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
Page 39 of 171
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M Cap ₹2,342 Cr
P/E 34.9
PEG 2.91
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+32.5% +18.8%
134 113 101 Operating profit
+37.0% +13.0%
26.0 23.0 19.0 OPM %
+64 bps -100 bps
19.4% 20.4% 18.8% Other income
+0.1% -28.3%
1.0 1.4 1.0 Net profit?
+27.6% +19.8%
18.0 15.0 14.1 PAT margin %
-52 bps +11 bps
13.4% 13.3% 14.0% EPS (₹)
+21.0% +15.6%
3.11 2.69 2.57
Quality of profit
Pre-tax profit ₹23.0 Cr: core business ₹22.0 Cr, other income ₹1.0 Cr.
Core profit YoY: +29.0%
· reported profit +27.6%
Cash & debt
FY26 cash from operations ₹44.0 Cr:
67% of FY26 net profit of ₹65.3 Cr.
Borrowings ₹32.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹127 ₹134
+5.6% above Net profit ₹19.3 ₹18.0
-6.5% in line
M Cap ₹2,326 Cr
P/E 13.5
PEG 0.18
Profit +999% above its own trend 87% of pre-tax profit came from other income and one-off items FY26 operating cash flow was only 48% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+9.4% -10.9%
327 367 299 Operating profit
+9.1% -14.9%
28.0 32.9 25.7 OPM %
-2 bps -41 bps
8.6% 9.0% 8.6% Other income
— —
103 0.3 0.3 Net profit
— —
142 7.4 10.5 PAT margin %
+3992 bps +4142 bps
43.4% 2.0% 3.5% EPS (₹)
— —
19.50 1.01 1.44
Quality of profit
Pre-tax profit ₹119 Cr: core business ₹15.0 Cr, other income ₹103 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +25.8%
Cash & debt
FY26 cash from operations ₹83.0 Cr:
48% of FY26 net profit of ₹172 Cr.
Borrowings ₹202 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹319 ₹327
+2.4% in line Net profit ₹10.8 ₹142
+999.0% above
M Cap ₹2,325 Cr
P/E 0.5
PEG 0.01
Operating margin contracted 1837 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
-2.6% -6.9%
4,001 4,297 4,108 Operating profit
to loss to loss -721 838 14.3 OPM %
-1837 bps -3752 bps
-18.0% 19.5% 0.3% Other income
— +282.6%
2,574 673 160 Net profit?
-62.6% —
1,640 11.1 4,387 PAT margin %
— +4073 bps
41.0% 0.3% — EPS (₹)
-79.7% —
22.47 0.27 110.75
Quality of profit
Pre-tax profit ₹1,155 Cr: core business −₹1,419 Cr, other income ₹2,574 Cr.
Core profit YoY: loss widened
· reported profit -62.6%
Cash & debt
FY26 cash from operations ₹2,550 Cr:
66% of FY26 net profit of ₹3,867 Cr.
Borrowings ₹4,937 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹3,554 ₹4,001
+12.6% above
M Cap ₹2,320 Cr
P/E 14.3
PEG 0.51
Profit +169% above its own trend Operating margin contracted 382 bps YoY Core business grew faster than reported profit (core profit +173%) FY26 operating cash flow was only 44% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+184.7% +136.8%
431 182 151 Operating profit
+146.8% +94.5%
107 55.0 43.4 OPM %
-382 bps -539 bps
24.8% 30.2% 28.6% Other income
+30.4% +50.0%
3.0 2.0 2.3 Net profit?
+133.4% +110.7%
59.0 28.0 25.3 PAT margin %
-301 bps -170 bps
13.7% 15.4% 16.7% EPS (₹)
+120.4% +117.7%
2.83 1.30 adj. 1.28
EPS restated for the ₹10 to ₹2 split of Jan 2026: Mar 2025 ₹6.42 to ₹1.28.
Quality of profit
Pre-tax profit ₹87.0 Cr: core business ₹84.0 Cr, other income ₹3.0 Cr.
