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: 46 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
Page 67 of 171
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Into loss: a profit a year ago
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+9.9% -39.7%
178 295 162 Operating profit
loss widened to loss -27.0 12.0 -23.0 OPM %
-97 bps -1924 bps
-15.2% 4.1% -14.2% Other income
-91.4% —
6.0 0.0 70.0 Net profit?
to loss loss widened -34.0 -2.0 31.0 PAT margin %
-3824 bps -1842 bps
-19.1% -0.7% 19.1% EPS (₹)
to loss loss widened -11.83 -0.52 10.89
Quality of profit
Pre-tax profit −₹23.7 Cr: core business −₹82.1 Cr, other income ₹6.0 Cr, exceptional & other items ₹52.4 Cr.
Core profit YoY: loss widened
Cash & debt
FY26 cash from operations −₹46.0 Cr.
Borrowings ₹419 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹190 ₹178
-6.4% below
M Cap ₹241 Cr
P/E 85.7
PEG 2.09
Operating margin expanded 1221 bps YoY 37% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+203.9% +80.2%
26.8 14.9 8.8 Operating profit
+592.9% from loss 5.8 -0.4 0.8 OPM %
+1221 bps +2439 bps
21.7% -2.6% 9.5% Other income
+8.4% -4.8%
2.2 2.3 2.0 Net profit?
— from loss 5.4 -2.0 0.0 PAT margin %
+2006 bps +3344 bps
20.2% -13.3% 0.1% EPS (₹)
— from loss 0.03 -0.01 0.00
Quality of profit
Pre-tax profit ₹6.0 Cr: core business ₹3.8 Cr, other income ₹2.2 Cr.
Core profit YoY: from loss
Cash & debt
FY26 cash from operations ₹32.1 Cr:
1230% of FY26 net profit of ₹2.6 Cr.
Borrowings nil at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹8.0 ₹26.8
+233.4% above
Into loss: a profit a year ago Profit -128% below its own trend Operating margin contracted 500 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-1.3% +22.6%
113 91.8 114 Operating profit
-56.4% +617.7%
4.5 0.6 10.2 OPM %
-500 bps +328 bps
4.0% 0.7% 8.9% Other income
to loss to loss -5.6 11.8 1.1 Net profit
to loss to loss -1.3 8.2 5.0 PAT margin %
-554 bps -1010 bps
-1.1% 9.0% 4.4% EPS (₹)
to loss to loss -0.83 5.27 3.21
Quality of profit
Pre-tax profit −₹3.5 Cr: core business ₹2.1 Cr, other income −₹5.6 Cr.
Core profit YoY: -72.9%
Cash & debt
FY26 cash from operations ₹29.0 Cr:
89% of FY26 net profit of ₹32.8 Cr.
Borrowings ₹4.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹107 ₹113
+4.8% in line Net profit ₹4.6 −₹1.3
-128.3% below
M Cap ₹241 Cr
P/E 29.4
PEG 2.10
Operating margin contracted 108 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
+85.9% -1.2%
264 267 142 Operating profit
to loss to loss -1.0 6.3 1.0 OPM %
-108 bps -275 bps
-0.4% 2.4% 0.7% Other income
-26.3% +11.7%
14.0 12.5 19.0 Net profit?
-57.1% -42.0%
3.0 5.2 7.0 PAT margin %
-379 bps -80 bps
1.1% 1.9% 4.9% EPS (₹)
-55.0% +22.7%
adj. 0.14adj. 0.110.30
EPS restated for the 1:1 bonus of Jul 2025: Mar 2026 ₹0.27 to ₹0.14; Sep 2025 ₹0.22 to ₹0.11.
Quality of profit
Pre-tax profit ₹4.0 Cr: core business −₹10.0 Cr, other income ₹14.0 Cr.
Core profit YoY: —
· reported profit -57.1%
Cash & debt
FY26 cash from operations ₹32.0 Cr.
Borrowings ₹134 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹284 ₹264
-7.0% below
Operating margin expanded 268 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+0.9% +13.5%
109 96.0 108 Operating profit
+37.5% +120.0%
11.0 5.0 8.0 OPM %
+268 bps +488 bps
10.1% 5.2% 7.4% Other income
-100.0% loss narrowed 0.0 -1.0 1.0 Net profit
loss widened loss widened -27.0 -25.0 -15.0 PAT margin %
-1088 bps +127 bps
-24.8% -26.0% -13.9% EPS (₹)
loss widened loss widened -2.03 -1.87 -1.12
Quality of profit
Pre-tax profit −₹22.0 Cr: core business −₹22.0 Cr, other income ₹0.0 Cr.
