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
-3.2%
median; 34% of 35 stocks up
Other-income heavy
1375
25%+ of pre-tax profit from other income & one-offs
Filters & sorting
Results by sector
Latest Q4 FY26 results 5115
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M Cap ₹260 Cr
P/E 12.8
PEG 0.09
Profit -41% below its own trend Operating margin contracted 787 bps YoY Core business grew faster than reported profit (core profit +104%) Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+188.1% +39.8%
37.4 26.8 13.0 Operating profit
+107.7% +3.8%
7.6 7.3 3.7 OPM %
-787 bps -703 bps
20.3% 27.3% 28.2% Other income
-12.3% +180.3%
1.7 0.6 1.9 Net profit?
+13.9% -12.3%
4.3 5.0 3.8 PAT margin %
-1774 bps -689 bps
11.6% 18.5% 29.3% EPS (₹)
+0.0% -26.5%
2.38 3.24 2.38
Quality of profit
Pre-tax profit ₹7.7 Cr: core business ₹6.0 Cr, other income ₹1.7 Cr.
Core profit YoY: +104.1%
· reported profit +13.9%
Cash & debt
FY26 cash from operations −₹37.0 Cr:
-204% of FY26 net profit of ₹18.2 Cr.
Borrowings ₹34.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹26.0 ₹37.4
+44.1% above Net profit ₹7.3 ₹4.3
-40.7% below
M Cap ₹258 Cr
P/E 7.1
PEG 7.10
Into loss: a profit a year ago Profit -101% below its own trend Operating margin expanded 789 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
-0.7% -21.8%
51.6 66.0 52.0 Operating profit
+984.5% +25.3%
4.5 3.6 0.4 OPM %
+789 bps +327 bps
8.7% 5.4% 0.8% Other income
-6.0% +109.1%
3.6 1.7 3.9 Net profit?
to loss to loss -0.0 1.6 1.5 PAT margin %
-287 bps -245 bps
-0.0% 2.4% 2.8% EPS (₹)
to loss to loss -0.01 0.84 1.14
Quality of profit
Pre-tax profit ₹2.5 Cr: core business −₹1.1 Cr, other income ₹3.6 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY26 cash from operations −₹13.0 Cr:
-31% of FY26 net profit of ₹41.6 Cr.
Borrowings ₹138 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹66.8 ₹51.6
-22.7% below Net profit ₹1.3 −₹0.0
-100.8% below
M Cap ₹257 Cr
P/E 10.6
PEG 0.89
Profit -19% below its own trend Operating margin contracted 206 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+36.2% +22.1%
138 113 102 Operating profit
+16.2% -9.2%
16.6 18.3 14.3 OPM %
-206 bps -414 bps
12.0% 16.2% 14.1% Other income
-24.1% +267.5%
0.8 0.2 1.0 Net profit?
+7.7% -16.7%
4.8 5.7 4.4 PAT margin %
-91 bps -160 bps
3.4% 5.0% 4.4% EPS (₹)
+36.8% -16.1%
0.26 0.31 0.19
Quality of profit
Pre-tax profit ₹6.5 Cr: core business ₹5.7 Cr, other income ₹0.8 Cr.
Core profit YoY: +16.4%
· reported profit +7.7%
Cash & debt
FY26 cash from operations ₹71.0 Cr:
306% of FY26 net profit of ₹23.2 Cr.
Borrowings ₹194 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹135 ₹138
+2.9% in line Net profit ₹5.9 ₹4.8
-19.0% below
M Cap ₹257 Cr
P/E 26.2
PEG 0.46
Profit +999% above its own trend Operating margin expanded 4703 bps YoY 39% 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
— +81.4%
50.8 28.0 3.9 Operating profit
from loss —
3.7 0.3 -1.5 OPM %
+4703 bps +621 bps
7.2% 1.0% -39.8% Other income
+135.7% +143.2%
2.3 0.9 1.0 Net profit
— +151.5%
4.9 1.9 0.2 PAT margin %
+340 bps +268 bps
9.6% 6.9% 6.2% EPS (₹)
— +150.8%
1.48 0.59 0.07
Quality of profit
Pre-tax profit ₹6.0 Cr: core business ₹3.6 Cr, other income ₹2.3 Cr.
Core profit YoY: from loss
Cash & debt
FY26 cash from operations −₹103 Cr:
-1048% of FY26 net profit of ₹9.8 Cr.
