Home › Quarterly results › Q4 FY26
Q4 FY26 quarterly results (January-March 2026)
5,115 companies have declared Q4 FY26 results so far, the latest on 12 Oct 2026.
Across the 4,645 non-financial companies with a year-ago quarter to compare, sales grew +12.4% and net profit +34.1% year on year, and the combined operating margin widened 10 bps to 14.3%.
For the 120 banks and lenders, net interest income grew +9.1% and net profit +11.1%.
55% of companies grew net profit; 472 turned a loss into a profit; 38% beat their own profit trend and 48% fell short of it.
5115 declared
Latest results
Results calendar
Q2 FY27 Q1 FY27 Q4 FY26 Q3 FY26 Q2 FY26
The next results season has started: 38 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
1375 matching results 1375
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M Cap ₹6,507 Cr
P/E 47.5
PEG 0.33
Profit -71% below its own trend Operating margin expanded 220 bps YoY 46% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+24.5% -13.8%
971 1,126 780 Operating profit
+55.9% -49.5%
106 210 68.0 OPM %
+220 bps -773 bps
10.9% 18.7% 8.7% Other income
-77.8% +200.0%
6.0 2.0 27.0 Net profit
-42.1% -87.5%
11.0 88.0 19.0 PAT margin %
-130 bps -668 bps
1.1% 7.8% 2.4% EPS (₹)
-39.3% -87.2%
1.42 11.08 2.34
Quality of profit
Pre-tax profit ₹13.0 Cr: core business ₹7.0 Cr, other income ₹6.0 Cr.
Core profit YoY: from loss
· reported profit -42.1%
Cash & debt
FY26 cash from operations ₹501 Cr:
404% of FY26 net profit of ₹124 Cr.
Borrowings ₹958 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹894 ₹971
+8.6% above Net profit ₹38.0 ₹11.0
-71.1% below
M Cap ₹6,455 Cr
P/E 169.9
PEG 24.27
Turnaround: profit against a loss a year ago Operating margin expanded 539 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
-3.9% +0.7%
296 294 308 Operating profit
+6.5% -6.9%
163 175 153 OPM %
+539 bps -446 bps
55.1% 59.5% 49.7% Other income
— from loss 665 -2.0 2.0 Net profit
from loss from loss 581 -150 -306 EPS (₹)
from loss from loss 2.97 -0.77 -1.57
Quality of profit
Pre-tax profit ₹581 Cr: core business −₹84.0 Cr, other income ₹665 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY26 cash from operations ₹668 Cr.
Borrowings ₹20,869 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹271 ₹296
+9.2% above
M Cap ₹6,378 Cr
P/E 5.1
PEG 0.08
Profit -78% below its own trend Operating margin contracted 431 bps YoY 42% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-25.7% +7.6%
2,300 2,138 3,096 Operating profit
-40.7% +2.6%
392 382 661 OPM %
-431 bps -82 bps
17.0% 17.9% 21.4% Other income
-24.4% -91.4%
65.0 755 86.0 Net profit?
-55.1% -84.3%
124 789 276 PAT margin %
-352 bps -3151 bps
5.4% 36.9% 8.9% EPS (₹)
-79.8% -92.5%
3.82 51.09 18.92
Quality of profit
Pre-tax profit ₹153 Cr: core business ₹88.0 Cr, other income ₹65.0 Cr.
Core profit YoY: -66.8%
· reported profit -55.1%
Cash & debt
FY26 cash from operations ₹1,204 Cr:
86% of FY26 net profit of ₹1,398 Cr.
Borrowings ₹8,041 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹2,572 ₹2,300
-10.6% below Net profit ₹552 ₹124
-77.5% below
M Cap ₹6,290 Cr
P/E 87.4
PEG 2.19
Profit +22% above its own trend 56% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -12%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+8.5% -3.8%
308 320 284 Operating profit
-4.8% -16.7%
20.0 24.0 21.0 OPM %
-90 bps -101 bps
6.5% 7.5% 7.4% Other income
+216.7% +35.7%
19.0 14.0 6.0 Net profit?
+88.2% +33.3%
32.0 24.0 17.0 PAT margin %
+440 bps +289 bps
10.4% 7.5% 6.0% EPS (₹)
+69.8% +32.7%
0.73 0.55 0.43
Quality of profit
Pre-tax profit ₹34.0 Cr: core business ₹15.0 Cr, other income ₹19.0 Cr.
