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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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 44 of 171
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M Cap ₹1,604 Cr
P/E 39.1
PEG 7.82
Profit +72% above its own trend Operating margin expanded 960 bps YoY Core business grew faster than reported profit (core profit +136%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+36.3% +13.0%
87.0 77.0 63.8 Operating profit
+119.8% +57.1%
22.0 14.0 10.0 OPM %
+960 bps +711 bps
25.3% 18.2% 15.7% Other income
-40.6% -50.0%
1.0 2.0 1.7 Net profit?
+111.9% +55.6%
14.0 9.0 6.6 PAT margin %
+574 bps +440 bps
16.1% 11.7% 10.4% EPS (₹)
+108.5% +49.1%
2.46 1.65 1.18
Quality of profit
Pre-tax profit ₹18.0 Cr: core business ₹18.0 Cr, other income ₹1.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +135.5%
· reported profit +111.9%
Cash & debt
FY26 cash from operations ₹23.0 Cr:
60% of FY26 net profit of ₹38.2 Cr.
Borrowings ₹47.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹74.4 ₹87.0
+16.9% above Net profit ₹8.2 ₹14.0
+71.6% above
M Cap ₹1,600 Cr
P/E 22.2
PEG 0.93
Profit -41% below its own trend Operating margin contracted 111 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-0.6% -12.3%
218 249 219 Operating profit
-10.4% +0.3%
22.1 22.1 24.7 OPM %
-111 bps +128 bps
10.1% 8.9% 11.3% Other income
-19.7% -55.7%
2.0 4.5 2.5 Net profit?
-22.2% -28.8%
12.9 18.1 16.5 PAT margin %
-164 bps -137 bps
5.9% 7.3% 7.5% EPS (₹)
-22.3% -28.8%
3.98 5.59 5.12
Quality of profit
Pre-tax profit ₹17.4 Cr: core business ₹15.4 Cr, other income ₹2.0 Cr.
Core profit YoY: -13.7%
· reported profit -22.2%
Cash & debt
FY26 cash from operations ₹102 Cr:
146% of FY26 net profit of ₹70.1 Cr.
Borrowings ₹130 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹270 ₹218
-19.2% below Net profit ₹21.8 ₹12.9
-40.9% below
M Cap ₹1,589 Cr
P/E 37.9
PEG 0.70
Operating margin expanded 270 bps YoY FY26 operating cash flow was only 47% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+16.2% +13.1%
99.5 88.0 85.7 Operating profit
+33.6% +49.9%
20.6 13.7 15.4 OPM %
+270 bps +508 bps
20.7% 15.6% 18.0% Other income
— +17.5%
1.0 0.9 0.0 Net profit?
+43.4% +18.1%
13.2 11.2 9.2 PAT margin %
+252 bps +57 bps
13.3% 12.7% 10.8% EPS (₹)
+42.5% +19.5%
1.04 0.87 0.73
Quality of profit
Pre-tax profit ₹17.9 Cr: core business ₹16.9 Cr, other income ₹1.0 Cr.
Core profit YoY: +36.5%
· reported profit +43.4%
Cash & debt
FY26 cash from operations ₹17.0 Cr:
47% of FY26 net profit of ₹36.1 Cr.
Borrowings ₹33.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹98.7 ₹99.5
+0.8% in line Net profit ₹13.9 ₹13.2
-4.7% in line
M Cap ₹1,589 Cr
P/E 46.7
PEG —
Operating margin expanded 329 bps YoY All of pre-tax profit came from other income or one-off items Exceptional items of ₹12.0 Cr in the quarter
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+0.2% —
514 43.0 513 Operating profit
+39.5% —
60.0 1.0 43.0 OPM %
+329 bps +935 bps
11.7% 2.3% 8.4% Other income
+4.5% +475.0%
23.0 4.0 22.0 Net profit?
-20.0% +900.0%
20.0 2.0 25.0 PAT margin %
-98 bps -76 bps
3.9% 4.7% 4.9% EPS (₹)
-48.0% —
0.13 0.01 0.25
Quality of profit
Pre-tax profit ₹16.0 Cr: core business −₹7.0 Cr, other income ₹23.0 Cr.
