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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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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Into loss: a profit a year ago Operating margin contracted 747 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+30.0% +54.9%
58.5 37.7 45.0 Operating profit
-69.6% from loss 1.3 -2.3 4.4 OPM %
-747 bps +844 bps
2.3% -6.2% 9.7% Other income
+149.8% +69.7%
0.8 0.4 0.3 Net profit?
to loss loss narrowed -5.0 -7.1 0.5 PAT margin %
-968 bps +1034 bps
-8.5% -18.9% 1.2% EPS (₹)
to loss loss narrowed -3.32 -6.88 0.13
Quality of profit
Pre-tax profit −₹5.1 Cr: core business −₹5.8 Cr, other income ₹0.8 Cr.
Core profit YoY: to loss
Against its own trend ?
Trend Actual Gap
Sales ₹50.1 ₹58.5
+16.6% above
M Cap ₹163 Cr
P/E 22.4
PEG 0.37
Profit -13% below its own trend Operating margin expanded 561 bps YoY
₹ Cr YoY vs prev. half
Mar 2026 Sep 2025 Mar 2025
Sales
+13.2% +65.8%
48.7 29.4 43.0 Operating profit
+84.3% +622.4%
7.1 1.0 3.8 OPM %
+561 bps +1120 bps
14.5% 3.3% 8.9% Other income
+3.2% -45.2%
0.9 1.7 0.9 Net profit
+74.8% +238.6%
5.6 1.7 3.2 PAT margin %
+407 bps +589 bps
11.5% 5.7% 7.5% EPS (₹)
+74.7% +238.0%
4.63 1.37 2.65
Quality of profit
Pre-tax profit ₹7.5 Cr: core business ₹6.6 Cr, other income ₹0.9 Cr.
Core profit YoY: +92.4%
· reported profit +74.8%
Cash & debt
FY26 cash from operations ₹17.6 Cr.
Borrowings ₹1.9 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹73.9 ₹48.7
-34.1% below Net profit ₹6.4 ₹5.6
-12.6% below
Operating margin contracted 1446 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-13.8% -1.2%
43.0 43.5 49.9 Operating profit
to loss loss widened -5.4 -1.8 1.0 OPM %
-1446 bps -847 bps
-12.5% -4.0% 2.0% Other income
-100.0% —
0.0 0.0 0.0 Net profit
loss widened loss widened -6.3 -2.8 -0.1 PAT margin %
-1463 bps -834 bps
-14.7% -6.4% -0.1% EPS (₹)
loss widened loss widened -2.44 -1.07 -0.02
Quality of profit
Pre-tax profit −₹6.3 Cr: core business −₹6.3 Cr, other income ₹0.0 Cr.
Core profit YoY: loss widened
Cash & debt
FY26 cash from operations ₹16.0 Cr.
Borrowings ₹12.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹38.0 ₹43.0
+13.0% above
M Cap ₹160 Cr
P/E 2.6
PEG 0.04
Profit +97% above its own trend Operating margin expanded 240 bps YoY Core business grew faster than reported profit (core profit +449%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+61.9% +27.3%
735 577 454 Operating profit
+216.9% +25.9%
36.0 28.6 11.4 OPM %
+240 bps -5 bps
4.9% 5.0% 2.5% Other income
-39.9% +80.3%
1.0 0.6 1.7 Net profit?
+293.2% +40.2%
18.0 12.8 4.6 PAT margin %
+144 bps +22 bps
2.4% 2.2% 1.0% EPS (₹)
+304.2% +44.1%
5.78 4.01 1.43
Quality of profit
Pre-tax profit ₹24.0 Cr: core business ₹24.0 Cr, other income ₹1.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +448.7%
· reported profit +293.2%
Cash & debt
FY26 cash from operations ₹59.0 Cr:
119% of FY26 net profit of ₹49.7 Cr.
Borrowings ₹259 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹621 ₹735
+18.3% above Net profit ₹9.2 ₹18.0
+96.6% above
M Cap ₹160 Cr
P/E 1063.8
PEG —
Operating margin contracted 112 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-30.1% +192.7%
49.3 16.8 70.6 Operating profit
loss widened loss narrowed -0.9 -5.7 -0.5 OPM %
-112 bps +3184 bps
-1.9% -33.7% -0.8% Other income
-96.7% -98.2%
0.0 2.2 1.2 Net profit?
loss narrowed loss narrowed -3.0 -6.0 -3.5 PAT margin %
-105 bps +2939 bps
-6.1% -35.5% -5.0% EPS (₹)
loss narrowed loss narrowed -4.85 -9.27 -5.94
Quality of profit
Pre-tax profit −₹4.2 Cr: core business −₹4.3 Cr, other income ₹0.0 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY26 cash from operations ₹18.0 Cr.
