Home › Quarterly results › Q4 FY26
Q4 FY26 quarterly results (January-March 2026)
5,115 companies have declared Q4 FY26 results so far, the latest on 12 Oct 2026.
Across the 4,645 non-financial companies with a year-ago quarter to compare, sales grew +12.4% and net profit +34.1% year on year, and the combined operating margin widened 10 bps to 14.3%.
For the 120 banks and lenders, net interest income grew +9.1% and net profit +11.1%.
55% of companies grew net profit; 472 turned a loss into a profit; 38% beat their own profit trend and 48% fell short of it.
5115 declared
Latest results
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The next results season has started: 45 companies have filed results for the quarter ended 30 Sep 2026.
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Sales growth
+12.4%
YoY, 4645 companies combined; median +11.7%
Net profit growth
+34.1%
YoY combined; median +16.1%
Operating margin
14.3%
+10 bps YoY
Grew profit
55%
472 turnarounds, 495 into loss
Vs own profit trend
38% / 48%
above / below, 14% in line
Banks: NII growth
+9.1%
120 lenders; profit +11.1%
Price since results
-3.9%
median; 31% of 35 stocks up
Other-income heavy
1375
25%+ of pre-tax profit from other income & one-offs
Filters & sorting
Results by sector
Latest Q4 FY26 results 5115
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M Cap ₹814 Cr
P/E 21.5
PEG —
Operating margin contracted 977 bps YoY 47% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -66%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+3.2% -5.4%
51.5 54.4 49.9 Operating profit
-49.8% -67.5%
4.8 14.7 9.5 OPM %
-977 bps -1773 bps
9.3% 27.0% 19.0% Other income
+139.5% —
2.8 0.2 1.2 Net profit?
-43.1% -65.5%
4.4 12.8 7.7 PAT margin %
-695 bps -1490 bps
8.6% 23.5% 15.5% EPS (₹)
-44.4% -65.2%
2.25 6.47 4.05
Quality of profit
Pre-tax profit ₹5.9 Cr: core business ₹3.1 Cr, other income ₹2.8 Cr.
Core profit YoY: -66.5%
· reported profit -43.1%
M Cap ₹809 Cr
P/E 34.3
PEG —
Profit +54% above its own trend Operating margin expanded 123 bps YoY 47% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +109%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+37.4% +31.6%
75.4 57.3 54.9 Operating profit
+53.4% +33.3%
8.9 6.7 5.8 OPM %
+123 bps +16 bps
11.8% 11.6% 10.5% Other income
+30.8% +14.6%
4.2 3.6 3.2 Net profit
+61.3% +25.1%
6.4 5.1 4.0 PAT margin %
+125 bps -43 bps
8.4% 8.9% 7.2% EPS (₹)
+61.1% +25.2%
1.74 1.39 1.08
Quality of profit
Pre-tax profit ₹8.8 Cr: core business ₹4.6 Cr, other income ₹4.2 Cr.
Core profit YoY: +108.6%
· reported profit +61.3%
Cash & debt
FY26 cash from operations ₹42.0 Cr:
178% of FY26 net profit of ₹23.6 Cr.
Borrowings ₹53.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹57.0 ₹75.4
+32.4% above Net profit ₹4.1 ₹6.4
+53.7% above
M Cap ₹808 Cr
P/E 52.4
PEG —
Turnaround: profit against a loss a year ago Operating margin expanded 2302 bps YoY All of pre-tax profit came from other income or one-off items FY26 operating cash flow was only 0% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-0.5% -9.7%
52.6 58.2 52.8 Operating profit
+198.8% -20.3%
18.1 22.8 6.1 OPM %
+2302 bps -456 bps
34.5% 39.1% 11.5% Other income
+26.4% +201.0%
8.8 2.9 7.0 Net profit?
from loss -42.4%
3.9 6.8 -53.0 PAT margin %
— -422 bps
7.4% 11.7% — EPS (₹)
from loss +266.7%
0.44 0.12 -2.15
Quality of profit
Pre-tax profit ₹4.0 Cr: core business −₹4.8 Cr, other income ₹8.8 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY26 cash from operations ₹0.0 Cr:
0% of FY26 net profit of ₹17.9 Cr.
