Q4 Earnings Snapshot 2026 – Winners, Surprises & Misses Revealed!

Verdict

GAIL reported a weak Q4 FY26 performance with pressure across profitability metrics despite relatively stable revenue. EBITDA witnessed a sharp decline on both YoY and QoQ basis, reflecting margin compression likely due to lower gas marketing spreads and operational challenges. Net profit and EPS also weakened significantly, indicating subdued earnings momentum during the quarter. However, the company’s strong gas infrastructure network and strategic role in India’s energy transition continue to remain key long-term positives.

Verdict

Welspun Corp reported healthy year-on-year growth in revenue and operating profit during Q4 FY26, reflecting stable business momentum. However, profitability declined sharply on both YoY and QoQ basis due to pressure on margins and weaker bottom-line performance. Sequentially, the company also witnessed moderation in sales and EBITDA, indicating softer execution compared to the previous quarter.

Verdict

Nupur Recyclers delivered strong year-on-year growth in Q4 FY26, with sales rising 54% and EBIDT jumping 84%, reflecting healthy operational expansion and improved business scale. Net profit and EPS also posted solid double-digit YoY growth.

However, on a quarter-on-quarter basis, profitability moderated as EBIDT, net profit, and EPS declined sequentially despite relatively stable revenue, indicating margin pressure during the quarter.

Overall, the company continues to maintain growth momentum on a yearly basis, while near-term profitability trends remain an important factor to watch.

Verdict

ICRA delivered strong revenue growth in Q4 FY26 with healthy improvement in operating profitability on both YoY and QoQ basis. EBITDA showed solid sequential recovery, while net profit and EPS declined slightly YoY due to higher base and possible margin or other income impact. However, strong QoQ growth in earnings indicates improving business momentum and stable demand across rating and analytical services.

Verdict

VA Tech Wabag delivered a strong Q4 FY26 performance with healthy growth across revenue and profitability. Sales growth remained robust on both YoY and QoQ basis, while net profit and EPS saw impressive expansion, reflecting better execution and operational efficiency. EBITDA growth was relatively moderate compared to revenue, indicating some margin pressure, but overall earnings momentum remains positive with strong sequential improvement.

Verdict

Max Healthcare delivered a healthy Q4 FY26 performance with strong growth in revenue and operating profitability. EBITDA growth outpaced sales growth, indicating margin improvement and operational efficiency. Net profit and EPS also remained positive on both YoY and QoQ basis, reflecting stable demand, improving occupancy, and continued strength in the healthcare business.

Verdict

Life Insurance Corporation reported strong growth in sales, net profit, and EPS during Q4 FY26, with profitability showing a sharp recovery on a sequential basis. Despite a significant decline in EBITDA compared to last year, the company maintained healthy earnings momentum supported by improved operational performance and stronger bottom-line growth. The low PE valuation continues to keep the stock attractive from a long-term perspective.

Verdict

Honasa Consumer delivered a strong Q4 FY26 performance with healthy double-digit revenue growth and a sharp recovery in profitability. EBITDA and net profit surged significantly on both YoY and QoQ basis, indicating improved operating leverage, better margins, and stronger execution across brands. The strong EPS growth further reflects robust earnings momentum going into FY27.

Verdict

RCF delivered a strong Mar FY26 performance with sharp growth across revenue and profitability. Sales growth of 50% YoY combined with EBITDA growth of 82% indicates improved operating leverage and better realization. Net profit more than doubled both YoY and QoQ, reflecting strong margin expansion and operational efficiency. EPS growth of 159% further highlights the robust earnings momentum for the quarter.

Verdict

Sun TV Network reported a weak Q4 FY26 performance with declines across revenue, operating profit, and earnings. While sales remained relatively stable on a sequential basis, profitability came under significant pressure both year-on-year and quarter-on-quarter due to weaker margins and the higher impact of exceptional items. Net profit and EPS witnessed sharp contraction, reflecting subdued operational momentum during the quarter.

Verdict

Dolat Algotech reported a strong Q4 FY26 performance with double-digit growth across revenue, EBITDA, net profit, and EPS on both YoY and QoQ basis. Profit growth outpaced revenue growth, indicating improved operational efficiency and margin strength. Despite higher exceptional losses during the quarter, the company maintained healthy earnings momentum, while the current valuation remains relatively moderate at a PE of 10.9.

Verdict

Epigral delivered strong revenue growth in Q4 FY26 with sales rising sharply both YoY and QoQ, reflecting healthy demand momentum. EBITDA and net profit remained slightly lower on a yearly basis, indicating margin pressure compared to the high base of last year. However, sequential recovery was strong with profitability more than doubling QoQ, suggesting operational improvement and better business momentum entering FY27.

Verdict

Century Enka delivered a sharp improvement in profitability during Q4 FY26. While revenue growth remained steady at 9% YoY, operating performance expanded significantly with EBITDA surging 532% YoY, indicating strong margin recovery and improved business efficiency. Net profit and EPS also witnessed robust growth both on a YoY and QoQ basis, reflecting strong earnings momentum heading into FY27.

