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.
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 45 of 171
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Into loss: a profit a year ago Profit -314% below its own trend Operating margin contracted 3663 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-46.6% -27.9%
181 251 339 Operating profit
to loss to loss -44.0 19.0 41.8 OPM %
-3663 bps -3188 bps
-24.3% 7.6% 12.3% Other income
to loss to loss -11.0 4.0 1.1 Net profit?
to loss to loss -57.0 5.0 23.7 PAT margin %
-3849 bps -3348 bps
-31.5% 2.0% 7.0% EPS (₹)
to loss to loss -2.67 0.22 1.15
Quality of profit
Pre-tax profit −₹71.0 Cr: core business −₹60.0 Cr, other income −₹11.0 Cr.
Core profit YoY: to loss
Cash & debt
FY26 cash from operations ₹211 Cr:
2097% of FY26 net profit of ₹10.1 Cr.
Borrowings ₹212 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹308 ₹181
-41.3% below Net profit ₹26.6 −₹57.0
-314.5% below
M Cap ₹1,495 Cr
P/E 44.5
PEG —
Operating margin expanded 810 bps YoY Core business grew faster than reported profit (core profit +73%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+22.5% +7.1%
46.4 43.3 37.9 Operating profit
+67.6% +26.2%
14.0 11.1 8.3 OPM %
+810 bps +455 bps
30.1% 25.6% 22.0% Other income
to loss to loss -1.3 0.0 2.1 Net profit?
+19.0% +12.8%
8.7 7.7 7.3 PAT margin %
-56 bps +95 bps
18.8% 17.9% 19.4% EPS (₹)
+19.0% +12.7%
4.70 4.17 3.95
Quality of profit
Pre-tax profit ₹11.9 Cr: core business ₹13.2 Cr, other income −₹1.3 Cr.
Core profit YoY: +73.2%
· reported profit +19.0%
Cash & debt
FY26 cash from operations ₹26.0 Cr:
81% of FY26 net profit of ₹32.0 Cr.
Borrowings ₹2.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹45.7 ₹46.4
+1.4% in line Net profit ₹9.2 ₹8.7
-5.0% in line
M Cap ₹1,494 Cr
P/E 23.5
PEG —
Operating margin contracted 997 bps YoY 54% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-13.1% -11.5%
122 137 140 Operating profit
-45.9% -19.9%
20.0 25.0 37.0 OPM %
-997 bps -172 bps
16.5% 18.2% 26.4% Other income
+263.5% —
14.1 0.9 3.9 Net profit?
-44.2% +54.7%
18.6 12.0 33.3 PAT margin %
-853 bps +655 bps
15.3% 8.8% 23.8% EPS (₹)
-44.2% +51.3%
6.52 4.31 11.68
Quality of profit
Pre-tax profit ₹26.2 Cr: core business ₹12.1 Cr, other income ₹14.1 Cr.
Core profit YoY: -57.0%
· reported profit -44.2%
M Cap ₹1,488 Cr
P/E 0.4
PEG 0.02
FY26 operating cash flow was only 1% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-50.0% -40.0%
15.0 25.0 30.0 Operating profit
loss narrowed loss narrowed -32.0 -60.0 -799 Other income
loss narrowed —
-27.0 0.0 -66.0 Net profit?
loss narrowed loss widened -69.0 -61.0 -999 EPS (₹)
loss narrowed loss widened -3.27 -2.89 -47.22
Quality of profit
Pre-tax profit −₹71.0 Cr: core business −₹45.0 Cr, other income −₹27.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY26 cash from operations ₹42.0 Cr:
1% of FY26 net profit of ₹3,450 Cr.
Borrowings ₹98.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹21.2 ₹15.0
-29.4% below
M Cap ₹1,488 Cr
P/E 23.2
PEG —
Operating margin contracted 767 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
-14.3% -6.8%
474 509 553 Operating profit
-69.9% -47.7%
19.7 37.7 65.5 OPM %
-767 bps -326 bps
4.2% 7.4% 11.8% Other income
+168.4% +151.0%
37.2 14.8 13.9 Net profit?
-59.5% from loss 8.0 -3.5 19.8 PAT margin %
-189 bps +239 bps
1.7% -0.7% 3.6% EPS (₹)
-59.0% from loss 0.32 -0.14 0.78
Quality of profit
Pre-tax profit ₹7.1 Cr: core business −₹30.1 Cr, other income ₹37.2 Cr.
