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: 41 companies have filed results for the quarter ended 30 Sep 2026.
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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
-3.9%
median; 31% of 35 stocks up
Other-income heavy
1375
25%+ of pre-tax profit from other income & one-offs
Filters & sorting
Results by sector
1375 matching results 1375
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M Cap ₹2,580 Cr
P/E 36.0
PEG 0.31
Profit +40% above its own trend Operating margin contracted 2833 bps YoY 86% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -80%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+125.0% +50.0%
45.0 30.0 20.0 Operating profit
+9.1% -46.6%
12.0 22.5 11.0 OPM %
-2833 bps -4822 bps
26.7% 74.9% 55.0% Other income
— +604.6%
12.0 1.7 0.0 Net profit?
+180.0% +111.0%
28.0 13.3 10.0 PAT margin %
+1222 bps +1799 bps
62.2% 44.2% 50.0% EPS (₹)
+171.3% +113.3%
7.08 3.32 2.61
Quality of profit
Pre-tax profit ₹14.0 Cr: core business ₹2.0 Cr, other income ₹12.0 Cr.
Core profit YoY: -80.0%
· reported profit +180.0%
Cash & debt
FY26 cash from operations ₹45.0 Cr:
66% of FY26 net profit of ₹67.9 Cr.
Borrowings ₹203 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹40.0 ₹45.0
+12.5% above Net profit ₹20.0 ₹28.0
+40.0% above
M Cap ₹2,568 Cr
P/E 31.5
PEG —
Profit +50% above its own trend Operating margin expanded 423 bps YoY 39% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +144%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+38.7% +34.5%
308 229 222 Operating profit
+111.1% +18.8%
38.0 32.0 18.0 OPM %
+423 bps -164 bps
12.3% 14.0% 8.1% Other income
-11.8% +50.0%
15.0 10.0 17.0 Net profit?
+50.0% +38.5%
30.0 21.7 20.0 PAT margin %
+73 bps +28 bps
9.7% 9.5% 9.0% EPS (₹)
+48.7% +35.0%
7.48 5.54 5.03
Quality of profit
Pre-tax profit ₹36.0 Cr: core business ₹22.0 Cr, other income ₹15.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +144.4%
· reported profit +50.0%
Cash & debt
FY26 cash from operations ₹78.0 Cr:
76% of FY26 net profit of ₹102 Cr.
Borrowings ₹87.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹245 ₹308
+25.9% above Net profit ₹19.9 ₹30.0
+50.4% above
M Cap ₹2,566 Cr
P/E 4.2
PEG 0.08
Profit +999% above its own trend Operating margin contracted 722 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
+14.6% -4.5%
1,269 1,329 1,107 Operating profit
to loss to loss -17.0 72.0 65.1 OPM %
-722 bps -676 bps
-1.3% 5.4% 5.9% Other income
— —
508 4.0 5.5 Net profit?
— —
555 10.0 10.9 PAT margin %
+4275 bps +4298 bps
43.7% 0.8% 1.0% EPS (₹)
— —
38.41 0.71 0.75
Quality of profit
Pre-tax profit ₹434 Cr: core business −₹74.0 Cr, other income ₹508 Cr.
Core profit YoY: to loss
Cash & debt
FY26 cash from operations −₹441 Cr:
-75% of FY26 net profit of ₹585 Cr.
Borrowings ₹1,697 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹991 ₹1,269
+28.0% above Net profit ₹7.3 ₹555
+999.0% above
M Cap ₹2,502 Cr
P/E 217.5
PEG —
Turnaround: profit against a loss a year ago Operating margin expanded 367 bps YoY 35% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+4.9% -9.0%
420 462 401 Operating profit
+318.5% +1.4%
20.6 20.3 4.9 OPM %
+367 bps +50 bps
4.9% 4.4% 1.2% Other income
-41.5% +197.8%
1.3 0.5 2.3 Net profit
from loss -64.9%
1.1 3.2 -11.9 PAT margin %
+325 bps -43 bps
0.3% 0.7% -3.0% EPS (₹)
from loss -64.7%
0.48 1.36 -5.00
Quality of profit
Pre-tax profit ₹3.8 Cr: core business ₹2.5 Cr, other income ₹1.3 Cr.
