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 ₹694 Cr
P/E 155.3
PEG —
Operating margin contracted 874 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
-34.1% -20.1%
20.2 25.3 30.7 Operating profit
loss widened to loss -2.3 2.4 -0.9 OPM %
-874 bps -2099 bps
-11.6% 9.4% -2.8% Other income
+64.1% —
4.7 0.0 2.9 Net profit?
-80.6% -66.3%
0.3 0.9 1.6 PAT margin %
-357 bps -203 bps
1.5% 3.5% 5.1% EPS (₹)
-75.0% -60.0%
0.02 0.05 0.08
Quality of profit
Pre-tax profit ₹0.8 Cr: core business −₹3.9 Cr, other income ₹4.7 Cr.
Core profit YoY: loss widened
· reported profit -80.6%
Into loss: a profit a year ago Profit -198% below its own trend Operating margin expanded 130 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+14.1% +9.3%
898 822 788 Operating profit
+23.1% +3.7%
159 154 129 OPM %
+130 bps -95 bps
17.7% 18.7% 16.4% Other income
to loss to loss -19.8 10.6 13.4 Net profit?
to loss to loss -7.8 18.6 4.0 PAT margin %
-138 bps -314 bps
-0.9% 2.3% 0.5% EPS (₹)
loss narrowed loss widened -6.94 -0.49 -11.49
Quality of profit
Pre-tax profit ₹6.4 Cr: core business ₹26.2 Cr, other income −₹19.8 Cr.
Core profit YoY: +269.5%
Cash & debt
FY26 cash from operations ₹199 Cr.
Borrowings ₹3,946 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹941 ₹898
-4.5% in line Net profit ₹8.0 −₹7.8
-198.4% below
M Cap ₹691 Cr
P/E 15.0
PEG —
Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
loss widened to loss -99.0 29.0 -49.0 Operating profit
loss widened to loss -104 23.0 -54.0 Other income
-66.7% -50.0%
1.0 2.0 3.0 Net profit?
loss widened to loss -75.0 18.0 -40.0 PAT margin %
-588 bps +1369 bps
75.8% 62.1% 81.6% EPS (₹)
loss widened to loss -23.75 5.31 -11.71
Quality of profit
Pre-tax profit −₹104 Cr: core business −₹105 Cr, other income ₹1.0 Cr.
Core profit YoY: loss widened
Cash & debt
FY26 cash from operations −₹18.0 Cr:
-86% of FY26 net profit of ₹21.0 Cr.
Borrowings nil at Mar 2026.
M Cap ₹685 Cr
P/E 23.3
PEG 0.97
Profit -32% below its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+16.5% +195.8%
106 35.8 91.0 Operating profit
+11.8% +273.3%
19.0 5.1 17.0 OPM %
-76 bps +372 bps
17.9% 14.2% 18.7% Other income
— -100.0%
0.0 0.2 0.0 Net profit?
-8.3% +217.0%
11.0 3.5 12.0 PAT margin %
-281 bps +69 bps
10.4% 9.7% 13.2% EPS (₹)
-3.9% +226.7%
4.41 1.35 4.59
Quality of profit
Pre-tax profit ₹16.0 Cr: core business ₹16.0 Cr, other income ₹0.0 Cr.
Core profit YoY: +0.0%
· reported profit -8.3%
Cash & debt
FY26 cash from operations ₹26.0 Cr:
90% of FY26 net profit of ₹28.9 Cr.
Borrowings ₹50.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹127 ₹106
-16.2% below Net profit ₹16.1 ₹11.0
-31.6% below
M Cap ₹683 Cr
P/E 24.7
PEG 0.56
Profit +50% above its own trend Operating margin contracted 238 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+9.1% +1.9%
374 367 343 Operating profit
-0.9% +216.8%
88.0 27.8 88.8 OPM %
-238 bps +1596 bps
23.5% 7.6% 25.9% Other income
+115.7% +882.1%
11.0 1.1 5.1 Net profit?