Core profit YoY: loss widened
Cash & debt
FY26 cash from operations ₹5.0 Cr.
Borrowings ₹403 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹92.9 ₹109
+17.3% above
M Cap ₹239 Cr
P/E 215.3
PEG —
Operating margin expanded 423 bps YoY
₹ Cr YoY vs prev. half
Mar 2026 Sep 2025 Mar 2025
Sales
+102.9% +87.2%
71.0 37.9 35.0 Operating profit
— from loss 3.0 -0.3 0.0 OPM %
+423 bps +501 bps
4.2% -0.8% 0.0% Other income
-100.0% -100.0%
0.0 2.1 1.0 Net profit
— +385.0%
1.0 0.2 0.0 PAT margin %
+141 bps +86 bps
1.4% 0.5% 0.0% EPS (₹)
+51.2% +169.6%
0.62 0.23 0.41
Quality of profit
Pre-tax profit ₹1.0 Cr: core business ₹1.0 Cr, other income ₹0.0 Cr.
Core profit YoY: from loss
Cash & debt
FY26 cash from operations −₹16.0 Cr.
Borrowings ₹8.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹39.8 ₹71.0
+78.4% above
M Cap ₹238 Cr
P/E 9.7
PEG 0.30
Profit -46% below its own trend Operating margin contracted 1408 bps YoY 41% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-0.5% -2.7%
34.8 35.7 34.9 Operating profit
-53.8% -40.4%
4.2 7.1 9.2 OPM %
-1408 bps -774 bps
12.2% 19.9% 26.3% Other income
-37.4% +58.1%
2.6 1.7 4.2 Net profit?
-42.1% -5.3%
5.8 6.2 10.1 PAT margin %
-1208 bps -48 bps
16.8% 17.3% 28.9% EPS (₹)
-42.0% -5.2%
2.90 3.06 5.00
Quality of profit
Pre-tax profit ₹6.5 Cr: core business ₹3.9 Cr, other income ₹2.6 Cr.
Core profit YoY: -56.6%
· reported profit -42.1%
Cash & debt
FY26 cash from operations ₹17.0 Cr:
66% of FY26 net profit of ₹25.7 Cr.
Borrowings ₹1.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹35.3 ₹34.8
-1.5% in line Net profit ₹10.7 ₹5.8
-45.6% below
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Total income
+36.8% -44.7%
78.0 141 57.0 Net interest income
— —
32.0 — — Other income
— —
40.0 — — Net profit?
loss widened loss widened -41.0 -11.0 -13.0 EPS (₹)
loss widened loss widened -267.50 -79.30 -53.60
M Cap ₹237 Cr
P/E 12.9
PEG —
Profit +77% above its own trend Operating margin expanded 130 bps YoY Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+30.5% +53.9%
139 90.5 107 Operating profit
+78.3% +153.7%
6.8 2.7 3.8 OPM %
+130 bps +191 bps
4.9% 2.9% 3.6% Other income
— —
0.0 0.0 0.0 Net profit
+90.8% +130.3%
4.8 2.1 2.5 PAT margin %
+109 bps +114 bps
3.4% 2.3% 2.4% EPS (₹)
+92.3% +127.3%
0.75 0.33 0.39
Quality of profit
Pre-tax profit ₹6.5 Cr: core business ₹6.5 Cr, other income ₹0.0 Cr.
Core profit YoY: +84.5%
· reported profit +90.8%
Cash & debt
FY26 cash from operations −₹7.0 Cr:
-52% of FY26 net profit of ₹13.5 Cr.
Borrowings ₹25.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹130 ₹139
+7.3% above Net profit ₹2.7 ₹4.8
+77.2% above
M Cap ₹237 Cr
P/E 22.2
PEG —
Profit +190% above its own trend Core business grew faster than reported profit (core profit +158%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-2.3% +96.6%
715 363 732 Operating profit
+49.4% from loss 7.8 -0.4 5.2 OPM %
+38 bps +119 bps
1.1% -0.1% 0.7% Other income
-46.1% -46.3%
1.4 2.6 2.6 Net profit?