Borrowings ₹8.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹101 ₹49.3
-51.3% below
M Cap ₹160 Cr
P/E 18.4
PEG —
Profit +34% above its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+8.8% +4.3%
117 112 108 Operating profit
+9.7% -3.3%
10.8 11.1 9.8 OPM %
+7 bps -72 bps
9.2% 9.9% 9.1% Other income
+266.7% +77.4%
0.1 0.1 0.0 Net profit?
+65.3% +117.5%
2.4 1.1 1.5 PAT margin %
+71 bps +108 bps
2.1% 1.0% 1.4% EPS (₹)
+57.5% +117.2%
1.26 0.58 0.80
Quality of profit
Pre-tax profit ₹3.3 Cr: core business ₹3.2 Cr, other income ₹0.1 Cr.
Core profit YoY: +56.8%
· reported profit +65.3%
Cash & debt
FY26 cash from operations ₹9.0 Cr:
114% of FY26 net profit of ₹7.9 Cr.
Borrowings ₹176 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹123 ₹117
-4.6% in line Net profit ₹1.8 ₹2.4
+34.0% above
M Cap ₹159 Cr
P/E 10.6
PEG 0.62
Operating margin contracted 123 bps YoY Core business grew faster than reported profit (core profit +80%)
₹ Cr YoY vs prev. half
Mar 2026 Sep 2025 Mar 2025
Sales
+86.5% -4.0%
97.0 101 52.0 Operating profit
+66.7% -16.7%
10.0 12.0 6.0 OPM %
-123 bps -157 bps
10.3% 11.9% 11.5% Other income
to loss to loss -1.0 1.0 1.0 Net profit?
+50.0% -33.3%
6.0 9.0 4.0 PAT margin %
-151 bps -273 bps
6.2% 8.9% 7.7% EPS (₹)
+43.7% -15.0%
1.02 1.20 0.71
Quality of profit
Pre-tax profit ₹8.0 Cr: core business ₹9.0 Cr, other income −₹1.0 Cr.
Core profit YoY: +80.0%
· reported profit +50.0%
Cash & debt
FY26 cash from operations ₹6.0 Cr.
Borrowings ₹10.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹99.8 ₹97.0
-2.8% in line Net profit ₹6.1 ₹6.0
-1.6% in line
M Cap ₹158 Cr
P/E 17.3
PEG —
Profit +559% above its own trend Core business grew faster than reported profit (core profit +538%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+45.1% +34.4%
133 98.7 91.5 Operating profit
+64.2% +28.0%
8.8 6.9 5.4 OPM %
+77 bps -33 bps
6.6% 7.0% 5.9% Other income
-35.1% +362.5%
0.4 0.1 0.6 Net profit
+229.6% +74.6%
3.2 1.9 1.0 PAT margin %
+136 bps +56 bps
2.4% 1.9% 1.1% EPS (₹)
+230.4% +72.7%
0.76 0.44 0.23
Quality of profit
Pre-tax profit ₹4.6 Cr: core business ₹4.2 Cr, other income ₹0.4 Cr.
Core profit YoY: +537.9%
· reported profit +229.6%
Against its own trend ?
Trend Actual Gap
Sales ₹95.4 ₹133
+39.1% above Net profit ₹0.5 ₹3.2
+559.2% above
M Cap ₹158 Cr
P/E 21.8
PEG 0.62
Profit -25% below its own trend Operating margin expanded 325 bps YoY Core business grew faster than reported profit (core profit +129%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+2.7% -4.1%
84.1 87.7 81.9 Operating profit
+38.5% +10.8%
10.6 9.5 7.6 OPM %
+325 bps +170 bps
12.6% 10.9% 9.3% Other income
to loss to loss -0.2 0.3 1.1 Net profit?
-33.6% +101.0%
3.6 1.8 5.4 PAT margin %
-234 bps +224 bps
4.3% 2.0% 6.6% EPS (₹)
-33.8% +100.9%
2.25 1.12 3.40
Quality of profit
Pre-tax profit ₹3.2 Cr: core business ₹3.5 Cr, other income −₹0.2 Cr.
