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 ₹1,814 Cr
P/E 1814.3
PEG 100.79
Turnaround: profit against a loss a year ago Operating margin expanded 199 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
+82.4% +10.7%
124 112 68.0 Operating profit
+100.0% +3.7%
28.0 27.0 14.0 OPM %
+199 bps -153 bps
22.6% 24.1% 20.6% Other income
+200.0% +110.0%
21.0 10.0 7.0 Net profit?
from loss +433.3%
16.0 3.0 -10.0 PAT margin %
+2761 bps +1022 bps
12.9% 2.7% -14.7% EPS (₹)
from loss +413.3%
2.31 0.45 -2.46
Quality of profit
Pre-tax profit ₹15.0 Cr: core business −₹7.0 Cr, other income ₹21.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY26 cash from operations ₹63.0 Cr:
6300% of FY26 net profit of ₹1.0 Cr.
Borrowings ₹225 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹82.2 ₹124
+50.8% above
M Cap ₹1,810 Cr
P/E 67.9
PEG —
Profit +170% above its own trend 35% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+25.8% +79.2%
1,008 562 801 Operating profit
+47.6% +14.1%
31.0 27.2 21.0 OPM %
+45 bps -176 bps
3.1% 4.8% 2.6% Other income
+0.0% +43.8%
7.0 4.9 7.0 Net profit?
+180.0% +606.1%
14.0 2.0 5.0 PAT margin %
+76 bps +104 bps
1.4% 0.4% 0.6% EPS (₹)
+190.5% +617.6%
1.22 0.17 0.42
Quality of profit
Pre-tax profit ₹17.0 Cr: core business ₹11.0 Cr, other income ₹7.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: —
· reported profit +180.0%
Cash & debt
FY26 cash from operations ₹21.0 Cr:
84% of FY26 net profit of ₹24.9 Cr.
Borrowings ₹367 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹846 ₹1,008
+19.1% above Net profit ₹5.2 ₹14.0
+170.0% above
M Cap ₹1,809 Cr
P/E 13.2
PEG 0.51
Profit +750% above its own trend Operating margin expanded 1264 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+22.2% +42.3%
100 70.4 81.9 Operating profit
+88.2% +132.3%
36.1 15.5 19.2 OPM %
+1264 bps +1397 bps
36.1% 22.1% 23.4% Other income
from loss +0.0%
2.0 2.0 -5.6 Net profit?
+973.7% +83.8%
16.5 9.0 1.5 PAT margin %
+1465 bps +374 bps
16.5% 12.8% 1.9% EPS (₹)
+968.7% +88.7%
19.45 10.31 1.82
Quality of profit
Pre-tax profit ₹25.0 Cr: core business ₹25.1 Cr, other income ₹2.0 Cr, exceptional & other items −₹2.1 Cr.
Core profit YoY: +167.4%
· reported profit +973.7%
Cash & debt
FY26 cash from operations ₹64.0 Cr:
112% of FY26 net profit of ₹57.2 Cr.
Borrowings ₹195 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹84.2 ₹100
+18.9% above Net profit ₹1.9 ₹16.5
+750.1% above
M Cap ₹1,808 Cr
P/E 13.9
PEG 0.73
Operating margin expanded 307 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+3.8% -0.8%
249 251 240 Operating profit
+25.0% +0.0%
45.0 45.0 36.0 OPM %
+307 bps +14 bps
18.1% 17.9% 15.0% Other income
+0.0% from loss 7.0 -2.0 7.0 Net profit?
+20.0% +24.1%
36.0 29.0 30.0 PAT margin %
+196 bps +290 bps
14.5% 11.6% 12.5% EPS (₹)
+19.4% +23.7%
2.71 2.19 2.27
Quality of profit
Pre-tax profit ₹47.0 Cr: core business ₹40.0 Cr, other income ₹7.0 Cr.
Core profit YoY: +29.0%
· reported profit +20.0%
Cash & debt
FY26 cash from operations ₹171 Cr:
128% of FY26 net profit of ₹133 Cr.
