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 ₹2,161 Cr
P/E 13.8
PEG —
Profit +13% above its own trend Operating margin expanded 247 bps YoY Core business grew faster than reported profit (core profit +182%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+36.9% +13.6%
1,021 899 746 Operating profit
+72.9% +77.9%
121 68.0 70.0 OPM %
+247 bps +428 bps
11.9% 7.6% 9.4% Other income
-33.3% -71.7%
10.0 35.4 15.0 Net profit?
+37.0% +25.4%
37.0 29.5 27.0 PAT margin %
+0 bps +34 bps
3.6% 3.3% 3.6% EPS (₹)
+36.2% +23.3%
14.06 11.40 10.32
Quality of profit
Pre-tax profit ₹58.0 Cr: core business ₹48.0 Cr, other income ₹10.0 Cr.
Core profit YoY: +182.4%
· reported profit +37.0%
Cash & debt
FY26 cash from operations ₹397 Cr:
254% of FY26 net profit of ₹156 Cr.
Borrowings ₹1,680 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹886 ₹1,021
+15.3% above Net profit ₹32.6 ₹37.0
+13.4% above
M Cap ₹2,155 Cr
P/E 25.6
PEG —
Operating margin expanded 867 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+137.9% -4.2%
138 144 58.0 Operating profit
+287.5% -8.8%
31.0 34.0 8.0 OPM %
+867 bps -115 bps
22.5% 23.6% 13.8% Other income
— —
2.0 0.0 0.0 Net profit
+320.0% -8.7%
21.0 23.0 5.0 PAT margin %
+660 bps -75 bps
15.2% 16.0% 8.6% EPS (₹)
-31.0% -36.1%
6.75 10.57 9.78
Quality of profit
Pre-tax profit ₹29.0 Cr: core business ₹28.0 Cr, other income ₹2.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +300.0%
· reported profit +320.0%
M Cap ₹2,150 Cr
P/E 25.2
PEG —
Profit -91% below its own trend Operating margin contracted 521 bps YoY 44% of pre-tax profit came from other income and one-off items Exceptional items of ₹-5.5 Cr in the quarter
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-11.9% +0.6%
161 160 183 Operating profit
-32.4% +14.9%
27.7 24.1 41.0 OPM %
-521 bps +214 bps
17.2% 15.0% 22.4% Other income
-93.5% +85.5%
13.7 7.4 211 Net profit?
-90.0% +15.2%
16.4 14.3 165 PAT margin %
-7996 bps +129 bps
10.2% 8.9% 90.2% EPS (₹)
-90.1% +15.1%
0.61 0.53 6.15
Quality of profit
Pre-tax profit ₹21.7 Cr: core business ₹12.1 Cr, other income ₹13.7 Cr, exceptional & other items −₹4.1 Cr.
Core profit YoY: -55.3%
· reported profit -90.0%
Cash & debt
FY26 cash from operations ₹135 Cr:
158% of FY26 net profit of ₹85.3 Cr.
Borrowings ₹49.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹175 ₹161
-7.9% below Net profit ₹189 ₹16.4
-91.3% below
Operating margin expanded 2182 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+25.8% +0.9%
167 165 133 Operating profit
from loss -78.1%
2.6 11.7 -26.9 OPM %
+2182 bps -557 bps
1.5% 7.1% -20.3% Other income
-85.5% +130.7%
5.3 2.3 36.3 Net profit?
loss narrowed to loss -1.0 3.9 -2.0 PAT margin %
+90 bps -295 bps
-0.6% 2.4% -1.5% EPS (₹)
from loss -87.7%
0.08 0.65 -0.31
Quality of profit
Pre-tax profit −₹1.2 Cr: core business −₹6.5 Cr, other income ₹5.3 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY26 cash from operations ₹17.0 Cr.
Borrowings ₹24.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹131 ₹167
+27.0% above
M Cap ₹2,130 Cr
P/E 16.7
PEG 2.09
Profit +999% above its own trend 39% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +195%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+17.1% +4.8%
1,609 1,535 1,374 Operating profit
+32.6% +200.0%
126 42.0 95.0 OPM %
+92 bps +509 bps
7.8% 2.7% 6.9% Other income
+270.0% +825.0%
37.0 4.0 10.0 Net profit?
