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
Results calendar
Q2 FY27 Q1 FY27 Q4 FY26 Q3 FY26 Q2 FY26
The next results season has started: 45 companies have filed results for the quarter ended 30 Sep 2026.
See them → Q4 FY26 scoreboard
Sales growth
+12.4%
YoY, 4645 companies combined; median +11.7%
Net profit growth
+34.1%
YoY combined; median +16.1%
Operating margin
14.3%
+10 bps YoY
Grew profit
55%
472 turnarounds, 495 into loss
Vs own profit trend
38% / 48%
above / below, 14% in line
Banks: NII growth
+9.1%
120 lenders; profit +11.1%
Price since results
-3.9%
median; 31% of 35 stocks up
Other-income heavy
1375
25%+ of pre-tax profit from other income & one-offs
Filters & sorting
Results by sector
Latest Q4 FY26 results 5115
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Into loss: a profit a year ago Profit -878% below its own trend Operating margin contracted 3238 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+177.6% +175.3%
211 76.7 76.0 Operating profit
to loss to loss -35.0 20.5 12.0 OPM %
-3238 bps -4329 bps
-16.6% 26.7% 15.8% Other income
+50.0% -81.5%
6.0 32.4 4.0 Net profit?
to loss to loss -35.0 39.1 9.0 PAT margin %
-2843 bps -6753 bps
-16.6% 50.9% 11.8% EPS (₹)
to loss to loss -45.63 51.59 12.21
Quality of profit
Pre-tax profit −₹31.0 Cr: core business −₹37.0 Cr, other income ₹6.0 Cr.
Core profit YoY: to loss
Against its own trend ?
Trend Actual Gap
Sales ₹77.1 ₹211
+173.7% above Net profit ₹4.5 −₹35.0
-877.8% below
M Cap ₹750 Cr
P/E 38.4
PEG 12.80
Profit +33% above its own trend Operating margin expanded 844 bps YoY 50% 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
+108.9% +70.4%
148 87.1 71.0 Operating profit
— +54.4%
12.8 8.3 0.1 OPM %
+844 bps -89 bps
8.6% 9.5% 0.2% Other income
-17.0% +1.7%
4.8 4.7 5.8 Net profit?
-33.3% +31.6%
5.7 4.3 8.5 PAT margin %
-814 bps -112 bps
3.8% 4.9% 12.0% EPS (₹)
-35.5% +30.1%
2.16 1.66 3.35
Quality of profit
Pre-tax profit ₹9.6 Cr: core business ₹4.8 Cr, other income ₹4.8 Cr.
Core profit YoY: from loss
· reported profit -33.3%
Cash & debt
FY26 cash from operations −₹72.0 Cr:
-474% of FY26 net profit of ₹15.2 Cr.
Borrowings ₹110 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹59.1 ₹148
+151.2% above Net profit ₹4.2 ₹5.7
+33.3% above
M Cap ₹748 Cr
P/E 15.9
PEG —
Operating margin contracted 493 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+17.2% +14.8%
179 156 153 Operating profit
-21.9% -6.5%
17.7 18.9 22.6 OPM %
-493 bps -224 bps
9.8% 12.1% 14.8% Other income
+616.7% +9.7%
3.0 2.7 0.4 Net profit
-8.5% -4.8%
12.8 13.4 13.9 PAT margin %
-200 bps -146 bps
7.1% 8.6% 9.1% EPS (₹)
-32.2% -8.0%
4.61 5.01 6.80
Quality of profit
Pre-tax profit ₹17.2 Cr: core business ₹14.2 Cr, other income ₹3.0 Cr.
Core profit YoY: -22.8%
· reported profit -8.5%
M Cap ₹745 Cr
P/E 54.6
PEG —
Operating margin contracted 253 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-7.9% +34.5%
445 331 483 Operating profit
-49.0% -47.2%
14.0 26.5 27.5 OPM %
-253 bps -486 bps
3.1% 8.0% 5.7% Other income
+50.7% +73.8%
4.0 2.3 2.7 Net profit?
loss widened to loss -14.0 6.5 -5.2 PAT margin %
-206 bps -511 bps
-3.1% 2.0% -1.1% EPS (₹)
loss widened to loss -0.07 0.04 -0.03
Quality of profit
Pre-tax profit −₹3.0 Cr: core business −₹6.0 Cr, other income ₹4.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: to loss
Cash & debt
FY26 cash from operations ₹161 Cr:
931% of FY26 net profit of ₹17.3 Cr.