Borrowings ₹0.3 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹7.7 ₹50.8
+556.6% above Net profit ₹0.4 ₹4.9
+999.0% above
M Cap ₹257 Cr
P/E 17.5
PEG —
Profit +106% above its own trend Operating margin expanded 208 bps YoY Core business grew faster than reported profit (core profit +100%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+37.4% +14.1%
71.8 62.9 52.2 Operating profit
+78.9% +55.2%
6.4 4.2 3.6 OPM %
+208 bps +238 bps
9.0% 6.6% 6.9% Other income
to loss loss widened -1.2 -0.2 1.7 Net profit?
+3.6% +118.9%
3.5 1.6 3.4 PAT margin %
-159 bps +232 bps
4.8% 2.5% 6.4% EPS (₹)
+3.6% +118.5%
2.60 1.19 2.51
Quality of profit
Pre-tax profit ₹3.9 Cr: core business ₹5.5 Cr, other income −₹1.2 Cr.
Core profit YoY: +100.0%
· reported profit +3.6%
Cash & debt
FY26 cash from operations ₹15.0 Cr:
116% of FY26 net profit of ₹12.9 Cr.
Borrowings ₹4.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹45.6 ₹71.8
+57.5% above Net profit ₹1.7 ₹3.5
+106.4% above
M Cap ₹257 Cr
P/E 13.5
PEG —
Profit -70% below its own trend Operating margin contracted 525 bps YoY 97% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -99%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+42.0% +16.9%
163 139 114 Operating profit
-76.8% -77.9%
1.7 7.6 7.2 OPM %
-525 bps -442 bps
1.0% 5.4% 6.3% Other income
+23.8% +48.6%
2.9 2.0 2.4 Net profit
-65.5% -62.6%
2.2 5.9 6.4 PAT margin %
-426 bps -291 bps
1.4% 4.3% 5.6% EPS (₹)
-65.6% -63.8%
0.21 0.58 0.61
Quality of profit
Pre-tax profit ₹3.0 Cr: core business ₹0.1 Cr, other income ₹2.9 Cr.
Core profit YoY: -98.5%
· reported profit -65.5%
Against its own trend ?
Trend Actual Gap
Sales ₹121 ₹163
+34.8% above Net profit ₹7.4 ₹2.2
-69.8% below
M Cap ₹256 Cr
P/E 57.5
PEG —
Into loss: a profit a year ago Profit -256% below its own trend Operating margin contracted 988 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+30.7% +19.0%
452 380 346 Operating profit
to loss to loss -28.0 3.8 12.7 OPM %
-988 bps -719 bps
-6.2% 1.0% 3.7% Other income
+886.8% +345.1%
15.0 3.4 1.5 Net profit?
to loss to loss -13.0 0.7 11.7 PAT margin %
-625 bps -305 bps
-2.9% 0.2% 3.4% EPS (₹)
to loss to loss -2.65 0.13 2.35
Quality of profit
Pre-tax profit −₹20.0 Cr: core business −₹35.0 Cr, other income ₹15.0 Cr.
Core profit YoY: to loss
Cash & debt
FY26 cash from operations ₹7.0 Cr:
56% of FY26 net profit of ₹12.5 Cr.
Borrowings ₹105 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹321 ₹452
+40.6% above Net profit ₹8.3 −₹13.0
-256.4% below
M Cap ₹254 Cr
P/E 10.4
PEG 1.48
Profit -13% below its own trend Operating margin contracted 261 bps YoY FY26 operating cash flow was only 41% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+55.7% +47.4%
139 94.2 89.2 Operating profit
+22.3% +35.2%
13.3 9.8 10.8 OPM %
-261 bps -86 bps
9.5% 10.4% 12.2% Other income
-63.5% -65.6%
0.2 0.6 0.5 Net profit?
+19.9% +40.3%
8.8 6.3 7.3 PAT margin %
-189 bps -32 bps
6.3% 6.7% 8.2% EPS (₹)
+16.5% +33.0%
4.59 3.45 3.94
Quality of profit
Pre-tax profit ₹11.8 Cr: core business ₹11.7 Cr, other income ₹0.2 Cr.
Core profit YoY: +25.5%
· reported profit +19.9%
Cash & debt
FY26 cash from operations ₹10.0 Cr:
41% of FY26 net profit of ₹24.6 Cr.
