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
Page 56 of 171
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Operating margin contracted 571 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+8.7% +3.8%
301 290 277 Operating profit
-20.0% +23.1%
48.0 39.0 60.0 OPM %
-571 bps +250 bps
15.9% 13.4% 21.7% Other income
+0.0% -50.0%
1.0 2.0 1.0 Net profit
-46.2% +40.0%
14.0 10.0 26.0 PAT margin %
-474 bps +120 bps
4.7% 3.4% 9.4% EPS (₹)
-45.2% +46.4%
1.64 1.12 2.99
Quality of profit
Pre-tax profit ₹19.0 Cr: core business ₹18.0 Cr, other income ₹1.0 Cr.
Core profit YoY: -48.6%
· reported profit -46.2%
Cash & debt
Borrowings ₹870 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹267 ₹301
+12.6% above Net profit ₹13.0 ₹14.0
+7.7% in line
M Cap ₹651 Cr
P/E 14.2
PEG —
Operating margin expanded 235 bps YoY Core business grew faster than reported profit (core profit +120%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-0.9% +3.0%
218 212 220 Operating profit
+38.5% -21.3%
18.0 22.9 13.0 OPM %
+235 bps -254 bps
8.3% 10.8% 5.9% Other income
+100.0% +125.4%
2.0 0.9 1.0 Net profit
+100.0% -18.0%
10.0 12.2 5.0 PAT margin %
+231 bps -117 bps
4.6% 5.8% 2.3% EPS (₹)
+87.3% -21.9%
2.36 3.02 1.26
Quality of profit
Pre-tax profit ₹13.0 Cr: core business ₹11.0 Cr, other income ₹2.0 Cr.
Core profit YoY: +120.0%
· reported profit +100.0%
M Cap ₹650 Cr
P/E 7.1
PEG 0.79
Profit -11% below its own trend Operating margin contracted 225 bps YoY 29% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -23%) Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+9.7% +2.0%
314 308 286 Operating profit
-14.5% -35.6%
25.0 38.8 29.2 OPM %
-225 bps -464 bps
8.0% 12.6% 10.2% Other income
+525.0% +591.7%
6.0 0.9 1.0 Net profit?
+4.2% -21.3%
20.0 25.4 19.2 PAT margin %
-34 bps -189 bps
6.4% 8.3% 6.7% EPS (₹)
-2.6% -22.9%
0.37 0.48 adj. 0.38
EPS restated for the ₹5 to ₹1 split of Jul 2025: Mar 2025 ₹1.90 to ₹0.38.
Quality of profit
Pre-tax profit ₹21.0 Cr: core business ₹15.0 Cr, other income ₹6.0 Cr.
Core profit YoY: -23.4%
· reported profit +4.2%
Cash & debt
FY26 cash from operations −₹10.0 Cr:
-11% of FY26 net profit of ₹92.1 Cr.
Borrowings ₹191 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹320 ₹314
-1.9% in line Net profit ₹22.6 ₹20.0
-11.4% below
M Cap ₹649 Cr
P/E 19.9
PEG 2.84
Profit +189% above its own trend Operating margin contracted 297 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+17.8% +11.1%
105 94.5 89.2 Operating profit
-1.4% +7.9%
16.0 14.8 16.2 OPM %
-297 bps -45 bps
15.2% 15.7% 18.2% Other income
-100.0% loss narrowed 0.0 -3.0 8.8 Net profit
+97.7% +79.9%
12.0 6.7 6.1 PAT margin %
+462 bps +437 bps
11.4% 7.1% 6.8% EPS (₹)
+92.7% +75.2%
7.92 4.52 4.11
Quality of profit
Pre-tax profit ₹14.0 Cr: core business ₹13.0 Cr, other income ₹0.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: -4.6%
· reported profit +97.7%
Cash & debt
FY26 cash from operations ₹21.0 Cr:
67% of FY26 net profit of ₹31.5 Cr.
