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: 38 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
-4.8%
median; 37% of 35 stocks up
Other-income heavy
1375
25%+ of pre-tax profit from other income & one-offs
Filters & sorting
Results by sector
1375 matching results 1375
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M Cap ₹10,924 Cr
P/E 39.2
PEG 0.50
Profit +124% above its own trend Operating margin expanded 150 bps YoY 76% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +322%) Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+36.8% +140.7%
720 299 526 Operating profit
+80.0% +83.4%
45.0 24.5 25.0 OPM %
+150 bps -195 bps
6.2% 8.2% 4.8% Other income
+81.1% +94.6%
67.0 34.4 37.0 Net profit?
+176.0% +81.9%
69.0 37.9 25.0 PAT margin %
+483 bps -309 bps
9.6% 12.7% 4.8% EPS (₹)
+333.3% -10.3%
0.26 0.29 0.06
Quality of profit
Pre-tax profit ₹88.0 Cr: core business ₹21.0 Cr, other income ₹67.0 Cr.
Core profit YoY: +322.2%
· reported profit +176.0%
Cash & debt
FY26 cash from operations −₹361 Cr:
-86% of FY26 net profit of ₹418 Cr.
Borrowings ₹798 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹576 ₹720
+25.0% above Net profit ₹30.8 ₹69.0
+123.9% above
M Cap ₹10,572 Cr
P/E 62.4
PEG 1.69
Operating margin contracted 846 bps YoY 32% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+51.6% +7.6%
185 172 122 Operating profit
+12.5% +0.0%
45.0 45.0 40.0 OPM %
-846 bps -184 bps
24.3% 26.2% 32.8% Other income
+55.6% +7.7%
14.0 13.0 9.0 Net profit?
-76.4% +106.2%
66.0 32.0 280 PAT margin %
— +1707 bps
35.7% 18.6% — EPS (₹)
-77.1% +106.9%
3.62 1.75 15.79
Quality of profit
Pre-tax profit ₹40.0 Cr: core business ₹27.0 Cr, other income ₹14.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +0.0%
· reported profit -76.4%
Cash & debt
FY26 cash from operations ₹169 Cr:
105% of FY26 net profit of ₹161 Cr.
Borrowings ₹59.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹185 ₹185
-0.1% in line
M Cap ₹10,316 Cr
P/E 41.0
PEG 3.15
Profit -25% below its own trend Operating margin contracted 358 bps YoY 49% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+8.8% +23.0%
2,181 1,774 2,005 Operating profit
-33.9% +33.1%
121 90.9 183 OPM %
-358 bps +42 bps
5.5% 5.1% 9.1% Other income
+12.8% +25.5%
53.0 42.2 47.0 Net profit?
-32.8% +197.2%
80.0 26.9 119 PAT margin %
-227 bps +215 bps
3.7% 1.5% 5.9% EPS (₹)
-32.8% +202.4%
6.32 2.09 9.40
Quality of profit
Pre-tax profit ₹110 Cr: core business ₹56.0 Cr, other income ₹53.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: -51.3%
· reported profit -32.8%
Cash & debt
FY26 cash from operations ₹298 Cr:
101% of FY26 net profit of ₹295 Cr.
Borrowings ₹71.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹2,020 ₹2,181
+8.0% above Net profit ₹106 ₹80.0
-24.6% below
M Cap ₹10,054 Cr
P/E 15.7
PEG 0.16
Into loss: a profit a year ago Profit -116% below its own trend Operating margin contracted 2024 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
+3.4% +19.9%
1,386 1,156 1,341 Operating profit
-68.8% -30.3%
121 174 388 OPM %
-2024 bps -629 bps
8.7% 15.0% 29.0% Other income
+226.1% +50.3%
84.0 55.9 25.8 Net profit?
to loss to loss -13.0 3.8 156 PAT margin %
-1255 bps -126 bps
-0.9% 0.3% 11.6% EPS (₹)
to loss to loss -0.02 0.00 0.15
Quality of profit
Pre-tax profit ₹2.0 Cr: core business −₹83.0 Cr, other income ₹84.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: to loss
Cash & debt
FY26 cash from operations ₹1,301 Cr:
288% of FY26 net profit of ₹451 Cr.
