Aarti Industries – Q3 FY26 Earnings Highlights (Dec 2025)
Price: ₹373 | Market Cap: ₹13,523 Cr | P/E: 36.5
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹2,318 Cr | ▲ 26% | ₹1,843 Cr | ▲ 10% | ₹2,100 Cr |
| EBITDA | ₹321 Cr | ▲ 39% | ₹231 Cr | ▲ 10% | ₹291 Cr |
| Net Profit | ₹133 Cr | ▲ 222% | ₹46 Cr | ▲ 26% | ₹106 Cr |
| EPS | ₹3.67 | ▲ 189% | ₹1.27 | ▲ 26% | ₹2.92 |
Note: Exceptional item of -₹15 Cr (Dec 2025) has been excluded while calculating YoY growth.
Verdict
Aarti Industries delivered a strong turnaround quarter with robust growth across all key financial metrics. Sharp improvement in net profit and EPS highlights margin recovery and better operating leverage. Sequential growth in sales and EBITDA signals improving demand momentum and operational stability. Overall performance reflects a positive earnings trajectory with strengthening fundamentals.
Olectra Greentech – Q3 FY26 (Dec 2025) Earnings Highlights
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹664 Cr | ▲ 29% | ₹515 Cr | ▲ 1% | ₹657 Cr |
| EBITDA | ₹93.2 Cr | ▲ 18% | ₹78.9 Cr | ▲ 5% | ₹88.7 Cr |
| Net Profit | ₹46.7 Cr | ▲ 0% | ₹46.6 Cr | ▼ 5% | ₹49.4 Cr |
| EPS | ₹5.65 | ▲ 0% | ₹5.64 | ▼ 6% | ₹6.04 |
Verdict
Olectra Greentech delivered strong year-on-year revenue growth supported by steady operational performance, with EBITDA improving on both YoY and QoQ basis. However, net profit and EPS remained flat on a yearly basis and declined sequentially, indicating margin pressure or higher cost impact. Overall, topline momentum remains positive, but earnings traction needs improvement to justify current valuation comfort.
PG Electroplast – Q3 FY26 Earnings Highlights
Price: ₹563 | Market Cap: ₹16,053 Cr | P/E: 58.0
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹1,412 Cr | ▲ 46% | ₹968 Cr | ▲ 115% | ₹655 Cr |
| EBITDA | ₹117 Cr | ▲ 37% | ₹85.2 Cr | ▲ 289% | ₹30.1 Cr |
| Net Profit | ₹62.0 Cr | ▲ 57% | ₹39.5 Cr | ▲ 2,146% | ₹2.76 Cr |
| EPS | ₹2.17 | ▲ 55% | ₹1.40 | ▲ 2,070% | ₹0.10 |
Verdict
PG Electroplast delivered strong YoY growth across revenue and profitability, supported by healthy operational performance. The sharp QoQ surge in EBITDA and net profit highlights margin expansion and improved cost efficiency. Overall, Q3 FY26 reflects robust business momentum with accelerating earnings growth. 🚀
Bharat Wire – Q3 FY26 Earnings Highlights
Price: ₹159 | Market Cap: ₹1,092 Cr | P/E: 14.2
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹143 Cr | ▼ 12% | ₹162 Cr | ▼ 13% | ₹165 Cr |
| EBITDA | ₹32.6 Cr | ▲ 12% | ₹29.0 Cr | ▼ 15% | ₹38.4 Cr |
| Net Profit | ₹18.2 Cr | ▲ 23% | ₹14.9 Cr | ▼ 18% | ₹22.1 Cr |
| EPS | ₹2.66 | ▲ 23% | ₹2.17 | ▼ 18% | ₹3.23 |
Verdict
Bharat Wire delivered strong year-on-year profitability growth despite a decline in topline. EBITDA, net profit, and EPS improved on a YoY basis, reflecting better operational efficiency and margin control. However, the quarter-on-quarter slowdown across revenue and profitability indicates near-term pressure on business momentum. Sustainability of margins and volume recovery will be key triggers to watch going forward.
Shriram Pistons & Rings – Q3 FY26 Earnings Highlights (Dec 2025)
Price: ₹2,675 | Market Cap: ₹11,785 Cr | P/E: 21.0
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹1,023 Cr | ▲ 21% | ₹848 Cr | ▲ 1% | ₹1,016 Cr |
| EBITDA | ₹206 Cr | ▲ 21% | ₹170 Cr | ▼ 0.5% | ₹207 Cr |
| Net Profit | ₹126 Cr | ▲ 18% | ₹121 Cr | ▼ 11% | ₹142 Cr |
| EPS | ₹27.92 | ▲ 3% | ₹27.20 | ▼ 12% | ₹31.76 |
Note: Exceptional loss of ₹25.2 Cr in Dec 2025 quarter has been excluded from YoY growth calculations.