Core profit YoY: from loss
Cash & debt
FY26 cash from operations ₹50.0 Cr:
514% of FY26 net profit of ₹9.7 Cr.
Borrowings ₹45.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹403 ₹420
+4.3% in line
M Cap ₹2,494 Cr
P/E 22.2
PEG 0.93
Profit +20% above its own trend 25% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+15.1% +10.7%
237 214 206 Operating profit
+18.1% +24.2%
41.0 33.0 34.7 OPM %
+43 bps +188 bps
17.3% 15.4% 16.9% Other income
+116.7% -15.4%
11.0 13.0 5.1 Net profit?
+20.4% +18.5%
32.0 27.0 26.6 PAT margin %
+59 bps +89 bps
13.5% 12.6% 12.9% EPS (₹)
+18.8% +16.1%
5.12 4.41 4.31
Quality of profit
Pre-tax profit ₹40.0 Cr: core business ₹30.0 Cr, other income ₹11.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +29.3%
· reported profit +20.4%
Cash & debt
FY26 cash from operations ₹85.0 Cr:
81% of FY26 net profit of ₹104 Cr.
Borrowings ₹84.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹214 ₹237
+10.8% above Net profit ₹26.7 ₹32.0
+19.9% above
M Cap ₹2,457 Cr
P/E 75.4
PEG —
Profit +274% above its own trend Operating margin expanded 510 bps YoY 39% 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
-15.3% +26.4%
134 106 158 Operating profit
+47.9% +45.5%
16.0 11.0 10.8 OPM %
+510 bps +156 bps
11.9% 10.4% 6.8% Other income
+212.2% +75.0%
7.0 4.0 2.2 Net profit?
+97.7% +85.7%
13.0 7.0 6.6 PAT margin %
+555 bps +310 bps
9.7% 6.6% 4.2% EPS (₹)
+87.5% +91.3%
5.53 2.89 2.95
Quality of profit
Pre-tax profit ₹18.0 Cr: core business ₹11.0 Cr, other income ₹7.0 Cr.
Core profit YoY: +67.7%
· reported profit +97.7%
Cash & debt
FY26 cash from operations ₹20.0 Cr:
103% of FY26 net profit of ₹19.5 Cr.
Borrowings ₹325 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹163 ₹134
-17.8% below Net profit ₹3.5 ₹13.0
+273.8% above
M Cap ₹2,398 Cr
P/E 12.9
PEG 0.71
Profit -34% below its own trend Operating margin contracted 585 bps YoY 60% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +11%) Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-23.3% +419.6%
114 21.9 149 Operating profit
-39.4% +138.8%
25.0 10.5 41.3 OPM %
-585 bps -2579 bps
21.9% 47.7% 27.8% Other income
-3.7% +67.9%
38.0 22.6 39.4 Net profit?
-15.2% +65.0%
46.0 27.9 54.2 PAT margin %
+385 bps —
40.4% — 36.5% EPS (₹)
-37.4% +60.5%
6.63 4.13 10.59
Quality of profit
Pre-tax profit ₹63.0 Cr: core business ₹25.0 Cr, other income ₹38.0 Cr.
Core profit YoY: +10.8%
· reported profit -15.2%
Cash & debt
FY26 cash from operations −₹54.0 Cr:
-28% of FY26 net profit of ₹196 Cr.
Borrowings ₹99.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹96.5 ₹114
+18.2% above Net profit ₹69.5 ₹46.0
-33.8% below
M Cap ₹2,372 Cr
P/E 0.5
PEG 0.01
Operating margin contracted 1837 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
-2.6% -6.9%
4,001 4,297 4,108 Operating profit
to loss to loss -721 838 14.3 OPM %
-1837 bps -3752 bps
-18.0% 19.5% 0.3% Other income
— +282.6%
2,574 673 160 Net profit?