+633.3% from loss 88.0 -40.0 12.0 PAT margin %
+460 bps +808 bps
5.5% -2.6% 0.9% EPS (₹)
+689.4% from loss 51.94 -35.41 6.58
Quality of profit
Pre-tax profit ₹92.0 Cr: core business ₹56.0 Cr, other income ₹37.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +194.7%
· reported profit +633.3%
Cash & debt
FY26 cash from operations ₹280 Cr:
206% of FY26 net profit of ₹136 Cr.
Borrowings ₹1,021 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹2,134 ₹1,609
-24.6% below Net profit ₹6.0 ₹88.0
+999.0% above
M Cap ₹2,127 Cr
P/E 28.8
PEG —
Operating margin contracted 970 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+6.2% +17.5%
188 160 177 Operating profit
-28.8% -2.6%
37.0 38.0 52.0 OPM %
-970 bps -407 bps
19.7% 23.8% 29.4% Other income
+100.0% from loss 2.0 -9.0 1.0 Net profit?
-46.9% +21.4%
17.0 14.0 32.0 PAT margin %
-904 bps +29 bps
9.0% 8.8% 18.1% EPS (₹)
-43.8% +37.0%
0.63 0.46 1.12
Quality of profit
Pre-tax profit ₹25.0 Cr: core business ₹24.0 Cr, other income ₹2.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: -38.5%
· reported profit -46.9%
Cash & debt
FY26 cash from operations ₹236 Cr:
284% of FY26 net profit of ₹83.0 Cr.
Borrowings ₹123 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹150 ₹188
+25.2% above Net profit ₹16.3 ₹17.0
+4.3% in line
M Cap ₹2,125 Cr
P/E 52.2
PEG —
Operating margin contracted 411 bps YoY Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+4.8% +214.3%
22.0 7.0 21.0 Operating profit
+0.0% +850.0%
19.0 2.0 19.0 OPM %
-411 bps +5779 bps
86.4% 28.6% 90.5% Other income
-68.8% —
5.0 0.0 16.0 Net profit?
-26.9% +850.0%
19.0 2.0 26.0 PAT margin %
— +5779 bps
86.4% 28.6% — EPS (₹)
-24.8% —
44.24 3.92 58.83
Quality of profit
Pre-tax profit ₹24.0 Cr: core business ₹19.0 Cr, other income ₹5.0 Cr.
Core profit YoY: +0.0%
· reported profit -26.9%
Cash & debt
FY26 cash from operations −₹18.0 Cr:
-49% of FY26 net profit of ₹37.0 Cr.
Borrowings nil at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹23.3 ₹22.0
-5.5% below Net profit ₹17.3 ₹19.0
+9.6% in line
M Cap ₹2,122 Cr
P/E 6.8
PEG 0.32
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+8.9% +15.1%
920 799 845 Operating profit
+8.3% +15.3%
143 124 132 OPM %
-8 bps +2 bps
15.5% 15.5% 15.6% Other income
-14.3% -50.0%
6.0 12.0 7.0 Net profit
+2.2% +6.9%
93.0 87.0 91.0 PAT margin %
-66 bps -78 bps
10.1% 10.9% 10.8% EPS (₹)
+2.8% +7.4%
5.21 4.85 5.07
Quality of profit
Pre-tax profit ₹93.0 Cr: core business ₹87.0 Cr, other income ₹6.0 Cr.
Core profit YoY: +2.4%
· reported profit +2.2%
Cash & debt
FY26 cash from operations ₹299 Cr:
90% of FY26 net profit of ₹333 Cr.
Borrowings ₹515 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹740 ₹920
+24.3% above Net profit ₹92.5 ₹93.0
+0.5% in line
M Cap ₹2,122 Cr
P/E 18.2
PEG 0.32
Profit +14% above its own trend Operating margin expanded 945 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+32.8% +43.7%
259 180 195 Operating profit
+117.2% +67.9%
63.0 37.5 29.0 OPM %
+945 bps +351 bps
24.3% 20.8% 14.9% Other income
-26.0% +98.4%
5.0 2.5 6.8 Net profit?