Core profit YoY: loss narrowed
· reported profit -20.0%
Cash & debt
FY26 cash from operations ₹315 Cr:
3938% of FY26 net profit of ₹8.0 Cr.
Borrowings ₹693 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹256 ₹514
+100.4% above
28% of pre-tax profit came from other income and one-off items
₹ Cr
Mar 2026
Sales
788 Operating profit
35.0 OPM %
4.4% Other income
7.0 Net profit?
22.0 PAT margin %
2.8% EPS (₹)
1.27
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 ₹25.0 Cr: core business ₹18.0 Cr, other income ₹7.0 Cr.
M Cap ₹1,580 Cr
P/E 14.2
PEG 0.52
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+13.3% +60.1%
622 388 549 Operating profit
+2.6% +49.4%
58.0 38.8 56.5 OPM %
-97 bps -67 bps
9.3% 10.0% 10.3% Other income
-5.6% +122.5%
2.0 0.9 2.1 Net profit?
+10.5% +88.3%
33.0 17.5 29.9 PAT margin %
-13 bps +79 bps
5.3% 4.5% 5.4% EPS (₹)
+11.2% +77.2%
5.74 3.24 5.16
Quality of profit
Pre-tax profit ₹43.0 Cr: core business ₹41.0 Cr, other income ₹2.0 Cr.
Core profit YoY: +5.4%
· reported profit +10.5%
Cash & debt
FY26 cash from operations ₹139 Cr:
130% of FY26 net profit of ₹107 Cr.
Borrowings ₹291 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹591 ₹622
+5.2% above Net profit ₹33.2 ₹33.0
-0.6% in line
M Cap ₹1,577 Cr
P/E 16.7
PEG 0.88
Profit -24% below its own trend Operating margin contracted 896 bps YoY 43% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -57%) Borrowings up 40% since Jun 2025
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-0.6% +2.3%
136 133 137 Operating profit
-26.8% -24.4%
34.0 45.0 46.4 OPM %
-896 bps -883 bps
25.0% 33.8% 34.0% Other income
+384.6% from loss 12.0 -9.0 2.5 Net profit?
-30.6% +50.0%
21.0 14.0 30.2 PAT margin %
-668 bps +491 bps
15.4% 10.5% 22.1% EPS (₹)
-29.3% +53.3%
14.32 9.34 20.26
Quality of profit
Pre-tax profit ₹30.0 Cr: core business ₹17.0 Cr, other income ₹12.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: -56.7%
· reported profit -30.6%
Cash & debt
Borrowings ₹87.0 Cr at Dec 2025, against ₹62.0 Cr at Jun 2025 (+40% ).
Against its own trend ?
Trend Actual Gap
Sales ₹142 ₹136
-4.0% in line Net profit ₹27.6 ₹21.0
-23.9% below
M Cap ₹1,575 Cr
P/E 9.4
PEG —
Into loss: a profit a year ago Profit -999% below its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+18.9% +0.8%
2,36,864 2,35,098 1,99,190 Operating profit
loss widened to loss -225 114 -14.0 OPM %
-9 bps -14 bps
-0.1% 0.0% -0.0% Other income
+346.3% —
241 11.0 54.0 Net profit?
to loss to loss -54.0 71.0 2.0 PAT margin %
-2 bps -5 bps
-0.0% 0.0% 0.0% EPS (₹)
to loss to loss -1.81 2.42 0.07
Quality of profit
Pre-tax profit −₹40.0 Cr: core business −₹280 Cr, other income ₹241 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: loss widened
Cash & debt
FY26 cash from operations ₹372 Cr:
334% of FY26 net profit of ₹111 Cr.
