United Breweries – Q2 FY26 Earnings Highlights
United Breweries reported a weak set of Q2 FY26 results, missing CNBC-TV18 estimates across all key metrics, with sharp declines in profitability and margins on a year-on-year basis.
| Metric | Actual | YoY Change | YoY Base | CNBC-TV18 Estimate | Miss/Beat |
|---|---|---|---|---|---|
| Revenue | ₹2,051 Cr | ▼ 3% | ₹2,115 Cr | ₹2,156 Cr | Miss |
| EBITDA | ₹130.4 Cr | ▼ 42.4% | ₹227 Cr | ₹205 Cr | Miss |
| EBITDA Margin | 6.4% | ▼ (YoY 10.7%) | 10.7% | 9.5% | Miss |
| Net Profit | ₹46.95 Cr | ▼ 64% | ₹132.2 Cr | ₹110 Cr | Miss |
Verdict
United Breweries delivered a disappointing Q2 FY26 performance, with revenue, EBITDA, and net profit all falling short of estimates. The steep drop in margins highlights inflationary pressures and weaker operating leverage during the quarter.
SAIL – Q2 FY26 Earnings Highlights
Steel Authority of India Limited (SAIL) reported mixed Q2 FY26 results — beating CNBC-TV18 estimates across all major metrics, though profitability remained under pressure on a year-on-year basis.
| Metric | Actual | YoY Change | YoY Base | Estimate (CNBC-TV18) | Vs Estimate | Remark |
|---|---|---|---|---|---|---|
| Revenue | ₹26,704 Cr | ▲ 8.2% | ₹24,675 Cr | ₹24,822 Cr | ▲ Beat | Higher-than-expected sales |
| EBITDA | ₹2,528 Cr | ▼ 13.2% | ₹2,913 Cr | ₹1,995 Cr | ▲ Beat | Operational outperformance |
| Net Profit | ₹419 Cr | ▼ 53.3% | ₹897 Cr | ₹136 Cr | ▲ Beat | Far above street estimates |
| EBITDA Margin | 9.5% | ▼ (vs 11.8%) | 11.8% | 8% | ▲ Beat | Better-than-expected margin |
Verdict
SAIL delivered a revenue and EBITDA beat versus expectations, supported by stronger realizations and improved sales volumes. However, margins and profitability declined sharply year-on-year due to elevated costs and softer steel prices. Overall, while operational performance outpaced estimates, earnings moderation reflects continued industry margi
Hindustan Petroleum – Q2 FY26 Earnings Highlights
| Metric | Value | QoQ Change | QoQ Base | CNBC-TV18 Estimate | Miss/Beat |
|---|---|---|---|---|---|
| Revenue | ₹1.01 Lakh Cr | ▼ 9% | ₹1.11 Lakh Cr | ₹1.02 Lakh Cr | Miss (Slight) |
| EBITDA | ₹6,891 Cr | ▼ 9.4% | ₹7,601 Cr | ₹5,911 Cr | Beat |
| EBITDA Margin | 6.8% | ▼ from 6.9% | 6.9% | 5.8% | Beat |
| Net Profit | ₹3,380 Cr | ▼ 12.4% | ₹4,371 Cr | ₹3,040 Cr | Beat |
Verdict
Hindustan Petroleum Corporation Limited (HPCL) delivered an earnings beat on EBITDA and net profit versus street expectations, supported by better-than-estimated marketing margins. However, revenue and profitability saw a quarter-on-quarter dip due to weaker refining margins and lower throughput. The company remains fundamentally strong, though near-term margin pressures could keep earnings volatile.