+44.9% +968.9%
6.5 0.6 4.5 PAT margin %
+30 bps +74 bps
0.9% 0.2% 0.6% EPS (₹)
+33.3% —
0.04 0.00 0.03
Quality of profit
Pre-tax profit ₹8.2 Cr: core business ₹6.8 Cr, other income ₹1.4 Cr.
Core profit YoY: +158.1%
· reported profit +44.9%
Cash & debt
FY26 cash from operations ₹269 Cr:
2828% of FY26 net profit of ₹9.5 Cr.
Borrowings ₹9.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹553 ₹715
+29.3% above Net profit ₹2.2 ₹6.5
+189.9% above
Into loss: a profit a year ago Profit -451% below its own trend Operating margin contracted 5520 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-28.5% -2.5%
19.4 19.9 27.1 Operating profit
to loss to loss -6.2 6.7 6.2 OPM %
-5520 bps -6587 bps
-32.2% 33.7% 23.0% Other income
-37.8% +8.8%
4.1 3.7 6.5 Net profit?
to loss to loss -6.9 5.7 3.5 PAT margin %
-4862 bps -6450 bps
-35.6% 28.9% 13.0% EPS (₹)
to loss to loss -6.28 5.22 3.20
Quality of profit
Pre-tax profit −₹7.0 Cr: core business −₹11.0 Cr, other income ₹4.1 Cr.
Core profit YoY: to loss
Cash & debt
FY26 cash from operations −₹0.1 Cr.
Borrowings ₹130 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹18.9 ₹19.4
+2.4% in line Net profit ₹2.0 −₹6.9
-451.0% below
M Cap ₹235 Cr
P/E 11.2
PEG 0.36
Operating margin expanded 334 bps YoY 91% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-6.2% +4.5%
258 247 275 Operating profit
+80.0% -5.3%
18.0 19.0 10.0 OPM %
+334 bps -72 bps
7.0% 7.7% 3.6% Other income
+42.9% +150.0%
10.0 4.0 7.0 Net profit
— +160.0%
13.0 5.0 0.0 PAT margin %
+504 bps +301 bps
5.0% 2.0% 0.0% EPS (₹)
from loss +150.8%
3.21 1.28 -0.06
Quality of profit
Pre-tax profit ₹11.0 Cr: core business ₹1.0 Cr, other income ₹10.0 Cr.
Core profit YoY: from loss
Cash & debt
FY26 cash from operations ₹90.0 Cr:
4500% of FY26 net profit of ₹2.0 Cr.
Borrowings ₹374 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹263 ₹258
-1.8% in line
M Cap ₹235 Cr
P/E 1574.0
PEG —
Into loss: a profit a year ago Profit -207% below its own trend Operating margin expanded 500 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+18.2% +0.4%
13.6 13.5 11.5 Operating profit
from loss -26.9%
0.5 0.7 -0.2 OPM %
+500 bps -132 bps
3.5% 4.8% -1.5% Other income
-9.6% +99.6%
0.5 0.2 0.5 Net profit
to loss loss widened -0.3 -0.3 0.2 PAT margin %
-452 bps -43 bps
-2.4% -1.9% 2.2% EPS (₹)
to loss loss widened -0.15 -0.13 0.12
Quality of profit
Pre-tax profit −₹0.5 Cr: core business −₹1.0 Cr, other income ₹0.5 Cr.
Core profit YoY: to loss
Cash & debt
FY26 cash from operations ₹3.0 Cr:
3808% of FY26 net profit of ₹0.1 Cr.
Borrowings ₹15.8 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹12.1 ₹13.6
+12.3% above Net profit ₹0.3 −₹0.3
-206.7% below
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-6.9% +28.6%
81.0 63.0 87.0 Operating profit
to loss loss widened -105 -32.0 2.0 Other income
loss widened loss widened -2,957 -2,689 -2,458 Net profit?
loss widened loss widened -3,097 -2,767 -2,502 EPS (₹)
loss widened loss widened -11.20 -10.01 -9.05
Quality of profit
Pre-tax profit −₹3,099 Cr: core business −₹142 Cr, other income −₹2,957 Cr.
Core profit YoY: loss widened
Cash & debt
FY26 cash from operations −₹14.0 Cr.
