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.
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 28 of 171
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M Cap ₹5,726 Cr
P/E 21.6
PEG —
Profit -51% below its own trend Operating margin contracted 1037 bps YoY 28% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-62.2% +4.1%
95.0 91.3 251 Operating profit
-66.8% -4.1%
72.0 75.1 217 OPM %
-1037 bps -646 bps
75.8% 82.3% 86.2% Other income
+250.9% —
27.0 0.2 7.7 Net profit?
-63.0% +13.5%
61.0 53.7 165 PAT margin %
-138 bps +534 bps
64.2% 58.9% 65.6% EPS (₹)
-62.8% +14.3%
7.36 6.44 19.78
Quality of profit
Pre-tax profit ₹96.0 Cr: core business ₹69.0 Cr, other income ₹27.0 Cr.
Core profit YoY: -67.7%
· reported profit -63.0%
Against its own trend ?
Trend Actual Gap
Sales ₹181 ₹95.0
-47.5% below Net profit ₹124 ₹61.0
-50.7% below
M Cap ₹5,723 Cr
P/E 11.4
PEG 0.09
Profit -38% below its own trend 39% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +7%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+6.2% +0.3%
307 306 289 Operating profit
+3.5% -6.3%
89.0 95.0 86.0 OPM %
-77 bps -206 bps
29.0% 31.0% 29.8% Other income
-55.0% -23.4%
49.0 64.0 109 Net profit
-36.7% -15.3%
100 118 158 PAT margin %
-2210 bps -599 bps
32.6% 38.6% 54.7% EPS (₹)
-36.5% -15.2%
11.76 13.87 18.53
Quality of profit
Pre-tax profit ₹125 Cr: core business ₹76.0 Cr, other income ₹49.0 Cr.
Core profit YoY: +7.0%
· reported profit -36.7%
Cash & debt
FY26 cash from operations ₹269 Cr:
54% of FY26 net profit of ₹497 Cr.
Borrowings ₹85.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹308 ₹307
-0.2% in line Net profit ₹161 ₹100
-37.8% below
M Cap ₹5,711 Cr
P/E 69.9
PEG 4.66
Operating margin expanded 502 bps YoY 29% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -11%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-29.0% -23.2%
142 185 200 Operating profit
-6.8% -8.6%
30.0 32.8 32.2 OPM %
+502 bps +336 bps
21.1% 17.8% 16.1% Other income
+119.2% +27.9%
10.0 7.8 4.6 Net profit?
+12.8% -0.0%
28.0 28.0 24.8 PAT margin %
+730 bps +456 bps
19.7% 15.2% 12.4% EPS (₹)
+14.2% +1.2%
3.30 3.26 2.89
Quality of profit
Pre-tax profit ₹38.0 Cr: core business ₹27.0 Cr, other income ₹10.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: -10.7%
· reported profit +12.8%
Cash & debt
FY26 cash from operations ₹70.0 Cr:
85% of FY26 net profit of ₹82.1 Cr.
Borrowings ₹1.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹227 ₹142
-37.4% below Net profit ₹27.2 ₹28.0
+3.1% in line
M Cap ₹5,684 Cr
P/E 34.2
PEG 0.83
Profit +16% above its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+22.5% +14.0%
1,564 1,371 1,277 Operating profit
+22.7% +26.1%
126 100 103 OPM %
+1 bps +77 bps
8.1% 7.3% 8.1% Other income
+191.7% +37.6%
8.8 6.4 3.0 Net profit?
+50.8% +59.4%
58.8 36.9 39.0 PAT margin %
+71 bps +107 bps
3.8% 2.7% 3.1% EPS (₹)
+51.9% +61.1%
23.78 14.76 15.65
Quality of profit
Pre-tax profit ₹77.3 Cr: core business ₹65.3 Cr, other income ₹8.8 Cr, exceptional & other items ₹3.3 Cr.
Core profit YoY: +33.2%
· reported profit +50.8%
Cash & debt
FY26 cash from operations ₹477 Cr:
302% of FY26 net profit of ₹158 Cr.
