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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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 34 of 171
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M Cap ₹3,502 Cr
P/E 80.9
PEG —
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+12.4% -3.9%
1,776 1,849 1,580 Operating profit
+20.2% -49.8%
119 237 99.0 OPM %
+43 bps -612 bps
6.7% 12.8% 6.3% Other income
to loss to loss -33.0 34.1 84.0 Net profit?
loss widened to loss -52.0 42.9 -45.0 PAT margin %
-8 bps -525 bps
-2.9% 2.3% -2.8% EPS (₹)
loss widened to loss -8.55 7.04 -7.38
Quality of profit
Pre-tax profit −₹68.0 Cr: core business −₹34.0 Cr, other income −₹33.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY26 cash from operations ₹546 Cr:
1186% of FY26 net profit of ₹46.0 Cr.
Borrowings ₹2,186 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,680 ₹1,776
+5.7% above
Into loss: a profit a year ago Profit -250% below its own trend Operating margin contracted 387 bps YoY Exceptional items of ₹-55.6 Cr in the quarter
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-2.1% +17.9%
1,240 1,051 1,265 Operating profit
-53.6% +234.3%
43.2 12.9 93.0 OPM %
-387 bps +225 bps
3.5% 1.2% 7.3% Other income
-41.7% -35.4%
9.4 14.6 16.2 Net profit?
to loss loss widened -67.5 -34.1 59.0 PAT margin %
-1011 bps -220 bps
-5.4% -3.2% 4.7% EPS (₹)
to loss loss widened -5.85 -2.95 5.11
Quality of profit
Pre-tax profit −₹51.9 Cr: core business −₹2.6 Cr, other income ₹9.4 Cr, exceptional & other items −₹58.8 Cr.
Core profit YoY: to loss
Cash & debt
FY26 cash from operations ₹619 Cr.
Borrowings ₹159 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,214 ₹1,240
+2.1% in line Net profit ₹45.1 −₹67.5
-249.6% below
Operating margin expanded 1904 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+12.8% -15.4%
1,697 2,006 1,505 Operating profit
loss narrowed loss narrowed -102 -155 -377 OPM %
+1904 bps +173 bps
-6.0% -7.7% -25.1% Other income
-62.3% +114.8%
2.0 0.9 5.3 Net profit?
loss narrowed loss narrowed -110 -162 -359 PAT margin %
+1735 bps +159 bps
-6.5% -8.1% -23.8% EPS (₹)
loss narrowed loss narrowed -0.80 -1.17 -2.58
Quality of profit
Pre-tax profit −₹123 Cr: core business −₹124 Cr, other income ₹2.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY26 cash from operations −₹56.0 Cr.
Borrowings ₹1,101 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,660 ₹1,697
+2.2% in line
M Cap ₹3,477 Cr
P/E 19.3
PEG —
Profit +43% above its own trend Operating margin expanded 994 bps YoY Core business grew faster than reported profit (core profit +195%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+34.1% +20.6%
339 281 253 Operating profit
+129.7% +44.6%
81.0 56.0 35.3 OPM %
+994 bps +397 bps
23.9% 19.9% 14.0% Other income
-84.3% -82.4%
1.0 5.7 6.4 Net profit?
+123.4% +53.1%
51.0 33.3 22.8 PAT margin %
+601 bps +319 bps
15.0% 11.9% 9.0% EPS (₹)
+123.9% +53.5%
11.33 7.38 5.06
Quality of profit
Pre-tax profit ₹66.0 Cr: core business ₹66.0 Cr, other income ₹1.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +194.7%
· reported profit +123.4%
Cash & debt
FY26 cash from operations ₹174 Cr:
110% of FY26 net profit of ₹158 Cr.
