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: 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
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M Cap ₹217 Cr
P/E 90.4
PEG —
Operating margin contracted 698 bps YoY Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-63.8% -27.7%
8.2 11.3 22.6 Operating profit
to loss to loss -0.3 1.1 0.8 OPM %
-698 bps -1348 bps
-3.7% 9.8% 3.3% Other income
+5.7% +8.8%
0.4 0.3 0.3 Net profit
loss widened to loss -0.6 0.4 -0.1 PAT margin %
-756 bps -1127 bps
-7.8% 3.4% -0.3% EPS (₹)
loss widened to loss -0.62 0.38 -0.06
Quality of profit
Pre-tax profit −₹0.8 Cr: core business −₹1.2 Cr, other income ₹0.4 Cr.
Core profit YoY: loss widened
Cash & debt
FY26 cash from operations −₹3.4 Cr:
-324% of FY26 net profit of ₹1.1 Cr.
Borrowings ₹0.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹19.6 ₹8.2
-58.3% below
Profit +999% above its own trend Operating margin expanded 677 bps YoY Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+67.4% +10.4%
10.8 9.8 6.5 Operating profit
+400.0% -32.5%
1.1 1.6 0.2 OPM %
+677 bps -648 bps
10.2% 16.7% 3.4% Other income
-28.6% +7.1%
0.1 0.1 0.2 Net profit
+642.9% -71.6%
0.5 1.8 0.1 PAT margin %
+373 bps -1390 bps
4.8% 18.7% 1.1% EPS (₹)
+683.3% -71.7%
0.47 1.66 0.06
Quality of profit
Pre-tax profit ₹0.9 Cr: core business ₹0.7 Cr, other income ₹0.1 Cr.
Core profit YoY: from loss
· reported profit +642.9%
Cash & debt
FY26 cash from operations −₹0.1 Cr:
-5% of FY26 net profit of ₹2.5 Cr.
Borrowings ₹1.1 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹5.7 ₹10.8
+90.7% above Net profit ₹0.0 ₹0.5
+999.0% above
M Cap ₹216 Cr
P/E 3.8
PEG 0.01
Operating margin contracted 9159 bps YoY All of pre-tax profit came from other income or one-off items FY26 operating cash flow was only 25% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-65.1% -53.2%
18.0 38.5 51.6 Operating profit
to loss to loss -14.0 6.1 7.1 OPM %
-9159 bps -9372 bps
-77.8% 15.9% 13.8% Other income
— —
71.0 1.1 0.8 Net profit?
— from loss 43.0 -0.2 0.0 EPS (₹)
— from loss 5.85 -0.03 0.00
Quality of profit
Pre-tax profit ₹50.0 Cr: core business −₹21.0 Cr, other income ₹71.0 Cr.
Core profit YoY: loss widened
Cash & debt
FY26 cash from operations ₹10.0 Cr:
25% of FY26 net profit of ₹39.8 Cr.
Borrowings ₹107 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹51.8 ₹18.0
-65.3% below
M Cap ₹216 Cr
P/E 158.3
PEG 1.78
Operating margin contracted 2863 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+116.7% —
12.4 0.3 5.7 Operating profit
-35.8% —
1.5 0.0 2.3 OPM %
-2863 bps +126 bps
12.0% 10.8% 40.7% Other income
— +785.0%
0.1 0.0 0.0 Net profit?
-38.0% from loss 1.0 -0.1 1.6 PAT margin %
-1958 bps +3200 bps
7.8% -24.2% 27.4% EPS (₹)
-40.0% from loss 0.09 -0.01 0.15
Quality of profit
Pre-tax profit ₹1.3 Cr: core business ₹1.2 Cr, other income ₹0.1 Cr.
Core profit YoY: -43.6%
· reported profit -38.0%
Cash & debt
FY26 cash from operations ₹1.9 Cr:
143% of FY26 net profit of ₹1.4 Cr.
Borrowings ₹11.2 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹11.4 ₹12.4
+8.3% above
Into loss: a profit a year ago
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+40.3% +13.3%
18.0 15.9 12.8 Operating profit
loss widened to loss -22.0 0.7 -9.4 Other income
-63.5% +578.5%
8.0 1.2 21.9 Net profit?
to loss loss widened -17.0 -1.3 9.1 PAT margin %
-16523 bps -8619 bps
-94.4% -8.3% 70.8% EPS (₹)
to loss loss widened -1.03 -0.08 0.56
Quality of profit
Pre-tax profit −₹17.0 Cr: core business −₹25.0 Cr, other income ₹8.0 Cr.