Core profit YoY: +129.1%
· reported profit -33.6%
Cash & debt
FY26 cash from operations ₹30.0 Cr:
475% of FY26 net profit of ₹6.3 Cr.
Borrowings ₹160 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹77.4 ₹84.1
+8.7% above Net profit ₹4.8 ₹3.6
-25.5% below
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-35.7% -68.8%
44.0 141 68.4 Operating profit
loss narrowed loss widened -59.0 -1.7 -60.8 Other income
— —
40.0 2.7 3.5 Net profit?
loss narrowed loss widened -31.0 -7.1 -42.1 PAT margin %
-891 bps -6542 bps
-70.5% -5.0% -61.5% EPS (₹)
loss narrowed loss widened -29.41 -6.77 -40.09
Quality of profit
Pre-tax profit −₹29.0 Cr: core business −₹69.0 Cr, other income ₹40.0 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY26 cash from operations ₹28.0 Cr.
Borrowings ₹253 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹79.6 ₹44.0
-44.8% below
M Cap ₹158 Cr
P/E 9.5
PEG 1.36
31% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +68%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+20.3% +11.1%
210 189 175 Operating profit
+6.4% +11.8%
13.4 12.0 12.6 OPM %
-83 bps +4 bps
6.4% 6.3% 7.2% Other income
+224.2% +311.5%
2.1 0.5 0.7 Net profit
+196.5% +97.3%
5.1 2.6 1.7 PAT margin %
+143 bps +105 bps
2.4% 1.4% 1.0% EPS (₹)
+197.3% +97.6%
3.30 1.67 1.11
Quality of profit
Pre-tax profit ₹6.8 Cr: core business ₹4.7 Cr, other income ₹2.1 Cr.
Core profit YoY: +68.5%
· reported profit +196.5%
Cash & debt
FY26 cash from operations ₹29.0 Cr:
176% of FY26 net profit of ₹16.5 Cr.
Borrowings ₹73.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹203 ₹210
+3.4% in line
M Cap ₹157 Cr
P/E 79.5
PEG —
Profit -56% below its own trend 68% 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
+4.7% -2.4%
252 258 241 Operating profit
-31.3% —
3.6 0.1 5.2 OPM %
-75 bps +137 bps
1.4% 0.1% 2.2% Other income
-1.2% +59.1%
4.2 2.6 4.2 Net profit?
-75.4% -8.7%
0.6 0.7 2.6 PAT margin %
-81 bps -2 bps
0.3% 0.3% 1.1% EPS (₹)
-75.9% -9.1%
0.20 0.22 0.83
Quality of profit
Pre-tax profit ₹6.2 Cr: core business ₹2.0 Cr, other income ₹4.2 Cr.
Core profit YoY: -6.2%
· reported profit -75.4%
Cash & debt
FY26 cash from operations −₹9.0 Cr:
-455% of FY26 net profit of ₹2.0 Cr.
Borrowings ₹10.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹251 ₹252
+0.3% in line Net profit ₹1.4 ₹0.6
-56.1% below
M Cap ₹156 Cr
P/E 26.0
PEG 3.25
Operating margin contracted 230 bps YoY 50% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -67%)
₹ Cr YoY vs prev. half
Mar 2026 Sep 2025 Mar 2025
Sales
+0.0% -10.3%
87.0 97.0 87.0 Operating profit
-50.0% -33.3%
2.0 3.0 4.0 OPM %
-230 bps -79 bps
2.3% 3.1% 4.6% Other income
— -80.0%
1.0 5.0 0.0 Net profit
+0.0% -80.0%
1.0 5.0 1.0 PAT margin %
+0 bps -401 bps
1.1% 5.2% 1.1% EPS (₹)
-10.1% -71.7%
0.89 3.15 0.99
Quality of profit
Pre-tax profit ₹2.0 Cr: core business ₹1.0 Cr, other income ₹1.0 Cr.
Core profit YoY: -66.7%
· reported profit +0.0%
Cash & debt
FY26 cash from operations ₹3.0 Cr.