Borrowings ₹155 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹277 ₹339
+22.2% above Net profit ₹35.6 ₹51.0
+43.2% above
M Cap ₹3,464 Cr
P/E 32.8
PEG —
Profit +71% above its own trend Operating margin contracted 204 bps YoY Profit grew faster than the core business (core profit -30%) Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+6.8% +29.8%
873 673 818 Operating profit
-16.5% +78.2%
64.0 35.9 76.6 OPM %
-204 bps +199 bps
7.3% 5.3% 9.4% Other income
+609.7% +69.5%
11.0 6.5 1.6 Net profit?
-2.1% +275.7%
47.0 12.5 48.0 PAT margin %
-49 bps +352 bps
5.4% 1.9% 5.9% EPS (₹)
-8.8% +240.1%
14.59 4.29 15.99
Quality of profit
Pre-tax profit ₹57.0 Cr: core business ₹45.0 Cr, other income ₹11.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: -29.7%
· reported profit -2.1%
Cash & debt
FY26 cash from operations −₹149 Cr:
-141% of FY26 net profit of ₹106 Cr.
Borrowings ₹618 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹942 ₹873
-7.3% below Net profit ₹27.4 ₹47.0
+71.4% above
M Cap ₹3,458 Cr
P/E 12.6
PEG 0.45
Profit +46% above its own trend Operating margin expanded 757 bps YoY Core business grew faster than reported profit (core profit +201%) FY26 operating cash flow was only 48% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+48.8% +62.1%
934 576 628 Operating profit
+166.7% +78.2%
160 89.8 60.0 OPM %
+757 bps +155 bps
17.1% 15.6% 9.6% Other income
to loss to loss -8.0 5.8 16.1 Net profit?
+95.8% +53.2%
94.0 61.3 48.0 PAT margin %
+242 bps -58 bps
10.1% 10.6% 7.6% EPS (₹)
+77.0% +44.9%
6.62 4.57 3.74
Quality of profit
Pre-tax profit ₹136 Cr: core business ₹145 Cr, other income −₹8.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +200.9%
· reported profit +95.8%
Cash & debt
FY26 cash from operations ₹107 Cr:
48% of FY26 net profit of ₹221 Cr.
Borrowings ₹225 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹506 ₹934
+84.6% above Net profit ₹64.3 ₹94.0
+46.1% above
M Cap ₹3,427 Cr
P/E 16.2
PEG 5.39
Profit +26% above its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+2.2% +7.4%
860 801 841 Operating profit
+8.4% +16.9%
130 112 120 OPM %
+86 bps +124 bps
15.2% 13.9% 14.3% Other income
+83.8% +47.9%
1.5 1.0 0.8 Net profit
+23.7% +29.2%
57.4 44.4 46.4 PAT margin %
+116 bps +112 bps
6.7% 5.5% 5.5% EPS (₹)
+23.6% +29.1%
10.20 7.90 8.25
Quality of profit
Pre-tax profit ₹78.4 Cr: core business ₹76.9 Cr, other income ₹1.5 Cr.
Core profit YoY: +23.3%
· reported profit +23.7%
Cash & debt
FY26 cash from operations ₹411 Cr:
231% of FY26 net profit of ₹178 Cr.
Borrowings ₹1,124 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹817 ₹860
+5.2% above Net profit ₹45.6 ₹57.4
+25.9% above
M Cap ₹3,426 Cr
P/E 12.0
PEG 0.33
Profit +77% above its own trend Operating margin expanded 155 bps YoY Profit grew faster than the core business (core profit +55%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+10.0% -12.3%
935 1,066 850 Operating profit
+33.2% -38.8%
83.0 136 62.3 OPM %
+155 bps -385 bps
8.9% 12.7% 7.3% Other income
+57.1% +153.7%
13.0 5.1 8.3 Net profit?
+167.0% +1.3%
91.0 89.8 34.1 PAT margin %
+572 bps +131 bps
9.7% 8.4% 4.0% EPS (₹)
+166.3% +1.3%
5.46 5.39 2.05
Quality of profit
Pre-tax profit ₹64.0 Cr: core business ₹51.0 Cr, other income ₹13.0 Cr.