Borrowings ₹2.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹102 ₹105
+3.0% in line Net profit ₹4.2 ₹12.0
+188.7% above
Turnaround: profit against a loss a year ago
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
— —
1.0 0.0 0.0 Operating profit
from loss from loss 0.8 -0.2 -0.2 OPM %
— —
82.7% — — Other income
— —
0.0 0.0 0.0 Net profit
from loss from loss 0.5 -0.5 -0.4 PAT margin %
— —
51.0% — — EPS (₹)
from loss from loss 0.12 -0.11 -0.10
Quality of profit
Pre-tax profit ₹0.5 Cr: core business ₹0.5 Cr, other income ₹0.0 Cr.
Core profit YoY: from loss
Cash & debt
FY26 cash from operations ₹1.3 Cr.
Borrowings nil at Mar 2026.
M Cap ₹643 Cr
P/E 11.0
PEG 0.92
Operating margin contracted 310 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+16.9% +0.5%
207 206 177 Operating profit
-7.7% +2.8%
24.0 23.4 26.0 OPM %
-310 bps +26 bps
11.6% 11.3% 14.7% Other income
+33.3% +39.8%
4.0 2.9 3.0 Net profit?
-11.1% +14.8%
16.0 13.9 18.0 PAT margin %
-244 bps +96 bps
7.7% 6.8% 10.2% EPS (₹)
-13.0% +12.9%
2.62 2.32 3.01
Quality of profit
Pre-tax profit ₹20.0 Cr: core business ₹16.0 Cr, other income ₹4.0 Cr.
Core profit YoY: -20.0%
· reported profit -11.1%
Cash & debt
FY26 cash from operations ₹68.0 Cr:
117% of FY26 net profit of ₹58.2 Cr.
Borrowings ₹8.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹216 ₹207
-4.2% in line Net profit ₹17.5 ₹16.0
-8.8% in line
Profit +551% above its own trend All of pre-tax profit came from other income or one-off items Borrowings down 41% since Mar 2025
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
— —
0.0 0.0 0.0 Operating profit
loss narrowed loss widened -11.7 -10.1 -14.0 Other income
-8.4% +3.2%
25.6 24.9 28.0 Net profit?
+225.7% -41.0%
9.8 16.6 3.0 EPS (₹)
+207.5% -40.9%
1.63 2.76 0.53
Quality of profit
Pre-tax profit ₹13.4 Cr: core business −₹12.2 Cr, other income ₹25.6 Cr.
Core profit YoY: loss narrowed
· reported profit +225.7%
Cash & debt
Borrowings ₹1,177 Cr at Sep 2025, against ₹1,981 Cr at Mar 2025 (-41% ).
Against its own trend ?
Trend Actual Gap
Net profit ₹1.5 ₹9.8
+551.3% above
M Cap ₹642 Cr
P/E 119.1
PEG 2.02
Profit +203% above its own trend Operating margin expanded 124 bps YoY Core business grew faster than reported profit (core profit +105%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+71.6% +111.5%
60.0 28.4 35.0 Operating profit
+86.7% +216.4%
9.2 2.9 5.0 OPM %
+124 bps +511 bps
15.4% 10.3% 14.2% Other income
+76.5% +0.0%
0.3 0.3 0.2 Net profit
+80.2% +416.7%
4.7 0.9 2.6 PAT margin %
+37 bps +458 bps
7.7% 3.2% 7.4% EPS (₹)
+80.8% +422.2%
1.88 0.36 1.04
Quality of profit
Pre-tax profit ₹7.3 Cr: core business ₹7.0 Cr, other income ₹0.3 Cr.
Core profit YoY: +105.0%
· reported profit +80.2%
Cash & debt
FY26 cash from operations ₹10.0 Cr:
201% of FY26 net profit of ₹5.0 Cr.
Borrowings ₹59.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹36.7 ₹60.0
+63.7% above Net profit ₹1.5 ₹4.7
+203.5% above
M Cap ₹641 Cr
P/E 36.5
PEG —
Profit +546% above its own trend Operating margin expanded 231 bps YoY 35% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +246%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+11.2% +14.4%
166 145 149 Operating profit
+35.5% +67.0%
21.4 12.8 15.8 OPM %
+231 bps +406 bps
12.9% 8.8% 10.6% Other income
+130.5% +514.3%
2.9 0.5 1.3 Net profit?