Borrowings ₹1,016 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹3,98,380 ₹2,36,864
-40.5% below Net profit ₹4.0 −₹54.0
-999.0% below
M Cap ₹1,573 Cr
P/E 29.2
PEG 1.39
Operating margin expanded 467 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-9.2% -5.3%
168 177 185 Operating profit
+19.9% +38.1%
32.4 23.4 27.0 OPM %
+467 bps +606 bps
19.3% 13.2% 14.6% Other income
-37.5% +356.2%
1.2 0.3 2.0 Net profit
+10.5% +34.4%
18.8 14.0 17.0 PAT margin %
+199 bps +330 bps
11.2% 7.9% 9.2% EPS (₹)
+9.8% +34.6%
2.92 2.17 2.66
Quality of profit
Pre-tax profit ₹24.9 Cr: core business ₹23.7 Cr, other income ₹1.2 Cr.
Core profit YoY: +3.0%
· reported profit +10.5%
Cash & debt
FY26 cash from operations ₹28.0 Cr:
54% of FY26 net profit of ₹51.8 Cr.
Borrowings ₹54.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹182 ₹168
-7.5% below Net profit ₹17.5 ₹18.8
+7.3% in line
M Cap ₹1,572 Cr
P/E 29.2
PEG —
Profit +140% above its own trend Operating margin expanded 386 bps YoY Core business grew faster than reported profit (core profit +917%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+2.3% +1.5%
616 607 603 Operating profit
+139.3% -1.6%
41.5 42.2 17.3 OPM %
+386 bps -22 bps
6.7% 6.9% 2.9% Other income
to loss to loss -14.9 4.6 4.0 Net profit
+99.0% -60.7%
9.7 24.6 4.9 PAT margin %
+76 bps -249 bps
1.6% 4.1% 0.8% EPS (₹)
+99.1% -60.7%
4.20 10.68 2.11
Quality of profit
Pre-tax profit ₹13.3 Cr: core business ₹28.3 Cr, other income −₹14.9 Cr.
Core profit YoY: +916.9%
· reported profit +99.0%
Cash & debt
FY26 cash from operations ₹112 Cr:
182% of FY26 net profit of ₹61.5 Cr.
Borrowings ₹27.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹576 ₹616
+7.1% above Net profit ₹4.0 ₹9.7
+139.6% above
M Cap ₹1,570 Cr
P/E 16.3
PEG —
₹ Cr QoQ
Mar 2026 Dec 2025
Sales
+3.5%
364 352 Operating profit
-4.6%
37.9 39.7 OPM %
-88 bps
10.4% 11.3% Other income
+37.8%
5.3 3.8 Net profit?
+5.9%
27.0 25.5 PAT margin %
+17 bps
7.4% 7.3% EPS (₹)
+6.7%
4.76 4.46
Quality of profit
Pre-tax profit ₹35.8 Cr: core business ₹30.5 Cr, other income ₹5.3 Cr.
Into loss: a profit a year ago Profit -189% below its own trend Operating margin contracted 682 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+4.5% +16.5%
538 462 515 Operating profit
to loss to loss -21.0 45.0 15.0 OPM %
-682 bps -1364 bps
-3.9% 9.7% 2.9% Other income
-55.6% +33.3%
4.0 3.0 9.0 Net profit?
to loss to loss -33.0 4.5 18.6 PAT margin %
-975 bps -710 bps
-6.1% 1.0% 3.6% EPS (₹)
loss widened to loss -1.08 0.88 -0.26
Quality of profit
Pre-tax profit −₹43.0 Cr: core business −₹46.0 Cr, other income ₹4.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: loss widened
Cash & debt
FY26 cash from operations ₹94.0 Cr.
Borrowings ₹439 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹590 ₹538
-8.9% below Net profit ₹37.3 −₹33.0
-188.6% below
M Cap ₹1,570 Cr
P/E 44.6
PEG 0.99
Operating margin expanded 214 bps YoY Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+48.9% +3.0%
217 211 146 Operating profit
+87.7% -19.6%
22.5 28.0 12.0 OPM %
+214 bps -290 bps
10.4% 13.3% 8.2% Other income
+67.5% +258.4%
1.7 0.5 1.0 Net profit?
