Astral – Q4 FY26 Earnings Highlights
| Metric | Q4 FY26 | YoY Change | YoY Base | QoQ Change | QoQ Base | Estimate | Beat/Miss |
|---|---|---|---|---|---|---|---|
| Sales | ₹2,089 Cr | ▲ 24.3% | ₹1,681 Cr | ▲ 35.4% | ₹1,542 Cr | ₹2,184 Cr | ❌ Miss |
| EBITDA | ₹383 Cr | ▲ 27% | ₹302 Cr | ▲ 61.6% | ₹237 Cr | ₹419 Cr | ❌ Miss |
| EBITDA Margin | 18.3% | ▲ 30 bps | 18.0% | ▲ 290 bps | 15.4% | 19.2% | ❌ Miss |
| Net Profit | ₹213 Cr | ▲ 19.7% | ₹178 Cr | ▲ 97.2% | ₹108 Cr | ₹258 Cr | ❌ Miss |
| EPS | ₹7.93 | ▲ 19% | ₹6.67 | ▲ 97.8% | ₹4.01 | — | — |
Verdict
Astral posted strong year-on-year and sequential growth across revenue, EBITDA, and profit driven by improved operational performance and margin expansion. However, the company missed street estimates on all key parameters including revenue, EBITDA, profit, and margins, indicating weaker-than-expected execution despite healthy growth momentum in Q4 FY26.
Strides Pharma – Q4 FY26 Earnings Highlights
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹1,323 Cr | ▲ 11% | ₹1,190 Cr | ▲ 11% | ₹1,195 Cr |
| EBIDT | ₹240 Cr | ▲ 10% | ₹218 Cr | ▲ 2% | ₹236 Cr |
| Net Profit | ₹129 Cr | ▲ 28% | ₹85.6 Cr | ▼ 38% | ₹208 Cr |
| EPS | ₹13.77 | ▲ 55% | ₹8.91 | ▼ 37% | ₹21.93 |
Verdict
Strides Pharma delivered steady Q4 FY26 performance with healthy double-digit growth in sales, EBITDA, and profit on a year-on-year basis. Revenue momentum remained strong sequentially as well, while profitability saw some moderation compared to the previous quarter due to a higher base. Overall, the company maintained solid operational performance with continued earnings growth.
Apollo Micro Systems – Q4 FY26 Earnings Highlights
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹293 Cr | ▲ 81% | ₹162 Cr | ▲ 16% | ₹252 Cr |
| EBITDA | ₹67.6 Cr | ▲ 88% | ₹36.0 Cr | ▲ 34% | ₹50.4 Cr |
| Net Profit | ₹36.8 Cr | ▲ 169% | ₹14.0 Cr | ▲ 61% | ₹22.9 Cr |
| EPS | ₹1.05 | ▲ 128% | ₹0.46 | ▲ 46% | ₹0.72 |
Verdict
Apollo Micro Systems delivered a strong Q4 FY26 performance with robust growth across revenue and profitability. Sales growth remained healthy while EBITDA and net profit sharply outpaced revenue growth, indicating strong operating leverage and margin expansion. Sequential improvement was also impressive, reflecting sustained execution momentum in the defence and electronics business pipeline.
Zydus Wellness – Q4 FY26 Earnings Highlights
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹1,485 Cr | ▲ 63% | ₹913 Cr | ▲ 54% | ₹965 Cr |
| EBIDT | ₹270 Cr | ▲ 42% | ₹190 Cr | ▲ 343% | ₹61.0 Cr |
| Net Profit | ₹162 Cr | ▼ 6% | ₹172 Cr | ▲ Turnaround | ₹-39.9 Cr |
| EPS | ₹5.09 | ▼ 6% | ₹5.40 | ▲ Turnaround | ₹-1.25 |
Verdict
Zydus Wellness delivered a strong operational quarter with robust growth in sales and EBITDA on both YoY and QoQ basis, indicating healthy demand and margin recovery. Despite strong operating performance, net profit and EPS declined marginally YoY, likely due to higher costs or exceptional items. Sequentially, profitability saw a sharp recovery from the previous quarter’s loss, reflecting significant improvement in business momentum.