Borrowings ₹3,391 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,284 ₹1,386
+7.9% above Net profit ₹82.7 −₹13.0
-115.7% below
M Cap ₹9,936 Cr
P/E 9.5
PEG 0.26
Profit +842% above its own trend Operating margin contracted 331 bps YoY 98% of pre-tax profit came from other income and one-off items FY26 operating cash flow was only 12% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+112.7% +289.8%
1,107 284 520 Operating profit
+28.6% from loss 56.0 -63.0 43.6 OPM %
-331 bps +2724 bps
5.1% -22.2% 8.4% Other income
— —
1,355 28.0 50.0 Net profit?
— from loss 1,152 -45.0 61.1 EPS (₹)
— from loss 82.02 -3.23 4.34
Quality of profit
Pre-tax profit ₹1,386 Cr: core business ₹30.0 Cr, other income ₹1,355 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +32.0%
Cash & debt
FY26 cash from operations ₹126 Cr:
12% of FY26 net profit of ₹1,094 Cr.
Borrowings ₹2,979 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹312 ₹1,107
+254.3% above Net profit ₹122 ₹1,152
+842.3% above
M Cap ₹9,850 Cr
P/E 19.0
PEG —
Profit +13% above its own trend 49% of pre-tax profit came from other income and one-off items Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-6.5% +50.5%
3,189 2,119 3,412 Operating profit
+2.1% +69.0%
267 158 261 OPM %
+71 bps +92 bps
8.4% 7.5% 7.7% Other income
+27.1% +8.9%
122 112 96.0 Net profit?
-9.8% +91.3%
191 99.8 212 PAT margin %
-22 bps +128 bps
6.0% 4.7% 6.2% EPS (₹)
-8.9% +90.7%
2.04 1.07 2.24
Quality of profit
Pre-tax profit ₹248 Cr: core business ₹126 Cr, other income ₹122 Cr.
Core profit YoY: -24.6%
· reported profit -9.8%
Cash & debt
FY26 cash from operations −₹618 Cr:
-104% of FY26 net profit of ₹591 Cr.
Borrowings ₹5,726 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹2,761 ₹3,189
+15.5% above Net profit ₹168 ₹191
+13.4% above
M Cap ₹9,292 Cr
P/E 110.3
PEG —
46% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+29.1% +10.1%
696 632 539 Operating profit
+31.0% —
450 — 344 OPM %
+98 bps —
64.7% — 63.7% Other income
+30.6% —
20.2 — 15.5 Net profit?
+79.3% +337.3%
65.9 15.1 36.7 PAT margin %
+265 bps +708 bps
9.5% 2.4% 6.8% EPS (₹)
+77.9% —
4.84 — 2.72
Quality of profit
Pre-tax profit ₹44.0 Cr: core business ₹23.8 Cr, other income ₹20.2 Cr.
Core profit YoY: from loss
· reported profit +79.3%
M Cap ₹9,148 Cr
P/E 127.2
PEG 3.10
Operating margin expanded 151 bps YoY 47% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+20.6% +143.2%
82.0 33.7 68.0 Operating profit
+25.0% —
35.0 1.5 28.0 OPM %
+151 bps +3811 bps
42.7% 4.6% 41.2% Other income
+50.0% +37.6%
15.0 10.9 10.0 Net profit?
-11.0% +989.7%
26.0 2.4 29.2 PAT margin %
-1124 bps +2463 bps
31.7% 7.1% 42.9% EPS (₹)
-10.6% +991.5%
5.13 0.47 5.74
Quality of profit
Pre-tax profit ₹32.0 Cr: core business ₹17.0 Cr, other income ₹15.0 Cr.
Core profit YoY: -26.1%
· reported profit -11.0%
Cash & debt
FY26 cash from operations ₹61.0 Cr:
97% of FY26 net profit of ₹63.1 Cr.
Borrowings ₹127 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹70.9 ₹82.0
+15.7% above Net profit ₹25.9 ₹26.0
+0.3% in line
Profit -66% below its own trend Operating margin contracted 1096 bps YoY 26% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-30.9% +23.0%
235 191 340 Operating profit
-49.3% -26.8%
71.0 97.0 140 OPM %
-1096 bps -2052 bps
30.2% 50.7% 41.2% Other income
+91.7% +275.2%
23.0 6.1 12.0 Net profit
-41.8% -9.7%
64.0 70.8 110 PAT margin %
-512 bps -983 bps
27.2% 37.1% 32.4% EPS (₹)
-41.6% -9.3%
3.71 4.09 6.35
Quality of profit
Pre-tax profit ₹87.0 Cr: core business ₹64.0 Cr, other income ₹23.0 Cr.