Borrowings ₹44.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹292 ₹249
-14.6% below Net profit ₹38.2 ₹36.0
-5.8% in line
M Cap ₹1,804 Cr
P/E 26.3
PEG —
Profit -84% below its own trend Operating margin contracted 883 bps YoY Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-55.3% -39.9%
120 200 270 Operating profit
-71.8% -40.5%
18.3 30.8 64.8 OPM %
-883 bps -15 bps
15.2% 15.3% 24.0% Other income
+37.7% +21.8%
3.1 2.5 2.2 Net profit?
-87.8% -70.4%
5.7 19.3 46.9 PAT margin %
-1265 bps -489 bps
4.7% 9.6% 17.4% EPS (₹)
-88.0% -70.2%
1.01 3.39 8.39
Quality of profit
Pre-tax profit ₹14.8 Cr: core business ₹11.7 Cr, other income ₹3.1 Cr.
Core profit YoY: -80.6%
· reported profit -87.8%
Cash & debt
FY26 cash from operations −₹15.0 Cr:
-16% of FY26 net profit of ₹91.2 Cr.
Borrowings ₹154 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹259 ₹120
-53.4% below Net profit ₹36.5 ₹5.7
-84.4% below
M Cap ₹1,803 Cr
P/E 41.8
PEG —
Profit +117% above its own trend 50% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -33%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+5.8% +12.2%
55.0 49.0 52.0 Operating profit
+6.2% +54.5%
17.0 11.0 16.0 OPM %
+14 bps +846 bps
30.9% 22.4% 30.8% Other income
— +700.0%
8.0 1.0 0.0 Net profit
+30.0% +116.7%
13.0 6.0 10.0 PAT margin %
+441 bps +1139 bps
23.6% 12.2% 19.2% EPS (₹)
+30.0% +102.8%
5.07 2.50 3.90
Quality of profit
Pre-tax profit ₹16.0 Cr: core business ₹8.0 Cr, other income ₹8.0 Cr.
Core profit YoY: -33.3%
· reported profit +30.0%
Cash & debt
FY26 cash from operations ₹54.0 Cr:
135% of FY26 net profit of ₹40.0 Cr.
Borrowings ₹77.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹52.9 ₹55.0
+3.9% in line Net profit ₹6.0 ₹13.0
+117.0% above
M Cap ₹1,802 Cr
P/E 16.6
PEG 4.14
Operating margin contracted 2385 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+50.4% -19.7%
773 963 514 Operating profit
-64.0% -4.5%
58.0 60.7 161 OPM %
-2385 bps +120 bps
7.5% 6.3% 31.4% Other income
to loss to loss -1.0 2.3 6.2 Net profit?
+30.4% -9.7%
30.0 33.2 23.0 PAT margin %
-59 bps +43 bps
3.9% 3.4% 4.5% EPS (₹)
+28.6% +0.7%
3.01 2.99 2.34
Quality of profit
Pre-tax profit ₹37.0 Cr: core business ₹37.0 Cr, other income −₹1.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: -53.1%
· reported profit +30.4%
Cash & debt
FY26 cash from operations ₹54.0 Cr:
60% of FY26 net profit of ₹89.8 Cr.
Borrowings ₹641 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹647 ₹773
+19.5% above Net profit ₹28.3 ₹30.0
+6.1% in line
M Cap ₹1,793 Cr
P/E 41.7
PEG 0.43
Operating margin expanded 288 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+41.3% +1.6%
65.0 64.0 46.0 Operating profit
+60.0% +14.3%
16.0 14.0 10.0 OPM %
+288 bps +274 bps
24.6% 21.9% 21.7% Other income
+100.0% +100.0%
2.0 1.0 1.0 Net profit?
+85.7% +30.0%
13.0 10.0 7.0 PAT margin %
+478 bps +438 bps
20.0% 15.6% 15.2% EPS (₹)
+62.8% +26.5%
8.58 6.78 5.27
Quality of profit
Pre-tax profit ₹17.0 Cr: core business ₹15.0 Cr, other income ₹2.0 Cr.
Core profit YoY: +66.7%
· reported profit +85.7%
Cash & debt
FY26 cash from operations ₹86.0 Cr:
210% of FY26 net profit of ₹41.0 Cr.
Borrowings ₹2.0 Cr at Mar 2026.