+128.6% +87.6%
48.0 25.6 21.0 PAT margin %
+776 bps +434 bps
18.5% 14.2% 10.8% EPS (₹)
+126.2% +85.7%
35.54 19.14 15.71
Quality of profit
Pre-tax profit ₹62.0 Cr: core business ₹56.0 Cr, other income ₹5.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +130.6%
· reported profit +128.6%
Cash & debt
FY26 cash from operations ₹156 Cr:
151% of FY26 net profit of ₹103 Cr.
Borrowings ₹12.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹212 ₹259
+22.4% above Net profit ₹42.0 ₹48.0
+14.3% above
M Cap ₹2,104 Cr
P/E 22.3
PEG —
₹ Cr QoQ
Mar 2026 Dec 2025
Sales
-2.7%
117 120 Net profit
+172.4%
50.9 18.7 PAT margin %
+2789 bps
43.4% 15.5%
Operating margin expanded 334 bps YoY Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+62.9% +15.6%
152 132 93.5 Operating profit
loss narrowed loss narrowed -4.9 -6.1 -6.1 OPM %
+334 bps +141 bps
-3.2% -4.6% -6.6% Other income
-77.2% -10.9%
2.3 2.6 10.2 Net profit?
loss widened loss narrowed -7.8 -12.0 -2.9 PAT margin %
-201 bps +397 bps
-5.1% -9.1% -3.1% EPS (₹)
loss widened loss narrowed -0.32 -0.52 -0.12
Quality of profit
Pre-tax profit −₹7.8 Cr: core business −₹10.1 Cr, other income ₹2.3 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY26 cash from operations −₹153 Cr:
-534% of FY26 net profit of ₹28.6 Cr.
Borrowings ₹314 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹149 ₹152
+2.1% in line
M Cap ₹2,095 Cr
P/E 22.0
PEG 3.14
Profit -30% below its own trend Operating margin contracted 788 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-44.0% +8.9%
147 135 263 Operating profit
-55.5% +10.5%
45.0 40.7 101 OPM %
-788 bps +44 bps
30.6% 30.2% 38.5% Other income
+129.8% +8.4%
8.0 7.4 3.5 Net profit?
-55.9% +27.6%
26.0 20.4 58.9 PAT margin %
-474 bps +259 bps
17.7% 15.1% 22.4% EPS (₹)
-56.5% +25.7%
8.26 6.57 19.00
Quality of profit
Pre-tax profit ₹35.0 Cr: core business ₹28.0 Cr, other income ₹8.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: -64.6%
· reported profit -55.9%
Cash & debt
FY26 cash from operations ₹183 Cr:
226% of FY26 net profit of ₹81.0 Cr.
Borrowings ₹429 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹196 ₹147
-25.0% below Net profit ₹37.0 ₹26.0
-29.8% below
Into loss: a profit a year ago Profit -316% below its own trend Operating margin contracted 2614 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+9.0% +0.2%
152 152 139 Operating profit
to loss to loss -25.0 4.3 13.5 OPM %
-2614 bps -1926 bps
-16.4% 2.8% 9.7% Other income
+269.4% +45.2%
14.0 9.6 3.8 Net profit?
to loss to loss -15.0 3.4 13.9 PAT margin %
-1984 bps -1212 bps
-9.9% 2.3% 10.0% EPS (₹)
to loss to loss -0.04 0.02 0.04
Quality of profit
Pre-tax profit −₹16.0 Cr: core business −₹31.0 Cr, other income ₹14.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: to loss
Cash & debt
FY26 cash from operations −₹4.0 Cr.
Borrowings ₹35.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹116 ₹152
+30.8% above Net profit ₹7.0 −₹15.0
-315.8% below
M Cap ₹2,095 Cr
P/E 33.6
PEG —
Profit -17% below its own trend Operating margin expanded 295 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+17.1% +8.0%
228 211 195 Operating profit
+52.6% +20.0%
29.0 24.2 19.0 OPM %
+295 bps +127 bps
12.7% 11.4% 9.8% Other income
-22.1% -34.6%
3.0 4.6 3.9 Net profit?