+778.6% from loss 8.9 -2.6 1.0 PAT margin %
+468 bps +716 bps
5.4% -1.8% 0.7% EPS (₹)
+776.3% from loss 5.17 -1.52 0.59
Quality of profit
Pre-tax profit ₹10.2 Cr: core business ₹6.7 Cr, other income ₹2.9 Cr, exceptional & other items ₹0.7 Cr.
Core profit YoY: +245.8%
· reported profit +778.6%
Cash & debt
FY26 cash from operations ₹44.0 Cr:
290% of FY26 net profit of ₹15.2 Cr.
Borrowings ₹137 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹173 ₹166
-3.8% in line Net profit ₹1.4 ₹8.9
+545.9% above
M Cap ₹640 Cr
P/E 13.9
PEG 0.21
Turnaround: profit against a loss a year ago 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
+0.0% +0.0%
1.0 1.0 1.0 Operating profit
loss narrowed -100.0%
0.0 1.0 -21.0 OPM %
— -10000 bps
0.0% 100.0% — Other income
— +100.0%
30.0 15.0 0.0 Net profit?
from loss +100.0%
26.0 13.0 -18.0 EPS (₹)
from loss +97.5%
2.33 1.18 -1.66
Quality of profit
Pre-tax profit ₹30.0 Cr: core business ₹0.0 Cr, other income ₹30.0 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY26 cash from operations ₹0.0 Cr:
0% of FY26 net profit of ₹46.0 Cr.
Borrowings nil at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1.0 ₹1.0
+0.0% in line
M Cap ₹638 Cr
P/E 30.7
PEG —
Profit +92% above its own trend Operating margin contracted 1049 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+42.5% +108.7%
133 63.9 93.5 Operating profit
-25.6% +65.1%
15.3 9.3 20.5 OPM %
-1049 bps -303 bps
11.5% 14.5% 22.0% Other income
from loss +30.4%
0.3 0.2 -9.9 Net profit
+72.4% +103.7%
8.2 4.0 4.7 PAT margin %
+106 bps -15 bps
6.1% 6.3% 5.1% EPS (₹)
+72.5% +103.7%
7.78 3.82 4.51
Quality of profit
Pre-tax profit ₹11.1 Cr: core business ₹10.8 Cr, other income ₹0.3 Cr.
Core profit YoY: +77.9%
· reported profit +72.4%
Cash & debt
FY26 cash from operations ₹34.0 Cr:
169% of FY26 net profit of ₹20.2 Cr.
Borrowings ₹50.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹110 ₹133
+21.0% above Net profit ₹4.3 ₹8.2
+92.1% above
M Cap ₹635 Cr
P/E 27.1
PEG —
Operating margin contracted 668 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+28.4% +34.4%
68.0 50.6 53.0 Operating profit
-14.1% +123.7%
9.2 4.1 10.7 OPM %
-668 bps +538 bps
13.5% 8.1% 20.2% Other income
to loss to loss -4.6 4.6 4.3 Net profit?
-32.7% +41.5%
6.8 4.8 10.1 PAT margin %
-909 bps +51 bps
10.0% 9.5% 19.1% EPS (₹)
-32.8% —
2.13 — 3.17
Quality of profit
Pre-tax profit ₹2.2 Cr: core business ₹6.8 Cr, other income −₹4.6 Cr.
Core profit YoY: -26.6%
· reported profit -32.7%
M Cap ₹635 Cr
P/E 51.3
PEG 4.27
Profit +125% above its own trend Operating margin expanded 350 bps YoY Core business grew faster than reported profit (core profit +111%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+25.2% +16.4%
57.1 49.1 45.6 Operating profit
+92.3% +89.7%
5.7 3.0 3.0 OPM %
+350 bps +387 bps
10.0% 6.2% 6.5% Other income
-17.9% +128.6%
0.3 0.1 0.4 Net profit?
