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
Q2 FY27 Q1 FY27 Q4 FY26 Q3 FY26 Q2 FY26
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 26 of 171
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M Cap ₹6,697 Cr
P/E 47.4
PEG 1.97
Profit -10% below its own trend Operating margin contracted 412 bps YoY 39% of pre-tax profit came from other income and one-off items FY26 operating cash flow was only 34% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+4.1% +0.2%
485 484 466 Operating profit
-43.2% -47.8%
24.0 46.0 42.2 OPM %
-412 bps -456 bps
4.9% 9.5% 9.1% Other income
+73.5% +100.0%
8.0 4.0 4.6 Net profit?
-21.2% -42.9%
16.0 28.0 20.3 PAT margin %
-106 bps -249 bps
3.3% 5.8% 4.4% EPS (₹)
-17.1% -42.0%
0.29 0.50 0.35
Quality of profit
Pre-tax profit ₹23.0 Cr: core business ₹14.0 Cr, other income ₹8.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: -33.7%
· reported profit -21.2%
Cash & debt
FY26 cash from operations ₹33.0 Cr:
34% of FY26 net profit of ₹96.5 Cr.
Borrowings ₹208 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹468 ₹485
+3.6% in line Net profit ₹17.8 ₹16.0
-10.3% below
M Cap ₹6,694 Cr
P/E 21.3
PEG 0.89
Operating margin expanded 169 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+5.3% +13.2%
453 400 430 Operating profit
+10.9% +43.1%
152 106 137 OPM %
+169 bps +701 bps
33.6% 26.5% 31.9% Other income
to loss to loss -4.0 20.0 14.0 Net profit?
-1.9% +68.7%
106 62.8 108 PAT margin %
-172 bps +771 bps
23.4% 15.7% 25.1% EPS (₹)
-2.4% +67.5%
7.47 4.46 7.65
Quality of profit
Pre-tax profit ₹138 Cr: core business ₹142 Cr, other income −₹4.0 Cr.
Core profit YoY: +11.8%
· reported profit -1.9%
Cash & debt
FY26 cash from operations ₹232 Cr:
77% of FY26 net profit of ₹301 Cr.
Borrowings ₹39.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹465 ₹453
-2.5% in line Net profit ₹112 ₹106
-5.3% in line
₹ Cr
Mar 2026
Sales
511 Operating profit
103 OPM %
20.2% Other income
9.0 Net profit?
71.0 PAT margin %
13.9% EPS (₹)
6.65
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 ₹97.0 Cr: core business ₹87.0 Cr, other income ₹9.0 Cr, exceptional & other items ₹1.0 Cr.
M Cap ₹6,682 Cr
P/E 20.8
PEG 0.87
Profit +136% above its own trend Operating margin expanded 350 bps YoY Core business grew faster than reported profit (core profit +119%) Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+37.1% +40.0%
1,387 991 1,012 Operating profit
+75.0% +61.2%
224 139 128 OPM %
+350 bps +212 bps
16.1% 14.0% 12.6% Other income
-47.8% +9.1%
12.0 11.0 23.0 Net profit?
+79.2% +79.2%
129 72.0 72.0 PAT margin %
+219 bps +204 bps
9.3% 7.3% 7.1% EPS (₹)
+71.1% +71.1%
7.27 4.25 4.25
Quality of profit
Pre-tax profit ₹176 Cr: core business ₹164 Cr, other income ₹12.0 Cr.
Core profit YoY: +118.7%
· reported profit +79.2%
Cash & debt
FY26 cash from operations −₹91.0 Cr:
-30% of FY26 net profit of ₹308 Cr.
Borrowings ₹1,311 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,071 ₹1,387
+29.5% above Net profit ₹54.8 ₹129
+135.6% above
M Cap ₹6,680 Cr
P/E 32.7
PEG 0.76
Profit -51% below its own trend Operating margin expanded 215 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-5.0% +39.3%
1,157 830 1,218 Operating profit
+15.5% +9.7%
140 128 121 OPM %
+215 bps -327 bps
12.1% 15.4% 9.9% Other income
-48.3% -4.1%
8.0 8.3 15.5 Net profit?
-25.2% -7.3%
51.0 55.0 68.2 PAT margin %
-119 bps -222 bps
4.4% 6.6% 5.6% EPS (₹)
-25.9% -11.3%
6.78 7.64 9.15
Quality of profit
Pre-tax profit ₹73.0 Cr: core business ₹65.0 Cr, other income ₹8.0 Cr.