+2.2% —
63.0 3.9 61.7 PAT margin %
-114 bps +1577 bps
16.8% 1.1% 18.0% EPS (₹)
+1.8% —
16.06 1.01 15.77
Quality of profit
Pre-tax profit ₹84.0 Cr: core business ₹74.0 Cr, other income ₹11.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +0.9%
· reported profit +2.2%
Cash & debt
FY26 cash from operations ₹73.0 Cr:
196% of FY26 net profit of ₹37.3 Cr.
Borrowings nil at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹371 ₹374
+0.9% in line Net profit ₹42.1 ₹63.0
+49.8% above
Operating margin expanded 547 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-12.3% +18.7%
156 131 178 Operating profit
from loss from loss 2.1 -10.6 -7.3 OPM %
+547 bps +940 bps
1.3% -8.1% -4.1% Other income
-87.0% from loss 0.9 -3.8 6.8 Net profit?
loss narrowed loss narrowed -7.4 -26.6 -9.5 PAT margin %
+61 bps +1555 bps
-4.7% -20.3% -5.4% EPS (₹)
loss narrowed loss narrowed -0.88 -3.18 -1.14
Quality of profit
Pre-tax profit −₹7.8 Cr: core business −₹8.7 Cr, other income ₹0.9 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY26 cash from operations ₹23.0 Cr.
Borrowings ₹165 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹189 ₹156
-17.3% below
M Cap ₹683 Cr
P/E 12.8
PEG 1.82
Profit -44% below its own trend Operating margin contracted 1120 bps YoY Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+2.1% +3.3%
55.3 53.5 54.1 Operating profit
-35.4% -39.0%
10.7 17.5 16.5 OPM %
-1120 bps -1339 bps
19.3% 32.7% 30.5% Other income
-38.1% -10.5%
1.9 2.1 3.1 Net profit?
-33.6% -36.3%
9.1 14.3 13.7 PAT margin %
-887 bps -1027 bps
16.5% 26.7% 25.3% EPS (₹)
-33.7% -36.4%
3.41 5.36 5.14
Quality of profit
Pre-tax profit ₹12.4 Cr: core business ₹10.5 Cr, other income ₹1.9 Cr.
Core profit YoY: -35.4%
· reported profit -33.6%
Cash & debt
FY26 cash from operations −₹34.0 Cr:
-56% of FY26 net profit of ₹60.9 Cr.
Borrowings ₹12.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹65.0 ₹55.3
-14.9% below Net profit ₹16.2 ₹9.1
-43.9% below
M Cap ₹681 Cr
P/E 46.4
PEG —
Operating margin contracted 688 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+6.8% +3.4%
77.0 74.5 72.1 Operating profit
-21.1% -2.6%
15.0 15.4 19.0 OPM %
-688 bps -119 bps
19.4% 20.6% 26.3% Other income
+937.5% +144.1%
1.7 0.7 0.2 Net profit
-7.2% +19.4%
5.5 4.6 6.0 PAT margin %
-109 bps +97 bps
7.2% 6.2% 8.3% EPS (₹)
-31.4% +19.3%
1.42 1.19 2.07
Quality of profit
Pre-tax profit ₹7.6 Cr: core business ₹6.0 Cr, other income ₹1.7 Cr.
Core profit YoY: -25.4%
· reported profit -7.2%
Operating margin contracted 1126 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-1.8% +2.6%
390 380 397 Operating profit
-72.6% -55.3%
17.0 38.0 62.0 OPM %
-1126 bps -564 bps
4.4% 10.0% 15.6% Other income
+344.0% -20.7%
23.0 29.0 5.2 Net profit
-82.9% -78.6%
6.0 28.0 35.0 PAT margin %
-728 bps -583 bps
1.5% 7.4% 8.8% EPS (₹)
-83.6% -79.3%
0.58 2.80 3.54
Quality of profit
Pre-tax profit −₹1.0 Cr: core business −₹24.0 Cr, other income ₹23.0 Cr.