+84.4% +91.6%
3.4 1.8 1.9 PAT margin %
+193 bps +235 bps
6.0% 3.6% 4.1% EPS (₹)
+75.0% +75.0%
0.07 0.04 0.04
Quality of profit
Pre-tax profit ₹5.0 Cr: core business ₹4.7 Cr, other income ₹0.3 Cr.
Core profit YoY: +110.7%
· reported profit +84.4%
Cash & debt
FY26 cash from operations ₹7.0 Cr:
53% of FY26 net profit of ₹13.2 Cr.
Borrowings ₹6.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹47.5 ₹57.1
+20.2% above Net profit ₹1.5 ₹3.4
+125.4% above
M Cap ₹633 Cr
P/E 21.8
PEG 1.21
Profit -87% below its own trend Operating margin contracted 4648 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
+22.6% -6.6%
32.6 34.9 26.6 Operating profit
-78.8% -74.2%
3.2 12.2 14.9 OPM %
-4648 bps -2542 bps
9.7% 35.1% 56.2% Other income
+48.4% -26.1%
2.6 3.5 1.7 Net profit?
-84.2% -79.7%
1.8 9.0 11.5 PAT margin %
-3768 bps -2013 bps
5.6% 25.7% 43.3% EPS (₹)
-74.7% -69.3%
1.42 4.63 5.61
Quality of profit
Pre-tax profit ₹1.9 Cr: core business −₹0.6 Cr, other income ₹2.6 Cr.
Core profit YoY: to loss
· reported profit -84.2%
Cash & debt
FY26 cash from operations ₹27.0 Cr:
74% of FY26 net profit of ₹36.6 Cr.
Borrowings ₹58.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹33.2 ₹32.6
-1.9% in line Net profit ₹13.9 ₹1.8
-86.9% below
M Cap ₹632 Cr
P/E 39.6
PEG —
Turnaround: profit against a loss a year ago Operating margin contracted 230 bps YoY 72% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-6.8% +3.4%
145 140 155 Operating profit
-20.7% +40.1%
19.0 13.6 24.0 OPM %
-230 bps +344 bps
13.1% 9.7% 15.4% Other income
+28.3% +28.1%
5.7 4.4 4.4 Net profit?
from loss +475.5%
6.1 1.1 -0.4 PAT margin %
+445 bps +344 bps
4.2% 0.8% -0.3% EPS (₹)
from loss +525.0%
0.25 0.04 -0.02
Quality of profit
Pre-tax profit ₹7.8 Cr: core business ₹2.2 Cr, other income ₹5.7 Cr.
Core profit YoY: -62.0%
Against its own trend ?
Trend Actual Gap
Sales ₹168 ₹145
-14.0% below
M Cap ₹632 Cr
P/E 48.6
PEG —
Profit +379% above its own trend Operating margin expanded 1272 bps YoY
₹ Cr YoY vs prev. half
Mar 2026 Sep 2025 Mar 2025
Sales
+18.8% -1.7%
57.0 58.0 48.0 Operating profit
+200.0% +9.1%
12.0 11.0 4.0 OPM %
+1272 bps +209 bps
21.1% 19.0% 8.3% Other income
— —
0.0 0.0 0.0 Net profit
+500.0% -14.3%
6.0 7.0 1.0 PAT margin %
+844 bps -154 bps
10.5% 12.1% 2.1% EPS (₹)
+352.1% -14.6%
3.21 3.76 0.71
Quality of profit
Pre-tax profit ₹8.0 Cr: core business ₹8.0 Cr, other income ₹0.0 Cr.
Core profit YoY: +300.0%
· reported profit +500.0%
Cash & debt
FY26 cash from operations ₹18.0 Cr.
Borrowings ₹25.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹50.7 ₹57.0
+12.5% above Net profit ₹1.3 ₹6.0
+378.7% above
M Cap ₹631 Cr
P/E 15.9
PEG 0.23
₹ Cr YoY vs prev. half
Mar 2026 Sep 2025 Mar 2025
Sales
+8.3% +1.4%
650 641 600 Operating profit
+27.6% +8.8%
37.0 34.0 29.0 OPM %
+86 bps +39 bps
5.7% 5.3% 4.8% Other income
— —
0.0 0.0 0.0 Net profit?