Core profit YoY: loss widened
Cash & debt
FY26 cash from operations −₹26.0 Cr.
Borrowings ₹24.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹21.5 ₹18.0
-16.2% below
M Cap ₹212 Cr
P/E 35.4
PEG —
Profit -76% below its own trend Operating margin contracted 811 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
+26.3% +5.9%
72.0 68.0 57.0 Operating profit
-57.1% -62.5%
3.0 8.0 7.0 OPM %
-811 bps -760 bps
4.2% 11.8% 12.3% Other income
+100.0% +100.0%
2.0 1.0 1.0 Net profit?
-80.0% -80.0%
1.0 5.0 5.0 PAT margin %
-738 bps -596 bps
1.4% 7.4% 8.8% EPS (₹)
-81.0% -80.1%
0.56 2.82 2.94
Quality of profit
Pre-tax profit ₹1.0 Cr: core business −₹2.0 Cr, other income ₹2.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: to loss
· reported profit -80.0%
Cash & debt
FY26 cash from operations −₹18.0 Cr.
Borrowings ₹47.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹78.0 ₹72.0
-7.7% below Net profit ₹4.1 ₹1.0
-75.7% below
M Cap ₹210 Cr
P/E 8.4
PEG 0.06
Profit -96% below its own trend 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
-5.6% —
1,440 54.3 1,527 Operating profit
to loss to loss -0.4 0.6 4.5 OPM %
-32 bps -110 bps
-0.0% 1.1% 0.3% Other income
+152.1% +54.8%
2.9 1.8 1.1 Net profit?
-92.5% -59.7%
0.8 2.1 11.0 PAT margin %
-67 bps -374 bps
0.1% 3.8% 0.7% EPS (₹)
-92.5% -59.6%
0.61 1.51 8.10
Quality of profit
Pre-tax profit ₹1.8 Cr: core business −₹1.1 Cr, other income ₹2.9 Cr.
Core profit YoY: to loss
· reported profit -92.5%
Cash & debt
FY26 cash from operations −₹3.0 Cr:
-15% of FY26 net profit of ₹19.5 Cr.
Borrowings ₹9.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹3,053 ₹1,440
-52.8% below Net profit ₹22.1 ₹0.8
-96.2% below
Operating margin contracted 5553 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+5.3% +5.3%
20.0 19.0 19.0 Operating profit
to loss —
-9.0 0.0 2.0 OPM %
-5553 bps -4500 bps
-45.0% 0.0% 10.5% Other income
loss narrowed -100.0%
0.0 1.0 -17.0 Net profit
loss narrowed —
-11.0 0.0 -17.0 PAT margin %
+3447 bps -5500 bps
-55.0% 0.0% -89.5% EPS (₹)
loss narrowed to loss -2.24 0.03 -3.56
Quality of profit
Pre-tax profit −₹9.0 Cr: core business −₹10.0 Cr, other income ₹0.0 Cr, exceptional & other items ₹1.0 Cr.
Cash & debt
Borrowings ₹106 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹19.0 ₹20.0
+5.0% above
Into loss: a profit a year ago Operating margin expanded 1483 bps YoY Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+44.9% +2.8%
41.7 40.6 28.8 Operating profit
— +99.7%
6.5 3.3 0.2 OPM %
+1483 bps +757 bps
15.6% 8.0% 0.8% Other income
+3.7% +79.6%
1.8 1.0 1.7 Net profit?
to loss loss widened -2.7 -1.8 0.7 PAT margin %
-898 bps -211 bps
-6.4% -4.3% 2.5% EPS (₹)
-72.7% —
0.06 0.00 0.22
Quality of profit
Pre-tax profit −₹3.8 Cr: core business −₹5.6 Cr, other income ₹1.8 Cr.
Core profit YoY: loss widened
Cash & debt
FY26 cash from operations −₹14.0 Cr:
-1397% of FY26 net profit of ₹1.0 Cr.