Core profit YoY: loss narrowed
· reported profit -82.9%
M Cap ₹676 Cr
P/E 9.2
PEG 0.35
Into loss: a profit a year ago Operating margin expanded 792 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+29.6% +12.9%
105 93.2 81.1 Operating profit
+127.0% +8.9%
19.4 17.9 8.6 OPM %
+792 bps -69 bps
18.5% 19.2% 10.6% Other income
-86.3% -97.0%
1.7 58.4 12.7 Net profit?
to loss to loss -8.8 47.9 2.1 PAT margin %
-1097 bps -5981 bps
-8.3% 51.5% 2.6% EPS (₹)
loss widened to loss -1.25 2.30 -0.20
Quality of profit
Pre-tax profit −₹5.8 Cr: core business −₹7.6 Cr, other income ₹1.7 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY26 cash from operations ₹52.0 Cr:
106% of FY26 net profit of ₹49.3 Cr.
Borrowings ₹485 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹150 ₹105
-30.0% below
M Cap ₹676 Cr
P/E 12.0
PEG 0.11
Profit -46% below its own trend FY26 operating cash flow was only 48% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-4.1% +1.9%
165 162 172 Operating profit
+1.3% +11.1%
30.0 27.0 29.6 OPM %
+96 bps +152 bps
18.2% 16.7% 17.2% Other income
to loss —
-3.0 0.0 1.8 Net profit
+8.6% +37.5%
22.0 16.0 20.3 PAT margin %
+156 bps +346 bps
13.3% 9.9% 11.8% EPS (₹)
+0.5% +37.4%
6.21 4.52 6.18
Quality of profit
Pre-tax profit ₹15.0 Cr: core business ₹19.0 Cr, other income −₹3.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +10.4%
· reported profit +8.6%
Cash & debt
FY26 cash from operations ₹32.0 Cr:
48% of FY26 net profit of ₹66.5 Cr.
Borrowings ₹224 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹211 ₹165
-21.6% below Net profit ₹40.5 ₹22.0
-45.7% below
M Cap ₹674 Cr
P/E 20.4
PEG 0.43
Profit -76% below its own trend Operating margin expanded 2287 bps YoY Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-6.7% +43.5%
160 112 172 Operating profit
from loss +228.7%
21.5 6.5 -16.3 OPM %
+2287 bps +755 bps
13.4% 5.8% -9.5% Other income
-71.2% -11.7%
5.2 5.9 18.0 Net profit?
-56.5% -20.0%
6.5 8.1 14.9 PAT margin %
-461 bps -320 bps
4.0% 7.2% 8.6% EPS (₹)
-52.5% -20.2%
0.67 0.84 1.41
Quality of profit
Pre-tax profit ₹16.6 Cr: core business ₹15.2 Cr, other income ₹5.2 Cr, exceptional & other items −₹3.8 Cr.
Core profit YoY: from loss
· reported profit -56.5%
Cash & debt
FY26 cash from operations −₹4.0 Cr:
-19% of FY26 net profit of ₹20.6 Cr.
Borrowings ₹86.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹103 ₹160
+55.9% above Net profit ₹26.5 ₹6.5
-75.6% below
Operating margin expanded 115 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+27.8% -1.7%
1,754 1,785 1,372 Operating profit
+105.9% +2.6%
53.1 51.8 25.8 OPM %
+115 bps +13 bps
3.0% 2.9% 1.9% Other income
+18.8% -3.8%
4.6 4.8 3.9 Net profit?
loss narrowed to loss -5.0 0.7 -13.7 PAT margin %
+72 bps -32 bps
-0.3% 0.0% -1.0% EPS (₹)
loss narrowed to loss -0.70 0.09 -1.93
Quality of profit
Pre-tax profit −₹7.2 Cr: core business −₹11.8 Cr, other income ₹4.6 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY26 cash from operations ₹100 Cr.
Borrowings ₹1,406 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,592 ₹1,754
+10.2% above
M Cap ₹670 Cr
P/E 11.1
PEG 1.11
Profit -16% below its own trend Operating margin expanded 392 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+0.0% +4.5%
51.0 48.8 51.0 Operating profit
+11.8% +18.2%
19.0 16.1 17.0 OPM %
+392 bps +432 bps
37.3% 32.9% 33.3% Other income
-25.0% -7.7%
3.0 3.2 4.0 Net profit?