Core profit YoY: +173.3%
· reported profit +133.4%
Cash & debt
FY26 cash from operations ₹69.0 Cr:
44% of FY26 net profit of ₹157 Cr.
Borrowings ₹711 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹171 ₹431
+152.1% above Net profit ₹22.0 ₹59.0
+168.6% above
M Cap ₹2,316 Cr
P/E 16.3
PEG 0.71
Operating margin expanded 120 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+2.1% -1.9%
925 943 906 Operating profit
+14.1% +27.1%
105 82.6 92.0 OPM %
+120 bps +259 bps
11.4% 8.8% 10.2% Other income
+28.6% -43.6%
9.0 16.0 7.0 Net profit?
+13.9% +22.2%
41.0 33.5 36.0 PAT margin %
+46 bps +87 bps
4.4% 3.6% 4.0% EPS (₹)
+15.2% +22.1%
3.04 2.49 2.64
Quality of profit
Pre-tax profit ₹55.0 Cr: core business ₹46.0 Cr, other income ₹9.0 Cr.
Core profit YoY: from loss
· reported profit +13.9%
Cash & debt
FY26 cash from operations ₹202 Cr:
146% of FY26 net profit of ₹139 Cr.
Borrowings ₹1,162 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,031 ₹925
-10.3% below Net profit ₹43.3 ₹41.0
-5.2% in line
M Cap ₹2,309 Cr
P/E 11.0
PEG 0.27
Profit -35% below its own trend Operating margin expanded 421 bps YoY Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-21.6% +1.7%
647 636 825 Operating profit
+4.9% +20.0%
108 90.0 103 OPM %
+421 bps +254 bps
16.7% 14.2% 12.5% Other income
-25.0% from loss 6.0 -4.0 8.0 Net profit
+31.0% +96.4%
55.0 28.0 42.0 PAT margin %
+341 bps +410 bps
8.5% 4.4% 5.1% EPS (₹)
+31.7% +100.0%
2.70 1.35 2.05
Quality of profit
Pre-tax profit ₹64.0 Cr: core business ₹58.0 Cr, other income ₹6.0 Cr.
Core profit YoY: -3.3%
· reported profit +31.0%
Cash & debt
FY26 cash from operations −₹39.0 Cr:
-12% of FY26 net profit of ₹337 Cr.
Borrowings ₹72.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹896 ₹647
-27.8% below Net profit ₹84.0 ₹55.0
-34.5% below
M Cap ₹2,306 Cr
P/E 29.0
PEG —
Operating margin contracted 405 bps YoY Profit grew faster than the core business (core profit -25%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+25.2% +4.2%
314 302 251 Operating profit
-13.3% -29.2%
28.6 40.4 33.0 OPM %
-405 bps -430 bps
9.1% 13.4% 13.1% Other income
+176.0% +420.8%
2.8 0.5 1.0 Net profit?
+2.9% -25.4%
15.4 20.7 15.0 PAT margin %
-107 bps -195 bps
4.9% 6.9% 6.0% EPS (₹)
+1.7% -25.5%
3.04 4.08 2.99
Quality of profit
Pre-tax profit ₹17.7 Cr: core business ₹15.0 Cr, other income ₹2.8 Cr.
Core profit YoY: -25.1%
· reported profit +2.9%
Cash & debt
FY26 cash from operations ₹75.0 Cr:
106% of FY26 net profit of ₹70.7 Cr.
Borrowings ₹324 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹291 ₹314
+7.9% above Net profit ₹15.0 ₹15.4
+3.0% in line
M Cap ₹2,303 Cr
P/E 17.4
PEG —
Operating margin expanded 4449 bps YoY Core business grew faster than reported profit (core profit +369%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+8.7% +9.5%
411 375 378 Operating profit
+374.4% +241.7%
237 69.4 50.0 OPM %
+4449 bps +3922 bps
57.7% 18.5% 13.2% Other income
+199.0% +245.7%
3.0 0.9 1.0 Net profit
+24.0% -3.0%
31.0 32.0 25.0 PAT margin %
+93 bps -97 bps
7.5% 8.5% 6.6% EPS (₹)
+21.1% -3.6%
7.18 7.45 5.93
Quality of profit
Pre-tax profit ₹158 Cr: core business ₹155 Cr, other income ₹3.0 Cr.
