Home › Quarterly results › Q4 FY26
Q4 FY26 quarterly results (January-March 2026)
5,115 companies have declared Q4 FY26 results so far, the latest on 12 Oct 2026.
Across the 4,645 non-financial companies with a year-ago quarter to compare, sales grew +12.4% and net profit +34.1% year on year, and the combined operating margin widened 10 bps to 14.3%.
For the 120 banks and lenders, net interest income grew +9.1% and net profit +11.1%.
55% of companies grew net profit; 472 turned a loss into a profit; 38% beat their own profit trend and 48% fell short of it.
5115 declared
Latest results
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The next results season has started: 45 companies have filed results for the quarter ended 30 Sep 2026.
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Sales growth
+12.4%
YoY, 4645 companies combined; median +11.7%
Net profit growth
+34.1%
YoY combined; median +16.1%
Operating margin
14.3%
+10 bps YoY
Grew profit
55%
472 turnarounds, 495 into loss
Vs own profit trend
38% / 48%
above / below, 14% in line
Banks: NII growth
+9.1%
120 lenders; profit +11.1%
Price since results
-3.9%
median; 31% of 35 stocks up
Other-income heavy
1375
25%+ of pre-tax profit from other income & one-offs
Filters & sorting
Results by sector
Latest Q4 FY26 results 5115
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M Cap ₹2,899 Cr
P/E 28.2
PEG —
Profit +133% above its own trend Operating margin expanded 530 bps YoY Core business grew faster than reported profit (core profit +188%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+18.1% +48.3%
850 573 720 Operating profit
+100.0% +292.9%
110 28.0 55.0 OPM %
+530 bps +805 bps
12.9% 4.9% 7.6% Other income
-16.7% —
5.0 0.0 6.0 Net profit
+133.3% from loss 56.0 -2.0 24.0 PAT margin %
+325 bps +694 bps
6.6% -0.3% 3.3% EPS (₹)
+132.0% from loss 5.08 -0.22 2.19
Quality of profit
Pre-tax profit ₹76.0 Cr: core business ₹72.0 Cr, other income ₹5.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +188.0%
· reported profit +133.3%
Cash & debt
FY26 cash from operations ₹526 Cr:
522% of FY26 net profit of ₹101 Cr.
Borrowings ₹145 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹707 ₹850
+20.2% above Net profit ₹24.0 ₹56.0
+133.3% above
M Cap ₹2,892 Cr
P/E 62.6
PEG 1.10
Operating margin contracted 126 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+34.9% +0.0%
466 466 345 Operating profit
+20.3% -46.1%
48.0 89.0 39.9 OPM %
-126 bps -880 bps
10.3% 19.1% 11.6% Other income
to loss to loss -19.0 1.0 1.8 Net profit
loss widened to loss -26.0 19.0 -6.4 PAT margin %
-373 bps -966 bps
-5.6% 4.1% -1.9% EPS (₹)
loss widened to loss -3.44 2.54 -0.86
Quality of profit
Pre-tax profit −₹36.0 Cr: core business −₹18.0 Cr, other income −₹19.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: loss widened
Cash & debt
FY26 cash from operations ₹126 Cr:
274% of FY26 net profit of ₹46.1 Cr.
Borrowings ₹995 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹504 ₹466
-7.5% below
M Cap ₹2,890 Cr
P/E 11.8
PEG 11.80
Turnaround: profit against a loss a year ago Gross NPA down 95 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Total income
+14.9% +5.4%
639 606 556 Net interest income
+20.1% +5.0%
400 381 333 Other income
+600.0% +133.3%
7.0 3.0 1.0 Net profit
from loss +14.5%
71.0 62.0 -401 EPS (₹)
from loss +13.9%
4.17 3.66 -23.53 Gross NPA %
-95 bps -51 bps
3.9% 4.4% 4.8% Net NPA %
-20 bps -20 bps
1.1% 1.3% 1.3%
Against its own trend ?
Trend Actual Gap
NII ₹278 ₹400
+43.7% above
M Cap ₹2,885 Cr
P/E 21.7
PEG 0.50
Profit +28% above its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+36.6% +6.6%
607 570 444 Operating profit
+39.1% +14.1%
63.0 55.2 45.3 OPM %
+18 bps +68 bps
10.4% 9.7% 10.2% Other income
+122.4% +11.5%
8.0 7.2 3.6 Net profit?
