Persistent Systems – Q4 FY26 Earnings Highlights
| Metric | Actual | QoQ Change | QoQ Base | Estimate | Vs Estimate |
|---|---|---|---|---|---|
| Revenue | ₹4,056 Cr | ▲ 7.4% | ₹3,778 Cr | ₹3,973 Cr | Beat |
| $ Revenue | $436 Mn | ▲ 3.1% | $423 Mn | $438 Mn | Miss |
| EBIT | ₹659 Cr | ▲ 21.4% | ₹543 Cr | ₹671 Cr | Miss |
| EBIT Margin | 16.3% | ▲ 1.9% | 14.4% | 16.9% | Miss |
| Net Profit | ₹529 Cr | ▲ 20.4% | ₹439 Cr | ₹535 Cr | Slight Miss |
| CC Revenue Growth | 3.4% | ▲ 3.4% | — | 3.8% | Miss |
Verdict
Persistent Systems delivered a mixed Q4 FY26 performance. Revenue in rupee terms beat estimates, but profitability metrics (EBIT, margins, PAT) came slightly below expectations. Sequential growth remained healthy across revenue and profit, with margin improvement QoQ indicating operational strength. However, constant-currency growth and dollar revenue softness vs estimates may keep near-term sentiment neutral. Overall bias: steady execution, but not a strong beat quarter.
Nestlé India – Q4 FY26 Earnings Highlights 📊
| Metric | Actual | YoY Change | YoY Base | Estimate | Vs Estimate | Miss / Beat |
|---|---|---|---|---|---|---|
| Net Profit | ₹1,114 Cr | ▲ 26% | ₹885 Cr | ₹998 Cr | ▲ 11.62% | Beat |
| Revenue | ₹6,748 Cr | ▲ 22.6% | ₹5,504 Cr | ₹6,250 Cr | ▲ 8% | Beat |
| EBITDA | ₹1,773 Cr | ▲ 27.6% | ₹1,389 Cr | ₹1,530 Cr | ▲ 15.88% | Beat |
| EBITDA Margin | 26.30% | ▲ 110 bps | 25.20% | 24.50% | ▲ 180 bps | Beat |
Verdict
Nestlé India delivered a strong Q4 FY26 performance, beating street estimates across profit, revenue, and EBITDA, with healthy double-digit YoY growth and a notable margin expansion. The improvement in operating leverage and profitability signals robust demand momentum and cost efficiency, reinforcing a positive near-term earnings outlook for the stock.
Tata Elxsi – Q4 FY26 Earnings Highlights
Price: ₹4,651 | M.Cap: ₹29,001 Cr | PE: 41.7
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹994 Cr | ▲ 9% | ₹908 Cr | ▲ 4% | ₹953 Cr |
| EBITDA | ₹245 Cr | ▲ 18% | ₹208 Cr | ▲ 10% | ₹222 Cr |
| Net Profit | ₹220 Cr | ▲ 28% | ₹172 Cr | ▲ 102% | ₹109 Cr |
| EPS | ₹35.37 | ▲ 28% | ₹27.68 | ▲ 102% | ₹17.48 |
Verdict
Tata Elxsi delivered steady revenue growth with strong profitability expansion in Q4 FY26. EBITDA improved meaningfully, while net profit and EPS more than doubled sequentially, indicating margin recovery and improved execution momentum. Overall, results signal healthy operational strength despite moderate top-line growth, supporting a constructive medium-term outlook.
