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: 45 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 24 of 171
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M Cap ₹8,021 Cr
P/E 37.6
PEG —
Profit -10% below its own trend Operating margin contracted 645 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+3.4% +35.0%
583 432 564 Operating profit
-22.4% +10.8%
113 102 146 OPM %
-645 bps -423 bps
19.4% 23.6% 25.8% Other income
from loss +600.0%
14.0 2.0 -1.6 Net profit?
-30.9% +27.1%
61.0 48.0 88.3 PAT margin %
-521 bps -65 bps
10.5% 11.1% 15.7% EPS (₹)
-30.9% +27.4%
6.74 5.29 9.75
Quality of profit
Pre-tax profit ₹82.0 Cr: core business ₹68.0 Cr, other income ₹14.0 Cr.
Core profit YoY: -41.5%
· reported profit -30.9%
Cash & debt
FY26 cash from operations ₹262 Cr:
141% of FY26 net profit of ₹186 Cr.
Borrowings ₹754 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹484 ₹583
+20.5% above Net profit ₹68.1 ₹61.0
-10.4% below
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+3.6% -45.9%
1.5 2.8 1.5 Operating profit
loss widened loss narrowed -50.6 -103 -43.8 Other income
+454.4% +144.3%
6.8 2.8 1.2 Net profit?
loss widened loss narrowed -45.6 -102 -43.9 EPS (₹)
— loss narrowed -2.02 -4.55 -2.02
Quality of profit
Pre-tax profit −₹45.6 Cr: core business −₹52.4 Cr, other income ₹6.8 Cr.
Core profit YoY: loss widened
Cash & debt
FY26 cash from operations −₹302 Cr.
Borrowings ₹17.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1.7 ₹1.5
-12.2% below
M Cap ₹8,002 Cr
P/E 13.7
PEG —
Into loss: a profit a year ago Profit -220% below its own trend Operating margin expanded 104 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
+15.3% +7.2%
2,004 1,869 1,737 Operating profit
+20.8% +24.5%
459 369 380 OPM %
+104 bps +317 bps
22.9% 19.7% 21.9% Other income
-10.8% -51.1%
112 229 126 Net profit?
to loss loss narrowed -114 -160 49.0 PAT margin %
-851 bps +289 bps
-5.7% -8.6% 2.8% EPS (₹)
to loss loss narrowed -1.43 -2.36 0.61
Quality of profit
Pre-tax profit ₹2.0 Cr: core business −₹109 Cr, other income ₹112 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY26 cash from operations ₹1,260 Cr:
205% of FY26 net profit of ₹613 Cr.
Borrowings ₹11,594 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,931 ₹2,004
+3.8% in line Net profit ₹95.0 −₹114
-220.0% below
M Cap ₹7,975 Cr
P/E 38.8
PEG —
Profit -31% below its own trend Operating margin expanded 106 bps YoY Core business grew faster than reported profit (core profit +50%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+13.4% +6.2%
1,001 942 883 Operating profit
+24.0% -6.1%
124 132 100 OPM %
+106 bps -162 bps
12.4% 14.0% 11.3% Other income
+0.0% +40.8%
3.0 2.1 3.0 Net profit
-20.9% -42.5%
34.0 59.1 43.0 PAT margin %
-147 bps -287 bps
3.4% 6.3% 4.9% EPS (₹)
-20.7% -42.7%
1.88 3.28 2.37
Quality of profit
Pre-tax profit ₹81.0 Cr: core business ₹78.0 Cr, other income ₹3.0 Cr.
Core profit YoY: +50.0%
· reported profit -20.9%
Against its own trend ?
Trend Actual Gap
Sales ₹963 ₹1,001
+4.0% in line Net profit ₹49.1 ₹34.0
-30.7% below
M Cap ₹7,960 Cr
P/E 55.8
PEG —
Operating margin expanded 352 bps YoY Core business grew faster than reported profit (core profit +207%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+43.0% +33.8%
652 487 456 Operating profit
+125.0% +16.7%
63.0 54.0 28.0 OPM %
+352 bps -141 bps
9.7% 11.1% 6.1% Other income
-66.7% +63.7%
1.0 0.6 3.0 Net profit?