Borrowings ₹768 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,379 ₹1,564
+13.4% above Net profit ₹50.5 ₹58.8
+16.5% above
M Cap ₹5,660 Cr
P/E 14.8
PEG 0.67
Profit +22% above its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Total income
+14.9% +11.0%
617 556 537 Net interest income
+17.8% +8.6%
377 347 320 Other income
+0.0% +0.0%
1.0 1.0 1.0 Net profit
+40.3% +14.8%
101 88.0 72.0 EPS (₹)
+40.1% +14.5%
2.69 2.35 1.92 Gross NPA %
-15 bps -19 bps
1.9% 2.1% 2.0% Net NPA %
+6 bps -12 bps
1.3% 1.4% 1.2%
Against its own trend ?
Trend Actual Gap
NII ₹351 ₹377
+7.3% above Net profit ₹82.9 ₹101
+21.9% above
M Cap ₹5,650 Cr
P/E 27.0
PEG 1.00
Profit +23% above its own trend Operating margin expanded 269 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-1.5% +4.9%
1,088 1,037 1,105 Operating profit
+32.9% +11.8%
113 101 85.0 OPM %
+269 bps +64 bps
10.4% 9.7% 7.7% Other income
+12.5% +417.4%
9.0 1.7 8.0 Net profit?
+33.3% +28.2%
56.0 43.7 42.0 PAT margin %
+135 bps +94 bps
5.1% 4.2% 3.8% EPS (₹)
+28.1% +27.9%
16.41 12.83 12.81
Quality of profit
Pre-tax profit ₹77.0 Cr: core business ₹68.0 Cr, other income ₹9.0 Cr.
Core profit YoY: +38.8%
· reported profit +33.3%
Cash & debt
FY26 cash from operations ₹200 Cr:
110% of FY26 net profit of ₹182 Cr.
Borrowings ₹1,119 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,203 ₹1,088
-9.6% below Net profit ₹45.7 ₹56.0
+22.6% above
Profit -21% below its own trend Operating margin contracted 425 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+32.4% +14.6%
360 314 272 Operating profit
+9.0% -8.2%
71.4 77.8 65.5 OPM %
-425 bps -493 bps
19.9% 24.8% 24.1% Other income
+81.3% +184.9%
4.1 1.4 2.2 Net profit?
+12.3% -6.3%
44.7 47.7 39.8 PAT margin %
-222 bps -276 bps
12.4% 15.2% 14.7% EPS (₹)
+9.2% -4.3%
4.62 4.83 4.23
Quality of profit
Pre-tax profit ₹62.8 Cr: core business ₹58.7 Cr, other income ₹4.1 Cr.
Core profit YoY: +14.0%
· reported profit +12.3%
Against its own trend ?
Trend Actual Gap
Sales ₹308 ₹360
+16.8% above Net profit ₹56.2 ₹44.7
-20.5% below
M Cap ₹5,636 Cr
P/E 38.5
PEG 38.48
Turnaround: profit against a loss a year ago
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+31.0% +7.3%
4,489 4,185 3,428 Operating profit
+25.5% +9.4%
207 189 165 OPM %
-20 bps +9 bps
4.6% 4.5% 4.8% Other income
from loss from loss 20.5 -276 -283 Net profit?
from loss from loss 102 -138 -223 PAT margin %
+880 bps +559 bps
2.3% -3.3% -6.5% EPS (₹)
from loss from loss 7.30 -9.81 -15.47
Quality of profit
Pre-tax profit ₹109 Cr: core business ₹88.0 Cr, other income ₹20.5 Cr.
Core profit YoY: -1.1%
Cash & debt
FY26 cash from operations ₹770 Cr:
559% of FY26 net profit of ₹138 Cr.
Borrowings ₹1,789 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹3,914 ₹4,489
+14.7% above
M Cap ₹5,609 Cr
P/E 19.9
PEG —
Profit -13% below its own trend Operating margin expanded 176 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-18.3% -13.8%
1,508 1,750 1,845 Operating profit
-9.7% +84.8%
279 151 309 OPM %
+176 bps +987 bps
18.5% 8.6% 16.7% Other income
+160.0% from loss 13.0 -2.0 5.0 Net profit
-4.6% +79.0%
167 93.3 175 PAT margin %
+159 bps +574 bps
11.1% 5.3% 9.5% EPS (₹)
-9.9% +118.6%
7.65 3.50 8.49
Quality of profit
Pre-tax profit ₹229 Cr: core business ₹216 Cr, other income ₹13.0 Cr.