+40.1% -27.8%
11.2 15.5 8.0 PAT margin %
-32 bps -219 bps
5.2% 7.4% 5.5% EPS (₹)
+54.3% -16.9%
0.54 0.65 0.35
Quality of profit
Pre-tax profit ₹13.0 Cr: core business ₹11.4 Cr, other income ₹1.7 Cr.
Core profit YoY: +26.3%
· reported profit +40.1%
Cash & debt
FY26 cash from operations −₹2.0 Cr:
-6% of FY26 net profit of ₹31.7 Cr.
Borrowings ₹211 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹150 ₹217
+45.2% above Net profit ₹10.9 ₹11.2
+2.3% in line
M Cap ₹1,566 Cr
P/E 11.5
PEG —
Operating margin expanded 249 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+82.7% +6.4%
149 140 81.6 Operating profit
+98.0% +6.3%
48.0 45.1 24.2 OPM %
+249 bps -3 bps
32.2% 32.2% 29.7% Other income
to loss to loss -0.4 0.2 0.8 Net profit?
+90.7% +4.4%
34.4 32.9 18.0 PAT margin %
+96 bps -46 bps
23.1% 23.5% 22.1% EPS (₹)
+90.7% +4.5%
3.70 3.54 1.94
Quality of profit
Pre-tax profit ₹46.7 Cr: core business ₹47.1 Cr, other income −₹0.4 Cr.
Core profit YoY: +99.4%
· reported profit +90.7%
Cash & debt
FY26 cash from operations ₹78.0 Cr:
64% of FY26 net profit of ₹122 Cr.
Borrowings ₹12.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹163 ₹149
-8.7% below Net profit ₹36.1 ₹34.4
-4.7% in line
M Cap ₹1,565 Cr
P/E 28.5
PEG 0.86
Profit -22% below its own trend FY26 operating cash flow was only 46% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+38.6% +40.8%
142 101 102 Operating profit
+42.8% +55.5%
21.0 13.5 14.7 OPM %
+44 bps +139 bps
14.8% 13.4% 14.3% Other income
-40.4% -15.6%
3.0 3.6 5.0 Net profit?
+23.0% +33.2%
16.0 12.0 13.0 PAT margin %
-143 bps -65 bps
11.3% 11.9% 12.7% EPS (₹)
+22.3% +32.6%
4.27 3.22 3.49
Quality of profit
Pre-tax profit ₹21.0 Cr: core business ₹18.0 Cr, other income ₹3.0 Cr.
Core profit YoY: +38.6%
· reported profit +23.0%
Cash & debt
FY26 cash from operations ₹23.0 Cr:
46% of FY26 net profit of ₹50.4 Cr.
Borrowings ₹29.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹123 ₹142
+15.1% above Net profit ₹20.4 ₹16.0
-21.6% below
M Cap ₹1,559 Cr
P/E 35.4
PEG 0.67
Profit +40% above its own trend
₹ Cr YoY vs prev. half
Mar 2026 Sep 2025 Mar 2025
Sales
+51.1% +50.7%
210 139 139 Operating profit
+43.5% +38.0%
33.0 23.9 23.0 OPM %
-83 bps -144 bps
15.7% 17.2% 16.5% Other income
+33.3% +53.8%
4.0 2.6 3.0 Net profit
+52.9% +43.9%
26.0 18.1 17.0 PAT margin %
+15 bps -58 bps
12.4% 13.0% 12.2% EPS (₹)
+55.3% +38.2%
10.75 7.78 6.92
Quality of profit
Pre-tax profit ₹34.0 Cr: core business ₹30.0 Cr, other income ₹4.0 Cr.
Core profit YoY: +42.9%
· reported profit +52.9%
Cash & debt
FY26 cash from operations ₹19.0 Cr.
Borrowings ₹1.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹146 ₹210
+43.5% above Net profit ₹18.6 ₹26.0
+39.6% above
M Cap ₹1,558 Cr
P/E 48.2
PEG 9.64
Profit -53% below its own trend Operating margin contracted 220 bps YoY 40% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+24.3% +7.6%
677 629 545 Operating profit
-5.3% -21.1%
47.8 60.6 50.5 OPM %
-220 bps -257 bps
7.1% 9.6% 9.3% Other income
+30.4% +69.6%
4.1 2.4 3.1 Net profit?
