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.
Updated 13 Oct 2026, 22:38 IST
5115 declared
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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 27 of 171
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M Cap ₹6,284 Cr
P/E 33.6
PEG 4.80
Profit +271% above its own trend Operating margin expanded 159 bps YoY 32% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +64%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+18.8% +6.4%
1,042 979 877
Operating profit
+37.9% +26.3%
120 95.0 87.0
OPM %
+159 bps +181 bps
11.5% 9.7% 9.9%
Other income
+213.5% +933.3%
31.0 3.0 9.9
Net profit?
+160.7% +446.2%
71.0 13.0 27.2
PAT margin %
+371 bps +549 bps
6.8% 1.3% 3.1%
EPS (₹)
+161.6% +469.2%
5.18 0.91 1.98
Quality of profit
Core 68% Other income & one-offs 32%
Pre-tax profit ₹97.0 Cr: core business ₹66.0 Cr, other income ₹31.0 Cr.
Core profit YoY: +63.7%
· reported profit +160.7%
Cash & debt
FY26 cash from operations ₹171 Cr:
93% of FY26 net profit of ₹183 Cr.
Borrowings ₹993 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,011 ₹1,042
+3.0% in line
Net profit ₹19.1 ₹71.0
+271.3% above
M Cap ₹6,244 Cr
P/E 73.5
PEG —
Operating margin contracted 411 bps YoY 33% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -15%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+21.5% +2.3%
266 260 219
Operating profit
+0.0% -16.4%
51.0 61.0 51.0
OPM %
-411 bps -429 bps
19.2% 23.5% 23.3%
Other income
+200.0% +300.0%
12.0 3.0 4.0
Net profit?
+20.0% -6.2%
30.0 32.0 25.0
PAT margin %
-14 bps -103 bps
11.3% 12.3% 11.4%
EPS (₹)
-97.5% -5.6%
3.03 3.21 119.30
Quality of profit
Core 67% Other income & one-offs 33%
Pre-tax profit ₹33.0 Cr: core business ₹22.0 Cr, other income ₹12.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: -15.4%
· reported profit +20.0%
M Cap ₹6,242 Cr
P/E 25.2
PEG 1.33
Profit +42% above its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+33.8% -14.1%
676 787 505
Operating profit
+36.5% -24.5%
111 147 81.3
OPM %
+33 bps -226 bps
16.4% 18.7% 16.1%
Other income
+57.6% -29.0%
22.0 31.0 14.0
Net profit?
+68.8% -33.3%
70.0 105 41.5
PAT margin %
+215 bps -299 bps
10.4% 13.3% 8.2%
EPS (₹)
+68.0% -33.3%
1.26 1.89 0.75
Quality of profit
Core 77% Other income & one-offs 23%
Pre-tax profit ₹96.0 Cr: core business ₹74.0 Cr, other income ₹22.0 Cr.
Core profit YoY: +69.2%
· reported profit +68.8%
Cash & debt
FY26 cash from operations ₹174 Cr:
72% of FY26 net profit of ₹242 Cr.
Borrowings ₹720 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹564 ₹676
+19.8% above
Net profit ₹49.3 ₹70.0
+41.9% above
M Cap ₹6,231 Cr
P/E 8.1
PEG —
Operating margin expanded 2144 bps YoY 32% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-38.2% +11.3%
524 471 848
Operating profit
-10.4% +52.1%
362 238 404
OPM %
+2144 bps +1855 bps
69.1% 50.5% 47.6%
Other income
+41.0% +230.8%
86.0 26.0 61.0
Net profit?
-2.4% +113.6%
282 132 289
PAT margin %
+1974 bps +2579 bps
53.8% 28.0% 34.1%
EPS (₹)
-3.0% +110.6%
4.59 2.18 4.73
Quality of profit
Core 68% Other income & one-offs 32%
Pre-tax profit ₹264 Cr: core business ₹179 Cr, other income ₹86.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: -18.6%
· reported profit -2.4%
M Cap ₹6,204 Cr
P/E 11.2
PEG 0.08
Profit -32% below its own trend Exceptional items of ₹-27.6 Cr in the quarter
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+0.8% +31.4%
2,836 2,159 2,815
Operating profit
-4.4% +74.2%
510 293 534
OPM %
-97 bps +442 bps
18.0% 13.6% 19.0%
Other income
-19.2% from loss
39.0 -15.0 48.2
Net profit?