M Cap ₹1,792 Cr
P/E 161.4
PEG —
Profit -18% below its own trend Operating margin contracted 452 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
+7.3% +12.1%
121 108 113 Operating profit
-7.4% +8.7%
34.3 31.5 37.0 OPM %
-452 bps -88 bps
28.3% 29.2% 32.9% Other income
+80.7% -3.4%
6.8 7.1 3.8 Net profit?
-59.0% -17.1%
4.2 5.0 10.2 PAT margin %
-560 bps -121 bps
3.5% 4.7% 9.1% EPS (₹)
-58.9% -16.8%
0.79 0.95 1.92
Quality of profit
Pre-tax profit ₹5.8 Cr: core business −₹1.1 Cr, other income ₹6.8 Cr.
Core profit YoY: to loss
· reported profit -59.0%
Cash & debt
FY26 cash from operations ₹118 Cr:
824% of FY26 net profit of ₹14.3 Cr.
Borrowings ₹393 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹118 ₹121
+2.3% in line Net profit ₹5.1 ₹4.2
-18.1% below
M Cap ₹1,792 Cr
P/E 27.8
PEG 0.52
Operating margin expanded 295 bps YoY 79% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+20.7% +582.9%
410 60.0 340 Operating profit
+31.1% —
152 1.5 116 OPM %
+295 bps +3450 bps
37.1% 2.6% 34.1% Other income
-3.9% -34.5%
19.0 29.0 19.8 Net profit?
+104.8% —
23.0 1.5 11.2 PAT margin %
+230 bps +304 bps
5.6% 2.6% 3.3% EPS (₹)
+105.7% +7.3%
3.25 3.03 1.58
Quality of profit
Pre-tax profit ₹24.0 Cr: core business ₹5.0 Cr, other income ₹19.0 Cr.
Core profit YoY: from loss
· reported profit +104.8%
Cash & debt
FY26 cash from operations ₹616 Cr:
1219% of FY26 net profit of ₹50.5 Cr.
Borrowings ₹1,501 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹434 ₹410
-5.5% below Net profit ₹22.4 ₹23.0
+2.5% in line
M Cap ₹1,789 Cr
P/E 12.5
PEG 0.66
Profit -98% below its own trend Operating margin contracted 346 bps YoY 34% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-10.5% +24.5%
351 282 392 Operating profit
-32.1% +72.7%
38.0 22.0 56.0 OPM %
-346 bps +302 bps
10.8% 7.8% 14.3% Other income
-98.0% -85.3%
11.0 75.0 548 Net profit
-95.4% -62.9%
23.0 62.0 499 PAT margin %
— -1543 bps
6.6% 22.0% — EPS (₹)
-95.4% -62.7%
4.36 11.68 94.77
Quality of profit
Pre-tax profit ₹32.0 Cr: core business ₹21.0 Cr, other income ₹11.0 Cr.
Core profit YoY: -41.7%
· reported profit -95.4%
Cash & debt
FY26 cash from operations ₹294 Cr:
207% of FY26 net profit of ₹142 Cr.
Borrowings ₹417 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹355 ₹351
-1.2% in line Net profit ₹998 ₹23.0
-97.7% below
M Cap ₹1,780 Cr
P/E 18.5
PEG 1.54
Profit -36% below its own trend Operating margin contracted 420 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-9.3% -0.3%
127 127 140 Operating profit
-18.0% +1.0%
50.0 49.5 61.0 OPM %
-420 bps +51 bps
39.4% 38.9% 43.6% Other income
-16.7% -20.3%
5.0 6.3 6.0 Net profit
-17.4% +1.7%
38.0 37.4 46.0 PAT margin %
-294 bps +58 bps
29.9% 29.3% 32.9% EPS (₹)
-18.6% -49.6%
6.18 12.26 7.59
Quality of profit
Pre-tax profit ₹50.0 Cr: core business ₹46.0 Cr, other income ₹5.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: -19.3%
· reported profit -17.4%
Cash & debt
FY26 cash from operations ₹100 Cr:
104% of FY26 net profit of ₹96.1 Cr.
Borrowings ₹4.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹141 ₹127
-10.1% below Net profit ₹59.2 ₹38.0
-35.8% below
M Cap ₹1,778 Cr
P/E 31.3
PEG 0.95
Profit +999% above its own trend Operating margin expanded 778 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+56.8% +16.9%
149 128 95.0 Operating profit
+250.0% -5.9%
21.0 22.3 6.0 OPM %
+778 bps -341 bps
14.1% 17.5% 6.3% Other income
from loss -56.6%
2.0 4.6 -1.0 Net profit?
