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
Results calendar
Q2 FY27 Q1 FY27 Q4 FY26 Q3 FY26 Q2 FY26
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 38 of 171
Tap ☆ on any company to add it to My companies. Your list stays in this browser.
M Cap ₹2,528 Cr
P/E 35.9
PEG 3.99
Profit +68% above its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+2.3% -2.2%
136 139 133 Operating profit
+0.0% -7.1%
39.0 42.0 39.0 OPM %
-65 bps -154 bps
28.7% 30.2% 29.3% Other income
+100.0% +100.0%
2.0 1.0 1.0 Net profit?
+68.4% +52.4%
32.0 21.0 19.0 PAT margin %
+924 bps +842 bps
23.5% 15.1% 14.3% EPS (₹)
+66.1% +54.7%
1.81 1.17 1.09
Quality of profit
Pre-tax profit ₹29.0 Cr: core business ₹27.0 Cr, other income ₹2.0 Cr.
Core profit YoY: +3.8%
· reported profit +68.4%
Cash & debt
FY26 cash from operations ₹128 Cr:
189% of FY26 net profit of ₹67.6 Cr.
Borrowings ₹131 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹158 ₹136
-14.2% below Net profit ₹19.0 ₹32.0
+68.4% above
M Cap ₹2,527 Cr
P/E 9.8
PEG —
Profit -12% below its own trend Operating margin contracted 265 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+38.9% +8.7%
293 270 211 Operating profit
+31.7% +28.9%
144 112 109 OPM %
-265 bps +772 bps
49.1% 41.4% 51.8% Other income
-25.7% -42.0%
4.0 6.9 5.4 Net profit?
+43.8% +10.6%
69.0 62.4 48.0 PAT margin %
+82 bps +40 bps
23.5% 23.2% 22.7% EPS (₹)
-2.7% +1.7%
4.69 4.61 4.82
Quality of profit
Pre-tax profit ₹85.0 Cr: core business ₹81.0 Cr, other income ₹4.0 Cr.
Core profit YoY: +24.3%
· reported profit +43.8%
Against its own trend ?
Trend Actual Gap
Sales ₹388 ₹293
-24.6% below Net profit ₹78.4 ₹69.0
-12.0% below
M Cap ₹2,523 Cr
P/E 8.9
PEG 0.52
Operating margin contracted 1200 bps YoY FY26 operating cash flow was only 43% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-0.4% -19.3%
60.0 74.3 60.3 Operating profit
-26.8% -27.1%
20.0 27.4 27.3 OPM %
-1200 bps -358 bps
33.3% 36.9% 45.3% Other income
-32.4% -13.4%
2.0 2.3 3.0 Net profit?
-2.1% +198.2%
67.0 22.5 68.5 EPS (₹)
-2.2% +11.5%
2.61 2.34 2.67
Quality of profit
Pre-tax profit ₹18.0 Cr: core business ₹16.0 Cr, other income ₹2.0 Cr.
Core profit YoY: -33.2%
· reported profit -2.1%
Cash & debt
FY26 cash from operations ₹120 Cr:
43% of FY26 net profit of ₹280 Cr.
Borrowings ₹11.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹68.9 ₹60.0
-12.9% below Net profit ₹70.3 ₹67.0
-4.6% in line
M Cap ₹2,517 Cr
P/E 14.1
PEG 0.64
Profit -33% below its own trend Operating margin contracted 442 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+6.6% -1.3%
489 496 459 Operating profit
-15.6% +19.8%
82.0 68.4 97.2 OPM %
-442 bps +296 bps
16.8% 13.8% 21.2% Other income
-5.1% -3.6%
11.0 11.4 11.6 Net profit?
-17.0% +65.9%
51.0 30.7 61.4 PAT margin %
-296 bps +423 bps
10.4% 6.2% 13.4% EPS (₹)
-17.3% +69.2%
8.83 5.22 10.68
Quality of profit
Pre-tax profit ₹69.0 Cr: core business ₹59.0 Cr, other income ₹11.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: -19.3%
· reported profit -17.0%
Cash & debt
FY26 cash from operations ₹321 Cr:
180% of FY26 net profit of ₹178 Cr.