Core profit YoY: -11.8%
· reported profit +88.2%
Cash & debt
FY26 cash from operations ₹196 Cr:
272% of FY26 net profit of ₹71.9 Cr.
Borrowings ₹44.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹439 ₹308
-29.9% below Net profit ₹26.3 ₹32.0
+21.9% above
26% of pre-tax profit came from other income and one-off items
₹ Cr
Mar 2026
Sales
204 Operating profit
104 OPM %
51.0% Other income
9.0 Net profit?
26.0 PAT margin %
12.7% EPS (₹)
9.31
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 ₹35.0 Cr: core business ₹26.0 Cr, other income ₹9.0 Cr.
M Cap ₹6,253 Cr
P/E 33.4
PEG 4.77
Profit +271% above its own trend Operating margin expanded 159 bps YoY 32% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +64%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+18.8% +6.4%
1,042 979 877 Operating profit
+37.9% +26.3%
120 95.0 87.0 OPM %
+159 bps +181 bps
11.5% 9.7% 9.9% Other income
+213.5% +933.3%
31.0 3.0 9.9 Net profit?
+160.7% +446.2%
71.0 13.0 27.2 PAT margin %
+371 bps +549 bps
6.8% 1.3% 3.1% EPS (₹)
+161.6% +469.2%
5.18 0.91 1.98
Quality of profit
Pre-tax profit ₹97.0 Cr: core business ₹66.0 Cr, other income ₹31.0 Cr.
Core profit YoY: +63.7%
· reported profit +160.7%
Cash & debt
FY26 cash from operations ₹171 Cr:
93% of FY26 net profit of ₹183 Cr.
Borrowings ₹993 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,011 ₹1,042
+3.0% in line Net profit ₹19.1 ₹71.0
+271.3% above
M Cap ₹6,231 Cr
P/E 8.1
PEG —
Operating margin expanded 2144 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
-38.2% +11.3%
524 471 848 Operating profit
-10.4% +52.1%
362 238 404 OPM %
+2144 bps +1855 bps
69.1% 50.5% 47.6% Other income
+41.0% +230.8%
86.0 26.0 61.0 Net profit?
-2.4% +113.6%
282 132 289 PAT margin %
+1974 bps +2579 bps
53.8% 28.0% 34.1% EPS (₹)
-3.0% +110.6%
4.59 2.18 4.73
Quality of profit
Pre-tax profit ₹264 Cr: core business ₹179 Cr, other income ₹86.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: -18.6%
· reported profit -2.4%
M Cap ₹6,230 Cr
P/E 73.3
PEG —
Operating margin contracted 411 bps YoY 33% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -15%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+21.5% +2.3%
266 260 219 Operating profit
+0.0% -16.4%
51.0 61.0 51.0 OPM %
-411 bps -429 bps
19.2% 23.5% 23.3% Other income
+200.0% +300.0%
12.0 3.0 4.0 Net profit?
+20.0% -6.2%
30.0 32.0 25.0 PAT margin %
-14 bps -103 bps
11.3% 12.3% 11.4% EPS (₹)
-97.5% -5.6%
3.03 3.21 119.30
Quality of profit
Pre-tax profit ₹33.0 Cr: core business ₹22.0 Cr, other income ₹12.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: -15.4%
· reported profit +20.0%
M Cap ₹6,073 Cr
P/E 46.3
PEG 0.33
Operating margin expanded 984 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
+53.2% +0.3%
175 175 114 Operating profit
+141.8% -13.0%
47.0 54.0 19.4 OPM %
+984 bps -408 bps
26.9% 30.9% 17.0% Other income
+18.9% +270.4%
14.0 3.8 11.8 Net profit?
+105.9% +10.2%
37.0 33.6 18.0 PAT margin %
+541 bps +191 bps
21.1% 19.2% 15.7% EPS (₹)
+80.1% -5.9%
6.86 7.29 3.81
Quality of profit
Pre-tax profit ₹159 Cr: core business −₹9.3 Cr, other income ₹14.0 Cr, exceptional & other items ₹154 Cr.
Core profit YoY: to loss
· reported profit +105.9%
Cash & debt
FY26 cash from operations ₹62.0 Cr:
51% of FY26 net profit of ₹122 Cr.