Core profit YoY: +54.6%
· reported profit +167.0%
Cash & debt
FY26 cash from operations ₹310 Cr:
116% of FY26 net profit of ₹266 Cr.
Borrowings ₹416 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹921 ₹935
+1.5% in line Net profit ₹51.5 ₹91.0
+76.7% above
M Cap ₹3,424 Cr
P/E 0.6
PEG —
Turnaround: profit against a loss a year ago Operating margin contracted 5436 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+22.0% +44.0%
250 174 205 Operating profit
loss widened loss widened -142 -48.6 -5.0 OPM %
-5436 bps -2879 bps
-56.8% -28.0% -2.4% Other income
— -35.3%
66.0 102 6.0 Net profit?
from loss -89.8%
514 5,023 -85.0 EPS (₹)
from loss -89.7%
85.69 834.39 -15.22
Quality of profit
Pre-tax profit −₹97.0 Cr: core business −₹162 Cr, other income ₹66.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: loss widened
Cash & debt
FY26 cash from operations ₹4,555 Cr:
82% of FY26 net profit of ₹5,567 Cr.
Borrowings ₹42.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹158 ₹250
+57.9% above
M Cap ₹3,416 Cr
P/E 11.7
PEG 2.92
Operating margin expanded 1491 bps YoY Core business grew faster than reported profit (core profit +154%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+51.9% +40.2%
689 492 454 Operating profit
+199.7% +142.6%
208 85.9 69.5 OPM %
+1491 bps +1276 bps
30.2% 17.5% 15.3% Other income
-3.5% +4.7%
9.5 9.1 9.8 Net profit?
+120.2% +93.7%
117 60.2 53.0 PAT margin %
+525 bps +468 bps
16.9% 12.2% 11.7% EPS (₹)
+119.5% +93.5%
6.87 3.55 3.13
Quality of profit
Pre-tax profit ₹155 Cr: core business ₹145 Cr, other income ₹9.5 Cr.
Core profit YoY: +153.6%
· reported profit +120.2%
M Cap ₹3,406 Cr
P/E 16.5
PEG 0.72
Profit +20% above its own trend Operating margin expanded 1034 bps YoY Core business grew faster than reported profit (core profit +74%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+9.0% +15.0%
273 237 251 Operating profit
+62.2% +55.0%
86.0 55.5 53.0 OPM %
+1034 bps +813 bps
31.5% 23.4% 21.2% Other income
-74.0% -84.5%
3.0 19.4 11.6 Net profit?
+42.2% +16.3%
59.0 50.7 41.5 PAT margin %
+505 bps +25 bps
21.6% 21.4% 16.6% EPS (₹)
+43.4% +17.1%
13.68 11.68 9.54
Quality of profit
Pre-tax profit ₹81.0 Cr: core business ₹79.0 Cr, other income ₹3.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +74.0%
· reported profit +42.2%
Cash & debt
FY26 cash from operations ₹133 Cr:
70% of FY26 net profit of ₹191 Cr.
Borrowings ₹8.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹285 ₹273
-4.3% in line Net profit ₹49.3 ₹59.0
+19.6% above
M Cap ₹3,387 Cr
P/E 34.1
PEG 0.64
Profit -15% below its own trend Operating margin expanded 319 bps YoY Core business grew faster than reported profit (core profit +58%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+16.0% +21.8%
239 196 206 Operating profit
+52.4% -3.0%
32.0 33.0 21.0 OPM %
+319 bps -342 bps
13.4% 16.8% 10.2% Other income
-80.0% -56.5%
1.0 2.3 5.0 Net profit
+14.3% -3.6%
24.0 24.9 21.0 PAT margin %
-15 bps -264 bps
10.0% 12.7% 10.2% EPS (₹)
+14.0% -4.0%
22.52 23.45 19.76
Quality of profit
Pre-tax profit ₹32.0 Cr: core business ₹30.0 Cr, other income ₹1.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +57.9%
· reported profit +14.3%
Cash & debt
FY26 cash from operations ₹57.0 Cr:
61% of FY26 net profit of ₹92.8 Cr.
