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.
Updated 13 Oct 2026, 14:24 IST
5115 declared
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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
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M Cap ₹66,417 Cr
P/E 34.1
PEG 8.53
Profit +11% above its own trend 37% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+7.3% -14.6%
3,038 3,559 2,830
Operating profit
+8.0% -37.2%
461 734 427
OPM %
+9 bps -545 bps
15.2% 20.6% 15.1%
Other income
+24.1% +24.4%
175 141 141
Net profit?
+15.7% -34.6%
362 554 313
PAT margin %
+86 bps -364 bps
11.9% 15.6% 11.1%
EPS (₹)
+14.9% -34.2%
2.08 3.16 1.81
Quality of profit
Core 63% Other income & one-offs 37%
Pre-tax profit ₹474 Cr: core business ₹299 Cr, other income ₹175 Cr.
Core profit YoY: +10.3%
· reported profit +15.7%
Cash & debt
FY26 cash from operations ₹2,579 Cr:
138% of FY26 net profit of ₹1,869 Cr.
Borrowings ₹1,287 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹2,929 ₹3,038
+3.7% in line
Net profit ₹328 ₹362
+10.5% above
M Cap ₹66,019 Cr
P/E 40.4
PEG 2.53
Profit +25% above its own trend 34% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -4%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+2.5% +20.3%
6,705 5,573 6,544
Operating profit
-3.7% +39.1%
729 524 757
OPM %
-70 bps +147 bps
10.9% 9.4% 11.6%
Other income
+351.1% +625.5%
310 42.7 68.7
Net profit?
+39.8% +139.9%
723 301 517
PAT margin %
+288 bps +538 bps
10.8% 5.4% 7.9%
EPS (₹)
+39.6% +140.2%
11.53 4.80 8.26
Quality of profit
Core 66% Other income & one-offs 34%
Pre-tax profit ₹918 Cr: core business ₹607 Cr, other income ₹310 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: -4.0%
· reported profit +39.8%
Cash & debt
FY26 cash from operations ₹1,572 Cr:
93% of FY26 net profit of ₹1,690 Cr.
Borrowings ₹265 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹7,175 ₹6,705
-6.5% below
Net profit ₹579 ₹723
+24.8% above
M Cap ₹65,834 Cr
P/E 14.2
PEG 0.06
Profit +15% above its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Total income
+18.5% +4.8%
4,771 4,553 4,027
Net interest income
— +5.2%
3,024 2,875 —
Other income
— loss narrowed
0.0 -25.0 —
Net profit?
+27.2% -62.8%
809 2,174 636
EPS (₹)
+26.3% -63.0%
3.22 8.70 2.55
Against its own trend ?
Trend Actual Gap
Net profit ₹701 ₹809
+15.4% above
M Cap ₹65,813 Cr
P/E 42.8
PEG 3.06
Profit +46% above its own trend Operating margin expanded 576 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+21.3% +10.0%
1,233 1,121 1,016
Operating profit
+34.0% +14.3%
750 656 560
OPM %
+576 bps +229 bps
60.8% 58.5% 55.1%
Other income
+26.3% +20.6%
57.0 47.3 45.1
Net profit?
+40.0% +75.9%
485 276 347
PAT margin %
+524 bps +1474 bps
39.3% 24.6% 34.1%
EPS (₹)
+50.0% +46.3%
11.28 7.71 7.52
Quality of profit
Core 91% Other income & one-offs 9%
Pre-tax profit ₹620 Cr: core business ₹564 Cr, other income ₹57.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +50.3%
· reported profit +40.0%
Cash & debt
FY26 cash from operations ₹2,426 Cr:
166% of FY26 net profit of ₹1,464 Cr.
Borrowings ₹5,323 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,120 ₹1,233
+10.1% above
Net profit ₹332 ₹485
+46.2% above
M Cap ₹64,748 Cr
P/E 53.8
PEG —
Profit +289% above its own trend Gross NPA down 115 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Total income
+7.0% +1.5%
4,791 4,718 4,478
Net interest income
+6.9% +0.9%
1,672 1,658 1,564
Other income
+6.9% +1.7%
1,070 1,052 1,001
Net profit?