Core profit YoY: -52.6%
· reported profit -41.8%
Cash & debt
FY26 cash from operations ₹334 Cr:
120% of FY26 net profit of ₹278 Cr.
Borrowings ₹42.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹511 ₹235
-54.1% below Net profit ₹188 ₹64.0
-65.9% below
M Cap ₹8,982 Cr
P/E 59.8
PEG —
Profit +487% 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
+3.4% -0.5%
1,058 1,063 1,023 Operating profit
-4.4% -5.5%
86.0 91.0 90.0 OPM %
-67 bps -43 bps
8.1% 8.6% 8.8% Other income
+400.0% +172.7%
30.0 11.0 6.0 Net profit?
+193.4% +0.0%
24.0 24.0 8.2 PAT margin %
+147 bps +1 bps
2.3% 2.3% 0.8% EPS (₹)
+15.1% -0.8%
1.22 1.23 1.06
Quality of profit
Pre-tax profit ₹30.0 Cr: core business −₹1.0 Cr, other income ₹30.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: to loss
· reported profit +193.4%
Cash & debt
FY26 cash from operations ₹573 Cr:
450% of FY26 net profit of ₹127 Cr.
Borrowings ₹1,342 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,010 ₹1,058
+4.7% in line Net profit ₹4.1 ₹24.0
+486.8% above
M Cap ₹8,882 Cr
P/E 19.9
PEG 0.26
Profit -27% below its own trend Operating margin contracted 211 bps YoY 26% of pre-tax profit came from other income and one-off items Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+123.2% +7.3%
3,544 3,303 1,588 Operating profit
+43.6% -44.7%
135 244 94.0 OPM %
-211 bps -358 bps
3.8% 7.4% 5.9% Other income
+106.7% +29.2%
31.0 24.0 15.0 Net profit?
+45.2% -47.4%
90.0 171 62.0 PAT margin %
-136 bps -264 bps
2.5% 5.2% 3.9% EPS (₹)
+45.5% -47.2%
6.65 12.59 4.57
Quality of profit
Pre-tax profit ₹122 Cr: core business ₹90.0 Cr, other income ₹31.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +28.6%
· reported profit +45.2%
Cash & debt
FY26 cash from operations −₹717 Cr:
-175% of FY26 net profit of ₹409 Cr.
Borrowings ₹1,737 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,698 ₹3,544
+108.7% above Net profit ₹123 ₹90.0
-26.7% below
M Cap ₹8,486 Cr
P/E 64.5
PEG 3.58
Profit +66% above its own trend Operating margin contracted 814 bps YoY 59% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -36%) Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+43.2% -24.5%
68.0 90.0 47.5 Operating profit
+10.9% -50.7%
19.0 38.5 17.1 OPM %
-814 bps -1488 bps
27.9% 42.8% 36.1% Other income
+310.3% +241.1%
11.0 3.2 2.7 Net profit?
+120.3% -27.0%
24.0 32.9 10.9 PAT margin %
+1234 bps -125 bps
35.3% 36.5% 23.0% EPS (₹)
+112.7% -19.7%
10.72 13.35 5.04
Quality of profit
Pre-tax profit ₹17.0 Cr: core business ₹7.0 Cr, other income ₹11.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: -36.3%
· reported profit +120.3%
Cash & debt
FY26 cash from operations −₹200 Cr:
-250% of FY26 net profit of ₹79.9 Cr.
Borrowings ₹222 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹54.0 ₹68.0
+26.0% above Net profit ₹14.5 ₹24.0
+65.8% above
Turnaround: profit against a loss a year ago Operating margin contracted 3164 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
+1.6% -24.3%
870 1,150 856 Operating profit
to loss to loss -261 21.7 14.0 OPM %
-3164 bps -3189 bps
-30.0% 1.9% 1.6% Other income
— —
639 0.3 24.0 Net profit?
from loss —
251 — -22.0 PAT margin %
+3142 bps —
28.9% — -2.6% EPS (₹)
from loss —
8.57 — -0.57
Quality of profit
Pre-tax profit ₹327 Cr: core business −₹313 Cr, other income ₹639 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: loss widened
Against its own trend ?
Trend Actual Gap
Sales ₹717 ₹870
+21.4% above
M Cap ₹8,205 Cr
P/E 18.3
PEG —
Profit +999% 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
— +194.1%
1.0 0.3 0.0 Operating profit
loss widened loss widened -113 -23.0 -27.0 Other income
+370.8% +222.9%
226 70.0 48.0 Net profit?