Larsen & Toubro (L&T) – Q2 FY26 Earnings Highlights
L&T reported a moderate Q2 FY26 performance, slightly below CNBC-TV18 estimates on revenue and profit, though maintaining healthy double-digit year-on-year growth across key metrics.
| Metric | Actual | Estimate (CNBC-TV18) | Miss/Beat | YoY Change | YoY Base |
|---|---|---|---|---|---|
| Revenue | ₹67,983 Cr | ₹69,950 Cr | Miss | ▲ 10.4% | ₹61,554 Cr |
| EBITDA | ₹6,806.5 Cr | ₹6,980 Cr | Miss | ▲ 7% | ₹6,362 Cr |
| EBITDA Margin | 10% | 10% | In Line | ▼ from 10.4% | 10.4% |
| Net Profit | ₹3,926 Cr | ₹3,990 Cr | Miss | ▲ 15.6% | ₹3,395 Cr |
Verdict
L&T delivered steady Q2 FY26 results with solid year-on-year growth in revenue and profitability despite missing street estimates slightly. Margins remained stable near the 10% mark, reflecting operational discipline amid a high base.
Strategic Update
The company plans to enter the Electronics Manufacturing Services (EMS) sector, focusing on the Aerospace and Defence verticals. It has initiated preliminary discussions with the Tamil Nadu Government to acquire approximately 200 acres of land near Chennai for this new venture.
BHEL – Q2 FY26 Earnings Highlights
| Metric | Actual | Estimate (CNBC-TV18) | Miss/Beat | YoY Change | YoY Base |
|---|---|---|---|---|---|
| Revenue | ₹7,511 Cr | ₹7,939 Cr | ▼ Miss | ▲ 14.1% | ₹6,584 Cr |
| EBITDA | ₹580.8 Cr | ₹223 Cr | ▲ Beat | ▲ 111% | ₹275 Cr |
| EBITDA Margin | 7.7% | 2.8% | ▲ Beat | ▲ from 4.2% | 4.2% |
| Net Profit | ₹368 Cr | ₹221.2 Cr | ▲ Beat | ▲ 280% | ₹96.7 Cr |
Verdict
BHEL delivered a strong Q2 FY26 performance, beating CNBC-TV18 profit and EBITDA estimates, driven by margin expansion and solid operational efficiency, though revenue came in slightly below expectations. The company reported robust profitability with a 280% YoY rise in net profit and significant margin gains. Despite a minor revenue miss, the strong operational turnaround makes it a solid quarter for BHEL.
CG Power – Q2 FY26 Earnings Highlights
| Metric | Actual | Estimate (CNBC-TV18) | YoY Change | YoY Base | Miss/Beat |
|---|---|---|---|---|---|
| Revenue | ₹2,922.8 Cr | ₹3,283 Cr | ▲ 21% | ₹2,413 Cr | Miss |
| EBITDA | ₹377 Cr | ₹431 Cr | ▲ 28% | ₹295 Cr | Miss |
| Net Profit | ₹286.7 Cr | ₹313 Cr | ▲ 30.5% | ₹221 Cr | Miss |
| EBITDA Margin | 12.9% | 13% | ▲ 70 bps | 12.2% | In-line |
Verdict
CG Power reported a strong Q2 FY26 performance with healthy year-on-year growth in revenue, EBITDA, and profit, underpinned by operational efficiency and margin expansion. However, all key metrics came in slightly below CNBC-TV18 estimates, indicating a mild miss versus expectations despite overall solid execution and financial performance.
NMDC – Q2 FY26 Earnings Highlights
NMDC reported a strong Q2 FY26 performance with robust year-on-year growth across revenue, EBITDA, and profit, comfortably surpassing CNBC-TV18 estimates on the top and bottom line, though margins came in slightly below expectations.
| Metric | Actual | YoY Change | YoY Base | Estimate (CNBC-TV18) | Miss/Beat |
|---|---|---|---|---|---|
| Revenue | ₹6,378.1 Cr | ▲ 30% | ₹4,918 Cr | ₹5,825 Cr | Beat |
| EBITDA | ₹1,993 Cr | ▲ 44% | ₹1,385 Cr | ₹1,997 Cr | Miss |
| Net Profit | ₹1,683 Cr | ▲ 41% | ₹1,195 Cr | ₹1,621 Cr | Beat |
| EBITDA Margin | 31.2% | ▲ from 28.2% | 28.2% | 34% | Miss |
Verdict
NMDC delivered solid quarterly results with healthy growth in revenue and profitability, supported by strong iron ore realizations and volumes. While margins trailed expectations slightly, overall performance reflects operational strength and sustained demand momentum in the mining segment.