+77.0% +49.6%
42.0 28.1 23.7 PAT margin %
+158 bps +199 bps
6.9% 4.9% 5.3% EPS (₹)
+75.8% +48.4%
7.33 4.94 4.17
Quality of profit
Pre-tax profit ₹55.0 Cr: core business ₹47.0 Cr, other income ₹8.0 Cr.
Core profit YoY: +65.2%
· reported profit +77.0%
Cash & debt
FY26 cash from operations ₹135 Cr:
103% of FY26 net profit of ₹131 Cr.
Borrowings ₹155 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹533 ₹607
+13.9% above Net profit ₹32.7 ₹42.0
+28.3% above
M Cap ₹2,884 Cr
P/E 22.2
PEG —
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+21.9% +7.5%
485 451 398 Operating profit
+22.2% -10.8%
33.0 37.0 27.0 OPM %
+2 bps -140 bps
6.8% 8.2% 6.8% Other income
-100.0% loss narrowed 0.0 -2.0 1.0 Net profit?
+25.0% -9.1%
20.0 22.0 16.0 PAT margin %
+10 bps -75 bps
4.1% 4.9% 4.0% EPS (₹)
+23.7% -7.5%
13.15 14.21 10.63
Quality of profit
Pre-tax profit ₹27.0 Cr: core business ₹26.0 Cr, other income ₹0.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +23.8%
· reported profit +25.0%
M Cap ₹2,876 Cr
P/E 726.1
PEG 242.05
Into loss: a profit 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
+15.2% +6.2%
2,927 2,756 2,541 Operating profit
+9.7% +12.2%
367 327 335 OPM %
-63 bps +67 bps
12.5% 11.9% 13.2% Other income
+541.2% from loss 74.0 -95.0 11.5 Net profit?
to loss loss narrowed -72.0 -136 12.3 PAT margin %
-294 bps +247 bps
-2.5% -4.9% 0.5% EPS (₹)
loss widened loss narrowed -17.38 -33.71 -3.96
Quality of profit
Pre-tax profit ₹61.0 Cr: core business −₹14.0 Cr, other income ₹74.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: to loss
Cash & debt
FY26 cash from operations ₹1,233 Cr:
62908% of FY26 net profit of ₹2.0 Cr.
Borrowings ₹8,243 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹3,164 ₹2,927
-7.5% below
M Cap ₹2,874 Cr
P/E 104.4
PEG —
Turnaround: profit against a loss a year ago Operating margin expanded 733 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+28.9% +38.7%
158 114 123 Operating profit
+219.7% +42.1%
19.4 13.7 6.1 OPM %
+733 bps +30 bps
12.3% 12.0% 5.0% Other income
-49.1% +13.6%
0.7 0.6 1.3 Net profit?
from loss -11.9%
4.1 4.6 -0.9 PAT margin %
+330 bps -148 bps
2.6% 4.1% -0.7% EPS (₹)
from loss -13.9%
0.31 0.36 -0.08
Quality of profit
Pre-tax profit ₹4.8 Cr: core business ₹4.1 Cr, other income ₹0.7 Cr.
Core profit YoY: +345.4%
Cash & debt
FY26 cash from operations ₹12.0 Cr:
66% of FY26 net profit of ₹18.2 Cr.
Borrowings ₹235 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹136 ₹158
+16.1% above
Profit +11% above its own trend Operating margin expanded 266 bps YoY Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+22.7% -7.4%
249 269 203 Operating profit
+30.2% +295.5%
115 29.0 88.1 OPM %
+266 bps +3528 bps
46.1% 10.8% 43.4% Other income
+210.1% —
7.2 0.0 2.3 Net profit
+54.5% +0.0%
17.0 17.0 11.0 PAT margin %
+141 bps +51 bps
6.8% 6.3% 5.4% EPS (₹)
+23.8% +0.4%
2.50 2.49 2.02
Quality of profit
Pre-tax profit ₹76.0 Cr: core business ₹68.8 Cr, other income ₹7.2 Cr.
Core profit YoY: +17.9%
· reported profit +54.5%
Cash & debt
FY26 cash from operations −₹48.0 Cr:
-75% of FY26 net profit of ₹64.0 Cr.
