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.
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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Operating margin contracted 160 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+34.6% +19.4%
86.9 72.8 64.6 Operating profit
+10.5% -21.2%
6.3 8.1 5.7 OPM %
-160 bps -376 bps
7.3% 11.1% 8.9% Other income
-54.5% -43.8%
0.7 1.3 1.6 Net profit?
loss widened to loss -0.8 0.4 -0.3 PAT margin %
-48 bps -157 bps
-1.0% 0.6% -0.5% EPS (₹)
-14.3% -53.8%
0.06 0.13 0.07
Quality of profit
Pre-tax profit −₹0.3 Cr: core business −₹1.0 Cr, other income ₹0.7 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY26 cash from operations ₹19.0 Cr.
Borrowings ₹202 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹76.7 ₹86.9
+13.4% above
Operating margin contracted 1308 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-35.0% +50.2%
41.0 27.3 63.1 Operating profit
loss widened loss widened -6.0 -3.0 -1.0 OPM %
-1308 bps -360 bps
-14.6% -11.0% -1.6% Other income
to loss to loss -102 3.8 7.9 Net profit?
loss widened loss widened -118 -12.0 -28.5 EPS (₹)
loss widened loss widened -3.56 -0.36 -0.85
Quality of profit
Pre-tax profit −₹116 Cr: core business −₹14.0 Cr, other income −₹102 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY26 cash from operations ₹57.0 Cr.
Borrowings ₹302 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹37.3 ₹41.0
+9.8% above
M Cap ₹477 Cr
P/E 12.9
PEG 0.23
Operating margin expanded 115 bps YoY
₹ Cr YoY vs prev. half
Mar 2026 Sep 2025 Mar 2025
Sales
+27.1% +10.0%
859 781 676 Operating profit
+60.0% +23.1%
48.0 39.0 30.0 OPM %
+115 bps +59 bps
5.6% 5.0% 4.4% Other income
+400.0% +150.0%
5.0 2.0 1.0 Net profit?
+69.2% +46.7%
22.0 15.0 13.0 PAT margin %
+64 bps +64 bps
2.6% 1.9% 1.9% EPS (₹)
+69.7% +44.5%
7.11 4.92 4.19
Quality of profit
Pre-tax profit ₹30.0 Cr: core business ₹25.0 Cr, other income ₹5.0 Cr.
Core profit YoY: +56.2%
· reported profit +69.2%
Cash & debt
FY26 cash from operations ₹8.0 Cr.
Borrowings ₹262 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹904 ₹859
-5.0% below Net profit ₹20.6 ₹22.0
+6.5% in line
M Cap ₹474 Cr
P/E 24.0
PEG 0.20
Profit -23% below its own trend Operating margin contracted 3856 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
-27.3% -63.5%
13.6 37.2 18.7 Operating profit
to loss to loss -0.3 5.5 6.8 OPM %
-3856 bps -1710 bps
-2.4% 14.7% 36.1% Other income
+485.6% +788.1%
13.4 1.5 2.3 Net profit?
+53.1% +94.6%
8.2 4.2 5.4 PAT margin %
+3190 bps +4936 bps
60.8% 11.4% 28.9% EPS (₹)
+53.1% +94.7%
4.73 2.43 3.09
Quality of profit
Pre-tax profit ₹10.1 Cr: core business −₹3.3 Cr, other income ₹13.4 Cr.
Core profit YoY: to loss
· reported profit +53.1%
Cash & debt
FY26 cash from operations −₹9.0 Cr:
-45% of FY26 net profit of ₹19.9 Cr.
Borrowings ₹100 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹32.6 ₹13.6
-58.4% below Net profit ₹10.8 ₹8.2
-23.5% below
Operating margin contracted 2584 bps YoY Exceptional items of ₹-3.7 Cr in the quarter
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+2.0% -7.0%
55.8 60.0 54.7 Operating profit
to loss loss widened -12.7 -11.0 1.7 OPM %
-2584 bps -439 bps
-22.7% -18.3% 3.1% Other income
-55.1% from loss 2.0 -4.0 4.4 Net profit?
loss widened loss narrowed -27.8 -36.0 -7.0 PAT margin %
-3692 bps +1023 bps
-49.8% -60.0% -12.8% EPS (₹)
loss widened loss narrowed -18.28 -23.41 -5.36
Quality of profit
Pre-tax profit −₹27.8 Cr: core business −₹33.5 Cr, other income ₹2.0 Cr, exceptional & other items ₹3.7 Cr.