+180.5% +7.0%
244 228 87.0
EPS (₹)
+176.2% +6.5%
3.95 3.71 1.43
Gross NPA %
-115 bps -43 bps
1.4% 1.9% 2.6%
Net NPA %
+10 bps -16 bps
0.4% 0.6% 0.3%
Against its own trend ?
Trend Actual Gap
NII ₹1,516 ₹1,672
+10.3% above
Net profit ₹62.7 ₹244
+289.3% above
M Cap ₹64,432 Cr
P/E 35.8
PEG 0.47
Profit +999% above its own trend Operating margin expanded 300 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+15.8% -3.3%
3,771 3,901 3,256
Operating profit
+36.0% -12.3%
763 870 561
OPM %
+300 bps -206 bps
20.2% 22.3% 17.2%
Other income
loss narrowed to loss
-184 44.5 -361
Net profit?
— -25.4%
301 403 4.0
PAT margin %
+786 bps -236 bps
8.0% 10.3% 0.1%
EPS (₹)
— -25.3%
10.68 14.29 0.16
Quality of profit
Pre-tax profit ₹388 Cr: core business ₹572 Cr, other income −₹184 Cr.
Core profit YoY: +55.0%
Cash & debt
FY26 cash from operations ₹3,445 Cr:
253% of FY26 net profit of ₹1,362 Cr.
Borrowings ₹594 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹3,369 ₹3,771
+11.9% above
Net profit ₹2.0 ₹301
+999.0% above
M Cap ₹64,158 Cr
P/E 17.0
PEG 0.25
Gross NPA down 30 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Total income
+0.4% +2.2%
9,478 9,272 9,438
Net interest income
+15.9% +7.0%
2,632 2,460 2,271
Other income
+0.1% +5.6%
1,816 1,720 1,815
Net profit?
+45.3% +13.1%
1,082 957 745
EPS (₹)
+41.7% +13.3%
0.34 0.30 0.24
Gross NPA %
-30 bps -20 bps
1.3% 1.5% 1.6%
Net NPA %
-10 bps -10 bps
0.2% 0.3% 0.3%
Against its own trend ?
Trend Actual Gap
NII ₹2,402 ₹2,632
+9.6% above
Net profit ₹1,158 ₹1,082
-6.6% in line
M Cap ₹63,840 Cr
P/E 8.5
PEG 0.22
Profit +10% above its own trend Gross NPA down 29 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Total income
+12.7% +5.0%
8,693 8,277 7,712
Net interest income
+18.8% +8.2%
3,703 3,423 3,117
Other income
-4.4% +0.5%
938 933 981
Net profit?
+36.1% +13.7%
2,045 1,799 1,502
EPS (₹)
+36.4% +13.7%
2.66 2.34 1.95
Gross NPA %
-29 bps -15 bps
1.4% 1.6% 1.7%
Net NPA %
-5 bps -2 bps
0.1% 0.1% 0.2%
Against its own trend ?
Trend Actual Gap
NII ₹3,644 ₹3,703
+1.6% in line
Net profit ₹1,858 ₹2,045
+10.1% above
M Cap ₹63,775 Cr
P/E 49.7
PEG 2.16
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+17.8% +6.3%
5,336 5,018 4,528
Operating profit
+14.4% +8.9%
603 554 527
OPM %
-34 bps +27 bps
11.3% 11.0% 11.6%
Other income
+12.9% —
70.0 3.7 62.0
Net profit?
+21.8% +17.1%
352 300 289
PAT margin %
+21 bps +61 bps
6.6% 6.0% 6.4%
EPS (₹)
+21.6% +17.5%
5.64 4.80 4.64
Quality of profit
Core 84% Other income & one-offs 16%
Pre-tax profit ₹436 Cr: core business ₹366 Cr, other income ₹70.0 Cr.
Core profit YoY: +14.0%
· reported profit +21.8%
Cash & debt
FY26 cash from operations ₹1,720 Cr:
134% of FY26 net profit of ₹1,284 Cr.
Borrowings ₹2,740 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹5,364 ₹5,336
-0.5% in line
Net profit ₹346 ₹352
+1.8% in line
M Cap ₹62,234 Cr
P/E 28.5
PEG 0.89
Profit -24% below its own trend Operating margin expanded 190 bps YoY Core business grew faster than reported profit (core profit +42%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+14.6% -3.6%
3,603 3,737 3,144
Operating profit
+32.1% -37.6%
517 828 391
OPM %
+190 bps -781 bps
14.3% 22.2% 12.4%
Other income
-55.5% -27.8%
65.0 90.0 146
Net profit?