+25.0% +0.0%
20.0 20.0 16.0 PAT margin %
+41 bps -4 bps
3.1% 3.1% 2.7% EPS (₹)
+21.3% +2.2%
0.91 0.89 0.75
Quality of profit
Pre-tax profit ₹27.0 Cr: core business ₹26.0 Cr, other income ₹0.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +23.8%
· reported profit +25.0%
Cash & debt
FY26 cash from operations ₹1.0 Cr.
Borrowings ₹142 Cr at Mar 2026.
M Cap ₹626 Cr
P/E 116.5
PEG 14.56
Profit -69% below its own trend Operating margin expanded 619 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-98.5% +43.4%
46.6 32.5 3,100 Operating profit
-97.9% -0.3%
10.0 10.0 472 OPM %
+619 bps -940 bps
21.4% 30.8% 15.2% Other income
-99.3% +13.8%
0.9 0.8 118 Net profit?
-57.0% +133.0%
2.7 1.2 6.3 PAT margin %
+563 bps +224 bps
5.8% 3.6% 0.2% EPS (₹)
— +70.6%
1.74 1.02 0.03
Quality of profit
Pre-tax profit ₹4.1 Cr: core business ₹3.2 Cr, other income ₹0.9 Cr.
Core profit YoY: from loss
· reported profit -57.0%
Cash & debt
FY26 cash from operations ₹31.0 Cr:
583% of FY26 net profit of ₹5.3 Cr.
Borrowings ₹39.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹3,931 ₹46.6
-98.8% below Net profit ₹8.8 ₹2.7
-69.2% below
M Cap ₹625 Cr
P/E 25.1
PEG 1.67
Profit -54% below its own trend Core business grew faster than reported profit (core profit +9%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+3.1% +26.6%
134 106 130 Operating profit
+1.0% +37.7%
18.6 13.5 18.4 OPM %
-28 bps +113 bps
13.9% 12.8% 14.2% Other income
-27.3% -33.5%
1.2 1.8 1.6 Net profit?
-35.5% +56.9%
8.7 5.6 13.5 PAT margin %
-389 bps +126 bps
6.5% 5.2% 10.4% EPS (₹)
-35.6% +56.0%
1.81 1.16 2.81
Quality of profit
Pre-tax profit ₹12.4 Cr: core business ₹11.2 Cr, other income ₹1.2 Cr.
Core profit YoY: +9.0%
· reported profit -35.5%
Cash & debt
FY26 cash from operations ₹30.0 Cr:
121% of FY26 net profit of ₹24.7 Cr.
Borrowings ₹150 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹157 ₹134
-14.6% below Net profit ₹18.9 ₹8.7
-53.7% below
M Cap ₹625 Cr
P/E 15.2
PEG 7.62
Profit -76% below its own trend Operating margin expanded 3915 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
+5.1% +2.5%
21.6 21.1 20.5 Operating profit
+220.7% +21.6%
12.6 10.3 3.9 OPM %
+3915 bps +915 bps
58.2% 49.1% 19.1% Other income
-51.9% -23.4%
3.7 4.8 7.6 Net profit?
-69.7% -9.2%
9.9 10.9 32.5 PAT margin %
— -588 bps
45.7% 51.6% — EPS (₹)
-69.7% -9.1%
0.40 0.44 1.32
Quality of profit
Pre-tax profit ₹11.5 Cr: core business ₹7.9 Cr, other income ₹3.7 Cr.
Core profit YoY: from loss
· reported profit -69.7%
Cash & debt
FY26 cash from operations ₹43.0 Cr:
116% of FY26 net profit of ₹37.0 Cr.
