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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Q2 FY27 Q1 FY27 Q4 FY26 Q3 FY26 Q2 FY26
The next results season has started: 36 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
-4.8%
median; 37% 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 6 of 171
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M Cap ₹1,08,351 Cr
P/E —
PEG —
Turnaround: profit against a loss a year ago Operating margin expanded 1049 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
+18.4% +3.2%
2,264 2,194 1,912 Operating profit
from loss -15.4%
132 156 -89.0 OPM %
+1049 bps -128 bps
5.8% 7.1% -4.7% Other income
from loss -6.1%
199 212 -298 Net profit?
from loss -18.7%
183 225 -545 PAT margin %
+3659 bps -217 bps
8.1% 10.3% -28.5% EPS (₹)
from loss -18.5%
2.87 3.52 -8.46
Quality of profit
Pre-tax profit ₹194 Cr: core business −₹5.0 Cr, other income ₹199 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY26 cash from operations −₹743 Cr:
-135% of FY26 net profit of ₹552 Cr.
Borrowings ₹194 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹2,335 ₹2,264
-3.0% in line
M Cap ₹1,07,378 Cr
P/E 5.4
PEG 0.30
Profit -26% below its own trend Gross NPA down 110 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Total income
-9.2% +10.4%
36,539 33,089 40,256 Net interest income
-1.3% +19.3%
9,815 8,229 9,940 Other income
-46.4% +118.4%
4,700 2,152 8,761 Net profit?
-9.8% -12.9%
4,575 5,254 5,070 EPS (₹)
-9.8% -13.0%
5.04 5.79 5.59 Gross NPA %
-110 bps -24 bps
1.8% 2.1% 2.9% Net NPA %
-27 bps -2 bps
0.4% 0.5% 0.7%
Against its own trend ?
Trend Actual Gap
NII ₹9,824 ₹9,815
-0.1% in line Net profit ₹6,215 ₹4,575
-26.4% below
M Cap ₹1,06,887 Cr
P/E 25.9
PEG 0.45
Profit -22% below its own trend Operating margin expanded 108 bps YoY FY26 operating cash flow was only 28% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+11.6% +0.9%
4,714 4,672 4,224 Operating profit
+15.8% -0.1%
1,413 1,415 1,221 OPM %
+108 bps -31 bps
30.0% 30.3% 28.9% Other income
-33.9% +25.4%
129 103 195 Net profit?
+9.2% +5.3%
1,008 958 923 PAT margin %
-46 bps +89 bps
21.4% 20.5% 21.8% EPS (₹)
+9.0% +5.2%
10.09 9.59 9.26
Quality of profit
Pre-tax profit ₹1,264 Cr: core business ₹1,135 Cr, other income ₹129 Cr.
Core profit YoY: +14.5%
· reported profit +9.2%
Cash & debt
FY26 cash from operations ₹959 Cr:
28% of FY26 net profit of ₹3,431 Cr.
Borrowings ₹9,896 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹5,008 ₹4,714
-5.9% below Net profit ₹1,293 ₹1,008
-22.0% below
M Cap ₹1,06,819 Cr
P/E —
PEG —
Operating margin expanded 240 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+47.1% +0.4%
3,531 3,518 2,400 Operating profit
loss widened loss narrowed -255 -539 -231 OPM %
+240 bps +810 bps
-7.2% -15.3% -9.6% Other income
from loss +54.7%
116 75.0 -1,158 Net profit?
loss narrowed loss narrowed -166 -491 -1,391 PAT margin %
+5326 bps +926 bps
-4.7% -14.0% -58.0% EPS (₹)
loss narrowed loss narrowed -0.36 -1.09 -159.79
Quality of profit
Pre-tax profit −₹160 Cr: core business −₹276 Cr, other income ₹116 Cr.
Core profit YoY: loss widened
M Cap ₹1,05,934 Cr
P/E 31.6
PEG 3.16
Profit -58% below its own trend Operating margin contracted 825 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-2.8% -7.5%
6,541 7,074 6,730 Operating profit
-37.9% -23.9%
955 1,255 1,538 OPM %
-825 bps -314 bps
14.6% 17.7% 22.8% Other income
-48.9% -28.3%
148 206 289 Net profit?