— -17.1%
13.0 15.7 1.0 PAT margin %
+767 bps -358 bps
8.7% 12.3% 1.1% EPS (₹)
— -14.0%
21.84 25.40 0.87
Quality of profit
Pre-tax profit ₹18.0 Cr: core business ₹15.0 Cr, other income ₹2.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +650.0%
Cash & debt
FY26 cash from operations ₹43.0 Cr:
90% of FY26 net profit of ₹47.6 Cr.
Borrowings ₹108 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹116 ₹149
+28.9% above Net profit ₹1.0 ₹13.0
+999.0% above
M Cap ₹1,770 Cr
P/E 35.9
PEG 3.59
35% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +183%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+51.2% -3.9%
132 137 87.3 Operating profit
+51.7% -7.3%
29.0 31.3 19.1 OPM %
+7 bps -82 bps
22.0% 22.8% 21.9% Other income
+1.2% +29.9%
5.0 3.9 4.9 Net profit?
+84.6% -26.3%
12.0 16.3 6.5 PAT margin %
+164 bps -277 bps
9.1% 11.9% 7.4% EPS (₹)
+73.8% -26.0%
10.48 14.17 6.03
Quality of profit
Pre-tax profit ₹17.0 Cr: core business ₹11.0 Cr, other income ₹5.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +182.8%
· reported profit +84.6%
Cash & debt
FY26 cash from operations ₹92.0 Cr:
190% of FY26 net profit of ₹48.3 Cr.
Borrowings ₹236 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹90.0 ₹132
+46.6% above Net profit ₹11.9 ₹12.0
+1.2% in line
M Cap ₹1,763 Cr
P/E 31.5
PEG —
Profit +531% above its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Total income
-11.6% +10.0%
176 160 199 Net interest income
-16.3% +12.8%
123 109 147 Other income
— —
0.0 0.0 0.0 Net profit?
+215.4% +86.4%
41.0 22.0 13.0 EPS (₹)
+220.8% +84.9%
39.01 21.10 12.16 Gross NPA %
+6 bps -3 bps
3.4% 3.5% 3.4% Net NPA %
+38 bps +14 bps
0.9% 0.8% 0.6%
Against its own trend ?
Trend Actual Gap
NII ₹143 ₹123
-14.1% below Net profit ₹6.5 ₹41.0
+530.8% above
M Cap ₹1,757 Cr
P/E 1.2
PEG 0.01
Profit +62% above its own trend 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
-98.6% +10.0%
2.0 1.8 140 Operating profit
loss widened loss narrowed -8.0 -10.0 -3.6 Other income
+103.8% -46.3%
109 203 53.5 Net profit?
+224.4% -64.3%
75.0 210 23.1 EPS (₹)
+224.6% -64.3%
15.16 42.42 4.67
Quality of profit
Pre-tax profit ₹97.0 Cr: core business −₹13.0 Cr, other income ₹109 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: loss narrowed
· reported profit +224.4%
Cash & debt
FY26 cash from operations −₹34.0 Cr:
-2% of FY26 net profit of ₹1,522 Cr.
Borrowings ₹1.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹70.0 ₹2.0
-97.1% below Net profit ₹46.2 ₹75.0
+62.2% above
Into loss: a profit a year ago Profit -102% below its own trend Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-99.2% -51.7%
1.7 3.5 210 Operating profit
to loss loss widened -5.3 -1.5 153 Other income
-67.1% from loss 2.1 -1.1 6.5 Net profit
to loss loss widened -3.6 -2.3 83.9 EPS (₹)
to loss loss widened -0.97 -0.62 9.21
Quality of profit
Pre-tax profit −₹3.4 Cr: core business −₹5.5 Cr, other income ₹2.1 Cr.
Core profit YoY: to loss
Cash & debt
FY26 cash from operations −₹11.4 Cr:
-511% of FY26 net profit of ₹2.2 Cr.