Borrowings ₹1.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹495 ₹489
-1.3% in line Net profit ₹75.8 ₹51.0
-32.7% below
M Cap ₹2,511 Cr
P/E 25.1
PEG —
Profit +111% above its own trend Operating margin expanded 459 bps YoY Core business grew faster than reported profit (core profit +393%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-3.5% -11.9%
632 717 655 Operating profit
+70.8% -11.2%
66.6 75.0 39.0 OPM %
+459 bps +8 bps
10.5% 10.5% 6.0% Other income
+22.8% +80.4%
4.9 2.7 4.0 Net profit?
+322.3% -30.6%
21.1 30.4 5.0 PAT margin %
+258 bps -90 bps
3.3% 4.2% 0.8% EPS (₹)
+283.9% -30.4%
7.37 10.59 1.92
Quality of profit
Pre-tax profit ₹29.6 Cr: core business ₹24.7 Cr, other income ₹4.9 Cr.
Core profit YoY: +393.1%
· reported profit +322.3%
Cash & debt
FY26 cash from operations ₹268 Cr:
294% of FY26 net profit of ₹91.2 Cr.
Borrowings ₹527 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹614 ₹632
+2.9% in line Net profit ₹10.0 ₹21.1
+111.1% above
M Cap ₹2,499 Cr
P/E 89.1
PEG —
Turnaround: profit against a loss a year ago Operating margin expanded 548 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+27.2% -5.1%
387 407 304 Operating profit
— +4.1%
21.2 20.3 0.0 OPM %
+548 bps +49 bps
5.5% 5.0% 0.0% Other income
from loss +83.0%
0.9 0.5 -141 Net profit?
from loss +22.2%
9.8 8.1 -114 PAT margin %
+4005 bps +57 bps
2.5% 2.0% -37.5% EPS (₹)
from loss +22.5%
2.61 2.13 -30.25
Quality of profit
Pre-tax profit ₹13.2 Cr: core business ₹12.4 Cr, other income ₹0.9 Cr.
Core profit YoY: from loss
Against its own trend ?
Trend Actual Gap
Sales ₹580 ₹387
-33.3% below
M Cap ₹2,491 Cr
P/E 216.6
PEG —
Turnaround: profit against a loss a year ago Operating margin expanded 367 bps YoY 35% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+4.9% -9.0%
420 462 401 Operating profit
+318.5% +1.4%
20.6 20.3 4.9 OPM %
+367 bps +50 bps
4.9% 4.4% 1.2% Other income
-41.5% +197.8%
1.3 0.5 2.3 Net profit
from loss -64.9%
1.1 3.2 -11.9 PAT margin %
+325 bps -43 bps
0.3% 0.7% -3.0% EPS (₹)
from loss -64.7%
0.48 1.36 -5.00
Quality of profit
Pre-tax profit ₹3.8 Cr: core business ₹2.5 Cr, other income ₹1.3 Cr.
Core profit YoY: from loss
Cash & debt
FY26 cash from operations ₹50.0 Cr:
514% of FY26 net profit of ₹9.7 Cr.
Borrowings ₹45.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹403 ₹420
+4.3% in line
M Cap ₹2,491 Cr
P/E 47.9
PEG 0.86
Profit -32% below its own trend Operating margin expanded 205 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-27.6% +4.8%
110 105 152 Operating profit
-15.8% +33.3%
16.0 12.0 19.0 OPM %
+205 bps +312 bps
14.5% 11.4% 12.5% Other income
-50.0% -50.0%
1.0 2.0 2.0 Net profit
-15.4% +0.0%
11.0 11.0 13.0 PAT margin %
+145 bps -48 bps
10.0% 10.5% 8.6% EPS (₹)
-17.5% -2.1%
0.94 0.96 1.14
Quality of profit
Pre-tax profit ₹17.0 Cr: core business ₹15.0 Cr, other income ₹1.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: -11.8%
· reported profit -15.4%
Cash & debt
FY26 cash from operations ₹39.0 Cr:
90% of FY26 net profit of ₹43.4 Cr.
Borrowings ₹34.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹229 ₹110
-52.0% below Net profit ₹16.2 ₹11.0
-32.3% below
M Cap ₹2,480 Cr
P/E 31.7
PEG 4.52
Profit +16% above its own trend Operating margin contracted 118 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+27.6% +15.2%
286 248 224 Operating profit
+10.3% -5.6%
21.5 22.8 19.5 OPM %
-118 bps -166 bps
7.5% 9.2% 8.7% Other income
+51.5% +69.2%
5.4 3.2 3.5 Net profit?