Borrowings ₹47,212 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹78.4 ₹81.0
+3.4% in line
M Cap ₹235 Cr
P/E 11.8
PEG —
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+16.1% -1.3%
11.0 11.1 9.4 Other income
— -75.0%
0.0 0.0 0.0 Net profit
+15.8% +2.0%
5.1 5.0 4.4 PAT margin %
-11 bps +153 bps
46.8% 45.2% 46.9% EPS (₹)
+16.1% +1.8%
1.66 1.63 1.43
M Cap ₹233 Cr
P/E 35.3
PEG —
Profit -59% below its own trend Operating margin contracted 1123 bps YoY 46% 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
-13.9% +147.7%
28.4 11.4 32.9 Operating profit
-50.2% +9.4%
4.4 4.0 8.8 OPM %
-1123 bps -1949 bps
15.4% 34.9% 26.6% Other income
+25.3% +1.3%
1.0 1.0 0.8 Net profit?
-71.8% +23.8%
1.3 1.1 4.7 PAT margin %
-950 bps -463 bps
4.6% 9.2% 14.1% EPS (₹)
-76.0% +0.0%
0.25 0.25 1.04
Quality of profit
Pre-tax profit ₹2.2 Cr: core business ₹1.2 Cr, other income ₹1.0 Cr.
Core profit YoY: -80.4%
· reported profit -71.8%
Cash & debt
FY26 cash from operations −₹46.9 Cr:
-782% of FY26 net profit of ₹6.0 Cr.
Borrowings ₹118 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹16.5 ₹28.4
+72.2% above Net profit ₹3.2 ₹1.3
-58.7% below
M Cap ₹233 Cr
P/E 4.9
PEG 0.05
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-92.9% -100.0%
0.0 20.0 0.1 Operating profit
loss widened to loss -4.2 16.2 -1.9 Other income
+9.8% -25.5%
1.5 2.0 1.3 Net profit?
loss widened to loss -2.9 12.5 -0.9 EPS (₹)
loss widened to loss -0.48 2.04 -0.15
Quality of profit
Pre-tax profit −₹3.6 Cr: core business −₹5.1 Cr, other income ₹1.5 Cr.
Core profit YoY: loss widened
Cash & debt
FY26 cash from operations ₹36.0 Cr:
74% of FY26 net profit of ₹48.9 Cr.
Borrowings nil at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹0.3 ₹0.0
-96.4% below
Operating margin contracted 1485 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+10.4% -1.4%
107 109 97.0 Operating profit
loss widened loss widened -18.1 -7.0 -2.0 OPM %
-1485 bps -1047 bps
-16.9% -6.4% -2.1% Other income
-48.1% -22.1%
1.6 2.0 3.0 Net profit?
— loss widened -21.0 -7.9 0.0 PAT margin %
-1960 bps -1238 bps
-19.6% -7.2% 0.0% EPS (₹)
to loss loss widened -27.87 -10.46 0.11
Quality of profit
Pre-tax profit −₹20.5 Cr: core business −₹22.0 Cr, other income ₹1.6 Cr.
Core profit YoY: loss widened
Cash & debt
FY26 cash from operations ₹40.0 Cr.
Borrowings ₹34.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹71.0 ₹107
+50.8% above
M Cap ₹231 Cr
P/E 7.4
PEG 0.18
₹ Cr YoY vs prev. half
Mar 2026 Sep 2025 Mar 2025
Sales
+46.6% +17.8%
447 380 305 Operating profit
+51.5% +14.4%
50.0 43.7 33.0 OPM %
+37 bps -33 bps
11.2% 11.5% 10.8% Other income
-50.0% -35.8%
2.0 3.1 4.0 Net profit?
+30.8% +20.5%
17.0 14.1 13.0 PAT margin %
-46 bps +8 bps
3.8% 3.7% 4.3% EPS (₹)
+31.6% +21.6%
7.21 5.93 5.48
Quality of profit
Pre-tax profit ₹19.0 Cr: core business ₹17.0 Cr, other income ₹2.0 Cr.
Core profit YoY: +21.4%
· reported profit +30.8%
Cash & debt
FY26 cash from operations ₹52.0 Cr.