Core profit YoY: -13.3%
· reported profit -4.6%
Cash & debt
FY26 cash from operations ₹175 Cr:
60% of FY26 net profit of ₹293 Cr.
Borrowings ₹2,098 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹2,232 ₹1,508
-32.4% below Net profit ₹192 ₹167
-12.9% below
M Cap ₹5,564 Cr
P/E 32.8
PEG 2.05
Profit +26% above its own trend Operating margin expanded 325 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+6.7% +4.4%
283 271 265 Operating profit
+28.1% -1.0%
55.0 55.6 42.9 OPM %
+325 bps -108 bps
19.4% 20.5% 16.2% Other income
+245.5% +257.1%
4.0 1.1 1.2 Net profit
+31.2% -17.4%
38.0 46.0 29.0 PAT margin %
+251 bps -355 bps
13.4% 17.0% 10.9% EPS (₹)
+30.4% -17.7%
22.36 27.16 17.15
Quality of profit
Pre-tax profit ₹52.0 Cr: core business ₹48.0 Cr, other income ₹4.0 Cr.
Core profit YoY: +31.3%
· reported profit +31.2%
Cash & debt
FY26 cash from operations ₹177 Cr:
119% of FY26 net profit of ₹149 Cr.
Borrowings ₹29.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹294 ₹283
-3.8% in line Net profit ₹30.2 ₹38.0
+25.8% above
M Cap ₹5,555 Cr
P/E 82.1
PEG 1.16
Turnaround: profit against a loss a year ago 35% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+21.3% +11.6%
3,032 2,716 2,499 Operating profit
+29.0% +6.1%
218 206 169 OPM %
+43 bps -38 bps
7.2% 7.6% 6.8% Other income
-42.9% +11.1%
8.0 7.2 14.0 Net profit?
from loss +60.9%
18.0 11.2 -4.0 PAT margin %
+75 bps +18 bps
0.6% 0.4% -0.2% EPS (₹)
from loss +66.7%
0.40 0.24 -0.11
Quality of profit
Pre-tax profit ₹26.0 Cr: core business ₹17.0 Cr, other income ₹8.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: from loss
Cash & debt
FY26 cash from operations ₹746 Cr:
641% of FY26 net profit of ₹116 Cr.
Borrowings ₹2,755 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹2,611 ₹3,032
+16.1% above
M Cap ₹5,522 Cr
P/E 30.8
PEG 0.23
Profit +56% above its own trend Operating margin expanded 208 bps YoY Profit grew faster than the core business (core profit +112%) Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+59.9% -14.2%
797 929 499 Operating profit
+88.5% -37.2%
109 174 57.8 OPM %
+208 bps -502 bps
13.7% 18.7% 11.6% Other income
+114.5% -6.6%
4.0 4.3 1.9 Net profit?
+179.7% -82.4%
18.0 102 6.4 PAT margin %
+97 bps -873 bps
2.3% 11.0% 1.3% EPS (₹)
+158.1% -83.5%
0.48 adj. 2.92adj. 0.19
EPS restated for the ₹10 to ₹1 split of Mar 2026: Dec 2025 ₹29.17 to ₹2.92; Mar 2025 ₹1.86 to ₹0.19.
Quality of profit
Pre-tax profit ₹22.0 Cr: core business ₹18.0 Cr, other income ₹4.0 Cr.
Core profit YoY: +112.2%
· reported profit +179.7%
Cash & debt
FY26 cash from operations −₹103 Cr:
-64% of FY26 net profit of ₹162 Cr.
Borrowings ₹995 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹812 ₹797
-1.8% in line Net profit ₹11.5 ₹18.0
+56.4% above
M Cap ₹5,510 Cr
P/E 18.9
PEG 1.18
Profit +237% above its own trend Operating margin expanded 714 bps YoY 36% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +143%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+18.9% +25.8%
585 465 492 Operating profit
+96.3% +103.8%
106 52.0 54.0 OPM %
+714 bps +694 bps
18.1% 11.2% 11.0% Other income
+212.5% —
50.0 0.0 16.0 Net profit?