Core profit YoY: loss widened
Cash & debt
FY26 cash from operations ₹21.0 Cr.
Borrowings ₹296 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹51.7 ₹55.8
+8.0% above
M Cap ₹473 Cr
P/E 30.9
PEG 1.24
Profit +116% above its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Total income
+63.4% +16.2%
21.3 18.3 13.0 Net interest income
— +21.5%
11.9 9.8 — Other income
— -66.7%
0.0 0.0 — Net profit
+109.2% +43.1%
5.5 3.8 2.6 EPS (₹)
+94.0% +43.6%
2.60 1.81 1.34
Against its own trend ?
Trend Actual Gap
Net profit ₹2.5 ₹5.5
+116.0% above
Profit -26% below its own trend Operating margin expanded 277 bps YoY
₹ Cr YoY
Mar 2026 Mar 2025
Sales
+33.5%
371 278 Operating profit
+56.8%
69.0 44.0 OPM %
+277 bps
18.6% 15.8% Other income
—
0.0 0.0 Net profit?
+48.3%
43.0 29.0 PAT margin %
+116 bps
11.6% 10.4% EPS (₹)
+49.4%
28.40 19.01
Quality of profit
Pre-tax profit ₹56.0 Cr: core business ₹55.0 Cr, other income ₹0.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +44.7%
· reported profit +48.3%
Cash & debt
FY26 cash from operations ₹21.0 Cr.
Borrowings ₹117 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹556 ₹371
-33.3% below Net profit ₹58.0 ₹43.0
-25.9% below
M Cap ₹472 Cr
P/E 26.1
PEG —
30% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+36.7% +3.3%
166 161 122 Operating profit
+67.1% -10.8%
6.9 7.8 4.1 OPM %
+76 bps -66 bps
4.2% 4.8% 3.4% Other income
+13.1% +164.8%
2.4 0.9 2.1 Net profit
+45.7% +9.5%
5.9 5.4 4.0 PAT margin %
+22 bps +20 bps
3.5% 3.3% 3.3% EPS (₹)
+43.9% +9.2%
0.95 0.87 0.66
Quality of profit
Pre-tax profit ₹8.0 Cr: core business ₹5.6 Cr, other income ₹2.4 Cr.
Core profit YoY: +60.9%
· reported profit +45.7%
M Cap ₹471 Cr
P/E 329.5
PEG 11.36
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+1.4% -34.3%
158 240 156 Operating profit
loss widened to loss -9.0 78.2 -8.3 OPM %
-36 bps -3823 bps
-5.7% 32.5% -5.3% Other income
+52.0% +818.4%
9.0 1.0 5.9 Net profit?
loss narrowed to loss -27.0 52.8 -36.8 PAT margin %
+651 bps -3905 bps
-17.1% 22.0% -23.6% EPS (₹)
loss narrowed to loss -0.42 0.84 -0.59
Quality of profit
Pre-tax profit −₹30.0 Cr: core business −₹39.0 Cr, other income ₹9.0 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY26 cash from operations ₹98.0 Cr:
6853% of FY26 net profit of ₹1.4 Cr.
Borrowings ₹83.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹187 ₹158
-15.6% below
M Cap ₹470 Cr
P/E 5.5
PEG 0.23
Profit -17% below its own trend Gross NPA up 64 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Total income
+21.1% +7.8%
69.0 64.0 57.0 Net interest income
+17.9% +9.5%
46.0 42.0 39.0 Other income
— —
0.0 0.0 0.0 Net profit
+0.0% -9.5%
19.0 21.0 19.0 EPS (₹)
+2.3% -7.2%
8.52 9.18 8.33 Gross NPA %
+64 bps +10 bps
1.1% 1.0% 0.5% Net NPA %
+47 bps +6 bps
0.8% 0.8% 0.3%
Against its own trend ?