Borrowings ₹342 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹188 ₹175
-7.0% below Net profit ₹35.7 ₹37.0
+3.7% in line
M Cap ₹6,008 Cr
P/E 24.5
PEG 0.79
Operating margin contracted 421 bps YoY 43% of pre-tax profit came from other income and one-off items Exceptional items of ₹3.2 Cr in the quarter Profit grew faster than the core business (core profit -52%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+18.1% +4.8%
1,074 1,025 910 Operating profit
-35.7% -31.6%
54.0 79.0 84.0 OPM %
-421 bps -268 bps
5.0% 7.7% 9.2% Other income
-61.4% +67.3%
10.0 6.0 26.0 Net profit?
+2.9% +1.4%
70.0 69.0 68.0 PAT margin %
-96 bps -22 bps
6.5% 6.7% 7.5% EPS (₹)
+2.6% +1.5%
11.56 11.39 11.27
Quality of profit
Pre-tax profit ₹54.0 Cr: core business ₹31.0 Cr, other income ₹10.0 Cr, exceptional & other items ₹13.0 Cr.
Core profit YoY: -52.3%
· reported profit +2.9%
Cash & debt
FY26 cash from operations ₹295 Cr:
110% of FY26 net profit of ₹268 Cr.
Borrowings ₹57.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,020 ₹1,074
+5.4% above Net profit ₹72.3 ₹70.0
-3.1% in line
M Cap ₹5,960 Cr
P/E 88.2
PEG —
Turnaround: profit against a loss a year ago Operating margin contracted 237 bps YoY 35% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+17.0% +6.8%
944 884 807 Operating profit
-9.9% -28.5%
75.0 105 83.2 OPM %
-237 bps -394 bps
7.9% 11.9% 10.3% Other income
from loss +3.6%
9.0 8.7 -4.7 Net profit?
from loss from loss 15.0 -8.9 -27.9 PAT margin %
+505 bps +260 bps
1.6% -1.0% -3.5% EPS (₹)
from loss from loss 3.82 -1.78 -6.00
Quality of profit
Pre-tax profit ₹26.0 Cr: core business ₹17.0 Cr, other income ₹9.0 Cr.
Core profit YoY: -6.8%
Cash & debt
FY26 cash from operations ₹389 Cr:
699% of FY26 net profit of ₹55.6 Cr.
Borrowings ₹1,041 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹884 ₹944
+6.8% above
M Cap ₹5,948 Cr
P/E 231.2
PEG —
Profit -45% below its own trend Operating margin contracted 629 bps YoY 50% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -40%) Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+61.6% +9.3%
142 130 87.9 Operating profit
+4.0% -6.2%
16.1 17.2 15.5 OPM %
-629 bps -188 bps
11.4% 13.2% 17.6% Other income
+347.4% —
4.8 0.0 1.1 Net profit?
+9.8% +39.2%
7.5 5.4 6.8 PAT margin %
-250 bps +113 bps
5.3% 4.2% 7.8% EPS (₹)
+9.9% +39.9%
2.00 1.43 1.82
Quality of profit
Pre-tax profit ₹9.6 Cr: core business ₹4.8 Cr, other income ₹4.8 Cr.
Core profit YoY: -39.7%
· reported profit +9.8%
Cash & debt
FY26 cash from operations −₹83.0 Cr:
-379% of FY26 net profit of ₹21.9 Cr.
Borrowings ₹409 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹161 ₹142
-11.7% below Net profit ₹13.7 ₹7.5
-45.1% below
M Cap ₹5,913 Cr
P/E 8.5
PEG —
Profit -48% below its own trend Operating margin contracted 101 bps YoY 60% of pre-tax profit came from other income and one-off items FY26 operating cash flow was only 20% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+37.0% -10.5%
2,633 2,941 1,922 Operating profit
+3.8% -53.3%
83.0 178 80.0 OPM %
-101 bps -289 bps
3.2% 6.0% 4.2% Other income
-35.9% -30.6%
39.0 56.2 60.9 Net profit?
-27.5% -67.1%
52.0 158 71.8 PAT margin %
-176 bps -340 bps
2.0% 5.4% 3.7% EPS (₹)
-27.2% -67.0%
1.31 3.97 1.80
Quality of profit
Pre-tax profit ₹65.0 Cr: core business ₹26.0 Cr, other income ₹39.0 Cr.
Core profit YoY: -6.5%
· reported profit -27.5%
Cash & debt
FY26 cash from operations ₹136 Cr:
20% of FY26 net profit of ₹673 Cr.
