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 37 of 171
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M Cap ₹2,692 Cr
P/E 9.8
PEG 0.58
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+22.3% +13.2%
744 657 608 Operating profit
+20.4% +32.1%
114 86.3 94.6 OPM %
-24 bps +219 bps
15.3% 13.1% 15.6% Other income
+10.9% +195.5%
19.6 6.6 17.6 Net profit?
+12.6% +27.4%
82.8 65.0 73.5 PAT margin %
-96 bps +124 bps
11.1% 9.9% 12.1% EPS (₹)
+12.8% +27.2%
4.95 3.89 4.39
Quality of profit
Pre-tax profit ₹95.5 Cr: core business ₹75.9 Cr, other income ₹19.6 Cr.
Core profit YoY: +4.9%
· reported profit +12.6%
Cash & debt
FY26 cash from operations ₹289 Cr:
107% of FY26 net profit of ₹270 Cr.
Borrowings ₹220 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹638 ₹744
+16.7% above Net profit ₹75.5 ₹82.8
+9.6% in line
M Cap ₹2,690 Cr
P/E 23.7
PEG —
Profit +108% above its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+16.3% +4.3%
430 412 370 Operating profit
+12.7% +19.2%
81.0 67.9 71.9 OPM %
-61 bps +236 bps
18.8% 16.5% 19.4% Other income
-86.6% -78.4%
1.0 4.6 7.5 Net profit?
+35.2% +156.1%
45.0 17.6 33.3 PAT margin %
+146 bps +620 bps
10.5% 4.3% 9.0% EPS (₹)
+34.3% +154.7%
9.27 3.64 6.90
Quality of profit
Pre-tax profit ₹35.0 Cr: core business ₹35.0 Cr, other income ₹1.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +7.1%
· reported profit +35.2%
Cash & debt
FY26 cash from operations ₹230 Cr:
234% of FY26 net profit of ₹98.3 Cr.
Borrowings ₹1,074 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹352 ₹430
+22.2% above Net profit ₹21.6 ₹45.0
+107.9% above
M Cap ₹2,689 Cr
P/E 23.3
PEG 0.86
Profit +14% above its own trend 36% of pre-tax profit came from other income and one-off items FY26 operating cash flow was only 36% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+27.9% +10.0%
299 272 234 Operating profit
+33.4% +26.1%
37.0 29.4 27.7 OPM %
+51 bps +157 bps
12.4% 10.8% 11.9% Other income
+111.8% +111.5%
18.0 8.5 8.5 Net profit
+48.7% +60.4%
40.0 24.9 26.9 PAT margin %
+187 bps +420 bps
13.4% 9.2% 11.5% EPS (₹)
+48.1% +59.8%
17.61 11.02 11.89
Quality of profit
Pre-tax profit ₹50.0 Cr: core business ₹32.0 Cr, other income ₹18.0 Cr.
Core profit YoY: +50.4%
· reported profit +48.7%
Cash & debt
FY26 cash from operations ₹40.0 Cr:
36% of FY26 net profit of ₹111 Cr.
Borrowings ₹2.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹289 ₹299
+3.6% in line Net profit ₹34.9 ₹40.0
+14.5% above
M Cap ₹2,683 Cr
P/E 193.1
PEG —
Profit -99% below its own trend Operating margin contracted 989 bps YoY 76% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-2.7% -0.2%
91.9 92.1 94.4 Operating profit
-25.1% +36.5%
30.3 22.2 40.5 OPM %
-989 bps +887 bps
33.0% 24.1% 42.9% Other income
-35.4% +43.4%
1.7 1.2 2.6 Net profit?
-97.5% from loss 0.4 -5.2 15.7 PAT margin %
-1623 bps +604 bps
0.4% -5.6% 16.7% EPS (₹)
-96.6% from loss 0.01 -0.09 0.29
Quality of profit
Pre-tax profit ₹2.2 Cr: core business ₹0.5 Cr, other income ₹1.7 Cr.
Core profit YoY: -95.9%
· reported profit -97.5%
Cash & debt
FY26 cash from operations ₹110 Cr:
17285% of FY26 net profit of ₹0.6 Cr.