— +172.3%
126 46.3 2.0 EPS (₹)
— +171.0%
0.84 0.31 0.01
Quality of profit
Pre-tax profit ₹110 Cr: core business −₹115 Cr, other income ₹226 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: loss widened
Cash & debt
FY26 cash from operations −₹605 Cr:
-156% of FY26 net profit of ₹387 Cr.
Borrowings nil at Mar 2026.
Against its own trend ?
Trend Actual Gap
Net profit ₹4.0 ₹126
+999.0% above
M Cap ₹8,151 Cr
P/E 24.0
PEG —
Profit +56% above its own trend Operating margin contracted 878 bps YoY 33% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -31%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+87.2% +17.3%
528 450 282 Operating profit
+67.2% +4.3%
388 372 232 OPM %
-878 bps -918 bps
73.5% 82.7% 82.3% Other income
— from loss 32.0 -2.0 1.0 Net profit?
+3.2% +61.7%
97.0 60.0 94.0 PAT margin %
-1496 bps +504 bps
18.4% 13.3% 33.3% EPS (₹)
-53.4% +59.6%
0.75 0.47 1.61
Quality of profit
Pre-tax profit ₹99.0 Cr: core business ₹66.0 Cr, other income ₹32.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: -30.5%
· reported profit +3.2%
Cash & debt
FY26 cash from operations ₹1,275 Cr:
375% of FY26 net profit of ₹340 Cr.
Borrowings ₹9,361 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹299 ₹528
+76.3% above Net profit ₹62.0 ₹97.0
+56.4% above
M Cap ₹7,666 Cr
P/E 13.1
PEG —
Into loss: a profit a year ago Profit -220% below its own trend Operating margin expanded 104 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
+15.3% +7.2%
2,004 1,869 1,737 Operating profit
+20.8% +24.5%
459 369 380 OPM %
+104 bps +317 bps
22.9% 19.7% 21.9% Other income
-10.8% -51.1%
112 229 126 Net profit?
to loss loss narrowed -114 -160 49.0 PAT margin %
-851 bps +289 bps
-5.7% -8.6% 2.8% EPS (₹)
to loss loss narrowed -1.43 -2.36 0.61
Quality of profit
Pre-tax profit ₹2.0 Cr: core business −₹109 Cr, other income ₹112 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY26 cash from operations ₹1,260 Cr:
205% of FY26 net profit of ₹613 Cr.
Borrowings ₹11,594 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,931 ₹2,004
+3.8% in line Net profit ₹95.0 −₹114
-220.0% below
M Cap ₹7,593 Cr
P/E 21.2
PEG —
26% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+4.6% +12.3%
1,817 1,618 1,737 Operating profit
+11.7% +20.8%
225 186 201 OPM %
+79 bps +87 bps
12.4% 11.5% 11.6% Other income
+84.8% +766.2%
44.4 5.1 24.0 Net profit?
+33.8% +130.9%
123 53.3 92.0 PAT margin %
+148 bps +348 bps
6.8% 3.3% 5.3% EPS (₹)
+33.2% +131.3%
7.47 3.23 5.61
Quality of profit
Pre-tax profit ₹170 Cr: core business ₹125 Cr, other income ₹44.4 Cr.
Core profit YoY: from loss
· reported profit +33.8%
Cash & debt
FY26 cash from operations ₹942 Cr:
263% of FY26 net profit of ₹358 Cr.
Borrowings ₹1,036 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,864 ₹1,817
-2.5% in line Net profit ₹114 ₹123
+8.3% in line
M Cap ₹7,584 Cr
P/E 7.5
PEG —
Profit -59% below its own trend Operating margin contracted 923 bps YoY 35% of pre-tax profit came from other income and one-off items Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+9.8% +8.3%
2,500 2,308 2,276 Operating profit
-32.5% -21.4%
368 468 545 OPM %
-923 bps -556 bps
14.7% 20.3% 23.9% Other income
-19.1% +20.9%
110 91.0 136 Net profit?
-47.9% -18.9%
210 259 403 PAT margin %
-931 bps -282 bps
8.4% 11.2% 17.7% EPS (₹)
-48.8% -20.2%
21.39 26.79 41.75
Quality of profit
Pre-tax profit ₹320 Cr: core business ₹209 Cr, other income ₹110 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: -43.1%
· reported profit -47.9%
Cash & debt
FY26 cash from operations −₹2,811 Cr:
-311% of FY26 net profit of ₹903 Cr.