Borrowings ₹0.1 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹308 ₹1.7
-99.5% below Net profit ₹168 −₹3.6
-102.2% below
M Cap ₹1,752 Cr
P/E 12.8
PEG 0.38
Profit -43% below its own trend 66% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -48%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+0.5% -1.6%
613 623 610 Operating profit
+2.6% -25.9%
40.0 54.0 39.0 OPM %
+13 bps -214 bps
6.5% 8.7% 6.4% Other income
+83.3% +175.0%
22.0 8.0 12.0 Net profit
+0.0% -13.3%
26.0 30.0 26.0 PAT margin %
-2 bps -57 bps
4.2% 4.8% 4.3% EPS (₹)
-2.0% -15.5%
3.39 4.01 3.46
Quality of profit
Pre-tax profit ₹35.0 Cr: core business ₹12.0 Cr, other income ₹22.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: -47.8%
· reported profit +0.0%
Cash & debt
Borrowings ₹144 Cr at Dec 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹597 ₹613
+2.6% in line Net profit ₹45.5 ₹26.0
-42.9% below
M Cap ₹1,751 Cr
P/E 175.3
PEG 7.62
Profit -51% below its own trend Operating margin contracted 553 bps YoY Profit grew faster than the core business (core profit -47%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+11.4% +17.4%
263 224 236 Operating profit
-61.0% +33.9%
7.8 5.9 20.1 OPM %
-553 bps +37 bps
3.0% 2.6% 8.5% Other income
+18.1% —
1.2 0.1 1.1 Net profit
-2.9% +153.0%
4.1 1.6 4.2 PAT margin %
-23 bps +83 bps
1.5% 0.7% 1.8% EPS (₹)
-2.7% +153.1%
2.48 0.98 2.55
Quality of profit
Pre-tax profit ₹5.7 Cr: core business ₹4.4 Cr, other income ₹1.2 Cr.
Core profit YoY: -47.0%
· reported profit -2.9%
Cash & debt
FY26 cash from operations ₹8.0 Cr:
92% of FY26 net profit of ₹8.7 Cr.
Borrowings ₹58.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹274 ₹263
-3.8% in line Net profit ₹8.4 ₹4.1
-51.4% below
M Cap ₹1,744 Cr
P/E 59.7
PEG —
Operating margin contracted 864 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
-2.8% -7.6%
425 460 437 Operating profit
-64.6% -48.0%
21.0 40.4 59.4 OPM %
-864 bps -385 bps
4.9% 8.8% 13.6% Other income
+805.1% —
103 4.6 11.4 Net profit?
— from loss 86.0 -8.2 0.1 PAT margin %
+2021 bps +2202 bps
20.2% -1.8% 0.0% EPS (₹)
from loss from loss 4.59 -1.57 -0.04
Quality of profit
Pre-tax profit ₹80.0 Cr: core business −₹23.0 Cr, other income ₹103 Cr.
Core profit YoY: to loss
Cash & debt
FY26 cash from operations ₹82.0 Cr:
157% of FY26 net profit of ₹52.1 Cr.
Borrowings ₹720 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹472 ₹425
-9.9% below
M Cap ₹1,734 Cr
P/E 60.8
PEG —
Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+19.1% +2.8%
5.8 5.7 4.9 Operating profit
loss widened loss widened -20.3 -5.0 -3.2 Other income
-5.1% -4.2%
20.0 20.9 21.1 Net profit
loss narrowed to loss -0.8 11.1 -224 PAT margin %
— —
-14.5% — — EPS (₹)
loss narrowed to loss -0.02 0.24 -4.82
Quality of profit
Pre-tax profit −₹1.3 Cr: core business −₹21.3 Cr, other income ₹20.0 Cr.
Core profit YoY: loss widened
Cash & debt
FY26 cash from operations −₹61.0 Cr:
-212% of FY26 net profit of ₹28.8 Cr.
Borrowings nil at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹6.8 ₹5.8
-14.0% below
M Cap ₹1,733 Cr
P/E 45.9
PEG 0.69
Turnaround: profit against a loss a year ago Operating margin expanded 361 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+7.4% +27.7%
816 639 760 Operating profit
+73.9% +136.8%
77.0 32.5 44.3 OPM %
+361 bps +435 bps
9.4% 5.1% 5.8% Other income
-44.9% +637.5%
1.0 0.1 1.8 Net profit
from loss —
85.0 5.5 -34.2 PAT margin %
+1492 bps +956 bps
10.4% 0.9% -4.5% EPS (₹)
from loss —
1.51 0.10 -0.65
Quality of profit
Pre-tax profit ₹48.0 Cr: core business ₹46.0 Cr, other income ₹1.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +454.8%
Cash & debt
FY26 cash from operations ₹148 Cr:
439% of FY26 net profit of ₹33.7 Cr.