+47.5% +9.3%
19.0 17.4 12.9 PAT margin %
+172 bps +9 bps
8.3% 8.2% 6.6% EPS (₹)
+51.2% +6.3%
16.15 15.19 10.68
Quality of profit
Pre-tax profit ₹27.0 Cr: core business ₹24.0 Cr, other income ₹3.0 Cr.
Core profit YoY: +64.6%
· reported profit +47.5%
Against its own trend ?
Trend Actual Gap
Sales ₹389 ₹228
-41.4% below Net profit ₹22.9 ₹19.0
-17.1% below
M Cap ₹2,092 Cr
P/E 1.2
PEG 0.02
Profit -29% below its own trend Operating margin expanded 437 bps YoY 41% of pre-tax profit came from other income and one-off items FY26 operating cash flow was only 3% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-9.3% +17.2%
135 115 149 Operating profit
+23.9% +3.7%
22.0 21.2 17.8 OPM %
+437 bps -213 bps
16.3% 18.4% 11.9% Other income
+116.1% +172.7%
15.0 5.5 6.9 Net profit?
+41.3% +32.2%
25.0 18.9 17.7 PAT margin %
+663 bps +210 bps
18.5% 16.4% 11.9% EPS (₹)
+68.8% +17.4%
0.27 0.23 0.16
Quality of profit
Pre-tax profit ₹34.0 Cr: core business ₹20.0 Cr, other income ₹15.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +22.3%
· reported profit +41.3%
Cash & debt
FY26 cash from operations ₹58.0 Cr:
3% of FY26 net profit of ₹1,720 Cr.
Borrowings ₹1.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹249 ₹135
-45.7% below Net profit ₹35.4 ₹25.0
-29.4% below
M Cap ₹2,089 Cr
P/E 57.9
PEG 1.70
Operating margin expanded 490 bps YoY Core business grew faster than reported profit (core profit +156%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+42.2% +1.1%
71.1 70.3 50.0 Operating profit
+64.0% +41.1%
26.2 18.6 16.0 OPM %
+490 bps +1047 bps
36.9% 26.4% 32.0% Other income
— -66.3%
0.2 0.5 0.0 Net profit
+83.7% +7.6%
11.0 10.2 6.0 PAT margin %
+351 bps +94 bps
15.5% 14.6% 12.0% EPS (₹)
+89.3% +8.1%
4.96 4.59 2.62
Quality of profit
Pre-tax profit ₹18.1 Cr: core business ₹17.9 Cr, other income ₹0.2 Cr.
Core profit YoY: +155.6%
· reported profit +83.7%
Cash & debt
FY26 cash from operations ₹49.0 Cr:
161% of FY26 net profit of ₹30.5 Cr.
Borrowings ₹55.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹65.7 ₹71.1
+8.2% above Net profit ₹11.6 ₹11.0
-4.8% in line
M Cap ₹2,088 Cr
P/E 646.5
PEG —
Operating margin expanded 1070 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+22.0% +7.0%
476 445 390 Operating profit
from loss +56.2%
50.0 32.0 -0.8 OPM %
+1070 bps +331 bps
10.5% 7.2% -0.2% Other income
+98.0% from loss 4.0 -5.0 2.0 Net profit?
loss narrowed loss narrowed -24.0 -29.0 -41.3 PAT margin %
+555 bps +147 bps
-5.0% -6.5% -10.6% EPS (₹)
loss narrowed loss narrowed -2.34 -3.23 -4.48
Quality of profit
Pre-tax profit −₹25.0 Cr: core business −₹28.0 Cr, other income ₹4.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY26 cash from operations ₹192 Cr.