Borrowings ₹422 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹565 ₹445
-21.2% below
M Cap ₹744 Cr
P/E 33.8
PEG 16.90
Profit +26% above its own trend Operating margin contracted 181 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+13.1% +27.1%
226 178 200 Operating profit
-18.0% -5.7%
10.8 11.5 13.2 OPM %
-181 bps -166 bps
4.8% 6.5% 6.6% Other income
from loss -75.0%
0.0 0.2 -0.1 Net profit
-34.4% -27.6%
2.9 4.0 4.4 PAT margin %
-92 bps -96 bps
1.3% 2.2% 2.2% EPS (₹)
-34.1% -27.5%
0.29 0.40 0.44
Quality of profit
Pre-tax profit ₹3.9 Cr: core business ₹3.8 Cr, other income ₹0.0 Cr.
Core profit YoY: -43.9%
· reported profit -34.4%
Cash & debt
FY26 cash from operations ₹40.0 Cr:
161% of FY26 net profit of ₹24.8 Cr.
Borrowings ₹37.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹200 ₹226
+13.0% above Net profit ₹2.3 ₹2.9
+26.1% above
Operating margin contracted 1885 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+16.5% -1.3%
148 150 127 Operating profit
loss widened loss widened -85.0 -61.0 -49.0 OPM %
-1885 bps -1677 bps
-57.4% -40.7% -38.6% Other income
+200.0% from loss 3.0 -3.0 1.0 Net profit?
loss widened loss widened -99.0 -80.0 -62.0 PAT margin %
-1807 bps -1356 bps
-66.9% -53.3% -48.8% EPS (₹)
loss widened loss widened -8.67 -7.11 -5.40
Quality of profit
Pre-tax profit −₹98.0 Cr: core business −₹100 Cr, other income ₹3.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: loss widened
Cash & debt
FY26 cash from operations −₹258 Cr.
Borrowings ₹258 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹145 ₹148
+2.4% in line
M Cap ₹740 Cr
P/E 7.8
PEG 0.18
Profit +250% above its own trend Operating margin expanded 648 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+4.5% +16.6%
400 343 383 Operating profit
+112.5% +37.8%
51.0 37.0 24.0 OPM %
+648 bps +196 bps
12.8% 10.8% 6.3% Other income
to loss to loss -12.0 7.0 6.0 Net profit
+600.0% +223.1%
42.0 13.0 6.0 PAT margin %
+893 bps +671 bps
10.5% 3.8% 1.6% EPS (₹)
+555.6% +217.7%
9.31 2.93 1.42
Quality of profit
Pre-tax profit ₹19.0 Cr: core business ₹31.0 Cr, other income −₹12.0 Cr.
Core profit YoY: +578.3%
· reported profit +600.0%
Cash & debt
FY26 cash from operations ₹146 Cr:
154% of FY26 net profit of ₹94.7 Cr.
Borrowings ₹239 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹375 ₹400
+6.8% above Net profit ₹12.0 ₹42.0
+250.0% above
Operating margin contracted 4713 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-24.8% -31.5%
49.0 71.5 65.1 Operating profit
loss widened to loss -29.0 0.8 -7.8 OPM %
-4713 bps -6029 bps
-59.2% 1.1% -12.1% Other income
-27.8% -54.9%
4.0 8.9 5.5 Net profit
loss widened to loss -20.0 6.9 -2.7 PAT margin %
-3670 bps -5041 bps
-40.8% 9.6% -4.1% EPS (₹)
loss widened to loss -3.67 1.23 -0.50
Quality of profit
Pre-tax profit −₹30.0 Cr: core business −₹33.0 Cr, other income ₹4.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: loss widened
Cash & debt
FY26 cash from operations ₹18.0 Cr.
