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: 36 companies have filed results for the quarter ended 30 Sep 2026.
See them → Q4 FY26 scoreboard
Sales growth
+12.4%
YoY, 4645 companies combined; median +11.7%
Net profit growth
+34.1%
YoY combined; median +16.1%
Operating margin
14.3%
+10 bps YoY
Grew profit
55%
472 turnarounds, 495 into loss
Vs own profit trend
38% / 48%
above / below, 14% in line
Banks: NII growth
+9.1%
120 lenders; profit +11.1%
Price since results
-4.8%
median; 37% of 35 stocks up
Other-income heavy
1375
25%+ of pre-tax profit from other income & one-offs
Filters & sorting
Results by sector
Latest Q4 FY26 results 5115
Page 7 of 171
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M Cap ₹87,191 Cr
P/E 45.6
PEG 7.59
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+8.4% -4.9%
3,900 4,099 3,598 Operating profit
+10.8% -4.5%
841 880 759 OPM %
+46 bps +9 bps
21.6% 21.5% 21.1% Other income
to loss to loss -24.0 55.9 73.7 Net profit?
+9.7% -9.2%
452 498 412 PAT margin %
+14 bps -56 bps
11.6% 12.1% 11.4% EPS (₹)
+9.7% -9.2%
4.42 4.87 4.03
Quality of profit
Pre-tax profit ₹651 Cr: core business ₹675 Cr, other income −₹24.0 Cr.
Core profit YoY: +13.0%
· reported profit +9.7%
Cash & debt
FY26 cash from operations ₹2,488 Cr:
134% of FY26 net profit of ₹1,862 Cr.
Borrowings ₹4,416 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹3,869 ₹3,900
+0.8% in line Net profit ₹412 ₹452
+9.8% in line
M Cap ₹86,787 Cr
P/E 121.3
PEG 3.47
Profit -35% below its own trend Core business grew faster than reported profit (core profit +19%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+17.5% +4.3%
4,528 4,343 3,853 Operating profit
+14.4% +4.2%
777 746 679 OPM %
-46 bps -2 bps
17.2% 17.2% 17.6% Other income
to loss loss widened -46.0 -13.0 57.0 Net profit?
-17.7% -14.7%
233 273 283 PAT margin %
-220 bps -114 bps
5.1% 6.3% 7.3% EPS (₹)
-17.6% -12.1%
4.86 5.53 5.90
Quality of profit
Pre-tax profit ₹392 Cr: core business ₹438 Cr, other income −₹46.0 Cr.
Core profit YoY: +19.3%
· reported profit -17.7%
Cash & debt
FY26 cash from operations ₹1,487 Cr:
137% of FY26 net profit of ₹1,089 Cr.
Borrowings ₹7,309 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹3,939 ₹4,528
+14.9% above Net profit ₹358 ₹233
-34.9% below
M Cap ₹86,472 Cr
P/E 16.7
PEG 0.79
Profit +36% above its own trend Operating margin contracted 476 bps YoY 26% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -60%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+11.3% +6.2%
10,915 10,277 9,802 Operating profit
-17.8% +8.2%
1,464 1,353 1,781 OPM %
-476 bps +25 bps
13.4% 13.2% 18.2% Other income
-79.2% +58.0%
138 87.3 664 Net profit?
+44.8% +406.0%
1,857 367 1,282 PAT margin %
+393 bps +1344 bps
17.0% 3.6% 13.1% EPS (₹)
+90.7% +802.4%
7.40 0.82 3.88
Quality of profit
Pre-tax profit ₹528 Cr: core business ₹390 Cr, other income ₹138 Cr.
Core profit YoY: -60.2%
· reported profit +44.8%
Cash & debt
FY26 cash from operations ₹5,362 Cr:
97% of FY26 net profit of ₹5,543 Cr.
Borrowings ₹866 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹11,384 ₹10,915
-4.1% in line Net profit ₹1,365 ₹1,857
+36.1% above
M Cap ₹85,636 Cr
P/E 34.8
PEG 1.66
Operating margin expanded 1225 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
+41.1% +10.2%
4,499 4,082 3,189 Operating profit
+86.8% +10.9%
2,250 2,030 1,204 OPM %
+1225 bps +29 bps
50.0% 49.7% 37.8% Other income
+15.6% +101.9%
356 176 308 Net profit?