-62.6% —
1,640 11.1 4,387 PAT margin %
— +4073 bps
41.0% 0.3% — EPS (₹)
-79.7% —
22.47 0.27 110.75
Quality of profit
Pre-tax profit ₹1,155 Cr: core business −₹1,419 Cr, other income ₹2,574 Cr.
Core profit YoY: loss widened
· reported profit -62.6%
Cash & debt
FY26 cash from operations ₹2,550 Cr:
66% of FY26 net profit of ₹3,867 Cr.
Borrowings ₹4,937 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹3,554 ₹4,001
+12.6% above
M Cap ₹2,360 Cr
P/E 15.6
PEG 1.30
Profit +33% above its own trend 31% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -2%) FY26 operating cash flow was only 44% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+18.1% +17.8%
685 582 580 Operating profit
+11.6% +11.8%
77.0 68.9 69.0 OPM %
-66 bps -60 bps
11.2% 11.8% 11.9% Other income
+900.0% —
20.0 0.9 2.0 Net profit?
+35.3% +40.4%
46.0 32.8 34.0 PAT margin %
+85 bps +108 bps
6.7% 5.6% 5.9% EPS (₹)
+33.4% +40.2%
8.30 5.92 6.22
Quality of profit
Pre-tax profit ₹64.0 Cr: core business ₹44.0 Cr, other income ₹20.0 Cr.
Core profit YoY: -2.2%
· reported profit +35.3%
Cash & debt
FY26 cash from operations ₹65.0 Cr:
44% of FY26 net profit of ₹149 Cr.
Borrowings ₹436 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹670 ₹685
+2.2% in line Net profit ₹34.5 ₹46.0
+33.3% above
Into loss: a profit a year ago Profit -102% below its own trend Operating margin contracted 244 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
+10.2% +40.4%
347 247 315 Operating profit
-25.0% +50.1%
18.0 12.0 24.0 OPM %
-244 bps +34 bps
5.2% 4.9% 7.6% Other income
-55.5% +163.9%
1.5 0.6 3.4 Net profit?
to loss loss narrowed -0.1 -4.8 9.9 PAT margin %
-317 bps +189 bps
-0.0% -1.9% 3.1% EPS (₹)
to loss loss narrowed -0.03 -1.08 2.24
Quality of profit
Pre-tax profit ₹1.4 Cr: core business −₹0.1 Cr, other income ₹1.5 Cr.
Core profit YoY: to loss
Cash & debt
FY26 cash from operations ₹35.0 Cr:
750% of FY26 net profit of ₹4.7 Cr.
Borrowings ₹124 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹288 ₹347
+20.3% above Net profit ₹5.8 −₹0.1
-102.2% below
M Cap ₹2,336 Cr
P/E 144.9
PEG 1.04
Operating margin contracted 216 bps YoY 33% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+18.8% +18.2%
851 720 716 Operating profit
+6.8% +44.2%
163 113 153 OPM %
-216 bps +346 bps
19.2% 15.7% 21.3% Other income
+88.2% +114.3%
15.0 7.0 8.0 Net profit?
-48.9% from loss 22.0 -13.0 43.1 PAT margin %
-343 bps +439 bps
2.6% -1.8% 6.0% EPS (₹)
-49.5% from loss 1.39 -0.83 2.75
Quality of profit
Pre-tax profit ₹46.0 Cr: core business ₹31.0 Cr, other income ₹15.0 Cr.
Core profit YoY: -1.5%
· reported profit -48.9%
Cash & debt
FY26 cash from operations ₹491 Cr:
506% of FY26 net profit of ₹97.0 Cr.