Borrowings ₹658 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹58.4 ₹52.6
-10.0% below
M Cap ₹803 Cr
P/E 19.3
PEG —
Operating margin contracted 190 bps YoY 40% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -2%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+52.1% +8.0%
334 309 220 Operating profit
+11.4% -24.8%
17.3 23.1 15.6 OPM %
-190 bps -227 bps
5.2% 7.5% 7.1% Other income
+208.0% +191.1%
5.4 1.9 1.8 Net profit
+39.0% -16.9%
10.0 12.0 7.2 PAT margin %
-28 bps -89 bps
3.0% 3.9% 3.3% EPS (₹)
+3.5% -16.7%
2.99 3.59 2.89
Quality of profit
Pre-tax profit ₹13.6 Cr: core business ₹8.2 Cr, other income ₹5.4 Cr.
Core profit YoY: -2.4%
· reported profit +39.0%
M Cap ₹794 Cr
P/E 27.8
PEG 1.46
Profit +23% above its own trend Operating margin expanded 678 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-0.0% +3.4%
26.1 25.3 26.1 Operating profit
+22.8% +18.6%
9.5 8.0 7.7 OPM %
+678 bps +468 bps
36.4% 31.7% 29.7% Other income
+135.2% +89.8%
2.1 1.1 0.9 Net profit
+26.7% +21.4%
8.0 6.6 6.3 PAT margin %
+645 bps +455 bps
30.6% 26.1% 24.2% EPS (₹)
+25.6% +20.7%
2.16 1.79 1.72
Quality of profit
Pre-tax profit ₹11.0 Cr: core business ₹8.8 Cr, other income ₹2.1 Cr.
Core profit YoY: +19.2%
· reported profit +26.7%
Cash & debt
FY26 cash from operations ₹24.0 Cr:
87% of FY26 net profit of ₹27.5 Cr.
Borrowings ₹2.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹27.2 ₹26.1
-3.8% in line Net profit ₹6.5 ₹8.0
+23.5% above
M Cap ₹792 Cr
P/E 30.2
PEG —
Profit -65% below its own trend Operating margin contracted 569 bps YoY All of pre-tax profit came from other income or one-off items Exceptional items of ₹8.6 Cr in the quarter
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+11.1% +7.8%
222 206 200 Operating profit
-57.0% -64.7%
8.0 22.6 18.5 OPM %
-569 bps -737 bps
3.6% 11.0% 9.3% Other income
-50.2% +2.8%
3.0 2.9 5.9 Net profit?
-81.9% +1.7%
1.6 1.6 8.8 PAT margin %
-369 bps -4 bps
0.7% 0.8% 4.4% EPS (₹)
-81.9% +2.3%
0.44 0.43 2.43
Quality of profit
Pre-tax profit ₹7.0 Cr: core business −₹4.5 Cr, other income ₹3.0 Cr, exceptional & other items ₹8.6 Cr.
Core profit YoY: to loss
· reported profit -81.9%
Cash & debt
FY26 cash from operations ₹56.0 Cr:
191% of FY26 net profit of ₹29.3 Cr.
Borrowings ₹147 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹147 ₹222
+50.8% above Net profit ₹4.5 ₹1.6
-65.0% below
M Cap ₹792 Cr
P/E 68.8
PEG —
Profit -56% below its own trend Operating margin contracted 837 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
+0.3% +1.5%
73.3 72.2 73.0 Operating profit
-95.6% -84.0%
0.3 1.7 6.4 OPM %
-837 bps -204 bps
0.4% 2.4% 8.8% Other income
+973.7% +130.6%
2.0 0.9 0.2 Net profit?
