Tech Mahindra – Q2 FY26 Earnings Highlights
| Metric | Reported | QoQ Change | QoQ Base | CNBC-TV18 Poll | Beat / Miss |
|---|---|---|---|---|---|
| Revenue | ₹13,995 Cr | ▲ 4.8% | ₹13,351 Cr | ₹13,805 Cr | Beat |
| EBIT | ₹1,699.4 Cr | ▲ 15.1% | ₹1,477 Cr | ₹1,622 Cr | Beat |
| Net Profit | ₹1,195 Cr | ▲ 4.8% | ₹1,141 Cr | ₹1,317 Cr | Miss |
| EBIT Margin | 12.1% | ▲ from 11.1% | 11.1% | – | Improved |
| Interim Dividend | ₹15 per share | – | – | – | Announced |
Verdict
Tech Mahindra delivered a steady Q2 FY26 with broad-based QoQ growth in revenue, EBIT, and margins. While net profit was slightly below street estimates, operational performance remained strong with improved profitability and a healthy dividend payout, signaling management’s confidence in business momentum.
Persistent Systems – Q2 FY26 Earnings Highlights
| Metric | Value | QoQ Change | QoQ Base | Poll / Estimate |
|---|---|---|---|---|
| Revenue | ₹3,580 Cr | ▲ 7.4% | ₹3,333.6 Cr | ₹3,521 Cr |
| EBIT | ₹583 Cr | ▲ 12.6% | ₹517.8 Cr | ₹552 Cr |
| Net Profit | ₹471.4 Cr | ▲ 10.9% | ₹424.9 Cr | ₹436 Cr |
| EBIT Margin | 16.3% | ▲ from 15.5% | 15.5% | 15.7% |
| $ Revenue | $406.2 Mn | ▲ 3.3% | $389.7 Mn | $405 Mn |
| Constant Currency Growth | 4.4% | ▲ QoQ | — | 3.9% |
Verdict
Persistent Systems delivered a strong Q2 FY26 performance, exceeding market expectations across revenue, EBIT, and margins. Robust demand, operational efficiency, and steady deal momentum supported double-digit profit growth. The outlook remains positive with continued traction in digital and cloud services.
Indian Renewable – Q2 FY26 Earnings Highlights
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹2,057 Cr | ▲ 26% | ₹1,630 Cr | ▲ 6% | ₹1,947 Cr |
| EBITDA | ₹1,919 Cr | ▲ 28% | ₹1,499 Cr | ▲ 26% | ₹1,521 Cr |
| Net Profit | ₹549 Cr | ▲ 42% | ₹388 Cr | ▲ 122% | ₹247 Cr |
| EPS | ₹1.95 | ▲ 35% | ₹1.44 | ▲ 122% | ₹0.88 |
Verdict
Indian Renewable delivered a strong Q2 FY26 performance with healthy year-on-year and sequential growth across all key metrics. The sharp QoQ jump in profitability highlights operational efficiency and improved project execution, reinforcing the company’s strong growth momentum in the renewable energy sector.
Cyient DLM – Q2 FY26 Earnings Highlights
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹311 Cr | ▼ 20% | ₹389 Cr | ▲ 12% | ₹278 Cr |
| EBITDA | ₹31.2 Cr | ▼ 1% | ₹31.6 Cr | ▲ 24% | ₹25.1 Cr |
| Net Profit | ₹32.2 Cr | ▲ 108% | ₹15.4 Cr | ▲ 331% | ₹7.46 Cr |
| EPS | ₹4.05 | ▲ 108% | ₹1.95 | ▲ 331% | ₹0.94 |
Verdict
Despite a dip in revenue, Cyient DLM delivered a stellar earnings rebound in Q2 FY26. Strong operational leverage and margin efficiency led to a significant surge in net profit and EPS both YoY and QoQ. The results signal improving profitability and strong execution momentum heading into the next quarters.
