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
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M Cap ₹1,088 Cr
P/E 10.4
PEG —
Turnaround: profit against a loss a year ago Operating margin expanded 645 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
+36.1% -53.9%
280 608 206 Operating profit
+354.4% -84.4%
25.8 166 5.7 OPM %
+645 bps -1803 bps
9.2% 27.2% 2.8% Other income
-37.5% -5.4%
8.0 8.5 12.8 Net profit?
from loss -95.3%
5.0 107 -10.3 PAT margin %
+682 bps -1579 bps
1.8% 17.6% -5.0% EPS (₹)
from loss -95.3%
2.42 51.61 -4.99
Quality of profit
Pre-tax profit ₹5.0 Cr: core business −₹3.1 Cr, other income ₹8.0 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY26 cash from operations ₹100 Cr:
89% of FY26 net profit of ₹112 Cr.
Borrowings ₹580 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹227 ₹280
+23.3% above
Into loss: a profit a year ago Operating margin contracted 1042 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-28.4% -32.1%
144 212 201 Operating profit
— loss widened -15.0 -8.0 0.0 OPM %
-1042 bps -664 bps
-10.4% -3.8% 0.0% Other income
to loss to loss -27.0 1.0 6.0 Net profit
to loss loss widened -47.0 -13.0 1.0 PAT margin %
-3314 bps -2651 bps
-32.6% -6.1% 0.5% EPS (₹)
to loss loss widened -1.28 -0.35 0.04
Quality of profit
Pre-tax profit −₹47.0 Cr: core business −₹20.0 Cr, other income −₹27.0 Cr.
Core profit YoY: loss widened
M Cap ₹1,084 Cr
P/E 16.9
PEG 0.11
37% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +20%) Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+42.1% +12.0%
234 209 165 Operating profit
+34.2% +13.3%
17.0 15.0 12.7 OPM %
-43 bps +9 bps
7.3% 7.2% 7.7% Other income
+163.2% +20.0%
6.0 5.0 2.3 Net profit
+50.6% +5.9%
18.0 17.0 11.9 PAT margin %
+44 bps -44 bps
7.7% 8.1% 7.3% EPS (₹)
+10.3% +7.1%
0.15 0.14 0.14
Quality of profit
Pre-tax profit ₹19.0 Cr: core business ₹12.0 Cr, other income ₹6.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +19.6%
· reported profit +50.6%
Cash & debt
FY26 cash from operations −₹269 Cr:
-486% of FY26 net profit of ₹55.4 Cr.
Borrowings ₹2,083 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹241 ₹234
-2.9% in line Net profit ₹16.5 ₹18.0
+9.3% in line
M Cap ₹1,081 Cr
P/E 41.1
PEG —
Profit -40% below its own trend Operating margin contracted 881 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-4.9% +4.0%
122 117 128 Operating profit
-42.5% +187.3%
16.4 5.7 28.6 OPM %
-881 bps +859 bps
13.5% 4.9% 22.3% Other income
-90.4% -55.3%
0.2 0.5 2.2 Net profit?
-52.7% from loss 7.7 -0.0 16.2 PAT margin %
-634 bps +629 bps
6.3% -0.0% 12.6% EPS (₹)
-44.4% —
0.20 0.01 0.36
Quality of profit
Pre-tax profit ₹7.7 Cr: core business ₹7.5 Cr, other income ₹0.2 Cr.
Core profit YoY: -63.3%
· reported profit -52.7%
Cash & debt
FY26 cash from operations ₹4.0 Cr.
Borrowings ₹139 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹136 ₹122
-10.1% below Net profit ₹12.7 ₹7.7
-39.6% below
M Cap ₹1,078 Cr
P/E 34.4
PEG 0.28
Profit +366% above its own trend Operating margin expanded 322 bps YoY Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+22.0% +12.1%
74.0 66.0 60.7 Operating profit
+47.0% +100.0%
14.0 7.0 9.5 OPM %
+322 bps +831 bps
18.9% 10.6% 15.7% Other income
+22.6% from loss 2.0 -4.0 1.6 Net profit?
+133.9% +400.0%
10.0 2.0 4.3 PAT margin %
+647 bps +1048 bps
13.5% 3.0% 7.0% EPS (₹)
+131.6% +408.3%
1.83 0.36 0.79
Quality of profit
Pre-tax profit ₹11.0 Cr: core business ₹10.0 Cr, other income ₹2.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +152.0%
· reported profit +133.9%
Cash & debt
FY26 cash from operations −₹5.0 Cr:
-17% of FY26 net profit of ₹29.0 Cr.