-69.8% -9.0%
1.2 1.4 4.1 PAT margin %
-396 bps -20 bps
1.7% 1.9% 5.7% EPS (₹)
-69.6% -2.5%
0.77 0.79 2.53
Quality of profit
Pre-tax profit ₹1.6 Cr: core business −₹0.4 Cr, other income ₹2.0 Cr.
Core profit YoY: to loss
· reported profit -69.8%
Cash & debt
FY26 cash from operations −₹25.0 Cr:
-215% of FY26 net profit of ₹11.6 Cr.
Borrowings nil at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹87.6 ₹73.3
-16.4% below Net profit ₹2.8 ₹1.2
-55.6% below
M Cap ₹789 Cr
P/E 105.7
PEG —
Operating margin expanded 340 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+26.7% +8.0%
164 151 129 Operating profit
+820.0% -65.1%
6.4 18.4 0.7 OPM %
+340 bps -823 bps
3.9% 12.2% 0.5% Other income
-74.4% from loss 0.8 -4.4 3.2 Net profit?
loss narrowed to loss -0.6 4.1 -3.9 PAT margin %
+260 bps -309 bps
-0.4% 2.7% -3.0% EPS (₹)
loss narrowed to loss -0.09 0.62 -0.58
Quality of profit
Pre-tax profit −₹0.5 Cr: core business −₹1.3 Cr, other income ₹0.8 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY26 cash from operations ₹25.0 Cr:
180% of FY26 net profit of ₹13.9 Cr.
Borrowings ₹100 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹121 ₹164
+35.4% above
M Cap ₹788 Cr
P/E 213.1
PEG —
Profit -10% below its own trend Operating margin contracted 659 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
-3.2% -3.1%
105 109 109 Operating profit
-50.7% -43.8%
7.2 12.8 14.6 OPM %
-659 bps -495 bps
6.8% 11.8% 13.4% Other income
+260.4% +262.2%
6.2 1.7 1.7 Net profit?
-23.4% -15.0%
3.7 4.4 4.9 PAT margin %
-94 bps -49 bps
3.6% 4.0% 4.5% EPS (₹)
-24.8% -15.6%
0.76 0.90 1.01
Quality of profit
Pre-tax profit ₹4.9 Cr: core business −₹1.2 Cr, other income ₹6.2 Cr.
Core profit YoY: to loss
· reported profit -23.4%
Cash & debt
FY26 cash from operations ₹50.0 Cr:
856% of FY26 net profit of ₹5.8 Cr.
Borrowings ₹127 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹102 ₹105
+2.7% in line Net profit ₹4.2 ₹3.7
-10.1% below
M Cap ₹787 Cr
P/E 9.9
PEG 0.28
Profit -51% below its own trend Operating margin contracted 673 bps YoY Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+23.5% -9.5%
193 214 157 Operating profit
-43.2% -73.5%
11.1 41.8 19.5 OPM %
-673 bps -1382 bps
5.7% 19.6% 12.5% Other income
-5.0% -31.1%
0.2 0.3 0.2 Net profit
-32.3% -75.4%
7.5 30.6 11.1 PAT margin %
-322 bps -1045 bps
3.9% 14.3% 7.1% EPS (₹)
-31.9% -75.4%
0.64 2.60 0.94
Quality of profit
Pre-tax profit ₹10.3 Cr: core business ₹10.1 Cr, other income ₹0.2 Cr.
Core profit YoY: -44.9%
· reported profit -32.3%
Cash & debt
FY26 cash from operations −₹13.0 Cr:
-17% of FY26 net profit of ₹74.8 Cr.
Borrowings ₹58.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹161 ₹193
+20.2% above Net profit ₹15.2 ₹7.5
-50.6% below
Operating margin contracted 845 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-45.4% +39.9%
110 78.9 202 Operating profit
-65.8% +124.0%
15.7 7.0 45.9 OPM %
-845 bps +534 bps
14.2% 8.9% 22.7% Other income
from loss from loss 0.3 -1.7 -0.4 Net profit?