Borrowings ₹3,076 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹862 ₹851
-1.3% in line
M Cap ₹2,335 Cr
P/E 13.6
PEG 0.18
Profit +999% above its own trend 87% of pre-tax profit came from other income and one-off items FY26 operating cash flow was only 48% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+9.4% -10.9%
327 367 299 Operating profit
+9.1% -14.9%
28.0 32.9 25.7 OPM %
-2 bps -41 bps
8.6% 9.0% 8.6% Other income
— —
103 0.3 0.3 Net profit
— —
142 7.4 10.5 PAT margin %
+3992 bps +4142 bps
43.4% 2.0% 3.5% EPS (₹)
— —
19.50 1.01 1.44
Quality of profit
Pre-tax profit ₹119 Cr: core business ₹15.0 Cr, other income ₹103 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +25.8%
Cash & debt
FY26 cash from operations ₹83.0 Cr:
48% of FY26 net profit of ₹172 Cr.
Borrowings ₹202 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹319 ₹327
+2.4% in line Net profit ₹10.8 ₹142
+999.0% above
M Cap ₹2,265 Cr
P/E 63.0
PEG 12.60
Profit -28% below its own trend Operating margin expanded 133 bps YoY 78% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit -24%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-12.0% -33.5%
118 177 134 Operating profit
+2.4% -57.4%
11.2 26.2 10.9 OPM %
+133 bps -534 bps
9.5% 14.8% 8.2% Other income
+25.0% -0.3%
6.3 6.4 5.1 Net profit
-3.0% -65.6%
6.0 17.5 6.2 PAT margin %
+47 bps -478 bps
5.1% 9.9% 4.6% EPS (₹)
-3.0% -65.6%
23.42 68.16 24.14
Quality of profit
Pre-tax profit ₹8.1 Cr: core business ₹1.8 Cr, other income ₹6.3 Cr.
Core profit YoY: -23.9%
· reported profit -3.0%
Cash & debt
FY26 cash from operations ₹59.0 Cr:
167% of FY26 net profit of ₹35.3 Cr.
Borrowings ₹48.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹148 ₹118
-20.7% below Net profit ₹8.3 ₹6.0
-27.7% below
M Cap ₹2,246 Cr
P/E 89.4
PEG —
Profit -70% below its own trend Operating margin contracted 2394 bps YoY 74% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
to loss to loss -206 75.4 43.4 Operating profit
+457.4% -2.4%
26.6 27.3 4.8 OPM %
-2394 bps -4909 bps
-12.9% 36.2% 11.0% Other income
-88.3% +79.8%
6.7 3.7 57.1 Net profit?
-84.8% -6.1%
7.8 8.3 51.2 PAT margin %
— -1475 bps
-3.8% 11.0% — EPS (₹)
-84.8% -6.3%
0.59 0.63 3.87
Quality of profit
Pre-tax profit ₹9.0 Cr: core business ₹2.3 Cr, other income ₹6.7 Cr.
Core profit YoY: from loss
· reported profit -84.8%
Cash & debt
FY26 cash from operations ₹178 Cr:
284% of FY26 net profit of ₹62.7 Cr.
Borrowings ₹50.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹23.7 −₹206
-968.9% below Net profit ₹25.6 ₹7.8
-69.6% below
M Cap ₹2,233 Cr
P/E 28.6
PEG 0.60
Profit -49% below its own trend Operating margin expanded 4050 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
+64.9% +81.8%
160 88.0 97.0 Operating profit
+875.0% —
78.0 2.0 8.0 OPM %
+4050 bps +4648 bps
48.8% 2.3% 8.2% Other income
-2.3% -2.3%
43.0 44.0 44.0 Net profit?
-13.0% +13.0%
26.0 23.0 29.9 PAT margin %
-1456 bps -989 bps
16.2% 26.1% 30.8% EPS (₹)
+519.2% +2.5%
1.61 1.57 0.26
Quality of profit
Pre-tax profit ₹36.0 Cr: core business −₹8.0 Cr, other income ₹43.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: loss narrowed
· reported profit -13.0%
Cash & debt
FY26 cash from operations ₹187 Cr:
140% of FY26 net profit of ₹134 Cr.