Core profit YoY: +368.8%
· reported profit +24.0%
Cash & debt
FY26 cash from operations ₹214 Cr:
183% of FY26 net profit of ₹117 Cr.
Borrowings ₹218 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹359 ₹411
+14.6% above Net profit ₹29.1 ₹31.0
+6.5% in line
M Cap ₹2,300 Cr
P/E 11.2
PEG 0.59
Profit +14% above its own trend Operating margin expanded 173 bps YoY Core business grew faster than reported profit (core profit +88%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+52.6% +12.8%
607 538 398 Operating profit
+83.1% +21.2%
63.0 52.0 34.4 OPM %
+173 bps +71 bps
10.4% 9.7% 8.6% Other income
-39.4% -7.7%
12.0 13.0 19.8 Net profit?
+26.7% +29.5%
57.0 44.0 45.0 PAT margin %
-192 bps +121 bps
9.4% 8.2% 11.3% EPS (₹)
+24.6% +32.0%
32.98 24.99 26.47
Quality of profit
Pre-tax profit ₹64.0 Cr: core business ₹52.0 Cr, other income ₹12.0 Cr.
Core profit YoY: +88.4%
· reported profit +26.7%
Cash & debt
FY26 cash from operations ₹194 Cr:
110% of FY26 net profit of ₹177 Cr.
Borrowings ₹16.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹376 ₹607
+61.5% above Net profit ₹50.1 ₹57.0
+13.8% above
Into loss: a profit a year ago Profit -125% below its own trend Operating margin contracted 1603 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-44.6% -8.7%
166 182 300 Operating profit
-96.7% -80.3%
1.7 8.5 51.1 OPM %
-1603 bps -366 bps
1.0% 4.7% 17.0% Other income
+630.8% +582.2%
34.2 5.0 4.7 Net profit?
to loss loss narrowed -9.3 -17.0 31.8 PAT margin %
-1619 bps +376 bps
-5.6% -9.3% 10.6% EPS (₹)
to loss loss narrowed -0.20 -0.47 1.66
Quality of profit
Pre-tax profit −₹5.1 Cr: core business −₹39.3 Cr, other income ₹34.2 Cr.
Core profit YoY: to loss
Cash & debt
FY26 cash from operations ₹346 Cr.
Borrowings ₹1,199 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹254 ₹166
-34.5% below Net profit ₹37.2 −₹9.3
-125.0% below
₹ Cr
Mar 2026
Sales
14.9 Operating profit
-5.8 OPM %
-39.2% Other income
0.1 Net profit
-2.9 PAT margin %
-19.5% EPS (₹)
-1.42
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 −₹7.9 Cr: core business −₹8.0 Cr, other income ₹0.1 Cr.
M Cap ₹2,272 Cr
P/E 90.5
PEG —
Profit -70% below its own trend Operating margin contracted 2394 bps YoY 74% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
to loss to loss -206 75.4 43.4 Operating profit
+457.4% -2.4%
26.6 27.3 4.8 OPM %
-2394 bps -4909 bps
-12.9% 36.2% 11.0% Other income
-88.3% +79.8%
6.7 3.7 57.1 Net profit?
-84.8% -6.1%
7.8 8.3 51.2 PAT margin %
— -1475 bps
-3.8% 11.0% — EPS (₹)
-84.8% -6.3%
0.59 0.63 3.87
Quality of profit
Pre-tax profit ₹9.0 Cr: core business ₹2.3 Cr, other income ₹6.7 Cr.
Core profit YoY: from loss
· reported profit -84.8%
Cash & debt
FY26 cash from operations ₹178 Cr:
284% of FY26 net profit of ₹62.7 Cr.