-96.3% from loss 1.0 -5.0 27.6 PAT margin %
-1273 bps +724 bps
0.9% -6.3% 13.6% EPS (₹)
-96.8% from loss 0.19 -1.04 5.89
Quality of profit
Pre-tax profit ₹4.0 Cr: core business ₹3.7 Cr, other income ₹0.3 Cr.
Core profit YoY: -90.8%
· reported profit -96.3%
M Cap ₹780 Cr
P/E 18.8
PEG —
Turnaround: profit against a loss a year ago Operating margin expanded 312 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
+11.9% -4.7%
208 218 186 Operating profit
+31.3% +3.3%
44.0 42.6 33.5 OPM %
+312 bps +165 bps
21.2% 19.5% 18.0% Other income
+6.3% -10.0%
3.2 3.5 3.0 Net profit?
from loss -41.7%
8.8 15.0 -2.4 PAT margin %
+551 bps -267 bps
4.2% 6.9% -1.3% EPS (₹)
from loss -45.5%
0.30 0.55 -0.07
Quality of profit
Pre-tax profit ₹10.0 Cr: core business ₹6.8 Cr, other income ₹3.2 Cr.
Core profit YoY: -2.4%
Cash & debt
FY26 cash from operations ₹157 Cr:
355% of FY26 net profit of ₹44.2 Cr.
Borrowings ₹769 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹194 ₹208
+7.3% above
Into loss: a profit a year ago Profit -904% below its own trend Operating margin contracted 1023 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-27.8% +15.6%
327 283 453 Operating profit
to loss loss widened -26.0 -19.3 10.3 OPM %
-1023 bps -111 bps
-8.0% -6.8% 2.3% Other income
-23.3% +171.4%
5.0 1.8 6.5 Net profit?
to loss loss widened -47.0 -38.0 7.6 PAT margin %
-1606 bps -95 bps
-14.4% -13.4% 1.7% EPS (₹)
to loss loss widened -29.75 -23.95 4.83
Quality of profit
Pre-tax profit −₹42.0 Cr: core business −₹46.0 Cr, other income ₹5.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: loss widened
Cash & debt
FY26 cash from operations ₹109 Cr.
Borrowings ₹227 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹401 ₹327
-18.4% below Net profit ₹5.8 −₹47.0
-904.0% below
M Cap ₹777 Cr
P/E 19.8
PEG —
Profit -37% below its own trend Operating margin contracted 374 bps YoY 64% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -37%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+0.8% +0.7%
60.9 60.4 60.4 Operating profit
-27.8% -41.3%
5.7 9.8 7.9 OPM %
-374 bps -673 bps
9.4% 16.1% 13.2% Other income
+243.8% —
7.2 0.5 2.1 Net profit
+26.3% +25.9%
7.9 6.3 6.3 PAT margin %
+263 bps +260 bps
13.0% 10.4% 10.4% EPS (₹)
+26.7% +26.7%
1.28 1.01 1.01
Quality of profit
Pre-tax profit ₹11.2 Cr: core business ₹4.0 Cr, other income ₹7.2 Cr.
Core profit YoY: -37.0%
· reported profit +26.3%
Cash & debt
FY26 cash from operations ₹21.0 Cr:
79% of FY26 net profit of ₹26.7 Cr.
Borrowings ₹70.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹121 ₹60.9
-49.6% below Net profit ₹12.5 ₹7.9
-36.8% below
M Cap ₹776 Cr
P/E 29.4
PEG 2.10
Profit -65% below its own trend Operating margin contracted 236 bps YoY 33% 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
+13.4% -0.2%
392 393 345 Operating profit
-22.5% -27.6%
19.9 27.5 25.7 OPM %
-236 bps -192 bps
5.1% 7.0% 7.4% Other income
-2.1% +52.5%
2.1 1.4 2.1 Net profit?