Borrowings ₹8.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹90.6 ₹87.0
-3.9% in line
M Cap ₹156 Cr
P/E 12.6
PEG 0.70
Core business grew faster than reported profit (core profit +79%) FY26 operating cash flow was only 36% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+18.7% +16.1%
142 123 120 Operating profit
+37.5% +9.7%
8.9 8.2 6.5 OPM %
+86 bps -37 bps
6.3% 6.7% 5.4% Other income
to loss to loss -0.5 0.3 0.4 Net profit
+10.5% +1.7%
3.0 2.9 2.7 PAT margin %
-15 bps -29 bps
2.1% 2.4% 2.2% EPS (₹)
+12.1% +2.8%
0.37 0.36 0.33
Quality of profit
Pre-tax profit ₹4.6 Cr: core business ₹5.1 Cr, other income −₹0.5 Cr.
Core profit YoY: +78.5%
· reported profit +10.5%
Cash & debt
FY26 cash from operations ₹4.0 Cr:
36% of FY26 net profit of ₹11.0 Cr.
Borrowings ₹62.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹133 ₹142
+7.3% above Net profit ₹3.1 ₹3.0
-5.7% in line
M Cap ₹155 Cr
P/E 22.8
PEG 0.53
Profit +79% above its own trend Operating margin expanded 318 bps YoY Profit grew faster than the core business (core profit +54%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+3.9% +1.4%
27.8 27.4 26.8 Operating profit
+12.2% -2.4%
11.9 12.2 10.6 OPM %
+318 bps -165 bps
42.9% 44.5% 39.7% Other income
-35.3% -15.4%
0.3 0.4 0.5 Net profit
+118.2% +6.3%
1.7 1.6 0.8 PAT margin %
+316 bps +28 bps
6.0% 5.8% 2.9% EPS (₹)
+113.3% +6.7%
0.32 0.30 0.15
Quality of profit
Pre-tax profit ₹1.7 Cr: core business ₹1.4 Cr, other income ₹0.3 Cr.
Core profit YoY: +53.9%
· reported profit +118.2%
Cash & debt
FY26 cash from operations ₹22.0 Cr:
328% of FY26 net profit of ₹6.7 Cr.
Borrowings ₹105 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹31.0 ₹27.8
-10.3% below Net profit ₹0.9 ₹1.7
+78.7% above
M Cap ₹155 Cr
P/E 4.0
PEG 1.98
Operating margin expanded 3905 bps YoY Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-92.4% -78.1%
2.2 10.3 29.8 Operating profit
from loss -88.3%
0.8 7.3 -0.4 OPM %
+3905 bps -3297 bps
37.8% 70.7% -1.3% Other income
to loss to loss -5.4 0.3 0.6 Net profit?
loss widened to loss -8.4 36.1 -4.5 EPS (₹)
loss widened to loss -4.25 19.42 -2.27
Quality of profit
Pre-tax profit −₹6.6 Cr: core business −₹1.2 Cr, other income −₹5.4 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY26 cash from operations −₹71.0 Cr:
-182% of FY26 net profit of ₹39.1 Cr.
Borrowings ₹63.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹14.9 ₹2.2
-84.9% below
Profit +22% above its own trend
₹ Cr YoY vs prev. half
Mar 2026 Sep 2025 Mar 2025
Total income
+27.0% +10.2%
9.1 8.2 7.2 Net interest income
+20.6% +3.0%
5.6 5.4 4.6 Other income
+25.0% +11.1%
0.1 0.1 0.1 Net profit
+20.0% -3.2%
1.2 1.2 1.0 EPS (₹)
+22.5% -2.0%
0.49 0.50 0.40
Against its own trend ?
Trend Actual Gap
NII ₹3.9 ₹5.6
+43.6% above Net profit ₹1.0 ₹1.2
+21.8% above
M Cap ₹154 Cr
P/E 15.4
PEG 1.18
₹ Cr YoY vs prev. half
Mar 2026 Sep 2025 Mar 2025
Sales
+27.8% +86.3%
101 54.2 79.0 Operating profit
+22.2% +44.8%
11.0 7.6 9.0 OPM %
-50 bps -312 bps
10.9% 14.0% 11.4% Other income
+0.0% +91.9%
1.0 0.5 1.0 Net profit?
+33.3% +55.0%
8.0 5.2 6.0 PAT margin %
+33 bps -160 bps
7.9% 9.5% 7.6% EPS (₹)
+10.9% +28.0%
2.74 2.14 2.47
Quality of profit
Pre-tax profit ₹10.0 Cr: core business ₹9.0 Cr, other income ₹1.0 Cr.