+164.1% +267.9%
103 28.0 39.0 PAT margin %
+968 bps +1159 bps
17.6% 6.0% 7.9% EPS (₹)
+166.8% +264.9%
6.35 1.74 2.38
Quality of profit
Pre-tax profit ₹140 Cr: core business ₹90.0 Cr, other income ₹50.0 Cr.
Core profit YoY: +143.2%
· reported profit +164.1%
Cash & debt
FY26 cash from operations ₹200 Cr:
71% of FY26 net profit of ₹280 Cr.
Borrowings ₹15.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹496 ₹585
+17.9% above Net profit ₹30.5 ₹103
+237.3% above
M Cap ₹5,483 Cr
P/E 9.6
PEG 0.18
Profit +27% above its own trend Operating margin expanded 450 bps YoY Core business grew faster than reported profit (core profit +179%) Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+44.9% -35.0%
1,997 3,071 1,378 Operating profit
+115.7% -32.3%
274 405 127 OPM %
+450 bps +55 bps
13.7% 13.2% 9.2% Other income
-13.3% -56.7%
13.0 30.0 15.0 Net profit?
+153.2% -40.5%
157 264 62.0 PAT margin %
+336 bps -73 bps
7.9% 8.6% 4.5% EPS (₹)
+151.4% -40.6%
9.58 16.13 3.81
Quality of profit
Pre-tax profit ₹208 Cr: core business ₹195 Cr, other income ₹13.0 Cr.
Core profit YoY: +178.6%
· reported profit +153.2%
Cash & debt
FY26 cash from operations −₹789 Cr:
-137% of FY26 net profit of ₹575 Cr.
Borrowings ₹2,699 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,731 ₹1,997
+15.4% above Net profit ₹124 ₹157
+26.6% above
M Cap ₹5,470 Cr
P/E 23.0
PEG —
Profit +134% above its own trend Operating margin expanded 486 bps YoY Core business grew faster than reported profit (core profit +631%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+19.6% +18.6%
1,245 1,050 1,041 Operating profit
+94.4% +29.4%
157 121 80.7 OPM %
+486 bps +105 bps
12.6% 11.6% 7.8% Other income
-93.3% -93.3%
3.0 45.0 44.8 Net profit?
+17.0% +82.6%
54.0 29.6 46.1 PAT margin %
-9 bps +152 bps
4.3% 2.8% 4.4% EPS (₹)
+17.9% +92.9%
7.85 4.07 6.66
Quality of profit
Pre-tax profit ₹85.0 Cr: core business ₹82.0 Cr, other income ₹3.0 Cr.
Core profit YoY: +630.8%
· reported profit +17.0%
Cash & debt
FY26 cash from operations ₹400 Cr:
257% of FY26 net profit of ₹156 Cr.
Borrowings ₹345 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,037 ₹1,245
+20.0% above Net profit ₹23.1 ₹54.0
+134.0% above
M Cap ₹5,462 Cr
P/E 42.7
PEG 1.22
Profit +84% above its own trend Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+83.2% +37.2%
1,753 1,278 957 Operating profit
+102.9% +29.6%
92.0 71.0 45.3 OPM %
+51 bps -31 bps
5.2% 5.6% 4.7% Other income
-7.1% +500.0%
6.0 1.0 6.5 Net profit?
+109.0% +21.9%
39.0 32.0 18.7 PAT margin %
+27 bps -28 bps
2.2% 2.5% 2.0% EPS (₹)
+116.6% +24.8%
4.18 3.35 adj. 1.93
EPS restated for the 1:1 bonus of Dec 2025: Mar 2025 ₹3.86 to ₹1.93.
Quality of profit
Pre-tax profit ₹57.0 Cr: core business ₹51.0 Cr, other income ₹6.0 Cr.
Core profit YoY: +114.6%
· reported profit +109.0%
Cash & debt
FY26 cash from operations −₹93.0 Cr:
-86% of FY26 net profit of ₹109 Cr.
Borrowings ₹657 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,162 ₹1,753
+50.9% above Net profit ₹21.2 ₹39.0
+84.2% above
Operating margin contracted 213 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+15.8% -16.2%
1,990 2,374 1,719 Operating profit
-5.5% -37.7%
188 302 199 OPM %
-213 bps -327 bps
9.4% 12.7% 11.6% Other income
-53.9% +180.0%
112 40.0 243 Net profit?
loss widened loss widened -164 -137 -24.0 PAT margin %
-685 bps -247 bps
-8.2% -5.8% -1.4% EPS (₹)
loss widened loss narrowed -1.22 -1.25 -0.14
Quality of profit
Pre-tax profit −₹195 Cr: core business −₹307 Cr, other income ₹112 Cr.