VRL Logistics – Q4 FY26 Earnings Highlights
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹853 Cr | ▲ 5% | ₹809 Cr | ▲ 3% | ₹827 Cr |
| EBIDT | ₹177 Cr | ▼ 5% | ₹187 Cr | ▲ 4% | ₹170 Cr |
| Net Profit | ₹72.1 Cr | ▼ 3% | ₹74.3 Cr | ▲ 11% | ₹64.7 Cr |
| EPS | ₹4.12 | ▼ 3% | ₹4.25 | ▲ 11% | ₹3.70 |
Verdict
VRL Logistics posted steady revenue growth in Q4 FY26 with improvement on a sequential basis. However, profitability remained under pressure on a year-on-year basis as EBITDA and net profit declined despite higher sales. QoQ recovery in margins and earnings indicates improving operational momentum heading into the next quarter.
Electrosteel Castings – Q4 FY26 Earnings Highlights
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹1,493 Cr | ▼ 12% | ₹1,701 Cr | ▲ 1% | ₹1,472 Cr |
| EBITDA | ₹61.8 Cr | ▼ 61% | ₹160 Cr | ▲ 81% | ₹34.1 Cr |
| Net Profit | ₹16.0 Cr | ▼ 91% | ₹168 Cr | ▲ Improved | ₹-21.9 Cr |
| EPS | ₹0.26 | ▼ 90% | ₹2.72 | ▲ Improved | ₹-0.35 |
Verdict
Electrosteel Castings reported a weak Q4 FY26 on a year-on-year basis with sharp declines in profitability and margins despite relatively stable revenue. However, sequential recovery was visible as EBITDA and net profit improved significantly compared to the previous quarter, indicating operational stabilization after a weak Dec quarter.
Jain Resource – Q4 FY26 Earnings Highlights
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹3,105 Cr | ▲ 76% | ₹1,760 Cr | ▲ 12% | ₹2,775 Cr |
| EBIDT | ₹110 Cr | ▲ 18% | ₹93.4 Cr | ▼ 45% | ₹199 Cr |
| Net Profit | ₹66.0 Cr | ▲ 22% | ₹52.5 Cr | ▼ 48% | ₹126 Cr |
| EPS | ₹1.91 | ▲ 18% | ₹1.62 | ▼ 48% | ₹3.66 |
Verdict
Jain Resource reported exceptionally strong revenue growth in Q4 FY26 with sales jumping 76% YoY and improving sequentially as well. However, profitability remained under pressure on a QoQ basis, with sharp declines in EBITDA, net profit, and EPS compared to the previous quarter, indicating margin compression despite higher revenue momentum.
Nelcast – Q4 FY26 Earnings Highlights
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹368 Cr | ▲ 12% | ₹330 Cr | ▲ 12% | ₹330 Cr |
| EBIDT | ₹31.9 Cr | ▲ 7% | ₹29.7 Cr | ▼ 4% | ₹33.3 Cr |
| Net Profit | ₹15.3 Cr | ▲ 13% | ₹13.5 Cr | ▼ 4% | ₹15.9 Cr |
| EPS | ₹1.76 | ▲ 13% | ₹1.56 | ▼ 4% | ₹1.83 |
Verdict
Nelcast reported steady Q4 FY26 performance with healthy double-digit growth in sales, net profit, and EPS on a year-on-year basis. However, quarter-on-quarter profitability remained slightly soft due to lower EBITDA and net profit compared to the previous quarter, indicating margin pressure despite strong revenue growth.
Rama Phosphates – Q4 FY26 Earnings Highlights
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹219 Cr | ▲ 9% | ₹201 Cr | ▼ 8% | ₹238 Cr |
| EBITDA | ₹10.0 Cr | ▼ 42% | ₹17.4 Cr | ▼ 58% | ₹23.9 Cr |
| Net Profit | ₹5.37 Cr | ▲ 2% | ₹5.25 Cr | ▼ 62% | ₹14.0 Cr |
| EPS | ₹1.52 | ▲ 3% | ₹1.48 | ▼ 62% | ₹3.96 |
Verdict
Rama Phosphates reported moderate revenue growth in Q4 FY26, but profitability weakened sharply on both YoY and QoQ basis due to significant pressure on operating margins. Despite stable annual net profit growth, the steep sequential decline in EBITDA and earnings indicates softer operational performance during the quarter.