Borrowings ₹1,090 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹409 ₹476
+16.2% above
M Cap ₹2,080 Cr
P/E 50.3
PEG 1.57
Operating margin contracted 242 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+19.2% +3.6%
185 178 155 Operating profit
+8.4% +0.2%
45.0 44.9 41.5 OPM %
-242 bps -84 bps
24.3% 25.2% 26.7% Other income
-59.3% -34.2%
1.0 1.5 2.5 Net profit?
+391.7% +678.3%
25.0 3.2 5.1 PAT margin %
+1024 bps +1171 bps
13.5% 1.8% 3.3% EPS (₹)
+361.4% +669.0%
6.69 0.87 1.45
Quality of profit
Pre-tax profit ₹22.0 Cr: core business ₹21.0 Cr, other income ₹1.0 Cr.
Core profit YoY: +322.8%
· reported profit +391.7%
Cash & debt
FY26 cash from operations ₹134 Cr:
320% of FY26 net profit of ₹41.9 Cr.
Borrowings ₹43.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹185 ₹185
+0.2% in line
M Cap ₹2,073 Cr
P/E 4.3
PEG 0.29
Gross NPA down 71 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Total income
+4.6% -0.4%
455 457 435 Net interest income
+15.0% -0.5%
207 208 180 Other income
-88.9% —
1.0 0.0 9.0 Net profit?
+11.6% +17.4%
135 115 121 EPS (₹)
+12.0% +17.1%
21.61 18.45 19.29 Gross NPA %
-71 bps -37 bps
2.5% 2.9% 3.3% Net NPA %
-14 bps -21 bps
1.2% 1.4% 1.3%
Against its own trend ?
Trend Actual Gap
NII ₹192 ₹207
+7.9% above Net profit ₹123 ₹135
+9.6% in line
M Cap ₹2,057 Cr
P/E 84.0
PEG —
Into loss: a profit a year ago Profit -574% below its own trend Operating margin contracted 896 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+98.4% -3.5%
97.5 101 49.2 Operating profit
to loss to loss -3.8 21.6 2.5 OPM %
-896 bps -2520 bps
-3.9% 21.3% 5.1% Other income
+417.8% -25.3%
0.8 1.0 0.1 Net profit?
to loss to loss -12.4 19.2 1.3 PAT margin %
-1542 bps -3178 bps
-12.8% 19.0% 2.7% EPS (₹)
to loss to loss -0.19 0.30 0.09
Quality of profit
Pre-tax profit −₹7.6 Cr: core business −₹8.4 Cr, other income ₹0.8 Cr.
Core profit YoY: to loss
Against its own trend ?
Trend Actual Gap
Sales ₹98.3 ₹97.5
-0.8% in line Net profit ₹2.6 −₹12.4
-574.0% below
M Cap ₹2,056 Cr
P/E 10.3
PEG 0.04
Profit -24% below its own trend Operating margin contracted 327 bps YoY Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+105.5% +3.7%
672 648 327 Operating profit
+64.8% -1.1%
89.0 90.0 54.0 OPM %
-327 bps -64 bps
13.2% 13.9% 16.5% Other income
+300.0% —
4.0 0.0 1.0 Net profit?
+51.4% -1.9%
53.0 54.0 35.0 PAT margin %
-282 bps -45 bps
7.9% 8.3% 10.7% EPS (₹)
+44.6% -1.8%
20.86 21.25 14.43
Quality of profit
Pre-tax profit ₹74.0 Cr: core business ₹70.0 Cr, other income ₹4.0 Cr.
Core profit YoY: +42.9%
· reported profit +51.4%
Cash & debt
FY26 cash from operations −₹116 Cr:
-57% of FY26 net profit of ₹202 Cr.
Borrowings ₹537 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹654 ₹672
+2.8% in line Net profit ₹70.0 ₹53.0
-24.3% below
₹ Cr QoQ
Mar 2026 Dec 2025
Sales
-39.4%
203 335 Operating profit
-77.8%
5.1 22.8 OPM %
-432 bps
2.5% 6.8% Other income
-31.4%
1.7 2.5 Net profit?
loss widened -46.9 -10.5 PAT margin %
-1995 bps
-23.1% -3.1% EPS (₹)
loss widened -0.96 -0.22
Quality of profit
Pre-tax profit −₹49.7 Cr: core business −₹51.2 Cr, other income ₹1.7 Cr.