Borrowings ₹4,872 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹2,500 ₹2,500
-0.0% in line Net profit ₹507 ₹210
-58.6% below
M Cap ₹7,570 Cr
P/E 54.4
PEG 2.36
Profit +26% 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
+28.3% -3.7%
625 649 487 Operating profit
+21.4% -3.7%
51.0 53.0 42.0 OPM %
-46 bps -0 bps
8.2% 8.2% 8.6% Other income
+393.5% +157.7%
9.9 3.8 2.0 Net profit
+37.5% -19.4%
22.0 27.3 16.0 PAT margin %
+23 bps -69 bps
3.5% 4.2% 3.3% EPS (₹)
+35.5% -20.8%
1.68 2.12 1.24
Quality of profit
Pre-tax profit ₹157 Cr: core business −₹28.4 Cr, other income ₹9.9 Cr, exceptional & other items ₹175 Cr.
Core profit YoY: loss widened
· reported profit +37.5%
Cash & debt
FY26 cash from operations ₹75.0 Cr:
64% of FY26 net profit of ₹117 Cr.
Borrowings ₹573 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹607 ₹625
+2.9% in line Net profit ₹17.4 ₹22.0
+26.2% above
M Cap ₹7,537 Cr
P/E 34.3
PEG 0.51
Profit -15% below its own trend 25% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+23.4% +3.2%
1,864 1,806 1,510 Operating profit
+24.3% +6.5%
169 159 136 OPM %
+6 bps +28 bps
9.1% 8.8% 9.0% Other income
+31.2% +15.1%
21.0 18.2 16.0 Net profit?
+25.5% +10.7%
64.0 57.8 51.0 PAT margin %
+6 bps +23 bps
3.4% 3.2% 3.4% EPS (₹)
+24.2% +10.6%
5.33 4.82 4.29
Quality of profit
Pre-tax profit ₹80.0 Cr: core business ₹60.0 Cr, other income ₹21.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +33.3%
· reported profit +25.5%
Cash & debt
FY26 cash from operations ₹496 Cr:
226% of FY26 net profit of ₹220 Cr.
Borrowings ₹1,424 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,587 ₹1,864
+17.5% above Net profit ₹75.3 ₹64.0
-15.0% below
M Cap ₹7,401 Cr
P/E 92.4
PEG 0.87
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
— +46.0%
670 459 9.0 Operating profit
loss narrowed to loss -44.0 30.0 -55.0 OPM %
— -1310 bps
-6.6% 6.5% — Other income
-8.1% +28.0%
137 107 149 Net profit?
+5.7% -72.9%
29.6 109 28.0 PAT margin %
— -1931 bps
4.4% 23.7% — EPS (₹)
+5.8% -22.3%
4.22 5.43 3.99
Quality of profit
Pre-tax profit ₹31.9 Cr: core business −₹53.0 Cr, other income ₹137 Cr, exceptional & other items −₹52.0 Cr.
Core profit YoY: loss narrowed
· reported profit +5.7%
Cash & debt
FY26 cash from operations −₹545 Cr:
-680% of FY26 net profit of ₹80.1 Cr.
Borrowings ₹662 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹13.0 ₹670
+999.0% above
M Cap ₹7,295 Cr
P/E 47.1
PEG —
Profit +114% above its own trend Operating margin contracted 174 bps YoY 32% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +0%) Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+33.0% -35.5%
395 612 297 Operating profit
+13.9% -37.9%
41.0 66.0 36.0 OPM %
-174 bps -40 bps
10.4% 10.8% 12.1% Other income
+50.0% +200.0%
9.0 3.0 6.0 Net profit
+328.6% +87.5%
60.0 32.0 14.0 PAT margin %
+1048 bps +996 bps
15.2% 5.2% 4.7% EPS (₹)
+318.4% +88.4%
6.82 3.62 1.63
Quality of profit
Pre-tax profit ₹31.0 Cr: core business ₹21.0 Cr, other income ₹9.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +0.0%
· reported profit +328.6%
Cash & debt
FY26 cash from operations −₹127 Cr:
-85% of FY26 net profit of ₹150 Cr.