-55.3% -19.5%
543 674 1,214 PAT margin %
-974 bps -123 bps
8.3% 9.5% 18.0% EPS (₹)
-54.6% -17.9%
6.87 8.37 15.13
Quality of profit
Pre-tax profit ₹707 Cr: core business ₹559 Cr, other income ₹148 Cr.
Core profit YoY: -54.0%
· reported profit -55.3%
Cash & debt
FY26 cash from operations ₹3,940 Cr:
102% of FY26 net profit of ₹3,862 Cr.
Borrowings ₹614 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹7,119 ₹6,541
-8.1% below Net profit ₹1,297 ₹543
-58.1% below
M Cap ₹1,05,751 Cr
P/E 10.0
PEG 0.23
Profit +35% above its own trend Gross NPA down 106 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Total income
+65.1% +12.8%
9,292 8,239 5,628 Net interest income
+74.7% —
6,134 — 3,511 Other income
-50.0% —
3.0 — 6.0 Net profit?
+135.2% +20.3%
3,397 2,824 1,444 EPS (₹)
+126.7% +19.5%
83.43 69.84 36.81 Gross NPA %
-106 bps +77 bps
2.4% 1.6% 3.4% Net NPA %
-75 bps +74 bps
2.0% 1.3% 2.8%
Against its own trend ?
Trend Actual Gap
Net profit ₹2,510 ₹3,397
+35.3% above
M Cap ₹1,05,620 Cr
P/E —
PEG —
₹ Cr
Mar 2026
Sales
1,139 Operating profit
918 OPM %
80.6% Other income
-43.0 Net profit?
634 PAT margin %
55.7% EPS (₹)
3.11
Dec 2025 and Mar 2025 are not on record for this company, so there is nothing to compare with yet.
Quality of profit
Pre-tax profit ₹861 Cr: core business ₹904 Cr, other income −₹43.0 Cr.
M Cap ₹1,04,760 Cr
P/E 1.3
PEG —
Operating margin contracted 642 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
+7.2% +50.4%
1,05,447 70,108 98,377 Operating profit
-33.1% —
11,259 879 16,818 OPM %
-642 bps +942 bps
10.7% 1.3% 17.1% Other income
-20.5% +27.9%
1,877 1,467 2,361 Net profit?
-31.3% from loss 5,878 -3,483 8,556 PAT margin %
-312 bps +1054 bps
5.6% -5.0% 8.7% EPS (₹)
-31.8% from loss 15.70 -9.47 23.01
Quality of profit
Pre-tax profit ₹7,277 Cr: core business ₹5,400 Cr, other income ₹1,877 Cr.
Core profit YoY: -48.3%
· reported profit -31.3%
M Cap ₹1,04,111 Cr
P/E 24.9
PEG —
Profit +33% above its own trend Gross NPA down 91 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Total income
+9.9% +13.9%
13,666 12,002 12,433 Net interest income
+7.6% —
10,358 — 9,629 Other income
-5.5% —
207 — 219 Net profit?
+31.5% +20.6%
1,165 966 886 EPS (₹)
+29.8% +19.1%
4.31 3.62 3.32 Gross NPA %
-91 bps -18 bps
1.3% 1.5% 2.2% Net NPA %
-54 bps -15 bps
0.7% 0.8% 1.2%
Against its own trend ?
Trend Actual Gap
Net profit ₹874 ₹1,165
+33.3% above
M Cap ₹1,03,438 Cr
P/E 3.6
PEG —
Profit +52% above its own trend Operating margin expanded 237 bps YoY 50% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -7%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-39.2% +5.3%
24,609 23,369 40,455 Operating profit
-34.1% +10.1%
7,559 6,866 11,466 OPM %
+237 bps +134 bps
30.7% 29.4% 28.3% Other income
+625.4% —
5,520 492 761 Net profit?