Core profit YoY: loss widened
Cash & debt
FY26 cash from operations ₹161 Cr.
Borrowings ₹6,189 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,878 ₹1,990
+6.0% above
M Cap ₹5,416 Cr
P/E 193.4
PEG —
Turnaround: profit against a loss a year ago 59% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+45.3% +10.2%
520 472 358 Operating profit
+45.7% +10.5%
338 306 232 OPM %
+20 bps +17 bps
65.0% 64.8% 64.8% Other income
+225.0% -18.8%
13.0 16.0 4.0 Net profit?
from loss —
17.0 1.0 -8.0 PAT margin %
+550 bps +306 bps
3.3% 0.2% -2.2% EPS (₹)
from loss —
1.45 0.11 -0.80
Quality of profit
Pre-tax profit ₹22.0 Cr: core business ₹9.0 Cr, other income ₹13.0 Cr.
Core profit YoY: from loss
M Cap ₹5,379 Cr
P/E 52.3
PEG —
₹ Cr QoQ
Mar 2026 Dec 2025
Sales
+235.4%
1,694 505 Operating profit
from loss 217 -74.7 OPM %
+2762 bps
12.8% -14.8% Other income
+14.0%
35.0 30.7 Net profit?
from loss 194 -67.0 PAT margin %
+2472 bps
11.4% -13.3% EPS (₹)
from loss 10.19 -3.05
Quality of profit
Pre-tax profit ₹226 Cr: core business ₹193 Cr, other income ₹35.0 Cr, exceptional & other items −₹1.3 Cr.
M Cap ₹5,339 Cr
P/E 28.7
PEG 0.54
Turnaround: profit against a loss a year ago FY26 operating cash flow was only 0% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+14.8% -0.8%
1,365 1,377 1,189 Operating profit
+19.1% -3.0%
189 195 159 OPM %
+50 bps -31 bps
13.8% 14.2% 13.3% Other income
+14.7% +120.7%
13.0 5.9 11.3 Net profit?
from loss +82.8%
66.0 36.1 -72.5 PAT margin %
+1093 bps +221 bps
4.8% 2.6% -6.1% EPS (₹)
from loss +84.3%
3.52 1.91 -6.99
Quality of profit
Pre-tax profit ₹82.0 Cr: core business ₹69.0 Cr, other income ₹13.0 Cr.
Core profit YoY: +25.4%
Cash & debt
FY26 cash from operations ₹0.0 Cr:
0% of FY26 net profit of ₹183 Cr.
Borrowings ₹1,336 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,343 ₹1,365
+1.7% in line
M Cap ₹5,331 Cr
P/E 16.7
PEG 1.67
Profit -30% below its own trend Operating margin contracted 102 bps YoY Core business grew faster than reported profit (core profit +8%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+21.8% -0.2%
815 817 669 Operating profit
+13.7% -13.8%
116 135 102 OPM %
-102 bps -226 bps
14.2% 16.5% 15.2% Other income
+55.4% +47.8%
24.0 16.2 15.4 Net profit?
-16.7% -20.9%
70.0 88.5 84.0 PAT margin %
-397 bps -224 bps
8.6% 10.8% 12.6% EPS (₹)
-17.0% -21.2%
21.86 27.73 26.35
Quality of profit
Pre-tax profit ₹103 Cr: core business ₹80.0 Cr, other income ₹24.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +8.1%
· reported profit -16.7%
Cash & debt
FY26 cash from operations ₹332 Cr:
104% of FY26 net profit of ₹319 Cr.
Borrowings ₹190 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹783 ₹815
+4.1% in line Net profit ₹100 ₹70.0
-30.1% below
M Cap ₹5,320 Cr
P/E 12.8
PEG 0.80
Profit +31% above its own trend Exceptional items of ₹-23.7 Cr in the quarter
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+3.6% +3.5%
938 906 905 Operating profit
+8.5% -0.8%
151 152 139 OPM %
+71 bps -71 bps
16.1% 16.8% 15.4% Other income
from loss +70.5%
23.9 14.0 -5.0 Net profit?