Trend Actual Gap
NII ₹44.4 ₹46.0
+3.5% in line Net profit ₹22.8 ₹19.0
-16.7% below
M Cap ₹469 Cr
P/E 27.4
PEG 1.01
Profit -81% below its own trend Operating margin contracted 1974 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-61.7% -63.6%
9.0 24.7 23.5 Operating profit
-80.0% -75.2%
1.9 7.8 9.7 OPM %
-1974 bps -1011 bps
21.6% 31.7% 41.3% Other income
from loss -71.8%
0.5 1.7 -0.1 Net profit?
-72.6% -72.2%
1.9 6.7 6.8 PAT margin %
-824 bps -640 bps
20.7% 27.1% 29.0% EPS (₹)
-72.7% -72.3%
0.18 0.65 0.66
Quality of profit
Pre-tax profit ₹2.2 Cr: core business ₹1.7 Cr, other income ₹0.5 Cr.
Core profit YoY: -81.9%
· reported profit -72.6%
Cash & debt
FY26 cash from operations ₹30.0 Cr:
147% of FY26 net profit of ₹20.4 Cr.
Borrowings ₹2.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹32.3 ₹9.0
-72.1% below Net profit ₹9.9 ₹1.9
-81.2% below
M Cap ₹468 Cr
P/E 8.7
PEG 0.38
Operating margin expanded 256 bps YoY Core business grew faster than reported profit (core profit +920%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+20.1% -27.4%
193 266 161 Operating profit
+66.9% -45.8%
17.6 32.5 10.6 OPM %
+256 bps -310 bps
9.1% 12.2% 6.6% Other income
to loss to loss -3.6 0.4 0.3 Net profit
-85.4% -93.8%
1.3 20.4 8.6 PAT margin %
-472 bps -704 bps
0.7% 7.7% 5.4% EPS (₹)
-85.4% -93.8%
0.13 2.11 0.89
Quality of profit
Pre-tax profit ₹4.1 Cr: core business ₹7.8 Cr, other income −₹3.6 Cr.
Core profit YoY: +919.7%
· reported profit -85.4%
Cash & debt
FY26 cash from operations ₹44.0 Cr:
68% of FY26 net profit of ₹64.6 Cr.
Borrowings ₹306 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹252 ₹193
-23.5% below
M Cap ₹467 Cr
P/E 320.9
PEG —
Profit -87% below its own trend Operating margin contracted 152 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
+2.3% +20.3%
17.6 14.6 17.2 Operating profit
-34.7% +27.0%
0.5 0.4 0.7 OPM %
-152 bps +14 bps
2.7% 2.5% 4.2% Other income
-63.6% -14.3%
0.1 0.1 0.3 Net profit?
-73.9% +44.0%
0.4 0.2 1.4 PAT margin %
-600 bps +34 bps
2.0% 1.7% 8.0% EPS (₹)
-100.0% -100.0%
0.00 0.01 0.02
Quality of profit
Pre-tax profit ₹0.4 Cr: core business ₹0.2 Cr, other income ₹0.1 Cr.
Core profit YoY: -50.0%
· reported profit -73.9%
Cash & debt
FY26 cash from operations −₹26.1 Cr:
-1310% of FY26 net profit of ₹2.0 Cr.
Borrowings ₹9.4 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹18.1 ₹17.6
-2.7% in line Net profit ₹2.8 ₹0.4
-87.0% below
M Cap ₹467 Cr
P/E 30.6
PEG —
Profit -90% below its own trend Operating margin contracted 279 bps YoY All of pre-tax profit came from other income or one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-15.7% -20.7%
75.1 94.8 89.1 Operating profit
-43.9% -70.4%
4.2 14.0 7.4 OPM %
-279 bps -929 bps
5.5% 14.8% 8.3% Other income
-14.1% +996.0%
2.0 0.2 2.3 Net profit?