Borrowings nil at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹59.5 ₹49.0
-17.7% below
M Cap ₹737 Cr
P/E 19.9
PEG —
47% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -28%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-0.1% -18.9%
124 152 124 Operating profit
-4.1% -27.4%
16.7 23.0 17.4 OPM %
-57 bps -158 bps
13.5% 15.1% 14.1% Other income
+166.7% +491.4%
4.4 0.7 1.6 Net profit
-7.5% -44.9%
6.3 11.5 6.8 PAT margin %
-41 bps -241 bps
5.1% 7.5% 5.5% EPS (₹)
-32.3% -45.0%
1.05 1.91 1.55
Quality of profit
Pre-tax profit ₹9.4 Cr: core business ₹5.0 Cr, other income ₹4.4 Cr.
Core profit YoY: -28.0%
· reported profit -7.5%
M Cap ₹736 Cr
P/E 27.4
PEG —
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-10.2% -14.9%
125 147 139 Other income
+36.5% +157.5%
2.7 1.1 2.0 Net profit?
loss widened loss narrowed -3.0 -5.2 -2.6 PAT margin %
-54 bps +115 bps
-2.4% -3.5% -1.8% EPS (₹)
loss narrowed loss narrowed 0.00 -0.07 -0.02
Profit +37% above its own trend 48% of pre-tax profit came from other income and one-off items Exceptional items of ₹23.0 Cr in the quarter Profit grew faster than the core business (core profit +52%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+12.7% +30.5%
480 368 426 Operating profit
+14.3% +98.6%
50.9 25.6 44.5 OPM %
+16 bps +363 bps
10.6% 7.0% 10.4% Other income
-46.6% -27.3%
1.5 2.0 2.8 Net profit?
+174.7% —
40.0 1.9 14.6 PAT margin %
+492 bps +782 bps
8.3% 0.5% 3.4% EPS (₹)
+174.0% —
4.63 0.22 1.69
Quality of profit
Pre-tax profit ₹51.1 Cr: core business ₹26.7 Cr, other income ₹1.5 Cr, exceptional & other items ₹23.0 Cr.
Core profit YoY: +51.8%
· reported profit +174.7%
Cash & debt
FY26 cash from operations ₹183 Cr:
215% of FY26 net profit of ₹85.2 Cr.
Borrowings ₹303 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹454 ₹480
+5.8% above Net profit ₹29.1 ₹40.0
+37.3% above
M Cap ₹732 Cr
P/E 27.1
PEG 0.38
Profit -15% below its own trend 59% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +7%)
₹ Cr YoY vs prev. half
Mar 2026 Sep 2025 Mar 2025
Sales
+53.6% +30.2%
410 315 267 Operating profit
+66.7% +90.5%
40.0 21.0 24.0 OPM %
+77 bps +309 bps
9.8% 6.7% 9.0% Other income
— —
1.0 0.0 0.0 Net profit
+63.6% +100.0%
18.0 9.0 11.0 PAT margin %
+27 bps +153 bps
4.4% 2.9% 4.1% EPS (₹)
+61.9% +91.9%
17.16 8.94 10.60
Quality of profit
Pre-tax profit ₹36.5 Cr: core business ₹15.0 Cr, other income ₹1.0 Cr, exceptional & other items ₹20.5 Cr.
Core profit YoY: +7.1%
· reported profit +63.6%
Cash & debt
FY26 cash from operations −₹36.0 Cr.
Borrowings ₹229 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹324 ₹410
+26.7% above Net profit ₹21.3 ₹18.0
-15.5% below
M Cap ₹731 Cr
P/E 13.2
PEG 0.25
Profit +102% above its own trend Operating margin expanded 703 bps YoY Core business grew faster than reported profit (core profit +595%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+63.1% +4.8%
333 318 204 Operating profit
+324.4% +146.5%
38.0 15.4 9.0 OPM %
+703 bps +656 bps
11.4% 4.8% 4.4% Other income
to loss to loss -2.0 2.7 0.9 Net profit?
+303.6% +97.8%
19.0 9.6 4.7 PAT margin %
+340 bps +268 bps
5.7% 3.0% 2.3% EPS (₹)
+309.7% +100.7%
2.95 1.47 0.72
Quality of profit
Pre-tax profit ₹26.0 Cr: core business ₹28.0 Cr, other income −₹2.0 Cr.