Borrowings nil at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹19.6 ₹21.6
+10.3% above Net profit ₹41.8 ₹9.9
-76.4% below
M Cap ₹623 Cr
P/E 20.8
PEG 20.80
Profit +12% above its own trend Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+19.9% +35.4%
64.2 47.4 53.5 Operating profit
+26.8% -7.2%
10.0 10.8 7.9 OPM %
+85 bps -717 bps
15.6% 22.8% 14.7% Other income
-86.9% -93.5%
0.1 1.8 0.9 Net profit
+13.2% -27.9%
6.3 8.7 5.6 PAT margin %
-58 bps -861 bps
9.8% 18.4% 10.4% EPS (₹)
+13.4% -28.0%
3.14 4.36 2.77
Quality of profit
Pre-tax profit ₹8.7 Cr: core business ₹8.6 Cr, other income ₹0.1 Cr.
Core profit YoY: +26.7%
· reported profit +13.2%
Cash & debt
FY26 cash from operations −₹19.0 Cr:
-69% of FY26 net profit of ₹27.5 Cr.
Borrowings nil at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹52.0 ₹64.2
+23.5% above Net profit ₹5.6 ₹6.3
+12.1% above
M Cap ₹618 Cr
P/E 13.1
PEG 0.36
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+45.5% -8.7%
185 202 127 Operating profit
+45.4% -98.9%
0.3 28.6 0.2 OPM %
-0 bps -1395 bps
0.2% 14.1% 0.2% Other income
-100.0% —
0.0 0.0 0.8 Net profit?
loss widened to loss -4.8 17.3 -3.9 PAT margin %
+49 bps -1114 bps
-2.6% 8.5% -3.1% EPS (₹)
loss widened to loss -3.40 13.26 -2.84
Quality of profit
Pre-tax profit −₹6.1 Cr: core business −₹6.1 Cr, other income ₹0.0 Cr.
Core profit YoY: loss widened
Cash & debt
FY26 cash from operations ₹86.0 Cr:
203% of FY26 net profit of ₹42.4 Cr.
Borrowings ₹56.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹150 ₹185
+22.9% above
M Cap ₹617 Cr
P/E 15.7
PEG 0.29
Profit -29% below its own trend Operating margin expanded 448 bps YoY FY26 operating cash flow was only 37% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+5.7% +23.8%
78.0 63.0 73.8 Operating profit
+28.0% +17.6%
20.0 17.0 15.6 OPM %
+448 bps -134 bps
25.6% 27.0% 21.2% Other income
+198.7% +100.0%
2.0 1.0 0.7 Net profit?
+42.6% +44.4%
13.0 9.0 9.1 PAT margin %
+431 bps +238 bps
16.7% 14.3% 12.4% EPS (₹)
+34.9% +41.4%
4.37 3.09 3.24
Quality of profit
Pre-tax profit ₹17.0 Cr: core business ₹15.0 Cr, other income ₹2.0 Cr.
Core profit YoY: +32.3%
· reported profit +42.6%
Cash & debt
FY26 cash from operations ₹12.0 Cr:
37% of FY26 net profit of ₹32.4 Cr.
Borrowings ₹80.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹111 ₹78.0
-29.7% below Net profit ₹18.2 ₹13.0
-28.7% below
M Cap ₹617 Cr
P/E 35.9
PEG —
Profit +193% above its own trend All of pre-tax profit came from other income or one-off items Exceptional items of ₹-2.7 Cr in the quarter
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-14.3% +0.5%
213 212 249 Operating profit
+7.0% -64.1%
4.6 12.7 4.3 OPM %
+43 bps -384 bps
2.1% 6.0% 1.7% Other income
+12.3% +89.4%
13.6 7.2 12.1 Net profit?
+46.7% from loss 9.0 -0.1 6.2 PAT margin %
+176 bps +429 bps
4.2% -0.1% 2.5% EPS (₹)
+46.6% from loss 1.51 -0.01 1.03
Quality of profit
Pre-tax profit ₹12.3 Cr: core business −₹4.0 Cr, other income ₹13.6 Cr, exceptional & other items ₹2.7 Cr.
Core profit YoY: loss narrowed
· reported profit +46.7%
Cash & debt
FY26 cash from operations ₹10.0 Cr:
70% of FY26 net profit of ₹14.2 Cr.