Borrowings ₹856 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹594 ₹395
-33.5% below Net profit ₹28.0 ₹60.0
+114.3% above
M Cap ₹7,121 Cr
P/E 50.1
PEG 2.18
Profit +95% above its own trend Operating margin expanded 651 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
+29.8% +17.8%
257 218 198 Operating profit
+109.5% +26.5%
44.0 34.8 21.0 OPM %
+651 bps +118 bps
17.1% 15.9% 10.6% Other income
-8.3% -40.4%
11.0 18.5 12.0 Net profit?
+117.6% +49.3%
37.0 24.8 17.0 PAT margin %
+581 bps +304 bps
14.4% 11.4% 8.6% EPS (₹)
+128.6% +52.7%
3.36 2.20 1.47
Quality of profit
Pre-tax profit ₹45.0 Cr: core business ₹33.0 Cr, other income ₹11.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: from loss
· reported profit +117.6%
Cash & debt
FY26 cash from operations ₹139 Cr:
103% of FY26 net profit of ₹135 Cr.
Borrowings ₹22.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹213 ₹257
+20.4% above Net profit ₹19.0 ₹37.0
+95.1% above
M Cap ₹7,074 Cr
P/E 37.2
PEG —
Turnaround: profit against a loss a year ago Operating margin expanded 129 bps YoY 28% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+12.2% -9.0%
729 801 650 Operating profit
+30.5% -6.8%
67.0 71.9 51.4 OPM %
+129 bps +22 bps
9.2% 9.0% 7.9% Other income
-3.4% -7.0%
16.0 17.2 16.6 Net profit?
from loss +13.3%
36.0 31.8 -42.4 PAT margin %
+1146 bps +97 bps
4.9% 4.0% -6.5% EPS (₹)
from loss +12.1%
2.69 2.40 -2.97
Quality of profit
Pre-tax profit ₹57.0 Cr: core business ₹41.0 Cr, other income ₹16.0 Cr.
Core profit YoY: +42.3%
Cash & debt
FY26 cash from operations ₹210 Cr:
134% of FY26 net profit of ₹157 Cr.
Borrowings ₹174 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹697 ₹729
+4.6% in line
M Cap ₹7,004 Cr
P/E 49.5
PEG 2.06
Profit -10% below its own trend Operating margin contracted 412 bps YoY 39% of pre-tax profit came from other income and one-off items FY26 operating cash flow was only 34% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+4.1% +0.2%
485 484 466 Operating profit
-43.2% -47.8%
24.0 46.0 42.2 OPM %
-412 bps -456 bps
4.9% 9.5% 9.1% Other income
+73.5% +100.0%
8.0 4.0 4.6 Net profit?
-21.2% -42.9%
16.0 28.0 20.3 PAT margin %
-106 bps -249 bps
3.3% 5.8% 4.4% EPS (₹)
-17.1% -42.0%
0.29 0.50 0.35
Quality of profit
Pre-tax profit ₹23.0 Cr: core business ₹14.0 Cr, other income ₹8.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: -33.7%
· reported profit -21.2%
Cash & debt
FY26 cash from operations ₹33.0 Cr:
34% of FY26 net profit of ₹96.5 Cr.
Borrowings ₹208 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹468 ₹485
+3.6% in line Net profit ₹17.8 ₹16.0
-10.3% below
M Cap ₹6,997 Cr
P/E 106.8
PEG 6.67
Operating margin contracted 371 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
+8.0% +12.8%
485 430 449 Operating profit
-69.8% -76.9%
7.0 30.2 23.2 OPM %
-371 bps -559 bps
1.4% 7.0% 5.2% Other income
+232.0% —
32.0 2.6 9.6 Net profit?
-2.0% +79.9%
22.0 12.2 22.5 PAT margin %
-46 bps +169 bps
4.5% 2.8% 5.0% EPS (₹)
-3.1% +82.0%
2.53 1.39 2.61
Quality of profit
Pre-tax profit ₹28.0 Cr: core business −₹5.0 Cr, other income ₹32.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: to loss
· reported profit -2.0%
Cash & debt
FY26 cash from operations −₹12.0 Cr:
-18% of FY26 net profit of ₹65.5 Cr.