+180.0% +8.6%
42.0 38.7 15.0 PAT margin %
+315 bps -150 bps
6.4% 7.9% 3.3% EPS (₹)
+143.4% +10.8%
3.70 3.34 1.52
Quality of profit
Pre-tax profit ₹46.0 Cr: core business ₹46.0 Cr, other income ₹1.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +206.7%
· reported profit +180.0%
M Cap ₹7,949 Cr
P/E 45.2
PEG 1.26
Profit +44% above its own trend Operating margin expanded 305 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+19.8% +14.5%
224 196 187 Operating profit
+31.7% +29.8%
75.1 57.8 57.0 OPM %
+305 bps +395 bps
33.5% 29.6% 30.5% Other income
-13.8% -13.5%
4.3 5.0 5.0 Net profit?
+121.4% +73.6%
48.7 28.1 22.0 PAT margin %
+998 bps +740 bps
21.7% 14.3% 11.8% EPS (₹)
+119.9% +64.3%
2.99 1.82 1.36
Quality of profit
Pre-tax profit ₹64.4 Cr: core business ₹59.5 Cr, other income ₹4.3 Cr, exceptional & other items ₹0.6 Cr.
Core profit YoY: +41.8%
· reported profit +121.4%
Cash & debt
FY26 cash from operations ₹213 Cr:
131% of FY26 net profit of ₹163 Cr.
Borrowings ₹51.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹228 ₹224
-1.8% in line Net profit ₹33.9 ₹48.7
+43.8% above
M Cap ₹7,947 Cr
P/E 19.1
PEG —
Profit +507% above its own trend Operating margin expanded 840 bps YoY Core business grew faster than reported profit (core profit +547%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+15.8% -1.2%
1,467 1,484 1,267 Operating profit
+214.5% +96.0%
195 99.5 62.0 OPM %
+840 bps +659 bps
13.3% 6.7% 4.9% Other income
+4.0% -19.7%
26.0 32.4 25.0 Net profit?
+323.3% +105.0%
135 66.1 32.0 PAT margin %
+671 bps +478 bps
9.2% 4.5% 2.5% EPS (₹)
+321.4% +104.9%
2.95 1.44 0.70
Quality of profit
Pre-tax profit ₹180 Cr: core business ₹154 Cr, other income ₹26.0 Cr.
Core profit YoY: +547.3%
· reported profit +323.3%
Cash & debt
FY26 cash from operations ₹228 Cr:
75% of FY26 net profit of ₹305 Cr.
Borrowings ₹441 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,581 ₹1,467
-7.2% below Net profit ₹22.3 ₹135
+506.9% above
₹ Cr
Mar 2026
Sales
347 Operating profit
106 OPM %
30.5% Other income
9.0 Net profit
68.0 PAT margin %
19.6% EPS (₹)
3.07
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 ₹94.0 Cr: core business ₹85.0 Cr, other income ₹9.0 Cr.
M Cap ₹7,935 Cr
P/E 42.4
PEG 1.09
Profit +20% above its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+18.7% +6.3%
388 365 327 Operating profit
+13.9% +7.4%
89.2 83.0 78.3 OPM %
-96 bps +25 bps
23.0% 22.7% 24.0% Other income
+30.2% +205.0%
9.1 3.0 7.0 Net profit?
+12.0% +19.7%
50.3 42.0 44.9 PAT margin %
-77 bps +145 bps
13.0% 11.5% 13.7% EPS (₹)
+12.0% +18.0%
7.66 6.49 6.84
Quality of profit
Pre-tax profit ₹67.6 Cr: core business ₹56.9 Cr, other income ₹9.1 Cr, exceptional & other items ₹1.5 Cr.