-17.9% -60.5%
251 636 306
PAT margin %
-276 bps -1005 bps
7.0% 17.0% 9.7%
EPS (₹)
-22.7% -62.8%
19.78 53.19 25.58
Quality of profit
Core 84% Other income & one-offs 16%
Pre-tax profit ₹423 Cr: core business ₹357 Cr, other income ₹65.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +42.1%
· reported profit -17.9%
Cash & debt
FY26 cash from operations ₹1,963 Cr:
84% of FY26 net profit of ₹2,330 Cr.
Borrowings ₹2,047 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹3,489 ₹3,603
+3.3% in line
Net profit ₹332 ₹251
-24.5% below
M Cap ₹61,941 Cr
P/E 98.0
PEG 16.34
Profit +15% above its own trend Operating margin expanded 101 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+7.1% -5.0%
1,557 1,639 1,453
Operating profit
+13.0% -1.3%
301 305 266
OPM %
+101 bps +72 bps
19.3% 18.6% 18.3%
Other income
+66.6% +105.0%
24.0 11.7 14.4
Net profit?
+8.7% +5.9%
168 159 155
PAT margin %
+15 bps +111 bps
10.8% 9.7% 10.6%
EPS (₹)
+8.5% +6.3%
1.53 1.44 1.41
Quality of profit
Core 89% Other income & one-offs 11%
Pre-tax profit ₹227 Cr: core business ₹203 Cr, other income ₹24.0 Cr.
Core profit YoY: +7.3%
· reported profit +8.7%
Cash & debt
FY26 cash from operations ₹1,149 Cr:
175% of FY26 net profit of ₹655 Cr.
Borrowings ₹2,255 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,719 ₹1,557
-9.4% below
Net profit ₹145 ₹168
+15.5% above
M Cap ₹61,842 Cr
P/E 8.3
PEG 0.49
Profit +37% above its own trend Operating margin contracted 597 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+61.9% +49.0%
11,343 7,611 7,005
Operating profit
+28.9% +23.3%
2,644 2,144 2,051
OPM %
-597 bps -486 bps
23.3% 28.2% 29.3%
Other income
-12.2% +16.1%
432 372 492
Net profit?
+37.2% +15.4%
2,027 1,757 1,477
PAT margin %
-321 bps -521 bps
17.9% 23.1% 21.1%
EPS (₹)
+37.5% +15.5%
2.31 2.00 1.68
Quality of profit
Core 85% Other income & one-offs 15%
Pre-tax profit ₹2,873 Cr: core business ₹2,441 Cr, other income ₹432 Cr.
Core profit YoY: +32.3%
· reported profit +37.2%
Cash & debt
FY26 cash from operations ₹4,996 Cr:
67% of FY26 net profit of ₹7,450 Cr.
Borrowings ₹6,407 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹8,418 ₹11,343
+34.7% above
Net profit ₹1,484 ₹2,027
+36.6% above
M Cap ₹61,812 Cr
P/E —
PEG —
Profit +88% above its own trend Operating margin contracted 472 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+52.2% +17.2%
1,750 1,493 1,150
Operating profit
+40.0% +9.4%
949 868 678
OPM %
-472 bps -390 bps
54.2% 58.1% 58.9%
Other income
+17.5% +108.9%
74.0 35.4 63.0
Net profit?
+62.4% +12.8%
703 623 433
PAT margin %
+252 bps -157 bps
40.2% 41.7% 37.6%
EPS (₹)
+62.4% +13.0%
19.34 17.12 11.91
Quality of profit
Core 92% Other income & one-offs 8%
Pre-tax profit ₹963 Cr: core business ₹889 Cr, other income ₹74.0 Cr.
Core profit YoY: +54.9%
· reported profit +62.4%
Cash & debt
FY26 cash from operations ₹1,380 Cr:
55% of FY26 net profit of ₹2,507 Cr.