-65.1% -58.4%
4.0 9.6 11.5 PAT margin %
-230 bps -143 bps
1.0% 2.5% 3.3% EPS (₹)
-53.8% -41.8%
1.96 3.37 4.24
Quality of profit
Pre-tax profit ₹6.3 Cr: core business ₹4.2 Cr, other income ₹2.1 Cr.
Core profit YoY: -69.9%
· reported profit -65.1%
Cash & debt
FY26 cash from operations −₹33.0 Cr:
-103% of FY26 net profit of ₹31.9 Cr.
Borrowings ₹474 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹460 ₹392
-14.8% below Net profit ₹11.4 ₹4.0
-64.8% below
M Cap ₹775 Cr
P/E 593.2
PEG —
Into loss: a profit a year ago Profit -535% below its own trend Operating margin contracted 2006 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+3.0% +15.5%
103 89.2 100 Operating profit
-90.9% -22.8%
2.0 2.6 22.0 OPM %
-2006 bps -96 bps
1.9% 2.9% 22.0% Other income
to loss to loss -66.0 12.3 3.0 Net profit?
to loss to loss -60.0 5.0 13.0 PAT margin %
-7125 bps -6389 bps
-58.3% 5.6% 13.0% EPS (₹)
to loss to loss -7.14 0.61 1.52
Quality of profit
Pre-tax profit −₹72.0 Cr: core business −₹6.0 Cr, other income −₹66.0 Cr.
Core profit YoY: to loss
Against its own trend ?
Trend Actual Gap
Sales ₹93.2 ₹103
+10.5% above Net profit ₹13.8 −₹60.0
-534.7% below
M Cap ₹769 Cr
P/E 26.6
PEG —
88% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -90%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+30.5% +0.1%
113 113 86.7 Operating profit
+28.3% -14.6%
25.6 29.9 19.9 OPM %
-37 bps -389 bps
22.6% 26.5% 23.0% Other income
+41.8% +61.5%
7.9 4.9 5.6 Net profit?
-37.5% -14.7%
8.2 9.6 13.1 PAT margin %
-790 bps -126 bps
7.3% 8.5% 15.2% EPS (₹)
-39.5% -11.9%
2.90 3.29 4.79
Quality of profit
Pre-tax profit ₹9.0 Cr: core business ₹1.1 Cr, other income ₹7.9 Cr.
Core profit YoY: -90.1%
· reported profit -37.5%
Cash & debt
FY26 cash from operations ₹82.0 Cr:
246% of FY26 net profit of ₹33.3 Cr.
Borrowings ₹641 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹98.1 ₹113
+15.3% above Net profit ₹8.9 ₹8.2
-8.0% in line
M Cap ₹768 Cr
P/E 118.3
PEG 3.82
Profit -67% below its own trend Operating margin contracted 282 bps YoY
₹ Cr YoY vs prev. half
Mar 2026 Sep 2025 Mar 2025
Sales
+6.1% +27.9%
139 109 131 Operating profit
-20.0% +30.2%
12.0 9.2 15.0 OPM %
-282 bps +15 bps
8.6% 8.5% 11.5% Other income
from loss +287.6%
1.0 0.3 -1.0 Net profit?
-33.3% +60.3%
4.0 2.5 6.0 PAT margin %
-170 bps +58 bps
2.9% 2.3% 4.6% EPS (₹)
-26.8% +52.7%
3.42 2.24 4.67
Quality of profit
Pre-tax profit ₹6.0 Cr: core business ₹5.0 Cr, other income ₹1.0 Cr.
Core profit YoY: -44.4%
· reported profit -33.3%
Cash & debt
FY26 cash from operations ₹3.0 Cr.
Borrowings ₹91.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹262 ₹139
-46.9% below Net profit ₹12.0 ₹4.0
-66.7% below
M Cap ₹766 Cr
P/E 33.1
PEG —
Operating margin expanded 771 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+12.7% +23.8%
30.4 24.5 26.9 Operating profit
+39.6% +85.8%
12.2 6.6 8.7 OPM %
+771 bps +1337 bps
40.1% 26.7% 32.4% Other income
-21.7% +74.8%
0.2 0.1 0.2 Net profit?