Borrowings ₹13.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹66.8 ₹74.0
+10.7% above Net profit ₹2.1 ₹10.0
+365.5% above
M Cap ₹1,078 Cr
P/E 26.5
PEG —
Profit -84% below its own trend 36% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +55%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+5.6% +12.3%
201 179 190 Operating profit
+1.4% +85.7%
26.0 14.0 25.6 OPM %
-53 bps +511 bps
12.9% 7.8% 13.5% Other income
-32.2% -12.5%
7.0 8.0 10.3 Net profit?
-75.3% +11.1%
10.0 9.0 40.4 PAT margin %
-1626 bps -5 bps
5.0% 5.0% 21.2% EPS (₹)
-75.1% +9.3%
1.06 0.97 4.26
Quality of profit
Pre-tax profit ₹22.0 Cr: core business ₹14.0 Cr, other income ₹7.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +55.0%
· reported profit -75.3%
Cash & debt
FY26 cash from operations ₹120 Cr:
235% of FY26 net profit of ₹51.0 Cr.
Borrowings ₹54.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹159 ₹201
+26.6% above Net profit ₹63.4 ₹10.0
-84.2% below
M Cap ₹1,075 Cr
P/E 41.0
PEG 1.14
Profit -30% below its own trend Operating margin contracted 824 bps YoY All of pre-tax profit came from other income or one-off items Profit grew faster than the core business (core profit -100%) Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+117.3% -19.9%
274 342 126 Operating profit
-33.3% -65.5%
10.0 29.0 15.0 OPM %
-824 bps -483 bps
3.6% 8.5% 11.9% Other income
+87.5% —
15.0 0.0 8.0 Net profit?
+39.7% -6.4%
14.0 15.0 10.0 PAT margin %
-284 bps +74 bps
5.1% 4.4% 7.9% EPS (₹)
+16.7% -12.5%
0.07 0.08 0.06
Quality of profit
Pre-tax profit ₹15.0 Cr: core business ₹0.0 Cr, other income ₹15.0 Cr.
Core profit YoY: -100.0%
· reported profit +39.7%
Cash & debt
FY26 cash from operations −₹263 Cr:
-489% of FY26 net profit of ₹53.8 Cr.
Borrowings ₹354 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹159 ₹274
+72.2% above Net profit ₹20.0 ₹14.0
-30.2% below
M Cap ₹1,074 Cr
P/E 14.4
PEG 0.90
Profit -33% below its own trend Operating margin expanded 427 bps YoY Core business grew faster than reported profit (core profit +24%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+9.0% -2.5%
47.2 48.4 43.3 Operating profit
+21.5% -12.6%
19.5 22.3 16.0 OPM %
+427 bps -475 bps
41.3% 46.0% 37.0% Other income
to loss to loss -5.2 4.8 2.2 Net profit
-21.7% -52.5%
9.4 19.7 11.9 PAT margin %
-775 bps -2084 bps
19.8% 40.7% 27.6% EPS (₹)
-21.7% -52.5%
7.70 16.21 9.83
Quality of profit
Pre-tax profit ₹13.4 Cr: core business ₹18.7 Cr, other income −₹5.2 Cr.
Core profit YoY: +23.9%
· reported profit -21.7%
Cash & debt
FY26 cash from operations ₹55.0 Cr:
80% of FY26 net profit of ₹68.4 Cr.
Borrowings nil at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹49.3 ₹47.2
-4.3% in line Net profit ₹13.9 ₹9.4
-32.6% below
Into loss: a profit a year ago Operating margin contracted 495 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-29.4% -7.1%
184 198 261 Operating profit
-76.8% +131.2%
4.5 1.9 19.2 OPM %
-495 bps +145 bps
2.4% 1.0% 7.4% Other income
to loss to loss -3.0 1.1 1.8 Net profit?
to loss loss narrowed -5.0 -15.0 13.4 PAT margin %
-787 bps +483 bps
-2.7% -7.5% 5.2% EPS (₹)
to loss loss narrowed -1.09 -3.27 adj. 3.11
EPS restated for the 1:10 bonus of Jan 2026: Mar 2025 ₹3.42 to ₹3.11.