+38.5% +8.6%
574 529 415 PAT margin %
-24 bps -20 bps
12.8% 13.0% 13.0% EPS (₹)
-9.8% -12.4%
2.11 2.41 2.34
Quality of profit
Pre-tax profit ₹188 Cr: core business −₹167 Cr, other income ₹356 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: to loss
· reported profit +38.5%
Cash & debt
FY26 cash from operations ₹9,898 Cr:
358% of FY26 net profit of ₹2,763 Cr.
Borrowings ₹76,946 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹5,219 ₹4,499
-13.8% below Net profit ₹573 ₹574
+0.1% in line
M Cap ₹84,730 Cr
P/E 22.7
PEG 0.49
Operating margin contracted 117 bps YoY Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+17.4% +16.3%
17,246 14,830 14,696 Operating profit
+10.6% +17.2%
3,308 2,822 2,991 OPM %
-117 bps +15 bps
19.2% 19.0% 20.4% Other income
+745.5% +3.1%
186 180 22.0 Net profit?
+10.8% +60.2%
1,381 862 1,246 PAT margin %
-47 bps +219 bps
8.0% 5.8% 8.5% EPS (₹)
+14.6% +59.4%
2.20 1.38 1.92
Quality of profit
Pre-tax profit ₹1,940 Cr: core business ₹1,753 Cr, other income ₹186 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +9.7%
· reported profit +10.8%
Cash & debt
FY26 cash from operations −₹4,895 Cr:
-132% of FY26 net profit of ₹3,721 Cr.
Borrowings ₹63,936 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹16,312 ₹17,246
+5.7% above Net profit ₹1,410 ₹1,381
-2.1% in line
M Cap ₹84,284 Cr
P/E 57.8
PEG 5.78
Profit -17% below its own trend Operating margin expanded 149 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+12.2% +3.7%
2,143 2,068 1,910 Operating profit
+18.4% +12.6%
606 538 512 OPM %
+149 bps +224 bps
28.3% 26.0% 26.8% Other income
+2.3% +5.8%
48.0 45.4 46.9 Net profit?
+7.2% +13.7%
342 301 319 PAT margin %
-74 bps +140 bps
16.0% 14.6% 16.7% EPS (₹)
+7.3% +13.5%
3.52 3.10 3.28
Quality of profit
Pre-tax profit ₹465 Cr: core business ₹416 Cr, other income ₹48.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +17.0%
· reported profit +7.2%
Cash & debt
FY26 cash from operations ₹1,633 Cr:
113% of FY26 net profit of ₹1,442 Cr.
Borrowings ₹3,478 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹2,449 ₹2,143
-12.5% below Net profit ₹410 ₹342
-16.7% below
M Cap ₹83,634 Cr
P/E 34.4
PEG 2.46
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+12.8% -1.2%
6,825 6,905 6,051 Operating profit
+12.6% -19.7%
686 854 609 OPM %
-1 bps -232 bps
10.1% 12.4% 10.1% Other income
-46.7% +100.0%
32.0 16.0 60.0 Net profit
+7.3% -17.0%
547 659 510 PAT margin %
-41 bps -153 bps
8.0% 9.5% 8.4% EPS (₹)
+6.6% -17.2%
10.96 13.23 10.28
Quality of profit
Pre-tax profit ₹718 Cr: core business ₹686 Cr, other income ₹32.0 Cr.
Core profit YoY: +12.6%
· reported profit +7.3%
Cash & debt
FY26 cash from operations ₹2,622 Cr:
95% of FY26 net profit of ₹2,773 Cr.
Borrowings nil at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹6,787 ₹6,825
+0.6% in line Net profit ₹551 ₹547
-0.8% in line
M Cap ₹81,800 Cr
P/E 42.6
PEG 1.37
Profit +38% above its own trend Operating margin expanded 360 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+30.5% +5.2%
4,450 4,232 3,410 Operating profit
+59.7% +20.0%
876 730 548 OPM %
+360 bps +244 bps
19.7% 17.2% 16.1% Other income
loss widened loss narrowed -32.0 -127 -29.7 Net profit?