Borrowings ₹147 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹448 ₹447
-0.2% in line Net profit ₹16.2 ₹17.0
+4.8% in line
M Cap ₹225 Cr
P/E 13.3
PEG —
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+12.1% +19.3%
241 202 215 Operating profit
-1.3% -31.7%
11.7 17.2 11.9 OPM %
-66 bps -363 bps
4.9% 8.5% 5.5% Other income
-71.8% -36.8%
0.2 0.4 0.8 Net profit
-36.7% -71.5%
2.3 8.0 3.6 PAT margin %
-73 bps -303 bps
0.9% 4.0% 1.7% EPS (₹)
-56.2% -71.6%
0.46 1.62 1.05
Quality of profit
Pre-tax profit ₹3.2 Cr: core business ₹3.0 Cr, other income ₹0.2 Cr.
Core profit YoY: -26.0%
· reported profit -36.7%
M Cap ₹225 Cr
P/E 9.4
PEG 0.16
Turnaround: profit against a loss a year ago Operating margin expanded 132 bps YoY 48% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+43.2% +1.4%
133 131 93.0 Operating profit
+59.4% -15.7%
17.2 20.5 10.8 OPM %
+132 bps -263 bps
12.9% 15.6% 11.6% Other income
-3.4% +7.9%
3.1 2.9 3.3 Net profit?
from loss -29.9%
4.5 6.4 -0.7 PAT margin %
+413 bps -150 bps
3.4% 4.9% -0.8% EPS (₹)
from loss -30.3%
1.15 1.65 -0.18
Quality of profit
Pre-tax profit ₹6.6 Cr: core business ₹3.5 Cr, other income ₹3.1 Cr.
Core profit YoY: from loss
Cash & debt
FY26 cash from operations ₹58.0 Cr:
233% of FY26 net profit of ₹24.9 Cr.
Borrowings ₹94.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹96.8 ₹133
+37.6% above
M Cap ₹225 Cr
P/E 14.9
PEG —
Profit +200% above its own trend Operating margin expanded 652 bps YoY Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+2.3% +104.8%
66.0 32.2 64.5 Operating profit
+32.3% —
19.0 0.0 14.4 OPM %
+652 bps +2866 bps
28.8% 0.1% 22.3% Other income
-70.7% -69.6%
1.0 3.3 3.4 Net profit?
+49.9% from loss 14.0 -1.4 9.3 PAT margin %
+673 bps +2556 bps
21.2% -4.3% 14.5% EPS (₹)
+52.6% from loss 46.46 -4.56 30.44
Quality of profit
Pre-tax profit ₹17.0 Cr: core business ₹16.0 Cr, other income ₹1.0 Cr.
Core profit YoY: +48.6%
· reported profit +49.9%
Cash & debt
FY26 cash from operations −₹30.0 Cr:
-221% of FY26 net profit of ₹13.6 Cr.
Borrowings ₹68.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹43.8 ₹66.0
+50.6% above Net profit ₹4.7 ₹14.0
+199.8% above
M Cap ₹224 Cr
P/E 8.3
PEG 0.27
Operating margin expanded 373 bps YoY 68% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +41%) Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-6.2% +139.0%
302 126 322 Operating profit
+11.8% from loss 70.0 -10.7 62.6 OPM %
+373 bps +3162 bps
23.2% -8.4% 19.4% Other income
+61.7% —
80.0 1.2 49.5 Net profit
+16.1% from loss 86.0 -34.2 74.1 PAT margin %
+545 bps +5555 bps
28.5% -27.1% 23.0% EPS (₹)
+16.9% from loss 7.28 -2.88 6.23
Quality of profit
Pre-tax profit ₹117 Cr: core business ₹38.0 Cr, other income ₹80.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +41.4%
· reported profit +16.1%
Cash & debt
FY26 cash from operations −₹4.0 Cr:
-14% of FY26 net profit of ₹27.7 Cr.
Borrowings ₹720 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹319 ₹302
-5.3% below
M Cap ₹223 Cr
P/E 39.2
PEG —
Operating margin expanded 985 bps YoY Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-19.1% +21.2%
13.4 11.0 16.5 Operating profit
+32.4% +83.5%
3.4 1.8 2.6 OPM %
+985 bps +860 bps
25.3% 16.7% 15.5% Other income
+50.0% —
0.0 0.0 0.0 Net profit?
+9.2% +49.9%
1.9 1.3 1.7 PAT margin %
+367 bps +271 bps
14.2% 11.5% 10.5% EPS (₹)
-18.1% -1.7%
0.59 0.60 0.72
Quality of profit
Pre-tax profit ₹2.8 Cr: core business ₹2.7 Cr, other income ₹0.0 Cr.