Quality of profit
Pre-tax profit −₹7.1 Cr: core business −₹4.1 Cr, other income −₹3.0 Cr.
Core profit YoY: to loss
Cash & debt
FY26 cash from operations −₹19.0 Cr.
Borrowings ₹62.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹311 ₹184
-40.8% below
M Cap ₹1,066 Cr
P/E 35.6
PEG 0.94
Turnaround: profit against a loss a year ago Operating margin expanded 3097 bps YoY 57% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+3.3% +3.1%
73.0 70.8 70.6 Operating profit
from loss +1.3%
9.2 9.0 -13.0 OPM %
+3097 bps -22 bps
12.6% 12.8% -18.4% Other income
+166.3% from loss 7.3 -0.2 2.8 Net profit?
from loss +238.9%
9.9 2.9 -17.6 PAT margin %
+3854 bps +947 bps
13.6% 4.1% -24.9% EPS (₹)
from loss +260.0%
0.18 0.05 -0.32
Quality of profit
Pre-tax profit ₹12.8 Cr: core business ₹5.4 Cr, other income ₹7.3 Cr.
Core profit YoY: from loss
Cash & debt
FY26 cash from operations ₹72.0 Cr:
252% of FY26 net profit of ₹28.5 Cr.
Borrowings ₹28.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹67.2 ₹73.0
+8.6% above
M Cap ₹1,065 Cr
P/E 9.7
PEG 0.07
26% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +17%) Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+26.3% +38.0%
346 251 274 Operating profit
+34.5% -9.8%
39.0 43.2 29.0 OPM %
+69 bps -597 bps
11.3% 17.2% 10.6% Other income
+900.0% +869.6%
10.0 1.0 1.0 Net profit?
+87.5% +14.8%
30.0 26.1 16.0 PAT margin %
+283 bps -175 bps
8.7% 10.4% 5.8% EPS (₹)
— —
14.51 16.35 9.48
No EPS growth against Dec 2025 and Mar 2025: ₹10 to ₹1 split in Aug 2026.
Quality of profit
Pre-tax profit ₹38.0 Cr: core business ₹28.0 Cr, other income ₹10.0 Cr.
Core profit YoY: +16.7%
· reported profit +87.5%
Cash & debt
FY26 cash from operations −₹90.0 Cr:
-92% of FY26 net profit of ₹98.1 Cr.
Borrowings ₹386 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹474 ₹346
-27.0% below Net profit ₹32.0 ₹30.0
-6.2% in line
M Cap ₹1,064 Cr
P/E 88.6
PEG —
Profit +66% above its own trend Operating margin contracted 365 bps YoY Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+41.9% +66.9%
256 153 180 Operating profit
-1.8% +111.9%
21.0 9.9 21.4 OPM %
-365 bps +174 bps
8.2% 6.5% 11.9% Other income
-100.0% -100.0%
0.0 0.1 0.5 Net profit?
-14.3% +589.4%
10.0 1.5 11.7 PAT margin %
-256 bps +296 bps
3.9% 0.9% 6.5% EPS (₹)
-13.6% +589.2%
6.41 0.93 7.42
Quality of profit
Pre-tax profit ₹14.0 Cr: core business ₹13.0 Cr, other income ₹0.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: -16.6%
· reported profit -14.3%
Cash & debt
FY26 cash from operations −₹11.0 Cr:
-92% of FY26 net profit of ₹12.0 Cr.
Borrowings ₹158 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹243 ₹256
+5.3% above Net profit ₹6.0 ₹10.0
+66.0% above
M Cap ₹1,061 Cr
P/E 46.6
PEG 0.08
Profit -60% below its own trend Operating margin expanded 267 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+36.9% +25.1%
48.4 38.7 35.3 Operating profit
+50.4% +18.3%
14.4 12.2 9.6 OPM %
+267 bps -172 bps
29.7% 31.4% 27.1% Other income
-7.9% -63.6%
1.2 3.2 1.3 Net profit?
-39.8% -45.2%
6.0 11.0 10.0 PAT margin %
-1579 bps -1594 bps
12.4% 28.3% 28.2% EPS (₹)
-39.5% -45.4%
0.89 1.63 1.47
Quality of profit
Pre-tax profit ₹5.5 Cr: core business ₹4.3 Cr, other income ₹1.2 Cr.
Core profit YoY: -25.5%
· reported profit -39.8%
Cash & debt
FY26 cash from operations ₹58.0 Cr.