Core profit YoY: to loss
· reported profit -59.5%
Cash & debt
FY26 cash from operations ₹222 Cr:
772% of FY26 net profit of ₹28.7 Cr.
Borrowings ₹726 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹667 ₹474
-28.9% below
M Cap ₹1,478 Cr
P/E 17.8
PEG —
FY26 operating cash flow was only 19% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+44.1% +16.5%
226 194 157 Operating profit
+46.5% +56.5%
36.0 23.0 24.6 OPM %
+26 bps +407 bps
15.9% 11.9% 15.7% Other income
-52.4% -66.7%
1.0 3.0 2.1 Net profit?
+53.2% +29.4%
22.0 17.0 14.4 PAT margin %
+58 bps +97 bps
9.7% 8.8% 9.2% EPS (₹)
+54.3% +27.2%
1.45 1.14 0.94
Quality of profit
Pre-tax profit ₹30.0 Cr: core business ₹30.0 Cr, other income ₹1.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +70.5%
· reported profit +53.2%
Cash & debt
FY26 cash from operations ₹12.0 Cr:
19% of FY26 net profit of ₹64.1 Cr.
Borrowings ₹114 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹198 ₹226
+14.3% above Net profit ₹24.0 ₹22.0
-8.2% in line
Exceptional items of ₹-7.6 Cr in the quarter
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+10.6% +6.2%
150 141 135 Operating profit
— +8.1%
25.5 23.6 — OPM %
— +30 bps
17.1% 16.8% — Other income
— +70.4%
4.7 2.8 — Net profit?
— —
16.2 — — PAT margin %
— —
10.8% — — EPS (₹)
— —
5.60 — —
Quality of profit
Pre-tax profit ₹21.0 Cr: core business ₹23.9 Cr, other income ₹4.7 Cr, exceptional & other items −₹7.6 Cr.
M Cap ₹1,468 Cr
P/E 32.4
PEG 2.03
Profit +57% above its own trend Operating margin expanded 251 bps YoY 27% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+9.6% -12.0%
64.2 73.0 58.6 Operating profit
+28.1% -31.4%
11.2 16.3 8.7 OPM %
+251 bps -492 bps
17.4% 22.3% 14.9% Other income
+23.8% +252.2%
3.2 0.9 2.6 Net profit
+33.1% -20.0%
8.8 10.9 6.6 PAT margin %
+241 bps -137 bps
13.6% 15.0% 11.2% EPS (₹)
+32.3% -20.1%
1.31 1.64 0.99
Quality of profit
Pre-tax profit ₹11.8 Cr: core business ₹8.6 Cr, other income ₹3.2 Cr.
Core profit YoY: +39.9%
· reported profit +33.1%
Cash & debt
FY26 cash from operations ₹47.0 Cr:
109% of FY26 net profit of ₹43.1 Cr.
Borrowings ₹8.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹58.7 ₹64.2
+9.3% above Net profit ₹5.6 ₹8.8
+57.0% above
M Cap ₹1,467 Cr
P/E 13.6
PEG 1.94
FY26 operating cash flow was only 14% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+20.1% +12.3%
444 395 370 Operating profit
+7.8% +1.3%
35.0 34.5 32.5 OPM %
-90 bps -86 bps
7.9% 8.7% 8.8% Other income
-37.7% +9.8%
4.0 3.6 6.4 Net profit?
+2.1% +4.9%
28.0 26.7 27.4 PAT margin %
-111 bps -45 bps
6.3% 6.8% 7.4% EPS (₹)
+0.6% +3.5%
7.78 7.52 7.73
Quality of profit
Pre-tax profit ₹37.0 Cr: core business ₹33.0 Cr, other income ₹4.0 Cr.
Core profit YoY: +7.7%
· reported profit +2.1%
Cash & debt
FY26 cash from operations ₹15.0 Cr:
14% of FY26 net profit of ₹104 Cr.