+117.7% +124.2%
666 297 306 PAT margin %
+600 bps +795 bps
15.0% 7.0% 9.0% EPS (₹)
+128.2% +144.0%
18.23 7.47 7.99
Quality of profit
Pre-tax profit ₹625 Cr: core business ₹656 Cr, other income −₹32.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +71.3%
· reported profit +117.7%
Cash & debt
FY26 cash from operations ₹1,792 Cr:
103% of FY26 net profit of ₹1,744 Cr.
Borrowings ₹728 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹4,684 ₹4,450
-5.0% below Net profit ₹482 ₹666
+38.1% above
M Cap ₹81,765 Cr
P/E 28.7
PEG 0.90
Profit +138% above its own trend Operating margin expanded 1127 bps YoY 36% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +746%) Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+21.3% +6.9%
3,850 3,601 3,174 Operating profit
+503.3% -38.8%
543 887 90.0 OPM %
+1127 bps -1053 bps
14.1% 24.6% 2.8% Other income
-8.6% +8.1%
283 262 310 Net profit?
+107.2% -23.4%
674 880 325 PAT margin %
+726 bps -692 bps
17.5% 24.4% 10.2% EPS (₹)
+108.9% -22.8%
16.84 21.81 8.06
Quality of profit
Pre-tax profit ₹793 Cr: core business ₹510 Cr, other income ₹283 Cr.
Core profit YoY: +745.8%
· reported profit +107.2%
Cash & debt
FY26 cash from operations −₹2,891 Cr:
-105% of FY26 net profit of ₹2,755 Cr.
Borrowings ₹447 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹3,455 ₹3,850
+11.4% above Net profit ₹283 ₹674
+138.2% above
M Cap ₹81,068 Cr
P/E 17.0
PEG 1.54
Profit +21% above its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Total income
+12.0% +7.4%
9,133 8,503 8,155 Net interest income
+33.7% +19.8%
3,545 2,960 2,652 Other income
+13.3% +3.8%
1,186 1,143 1,047 Net profit?
+24.3% +27.2%
1,392 1,094 1,120 EPS (₹)
+22.5% +22.2%
5.44 4.45 4.44 Gross NPA %
-22 bps -10 bps
1.6% 1.7% 1.8% Net NPA %
-24 bps -22 bps
0.2% 0.4% 0.4%
Against its own trend ?
Trend Actual Gap
NII ₹2,871 ₹3,545
+23.5% above Net profit ₹1,153 ₹1,392
+20.8% above
M Cap ₹79,292 Cr
P/E 131.0
PEG 2.91
Profit -57% below its own trend Operating margin contracted 522 bps YoY Core business grew faster than reported profit (core profit +12%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+46.7% +39.8%
913 653 622 Operating profit
+38.2% +44.7%
774 535 560 OPM %
-522 bps +285 bps
84.8% 81.9% 90.0% Other income
-62.8% +54.8%
48.0 31.0 129 Net profit?
-15.5% —
197 17.0 233 PAT margin %
-1590 bps +1897 bps
21.6% 2.6% 37.5% EPS (₹)
-17.9% —
0.23 0.02 0.28
Quality of profit
Pre-tax profit ₹247 Cr: core business ₹199 Cr, other income ₹48.0 Cr.
Core profit YoY: +12.4%
· reported profit -15.5%
Cash & debt
FY26 cash from operations ₹2,386 Cr:
458% of FY26 net profit of ₹521 Cr.
Borrowings ₹31,716 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹759 ₹913
+20.3% above Net profit ₹457 ₹197
-56.9% below
M Cap ₹79,260 Cr
P/E 4.9
PEG 0.38
Profit -27% below its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Total income
-5.0% -3.2%
14,584 15,059 15,348 Net interest income
— —
5,633 — — Other income
— —
20.0 — — Net profit?
-21.7% -16.7%
3,375 4,052 4,310 EPS (₹)
-21.1% -16.7%
12.82 15.39 16.24
Against its own trend ?