Borrowings ₹335 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹258 ₹249
-3.5% in line Net profit ₹15.4 ₹17.0
+10.6% above
M Cap ₹2,859 Cr
P/E 70.2
PEG —
Profit -59% below its own trend Operating margin contracted 465 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+17.4% +19.9%
392 327 334 Operating profit
-17.6% +103.0%
42.8 21.1 52.0 OPM %
-465 bps +447 bps
10.9% 6.5% 15.6% Other income
-50.7% -68.2%
1.1 3.5 2.3 Net profit?
-36.3% +338.0%
20.1 4.6 31.6 PAT margin %
-434 bps +373 bps
5.1% 1.4% 9.5% EPS (₹)
-11.1% +546.3%
2.65 0.41 2.98
Quality of profit
Pre-tax profit ₹25.2 Cr: core business ₹24.6 Cr, other income ₹1.1 Cr.
Core profit YoY: -29.7%
· reported profit -36.3%
Cash & debt
FY26 cash from operations ₹161 Cr:
285% of FY26 net profit of ₹56.6 Cr.
Borrowings ₹348 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹444 ₹392
-11.9% below Net profit ₹48.7 ₹20.1
-58.6% below
M Cap ₹2,857 Cr
P/E 9.1
PEG —
Profit +66% above its own trend Operating margin contracted 896 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+131.8% +53.6%
401 261 173 Operating profit
+86.0% +37.7%
146 106 78.5 OPM %
-896 bps -420 bps
36.4% 40.6% 45.4% Other income
+466.0% from loss 6.0 -3.0 1.1 Net profit
+156.9% +90.8%
124 65.0 48.3 PAT margin %
+302 bps +602 bps
30.9% 24.9% 27.9% EPS (₹)
+150.9% +86.4%
2.87 1.54 adj. 1.14
EPS restated for the ₹10 to ₹1 split of Nov 2025: Mar 2025 ₹11.44 to ₹1.14.
Quality of profit
Pre-tax profit ₹125 Cr: core business ₹118 Cr, other income ₹6.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +82.0%
· reported profit +156.9%
Cash & debt
FY26 cash from operations ₹255 Cr:
84% of FY26 net profit of ₹302 Cr.
Borrowings ₹131 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹323 ₹401
+24.3% above Net profit ₹74.7 ₹124
+66.0% above
M Cap ₹2,850 Cr
P/E 14.3
PEG —
Turnaround: profit against a loss a year ago Operating margin expanded 3369 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
+458.1% +2.0%
61.2 60.0 11.0 Operating profit
loss widened to loss -6.0 12.0 -4.8 OPM %
+3369 bps -2993 bps
-9.9% 20.1% -43.6% Other income
— —
191 6.3 5.6 Net profit?
from loss —
180 6.8 -4.4 EPS (₹)
from loss —
13.06 0.53 -0.49
Quality of profit
Pre-tax profit ₹179 Cr: core business −₹11.9 Cr, other income ₹191 Cr.
Core profit YoY: loss widened
Against its own trend ?
Trend Actual Gap
Sales ₹13.2 ₹61.2
+362.8% above
M Cap ₹2,835 Cr
P/E 24.3
PEG 2.03
Profit -48% below its own trend Operating margin contracted 125 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+5.6% +12.5%
646 574 612 Operating profit
-3.3% +66.0%
88.0 53.0 91.0 OPM %
-125 bps +439 bps
13.6% 9.2% 14.9% Other income
-63.6% +300.0%
4.0 1.0 11.0 Net profit
-10.0% +181.2%
45.0 16.0 50.0 PAT margin %
-120 bps +418 bps
7.0% 2.8% 8.2% EPS (₹)
-10.3% +189.9%
2.00 0.69 2.23
Quality of profit
Pre-tax profit ₹63.0 Cr: core business ₹60.0 Cr, other income ₹4.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +1.7%
· reported profit -10.0%
Cash & debt
FY26 cash from operations ₹198 Cr:
148% of FY26 net profit of ₹134 Cr.
Borrowings ₹14.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹663 ₹646
-2.6% in line Net profit ₹86.8 ₹45.0
-48.2% below
Operating margin contracted 8646 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-52.5% +81.6%
675 372 1,420 Operating profit
to loss loss widened -557 -77.3 56.0 OPM %
-8646 bps -6171 bps
-82.5% -20.8% 3.9% Other income
loss widened to loss -760 74.6 -101 Net profit?
loss widened loss widened -988 -96.9 -179 EPS (₹)
loss widened loss widened -225.51 -22.13 -40.87
Quality of profit
Pre-tax profit −₹1,356 Cr: core business −₹597 Cr, other income −₹760 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: loss widened
Cash & debt
Borrowings ₹3,444 Cr at Sep 2025, against ₹4,420 Cr at Mar 2025 (-22% ).