+18.8% +2.9%
18.9 18.4 15.9 PAT margin %
-49 bps -78 bps
6.6% 7.4% 7.1% EPS (₹)
+17.6% +2.4%
4.61 4.50 3.92
Quality of profit
Pre-tax profit ₹25.4 Cr: core business ₹20.1 Cr, other income ₹5.4 Cr.
Core profit YoY: +11.3%
· reported profit +18.8%
Cash & debt
FY26 cash from operations ₹44.0 Cr:
64% of FY26 net profit of ₹68.7 Cr.
Borrowings ₹6.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹254 ₹286
+12.8% above Net profit ₹16.2 ₹18.9
+16.4% above
M Cap ₹2,460 Cr
P/E 24.4
PEG 4.06
Profit +212% above its own trend Operating margin expanded 317 bps YoY Exceptional items of ₹3.5 Cr in the quarter Core business grew faster than reported profit (core profit +157%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+6.4% +19.9%
818 682 769 Operating profit
+47.8% +48.9%
92.3 62.0 62.5 OPM %
+317 bps +220 bps
11.3% 9.1% 8.1% Other income
-16.1% +24.7%
3.2 2.5 3.8 Net profit?
+99.9% +119.9%
37.4 17.0 18.7 PAT margin %
+214 bps +208 bps
4.6% 2.5% 2.4% EPS (₹)
+77.5% +110.3%
9.23 4.39 5.20
Quality of profit
Pre-tax profit ₹54.2 Cr: core business ₹54.5 Cr, other income ₹3.2 Cr, exceptional & other items −₹3.5 Cr.
Core profit YoY: +157.3%
· reported profit +99.9%
Cash & debt
FY26 cash from operations ₹247 Cr:
335% of FY26 net profit of ₹73.7 Cr.
Borrowings ₹374 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹802 ₹818
+1.9% in line Net profit ₹12.0 ₹37.4
+212.1% above
M Cap ₹2,458 Cr
P/E 22.4
PEG —
Profit +927% above its own trend Operating margin expanded 244 bps YoY Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+22.8% +4.4%
517 495 421 Operating profit
+42.9% -11.8%
90.0 102 63.0 OPM %
+244 bps -320 bps
17.4% 20.6% 15.0% Other income
+0.0% +300.0%
4.0 1.0 4.0 Net profit?
+425.0% -32.3%
21.0 31.0 4.0 PAT margin %
+311 bps -220 bps
4.1% 6.3% 1.0% EPS (₹)
+461.1% -30.8%
1.01 1.46 0.18
Quality of profit
Pre-tax profit ₹29.0 Cr: core business ₹26.0 Cr, other income ₹4.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: —
· reported profit +425.0%
Cash & debt
FY26 cash from operations −₹73.0 Cr:
-71% of FY26 net profit of ₹103 Cr.
Borrowings ₹2,036 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹405 ₹517
+27.6% above Net profit ₹2.0 ₹21.0
+926.8% above
M Cap ₹2,447 Cr
P/E 17.2
PEG 2.87
Profit +12% above its own trend Operating margin expanded 225 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+8.4% +1.7%
323 318 298 Operating profit
+23.9% +1.9%
58.0 56.9 46.8 OPM %
+225 bps +4 bps
18.0% 17.9% 15.7% Other income
-25.2% +92.3%
6.0 3.1 8.0 Net profit?
+20.0% +11.6%
37.0 33.1 30.8 PAT margin %
+111 bps +102 bps
11.5% 10.4% 10.3% EPS (₹)
+16.0% +9.3%
3.40 3.11 2.93
Quality of profit
Pre-tax profit ₹49.0 Cr: core business ₹43.0 Cr, other income ₹6.0 Cr.
Core profit YoY: +28.8%
· reported profit +20.0%
Cash & debt
FY26 cash from operations ₹137 Cr:
97% of FY26 net profit of ₹142 Cr.
Borrowings ₹66.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹355 ₹323
-8.9% below Net profit ₹33.0 ₹37.0
+12.3% above
M Cap ₹2,441 Cr
P/E 21.8
PEG 0.91
Profit +20% above its own trend 25% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+15.1% +10.7%
237 214 206 Operating profit
+18.1% +24.2%
41.0 33.0 34.7 OPM %
+43 bps +188 bps
17.3% 15.4% 16.9% Other income
+116.7% -15.4%
11.0 13.0 5.1 Net profit?