Core profit YoY: +13.3%
· reported profit +9.2%
Cash & debt
FY26 cash from operations −₹67.5 Cr:
-1185% of FY26 net profit of ₹5.7 Cr.
Borrowings ₹20.2 Cr at Mar 2026.
M Cap ₹223 Cr
P/E 204.9
PEG —
Into loss: a profit a year ago
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+59.2% +14.7%
1.6 1.4 1.0 Other income
-100.0% —
0.0 0.0 0.2 Net profit
to loss to loss -0.7 0.2 0.7 PAT margin %
-11770 bps -5673 bps
-44.2% 12.5% 73.5% EPS (₹)
to loss to loss -0.77 0.19 0.80
Turnaround: profit against a loss a year ago All of pre-tax profit came from other income or one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+25.0% +74.2%
169 97.0 135 Operating profit
loss widened loss narrowed -26.0 -30.0 -19.6 OPM %
-90 bps +1554 bps
-15.4% -30.9% -14.5% Other income
+208.2% —
65.0 1.0 21.1 Net profit?
from loss from loss 42.0 -29.0 -2.8 PAT margin %
+2694 bps +5475 bps
24.9% -29.9% -2.1% EPS (₹)
from loss from loss 0.22 -0.16 -0.02
Quality of profit
Pre-tax profit ₹35.0 Cr: core business −₹29.0 Cr, other income ₹65.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: loss widened
Cash & debt
FY26 cash from operations ₹310 Cr.
Borrowings ₹105 Cr at Mar 2026, against ₹97.0 Cr at Sep 2025 (+9% ).
Against its own trend ?
Trend Actual Gap
Sales ₹134 ₹169
+25.8% above
M Cap ₹219 Cr
P/E 22.8
PEG 0.43
Profit -97% below its own trend Operating margin contracted 682 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
-9.5% +8.4%
82.9 76.4 91.6 Operating profit
-72.6% -73.4%
2.5 9.2 9.0 OPM %
-682 bps -911 bps
3.0% 12.1% 9.8% Other income
+278.5% —
4.2 0.3 1.1 Net profit?
-95.0% -81.0%
0.3 1.6 6.2 PAT margin %
-637 bps -176 bps
0.4% 2.1% 6.7% EPS (₹)
-95.0% -81.0%
0.24 1.26 4.76
Quality of profit
Pre-tax profit ₹0.9 Cr: core business −₹3.3 Cr, other income ₹4.2 Cr.
Core profit YoY: to loss
· reported profit -95.0%
Cash & debt
FY26 cash from operations ₹50.0 Cr:
490% of FY26 net profit of ₹10.2 Cr.
Borrowings ₹73.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹108 ₹82.9
-23.3% below Net profit ₹9.3 ₹0.3
-96.7% below
M Cap ₹218 Cr
P/E 33.1
PEG —
Turnaround: profit against a loss a year ago Operating margin expanded 105 bps YoY Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+16.4% -40.1%
42.0 70.1 36.0 Operating profit
loss widened loss narrowed -2.9 -6.0 -2.9 OPM %
+105 bps +172 bps
-6.9% -8.6% -7.9% Other income
-71.2% -92.2%
1.8 22.4 6.1 Net profit
from loss -94.7%
0.6 12.0 -0.7 PAT margin %
+342 bps -1556 bps
1.5% 17.1% -1.9% EPS (₹)
from loss -94.4%
0.08 1.44 -0.08
Quality of profit
Pre-tax profit −₹5.6 Cr: core business −₹7.3 Cr, other income ₹1.8 Cr.
Core profit YoY: loss widened
Cash & debt
FY26 cash from operations −₹14.0 Cr:
-212% of FY26 net profit of ₹6.6 Cr.
Borrowings ₹70.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹25.5 ₹42.0
+64.6% above
M Cap ₹218 Cr
P/E 13.2
PEG 0.13
Profit +103% above its own trend Operating margin expanded 784 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+51.8% +58.5%
99.4 62.7 65.4 Operating profit
— +679.5%
8.7 1.1 0.6 OPM %
+784 bps +696 bps
8.7% 1.8% 0.9% Other income
-38.3% -38.6%
1.9 3.1 3.1 Net profit?
+79.1% +206.7%
6.9 2.2 3.8 PAT margin %
+105 bps +334 bps
6.9% 3.6% 5.9% EPS (₹)
+79.0% +207.6%
6.89 2.24 3.85
Quality of profit
Pre-tax profit ₹9.3 Cr: core business ₹7.4 Cr, other income ₹1.9 Cr.