+29.4% +130.3%
8.4 3.6 6.5 PAT margin %
+355 bps +1273 bps
27.5% 14.8% 24.0% EPS (₹)
+9.5% +94.9%
1.15 0.59 1.05
Quality of profit
Pre-tax profit ₹10.4 Cr: core business ₹10.2 Cr, other income ₹0.2 Cr.
Core profit YoY: +29.1%
· reported profit +29.4%
M Cap ₹765 Cr
P/E 130.8
PEG —
Operating margin contracted 298 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
+79.9% +63.5%
214 131 119 Operating profit
+31.2% +51.3%
17.2 11.4 13.1 OPM %
-298 bps -65 bps
8.1% 8.7% 11.0% Other income
+98.7% +779.2%
13.9 1.6 7.0 Net profit?
-40.6% from loss 4.7 -0.6 8.0 PAT margin %
-448 bps +263 bps
2.2% -0.4% 6.7% EPS (₹)
-40.7% from loss 3.37 -0.40 5.68
Quality of profit
Pre-tax profit ₹2.0 Cr: core business −₹11.9 Cr, other income ₹13.9 Cr.
Core profit YoY: to loss
· reported profit -40.6%
Cash & debt
FY26 cash from operations ₹76.0 Cr:
266% of FY26 net profit of ₹28.6 Cr.
Borrowings ₹753 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹135 ₹214
+58.7% above
M Cap ₹764 Cr
P/E 21.1
PEG —
Profit +200% above its own trend Operating margin contracted 467 bps YoY 41% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+63.7% +39.5%
60.1 43.1 36.7 Operating profit
+14.7% -62.8%
6.6 17.6 5.7 OPM %
-467 bps -3004 bps
10.9% 41.0% 15.6% Other income
+370.3% +97.3%
4.2 2.1 0.9 Net profit?
+49.9% -64.5%
4.8 13.7 3.2 PAT margin %
-74 bps -2366 bps
8.1% 31.7% 8.8% EPS (₹)
+49.8% -64.5%
4.93 13.90 3.29
Quality of profit
Pre-tax profit ₹10.2 Cr: core business ₹6.1 Cr, other income ₹4.2 Cr.
Core profit YoY: +34.3%
· reported profit +49.9%
Cash & debt
FY26 cash from operations ₹104 Cr:
428% of FY26 net profit of ₹24.3 Cr.
Borrowings ₹154 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹36.2 ₹60.1
+65.9% above Net profit ₹1.6 ₹4.8
+199.7% above
M Cap ₹764 Cr
P/E 16.0
PEG 0.30
Profit +999% above its own trend Operating margin expanded 6251 bps YoY Core business grew faster than reported profit (core profit +799%) Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+121.0% +105.4%
33.0 16.1 14.9 Operating profit
+665.8% +308.5%
29.0 7.1 3.8 OPM %
+6251 bps +4370 bps
87.9% 44.2% 25.4% Other income
-100.0% loss narrowed 0.0 -0.6 0.3 Net profit
+610.1% +380.0%
24.0 5.0 3.4 PAT margin %
+5009 bps +4161 bps
72.7% 31.1% 22.6% EPS (₹)
+593.8% +386.6%
11.24 2.31 1.62
Quality of profit
Pre-tax profit ₹28.0 Cr: core business ₹29.0 Cr, other income ₹0.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +798.9%
· reported profit +610.1%
Cash & debt
FY26 cash from operations −₹91.0 Cr:
-216% of FY26 net profit of ₹42.2 Cr.