Borrowings ₹320 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹736 ₹816
+10.9% above
M Cap ₹1,730 Cr
P/E 43.5
PEG —
Turnaround: profit against a loss a year ago Operating margin expanded 4857 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-41.7% -16.7%
35.0 42.0 60.0 Operating profit
from loss —
10.0 0.0 -12.0 OPM %
+4857 bps +2857 bps
28.6% 0.0% -20.0% Other income
loss narrowed to loss -1.0 13.0 -11.0 Net profit?
from loss +0.0%
7.0 7.0 -21.0 PAT margin %
+5500 bps +333 bps
20.0% 16.7% -35.0% EPS (₹)
from loss +191.5%
2.07 0.71 -7.57
Quality of profit
Pre-tax profit ₹8.0 Cr: core business ₹9.0 Cr, other income −₹1.0 Cr.
Core profit YoY: from loss
M Cap ₹1,730 Cr
P/E 18.6
PEG —
Profit -43% below its own trend Operating margin expanded 170 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-11.7% -19.0%
68.0 84.0 77.0 Operating profit
-7.4% -21.9%
25.0 32.0 27.0 OPM %
+170 bps -133 bps
36.8% 38.1% 35.1% Other income
-75.0% -50.0%
3.0 6.0 12.0 Net profit
-38.5% -33.3%
16.0 24.0 26.0 PAT margin %
-1024 bps -504 bps
23.5% 28.6% 33.8% EPS (₹)
-36.8% -32.4%
1.46 2.16 2.31
Quality of profit
Pre-tax profit ₹22.0 Cr: core business ₹19.0 Cr, other income ₹3.0 Cr.
Core profit YoY: -9.5%
· reported profit -38.5%
Cash & debt
FY26 cash from operations ₹68.0 Cr:
74% of FY26 net profit of ₹92.0 Cr.
Borrowings ₹9.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹71.5 ₹68.0
-4.8% in line Net profit ₹28.0 ₹16.0
-42.9% below
M Cap ₹1,730 Cr
P/E 21.2
PEG —
Operating margin expanded 291 bps YoY Core business grew faster than reported profit (core profit +77%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+9.2% +12.7%
524 465 480 Operating profit
+41.7% +684.4%
66.6 8.5 47.0 OPM %
+291 bps +1088 bps
12.7% 1.8% 9.8% Other income
-1.7% -8.3%
4.9 5.4 5.0 Net profit?
+47.7% from loss 28.1 -10.9 19.0 PAT margin %
+140 bps +769 bps
5.4% -2.3% 4.0% EPS (₹)
+47.9% from loss 9.11 -3.52 6.16
Quality of profit
Pre-tax profit ₹40.4 Cr: core business ₹35.5 Cr, other income ₹4.9 Cr.
Core profit YoY: +77.3%
· reported profit +47.7%
Cash & debt
FY26 cash from operations ₹102 Cr:
4602% of FY26 net profit of ₹2.2 Cr.
Borrowings ₹362 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹393 ₹524
+33.4% above
M Cap ₹1,728 Cr
P/E 17.7
PEG 0.98
Profit +81% above its own trend 62% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -17%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+3.7% +6.5%
193 181 186 Operating profit
+3.8% +18.4%
55.0 46.4 53.0 OPM %
+2 bps +287 bps
28.5% 25.6% 28.5% Other income
+629.3% +749.3%
32.0 3.8 4.4 Net profit?
+103.1% +175.5%
42.0 15.2 20.7 PAT margin %
+1065 bps +1335 bps
21.8% 8.4% 11.1% EPS (₹)
+100.9% +172.5%
12.86 4.72 6.40
Quality of profit
Pre-tax profit ₹52.0 Cr: core business ₹20.0 Cr, other income ₹32.0 Cr.
Core profit YoY: -17.4%
· reported profit +103.1%
Cash & debt
FY26 cash from operations ₹143 Cr:
141% of FY26 net profit of ₹102 Cr.