Trend Actual Gap
Net profit ₹4,633 ₹3,375
-27.2% below
M Cap ₹78,873 Cr
P/E 48.2
PEG 4.38
Profit -50% below its own trend Operating margin contracted 314 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+10.3% +27.1%
6,101 4,801 5,532 Operating profit
-3.1% +46.1%
1,384 947 1,429 OPM %
-314 bps +296 bps
22.7% 19.7% 25.8% Other income
-36.0% -30.8%
101 146 158 Net profit?
-8.2% +97.0%
528 268 575 PAT margin %
-174 bps +307 bps
8.7% 5.6% 10.4% EPS (₹)
-8.5% +97.1%
145.70 73.92 159.17
Quality of profit
Pre-tax profit ₹667 Cr: core business ₹566 Cr, other income ₹101 Cr.
Core profit YoY: -5.6%
· reported profit -8.2%
Cash & debt
FY26 cash from operations ₹3,794 Cr:
217% of FY26 net profit of ₹1,750 Cr.
Borrowings ₹1,868 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹5,755 ₹6,101
+6.0% above Net profit ₹1,063 ₹528
-50.3% below
M Cap ₹78,565 Cr
P/E 51.8
PEG 1.79
Profit -32% below its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+18.6% +12.8%
1,522 1,350 1,283 Operating profit
+20.0% +19.5%
769 644 641 OPM %
+56 bps +283 bps
50.5% 47.7% 50.0% Other income
-80.9% -71.5%
17.0 59.7 89.0 Net profit?
-17.8% +16.2%
424 365 516 PAT margin %
-1236 bps +83 bps
27.9% 27.0% 40.2% EPS (₹)
-18.1% +15.7%
1.99 1.72 2.43
Quality of profit
Pre-tax profit ₹498 Cr: core business ₹481 Cr, other income ₹17.0 Cr.
Core profit YoY: -2.4%
· reported profit -17.8%
Cash & debt
FY26 cash from operations ₹2,022 Cr:
131% of FY26 net profit of ₹1,547 Cr.
Borrowings ₹6,899 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,528 ₹1,522
-0.4% in line Net profit ₹619 ₹424
-31.5% below
M Cap ₹77,981 Cr
P/E 40.8
PEG 0.45
Profit -44% below its own trend Operating margin expanded 474 bps YoY 66% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +53%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+26.5% +13.7%
869 765 687 Operating profit
+44.3% +12.3%
334 297 232 OPM %
+474 bps -45 bps
38.4% 38.9% 33.7% Other income
+4.8% +320.6%
572 136 546 Net profit?
+11.5% +138.5%
756 317 678 PAT margin %
-1168 bps +4554 bps
87.0% 41.5% 98.7% EPS (₹)
+22.1% +108.4%
8.73 4.19 7.15
Quality of profit
Pre-tax profit ₹869 Cr: core business ₹297 Cr, other income ₹572 Cr.
Core profit YoY: +52.7%
· reported profit +11.5%
Cash & debt
FY26 cash from operations ₹1,076 Cr:
61% of FY26 net profit of ₹1,764 Cr.
Borrowings ₹259 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹764 ₹869
+13.7% above Net profit ₹1,356 ₹756
-44.2% below
M Cap ₹76,975 Cr
P/E 37.0
PEG 0.48
Profit -66% below its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+2.1% -1.5%
10,511 10,672 10,293 Operating profit
-7.9% -1.6%
408 414 443 OPM %
-42 bps -0 bps
3.9% 3.9% 4.3% Other income
-66.0% -31.5%
90.0 131 265 Net profit?
-35.9% -7.0%
298 321 465 PAT margin %
-168 bps -17 bps
2.8% 3.0% 4.5% EPS (₹)
-36.6% -20.5%
42.17 53.06 66.54
Quality of profit
Pre-tax profit ₹370 Cr: core business ₹279 Cr, other income ₹90.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: -12.6%
· reported profit -35.9%
Cash & debt
FY26 cash from operations ₹1,782 Cr:
108% of FY26 net profit of ₹1,644 Cr.