Borrowings nil at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹7.5 ₹33.0
+342.1% above Net profit ₹1.7 ₹24.0
+999.0% above
M Cap ₹764 Cr
P/E 252.0
PEG —
Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+116.7% +0.0%
0.1 0.1 0.1 Operating profit
loss widened loss widened -0.2 -0.2 -0.0 Other income
— —
0.0 0.0 0.0 Net profit
— —
-0.1 -0.1 0.0 PAT margin %
-10000 bps +0 bps
-100.0% -100.0% 0.0% EPS (₹)
— —
-0.36 -0.36 0.00
Quality of profit
Pre-tax profit −₹0.2 Cr: core business −₹0.2 Cr, other income ₹0.0 Cr.
Core profit YoY: loss widened
Cash & debt
FY26 cash from operations −₹2.0 Cr:
-66% of FY26 net profit of ₹3.0 Cr.
Borrowings nil at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹0.0 ₹0.1
+237.4% above
M Cap ₹761 Cr
P/E 9.5
PEG 0.09
Operating margin expanded 1837 bps YoY
₹ Cr YoY vs prev. half
Mar 2026 Sep 2025 Mar 2025
Sales
+83.0% +34.6%
183 136 100 Operating profit
+184.8% +70.9%
94.0 55.0 33.0 OPM %
+1837 bps +1092 bps
51.4% 40.4% 33.0% Other income
-100.0% -100.0%
0.0 4.0 3.0 Net profit?
+157.9% +58.1%
49.0 31.0 19.0 PAT margin %
+778 bps +398 bps
26.8% 22.8% 19.0% EPS (₹)
+154.9% +58.2%
19.96 12.62 7.83
Quality of profit
Pre-tax profit ₹54.0 Cr: core business ₹53.0 Cr, other income ₹0.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +120.8%
· reported profit +157.9%
Cash & debt
FY26 cash from operations ₹168 Cr.
Borrowings ₹377 Cr at Mar 2026.
M Cap ₹760 Cr
P/E 21.3
PEG —
Operating margin contracted 325 bps YoY Profit grew faster than the core business (core profit -7%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+27.3% -34.9%
104 160 82.0 Operating profit
-2.8% -45.9%
10.9 20.2 11.3 OPM %
-325 bps -213 bps
10.5% 12.6% 13.7% Other income
+735.9% +60.0%
2.2 1.4 0.3 Net profit?
+17.3% -46.7%
8.0 14.9 6.8 PAT margin %
-65 bps -168 bps
7.6% 9.3% 8.3% EPS (₹)
-14.6% -49.8%
1.35 2.69 1.58
Quality of profit
Pre-tax profit ₹10.7 Cr: core business ₹8.5 Cr, other income ₹2.2 Cr.
Core profit YoY: -6.5%
· reported profit +17.3%
M Cap ₹759 Cr
P/E 12.6
PEG —
Turnaround: profit against a loss a year ago Operating margin expanded 5857 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+11.9% +0.3%
56.0 55.9 50.1 Operating profit
+410.8% +6.3%
42.0 39.5 8.2 OPM %
+5857 bps +423 bps
75.0% 70.8% 16.4% Other income
— -27.9%
1.0 1.4 0.1 Net profit?
from loss -4.3%
14.0 14.6 -13.8 PAT margin %
+5253 bps -120 bps
25.0% 26.2% -27.5% EPS (₹)
from loss -1.6%
12.37 12.57 -11.74
Quality of profit
Pre-tax profit ₹20.0 Cr: core business ₹19.0 Cr, other income ₹1.0 Cr.
Core profit YoY: from loss
Cash & debt
FY26 cash from operations ₹66.0 Cr:
105% of FY26 net profit of ₹62.6 Cr.