Borrowings ₹343 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹96.7 ₹91.9
-5.0% in line Net profit ₹30.3 ₹0.4
-98.7% below
M Cap ₹2,679 Cr
P/E 15.9
PEG —
Turnaround: profit against a loss a year ago Gross NPA down 471 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Total income
-9.7% +1.4%
430 424 476 Net interest income
+1.7% -0.3%
292 293 287 Other income
-40.0% -25.0%
6.0 8.0 10.0 Net profit
from loss +714.3%
114 14.0 -165 EPS (₹)
from loss +713.8%
7.08 0.87 -10.15 Gross NPA %
-471 bps -117 bps
3.2% 4.4% 7.9% Net NPA %
+21 bps -12 bps
0.5% 0.6% 0.3%
Against its own trend ?
Trend Actual Gap
NII ₹250 ₹292
+17.0% above
M Cap ₹2,673 Cr
P/E 14.3
PEG —
Profit -18% below its own trend 54% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+4.8% +0.4%
1,427 1,421 1,361 Operating profit
-0.8% -23.3%
237 309 239 OPM %
-95 bps -513 bps
16.6% 21.7% 17.6% Other income
+200.0% —
60.0 3.7 20.0 Net profit?
-42.2% -9.6%
85.0 94.0 147 PAT margin %
-484 bps -66 bps
6.0% 6.6% 10.8% EPS (₹)
-42.1% -9.7%
13.06 14.47 22.55
Quality of profit
Pre-tax profit ₹113 Cr: core business ₹52.0 Cr, other income ₹60.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: -60.3%
· reported profit -42.2%
Cash & debt
FY26 cash from operations ₹250 Cr:
76% of FY26 net profit of ₹330 Cr.
Borrowings ₹5,029 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,342 ₹1,427
+6.3% above Net profit ₹104 ₹85.0
-18.3% below
M Cap ₹2,673 Cr
P/E 47.5
PEG —
Profit +94% above its own trend Operating margin contracted 257 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+23.1% +18.7%
424 357 344 Operating profit
+1.8% +69.2%
52.0 30.7 51.1 OPM %
-257 bps +366 bps
12.3% 8.6% 14.8% Other income
+5.8% +18.5%
5.0 4.2 4.7 Net profit?
-3.2% +384.4%
23.0 4.7 23.8 PAT margin %
-147 bps +410 bps
5.4% 1.3% 6.9% EPS (₹)
-7.7% +389.3%
8.66 1.77 9.38
Quality of profit
Pre-tax profit ₹31.0 Cr: core business ₹26.0 Cr, other income ₹5.0 Cr.
Core profit YoY: -6.2%
· reported profit -3.2%
Cash & debt
FY26 cash from operations ₹171 Cr:
450% of FY26 net profit of ₹38.0 Cr.
Borrowings ₹496 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹334 ₹424
+26.9% above Net profit ₹11.9 ₹23.0
+93.6% above
M Cap ₹2,672 Cr
P/E 21.3
PEG —
Profit +23% above its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+8.0% +0.3%
965 962 894 Operating profit
+12.6% +7.1%
95.9 89.6 85.2 OPM %
+41 bps +63 bps
9.9% 9.3% 9.5% Other income
+183.3% +78.6%
6.3 3.5 2.2 Net profit?
+21.8% +64.1%
41.7 25.4 34.2 PAT margin %
+49 bps +168 bps
4.3% 2.6% 3.8% EPS (₹)
+21.6% +64.3%
27.82 16.93 22.87
Quality of profit
Pre-tax profit ₹53.9 Cr: core business ₹47.7 Cr, other income ₹6.3 Cr.
Core profit YoY: +11.3%
· reported profit +21.8%
Cash & debt
FY26 cash from operations ₹306 Cr:
264% of FY26 net profit of ₹116 Cr.