-6.7% -38.2%
6.9 11.1 7.4 PAT margin %
-34 bps -75 bps
1.0% 1.8% 1.3% EPS (₹)
-18.5% -45.0%
0.44 0.80 0.54
Quality of profit
Pre-tax profit ₹10.1 Cr: core business ₹6.0 Cr, other income ₹4.1 Cr.
Core profit YoY: from loss
· reported profit -6.7%
Cash & debt
FY26 cash from operations ₹326 Cr:
622% of FY26 net profit of ₹52.4 Cr.
Borrowings ₹728 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹572 ₹677
+18.5% above Net profit ₹14.7 ₹6.9
-53.3% below
M Cap ₹1,558 Cr
P/E 91.9
PEG —
Profit -21% below its own trend Operating margin contracted 816 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-11.7% +9.9%
66.8 60.8 75.6 Operating profit
-41.4% +47.0%
10.8 7.3 18.4 OPM %
-816 bps +407 bps
16.1% 12.0% 24.3% Other income
-44.1% -12.6%
1.2 1.4 2.1 Net profit?
-60.5% +70.8%
5.1 3.0 12.9 PAT margin %
-943 bps +272 bps
7.6% 4.9% 17.1% EPS (₹)
-60.5% +70.8%
25.45 14.90 64.45
Quality of profit
Pre-tax profit ₹7.8 Cr: core business ₹6.7 Cr, other income ₹1.2 Cr.
Core profit YoY: -55.7%
· reported profit -60.5%
Cash & debt
FY26 cash from operations ₹22.0 Cr:
151% of FY26 net profit of ₹14.6 Cr.
Borrowings nil at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹81.0 ₹66.8
-17.5% below Net profit ₹6.4 ₹5.1
-21.0% below
M Cap ₹1,557 Cr
P/E 8.1
PEG 0.32
Turnaround: profit against a loss a year ago Gross NPA down 61 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Total income
+30.3% +10.7%
692 625 531 Net interest income
+29.4% +14.4%
317 277 245 Other income
+50.0% +11.1%
90.0 81.0 60.0 Net profit
from loss +35.1%
50.0 37.0 -34.0 EPS (₹)
from loss +36.0%
4.68 3.44 -3.18 Gross NPA %
-61 bps -14 bps
6.5% 6.7% 7.2% Net NPA %
-37 bps -14 bps
4.2% 4.3% 4.6%
Against its own trend ?
Trend Actual Gap
NII ₹217 ₹317
+46.4% above
M Cap ₹1,545 Cr
P/E 99.4
PEG 4.73
Operating margin expanded 273 bps YoY Core business grew faster than reported profit (core profit +160%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+6.8% +18.8%
133 112 125 Operating profit
+39.2% +347.5%
15.6 3.5 11.2 OPM %
+273 bps +861 bps
11.7% 3.1% 9.0% Other income
-12.8% -41.6%
0.8 1.4 0.9 Net profit?
-26.1% from loss 5.8 -0.6 7.8 PAT margin %
-194 bps +488 bps
4.4% -0.5% 6.3% EPS (₹)
-29.0% from loss 4.28 -0.38 6.03
Quality of profit
Pre-tax profit ₹8.0 Cr: core business ₹7.2 Cr, other income ₹0.8 Cr.
Core profit YoY: +160.3%
· reported profit -26.1%
Cash & debt
FY26 cash from operations ₹41.0 Cr:
285% of FY26 net profit of ₹14.4 Cr.
Borrowings ₹115 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹126 ₹133
+5.8% above Net profit ₹6.1 ₹5.8
-4.2% in line
M Cap ₹1,542 Cr
P/E 164.2
PEG 3.16
Profit -75% below its own trend All of pre-tax profit came from other income or one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+31.1% +14.3%
4.4 3.8 3.3 Operating profit
loss narrowed to loss -1.8 1.1 -4.0 OPM %
— -7071 bps
-41.9% 28.8% — Other income
-31.4% +851.3%
4.3 0.4 6.2 Net profit?