Against its own trend ?
Trend Actual Gap
Sales ₹846 ₹675
-20.2% below
M Cap ₹2,817 Cr
P/E 15.1
PEG 0.16
Profit +189% above its own trend Operating margin expanded 310 bps YoY Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+121.9% +3.5%
659 637 297 Operating profit
+219.0% +11.7%
67.0 60.0 21.0 OPM %
+310 bps +75 bps
10.2% 9.4% 7.1% Other income
+200.0% +0.0%
3.0 3.0 1.0 Net profit
+477.8% +30.0%
52.0 40.0 9.0 PAT margin %
+486 bps +161 bps
7.9% 6.3% 3.0% EPS (₹)
+323.5% +29.3%
7.20 5.57 1.70
Quality of profit
Pre-tax profit ₹64.0 Cr: core business ₹61.0 Cr, other income ₹3.0 Cr.
Core profit YoY: +335.7%
· reported profit +477.8%
Cash & debt
FY26 cash from operations −₹261 Cr:
-162% of FY26 net profit of ₹161 Cr.
Borrowings ₹216 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹480 ₹659
+37.3% above Net profit ₹18.0 ₹52.0
+188.9% above
₹ Cr
Mar 2026
Sales
138 Operating profit
26.0 OPM %
18.8% Other income
1.0 Net profit
14.0 PAT margin %
10.1% EPS (₹)
0.62
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 ₹18.0 Cr: core business ₹17.0 Cr, other income ₹1.0 Cr.
M Cap ₹2,793 Cr
P/E 5464.5
PEG —
Profit +27% above its own trend All of pre-tax profit came from other income or one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-13.9% +8.9%
120 110 140 Operating profit
-33.8% +97.3%
2.9 1.5 4.4 OPM %
-74 bps +110 bps
2.4% 1.4% 3.2% Other income
+119.1% —
16.8 1.4 7.7 Net profit?
-36.3% from loss 6.9 -5.0 10.8 PAT margin %
-202 bps +1026 bps
5.7% -4.5% 7.8% EPS (₹)
-36.5% from loss 1.97 -1.42 3.10
Quality of profit
Pre-tax profit ₹8.8 Cr: core business −₹8.1 Cr, other income ₹16.8 Cr.
Core profit YoY: loss widened
· reported profit -36.3%
Cash & debt
FY26 cash from operations ₹9.0 Cr.
Borrowings ₹145 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹132 ₹120
-8.7% below Net profit ₹5.4 ₹6.9
+27.5% above
M Cap ₹2,785 Cr
P/E 17.3
PEG 2.16
Profit +12% above its own trend Operating margin expanded 108 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+12.5% +7.6%
324 301 288 Operating profit
+19.2% -1.6%
62.0 63.0 52.0 OPM %
+108 bps -179 bps
19.1% 20.9% 18.1% Other income
-100.0% -100.0%
0.0 3.0 3.0 Net profit?
+16.7% -7.9%
35.0 38.0 30.0 PAT margin %
+39 bps -182 bps
10.8% 12.6% 10.4% EPS (₹)
+6.3% -9.2%
5.03 5.54 4.73
Quality of profit
Pre-tax profit ₹47.0 Cr: core business ₹47.0 Cr, other income ₹0.0 Cr.
Core profit YoY: +23.7%
· reported profit +16.7%
Cash & debt
FY26 cash from operations ₹183 Cr:
120% of FY26 net profit of ₹152 Cr.
Borrowings ₹128 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹359 ₹324
-9.7% below Net profit ₹31.2 ₹35.0
+12.3% above
M Cap ₹2,774 Cr
P/E 14.8
PEG 0.26
Profit +134% above its own trend Operating margin expanded 1721 bps YoY Profit grew faster than the core business (core profit +80%) Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-4.9% -6.6%
155 166 163 Operating profit
+73.5% +40.5%
59.0 42.0 34.0 OPM %
+1721 bps +1276 bps
38.1% 25.3% 20.9% Other income
-27.3% +100.0%
8.0 4.0 11.0 Net profit?