Borrowings ₹15.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹427 ₹444
+4.0% in line Net profit ₹28.8 ₹28.0
-2.8% in line
M Cap ₹1,464 Cr
P/E 7.9
PEG 0.32
Profit -14% below its own trend Operating margin expanded 249 bps YoY Core business grew faster than reported profit (core profit +63%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+6.1% +5.5%
712 675 671 Operating profit
+26.7% +0.9%
109 108 86.0 OPM %
+249 bps -69 bps
15.3% 16.0% 12.8% Other income
-91.7% -57.1%
3.0 7.0 36.0 Net profit?
-15.1% -10.0%
45.0 50.0 53.0 PAT margin %
-158 bps -109 bps
6.3% 7.4% 7.9% EPS (₹)
-11.1% -6.6%
5.52 5.91 6.21
Quality of profit
Pre-tax profit ₹60.0 Cr: core business ₹57.0 Cr, other income ₹3.0 Cr.
Core profit YoY: +62.9%
· reported profit -15.1%
Cash & debt
FY26 cash from operations ₹223 Cr:
116% of FY26 net profit of ₹193 Cr.
Borrowings ₹483 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹760 ₹712
-6.3% below Net profit ₹52.5 ₹45.0
-14.3% below
M Cap ₹1,462 Cr
P/E 12.2
PEG 0.30
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+10.0% -50.0%
11.0 22.0 10.0 Operating profit
loss widened to loss -26.0 20.0 -5.0 Other income
— —
0.0 0.0 0.0 Net profit?
loss widened to loss -23.0 17.0 -5.0 EPS (₹)
loss widened to loss -21.32 15.61 -4.26
Quality of profit
Pre-tax profit −₹26.0 Cr: core business −₹26.0 Cr, other income ₹0.0 Cr.
Core profit YoY: loss widened
Cash & debt
FY26 cash from operations ₹98.0 Cr:
93% of FY26 net profit of ₹105 Cr.
Borrowings nil at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹12.3 ₹11.0
-10.4% below
M Cap ₹1,460 Cr
P/E 13.5
PEG —
Profit -13% below its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+28.5% +18.2%
266 225 207 Operating profit
+31.2% +10.5%
42.0 38.0 32.0 OPM %
+33 bps -110 bps
15.8% 16.9% 15.5% Other income
+33.3% +33.3%
4.0 3.0 3.0 Net profit?
+40.9% +34.8%
31.0 23.0 22.0 PAT margin %
+103 bps +143 bps
11.7% 10.2% 10.6% EPS (₹)
+40.7% +35.0%
2.66 1.97 1.89
Quality of profit
Pre-tax profit ₹38.0 Cr: core business ₹34.0 Cr, other income ₹4.0 Cr.
Core profit YoY: +30.8%
· reported profit +40.9%
Cash & debt
FY26 cash from operations ₹62.0 Cr:
51% of FY26 net profit of ₹121 Cr.
Borrowings ₹109 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹267 ₹266
-0.2% in line Net profit ₹35.5 ₹31.0
-12.7% below
M Cap ₹1,452 Cr
P/E 8.1
PEG 0.67
Profit +371% above its own trend Operating margin expanded 410 bps YoY 68% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+79.5% +18.6%
293 247 163 Operating profit
+245.8% +78.6%
25.0 14.0 7.2 OPM %
+410 bps +286 bps
8.5% 5.7% 4.4% Other income
+153.5% -64.8%
25.0 71.0 9.9 Net profit?
+841.6% -57.4%
29.0 68.0 3.1 PAT margin %
+801 bps -1763 bps
9.9% 27.5% 1.9% EPS (₹)
+838.9% -57.5%
1.69 3.98 0.18
Quality of profit
Pre-tax profit ₹37.0 Cr: core business ₹12.0 Cr, other income ₹25.0 Cr.
Core profit YoY: from loss
· reported profit +841.6%
Cash & debt
FY26 cash from operations ₹116 Cr:
90% of FY26 net profit of ₹129 Cr.
Borrowings ₹137 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹168 ₹293
+74.6% above Net profit ₹6.2 ₹29.0
+370.8% above
M Cap ₹1,452 Cr
P/E 19.2
PEG 0.92
Profit -12% below its own trend Operating margin contracted 166 bps YoY FY26 operating cash flow was only 4% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+101.6% +38.4%
1,480 1,070 734 Operating profit
+31.4% +9.8%
46.0 41.9 35.0 OPM %
-166 bps -81 bps
3.1% 3.9% 4.8% Other income
— -100.0%
0.0 0.3 0.0 Net profit?