-49.0% -35.5%
0.7 1.1 1.4 PAT margin %
-2483 bps -1220 bps
15.8% 28.0% 40.6% EPS (₹)
-54.5% -37.5%
0.05 0.08 0.11
Quality of profit
Pre-tax profit ₹1.0 Cr: core business −₹3.3 Cr, other income ₹4.3 Cr.
Core profit YoY: loss narrowed
· reported profit -49.0%
Cash & debt
FY26 cash from operations ₹16.0 Cr:
143% of FY26 net profit of ₹11.2 Cr.
Borrowings ₹28.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹3.4 ₹4.4
+28.5% above Net profit ₹2.7 ₹0.7
-74.5% below
M Cap ₹1,542 Cr
P/E 16.1
PEG 0.35
Operating margin expanded 398 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+8.9% +46.1%
415 284 381 Operating profit
+51.3% +55.3%
59.0 38.0 39.0 OPM %
+398 bps +84 bps
14.2% 13.4% 10.2% Other income
to loss to loss -1.0 3.0 1.0 Net profit?
+36.4% +50.0%
30.0 20.0 22.0 PAT margin %
+145 bps +19 bps
7.2% 7.0% 5.8% EPS (₹)
+31.3% +58.5%
2.52 1.59 1.92
Quality of profit
Pre-tax profit ₹41.0 Cr: core business ₹42.0 Cr, other income −₹1.0 Cr.
Core profit YoY: +50.0%
· reported profit +36.4%
Cash & debt
FY26 cash from operations ₹64.0 Cr:
67% of FY26 net profit of ₹96.0 Cr.
Borrowings ₹294 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹441 ₹415
-5.8% below Net profit ₹31.5 ₹30.0
-4.9% in line
M Cap ₹1,538 Cr
P/E 27.3
PEG —
Profit +51% above its own trend 29% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+25.7% +53.6%
63.0 41.0 50.1 Operating profit
+27.4% +50.7%
13.0 8.6 10.2 OPM %
+28 bps -40 bps
20.6% 21.0% 20.4% Other income
+33.3% +21.6%
5.0 4.1 3.7 Net profit?
+46.5% +64.6%
15.0 9.1 10.2 PAT margin %
+338 bps +160 bps
23.8% 22.2% 20.4% EPS (₹)
+42.0% +59.5%
4.53 2.84 3.19
Quality of profit
Pre-tax profit ₹17.0 Cr: core business ₹12.0 Cr, other income ₹5.0 Cr.
Core profit YoY: +32.9%
· reported profit +46.5%
Cash & debt
FY26 cash from operations ₹87.0 Cr:
173% of FY26 net profit of ₹50.4 Cr.
Borrowings ₹1.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹55.3 ₹63.0
+13.9% above Net profit ₹9.9 ₹15.0
+51.4% above
M Cap ₹1,529 Cr
P/E 18.1
PEG 0.53
Operating margin expanded 147 bps YoY Profit grew faster than the core business (core profit +85%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+37.7% +5.8%
142 134 103 Operating profit
+48.6% -5.9%
28.2 30.0 19.0 OPM %
+147 bps -248 bps
19.9% 22.4% 18.4% Other income
+75.0% +31.2%
5.2 4.0 3.0 Net profit?
+114.4% +12.8%
21.4 19.0 10.0 PAT margin %
+541 bps +94 bps
15.1% 14.2% 9.7% EPS (₹)
+104.6% +11.1%
2.21 1.99 1.08
Quality of profit
Pre-tax profit ₹27.5 Cr: core business ₹22.2 Cr, other income ₹5.2 Cr.
Core profit YoY: +85.2%
· reported profit +114.4%
Cash & debt
FY26 cash from operations ₹85.0 Cr:
98% of FY26 net profit of ₹86.4 Cr.