Borrowings ₹50.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹23.7 −₹206
-968.9% below Net profit ₹25.6 ₹7.8
-69.6% below
M Cap ₹2,269 Cr
P/E 24.2
PEG 2.20
Profit +300% above its own trend Operating margin contracted 186 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+28.0% +0.8%
242 240 189 Operating profit
+17.1% +6.7%
48.0 45.0 41.0 OPM %
-186 bps +108 bps
19.8% 18.8% 21.7% Other income
-87.5% from loss 1.0 -7.0 8.0 Net profit?
+145.5% —
54.0 4.0 22.0 PAT margin %
+1067 bps +2065 bps
22.3% 1.7% 11.6% EPS (₹)
+134.8% —
7.16 0.56 3.05
Quality of profit
Pre-tax profit ₹28.0 Cr: core business ₹26.0 Cr, other income ₹1.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +13.0%
· reported profit +145.5%
Cash & debt
FY26 cash from operations ₹118 Cr:
133% of FY26 net profit of ₹89.0 Cr.
Borrowings ₹54.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹229 ₹242
+5.6% above Net profit ₹13.5 ₹54.0
+300.1% above
M Cap ₹2,262 Cr
P/E 28.9
PEG 0.60
Profit -49% below its own trend Operating margin expanded 4050 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
+64.9% +81.8%
160 88.0 97.0 Operating profit
+875.0% —
78.0 2.0 8.0 OPM %
+4050 bps +4648 bps
48.8% 2.3% 8.2% Other income
-2.3% -2.3%
43.0 44.0 44.0 Net profit?
-13.0% +13.0%
26.0 23.0 29.9 PAT margin %
-1456 bps -989 bps
16.2% 26.1% 30.8% EPS (₹)
+519.2% +2.5%
1.61 1.57 0.26
Quality of profit
Pre-tax profit ₹36.0 Cr: core business −₹8.0 Cr, other income ₹43.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: loss narrowed
· reported profit -13.0%
Cash & debt
FY26 cash from operations ₹187 Cr:
140% of FY26 net profit of ₹134 Cr.
Borrowings ₹1,197 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹122 ₹160
+31.2% above Net profit ₹51.0 ₹26.0
-49.1% below
M Cap ₹2,259 Cr
P/E 17.5
PEG 0.21
Profit -22% below its own trend Core business grew faster than reported profit (core profit +55%) Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+49.9% +24.2%
618 498 412 Operating profit
+62.4% +14.6%
58.3 50.9 35.9 OPM %
+73 bps -78 bps
9.4% 10.2% 8.7% Other income
-19.2% +20.8%
10.3 8.5 12.7 Net profit?
+30.4% +12.9%
40.6 36.0 31.1 PAT margin %
-98 bps -66 bps
6.6% 7.2% 7.6% EPS (₹)
+30.2% +12.7%
3.02 2.68 2.32
Quality of profit
Pre-tax profit ₹54.5 Cr: core business ₹44.2 Cr, other income ₹10.3 Cr.
Core profit YoY: +54.9%
· reported profit +30.4%
Cash & debt
FY26 cash from operations −₹51.0 Cr:
-37% of FY26 net profit of ₹138 Cr.
Borrowings ₹55.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹599 ₹618
+3.2% in line Net profit ₹52.1 ₹40.6
-22.1% below
Turnaround: profit against a loss a year ago Gross NPA down 146 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Total income
+15.3% +2.8%
1,196 1,163 1,037 Net interest income
+19.4% +19.9%
518 432 434 Other income
+38.6% -25.3%
201 269 145 Net profit
from loss +242.9%
24.0 7.0 -183 EPS (₹)
from loss +228.6%
0.46 0.14 -3.55 Gross NPA %
-146 bps -23 bps
5.4% 5.6% 6.9% Net NPA %
-122 bps -96 bps
1.8% 2.7% 3.0%
Against its own trend ?