Borrowings ₹418 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,030 ₹965
-6.3% below Net profit ₹33.9 ₹41.7
+22.9% above
M Cap ₹2,668 Cr
P/E 16.5
PEG —
Profit -29% below its own trend Operating margin expanded 152 bps YoY Core business grew faster than reported profit (core profit +24%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+1.3% -1.4%
637 646 629 Operating profit
+14.3% +29.5%
85.0 65.6 74.3 OPM %
+152 bps +318 bps
13.3% 10.2% 11.8% Other income
to loss to loss -8.0 2.5 9.0 Net profit
-8.6% +34.2%
33.0 24.6 36.1 PAT margin %
-56 bps +137 bps
5.2% 3.8% 5.7% EPS (₹)
-8.2% +33.0%
2.58 1.94 2.81
Quality of profit
Pre-tax profit ₹44.0 Cr: core business ₹52.0 Cr, other income −₹8.0 Cr.
Core profit YoY: +24.1%
· reported profit -8.6%
Cash & debt
FY26 cash from operations ₹292 Cr:
244% of FY26 net profit of ₹120 Cr.
Borrowings ₹463 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹626 ₹637
+1.8% in line Net profit ₹46.5 ₹33.0
-29.0% below
M Cap ₹2,666 Cr
P/E 32.3
PEG 1.62
Profit +62% above its own trend Operating margin expanded 762 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+9.3% +11.3%
205 184 187 Operating profit
+105.8% +7.4%
33.3 31.0 16.2 OPM %
+762 bps -60 bps
16.2% 16.8% 8.6% Other income
+131.3% -1.4%
5.9 6.0 2.6 Net profit?
+223.2% -4.6%
20.0 21.0 6.2 PAT margin %
+647 bps -163 bps
9.8% 11.4% 3.3% EPS (₹)
+204.8% -1.3%
5.12 5.19 1.68
Quality of profit
Pre-tax profit ₹27.6 Cr: core business ₹21.7 Cr, other income ₹5.9 Cr.
Core profit YoY: +231.6%
· reported profit +223.2%
Cash & debt
FY26 cash from operations ₹108 Cr:
130% of FY26 net profit of ₹83.1 Cr.
Borrowings ₹81.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹200 ₹205
+2.6% in line Net profit ₹12.4 ₹20.0
+61.6% above
M Cap ₹2,661 Cr
P/E 23.5
PEG —
Operating margin expanded 472 bps YoY Profit grew faster than the core business (core profit +65%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+2.9% +10.7%
319 288 310 Operating profit
+51.4% +33.1%
47.0 35.3 31.1 OPM %
+472 bps +248 bps
14.7% 12.3% 10.0% Other income
+78.2% -24.6%
9.0 11.9 5.0 Net profit?
+87.9% +27.2%
34.0 26.7 18.1 PAT margin %
+482 bps +138 bps
10.7% 9.3% 5.8% EPS (₹)
+88.9% +28.0%
19.65 15.35 10.40
Quality of profit
Pre-tax profit ₹50.0 Cr: core business ₹42.0 Cr, other income ₹9.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +65.2%
· reported profit +87.9%
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+22.2% -3.9%
279 290 228 Net profit
loss narrowed loss widened -11.4 -8.8 -21.2 PAT margin %
+522 bps -103 bps
-4.1% -3.0% -9.3%
M Cap ₹2,640 Cr
P/E 7.5
PEG —
Profit -19% below its own trend Operating margin contracted 588 bps YoY 43% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -51%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-0.9% +72.0%
430 250 434 Operating profit
-32.9% from loss 53.0 -8.0 79.0 OPM %
-588 bps +1553 bps
12.3% -3.2% 18.2% Other income
— +185.7%
20.0 7.0 0.0 Net profit?
-18.8% -79.3%
39.0 188 48.0 PAT margin %
-199 bps -6613 bps
9.1% 75.2% 11.1% EPS (₹)
-20.7% -77.8%
1.72 7.76 2.17
Quality of profit
Pre-tax profit ₹47.0 Cr: core business ₹27.0 Cr, other income ₹20.0 Cr.
Core profit YoY: -50.9%
· reported profit -18.8%
Cash & debt
FY26 cash from operations ₹307 Cr:
83% of FY26 net profit of ₹369 Cr.