Borrowings ₹21.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹103 ₹139
+34.4% above Net profit ₹10.1 ₹8.8
-12.6% below
M Cap ₹254 Cr
P/E 23.7
PEG —
Operating margin expanded 173 bps YoY Core business grew faster than reported profit (core profit +148%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+51.8% +67.8%
112 66.5 73.5 Operating profit
+109.6% +87.7%
7.0 3.7 3.4 OPM %
+173 bps +67 bps
6.3% 5.6% 4.6% Other income
-56.5% +400.0%
0.1 0.0 0.2 Net profit
+113.7% +117.2%
3.9 1.8 1.8 PAT margin %
+101 bps +80 bps
3.5% 2.7% 2.5% EPS (₹)
+111.9% +117.1%
0.89 0.41 0.42
Quality of profit
Pre-tax profit ₹5.3 Cr: core business ₹5.2 Cr, other income ₹0.1 Cr.
Core profit YoY: +148.1%
· reported profit +113.7%
Cash & debt
FY26 cash from operations ₹4.0 Cr:
55% of FY26 net profit of ₹7.3 Cr.
Borrowings ₹32.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹102 ₹112
+9.1% above Net profit ₹3.7 ₹3.9
+6.8% in line
M Cap ₹254 Cr
P/E 36.9
PEG 0.95
Operating margin contracted 376 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
-40.3% +2.5%
75.3 73.5 126 Operating profit
to loss to loss -0.1 2.0 4.6 OPM %
-376 bps -287 bps
-0.1% 2.8% 3.7% Other income
+100.0% +26.7%
3.1 2.4 1.6 Net profit?
-63.0% -57.5%
0.9 2.0 2.4 PAT margin %
-71 bps -163 bps
1.2% 2.8% 1.9% EPS (₹)
— —
0.06 0.82 0.19
No EPS growth against Dec 2025 and Mar 2025: ₹10 to ₹2 split in May 2026.
Quality of profit
Pre-tax profit ₹1.1 Cr: core business −₹2.0 Cr, other income ₹3.1 Cr.
Core profit YoY: to loss
· reported profit -63.0%
Cash & debt
FY26 cash from operations ₹39.0 Cr:
247% of FY26 net profit of ₹15.8 Cr.
Borrowings ₹90.0 Cr at Mar 2026.
M Cap ₹254 Cr
P/E 10.4
PEG 0.37
Profit +85% above its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Total income
+29.7% -28.9%
11.1 15.7 8.6 Net interest income
— -23.5%
3.3 4.3 — Other income
— -48.5%
2.8 5.5 — Net profit?
+270.9% -30.1%
5.2 7.5 1.4 EPS (₹)
+271.8% -30.1%
5.28 7.55 1.42
Against its own trend ?
Trend Actual Gap
Net profit ₹2.8 ₹5.2
+85.5% above
M Cap ₹253 Cr
P/E 21.4
PEG 0.30
Profit -55% below its own trend Operating margin contracted 255 bps YoY 54% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -55%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+13.6% +15.5%
54.6 47.3 48.1 Operating profit
-26.4% -74.8%
2.6 10.2 3.5 OPM %
-255 bps -1681 bps
4.7% 21.5% 7.2% Other income
— +642.1%
1.4 0.2 0.0 Net profit?
-27.5% -77.9%
1.5 6.9 2.1 PAT margin %
-159 bps -1183 bps
2.8% 14.6% 4.4% EPS (₹)
-19.0% -56.4%
0.17 0.39 0.21
Quality of profit
Pre-tax profit ₹2.6 Cr: core business ₹1.2 Cr, other income ₹1.4 Cr.
Core profit YoY: -55.0%
· reported profit -27.5%
Cash & debt
FY26 cash from operations ₹17.0 Cr:
146% of FY26 net profit of ₹11.6 Cr.