+14.9% +458.8%
295 52.8 257
PAT margin %
+128 bps +795 bps
10.4% 2.4% 9.1%
EPS (₹)
+14.9% +458.8%
38.28 6.85 33.32
Quality of profit
Core 82% Other income & one-offs 18%
Pre-tax profit ₹380 Cr: core business ₹314 Cr, other income ₹39.0 Cr, exceptional & other items ₹27.6 Cr.
Core profit YoY: -1.4%
· reported profit +14.9%
Cash & debt
FY26 cash from operations ₹950 Cr:
171% of FY26 net profit of ₹557 Cr.
Borrowings ₹3,391 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹3,068 ₹2,836
-7.6% below
Net profit ₹434 ₹295
-32.1% below
M Cap ₹6,198 Cr
P/E 86.2
PEG 2.15
Profit +22% above its own trend 56% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -12%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+8.5% -3.8%
308 320 284
Operating profit
-4.8% -16.7%
20.0 24.0 21.0
OPM %
-90 bps -101 bps
6.5% 7.5% 7.4%
Other income
+216.7% +35.7%
19.0 14.0 6.0
Net profit?
+88.2% +33.3%
32.0 24.0 17.0
PAT margin %
+440 bps +289 bps
10.4% 7.5% 6.0%
EPS (₹)
+69.8% +32.7%
0.73 0.55 0.43
Quality of profit
Core 44% Other income & one-offs 56%
Pre-tax profit ₹34.0 Cr: core business ₹15.0 Cr, other income ₹19.0 Cr.
Core profit YoY: -11.8%
· reported profit +88.2%
Cash & debt
FY26 cash from operations ₹196 Cr:
272% of FY26 net profit of ₹71.9 Cr.
Borrowings ₹44.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹439 ₹308
-29.9% below
Net profit ₹26.3 ₹32.0
+21.9% above
M Cap ₹6,198 Cr
P/E 15.4
PEG 0.27
Profit -48% below its own trend Operating margin contracted 102 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-4.3% +4.8%
1,863 1,777 1,946
Operating profit
-12.3% -8.8%
207 227 236
OPM %
-102 bps -166 bps
11.1% 12.8% 12.1%
Other income
-31.2% from loss
11.0 -4.0 16.0
Net profit?
-24.4% -12.7%
96.0 110 127
PAT margin %
-137 bps -104 bps
5.2% 6.2% 6.5%
EPS (₹)
-23.8% -12.0%
7.19 8.17 9.43
Quality of profit
Core 92% Other income & one-offs 8%
Pre-tax profit ₹144 Cr: core business ₹133 Cr, other income ₹11.0 Cr.
Core profit YoY: -17.4%
· reported profit -24.4%
Cash & debt
FY26 cash from operations ₹643 Cr:
160% of FY26 net profit of ₹403 Cr.
Borrowings ₹678 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹2,732 ₹1,863
-31.8% below
Net profit ₹186 ₹96.0
-48.3% below
M Cap ₹6,142 Cr
P/E 14.6
PEG 0.36
Profit +97% above its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+13.5% -1.8%
6,200 6,314 5,462
Operating profit
+59.8% +20.4%
195 162 122
OPM %
+91 bps +58 bps
3.1% 2.6% 2.2%
Other income
+30.0% +62.5%
13.0 8.0 10.0
Net profit?
+142.9% +52.6%
119 78.0 49.0
PAT margin %
+102 bps +68 bps
1.9% 1.2% 0.9%
EPS (₹)
+144.2% +53.2%
4.03 2.63 1.65
Quality of profit
Core 90% Other income & one-offs 10%
Pre-tax profit ₹148 Cr: core business ₹134 Cr, other income ₹13.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +123.3%
· reported profit +142.9%
Cash & debt
FY26 cash from operations ₹325 Cr:
88% of FY26 net profit of ₹370 Cr.
Borrowings ₹589 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹7,226 ₹6,200
-14.2% below
Net profit ₹60.3 ₹119
+97.2% above
26% of pre-tax profit came from other income and one-off items
₹ Cr
Mar 2026
Sales
204
Operating profit
104
OPM %
51.0%
Other income
9.0
Net profit?
26.0
PAT margin %
12.7%
EPS (₹)
9.31
Dec 2025 and Mar 2025 are not on record for this company, so there is nothing to compare with yet.