+6.7% +21.4%
16.0 13.2 15.0 PAT margin %
+196 bps +438 bps
31.4% 27.0% 29.4% EPS (₹)
+10.6% +23.7%
1.46 1.18 1.32
Quality of profit
Pre-tax profit ₹21.0 Cr: core business ₹18.0 Cr, other income ₹3.0 Cr.
Core profit YoY: +20.0%
· reported profit +6.7%
Cash & debt
FY26 cash from operations ₹41.0 Cr:
69% of FY26 net profit of ₹59.4 Cr.
Borrowings ₹71.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹58.2 ₹51.0
-12.4% below Net profit ₹19.0 ₹16.0
-15.6% below
M Cap ₹668 Cr
P/E 7.0
PEG 0.28
Profit +39% above its own trend Operating margin expanded 759 bps YoY Core business grew faster than reported profit (core profit +209%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+45.8% -9.0%
245 269 168 Operating profit
+178.6% +1.8%
39.0 38.3 14.0 OPM %
+759 bps +169 bps
15.9% 14.2% 8.3% Other income
-50.0% +0.0%
2.0 2.0 4.0 Net profit
+136.4% +0.0%
26.0 26.0 11.0 PAT margin %
+406 bps +96 bps
10.6% 9.7% 6.5% EPS (₹)
+134.1% +2.4%
2.95 2.88 1.26
Quality of profit
Pre-tax profit ₹36.0 Cr: core business ₹34.0 Cr, other income ₹2.0 Cr.
Core profit YoY: +209.1%
· reported profit +136.4%
Cash & debt
FY26 cash from operations ₹52.0 Cr:
74% of FY26 net profit of ₹70.0 Cr.
Borrowings ₹107 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹247 ₹245
-0.9% in line Net profit ₹18.8 ₹26.0
+38.5% above
Into loss: a profit a year ago Profit -203% below its own trend Operating margin contracted 300 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+5.1% +1.3%
141 139 134 Operating profit
-15.4% +11.2%
17.4 15.7 20.6 OPM %
-300 bps +111 bps
12.4% 11.3% 15.4% Other income
loss widened to loss -23.7 8.3 -5.5 Net profit
to loss to loss -9.1 17.2 9.3 PAT margin %
-1339 bps -1882 bps
-6.4% 12.4% 7.0% EPS (₹)
to loss to loss -15.49 29.44 15.94
Quality of profit
Pre-tax profit −₹8.6 Cr: core business ₹15.1 Cr, other income −₹23.7 Cr.
Core profit YoY: -19.4%
Cash & debt
FY26 cash from operations ₹42.0 Cr:
81% of FY26 net profit of ₹51.7 Cr.
Borrowings ₹9.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹171 ₹141
-17.5% below Net profit ₹8.8 −₹9.1
-203.1% below
M Cap ₹667 Cr
P/E 45.7
PEG 0.80
Profit +153% above its own trend Core business grew faster than reported profit (core profit +179%)
₹ Cr YoY vs prev. half
Mar 2026 Sep 2025 Mar 2025
Sales
+85.9% +37.3%
535 390 288 Operating profit
+90.9% +6.1%
9.5 9.0 5.0 OPM %
+5 bps -52 bps
1.8% 2.3% 1.7% Other income
— —
1.1 0.0 0.0 Net profit?
+152.5% +8.2%
7.6 7.0 3.0 PAT margin %
+37 bps -38 bps
1.4% 1.8% 1.0% EPS (₹)
+196.7% +13.2%
21.78 19.24 7.34
Quality of profit
Pre-tax profit ₹9.5 Cr: core business ₹8.4 Cr, other income ₹1.1 Cr.
Core profit YoY: +179.1%
· reported profit +152.5%
Cash & debt
FY26 cash from operations ₹9.0 Cr.
Borrowings ₹27.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹333 ₹535
+60.7% above Net profit ₹3.0 ₹7.6
+152.5% above
M Cap ₹666 Cr
P/E 11.7
PEG 11.75
Profit +134% above its own trend Operating margin expanded 152 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+2.1% +167.7%
647 242 634 Operating profit
+45.4% +84.3%
33.0 17.9 22.7 OPM %
+152 bps -231 bps
5.1% 7.4% 3.6% Other income
+293.9% -20.9%
1.0 1.3 0.3 Net profit?