Trend Actual Gap
NII ₹319 ₹518
+62.5% above
M Cap ₹2,254 Cr
P/E 13.0
PEG 0.52
Profit +999% above its own trend Operating margin expanded 885 bps YoY Core business grew faster than reported profit (core profit +973%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+30.5% +14.6%
1,100 960 843 Operating profit
+420.0% +85.7%
130 70.0 25.0 OPM %
+885 bps +453 bps
11.8% 7.3% 3.0% Other income
+33.3% +60.0%
16.0 10.0 12.0 Net profit
+676.9% +106.1%
101 49.0 13.0 PAT margin %
+764 bps +408 bps
9.2% 5.1% 1.5% EPS (₹)
+662.3% +108.7%
71.96 34.48 9.44
Quality of profit
Pre-tax profit ₹133 Cr: core business ₹118 Cr, other income ₹16.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +972.7%
· reported profit +676.9%
Cash & debt
FY26 cash from operations ₹191 Cr:
137% of FY26 net profit of ₹139 Cr.
Borrowings ₹167 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹888 ₹1,100
+23.9% above Net profit ₹6.5 ₹101
+999.0% above
M Cap ₹2,240 Cr
P/E 50.7
PEG —
Profit +123% above its own trend Operating margin expanded 240 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+66.0% +101.7%
92.7 45.9 55.8 Operating profit
+88.0% +177.3%
19.1 6.9 10.1 OPM %
+240 bps +561 bps
20.6% 15.0% 18.2% Other income
loss narrowed to loss -0.0 0.6 -1.1 Net profit?
+151.7% +248.9%
22.6 6.5 9.0 PAT margin %
+831 bps +1030 bps
24.4% 14.1% 16.1% EPS (₹)
+151.9% —
1.31 — 0.52
Quality of profit
Pre-tax profit ₹18.5 Cr: core business ₹18.5 Cr, other income −₹0.0 Cr.
Core profit YoY: +82.5%
· reported profit +151.7%
Against its own trend ?
Trend Actual Gap
Sales ₹72.3 ₹92.7
+28.1% above Net profit ₹10.1 ₹22.6
+123.1% above
M Cap ₹2,239 Cr
P/E 49.4
PEG 0.76
Operating margin expanded 501 bps YoY Core business grew faster than reported profit (core profit +267%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+43.3% +24.7%
96.0 77.0 67.0 Operating profit
+83.3% +15.8%
22.0 19.0 12.0 OPM %
+501 bps -176 bps
22.9% 24.7% 17.9% Other income
-42.9% +100.0%
4.0 2.0 7.0 Net profit?
+11.1% +11.1%
10.0 9.0 9.0 PAT margin %
-302 bps -127 bps
10.4% 11.7% 13.4% EPS (₹)
+18.2% +18.2%
0.39 0.33 0.33
Quality of profit
Pre-tax profit ₹14.0 Cr: core business ₹11.0 Cr, other income ₹4.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +266.7%
· reported profit +11.1%
Cash & debt
FY26 cash from operations ₹121 Cr:
318% of FY26 net profit of ₹38.0 Cr.
Borrowings ₹220 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹77.3 ₹96.0
+24.1% above Net profit ₹10.7 ₹10.0
-6.5% in line
M Cap ₹2,235 Cr
P/E 445.0
PEG 8.24
Into loss: a profit a year ago Profit -367% below its own trend Operating margin contracted 1453 bps YoY Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+49.9% +0.3%
197 196 131 Operating profit
-14.5% -29.6%
38.0 54.0 44.5 OPM %
-1453 bps -820 bps
19.3% 27.5% 33.8% Other income
to loss to loss -180 2.0 2.9 Net profit?
to loss to loss -110 40.3 33.3 PAT margin %
-8114 bps -7633 bps
-55.8% 20.5% 25.3% EPS (₹)
to loss to loss -5.90 2.17 1.96
Quality of profit
Pre-tax profit −₹145 Cr: core business ₹35.0 Cr, other income −₹180 Cr.
Core profit YoY: -18.0%
Cash & debt
FY26 cash from operations −₹119 Cr:
-2370% of FY26 net profit of ₹5.0 Cr.