Core profit YoY: -14.2%
· reported profit -25.2%
Cash & debt
FY26 cash from operations ₹515 Cr:
302% of FY26 net profit of ₹171 Cr.
Borrowings ₹628 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,321 ₹1,157
-12.4% below Net profit ₹104 ₹51.0
-51.1% below
Operating margin contracted 328 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+67.8% +4.7%
619 591 369 Operating profit
+51.2% +6.3%
186 175 123 OPM %
-328 bps +44 bps
30.0% 29.6% 33.3% Other income
+50.0% -40.0%
6.0 10.0 4.0 Net profit?
+51.9% +6.5%
82.0 77.0 54.0 PAT margin %
-139 bps +22 bps
13.2% 13.0% 14.6% EPS (₹)
-93.1% -51.4%
6.92 14.25 101.01
Quality of profit
Pre-tax profit ₹110 Cr: core business ₹104 Cr, other income ₹6.0 Cr.
Core profit YoY: +57.6%
· reported profit +51.9%
Cash & debt
FY26 cash from operations −₹461 Cr.
Borrowings ₹1,928 Cr at Mar 2026.
M Cap ₹6,641 Cr
P/E 101.4
PEG 1.95
Profit -11% below its own trend Operating margin expanded 279 bps YoY Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+10.4% +31.9%
277 210 251 Operating profit
+45.5% +60.0%
32.0 20.0 22.0 OPM %
+279 bps +203 bps
11.6% 9.5% 8.8% Other income
-50.0% -50.0%
2.0 4.0 4.0 Net profit?
+35.7% +58.3%
19.0 12.0 14.0 PAT margin %
+128 bps +114 bps
6.9% 5.7% 5.6% EPS (₹)
+36.1% +55.3%
1.32 0.85 0.97
Quality of profit
Pre-tax profit ₹22.0 Cr: core business ₹20.0 Cr, other income ₹2.0 Cr.
Core profit YoY: +33.3%
· reported profit +35.7%
Cash & debt
FY26 cash from operations −₹16.0 Cr:
-27% of FY26 net profit of ₹60.0 Cr.
Borrowings ₹89.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹287 ₹277
-3.6% in line Net profit ₹21.3 ₹19.0
-10.9% below
M Cap ₹6,639 Cr
P/E 29.8
PEG 2.71
Profit +75% above its own trend Operating margin expanded 1062 bps YoY Core business grew faster than reported profit (core profit +147%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+30.7% +6.7%
327 306 250 Operating profit
+139.1% +36.4%
76.5 56.1 32.0 OPM %
+1062 bps +510 bps
23.4% 18.3% 12.8% Other income
-31.6% +16.5%
6.2 5.3 9.0 Net profit?
+105.2% +37.2%
63.6 46.4 31.0 PAT margin %
+707 bps +432 bps
19.5% 15.1% 12.4% EPS (₹)
+110.2% +38.1%
4.75 3.44 2.26
Quality of profit
Pre-tax profit ₹77.7 Cr: core business ₹71.6 Cr, other income ₹6.2 Cr.
Core profit YoY: +146.8%
· reported profit +105.2%
Cash & debt
FY26 cash from operations ₹197 Cr:
104% of FY26 net profit of ₹190 Cr.
Borrowings ₹16.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹277 ₹327
+17.9% above Net profit ₹36.3 ₹63.6
+75.3% above
M Cap ₹6,606 Cr
P/E 36.5
PEG 0.56
Profit -22% below its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+11.7% +6.0%
684 645 613 Operating profit
+9.5% +26.0%
85.0 67.4 77.6 OPM %
-25 bps +198 bps
12.4% 10.4% 12.7% Other income
+16.2% -2.3%
5.0 5.1 4.3 Net profit
+0.5% +466.5%
51.0 9.0 50.8 PAT margin %
-83 bps +606 bps
7.5% 1.4% 8.3% EPS (₹)
+0.8% +473.9%
2.64 0.46 2.62
Quality of profit
Pre-tax profit ₹68.0 Cr: core business ₹63.0 Cr, other income ₹5.0 Cr.