Borrowings ₹371 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹57.2 ₹56.0
-2.1% in line
M Cap ₹756 Cr
P/E 15.0
PEG 0.43
Profit -66% below its own trend Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-26.8% -1.2%
100 101 137 Operating profit
-24.3% -53.1%
11.4 24.2 15.0 OPM %
+38 bps -1252 bps
11.3% 23.9% 10.9% Other income
— -42.5%
0.2 0.4 0.0 Net profit
-37.6% -66.2%
5.6 16.6 9.0 PAT margin %
-96 bps -1080 bps
5.6% 16.4% 6.6% EPS (₹)
-75.2% -68.3%
0.53 1.67 2.14
Quality of profit
Pre-tax profit ₹7.6 Cr: core business ₹7.3 Cr, other income ₹0.2 Cr.
Core profit YoY: -38.9%
· reported profit -37.6%
Cash & debt
FY26 cash from operations −₹7.0 Cr:
-15% of FY26 net profit of ₹48.3 Cr.
Borrowings ₹170 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹148 ₹100
-32.3% below Net profit ₹16.5 ₹5.6
-65.8% below
M Cap ₹754 Cr
P/E 4.9
PEG 0.07
Turnaround: profit against a loss a year ago Operating margin expanded 494 bps YoY 41% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-29.5% +14.3%
304 266 431 Operating profit
+58.9% +35.0%
27.0 20.0 17.0 OPM %
+494 bps +136 bps
8.9% 7.5% 3.9% Other income
+168.2% +250.0%
7.0 2.0 2.6 Net profit?
from loss +700.0%
32.0 4.0 -40.1 PAT margin %
+1982 bps +902 bps
10.5% 1.5% -9.3% EPS (₹)
from loss +793.8%
7.24 0.81 -8.32
Quality of profit
Pre-tax profit ₹17.0 Cr: core business ₹10.0 Cr, other income ₹7.0 Cr.
Core profit YoY: from loss
Cash & debt
FY26 cash from operations ₹71.0 Cr:
62% of FY26 net profit of ₹114 Cr.
Borrowings ₹291 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹420 ₹304
-27.6% below
M Cap ₹753 Cr
P/E 13.4
PEG 0.34
Profit -77% below its own trend Operating margin contracted 988 bps YoY All of pre-tax profit came from other income or one-off items FY26 operating cash flow was only 0% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-6.0% +1.0%
617 611 657 Operating profit
-57.8% -47.7%
49.7 95.1 118 OPM %
-988 bps -750 bps
8.1% 15.6% 17.9% Other income
from loss +303.5%
104 25.9 -69.5 Net profit?
-88.2% -81.6%
1.4 7.7 11.9 PAT margin %
-159 bps -102 bps
0.2% 1.3% 1.8% EPS (₹)
-88.4% -82.0%
0.11 0.61 0.95
Quality of profit
Pre-tax profit ₹32.4 Cr: core business −₹72.1 Cr, other income ₹104 Cr.
Core profit YoY: to loss
· reported profit -88.2%
Cash & debt
FY26 cash from operations ₹0.0 Cr:
0% of FY26 net profit of ₹62.0 Cr.
Borrowings ₹2,636 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹591 ₹617
+4.4% in line Net profit ₹6.2 ₹1.4
-77.1% below
M Cap ₹751 Cr
P/E 79.1
PEG —
Profit grew faster than the core business (core profit +81%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+6.6% -10.0%
163 182 153 Operating profit
+23.5% +120.6%
6.2 2.8 5.0 OPM %
+52 bps +225 bps
3.8% 1.5% 3.3% Other income
+86.2% +170.0%
1.1 0.4 0.6 Net profit?
+108.6% +354.8%
4.1 0.9 2.0 PAT margin %
+123 bps +202 bps
2.5% 0.5% 1.3% EPS (₹)
+108.3% +357.6%
3.02 0.66 1.45
Quality of profit
Pre-tax profit ₹4.9 Cr: core business ₹3.9 Cr, other income ₹1.1 Cr.
Core profit YoY: +80.8%
· reported profit +108.6%
Cash & debt
FY26 cash from operations ₹14.0 Cr:
194% of FY26 net profit of ₹7.2 Cr.
Borrowings ₹97.0 Cr at Mar 2026.
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, 07:31 IST