+100.0% +51.7%
44.0 29.0 22.0 PAT margin %
+1489 bps +1092 bps
28.4% 17.5% 13.5% EPS (₹)
+119.8% +47.2%
9.23 6.27 4.20
Quality of profit
Pre-tax profit ₹54.0 Cr: core business ₹45.0 Cr, other income ₹8.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +80.0%
· reported profit +100.0%
Cash & debt
FY26 cash from operations −₹170 Cr:
-165% of FY26 net profit of ₹103 Cr.
Borrowings ₹583 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹176 ₹155
-11.8% below Net profit ₹18.8 ₹44.0
+134.2% above
M Cap ₹2,770 Cr
P/E 20.0
PEG 4.01
Profit +11% above its own trend Operating margin contracted 197 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+31.5% -12.8%
1,216 1,394 925 Operating profit
+5.0% +10.4%
95.0 86.1 90.5 OPM %
-197 bps +164 bps
7.8% 6.2% 9.8% Other income
-13.3% -31.6%
6.0 8.8 6.9 Net profit?
+24.5% +59.8%
34.0 21.3 27.3 PAT margin %
-16 bps +127 bps
2.8% 1.5% 3.0% EPS (₹)
+36.2% +49.2%
0.94 0.63 0.69
Quality of profit
Pre-tax profit ₹43.0 Cr: core business ₹36.0 Cr, other income ₹6.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +36.2%
· reported profit +24.5%
Cash & debt
FY26 cash from operations ₹400 Cr:
416% of FY26 net profit of ₹96.1 Cr.
Borrowings ₹761 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,339 ₹1,216
-9.2% below Net profit ₹30.8 ₹34.0
+10.5% above
M Cap ₹2,761 Cr
P/E 12.6
PEG —
Operating margin expanded 517 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+15.0% +40.7%
392 279 341 Operating profit
+46.2% +43.8%
95.0 66.0 65.0 OPM %
+517 bps +53 bps
24.2% 23.7% 19.1% Other income
-22.2% +2.6%
7.0 6.8 9.0 Net profit?
+48.0% +46.5%
74.0 50.5 50.0 PAT margin %
+421 bps +74 bps
18.9% 18.1% 14.7% EPS (₹)
+50.5% +50.5%
4.29 2.85 2.85
Quality of profit
Pre-tax profit ₹93.0 Cr: core business ₹86.0 Cr, other income ₹7.0 Cr.
Core profit YoY: +59.3%
· reported profit +48.0%
M Cap ₹2,758 Cr
P/E 10.8
PEG 3.59
Profit +84% above its own trend Operating margin contracted 198 bps YoY 35% of pre-tax profit came from other income and one-off items Exceptional items of ₹28.6 Cr in the quarter Profit grew faster than the core business (core profit +7%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+22.2% +5.1%
525 500 430 Operating profit
+9.3% -9.2%
87.6 96.5 80.2 OPM %
-198 bps -263 bps
16.7% 19.3% 18.7% Other income
-67.3% -60.3%
4.1 10.4 12.6 Net profit?
+58.3% +3.7%
77.1 74.3 48.7 PAT margin %
+335 bps -20 bps
14.7% 14.9% 11.3% EPS (₹)
+56.7% +3.5%
5.61 5.42 3.58
Quality of profit
Pre-tax profit ₹94.0 Cr: core business ₹61.3 Cr, other income ₹4.1 Cr, exceptional & other items ₹28.6 Cr.
Core profit YoY: +6.7%
· reported profit +58.3%
Cash & debt
FY26 cash from operations ₹288 Cr:
116% of FY26 net profit of ₹248 Cr.
Borrowings ₹318 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹494 ₹525
+6.2% above Net profit ₹41.9 ₹77.1
+84.2% above
M Cap ₹2,750 Cr
P/E 33.7
PEG 0.46
Profit -50% below its own trend Operating margin expanded 858 bps YoY 28% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -41%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-16.4% +4.6%
133 127 159 Operating profit
+25.9% +5.3%
34.0 32.3 27.0 OPM %
+858 bps +17 bps
25.6% 25.4% 17.0% Other income
from loss +7.2%
5.0 4.7 -9.0 Net profit?