Tata Teleservices (Maharashtra) – Q4 FY26 Earnings Highlights
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹296 Cr | ▼ 4% | ₹308 Cr | ▲ 1% | ₹294 Cr |
| EBIDT | ₹163 Cr | ▲ 7% | ₹153 Cr | ▼ 7% | ₹175 Cr |
| Net Profit | ₹581 Cr | ▲ 73% | Loss ₹306 Cr | ▲ Massive Recovery | Loss ₹150 Cr |
| EPS | ₹2.97 | ▲ 289% | ₹-1.57 | ▲ Sharp Improvement | ₹-0.77 |
Verdict
Tata Teleservices (Maharashtra) reported a sharp turnaround in Q4 FY26 profitability with strong improvement in net profit and EPS, despite slightly lower revenue on a yearly basis. EBITDA remained healthy YoY, though margins softened sequentially. The strong bottom-line recovery indicates improved operational performance and possible exceptional gains/supporting income during the quarter.
GNFC – Q4 FY26 Earnings Highlights
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹2,208 Cr | ▲ 7% | ₹2,055 Cr | ▲ 11% | ₹1,996 Cr |
| EBIDT | ₹482 Cr | ▲ 101% | ₹240 Cr | ▲ 166% | ₹181 Cr |
| Net Profit | ₹396 Cr | ▲ 88% | ₹211 Cr | ▲ 164% | ₹150 Cr |
| EPS | ₹26.95 | ▲ 88% | ₹14.36 | ▲ 164% | ₹10.21 |
Verdict
GNFC reported a strong Q4 FY26 performance with healthy growth in revenue and sharp improvement in profitability. EBITDA more than doubled YoY while margins expanded significantly on both yearly and quarterly basis. Net profit and EPS also saw robust growth, reflecting strong operational recovery and improved business performance.
Indian Oil Corporation – Q4 FY26 Earnings Highlights
| Metric | Q4 FY26 | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Revenue | ₹2,36,899 Cr | ▲ 7.02% | ₹2,21,360 Cr | ▲ 0.27% | – |
| EBITDA Margin | 10.47% | ▲ 368 Bps | 6.79% | ▲ 84 Bps | 9.63% |
| Net Profit (PAT) | ₹15,176 Cr | ▲ 81.37% | ₹8,368 Cr | ▲ 12.40% | – |
Verdict
Indian Oil Corporation reported a strong Q4 FY26 performance with healthy growth in revenue and a sharp jump in profitability. EBITDA margins expanded significantly both year-on-year and sequentially, indicating improved refining and marketing performance. The robust PAT growth reflects stronger operational efficiency and favorable business conditions during the quarter.
Timken India – Q4 FY26 Earnings Highlights
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Revenue | ₹1,089.83 Cr | ▲ 14.54% | ₹951.46 Cr | ▲ 39.78% | – |
| EBITDA | ₹241.78 Cr | ▲ 12.90% | ₹214.15 Cr | ▲ 139.92% | – |
| EBITDA Margin | 22.19% | ▼ 32 bps | 22.51% | ▲ 926 bps | 12.93% |
| Net Profit (PAT) | ₹158.31 Cr | ▼ 16.82% | ₹190.31 Cr | ▲ 190.17% | – |
Verdict
Timken India reported strong revenue growth in Q4 FY26 with sharp sequential recovery in EBITDA and profitability. Margins improved significantly on a QoQ basis, reflecting operational strength and better demand momentum. However, despite healthy operating performance, net profit declined year-on-year, indicating pressure from higher costs or other below-EBITDA factors.
Sun Pharma Advanced Research Company – Q4 FY26 Earnings Highlights
| Metric | Q4 FY26 | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Revenue | ₹1,853.22 Cr | ▲ 6715.81% | ₹27.19 Cr | ▲ 21831.60% | ₹8.45 Cr |
| PAT | ₹1,761.34 Cr | ▲ Turnaround | Loss of ₹59.77 Cr | ▲ Turnaround | Loss of ₹80.42 Cr |
Verdict
SPARC reported an extraordinary turnaround in Q4 FY26 with massive revenue growth and a sharp swing from losses to strong profitability on both YoY and QoQ basis. The quarter reflects a significant one-time earnings boost and marks one of the strongest reported profit recoveries in recent quarters.
