Q2 Earnings Snapshot 2025 – Winners, Surprises & Misses Revealed!

Verdict

Sona BLW delivered a strong Q2 FY26 performance, surpassing street estimates across all key metrics. Despite a marginal year-on-year decline in margins, the company maintained robust profitability with healthy growth in revenue and EBITDA, reflecting operational resilience and demand recovery.

Verdict

IOC delivered a strong Q2 FY26 performance, beating street estimates across all key metrics. Despite lower revenue, profitability improved sharply with higher margins and robust EBITDA growth, signaling better operational efficiency and stronger refining margins.

Verdict

SRF delivered strong year-on-year growth in revenue, profitability, and margins driven by robust performance across key segments. However, results came in below analyst estimates, reflecting some near-term softness versus expectations despite a strong operational recovery.

Verdict

PNB Housing delivered a strong Q2 FY26 performance with double-digit growth across all key metrics. Both year-on-year and quarter-on-quarter improvements reflect sustained business momentum, margin expansion, and healthy profit traction — reinforcing its position as a resilient player in the housing finance space.

Verdict

Indus Towers reported moderate revenue growth YoY but faced margin pressure, leading to a decline in EBITDA and profitability. However, the sequential recovery in all key metrics indicates improving operational performance and cost control in Q2 FY26.

Verdict

KFin Technologies delivered steady year-on-year growth and strong sequential momentum in Q2 FY26. Revenue and profitability expanded both YoY and QoQ, reflecting healthy business traction, operating leverage, and continued demand for registrar and transfer agency services.

Verdict

Canara HSBC delivered a strong Q2 FY26 performance on the profitability front, with EBITDA and net profit showing triple-digit and robust double-digit growth, respectively. Despite a sharp decline in sales both YoY and QoQ, improved operational efficiency and margin expansion supported earnings.

Verdict

Bata India reported a weak Q2 FY26 performance, with both revenue and profitability under pressure. The company saw a steep decline in net profit and EPS due to subdued demand and rising costs. Margin compression and slower consumer spending weighed on earnings, signaling near-term challenges in recovery momentum.

Verdict

Raymond’s Q2 FY26 results showed strong year-on-year improvement in profitability, supported by a sharp rebound from a low base. However, sequentially, margins and earnings normalized after an exceptional previous quarter. The YoY surge in net profit reflects a turnaround, but the company’s performance is stabilizing on a quarterly basis.

*Derived from 6800% YoY growth.
**Exceptional Q1 EPS likely includes one-off income (e.g., demerger gain).

Verdict

Adani Energy Solutions posted a moderate topline growth with healthy sequential improvement in EBITDA. However, profitability remained lower year-on-year due to higher costs and base effects. The quarter reflected stable operational performance despite softer YoY earnings.

Verdict

JK Tyre delivered a robust Q2 FY26 performance, marked by strong double-digit growth in revenue, EBITDA, and profit. Sequentially, the company sustained momentum with notable margin expansion and healthy earnings improvement, reflecting solid operational efficiency and demand resilience across segments.

Verdict

Mahindra Logistics reported strong revenue and operating profit growth both year-on-year and sequentially, showcasing improved cost efficiency and stable operations. While the company remains in a loss, narrowing losses indicate progress toward breakeven and margin recovery.

Verdict

Jubilant Ingrevia delivered steady year-on-year growth in Q2 FY26, with strong improvement in revenue and profitability compared to last year. However, sequentially, margins and profit softened slightly due to lower EBITDA and net profit on a quarterly basis. Overall, the company continues to show consistent operational performance and healthy earnings trajectory.

Verdict

Sumitomo Chemical India reported a muted Q2 FY26 with declines across sales, EBITDA, and profitability both year-on-year and sequentially. The subdued performance reflects ongoing challenges in the agrochemical sector, with limited demand recovery. Margin pressures and weak top-line momentum remain key concerns in the near term.

Verdict

Supreme Industries posted modest revenue growth but faced pressure on profitability in Q2 FY26. EBITDA and net profit declined both year-on-year and sequentially, reflecting margin compression amid softer demand or higher input costs. Overall, earnings momentum remained subdued this quarter.