Core profit YoY: +3.3%
· reported profit +12.0%
Cash & debt
FY26 cash from operations ₹268 Cr:
138% of FY26 net profit of ₹194 Cr.
Borrowings ₹584 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹384 ₹388
+1.1% in line Net profit ₹41.8 ₹50.3
+20.3% above
M Cap ₹7,912 Cr
P/E 10.7
PEG —
Profit -65% below its own trend Operating margin contracted 127 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-12.2% +17.4%
1,280 1,090 1,458 Operating profit
-17.9% +53.6%
234 152 285 OPM %
-127 bps +431 bps
18.3% 14.0% 19.6% Other income
to loss to loss -51.0 197 40.0 Net profit?
-57.4% -57.6%
103 243 242 PAT margin %
-855 bps -1421 bps
8.0% 22.3% 16.6% EPS (₹)
-57.5% -57.7%
7.67 18.12 18.06
Quality of profit
Pre-tax profit ₹151 Cr: core business ₹202 Cr, other income −₹51.0 Cr.
Core profit YoY: -22.2%
· reported profit -57.4%
Cash & debt
FY26 cash from operations ₹933 Cr:
133% of FY26 net profit of ₹701 Cr.
Borrowings ₹13.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,379 ₹1,280
-7.2% below Net profit ₹292 ₹103
-64.7% below
M Cap ₹7,907 Cr
P/E 54.1
PEG —
Profit -91% below its own trend Operating margin contracted 441 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+5.0% -12.4%
828 945 788 Operating profit
-15.5% -28.9%
151 212 178 OPM %
-441 bps -423 bps
18.2% 22.4% 22.6% Other income
to loss to loss -8.3 21.0 22.3 Net profit?
-95.2% -96.7%
2.2 66.1 45.9 PAT margin %
-556 bps -673 bps
0.3% 7.0% 5.8% EPS (₹)
-95.2% -96.7%
0.17 5.14 3.57
Quality of profit
Pre-tax profit ₹3.8 Cr: core business ₹12.1 Cr, other income −₹8.3 Cr.
Core profit YoY: -69.6%
· reported profit -95.2%
Cash & debt
FY26 cash from operations ₹595 Cr:
443% of FY26 net profit of ₹134 Cr.
Borrowings ₹1,387 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹782 ₹828
+5.8% above Net profit ₹23.4 ₹2.2
-90.6% below
M Cap ₹7,802 Cr
P/E 11.4
PEG 1.91
Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+1.7% +28.0%
6,233 4,868 6,131 Operating profit
-1.1% +26.2%
550 436 556 OPM %
-24 bps -13 bps
8.8% 9.0% 9.1% Other income
-68.8% -43.2%
18.3 32.1 58.5 Net profit?
-18.2% +60.3%
217 135 265 PAT margin %
-85 bps +70 bps
3.5% 2.8% 4.3% EPS (₹)
-18.8% +68.2%
3.28 1.95 4.04
Quality of profit
Pre-tax profit ₹294 Cr: core business ₹272 Cr, other income ₹18.3 Cr, exceptional & other items ₹3.0 Cr.
Core profit YoY: -12.1%
· reported profit -18.2%
Cash & debt
FY26 cash from operations −₹459 Cr:
-70% of FY26 net profit of ₹658 Cr.
Borrowings ₹3,457 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹5,664 ₹6,233
+10.0% above Net profit ₹209 ₹217
+3.8% in line
M Cap ₹7,757 Cr
P/E 7.6
PEG —
Profit -59% below its own trend Operating margin contracted 923 bps YoY 35% of pre-tax profit came from other income and one-off items Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+9.8% +8.3%
2,500 2,308 2,276 Operating profit
-32.5% -21.4%
368 468 545 OPM %
-923 bps -556 bps
14.7% 20.3% 23.9% Other income
-19.1% +20.9%
110 91.0 136 Net profit?