Borrowings ₹96.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹41.7 ₹41.7
-0.1% in line
M Cap ₹209 Cr
P/E 33.5
PEG —
Profit -49% below its own trend Operating margin contracted 385 bps YoY 93% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -86%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-7.8% +2.1%
438 429 475 Operating profit
-50.0% -13.0%
20.0 23.0 40.0 OPM %
-385 bps -80 bps
4.6% 5.4% 8.4% Other income
+105.0% +310.0%
41.0 10.0 20.0 Net profit
-30.0% +115.4%
28.0 13.0 40.0 PAT margin %
-203 bps +336 bps
6.4% 3.0% 8.4% EPS (₹)
-30.1% +118.1%
1.81 0.83 2.59
Quality of profit
Pre-tax profit ₹43.0 Cr: core business ₹3.0 Cr, other income ₹41.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: -85.7%
· reported profit -30.0%
Cash & debt
FY26 cash from operations ₹92.0 Cr:
378% of FY26 net profit of ₹24.3 Cr.
Borrowings ₹321 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹533 ₹438
-17.8% below Net profit ₹54.9 ₹28.0
-49.0% below
M Cap ₹208 Cr
P/E 13.0
PEG 1.62
Profit -49% below its own trend Operating margin contracted 106 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+13.5% +7.7%
294 273 259 Operating profit
-3.1% +1.9%
18.2 17.9 18.8 OPM %
-106 bps -35 bps
6.2% 6.5% 7.2% Other income
-48.9% +97.0%
1.4 0.7 2.7 Net profit?
-36.0% +49.6%
5.3 3.5 8.2 PAT margin %
-138 bps +50 bps
1.8% 1.3% 3.2% EPS (₹)
-39.5% +23.3%
1.59 1.29 2.63
Quality of profit
Pre-tax profit ₹5.8 Cr: core business ₹4.4 Cr, other income ₹1.4 Cr.
Core profit YoY: -36.8%
· reported profit -36.0%
Cash & debt
FY26 cash from operations ₹24.0 Cr:
140% of FY26 net profit of ₹17.1 Cr.
Borrowings ₹276 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹292 ₹294
+0.8% in line Net profit ₹10.3 ₹5.3
-48.8% below
M Cap ₹208 Cr
P/E 10.7
PEG 1.79
Core business grew faster than reported profit (core profit +80%) FY26 operating cash flow was only 45% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+19.2% +2.9%
172 167 144 Operating profit
+53.2% +27.1%
6.8 5.4 4.4 OPM %
+88 bps +75 bps
4.0% 3.2% 3.1% Other income
+61.7% from loss 0.8 -0.2 0.5 Net profit?
+55.0% +14.2%
4.6 4.0 3.0 PAT margin %
+61 bps +26 bps
2.7% 2.4% 2.0% EPS (₹)
+54.5% +14.0%
3.09 2.71 2.00
Quality of profit
Pre-tax profit ₹6.4 Cr: core business ₹5.6 Cr, other income ₹0.8 Cr.
Core profit YoY: +80.0%
· reported profit +55.0%
Cash & debt
FY26 cash from operations ₹8.0 Cr:
45% of FY26 net profit of ₹17.6 Cr.
Borrowings ₹27.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹191 ₹172
-9.9% below Net profit ₹4.9 ₹4.6
-6.3% in line
M Cap ₹208 Cr
P/E 6.9
PEG 0.02
Profit -60% below its own trend Operating margin expanded 2454 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
+400.7% +1.9%
23.9 23.4 4.8 Operating profit
loss widened loss widened -4.5 -0.0 -2.1 OPM %
+2454 bps -1887 bps
-18.9% -0.1% -43.5% Other income
-7.2% +288.0%
26.4 6.8 28.5 Net profit?
-20.3% +314.1%
15.3 3.7 19.2 PAT margin %
— +4842 bps
64.2% 15.8% — EPS (₹)
-20.4% +318.5%
1.13 0.27 1.42
Quality of profit
Pre-tax profit ₹18.9 Cr: core business −₹7.5 Cr, other income ₹26.4 Cr.
Core profit YoY: loss widened
· reported profit -20.3%
Cash & debt
FY26 cash from operations −₹29.0 Cr:
-134% of FY26 net profit of ₹21.6 Cr.