Coal India – Q2 FY26 Earnings Highlights
| Metric | Value | YoY Change | YoY Base | CNBC-TV18 Estimate | Miss/Beat |
|---|---|---|---|---|---|
| Revenue | ₹30,187 Cr | ▼ 3.2% | ₹31,182 Cr | ₹29,587 Cr | Beat |
| EBITDA | ₹6,716 Cr | ▼ 22% | ₹8,616 Cr | ₹7,827 Cr | Miss |
| Net Profit | ₹4,262 Cr | ▼ 32% | ₹6,275 Cr | ₹5,544 Cr | Miss |
| EBITDA Margin | 22.2% | ▼ 580 bps | 28.0% | 26.45% | Miss |
Verdict
Coal India reported a weak set of Q2 FY26 numbers, missing CNBC-TV18 estimates on profit and margins despite a revenue beat. The results reflected pressure on profitability, with sharp declines in EBITDA and margins amid softer realizations and higher costs. Despite a marginal revenue beat, the company missed expectations on key profitability metrics, indicating near-term headwinds in operational efficiency.
Brigade Enterprises – Q2 FY26 Earnings Highlights
Brigade Enterprises reported another strong quarter, sustaining growth momentum across revenue and profitability.
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹1,383 Cr | ▲ 29% | ₹1,072 Cr | ▲ 8% | ₹1,281 Cr |
| EBITDA | ₹328 Cr | ▲ 12% | ₹292 Cr | ▲ 2% | ₹323 Cr |
| Net Profit | ₹170 Cr | ▲ 37% | ₹115 Cr | ▲ 8% | ₹158 Cr |
| EPS | ₹6.65 | ▲ 37% | ₹4.87 | ▲ 8% | ₹6.13 |
Verdict
Brigade Enterprises delivered solid Q2 FY26 results, with strong year-on-year growth and steady sequential improvement. The sustained revenue momentum, along with margin stability and rising profitability, highlights continued strength in the real estate business cycle and robust demand visibility across its portfolio.
Apollo Pipes – Q2 FY26 Earnings Highlights
Apollo Pipes reported a weak set of numbers for Q2 FY26, with declines across revenue, EBITDA, and profit both year-on-year and sequentially.
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹236 Cr | ▼ 6% | ₹250 Cr | ▼ 14% | ₹275 Cr |
| EBITDA | ₹15.8 Cr | ▼ 19% | ₹19.4 Cr | ▼ 24% | ₹20.7 Cr |
| Net Profit | ₹1.39 Cr | ▼ 61% | ₹3.95 Cr | ▼ 83% | ₹8.16 Cr |
| EPS | ₹0.35 | ▼ 65% | ₹1.01 | ▼ 80% | ₹1.77 |
Verdict
Apollo Pipes delivered a subdued performance in Q2 FY26, with sharp declines in profitability on both yearly and sequential comparisons. The steep fall in net profit and margins reflects input cost pressures and lower realizations. Sustained recovery in demand and margin improvement will be key factors to watch in the coming quarters.
Satin Creditcare – Q2 FY26 Earnings Highlights
Satin Creditcare reported a solid performance in Q2 FY26 with healthy year-on-year and sequential growth across key metrics.