Borrowings ₹2,825 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,111 ₹1,750
+57.5% above
Net profit ₹374 ₹703
+87.9% above
M Cap ₹61,573 Cr
P/E 48.7
PEG 2.70
Profit +359% above its own trend Operating margin contracted 983 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+166.6% +5.2%
4,074 3,873 1,528
Operating profit
+90.9% +17.4%
1,010 860 529
OPM %
-983 bps +259 bps
24.8% 22.2% 34.6%
Other income
+14.8% +94.4%
70.0 36.0 61.0
Net profit?
+579.1% +19.2%
292 245 43.0
PAT margin %
+435 bps +84 bps
7.2% 6.3% 2.8%
EPS (₹)
+901.7% +12.4%
5.81 5.17 0.58
Quality of profit
Core 83% Other income & one-offs 17%
Pre-tax profit ₹413 Cr: core business ₹342 Cr, other income ₹70.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: —
· reported profit +579.1%
Cash & debt
FY26 cash from operations ₹3,223 Cr:
247% of FY26 net profit of ₹1,306 Cr.
Borrowings ₹17,659 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,753 ₹4,074
+132.4% above
Net profit ₹63.7 ₹292
+358.7% above
M Cap ₹61,365 Cr
P/E —
PEG —
45% of pre-tax profit came from other income and one-off items
₹ Cr
Mar 2026
Sales
1,048
Operating profit
201
OPM %
19.2%
Other income
85.0
Net profit?
139
PAT margin %
13.3%
EPS (₹)
2.87
Dec 2025 and Mar 2025 are not on record for this company, so there is nothing to compare with yet.
Quality of profit
Core 55% Other income & one-offs 45%
Pre-tax profit ₹185 Cr: core business ₹101 Cr, other income ₹85.0 Cr, exceptional & other items −₹1.0 Cr.
M Cap ₹61,029 Cr
P/E 86.8
PEG 2.12
Profit +15% above its own trend Operating margin expanded 523 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+15.3% -2.8%
1,504 1,547 1,304
Operating profit
+59.6% +6.3%
284 267 178
OPM %
+523 bps +161 bps
18.9% 17.3% 13.7%
Other income
+233.3% +283.2%
10.0 2.6 3.0
Net profit?
+94.6% +15.5%
179 155 92.0
PAT margin %
+485 bps +189 bps
11.9% 10.0% 7.1%
EPS (₹)
+94.8% +15.8%
13.40 11.57 6.88
Quality of profit
Core 96% Other income & one-offs 4%
Pre-tax profit ₹237 Cr: core business ₹227 Cr, other income ₹10.0 Cr.
Core profit YoY: +89.2%
· reported profit +94.6%
Cash & debt
FY26 cash from operations ₹743 Cr:
123% of FY26 net profit of ₹604 Cr.
Borrowings ₹498 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,643 ₹1,504
-8.5% below
Net profit ₹156 ₹179
+14.7% above
M Cap ₹60,733 Cr
P/E 5.2
PEG 0.12
Profit +11% above its own trend Gross NPA down 129 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Total income
+4.2% +6.9%
22,853 21,379 21,934
Net interest income
+10.4% +3.7%
6,788 6,548 6,146
Other income
-5.1% +41.0%
3,280 2,327 3,455
Net profit?
+18.7% +9.8%
3,089 2,814 2,602
EPS (₹)
+18.5% +9.7%
6.78 6.18 5.72
Gross NPA %
-129 bps -28 bps
2.0% 2.3% 3.3%
Net NPA %
-26 bps -4 bps
0.6% 0.6% 0.8%
Against its own trend ?
Trend Actual Gap
NII ₹6,180 ₹6,788
+9.8% above
Net profit ₹2,772 ₹3,089
+11.5% above
M Cap ₹60,260 Cr
P/E —
PEG —
Operating margin expanded 1092 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+44.7% +3.8%
6,383 6,148 4,410
Operating profit
loss narrowed loss narrowed
-698 -783 -964
OPM %
+1092 bps +180 bps
-10.9% -12.7% -21.9%
Other income
+119.8% +209.3%
266 86.0 121
Net profit?
loss narrowed loss narrowed
-800 -1,065 -1,081
PAT margin %
+1198 bps +479 bps
-12.5% -17.3% -24.5%
EPS (₹)
loss narrowed loss narrowed
-2.90 -3.86 -4.73
Quality of profit
Pre-tax profit −₹800 Cr: core business −₹1,066 Cr, other income ₹266 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY26 cash from operations −₹2,898 Cr.