Borrowings ₹67.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹9.5 ₹23.9
+150.3% above Net profit ₹38.4 ₹15.3
-60.1% below
M Cap ₹208 Cr
P/E 26.8
PEG 2.43
Profit -36% below its own trend 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
+9.2% +33.7%
96.2 72.0 88.1 Operating profit
-13.7% -67.5%
2.1 6.6 2.5 OPM %
-59 bps -696 bps
2.2% 9.2% 2.8% Other income
+626.9% +36.7%
1.9 1.4 0.3 Net profit
-60.2% -79.7%
0.7 3.5 1.8 PAT margin %
-127 bps -407 bps
0.7% 4.8% 2.0% EPS (₹)
-61.1% -79.4%
0.07 0.34 0.18
Quality of profit
Pre-tax profit ₹0.9 Cr: core business −₹1.0 Cr, other income ₹1.9 Cr.
Core profit YoY: to loss
· reported profit -60.2%
Cash & debt
FY26 cash from operations −₹9.0 Cr:
-116% of FY26 net profit of ₹7.8 Cr.
Borrowings ₹124 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹78.3 ₹96.2
+22.9% above Net profit ₹1.1 ₹0.7
-36.3% below
Operating margin contracted 4407 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
+160.8% +80.7%
84.0 46.5 32.2 Operating profit
+12.3% -7.8%
28.0 30.4 24.9 OPM %
-4407 bps -3201 bps
33.3% 65.3% 77.4% Other income
— —
22.0 1.6 1.8 Net profit?
+81.6% +121.3%
31.0 14.0 17.1 PAT margin %
-1610 bps +677 bps
36.9% 30.1% 53.0% EPS (₹)
— +109.9%
1.23 adj. 0.594.79
EPS restated for the ₹10 to ₹2 split of Sep 2026: Dec 2025 ₹2.93 to ₹0.59. No EPS growth against Mar 2025: ₹10 to ₹2 split in Sep 2026.
Quality of profit
Pre-tax profit ₹6.0 Cr: core business −₹16.0 Cr, other income ₹22.0 Cr.
Core profit YoY: to loss
· reported profit +81.6%
Against its own trend ?
Trend Actual Gap
Sales ₹63.6 ₹84.0
+32.1% above Net profit ₹29.6 ₹31.0
+4.7% in line
M Cap ₹206 Cr
P/E 74.7
PEG —
Operating margin contracted 274 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
-10.9% -3.1%
83.6 86.2 93.8 Operating profit
-25.3% +7.4%
11.9 11.1 15.9 OPM %
-274 bps +139 bps
14.2% 12.8% 17.0% Other income
-12.6% -31.0%
2.6 3.8 3.0 Net profit?
-18.7% from loss 0.8 -0.2 0.9 PAT margin %
-9 bps +110 bps
0.9% -0.2% 1.0% EPS (₹)
-18.0% from loss 0.41 -0.09 0.50
Quality of profit
Pre-tax profit ₹1.4 Cr: core business −₹1.2 Cr, other income ₹2.6 Cr.
Core profit YoY: to loss
· reported profit -18.7%
Cash & debt
FY26 cash from operations ₹26.0 Cr:
841% of FY26 net profit of ₹3.1 Cr.
Borrowings ₹249 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹60.3 ₹83.6
+38.6% above Net profit ₹0.8 ₹0.8
-9.6% in line
M Cap ₹206 Cr
P/E 26.1
PEG —
Profit +78% above its own trend Operating margin expanded 341 bps YoY Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-17.8% -49.6%
54.5 108 66.2 Operating profit
+6.9% -7.1%
8.0 8.7 7.5 OPM %
+341 bps +676 bps
14.8% 8.0% 11.4% Other income
-21.3% -33.7%
0.6 0.9 0.8 Net profit?
+26.9% -23.5%
2.3 3.0 1.8 PAT margin %
+149 bps +145 bps
4.2% 2.8% 2.7% EPS (₹)
+41.7% -22.7%
0.17 0.22 0.12
Quality of profit
Pre-tax profit ₹2.8 Cr: core business ₹2.2 Cr, other income ₹0.6 Cr.
Core profit YoY: +21.7%
· reported profit +26.9%
Cash & debt
FY26 cash from operations −₹1.0 Cr:
-11% of FY26 net profit of ₹8.7 Cr.
Borrowings ₹104 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹56.3 ₹54.5
-3.2% in line Net profit ₹1.3 ₹2.3
+78.0% above
Operating margin expanded 225 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-13.7% +285.9%
143 37.0 166 Operating profit
+5.6% from loss 17.6 -4.5 16.7 OPM %
+225 bps +2457 bps
12.3% -12.3% 10.1% Other income
+225.0% +41.3%
0.7 0.5 0.2 Net profit?