-47.9% -18.9%
210 259 403 PAT margin %
-931 bps -282 bps
8.4% 11.2% 17.7% EPS (₹)
-48.8% -20.2%
21.39 26.79 41.75
Quality of profit
Pre-tax profit ₹320 Cr: core business ₹209 Cr, other income ₹110 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: -43.1%
· reported profit -47.9%
Cash & debt
FY26 cash from operations −₹2,811 Cr:
-311% of FY26 net profit of ₹903 Cr.
Borrowings ₹4,872 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹2,500 ₹2,500
-0.0% in line Net profit ₹507 ₹210
-58.6% below
M Cap ₹7,742 Cr
P/E 15.2
PEG —
Profit +272% above its own trend Gross NPA down 29 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Total income
+12.3% +6.0%
2,099 1,981 1,869 Net interest income
+18.2% +15.0%
980 852 829 Other income
+16.9% -9.0%
263 289 225 Net profit
+407.1% +136.7%
213 90.0 42.0 EPS (₹)
+402.7% +135.4%
1.86 0.79 0.37 Gross NPA %
-29 bps -15 bps
2.6% 2.8% 2.9% Net NPA %
-26 bps -20 bps
0.7% 0.9% 1.0%
Against its own trend ?
Trend Actual Gap
NII ₹838 ₹980
+17.0% above Net profit ₹57.3 ₹213
+271.9% above
M Cap ₹7,739 Cr
P/E 429.5
PEG 6.05
Operating margin contracted 581 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+20.8% +20.0%
2,467 2,056 2,042 Operating profit
-39.7% from loss 143 -95.0 237 OPM %
-581 bps +1042 bps
5.8% -4.6% 11.6% Other income
-25.0% -50.0%
6.0 12.0 8.0 Net profit?
-36.4% from loss 96.0 -77.0 151 PAT margin %
-350 bps +764 bps
3.9% -3.7% 7.4% EPS (₹)
-17.1% from loss 2.47 -1.36 2.98
Quality of profit
Pre-tax profit ₹127 Cr: core business ₹121 Cr, other income ₹6.0 Cr.
Core profit YoY: -43.5%
· reported profit -36.4%
Cash & debt
FY26 cash from operations ₹1,820 Cr:
2493% of FY26 net profit of ₹73.0 Cr.
Borrowings ₹493 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹2,234 ₹2,467
+10.4% above Net profit ₹101 ₹96.0
-4.6% in line
M Cap ₹7,724 Cr
P/E 18.4
PEG 0.92
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+13.9% +48.7%
2,111 1,420 1,853 Operating profit
+5.6% +41.2%
226 160 214 OPM %
-84 bps -56 bps
10.7% 11.3% 11.5% Other income
-41.2% -23.1%
10.0 13.0 17.0 Net profit?
+17.7% +53.0%
153 100 130 PAT margin %
+23 bps +21 bps
7.2% 7.0% 7.0% EPS (₹)
+21.6% +51.7%
45.09 29.73 37.08
Quality of profit
Pre-tax profit ₹187 Cr: core business ₹177 Cr, other income ₹10.0 Cr.
Core profit YoY: +7.9%
· reported profit +17.7%
Cash & debt
FY26 cash from operations ₹430 Cr:
104% of FY26 net profit of ₹412 Cr.
Borrowings ₹664 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹2,297 ₹2,111
-8.1% below Net profit ₹160 ₹153
-4.4% in line
M Cap ₹7,720 Cr
P/E 217.1
PEG —
Profit +845% above its own trend Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+21.6% +12.1%
247 220 203 Operating profit
+20.7% +37.6%
43.9 31.9 36.4 OPM %
-13 bps +331 bps
17.8% 14.5% 17.9% Other income
+53.1% -55.5%
1.0 2.2 0.6 Net profit?
+372.6% +208.7%
11.4 3.7 2.4 PAT margin %
+343 bps +294 bps
4.6% 1.7% 1.2% EPS (₹)
+374.7% +208.6%
4.32 1.40 0.91
Quality of profit
Pre-tax profit ₹15.8 Cr: core business ₹14.8 Cr, other income ₹1.0 Cr.