Borrowings ₹15.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹225 ₹213
-5.0% below Net profit ₹3.1 ₹9.0
+193.3% above
M Cap ₹611 Cr
P/E 15.9
PEG —
Into loss: a profit a year ago Profit -108% below its own trend Operating margin expanded 995 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+167.9% +8.2%
268 247 99.9 Operating profit
loss narrowed to loss -10.1 26.2 -13.7 OPM %
+995 bps -1435 bps
-3.8% 10.6% -13.7% Other income
-83.0% +79.9%
6.1 3.4 35.9 Net profit?
to loss to loss -3.4 13.9 31.8 PAT margin %
-3312 bps -689 bps
-1.3% 5.6% 31.8% EPS (₹)
to loss to loss -0.60 2.46 5.02
Quality of profit
Pre-tax profit −₹12.6 Cr: core business −₹18.6 Cr, other income ₹6.1 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY26 cash from operations ₹102 Cr:
253% of FY26 net profit of ₹40.4 Cr.
Borrowings ₹136 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹114 ₹268
+135.8% above Net profit ₹43.2 −₹3.4
-107.8% below
₹ Cr QoQ
Mar 2026 Dec 2025
Sales
+16.7%
21.9 18.8 EPS (₹)
+84.5%
1.55 0.84
M Cap ₹609 Cr
P/E 42.1
PEG —
33% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +20%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+17.5% +152.6%
159 62.8 135 Operating profit
+21.0% from loss 22.2 -11.6 18.4 OPM %
+40 bps +3249 bps
14.0% -18.5% 13.6% Other income
+199.4% +38.7%
9.8 7.1 3.3 Net profit?
+46.2% from loss 22.1 -5.7 15.1 PAT margin %
+273 bps +2297 bps
13.9% -9.1% 11.2% EPS (₹)
+6.4% from loss 4.96 -1.28 4.66
Quality of profit
Pre-tax profit ₹29.9 Cr: core business ₹20.0 Cr, other income ₹9.8 Cr.
Core profit YoY: +20.4%
· reported profit +46.2%
M Cap ₹606 Cr
P/E 20.4
PEG —
Operating margin contracted 1877 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-43.1% -23.2%
156 203 274 Operating profit
to loss to loss -27.0 4.0 4.0 OPM %
-1877 bps -1928 bps
-17.3% 2.0% 1.5% Other income
+0.0% +0.0%
1.0 1.0 1.0 Net profit?
loss widened loss widened -37.0 -13.0 -22.0 PAT margin %
-1569 bps -1731 bps
-23.7% -6.4% -8.0% EPS (₹)
loss widened loss widened -1.05 -0.36 -0.62
Quality of profit
Pre-tax profit −₹48.0 Cr: core business −₹49.0 Cr, other income ₹1.0 Cr.
Core profit YoY: loss widened
Cash & debt
FY26 cash from operations ₹97.0 Cr:
1078% of FY26 net profit of ₹9.0 Cr.
Borrowings ₹442 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹202 ₹156
-22.8% below
M Cap ₹604 Cr
P/E 28.6
PEG —
Profit +13% above its own trend Operating margin expanded 262 bps YoY Core business grew faster than reported profit (core profit +287%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+8.3% +27.1%
215 169 198 Operating profit
+72.9% +46.4%
15.0 10.3 8.7 OPM %
+262 bps +92 bps
7.0% 6.1% 4.4% Other income
-86.3% -79.1%
0.2 0.8 1.2 Net profit?
+126.5% +83.3%
6.2 3.4 2.7 PAT margin %
+151 bps +89 bps
2.9% 2.0% 1.4% EPS (₹)
+125.0% +83.1%
4.23 2.31 1.88
Quality of profit
Pre-tax profit ₹8.4 Cr: core business ₹8.2 Cr, other income ₹0.2 Cr.
Core profit YoY: +286.9%
· reported profit +126.5%
Cash & debt
FY26 cash from operations ₹48.0 Cr:
386% of FY26 net profit of ₹12.4 Cr.