-5.9% from loss 9.3 -7.1 9.8 PAT margin %
+54 bps +2557 bps
6.5% -19.1% 5.9% EPS (₹)
-6.1% from loss 8.76 -6.70 9.33
Quality of profit
Pre-tax profit ₹12.9 Cr: core business ₹12.3 Cr, other income ₹0.7 Cr.
Core profit YoY: -9.2%
· reported profit -5.9%
Cash & debt
FY26 cash from operations −₹12.0 Cr.
Borrowings ₹105 Cr at Mar 2026.
M Cap ₹203 Cr
P/E 13.6
PEG 0.90
Profit +44% above its own trend Operating margin expanded 473 bps YoY 27% of pre-tax profit came from other income and one-off items
₹ Cr YoY vs prev. half
Mar 2026 Sep 2025 Mar 2025
Sales
+13.6% +13.6%
25.0 22.0 22.0 Operating profit
+33.3% +33.3%
8.0 6.0 6.0 OPM %
+473 bps +473 bps
32.0% 27.3% 27.3% Other income
+0.0% -25.0%
3.0 4.0 3.0 Net profit?
+33.3% +14.3%
8.0 7.0 6.0 PAT margin %
+473 bps +18 bps
32.0% 31.8% 27.3% EPS (₹)
+29.4% +13.6%
7.96 7.01 6.15
Quality of profit
Pre-tax profit ₹11.0 Cr: core business ₹8.0 Cr, other income ₹3.0 Cr.
Core profit YoY: +33.3%
· reported profit +33.3%
Cash & debt
FY26 cash from operations ₹11.0 Cr.
Borrowings nil at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹21.5 ₹25.0
+16.2% above Net profit ₹5.6 ₹8.0
+43.6% above
M Cap ₹203 Cr
P/E 10.0
PEG 0.40
Profit -21% below its own trend Operating margin expanded 707 bps YoY 42% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +43%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-13.8% -31.4%
16.3 23.8 18.9 Operating profit
+30.0% -34.6%
3.4 5.2 2.6 OPM %
+707 bps -104 bps
21.0% 22.0% 13.9% Other income
-38.3% -20.1%
1.8 2.2 2.9 Net profit
-4.4% -31.2%
3.7 5.3 3.8 PAT margin %
+220 bps +5 bps
22.4% 22.4% 20.2% EPS (₹)
-4.6% -31.3%
7.32 10.65 7.67
Quality of profit
Pre-tax profit ₹4.3 Cr: core business ₹2.5 Cr, other income ₹1.8 Cr.
Core profit YoY: +42.6%
· reported profit -4.4%
Cash & debt
FY26 cash from operations ₹13.0 Cr:
59% of FY26 net profit of ₹21.9 Cr.
Borrowings nil at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹17.3 ₹16.3
-5.7% below Net profit ₹4.7 ₹3.7
-21.4% below
M Cap ₹203 Cr
P/E 38.3
PEG 0.81
Operating margin expanded 380 bps YoY
₹ Cr YoY vs prev. half
Mar 2026 Sep 2025 Mar 2025
Sales
+22.9% +49.3%
33.3 22.3 27.1 Operating profit
+54.7% from loss 6.2 -0.8 4.0 OPM %
+380 bps +2210 bps
18.5% -3.6% 14.7% Other income
+13.4% +17.5%
1.0 0.8 0.9 Net profit
+42.5% from loss 5.3 -0.0 3.8 PAT margin %
+220 bps +1629 bps
16.1% -0.2% 13.9% EPS (₹)
+29.0% from loss 4.54 -0.04 3.52
Quality of profit
Pre-tax profit ₹7.3 Cr: core business ₹6.0 Cr, other income ₹1.0 Cr.
Core profit YoY: +56.4%
· reported profit +42.5%
Cash & debt
FY26 cash from operations ₹7.1 Cr.
Borrowings nil at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹32.6 ₹33.3
+2.2% in line
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-25.5% -10.9%
41.0 46.0 55.0 Operating profit
loss widened to loss -47.0 8.0 -45.0 Other income
-28.6% -37.5%
5.0 8.0 7.0 Net profit
loss widened to loss -48.0 4.0 -38.0 EPS (₹)
loss widened to loss -1.39 0.11 -1.10
Quality of profit
Pre-tax profit −₹51.0 Cr: core business −₹55.0 Cr, other income ₹5.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY26 cash from operations ₹22.0 Cr.