Borrowings ₹534 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹207 ₹193
-6.7% below Net profit ₹23.3 ₹42.0
+80.6% above
M Cap ₹1,726 Cr
P/E 16.3
PEG 2.72
Profit -45% below its own trend Operating margin contracted 1676 bps YoY 29% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-1.7% +2.3%
225 220 229 Operating profit
-52.7% +5.4%
35.0 33.2 74.0 OPM %
-1676 bps +46 bps
15.6% 15.1% 32.3% Other income
-29.4% -20.6%
12.0 15.1 17.0 Net profit?
-46.2% +69.1%
35.0 20.7 65.0 PAT margin %
-1283 bps +615 bps
15.6% 9.4% 28.4% EPS (₹)
-46.7% +66.9%
13.12 7.86 24.60
Quality of profit
Pre-tax profit ₹42.0 Cr: core business ₹30.0 Cr, other income ₹12.0 Cr.
Core profit YoY: -57.7%
· reported profit -46.2%
Cash & debt
FY26 cash from operations ₹117 Cr:
100% of FY26 net profit of ₹117 Cr.
Borrowings ₹9.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹247 ₹225
-9.0% below Net profit ₹63.5 ₹35.0
-44.9% below
M Cap ₹1,726 Cr
P/E 97.8
PEG —
Operating margin expanded 129 bps YoY FY26 operating cash flow was only 20% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+32.0% +54.0%
317 206 240 Operating profit
+53.5% +19.7%
29.1 24.3 18.9 OPM %
+129 bps -263 bps
9.2% 11.8% 7.9% Other income
-30.3% +158.3%
0.6 0.2 0.9 Net profit?
+84.6% -44.6%
4.5 8.0 2.4 PAT margin %
+40 bps -250 bps
1.4% 3.9% 1.0% EPS (₹)
+70.7% -45.9%
1.40 2.59 0.82
Quality of profit
Pre-tax profit ₹5.6 Cr: core business ₹5.0 Cr, other income ₹0.6 Cr.
Core profit YoY: -28.4%
· reported profit +84.6%
Cash & debt
FY26 cash from operations ₹3.0 Cr:
20% of FY26 net profit of ₹15.0 Cr.
Borrowings ₹345 Cr at Mar 2026.
M Cap ₹1,720 Cr
P/E 322.9
PEG —
Profit +461% above its own trend 58% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -10%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+11.5% +12.2%
282 252 253 Operating profit
+1.0% +47.1%
19.5 13.2 19.3 OPM %
-72 bps +163 bps
6.9% 5.3% 7.6% Other income
— +107.7%
4.3 2.1 0.2 Net profit?
+180.5% from loss 4.0 -1.9 1.4 PAT margin %
+85 bps +218 bps
1.4% -0.8% 0.6% EPS (₹)
+183.3% from loss 1.19 -0.57 0.42
Quality of profit
Pre-tax profit ₹7.3 Cr: core business ₹3.1 Cr, other income ₹4.3 Cr.
Core profit YoY: -10.3%
· reported profit +180.5%
Cash & debt
FY26 cash from operations ₹2.0 Cr:
60% of FY26 net profit of ₹3.3 Cr.
Borrowings ₹403 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹288 ₹282
-2.0% in line Net profit ₹0.7 ₹4.0
+461.0% above
Into loss: a profit a year ago Profit -101% below its own trend Operating margin contracted 202 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
-62.3% +71.2%
207 121 550 Operating profit
to loss loss narrowed -0.3 -5.1 10.2 OPM %
-202 bps +409 bps
-0.2% -4.2% 1.9% Other income
-64.2% -21.4%
8.4 10.7 23.5 Net profit?
to loss loss narrowed -0.3 -2.4 20.7 PAT margin %
-391 bps +186 bps
-0.1% -2.0% 3.8% EPS (₹)
to loss loss narrowed -0.03 -0.22 1.86
Quality of profit
Pre-tax profit ₹3.3 Cr: core business −₹5.1 Cr, other income ₹8.4 Cr.
Core profit YoY: to loss
Cash & debt
FY26 cash from operations ₹2.0 Cr.
Borrowings ₹3.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹474 ₹207
-56.2% below Net profit ₹20.8 −₹0.3
-101.4% 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, 03:48 IST