Borrowings ₹48.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹55.4 ₹54.6
-1.4% in line Net profit ₹3.4 ₹1.5
-55.5% below
Operating margin expanded 457 bps YoY
₹ Cr YoY vs prev. half
Mar 2026 Sep 2025 Mar 2025
Sales
+35.7% -26.8%
208 284 153 Operating profit
+86.3% -8.1%
35.0 38.1 18.8 OPM %
+457 bps +342 bps
16.8% 13.4% 12.3% Other income
-100.0% -100.0%
0.0 0.2 0.3 Net profit
+39.8% -33.1%
18.0 26.9 12.9 PAT margin %
+25 bps -83 bps
8.7% 9.5% 8.4% EPS (₹)
+42.6% -28.2%
18.17 25.32 12.74
Quality of profit
Pre-tax profit ₹26.0 Cr: core business ₹25.0 Cr, other income ₹0.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +43.7%
· reported profit +39.8%
Cash & debt
FY26 cash from operations −₹26.0 Cr.
Borrowings ₹142 Cr at Mar 2026.
M Cap ₹251 Cr
P/E 1932.3
PEG —
Operating margin expanded 1180 bps YoY Core business grew faster than reported profit (core profit +358%)
₹ Cr YoY vs prev. half
Mar 2026 Sep 2025 Mar 2025
Sales
+9.0% +66.4%
19.5 11.7 17.9 Operating profit
+150.3% from loss 4.1 -2.0 1.6 OPM %
+1180 bps +3770 bps
20.9% -16.8% 9.1% Other income
+400.0% +25.0%
0.1 0.0 0.0 Net profit
+232.3% from loss 2.2 -2.0 0.7 PAT margin %
+744 bps +2837 bps
11.1% -17.3% 3.6% EPS (₹)
+222.4% from loss 9.48 -9.18 2.94
Quality of profit
Pre-tax profit ₹3.1 Cr: core business ₹3.1 Cr, other income ₹0.1 Cr.
Core profit YoY: +358.2%
· reported profit +232.3%
Cash & debt
FY26 cash from operations −₹1.4 Cr.
Borrowings ₹6.6 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹16.8 ₹19.5
+16.0% above
M Cap ₹251 Cr
P/E 43.5
PEG —
Profit -84% below its own trend Operating margin contracted 576 bps YoY 42% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +211%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+364.5% +423.2%
35.2 6.7 7.6 Operating profit
+202.4% from loss 3.8 -4.6 1.2 OPM %
-576 bps +7953 bps
10.7% -68.8% 16.5% Other income
-64.2% +45.1%
2.7 1.8 7.5 Net profit?
-68.8% from loss 4.0 -2.9 12.7 PAT margin %
— +5478 bps
11.2% -43.5% — EPS (₹)
-82.1% from loss 0.07 -0.06 0.39
Quality of profit
Pre-tax profit ₹6.4 Cr: core business ₹3.7 Cr, other income ₹2.7 Cr.
Core profit YoY: +210.8%
· reported profit -68.8%
Cash & debt
Borrowings nil at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹6.0 ₹35.2
+488.1% above Net profit ₹25.4 ₹4.0
-84.4% below
Operating margin contracted 256 bps YoY All of pre-tax profit came from other income or one-off items
₹ Cr YoY
Mar 2026 Mar 2025
Sales
-63.8%
41.3 114 Operating profit
to loss -0.9 0.6 OPM %
-256 bps
-2.1% 0.5% Other income
from loss 1.6 -1.2 Net profit
loss narrowed -0.1 -0.7 PAT margin %
+43 bps
-0.2% -0.6% EPS (₹)
loss narrowed -0.05 -0.44
Quality of profit
Pre-tax profit ₹0.4 Cr: core business −₹1.3 Cr, other income ₹1.6 Cr.
Core profit YoY: to loss
Cash & debt
FY26 cash from operations ₹12.6 Cr.
Borrowings nil at Mar 2026.
M Cap ₹248 Cr
P/E 41.3
PEG —
Operating margin contracted 185 bps YoY All of pre-tax profit came from other income or one-off items
₹ Cr YoY vs prev. half
Mar 2026 Sep 2025 Mar 2025
Sales
-8.6% -9.3%
98.0 108 107 Operating profit
-67.5% -85.7%
1.0 7.0 3.1 OPM %
-185 bps -546 bps
1.0% 6.5% 2.9% Other income
+19.8% +0.0%
3.0 3.0 2.5 Net profit?
-57.0% -80.0%
1.0 5.0 2.3 PAT margin %
-115 bps -361 bps
1.0% 4.6% 2.2% EPS (₹)
-55.9% -78.9%
0.97 4.59 2.20
Quality of profit
Pre-tax profit ₹1.0 Cr: core business −₹2.0 Cr, other income ₹3.0 Cr.