Quality of profit
Core 74% Other income & one-offs 26%
Pre-tax profit ₹35.0 Cr: core business ₹26.0 Cr, other income ₹9.0 Cr.
M Cap ₹6,135 Cr
P/E 3.9
PEG 0.04
Turnaround: profit against a loss a year ago Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
— —
1,853 8.4 27.2
Operating profit
from loss from loss
1,773 -56.9 -53.9
OPM %
— —
95.7% — —
Other income
— from loss
2.0 -12.0 0.0
Net profit
from loss from loss
1,761 -80.6 -61.0
PAT margin %
— —
95.0% — —
EPS (₹)
from loss from loss
54.26 -2.48 -1.88
Quality of profit
Core 100% Other income & one-offs 0%
Pre-tax profit ₹1,761 Cr: core business ₹1,759 Cr, other income ₹2.0 Cr.
Core profit YoY: from loss
Cash & debt
FY26 cash from operations −₹239 Cr:
-15% of FY26 net profit of ₹1,552 Cr.
Borrowings ₹559 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹16.0 ₹1,853
+999.0% above
Profit +30% above its own trend Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+59.6% +14.6%
755 659 473
Operating profit
+58.9% +27.1%
89.0 70.0 56.0
OPM %
-5 bps +117 bps
11.8% 10.6% 11.8%
Other income
-16.7% +25.0%
5.0 4.0 6.0
Net profit
+151.5% +151.5%
83.0 33.0 33.0
PAT margin %
+402 bps +599 bps
11.0% 5.0% 7.0%
EPS (₹)
+152.7% +149.5%
13.72 5.50 5.43
Quality of profit
Core 92% Other income & one-offs 8%
Pre-tax profit ₹72.0 Cr: core business ₹66.0 Cr, other income ₹5.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +65.0%
· reported profit +151.5%
Cash & debt
FY26 cash from operations −₹191 Cr:
-106% of FY26 net profit of ₹180 Cr.
Borrowings ₹733 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹903 ₹755
-16.4% below
Net profit ₹64.0 ₹83.0
+29.7% above
M Cap ₹6,094 Cr
P/E 12.3
PEG 0.44
Profit +999% above its own trend FY26 operating cash flow was only 24% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
— +894.5%
4,478 450 315
Operating profit
— +838.0%
651 69.4 47.7
OPM %
-61 bps -88 bps
14.5% 15.4% 15.2%
Other income
+362.4% +845.0%
15.6 1.7 3.4
Net profit?
— +803.5%
381 42.1 29.6
PAT margin %
-89 bps -86 bps
8.5% 9.4% 9.4%
EPS (₹)
+28.6% -9.8%
6.65 7.37 5.17
Quality of profit
Core 97% Other income & one-offs 3%
Pre-tax profit ₹507 Cr: core business ₹491 Cr, other income ₹15.6 Cr.
Cash & debt
FY26 cash from operations ₹117 Cr:
24% of FY26 net profit of ₹484 Cr.
Borrowings ₹344 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹377 ₹4,478
+999.0% above
Net profit ₹30.8 ₹381
+999.0% above
M Cap ₹6,084 Cr
P/E 46.4
PEG 0.33
Operating margin expanded 984 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
+53.2% +0.3%
175 175 114
Operating profit
+141.8% -13.0%
47.0 54.0 19.4
OPM %
+984 bps -408 bps
26.9% 30.9% 17.0%
Other income
+18.9% +270.4%
14.0 3.8 11.8
Net profit?
+105.9% +10.2%
37.0 33.6 18.0
PAT margin %
+541 bps +191 bps
21.1% 19.2% 15.7%
EPS (₹)
+80.1% -5.9%
6.86 7.29 3.81
Quality of profit
Pre-tax profit ₹159 Cr: core business −₹9.3 Cr, other income ₹14.0 Cr, exceptional & other items ₹154 Cr.
Core profit YoY: to loss
· reported profit +105.9%
Cash & debt
FY26 cash from operations ₹62.0 Cr:
51% of FY26 net profit of ₹122 Cr.
Borrowings ₹342 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹188 ₹175
-7.0% below
Net profit ₹35.7 ₹37.0
+3.7% in line
M Cap ₹6,049 Cr
P/E 24.6
PEG 0.79
Operating margin contracted 421 bps YoY 43% of pre-tax profit came from other income and one-off items Exceptional items of ₹3.2 Cr in the quarter Profit grew faster than the core business (core profit -52%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+18.1% +4.8%
1,074 1,025 910
Operating profit
-35.7% -31.6%
54.0 79.0 84.0
OPM %
-421 bps -268 bps
5.0% 7.7% 9.2%
Other income
-61.4% +67.3%
10.0 6.0 26.0
Net profit?