Core profit YoY: +2.3%
· reported profit +0.5%
Cash & debt
FY26 cash from operations ₹242 Cr:
151% of FY26 net profit of ₹160 Cr.
Borrowings ₹29.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹676 ₹684
+1.2% in line Net profit ₹65.0 ₹51.0
-21.5% below
M Cap ₹6,604 Cr
P/E 30.5
PEG —
Profit +999% above its own trend Operating margin expanded 793 bps YoY 36% of pre-tax profit came from other income and one-off items Exceptional items of ₹-15.8 Cr in the quarter
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+23.6% -2.3%
1,050 1,074 850 Operating profit
+331.9% +1.9%
117 114 27.0 OPM %
+793 bps +46 bps
11.1% 10.6% 3.2% Other income
-69.9% +17.1%
18.3 15.7 61.0 Net profit?
+605.9% +74.6%
91.8 52.6 13.0 PAT margin %
+721 bps +385 bps
8.7% 4.9% 1.5% EPS (₹)
+322.2% +75.3%
8.36 4.77 1.98
Quality of profit
Pre-tax profit ₹94.2 Cr: core business ₹60.1 Cr, other income ₹18.3 Cr, exceptional & other items ₹15.8 Cr.
Core profit YoY: from loss
· reported profit +605.9%
Cash & debt
FY26 cash from operations ₹409 Cr:
254% of FY26 net profit of ₹161 Cr.
Borrowings ₹908 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹888 ₹1,050
+18.2% above Net profit ₹6.5 ₹91.8
+999.0% above
M Cap ₹6,600 Cr
P/E 173.7
PEG 24.81
Turnaround: profit against a loss a year ago Operating margin expanded 539 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
-3.9% +0.7%
296 294 308 Operating profit
+6.5% -6.9%
163 175 153 OPM %
+539 bps -446 bps
55.1% 59.5% 49.7% Other income
— from loss 665 -2.0 2.0 Net profit
from loss from loss 581 -150 -306 EPS (₹)
from loss from loss 2.97 -0.77 -1.57
Quality of profit
Pre-tax profit ₹581 Cr: core business −₹84.0 Cr, other income ₹665 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY26 cash from operations ₹668 Cr.
Borrowings ₹20,869 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹271 ₹296
+9.2% above
M Cap ₹6,584 Cr
P/E 44.4
PEG 6.35
Profit +160% above its own trend Operating margin contracted 385 bps YoY Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+161.9% +70.8%
314 184 120 Operating profit
+105.2% +25.4%
43.7 34.8 21.3 OPM %
-385 bps -504 bps
13.9% 19.0% 17.8% Other income
+25.3% +40.1%
9.5 6.7 7.5 Net profit?
+117.5% +45.4%
43.8 30.1 20.1 PAT margin %
-285 bps -243 bps
14.0% 16.4% 16.8% EPS (₹)
+115.9% +46.2%
0.38 0.26 adj. 0.18
EPS restated for the 4:1 bonus of Oct 2025 and the ₹2 to ₹1 split of Oct 2025: Mar 2025 ₹1.76 to ₹0.18.
Quality of profit
Pre-tax profit ₹48.1 Cr: core business ₹38.7 Cr, other income ₹9.5 Cr.
Core profit YoY: +104.9%
· reported profit +117.5%
Cash & debt
FY26 cash from operations −₹24.0 Cr:
-19% of FY26 net profit of ₹125 Cr.
Borrowings ₹8.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹114 ₹314
+174.1% above Net profit ₹16.8 ₹43.8
+160.4% above
M Cap ₹6,556 Cr
P/E 28.8
PEG —
Operating margin expanded 348 bps YoY Core business grew faster than reported profit (core profit +220%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+76.9% +74.7%
758 434 429 Operating profit
+129.5% +161.4%
115 44.0 50.1 OPM %
+348 bps +503 bps
15.2% 10.1% 11.7% Other income
+42.5% +30.0%
13.0 10.0 9.1 Net profit
+185.3% +150.0%
95.0 38.0 33.3 PAT margin %
+476 bps +378 bps
12.5% 8.8% 7.8% EPS (₹)
-72.0% +148.5%
8.30 3.34 29.65
Quality of profit
Pre-tax profit ₹126 Cr: core business ₹113 Cr, other income ₹13.0 Cr.