Core profit YoY: +595.0%
· reported profit +303.6%
Cash & debt
FY26 cash from operations ₹62.0 Cr:
159% of FY26 net profit of ₹39.1 Cr.
Borrowings ₹151 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹337 ₹333
-1.1% in line Net profit ₹9.4 ₹19.0
+101.8% above
M Cap ₹730 Cr
P/E 160.4
PEG —
Into loss: a profit a year ago Profit -105% below its own trend Operating margin contracted 523 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
-10.1% +119.0%
101 46.3 113 Operating profit
-33.5% from loss 15.1 -2.2 22.7 OPM %
-523 bps +1964 bps
14.9% -4.8% 20.1% Other income
+47.6% +3.3%
6.2 6.0 4.2 Net profit?
to loss loss narrowed -0.6 -1.5 10.8 PAT margin %
-1017 bps +265 bps
-0.6% -3.2% 9.6% EPS (₹)
to loss loss narrowed -0.14 -0.26 1.84
Quality of profit
Pre-tax profit ₹0.6 Cr: core business −₹5.6 Cr, other income ₹6.2 Cr.
Core profit YoY: to loss
Cash & debt
FY26 cash from operations ₹70.0 Cr:
598% of FY26 net profit of ₹11.7 Cr.
Borrowings ₹309 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹111 ₹101
-8.7% below Net profit ₹11.4 −₹0.6
-105.3% below
M Cap ₹728 Cr
P/E 28.0
PEG 5.59
Profit +160% above its own trend Operating margin expanded 745 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+46.5% -16.8%
24.1 29.0 16.5 Operating profit
+74.1% +15.5%
11.3 9.8 6.5 OPM %
+745 bps +1312 bps
47.0% 33.9% 39.6% Other income
-26.5% +61.3%
0.5 0.3 0.7 Net profit?
+92.5% +23.1%
8.2 6.7 4.3 PAT margin %
+814 bps +1102 bps
34.1% 23.0% 25.9% EPS (₹)
+95.2% +23.7%
1.62 1.31 0.83
Quality of profit
Pre-tax profit ₹10.7 Cr: core business ₹10.2 Cr, other income ₹0.5 Cr.
Core profit YoY: +102.2%
· reported profit +92.5%
Cash & debt
FY26 cash from operations ₹18.0 Cr:
68% of FY26 net profit of ₹26.5 Cr.
Borrowings nil at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹17.8 ₹24.1
+35.7% above Net profit ₹3.2 ₹8.2
+160.2% above
Into loss: a profit a year ago
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-81.6% -7.8%
9.0 9.8 49.0 Operating profit
to loss loss widened -23.0 -15.2 13.0 Other income
— +150.0%
3.0 1.2 0.0 Net profit?
to loss loss widened -34.0 -25.1 4.0 EPS (₹)
to loss loss narrowed -0.11 -0.76 0.01
Quality of profit
Pre-tax profit −₹34.0 Cr: core business −₹38.0 Cr, other income ₹3.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: to loss
Cash & debt
FY26 cash from operations −₹29.0 Cr.
Borrowings ₹113 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹25.0 ₹9.0
-64.1% below
M Cap ₹726 Cr
P/E 16.5
PEG —
Profit -21% below its own trend Operating margin expanded 213 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
+19.1% -6.5%
110 118 92.5 Operating profit
+28.5% -18.2%
31.9 39.0 24.8 OPM %
+213 bps -417 bps
29.0% 33.1% 26.8% Other income
+304.3% +394.5%
8.8 1.8 2.2 Net profit?
+58.9% -8.4%
17.5 19.1 11.0 PAT margin %
+397 bps -34 bps
15.9% 16.2% 11.9% EPS (₹)
+58.8% -8.4%
5.75 6.28 3.62
Quality of profit
Pre-tax profit ₹23.9 Cr: core business ₹14.4 Cr, other income ₹8.8 Cr, exceptional & other items ₹0.7 Cr.
Core profit YoY: +1.6%
· reported profit +58.9%
Cash & debt
FY26 cash from operations ₹98.0 Cr:
254% of FY26 net profit of ₹38.6 Cr.