Borrowings ₹994 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹16,668 ₹10,511
-36.9% below Net profit ₹887 ₹298
-66.4% below
M Cap ₹76,065 Cr
P/E 41.7
PEG 0.89
Profit -45% below its own trend Operating margin expanded 147 bps YoY Core business grew faster than reported profit (core profit +19%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+5.5% +2.3%
2,414 2,360 2,289 Operating profit
+8.5% +1.0%
1,267 1,254 1,168 OPM %
+147 bps -67 bps
52.5% 53.2% 51.0% Other income
+10.9% +41.3%
53.0 37.5 47.8 Net profit
-4.6% -5.6%
447 474 468 PAT margin %
-195 bps -156 bps
18.5% 20.1% 20.5% EPS (₹)
-4.7% -5.7%
8.93 9.47 9.37
Quality of profit
Pre-tax profit ₹606 Cr: core business ₹553 Cr, other income ₹53.0 Cr.
Core profit YoY: +18.8%
· reported profit -4.6%
Cash & debt
FY26 cash from operations ₹4,464 Cr:
258% of FY26 net profit of ₹1,734 Cr.
Borrowings ₹6,137 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹2,620 ₹2,414
-7.9% below Net profit ₹815 ₹447
-45.2% below
M Cap ₹75,789 Cr
P/E 64.2
PEG 4.01
Profit -19% below its own trend Operating margin contracted 128 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+26.7% +20.5%
6,603 5,480 5,210 Operating profit
+8.3% +11.6%
496 444 458 OPM %
-128 bps -60 bps
7.5% 8.1% 8.8% Other income
-29.4% -21.6%
12.0 15.3 17.0 Net profit?
+1.2% +21.1%
253 209 250 PAT margin %
-97 bps +2 bps
3.8% 3.8% 4.8% EPS (₹)
+1.4% +21.3%
63.09 52.01 62.23
Quality of profit
Pre-tax profit ₹329 Cr: core business ₹317 Cr, other income ₹12.0 Cr.
Core profit YoY: -1.6%
· reported profit +1.2%
Cash & debt
FY26 cash from operations ₹968 Cr:
99% of FY26 net profit of ₹977 Cr.
Borrowings ₹956 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹6,252 ₹6,603
+5.6% above Net profit ₹312 ₹253
-18.8% below
M Cap ₹73,758 Cr
P/E 34.1
PEG —
Profit -33% below its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+7.0% +24.3%
4,615 3,713 4,313 Operating profit
+7.2% +31.5%
1,026 780 957 OPM %
+4 bps +122 bps
22.2% 21.0% 22.2% Other income
-62.3% from loss 13.0 -46.0 34.5 Net profit?
+10.6% +34.4%
582 433 526 PAT margin %
+41 bps +95 bps
12.6% 11.7% 12.2% EPS (₹)
+10.6% +34.5%
19.63 14.60 17.75
Quality of profit
Pre-tax profit ₹757 Cr: core business ₹744 Cr, other income ₹13.0 Cr.
Core profit YoY: +10.6%
· reported profit +10.6%
Cash & debt
FY26 cash from operations ₹2,554 Cr:
139% of FY26 net profit of ₹1,836 Cr.
Borrowings ₹5,083 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹4,671 ₹4,615
-1.2% in line Net profit ₹871 ₹582
-33.2% below
M Cap ₹73,731 Cr
P/E 17.3
PEG —
Profit +56% above its own trend Operating margin contracted 2383 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+20.0% +26.8%
2,816 2,221 2,347 Operating profit
-41.6% +201.0%
637 212 1,090 OPM %
-2383 bps +1309 bps
22.6% 9.5% 46.5% Other income
-6.0% +12.5%
306 272 325 Net profit?
+68.4% +383.2%
1,549 321 920 PAT margin %
+1582 bps +4057 bps
55.0% 14.4% 39.2% EPS (₹)
+70.6% +559.1%
1.45 0.22 0.85
Quality of profit
Pre-tax profit −₹274 Cr: core business −₹579 Cr, other income ₹306 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: to loss
· reported profit +68.4%
Cash & debt
FY26 cash from operations ₹3,294 Cr:
78% of FY26 net profit of ₹4,220 Cr.