Core profit YoY: to loss
· reported profit -57.0%
Cash & debt
FY26 cash from operations ₹30.0 Cr.
Borrowings ₹22.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹114 ₹98.0
-13.9% below
M Cap ₹247 Cr
P/E 0.8
PEG 0.03
Profit -15% below its own trend Operating margin expanded 502 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
-20.1% +28.2%
64.8 50.6 81.2 Operating profit
from loss —
1.7 0.1 -2.0 OPM %
+502 bps +237 bps
2.6% 0.2% -2.4% Other income
-82.8% -34.4%
1.5 2.2 8.5 Net profit
-11.1% +486.7%
0.9 0.1 1.0 PAT margin %
+14 bps +106 bps
1.4% 0.3% 1.2% EPS (₹)
+0.0% —
0.02 0.00 0.02
Quality of profit
Pre-tax profit ₹0.9 Cr: core business −₹0.6 Cr, other income ₹1.5 Cr.
Core profit YoY: loss narrowed
· reported profit -11.1%
Cash & debt
FY26 cash from operations −₹30.0 Cr:
-391% of FY26 net profit of ₹7.7 Cr.
Borrowings ₹55.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹76.7 ₹64.8
-15.4% below Net profit ₹1.0 ₹0.9
-14.7% below
Operating margin expanded 174 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+20.7% -2.3%
118 120 97.5 Operating profit
+196.1% from loss 3.5 -6.7 1.2 OPM %
+174 bps +851 bps
2.9% -5.6% 1.2% Other income
+51.0% +36.7%
7.2 5.3 4.8 Net profit?
loss narrowed loss narrowed -10.4 -17.2 -15.7 PAT margin %
+730 bps +541 bps
-8.8% -14.2% -16.1% EPS (₹)
loss narrowed loss narrowed -1.92 -3.08 -2.91
Quality of profit
Pre-tax profit −₹5.7 Cr: core business −₹13.5 Cr, other income ₹7.2 Cr, exceptional & other items ₹0.5 Cr.
Core profit YoY: loss widened
Cash & debt
FY26 cash from operations ₹79.0 Cr.
Borrowings ₹273 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹157 ₹118
-24.9% below
M Cap ₹246 Cr
P/E 7.8
PEG 7.81
Profit +74% above its own trend Operating margin expanded 313 bps YoY Core business grew faster than reported profit (core profit +157%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+10.1% +13.4%
164 145 149 Operating profit
+76.3% +58.4%
13.7 8.7 7.8 OPM %
+313 bps +236 bps
8.3% 6.0% 5.2% Other income
+19.1% +49.3%
1.1 0.8 0.9 Net profit
+131.3% +91.4%
8.9 4.6 3.8 PAT margin %
+282 bps +219 bps
5.4% 3.2% 2.6% EPS (₹)
+131.3% +91.5%
8.58 4.48 3.71
Quality of profit
Pre-tax profit ₹12.0 Cr: core business ₹10.8 Cr, other income ₹1.1 Cr.
Core profit YoY: +157.5%
· reported profit +131.3%
Cash & debt
FY26 cash from operations ₹53.0 Cr:
284% of FY26 net profit of ₹18.7 Cr.
Borrowings ₹65.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹162 ₹164
+1.4% in line Net profit ₹5.1 ₹8.9
+73.9% above
M Cap ₹246 Cr
P/E 12.6
PEG —
Profit -18% below its own trend Core business grew faster than reported profit (core profit +28%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+7.0% +1.4%
76.1 75.1 71.2 Operating profit
+7.5% +10.0%
9.0 8.2 8.4 OPM %
+6 bps +93 bps
11.9% 10.9% 11.8% Other income
-96.7% -75.0%
0.1 0.2 1.5 Net profit?
-12.4% +11.8%
4.6 4.1 5.2 PAT margin %
-132 bps +56 bps
6.0% 5.4% 7.3% EPS (₹)
-30.9% +8.4%
2.19 2.02 3.17
Quality of profit
Pre-tax profit ₹7.0 Cr: core business ₹7.0 Cr, other income ₹0.1 Cr.
Core profit YoY: +28.2%
· reported profit -12.4%
Against its own trend ?