Core profit YoY: +219.7%
· reported profit +185.3%
Operating margin contracted 292 bps YoY Exceptional items of ₹10.7 Cr in the quarter
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+8.1% +29.0%
644 499 596 Operating profit
-9.3% +91.8%
97.9 51.1 108 OPM %
-292 bps +498 bps
15.2% 10.2% 18.1% Other income
-55.1% -44.9%
6.3 11.4 14.0 Net profit?
-10.4% +226.8%
77.3 23.7 86.3 PAT margin %
-247 bps +727 bps
12.0% 4.7% 14.5% EPS (₹)
-9.7% +226.8%
59.96 18.35 66.39
Quality of profit
Pre-tax profit ₹104 Cr: core business ₹86.6 Cr, other income ₹6.3 Cr, exceptional & other items ₹10.7 Cr.
Core profit YoY: -8.9%
· reported profit -10.4%
Cash & debt
Borrowings ₹67.0 Cr at Mar 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹629 ₹644
+2.4% in line Net profit ₹85.5 ₹77.3
-9.6% in line
M Cap ₹6,507 Cr
P/E 10.4
PEG 0.38
Profit -22% below its own trend Operating margin expanded 701 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+12.9% +60.2%
2,065 1,289 1,829 Operating profit
+60.7% +102.1%
487 241 303 OPM %
+701 bps +489 bps
23.6% 18.7% 16.6% Other income
-11.0% +5.7%
22.4 21.2 25.2 Net profit?
+56.5% +119.6%
319 145 204 PAT margin %
+430 bps +418 bps
15.4% 11.3% 11.1% EPS (₹)
+56.5% +119.5%
35.32 16.09 22.57
Quality of profit
Pre-tax profit ₹422 Cr: core business ₹400 Cr, other income ₹22.4 Cr.
Core profit YoY: +73.1%
· reported profit +56.5%
Cash & debt
FY26 cash from operations ₹656 Cr:
96% of FY26 net profit of ₹681 Cr.
Borrowings nil at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹2,415 ₹2,065
-14.5% below Net profit ₹407 ₹319
-21.7% below
M Cap ₹6,503 Cr
P/E 30.2
PEG —
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+19.5% +11.7%
1,475 1,321 1,234 Operating profit
+11.9% +17.3%
150 128 134 OPM %
-69 bps +49 bps
10.2% 9.7% 10.9% Other income
+0.0% -58.5%
1.0 2.4 1.0 Net profit?
+0.0% +24.0%
61.0 49.2 61.0 PAT margin %
-81 bps +41 bps
4.1% 3.7% 4.9% EPS (₹)
+0.0% +23.6%
3.87 3.13 3.87
Quality of profit
Pre-tax profit ₹83.0 Cr: core business ₹82.0 Cr, other income ₹1.0 Cr.
Core profit YoY: +6.5%
· reported profit +0.0%
Cash & debt
FY26 cash from operations ₹332 Cr:
172% of FY26 net profit of ₹193 Cr.
Borrowings ₹828 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,427 ₹1,475
+3.4% in line Net profit ₹62.1 ₹61.0
-1.7% in line
M Cap ₹6,497 Cr
P/E 47.4
PEG 0.33
Profit -71% below its own trend Operating margin expanded 220 bps YoY 46% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+24.5% -13.8%
971 1,126 780 Operating profit
+55.9% -49.5%
106 210 68.0 OPM %
+220 bps -773 bps
10.9% 18.7% 8.7% Other income
-77.8% +200.0%
6.0 2.0 27.0 Net profit
-42.1% -87.5%
11.0 88.0 19.0 PAT margin %
-130 bps -668 bps
1.1% 7.8% 2.4% EPS (₹)
-39.3% -87.2%
1.42 11.08 2.34
Quality of profit
Pre-tax profit ₹13.0 Cr: core business ₹7.0 Cr, other income ₹6.0 Cr.
Core profit YoY: from loss
· reported profit -42.1%
Cash & debt
FY26 cash from operations ₹501 Cr:
404% of FY26 net profit of ₹124 Cr.
Borrowings ₹958 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹894 ₹971
+8.6% above Net profit ₹38.0 ₹11.0
-71.1% below
M Cap ₹6,493 Cr
P/E 14.1
PEG 1.18
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+12.3% +6.0%
1,324 1,249 1,179 Operating profit
+16.7% +11.8%
142 127 122 OPM %
+40 bps +56 bps
10.7% 10.2% 10.3% Other income
-20.4% -7.5%
32.0 34.6 40.2 Net profit?