-90.0% -94.7%
0.3 6.6 3.5 PAT margin %
-344 bps -655 bps
0.5% 7.0% 3.9% EPS (₹)
-85.1% -93.3%
1.46 21.89 9.83
Quality of profit
Pre-tax profit ₹0.9 Cr: core business −₹1.1 Cr, other income ₹2.0 Cr.
Core profit YoY: to loss
· reported profit -90.0%
Against its own trend ?
Trend Actual Gap
Sales ₹90.3 ₹75.1
-16.8% below Net profit ₹3.5 ₹0.3
-89.9% below
M Cap ₹467 Cr
P/E 12.7
PEG 0.34
Profit -22% below its own trend Operating margin contracted 1597 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
-43.5% -35.4%
53.1 82.3 94.0 Operating profit
-81.3% -78.1%
4.2 19.1 22.4 OPM %
-1597 bps -1537 bps
7.9% 23.2% 23.8% Other income
+547.5% -6.3%
10.2 10.9 1.6 Net profit?
-11.0% -52.4%
6.1 12.8 6.8 PAT margin %
+419 bps -410 bps
11.5% 15.6% 7.3% EPS (₹)
+7.3% -48.0%
1.18 2.27 1.10
Quality of profit
Pre-tax profit ₹8.1 Cr: core business −₹2.2 Cr, other income ₹10.2 Cr.
Core profit YoY: to loss
· reported profit -11.0%
Cash & debt
FY26 cash from operations −₹183 Cr:
-527% of FY26 net profit of ₹34.7 Cr.
Borrowings ₹56.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹96.7 ₹53.1
-45.1% below Net profit ₹7.8 ₹6.1
-22.0% below
M Cap ₹467 Cr
P/E 13.3
PEG 0.10
Operating margin contracted 994 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
-6.0% +2.1%
176 172 187 Operating profit
to loss to loss -9.6 0.4 8.3 OPM %
-994 bps -570 bps
-5.5% 0.2% 4.5% Other income
+276.8% +189.5%
22.0 7.6 5.8 Net profit?
-73.0% +247.8%
7.3 2.1 26.9 PAT margin %
-1025 bps +292 bps
4.1% 1.2% 14.4% EPS (₹)
-73.1% +250.0%
0.35 0.10 1.30
Quality of profit
Pre-tax profit ₹6.2 Cr: core business −₹15.8 Cr, other income ₹22.0 Cr.
Core profit YoY: to loss
· reported profit -73.0%
Cash & debt
FY26 cash from operations −₹44.0 Cr:
-125% of FY26 net profit of ₹35.1 Cr.
Borrowings ₹62.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹177 ₹176
-0.9% in line
Operating margin contracted 2863 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-11.8% +400.0%
30.0 6.0 34.0 Operating profit
-83.3% from loss 2.0 -4.0 12.0 OPM %
-2863 bps +7333 bps
6.7% -66.7% 35.3% Other income
+0.0% —
1.0 0.0 1.0 Net profit
loss widened loss narrowed -14.0 -17.0 -11.0 PAT margin %
-1431 bps —
-46.7% — -32.4% EPS (₹)
loss widened loss narrowed -2.62 -3.36 -2.20
Quality of profit
Pre-tax profit −₹15.0 Cr: core business −₹16.0 Cr, other income ₹1.0 Cr.
Core profit YoY: loss widened
Cash & debt
FY26 cash from operations −₹4.0 Cr.
Borrowings ₹25.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹24.6 ₹30.0
+21.9% above
M Cap ₹463 Cr
P/E 19.9
PEG —
Operating margin expanded 1016 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+14.7% -4.4%
86.0 89.9 75.0 Operating profit
from loss -72.3%
3.0 10.8 -5.0 OPM %
+1016 bps -855 bps
3.5% 12.0% -6.7% Other income
loss widened to loss -25.0 12.4 -5.0 Net profit
loss widened to loss -21.0 15.3 -10.0 PAT margin %
-1109 bps -4144 bps
-24.4% 17.0% -13.3% EPS (₹)
loss widened to loss -37.55 26.81 -18.10
Quality of profit
Pre-tax profit −₹25.0 Cr: core business ₹0.0 Cr, other income −₹25.0 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY26 cash from operations −₹8.0 Cr.