Operating margin expanded 608 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+45.8% +40.2%
388 277 266 Operating profit
from loss from loss 0.3 -32.3 -16.0 OPM %
+608 bps +1174 bps
0.1% -11.7% -6.0% Other income
-36.7% -74.4%
1.9 7.4 3.0 Net profit?
loss narrowed loss narrowed -54.3 -67.9 -62.0 PAT margin %
+931 bps +1052 bps
-14.0% -24.5% -23.3% EPS (₹)
loss narrowed loss narrowed -4.03 -5.12 -4.48
Quality of profit
Pre-tax profit −₹48.9 Cr: core business −₹50.2 Cr, other income ₹1.9 Cr, exceptional & other items −₹0.6 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY26 cash from operations −₹87.0 Cr.
Borrowings ₹713 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹236 ₹388
+64.6% above
M Cap ₹2,051 Cr
P/E 30.7
PEG 0.73
Profit -50% below its own trend Operating margin contracted 940 bps YoY 48% of pre-tax profit came from other income and one-off items FY26 operating cash flow was only 42% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+15.8% -21.2%
137 175 119 Operating profit
-54.4% -76.2%
8.4 35.3 18.4 OPM %
-940 bps -1411 bps
6.1% 20.2% 15.5% Other income
+702.9% +992.0%
5.5 0.5 0.7 Net profit
-25.5% -68.0%
8.3 25.9 11.1 PAT margin %
-334 bps -882 bps
6.0% 14.9% 9.4% EPS (₹)
-27.3% -69.2%
0.08 0.26 0.11
Quality of profit
Pre-tax profit ₹11.4 Cr: core business ₹5.9 Cr, other income ₹5.5 Cr.
Core profit YoY: -31.6%
· reported profit -25.5%
Cash & debt
FY26 cash from operations ₹27.0 Cr:
42% of FY26 net profit of ₹63.7 Cr.
Borrowings ₹39.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹119 ₹137
+15.8% above Net profit ₹16.5 ₹8.3
-49.7% below
M Cap ₹2,036 Cr
P/E 22.3
PEG 0.56
Profit -32% below its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+7.3% +18.8%
355 299 331 Operating profit
+11.8% +11.0%
38.0 34.2 34.0 OPM %
+43 bps -75 bps
10.7% 11.5% 10.3% Other income
+0.0% -46.6%
1.0 1.9 1.0 Net profit
+0.0% +7.0%
24.0 22.4 24.0 PAT margin %
-49 bps -74 bps
6.8% 7.5% 7.3% EPS (₹)
+2.7% +7.8%
4.99 4.63 4.86
Quality of profit
Pre-tax profit ₹32.0 Cr: core business ₹32.0 Cr, other income ₹1.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +10.3%
· reported profit +0.0%
Cash & debt
FY26 cash from operations ₹62.0 Cr:
73% of FY26 net profit of ₹84.6 Cr.
Borrowings ₹43.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹407 ₹355
-12.8% below Net profit ₹35.3 ₹24.0
-32.1% below
Profit +612% above its own trend Operating margin expanded 887 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-4.5% +7.4%
217 202 227 Operating profit
— +8.2%
19.4 17.9 0.1 OPM %
+887 bps +6 bps
8.9% 8.9% 0.1% Other income
-39.2% +10.2%
3.2 2.9 5.3 Net profit
+271.2% +49.9%
20.5 13.7 5.5 PAT margin %
+702 bps +268 bps
9.5% 6.8% 2.4% EPS (₹)
+273.3% +49.3%
1.12 0.75 0.30
Quality of profit
Pre-tax profit ₹20.4 Cr: core business ₹17.2 Cr, other income ₹3.2 Cr.
Core profit YoY: from loss
· reported profit +271.2%
Against its own trend ?