Core profit YoY: -13.3%
· reported profit +372.6%
Cash & debt
FY26 cash from operations −₹231 Cr:
-805% of FY26 net profit of ₹28.7 Cr.
Borrowings ₹1,395 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹215 ₹247
+14.9% above Net profit ₹1.2 ₹11.4
+845.2% above
M Cap ₹7,719 Cr
P/E 121.1
PEG —
Profit -78% below its own trend Operating margin contracted 1070 bps YoY FY26 operating cash flow was only 1% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-8.9% +8.3%
603 557 662 Operating profit
-51.3% +23.3%
74.0 60.0 152 OPM %
-1070 bps +150 bps
12.3% 10.8% 23.0% Other income
to loss to loss -10.0 9.0 156 Net profit?
-89.0% +71.4%
12.0 7.0 109 PAT margin %
-1451 bps +73 bps
2.0% 1.3% 16.5% EPS (₹)
-99.1% -68.5%
0.17 0.54 19.93
Quality of profit
Pre-tax profit ₹4.0 Cr: core business ₹14.0 Cr, other income −₹10.0 Cr.
Core profit YoY: -85.7%
· reported profit -89.0%
Cash & debt
FY26 cash from operations ₹42.0 Cr:
1% of FY26 net profit of ₹5,310 Cr.
Borrowings ₹1,055 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹360 ₹603
+67.3% above Net profit ₹54.6 ₹12.0
-78.0% below
Into loss: a profit a year ago Profit -999% below its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+1.5% -14.7%
932 1,092 918 Operating profit
-6.5% -39.2%
87.0 143 93.0 OPM %
-80 bps -376 bps
9.3% 13.1% 10.1% Other income
to loss to loss -531 2.0 1.0 Net profit?
to loss to loss -518 61.6 36.2 PAT margin %
-5952 bps -6122 bps
-55.6% 5.6% 3.9% EPS (₹)
to loss to loss -25.09 2.99 1.75
Quality of profit
Pre-tax profit −₹503 Cr: core business ₹28.0 Cr, other income −₹531 Cr.
Core profit YoY: -24.3%
Cash & debt
FY26 cash from operations ₹409 Cr.
Borrowings ₹448 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹997 ₹932
-6.6% below Net profit ₹30.2 −₹518
-999.0% below
Into loss: a profit a year ago Operating margin contracted 7724 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-61.5% +61.0%
342 212 889 Operating profit
to loss loss widened -261 -152 8.2 OPM %
-7724 bps -457 bps
-76.3% -71.7% 0.9% Other income
-76.5% +33.7%
69.0 51.6 293 Net profit?
to loss loss widened -323 -234 123 PAT margin %
-10827 bps —
-94.4% — 13.8% EPS (₹)
to loss loss widened -2.33 -1.68 1.06
Quality of profit
Pre-tax profit −₹345 Cr: core business −₹414 Cr, other income ₹69.0 Cr.
Core profit YoY: loss widened
Cash & debt
FY26 cash from operations ₹44.0 Cr.
Borrowings ₹5,322 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,243 ₹342
-72.5% below
M Cap ₹7,513 Cr
P/E 3.5
PEG —
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
— —
22,668 192 166 Operating profit
— —
3,153 29.2 23.6 OPM %
-30 bps -136 bps
13.9% 15.3% 14.2% Other income
— —
419 4.3 4.7 Net profit?
— —
2,107 20.4 16.5 PAT margin %
-62 bps -135 bps
9.3% 10.6% 9.9% EPS (₹)
+30.3% +3.1%
0.99 0.96 0.76
Quality of profit
Pre-tax profit ₹2,854 Cr: core business ₹2,435 Cr, other income ₹419 Cr.