Borrowings ₹5.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹250 ₹239
-4.5% in line Net profit ₹28.2 ₹24.0
-14.9% below
M Cap ₹3,354 Cr
P/E 8.7
PEG 0.67
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-2.9% +20.9%
1,585 1,311 1,633 Operating profit
-4.7% +19.2%
224 188 235 OPM %
-26 bps -20 bps
14.1% 14.3% 14.4% Other income
+11.0% +46.0%
33.0 22.6 29.7 Net profit?
-3.5% +33.2%
110 82.6 114 PAT margin %
-4 bps +64 bps
6.9% 6.3% 7.0% EPS (₹)
-4.0% +32.7%
14.49 10.92 15.09
Quality of profit
Pre-tax profit ₹149 Cr: core business ₹116 Cr, other income ₹33.0 Cr.
Core profit YoY: from loss
· reported profit -3.5%
Cash & debt
FY26 cash from operations ₹1,128 Cr:
292% of FY26 net profit of ₹387 Cr.
Borrowings ₹621 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,784 ₹1,585
-11.2% below Net profit ₹121 ₹110
-9.2% in line
M Cap ₹3,353 Cr
P/E 14.2
PEG 2.36
Profit -53% below its own trend 83% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -54%) Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-18.0% +40.8%
1,009 717 1,231 Operating profit
-19.4% +301.5%
71.0 17.7 88.1 OPM %
-12 bps +457 bps
7.0% 2.5% 7.2% Other income
— +338.7%
115 26.2 1.6 Net profit?
-6.3% from loss 103 -1.0 110 PAT margin %
+128 bps +1035 bps
10.2% -0.1% 8.9% EPS (₹)
-5.9% from loss 87.31 -0.88 92.77
Quality of profit
Pre-tax profit ₹138 Cr: core business ₹23.0 Cr, other income ₹115 Cr.
Core profit YoY: -53.8%
· reported profit -6.3%
Cash & debt
FY26 cash from operations −₹160 Cr:
-73% of FY26 net profit of ₹220 Cr.
Borrowings ₹1,435 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,208 ₹1,009
-16.5% below Net profit ₹219 ₹103
-52.9% below
M Cap ₹3,351 Cr
P/E 2986.1
PEG —
Turnaround: profit against a loss a year ago All of pre-tax profit came from other income or one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+260.0% +6.8%
1.4 1.3 0.4 Operating profit
loss narrowed loss narrowed -0.0 -0.2 -1.5 OPM %
— +1108 bps
-2.1% -13.2% — Other income
-52.5% -84.1%
0.2 1.2 0.4 Net profit
from loss -88.7%
0.1 0.9 -0.8 PAT margin %
— -5886 bps
6.9% 65.8% — EPS (₹)
from loss -85.7%
0.01 0.07 -0.04
Quality of profit
Pre-tax profit ₹0.1 Cr: core business −₹0.1 Cr, other income ₹0.2 Cr.
Core profit YoY: loss narrowed
Operating margin expanded 1225 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+9.1% +50.4%
1,256 835 1,151 Operating profit
+428.2% from loss 194 -56.8 36.7 OPM %
+1225 bps +2224 bps
15.4% -6.8% 3.2% Other income
to loss to loss -143 5.4 13.9 Net profit?
loss narrowed loss narrowed -45.0 -119 -54.2 PAT margin %
+112 bps +1069 bps
-3.6% -14.3% -4.7% EPS (₹)
loss narrowed loss narrowed -2.87 -7.45 -3.39
Quality of profit
Pre-tax profit −₹61.0 Cr: core business ₹81.0 Cr, other income −₹143 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: from loss
Cash & debt
FY26 cash from operations ₹294 Cr.