Verdict

Bodal Chemicals delivered a strong Q4 FY26 performance with healthy growth across revenue and profitability. EBITDA more than tripled sequentially, while net profit and EPS saw a sharp recovery from the weak previous quarter, indicating margin expansion and operational improvement. The robust YoY growth in earnings reflects improving business momentum and better cost efficiency.

Verdict

ITC reported weak top-line performance in Q4 FY26 with sales declining both YoY and QoQ. Operationally, EBITDA remained resilient with marginal sequential improvement and healthy YoY growth, indicating stable core business profitability. However, net profit and EPS saw a sharp YoY decline due to the high base effect from the previous year, while sequential recovery in profitability suggests improving quarterly momentum.

Verdict

Nucleus Software reported a weak year-on-year performance in Q4 FY26 with sharp declines in EBITDA, net profit, and EPS, indicating margin pressure and lower profitability compared to last year. However, on a sequential basis, the company showed recovery with improvement across sales, operating profit, and earnings, suggesting gradual stabilization in business momentum.

Verdict

Ganesh Green delivered exceptionally strong HY FY26 performance with sharp growth across revenue and profitability. Sales more than tripled on a yearly basis, while EBITDA and net profit showed robust expansion, indicating strong execution and operating leverage. Sequential growth also remained healthy, reflecting sustained business momentum and improving earnings quality. At a PE of 11.6, the valuation appears relatively reasonable considering the strong growth trajectory.

Verdict

Page Industries delivered steady year-on-year growth in Q4 FY26 with double-digit sales expansion and healthy improvement in profitability. However, quarter-on-quarter performance moderated across revenue, EBITDA, net profit, and EPS, indicating softer demand or seasonal normalization after a strong December quarter. Despite near-term margin pressure, the company continues to maintain stable earnings growth backed by its strong innerwear brand positioning and premium market presence.

Verdict

Namo eWaste delivered a strong performance with robust growth across revenue and profitability. Sales growth remained healthy on both YoY and QoQ basis, while EBITDA and net profit significantly outpaced revenue growth, indicating margin expansion and better operational efficiency. The sharp jump in EPS reflects improving earnings quality and scalability in the business.

Verdict

Sandhar Technologies delivered a strong Q4 FY26 performance with healthy double-digit growth across revenue and operating profit. Net profit and EPS saw sharp improvement both YoY and QoQ, indicating margin expansion, improved operational efficiency, and strong demand momentum in the auto components business. The company continues to benefit from recovery in the automobile sector along with better execution across product segments.

Verdict

RPSG Ventures reported healthy growth in revenue and operating profitability during Q4 FY26, with both YoY and QoQ improvement in sales and EBITDA. However, the company remained loss-making at the bottom line level. Despite the sharp YoY deterioration in net profit and EPS, sequential losses narrowed significantly compared to the December quarter, indicating some recovery in profitability momentum.

Verdict

RateGain Travel Technologies delivered a strong Q4 FY26 performance with exceptional revenue growth and a sharp improvement in operating profitability. EBITDA growth significantly outpaced sales growth, indicating strong operating leverage and better margin efficiency. Net profit and EPS also posted healthy YoY and robust QoQ gains, reflecting improved business momentum and execution strength across the travel and hospitality technology segments.

Verdict

WeWork India delivered a strong Q4 FY26 performance with healthy growth across revenue and operating profit, while net profit and EPS saw sharp acceleration both year-on-year and sequentially. The strong QoQ jump in profitability indicates improving operating leverage, better occupancy dynamics, and continued demand momentum in the flexible workspace segment.

Verdict

DEE Development reported strong revenue growth in Q4 FY26 with sales rising sharply on both YoY and QoQ basis, indicating healthy execution momentum. EBITDA remained flat YoY despite higher revenue, suggesting margin pressure during the quarter, while profitability declined compared to last year. However, sequential recovery in EBITDA, net profit, and EPS reflects improving operational performance and better quarter-on-quarter business momentum.

Verdict

Walchand Industries delivered a sharp turnaround in Q4 FY26 with strong year-on-year growth across sales, EBITDA, net profit, and EPS, moving from losses to profitability. Revenue momentum remained healthy on a sequential basis as well. However, quarter-on-quarter profitability moderated due to lower operating performance compared to the strong December quarter, indicating margin pressure despite continued business growth.

Verdict

JSW Cement delivered a very strong Q4 FY26 performance with healthy double-digit sales growth and sharp expansion in profitability. EBITDA growth outpaced revenue growth, indicating margin improvement and better operational efficiency. Net profit and EPS witnessed exceptional growth both YoY and QoQ, reflecting a low base effect along with strong earnings momentum. The numbers suggest improving demand environment and stronger execution in the cement business.

Verdict

Xchanging Solutions reported stable revenue growth in Q4 FY26, while profitability improved strongly both on a YoY and QoQ basis. EBITDA and net profit growth outpaced sales growth, indicating better operational efficiency and margin expansion. The sharp sequential jump in earnings reflects improving business momentum, while the valuation remains relatively moderate at 12.6 PE.