Rama Phosphates – Q2 FY26 Earnings Highlights
Price ₹157 | M.Cap ₹557 Cr | PE 13.2
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹246 Cr | ▲ 17% | ₹209 Cr | ▲ 29% | ₹190 Cr |
| EBITDA | ₹26.8 Cr | ▲ 154% | ₹10.6 Cr | ▲ 0% | ₹26.7 Cr |
| Net Profit | ₹17.3 Cr | ▲ 461% | ₹3.08 Cr | ▲ 8% | ₹16.0 Cr |
| EPS | ₹4.88 | ▲ 461% | ₹0.87 | ▲ 8% | ₹4.53 |
Verdict
Rama Phosphates delivered an exceptional Q2 FY26 performance, with robust year-on-year growth across all metrics, led by a sharp surge in profitability and margins. Sequentially, the company maintained strong operating momentum, reflecting efficient cost management and stable fertilizer demand.
ICICI Lombard – Q2 FY26 Earnings Highlights
Price: ₹1,855 | M.Cap: ₹92,250 Cr | PE: 32.9
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹6,869 Cr | ▲ 12% | ₹6,147 Cr | ▲ 7% | ₹6,396 Cr |
| EBITDA | ₹1,044 Cr | ▲ 11% | ₹940 Cr | ▲ 6% | ₹981 Cr |
| Net Profit | ₹820 Cr | ▲ 18% | ₹694 Cr | ▲ 10% | ₹747 Cr |
| EPS | ₹16.47 | ▲ 17% | ₹14.03 | ▲ 9% | ₹15.04 |
Verdict
ICICI Lombard posted a strong Q2 FY26 performance with healthy double-digit year-on-year growth across revenue and profitability. Sequential gains indicate continued premium growth, operational efficiency, and sustained underwriting discipline. The insurer maintains steady earnings momentum, supported by robust margins and a solid balance sheet.
ICICI Securities – Q2 FY26 Earnings Highlights
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹1,422 Cr | ▼ 17% | ₹1,707 Cr | ▲ 1% | ₹1,409 Cr |
| EBITDA | ₹1,017 Cr | ▼ 13% | ₹1,168 Cr | ▲ 5% | ₹969 Cr |
| Net Profit | ₹425 Cr | ▼ 20% | ₹529 Cr | ▲ 9% | ₹391 Cr |
| EPS | ₹13.07 | ▼ 20% | ₹16.33 | ▲ 9% | ₹12.03 |
Verdict
ICICI Securities reported a subdued year-on-year performance due to lower market activity, but quarter-on-quarter improvement across all key metrics indicates a gradual recovery in profitability and operational momentum.
Aditya Birla Money – Q2 FY26 Earnings Highlights
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹107 Cr | ▼ 16% | ₹127 Cr | ▼ 5% | ₹113 Cr |
| EBITDA | ₹46.6 Cr | ▼ 32% | ₹68.0 Cr | ▼ 15% | ₹54.7 Cr |
| Net Profit | ₹10.2 Cr | ▼ 62% | ₹26.7 Cr | ▼ 34% | ₹15.4 Cr |
| EPS | ₹1.80 | ▼ 62% | ₹4.72 | ▼ 34% | ₹2.72 |
Verdict
Aditya Birla Money reported a weak Q2 FY26 performance, with declines across all key metrics both YoY and QoQ. The sharp fall in profitability reflects margin pressure and lower revenue traction, indicating a subdued quarter for the company.
ICICI Prudential Life – Q2 FY26 Earnings Highlights
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹11,936 Cr | ▼ 53% | ₹25,158 Cr | ▼ 53% | ₹25,401 Cr |
| EBITDA | –₹19.2 Cr | ▼ 100%+ | ₹319 Cr | ▼ 100%+ | ₹213 Cr |
| Net Profit | ₹296 Cr | ▲ 18% | ₹251 Cr | ▼ 2% | ₹301 Cr |
| EPS | ₹2.04 | ▲ 17% | ₹1.74 | ▼ 2% | ₹2.08 |
Verdict
Despite resilient profitability on a yearly basis, ICICI Prudential Life’s Q2 FY26 results highlight operational headwinds with steep revenue and EBITDA contraction. The modest YoY profit growth suggests strong cost control, but the sharp dip in topline and margins signals a need for recovery momentum in the coming quarters.