Borrowings ₹108 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹413 ₹430
+4.1% in line Net profit ₹48.0 ₹39.0
-18.8% below
M Cap ₹2,635 Cr
P/E 23.6
PEG 1.82
Profit -29% below its own trend Operating margin contracted 301 bps YoY Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+23.9% +35.0%
767 568 619 Operating profit
-12.7% +61.8%
55.0 34.0 63.0 OPM %
-301 bps +118 bps
7.2% 6.0% 10.2% Other income
-23.1% +11.1%
10.0 9.0 13.0 Net profit
-22.0% +56.0%
39.0 25.0 50.0 PAT margin %
-299 bps +68 bps
5.1% 4.4% 8.1% EPS (₹)
-21.9% +59.3%
34.77 21.83 44.51
Quality of profit
Pre-tax profit ₹52.0 Cr: core business ₹43.0 Cr, other income ₹10.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: -20.4%
· reported profit -22.0%
Cash & debt
FY26 cash from operations −₹92.0 Cr:
-77% of FY26 net profit of ₹120 Cr.
Borrowings ₹307 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹714 ₹767
+7.5% above Net profit ₹54.7 ₹39.0
-28.7% below
Operating margin contracted 205 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-6.0% +5.0%
519 494 552 Operating profit
-14.6% +27.0%
105 82.7 123 OPM %
-205 bps +350 bps
20.2% 16.7% 22.3% Other income
— to loss -40.0 2.8 0.0 Net profit?
-72.0% from loss 14.0 -5.9 50.0 PAT margin %
-636 bps +389 bps
2.7% -1.2% 9.1% EPS (₹)
-71.3% from loss 1.17 -0.48 4.07
Quality of profit
Pre-tax profit ₹8.0 Cr: core business ₹48.0 Cr, other income −₹40.0 Cr.
Core profit YoY: -28.4%
· reported profit -72.0%
Cash & debt
FY26 cash from operations ₹302 Cr.
Borrowings ₹684 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹554 ₹519
-6.3% below
M Cap ₹2,624 Cr
P/E 45.6
PEG —
Turnaround: profit against a loss a year ago
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+123.0% +129.3%
27.4 11.9 12.3 Operating profit
from loss -15.9%
9.5 11.3 -30.8 OPM %
— -5986 bps
34.7% 94.6% — Other income
-97.9% from loss 0.0 -0.0 0.5 Net profit?
from loss -26.7%
5.5 7.5 -26.4 PAT margin %
— -4286 bps
20.1% 63.0% — EPS (₹)
from loss -26.5%
10.71 14.58 -49.86
Quality of profit
Pre-tax profit ₹9.3 Cr: core business ₹9.3 Cr, other income ₹0.0 Cr.
Core profit YoY: from loss
Cash & debt
FY26 cash from operations ₹49.0 Cr:
86% of FY26 net profit of ₹56.7 Cr.
Borrowings ₹3.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹11.2 ₹27.4
+145.5% above
M Cap ₹2,619 Cr
P/E 5.9
PEG —
Operating margin expanded 149 bps YoY Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+28.5% +14.1%
559 490 435 Operating profit
+39.5% +92.7%
106 55.0 76.0 OPM %
+149 bps +774 bps
19.0% 11.2% 17.5% Other income
loss widened to loss -159 76.0 -116 Net profit?
loss widened to loss -71.0 93.0 -58.0 PAT margin %
+63 bps -3168 bps
-12.7% 19.0% -13.3% EPS (₹)
loss widened to loss -24.20 30.54 -20.96
Quality of profit
Pre-tax profit −₹72.0 Cr: core business ₹86.0 Cr, other income −₹159 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +38.7%
Cash & debt
FY26 cash from operations −₹10.0 Cr:
-2% of FY26 net profit of ₹441 Cr.
Borrowings ₹237 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹448 ₹559
+24.6% above
M Cap ₹2,598 Cr
P/E 14.8
PEG 0.42
Profit +237% above its own trend Operating margin expanded 255 bps YoY Profit grew faster than the core business (core profit +73%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+18.7% +28.1%
502 392 423 Operating profit
+47.7% +38.3%
65.0 47.0 44.0 OPM %
+255 bps +96 bps
12.9% 12.0% 10.4% Other income
+116.7% +333.3%
13.0 3.0 6.0 Net profit?