+7.7% +7.1%
124 116 115 PAT margin %
-40 bps +9 bps
9.4% 9.3% 9.8% EPS (₹)
+8.9% +7.7%
16.11 14.96 14.80
Quality of profit
Pre-tax profit ₹132 Cr: core business ₹100 Cr, other income ₹32.0 Cr.
Core profit YoY: +14.9%
· reported profit +7.7%
Cash & debt
FY26 cash from operations ₹444 Cr:
96% of FY26 net profit of ₹460 Cr.
Borrowings ₹312 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,284 ₹1,324
+3.1% in line Net profit ₹130 ₹124
-4.3% in line
M Cap ₹6,488 Cr
P/E 25.4
PEG 0.91
Operating margin contracted 148 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+16.0% +1.7%
414 407 357 Operating profit
+9.9% -4.3%
111 116 101 OPM %
-148 bps -168 bps
26.8% 28.5% 28.3% Other income
+33.3% +10.9%
8.0 7.2 6.0 Net profit
+14.5% -3.1%
63.0 65.0 55.0 PAT margin %
-19 bps -76 bps
15.2% 16.0% 15.4% EPS (₹)
+15.8% -2.6%
57.89 59.42 49.99
Quality of profit
Pre-tax profit ₹84.0 Cr: core business ₹76.0 Cr, other income ₹8.0 Cr.
Core profit YoY: +13.4%
· reported profit +14.5%
Cash & debt
FY26 cash from operations ₹362 Cr:
148% of FY26 net profit of ₹244 Cr.
Borrowings ₹403 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹408 ₹414
+1.5% in line Net profit ₹62.9 ₹63.0
+0.2% in line
M Cap ₹6,461 Cr
P/E 12.3
PEG 0.56
Profit +180% above its own trend Operating margin expanded 840 bps YoY Core business grew faster than reported profit (core profit +180%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+34.5% +8.6%
763 703 567 Operating profit
+125.5% -3.2%
159 164 70.5 OPM %
+840 bps -254 bps
20.8% 23.4% 12.4% Other income
-59.2% -67.0%
7.0 21.2 17.2 Net profit
+118.8% -21.2%
103 131 47.1 PAT margin %
+520 bps -509 bps
13.5% 18.6% 8.3% EPS (₹)
+119.8% -20.9%
19.17 24.22 8.72
Quality of profit
Pre-tax profit ₹136 Cr: core business ₹129 Cr, other income ₹7.0 Cr.
Core profit YoY: +180.0%
· reported profit +118.8%
Cash & debt
FY26 cash from operations ₹319 Cr:
75% of FY26 net profit of ₹424 Cr.
Borrowings ₹982 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹569 ₹763
+34.0% above Net profit ₹36.8 ₹103
+180.1% above
M Cap ₹6,459 Cr
P/E 13.1
PEG 0.21
Profit -11% below its own trend Operating margin expanded 723 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+37.8% +20.1%
796 663 578 Operating profit
+71.8% +23.5%
291 236 169 OPM %
+723 bps +100 bps
36.6% 35.6% 29.3% Other income
+75.0% +6.1%
14.0 13.2 8.0 Net profit?
+48.8% +23.2%
155 126 104 PAT margin %
+144 bps +49 bps
19.5% 19.0% 18.0% EPS (₹)
+46.0% +23.3%
7.36 5.97 5.04
Quality of profit
Pre-tax profit ₹214 Cr: core business ₹199 Cr, other income ₹14.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +42.7%
· reported profit +48.8%
Cash & debt
FY26 cash from operations ₹424 Cr:
83% of FY26 net profit of ₹509 Cr.
Borrowings ₹5,197 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,019 ₹796
-21.9% below Net profit ₹175 ₹155
-11.4% below
M Cap ₹6,453 Cr
P/E 28.7
PEG 0.34
Profit +14% above its own trend Core business grew faster than reported profit (core profit +94%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+29.4% +21.6%
1,667 1,371 1,288 Operating profit
+40.2% +22.6%
173 141 124 OPM %
+80 bps +9 bps
10.4% 10.3% 9.6% Other income
-87.7% -63.8%
1.5 4.3 12.6 Net profit?