+31.0% -1.7%
106 108 81.0 PAT margin %
+237 bps -60 bps
11.3% 11.9% 9.0% EPS (₹)
+30.7% -2.0%
34.25 34.96 26.20
Quality of profit
Pre-tax profit ₹125 Cr: core business ₹125 Cr, other income ₹23.9 Cr, exceptional & other items −₹23.7 Cr.
Core profit YoY: +13.7%
· reported profit +31.0%
Cash & debt
FY26 cash from operations ₹542 Cr:
134% of FY26 net profit of ₹403 Cr.
Borrowings ₹438 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹999 ₹938
-6.2% below Net profit ₹80.8 ₹106
+31.4% above
M Cap ₹5,310 Cr
P/E 56.8
PEG —
Profit +999% above its own trend Operating margin expanded 320 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+25.8% +21.5%
858 706 682 Operating profit
+68.8% +58.3%
108 68.2 64.0 OPM %
+320 bps +293 bps
12.6% 9.7% 9.4% Other income
— -21.3%
2.0 2.5 0.0 Net profit?
— from loss 41.0 -0.6 1.0 PAT margin %
+463 bps +486 bps
4.8% -0.1% 0.1% EPS (₹)
— from loss 1.55 -0.02 0.08
Quality of profit
Pre-tax profit ₹52.0 Cr: core business ₹50.0 Cr, other income ₹2.0 Cr.
Core profit YoY: from loss
Cash & debt
FY26 cash from operations ₹292 Cr:
518% of FY26 net profit of ₹56.4 Cr.
Borrowings ₹1,160 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹780 ₹858
+10.0% above Net profit ₹0.5 ₹41.0
+999.0% above
M Cap ₹5,305 Cr
P/E 22.1
PEG 0.33
Profit +15% above its own trend Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+86.1% +9.2%
1,335 1,222 717 Operating profit
+64.4% -34.9%
69.0 106 42.0 OPM %
-68 bps -351 bps
5.2% 8.7% 5.9% Other income
+888.9% —
4.0 0.0 0.4 Net profit
+102.8% -30.5%
51.0 73.4 25.2 PAT margin %
+31 bps -218 bps
3.8% 6.0% 3.5% EPS (₹)
+102.3% -31.2%
22.17 32.21 10.96
Quality of profit
Pre-tax profit ₹67.0 Cr: core business ₹62.0 Cr, other income ₹4.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +81.4%
· reported profit +102.8%
Cash & debt
FY26 cash from operations −₹97.0 Cr:
-46% of FY26 net profit of ₹212 Cr.
Borrowings ₹290 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹788 ₹1,335
+69.4% above Net profit ₹44.2 ₹51.0
+15.3% above
M Cap ₹5,295 Cr
P/E 171.4
PEG —
Profit -40% below its own trend Operating margin contracted 588 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
-1.7% +0.4%
845 841 860 Operating profit
-68.9% -51.4%
23.0 47.3 73.9 OPM %
-588 bps -290 bps
2.7% 5.6% 8.6% Other income
+185.2% +460.9%
33.0 5.9 11.6 Net profit?
-69.9% from loss 12.0 -12.4 39.8 PAT margin %
-321 bps +289 bps
1.4% -1.5% 4.6% EPS (₹)
-71.0% from loss 0.63 -0.67 2.17
Quality of profit
Pre-tax profit ₹24.0 Cr: core business −₹9.0 Cr, other income ₹33.0 Cr.
Core profit YoY: to loss
· reported profit -69.9%
Cash & debt
FY26 cash from operations ₹200 Cr:
825% of FY26 net profit of ₹24.2 Cr.
Borrowings ₹173 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹818 ₹845
+3.3% in line Net profit ₹19.9 ₹12.0
-39.7% below
M Cap ₹5,285 Cr
P/E 13.9
PEG 1.74
Profit +128% above its own trend Gross NPA down 25 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Total income
+20.7% +5.7%
1,711 1,619 1,418 Net interest income
+26.5% +10.7%
736 665 582 Other income
+13.7% +8.6%
266 245 234 Net profit
+13.8% —
140 10.0 123 EPS (₹)
+13.0% —
13.28 0.92 11.75 Gross NPA %
-25 bps -13 bps
2.5% 2.6% 2.7% Net NPA %
-2 bps -2 bps
0.9% 0.9% 0.9%
Against its own trend ?