Borrowings ₹31.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹198 ₹215
+8.6% above Net profit ₹5.5 ₹6.2
+13.3% above
M Cap ₹602 Cr
P/E 21.8
PEG —
Profit -69% below its own trend Operating margin expanded 252 bps YoY 43% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+9.3% -0.5%
266 267 243 Operating profit
+118.6% -15.3%
13.4 15.8 6.1 OPM %
+252 bps -89 bps
5.1% 5.9% 2.5% Other income
+413.9% +362.2%
3.8 0.8 0.7 Net profit
-84.5% -17.0%
7.5 9.0 48.4 PAT margin %
-1710 bps -56 bps
2.8% 3.4% 19.9% EPS (₹)
— -38.9%
0.11 0.18 —
Quality of profit
Pre-tax profit ₹8.8 Cr: core business ₹5.1 Cr, other income ₹3.8 Cr.
Core profit YoY: from loss
· reported profit -84.5%
Against its own trend ?
Trend Actual Gap
Sales ₹242 ₹266
+9.8% above Net profit ₹24.2 ₹7.5
-69.0% below
How to read this page
The numbers. Each card is one company's Q4 FY26 results as filed with NSE or BSE, read from the
filing within hours of its release, in ₹ crore. We show the consolidated statement, or the standalone one when
the consolidated figures are a copy of it or have no year-ago quarter to compare with. YoY compares with the same
quarter a year earlier and QoQ with the quarter before (the previous half-year for companies that report every six months).
A swing between profit and loss is described in words: a percentage across it would mislead.
Net profit. On a consolidated statement, net profit is the profit of the whole group for the quarter,
before minority interest. A company's own headline, and the AI read of its filing, often quote the profit
attributable to its shareholders instead, which is lower when subsidiaries are partly owned: Larsen & Toubro's
Q1 FY27 group profit was ₹4,988 Cr, of which ₹4,123 Cr belonged to its shareholders. EPS is worked out on that
attributable profit, so EPS and net profit need not grow at the same rate. On a standalone statement the two
are the same.
Margins. Operating margin (OPM) is operating profit, before depreciation, interest and other income,
as a share of sales; PAT margin is net profit as a share of sales. Their changes are in basis points
(100 bps = 1 percentage point).
Quality of profit. Core profit is operating profit minus interest and depreciation: what the business
itself earned before tax. The rest of pre-tax profit is other income (interest on cash, dividends, gains on
investments) and exceptional or one-off items. We flag a quarter when that share is 25% or more,
and when reported profit grew much faster than core profit. For banks we compare pre-provision profit with net
profit, since a fall in provisions can lift profit without the business growing.
Against its own trend. We do not have analyst consensus estimates, and we do not make them up. Instead
each company is measured against the path it was on: the same quarter last year, grown at the median of its
last four year-on-year growth rates (held between −50% and +100%; at least two growth rates needed). Sales
5% or more above that, or net profit 10% or more above, is "above trend";
as far below is "below trend". It answers "was this quarter better or worse than the company's own recent
run?", which consensus does not.
Cash and debt. Profit is an accounting figure; cash is harder to dress up. For each company we show
its operating cash flow for the last financial year as a share of that year's net profit (flagged under
50%, or when it is negative despite a profit), and its borrowings at the latest balance sheet
against the one six months earlier (flagged at a 25% move). Balance sheets come with the
September and March results, cash-flow statements with the March results.
Price since results. The latest close against the last close before the filing (a filing after 3:30 pm
counts from the next session). It is a fact about the market's reaction, not advice.
Market cap groups. Large cap is the 100 largest companies by market value and mid cap the next 150
(SEBI's ranking); below that, small cap is ₹5,000 Cr or more, micro cap ₹500 Cr or more, nano cap below.
Data source Quarterly results filed by listed companies with NSE and BSE (Regulation 33 of SEBI LODR), read from each filing; share prices from the exchanges; market cap and P/E from our daily fundamentals snapshot.
Last updated 14 Oct 2026, 08:39 IST