Trend Actual Gap
Sales ₹215 ₹217
+0.7% in line Net profit ₹2.9 ₹20.5
+612.1% above
M Cap ₹2,006 Cr
P/E 20.9
PEG 1.61
Operating margin expanded 447 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+15.0% -4.3%
253 264 220 Operating profit
+34.5% -18.0%
78.0 95.2 58.0 OPM %
+447 bps -516 bps
30.8% 36.0% 26.4% Other income
+0.0% +35.6%
3.0 2.2 3.0 Net profit
+26.1% -35.7%
29.0 45.1 23.0 PAT margin %
+101 bps -559 bps
11.5% 17.1% 10.5% EPS (₹)
+29.7% -35.3%
3.49 5.39 2.69
Quality of profit
Pre-tax profit ₹39.0 Cr: core business ₹35.0 Cr, other income ₹3.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +34.6%
· reported profit +26.1%
Cash & debt
FY26 cash from operations ₹199 Cr:
208% of FY26 net profit of ₹95.8 Cr.
Borrowings ₹544 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹259 ₹253
-2.1% in line Net profit ₹29.5 ₹29.0
-1.7% in line
M Cap ₹2,002 Cr
P/E 99.2
PEG 3.67
Profit +265% above its own trend Operating margin expanded 319 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
+10.3% +22.2%
396 324 359 Operating profit
loss narrowed loss narrowed -1.6 -27.5 -12.8 OPM %
+319 bps +809 bps
-0.4% -8.5% -3.6% Other income
+14.8% +57.4%
41.9 26.6 36.5 Net profit?
+82.3% from loss 21.0 -9.8 11.5 PAT margin %
+210 bps +836 bps
5.3% -3.0% 3.2% EPS (₹)
+82.1% from loss 1.02 -0.48 0.56
Quality of profit
Pre-tax profit ₹28.2 Cr: core business −₹13.6 Cr, other income ₹41.9 Cr.
Core profit YoY: loss narrowed
· reported profit +82.3%
Cash & debt
FY26 cash from operations −₹182 Cr:
-676% of FY26 net profit of ₹26.9 Cr.
Borrowings ₹3.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹320 ₹396
+23.8% above Net profit ₹5.8 ₹21.0
+264.6% above
M Cap ₹1,998 Cr
P/E 30.2
PEG —
Profit -58% below its own trend Operating margin contracted 406 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-1.2% +5.2%
671 638 679 Operating profit
-19.5% +118.2%
120 55.0 149 OPM %
-406 bps +926 bps
17.9% 8.6% 21.9% Other income
from loss from loss 3.0 -2.0 -1.0 Net profit
-22.2% +229.4%
56.0 17.0 72.0 PAT margin %
-226 bps +568 bps
8.3% 2.7% 10.6% EPS (₹)
-22.4% +233.1%
27.78 8.34 35.81
Quality of profit
Pre-tax profit ₹85.0 Cr: core business ₹83.0 Cr, other income ₹3.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: -24.5%
· reported profit -22.2%
Cash & debt
FY26 cash from operations ₹158 Cr:
272% of FY26 net profit of ₹58.0 Cr.
Borrowings ₹1,407 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹710 ₹671
-5.5% below Net profit ₹135 ₹56.0
-58.4% below
M Cap ₹1,997 Cr
P/E 4.9
PEG 0.27
Profit +700% above its own trend Operating margin expanded 316 bps YoY 87% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +46%) FY26 operating cash flow was only 42% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+27.2% +16.6%
159 136 125 Operating profit
+42.4% +11.4%
47.0 42.2 33.0 OPM %
+316 bps -137 bps
29.6% 30.9% 26.4% Other income
— —
285 1.9 6.0 Net profit?
+814.3% +765.1%
320 37.0 35.0 EPS (₹)
+818.9% +764.4%
51.00 5.90 5.55
Quality of profit
Pre-tax profit ₹326 Cr: core business ₹41.0 Cr, other income ₹285 Cr.
Core profit YoY: +46.4%
· reported profit +814.3%
Cash & debt
FY26 cash from operations ₹173 Cr:
42% of FY26 net profit of ₹411 Cr.
Borrowings ₹128 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹134 ₹159
+18.2% above Net profit ₹40.0 ₹320
+700.4% 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, 03:48 IST