+88.5% +19.8%
9,352 7,807 4,961 PAT margin %
+2574 bps +459 bps
38.0% 33.4% 12.3% EPS (₹)
+92.0% +17.2%
17.13 14.62 8.92
Quality of profit
Pre-tax profit ₹11,010 Cr: core business ₹5,490 Cr, other income ₹5,520 Cr.
Core profit YoY: -6.9%
· reported profit +88.5%
Cash & debt
FY26 cash from operations ₹39,499 Cr:
157% of FY26 net profit of ₹25,095 Cr.
Borrowings ₹27,844 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹43,140 ₹24,609
-43.0% below Net profit ₹6,141 ₹9,352
+52.3% above
M Cap ₹1,03,021 Cr
P/E 38.0
PEG 38.03
Turnaround: profit against a loss a year ago
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+23.0% +24.5%
16,218 13,027 13,183 Operating profit
+29.5% +79.8%
2,929 1,629 2,262 OPM %
+90 bps +556 bps
18.1% 12.5% 17.2% Other income
loss narrowed loss widened -550 -45.0 -1,158 Net profit?
from loss +450.8%
1,041 189 -304 PAT margin %
+872 bps +497 bps
6.4% 1.5% -2.3% EPS (₹)
from loss +447.6%
10.24 1.87 -3.33
Quality of profit
Pre-tax profit ₹1,074 Cr: core business ₹1,625 Cr, other income −₹550 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +32.2%
Cash & debt
FY26 cash from operations ₹7,204 Cr:
214% of FY26 net profit of ₹3,361 Cr.
Borrowings ₹22,610 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹13,325 ₹16,218
+21.7% above
M Cap ₹1,02,926 Cr
P/E 44.6
PEG 2.03
Profit -10% below its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+14.0% -2.7%
2,765 2,842 2,425 Operating profit
+13.6% -9.6%
973 1,076 857 OPM %
-14 bps -266 bps
35.2% 37.9% 35.3% Other income
+28.2% +35.6%
79.0 58.3 61.6 Net profit?
+14.6% -32.4%
645 954 563 PAT margin %
+13 bps -1025 bps
23.3% 33.6% 23.2% EPS (₹)
+14.7% -33.7%
4.21 6.35 3.67
Quality of profit
Pre-tax profit ₹830 Cr: core business ₹751 Cr, other income ₹79.0 Cr.
Core profit YoY: +13.6%
· reported profit +14.6%
Cash & debt
FY26 cash from operations ₹2,471 Cr:
110% of FY26 net profit of ₹2,247 Cr.
Borrowings ₹2,837 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹2,904 ₹2,765
-4.8% in line Net profit ₹717 ₹645
-10.1% below
M Cap ₹1,02,408 Cr
P/E 31.3
PEG —
Profit -87% below its own trend Operating margin contracted 1568 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
-11.3% +76.2%
7,546 4,283 8,506 Operating profit
-78.4% -79.8%
382 1,888 1,765 OPM %
-1568 bps -3902 bps
5.1% 44.1% 20.7% Other income
+56.7% +77.1%
480 271 306 Net profit?
-86.1% -81.4%
221 1,190 1,587 PAT margin %
-1573 bps -2486 bps
2.9% 27.8% 18.7% EPS (₹)
-86.1% -81.7%
2.65 14.50 19.13
Quality of profit
Pre-tax profit ₹200 Cr: core business −₹281 Cr, other income ₹480 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: to loss
· reported profit -86.1%
Cash & debt
FY26 cash from operations ₹5,674 Cr:
134% of FY26 net profit of ₹4,247 Cr.
Borrowings ₹7,734 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹9,408 ₹7,546
-19.8% below Net profit ₹1,647 ₹221
-86.6% below
M Cap ₹1,01,761 Cr
P/E 20.7
PEG 0.34
Profit +400% above its own trend Operating margin expanded 2040 bps YoY Core business grew faster than reported profit (core profit +855%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+404.5% +19.0%
6,020 5,058 1,193 Operating profit
+874.7% +44.7%
2,545 1,759 261 OPM %
+2040 bps +750 bps
42.3% 34.8% 21.9% Other income
+76.5% -65.0%
34.0 97.2 19.3 Net profit?