Borrowings ₹27.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,975 ₹2,633
+33.3% above Net profit ₹99.3 ₹52.0
-47.7% below
M Cap ₹5,845 Cr
P/E 61.3
PEG —
Profit -78% below its own trend Operating margin contracted 1322 bps YoY 31% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-6.5% +18.0%
301 255 322 Operating profit
-50.9% -18.5%
44.0 54.0 89.6 OPM %
-1322 bps -656 bps
14.6% 21.2% 27.8% Other income
-56.7% -28.6%
5.0 7.0 11.6 Net profit?
-79.4% -50.0%
12.0 24.0 58.3 PAT margin %
-1413 bps -543 bps
4.0% 9.4% 18.1% EPS (₹)
-76.9% -42.9%
1.09 1.91 4.72
Quality of profit
Pre-tax profit ₹16.0 Cr: core business ₹11.0 Cr, other income ₹5.0 Cr.
Core profit YoY: -83.8%
· reported profit -79.4%
Cash & debt
FY26 cash from operations ₹140 Cr:
133% of FY26 net profit of ₹105 Cr.
Borrowings ₹466 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹352 ₹301
-14.4% below Net profit ₹55.6 ₹12.0
-78.4% below
M Cap ₹5,778 Cr
P/E 21.6
PEG 0.24
Profit -31% below its own trend Operating margin contracted 505 bps YoY 31% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -26%) FY26 operating cash flow was only 12% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-2.2% -15.1%
264 311 270 Operating profit
-20.0% -29.4%
60.0 85.0 75.0 OPM %
-505 bps -460 bps
22.7% 27.3% 27.8% Other income
+475.0% +475.0%
23.0 4.0 4.0 Net profit?
+4.8% -7.0%
66.0 71.0 63.0 PAT margin %
+167 bps +217 bps
25.0% 22.8% 23.3% EPS (₹)
-5.4% -12.3%
5.42 6.18 5.73
Quality of profit
Pre-tax profit ₹75.0 Cr: core business ₹52.0 Cr, other income ₹23.0 Cr.
Core profit YoY: -25.7%
· reported profit +4.8%
Cash & debt
FY26 cash from operations ₹32.0 Cr:
12% of FY26 net profit of ₹259 Cr.
Borrowings ₹152 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹362 ₹264
-27.0% below Net profit ₹95.4 ₹66.0
-30.8% below
M Cap ₹5,767 Cr
P/E 21.8
PEG —
Profit -51% below its own trend Operating margin contracted 1037 bps YoY 28% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-62.2% +4.1%
95.0 91.3 251 Operating profit
-66.8% -4.1%
72.0 75.1 217 OPM %
-1037 bps -646 bps
75.8% 82.3% 86.2% Other income
+250.9% —
27.0 0.2 7.7 Net profit?
-63.0% +13.5%
61.0 53.7 165 PAT margin %
-138 bps +534 bps
64.2% 58.9% 65.6% EPS (₹)
-62.8% +14.3%
7.36 6.44 19.78
Quality of profit
Pre-tax profit ₹96.0 Cr: core business ₹69.0 Cr, other income ₹27.0 Cr.
Core profit YoY: -67.7%
· reported profit -63.0%
Against its own trend ?
Trend Actual Gap
Sales ₹181 ₹95.0
-47.5% below Net profit ₹124 ₹61.0
-50.7% below
M Cap ₹5,752 Cr
P/E 13.4
PEG —
Profit +122% above its own trend 41% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +254%) Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+49.6% +31.7%
5,581 4,236 3,730 Operating profit
+80.9% +31.6%
322 245 178 OPM %
+100 bps -1 bps
5.8% 5.8% 4.8% Other income
+109.3% +116.1%
113 52.3 54.0 Net profit?
+159.7% +131.0%
187 81.0 72.0 PAT margin %
+142 bps +144 bps
3.4% 1.9% 1.9% EPS (₹)
+158.0% +129.9%
3.38 1.47 1.31
Quality of profit
Pre-tax profit ₹276 Cr: core business ₹163 Cr, other income ₹113 Cr.
Core profit YoY: +254.3%
· reported profit +159.7%
Cash & debt
FY26 cash from operations −₹471 Cr:
-110% of FY26 net profit of ₹428 Cr.