Core profit YoY: +12.5%
· reported profit +33.3%
Cash & debt
FY26 cash from operations ₹0.0 Cr.
Borrowings ₹38.0 Cr at Mar 2026.
M Cap ₹154 Cr
P/E 22.3
PEG 1.01
Operating margin expanded 1717 bps YoY Core business grew faster than reported profit (core profit +183%)
₹ Cr YoY vs prev. half
Mar 2026 Sep 2025 Mar 2025
Sales
+18.5% -22.5%
14.9 19.2 12.6 Operating profit
+163.3% -31.8%
4.7 6.8 1.8 OPM %
+1717 bps -427 bps
31.2% 35.5% 14.1% Other income
-19.0% +0.0%
0.5 0.5 0.6 Net profit?
+105.1% -45.7%
2.4 4.5 1.2 PAT margin %
+685 bps -696 bps
16.2% 23.2% 9.4% EPS (₹)
+113.8% -43.7%
1.39 2.47 0.65
Quality of profit
Pre-tax profit ₹3.7 Cr: core business ₹3.2 Cr, other income ₹0.5 Cr.
Core profit YoY: +183.0%
· reported profit +105.1%
Cash & debt
FY26 cash from operations ₹7.2 Cr.
Borrowings nil at Mar 2026.
M Cap ₹153 Cr
P/E 8.0
PEG 0.29
Profit +110% above its own trend Operating margin expanded 1312 bps YoY Core business grew faster than reported profit (core profit +149%)
₹ Cr YoY vs prev. half
Mar 2026 Sep 2025 Mar 2025
Sales
+10.0% +27.1%
47.0 37.0 42.7 Operating profit
+72.6% +157.3%
17.0 6.6 9.9 OPM %
+1312 bps +1831 bps
36.2% 17.9% 23.1% Other income
-31.0% -39.7%
2.0 3.3 2.9 Net profit
+85.0% +115.2%
13.0 6.0 7.0 PAT margin %
+1122 bps +1133 bps
27.7% 16.3% 16.4% EPS (₹)
+88.3% +119.4%
5.31 2.42 2.82
Quality of profit
Pre-tax profit ₹18.0 Cr: core business ₹16.0 Cr, other income ₹2.0 Cr.
Core profit YoY: +149.1%
· reported profit +85.0%
Cash & debt
FY26 cash from operations −₹3.0 Cr.
Borrowings ₹3.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹45.9 ₹47.0
+2.5% in line Net profit ₹6.2 ₹13.0
+110.4% above
M Cap ₹151 Cr
P/E 21.6
PEG 0.35
Profit +33% above its own trend
₹ Cr YoY vs prev. half
Mar 2026 Sep 2025 Mar 2025
Sales
+74.7% +38.8%
311 224 178 Operating profit
+40.0% +75.0%
7.0 4.0 5.0 OPM %
-56 bps +47 bps
2.3% 1.8% 2.8% Other income
— —
0.0 0.0 0.0 Net profit
+66.7% +150.0%
5.0 2.0 3.0 PAT margin %
-8 bps +71 bps
1.6% 0.9% 1.7% EPS (₹)
+60.1% +99.1%
4.42 2.22 2.76
Quality of profit
Pre-tax profit ₹6.0 Cr: core business ₹7.0 Cr, other income ₹0.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +40.0%
· reported profit +66.7%
Cash & debt
FY26 cash from operations ₹11.0 Cr.
Borrowings nil at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹222 ₹311
+40.3% above Net profit ₹3.8 ₹5.0
+33.3% above
Into loss: a profit a year ago Operating margin contracted 152 bps YoY
₹ Cr YoY vs prev. half
Mar 2026 Sep 2025 Mar 2025
Sales
+2.5% +15.0%
207 180 202 Operating profit
-50.0% from loss 3.0 -2.0 6.0 OPM %
-152 bps +256 bps
1.4% -1.1% 3.0% Other income
— —
0.0 0.0 0.0 Net profit
to loss loss narrowed -4.0 -5.0 1.0 PAT margin %
-243 bps +85 bps
-1.9% -2.8% 0.5% EPS (₹)
to loss loss narrowed -1.82 -1.94 0.49
Quality of profit
Pre-tax profit −₹5.0 Cr: core business −₹5.0 Cr, other income ₹0.0 Cr.