Borrowings ₹30.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹64.7 ₹86.0
+32.8% above
M Cap ₹462 Cr
P/E 15.0
PEG 0.83
Profit +32% above its own trend Operating margin expanded 192 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+0.0% +4.0%
104 100 104 Operating profit
+22.2% +10.0%
11.0 10.0 9.0 OPM %
+192 bps +58 bps
10.6% 10.0% 8.7% Other income
+50.0% from loss 3.0 -3.0 2.0 Net profit?
+42.9% +100.0%
10.0 5.0 7.0 PAT margin %
+288 bps +462 bps
9.6% 5.0% 6.7% EPS (₹)
+49.3% +101.3%
3.18 1.58 2.13
Quality of profit
Pre-tax profit ₹12.0 Cr: core business ₹10.0 Cr, other income ₹3.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +25.0%
· reported profit +42.9%
Cash & debt
FY26 cash from operations ₹26.0 Cr:
82% of FY26 net profit of ₹31.6 Cr.
Borrowings ₹4.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹98.8 ₹104
+5.2% above Net profit ₹7.6 ₹10.0
+31.9% above
M Cap ₹459 Cr
P/E 13.1
PEG —
Profit +971% above its own trend Operating margin expanded 525 bps YoY 40% of pre-tax profit came from other income and one-off items FY26 operating cash flow was only 15% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+10.8% +15.3%
402 349 363 Operating profit
+490.9% +30.0%
26.0 20.0 4.4 OPM %
+525 bps +73 bps
6.5% 5.7% 1.2% Other income
+200.0% +350.0%
9.0 2.0 3.0 Net profit?
+435.7% +379.2%
15.0 3.1 2.8 PAT margin %
+296 bps +283 bps
3.7% 0.9% 0.8% EPS (₹)
+418.9% +367.0%
4.67 1.00 0.90
Quality of profit
Pre-tax profit ₹20.0 Cr: core business ₹12.0 Cr, other income ₹9.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: from loss
· reported profit +435.7%
Cash & debt
FY26 cash from operations ₹4.0 Cr:
15% of FY26 net profit of ₹27.2 Cr.
Borrowings ₹345 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹336 ₹402
+19.5% above Net profit ₹1.4 ₹15.0
+971.4% above
M Cap ₹456 Cr
P/E 11.5
PEG 0.21
Operating margin expanded 299 bps YoY 33% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+52.6% +42.6%
174 122 114 Operating profit
+100.0% +57.1%
22.0 14.0 11.0 OPM %
+299 bps +117 bps
12.6% 11.5% 9.6% Other income
+60.0% -20.0%
8.0 10.0 5.0 Net profit
— +41.7%
17.0 12.0 0.0 PAT margin %
+977 bps -7 bps
9.8% 9.8% 0.0% EPS (₹)
— +42.0%
8.11 5.71 0.23
Quality of profit
Pre-tax profit ₹21.0 Cr: core business ₹14.0 Cr, other income ₹8.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +600.0%
Cash & debt
FY26 cash from operations ₹67.0 Cr:
186% of FY26 net profit of ₹36.0 Cr.
Borrowings ₹53.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹131 ₹174
+32.5% above
M Cap ₹456 Cr
P/E 13.3
PEG 0.25
Profit +75% above its own trend Operating margin expanded 278 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-5.9% +19.4%
144 121 153 Operating profit
+17.6% +94.9%
20.0 10.3 17.0 OPM %
+278 bps +538 bps
13.9% 8.5% 11.1% Other income
+200.0% —
3.0 0.1 1.0 Net profit?
+57.1% +385.9%
11.0 2.3 7.0 PAT margin %
+306 bps +576 bps
7.6% 1.9% 4.6% EPS (₹)
+42.3% +337.0%
9.22 2.11 6.48
Quality of profit
Pre-tax profit ₹15.0 Cr: core business ₹12.0 Cr, other income ₹3.0 Cr.