M Cap ₹7,498 Cr
P/E 53.8
PEG 2.34
Profit +26% above 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
+28.3% -3.7%
625 649 487 Operating profit
+21.4% -3.7%
51.0 53.0 42.0 OPM %
-46 bps -0 bps
8.2% 8.2% 8.6% Other income
+393.5% +157.7%
9.9 3.8 2.0 Net profit
+37.5% -19.4%
22.0 27.3 16.0 PAT margin %
+23 bps -69 bps
3.5% 4.2% 3.3% EPS (₹)
+35.5% -20.8%
1.68 2.12 1.24
Quality of profit
Pre-tax profit ₹157 Cr: core business −₹28.4 Cr, other income ₹9.9 Cr, exceptional & other items ₹175 Cr.
Core profit YoY: loss widened
· reported profit +37.5%
Cash & debt
FY26 cash from operations ₹75.0 Cr:
64% of FY26 net profit of ₹117 Cr.
Borrowings ₹573 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹607 ₹625
+2.9% in line Net profit ₹17.4 ₹22.0
+26.2% above
M Cap ₹7,494 Cr
P/E 25.8
PEG 0.72
Operating margin expanded 107 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+10.9% +5.0%
801 763 722 Operating profit
+23.5% +7.7%
84.0 78.0 68.0 OPM %
+107 bps +26 bps
10.5% 10.2% 9.4% Other income
-72.7% -53.8%
6.0 13.0 22.0 Net profit?
+21.6% -54.1%
45.0 98.0 37.0 PAT margin %
+49 bps -723 bps
5.6% 12.8% 5.1% EPS (₹)
-75.1% -61.9%
3.36 8.81 13.48
Quality of profit
Pre-tax profit ₹48.0 Cr: core business ₹42.0 Cr, other income ₹6.0 Cr.
Core profit YoY: +35.5%
· reported profit +21.6%
Cash & debt
FY26 cash from operations ₹453 Cr:
163% of FY26 net profit of ₹278 Cr.
Borrowings ₹572 Cr at Mar 2026.
M Cap ₹7,494 Cr
P/E 20.4
PEG 0.93
Profit -30% below its own trend Exceptional items of ₹-16.2 Cr in the quarter Core business grew faster than reported profit (core profit +10%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+17.6% +13.2%
1,300 1,149 1,105 Operating profit
+12.5% +11.5%
256 230 228 OPM %
-91 bps -30 bps
19.7% 20.0% 20.6% Other income
-13.5% +350.0%
9.0 2.0 10.4 Net profit?
-10.7% -18.3%
103 126 116 PAT margin %
-252 bps -306 bps
7.9% 11.0% 10.5% EPS (₹)
-10.1% -18.5%
3.22 3.95 3.58
Quality of profit
Pre-tax profit ₹116 Cr: core business ₹123 Cr, other income ₹9.0 Cr, exceptional & other items −₹16.3 Cr.
Core profit YoY: +9.7%
· reported profit -10.7%
Cash & debt
FY26 cash from operations ₹723 Cr:
197% of FY26 net profit of ₹367 Cr.
Borrowings ₹962 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,207 ₹1,300
+7.7% above Net profit ₹147 ₹103
-29.8% below
M Cap ₹7,493 Cr
P/E 31.6
PEG 0.90
Profit +42% above its own trend Gross NPA down 25 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Total income
+33.8% +9.2%
261 239 195 Net interest income
+60.2% +19.3%
173 145 108 Other income
-100.0% loss narrowed 0.0 -1.0 1.0 Net profit?
+56.5% +9.1%
72.0 66.0 46.0 EPS (₹)
+54.9% +8.2%
0.79 0.73 0.51 Gross NPA %
-25 bps -7 bps
0.7% 0.8% 1.0% Net NPA %
-17 bps -6 bps
0.6% 0.7% 0.8%
Against its own trend ?