Core profit YoY: from loss
· reported profit +79.1%
Cash & debt
FY26 cash from operations ₹15.0 Cr:
114% of FY26 net profit of ₹13.1 Cr.
Borrowings ₹2.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹66.5 ₹99.4
+49.4% above Net profit ₹3.4 ₹6.9
+103.4% above
M Cap ₹218 Cr
P/E 12.5
PEG 0.48
Into loss: a profit a year ago Profit -477% below its own trend Operating margin contracted 221 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-0.5% -3.2%
103 107 104 Operating profit
loss widened to loss -4.4 8.3 -2.1 OPM %
-221 bps -1201 bps
-4.2% 7.8% -2.0% Other income
+38.2% +97.4%
5.6 2.9 4.1 Net profit?
to loss to loss -3.9 4.5 2.0 PAT margin %
-572 bps -801 bps
-3.8% 4.3% 2.0% EPS (₹)
to loss to loss -1.82 2.13 0.96
Quality of profit
Pre-tax profit −₹4.9 Cr: core business −₹10.6 Cr, other income ₹5.6 Cr.
Core profit YoY: loss widened
Cash & debt
FY26 cash from operations ₹14.0 Cr:
148% of FY26 net profit of ₹9.5 Cr.
Borrowings ₹149 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹108 ₹103
-4.6% in line Net profit ₹1.0 −₹3.9
-476.6% below
How to read this page
The numbers. Each card is one company's Q4 FY26 results as filed with NSE or BSE, read from the
filing within hours of its release, in ₹ crore. We show the consolidated statement, or the standalone one when
the consolidated figures are a copy of it or have no year-ago quarter to compare with. YoY compares with the same
quarter a year earlier and QoQ with the quarter before (the previous half-year for companies that report every six months).
A swing between profit and loss is described in words: a percentage across it would mislead.
Net profit. On a consolidated statement, net profit is the profit of the whole group for the quarter,
before minority interest. A company's own headline, and the AI read of its filing, often quote the profit
attributable to its shareholders instead, which is lower when subsidiaries are partly owned: Larsen & Toubro's
Q1 FY27 group profit was ₹4,988 Cr, of which ₹4,123 Cr belonged to its shareholders. EPS is worked out on that
attributable profit, so EPS and net profit need not grow at the same rate. On a standalone statement the two
are the same.
Margins. Operating margin (OPM) is operating profit, before depreciation, interest and other income,
as a share of sales; PAT margin is net profit as a share of sales. Their changes are in basis points
(100 bps = 1 percentage point).
Quality of profit. Core profit is operating profit minus interest and depreciation: what the business
itself earned before tax. The rest of pre-tax profit is other income (interest on cash, dividends, gains on
investments) and exceptional or one-off items. We flag a quarter when that share is 25% or more,
and when reported profit grew much faster than core profit. For banks we compare pre-provision profit with net
profit, since a fall in provisions can lift profit without the business growing.
Against its own trend. We do not have analyst consensus estimates, and we do not make them up. Instead
each company is measured against the path it was on: the same quarter last year, grown at the median of its
last four year-on-year growth rates (held between −50% and +100%; at least two growth rates needed). Sales
5% or more above that, or net profit 10% or more above, is "above trend";
as far below is "below trend". It answers "was this quarter better or worse than the company's own recent
run?", which consensus does not.
Cash and debt. Profit is an accounting figure; cash is harder to dress up. For each company we show
its operating cash flow for the last financial year as a share of that year's net profit (flagged under
50%, or when it is negative despite a profit), and its borrowings at the latest balance sheet
against the one six months earlier (flagged at a 25% move). Balance sheets come with the
September and March results, cash-flow statements with the March results.
Price since results. The latest close against the last close before the filing (a filing after 3:30 pm
counts from the next session). It is a fact about the market's reaction, not advice.
Market cap groups. Large cap is the 100 largest companies by market value and mid cap the next 150
(SEBI's ranking); below that, small cap is ₹5,000 Cr or more, micro cap ₹500 Cr or more, nano cap below.
Data source Quarterly results filed by listed companies with NSE and BSE (Regulation 33 of SEBI LODR), read from each filing; share prices from the exchanges; market cap and P/E from our daily fundamentals snapshot.
Last updated 14 Oct 2026, 12:49 IST