+20.4% +18.5%
32.0 27.0 26.6 PAT margin %
+59 bps +89 bps
13.5% 12.6% 12.9% EPS (₹)
+18.8% +16.1%
5.12 4.41 4.31
Quality of profit
Pre-tax profit ₹40.0 Cr: core business ₹30.0 Cr, other income ₹11.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +29.3%
· reported profit +20.4%
Cash & debt
FY26 cash from operations ₹85.0 Cr:
81% of FY26 net profit of ₹104 Cr.
Borrowings ₹84.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹214 ₹237
+10.8% above Net profit ₹26.7 ₹32.0
+19.9% above
M Cap ₹2,437 Cr
P/E 33.8
PEG —
Profit +231% above its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+121.2% +36.4%
349 256 158 Net profit?
+152.0% +217.3%
29.0 9.1 11.5 PAT margin %
+101 bps +473 bps
8.3% 3.6% 7.3% EPS (₹)
+144.0% +247.5%
17.79 5.12 7.29
Against its own trend ?
Trend Actual Gap
Sales ₹295 ₹349
+18.4% above Net profit ₹8.8 ₹29.0
+230.9% above
Into loss: a profit a year ago Gross NPA down 172 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Total income
-18.4% +5.5%
952 902 1,167 Net interest income
— +8.0%
376 348 — Other income
— +42.0%
115 81.0 — Net profit
to loss loss narrowed -188 -375 3.0 EPS (₹)
to loss loss narrowed -1.06 -2.11 0.02 Gross NPA %
-172 bps -334 bps
7.7% 11.1% 9.4% Net NPA %
-155 bps -119 bps
3.3% 4.5% 4.8%
M Cap ₹2,428 Cr
P/E 13.9
PEG 6.95
Profit +15% above its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+18.6% +18.1%
664 562 560 Operating profit
+22.2% +20.3%
77.0 64.0 63.0 OPM %
+35 bps +21 bps
11.6% 11.4% 11.2% Other income
-33.3% from loss 6.0 -3.0 9.0 Net profit
+17.4% +38.5%
54.0 39.0 46.0 PAT margin %
-8 bps +119 bps
8.1% 6.9% 8.2% EPS (₹)
+17.3% +38.9%
35.66 25.68 30.39
Quality of profit
Pre-tax profit ₹72.0 Cr: core business ₹67.0 Cr, other income ₹6.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +26.4%
· reported profit +17.4%
Cash & debt
FY26 cash from operations ₹173 Cr:
105% of FY26 net profit of ₹165 Cr.
Borrowings ₹14.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹552 ₹664
+20.2% above Net profit ₹47.0 ₹54.0
+14.8% above
M Cap ₹2,426 Cr
P/E 13.0
PEG 0.72
Profit -34% below its own trend Operating margin contracted 585 bps YoY 60% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +11%) Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-23.3% +419.6%
114 21.9 149 Operating profit
-39.4% +138.8%
25.0 10.5 41.3 OPM %
-585 bps -2579 bps
21.9% 47.7% 27.8% Other income
-3.7% +67.9%
38.0 22.6 39.4 Net profit?
-15.2% +65.0%
46.0 27.9 54.2 PAT margin %
+385 bps —
40.4% — 36.5% EPS (₹)
-37.4% +60.5%
6.63 4.13 10.59
Quality of profit
Pre-tax profit ₹63.0 Cr: core business ₹25.0 Cr, other income ₹38.0 Cr.
Core profit YoY: +10.8%
· reported profit -15.2%
Cash & debt
FY26 cash from operations −₹54.0 Cr:
-28% of FY26 net profit of ₹196 Cr.
Borrowings ₹99.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹96.5 ₹114
+18.2% above Net profit ₹69.5 ₹46.0
-33.8% below
M Cap ₹2,411 Cr
P/E 10.1
PEG —
Profit +36% above its own trend FY26 operating cash flow was only 40% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+15.9% +36.7%
853 624 736 Operating profit
+22.7% +101.5%
137 68.0 112 OPM %
+89 bps +516 bps
16.1% 10.9% 15.2% Other income
+32.4% +12.5%
18.0 16.0 13.6 Net profit?