+657.9% +40.4%
1,530 1,090 202 PAT margin %
+850 bps +387 bps
25.4% 21.5% 16.9% EPS (₹)
+545.0% +26.9%
25.22 19.87 3.91
Quality of profit
Pre-tax profit ₹2,187 Cr: core business ₹2,153 Cr, other income ₹34.0 Cr.
Core profit YoY: +855.4%
· reported profit +657.9%
Cash & debt
FY26 cash from operations ₹2,921 Cr:
76% of FY26 net profit of ₹3,828 Cr.
Borrowings ₹20,716 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹2,185 ₹6,020
+175.5% above Net profit ₹306 ₹1,530
+399.8% above
M Cap ₹1,01,554 Cr
P/E 56.0
PEG 5.09
Operating margin contracted 114 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+22.1% -5.8%
3,333 3,537 2,730 Operating profit
+13.8% -12.0%
521 592 458 OPM %
-114 bps -111 bps
15.6% 16.7% 16.8% Other income
+27.7% +53.8%
60.0 39.0 47.0 Net profit?
+18.3% -11.3%
408 460 345 PAT margin %
-40 bps -76 bps
12.2% 13.0% 12.6% EPS (₹)
+13.6% -12.8%
3.01 3.45 2.65
Quality of profit
Pre-tax profit ₹504 Cr: core business ₹444 Cr, other income ₹60.0 Cr.
Core profit YoY: +12.7%
· reported profit +18.3%
Cash & debt
FY26 cash from operations ₹2,084 Cr:
115% of FY26 net profit of ₹1,813 Cr.
Borrowings ₹557 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹3,512 ₹3,333
-5.1% below Net profit ₹381 ₹408
+7.0% in line
M Cap ₹1,01,281 Cr
P/E 14.1
PEG 4.70
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Total income
+9.0% +9.1%
7,329 6,719 6,724 Net interest income
+4.9% -2.0%
1,812 1,849 1,727 Other income
to loss to loss -7.0 58.1 1.0 Net profit
+0.1% -6.6%
1,684 1,802 1,682 EPS (₹)
+0.0% -6.5%
1.29 1.38 1.29
Against its own trend ?
Trend Actual Gap
NII ₹1,908 ₹1,812
-5.1% below Net profit ₹1,856 ₹1,684
-9.3% in line
M Cap ₹99,131 Cr
P/E 48.0
PEG 2.82
Profit +54% above its own trend Operating margin expanded 483 bps YoY Core business grew faster than reported profit (core profit +116%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+11.8% -3.5%
3,443 3,567 3,079 Operating profit
+36.1% +1.1%
930 919 683 OPM %
+483 bps +124 bps
27.0% 25.8% 22.2% Other income
-62.9% +23.7%
94.0 76.0 254 Net profit?
+31.6% +35.1%
559 414 425 PAT margin %
+245 bps +463 bps
16.2% 11.6% 13.8% EPS (₹)
+31.7% +35.7%
13.43 9.90 10.20
Quality of profit
Pre-tax profit ₹659 Cr: core business ₹565 Cr, other income ₹94.0 Cr.
Core profit YoY: +115.8%
· reported profit +31.6%
Cash & debt
FY26 cash from operations ₹3,121 Cr:
161% of FY26 net profit of ₹1,938 Cr.
Borrowings ₹6,312 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹3,750 ₹3,443
-8.2% below Net profit ₹363 ₹559
+54.0% above
M Cap ₹99,067 Cr
P/E 13.9
PEG 0.28
Profit +17% above its own trend Operating margin expanded 1964 bps YoY Core business grew faster than reported profit (core profit +194%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+4.8% -0.6%
8,101 8,146 7,727 Operating profit
+63.7% -1.0%
4,424 4,468 2,702 OPM %
+1964 bps -24 bps
54.6% 54.8% 35.0% Other income
+68.5% +0.6%
155 154 92.0 Net profit?
+0.8% +1.0%
1,793 1,774 1,779 PAT margin %
-89 bps +35 bps
22.1% 21.8% 23.0% EPS (₹)
+0.7% +1.0%
6.80 6.73 6.75
Quality of profit
Pre-tax profit ₹2,365 Cr: core business ₹2,210 Cr, other income ₹155 Cr.