Borrowings ₹15.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹125 ₹142
+13.3% above Net profit ₹20.0 ₹21.4
+7.2% in line
M Cap ₹1,523 Cr
P/E 8.8
PEG —
Profit +36% above its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+24.1% +4.3%
200 191 161 Operating profit
— +13.1%
35.9 31.7 — OPM %
— +141 bps
18.0% 16.6% — Other income
+32.9% +131.3%
7.7 3.3 5.8 Net profit?
+38.7% +3.5%
25.7 24.8 18.5 PAT margin %
+136 bps -10 bps
12.9% 13.0% 11.5% EPS (₹)
— —
2.12 — —
Quality of profit
Pre-tax profit ₹31.9 Cr: core business ₹24.9 Cr, other income ₹7.7 Cr, exceptional & other items −₹0.6 Cr.
Core profit YoY: —
· reported profit +38.7%
Against its own trend ?
Trend Actual Gap
Sales ₹198 ₹200
+0.8% in line Net profit ₹18.9 ₹25.7
+35.7% above
M Cap ₹1,521 Cr
P/E 48.8
PEG 0.55
Profit -73% below its own trend Operating margin contracted 204 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
-13.7% -26.4%
189 257 219 Operating profit
-36.3% -51.7%
10.9 22.5 17.1 OPM %
-204 bps -301 bps
5.8% 8.8% 7.8% Other income
+8.0% +116.9%
10.4 4.8 9.6 Net profit?
-46.1% -1.6%
8.2 8.3 15.2 PAT margin %
-261 bps +109 bps
4.3% 3.2% 7.0% EPS (₹)
-46.4% -1.9%
0.52 0.53 0.97
Quality of profit
Pre-tax profit ₹5.7 Cr: core business −₹4.7 Cr, other income ₹10.4 Cr.
Core profit YoY: to loss
· reported profit -46.1%
Cash & debt
FY26 cash from operations ₹76.0 Cr:
162% of FY26 net profit of ₹46.8 Cr.
Borrowings ₹103 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹385 ₹189
-50.9% below Net profit ₹30.4 ₹8.2
-73.1% below
₹ Cr
Mar 2026
Sales
354 Operating profit
39.0 OPM %
11.0% Other income
0.0 Net profit
24.0 PAT margin %
6.8% EPS (₹)
0.93
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 ₹31.0 Cr: core business ₹30.0 Cr, other income ₹0.0 Cr, exceptional & other items ₹1.0 Cr.
M Cap ₹1,518 Cr
P/E 28.4
PEG —
Profit -56% below its own trend Operating margin contracted 517 bps YoY 81% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -89%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-4.2% +0.6%
196 195 205 Operating profit
-20.5% -4.7%
49.6 52.1 62.4 OPM %
-517 bps -142 bps
25.3% 26.7% 30.5% Other income
+26.4% +65.8%
8.4 5.1 6.6 Net profit
-60.0% +10.9%
8.0 7.2 19.9 PAT margin %
-566 bps +37 bps
4.1% 3.7% 9.7% EPS (₹)
-60.1% +10.5%
1.47 1.33 3.68
Quality of profit
Pre-tax profit ₹10.4 Cr: core business ₹2.0 Cr, other income ₹8.4 Cr.
Core profit YoY: -89.3%
· reported profit -60.0%
Cash & debt
FY26 cash from operations ₹165 Cr:
279% of FY26 net profit of ₹59.2 Cr.
Borrowings ₹532 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹214 ₹196
-8.3% below Net profit ₹18.2 ₹8.0
-56.4% below
Operating margin expanded 2199 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+34.9% +87.8%
371 198 275 Operating profit
from loss from loss 60.0 -28.0 -16.0 OPM %
+2199 bps +3035 bps
16.2% -14.2% -5.8% Other income
+829.1% —
511 21.0 55.0 Net profit?
loss narrowed loss narrowed -307 -897 -828 PAT margin %
— —
-82.7% — — EPS (₹)
loss narrowed loss narrowed -4.87 -14.24 -13.14
Quality of profit
Pre-tax profit −₹307 Cr: core business −₹817 Cr, other income ₹511 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY26 cash from operations ₹176 Cr.