+35.3% +133.3%
98.0 42.0 72.5 PAT margin %
+165 bps +476 bps
11.5% 6.7% 9.8% EPS (₹)
+34.9% +134.0%
21.55 9.21 15.97
Quality of profit
Pre-tax profit ₹127 Cr: core business ₹110 Cr, other income ₹18.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +27.1%
· reported profit +35.3%
Cash & debt
FY26 cash from operations ₹93.0 Cr:
40% of FY26 net profit of ₹231 Cr.
Borrowings ₹352 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹845 ₹853
+0.9% in line Net profit ₹71.8 ₹98.0
+36.4% above
M Cap ₹2,400 Cr
P/E 7.9
PEG 0.26
Operating margin expanded 158 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-11.8% +14.7%
1,421 1,239 1,612 Operating profit
-1.5% +48.5%
215 145 218 OPM %
+158 bps +345 bps
15.1% 11.7% 13.5% Other income
to loss to loss -53.0 29.5 25.4 Net profit?
+15.3% -52.8%
44.0 93.3 38.2 PAT margin %
+73 bps -443 bps
3.1% 7.5% 2.4% EPS (₹)
-2.3% -48.8%
0.42 0.82 0.43
Quality of profit
Pre-tax profit ₹57.0 Cr: core business ₹110 Cr, other income −₹53.0 Cr.
Core profit YoY: -3.1%
· reported profit +15.3%
Cash & debt
FY26 cash from operations ₹560 Cr:
192% of FY26 net profit of ₹291 Cr.
Borrowings ₹1,216 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,732 ₹1,421
-18.0% below Net profit ₹40.9 ₹44.0
+7.5% in line
Into loss: a profit a year ago Profit -102% below its own trend Operating margin contracted 244 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
+10.2% +40.4%
347 247 315 Operating profit
-25.0% +50.1%
18.0 12.0 24.0 OPM %
-244 bps +34 bps
5.2% 4.9% 7.6% Other income
-55.5% +163.9%
1.5 0.6 3.4 Net profit?
to loss loss narrowed -0.1 -4.8 9.9 PAT margin %
-317 bps +189 bps
-0.0% -1.9% 3.1% EPS (₹)
to loss loss narrowed -0.03 -1.08 2.24
Quality of profit
Pre-tax profit ₹1.4 Cr: core business −₹0.1 Cr, other income ₹1.5 Cr.
Core profit YoY: to loss
Cash & debt
FY26 cash from operations ₹35.0 Cr:
750% of FY26 net profit of ₹4.7 Cr.
Borrowings ₹124 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹288 ₹347
+20.3% above Net profit ₹5.8 −₹0.1
-102.2% below
M Cap ₹2,384 Cr
P/E 36.6
PEG 3.05
Profit +100% above its own trend Operating margin expanded 391 bps YoY Core business grew faster than reported profit (core profit +176%) Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+77.0% +66.8%
338 203 191 Operating profit
+148.3% +77.5%
46.0 25.9 18.5 OPM %
+391 bps +82 bps
13.6% 12.8% 9.7% Other income
-33.5% +67.1%
6.0 3.6 9.0 Net profit?
+149.3% +83.1%
33.0 18.0 13.2 PAT margin %
+283 bps +87 bps
9.8% 8.9% 6.9% EPS (₹)
+146.4% +79.7%
5.84 3.25 2.37
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: +175.9%
· reported profit +149.3%
Cash & debt
FY26 cash from operations −₹2.0 Cr:
-3% of FY26 net profit of ₹65.2 Cr.
Borrowings ₹91.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹272 ₹338
+24.4% above Net profit ₹16.5 ₹33.0
+99.6% above
M Cap ₹2,383 Cr
P/E 14.8
PEG 0.14
Operating margin expanded 164 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+0.3% +1.7%
1,202 1,182 1,198 Operating profit
+24.4% +104.0%
102 50.0 82.0 OPM %
+164 bps +426 bps
8.5% 4.2% 6.8% Other income
-78.3% -16.7%
5.0 6.0 23.0 Net profit?