Core profit YoY: to loss
Cash & debt
FY26 cash from operations ₹17.0 Cr.
Borrowings ₹101 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹241 ₹207
-14.3% below
M Cap ₹151 Cr
P/E 25.1
PEG 0.23
Turnaround: profit against a loss a year ago Operating margin contracted 1048 bps YoY
₹ Cr YoY vs prev. half
Mar 2026 Sep 2025 Mar 2025
Sales
+6.2% -22.3%
23.9 30.8 22.5 Operating profit
to loss to loss -0.7 8.2 1.7 OPM %
-1048 bps -2965 bps
-3.0% 26.7% 7.5% Other income
+114.4% +64.8%
3.3 2.0 1.5 Net profit?
from loss -99.3%
0.0 6.0 -0.7 PAT margin %
+337 bps -1927 bps
0.2% 19.4% -3.2% EPS (₹)
loss narrowed to loss -0.03 0.84 -0.09
Quality of profit
Pre-tax profit −₹0.7 Cr: core business −₹3.9 Cr, other income ₹3.3 Cr.
Core profit YoY: loss widened
Cash & debt
Borrowings ₹9.3 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹27.1 ₹23.9
-11.9% below
M Cap ₹150 Cr
P/E 33.2
PEG —
Profit -97% below its own trend Operating margin contracted 758 bps YoY All of pre-tax profit came from other income or one-off items FY26 operating cash flow was only 0% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-87.6% +2.7%
23.0 22.4 186 Operating profit
to loss to loss -0.5 1.5 9.9 OPM %
-758 bps -893 bps
-2.3% 6.7% 5.3% Other income
-92.3% +221.4%
0.5 0.1 5.8 Net profit?
-96.7% -78.3%
0.3 1.4 9.4 PAT margin %
-372 bps -505 bps
1.4% 6.4% 5.1% EPS (₹)
-100.0% —
0.00 0.00 0.01
Quality of profit
Pre-tax profit ₹0.4 Cr: core business −₹0.0 Cr, other income ₹0.5 Cr.
Core profit YoY: to loss
· reported profit -96.7%
Cash & debt
FY26 cash from operations ₹0.0 Cr:
0% of FY26 net profit of ₹5.6 Cr.
Borrowings ₹53.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹337 ₹23.0
-93.2% below Net profit ₹9.1 ₹0.3
-96.6% below
M Cap ₹149 Cr
P/E 332.2
PEG —
Operating margin expanded 636 bps YoY 34% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+19.0% +5.1%
107 101 89.5 Operating profit
+219.5% -9.8%
10.8 12.0 3.4 OPM %
+636 bps -167 bps
10.1% 11.8% 3.8% Other income
-0.8% +56.4%
1.2 0.8 1.2 Net profit
loss narrowed to loss -0.9 2.6 -2.2 PAT margin %
+158 bps -337 bps
-0.8% 2.5% -2.4% EPS (₹)
loss narrowed to loss -0.18 0.51 -0.48
Quality of profit
Pre-tax profit ₹3.5 Cr: core business ₹2.3 Cr, other income ₹1.2 Cr.
Core profit YoY: from loss
Cash & debt
FY26 cash from operations ₹19.0 Cr.
Borrowings ₹102 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹91.9 ₹107
+15.9% above
M Cap ₹148 Cr
P/E 9.8
PEG 0.32
Profit -71% below its own trend Operating margin expanded 108 bps YoY 31% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +56%) FY26 operating cash flow was only 7% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-1.2% -11.4%
97.4 110 98.6 Operating profit
+14.8% -25.1%
7.6 10.2 6.6 OPM %
+108 bps -143 bps
7.8% 9.2% 6.7% Other income
+45.0% +457.7%
1.4 0.3 1.0 Net profit?
-68.9% -61.9%
1.8 4.8 5.8 PAT margin %
-407 bps -248 bps
1.9% 4.3% 5.9% EPS (₹)
-73.9% -69.4%
0.53 1.73 2.03
Quality of profit
Pre-tax profit ₹4.7 Cr: core business ₹3.2 Cr, other income ₹1.4 Cr.
Core profit YoY: +56.0%
· reported profit -68.9%
Cash & debt
FY26 cash from operations ₹1.0 Cr:
7% of FY26 net profit of ₹13.9 Cr.