Borrowings ₹1,197 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹122 ₹160
+31.2% above Net profit ₹51.0 ₹26.0
-49.1% below
M Cap ₹2,227 Cr
P/E 22.6
PEG —
Operating margin contracted 403 bps YoY 33% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+30.5% +48.9%
402 270 308 Operating profit
-10.0% +176.9%
36.0 13.0 40.0 OPM %
-403 bps +414 bps
9.0% 4.8% 13.0% Other income
+12.5% from loss 9.0 -3.0 8.0 Net profit?
-9.1% from loss 20.0 -6.0 22.0 PAT margin %
-217 bps +720 bps
5.0% -2.2% 7.1% EPS (₹)
-24.3% from loss 4.40 -1.38 5.81
Quality of profit
Pre-tax profit ₹27.0 Cr: core business ₹18.0 Cr, other income ₹9.0 Cr.
Core profit YoY: -28.0%
· reported profit -9.1%
M Cap ₹2,212 Cr
P/E 99.6
PEG 1.04
Operating margin contracted 433 bps YoY 33% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +42%)
₹ Cr YoY vs prev. half
Mar 2026 Sep 2025 Mar 2025
Sales
+51.9% +53.4%
48.6 31.7 32.0 Operating profit
+32.8% +58.7%
14.6 9.2 11.0 OPM %
-433 bps +100 bps
30.0% 29.0% 34.4% Other income
+544.2% —
6.4 0.3 1.0 Net profit?
+75.5% +174.3%
12.3 4.5 7.0 PAT margin %
+340 bps +1113 bps
25.3% 14.1% 21.9% EPS (₹)
+47.6% +144.7%
8.59 3.51 5.82
Quality of profit
Pre-tax profit ₹18.9 Cr: core business ₹12.8 Cr, other income ₹6.4 Cr.
Core profit YoY: +41.7%
· reported profit +75.5%
Cash & debt
FY26 cash from operations −₹19.0 Cr.
Borrowings ₹8.0 Cr at Mar 2026.
M Cap ₹2,185 Cr
P/E 1.3
PEG 0.02
Profit -29% below its own trend Operating margin expanded 437 bps YoY 41% of pre-tax profit came from other income and one-off items FY26 operating cash flow was only 3% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-9.3% +17.2%
135 115 149 Operating profit
+23.9% +3.7%
22.0 21.2 17.8 OPM %
+437 bps -213 bps
16.3% 18.4% 11.9% Other income
+116.1% +172.7%
15.0 5.5 6.9 Net profit?
+41.3% +32.2%
25.0 18.9 17.7 PAT margin %
+663 bps +210 bps
18.5% 16.4% 11.9% EPS (₹)
+68.8% +17.4%
0.27 0.23 0.16
Quality of profit
Pre-tax profit ₹34.0 Cr: core business ₹20.0 Cr, other income ₹15.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +22.3%
· reported profit +41.3%
Cash & debt
FY26 cash from operations ₹58.0 Cr:
3% of FY26 net profit of ₹1,720 Cr.
Borrowings ₹1.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹249 ₹135
-45.7% below Net profit ₹35.4 ₹25.0
-29.4% below
M Cap ₹2,147 Cr
P/E 25.2
PEG —
Profit -91% below its own trend Operating margin contracted 521 bps YoY 44% of pre-tax profit came from other income and one-off items Exceptional items of ₹-5.5 Cr in the quarter
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
-11.9% +0.6%
161 160 183 Operating profit
-32.4% +14.9%
27.7 24.1 41.0 OPM %
-521 bps +214 bps
17.2% 15.0% 22.4% Other income
-93.5% +85.5%
13.7 7.4 211 Net profit?
-90.0% +15.2%
16.4 14.3 165 PAT margin %
-7996 bps +129 bps
10.2% 8.9% 90.2% EPS (₹)
-90.1% +15.1%
0.61 0.53 6.15
Quality of profit
Pre-tax profit ₹21.7 Cr: core business ₹12.1 Cr, other income ₹13.7 Cr, exceptional & other items −₹4.1 Cr.