+25.5% +611.1%
64.0 9.0 51.0 PAT margin %
+107 bps +456 bps
5.3% 0.8% 4.3% EPS (₹)
+25.5% +623.5%
2.46 0.34 1.96
Quality of profit
Pre-tax profit ₹64.0 Cr: core business ₹58.0 Cr, other income ₹5.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: from loss
· reported profit +25.5%
Cash & debt
FY26 cash from operations ₹134 Cr:
89% of FY26 net profit of ₹150 Cr.
Borrowings ₹1,133 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,563 ₹1,202
-23.1% below
M Cap ₹2,376 Cr
P/E 29.7
PEG 1.56
Profit -19% below its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+16.0% +10.1%
109 99.0 94.0 Operating profit
+18.2% +14.7%
39.0 34.0 33.0 OPM %
+67 bps +144 bps
35.8% 34.3% 35.1% Other income
+50.0% —
3.0 0.0 2.0 Net profit
+16.7% +16.7%
21.0 18.0 18.0 PAT margin %
+12 bps +108 bps
19.3% 18.2% 19.1% EPS (₹)
+14.8% +20.1%
4.73 3.94 4.12
Quality of profit
Pre-tax profit ₹29.0 Cr: core business ₹26.0 Cr, other income ₹3.0 Cr.
Core profit YoY: +8.3%
· reported profit +16.7%
Cash & debt
FY26 cash from operations ₹147 Cr:
188% of FY26 net profit of ₹78.0 Cr.
Borrowings ₹3.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹114 ₹109
-4.2% in line Net profit ₹26.1 ₹21.0
-19.4% below
M Cap ₹2,375 Cr
P/E 66.0
PEG 13.21
Profit -28% below its own trend Operating margin expanded 133 bps YoY 78% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -24%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-12.0% -33.5%
118 177 134 Operating profit
+2.4% -57.4%
11.2 26.2 10.9 OPM %
+133 bps -534 bps
9.5% 14.8% 8.2% Other income
+25.0% -0.3%
6.3 6.4 5.1 Net profit
-3.0% -65.6%
6.0 17.5 6.2 PAT margin %
+47 bps -478 bps
5.1% 9.9% 4.6% EPS (₹)
-3.0% -65.6%
23.42 68.16 24.14
Quality of profit
Pre-tax profit ₹8.1 Cr: core business ₹1.8 Cr, other income ₹6.3 Cr.
Core profit YoY: -23.9%
· reported profit -3.0%
Cash & debt
FY26 cash from operations ₹59.0 Cr:
167% of FY26 net profit of ₹35.3 Cr.
Borrowings ₹48.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹148 ₹118
-20.7% below Net profit ₹8.3 ₹6.0
-27.7% below
M Cap ₹2,366 Cr
P/E 72.6
PEG —
Profit +274% above its own trend Operating margin expanded 510 bps YoY 39% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +68%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-15.3% +26.4%
134 106 158 Operating profit
+47.9% +45.5%
16.0 11.0 10.8 OPM %
+510 bps +156 bps
11.9% 10.4% 6.8% Other income
+212.2% +75.0%
7.0 4.0 2.2 Net profit?
+97.7% +85.7%
13.0 7.0 6.6 PAT margin %
+555 bps +310 bps
9.7% 6.6% 4.2% EPS (₹)
+87.5% +91.3%
5.53 2.89 2.95
Quality of profit
Pre-tax profit ₹18.0 Cr: core business ₹11.0 Cr, other income ₹7.0 Cr.
Core profit YoY: +67.7%
· reported profit +97.7%
Cash & debt
FY26 cash from operations ₹20.0 Cr:
103% of FY26 net profit of ₹19.5 Cr.
Borrowings ₹325 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹163 ₹134
-17.8% below Net profit ₹3.5 ₹13.0
+273.8% above
M Cap ₹2,364 Cr
P/E 15.7
PEG 1.31
Profit +33% above its own trend 31% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -2%) FY26 operating cash flow was only 44% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+18.1% +17.8%
685 582 580 Operating profit
+11.6% +11.8%
77.0 68.9 69.0 OPM %
-66 bps -60 bps
11.2% 11.8% 11.9% Other income
+900.0% —
20.0 0.9 2.0 Net profit?
+35.3% +40.4%
46.0 32.8 34.0 PAT margin %
+85 bps +108 bps
6.7% 5.6% 5.9% EPS (₹)
+33.4% +40.2%
8.30 5.92 6.22
Quality of profit
Pre-tax profit ₹64.0 Cr: core business ₹44.0 Cr, other income ₹20.0 Cr.