Borrowings ₹264 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹33.7 ₹48.4
+43.6% above Net profit ₹15.0 ₹6.0
-59.9% below
M Cap ₹1,059 Cr
P/E 7.3
PEG 1.83
Profit +108% above its own trend FY26 operating cash flow was only 43% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+10.5% +16.7%
126 108 114 Operating profit
+10.1% +16.9%
76.0 65.0 69.0 OPM %
-21 bps +13 bps
60.3% 60.2% 60.5% Other income
— —
0.0 0.0 0.0 Net profit?
+17.5% +20.5%
47.0 39.0 40.0 PAT margin %
+221 bps +119 bps
37.3% 36.1% 35.1% EPS (₹)
+17.8% +19.9%
2.65 2.21 2.25
Quality of profit
Pre-tax profit ₹65.0 Cr: core business ₹64.0 Cr, other income ₹0.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +14.3%
· reported profit +17.5%
Cash & debt
FY26 cash from operations ₹56.0 Cr:
43% of FY26 net profit of ₹130 Cr.
Borrowings ₹284 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹86.8 ₹126
+45.2% above Net profit ₹22.6 ₹47.0
+108.0% above
M Cap ₹1,057 Cr
P/E 53.6
PEG —
Profit +67% above its own trend Operating margin contracted 442 bps YoY 44% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -56%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+6.4% +2.3%
229 224 215 Operating profit
-24.0% +15.1%
25.2 21.9 33.2 OPM %
-442 bps +123 bps
11.0% 9.8% 15.5% Other income
+2.1% +43.1%
4.4 3.1 4.3 Net profit?
-16.5% +848.5%
8.1 0.9 9.7 PAT margin %
-97 bps +316 bps
3.5% 0.4% 4.5% EPS (₹)
-16.6% +837.0%
4.31 0.46 5.17
Quality of profit
Pre-tax profit ₹10.1 Cr: core business ₹5.7 Cr, other income ₹4.4 Cr.
Core profit YoY: -56.3%
· reported profit -16.5%
Cash & debt
FY26 cash from operations ₹86.0 Cr:
410% of FY26 net profit of ₹21.0 Cr.
Borrowings ₹183 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹194 ₹229
+17.9% above Net profit ₹4.9 ₹8.1
+66.9% above
Into loss: a profit a year ago Profit -139% below its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-14.8% -28.1%
0.5 0.6 0.5 Operating profit
to loss loss narrowed -4.3 -116 0.5 Other income
-100.0% +0.0%
0.0 0.0 29.8 Net profit?
to loss loss narrowed -5.7 -117 29.2 EPS (₹)
to loss loss narrowed -5.50 -113.53 28.37
Quality of profit
Pre-tax profit −₹5.6 Cr: core business −₹5.6 Cr, other income ₹0.0 Cr.
Core profit YoY: loss widened
Cash & debt
FY26 cash from operations ₹7.0 Cr.
Borrowings ₹65.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹0.6 ₹0.5
-22.2% below Net profit ₹14.6 −₹5.7
-138.7% below
M Cap ₹1,057 Cr
P/E 6.4
PEG —
Profit +174% above its own trend Operating margin expanded 389 bps YoY 30% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +676%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+5.2% +5.3%
304 289 289 Operating profit
+73.4% +1.4%
30.0 29.6 17.3 OPM %
+389 bps -38 bps
9.9% 10.3% 6.0% Other income
-40.1% -15.2%
5.4 6.3 9.0 Net profit?
+190.4% -8.8%
12.8 14.0 4.4 PAT margin %
+268 bps -65 bps
4.2% 4.8% 1.5% EPS (₹)
+190.7% -8.5%
3.11 3.40 1.07
Quality of profit
Pre-tax profit ₹17.7 Cr: core business ₹12.4 Cr, other income ₹5.4 Cr.
Core profit YoY: +675.6%
· reported profit +190.4%
Cash & debt
FY26 cash from operations ₹143 Cr:
86% of FY26 net profit of ₹166 Cr.