+2.9% +1.4%
70.0 69.0 68.0
PAT margin %
-96 bps -22 bps
6.5% 6.7% 7.5%
EPS (₹)
+2.6% +1.5%
11.56 11.39 11.27
Quality of profit
Core 57% Other income & one-offs 43%
Pre-tax profit ₹54.0 Cr: core business ₹31.0 Cr, other income ₹10.0 Cr, exceptional & other items ₹13.0 Cr.
Core profit YoY: -52.3%
· reported profit +2.9%
Cash & debt
FY26 cash from operations ₹295 Cr:
110% of FY26 net profit of ₹268 Cr.
Borrowings ₹57.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,020 ₹1,074
+5.4% above
Net profit ₹72.3 ₹70.0
-3.1% in line
M Cap ₹6,045 Cr
P/E 73.1
PEG 0.62
Operating margin expanded 304 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-7.7% +43.6%
340 237 369
Operating profit
+17.2% +51.8%
48.7 32.1 41.6
OPM %
+304 bps +77 bps
14.3% 13.5% 11.3%
Other income
+104.6% from loss
7.5 -92.2 3.6
Net profit?
+62.6% from loss
35.0 -62.0 21.5
PAT margin %
+444 bps +3646 bps
10.3% -26.2% 5.8%
EPS (₹)
+40.1% from loss
23.70 -42.11 16.92
Quality of profit
Core 84% Other income & one-offs 16%
Pre-tax profit ₹46.2 Cr: core business ₹38.7 Cr, other income ₹7.5 Cr.
Core profit YoY: +78.5%
· reported profit +62.6%
Cash & debt
FY26 cash from operations ₹60.0 Cr.
Borrowings ₹123 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹411 ₹340
-17.2% below
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+12.3% -22.6%
456 589 406
Operating profit
+15.5% -25.5%
82.0 110 71.0
OPM %
+49 bps -69 bps
18.0% 18.7% 17.5%
Other income
+20.0% +0.0%
6.0 6.0 5.0
Net profit
+25.7% -31.2%
44.0 64.0 35.0
PAT margin %
+103 bps -122 bps
9.6% 10.9% 8.6%
EPS (₹)
+25.2% -30.8%
1.44 2.08 1.15
Quality of profit
Core 88% Other income & one-offs 12%
Pre-tax profit ₹59.0 Cr: core business ₹52.0 Cr, other income ₹6.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +23.8%
· reported profit +25.7%
Cash & debt
FY26 cash from operations ₹135 Cr:
90% of FY26 net profit of ₹150 Cr.
Borrowings ₹236 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹459 ₹456
-0.6% in line
Net profit ₹42.7 ₹44.0
+3.1% in line
M Cap ₹5,977 Cr
P/E 41.3
PEG —
Profit -44% below its own trend Operating margin contracted 309 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+9.7% +31.3%
1,745 1,329 1,590
Operating profit
-30.8% +70.4%
92.0 54.0 133
OPM %
-309 bps +121 bps
5.3% 4.1% 8.4%
Other income
-100.0% -100.0%
0.0 8.0 19.0
Net profit
-72.0% +75.0%
21.0 12.0 75.0
PAT margin %
-351 bps +30 bps
1.2% 0.9% 4.7%
EPS (₹)
-72.3% +76.9%
0.23 0.13 0.83
Quality of profit
Core 100% Other income & one-offs 0%
Pre-tax profit ₹42.0 Cr: core business ₹42.0 Cr, other income ₹0.0 Cr.
Core profit YoY: -53.3%
· reported profit -72.0%
Cash & debt
FY26 cash from operations ₹358 Cr:
275% of FY26 net profit of ₹130 Cr.
Borrowings ₹417 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,376 ₹1,745
+26.8% above
Net profit ₹37.5 ₹21.0
-44.0% below
M Cap ₹5,968 Cr
P/E 17.1
PEG 8.55
Operating margin expanded 381 bps YoY Core business grew faster than reported profit (core profit +45%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+1.4% +7.6%
712 662 702
Operating profit
+26.0% +49.5%
139 93.0 110
OPM %
+381 bps +547 bps
19.5% 14.0% 15.7%
Other income
-51.5% -50.0%
14.0 28.0 28.8
Net profit?