+63.4% +78.9%
18.0 10.1 11.0 PAT margin %
+104 bps -138 bps
2.8% 4.2% 1.7% EPS (₹)
+53.8% +75.8%
5.89 3.35 3.83
Quality of profit
Pre-tax profit ₹27.0 Cr: core business ₹25.0 Cr, other income ₹1.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +78.3%
· reported profit +63.4%
Cash & debt
FY26 cash from operations ₹44.0 Cr:
83% of FY26 net profit of ₹53.1 Cr.
Borrowings ₹131 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹562 ₹647
+15.0% above Net profit ₹7.7 ₹18.0
+134.4% above
M Cap ₹666 Cr
P/E 12.3
PEG 0.59
Profit +252% above its own trend Profit grew faster than the core business (core profit +83%) Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+31.3% +8.3%
130 120 99.0 Operating profit
+30.0% +8.3%
65.0 60.0 50.0 OPM %
-51 bps +0 bps
50.0% 50.0% 50.5% Other income
— from loss 4.0 -3.0 0.0 Net profit
+111.1% +35.7%
19.0 14.0 9.0 PAT margin %
+552 bps +295 bps
14.6% 11.7% 9.1% EPS (₹)
+100.6% +31.3%
3.31 2.52 1.65
Quality of profit
Pre-tax profit ₹26.0 Cr: core business ₹22.0 Cr, other income ₹4.0 Cr.
Core profit YoY: +83.3%
· reported profit +111.1%
Cash & debt
FY26 cash from operations −₹317 Cr:
-547% of FY26 net profit of ₹58.0 Cr.
Borrowings ₹2,206 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹90.0 ₹130
+44.5% above Net profit ₹5.4 ₹19.0
+252.2% above
M Cap ₹665 Cr
P/E 15.5
PEG —
Profit -86% below its own trend Operating margin contracted 741 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-3.0% -12.0%
49.3 56.0 50.8 Operating profit
-34.8% -37.6%
7.5 12.0 11.5 OPM %
-741 bps -623 bps
15.2% 21.4% 22.6% Other income
to loss to loss -1.7 2.0 1.4 Net profit?
-84.9% -85.7%
1.0 7.0 6.6 PAT margin %
-1099 bps -1047 bps
2.0% 12.5% 13.0% EPS (₹)
-84.8% -84.6%
0.38 2.47 2.50
Quality of profit
Pre-tax profit ₹1.4 Cr: core business ₹3.2 Cr, other income −₹1.7 Cr.
Core profit YoY: -57.9%
· reported profit -84.9%
Cash & debt
FY26 cash from operations ₹57.0 Cr:
173% of FY26 net profit of ₹33.0 Cr.
Borrowings ₹16.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹55.6 ₹49.3
-11.4% below Net profit ₹7.1 ₹1.0
-86.0% below
M Cap ₹663 Cr
P/E 41.7
PEG —
Operating margin contracted 138 bps YoY Profit grew faster than the core business (core profit -73%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+59.2% +75.3%
92.0 52.5 57.8 Operating profit
+25.9% from loss 4.8 -0.9 3.8 OPM %
-138 bps +692 bps
5.2% -1.7% 6.6% Other income
from loss -72.9%
0.2 0.6 -2.3 Net profit?
+151.4% from loss 1.8 -7.1 0.7 PAT margin %
+70 bps +1536 bps
1.9% -13.5% 1.2% EPS (₹)
+146.2% from loss 0.32 -1.30 0.13
Quality of profit
Pre-tax profit ₹1.0 Cr: core business ₹0.9 Cr, other income ₹0.2 Cr.
Core profit YoY: -73.2%
· reported profit +151.4%
Cash & debt
FY26 cash from operations −₹10.0 Cr.
Borrowings ₹46.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹116 ₹92.0
-20.4% below
M Cap ₹662 Cr
P/E 16.7
PEG —
Operating margin contracted 1069 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+6.7% +0.5%
115 115 108 Operating profit
-16.8% -11.4%
43.6 49.2 52.4 OPM %
-1069 bps -510 bps
37.8% 42.9% 48.5% Other income
to loss to loss -13.0 0.1 0.6 Net profit?