Borrowings ₹2,551 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹6,790 ₹6,383
-6.0% below
M Cap ₹59,927 Cr
P/E —
PEG —
Operating margin expanded 1949 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+73.8% +23.2%
1,175 954 676
Operating profit
loss narrowed loss narrowed
-70.0 -72.0 -172
OPM %
+1949 bps +159 bps
-6.0% -7.5% -25.4%
Other income
+225.0% +5.4%
39.0 37.0 12.0
Net profit
loss narrowed loss widened
-100 -85.0 -234
PAT margin %
+2610 bps +40 bps
-8.5% -8.9% -34.6%
EPS (₹)
loss narrowed loss widened
-2.62 -2.22 -8.06
Quality of profit
Pre-tax profit −₹100 Cr: core business −₹140 Cr, other income ₹39.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY26 cash from operations ₹32.0 Cr.
Borrowings ₹664 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,028 ₹1,175
+14.3% above
M Cap ₹59,902 Cr
P/E 48.8
PEG 2.12
Profit -23% below its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+13.8% +4.8%
6,269 5,982 5,509
Operating profit
+23.4% +8.3%
511 472 414
OPM %
+64 bps +26 bps
8.2% 7.9% 7.5%
Other income
+2.9% +44.0%
36.0 25.0 35.0
Net profit?
+20.8% +14.2%
354 310 293
PAT margin %
+33 bps +46 bps
5.6% 5.2% 5.3%
EPS (₹)
+20.8% +14.2%
12.76 11.17 10.56
Quality of profit
Core 92% Other income & one-offs 8%
Pre-tax profit ₹457 Cr: core business ₹420 Cr, other income ₹36.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +29.6%
· reported profit +20.8%
Cash & debt
FY26 cash from operations ₹2,103 Cr:
194% of FY26 net profit of ₹1,082 Cr.
Borrowings ₹498 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹6,037 ₹6,269
+3.8% in line
Net profit ₹462 ₹354
-23.3% below
M Cap ₹59,221 Cr
P/E 163.0
PEG —
Profit +74% above its own trend Profit grew faster than the core business (core profit +48%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+18.2% -0.3%
1,182 1,186 1,000
Operating profit
+23.1% +10.9%
224 202 182
OPM %
+75 bps +192 bps
19.0% 17.0% 18.2%
Other income
+640.0% —
37.0 0.0 5.0
Net profit?
+79.1% +161.0%
154 59.0 86.0
PAT margin %
+443 bps +805 bps
13.0% 5.0% 8.6%
EPS (₹)
+71.5% +168.3%
2.71 1.01 1.58
Quality of profit
Core 78% Other income & one-offs 22%
Pre-tax profit ₹163 Cr: core business ₹127 Cr, other income ₹37.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +47.7%
· reported profit +79.1%
Cash & debt
FY26 cash from operations ₹656 Cr:
153% of FY26 net profit of ₹428 Cr.
Borrowings ₹2,220 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹1,116 ₹1,182
+5.9% above
Net profit ₹88.6 ₹154
+73.8% above
M Cap ₹59,178 Cr
P/E 24.5
PEG 4.09
Profit -78% below its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-0.8% -5.5%
6,406 6,778 6,456
Operating profit
+1.7% -18.1%
1,149 1,403 1,130
OPM %
+43 bps -276 bps
17.9% 20.7% 17.5%
Other income
-37.7% +2.9%
71.0 69.0 114
Net profit?
-69.3% -49.5%
331 655 1,077
PAT margin %
-1152 bps -450 bps
5.2% 9.7% 16.7%
EPS (₹)
-70.0% -50.5%
6.31 12.76 21.03
Quality of profit
Core 87% Other income & one-offs 13%
Pre-tax profit ₹547 Cr: core business ₹476 Cr, other income ₹71.0 Cr.
Core profit YoY: -5.7%
· reported profit -69.3%
Cash & debt
FY26 cash from operations ₹5,464 Cr:
226% of FY26 net profit of ₹2,412 Cr.