Core profit YoY: +50.0%
· reported profit +57.1%
Cash & debt
FY26 cash from operations ₹43.0 Cr:
241% of FY26 net profit of ₹17.9 Cr.
Borrowings ₹143 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹154 ₹144
-6.7% below Net profit ₹6.3 ₹11.0
+74.7% above
M Cap ₹456 Cr
P/E 19.0
PEG 0.95
Profit -11% below its own trend Operating margin contracted 251 bps YoY
₹ Cr YoY vs prev. half
Mar 2026 Sep 2025 Mar 2025
Sales
+8.1% +17.6%
187 159 173 Operating profit
-14.3% +12.5%
18.0 16.0 21.0 OPM %
-251 bps -44 bps
9.6% 10.1% 12.1% Other income
+0.0% -80.0%
1.0 5.0 1.0 Net profit
+0.0% +0.0%
12.0 12.0 12.0 PAT margin %
-52 bps -113 bps
6.4% 7.5% 6.9% EPS (₹)
-3.0% -3.3%
6.18 6.39 6.37
Quality of profit
Pre-tax profit ₹14.0 Cr: core business ₹14.0 Cr, other income ₹1.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: -6.7%
· reported profit +0.0%
Cash & debt
FY26 cash from operations ₹5.0 Cr.
Borrowings ₹49.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹187 ₹187
-0.0% in line Net profit ₹13.5 ₹12.0
-11.4% below
M Cap ₹453 Cr
P/E 10.5
PEG —
Profit +63% above its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+5.7% +11.0%
162 146 153 Operating profit
+2.2% +23.5%
42.0 34.0 41.1 OPM %
-91 bps +264 bps
25.9% 23.3% 26.8% Other income
+39.2% +100.0%
4.0 2.0 2.9 Net profit
+8.5% +114.3%
15.0 7.0 13.8 PAT margin %
+23 bps +446 bps
9.3% 4.8% 9.0% EPS (₹)
+9.4% +117.8%
2.33 1.07 2.13
Quality of profit
Pre-tax profit ₹21.0 Cr: core business ₹17.0 Cr, other income ₹4.0 Cr.
Core profit YoY: +5.9%
· reported profit +8.5%
Cash & debt
FY26 cash from operations ₹132 Cr:
281% of FY26 net profit of ₹47.0 Cr.
Borrowings ₹228 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹146 ₹162
+10.9% above Net profit ₹9.2 ₹15.0
+62.9% above
Operating margin contracted 4318 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-27.3% -11.1%
8.0 9.0 11.0 Operating profit
to loss to loss -2.0 1.0 2.0 OPM %
-4318 bps -3611 bps
-25.0% 11.1% 18.2% Other income
to loss loss widened -26.0 -1.0 3.0 Net profit
loss widened loss widened -38.0 -10.0 -5.0 EPS (₹)
loss widened loss widened -2.57 -0.69 -0.36
Quality of profit
Pre-tax profit −₹38.0 Cr: core business −₹12.0 Cr, other income −₹26.0 Cr.
Core profit YoY: loss widened
Cash & debt
FY26 cash from operations −₹1.0 Cr.
Borrowings ₹376 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹8.8 ₹8.0
-8.9% below
Profit -46% below its own trend
₹ Cr YoY vs prev. half
Mar 2026 Sep 2025 Mar 2025
Sales
+47.3% +34.1%
405 302 275 Operating profit
+36.8% +20.9%
52.0 43.0 38.0 OPM %
-98 bps -140 bps
12.8% 14.2% 13.8% Other income
-100.0% —
0.0 0.0 2.0 Net profit?
+7.4% +0.0%
29.0 29.0 27.0 PAT margin %
-266 bps -244 bps
7.2% 9.6% 9.8% EPS (₹)
+6.1% +2.3%
14.51 14.19 13.68
Quality of profit
Pre-tax profit ₹43.0 Cr: core business ₹43.0 Cr, other income ₹0.0 Cr.
Core profit YoY: +22.9%
· reported profit +7.4%
Cash & debt
FY26 cash from operations −₹5.0 Cr.