+0.0% +3.5%
18.0 17.4 18.0 PAT margin %
-124 bps -41 bps
1.2% 1.6% 2.5% EPS (₹)
+0.0% +3.6%
0.87 0.84 0.87
Quality of profit
Pre-tax profit ₹23.0 Cr: core business ₹22.0 Cr, other income ₹0.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: -8.3%
· reported profit +0.0%
Cash & debt
FY26 cash from operations ₹3.0 Cr:
4% of FY26 net profit of ₹76.3 Cr.
Borrowings ₹268 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹842 ₹1,480
+75.8% above Net profit ₹20.4 ₹18.0
-11.9% below
M Cap ₹1,449 Cr
P/E 53.1
PEG —
Profit +28% above 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
+29.4% +25.9%
527 419 407 Operating profit
+23.9% +63.1%
25.1 15.4 20.3 OPM %
-21 bps +109 bps
4.8% 3.7% 5.0% Other income
-1.2% -39.2%
17.5 28.7 17.7 Net profit
-1.7% -21.6%
7.7 9.8 7.8 PAT margin %
-46 bps -89 bps
1.5% 2.4% 1.9% EPS (₹)
+0.0% -22.0%
0.39 0.50 0.39
Quality of profit
Pre-tax profit ₹11.8 Cr: core business −₹5.7 Cr, other income ₹17.5 Cr.
Core profit YoY: loss narrowed
· reported profit -1.7%
Cash & debt
FY26 cash from operations ₹104 Cr:
559% of FY26 net profit of ₹18.6 Cr.
Borrowings ₹232 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹449 ₹527
+17.4% above Net profit ₹6.0 ₹7.7
+27.8% above
M Cap ₹1,449 Cr
P/E 22.0
PEG —
Profit +79% above its own trend Operating margin contracted 127 bps YoY 73% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -11%) Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+14.7% +4.3%
218 209 190 Operating profit
-8.3% +57.1%
11.0 7.0 12.0 OPM %
-127 bps +170 bps
5.0% 3.3% 6.3% Other income
+61.5% +110.0%
21.0 10.0 13.0 Net profit
+37.5% +100.0%
22.0 11.0 16.0 PAT margin %
+167 bps +483 bps
10.1% 5.3% 8.4% EPS (₹)
+34.7% +106.7%
15.40 7.45 11.43
Quality of profit
Pre-tax profit ₹30.0 Cr: core business ₹8.0 Cr, other income ₹21.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: -11.1%
· reported profit +37.5%
Cash & debt
FY26 cash from operations −₹21.0 Cr:
-32% of FY26 net profit of ₹66.0 Cr.
Borrowings ₹24.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹198 ₹218
+10.3% above Net profit ₹12.3 ₹22.0
+79.0% above
Profit +156% above its own trend Operating margin expanded 554 bps YoY
₹ Cr YoY vs prev. half
Mar 2026 Sep 2025 Mar 2025
Sales
+19.2% +31.1%
236 180 198 Operating profit
+150.0% +150.0%
25.0 10.0 10.0 OPM %
+554 bps +504 bps
10.6% 5.6% 5.1% Other income
— +100.0%
2.0 1.0 0.0 Net profit
+220.0% +220.0%
16.0 5.0 5.0 PAT margin %
+425 bps +400 bps
6.8% 2.8% 2.5% EPS (₹)
+220.4% +230.5%
6.28 1.90 1.96
Quality of profit
Pre-tax profit ₹22.0 Cr: core business ₹20.0 Cr, other income ₹2.0 Cr.
Core profit YoY: +233.3%
· reported profit +220.0%
Cash & debt
FY26 cash from operations −₹16.0 Cr.