Borrowings ₹13,971 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹6,558 ₹6,406
-2.3% in line
Net profit ₹1,533 ₹331
-78.4% below
M Cap ₹58,572 Cr
P/E 40.8
PEG 0.93
Profit +29% above its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+66.2% -0.7%
10,275 10,343 6,182
Operating profit
+84.3% -1.9%
736 750 399
OPM %
+70 bps -9 bps
7.2% 7.3% 6.5%
Other income
+12.7% +100.0%
46.0 23.0 40.8
Net profit?
+118.5% -1.4%
410 416 188
PAT margin %
+96 bps -3 bps
4.0% 4.0% 3.0%
EPS (₹)
+118.1% -1.5%
3.97 4.03 1.82
Quality of profit
Core 92% Other income & one-offs 8%
Pre-tax profit ₹539 Cr: core business ₹493 Cr, other income ₹46.0 Cr.
Core profit YoY: +135.0%
· reported profit +118.5%
Cash & debt
FY26 cash from operations ₹1,318 Cr:
98% of FY26 net profit of ₹1,351 Cr.
Borrowings ₹6,117 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹8,271 ₹10,275
+24.2% above
Net profit ₹318 ₹410
+28.9% above
M Cap ₹58,251 Cr
P/E 9.8
PEG 0.26
Profit -12% below its own trend Gross NPA down 72 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Total income
+6.1% +1.1%
9,780 9,672 9,216
Net interest income
+11.0% +5.2%
3,470 3,299 3,125
Other income
-18.3% -13.9%
1,291 1,499 1,581
Net profit?
+42.5% +9.0%
1,556 1,427 1,092
EPS (₹)
+42.1% +14.1%
0.81 0.71 0.57
Gross NPA %
-72 bps -12 bps
1.4% 1.5% 2.1%
Net NPA %
-16 bps -3 bps
0.2% 0.2% 0.4%
Against its own trend ?
Trend Actual Gap
NII ₹3,692 ₹3,470
-6.0% below
Net profit ₹1,772 ₹1,556
-12.2% below
M Cap ₹58,245 Cr
P/E 18.0
PEG 1.20
Profit +16% above its own trend Operating margin expanded 243 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+11.2% +7.8%
11,337 10,518 10,198
Operating profit
+37.2% +3.3%
1,455 1,408 1,061
OPM %
+243 bps -55 bps
12.8% 13.4% 10.4%
Other income
-10.6% -17.8%
84.0 102 94.0
Net profit?
+41.4% +0.8%
834 828 590
PAT margin %
+157 bps -51 bps
7.4% 7.9% 5.8%
EPS (₹)
+42.5% +1.7%
10.23 10.06 7.18
Quality of profit
Core 92% Other income & one-offs 8%
Pre-tax profit ₹1,112 Cr: core business ₹1,028 Cr, other income ₹84.0 Cr.
Core profit YoY: +53.5%
· reported profit +41.4%
Cash & debt
FY26 cash from operations ₹3,395 Cr:
107% of FY26 net profit of ₹3,184 Cr.
Borrowings ₹7,460 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹11,020 ₹11,337
+2.9% in line
Net profit ₹721 ₹834
+15.7% above
M Cap ₹57,704 Cr
P/E 46.0
PEG 4.60
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+18.9% -5.1%
2,586 2,724 2,174
Operating profit
+21.7% -1.3%
478 484 393
OPM %
+42 bps +71 bps
18.5% 17.8% 18.1%
Other income
+25.2% -3.0%
42.0 43.3 33.5
Net profit?
+25.6% -2.0%
316 322 252
PAT margin %
+65 bps +39 bps
12.2% 11.8% 11.6%
EPS (₹)
+25.6% -1.8%
20.22 20.60 16.10
Quality of profit
Core 90% Other income & one-offs 10%
Pre-tax profit ₹429 Cr: core business ₹387 Cr, other income ₹42.0 Cr.
Core profit YoY: +25.6%
· reported profit +25.6%
Cash & debt
Borrowings ₹55.0 Cr at Dec 2025.
Against its own trend ?
Trend Actual Gap
Sales ₹2,513 ₹2,586
+2.9% in line
Net profit ₹301 ₹316
+4.9% in line
M Cap ₹57,169 Cr
P/E 53.7
PEG 1.99
Profit +17% above its own trend
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+17.8% +4.4%
2,365 2,265 2,007
Operating profit
+22.2% +5.1%
532 506 435
OPM %
+80 bps +15 bps
22.5% 22.3% 21.7%
Other income
to loss loss narrowed
-2.0 -34.0 24.4
Net profit?