Borrowings ₹55.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹97.9 ₹97.4
-0.5% in line Net profit ₹6.2 ₹1.8
-70.8% below
M Cap ₹148 Cr
P/E 31.5
PEG —
Profit -46% below its own trend Operating margin contracted 168 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+6.4% +63.0%
146 89.6 137 Operating profit
-46.3% +5.7%
2.5 2.4 4.7 OPM %
-168 bps -93 bps
1.7% 2.6% 3.4% Other income
+518.6% +601.8%
0.1 0.0 0.0 Net profit
-59.2% -20.3%
1.1 1.4 2.8 PAT margin %
-126 bps -82 bps
0.8% 1.6% 2.0% EPS (₹)
-57.1% -25.0%
0.03 0.04 0.07
Quality of profit
Pre-tax profit ₹1.7 Cr: core business ₹1.6 Cr, other income ₹0.1 Cr.
Core profit YoY: -58.9%
· reported profit -59.2%
Cash & debt
FY26 cash from operations ₹5.0 Cr:
73% of FY26 net profit of ₹6.8 Cr.
Borrowings ₹37.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹246 ₹146
-40.6% below Net profit ₹2.1 ₹1.1
-46.4% below
M Cap ₹148 Cr
P/E 32.8
PEG 0.73
Profit +103% above its own trend Operating margin expanded 231 bps YoY 25% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+102.4% +59.2%
84.1 52.8 41.5 Operating profit
+268.9% +86.6%
4.3 2.3 1.2 OPM %
+231 bps +75 bps
5.1% 4.4% 2.8% Other income
+135.5% —
0.9 0.1 0.4 Net profit
+69.4% +284.1%
2.9 0.8 1.7 PAT margin %
-68 bps +203 bps
3.5% 1.4% 4.1% EPS (₹)
+69.8% +282.1%
1.07 0.28 0.63
Quality of profit
Pre-tax profit ₹3.7 Cr: core business ₹2.8 Cr, other income ₹0.9 Cr.
Core profit YoY: —
· reported profit +69.4%
Cash & debt
FY26 cash from operations ₹6.0 Cr:
133% of FY26 net profit of ₹4.5 Cr.
Borrowings ₹42.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹80.4 ₹84.1
+4.5% in line Net profit ₹1.4 ₹2.9
+103.5% above
M Cap ₹148 Cr
P/E 7.9
PEG 0.10
Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-12.5% -7.7%
153 166 175 Operating profit
-0.5% +15.1%
7.6 6.6 7.7 OPM %
+60 bps +98 bps
5.0% 4.0% 4.4% Other income
-16.9% +2.1%
1.4 1.4 1.7 Net profit?
+8.1% +12.6%
4.9 4.4 4.5 PAT margin %
+61 bps +58 bps
3.2% 2.6% 2.6% EPS (₹)
+5.9% -5.3%
0.18 0.19 0.17
Quality of profit
Pre-tax profit ₹6.8 Cr: core business ₹5.4 Cr, other income ₹1.4 Cr.
Core profit YoY: +0.9%
· reported profit +8.1%
Cash & debt
FY26 cash from operations −₹4.0 Cr:
-22% of FY26 net profit of ₹18.5 Cr.
Borrowings ₹71.0 Cr at Mar 2026.
M Cap ₹148 Cr
P/E 9.8
PEG 0.28
Profit -54% below its own trend Operating margin contracted 1633 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-39.7% +30.0%
15.4 11.8 25.5 Operating profit
-55.9% —
6.9 0.6 15.5 OPM %
-1633 bps +3983 bps
44.6% 4.8% 60.9% Other income
-9.6% -9.9%
1.6 1.8 1.8 Net profit?
-50.6% +298.5%
5.4 1.4 11.0 PAT margin %
-778 bps +2378 bps
35.3% 11.5% 43.1% EPS (₹)
-50.4% +293.7%
1.26 0.32 2.54
Quality of profit
Pre-tax profit ₹8.1 Cr: core business ₹6.4 Cr, other income ₹1.6 Cr.
Core profit YoY: -57.6%
· reported profit -50.6%
Cash & debt
FY26 cash from operations ₹8.0 Cr:
52% of FY26 net profit of ₹15.3 Cr.
Borrowings nil at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹22.5 ₹15.4
-31.8% below Net profit ₹11.7 ₹5.4
-53.5% 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, 13:59 IST