Borrowings ₹24.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹41.9 ₹41.0
-2.2% in line
M Cap ₹202 Cr
P/E 15.5
PEG —
Turnaround: profit against a loss a year ago Operating margin expanded 117 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+10.7% +6.6%
179 168 162 Operating profit
+34.5% +6.1%
11.9 11.2 8.8 OPM %
+117 bps -3 bps
6.6% 6.7% 5.5% Other income
-24.0% +29.9%
0.4 0.3 0.5 Net profit?
from loss +95.6%
3.1 1.6 -0.1 PAT margin %
+182 bps +80 bps
1.8% 1.0% -0.1% EPS (₹)
from loss +96.3%
1.59 0.81 -0.05
Quality of profit
Pre-tax profit ₹4.3 Cr: core business ₹3.9 Cr, other income ₹0.4 Cr.
Cash & debt
FY26 cash from operations ₹34.0 Cr:
426% of FY26 net profit of ₹8.0 Cr.
Borrowings ₹182 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹214 ₹179
-16.1% below
M Cap ₹200 Cr
P/E 120.5
PEG 0.66
Profit +579% above its own trend Operating margin expanded 172 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+14.1% +6.6%
27.5 25.8 24.1 Operating profit
+26.4% +17.4%
4.9 4.2 3.9 OPM %
+172 bps +162 bps
17.7% 16.1% 16.0% Other income
+23.5% +167.0%
0.0 0.0 0.0 Net profit
+961.4% +45.1%
0.5 0.4 0.1 PAT margin %
+172 bps +51 bps
1.9% 1.4% 0.2% EPS (₹)
+850.0% +46.2%
0.19 0.13 0.02
Quality of profit
Pre-tax profit ₹1.0 Cr: core business ₹1.0 Cr, other income ₹0.0 Cr.
Core profit YoY: +167.9%
· reported profit +961.4%
Cash & debt
FY26 cash from operations ₹6.0 Cr:
421% of FY26 net profit of ₹1.4 Cr.
Borrowings ₹53.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹26.4 ₹27.5
+4.1% in line Net profit ₹0.1 ₹0.5
+579.2% above
Profit +68% above its own trend Core business grew faster than reported profit (core profit +90%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+13.6% +9.1%
156 143 137 Operating profit
+17.5% +13.1%
13.4 11.9 11.4 OPM %
+29 bps +31 bps
8.6% 8.3% 8.3% Other income
-40.0% -11.1%
0.2 0.3 0.4 Net profit
+62.0% +96.4%
3.2 1.6 2.0 PAT margin %
+62 bps +92 bps
2.1% 1.2% 1.5% EPS (₹)
+58.1% +96.0%
0.49 0.25 0.31
Quality of profit
Pre-tax profit ₹4.9 Cr: core business ₹4.7 Cr, other income ₹0.2 Cr.
Core profit YoY: +89.9%
· reported profit +62.0%
Cash & debt
FY26 cash from operations ₹40.0 Cr:
529% of FY26 net profit of ₹7.6 Cr.
Borrowings ₹241 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹161 ₹156
-3.2% in line Net profit ₹1.9 ₹3.2
+67.6% above
M Cap ₹199 Cr
P/E 40.6
PEG 0.85
Operating margin expanded 762 bps YoY Profit grew faster than the core business (core profit +40%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-39.7% +216.9%
50.9 16.1 84.4 Operating profit
+14.8% +309.5%
8.2 2.0 7.1 OPM %
+762 bps +363 bps
16.1% 12.4% 8.4% Other income
+279.3% —
1.6 0.0 0.4 Net profit?
+108.1% —
4.8 0.4 2.3 PAT margin %
+666 bps +714 bps
9.4% 2.2% 2.7% EPS (₹)
+108.3% —
4.25 0.32 2.04
Quality of profit
Pre-tax profit ₹7.4 Cr: core business ₹5.7 Cr, other income ₹1.6 Cr.
Core profit YoY: +39.8%
· reported profit +108.1%
Cash & debt
FY26 cash from operations ₹7.0 Cr:
115% of FY26 net profit of ₹6.1 Cr.