+17.4% +44.4%
78.0 54.0 66.4
PAT margin %
+150 bps +280 bps
11.0% 8.2% 9.5%
EPS (₹)
+15.4% +43.1%
33.56 23.46 29.09
Quality of profit
Core 87% Other income & one-offs 13%
Pre-tax profit ₹105 Cr: core business ₹91.0 Cr, other income ₹14.0 Cr.
Core profit YoY: +45.2%
· reported profit +17.4%
Cash & debt
FY26 cash from operations ₹243 Cr:
83% of FY26 net profit of ₹294 Cr.
Borrowings ₹819 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹777 ₹712
-8.4% below
Net profit ₹75.4 ₹78.0
+3.5% in line
KUSUMGAR
· Q4 FY26 · Consolidated
M Cap ₹5,949 Cr
P/E —
PEG —
₹ Cr
Mar 2026
Sales
313
Operating profit
116
OPM %
37.1%
Other income
13.0
Net profit?
82.0
PAT margin %
26.2%
EPS (₹)
8.08
Dec 2025 and Mar 2025 are not on record for this company, so there is nothing to compare with yet.
Quality of profit
Core 89% Other income & one-offs 11%
Pre-tax profit ₹112 Cr: core business ₹100 Cr, other income ₹13.0 Cr, exceptional & other items −₹1.0 Cr.
M Cap ₹5,941 Cr
P/E 87.9
PEG —
Turnaround: profit against a loss a year ago Operating margin contracted 237 bps YoY 35% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+17.0% +6.8%
944 884 807
Operating profit
-9.9% -28.5%
75.0 105 83.2
OPM %
-237 bps -394 bps
7.9% 11.9% 10.3%
Other income
from loss +3.6%
9.0 8.7 -4.7
Net profit?
from loss from loss
15.0 -8.9 -27.9
PAT margin %
+505 bps +260 bps
1.6% -1.0% -3.5%
EPS (₹)
from loss from loss
3.82 -1.78 -6.00
Quality of profit
Core 65% Other income & one-offs 35%
Pre-tax profit ₹26.0 Cr: core business ₹17.0 Cr, other income ₹9.0 Cr.
Core profit YoY: -6.8%
Cash & debt
FY26 cash from operations ₹389 Cr:
699% of FY26 net profit of ₹55.6 Cr.
Borrowings ₹1,041 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹884 ₹944
+6.8% above
M Cap ₹5,920 Cr
P/E 16.0
PEG 2.28
Profit -34% below its own trend Operating margin contracted 403 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+0.2% +19.8%
1,902 1,588 1,898
Operating profit
-21.7% +34.1%
275 205 351
OPM %
-403 bps +155 bps
14.5% 12.9% 18.5%
Other income
+65.2% +280.0%
38.0 10.0 23.0
Net profit?
-28.6% +119.3%
125 57.0 175
PAT margin %
-265 bps +298 bps
6.6% 3.6% 9.2%
EPS (₹)
-33.1% +118.1%
9.99 4.58 14.93
Quality of profit
Core 78% Other income & one-offs 22%
Pre-tax profit ₹177 Cr: core business ₹138 Cr, other income ₹38.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: -40.0%
· reported profit -28.6%
Cash & debt
FY26 cash from operations ₹1,082 Cr:
262% of FY26 net profit of ₹413 Cr.
Borrowings ₹2,586 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹2,068 ₹1,902
-8.0% below
Net profit ₹189 ₹125
-33.9% below
M Cap ₹5,912 Cr
P/E 18.2
PEG 0.59
Profit +46% above its own trend FY26 operating cash flow was only 40% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+51.0% +15.3%
4,489 3,894 2,973
Operating profit
+41.5% +11.8%
133 119 94.0
OPM %
-20 bps -9 bps
3.0% 3.1% 3.2%
Other income
+220.0% +33.3%
16.0 12.0 5.0
Net profit?
+64.2% +16.0%
87.0 75.0 53.0
PAT margin %
+16 bps +1 bps
1.9% 1.9% 1.8%
EPS (₹)
+64.3% +14.5%
12.78 11.16 7.78
Quality of profit
Core 86% Other income & one-offs 14%
Pre-tax profit ₹114 Cr: core business ₹98.0 Cr, other income ₹16.0 Cr.