Borrowings ₹1,952 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,152 ₹1,256
+9.1% above
M Cap ₹3,321 Cr
P/E 36.0
PEG —
Profit +240% above its own trend Profit grew faster than the core business (core profit +138%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+19.9% +7.0%
981 917 818 Operating profit
+29.9% +11.5%
87.0 78.0 67.0 OPM %
+68 bps +36 bps
8.9% 8.5% 8.2% Other income
from loss from loss 10.0 -13.0 -3.0 Net profit?
+273.1% +222.0%
36.0 11.2 9.7 PAT margin %
+249 bps +245 bps
3.7% 1.2% 1.2% EPS (₹)
+276.4% +223.7%
47.13 14.56 12.52
Quality of profit
Pre-tax profit ₹48.0 Cr: core business ₹38.0 Cr, other income ₹10.0 Cr.
Core profit YoY: +137.5%
· reported profit +273.1%
Cash & debt
FY26 cash from operations ₹297 Cr:
418% of FY26 net profit of ₹71.0 Cr.
Borrowings ₹767 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹888 ₹981
+10.5% above Net profit ₹10.6 ₹36.0
+240.4% above
M Cap ₹3,309 Cr
P/E 16.6
PEG —
Operating margin contracted 180 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+31.3% +48.7%
351 236 267 Operating profit
+25.3% +57.6%
134 85.0 107 OPM %
-180 bps +216 bps
38.2% 36.0% 40.0% Other income
+38.3% from loss 9.0 -3.0 6.5 Net profit?
+28.2% +137.9%
69.0 29.0 53.8 PAT margin %
-47 bps +737 bps
19.7% 12.3% 20.1% EPS (₹)
+27.8% +137.3%
7.95 3.35 6.22
Quality of profit
Pre-tax profit ₹95.0 Cr: core business ₹85.0 Cr, other income ₹9.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +24.7%
· reported profit +28.2%
Against its own trend ?
Trend Actual Gap
Sales ₹396 ₹351
-11.4% below
M Cap ₹3,305 Cr
P/E 25.1
PEG 0.70
Profit +14% above its own trend Operating margin expanded 103 bps YoY Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+78.5% +19.9%
935 780 524 Operating profit
+113.5% +3.5%
59.0 57.0 27.6 OPM %
+103 bps -100 bps
6.3% 7.3% 5.3% Other income
from loss +0.0%
1.0 1.0 -0.2 Net profit?
+128.8% +8.6%
38.0 35.0 16.6 PAT margin %
+89 bps -42 bps
4.1% 4.5% 3.2% EPS (₹)
+108.1% +6.3%
12.30 11.57 5.91
Quality of profit
Pre-tax profit ₹50.0 Cr: core business ₹49.0 Cr, other income ₹1.0 Cr.
Core profit YoY: +132.3%
· reported profit +128.8%
Cash & debt
FY26 cash from operations −₹44.0 Cr:
-33% of FY26 net profit of ₹132 Cr.
Borrowings ₹152 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹734 ₹935
+27.3% above Net profit ₹33.2 ₹38.0
+14.4% above
M Cap ₹3,285 Cr
P/E 15.9
PEG 0.51
Profit grew faster than the core business (core profit -5%) FY26 operating cash flow was only 26% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+5.8% -6.7%
346 371 327 Operating profit
+1.6% -10.7%
67.0 75.0 65.9 OPM %
-80 bps -85 bps
19.4% 20.2% 20.2% Other income
+252.9% from loss 15.0 -7.0 4.2 Net profit?
+19.6% +38.6%
61.0 44.0 51.0 PAT margin %
+203 bps +577 bps
17.6% 11.9% 15.6% EPS (₹)
+22.0% +45.9%
11.13 7.63 9.12
Quality of profit
Pre-tax profit ₹67.0 Cr: core business ₹52.0 Cr, other income ₹15.0 Cr.
Core profit YoY: -5.0%
· reported profit +19.6%
Cash & debt
FY26 cash from operations ₹56.0 Cr:
26% of FY26 net profit of ₹212 Cr.