Borrowings ₹35,445 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹309 ₹371
+19.9% above
M Cap ₹1,515 Cr
P/E 16.6
PEG 0.35
Profit -36% below its own trend Operating margin expanded 567 bps YoY 52% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +77%) FY26 operating cash flow was only 8% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-10.6% +6.4%
121 114 135 Operating profit
+56.6% +18.3%
16.0 13.5 10.2 OPM %
+567 bps +134 bps
13.2% 11.9% 7.5% Other income
-28.6% +29.7%
14.0 10.8 19.6 Net profit?
-9.8% +35.4%
21.0 15.5 23.3 PAT margin %
+17 bps +372 bps
17.4% 13.6% 17.2% EPS (₹)
-9.9% +32.6%
1.18 0.89 1.31
Quality of profit
Pre-tax profit ₹27.0 Cr: core business ₹13.0 Cr, other income ₹14.0 Cr.
Core profit YoY: +77.4%
· reported profit -9.8%
Cash & debt
FY26 cash from operations ₹14.0 Cr:
8% of FY26 net profit of ₹168 Cr.
Borrowings nil at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹135 ₹121
-10.0% below Net profit ₹32.8 ₹21.0
-35.9% below
How to read this page
The numbers. Each card is one company's Q4 FY26 results as filed with NSE or BSE, read from the
filing within hours of its release, in ₹ crore. We show the consolidated statement, or the standalone one when
the consolidated figures are a copy of it or have no year-ago quarter to compare with. YoY compares with the same
quarter a year earlier and QoQ with the quarter before (the previous half-year for companies that report every six months).
A swing between profit and loss is described in words: a percentage across it would mislead.
Net profit. On a consolidated statement, net profit is the profit of the whole group for the quarter,
before minority interest. A company's own headline, and the AI read of its filing, often quote the profit
attributable to its shareholders instead, which is lower when subsidiaries are partly owned: Larsen & Toubro's
Q1 FY27 group profit was ₹4,988 Cr, of which ₹4,123 Cr belonged to its shareholders. EPS is worked out on that
attributable profit, so EPS and net profit need not grow at the same rate. On a standalone statement the two
are the same.
Margins. Operating margin (OPM) is operating profit, before depreciation, interest and other income,
as a share of sales; PAT margin is net profit as a share of sales. Their changes are in basis points
(100 bps = 1 percentage point).
Quality of profit. Core profit is operating profit minus interest and depreciation: what the business
itself earned before tax. The rest of pre-tax profit is other income (interest on cash, dividends, gains on
investments) and exceptional or one-off items. We flag a quarter when that share is 25% or more,
and when reported profit grew much faster than core profit. For banks we compare pre-provision profit with net
profit, since a fall in provisions can lift profit without the business growing.
Against its own trend. We do not have analyst consensus estimates, and we do not make them up. Instead
each company is measured against the path it was on: the same quarter last year, grown at the median of its
last four year-on-year growth rates (held between −50% and +100%; at least two growth rates needed). Sales
5% or more above that, or net profit 10% or more above, is "above trend";
as far below is "below trend". It answers "was this quarter better or worse than the company's own recent
run?", which consensus does not.
Cash and debt. Profit is an accounting figure; cash is harder to dress up. For each company we show
its operating cash flow for the last financial year as a share of that year's net profit (flagged under
50%, or when it is negative despite a profit), and its borrowings at the latest balance sheet
against the one six months earlier (flagged at a 25% move). Balance sheets come with the
September and March results, cash-flow statements with the March results.
Price since results. The latest close against the last close before the filing (a filing after 3:30 pm
counts from the next session). It is a fact about the market's reaction, not advice.
Market cap groups. Large cap is the 100 largest companies by market value and mid cap the next 150
(SEBI's ranking); below that, small cap is ₹5,000 Cr or more, micro cap ₹500 Cr or more, nano cap below.
Data source Quarterly results filed by listed companies with NSE and BSE (Regulation 33 of SEBI LODR), read from each filing; share prices from the exchanges; market cap and P/E from our daily fundamentals snapshot.
Last updated 14 Oct 2026, 04:29 IST