Borrowings ₹69.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹60.6 ₹50.9
-16.0% below
M Cap ₹199 Cr
P/E 26.8
PEG —
Operating margin expanded 459 bps YoY Core business grew faster than reported profit (core profit +393%)
₹ Cr YoY vs prev. half
Mar 2026 Sep 2025 Mar 2025
Sales
+83.5% +10.1%
71.6 65.0 39.0 Operating profit
+193.1% +75.8%
8.8 5.0 3.0 OPM %
+459 bps +459 bps
12.3% 7.7% 7.7% Other income
-53.0% -53.0%
0.9 2.0 2.0 Net profit?
+121.4% +47.6%
4.4 3.0 2.0 PAT margin %
+106 bps +157 bps
6.2% 4.6% 5.1% EPS (₹)
+100.8% +50.9%
2.61 1.73 1.30
Quality of profit
Pre-tax profit ₹5.9 Cr: core business ₹4.9 Cr, other income ₹0.9 Cr.
Core profit YoY: +393.3%
· reported profit +121.4%
Cash & debt
FY26 cash from operations −₹9.0 Cr.
Borrowings ₹43.0 Cr at Mar 2026.
M Cap ₹199 Cr
P/E 13.6
PEG 0.05
Profit +999% above its own trend Operating margin expanded 6389 bps YoY Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+605.0% +452.4%
14.0 2.5 2.0 Operating profit
— +742.0%
12.6 1.5 0.5 OPM %
+6389 bps +3097 bps
90.0% 59.1% 26.1% Other income
— —
0.0 0.0 0.0 Net profit
— +810.9%
9.2 1.0 0.3 PAT margin %
+5050 bps +2581 bps
65.6% 39.8% 15.1% EPS (₹)
— —
3.90 0.16 0.05
Quality of profit
Pre-tax profit ₹12.4 Cr: core business ₹12.4 Cr, other income ₹0.0 Cr.
Cash & debt
FY26 cash from operations −₹3.0 Cr:
-28% of FY26 net profit of ₹10.6 Cr.
Borrowings ₹2.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹3.4 ₹14.0
+317.4% above Net profit ₹0.6 ₹9.2
+999.0% above
M Cap ₹198 Cr
P/E 13.0
PEG 0.22
Profit +19% above its own trend Operating margin expanded 164 bps YoY Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+6.3% +20.3%
58.5 48.7 55.1 Operating profit
+24.9% +8.3%
6.4 5.9 5.1 OPM %
+164 bps -121 bps
11.0% 12.2% 9.3% Other income
+42.5% +152.9%
0.4 0.2 0.3 Net profit?
+39.7% +10.1%
3.9 3.6 2.8 PAT margin %
+161 bps -62 bps
6.7% 7.3% 5.1% EPS (₹)
+14.8% -7.1%
1.71 1.84 1.49
Quality of profit
Pre-tax profit ₹4.9 Cr: core business ₹4.5 Cr, other income ₹0.4 Cr.
Core profit YoY: +8.9%
· reported profit +39.7%
Cash & debt
FY26 cash from operations −₹5.0 Cr:
-34% of FY26 net profit of ₹14.8 Cr.
Borrowings ₹14.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹81.3 ₹58.5
-28.0% below Net profit ₹3.3 ₹3.9
+18.6% above
M Cap ₹198 Cr
P/E 6.1
PEG 2.02
Profit -20% below its own trend FY26 operating cash flow was only 36% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+8.6% +2.4%
173 169 159 Operating profit
-5.3% +7.0%
10.8 10.1 11.5 OPM %
-92 bps +27 bps
6.3% 6.0% 7.2% Other income
-5.8% +0.8%
2.1 2.1 2.2 Net profit?
-3.4% +8.5%
9.7 8.9 10.0 PAT margin %
-69 bps +31 bps
5.6% 5.3% 6.3% EPS (₹)
-2.8% +9.1%
4.19 3.84 4.31
Quality of profit
Pre-tax profit ₹12.7 Cr: core business ₹10.6 Cr, other income ₹2.1 Cr.
Core profit YoY: -5.4%
· reported profit -3.4%
Cash & debt
FY26 cash from operations ₹11.0 Cr:
36% of FY26 net profit of ₹30.2 Cr.
Borrowings nil at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹175 ₹173
-1.1% in line Net profit ₹12.1 ₹9.7
-19.7% 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