Borrowings ₹233 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹102 ₹110
+7.9% above Net profit ₹22.0 ₹17.5
-20.6% below
M Cap ₹717 Cr
P/E 16.8
PEG 0.28
Profit +15% above its own trend Operating margin expanded 379 bps YoY Core business grew faster than reported profit (core profit +215%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+38.1% +1.9%
137 135 99.3 Operating profit
+109.0% -21.6%
15.3 19.5 7.3 OPM %
+379 bps -334 bps
11.2% 14.5% 7.4% Other income
-41.8% +26.0%
1.9 1.5 3.3 Net profit?
+98.8% -5.5%
9.6 10.1 4.8 PAT margin %
+213 bps -54 bps
7.0% 7.5% 4.8% EPS (₹)
+98.1% -6.7%
4.20 4.50 2.12
Quality of profit
Pre-tax profit ₹12.2 Cr: core business ₹10.2 Cr, other income ₹1.9 Cr.
Core profit YoY: +214.7%
· reported profit +98.8%
Cash & debt
FY26 cash from operations ₹65.0 Cr:
147% of FY26 net profit of ₹44.3 Cr.
Borrowings ₹40.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹110 ₹137
+24.4% above Net profit ₹8.3 ₹9.6
+14.6% above
Profit +999% above its own trend Operating margin expanded 597 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
+4.4% -0.8%
496 500 475 Operating profit
+100.0% +3.3%
62.0 60.0 31.0 OPM %
+597 bps +50 bps
12.5% 12.0% 6.5% Other income
+650.0% from loss 15.0 -2.0 2.0 Net profit
+700.0% +88.2%
32.0 17.0 4.0 PAT margin %
+561 bps +305 bps
6.5% 3.4% 0.8% EPS (₹)
+701.5% +85.4%
5.21 2.81 0.65
Quality of profit
Pre-tax profit ₹47.0 Cr: core business ₹32.0 Cr, other income ₹15.0 Cr.
Core profit YoY: —
· reported profit +700.0%
Cash & debt
FY26 cash from operations ₹197 Cr:
318% of FY26 net profit of ₹62.0 Cr.
Borrowings ₹817 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹450 ₹496
+10.3% above Net profit ₹2.7 ₹32.0
+999.0% above
M Cap ₹713 Cr
P/E 9.9
PEG 1.41
Turnaround: profit against a loss a year ago Operating margin contracted 1270 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
+11.1% +5.7%
111 105 99.9 Operating profit
-33.5% -4.5%
21.0 22.0 31.6 OPM %
-1270 bps -203 bps
18.9% 21.0% 31.6% Other income
-1.0% -37.5%
5.0 8.0 5.1 Net profit?
from loss -6.2%
15.0 16.0 -13.2 PAT margin %
+2671 bps -172 bps
13.5% 15.2% -13.2% EPS (₹)
from loss -5.4%
2.12 2.24 -1.83
Quality of profit
Pre-tax profit ₹19.0 Cr: core business ₹14.0 Cr, other income ₹5.0 Cr.
Core profit YoY: -40.5%
Cash & debt
FY26 cash from operations ₹79.0 Cr:
109% of FY26 net profit of ₹72.8 Cr.
Borrowings ₹76.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹105 ₹111
+5.4% above
M Cap ₹712 Cr
P/E 10.3
PEG —
Operating margin expanded 401 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+28.3% -9.0%
101 111 78.7 Operating profit
+52.0% -3.7%
26.0 27.0 17.1 OPM %
+401 bps +142 bps
25.7% 24.3% 21.7% Other income
+187.9% +0.0%
2.0 2.0 0.7 Net profit
+56.0% -10.5%
17.0 19.0 10.9 PAT margin %
+299 bps -29 bps
16.8% 17.1% 13.8% EPS (₹)
+18.7% -7.2%
6.46 6.96 5.44
Quality of profit
Pre-tax profit ₹21.0 Cr: core business ₹19.0 Cr, other income ₹2.0 Cr.