Borrowings ₹52,327 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹2,694 ₹2,816
+4.5% in line Net profit ₹994 ₹1,549
+55.9% above
M Cap ₹73,676 Cr
P/E 31.8
PEG 0.27
Profit -64% below its own trend 28% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +27%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+9.9% -4.8%
4,313 4,532 3,925 Operating profit
+9.6% -18.2%
504 616 460 OPM %
-3 bps -191 bps
11.7% 13.6% 11.7% Other income
-75.1% +18.3%
142 120 570 Net profit?
-46.9% -18.6%
371 456 699 PAT margin %
-921 bps -146 bps
8.6% 10.1% 17.8% EPS (₹)
-47.3% -18.2%
14.04 17.16 26.62
Quality of profit
Pre-tax profit ₹504 Cr: core business ₹362 Cr, other income ₹142 Cr.
Core profit YoY: +27.0%
· reported profit -46.9%
Cash & debt
FY26 cash from operations ₹3,204 Cr:
198% of FY26 net profit of ₹1,620 Cr.
Borrowings ₹2,355 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹4,682 ₹4,313
-7.9% below Net profit ₹1,040 ₹371
-64.3% below
M Cap ₹73,233 Cr
P/E 25.6
PEG 1.11
Profit +37% above its own trend Gross NPA down 25 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Total income
+14.3% +5.5%
5,750 5,451 5,031 Net interest income
+23.3% +10.3%
2,582 2,341 2,094 Other income
-3.9% +1.0%
731 724 761 Net profit
+65.2% +24.6%
832 668 504 EPS (₹)
+64.3% +24.4%
11.12 8.94 6.77 Gross NPA %
-25 bps -27 bps
2.0% 2.3% 2.3% Net NPA %
+0 bps -14 bps
0.7% 0.9% 0.7%
Against its own trend ?
Trend Actual Gap
NII ₹2,349 ₹2,582
+9.9% above Net profit ₹609 ₹832
+36.6% above
M Cap ₹71,823 Cr
P/E 9.5
PEG —
Profit +82% above its own trend Operating margin expanded 547 bps YoY 29% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +6%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-3.1% +2.0%
9,293 9,111 9,588 Operating profit
+14.7% +30.7%
3,281 2,510 2,860 OPM %
+547 bps +776 bps
35.3% 27.5% 29.8% Other income
+140.4% +40.0%
919 657 382 Net profit?
+61.9% +68.8%
2,424 1,436 1,497 PAT margin %
+1047 bps +1032 bps
26.1% 15.8% 15.6% EPS (₹)
+60.4% +75.6%
12.91 7.35 8.05
Quality of profit
Pre-tax profit ₹3,119 Cr: core business ₹2,201 Cr, other income ₹919 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +5.7%
· reported profit +61.9%
Cash & debt
FY26 cash from operations ₹10,684 Cr:
141% of FY26 net profit of ₹7,551 Cr.
Borrowings ₹37,478 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹9,327 ₹9,293
-0.4% in line Net profit ₹1,332 ₹2,424
+82.0% above
M Cap ₹70,697 Cr
P/E 42.3
PEG 0.64
Profit -11% below its own trend Operating margin expanded 273 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+4.8% -0.2%
1,14,937 1,15,153 1,09,633 Operating profit
+58.9% +31.6%
9,211 6,998 5,795 OPM %
+273 bps +194 bps
8.0% 6.1% 5.3% Other income
+106.9% +162.7%
1,910 727 923 Net profit?
+77.6% +51.2%
6,065 4,011 3,415 PAT margin %
+216 bps +179 bps
5.3% 3.5% 3.1% EPS (₹)
+77.6% +51.2%
28.50 18.85 16.05
Quality of profit
Pre-tax profit ₹7,644 Cr: core business ₹5,734 Cr, other income ₹1,910 Cr.
Core profit YoY: +67.9%
· reported profit +77.6%
Cash & debt
FY26 cash from operations ₹36,111 Cr:
200% of FY26 net profit of ₹18,046 Cr.