+207.8% +305.7%
88.0 21.7 28.6 PAT margin %
+1077 bps +1200 bps
17.5% 5.5% 6.8% EPS (₹)
+144.9% -22.0%
10.09 12.94 4.12
Quality of profit
Pre-tax profit ₹64.0 Cr: core business ₹52.0 Cr, other income ₹13.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +73.3%
· reported profit +207.8%
Cash & debt
FY26 cash from operations ₹201 Cr:
114% of FY26 net profit of ₹176 Cr.
Borrowings ₹169 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹460 ₹502
+9.2% above Net profit ₹26.1 ₹88.0
+236.9% above
M Cap ₹2,597 Cr
P/E 662.0
PEG 22.07
Profit +180% above its own trend Operating margin contracted 1773 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
-27.4% +26.9%
5.6 4.4 7.8 Operating profit
to loss loss narrowed -0.6 -0.7 0.6 OPM %
-1773 bps +510 bps
-9.8% -14.9% 8.0% Other income
from loss —
1.3 0.0 -2.3 Net profit
+40.0% +168.4%
0.4 0.2 0.3 PAT margin %
+359 bps +392 bps
7.4% 3.5% 3.9% EPS (₹)
— +200.0%
0.03 0.01 0.01
No EPS growth against Mar 2025: 17:25 bonus in May 2025 and 2:1 bonus in Oct 2025.
Quality of profit
Pre-tax profit ₹0.5 Cr: core business −₹0.8 Cr, other income ₹1.3 Cr.
Core profit YoY: to loss
· reported profit +40.0%
Cash & debt
FY26 cash from operations ₹4.4 Cr:
139% of FY26 net profit of ₹3.2 Cr.
Borrowings ₹24.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹6.1 ₹5.6
-7.9% below Net profit ₹0.1 ₹0.4
+180.0% above
M Cap ₹2,589 Cr
P/E 31.8
PEG —
Profit +50% above its own trend Operating margin expanded 423 bps YoY 39% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +144%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+38.7% +34.5%
308 229 222 Operating profit
+111.1% +18.8%
38.0 32.0 18.0 OPM %
+423 bps -164 bps
12.3% 14.0% 8.1% Other income
-11.8% +50.0%
15.0 10.0 17.0 Net profit?
+50.0% +38.5%
30.0 21.7 20.0 PAT margin %
+73 bps +28 bps
9.7% 9.5% 9.0% EPS (₹)
+48.7% +35.0%
7.48 5.54 5.03
Quality of profit
Pre-tax profit ₹36.0 Cr: core business ₹22.0 Cr, other income ₹15.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +144.4%
· reported profit +50.0%
Cash & debt
FY26 cash from operations ₹78.0 Cr:
76% of FY26 net profit of ₹102 Cr.
Borrowings ₹87.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹245 ₹308
+25.9% above Net profit ₹19.9 ₹30.0
+50.4% above
M Cap ₹2,588 Cr
P/E 5.1
PEG 0.18
Profit +342% above its own trend Operating margin expanded 1035 bps YoY 43% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -20%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+26.6% +15.7%
428 370 338 Operating profit
+63.9% +59.4%
195 122 119 OPM %
+1035 bps +1249 bps
45.6% 33.1% 35.2% Other income
+180.0% +233.6%
42.0 12.6 15.0 Net profit
+367.1% from loss 327 -3.2 70.0 PAT margin %
+5569 bps +7727 bps
76.4% -0.9% 20.7% EPS (₹)
+369.0% from loss 21.06 -0.21 4.49
Quality of profit
Pre-tax profit ₹98.0 Cr: core business ₹56.0 Cr, other income ₹42.0 Cr.
Core profit YoY: -20.0%
· reported profit +367.1%
Cash & debt
FY26 cash from operations ₹649 Cr:
161% of FY26 net profit of ₹403 Cr.
Borrowings ₹3,594 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹391 ₹428
+9.5% above Net profit ₹74.0 ₹327
+341.6% above
M Cap ₹2,582 Cr
P/E 10.3
PEG —
Operating margin expanded 220 bps YoY All of pre-tax profit came from other income or one-off items Exceptional items of ₹521 Cr in the quarter Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-11.7% +3.4%
518 501 587 Operating profit
+24.6% +8.6%
39.1 36.0 31.4 OPM %
+220 bps +36 bps
7.5% 7.2% 5.3% Other income
-28.9% from loss 9.1 -3.0 12.8 Net profit?