Core profit YoY: +48.3%
· reported profit +56.0%
Profit +102% above its own trend Gross NPA up 93 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Total income
+4.2% +0.4%
274 273 263 Net interest income
— +5.0%
105 100 — Other income
— —
1.0 0.0 — Net profit
+54.3% +22.7%
54.0 44.0 35.0 EPS (₹)
+52.6% +22.8%
9.95 8.10 6.52 Gross NPA %
+93 bps -28 bps
4.0% 4.2% 3.0% Net NPA %
-35 bps -19 bps
1.6% 1.8% 2.0%
Against its own trend ?
Trend Actual Gap
Net profit ₹26.7 ₹54.0
+101.9% above
Turnaround: profit against a loss a year ago Operating margin expanded 365 bps YoY 67% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+2.5% +3.3%
117 114 115 Operating profit
+164.8% +7.0%
7.0 6.5 2.6 OPM %
+365 bps +21 bps
6.0% 5.7% 2.3% Other income
+596.7% from loss 2.1 -0.5 0.3 Net profit
from loss +595.1%
2.9 0.4 -0.6 PAT margin %
+293 bps +207 bps
2.4% 0.4% -0.5% EPS (₹)
from loss +595.5%
1.53 0.22 -0.31
Quality of profit
Pre-tax profit ₹3.1 Cr: core business ₹1.0 Cr, other income ₹2.1 Cr.
Core profit YoY: from loss
Cash & debt
FY26 cash from operations ₹6.0 Cr:
476% of FY26 net profit of ₹1.3 Cr.
Borrowings ₹54.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹133 ₹117
-11.5% below
M Cap ₹709 Cr
P/E 12.5
PEG —
Profit -85% below its own trend Operating margin contracted 552 bps YoY 47% 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
-34.6% +13.1%
253 224 387 Operating profit
-71.9% -52.6%
10.6 22.2 37.5 OPM %
-552 bps -577 bps
4.2% 9.9% 9.7% Other income
+2.5% +32.7%
5.8 4.4 5.7 Net profit?
-83.5% -66.9%
5.7 17.3 34.8 PAT margin %
-672 bps -547 bps
2.3% 7.7% 9.0% EPS (₹)
-83.8% -68.4%
0.25 0.79 1.54
Quality of profit
Pre-tax profit ₹12.5 Cr: core business ₹6.7 Cr, other income ₹5.8 Cr.
Core profit YoY: -78.5%
· reported profit -83.5%
Cash & debt
FY26 cash from operations −₹122 Cr:
-214% of FY26 net profit of ₹56.9 Cr.
Borrowings ₹300 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹498 ₹253
-49.2% below Net profit ₹38.5 ₹5.7
-85.2% below
M Cap ₹707 Cr
P/E 15.7
PEG 0.36
Profit +43% above its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Total income
+36.8% +3.3%
93.0 90.0 68.0 Net interest income
+28.2% +4.2%
50.0 48.0 39.0 Other income
— —
0.0 0.0 0.0 Net profit
+37.5% -15.4%
11.0 13.0 8.0 EPS (₹)
+38.8% -14.6%
2.22 2.60 1.60 Gross NPA %
-10 bps +20 bps
3.6% 3.4% 3.7% Net NPA %
-15 bps +10 bps
2.7% 2.6% 2.8%
Against its own trend ?
Trend Actual Gap
NII ₹45.7 ₹50.0
+9.5% above Net profit ₹7.7 ₹11.0
+43.5% above
M Cap ₹703 Cr
P/E 9.8
PEG 0.41
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+0.0% +13.3%
153 135 153 Operating profit
+4.3% -4.0%
24.0 25.0 23.0 OPM %
+65 bps -283 bps
15.7% 18.5% 15.0% Other income
+0.0% +0.0%
2.0 2.0 2.0 Net profit
+5.9% -5.3%
18.0 19.0 17.0 PAT margin %
+65 bps -231 bps
11.8% 14.1% 11.1% EPS (₹)
+2.7% -5.0%
3.02 3.18 2.94
Quality of profit
Pre-tax profit ₹24.0 Cr: core business ₹22.0 Cr, other income ₹2.0 Cr.
Core profit YoY: +4.8%
· reported profit +5.9%
Cash & debt
FY26 cash from operations ₹81.0 Cr:
111% of FY26 net profit of ₹73.0 Cr.
