Tech Mahindra – Q4 FY26 Earnings Highlights
| Metric | Actual | Estimate | Miss / Beat | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Net Profit | ₹1,353.8 Cr | ₹1,504 Cr | ▼ Miss (10%) | ▲ 21% | ₹1,122 Cr |
| Revenue (₹) | ₹15,076 Cr | ₹14,804 Cr | ▲ Beat (2%) | ▲ 4.7% | ₹14,393 Cr |
| Revenue ($) | $1,625 Mn | $1,624 Mn | ▲ Beat (0.1%) | ▲ 0.93% | $1,610 Mn |
| EBIT | ₹2,084 Cr | ₹2,035 Cr | ▲ Beat (2.4%) | ▲ 10.2% | ₹1,891.6 Cr |
| EBIT Margin | 13.8% | 13.7% | ▲ Beat | ▲ QoQ | 13.1% |
| CC Revenue Growth | 0.6% | 0.5% | ▲ Beat | QoQ | — |
| Order Book (TCV) | $1,073 Mn | — | ▲ 34.5% YoY | YoY | — |
| Management Commentary | Company remains on track to meet FY27 commitments ✅ | ||||
Verdict
Tech Mahindra delivered an in-line operational performance with strong margin improvement and healthy QoQ profit growth. Revenue slightly beat estimates, but net profit missed expectations, indicating some cost pressures below EBIT level. Strong deal wins momentum and management confidence toward FY27 commitments support a stable medium-term outlook.
L&T Technology Services – Q4 Earnings Highlights
| Metric | Actual | Estimate | Miss / Beat | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Net Profit | ₹332.1 Cr | ₹359.5 Cr | ▼ Miss (7.6%) | ▲ 9.75% | ₹302.6 Cr |
| Revenue (₹) | ₹2,857.9 Cr | ₹3,011 Cr | ▼ Miss (5.1%) | ▲ 2.5% | ₹2,787.2 Cr |
| Revenue ($) | $306 Mn | $328 Mn | ▼ Miss (6.7%) | ▼ 1.7% | $311 Mn |
| EBIT | ₹434.9 Cr | ₹440 Cr | ▼ Miss (1.2%) | ▲ 5.5% | ₹412.4 Cr |
| EBIT Margin | 15.2% | 14.6% | ▲ Beat | ▲ vs 14.8% | 14.8% |
| Constant Currency Revenue | ▼ 1.1% | Flat | ▼ Miss | — | — |
Verdict
L&T Technology Services delivered a mixed Q4 performance. Profit, revenue, and dollar sales missed estimates, indicating weaker-than-expected growth momentum, especially in constant currency terms. However, margin expansion and sequential improvement in profitability reflect cost discipline and operational efficiency. Overall, the quarter signals stable execution but soft demand visibility in the near term.
Havells – Q4 Earnings Highlights
| Metric | Actual | YoY Change | YoY Base | Estimate | Miss / Beat |
|---|---|---|---|---|---|
| Net Profit | ₹734 Cr | ▲ 40.6% | ₹522 Cr | ₹495 Cr | Beat |
| Revenue | ₹6,687 Cr | ▲ 2.4% | ₹6,532 Cr | ₹6,971 Cr | Miss |
| EBITDA | ₹727 Cr | ▼ 4.5% | ₹761 Cr | ₹691 Cr | Beat |
| EBITDA Margin | 10.8% | ▼ YoY | 11.7% | 9.9% | Beat |
Verdict
Havells delivered a strong profit beat with margins also coming above expectations, indicating improved cost control and operating efficiency. However, revenue growth remained muted and EBITDA declined on a YoY basis, signaling demand softness in core segments. Overall, the result quality remains mixed but sentiment-positive due to margin expansion versus estimates.