+44.1% +37.6%
271 197 188
PAT margin %
+209 bps +276 bps
11.5% 8.7% 9.4%
EPS (₹)
+44.3% +37.0%
3.52 2.57 2.44
Quality of profit
Pre-tax profit ₹324 Cr: core business ₹326 Cr, other income −₹2.0 Cr.
Core profit YoY: +22.7%
· reported profit +44.1%
Cash & debt
FY26 cash from operations ₹1,601 Cr:
150% of FY26 net profit of ₹1,064 Cr.
Borrowings ₹3,473 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹2,347 ₹2,365
+0.8% in line
Net profit ₹231 ₹271
+17.2% above
M Cap ₹57,083 Cr
P/E 8.5
PEG 0.14
Profit -47% below its own trend Operating margin contracted 542 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-4.8% +6.0%
5,013 4,731 5,268
Operating profit
-14.7% +7.8%
2,349 2,179 2,754
OPM %
-542 bps +79 bps
46.9% 46.1% 52.3%
Other income
+60.8% +4.1%
202 194 126
Net profit?
-16.7% +8.0%
1,722 1,595 2,067
PAT margin %
-489 bps +63 bps
34.4% 33.7% 39.2%
EPS (₹)
-16.7% +7.9%
9.38 8.69 11.26
Quality of profit
Core 91% Other income & one-offs 9%
Pre-tax profit ₹2,316 Cr: core business ₹2,114 Cr, other income ₹202 Cr.
Core profit YoY: -19.7%
· reported profit -16.7%
Cash & debt
FY26 cash from operations ₹6,438 Cr:
111% of FY26 net profit of ₹5,797 Cr.
Borrowings ₹60.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹6,336 ₹5,013
-20.9% below
Net profit ₹3,257 ₹1,722
-47.1% below
M Cap ₹56,396 Cr
P/E 135.3
PEG —
Profit -78% below its own trend Operating margin contracted 183 bps YoY
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+2.3% +8.2%
4,517 4,173 4,417
Operating profit
-5.4% +22.4%
1,020 834 1,078
OPM %
-183 bps +261 bps
22.6% 20.0% 24.4%
Other income
to loss to loss
-28.0 117 36.9
Net profit?
-56.7% from loss
199 -51.8 459
PAT margin %
-600 bps +565 bps
4.4% -1.2% 10.4%
EPS (₹)
-72.9% -27.8%
0.78 1.08 2.88
Quality of profit
Pre-tax profit ₹248 Cr: core business ₹275 Cr, other income −₹28.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: -36.0%
· reported profit -56.7%
Cash & debt
FY26 cash from operations ₹1,994 Cr:
540% of FY26 net profit of ₹369 Cr.
Borrowings ₹15,434 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹5,026 ₹4,517
-10.1% below
Net profit ₹919 ₹199
-78.3% below
M Cap ₹55,474 Cr
P/E 6.2
PEG 0.52
Profit -21% below its own trend Operating margin contracted 378 bps YoY FY26 operating cash flow was only 5% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-1.4% +3.4%
13,018 12,589 13,209
Operating profit
-17.8% +4.1%
2,463 2,366 2,998
OPM %
-378 bps +13 bps
18.9% 18.8% 22.7%
Other income
+341.8% +377.8%
645 135 146
Net profit?
+1.4% +46.8%
2,533 1,726 2,499
PAT margin %
+54 bps +575 bps
19.5% 13.7% 18.9%
EPS (₹)
+1.4% +46.7%
14.44 9.84 14.24
Quality of profit
Core 79% Other income & one-offs 21%
Pre-tax profit ₹3,108 Cr: core business ₹2,463 Cr, other income ₹645 Cr.
Core profit YoY: -17.8%
· reported profit +1.4%
Cash & debt
FY26 cash from operations ₹466 Cr:
5% of FY26 net profit of ₹9,664 Cr.
Borrowings nil at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹14,956 ₹13,018
-13.0% below
Net profit ₹3,221 ₹2,533
-21.4% 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 13 Oct 2026, 14:24 IST