Borrowings ₹98.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹288 ₹236
-18.2% below Net profit ₹6.2 ₹16.0
+156.0% above
M Cap ₹1,437 Cr
P/E 87.1
PEG 0.24
Profit +235% above its own trend Operating margin expanded 128 bps YoY
₹ Cr YoY vs prev. half
Mar 2026 Sep 2025 Mar 2025
Sales
+164.6% +529.1%
106 16.9 40.1 Operating profit
+180.4% +795.5%
24.0 2.7 8.6 OPM %
+128 bps +674 bps
22.6% 15.9% 21.4% Other income
-100.0% -100.0%
0.0 0.1 0.0 Net profit
+155.5% +893.4%
15.0 1.5 5.9 PAT margin %
-50 bps +519 bps
14.2% 9.0% 14.7% EPS (₹)
+128.8% +400.0%
13.75 2.75 6.01
Quality of profit
Pre-tax profit ₹20.0 Cr: core business ₹20.0 Cr, other income ₹0.0 Cr.
Core profit YoY: +162.2%
· reported profit +155.5%
Cash & debt
FY26 cash from operations ₹0.0 Cr.
Borrowings ₹42.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹37.6 ₹106
+181.8% above Net profit ₹4.5 ₹15.0
+234.7% above
All of pre-tax profit came from other income or one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-5.2% +3.6%
663 640 699 Operating profit
+7.3% -8.7%
44.0 48.2 41.0 OPM %
+77 bps -89 bps
6.6% 7.5% 5.9% Other income
from loss +341.2%
15.0 3.4 -16.0 Net profit?
loss narrowed to loss -19.0 3.6 -31.0 PAT margin %
+157 bps -343 bps
-2.9% 0.6% -4.4% EPS (₹)
loss narrowed to loss -2.28 0.42 -3.70
Quality of profit
Pre-tax profit ₹11.0 Cr: core business −₹4.0 Cr, other income ₹15.0 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY26 cash from operations ₹258 Cr.
Borrowings ₹856 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹692 ₹663
-4.1% in line
Turnaround: profit against a loss a year ago Operating margin expanded 9320 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
+75.2% +14.9%
93.0 81.0 53.1 Operating profit
from loss -72.9%
4.2 15.3 -47.1 OPM %
+9320 bps -1444 bps
4.5% 18.9% -88.7% Other income
+272.3% +539.4%
10.9 1.7 2.9 Net profit
from loss -36.9%
2.9 4.7 -56.1 PAT margin %
— -260 bps
3.2% 5.8% — EPS (₹)
from loss -37.7%
0.43 0.69 -8.32
Quality of profit
Pre-tax profit ₹2.9 Cr: core business −₹7.9 Cr, other income ₹10.9 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY26 cash from operations −₹11.0 Cr.
Borrowings ₹219 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹36.8 ₹93.0
+152.6% above
M Cap ₹1,428 Cr
P/E 24.5
PEG —
Operating margin expanded 215 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+2.8% +1.6%
255 251 248 Operating profit
+33.3% +4.3%
24.0 23.0 18.0 OPM %
+215 bps +25 bps
9.4% 9.2% 7.3% Other income
+100.0% —
2.0 0.0 1.0 Net profit
+62.5% +8.3%
13.0 12.0 8.0 PAT margin %
+187 bps +32 bps
5.1% 4.8% 3.2% EPS (₹)
+30.8% -12.3%
1.57 1.79 1.20
Quality of profit
Pre-tax profit ₹17.0 Cr: core business ₹16.0 Cr, other income ₹2.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +45.5%
· reported profit +62.5%
M Cap ₹1,427 Cr
P/E 16.4
PEG —
Profit -44% below its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-17.1% -9.8%
470 521 567 Operating profit
-14.3% +72.7%
98.4 57.0 115 OPM %
+68 bps +1000 bps
20.9% 10.9% 20.3% Other income
-24.4% -11.5%
1.8 2.0 2.3 Net profit?
-14.6% +82.4%
54.7 30.0 64.1 PAT margin %
+34 bps +588 bps
11.6% 5.8% 11.3% EPS (₹)
-16.8% +82.7%
14.36 7.86 17.26
Quality of profit
Pre-tax profit ₹73.5 Cr: core business ₹73.1 Cr, other income ₹1.8 Cr, exceptional & other items −₹1.3 Cr.
Core profit YoY: -14.3%
· reported profit -14.6%
Cash & debt
FY26 cash from operations ₹270 Cr:
269% of FY26 net profit of ₹100 Cr.