Trend Actual Gap
Sales ₹96.4 ₹76.1
-21.0% below Net profit ₹5.6 ₹4.6
-18.3% below
M Cap ₹246 Cr
P/E 15.2
PEG —
Profit +48% above its own trend
₹ Cr YoY vs prev. half
Mar 2026 Sep 2025 Mar 2025
Sales
+62.5% +26.0%
96.0 76.2 59.1 Operating profit
+67.3% +20.1%
16.0 13.3 9.6 OPM %
+48 bps -83 bps
16.7% 17.5% 16.2% Other income
— —
1.0 0.0 0.1 Net profit
+87.2% +26.3%
9.0 7.1 4.8 PAT margin %
+124 bps +2 bps
9.4% 9.4% 8.1% EPS (₹)
+70.7% +27.0%
10.55 8.31 6.18
Quality of profit
Pre-tax profit ₹13.0 Cr: core business ₹12.0 Cr, other income ₹1.0 Cr.
Core profit YoY: +66.9%
· reported profit +87.2%
Cash & debt
FY26 cash from operations −₹14.0 Cr.
Borrowings ₹34.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹79.5 ₹96.0
+20.8% above Net profit ₹6.1 ₹9.0
+47.5% above
Operating margin expanded 106 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+5.8% -13.3%
436 503 412 Operating profit
loss narrowed to loss -7.0 7.0 -11.0 OPM %
+106 bps -300 bps
-1.6% 1.4% -2.7% Other income
-18.2% +800.0%
9.0 1.0 11.0 Net profit?
loss narrowed loss widened -66.0 -58.0 -68.0 PAT margin %
+137 bps -361 bps
-15.1% -11.5% -16.5% EPS (₹)
loss narrowed loss widened -7.28 -6.47 -7.59
Quality of profit
Pre-tax profit −₹66.0 Cr: core business −₹75.0 Cr, other income ₹9.0 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY26 cash from operations −₹60.0 Cr.
Borrowings ₹1,919 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹333 ₹436
+30.8% above
Into loss: a profit a year ago Operating margin contracted 4296 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-48.2% +21.6%
9.3 7.6 17.9 Operating profit
to loss loss widened -3.1 -2.9 1.7 OPM %
-4296 bps +390 bps
-33.5% -37.4% 9.4% Other income
-1.3% +73.2%
0.9 0.5 0.9 Net profit?
to loss loss narrowed -2.4 -3.4 1.3 PAT margin %
-3304 bps +1849 bps
-26.0% -44.5% 7.0% EPS (₹)
to loss loss narrowed -2.40 -3.48 1.29
Quality of profit
Pre-tax profit −₹3.3 Cr: core business −₹4.2 Cr, other income ₹0.9 Cr.
Core profit YoY: to loss
Cash & debt
FY26 cash from operations −₹11.0 Cr.
Borrowings ₹8.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹9.0 ₹9.3
+3.6% in line
M Cap ₹244 Cr
P/E 11.7
PEG —
Profit -89% below its own trend Operating margin contracted 781 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
+37.9% +21.8%
138 113 99.8 Operating profit
-50.3% -45.0%
6.0 11.0 12.2 OPM %
-781 bps -534 bps
4.4% 9.7% 12.2% Other income
+4.3% -41.7%
3.1 5.3 3.0 Net profit?
-85.3% -86.5%
1.1 8.3 7.6 PAT margin %
-681 bps -652 bps
0.8% 7.3% 7.6% EPS (₹)
— -87.1%
0.04 0.31 0.67
No EPS growth against Mar 2025: 1:2 bonus in Apr 2026 and ₹2 to ₹1 split in Apr 2026.
Quality of profit
Pre-tax profit ₹1.3 Cr: core business −₹1.8 Cr, other income ₹3.1 Cr.
Core profit YoY: to loss
· reported profit -85.3%
Against its own trend ?
Trend Actual Gap
Sales ₹119 ₹138
+15.3% above Net profit ₹9.8 ₹1.1
-88.5% below
M Cap ₹244 Cr
P/E 7.6
PEG 0.13
Turnaround: profit against a loss a year ago Operating margin expanded 212 bps YoY 91% 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
+106.7% +7.3%
325 303 157 Operating profit
+260.3% -5.7%
16.1 17.1 4.5 OPM %
+212 bps -68 bps
5.0% 5.7% 2.9% Other income
+166.5% +115.1%
11.8 5.5 4.4 Net profit?
from loss +39.6%
9.9 7.1 -1.0 PAT margin %
+371 bps +71 bps
3.0% 2.3% -0.7% EPS (₹)
from loss +39.6%
1.48 1.06 -0.15
Quality of profit
Pre-tax profit ₹12.9 Cr: core business ₹1.1 Cr, other income ₹11.8 Cr.