Core profit YoY: -55.3%
· reported profit -90.0%
Cash & debt
FY26 cash from operations ₹135 Cr:
158% of FY26 net profit of ₹85.3 Cr.
Borrowings ₹49.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹175 ₹161
-7.9% below Net profit ₹189 ₹16.4
-91.3% below
M Cap ₹2,132 Cr
P/E 16.8
PEG 2.09
Profit +999% above its own trend 39% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +195%)
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+17.1% +4.8%
1,609 1,535 1,374 Operating profit
+32.6% +200.0%
126 42.0 95.0 OPM %
+92 bps +509 bps
7.8% 2.7% 6.9% Other income
+270.0% +825.0%
37.0 4.0 10.0 Net profit?
+633.3% from loss 88.0 -40.0 12.0 PAT margin %
+460 bps +808 bps
5.5% -2.6% 0.9% EPS (₹)
+689.4% from loss 51.94 -35.41 6.58
Quality of profit
Pre-tax profit ₹92.0 Cr: core business ₹56.0 Cr, other income ₹37.0 Cr, exceptional & other items −₹1.0 Cr.
Core profit YoY: +194.7%
· reported profit +633.3%
Cash & debt
FY26 cash from operations ₹280 Cr:
206% of FY26 net profit of ₹136 Cr.
Borrowings ₹1,021 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹2,134 ₹1,609
-24.6% below Net profit ₹6.0 ₹88.0
+999.0% above
M Cap ₹2,026 Cr
P/E 4.9
PEG 0.27
Profit +700% above its own trend Operating margin expanded 316 bps YoY 87% of pre-tax profit came from other income and one-off items Profit grew faster than the core business (core profit +46%) FY26 operating cash flow was only 42% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+27.2% +16.6%
159 136 125 Operating profit
+42.4% +11.4%
47.0 42.2 33.0 OPM %
+316 bps -137 bps
29.6% 30.9% 26.4% Other income
— —
285 1.9 6.0 Net profit?
+814.3% +765.1%
320 37.0 35.0 EPS (₹)
+818.9% +764.4%
51.00 5.90 5.55
Quality of profit
Pre-tax profit ₹326 Cr: core business ₹41.0 Cr, other income ₹285 Cr.
Core profit YoY: +46.4%
· reported profit +814.3%
Cash & debt
FY26 cash from operations ₹173 Cr:
42% of FY26 net profit of ₹411 Cr.
Borrowings ₹128 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹134 ₹159
+18.2% above Net profit ₹40.0 ₹320
+700.4% above
M Cap ₹2,006 Cr
P/E 11.6
PEG —
Profit -31% below its own trend Operating margin expanded 858 bps YoY 26% of pre-tax profit came from other income and one-off items Core business grew faster than reported profit (core profit +79%) Operating cash flow was negative in FY26 despite a profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+19.5% +0.0%
202 202 169 Operating profit
+79.3% -1.9%
52.0 53.0 29.0 OPM %
+858 bps -50 bps
25.7% 26.2% 17.2% Other income
-57.5% +240.0%
17.0 5.0 40.0 Net profit
-10.0% +28.6%
54.0 42.0 60.0 PAT margin %
-877 bps +594 bps
26.7% 20.8% 35.5% EPS (₹)
-10.5% +28.7%
23.67 18.39 26.46
Quality of profit
Pre-tax profit ₹68.0 Cr: core business ₹50.0 Cr, other income ₹17.0 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: +78.6%
· reported profit -10.0%
Cash & debt
FY26 cash from operations −₹96.0 Cr:
-61% of FY26 net profit of ₹157 Cr.