Borrowings ₹73.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹378 ₹304
-19.7% below Net profit ₹4.6 ₹12.8
+174.4% above
M Cap ₹1,056 Cr
P/E 20.4
PEG 6.80
Operating margin expanded 427 bps YoY 38% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-15.0% -36.5%
168 264 197 Operating profit
+93.8% -4.9%
12.8 13.4 6.6 OPM %
+427 bps +253 bps
7.6% 5.1% 3.3% Other income
+255.6% +7.5%
4.2 3.9 1.2 Net profit
+297.4% -22.8%
7.8 10.1 2.0 PAT margin %
+365 bps +82 bps
4.6% 3.8% 1.0% EPS (₹)
+295.2% -22.9%
2.49 3.23 0.63
Quality of profit
Pre-tax profit ₹11.1 Cr: core business ₹6.9 Cr, other income ₹4.2 Cr.
Core profit YoY: +316.3%
· reported profit +297.4%
Cash & debt
FY26 cash from operations ₹96.0 Cr:
247% of FY26 net profit of ₹38.9 Cr.
Borrowings ₹6.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹238 ₹168
-29.6% below
M Cap ₹1,056 Cr
P/E 26.2
PEG 8.74
Profit -88% below its own trend Operating margin contracted 1588 bps YoY Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+5.8% -0.0%
49.0 49.0 46.3 Operating profit
-46.6% -43.1%
7.9 13.9 14.8 OPM %
-1588 bps -1223 bps
16.2% 28.4% 32.0% Other income
to loss to loss -0.3 0.2 0.5 Net profit?
-93.5% -90.3%
0.5 5.2 7.7 PAT margin %
-1560 bps -954 bps
1.0% 10.6% 16.6% EPS (₹)
-93.2% -89.4%
0.05 0.47 0.74
Quality of profit
Pre-tax profit ₹1.5 Cr: core business ₹1.8 Cr, other income −₹0.3 Cr.
Core profit YoY: -81.9%
· reported profit -93.5%
Cash & debt
FY26 cash from operations −₹122 Cr:
-388% of FY26 net profit of ₹31.5 Cr.
Borrowings ₹239 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹34.1 ₹49.0
+43.7% above Net profit ₹4.2 ₹0.5
-88.0% below
M Cap ₹1,052 Cr
P/E 14.0
PEG 1.08
Profit +61% above its own trend Operating margin expanded 136 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+7.1% +40.9%
442 314 413 Operating profit
+20.2% +115.0%
55.0 25.6 45.7 OPM %
+136 bps +429 bps
12.4% 8.2% 11.1% Other income
-29.8% -47.0%
3.0 5.7 4.3 Net profit
+18.1% +123.5%
36.0 16.1 30.5 PAT margin %
+76 bps +301 bps
8.1% 5.1% 7.4% EPS (₹)
+18.3% +123.2%
4.53 2.03 3.83
Quality of profit
Pre-tax profit ₹49.0 Cr: core business ₹45.0 Cr, other income ₹3.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +21.1%
· reported profit +18.1%
Cash & debt
FY26 cash from operations ₹42.0 Cr:
58% of FY26 net profit of ₹71.9 Cr.
Borrowings ₹258 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹422 ₹442
+4.7% in line Net profit ₹22.4 ₹36.0
+61.0% above
M Cap ₹1,051 Cr
P/E 52.3
PEG 3.07
Profit -96% below its own trend Operating margin contracted 7618 bps YoY Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-98.1% -98.5%
0.3 17.2 13.4 Operating profit
-99.6% -99.6%
0.1 17.1 13.3 OPM %
-7618 bps -7611 bps
23.1% 99.2% 99.3% Other income
— —
0.0 0.0 0.0 Net profit
-94.8% -95.9%
0.5 12.6 10.0 EPS (₹)
-94.8% -95.9%
0.28 6.82 5.41
Quality of profit
Pre-tax profit ₹0.1 Cr: core business ₹0.0 Cr, other income ₹0.0 Cr.
Core profit YoY: -99.6%
· reported profit -94.8%
Cash & debt
FY26 cash from operations −₹6.0 Cr:
-30% of FY26 net profit of ₹19.9 Cr.
Borrowings nil at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹16.1 ₹0.3
-98.4% below Net profit ₹11.9 ₹0.5
-95.6% below
Into loss: a profit a year ago Profit -625% below its own trend Operating margin contracted 308 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+82.1% +303.8%
51.0 12.6 28.0 Operating profit
+62.5% +273.1%
13.0 3.5 8.0 OPM %
-308 bps -210 bps
25.5% 27.6% 28.6% Other income
— -100.0%
0.0 0.1 0.0 Net profit
to loss to loss -18.0 1.4 4.0 PAT margin %
-4958 bps -4660 bps
-35.3% 11.3% 14.3% EPS (₹)
to loss to loss -0.76 0.06 0.15
Quality of profit
Pre-tax profit ₹11.0 Cr: core business ₹10.0 Cr, other income ₹0.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +42.9%
Cash & debt
FY26 cash from operations ₹4.0 Cr.