+0.0% -11.2%
13.0 14.6 13.0 PAT margin %
+160 bps -174 bps
9.8% 11.5% 8.2% EPS (₹)
-1.5% -20.0%
0.64 0.80 0.65
Quality of profit
Pre-tax profit ₹18.0 Cr: core business ₹13.0 Cr, other income ₹5.0 Cr.
Core profit YoY: -40.9%
· reported profit +0.0%
Cash & debt
FY26 cash from operations ₹172 Cr:
211% of FY26 net profit of ₹81.6 Cr.
Borrowings ₹502 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹318 ₹133
-58.2% below Net profit ₹26.0 ₹13.0
-50.0% below
M Cap ₹2,745 Cr
P/E 10.3
PEG —
Profit +161% above its own trend Operating margin expanded 164 bps YoY Profit grew faster than the core business (core profit +21%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-3.7% +2.2%
1,131 1,107 1,175 Operating profit
+11.5% -6.8%
136 146 122 OPM %
+164 bps -116 bps
12.0% 13.2% 10.4% Other income
from loss +115.4%
28.0 13.0 -13.0 Net profit?
+90.0% +10.7%
114 103 60.0 PAT margin %
+497 bps +78 bps
10.1% 9.3% 5.1% EPS (₹)
+93.2% +11.9%
17.35 15.51 8.98
Quality of profit
Pre-tax profit ₹139 Cr: core business ₹111 Cr, other income ₹28.0 Cr.
Core profit YoY: +20.7%
· reported profit +90.0%
Cash & debt
FY26 cash from operations ₹581 Cr:
226% of FY26 net profit of ₹257 Cr.
Borrowings ₹42.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,150 ₹1,131
-1.7% in line Net profit ₹43.6 ₹114
+161.4% above
M Cap ₹2,734 Cr
P/E 41.4
PEG —
Profit +42% above its own trend Operating margin contracted 364 bps YoY 67% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -67%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-2.9% +4.5%
330 316 340 Operating profit
-38.2% -21.7%
21.0 26.8 34.0 OPM %
-364 bps -213 bps
6.4% 8.5% 10.0% Other income
+133.3% +125.8%
14.0 6.2 6.0 Net profit?
-19.0% +83.8%
17.0 9.2 21.0 PAT margin %
-102 bps +222 bps
5.2% 2.9% 6.2% EPS (₹)
-17.7% +85.5%
1.02 0.55 1.24
Quality of profit
Pre-tax profit ₹21.0 Cr: core business ₹7.0 Cr, other income ₹14.0 Cr.
Core profit YoY: -66.7%
· reported profit -19.0%
Against its own trend ?
Trend Actual Gap
Sales ₹316 ₹330
+4.5% in line Net profit ₹11.9 ₹17.0
+42.3% above
M Cap ₹2,725 Cr
P/E 71.7
PEG —
Profit +175% above its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Total income
+58.5% +22.6%
65.0 53.0 41.0 Net interest income
+50.0% +22.7%
27.0 22.0 18.0 Other income
— —
0.0 0.0 0.0 Net profit
+175.0% +57.1%
11.0 7.0 4.0 EPS (₹)
+166.7% +60.0%
0.64 0.40 0.24
Against its own trend ?
Trend Actual Gap
NII ₹23.0 ₹27.0
+17.5% above Net profit ₹4.0 ₹11.0
+175.0% above
M Cap ₹2,723 Cr
P/E 12.7
PEG 0.51
FY26 operating cash flow was only 42% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+3.9% +4.5%
766 733 737 Operating profit
-2.6% -2.6%
74.0 76.0 76.0 OPM %
-65 bps -71 bps
9.7% 10.4% 10.3% Other income
+300.0% +200.0%
12.0 4.0 3.0 Net profit
+5.8% +14.6%
55.0 48.0 52.0 PAT margin %
+12 bps +63 bps
7.2% 6.5% 7.1% EPS (₹)
+5.4% +13.6%
5.27 4.64 5.00
Quality of profit
Pre-tax profit ₹73.0 Cr: core business ₹61.0 Cr, other income ₹12.0 Cr.
Core profit YoY: -7.6%
· reported profit +5.8%
Cash & debt
FY26 cash from operations ₹85.0 Cr:
42% of FY26 net profit of ₹202 Cr.