Borrowings nil at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹193 ₹202
+4.5% in line Net profit ₹78.8 ₹54.0
-31.4% below
M Cap ₹1,992 Cr
P/E 29.9
PEG 0.71
Profit -50% below its own trend Operating margin contracted 940 bps YoY 48% of pre-tax profit came from other income and one-off items FY26 operating cash flow was only 42% of profit
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+15.8% -21.2%
137 175 119 Operating profit
-54.4% -76.2%
8.4 35.3 18.4 OPM %
-940 bps -1411 bps
6.1% 20.2% 15.5% Other income
+702.9% +992.0%
5.5 0.5 0.7 Net profit
-25.5% -68.0%
8.3 25.9 11.1 PAT margin %
-334 bps -882 bps
6.0% 14.9% 9.4% EPS (₹)
-27.3% -69.2%
0.08 0.26 0.11
Quality of profit
Pre-tax profit ₹11.4 Cr: core business ₹5.9 Cr, other income ₹5.5 Cr.
Core profit YoY: -31.6%
· reported profit -25.5%
Cash & debt
FY26 cash from operations ₹27.0 Cr:
42% of FY26 net profit of ₹63.7 Cr.
Borrowings ₹39.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹119 ₹137
+15.8% above Net profit ₹16.5 ₹8.3
-49.7% below
M Cap ₹1,991 Cr
P/E 98.6
PEG 3.65
Profit +265% above its own trend Operating margin expanded 319 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
+10.3% +22.2%
396 324 359 Operating profit
loss narrowed loss narrowed -1.6 -27.5 -12.8 OPM %
+319 bps +809 bps
-0.4% -8.5% -3.6% Other income
+14.8% +57.4%
41.9 26.6 36.5 Net profit?
+82.3% from loss 21.0 -9.8 11.5 PAT margin %
+210 bps +836 bps
5.3% -3.0% 3.2% EPS (₹)
+82.1% from loss 1.02 -0.48 0.56
Quality of profit
Pre-tax profit ₹28.2 Cr: core business −₹13.6 Cr, other income ₹41.9 Cr.
Core profit YoY: loss narrowed
· reported profit +82.3%
Cash & debt
FY26 cash from operations −₹182 Cr:
-676% of FY26 net profit of ₹26.9 Cr.
Borrowings ₹3.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹320 ₹396
+23.8% above Net profit ₹5.8 ₹21.0
+264.6% above
M Cap ₹1,945 Cr
P/E 504.0
PEG —
Turnaround: profit against a loss a year ago Operating margin contracted 263 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
+17.3% +1.1%
79.2 78.3 67.5 Operating profit
-15.1% -30.1%
5.5 7.8 6.4 OPM %
-263 bps -308 bps
6.9% 10.0% 9.5% Other income
-26.9% from loss 1.9 -3.1 2.6 Net profit?
from loss from loss 1.1 -1.2 -4.1 PAT margin %
+742 bps +290 bps
1.4% -1.5% -6.0% EPS (₹)
from loss from loss 0.48 -0.52 -1.79
Quality of profit
Pre-tax profit ₹1.8 Cr: core business −₹0.2 Cr, other income ₹1.9 Cr.
Core profit YoY: loss narrowed
Cash & debt
FY26 cash from operations ₹15.0 Cr:
452% of FY26 net profit of ₹3.3 Cr.
Borrowings ₹73.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹63.1 ₹79.2
+25.4% above
27% of pre-tax profit came from other income and one-off items
₹ Cr
Mar 2026
Sales
131 Operating profit
23.0 OPM %
17.6% Other income
7.0 Net profit
21.0 PAT margin %
16.0% EPS (₹)
5.48
Dec 2025 and Mar 2025 are not on record for this company, so there is nothing to compare with yet.
Quality of profit
Pre-tax profit ₹26.0 Cr: core business ₹19.0 Cr, other income ₹7.0 Cr.
Turnaround: profit against a loss a year ago Operating margin expanded 2460 bps YoY 79% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+7.8% -0.1%
289 289 268 Operating profit
from loss +50.7%
10.1 6.7 -56.5 OPM %
+2460 bps +118 bps
3.5% 2.3% -21.1% Other income
-66.9% -57.1%
3.5 8.3 10.7 Net profit?
from loss +8.1%
4.4 4.0 -56.0 PAT margin %
+2244 bps +12 bps
1.5% 1.4% -20.9% EPS (₹)
from loss +9.8%
0.56 0.51 -7.21
Quality of profit
Pre-tax profit ₹4.5 Cr: core business ₹0.9 Cr, other income ₹3.5 Cr.