Borrowings ₹45.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹550 ₹405
-26.4% below Net profit ₹54.0 ₹29.0
-46.3% below
Into loss: a profit a year ago Profit -999% below its own trend Operating margin expanded 108 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
+13.0% +6.7%
139 130 123 Operating profit
+30.8% +5.4%
11.0 10.4 8.4 OPM %
+108 bps -10 bps
7.9% 8.0% 6.8% Other income
-74.6% -13.0%
1.0 1.1 3.9 Net profit?
to loss to loss -11.0 0.8 1.1 PAT margin %
-883 bps -849 bps
-7.9% 0.6% 0.9% EPS (₹)
to loss to loss -7.85 0.53 0.79
Quality of profit
Pre-tax profit ₹1.0 Cr: core business −₹1.0 Cr, other income ₹1.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY26 cash from operations ₹3.0 Cr.
Borrowings ₹186 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹127 ₹139
+9.1% above Net profit ₹0.6 −₹11.0
-999.0% below
M Cap ₹446 Cr
P/E 6.6
PEG 0.05
Turnaround: profit against a loss a year ago Operating margin expanded 12018 bps YoY Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+533.3% +35.7%
38.0 28.0 6.0 Operating profit
from loss +43.5%
33.0 23.0 -2.0 OPM %
+12018 bps +470 bps
86.8% 82.1% -33.3% Other income
— —
0.0 0.0 0.0 Net profit?
from loss +52.9%
26.0 17.0 -3.0 PAT margin %
+11842 bps +771 bps
68.4% 60.7% -50.0% EPS (₹)
from loss +259.4%
4.78 1.33 -0.22
Quality of profit
Pre-tax profit ₹31.0 Cr: core business ₹32.0 Cr, other income ₹0.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: from loss
Cash & debt
FY26 cash from operations −₹34.0 Cr:
-52% of FY26 net profit of ₹66.0 Cr.
Borrowings ₹25.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹12.0 ₹38.0
+216.7% above
M Cap ₹445 Cr
P/E 20.2
PEG —
Profit +54% above its own trend Operating margin expanded 130 bps YoY 36% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +12%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+0.0% +6.5%
231 217 231 Operating profit
+13.0% +13.0%
26.0 23.0 23.0 OPM %
+130 bps +66 bps
11.3% 10.6% 10.0% Other income
-42.9% +300.0%
4.0 1.0 7.0 Net profit?
-23.1% +100.0%
10.0 5.0 13.0 PAT margin %
-130 bps +202 bps
4.3% 2.3% 5.6% EPS (₹)
-22.7% +88.9%
0.34 0.18 0.44
Quality of profit
Pre-tax profit ₹14.0 Cr: core business ₹9.0 Cr, other income ₹4.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +12.5%
· reported profit -23.1%
Cash & debt
FY26 cash from operations ₹89.0 Cr:
1483% of FY26 net profit of ₹6.0 Cr.
Borrowings ₹260 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹236 ₹231
-2.3% in line Net profit ₹6.5 ₹10.0
+53.8% above
M Cap ₹444 Cr
P/E 3.5
PEG 0.07
Profit +38% above its own trend 34% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +14%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+13.0% +10.0%
39.2 35.6 34.6 Operating profit
+6.7% +5.6%
5.4 5.1 5.0 OPM %
-81 bps -57 bps
13.7% 14.3% 14.5% Other income
+194.2% -12.9%
2.4 2.8 0.8 Net profit?
+44.0% -21.9%
4.1 5.3 2.9 PAT margin %
+228 bps -433 bps
10.6% 14.9% 8.3% EPS (₹)
+45.3% -21.7%
2.02 2.58 1.39
Quality of profit
Pre-tax profit ₹7.2 Cr: core business ₹4.7 Cr, other income ₹2.4 Cr.
Core profit YoY: +13.8%
· reported profit +44.0%
Cash & debt
FY26 cash from operations ₹105 Cr:
83% of FY26 net profit of ₹127 Cr.
Borrowings ₹2.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹37.5 ₹39.2
+4.5% in line Net profit ₹3.0 ₹4.1
+37.9% 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, 09:22 IST