-84.2% -87.9%
3.7 30.4 23.3 PAT margin %
-1836 bps -2335 bps
3.2% 26.5% 21.5% EPS (₹)
-100.0% —
0.53 — 11900.00
Quality of profit
Pre-tax profit ₹11.5 Cr: core business ₹24.5 Cr, other income −₹13.0 Cr.
Core profit YoY: -22.1%
· reported profit -84.2%
Into loss: a profit a year ago Profit -314% below its own trend Operating margin contracted 308 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+3.7% -0.9%
924 933 891 Operating profit
-23.4% -28.8%
80.4 113 105 OPM %
-308 bps -341 bps
8.7% 12.1% 11.8% Other income
+32.3% +76.4%
10.6 6.0 8.0 Net profit?
to loss to loss -13.9 12.0 11.0 PAT margin %
-274 bps -279 bps
-1.5% 1.3% 1.2% EPS (₹)
to loss to loss -1.34 0.98 0.95
Quality of profit
Pre-tax profit −₹20.4 Cr: core business −₹30.7 Cr, other income ₹10.6 Cr.
Core profit YoY: to loss
Cash & debt
FY26 cash from operations ₹360 Cr:
2982% of FY26 net profit of ₹12.1 Cr.
Borrowings ₹502 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹969 ₹924
-4.6% in line Net profit ₹6.5 −₹13.9
-313.6% below
M Cap ₹660 Cr
P/E 20.1
PEG 5.03
Profit +58% above its own trend Operating margin expanded 326 bps YoY 26% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +52%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+17.9% +2.9%
62.7 60.9 53.2 Operating profit
+48.4% +27.0%
9.9 7.8 6.7 OPM %
+326 bps +300 bps
15.9% 12.9% 12.6% Other income
+228.8% +28.1%
3.3 2.6 1.0 Net profit
+82.6% +28.4%
9.7 7.5 5.3 PAT margin %
+546 bps +306 bps
15.4% 12.4% 10.0% EPS (₹)
+82.5% +28.6%
4.18 3.25 2.29
Quality of profit
Pre-tax profit ₹12.8 Cr: core business ₹9.5 Cr, other income ₹3.3 Cr.
Core profit YoY: +51.9%
· reported profit +82.6%
Cash & debt
FY26 cash from operations ₹31.0 Cr:
108% of FY26 net profit of ₹28.7 Cr.
Borrowings ₹2.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹57.7 ₹62.7
+8.7% above Net profit ₹6.1 ₹9.7
+57.7% above
M Cap ₹659 Cr
P/E 3.5
PEG 0.14
Turnaround: profit against a loss a year ago Operating margin expanded 770 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
+4.9% -1.7%
281 286 268 Operating profit
+82.1% +45.7%
51.0 35.0 28.0 OPM %
+770 bps +591 bps
18.1% 12.2% 10.4% Other income
+165.0% +98.8%
159 80.0 60.0 Net profit?
from loss +88.6%
132 70.0 -114 PAT margin %
+8951 bps +2250 bps
47.0% 24.5% -42.5% EPS (₹)
from loss +138.5%
6.25 2.62 -1.56
Quality of profit
Pre-tax profit ₹140 Cr: core business −₹19.0 Cr, other income ₹159 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY26 cash from operations ₹172 Cr:
82% of FY26 net profit of ₹209 Cr.
Borrowings ₹827 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹278 ₹281
+1.0% in line
M Cap ₹659 Cr
P/E 22.3
PEG —
Profit -55% below its own trend Operating margin expanded 690 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-23.9% +21.2%
389 321 511 Operating profit
+22.4% +91.9%
71.0 37.0 58.0 OPM %
+690 bps +673 bps
18.3% 11.5% 11.4% Other income
-20.0% —
4.0 0.0 5.0 Net profit
-9.8% +228.6%
46.0 14.0 51.0 PAT margin %
+184 bps +746 bps
11.8% 4.4% 10.0% EPS (₹)
-10.4% +233.6%
4.07 1.22 4.54
Quality of profit
Pre-tax profit ₹46.0 Cr: core business ₹43.0 Cr, other income ₹4.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +7.5%
· reported profit -9.8%
Cash & debt
FY26 cash from operations ₹44.0 Cr:
314% of FY26 net profit of ₹14.0 Cr.