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹716 Cr | ▲ 19% | ₹600 Cr | ▲ 12% | ₹641 Cr |
| EBITDA | ₹385 Cr | ▲ 26% | ₹305 Cr | ▲ 18% | ₹326 Cr |
| Net Profit | ₹51.9 Cr | ▲ 25% | ₹41.6 Cr | ▲ 22% | ₹42.6 Cr |
| EPS | ₹4.70 | ▲ 25% | ₹3.76 | ▲ 22% | ₹3.86 |
Verdict
Satin Creditcare delivered a robust Q2 FY26 with consistent double-digit growth both year-on-year and quarter-on-quarter. The strong earnings momentum, expanding profitability, and improving operational efficiency highlight the company’s steady recovery and sustained growth trajectory.
PB Fintech – Q2 FY26 Earnings Highlights
Price: ₹1,723 | Market Cap: ₹79,521 Cr | PE: 172.3
PB Fintech delivered a strong Q2 FY26 performance with robust year-on-year and sequential growth across all key metrics, driven by continued traction in both Policybazaar and Paisabazaar platforms.
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹1,614 Cr | ▲ 38% | ₹1,167 Cr | ▲ 20% | ₹1,348 Cr |
| EBITDA | ₹97.8 Cr | ▲ 1,352% | ₹-7.81 Cr | ▲ 184% | ₹34.4 Cr |
| Net Profit | ₹135 Cr | ▲ 166% | ₹51.0 Cr | ▲ 59% | ₹84.7 Cr |
| EPS | ₹2.94 | ▲ 165% | ₹1.11 | ▲ 60% | ₹1.84 |
Verdict
PB Fintech posted an exceptional quarter with sharp improvement in profitability and margins. The strong double-digit growth in sales, combined with massive EBITDA expansion, underscores improving operating leverage. Sustained profitability momentum and consistent execution reflect the company’s steady transition from growth to profitable scale.
VST Industries – Q2 FY26 Earnings Highlights
Price: ₹259 | Market Cap: ₹4,391 Cr | PE: 19.8
VST Industries reported a mixed Q2 FY26 performance, with strong profitability growth offset by a decline in revenue.
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹336 Cr | ▼ 7% | ₹360 Cr | ▲ 13% | ₹298 Cr |
| EBITDA | ₹78.6 Cr | ▲ 16% | ₹67.6 Cr | ▲ 2% | ₹76.9 Cr |
| Net Profit | ₹59.2 Cr | ▲ 24% | ₹47.6 Cr | ▲ 6% | ₹56.1 Cr |
| EPS | ₹3.49 | ▲ 25% | ₹2.80 | ▲ 6% | ₹3.30 |
Verdict
Despite a decline in sales, VST Industries delivered a robust improvement in margins and earnings both YoY and sequentially. The steady uptick in EBITDA and net profit reflects strong cost efficiency and an improved product mix, supporting healthy EPS growth in Q2 FY26.
Transport Corporation of India – Q2 FY26 Earnings Highlights
Price: ₹1,228 | Market Cap: ₹9,626 Cr | PE: 22.2
Transport Corporation of India (TCI) reported a steady performance in Q2 FY26 with consistent growth across topline and profitability on both a YoY and QoQ basis.
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹1,205 Cr | ▲ 8% | ₹1,121 Cr | ▲ 6% | ₹1,139 Cr |
| EBITDA | ₹127 Cr | ▲ 8% | ₹117 Cr | ▲ 5% | ₹121 Cr |
| Net Profit | ₹114 Cr | ▲ 6% | ₹107 Cr | ▲ 7% | ₹107 Cr |
| EPS | ₹14.43 | ▲ 6% | ₹13.66 | ▲ 6% | ₹13.65 |
Verdict
TCI delivered another quarter of steady growth with improvements in revenue and profitability. The consistent rise in sales, EBITDA, and net profit reflects stable demand in the logistics sector and the company’s strong operational execution.