Borrowings ₹44.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹30.5 ₹51.0
+67.0% above Net profit ₹3.4 −₹18.0
-625.0% below
M Cap ₹1,046 Cr
P/E 86.2
PEG 21.56
Operating margin expanded 386 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
-55.5% -31.8%
8.4 12.4 18.9 Operating profit
loss narrowed loss narrowed -1.2 -2.4 -3.5 OPM %
+386 bps +435 bps
-14.8% -19.2% -18.7% Other income
-26.0% -19.1%
5.3 6.5 7.2 Net profit?
+0.6% +7.0%
3.2 3.0 3.2 PAT margin %
+2130 bps +1384 bps
38.2% 24.4% 16.9% EPS (₹)
+0.5% +7.0%
2.13 1.99 2.12
Quality of profit
Pre-tax profit ₹3.7 Cr: core business −₹1.6 Cr, other income ₹5.3 Cr.
Core profit YoY: loss narrowed
· reported profit +0.6%
Cash & debt
FY26 cash from operations −₹36.0 Cr:
-291% of FY26 net profit of ₹12.4 Cr.
Borrowings nil at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹19.0 ₹8.4
-55.6% below Net profit ₹3.3 ₹3.2
-1.8% in line
M Cap ₹1,045 Cr
P/E 34.3
PEG 0.71
Profit -61% below its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+2.8% +3.2%
101 97.5 97.8 Operating profit
+4.5% -1.6%
11.9 12.1 11.4 OPM %
+19 bps -57 bps
11.8% 12.4% 11.6% Other income
-37.4% +870.4%
1.4 0.1 2.3 Net profit?
-21.4% +5.6%
6.3 6.0 8.1 PAT margin %
-195 bps +15 bps
6.3% 6.2% 8.3% EPS (₹)
-22.3% +4.7%
1.57 1.50 2.02
Quality of profit
Pre-tax profit ₹8.1 Cr: core business ₹6.7 Cr, other income ₹1.4 Cr.
Core profit YoY: -22.4%
· reported profit -21.4%
Cash & debt
FY26 cash from operations ₹39.0 Cr:
148% of FY26 net profit of ₹26.3 Cr.
Borrowings ₹129 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹113 ₹101
-11.1% below Net profit ₹16.1 ₹6.3
-60.7% below
M Cap ₹1,042 Cr
P/E 15.2
PEG —
Profit +70% above its own trend Profit grew faster than the core business (core profit +43%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+26.8% +39.7%
507 363 400 Operating profit
+31.0% +41.5%
64.0 45.2 48.9 OPM %
+40 bps +16 bps
12.6% 12.5% 12.2% Other income
— +502.1%
9.0 1.5 0.4 Net profit
+74.0% +158.3%
30.0 11.6 17.2 PAT margin %
+160 bps +272 bps
5.9% 3.2% 4.3% EPS (₹)
+72.3% +160.0%
9.75 3.75 5.66
Quality of profit
Pre-tax profit ₹42.0 Cr: core business ₹33.0 Cr, other income ₹9.0 Cr.
Core profit YoY: +43.4%
· reported profit +74.0%
Cash & debt
FY26 cash from operations ₹192 Cr:
254% of FY26 net profit of ₹75.6 Cr.
Borrowings ₹369 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹483 ₹507
+4.9% in line Net profit ₹17.7 ₹30.0
+69.9% above
M Cap ₹1,041 Cr
P/E 8.6
PEG 0.50
Profit -16% below its own trend Operating margin contracted 149 bps YoY 27% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -21%) FY26 operating cash flow was only 23% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+7.0% +10.1%
754 685 705 Operating profit
-17.4% -29.6%
38.0 54.0 46.0 OPM %
-149 bps -284 bps
5.0% 7.9% 6.5% Other income
+400.0% —
10.0 0.0 2.0 Net profit
+3.7% -17.6%
28.0 34.0 27.0 PAT margin %
-12 bps -125 bps
3.7% 5.0% 3.8% EPS (₹)
+5.3% -18.4%
5.76 7.06 5.47
Quality of profit
Pre-tax profit ₹37.0 Cr: core business ₹27.0 Cr, other income ₹10.0 Cr.