Trend Actual Gap
NII ₹126 ₹173
+37.3% above Net profit ₹50.8 ₹72.0
+41.6% above
M Cap ₹7,485 Cr
P/E 93.4
PEG 0.88
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
— +46.0%
670 459 9.0 Operating profit
loss narrowed to loss -44.0 30.0 -55.0 OPM %
— -1310 bps
-6.6% 6.5% — Other income
-8.1% +28.0%
137 107 149 Net profit?
+5.7% -72.9%
29.6 109 28.0 PAT margin %
— -1931 bps
4.4% 23.7% — EPS (₹)
+5.8% -22.3%
4.22 5.43 3.99
Quality of profit
Pre-tax profit ₹31.9 Cr: core business −₹53.0 Cr, other income ₹137 Cr, exceptional & other items −₹52.0 Cr.
Core profit YoY: loss narrowed
· reported profit +5.7%
Cash & debt
FY26 cash from operations −₹545 Cr:
-680% of FY26 net profit of ₹80.1 Cr.
Borrowings ₹662 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹13.0 ₹670
+999.0% above
M Cap ₹7,478 Cr
P/E 37.7
PEG 5.38
Profit -25% below its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-1.6% +10.0%
426 387 433 Operating profit
-2.0% +35.6%
96.0 70.8 98.0 OPM %
-10 bps +425 bps
22.5% 18.3% 22.6% Other income
to loss to loss -6.0 17.7 9.0 Net profit?
-19.7% +1.2%
57.0 56.3 71.0 PAT margin %
-302 bps -117 bps
13.4% 14.5% 16.4% EPS (₹)
-19.4% +1.9%
5.77 5.66 7.16
Quality of profit
Pre-tax profit ₹78.0 Cr: core business ₹84.0 Cr, other income −₹6.0 Cr.
Core profit YoY: -4.5%
· reported profit -19.7%
Cash & debt
FY26 cash from operations ₹162 Cr:
82% of FY26 net profit of ₹198 Cr.
Borrowings ₹43.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹475 ₹426
-10.4% below Net profit ₹76.3 ₹57.0
-25.3% below
M Cap ₹7,458 Cr
P/E 25.6
PEG —
Profit grew faster than the core business (core profit +5%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+5.0% +0.3%
626 624 596 Operating profit
+2.1% —
97.0 — 95.0 OPM %
-44 bps —
15.5% — 15.9% Other income
from loss —
14.0 — -20.0 Net profit?
+108.6% +32.3%
73.0 55.2 35.0 PAT margin %
+579 bps +282 bps
11.7% 8.8% 5.9% EPS (₹)
-79.2% —
5.36 — 25.72
Quality of profit
Pre-tax profit ₹98.0 Cr: core business ₹83.0 Cr, other income ₹14.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +5.1%
· reported profit +108.6%
M Cap ₹7,453 Cr
P/E 20.8
PEG —
26% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+4.6% +12.3%
1,817 1,618 1,737 Operating profit
+11.7% +20.8%
225 186 201 OPM %
+79 bps +87 bps
12.4% 11.5% 11.6% Other income
+84.8% +766.2%
44.4 5.1 24.0 Net profit?
+33.8% +130.9%
123 53.3 92.0 PAT margin %
+148 bps +348 bps
6.8% 3.3% 5.3% EPS (₹)
+33.2% +131.3%
7.47 3.23 5.61
Quality of profit
Pre-tax profit ₹170 Cr: core business ₹125 Cr, other income ₹44.4 Cr.
Core profit YoY: from loss
· reported profit +33.8%
Cash & debt
FY26 cash from operations ₹942 Cr:
263% of FY26 net profit of ₹358 Cr.
Borrowings ₹1,036 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,864 ₹1,817
-2.5% in line Net profit ₹114 ₹123
+8.3% in line
₹ Cr
Mar 2026
Sales
245 Operating profit
62.0 OPM %
25.3% Other income
0.0 Net profit?
28.0 PAT margin %
11.4% EPS (₹)
4.39
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 ₹35.0 Cr: core business ₹35.0 Cr, other income ₹0.0 Cr.
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