Heidelberg Cement – Q2 FY26 Earnings Highlights
Price: ₹200 | Market Cap: ₹4,532 Cr | PE: 35.2
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹598 Cr | ▲ 11% | ₹461 Cr | ▲ 17% | ₹512 Cr |
| EBITDA | ₹88.5 Cr | ▲ 54% | ₹57.5 Cr | ▲ 54% | ₹57.5 Cr |
| Net Profit | ₹48.2 Cr | ▲ 122% | ₹21.7 Cr | ▲ 94% | ₹24.9 Cr |
| EPS | ₹2.13 | ▲ 124% | ₹0.95 | ▲ 94% | ₹1.10 |
Verdict
Heidelberg Cement posted an impressive Q2 FY26, driven by strong realizations, improved operating efficiencies, and firm demand recovery. Both YoY and QoQ growth in EBITDA and profit indicate margin expansion and a healthy operational rebound.
Radico Khaitan – Q2 FY26 Earnings Highlights
Price: ₹3,164 | Market Cap: ₹42,350 Cr | PE: 91.2
Radico Khaitan delivered a strong performance in Q2 FY26, reporting robust growth on both YoY and QoQ basis across all key metrics, supported by premiumisation and cost efficiency.
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹1,494 Cr | ▲ 34% | ₹1,116 Cr | ▼ 1% | ₹1,506 Cr |
| EBITDA | ₹238 Cr | ▲ 46% | ₹163 Cr | ▲ 3% | ₹232 Cr |
| Net Profit | ₹139 Cr | ▲ 69% | ₹82.2 Cr | ▲ 5% | ₹133 Cr |
| EPS | ₹10.38 | ▲ 69% | ₹6.14 | ▲ 4% | ₹9.96 |
Verdict
Radico Khaitan posted another quarter of strong earnings momentum, with impressive year-on-year growth in profitability and steady sequential improvement. The results highlight the company’s continued focus on premium portfolio expansion and operating leverage, supporting a positive long-term outlook.
Mold-Tek Packaging – Q2 FY26 Earnings Highlights
Price: ₹733 | Market Cap: ₹2,449 Cr | PE: 36.5
Mold-Tek Packaging delivered a moderate performance in Q2 FY26, showing steady year-on-year growth across all key parameters, though sequentially softer due to seasonal impact.
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹210 Cr | ▲ 10% | ₹191 Cr | ▼ 13% | ₹241 Cr |
| EBITDA | ₹39.1 Cr | ▲ 17% | ₹33.6 Cr | ▼ 17% | ₹46.8 Cr |
| Net Profit | ₹15.5 Cr | ▲ 10% | ₹14.1 Cr | ▼ 31% | ₹22.4 Cr |
| EPS | ₹4.66 | ▲ 10% | ₹4.25 | ▼ 31% | ₹6.74 |
Verdict
Mold-Tek Packaging reported solid year-on-year growth in revenue and profitability, reflecting strong demand traction and operational efficiency. However, the quarter-on-quarter decline highlights temporary softness in volumes and margins, likely due to seasonal and input cost factors. The long-term growth outlook remains intact with ongoing capacity expansion and premiumization focus.
Apar Industries – Q2 FY26 Earnings Highlights
Price: ₹9,462 | Market Cap: ₹38,041 Cr | PE: 40.5
Apar Industries delivered a strong performance in Q2 FY26, showcasing solid year-on-year growth across all key financial metrics, supported by demand momentum in conductors and specialty oils, along with stable margins.
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹5,715 Cr | ▲ 23% | ₹4,645 Cr | ▲ 12% | ₹5,104 Cr |
| EBITDA | ₹461 Cr | ▲ 29% | ₹357 Cr | ▲ 2% | ₹452 Cr |
| Net Profit | ₹252 Cr | ▲ 30% | ₹194 Cr | ▼ 4% | ₹263 Cr |
| EPS | ₹62.66 | ▲ 30% | ₹48.27 | ▼ 4% | ₹65.45 |
Verdict
Apar Industries posted robust year-on-year growth driven by strong operational execution and continued traction in export markets. While EBITDA margins held steady, a slight sequential dip in profitability was seen due to normalizing costs. Overall, the company remains on a strong growth trajectory with healthy earnings visibility for FY26.