Borrowings ₹373 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹403 ₹485
+20.2% above Net profit ₹24.0 ₹22.0
-8.1% in line
M Cap ₹6,952 Cr
P/E 33.2
PEG —
Into loss: a profit a year ago Profit -112% below its own trend Operating margin contracted 1785 bps YoY 63% of pre-tax profit came from other income and one-off items Exceptional items of ₹7.3 Cr in the quarter
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-51.0% +3.1%
595 577 1,213 Operating profit
-88.3% -59.6%
33.3 82.4 285 OPM %
-1785 bps -869 bps
5.6% 14.3% 23.5% Other income
+181.0% +20.8%
36.8 30.4 13.1 Net profit?
to loss to loss -19.8 62.0 203 PAT margin %
-2008 bps -1408 bps
-3.3% 10.8% 16.8% EPS (₹)
to loss to loss -4.00 12.50 41.10
Quality of profit
Pre-tax profit ₹46.6 Cr: core business ₹17.2 Cr, other income ₹36.8 Cr, exceptional & other items −₹7.4 Cr.
Core profit YoY: -93.4%
Cash & debt
FY26 cash from operations ₹363 Cr:
136% of FY26 net profit of ₹266 Cr.
Borrowings ₹3.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹890 ₹595
-33.2% below Net profit ₹171 −₹19.8
-111.5% below
M Cap ₹6,824 Cr
P/E 64.1
PEG 3.77
Operating margin contracted 239 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
+33.1% -11.7%
414 469 311 Operating profit
+11.6% -15.8%
51.3 61.0 46.0 OPM %
-239 bps -60 bps
12.4% 13.0% 14.8% Other income
+93.5% -17.1%
11.6 14.0 6.0 Net profit?
-1.0% -26.6%
22.8 31.0 23.0 PAT margin %
-190 bps -111 bps
5.5% 6.6% 7.4% EPS (₹)
-3.4% -27.9%
8.20 11.37 8.49
Quality of profit
Pre-tax profit ₹30.9 Cr: core business ₹19.3 Cr, other income ₹11.6 Cr.
Core profit YoY: -19.6%
· reported profit -1.0%
Cash & debt
FY26 cash from operations ₹90.0 Cr:
93% of FY26 net profit of ₹96.8 Cr.
Borrowings ₹322 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹394 ₹414
+5.1% above Net profit ₹24.9 ₹22.8
-8.5% in line
M Cap ₹6,685 Cr
P/E 30.9
PEG —
Profit +999% above its own trend Operating margin expanded 793 bps YoY 36% of pre-tax profit came from other income and one-off items Exceptional items of ₹-15.8 Cr in the quarter
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+23.6% -2.3%
1,050 1,074 850 Operating profit
+331.9% +1.9%
117 114 27.0 OPM %
+793 bps +46 bps
11.1% 10.6% 3.2% Other income
-69.9% +17.1%
18.3 15.7 61.0 Net profit?
+605.9% +74.6%
91.8 52.6 13.0 PAT margin %
+721 bps +385 bps
8.7% 4.9% 1.5% EPS (₹)
+322.2% +75.3%
8.36 4.77 1.98
Quality of profit
Pre-tax profit ₹94.2 Cr: core business ₹60.1 Cr, other income ₹18.3 Cr, exceptional & other items ₹15.8 Cr.
Core profit YoY: from loss
· reported profit +605.9%
Cash & debt
FY26 cash from operations ₹409 Cr:
254% of FY26 net profit of ₹161 Cr.
Borrowings ₹908 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹888 ₹1,050
+18.2% above Net profit ₹6.5 ₹91.8
+999.0% above
M Cap ₹6,658 Cr
P/E 23.4
PEG —
Profit +12% above its own trend Operating margin contracted 110 bps YoY 48% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -46%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+17.4% +17.8%
2,048 1,739 1,744 Operating profit
+2.6% -19.5%
156 194 152 OPM %
-110 bps -352 bps
7.6% 11.1% 8.7% Other income
— +254.1%
63.0 17.8 2.6 Net profit?
+9.0% +0.7%
85.0 84.4 78.0 PAT margin %
-32 bps -71 bps
4.2% 4.9% 4.5% EPS (₹)
+3.0% +5.0%
9.96 9.49 9.67
Quality of profit
Pre-tax profit ₹131 Cr: core business ₹68.0 Cr, other income ₹63.0 Cr.
Core profit YoY: -46.5%
· reported profit +9.0%
Cash & debt
FY26 cash from operations ₹765 Cr:
269% of FY26 net profit of ₹284 Cr.
Borrowings ₹951 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,712 ₹2,048
+19.6% above Net profit ₹76.2 ₹85.0
+11.5% 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 13 Oct 2026, 14:24 IST