Borrowings ₹668 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹665 ₹389
-41.5% below Net profit ₹102 ₹46.0
-54.9% below
M Cap ₹659 Cr
P/E 23.0
PEG 0.44
Profit +197% above its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+36.2% +2.4%
256 250 188 Operating profit
+38.5% +5.9%
18.0 17.0 13.0 OPM %
+12 bps +23 bps
7.0% 6.8% 6.9% Other income
— from loss 1.0 -1.0 0.0 Net profit
+160.0% +85.7%
13.0 7.0 5.0 PAT margin %
+242 bps +228 bps
5.1% 2.8% 2.7% EPS (₹)
+169.1% +77.7%
8.37 4.71 3.11
Quality of profit
Pre-tax profit ₹11.0 Cr: core business ₹10.0 Cr, other income ₹1.0 Cr.
Core profit YoY: +150.0%
· reported profit +160.0%
Cash & debt
FY26 cash from operations ₹59.0 Cr:
219% of FY26 net profit of ₹27.0 Cr.
Borrowings ₹124 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹186 ₹256
+37.7% above Net profit ₹4.4 ₹13.0
+197.1% above
Into loss: a profit a year ago Operating margin contracted 735 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-3.2% -1.8%
116 118 120 Operating profit
-69.8% -49.0%
3.9 7.6 12.8 OPM %
-735 bps -309 bps
3.3% 6.4% 10.7% Other income
to loss to loss -16.0 2.9 5.4 Net profit?
to loss to loss -18.2 3.9 9.5 PAT margin %
-2355 bps -1894 bps
-15.7% 3.3% 7.9% EPS (₹)
to loss to loss -2.09 0.45 1898.00
Quality of profit
Pre-tax profit −₹16.8 Cr: core business −₹0.8 Cr, other income −₹16.0 Cr.
Core profit YoY: to loss
Operating margin contracted 288 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-4.7% +5.8%
319 301 335 Operating profit
loss widened to loss -23.0 12.4 -14.5 OPM %
-288 bps -1133 bps
-7.2% 4.1% -4.3% Other income
to loss to loss -6.0 3.8 3.1 Net profit?
loss widened loss widened -58.0 -23.4 -41.7 PAT margin %
-573 bps -1040 bps
-18.2% -7.8% -12.4% EPS (₹)
loss widened loss widened -14.45 -5.81 -10.37
Quality of profit
Pre-tax profit −₹68.0 Cr: core business −₹62.0 Cr, other income −₹6.0 Cr.
Core profit YoY: loss widened
Cash & debt
FY26 cash from operations −₹96.0 Cr.
Borrowings ₹576 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹417 ₹319
-23.5% below
M Cap ₹654 Cr
P/E 56.8
PEG —
Operating margin contracted 202 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
-16.0% +0.9%
246 244 293 Operating profit
-61.2% +13.3%
4.3 3.8 11.0 OPM %
-202 bps +19 bps
1.7% 1.5% 3.8% Other income
+239.5% +51.6%
4.2 2.8 1.2 Net profit?
-43.2% +112.9%
3.8 1.8 6.7 PAT margin %
-74 bps +81 bps
1.5% 0.7% 2.3% EPS (₹)
-25.0% +200.0%
0.03 0.01 0.04
Quality of profit
Pre-tax profit ₹3.6 Cr: core business −₹0.6 Cr, other income ₹4.2 Cr.
Core profit YoY: to loss
· reported profit -43.2%
Cash & debt
FY26 cash from operations −₹109 Cr:
-946% of FY26 net profit of ₹11.5 Cr.
Borrowings ₹130 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹339 ₹246
-27.3% below Net profit ₹3.7 ₹3.8
+1.5% in line
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, 08:39 IST