BLS E-Services Ltd – Q4 FY26 Earnings Highlights
| Metric | Q4 FY26 | YoY Change | YoY Base | QoQ Change |
|---|---|---|---|---|
| Revenue | ₹323.37 Cr | ▲ 35.19% | ₹239.21 Cr | ▲ 15.21% |
| EBITDA | ₹20.47 Cr | ▲ 5.40% | ₹19.42 Cr | ▲ 22.76% |
| EBITDA Margin | 6.33% | ▼ 179 bps | 8.12% | ▲ 39 bps |
| PAT | ₹18.24 Cr | ▲ 5.37% | ₹17.31 Cr | ▲ 19.81% |
Verdict
BLS E-Services delivered strong revenue growth in Q4 FY26 with healthy sequential improvement across EBITDA and PAT. However, operating margins remained under pressure on a year-on-year basis, indicating higher costs despite robust business expansion. Overall, the company maintained steady profitability momentum with improving quarterly performance.
Indraprastha Gas Limited – Q4 FY26 Earnings Highlights
| Metric | Q4 FY26 | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Revenue | ₹4,584.58 Cr | ▲ 5.69% | ₹4,337.57 Cr | ▲ 2.13% | Q3 FY26 |
| EBITDA | ₹421.06 Cr | ▼ 14.58% | ₹492.95 Cr | ▼ 10.58% | Q3 FY26 |
| EBITDA Margin | 9.18% | ▼ 218 bps | 11.36% | ▼ 131 bps | 10.49% |
| PAT (After Minority Interest) | ₹340.54 Cr | ▼ 25.18% | ₹455.14 Cr | ▼ 13.51% | Q3 FY26 |
Verdict
Indraprastha Gas posted steady revenue growth in Q4 FY26, supported by stable demand momentum. However, profitability remained under pressure with sharp declines in EBITDA and PAT on both YoY and QoQ basis. EBITDA margins also contracted significantly, indicating higher input costs and weaker operating efficiency during the quarter.
GE Vernova T&D India Ltd – Q4 FY26 Earnings Highlights
| Metric | Q4 FY26 | YoY Change | YoY Base | QoQ Change |
|---|---|---|---|---|
| Revenue | ₹1,637.08 Cr | ▲ 42.04% | ₹1,152.54 Cr | ▼ 3.74% |
| EBITDA | ₹444.94 Cr | ▲ 76.47% | ₹252.14 Cr | ▼ 2.13% |
| EBITDA Margin | 27.18% | ▲ 530 bps | 21.88% | ▲ 45 bps |
| PAT | ₹351.77 Cr | ▲ 88.63% | ₹186.49 Cr | ▲ 20.97% |
Verdict
GE Vernova T&D India delivered a strong Q4 FY26 performance with robust year-on-year growth across revenue, EBITDA, and PAT, supported by sharp margin expansion. Despite a slight sequential dip in revenue and EBITDA, profitability remained strong with PAT showing healthy quarter-on-quarter growth, indicating solid execution and operational efficiency.
DOMS Industries – Q4 FY26 Earnings Highlights
| Metric | Q4 FY26 | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Revenue | ₹603.98 Cr | ▲ 18.72% | ₹508.73 Cr | ▲ 1.99% | ₹592.20 Cr |
| EBITDA | ₹100.94 Cr | ▲ 14.36% | ₹88.26 Cr | ▼ 2.39% | ₹103.41 Cr |
| EBITDA Margin | 16.71% | ▼ 64 bps | 17.35% | ▼ 75 bps | 17.46% |
| PAT | ₹58.20 Cr | ▲ 13.49% | ₹51.28 Cr | ▼ 5.23% | ₹61.41 Cr |
Verdict
DOMS Industries delivered healthy double-digit revenue and profit growth on a year-on-year basis in Q4 FY26, reflecting steady demand momentum. However, quarter-on-quarter profitability remained under pressure with EBITDA, PAT, and margins showing moderation, indicating higher operating costs and margin normalization after previous strong quarters.