HCL Technologies – Q4 FY26 Earnings Highlights
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹33,981 Cr | ▲ 12% | ₹30,246 Cr | ▲ 0.3% | ₹33,872 Cr |
| EBITDA | ₹6,712 Cr | ▲ 4% | ₹6,482 Cr | ▼ 9% | ₹7,412 Cr |
| Net Profit | ₹4,490 Cr | ▲ 4% | ₹4,309 Cr | ▲ 10% | ₹4,082 Cr |
| EPS | ₹16.54 | ▲ 4% | ₹15.87 | ▲ 10% | ₹15.02 |
Key Operational Highlights
- FY26 Revenue Growth: 3.9% vs guidance 4–4.5% (guidance miss despite earlier upgrade)
- FY27 Revenue Guidance: 1%–4% CC (below street expectation of 3%–6%)
- FY27 Margin Guidance: improved to 17.5%–18.5% (positive surprise)
- Advanced AI Revenue: $155M ▲ 6.1% QoQ CC
- SAP Projects: 2 projects discontinued late in Q4
- Telecom Segment: discretionary spending reduced
- Deflationary Impact: ~2–3% pressure expected
- Management Commentary: weak visibility; impact may continue into Q1 FY27
Verdict
HCL Technologies delivered muted Q4 FY26 performance with constant currency revenue softness, EBITDA decline sequentially, and cautious management commentary. More importantly, FY27 growth guidance of 1–4% disappointed the Street, reflecting weak discretionary tech spending and project discontinuations.
The key positive takeaway remains improved margin guidance and steady AI-led deal momentum. However, near-term visibility remains limited unless discretionary spending revives across key verticals.
Mahindra EPC Irrigation Ltd – Q4 FY26 Earnings Highlights
Price: ₹128 M.Cap: ₹357 Cr PE: 25.2
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹107 Cr | ▲ 12% | ₹95.9 Cr | ▲ 14% | ₹93.5 Cr |
| EBITDA | ₹7.04 Cr | ▼ 27% | ₹9.59 Cr | ▼ 33% | ₹10.5 Cr |
| Net Profit | ₹4.79 Cr | ▼ 23% | ₹6.25 Cr | ▼ 26% | ₹6.49 Cr |
| EPS | ₹1.71 | ▼ 24% | ₹2.24 | ▼ 26% | ₹2.32 |
Verdict
Mahindra EPC Irrigation reported moderate revenue growth on both YoY and QoQ basis, indicating improving business activity. However, profitability declined sharply, with EBITDA, net profit, and EPS falling significantly due to margin pressure. The results highlight top-line recovery but weak operating efficiency, which remains a key monitorable for traders and investors in the coming quarters.
TRIL – Q4 FY26 Earnings Highlights
Price: ₹333 | M.Cap: ₹10,008 Cr | PE: 37.9
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹783 Cr | ▲ 16% | ₹676 Cr | ▲ 6% | ₹737 Cr |
| EBITDA | ₹118 Cr | ▼ 10% | ₹131 Cr | ▼ 6% | ₹125 Cr |
| Net Profit | ₹91.4 Cr | ▼ 3% | ₹94.2 Cr | ▲ 20% | ₹76.0 Cr |
| EPS | ₹2.97 | ▼ 5% | ₹3.14 | ▲ 21% | ₹2.46 |
Note: Mar-2025 exceptional item ₹3.24 Cr ignored for YoY comparison.
Verdict
TRIL delivered strong revenue growth both year-on-year and sequentially, indicating healthy business momentum. However, profitability remained under pressure on a YoY basis due to margin compression reflected in lower EBITDA. Sequential improvement in net profit and EPS suggests operational recovery in the latest quarter. Overall, results highlight strong top-line performance with mixed margin trends, making margin stabilization in upcoming quarters a key monitorable for investors.
360 ONE WAM – Q4 FY26 Earnings Highlights
Price: ₹1,108 | M.Cap: ₹45,088 Cr | PE: 37.1
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹1,115 Cr | ▲ 36% | ₹821 Cr | ▼ 6% | ₹1,181 Cr |
| EBITDA | ₹663 Cr | ▲ 44% | ₹461 Cr | ▼ 9% | ₹725 Cr |
| Net Profit | ₹289 Cr | ▲ 16% | ₹250 Cr | ▼ 12% | ₹327 Cr |
| EPS | ₹7.11 | ▲ 12% | ₹6.35 | ▼ 12% | ₹8.08 |
Verdict
360 ONE delivered strong year-on-year growth across revenue, EBITDA, profit, and EPS, reflecting continued expansion in the wealth and asset management business. However, quarter-on-quarter moderation across all key metrics indicates some near-term normalization after a strong previous quarter. The overall trend remains structurally positive with healthy profitability, though short-term momentum appears slightly softer.