Core profit YoY: from loss
Cash & debt
FY26 cash from operations −₹78.0 Cr.
Borrowings ₹276 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹260 ₹289
+11.1% above
M Cap ₹1,895 Cr
P/E 21.3
PEG —
Profit -99% below its own trend Operating margin contracted 371 bps YoY 56% of pre-tax profit came from other income and one-off items
₹ Cr YoY QoQ
Mar 2026 Dec 2025 Mar 2025
Sales
+14.6% +11.3%
650 584 567 Operating profit
-18.2% +8.5%
60.0 55.3 73.4 OPM %
-371 bps -24 bps
9.2% 9.5% 12.9% Other income
-88.1% -78.7%
7.3 34.2 61.1 Net profit?
-98.2% -94.5%
1.8 32.6 103 PAT margin %
-1779 bps -531 bps
0.3% 5.6% 18.1% EPS (₹)
-98.2% -94.5%
0.13 2.36 7.41
Quality of profit
Pre-tax profit ₹14.6 Cr: core business ₹6.4 Cr, other income ₹7.3 Cr, exceptional & other items ₹1.0 Cr.
Core profit YoY: from loss
· reported profit -98.2%
Cash & debt
FY26 cash from operations ₹263 Cr:
380% of FY26 net profit of ₹69.2 Cr.
Borrowings ₹1,029 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹607 ₹650
+7.1% above Net profit ₹191 ₹1.8
-99.1% below
M Cap ₹1,888 Cr
P/E 281.0
PEG —
Profit -96% below its own trend Operating margin contracted 530 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
+6.5% -4.2%
399 416 375 Operating profit
-37.5% -26.7%
29.9 40.8 48.0 OPM %
-530 bps -230 bps
7.5% 9.8% 12.8% Other income
+17.7% +33.8%
4.6 3.4 3.9 Net profit
-95.3% -86.6%
1.4 10.2 29.4 PAT margin %
-750 bps -212 bps
0.3% 2.5% 7.8% EPS (₹)
-95.4% -86.9%
0.11 0.84 2.40
Quality of profit
Pre-tax profit ₹1.1 Cr: core business −₹3.5 Cr, other income ₹4.6 Cr.
Core profit YoY: to loss
· reported profit -95.3%
Cash & debt
FY26 cash from operations ₹111 Cr.
Borrowings ₹370 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹394 ₹399
+1.3% in line Net profit ₹32.2 ₹1.4
-95.7% below
M Cap ₹1,884 Cr
P/E 28.5
PEG —
Profit -29% below its own trend Operating margin contracted 466 bps YoY 31% 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
-1.5% -1.9%
265 270 269 Operating profit
-30.2% -6.2%
30.0 32.0 43.0 OPM %
-466 bps -53 bps
11.3% 11.9% 16.0% Other income
+0.0% from loss 11.0 -3.0 11.0 Net profit
-25.0% +58.8%
27.0 17.0 36.0 PAT margin %
-319 bps +389 bps
10.2% 6.3% 13.4% EPS (₹)
-25.6% +61.5%
26.54 16.43 35.65
Quality of profit
Pre-tax profit ₹35.0 Cr: core business ₹24.0 Cr, other income ₹11.0 Cr.
Core profit YoY: -35.1%
· reported profit -25.0%
Cash & debt
FY26 cash from operations −₹11.0 Cr:
-17% of FY26 net profit of ₹64.0 Cr.
Borrowings ₹1.0 Cr at Mar 2026.
Against its own trend ?
Trend Actual Gap
Sales ₹301 ₹265
-12.1% below Net profit ₹38.1 ₹27.0
-29.1% 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, 17:43 IST