Borrowings ₹722 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹740 ₹470
-36.5% below Net profit ₹97.7 ₹54.7
-44.0% below
M Cap ₹1,423 Cr
P/E 28.0
PEG —
Turnaround: profit against a loss a year ago Operating margin expanded 1025 bps YoY FY26 operating cash flow was only 38% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+46.9% +13.3%
165 146 112 Operating profit
+320.2% +18.8%
26.0 21.9 6.2 OPM %
+1025 bps +73 bps
15.8% 15.0% 5.5% Other income
+106.7% +68.9%
5.0 3.0 2.4 Net profit?
from loss +67.2%
18.0 10.8 -0.7 PAT margin %
+1151 bps +352 bps
10.9% 7.4% -0.6% EPS (₹)
from loss +53.2%
2.13 1.39 -0.09
Quality of profit
Pre-tax profit ₹21.0 Cr: core business ₹16.0 Cr, other income ₹5.0 Cr.
Core profit YoY: from loss
Cash & debt
FY26 cash from operations ₹16.0 Cr:
38% of FY26 net profit of ₹41.8 Cr.
Borrowings ₹70.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹134 ₹165
+23.3% above
M Cap ₹1,420 Cr
P/E 12.9
PEG 0.80
Profit +28% above its own trend Operating margin contracted 312 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+32.1% +25.6%
206 164 156 Operating profit
+17.8% +0.0%
53.0 53.0 45.0 OPM %
-312 bps -659 bps
25.7% 32.3% 28.8% Other income
+100.0% from loss 6.0 -1.0 3.0 Net profit?
+30.4% +3.4%
30.0 29.0 23.0 PAT margin %
-18 bps -312 bps
14.6% 17.7% 14.7% EPS (₹)
+31.6% +0.0%
0.50 0.50 0.38
Quality of profit
Pre-tax profit ₹35.0 Cr: core business ₹30.0 Cr, other income ₹6.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +11.1%
· reported profit +30.4%
Cash & debt
FY26 cash from operations ₹92.0 Cr:
80% of FY26 net profit of ₹115 Cr.
Borrowings ₹292 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹174 ₹206
+18.7% above Net profit ₹23.4 ₹30.0
+28.1% above
M Cap ₹1,420 Cr
P/E 38.3
PEG —
Turnaround: profit against a loss a year ago Operating margin expanded 224 bps YoY 80% of pre-tax profit came from other income and one-off items FY26 operating cash flow was only 0% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+8.3% +5.5%
287 272 265 Operating profit
+39.2% -4.1%
29.0 30.3 20.8 OPM %
+224 bps -101 bps
10.1% 11.1% 7.9% Other income
+50.4% +10.7%
8.0 7.2 5.3 Net profit?
from loss —
18.0 1.3 -12.2 PAT margin %
+1087 bps +580 bps
6.3% 0.5% -4.6% EPS (₹)
from loss —
1.70 0.12 -1.13
Quality of profit
Pre-tax profit ₹10.0 Cr: core business ₹2.0 Cr, other income ₹8.0 Cr.
Core profit YoY: from loss
Cash & debt
FY26 cash from operations ₹0.0 Cr:
0% of FY26 net profit of ₹34.2 Cr.
Borrowings ₹595 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹282 ₹287
+1.7% in line
M Cap ₹1,415 Cr
P/E 55.2
PEG —
Into loss: a profit a year ago Profit -129% below its own trend Operating margin contracted 359 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+29.7% -14.6%
313 366 241 Operating profit
-30.0% -54.1%
13.2 28.7 18.8 OPM %
-359 bps -363 bps
4.2% 7.8% 7.8% Other income
-96.4% -23.3%
0.6 0.7 15.5 Net profit?
to loss to loss -8.8 6.7 14.9 PAT margin %
-899 bps -464 bps
-2.8% 1.8% 6.2% EPS (₹)
to loss to loss -6.55 5.09 11.49
Quality of profit
Pre-tax profit −₹6.2 Cr: core business −₹6.7 Cr, other income ₹0.6 Cr.
Core profit YoY: to loss
Cash & debt
FY26 cash from operations ₹40.0 Cr:
298% of FY26 net profit of ₹13.4 Cr.