Borrowings ₹2.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹152 ₹153
+0.8% in line Net profit ₹19.2 ₹18.0
-6.2% in line
M Cap ₹699 Cr
P/E 13.7
PEG 0.28
Profit +348% above its own trend Operating margin expanded 190 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+13.0% +23.9%
258 208 228 Operating profit
+30.5% +62.5%
36.5 22.5 28.0 OPM %
+190 bps +337 bps
14.2% 10.8% 12.3% Other income
from loss -37.8%
0.6 1.0 -11.0 Net profit
+193.5% +103.2%
11.7 5.8 4.0 PAT margin %
+280 bps +178 bps
4.6% 2.8% 1.8% EPS (₹)
+213.5% +103.3%
9.78 4.81 3.12
Quality of profit
Pre-tax profit ₹18.4 Cr: core business ₹17.8 Cr, other income ₹0.6 Cr.
Core profit YoY: -6.2%
· reported profit +193.5%
Cash & debt
FY26 cash from operations ₹90.0 Cr:
251% of FY26 net profit of ₹35.8 Cr.
Borrowings ₹347 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹200 ₹258
+28.6% above Net profit ₹2.6 ₹11.7
+347.9% above
M Cap ₹696 Cr
P/E 8.5
PEG 0.04
Profit +624% above its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+248.8% +178.6%
886 318 254 Operating profit
+250.0% +276.9%
98.0 26.0 28.0 OPM %
+4 bps +288 bps
11.1% 8.2% 11.0% Other income
— -100.0%
0.0 2.0 0.0 Net profit?
+293.3% +555.6%
59.0 9.0 15.0 PAT margin %
+75 bps +383 bps
6.7% 2.8% 5.9% EPS (₹)
+304.3% +565.1%
53.61 8.06 13.26
Quality of profit
Pre-tax profit ₹78.0 Cr: core business ₹78.0 Cr, other income ₹0.0 Cr.
Core profit YoY: +290.0%
· reported profit +293.3%
Cash & debt
FY26 cash from operations ₹201 Cr:
203% of FY26 net profit of ₹98.8 Cr.
Borrowings ₹339 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹371 ₹886
+138.7% above Net profit ₹8.2 ₹59.0
+623.5% above
M Cap ₹696 Cr
P/E 10.2
PEG 0.60
Profit +11% above its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+15.0% +21.5%
261 215 227 Operating profit
+10.3% +15.4%
32.0 27.7 29.0 OPM %
-51 bps -64 bps
12.3% 12.9% 12.8% Other income
— +29.4%
2.0 1.5 0.0 Net profit?
+20.0% +21.1%
18.0 14.9 15.0 PAT margin %
+29 bps -2 bps
6.9% 6.9% 6.6% EPS (₹)
+15.8% +17.7%
4.99 4.24 4.31
Quality of profit
Pre-tax profit ₹24.0 Cr: core business ₹23.0 Cr, other income ₹2.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +21.1%
· reported profit +20.0%
Cash & debt
FY26 cash from operations ₹104 Cr:
155% of FY26 net profit of ₹67.1 Cr.
Borrowings ₹156 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹235 ₹261
+11.2% above Net profit ₹16.1 ₹18.0
+11.5% above
M Cap ₹694 Cr
P/E 30.6
PEG —
Profit +73% 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
+13.0% -13.7%
116 135 103 Operating profit
+15.0% -38.4%
17.5 28.4 15.2 OPM %
+26 bps -603 bps
15.1% 21.1% 14.8% Other income
-4.5% -22.8%
3.8 4.9 4.0 Net profit?
+34.4% -65.6%
2.9 8.3 2.1 PAT margin %
+39 bps -369 bps
2.4% 6.1% 2.1% EPS (₹)
+38.0% -60.8%
0.69 1.76 0.50
Quality of profit
Pre-tax profit ₹3.1 Cr: core business −₹0.7 Cr, other income ₹3.8 Cr.
Core profit YoY: loss narrowed
· reported profit +34.4%
Cash & debt
FY26 cash from operations ₹85.0 Cr:
410% of FY26 net profit of ₹20.7 Cr.
Borrowings ₹140 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹110 ₹116
+5.5% above Net profit ₹1.6 ₹2.9
+72.9% 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, 07:31 IST