Borrowings ₹4,128 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹3,542 ₹5,581
+57.6% above Net profit ₹84.4 ₹187
+121.7% above
M Cap ₹5,699 Cr
P/E 69.7
PEG 4.65
Operating margin expanded 502 bps YoY 29% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -11%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-29.0% -23.2%
142 185 200 Operating profit
-6.8% -8.6%
30.0 32.8 32.2 OPM %
+502 bps +336 bps
21.1% 17.8% 16.1% Other income
+119.2% +27.9%
10.0 7.8 4.6 Net profit?
+12.8% -0.0%
28.0 28.0 24.8 PAT margin %
+730 bps +456 bps
19.7% 15.2% 12.4% EPS (₹)
+14.2% +1.2%
3.30 3.26 2.89
Quality of profit
Pre-tax profit ₹38.0 Cr: core business ₹27.0 Cr, other income ₹10.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: -10.7%
· reported profit +12.8%
Cash & debt
FY26 cash from operations ₹70.0 Cr:
85% of FY26 net profit of ₹82.1 Cr.
Borrowings ₹1.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹227 ₹142
-37.4% below Net profit ₹27.2 ₹28.0
+3.1% in line
M Cap ₹5,570 Cr
P/E 11.1
PEG 0.09
Profit -38% below its own trend 39% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +7%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+6.2% +0.3%
307 306 289 Operating profit
+3.5% -6.3%
89.0 95.0 86.0 OPM %
-77 bps -206 bps
29.0% 31.0% 29.8% Other income
-55.0% -23.4%
49.0 64.0 109 Net profit
-36.7% -15.3%
100 118 158 PAT margin %
-2210 bps -599 bps
32.6% 38.6% 54.7% EPS (₹)
-36.5% -15.2%
11.76 13.87 18.53
Quality of profit
Pre-tax profit ₹125 Cr: core business ₹76.0 Cr, other income ₹49.0 Cr.
Core profit YoY: +7.0%
· reported profit -36.7%
Cash & debt
FY26 cash from operations ₹269 Cr:
54% of FY26 net profit of ₹497 Cr.
Borrowings ₹85.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹308 ₹307
-0.2% in line Net profit ₹161 ₹100
-37.8% below
M Cap ₹5,558 Cr
P/E 19.1
PEG 1.19
Profit +237% above its own trend Operating margin expanded 714 bps YoY 36% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +143%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+18.9% +25.8%
585 465 492 Operating profit
+96.3% +103.8%
106 52.0 54.0 OPM %
+714 bps +694 bps
18.1% 11.2% 11.0% Other income
+212.5% —
50.0 0.0 16.0 Net profit?
+164.1% +267.9%
103 28.0 39.0 PAT margin %
+968 bps +1159 bps
17.6% 6.0% 7.9% EPS (₹)
+166.8% +264.9%
6.35 1.74 2.38
Quality of profit
Pre-tax profit ₹140 Cr: core business ₹90.0 Cr, other income ₹50.0 Cr.
Core profit YoY: +143.2%
· reported profit +164.1%
Cash & debt
FY26 cash from operations ₹200 Cr:
71% of FY26 net profit of ₹280 Cr.
Borrowings ₹15.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹496 ₹585
+17.9% above Net profit ₹30.5 ₹103
+237.3% above
M Cap ₹5,554 Cr
P/E 82.1
PEG 1.16
Turnaround: profit against a loss a year ago 35% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+21.3% +11.6%
3,032 2,716 2,499 Operating profit
+29.0% +6.1%
218 206 169 OPM %
+43 bps -38 bps
7.2% 7.6% 6.8% Other income
-42.9% +11.1%
8.0 7.2 14.0 Net profit?
from loss +60.9%
18.0 11.2 -4.0 PAT margin %
+75 bps +18 bps
0.6% 0.4% -0.2% EPS (₹)
from loss +66.7%
0.40 0.24 -0.11
Quality of profit
Pre-tax profit ₹26.0 Cr: core business ₹17.0 Cr, other income ₹8.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: from loss
Cash & debt
FY26 cash from operations ₹746 Cr:
641% of FY26 net profit of ₹116 Cr.