Borrowings ₹542 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹325 ₹313
-3.7% in line Net profit ₹29.8 −₹8.8
-129.4% below
M Cap ₹1,414 Cr
P/E 38.7
PEG —
Profit +68% above its own trend Operating margin contracted 176 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+16.6% +15.1%
495 430 425 Operating profit
-2.1% -1.6%
45.7 46.4 46.7 OPM %
-176 bps -157 bps
9.2% 10.8% 11.0% Other income
-51.9% -28.2%
0.5 0.7 1.1 Net profit?
-15.8% +140.8%
7.9 3.3 9.4 PAT margin %
-62 bps +84 bps
1.6% 0.8% 2.2% EPS (₹)
-16.2% +140.6%
4.86 2.02 5.80
Quality of profit
Pre-tax profit ₹9.9 Cr: core business ₹9.4 Cr, other income ₹0.5 Cr.
Core profit YoY: -21.7%
· reported profit -15.8%
Cash & debt
FY26 cash from operations ₹239 Cr:
694% of FY26 net profit of ₹34.4 Cr.
Borrowings ₹354 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹417 ₹495
+18.8% above Net profit ₹4.7 ₹7.9
+68.4% above
M Cap ₹1,414 Cr
P/E 11.3
PEG —
Profit +54% above its own trend Operating margin expanded 307 bps YoY FY26 operating cash flow was only 45% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+16.4% -0.7%
428 431 368 Operating profit
+55.8% +1.8%
52.0 51.1 33.4 OPM %
+307 bps +30 bps
12.1% 11.9% 9.1% Other income
+113.7% +503.0%
4.0 0.7 1.9 Net profit
+54.8% +5.7%
38.0 35.9 24.6 PAT margin %
+220 bps +54 bps
8.9% 8.3% 6.7% EPS (₹)
+56.2% +6.4%
7.70 7.24 4.93
Quality of profit
Pre-tax profit ₹52.0 Cr: core business ₹48.0 Cr, other income ₹4.0 Cr.
Core profit YoY: +60.8%
· reported profit +54.8%
Cash & debt
FY26 cash from operations ₹51.0 Cr:
45% of FY26 net profit of ₹115 Cr.
Borrowings ₹83.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹332 ₹428
+28.9% above Net profit ₹24.7 ₹38.0
+53.8% above
M Cap ₹1,414 Cr
P/E 16.9
PEG 0.47
Profit -14% below its own trend Core business grew faster than reported profit (core profit +30%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+4.8% -3.1%
743 767 709 Operating profit
+20.5% +107.9%
43.0 20.7 35.7 OPM %
+75 bps +309 bps
5.8% 2.7% 5.0% Other income
-57.8% +107.8%
7.0 3.4 16.6 Net profit?
-21.0% +308.3%
27.0 6.6 34.2 PAT margin %
-119 bps +277 bps
3.6% 0.9% 4.8% EPS (₹)
-18.6% +205.8%
4.19 1.37 5.15
Quality of profit
Pre-tax profit ₹36.0 Cr: core business ₹29.0 Cr, other income ₹7.0 Cr.
Core profit YoY: +29.6%
· reported profit -21.0%
Cash & debt
FY26 cash from operations ₹144 Cr:
175% of FY26 net profit of ₹82.4 Cr.
Borrowings ₹45.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹772 ₹743
-3.8% in line Net profit ₹31.4 ₹27.0
-14.1% below
Profit +51% above its own trend Operating margin contracted 103 bps YoY 63% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +21%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+17.8% +53.0%
592 387 502 Operating profit
-6.5% -4.5%
23.6 24.7 25.2 OPM %
-103 bps -240 bps
4.0% 6.4% 5.0% Other income
-40.7% +13.7%
11.6 10.2 19.6 Net profit?
-3.7% +36.8%
26.0 19.0 27.0 PAT margin %
-98 bps -52 bps
4.4% 4.9% 5.4% EPS (₹)
-3.7% +39.5%
4.13 2.96 4.29
Quality of profit
Pre-tax profit ₹32.0 Cr: core business ₹11.8 Cr, other income ₹11.6 Cr, exceptional & other items ₹8.6 Cr.
Core profit YoY: +20.8%
· reported profit -3.7%
Cash & debt
FY26 cash from operations ₹92.0 Cr:
112% of FY26 net profit of ₹82.4 Cr.
Borrowings nil at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹455 ₹592
+30.2% above Net profit ₹17.2 ₹26.0
+51.2% 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, 04:29 IST