Borrowings ₹61.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹421 ₹346
-17.8% below Net profit ₹59.9 ₹61.0
+1.8% in line
M Cap ₹3,281 Cr
P/E 26.9
PEG 8.96
Profit +222% above its own trend Operating margin expanded 457 bps YoY Core business grew faster than reported profit (core profit +262%) Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+47.6% +47.3%
693 471 469 Operating profit
+225.5% +50.2%
58.0 38.6 17.8 OPM %
+457 bps +16 bps
8.4% 8.2% 3.8% Other income
-88.7% -72.6%
1.0 3.6 8.8 Net profit?
+125.8% +43.5%
38.0 26.5 16.8 PAT margin %
+190 bps -15 bps
5.5% 5.6% 3.6% EPS (₹)
+109.3% +34.3%
0.90 0.67 0.43
Quality of profit
Pre-tax profit ₹50.0 Cr: core business ₹49.0 Cr, other income ₹1.0 Cr.
Core profit YoY: +261.9%
· reported profit +125.8%
Cash & debt
FY26 cash from operations −₹67.0 Cr:
-65% of FY26 net profit of ₹103 Cr.
Borrowings ₹244 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹481 ₹693
+44.0% above Net profit ₹11.8 ₹38.0
+222.3% above
M Cap ₹3,274 Cr
P/E 46.5
PEG 1.37
Profit -37% below its own trend Operating margin contracted 319 bps YoY 53% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -52%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+5.1% -16.2%
284 339 270 Operating profit
-19.3% -43.3%
30.0 52.9 37.2 OPM %
-319 bps -505 bps
10.6% 15.6% 13.8% Other income
+246.3% +23.8%
8.0 6.5 2.3 Net profit?
-1.3% -54.1%
11.0 24.0 11.1 PAT margin %
-25 bps -320 bps
3.9% 7.1% 4.1% EPS (₹)
-4.3% -55.5%
0.89 2.00 0.93
Quality of profit
Pre-tax profit ₹15.0 Cr: core business ₹7.0 Cr, other income ₹8.0 Cr.
Core profit YoY: -52.1%
· reported profit -1.3%
Cash & debt
FY26 cash from operations ₹119 Cr:
159% of FY26 net profit of ₹75.1 Cr.
Borrowings ₹148 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹304 ₹284
-6.7% below Net profit ₹17.5 ₹11.0
-37.1% below
Into loss: a profit a year ago Profit -999% below its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Total income
-7.2% +0.3%
347 346 374 Net interest income
+20.1% +2.9%
215 209 179 Other income
-100.0% —
0.0 0.0 2.0 Net profit
to loss to loss -424 8.0 12.0 EPS (₹)
to loss to loss -26.25 0.51 0.91
Against its own trend ?
Trend Actual Gap
NII ₹206 ₹215
+4.2% in line Net profit ₹8.0 −₹424
-999.0% below
M Cap ₹3,226 Cr
P/E 39.5
PEG —
Profit +109% above its own trend Operating margin expanded 917 bps YoY 45% of pre-tax profit came from other income and one-off items Exceptional items of ₹-3.6 Cr in the quarter Core business grew faster than reported profit (core profit +205%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+40.4% +1.0%
136 135 96.8 Operating profit
+103.5% -0.1%
40.2 40.2 19.7 OPM %
+917 bps -33 bps
29.6% 29.9% 20.4% Other income
-42.6% -10.4%
6.2 6.9 10.8 Net profit
+49.2% +13.4%
16.4 14.5 11.0 PAT margin %
+71 bps +132 bps
12.1% 10.8% 11.4% EPS (₹)
+48.9% +13.6%
2.59 2.28 1.74
Quality of profit
Pre-tax profit ₹22.0 Cr: core business ₹12.2 Cr, other income ₹6.2 Cr, exceptional & other items ₹3.6 Cr.
Core profit YoY: +205.3%
· reported profit +49.2%
Cash & debt
FY26 cash from operations ₹135 Cr:
165% of FY26 net profit of ₹81.7 Cr.