Trend Actual Gap
NII ₹589 ₹736
+24.9% above Net profit ₹61.5 ₹140
+127.6% above
M Cap ₹5,240 Cr
P/E 26.2
PEG 2.38
Profit -45% below its own trend 66% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -13%) FY26 operating cash flow was only 39% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+24.6% +9.4%
840 768 674 Operating profit
+11.7% +14.6%
69.0 60.2 61.8 OPM %
-95 bps +38 bps
8.2% 7.8% 9.2% Other income
+45.8% +243.9%
51.0 14.8 35.0 Net profit?
+10.7% +102.3%
55.0 27.2 49.7 PAT margin %
-82 bps +301 bps
6.5% 3.5% 7.4% EPS (₹)
+11.3% +103.3%
15.94 7.84 14.32
Quality of profit
Pre-tax profit ₹77.0 Cr: core business ₹26.0 Cr, other income ₹51.0 Cr.
Core profit YoY: -13.2%
· reported profit +10.7%
Cash & debt
FY26 cash from operations ₹63.0 Cr:
39% of FY26 net profit of ₹163 Cr.
Borrowings ₹1,177 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹840 ₹840
+0.0% in line Net profit ₹99.4 ₹55.0
-44.7% below
M Cap ₹5,238 Cr
P/E 25.8
PEG 0.22
Profit -73% below its own trend Operating margin contracted 1497 bps YoY FY26 operating cash flow was only 50% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+29.0% +53.6%
858 559 665 Operating profit
-49.4% +40.7%
83.0 59.0 164 OPM %
-1497 bps -89 bps
9.7% 10.6% 24.6% Other income
+125.2% +25.0%
10.0 8.0 4.4 Net profit?
-73.6% -9.0%
29.1 32.0 110 PAT margin %
-1317 bps -233 bps
3.4% 5.7% 16.6% EPS (₹)
-66.1% +21.0%
3.11 2.57 9.17
Quality of profit
Pre-tax profit ₹53.4 Cr: core business ₹56.0 Cr, other income ₹10.0 Cr, exceptional & other items −₹12.6 Cr.
Core profit YoY: -61.6%
· reported profit -73.6%
Cash & debt
FY26 cash from operations ₹124 Cr:
50% of FY26 net profit of ₹248 Cr.
Borrowings ₹488 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹710 ₹858
+20.9% above Net profit ₹107 ₹29.1
-72.7% below
M Cap ₹5,229 Cr
P/E 14.1
PEG 0.88
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+10.7% +3.7%
1,055 1,018 953 Operating profit
+5.6% +2.6%
136 133 129 OPM %
-63 bps -14 bps
12.9% 13.0% 13.5% Other income
+9.8% +2.7%
25.0 24.4 22.8 Net profit?
-3.0% +18.2%
90.0 76.1 92.8 PAT margin %
-121 bps +105 bps
8.5% 7.5% 9.7% EPS (₹)
-2.8% +17.2%
18.17 15.50 18.70
Quality of profit
Pre-tax profit ₹120 Cr: core business ₹94.0 Cr, other income ₹25.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: -8.3%
· reported profit -3.0%
Cash & debt
FY26 cash from operations ₹350 Cr:
101% of FY26 net profit of ₹345 Cr.
Borrowings ₹567 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,060 ₹1,055
-0.4% in line Net profit ₹96.5 ₹90.0
-6.7% in line
M Cap ₹5,222 Cr
P/E 8.2
PEG 1.65
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Total income
+10.6% +5.4%
1,507 1,430 1,362 Net interest income
+25.1% +2.4%
464 453 371 Other income
-19.7% +10.9%
306 276 381 Net profit
+6.3% +32.0%
202 153 190 EPS (₹)
+5.8% +32.0%
11.62 8.80 10.98 Gross NPA %
+9 bps -30 bps
1.7% 2.0% 1.6% Net NPA %
-12 bps -27 bps
0.4% 0.7% 0.5%
Against its own trend ?
Trend Actual Gap
NII ₹407 ₹464
+13.9% above Net profit ₹210 ₹202
-3.9% 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, 23:30 IST