Borrowings ₹99.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹154 ₹197
+27.9% above Net profit ₹41.3 −₹110
-366.6% below
M Cap ₹2,229 Cr
P/E 37.3
PEG 0.72
Profit -28% below its own trend Core business grew faster than reported profit (core profit +67%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+57.2% +43.8%
338 235 215 Operating profit
+54.8% +71.4%
48.0 28.0 31.0 OPM %
-22 bps +229 bps
14.2% 11.9% 14.4% Other income
-100.0% -100.0%
0.0 4.0 4.0 Net profit?
+43.5% +83.3%
33.0 18.0 23.0 PAT margin %
-93 bps +210 bps
9.8% 7.7% 10.7% EPS (₹)
+41.4% +82.3%
7.11 3.90 5.03
Quality of profit
Pre-tax profit ₹40.0 Cr: core business ₹40.0 Cr, other income ₹0.0 Cr.
Core profit YoY: +66.7%
· reported profit +43.5%
Cash & debt
FY26 cash from operations ₹53.0 Cr:
101% of FY26 net profit of ₹52.6 Cr.
Borrowings ₹159 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹401 ₹338
-15.7% below Net profit ₹46.0 ₹33.0
-28.3% below
M Cap ₹2,222 Cr
P/E 32.5
PEG 3.61
Operating margin expanded 131 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+30.4% +20.0%
588 490 451 Operating profit
+46.8% +213.6%
69.0 22.0 47.0 OPM %
+131 bps +724 bps
11.7% 4.5% 10.4% Other income
-58.7% -80.0%
3.0 15.0 7.3 Net profit?
+128.6% —
32.0 0.0 14.0 PAT margin %
+234 bps +544 bps
5.4% 0.0% 3.1% EPS (₹)
+121.7% —
2.55 0.02 1.15
Quality of profit
Pre-tax profit ₹36.0 Cr: core business ₹34.0 Cr, other income ₹3.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: from loss
· reported profit +128.6%
Cash & debt
FY26 cash from operations ₹176 Cr:
370% of FY26 net profit of ₹47.5 Cr.
Borrowings ₹813 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹502 ₹588
+17.1% above
Turnaround: profit against a loss a year ago Gross NPA down 183 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Total income
-33.8% +12.9%
277 246 419 Net interest income
— +6.5%
134 126 — Other income
— +55.0%
17.5 11.3 — Net profit?
from loss from loss 5.3 -95.0 -434 EPS (₹)
from loss from loss 0.59 -10.71 -48.96 Gross NPA %
-183 bps -40 bps
3.8% 4.2% 5.6% Net NPA %
-49 bps -20 bps
0.7% 0.9% 1.2%
₹ Cr
Mar 2026
Sales
119 Operating profit
26.0 OPM %
21.8% Other income
5.0 Net profit?
21.0 PAT margin %
17.6% EPS (₹)
2.46
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 ₹28.0 Cr: core business ₹23.0 Cr, other income ₹5.0 Cr.
M Cap ₹2,217 Cr
P/E 22.5
PEG —
Operating margin contracted 403 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
+30.5% +48.9%
402 270 308 Operating profit
-10.0% +176.9%
36.0 13.0 40.0 OPM %
-403 bps +414 bps
9.0% 4.8% 13.0% Other income
+12.5% from loss 9.0 -3.0 8.0 Net profit?
-9.1% from loss 20.0 -6.0 22.0 PAT margin %
-217 bps +720 bps
5.0% -2.2% 7.1% EPS (₹)
-24.3% from loss 4.40 -1.38 5.81
Quality of profit
Pre-tax profit ₹27.0 Cr: core business ₹18.0 Cr, other income ₹9.0 Cr.
Core profit YoY: -28.0%
· reported profit -9.1%
M Cap ₹2,213 Cr
P/E 9.8
PEG —
Operating margin contracted 108 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+35.1% -6.5%
477 510 353 Operating profit
+27.2% -11.6%
84.0 95.0 66.0 OPM %
-108 bps -101 bps
17.6% 18.6% 18.7% Other income
+151.4% -16.2%
2.5 3.0 1.0 Net profit?