Core profit YoY: from loss
Cash & debt
FY26 cash from operations −₹20.0 Cr:
-76% of FY26 net profit of ₹26.4 Cr.
Borrowings ₹481 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹214 ₹325
+51.4% above
M Cap ₹243 Cr
P/E 17.9
PEG —
Profit -20% below its own trend Operating margin contracted 1255 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+155.1% +47.3%
37.3 25.3 14.6 Operating profit
+35.1% +28.2%
5.3 4.1 3.9 OPM %
-1255 bps -211 bps
14.1% 16.2% 26.7% Other income
+110.7% -7.8%
0.6 0.6 0.3 Net profit?
+42.2% +31.8%
4.3 3.3 3.1 PAT margin %
-927 bps -137 bps
11.7% 13.0% 20.9% EPS (₹)
+41.7% +31.7%
3.16 2.40 2.23
Quality of profit
Pre-tax profit ₹5.4 Cr: core business ₹4.8 Cr, other income ₹0.6 Cr.
Core profit YoY: +24.4%
· reported profit +42.2%
Cash & debt
FY26 cash from operations ₹8.0 Cr:
57% of FY26 net profit of ₹14.1 Cr.
Borrowings ₹43.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹22.0 ₹37.3
+69.5% above Net profit ₹5.5 ₹4.3
-20.2% below
M Cap ₹243 Cr
P/E 8.6
PEG 0.24
Profit +59% above its own trend Operating margin contracted 806 bps YoY 59% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -19%) Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-3.8% +41.4%
41.0 29.0 42.6 Operating profit
-29.6% +125.0%
9.0 4.0 12.8 OPM %
-806 bps +816 bps
22.0% 13.8% 30.0% Other income
+635.8% +150.0%
10.0 4.0 1.4 Net profit?
+60.1% +140.0%
12.0 5.0 7.5 PAT margin %
+1167 bps +1203 bps
29.3% 17.2% 17.6% EPS (₹)
+29.6% +112.1%
1.40 0.66 1.08
Quality of profit
Pre-tax profit ₹17.0 Cr: core business ₹7.0 Cr, other income ₹10.0 Cr.
Core profit YoY: -19.2%
· reported profit +60.1%
Cash & debt
FY26 cash from operations −₹42.0 Cr:
-144% of FY26 net profit of ₹29.2 Cr.
Borrowings ₹102 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹57.3 ₹41.0
-28.5% below Net profit ₹7.5 ₹12.0
+59.4% above
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+15.5% +41.2%
143 101 124 Operating profit
+6.0% +7.3%
15.2 14.1 14.3 OPM %
-95 bps -334 bps
10.6% 13.9% 11.5% Other income
+44.0% +98.5%
1.3 0.7 0.9 Net profit?
-8.0% -11.7%
5.8 6.5 6.3 PAT margin %
-103 bps -241 bps
4.0% 6.4% 5.1% EPS (₹)
-34.2% -11.9%
0.96 1.09 1.46
Quality of profit
Pre-tax profit ₹8.0 Cr: core business ₹6.7 Cr, other income ₹1.3 Cr.
Core profit YoY: -26.5%
· reported profit -8.0%
Into loss: a profit a year ago Operating margin contracted 944 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-17.7% -4.0%
93.1 97.0 113 Operating profit
to loss to loss -2.5 0.3 7.6 OPM %
-944 bps -303 bps
-2.7% 0.3% 6.7% Other income
-26.7% -8.6%
0.7 0.8 1.0 Net profit?
to loss loss widened -3.8 -1.5 4.4 PAT margin %
-802 bps -258 bps
-4.1% -1.5% 3.9% EPS (₹)
to loss loss widened -0.44 -0.17 0.44
Quality of profit
Pre-tax profit −₹4.5 Cr: core business −₹5.3 Cr, other income ₹0.7 Cr.
Core profit YoY: to loss
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, 11:34 IST