+197.0% from loss 426 -52.0 144 PAT margin %
+5784 bps +9268 bps
82.3% -10.4% 24.5% EPS (₹)
+184.3% from loss 193.42 -23.55 68.03
Quality of profit
Pre-tax profit ₹483 Cr: core business −₹47.0 Cr, other income ₹9.1 Cr, exceptional & other items ₹521 Cr.
Core profit YoY: loss widened
· reported profit +197.0%
Cash & debt
FY26 cash from operations −₹4.0 Cr:
-2% of FY26 net profit of ₹252 Cr.
Borrowings ₹1,298 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹537 ₹518
-3.4% in line
M Cap ₹2,573 Cr
P/E 19.6
PEG 1.09
Profit -10% below its own trend Operating margin contracted 196 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+5.6% +13.1%
171 151 162 Operating profit
-4.7% -28.7%
31.0 43.5 32.5 OPM %
-196 bps -1063 bps
18.1% 28.8% 20.1% Other income
+35.5% -33.6%
6.0 9.0 4.4 Net profit?
-11.7% -43.3%
20.0 35.3 22.6 PAT margin %
-229 bps -1162 bps
11.7% 23.3% 14.0% EPS (₹)
-10.7% -42.7%
14.84 25.88 16.62
Quality of profit
Pre-tax profit ₹31.0 Cr: core business ₹24.0 Cr, other income ₹6.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: -8.4%
· reported profit -11.7%
Cash & debt
FY26 cash from operations ₹171 Cr:
160% of FY26 net profit of ₹107 Cr.
Borrowings ₹24.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹164 ₹171
+4.4% in line Net profit ₹22.2 ₹20.0
-10.1% below
M Cap ₹2,558 Cr
P/E 10.3
PEG 3.43
Turnaround: profit against a loss a year ago Operating margin expanded 187 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-0.3% -4.7%
534 560 535 Operating profit
+9.0% -3.5%
118 122 108 OPM %
+187 bps +27 bps
22.1% 21.8% 20.2% Other income
from loss +69.0%
5.1 3.0 -241 Net profit?
from loss -4.9%
63.7 67.0 -191 PAT margin %
+4764 bps -3 bps
11.9% 12.0% -35.7% EPS (₹)
from loss -10.3%
1.22 1.36 -3.86
Quality of profit
Pre-tax profit ₹70.3 Cr: core business ₹65.3 Cr, other income ₹5.1 Cr.
Core profit YoY: +16.5%
Cash & debt
FY26 cash from operations ₹469 Cr:
181% of FY26 net profit of ₹259 Cr.
Borrowings ₹646 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹771 ₹534
-30.8% below
M Cap ₹2,551 Cr
P/E 35.6
PEG 0.31
Profit +40% above its own trend Operating margin contracted 2833 bps YoY 86% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -80%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+125.0% +50.0%
45.0 30.0 20.0 Operating profit
+9.1% -46.6%
12.0 22.5 11.0 OPM %
-2833 bps -4822 bps
26.7% 74.9% 55.0% Other income
— +604.6%
12.0 1.7 0.0 Net profit?
+180.0% +111.0%
28.0 13.3 10.0 PAT margin %
+1222 bps +1799 bps
62.2% 44.2% 50.0% EPS (₹)
+171.3% +113.3%
7.08 3.32 2.61
Quality of profit
Pre-tax profit ₹14.0 Cr: core business ₹2.0 Cr, other income ₹12.0 Cr.
Core profit YoY: -80.0%
· reported profit +180.0%
Cash & debt
FY26 cash from operations ₹45.0 Cr:
66% of FY26 net profit of ₹67.9 Cr.
Borrowings ₹203 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹40.0 ₹45.0
+12.5% above Net profit ₹20.0 ₹28.0
+40.0% above
M Cap ₹2,551 Cr
P/E 4.2
PEG 0.08
Profit +999% above its own trend Operating margin contracted 722 bps YoY All of pre-tax profit came from other income or one-off items Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+14.6% -4.5%
1,269 1,329 1,107 Operating profit
to loss to loss -17.0 72.0 65.1 OPM %
-722 bps -676 bps
-1.3% 5.4% 5.9% Other income
— —
508 4.0 5.5 Net profit?