+62.9% +47.9%
78.1 52.8 47.9 PAT margin %
+96 bps +83 bps
4.7% 3.9% 3.7% EPS (₹)
+61.9% +50.3%
6.96 4.63 4.30
Quality of profit
Pre-tax profit ₹101 Cr: core business ₹97.4 Cr, other income ₹1.5 Cr, exceptional & other items ₹2.5 Cr.
Core profit YoY: +94.4%
· reported profit +62.9%
Cash & debt
FY26 cash from operations ₹277 Cr:
130% of FY26 net profit of ₹213 Cr.
Borrowings ₹948 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,472 ₹1,667
+13.3% above Net profit ₹68.5 ₹78.1
+14.0% above
M Cap ₹6,408 Cr
P/E 43.2
PEG 2.70
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+9.0% -8.8%
486 533 446 Operating profit
+11.6% -8.8%
62.0 68.0 55.6 OPM %
+30 bps -0 bps
12.8% 12.8% 12.5% Other income
-12.1% +42.9%
10.0 7.0 11.4 Net profit?
+2.1% -7.9%
35.0 38.0 34.3 PAT margin %
-48 bps +7 bps
7.2% 7.1% 7.7% EPS (₹)
+2.9% -7.3%
1.15 1.24 adj. 1.12
EPS restated for the ₹10 to ₹2 split of Dec 2025: Mar 2025 ₹5.59 to ₹1.12.
Quality of profit
Pre-tax profit ₹47.0 Cr: core business ₹37.0 Cr, other income ₹10.0 Cr.
Core profit YoY: +9.2%
· reported profit +2.1%
Cash & debt
FY26 cash from operations ₹218 Cr:
155% of FY26 net profit of ₹141 Cr.
Borrowings ₹191 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹487 ₹486
-0.1% in line Net profit ₹33.3 ₹35.0
+5.0% in line
Operating margin expanded 187 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+11.7% -1.1%
707 715 633 Operating profit
+29.8% +6.1%
95.0 89.5 73.2 OPM %
+187 bps +92 bps
13.4% 12.5% 11.6% Other income
+2.8% -22.2%
8.0 10.3 7.8 Net profit?
loss narrowed loss narrowed -47.4 -47.9 -60.0 PAT margin %
+278 bps -0 bps
-6.7% -6.7% -9.5% EPS (₹)
loss narrowed loss narrowed -0.73 -0.75 -0.97
Quality of profit
Pre-tax profit −₹47.4 Cr: core business −₹55.5 Cr, other income ₹8.0 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY26 cash from operations ₹303 Cr.
Borrowings ₹1,967 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹693 ₹707
+2.0% in line
M Cap ₹6,402 Cr
P/E 5.1
PEG 0.08
Profit -78% below its own trend Operating margin contracted 431 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
-25.7% +7.6%
2,300 2,138 3,096 Operating profit
-40.7% +2.6%
392 382 661 OPM %
-431 bps -82 bps
17.0% 17.9% 21.4% Other income
-24.4% -91.4%
65.0 755 86.0 Net profit?
-55.1% -84.3%
124 789 276 PAT margin %
-352 bps -3151 bps
5.4% 36.9% 8.9% EPS (₹)
-79.8% -92.5%
3.82 51.09 18.92
Quality of profit
Pre-tax profit ₹153 Cr: core business ₹88.0 Cr, other income ₹65.0 Cr.
Core profit YoY: -66.8%
· reported profit -55.1%
Cash & debt
FY26 cash from operations ₹1,204 Cr:
86% of FY26 net profit of ₹1,398 Cr.
Borrowings ₹8,041 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹2,572 ₹2,300
-10.6% below Net profit ₹552 ₹124
-77.5% below
M Cap ₹6,383 Cr
P/E 15.3
PEG 0.22
Turnaround: profit against a loss a year ago Operating margin expanded 2686 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+17.8% +12.7%
440 390 374 Operating profit
+782.5% +10.8%
136 123 15.5 OPM %
+2686 bps -51 bps
31.0% 31.5% 4.1% Other income
-24.5% +13.1%
8.9 7.9 11.8 Net profit?
from loss +68.8%
169 100 -29.5 PAT margin %
+4635 bps +1278 bps
38.4% 25.7% -7.9% EPS (₹)
from loss +67.6%
12.07 7.20 -1.53
Quality of profit
Pre-tax profit ₹120 Cr: core business ₹112 Cr, other income ₹8.9 Cr.