Core profit YoY: -20.6%
· reported profit +3.7%
Cash & debt
FY26 cash from operations ₹26.0 Cr:
23% of FY26 net profit of ₹115 Cr.
Borrowings ₹491 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹870 ₹754
-13.4% below Net profit ₹33.4 ₹28.0
-16.1% below
M Cap ₹1,039 Cr
P/E 12.1
PEG 0.50
Profit -23% below its own trend Operating margin expanded 422 bps YoY Core business grew faster than reported profit (core profit +39%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+5.1% +23.1%
208 169 198 Operating profit
+41.7% +54.5%
34.0 22.0 24.0 OPM %
+422 bps +333 bps
16.3% 13.0% 12.1% Other income
— to loss -8.0 7.0 0.0 Net profit
+0.0% -19.0%
17.0 21.0 17.0 PAT margin %
-41 bps -425 bps
8.2% 12.4% 8.6% EPS (₹)
+0.0% -16.2%
0.62 0.74 0.62
Quality of profit
Pre-tax profit ₹24.0 Cr: core business ₹32.0 Cr, other income −₹8.0 Cr.
Core profit YoY: +39.1%
· reported profit +0.0%
Cash & debt
FY26 cash from operations ₹66.0 Cr:
85% of FY26 net profit of ₹78.0 Cr.
Borrowings ₹9.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹204 ₹208
+1.8% in line Net profit ₹22.0 ₹17.0
-22.7% below
M Cap ₹1,037 Cr
P/E 18.7
PEG 1.70
Into loss: a profit a year ago Profit -118% below its own trend Operating margin contracted 372 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
+20.0% +1.4%
614 606 512 Operating profit
-46.1% -55.6%
18.7 42.0 34.6 OPM %
-372 bps -390 bps
3.0% 6.9% 6.8% Other income
+896.3% +79.6%
11.7 6.5 1.2 Net profit?
to loss to loss -1.3 14.6 10.3 PAT margin %
-221 bps -262 bps
-0.2% 2.4% 2.0% EPS (₹)
to loss to loss -0.03 1.35 0.83
Quality of profit
Pre-tax profit ₹2.4 Cr: core business −₹9.2 Cr, other income ₹11.7 Cr.
Core profit YoY: to loss
Cash & debt
FY26 cash from operations ₹45.0 Cr:
97% of FY26 net profit of ₹46.2 Cr.
Borrowings ₹423 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹583 ₹614
+5.3% above Net profit ₹6.8 −₹1.3
-118.5% below
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+28.7% -7.8%
130 141 101 Operating profit
-69.0% from loss 240 -239 775 Other income
-46.4% +21.2%
15.0 12.4 28.0 Net profit?
loss widened loss narrowed -566 -975 -489 EPS (₹)
loss widened loss narrowed -1.69 -3.25 -1.18
Quality of profit
Pre-tax profit −₹567 Cr: core business −₹581 Cr, other income ₹15.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: loss widened
Cash & debt
FY26 cash from operations −₹116 Cr.
Borrowings ₹7,519 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹166 ₹130
-21.5% below
M Cap ₹1,034 Cr
P/E 7.3
PEG —
Profit -85% below its own trend Operating margin expanded 348 bps YoY All of pre-tax profit came from other income or one-off items Exceptional items of ₹7.6 Cr in the quarter Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-72.6% -70.4%
124 421 455 Operating profit
-55.9% -63.3%
11.4 31.1 25.9 OPM %
+348 bps +179 bps
9.2% 7.4% 5.7% Other income
-38.4% -55.9%
3.6 8.2 5.8 Net profit?
-69.9% -59.3%
8.1 19.9 26.9 PAT margin %
+59 bps +178 bps
6.5% 4.7% 5.9% EPS (₹)
-69.9% -59.3%
0.90 2.21 2.99
Quality of profit
Pre-tax profit ₹10.1 Cr: core business −₹1.2 Cr, other income ₹3.6 Cr, exceptional & other items ₹7.6 Cr.
Core profit YoY: to loss
· reported profit -69.9%
Cash & debt
FY26 cash from operations −₹100 Cr:
-103% of FY26 net profit of ₹97.5 Cr.
Borrowings ₹465 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹459 ₹124
-72.9% below Net profit ₹53.8 ₹8.1
-85.0% 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, 06:14 IST