+31.7% -2.9%
59.3 61.0 45.0 PAT margin %
-32 bps +47 bps
12.4% 12.0% 12.7% EPS (₹)
+11.0% -2.7%
2.92 3.00 2.63
Quality of profit
Pre-tax profit ₹74.7 Cr: core business ₹72.1 Cr, other income ₹2.5 Cr.
Core profit YoY: +22.3%
· reported profit +31.7%
M Cap ₹2,212 Cr
P/E 34.7
PEG 3.16
Profit -40% below its own trend Operating margin contracted 565 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+3.8% -8.0%
184 200 177 Operating profit
-13.2% -25.0%
53.0 70.6 61.1 OPM %
-565 bps -650 bps
28.8% 35.3% 34.5% Other income
-100.0% -100.0%
0.0 1.5 2.9 Net profit?
-54.8% -50.4%
12.0 24.2 26.6 PAT margin %
-846 bps -557 bps
6.5% 12.1% 15.0% EPS (₹)
-54.8% -50.4%
0.56 1.13 1.24
Quality of profit
Pre-tax profit ₹25.0 Cr: core business ₹25.0 Cr, other income ₹0.0 Cr.
Core profit YoY: -31.2%
· reported profit -54.8%
Cash & debt
FY26 cash from operations ₹182 Cr:
279% of FY26 net profit of ₹65.2 Cr.
Borrowings ₹373 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹204 ₹184
-10.0% below Net profit ₹20.0 ₹12.0
-39.9% below
M Cap ₹2,212 Cr
P/E 99.6
PEG 1.04
Operating margin contracted 433 bps YoY 33% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +42%)
₹ Cr YoY vs prev. half
Mar 2026 Sep 2025 Mar 2025
Sales
+51.9% +53.4%
48.6 31.7 32.0 Operating profit
+32.8% +58.7%
14.6 9.2 11.0 OPM %
-433 bps +100 bps
30.0% 29.0% 34.4% Other income
+544.2% —
6.4 0.3 1.0 Net profit?
+75.5% +174.3%
12.3 4.5 7.0 PAT margin %
+340 bps +1113 bps
25.3% 14.1% 21.9% EPS (₹)
+47.6% +144.7%
8.59 3.51 5.82
Quality of profit
Pre-tax profit ₹18.9 Cr: core business ₹12.8 Cr, other income ₹6.4 Cr.
Core profit YoY: +41.7%
· reported profit +75.5%
Cash & debt
FY26 cash from operations −₹19.0 Cr.
Borrowings ₹8.0 Cr at Mar 2026.
M Cap ₹2,205 Cr
P/E 40.3
PEG —
Operating margin contracted 516 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+18.2% +11.6%
181 162 153 Operating profit
-14.9% +30.0%
24.0 18.5 28.2 OPM %
-516 bps +188 bps
13.3% 11.4% 18.4% Other income
+603.6% +76.7%
3.0 1.7 0.4 Net profit?
+2.5% +102.7%
17.0 8.4 16.6 PAT margin %
-143 bps +422 bps
9.4% 5.2% 10.8% EPS (₹)
+4.0% +78.0%
14.60 8.20 14.04
Quality of profit
Pre-tax profit ₹22.0 Cr: core business ₹19.0 Cr, other income ₹3.0 Cr.
Core profit YoY: -12.6%
· reported profit +2.5%
Against its own trend ?
Trend Actual Gap
Sales ₹171 ₹181
+5.7% above Net profit ₹17.9 ₹17.0
-5.3% in line
₹ Cr QoQ
Mar 2026 Dec 2025
Sales
+106.2%
198 96.0 Operating profit
from loss 26.0 -4.0 OPM %
+1730 bps
13.1% -4.2% Other income
+0.0%
3.0 3.0 Net profit?
from loss 13.0 -7.0 PAT margin %
+1386 bps
6.6% -7.3% EPS (₹)
from loss 2.98 -1.80
Quality of profit
Pre-tax profit ₹12.0 Cr: core business ₹10.0 Cr, other income ₹3.0 Cr, exceptional & other items −₹1.0 Cr.
Cash & debt
FY26 cash from operations ₹93.0 Cr.
Borrowings ₹333 Cr at Mar 2026.
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