Borrowings ₹6.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹101 ₹136
+35.0% above Net profit ₹7.9 ₹16.4
+109.1% above
M Cap ₹3,218 Cr
P/E 16.9
PEG 0.33
Profit -46% below its own trend Operating margin contracted 657 bps YoY Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+8.7% +70.8%
427 250 393 Operating profit
-19.5% +17.6%
80.0 68.0 99.4 OPM %
-657 bps -846 bps
18.7% 27.2% 25.3% Other income
+2.3% +37.5%
11.0 8.0 10.8 Net profit?
-27.1% +28.6%
54.0 42.0 74.1 PAT margin %
-621 bps -415 bps
12.6% 16.8% 18.9% EPS (₹)
-39.5% +28.7%
2.96 2.30 4.89
Quality of profit
Pre-tax profit ₹71.0 Cr: core business ₹59.0 Cr, other income ₹11.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: -33.4%
· reported profit -27.1%
Cash & debt
FY26 cash from operations −₹63.0 Cr:
-34% of FY26 net profit of ₹188 Cr.
Borrowings ₹422 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹441 ₹427
-3.1% in line Net profit ₹99.1 ₹54.0
-45.5% below
₹ Cr
Mar 2026
Sales
196 Operating profit
107 OPM %
54.6% Other income
18.0 Net profit?
63.0 PAT margin %
32.1% EPS (₹)
2.53
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 ₹104 Cr: core business ₹86.0 Cr, other income ₹18.0 Cr.
M Cap ₹3,213 Cr
P/E 5.6
PEG —
Profit +334% above its own trend Operating margin contracted 578 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
+8.2% +2.1%
345 338 319 Operating profit
-8.2% -8.2%
112 122 122 OPM %
-578 bps -363 bps
32.5% 36.1% 38.2% Other income
from loss —
33.0 3.0 -15.0 Net profit?
+767.4% +731.2%
399 48.0 46.0 EPS (₹)
+669.1% +789.4%
15.92 1.79 2.07
Quality of profit
Pre-tax profit ₹69.0 Cr: core business ₹37.0 Cr, other income ₹33.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: from loss
· reported profit +767.4%
Against its own trend ?
Trend Actual Gap
Sales ₹365 ₹345
-5.4% below Net profit ₹92.0 ₹399
+333.7% above
M Cap ₹3,212 Cr
P/E 15.4
PEG —
Profit +26% above its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+28.9% +10.3%
1,307 1,185 1,014 Operating profit
+24.3% +19.3%
129 108 104 OPM %
-37 bps +74 bps
9.9% 9.1% 10.2% Other income
+239.0% +548.3%
18.0 2.8 5.3 Net profit?
+50.2% +91.3%
64.0 33.4 42.6 PAT margin %
+69 bps +207 bps
4.9% 2.8% 4.2% EPS (₹)
+49.7% +90.6%
10.60 5.56 7.08
Quality of profit
Pre-tax profit ₹79.0 Cr: core business ₹61.0 Cr, other income ₹18.0 Cr.
Core profit YoY: +34.8%
· reported profit +50.2%
Against its own trend ?
Trend Actual Gap
Sales ₹1,223 ₹1,307
+6.9% above Net profit ₹50.6 ₹64.0
+26.4% above
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+8.3% +0.0%
0.3 0.3 0.2 Operating profit
loss narrowed loss narrowed -2.3 -2.4 -3.1 Other income
-64.0% -51.5%
0.6 1.3 1.8 Net profit
loss widened loss narrowed -1.7 -3.2 -1.1 EPS (₹)
loss widened loss narrowed -0.06 -0.11 -0.04
Quality of profit
Pre-tax profit −₹4.1 Cr: core business −₹4.7 Cr, other income ₹0.6 Cr.
Core profit YoY: loss widened
Cash & debt
FY26 cash from operations −₹151 Cr.
Borrowings ₹87.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹0.3 ₹0.3
-4.8% 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 14 Oct 2026, 01:16 IST