Auto Corporation of Goa – Q2 FY26 Earnings Highlights
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹206 Cr | ▲ 59% | ₹130 Cr | ▼ 20% | ₹256 Cr |
| EBITDA | ₹17.0 Cr | ▲ 145% | ₹6.96 Cr | ▼ 39% | ₹27.9 Cr |
| Net Profit | ₹14.6 Cr | ▲ 99% | ₹7.34 Cr | ▼ 37% | ₹23.1 Cr |
| EPS | ₹24.04 | ▲ 99% | ₹12.06 | ▼ 37% | ₹37.89 |
Verdict
Auto Corporation of Goa delivered strong year-on-year growth across all key metrics, reflecting robust demand recovery and operational efficiency. However, sequential moderation in sales and profitability indicates a softer quarter-on-quarter performance, likely due to cyclical factors or cost normalization post a strong Q1. Overall, the company maintains solid annual momentum.
Leela Palaces Hotels – Q2 FY26 Earnings Highlights
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹311 Cr | ▲ 12% | ₹277 Cr | ▲ 13% | ₹275 Cr |
| EBITDA | ₹136 Cr | ▲ 19% | ₹114 Cr | ▲ 35% | ₹101 Cr |
| Net Profit | ₹74.7 Cr | ▲ 246% | (Loss of ₹51.2 Cr) | ▲ 757% | ₹8.71 Cr |
| EPS | ₹2.24 | ▲ from loss | – | ▲ from ₹0.26 | ₹0.26 |
Verdict
Leela Palaces Hotels delivered a strong Q2 FY26 performance, showcasing a robust recovery in profitability. Revenue growth remained healthy, while sharp improvement in margins boosted EBITDA and net profit. The massive year-on-year and quarter-on-quarter turnaround underscores a strong revival in luxury hospitality demand and improved operational efficiency.
Navkar Corporation – Q2 FY26 Earnings Highlights
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹162 Cr | ▲ 19% | ₹136 Cr | ▲ 17% | ₹138 Cr |
| EBITDA | ₹24.4 Cr | ▲ 39% | ₹17.6 Cr | ▲ 20% | ₹20.4 Cr |
| Net Profit | ₹4.35 Cr | ▲ 437% | ₹-2.30 Cr | ▲ 78% | ₹2.45 Cr |
| EPS | ₹0.29 | ▲ 293% | ₹-0.15 | ▲ 81% | ₹0.16 |
Verdict
Navkar Corporation delivered a robust Q2 FY26 performance with strong year-on-year and quarter-on-quarter growth across all key metrics. The sharp turnaround in profitability and margin improvement reflect operational efficiency and better cargo movement trends.
Bank of Maharashtra – Q2 FY25 Earnings Highlights
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Net Profit | ₹1,633 Cr | ▲ 23.2% | ₹1,327 Cr | – | – |
| Net Interest Income (NII) | ₹3,248 Cr | ▲ 15.7% | ₹2,807 Cr | – | – |
| Gross NPA | 1.72% | – | – | ▼ 2 bps | 1.74% |
| Gross NPA (Value) | ₹4,372 Cr | – | – | ▲ QoQ | ₹4,206 Cr |
| Net NPA | 0.18% | – | – | ▬ Stable | 0.18% |
| Net NPA (Value) | ₹442.1 Cr | – | – | ▲ QoQ | ₹434.4 Cr |
Verdict
Bank of Maharashtra delivered a strong quarter with solid year-on-year growth in profit and NII, supported by stable asset quality. Margins remain resilient, and NPAs continue to be well-contained, highlighting robust operational efficiency and credit discipline.