Core profit YoY: +194.0%
· reported profit +0.8%
Cash & debt
FY26 cash from operations ₹15,684 Cr:
220% of FY26 net profit of ₹7,144 Cr.
Borrowings ₹21,127 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹8,387 ₹8,101
-3.4% in line Net profit ₹1,538 ₹1,793
+16.6% above
M Cap ₹98,810 Cr
P/E 17.1
PEG 0.59
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+30.2% +3.9%
12,978 12,487 9,970 Operating profit
+29.8% +1.3%
1,870 1,846 1,441 OPM %
-4 bps -38 bps
14.4% 14.8% 14.5% Other income
-23.4% +3.3%
210 203 274 Net profit?
+26.1% +15.6%
1,474 1,275 1,169 PAT margin %
-37 bps +115 bps
11.4% 10.2% 11.7% EPS (₹)
+25.6% +15.2%
72.97 63.36 58.08
Quality of profit
Pre-tax profit ₹1,841 Cr: core business ₹1,631 Cr, other income ₹210 Cr.
Core profit YoY: +33.7%
· reported profit +26.1%
Cash & debt
FY26 cash from operations ₹8,315 Cr:
144% of FY26 net profit of ₹5,776 Cr.
Borrowings ₹779 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹10,978 ₹12,978
+18.2% above Net profit ₹1,448 ₹1,474
+1.8% in line
M Cap ₹98,211 Cr
P/E 26.5
PEG 1.15
Operating margin contracted 161 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+5.6% +2.4%
8,853 8,646 8,382 Operating profit
-2.3% -1.3%
1,750 1,773 1,792 OPM %
-161 bps -74 bps
19.8% 20.5% 21.4% Other income
-13.2% -37.6%
117 188 135 Net profit?
+2.0% +1.2%
921 910 903 PAT margin %
-37 bps -12 bps
10.4% 10.5% 10.8% EPS (₹)
+1.9% +1.2%
15.86 15.67 15.56
Quality of profit
Pre-tax profit ₹1,291 Cr: core business ₹1,173 Cr, other income ₹117 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: -4.8%
· reported profit +2.0%
Cash & debt
FY26 cash from operations ₹5,526 Cr:
158% of FY26 net profit of ₹3,503 Cr.
Borrowings ₹8,073 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹8,996 ₹8,853
-1.6% in line Net profit ₹918 ₹921
+0.3% in line
M Cap ₹97,419 Cr
P/E 375.0
PEG 3.07
Profit +108% above its own trend Operating margin expanded 197 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+28.4% -7.8%
2,648 2,873 2,062 Operating profit
+67.7% +58.0%
223 141 133 OPM %
+197 bps +351 bps
8.4% 4.9% 6.5% Other income
— +376.2%
9.0 1.9 0.5 Net profit?
+315.8% +16.2%
79.0 68.0 19.0 PAT margin %
+206 bps +62 bps
3.0% 2.4% 0.9% EPS (₹)
+285.7% +22.7%
0.27 0.22 0.07
Quality of profit
Pre-tax profit ₹122 Cr: core business ₹113 Cr, other income ₹9.0 Cr.
Core profit YoY: +188.2%
· reported profit +315.8%
Cash & debt
FY26 cash from operations ₹644 Cr:
316% of FY26 net profit of ₹204 Cr.
Borrowings ₹1,238 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹2,564 ₹2,648
+3.3% in line Net profit ₹38.0 ₹79.0
+107.9% above
M Cap ₹95,836 Cr
P/E 50.9
PEG 2.21
Operating margin expanded 1248 bps YoY 34% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-54.0% -17.3%
3,054 3,691 6,634 Operating profit
+28.9% -1.0%
593 599 460 OPM %
+1248 bps +319 bps
19.4% 16.2% 6.9% Other income
+29.1% +343.1%
226 51.0 175 Net profit?