Borrowings ₹55,964 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,06,415 ₹1,14,937
+8.0% above Net profit ₹6,830 ₹6,065
-11.2% below
M Cap ₹70,632 Cr
P/E 16.5
PEG 0.66
Profit -22% below its own trend Operating margin expanded 242 bps YoY Core business grew faster than reported profit (core profit +77%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+5.1% +12.6%
30,813 27,371 29,316 Operating profit
+26.5% +92.2%
4,409 2,294 3,484 OPM %
+242 bps +593 bps
14.3% 8.4% 11.9% Other income
-44.2% -18.5%
202 248 362 Net profit?
+46.7% +390.6%
1,835 374 1,251 PAT margin %
+169 bps +459 bps
6.0% 1.4% 4.3% EPS (₹)
+46.5% +387.9%
4.44 0.91 3.03
Quality of profit
Pre-tax profit ₹2,502 Cr: core business ₹2,300 Cr, other income ₹202 Cr.
Core profit YoY: +77.5%
· reported profit +46.7%
Cash & debt
FY26 cash from operations ₹19,039 Cr:
565% of FY26 net profit of ₹3,372 Cr.
Borrowings ₹31,928 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹31,697 ₹30,813
-2.8% in line Net profit ₹2,344 ₹1,835
-21.7% below
M Cap ₹68,495 Cr
P/E 29.7
PEG —
Gross NPA down 26 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Total income
+7.7% -2.9%
12,183 12,542 11,308 Net interest income
+15.7% +3.4%
5,677 5,493 4,908 Other income
-14.0% -23.3%
1,630 2,125 1,895 Net profit?
+12.0% -30.8%
331 479 296 EPS (₹)
-5.0% -29.6%
0.38 0.54 0.40 Gross NPA %
-26 bps -8 bps
1.6% 1.7% 1.9% Net NPA %
-5 bps -5 bps
0.5% 0.5% 0.5%
Against its own trend ?
Trend Actual Gap
NII ₹5,314 ₹5,677
+6.8% above Net profit ₹312 ₹331
+6.0% in line
M Cap ₹67,704 Cr
P/E 25.1
PEG 0.93
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Total income
+15.7% +0.6%
2,903 2,886 2,508 Net interest income
— —
1,141 — — Other income
— —
0.0 — — Net profit
+14.0% +0.6%
669 665 587 EPS (₹)
+14.3% +0.0%
0.80 0.80 0.70 Gross NPA %
-2 bps +0 bps
0.3% 0.3% 0.3% Net NPA %
+0 bps +0 bps
0.1% 0.1% 0.1%
Against its own trend ?
Trend Actual Gap
Net profit ₹710 ₹669
-5.8% in line
M Cap ₹67,454 Cr
P/E 16.9
PEG 0.17
Profit -13% below its own trend Operating margin contracted 445 bps YoY FY26 operating cash flow was only 42% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+111.8% +12.1%
8,480 7,565 4,004 Operating profit
+70.9% -18.2%
1,577 1,928 923 OPM %
-445 bps -689 bps
18.6% 25.5% 23.0% Other income
+31.4% from loss 180 -99.0 137 Net profit?
+74.7% +1.7%
1,126 1,107 644 PAT margin %
-282 bps -135 bps
13.3% 14.6% 16.1% EPS (₹)
+70.9% -0.1%
36.89 36.94 21.59
Quality of profit
Pre-tax profit ₹1,408 Cr: core business ₹1,228 Cr, other income ₹180 Cr.
Core profit YoY: +72.4%
· reported profit +74.7%
Cash & debt
FY26 cash from operations ₹1,627 Cr:
42% of FY26 net profit of ₹3,884 Cr.
Borrowings ₹3,213 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹6,128 ₹8,480
+38.4% above Net profit ₹1,289 ₹1,126
-12.6% below
M Cap ₹67,229 Cr
P/E 41.8
PEG 1.61
Profit +28% above its own trend Operating margin contracted 2632 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
-79.7% -86.1%
3,185 22,834 15,687 Operating profit
to loss to loss -754 741 415 OPM %
-2632 bps -2692 bps
-23.7% 3.2% 2.6% Other income
+466.1% from loss 1,036 -243 183 Net profit?