— —
555 10.0 10.9 PAT margin %
+4275 bps +4298 bps
43.7% 0.8% 1.0% EPS (₹)
— —
38.41 0.71 0.75
Quality of profit
Pre-tax profit ₹434 Cr: core business −₹74.0 Cr, other income ₹508 Cr.
Core profit YoY: to loss
Cash & debt
FY26 cash from operations −₹441 Cr:
-75% of FY26 net profit of ₹585 Cr.
Borrowings ₹1,697 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹991 ₹1,269
+28.0% above Net profit ₹7.3 ₹555
+999.0% above
M Cap ₹2,550 Cr
P/E 6.2
PEG 0.02
Profit +817% above its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Total income
+49.8% +23.9%
923 745 616 Net interest income
+53.6% +19.5%
539 451 351 Other income
+200.0% -40.0%
3.0 5.0 1.0 Net profit?
+636.4% +125.0%
162 72.0 22.0 EPS (₹)
+640.9% +125.3%
14.67 6.51 1.98
Against its own trend ?
Trend Actual Gap
NII ₹380 ₹539
+42.0% above Net profit ₹17.7 ₹162
+816.8% above
M Cap ₹2,543 Cr
P/E 65.1
PEG 2.41
Operating margin expanded 1333 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+3.4% +73.2%
478 276 462 Operating profit
+86.5% +333.3%
143 33.0 76.7 OPM %
+1333 bps +1796 bps
29.9% 12.0% 16.6% Other income
+1.1% +100.0%
2.0 1.0 2.0 Net profit
+306.6% from loss 87.0 -25.0 21.4 PAT margin %
+1357 bps +2726 bps
18.2% -9.1% 4.6% EPS (₹)
+477.0% from loss 31.04 -8.80 5.38
Quality of profit
Pre-tax profit ₹87.0 Cr: core business ₹86.0 Cr, other income ₹2.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +294.7%
· reported profit +306.6%
Cash & debt
FY26 cash from operations ₹142 Cr:
3162% of FY26 net profit of ₹4.5 Cr.
Borrowings ₹1,087 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹611 ₹478
-21.8% below
M Cap ₹2,542 Cr
P/E 31.2
PEG —
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+42.2% +44.8%
471 325 331 Operating profit
+31.8% +41.3%
46.1 32.6 35.0 OPM %
-78 bps -24 bps
9.8% 10.0% 10.6% Other income
+48.8% +0.3%
6.0 5.9 4.0 Net profit?
+51.5% +79.8%
30.3 16.9 20.0 PAT margin %
+39 bps +125 bps
6.4% 5.2% 6.0% EPS (₹)
+17.1% +79.8%
3.02 1.68 2.58
Quality of profit
Pre-tax profit ₹38.0 Cr: core business ₹32.0 Cr, other income ₹6.0 Cr.
Core profit YoY: +33.4%
· reported profit +51.5%
M Cap ₹2,531 Cr
P/E 32.1
PEG 0.19
Profit -33% below its own trend Core business grew faster than reported profit (core profit +56%) FY26 operating cash flow was only 21% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+56.9% +9.3%
165 151 105 Operating profit
+60.2% +6.9%
31.0 29.0 19.4 OPM %
+38 bps -42 bps
18.8% 19.2% 18.4% Other income
+225.7% +100.0%
4.0 2.0 1.2 Net profit?
+34.3% +10.5%
21.0 19.0 15.6 PAT margin %
-215 bps +14 bps
12.7% 12.6% 14.9% EPS (₹)
+16.1% +9.9%
1.44 1.31 1.24
Quality of profit
Pre-tax profit ₹28.0 Cr: core business ₹25.0 Cr, other income ₹4.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +56.3%
· reported profit +34.3%
Cash & debt
FY26 cash from operations ₹15.0 Cr:
21% of FY26 net profit of ₹72.2 Cr.
Borrowings ₹124 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹210 ₹165
-21.5% below Net profit ₹31.3 ₹21.0
-32.9% below
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, 02:23 IST