Borrowings ₹57.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹885 ₹766
-13.5% below Net profit ₹53.7 ₹55.0
+2.4% in line
M Cap ₹2,702 Cr
P/E 19.4
PEG 1.02
Profit -30% below its own trend Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+8.6% +38.7%
504 363 464 Operating profit
+8.2% +3.2%
53.0 51.4 49.0 OPM %
-4 bps -363 bps
10.5% 14.1% 10.6% Other income
-28.6% -13.2%
5.0 5.8 7.0 Net profit
-5.1% -0.7%
37.0 37.3 39.0 PAT margin %
-106 bps -291 bps
7.3% 10.3% 8.4% EPS (₹)
-6.1% +30.0%
21.82 16.78 23.24
Quality of profit
Pre-tax profit ₹54.0 Cr: core business ₹49.0 Cr, other income ₹5.0 Cr.
Core profit YoY: +14.0%
· reported profit -5.1%
Cash & debt
FY26 cash from operations −₹19.0 Cr:
-14% of FY26 net profit of ₹139 Cr.
Borrowings ₹18.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹511 ₹504
-1.4% in line Net profit ₹53.1 ₹37.0
-30.3% below
M Cap ₹2,700 Cr
P/E 14.9
PEG 0.24
Profit +74% above its own trend Operating margin expanded 570 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+63.9% +9.9%
100 91.0 61.0 Operating profit
+78.9% +6.2%
68.0 64.0 38.0 OPM %
+570 bps -233 bps
68.0% 70.3% 62.3% Other income
-100.0% -100.0%
0.0 1.0 1.0 Net profit?
+84.0% +2.2%
46.0 45.0 25.0 PAT margin %
+502 bps -345 bps
46.0% 49.5% 41.0% EPS (₹)
+82.5% +0.3%
5.75 5.73 3.15
Quality of profit
Pre-tax profit ₹63.0 Cr: core business ₹64.0 Cr, other income ₹0.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +88.2%
· reported profit +84.0%
Cash & debt
FY26 cash from operations ₹114 Cr:
63% of FY26 net profit of ₹181 Cr.
Borrowings ₹37.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹62.5 ₹100
+59.9% above Net profit ₹26.5 ₹46.0
+73.6% above
M Cap ₹2,696 Cr
P/E 55.5
PEG 9.24
Profit +359% above its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+32.4% +9.6%
415 378 313 Operating profit
+33.9% +15.1%
39.5 34.3 29.5 OPM %
+11 bps +46 bps
9.5% 9.1% 9.4% Other income
to loss loss widened -5.7 -1.9 1.3 Net profit
+317.2% +45.8%
6.0 4.2 1.4 PAT margin %
+100 bps +36 bps
1.5% 1.1% 0.5% EPS (₹)
+315.9% +46.4%
1.83 1.25 0.44
Quality of profit
Pre-tax profit ₹5.1 Cr: core business ₹10.8 Cr, other income −₹5.7 Cr.
Core profit YoY: from loss
· reported profit +317.2%
Cash & debt
FY26 cash from operations ₹258 Cr:
614% of FY26 net profit of ₹42.0 Cr.
Borrowings ₹62.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹343 ₹415
+20.9% above Net profit ₹1.3 ₹6.0
+359.2% above
M Cap ₹2,696 Cr
P/E 23.6
PEG 0.29
Profit +137% above its own trend Exceptional items of ₹20.7 Cr in the quarter
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-2.5% +16.5%
490 421 503 Operating profit
-0.3% +19.9%
54.0 45.0 54.2 OPM %
+24 bps +32 bps
11.0% 10.7% 10.8% Other income
+22.3% +171.2%
16.3 6.0 13.3 Net profit
+285.8% +493.0%
65.2 11.0 16.9 PAT margin %
+994 bps +1069 bps
13.3% 2.6% 3.4% EPS (₹)
+285.7% +474.3%
23.72 4.13 6.15
Quality of profit
Pre-tax profit ₹13.0 Cr: core business ₹17.5 Cr, other income ₹16.3 Cr, exceptional & other items −₹20.7 Cr.
Core profit YoY: +28.1%
· reported profit +285.8%
Cash & debt
FY26 cash from operations ₹94.0 Cr:
73% of FY26 net profit of ₹128 Cr.
Borrowings ₹888 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹566 ₹490
-13.4% below Net profit ₹27.5 ₹65.2
+136.9% 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 14 Oct 2026, 01:16 IST