Borrowings ₹2,755 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹2,611 ₹3,032
+16.1% above
M Cap ₹5,398 Cr
P/E 192.7
PEG —
Turnaround: profit against a loss a year ago 59% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+45.3% +10.2%
520 472 358 Operating profit
+45.7% +10.5%
338 306 232 OPM %
+20 bps +17 bps
65.0% 64.8% 64.8% Other income
+225.0% -18.8%
13.0 16.0 4.0 Net profit?
from loss —
17.0 1.0 -8.0 PAT margin %
+550 bps +306 bps
3.3% 0.2% -2.2% EPS (₹)
from loss —
1.45 0.11 -0.80
Quality of profit
Pre-tax profit ₹22.0 Cr: core business ₹9.0 Cr, other income ₹13.0 Cr.
Core profit YoY: from loss
M Cap ₹5,382 Cr
P/E 26.9
PEG 2.45
Profit -45% below its own trend 66% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -13%) FY26 operating cash flow was only 39% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+24.6% +9.4%
840 768 674 Operating profit
+11.7% +14.6%
69.0 60.2 61.8 OPM %
-95 bps +38 bps
8.2% 7.8% 9.2% Other income
+45.8% +243.9%
51.0 14.8 35.0 Net profit?
+10.7% +102.3%
55.0 27.2 49.7 PAT margin %
-82 bps +301 bps
6.5% 3.5% 7.4% EPS (₹)
+11.3% +103.3%
15.94 7.84 14.32
Quality of profit
Pre-tax profit ₹77.0 Cr: core business ₹26.0 Cr, other income ₹51.0 Cr.
Core profit YoY: -13.2%
· reported profit +10.7%
Cash & debt
FY26 cash from operations ₹63.0 Cr:
39% of FY26 net profit of ₹163 Cr.
Borrowings ₹1,177 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹840 ₹840
+0.0% in line Net profit ₹99.4 ₹55.0
-44.7% below
M Cap ₹5,307 Cr
P/E 171.8
PEG —
Profit -40% below its own trend Operating margin contracted 588 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
-1.7% +0.4%
845 841 860 Operating profit
-68.9% -51.4%
23.0 47.3 73.9 OPM %
-588 bps -290 bps
2.7% 5.6% 8.6% Other income
+185.2% +460.9%
33.0 5.9 11.6 Net profit?
-69.9% from loss 12.0 -12.4 39.8 PAT margin %
-321 bps +289 bps
1.4% -1.5% 4.6% EPS (₹)
-71.0% from loss 0.63 -0.67 2.17
Quality of profit
Pre-tax profit ₹24.0 Cr: core business −₹9.0 Cr, other income ₹33.0 Cr.
Core profit YoY: to loss
· reported profit -69.9%
Cash & debt
FY26 cash from operations ₹200 Cr:
825% of FY26 net profit of ₹24.2 Cr.
Borrowings ₹173 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹818 ₹845
+3.3% in line Net profit ₹19.9 ₹12.0
-39.7% below
M Cap ₹5,032 Cr
P/E 20.6
PEG 0.64
Profit -87% below its own trend Operating margin contracted 372 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
-27.8% +7.2%
992 925 1,374 Operating profit
-40.6% +155.2%
171 67.0 288 OPM %
-372 bps +999 bps
17.2% 7.2% 21.0% Other income
+72.2% -59.2%
31.0 76.0 18.0 Net profit?
-74.2% -31.3%
59.0 85.9 228 PAT margin %
-1067 bps -334 bps
5.9% 9.3% 16.6% EPS (₹)
-81.7% -43.9%
0.23 0.41 1.26
Quality of profit
Pre-tax profit ₹92.0 Cr: core business ₹61.0 Cr, other income ₹31.0 Cr.
Core profit YoY: -60.6%
· reported profit -74.2%
Cash & debt
FY26 cash from operations ₹892 Cr:
366% of FY26 net profit of ₹243 Cr.
Borrowings ₹1,019 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,100 ₹992
-9.8% below Net profit ₹457 ₹59.0
-87.1% below
M Cap ₹4,976 Cr
P/E 33.1
PEG 11.04
Turnaround: profit against a loss a year ago Operating margin expanded 1450 bps YoY 27% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+177.1% +40.5%
1,502 1,069 542 Operating profit
+903.3% +37.4%
301 219 30.0 OPM %
+1450 bps -45 bps
20.0% 20.5% 5.5% Other income
+77.3% +11.4%
39.0 35.0 22.0 Net profit?
from loss +89.7%
110 58.0 -88.0 PAT margin %
+2356 bps +190 bps
7.3% 5.4% -16.2% EPS (₹)
from loss +88.9%
4.78 2.53 -3.62
Quality of profit
Pre-tax profit ₹145 Cr: core business ₹106 Cr, other income ₹39.0 Cr.