APL Apollo Tubes – Q2 FY26 Earnings Highlights
Price: ₹1,805 | Market Cap: ₹50,126 Cr | PE: 47.8
APL Apollo Tubes delivered an exceptional Q2 FY26 performance with sharp growth in profitability on both year-on-year and sequential bases, driven by strong operating leverage and margin expansion.
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹5,206 Cr | ▲ 9% | ₹4,774 Cr | ▲ 1% | ₹5,170 Cr |
| EBITDA | ₹447 Cr | ▲ 224% | ₹138 Cr | ▲ 20% | ₹372 Cr |
| Net Profit | ₹302 Cr | ▲ 460% | ₹53.8 Cr | ▲ 27% | ₹237 Cr |
| EPS | ₹10.86 | ▲ 460% | ₹1.94 | ▲ 27% | ₹8.55 |
Verdict
APL Apollo Tubes reported stellar earnings in Q2 FY26, with robust double-digit revenue growth and a multi-fold surge in EBITDA and net profit. The sharp improvement in margins reflects operating efficiency and strong demand momentum in structural steel products, sustaining its leadership in the segment.
Sanofi India – Q2 FY26 Earnings Highlights
Price: ₹4,729 | Market Cap: ₹10,895 Cr | PE: 29.5
Sanofi India delivered a mixed Q2 FY26 performance with healthy profitability growth but muted topline trends.
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹475 Cr | ▼ 9% | ₹524 Cr | ▲ 17% | ₹406 Cr |
| EBITDA | ₹134 Cr | ▲ 12% | ₹120 Cr | ▲ 41% | ₹94.9 Cr |
| Net Profit | ₹76.0 Cr | ▼ 8% | ₹82.2 Cr | ▲ 9% | ₹69.5 Cr |
| EPS | ₹33.04 | ▼ 8% | ₹35.74 | ▲ 9% | ₹30.22 |
Verdict
Sanofi India’s Q2 FY26 results show resilience in profitability despite a decline in year-on-year revenue. Sequential growth across all key metrics indicates a steady recovery in operations and margin improvement, though the YoY softness in sales and earnings highlights near-term demand challenges.
NLC India – Q2 FY26 Earnings Highlights
Price: ₹252 | Market Cap: ₹34,950 Cr | PE: 13.4
NLC India reported a mixed set of Q2 FY26 results — while revenue and operating profit showed strong growth, the bottom line declined due to higher expenses and lower other income.
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹4,178 Cr | ▲ 14% | ₹3,657 Cr | ▲ 9% | ₹3,826 Cr |
| EBITDA | ₹1,400 Cr | ▲ 38% | ₹1,013 Cr | ▲ 50% | ₹935 Cr |
| Net Profit | ₹725 Cr | ▼ 27% | ₹982 Cr | ▼ 14% | ₹839 Cr |
| EPS | ₹4.80 | ▼ 27% | ₹6.58 | ▼ 17% | ₹5.75 |
Verdict
NLC India posted solid operational growth in Q2 FY26 with strong EBITDA performance and improved sequential revenue. However, profit declined both YoY and QoQ, indicating margin pressure or higher costs. The company remains operationally steady, though earnings normalization was visible this quarter.