SBI Life Insurance Company – Q4 Earnings Highlights 📊
| Metric | Actual | YoY Change | YoY Base | Estimates | Beat / Miss |
|---|---|---|---|---|---|
| New Business Premium | ₹11,220 Cr | ▲ 20.4% | ₹9,320 Cr | ₹10,680 Cr | ▲ Beat |
| Total APE | ₹5,750 Cr | ▲ 5.5% | ₹5,450 Cr | ₹5,896 Cr | ▼ Miss |
| VNB | ₹1,630 Cr | ▼ 1.8% | ₹1,660 Cr | ₹1,669 Cr | ▼ Miss |
| VNB Margin | 28.4% | ▼ vs 30.50% | 30.50% | 28.41% | ≈ In-line |
| Verdict: SBI Life delivered strong growth in New Business Premium, outperforming estimates and reflecting healthy demand momentum. However, VNB declined slightly YoY and missed expectations, while VNB margins compressed sharply, indicating profitability pressure from product mix changes. Overall, the quarter highlights solid premium growth but moderate margin softness, which traders may track closely for near-term stock direction 📉📊. | |||||
Trent – Q4 FY26 Earnings Highlights 📊
| Metric | Actual | YoY Change | YoY Base | Estimate | Miss / Beat |
|---|---|---|---|---|---|
| Revenue | ₹5,028 Cr | ▲ 19.2% | ₹4,216.9 Cr | ₹5,060 Cr | ▼ Miss |
| EBITDA | ₹927.8 Cr | ▲ 42.3% | ₹652 Cr | ₹848 Cr | ▲ Beat |
| EBITDA Margin | 18.5% | ▲ vs 15.5% | 15.5% | 16.8% | ▲ Beat |
| Net Profit | ₹413 Cr | ▲ 32.5% | ₹311.6 Cr | ₹375 Cr | ▲ Beat |
| Corporate Action |
• Bonus Issue approved in 1:2 ratio • Fund raise approved up to ₹2,500 Cr via Rights Issue |
||||
Verdict
Trent delivered a strong Q4 FY26 performance with robust EBITDA and net profit beat along with meaningful margin expansion, indicating improving operating leverage across core retail formats. Revenue came slightly below estimates but overall profitability strength, bonus issue approval, and ₹2,500 Cr rights issue plan signal expansion-led growth visibility and positive forward sentiment.
Tata Communications – Q4 FY26 Earnings Highlights
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹6,554 Cr | ▲ 9% | ₹5,990 Cr | ▲ 6% | ₹6,189 Cr |
| EBITDA | ₹1,284 Cr | ▲ 14% | ₹1,122 Cr | ▲ 5% | ₹1,228 Cr |
| Net Profit | ₹259 Cr | ▼ 14% | ₹1,041 Cr | ▼ 29% | ₹364 Cr |
| EPS | ₹9.24 | ▼ 75% | ₹36.50 | ▼ 28% | ₹12.82 |
| Exceptional Items | ₹20.3 Cr | ▼ 98% | ₹857 Cr | – | – |
Verdict
Tata Communications reported steady growth in revenue and EBITDA on both YoY and QoQ basis, reflecting stable operational momentum in its core digital infrastructure and enterprise connectivity business. However, the sharp decline in net profit and EPS was largely due to normalization after last year’s large exceptional gains. While core performance remains healthy, bottom-line softness may limit near-term stock upside unless profitability strengthens in upcoming quarters.
Amal Ltd – Mar 2026 Earnings Highlights
Price: ₹657 | M.Cap: ₹812 Cr | PE: 36.3
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹75.7 Cr | ▲ 94% | ₹39.0 Cr | ▲ 21% | ₹62.6 Cr |
| EBITDA | ₹7.35 Cr | ▼ 30% | ₹10.5 Cr | ▼ 9% | ₹8.09 Cr |
| Net Profit | ₹1.90 Cr | ▼ 72% | ₹6.78 Cr | ▼ 62% | ₹5.02 Cr |
| EPS | ₹1.54 | ▼ 72% | ₹5.48 | ▼ 62% | ₹4.06 |
Verdict
Amal reported strong revenue growth both YoY and QoQ, indicating robust demand momentum. However, the sharp decline in EBITDA and net profit suggests significant margin pressure—likely due to higher input costs or operating expenses. Despite top-line strength, earnings contraction remains a concern, and improvement in profitability will be key for sustaining investor confidence going forward.