+62.1% +61.2%
624 387 385 PAT margin %
+1714 bps +1790 bps
19.6% 1.7% 2.5% EPS (₹)
+61.0% +61.0%
4.30 2.67 2.67
Quality of profit
Pre-tax profit ₹281 Cr: core business −₹754 Cr, other income ₹1,036 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: to loss
· reported profit +62.1%
Cash & debt
FY26 cash from operations −₹5,355 Cr:
-333% of FY26 net profit of ₹1,608 Cr.
Borrowings ₹2,595 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹13,318 ₹3,185
-76.1% below Net profit ₹488 ₹624
+27.9% above
M Cap ₹66,461 Cr
P/E 50.3
PEG —
Turnaround: profit against a loss a year ago Gross NPA up 30 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Total income
+12.1% -2.8%
12,719 13,080 11,343 Net interest income
— -4.2%
4,371 4,562 — Other income
— +0.4%
1,714 1,707 — Net profit?
from loss +364.1%
594 128 -2,329 EPS (₹)
from loss +365.2%
7.63 1.64 -29.89 Gross NPA %
+30 bps -13 bps
3.4% 3.6% 3.1% Net NPA %
+5 bps -4 bps
1.0% 1.0% 0.9%
How to read this page
The numbers. Each card is one company's Q4 FY26 results as filed with NSE or BSE, read from the
filing within hours of its release, in ₹ crore. We show the consolidated statement, or the standalone one when
the consolidated figures are a copy of it or have no year-ago quarter to compare with. YoY compares with the same
quarter a year earlier and QoQ with the quarter before (the previous half-year for companies that report every six months).
A swing between profit and loss is described in words: a percentage across it would mislead.
Net profit. On a consolidated statement, net profit is the profit of the whole group for the quarter,
before minority interest. A company's own headline, and the AI read of its filing, often quote the profit
attributable to its shareholders instead, which is lower when subsidiaries are partly owned: Larsen & Toubro's
Q1 FY27 group profit was ₹4,988 Cr, of which ₹4,123 Cr belonged to its shareholders. EPS is worked out on that
attributable profit, so EPS and net profit need not grow at the same rate. On a standalone statement the two
are the same.
Margins. Operating margin (OPM) is operating profit, before depreciation, interest and other income,
as a share of sales; PAT margin is net profit as a share of sales. Their changes are in basis points
(100 bps = 1 percentage point).
Quality of profit. Core profit is operating profit minus interest and depreciation: what the business
itself earned before tax. The rest of pre-tax profit is other income (interest on cash, dividends, gains on
investments) and exceptional or one-off items. We flag a quarter when that share is 25% or more,
and when reported profit grew much faster than core profit. For banks we compare pre-provision profit with net
profit, since a fall in provisions can lift profit without the business growing.
Against its own trend. We do not have analyst consensus estimates, and we do not make them up. Instead
each company is measured against the path it was on: the same quarter last year, grown at the median of its
last four year-on-year growth rates (held between −50% and +100%; at least two growth rates needed). Sales
5% or more above that, or net profit 10% or more above, is "above trend";
as far below is "below trend". It answers "was this quarter better or worse than the company's own recent
run?", which consensus does not.
Cash and debt. Profit is an accounting figure; cash is harder to dress up. For each company we show
its operating cash flow for the last financial year as a share of that year's net profit (flagged under
50%, or when it is negative despite a profit), and its borrowings at the latest balance sheet
against the one six months earlier (flagged at a 25% move). Balance sheets come with the
September and March results, cash-flow statements with the March results.
Price since results. The latest close against the last close before the filing (a filing after 3:30 pm
counts from the next session). It is a fact about the market's reaction, not advice.
Market cap groups. Large cap is the 100 largest companies by market value and mid cap the next 150
(SEBI's ranking); below that, small cap is ₹5,000 Cr or more, micro cap ₹500 Cr or more, nano cap below.
Data source Quarterly results filed by listed companies with NSE and BSE (Regulation 33 of SEBI LODR), read from each filing; share prices from the exchanges; market cap and P/E from our daily fundamentals snapshot.
Last updated 13 Oct 2026, 15:48 IST