Core profit YoY: +50.8%
· reported profit +64.2%
Cash & debt
FY26 cash from operations ₹114 Cr:
40% of FY26 net profit of ₹283 Cr.
Borrowings ₹991 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹3,139 ₹4,489
+43.0% above
Net profit ₹59.7 ₹87.0
+45.6% above
M Cap ₹5,908 Cr
P/E 22.0
PEG 0.25
Profit -31% below its own trend Operating margin contracted 505 bps YoY 31% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -26%) FY26 operating cash flow was only 12% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-2.2% -15.1%
264 311 270
Operating profit
-20.0% -29.4%
60.0 85.0 75.0
OPM %
-505 bps -460 bps
22.7% 27.3% 27.8%
Other income
+475.0% +475.0%
23.0 4.0 4.0
Net profit?
+4.8% -7.0%
66.0 71.0 63.0
PAT margin %
+167 bps +217 bps
25.0% 22.8% 23.3%
EPS (₹)
-5.4% -12.3%
5.42 6.18 5.73
Quality of profit
Core 69% Other income & one-offs 31%
Pre-tax profit ₹75.0 Cr: core business ₹52.0 Cr, other income ₹23.0 Cr.
Core profit YoY: -25.7%
· reported profit +4.8%
Cash & debt
FY26 cash from operations ₹32.0 Cr:
12% of FY26 net profit of ₹259 Cr.
Borrowings ₹152 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹362 ₹264
-27.0% below
Net profit ₹95.4 ₹66.0
-30.8% below
M Cap ₹5,859 Cr
P/E 8.5
PEG —
Profit -48% below its own trend Operating margin contracted 101 bps YoY 60% of pre-tax profit came from other income and one-off items FY26 operating cash flow was only 20% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+37.0% -10.5%
2,633 2,941 1,922
Operating profit
+3.8% -53.3%
83.0 178 80.0
OPM %
-101 bps -289 bps
3.2% 6.0% 4.2%
Other income
-35.9% -30.6%
39.0 56.2 60.9
Net profit?
-27.5% -67.1%
52.0 158 71.8
PAT margin %
-176 bps -340 bps
2.0% 5.4% 3.7%
EPS (₹)
-27.2% -67.0%
1.31 3.97 1.80
Quality of profit
Core 40% Other income & one-offs 60%
Pre-tax profit ₹65.0 Cr: core business ₹26.0 Cr, other income ₹39.0 Cr.
Core profit YoY: -6.5%
· reported profit -27.5%
Cash & debt
FY26 cash from operations ₹136 Cr:
20% of FY26 net profit of ₹673 Cr.
Borrowings ₹27.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,975 ₹2,633
+33.3% above
Net profit ₹99.3 ₹52.0
-47.7% below
M Cap ₹5,838 Cr
P/E 226.9
PEG —
Profit -45% below its own trend Operating margin contracted 629 bps YoY 50% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -40%) Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+61.6% +9.3%
142 130 87.9
Operating profit
+4.0% -6.2%
16.1 17.2 15.5
OPM %
-629 bps -188 bps
11.4% 13.2% 17.6%
Other income
+347.4% —
4.8 0.0 1.1
Net profit?
+9.8% +39.2%
7.5 5.4 6.8
PAT margin %
-250 bps +113 bps
5.3% 4.2% 7.8%
EPS (₹)
+9.9% +39.9%
2.00 1.43 1.82
Quality of profit
Core 50% Other income & one-offs 50%
Pre-tax profit ₹9.6 Cr: core business ₹4.8 Cr, other income ₹4.8 Cr.
Core profit YoY: -39.7%
· reported profit +9.8%
Cash & debt
FY26 cash from operations −₹83.0 Cr:
-379% of FY26 net profit of ₹21.9 Cr.
Borrowings ₹409 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹161 ₹142
-11.7% below
Net profit ₹13.7 ₹7.5
-45.1% below
M Cap ₹5,829 Cr
P/E 25.0
PEG 2.08
Profit +75% above its own trend Operating margin expanded 314 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+31.7% +25.7%
840 668 638
Operating profit
+63.1% +20.2%
137 114 84.0
OPM %
+314 bps -76 bps
16.3% 17.1% 13.2%
Other income
-50.0% from loss
1.0 -9.0 2.0
Net profit?