Core profit YoY: from loss
Cash & debt
FY26 cash from operations ₹423 Cr:
332% of FY26 net profit of ₹127 Cr.
Borrowings ₹162 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹392 ₹440
+12.3% above
M Cap ₹6,380 Cr
P/E 60.3
PEG 8.61
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+23.1% +21.6%
163 134 132 Operating profit
+22.8% +9.4%
35.0 32.0 28.5 OPM %
-5 bps -241 bps
21.5% 23.9% 21.5% Other income
+1.8% +100.0%
4.0 2.0 3.9 Net profit?
+23.5% +18.2%
26.0 22.0 21.1 PAT margin %
+6 bps -47 bps
16.0% 16.4% 15.9% EPS (₹)
+23.5% +17.4%
4.52 3.85 3.66
Quality of profit
Pre-tax profit ₹35.0 Cr: core business ₹30.0 Cr, other income ₹4.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +23.2%
· reported profit +23.5%
Cash & debt
FY26 cash from operations ₹55.0 Cr:
58% of FY26 net profit of ₹95.6 Cr.
Borrowings ₹61.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹144 ₹163
+13.5% above Net profit ₹25.8 ₹26.0
+0.7% in line
M Cap ₹6,373 Cr
P/E 38.7
PEG 3.87
Profit -10% below its own trend Operating margin contracted 134 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+12.3% -7.6%
473 512 421 Operating profit
+1.9% +10.7%
62.0 56.0 60.9 OPM %
-134 bps +217 bps
13.1% 10.9% 14.5% Other income
+16.1% +16.7%
7.0 6.0 6.0 Net profit?
-1.6% +12.1%
37.0 33.0 37.6 PAT margin %
-111 bps +138 bps
7.8% 6.4% 8.9% EPS (₹)
-0.5% +14.0%
7.65 6.71 7.69
Quality of profit
Pre-tax profit ₹49.0 Cr: core business ₹42.0 Cr, other income ₹7.0 Cr.
Core profit YoY: -3.2%
· reported profit -1.6%
Cash & debt
FY26 cash from operations ₹173 Cr:
103% of FY26 net profit of ₹167 Cr.
Borrowings ₹117 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹489 ₹473
-3.2% in line Net profit ₹41.3 ₹37.0
-10.4% below
Into loss: a profit a year ago Exceptional items of ₹-12.8 Cr in the quarter
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+11.4% -2.7%
792 814 711 Operating profit
+17.2% -7.3%
124 134 106 OPM %
+78 bps -78 bps
15.7% 16.5% 14.9% Other income
-61.8% -29.8%
5.0 7.1 13.0 Net profit?
to loss loss widened -12.6 -4.8 2.0 PAT margin %
-188 bps -100 bps
-1.6% -0.6% 0.3% EPS (₹)
to loss loss widened -0.39 -0.15 0.06
Quality of profit
Pre-tax profit −₹15.5 Cr: core business −₹7.6 Cr, other income ₹5.0 Cr, exceptional & other items −₹12.8 Cr.
Core profit YoY: loss narrowed
Against its own trend ?
Trend Actual Gap
Sales ₹767 ₹792
+3.3% in line
M Cap ₹6,292 Cr
P/E 109.9
PEG 1.49
Operating margin expanded 146 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+67.5% +123.7%
283 127 169 Operating profit
+84.0% +142.1%
46.0 19.0 25.0 OPM %
+146 bps +124 bps
16.3% 15.0% 14.8% Other income
+100.0% +100.0%
2.0 1.0 1.0 Net profit?
+85.7% +154.7%
26.0 10.2 14.0 PAT margin %
+90 bps +112 bps
9.2% 8.1% 8.3% EPS (₹)
+94.3% +162.4%
16.90 6.44 8.70
Quality of profit
Pre-tax profit ₹34.0 Cr: core business ₹33.0 Cr, other income ₹2.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +73.7%
· reported profit +85.7%
Cash & debt
FY26 cash from operations ₹94.0 Cr:
189% of FY26 net profit of ₹49.8 Cr.
Borrowings ₹249 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹172 ₹283
+64.5% above Net profit ₹27.5 ₹26.0
-5.3% in line
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, 22:38 IST