Sangam India – Q4 FY26 Earnings Highlights
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹866 Cr | ▲ 19% | ₹725 Cr | ▲ 14% | ₹762 Cr |
| EBITDA | ₹99.3 Cr | ▲ 86% | ₹53.4 Cr | ▲ 23% | ₹80.6 Cr |
| Net Profit | ₹33.6 Cr | ▲ 234% | ₹9.37 Cr | ▲ 39% | ₹24.1 Cr |
| EPS | ₹7.45 | ▲ 258% | ₹2.08 | ▲ 39% | ₹5.35 |
| Exceptional Items (Mar 2026) | ₹-1.66 Cr | — | ₹-1.66 Cr | — | ₹-1.66 Cr |
Verdict
Sangam India delivered strong Q4 FY26 performance with sharp improvement across profitability metrics. EBITDA surged significantly, indicating margin expansion and operating leverage benefits, while net profit growth of 234% YoY reflects robust earnings momentum. Sequential growth across all key parameters further signals improving business traction and demand recovery, supporting a positive near-term outlook.
Deltacorp Q4 FY26 Earnings Highlights 📊
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Revenue | ₹161.25 Cr | ▼ 12% | ₹182.65 Cr | ▲ 1% | — |
| EBITDA | ₹27.72 Cr | ▼ 35% | ₹42.53 Cr | ▲ 15% | — |
| EBITDA Margin | 17.19% | ▼ vs 23.28% | 23.28% | ▲ vs 15.05% | 15.05% |
| PBT (Ex-Exceptional) | ₹25.79 Cr | ▼ 40% | ₹42.66 Cr | ▲ 26% | — |
| PAT (Continuing Operations) | ₹16.45 Cr | ▼ 91% | ₹180.07 Cr | ▲ 15% | — |
| Reported PAT | ₹16.45 Cr | ▼ 90% | ₹164.56 Cr | ▲ 15% | — |
| Other Income | ₹13.73 Cr | ▼ 2% | ₹14.07 Cr | ▲ 86% | ₹7.40 Cr |
| Exceptional Items | ₹-5.51 Cr | Loss vs Gain | ₹212.14 Cr Gain | — | — |
Verdict
The company reported muted operational performance on a year-on-year basis with declines in revenue, EBITDA, and profitability. However, quarter-on-quarter improvement across key operating metrics indicates short-term recovery momentum. The sharp fall in PAT YoY is largely attributable to the exceptionally high gain recorded in the base quarter, making the comparison optically weak rather than reflecting purely operational deterioration. Sequential margin improvement suggests gradual stabilization, though a strong growth trend is yet to emerge.
Oracle Financial Services Software – Q4 FY26 Earnings Highlights
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Revenue | ₹2,065 Cr | ▲ 20.3% | ₹1,717 Cr | ▲ 5.1% | ₹1,964 Cr |
| EBITDA | ₹1,056 Cr | ▲ 38.1% | ₹765 Cr | ▲ 28.9% | ₹820 Cr |
| EBITDA Margin | 51.1% | ▲ 659 bps | 44.5% | ▲ 946 bps | 41.6% |
| Net Profit (PAT) | ₹842 Cr | ▲ 30.7% | ₹644 Cr | ▲ 38.1% | ₹610 Cr |
| EPS | ₹96.4 | ▲ 30.6% | ₹73.8 | ▲ 38.1% | ₹69.8 |
Segment Performance
Product Licenses & Related Activities
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Revenue | ₹1,871 Cr | ▲ 21.4% | ₹1,541 Cr | ▲ 5.5% | ₹1,774 Cr |
| EBIT | ₹1,017 Cr | ▲ 38.9% | ₹732 Cr | ▲ 23.7% | ₹822 Cr |
| EBIT Margin | 54.4% | ▲ 684 bps | 47.6% | ▲ 800 bps | 46.4% |
IT Solutions & Consulting Services
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Revenue | ₹195 Cr | ▲ 10.8% | ₹176 Cr | ▲ 1.1% | ₹193 Cr |
| EBIT | ₹66 Cr | ▲ 16.9% | ₹57 Cr | ▲ 35.6% | ₹49 Cr |
| EBIT Margin | 34.1% | ▲ 178 bps | 32.3% | ▲ 865 bps | 25.5% |
Verdict
Oracle Financial Services Software delivered a strong Q4 FY26 performance with robust double-digit revenue growth and sharp margin expansion. The product license segment remained the key growth driver, lifting EBITDA margins above 50%, while consulting services showed sequential profitability improvement. Overall, the quarter reflects strong operating leverage, healthy deal momentum, and sustained earnings visibility heading into FY27.