Varun Beverages – Q3 CY2025 Earnings Highlights
Price: ₹495 | Market Cap: ₹1,67,671 Cr | PE: 56.5
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹4,897 Cr | ▲ 2% | ₹4,805 Cr | ▼ 30% | ₹7,017 Cr |
| EBITDA | ₹1,146 Cr | ▼ 0% | ₹1,151 Cr | ▼ 43% | ₹1,998 Cr |
| Net Profit | ₹745 Cr | ▲ 20% | ₹629 Cr | ▼ 44% | ₹1,325 Cr |
| EPS | ₹2.19 | ▲ 15% | ₹1.91 | ▼ 44% | ₹3.89 |
Verdict
Varun Beverages delivered stable year-on-year growth in revenue and a strong improvement in profitability, reflecting sustained efficiency gains and margin resilience. However, quarter-on-quarter moderation was expected due to seasonality, as the June quarter typically benefits from peak beverage demand. The company remains on track for healthy full-year growth with consistent execution and expanding distribution reach.
CAMS Services – Q2 FY26 Earnings Highlights
Price: ₹3,856 | Market Cap: ₹19,106 Cr | PE: 43.4
CAMS Services reported a steady Q2 FY26 performance with moderate revenue growth year-on-year, while profitability remained under pressure due to higher expenses and softer margin trends.
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹354 Cr | ▲ 4% | ₹342 Cr | ▲ 6% | ₹334 Cr |
| EBITDA | ₹161 Cr | ▲ 0% | ₹160 Cr | ▲ 8% | ₹149 Cr |
| Net Profit | ₹111 Cr | ▼ 4% | ₹115 Cr | ▲ 6% | ₹105 Cr |
| EPS | ₹22.41 | ▼ 4% | ₹23.38 | ▲ 5% | ₹21.26 |
Verdict
CAMS delivered stable Q2 FY26 results with modest sequential improvement in revenue and earnings, though year-on-year comparisons remained muted. The company continues to show resilience with consistent cash generation, but margin pressures limited profit growth.
IdeaForge Technology – Q2 FY26 Earnings Highlights
Price: ₹499 | Market Cap: ₹2,157 Cr
IdeaForge reported a mixed Q2 FY26 performance, with modest year-on-year revenue growth but continued losses at the operating and net levels. While sequential performance showed some improvement in EBITDA losses, profitability remained under pressure.
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹40.8 Cr | ▲ 10% | ₹37.1 Cr | ▲ 219% | ₹12.8 Cr |
| EBITDA | ₹-11.3 Cr | ▲ 29% | ₹-15.8 Cr | ▲ 41% | ₹-19.1 Cr |
| Net Profit | ₹-19.6 Cr | ▼ 43% | ₹-13.7 Cr | ▲ 17% | ₹-23.6 Cr |
| EPS | ₹-4.54 | ▼ 42% | ₹-3.19 | ▲ 17% | ₹-5.45 |
Verdict
Despite strong sequential revenue recovery and reduced operating losses, IdeaForge continues to face profitability challenges. The YoY improvement in sales indicates steady demand recovery, but sustained cost control and margin improvement will be key to turning profitable in upcoming quarters.
Premier Energies – Q2 FY26 Earnings Highlights
Price: ₹1,099 | Market Cap: ₹49,866 Cr | P/E: 41.8
Premier Energies reported another strong quarter, with both year-on-year (YoY) and quarter-on-quarter (QoQ) growth across key financial metrics, reflecting robust operational momentum and consistent demand traction.
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹1,837 Cr | ▲ 20% | ₹1,527 Cr | ▲ 1% | ₹1,821 Cr |
| EBITDA | ₹561 Cr | ▲ 47% | ₹381 Cr | ▲ 2% | ₹548 Cr |
| Net Profit | ₹353 Cr | ▲ 72% | ₹206 Cr | ▲ 15% | ₹308 Cr |
| EPS | ₹7.80 | ▲ 71% | ₹4.57 | ▲ 14% | ₹6.83 |
Verdict
Premier Energies delivered another impressive performance in Q2 FY26 with healthy double-digit YoY growth across revenue, margins, and profitability. Sequential gains in net profit and EBITDA indicate strong execution and rising operational efficiency. The sustained earnings growth trajectory underscores the company’s leadership position in the renewable energy space.