Core profit YoY: -2.2%
· reported profit +35.3%
Cash & debt
FY26 cash from operations ₹65.0 Cr:
44% of FY26 net profit of ₹149 Cr.
Borrowings ₹436 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹670 ₹685
+2.2% in line Net profit ₹34.5 ₹46.0
+33.3% above
M Cap ₹2,362 Cr
P/E 7.5
PEG 0.19
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+13.1% -11.4%
976 1,102 863 Operating profit
+13.7% -5.4%
166 175 146 OPM %
+10 bps +109 bps
17.0% 15.9% 16.9% Other income
+780.5% —
14.0 0.7 1.6 Net profit?
+35.9% +28.8%
87.0 67.6 64.0 PAT margin %
+150 bps +278 bps
8.9% 6.1% 7.4% EPS (₹)
+25.3% +20.1%
12.96 10.79 adj. 10.34
EPS restated for the ₹10 to ₹5 split of Aug 2025: Mar 2025 ₹20.68 to ₹10.34.
Quality of profit
Pre-tax profit ₹112 Cr: core business ₹99.0 Cr, other income ₹14.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +43.9%
· reported profit +35.9%
Cash & debt
FY26 cash from operations ₹769 Cr:
263% of FY26 net profit of ₹293 Cr.
Borrowings ₹1,691 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹978 ₹976
-0.2% in line Net profit ₹80.6 ₹87.0
+7.9% in line
M Cap ₹2,361 Cr
P/E 146.4
PEG 1.05
Operating margin contracted 216 bps YoY 33% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+18.8% +18.2%
851 720 716 Operating profit
+6.8% +44.2%
163 113 153 OPM %
-216 bps +346 bps
19.2% 15.7% 21.3% Other income
+88.2% +114.3%
15.0 7.0 8.0 Net profit?
-48.9% from loss 22.0 -13.0 43.1 PAT margin %
-343 bps +439 bps
2.6% -1.8% 6.0% EPS (₹)
-49.5% from loss 1.39 -0.83 2.75
Quality of profit
Pre-tax profit ₹46.0 Cr: core business ₹31.0 Cr, other income ₹15.0 Cr.
Core profit YoY: -1.5%
· reported profit -48.9%
Cash & debt
FY26 cash from operations ₹491 Cr:
506% of FY26 net profit of ₹97.0 Cr.
Borrowings ₹3,076 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹862 ₹851
-1.3% in line
Turnaround: profit against a loss a year ago Operating margin expanded 231 bps YoY Exceptional items of ₹-5.5 Cr in the quarter
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+7.9% +0.3%
865 863 802 Operating profit
+428.8% +4.7%
25.1 24.0 4.8 OPM %
+231 bps +12 bps
2.9% 2.8% 0.6% Other income
from loss +210.1%
6.6 2.1 -5.8 Net profit?
from loss from loss 3.8 -23.2 -23.2 PAT margin %
+334 bps +314 bps
0.4% -2.7% -2.9% EPS (₹)
— from loss 0.28 -1.34 —
Quality of profit
Pre-tax profit ₹8.0 Cr: core business ₹6.8 Cr, other income ₹6.6 Cr, exceptional & other items −₹5.5 Cr.
Core profit YoY: from loss
M Cap ₹2,342 Cr
P/E 22.2
PEG 3.17
Profit -44% below its own trend Operating margin contracted 153 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-8.6% -4.7%
365 383 399 Operating profit
-18.9% -22.3%
44.0 56.6 54.2 OPM %
-153 bps -272 bps
12.1% 14.8% 13.6% Other income
-5.3% -32.1%
4.0 5.9 4.2 Net profit?
-37.5% -29.6%
19.0 27.0 30.4 PAT margin %
-241 bps -185 bps
5.2% 7.1% 7.6% EPS (₹)
-39.4% -31.6%
7.35 10.74 12.12
Quality of profit
Pre-tax profit ₹26.0 Cr: core business ₹23.0 Cr, other income ₹4.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: -30.8%
· reported profit -37.5%
Cash & debt
FY26 cash from operations ₹209 Cr:
206% of FY26 net profit of ₹101 Cr.
Borrowings ₹419 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹488 ₹365
-25.2% below Net profit ₹34.0 ₹19.0
-44.1% 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