+28.0% +28.9%
539 418 421 PAT margin %
+1130 bps +632 bps
17.6% 11.3% 6.3% EPS (₹)
+25.0% +26.0%
7.41 5.88 5.93
Quality of profit
Pre-tax profit ₹674 Cr: core business ₹448 Cr, other income ₹226 Cr.
Core profit YoY: +21.7%
· reported profit +28.0%
Cash & debt
FY26 cash from operations ₹1,459 Cr:
79% of FY26 net profit of ₹1,838 Cr.
Borrowings ₹413 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹7,196 ₹3,054
-57.6% below Net profit ₹493 ₹539
+9.2% in line
M Cap ₹95,759 Cr
P/E 194.2
PEG 10.22
Profit -94% below its own trend Operating margin contracted 795 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-70.9% +0.6%
404 402 1,388 Operating profit
-77.0% -10.6%
120 134 523 OPM %
-795 bps -371 bps
29.7% 33.4% 37.7% Other income
to loss to loss -34.0 135 223 Net profit?
-90.9% -73.4%
50.0 188 551 PAT margin %
-2729 bps -3451 bps
12.4% 46.9% 39.7% EPS (₹)
-90.9% -73.4%
8.35 31.37 91.84
Quality of profit
Pre-tax profit ₹78.0 Cr: core business ₹112 Cr, other income −₹34.0 Cr.
Core profit YoY: -76.8%
· reported profit -90.9%
Cash & debt
FY26 cash from operations ₹694 Cr:
146% of FY26 net profit of ₹474 Cr.
Borrowings ₹23.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,567 ₹404
-74.2% below Net profit ₹799 ₹50.0
-93.7% below
M Cap ₹94,891 Cr
P/E 57.1
PEG 4.39
Profit -19% below its own trend Operating margin expanded 110 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+17.9% +6.3%
5,434 5,112 4,608 Operating profit
+27.5% +9.8%
792 721 621 OPM %
+110 bps +47 bps
14.6% 14.1% 13.5% Other income
-46.1% +450.0%
55.0 10.0 102 Net profit?
+21.5% +10.1%
424 385 349 PAT margin %
+23 bps +27 bps
7.8% 7.5% 7.6% EPS (₹)
+21.5% +9.0%
4.24 3.89 3.49
Quality of profit
Pre-tax profit ₹644 Cr: core business ₹589 Cr, other income ₹55.0 Cr.
Core profit YoY: +37.6%
· reported profit +21.5%
Cash & debt
FY26 cash from operations ₹2,422 Cr:
125% of FY26 net profit of ₹1,930 Cr.
Borrowings ₹2,820 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹5,419 ₹5,434
+0.3% in line Net profit ₹526 ₹424
-19.3% below
M Cap ₹94,503 Cr
P/E 200.2
PEG 4.66
Turnaround: profit against a loss a year ago Operating margin expanded 145 bps YoY 86% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+37.5% -1.4%
3,938 3,994 2,863 Operating profit
+43.2% -15.0%
1,445 1,701 1,009 OPM %
+145 bps -590 bps
36.7% 42.6% 35.2% Other income
+7.9% from loss 260 -73.0 241 Net profit?
from loss +129.9%
400 174 -253 PAT margin %
+1899 bps +580 bps
10.2% 4.4% -8.8% EPS (₹)
from loss +141.7%
0.29 0.12 -0.23
Quality of profit
Pre-tax profit ₹302 Cr: core business ₹43.0 Cr, other income ₹260 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: from loss
Cash & debt
FY26 cash from operations ₹4,884 Cr:
1035% of FY26 net profit of ₹472 Cr.
Borrowings ₹43,283 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹4,016 ₹3,938
-1.9% in line
M Cap ₹90,411 Cr
P/E 47.0
PEG 1.68
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+25.1% +7.4%
4,056 3,778 3,242 Operating profit
+31.4% +4.8%
768 733 584 OPM %
+91 bps -47 bps
18.9% 19.4% 18.0% Other income
+79.7% -18.5%
33.0 40.5 18.4 Net profit?