Core profit YoY: from loss
Cash & debt
FY26 cash from operations ₹345 Cr:
616% of FY26 net profit of ₹56.0 Cr.
Borrowings ₹5,595 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹568 ₹1,502
+164.6% above
M Cap ₹4,971 Cr
P/E 51.2
PEG —
Profit -24% below its own trend Operating margin contracted 549 bps YoY 30% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+8.3% +5.9%
91.0 85.9 84.0 Operating profit
-12.5% -6.1%
21.0 22.4 24.0 OPM %
-549 bps -295 bps
23.1% 26.0% 28.6% Other income
-9.1% +14.3%
10.0 8.8 11.0 Net profit
-13.8% +55.4%
25.0 16.1 29.0 PAT margin %
-705 bps +874 bps
27.5% 18.7% 34.5% EPS (₹)
-13.8% +56.9%
10.23 6.52 11.87
Quality of profit
Pre-tax profit ₹30.0 Cr: core business ₹21.0 Cr, other income ₹10.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: -8.7%
· reported profit -13.8%
Cash & debt
FY26 cash from operations ₹47.0 Cr:
50% of FY26 net profit of ₹93.1 Cr.
Borrowings ₹3.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹83.6 ₹91.0
+8.8% above Net profit ₹33.0 ₹25.0
-24.3% below
M Cap ₹4,967 Cr
P/E 223.4
PEG 3.55
Profit +138% above its own trend 35% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -1%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+0.2% +14.8%
238 207 237 Operating profit
-3.5% —
27.0 1.6 28.0 OPM %
-44 bps +1059 bps
11.3% 0.8% 11.8% Other income
+105.3% +42.6%
8.0 5.6 3.9 Net profit?
+25.4% from loss 24.0 -12.1 19.1 PAT margin %
+203 bps +1594 bps
10.1% -5.9% 8.1% EPS (₹)
+6.8% from loss 4.69 -2.49 4.39
Quality of profit
Pre-tax profit ₹23.0 Cr: core business ₹15.0 Cr, other income ₹8.0 Cr.
Core profit YoY: -1.3%
· reported profit +25.4%
Cash & debt
FY26 cash from operations ₹101 Cr:
454% of FY26 net profit of ₹22.2 Cr.
Borrowings ₹363 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹217 ₹238
+9.9% above Net profit ₹10.1 ₹24.0
+137.6% above
M Cap ₹4,953 Cr
P/E 40.9
PEG —
42% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+6.1% +7.4%
87.0 81.0 82.0 Operating profit
+8.0% +8.0%
27.0 25.0 25.0 OPM %
+55 bps +17 bps
31.0% 30.9% 30.5% Other income
+36.4% -6.2%
15.0 16.0 11.0 Net profit
+27.8% -11.5%
23.0 26.0 18.0 PAT margin %
+449 bps -566 bps
26.4% 32.1% 22.0% EPS (₹)
+16.5% -12.4%
1.62 1.85 1.39
Quality of profit
Pre-tax profit ₹33.0 Cr: core business ₹19.0 Cr, other income ₹15.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +35.7%
· reported profit +27.8%
Against its own trend ?
Trend Actual Gap
Sales ₹87.2 ₹87.0
-0.3% in line Net profit ₹23.4 ₹23.0
-1.8% in line
M Cap ₹4,950 Cr
P/E 13.7
PEG —
Profit +13% above its own trend Operating margin contracted 125 bps YoY 35% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+5.3% +17.2%
742 634 705 Operating profit
-0.7% +1.7%
153 150 154 OPM %
-125 bps -312 bps
20.6% 23.7% 21.8% Other income
+44.0% —
53.3 3.6 37.0 Net profit?
+18.9% +61.5%
115 71.5 97.0 PAT margin %
+178 bps +427 bps
15.5% 11.3% 13.8% EPS (₹)
+19.4% +61.5%
17.83 11.04 14.93
Quality of profit
Pre-tax profit ₹153 Cr: core business ₹99.3 Cr, other income ₹53.3 Cr.
Core profit YoY: +11.6%
· reported profit +18.9%
Cash & debt
FY26 cash from operations ₹571 Cr:
162% of FY26 net profit of ₹352 Cr.
Borrowings ₹241 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹708 ₹742
+4.9% in line Net profit ₹102 ₹115
+12.8% 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, 14:24 IST
