (₹)
-53.4% +59.6%
0.75 0.47 1.61
Quality of profit
Pre-tax profit ₹99.0 Cr: core business ₹66.0 Cr, other income ₹32.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: -30.5%
· reported profit +3.2%
Cash & debt
FY26 cash from operations ₹1,275 Cr:
375% of FY26 net profit of ₹340 Cr.
Borrowings ₹9,361 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹299 ₹528
+76.3% above Net profit ₹62.0 ₹97.0
+56.4% above
M Cap ₹8,121 Cr
P/E 25.1
PEG 3.13
Operating margin contracted 324 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+11.1% +18.1%
654 554 589 Operating profit
-4.6% +22.1%
129 106 135 OPM %
-324 bps +64 bps
19.7% 19.1% 23.0% Other income
-38.4% -51.8%
8.0 16.6 13.0 Net profit?
-6.4% +29.7%
90.0 69.4 96.2 PAT margin %
-257 bps +123 bps
13.8% 12.5% 16.3% EPS (₹)
+1.2% +41.7%
4.08 2.88 4.03
Quality of profit
Pre-tax profit ₹116 Cr: core business ₹109 Cr, other income ₹8.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: -6.8%
· reported profit -6.4%
Cash & debt
FY26 cash from operations ₹255 Cr:
77% of FY26 net profit of ₹331 Cr.
Borrowings ₹38.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹649 ₹654
+0.7% in line Net profit ₹91.6 ₹90.0
-1.7% in line
M Cap ₹8,075 Cr
P/E 23.3
PEG 0.97
Operating margin expanded 396 bps YoY Core business grew faster than reported profit (core profit +161%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+27.6% +82.8%
1,669 913 1,308 Operating profit
+78.1% +75.2%
233 133 131 OPM %
+396 bps -61 bps
14.0% 14.6% 10.0% Other income
-62.6% +700.0%
8.0 1.0 21.4 Net profit
+25.2% +129.0%
142 62.0 113 PAT margin %
-16 bps +172 bps
8.5% 6.8% 8.7% EPS (₹)
+25.2% +127.8%
4.42 1.94 3.53
Quality of profit
Pre-tax profit ₹190 Cr: core business ₹182 Cr, other income ₹8.0 Cr.
Core profit YoY: +160.7%
· reported profit +25.2%
Cash & debt
FY26 cash from operations ₹316 Cr:
91% of FY26 net profit of ₹346 Cr.
Borrowings ₹64.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,650 ₹1,669
+1.2% in line Net profit ₹136 ₹142
+4.8% in line
M Cap ₹8,026 Cr
P/E 97.8
PEG 3.05
Profit -39% below its own trend Operating margin contracted 174 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-13.8% +21.7%
369 303 428 Operating profit
-25.0% +56.7%
43.1 27.5 57.4 OPM %
-174 bps +261 bps
11.7% 9.1% 13.4% Other income
+54.8% +19.6%
5.1 4.3 3.3 Net profit?
-27.7% +99.8%
22.4 11.2 31.0 PAT margin %
-117 bps +238 bps
6.1% 3.7% 7.3% EPS (₹)
-27.6% +99.3%
2.83 1.42 3.91
Quality of profit
Pre-tax profit ₹31.7 Cr: core business ₹26.5 Cr, other income ₹5.1 Cr.
Core profit YoY: -30.8%
· reported profit -27.7%
Cash & debt
FY26 cash from operations ₹54.0 Cr:
74% of FY26 net profit of ₹73.3 Cr.
Borrowings ₹172 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹402 ₹369
-8.2% below Net profit ₹37.0 ₹22.4
-39.4% 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, 21:52 IST