+33.7% +20.4%
529 439 396 PAT margin %
+84 bps +141 bps
13.0% 11.6% 12.2% EPS (₹)
+30.9% +19.2%
33.55 28.15 25.64
Quality of profit
Pre-tax profit ₹674 Cr: core business ₹640 Cr, other income ₹33.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +31.5%
· reported profit +33.7%
Cash & debt
FY26 cash from operations ₹1,767 Cr:
95% of FY26 net profit of ₹1,865 Cr.
Borrowings ₹477 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹4,004 ₹4,056
+1.3% in line Net profit ₹523 ₹529
+1.2% in line
M Cap ₹90,218 Cr
P/E 26.4
PEG 2.03
Profit +21% above its own trend Operating margin expanded 658 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+20.3% +5.0%
2,065 1,966 1,716 Operating profit
+38.1% +28.8%
1,056 820 765 OPM %
+658 bps +943 bps
51.1% 41.7% 44.6% Other income
-13.3% +11.3%
71.0 63.8 81.9 Net profit?
+30.8% +38.0%
842 610 644 PAT margin %
+326 bps +975 bps
40.8% 31.0% 37.5% EPS (₹)
+30.4% +38.0%
96.71 70.06 74.15
Quality of profit
Pre-tax profit ₹1,120 Cr: core business ₹1,049 Cr, other income ₹71.0 Cr.
Core profit YoY: +38.6%
· reported profit +30.8%
Cash & debt
FY26 cash from operations ₹2,638 Cr:
100% of FY26 net profit of ₹2,640 Cr.
Borrowings ₹32.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,830 ₹2,065
+12.8% above Net profit ₹698 ₹842
+20.7% above
M Cap ₹89,321 Cr
P/E —
PEG —
₹ Cr
Mar 2026
Sales
967 Operating profit
223 OPM %
23.1% Other income
15.0 Net profit
92.0 PAT margin %
9.5% EPS (₹)
0.78
Dec 2025 and Mar 2025 are not on record for this company, so there is nothing to compare with yet.
Quality of profit
Pre-tax profit ₹118 Cr: core business ₹104 Cr, other income ₹15.0 Cr, exceptional & other items −₹1.0 Cr.
M Cap ₹89,148 Cr
P/E 9.6
PEG 0.27
Profit -19% below its own trend Gross NPA down 66 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Total income
+4.7% +14.0%
9,518 8,352 9,090 Net interest income
+17.0% +20.0%
3,860 3,218 3,300 Other income
-18.6% +34.8%
1,714 1,271 2,107 Net profit?
-2.8% +3.0%
2,013 1,954 2,072 EPS (₹)
-3.6% +2.7%
1.87 1.82 1.94 Gross NPA %
-66 bps -25 bps
2.3% 2.6% 3.0% Net NPA %
+0 bps -3 bps
0.1% 0.2% 0.1%
Against its own trend ?
Trend Actual Gap
NII ₹2,872 ₹3,860
+34.4% above Net profit ₹2,495 ₹2,013
-19.3% below
M Cap ₹88,481 Cr
P/E 16.5
PEG 0.12
Profit +16% above its own trend Operating margin expanded 994 bps YoY Core business grew faster than reported profit (core profit +129%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+31.9% +4.3%
7,475 7,168 5,667 Operating profit
+88.2% +9.9%
2,486 2,262 1,321 OPM %
+994 bps +170 bps
33.3% 31.6% 23.3% Other income
-84.2% -92.2%
9.0 115 57.0 Net profit?
+87.8% +24.4%
1,469 1,181 782 PAT margin %
+585 bps +318 bps
19.7% 16.5% 13.8% EPS (₹)
+88.7% +24.1%
31.94 25.74 16.93
Quality of profit
Pre-tax profit ₹1,928 Cr: core business ₹1,919 Cr, other income ₹9.0 Cr.
Core profit YoY: +128.8%
· reported profit +87.8%
Cash & debt
FY26 cash from operations ₹7,334 Cr:
137% of FY26 net profit of ₹5,356 Cr.
Borrowings ₹6,616 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹6,757 ₹7,475
+10.6% above Net profit ₹1,269 ₹1,469
+15.8% 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 13 Oct 2026, 15:48 IST