+74.0% +50.0%
87.0 58.0 50.0
PAT margin %
+252 bps +167 bps
10.4% 8.7% 7.8%
EPS (₹)
+73.0% +49.3%
2.18 1.46 1.26
Quality of profit
Core 99% Other income & one-offs 1%
Pre-tax profit ₹116 Cr: core business ₹115 Cr, other income ₹1.0 Cr.
Core profit YoY: +62.0%
· reported profit +74.0%
Cash & debt
FY26 cash from operations ₹510 Cr:
221% of FY26 net profit of ₹230 Cr.
Borrowings ₹12.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹659 ₹840
+27.5% above
Net profit ₹49.8 ₹87.0
+74.6% above
M Cap ₹5,811 Cr
P/E 60.9
PEG —
Profit -78% below its own trend Operating margin contracted 1322 bps YoY 31% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-6.5% +18.0%
301 255 322
Operating profit
-50.9% -18.5%
44.0 54.0 89.6
OPM %
-1322 bps -656 bps
14.6% 21.2% 27.8%
Other income
-56.7% -28.6%
5.0 7.0 11.6
Net profit?
-79.4% -50.0%
12.0 24.0 58.3
PAT margin %
-1413 bps -543 bps
4.0% 9.4% 18.1%
EPS (₹)
-76.9% -42.9%
1.09 1.91 4.72
Quality of profit
Core 69% Other income & one-offs 31%
Pre-tax profit ₹16.0 Cr: core business ₹11.0 Cr, other income ₹5.0 Cr.
Core profit YoY: -83.8%
· reported profit -79.4%
Cash & debt
FY26 cash from operations ₹140 Cr:
133% of FY26 net profit of ₹105 Cr.
Borrowings ₹466 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹352 ₹301
-14.4% below
Net profit ₹55.6 ₹12.0
-78.4% below
₹ Cr
Mar 2026
Sales
110
Operating profit
45.0
OPM %
41.1%
Other income
3.8
Net profit?
16.8
PAT margin %
15.3%
EPS (₹)
4.86
Dec 2025 and Mar 2025 are not on record for this company, so there is nothing to compare with yet.
Quality of profit
Core 83% Other income & one-offs 17%
Pre-tax profit ₹22.7 Cr: core business ₹18.9 Cr, other income ₹3.8 Cr.
M Cap ₹5,796 Cr
P/E 13.6
PEG —
Profit +122% above its own trend 41% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +254%) Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+49.6% +31.7%
5,581 4,236 3,730
Operating profit
+80.9% +31.6%
322 245 178
OPM %
+100 bps -1 bps
5.8% 5.8% 4.8%
Other income
+109.3% +116.1%
113 52.3 54.0
Net profit?
+159.7% +131.0%
187 81.0 72.0
PAT margin %
+142 bps +144 bps
3.4% 1.9% 1.9%
EPS (₹)
+158.0% +129.9%
3.38 1.47 1.31
Quality of profit
Core 59% Other income & one-offs 41%
Pre-tax profit ₹276 Cr: core business ₹163 Cr, other income ₹113 Cr.
Core profit YoY: +254.3%
· reported profit +159.7%
Cash & debt
FY26 cash from operations −₹471 Cr:
-110% of FY26 net profit of ₹428 Cr.
Borrowings ₹4,128 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹3,542 ₹5,581
+57.6% above
Net profit ₹84.4 ₹187
+121.7% above
M Cap ₹5,727 Cr
P/E 34.1
PEG 17.05
Profit +48% above its own trend Operating margin expanded 310 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+17.3% +6.7%
619 580 528
Operating profit
+47.8% +62.4%
93.0 57.3 62.9
OPM %
+310 bps +516 bps
15.0% 9.9% 11.9%
Other income
-55.8% -62.2%
2.0 5.3 4.5
Net profit
+67.6% +157.5%
53.0 20.6 31.6
PAT margin %
+257 bps +502 bps
8.6% 3.5% 6.0%
EPS (₹)
+67.6% +158.6%
1.81 0.70 1.08
Quality of profit
Core 99% Other income & one-offs 1%
Pre-tax profit ₹71.0 Cr: core business ₹70.0 Cr, other income ₹2.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +73.4%
· reported profit +67.6%
Cash & debt
FY26 cash from operations ₹214 Cr:
156% of FY26 net profit of ₹138 Cr.
Borrowings ₹135 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹575 ₹619
+7.7% above
Net profit ₹35.8 ₹53.0
+47.9% 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, 22:38 IST