Verdict
Shriram Pistons delivered strong year-on-year growth across revenue and operating profit, confirming robust core business performance. However, quarter-on-quarter profitability weakened due to exceptional losses and mild margin pressure. Overall, the company maintains healthy long-term fundamentals, but short-term earnings momentum remains moderate.
eMudhra – Q3 FY26 Earnings Highlights (Dec 2025)
CMP: ₹525 | Market Cap: ₹4,343 Cr | P/E: 42.3
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹188 Cr | ▲ 35% | ₹139 Cr | ▲ 9% | ₹173 Cr |
| EBITDA | ₹41.1 Cr | ▲ 37% | ₹29.9 Cr | Flat | ₹41.2 Cr |
| Net Profit | ₹29.0 Cr | ▲ 37% | ₹22.4 Cr | ▲ 10% | ₹26.4 Cr |
| EPS | ₹3.46 | ▲ 37% | ₹2.53 | ▲ 13% | ₹3.05 |
Verdict
eMudhra delivered strong double-digit YoY growth across revenue, profitability, and EPS, driven by robust demand for digital trust and cybersecurity solutions. The company maintained stable operational performance on a quarter-on-quarter basis, with flat EBITDA and improving net profit margins. Overall, eMudhra continues to demonstrate healthy earnings momentum and consistent business execution going forward.
Interarch Build – Q3 FY26 Earnings Highlights
Price: ₹2,095 | Market Cap: ₹3,515 Cr | P/E: 25.3
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹523 Cr | ▲ 44% | ₹364 Cr | ▲ 7% | ₹491 Cr |
| EBITDA | ₹50.3 Cr | ▲ 43% | ₹35.1 Cr | ▲ 21% | ₹41.6 Cr |
| Net Profit | ₹37.3 Cr | ▲ 41% | ₹28.2 Cr | ▲ 16% | ₹32.3 Cr |
| EPS | ₹22.22 | ▲ 31% | ₹16.95 | ▲ 15% | ₹19.25 |
Exceptional Items (Dec 2025): -₹3.24 Cr
Note: Exceptional items ignored for YoY calculations.
Verdict
Interarch Build delivered strong double-digit growth across all key metrics, driven by robust revenue momentum and improving operating leverage. Healthy quarter-on-quarter expansion in EBITDA and net profit highlights margin improvement and better operational efficiency. With consistent earnings growth and stable valuation multiples, the company remains fundamentally strong with positive near-term business momentum.
Transrail Lighting – Q3 FY26 Earnings Highlights
Price: ₹497 | M.Cap: ₹6,662 Cr | P/E: 15.0
| Metric | Q3 FY26 | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹1,796 Cr | ▲ 32% | ₹1,358 Cr | ▲ 15% | ₹1,561 Cr |
| EBITDA | ₹227 Cr | ▲ 27% | ₹179 Cr | ▲ 23% | ₹184 Cr |
| Net Profit | ₹110 Cr | ▲ 31% | ₹93.2 Cr | ▲ 21% | ₹91.0 Cr |
| EPS | ₹8.17 | ▲ 18% | ₹6.94 | ▲ 21% | ₹6.78 |
| Exceptional Items (Dec 2025) | -₹17.4 Cr | Exceptional items ignored for YoY comparison as provided | |||
Verdict
Transrail Lighting delivered a strong Q3 FY26 performance with robust double-digit growth across sales, EBITDA, and net profit on both YoY and QoQ basis. Margin improvement and healthy profit growth indicate better operational efficiency. Despite the impact of exceptional items, the core business momentum remains positive, supporting a constructive medium-term outlook.
Corona Remedies – Q3 FY26 Earnings Highlights (Dec 2025)
Price: ₹1,460 | Market Cap: ₹8,933 Cr | P/E: 56.1
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹342 Cr | ▲ 15% | ₹298 Cr | ▼ 5% | ₹361 Cr |
| EBITDA | ₹83.2 Cr | ▲ 20% | ₹69.4 Cr | ▲ 6% | ₹78.5 Cr |
| Net Profit | ₹41.2 Cr | ▲ 22% | ₹44.8 Cr | ▼ 21% | ₹52.2 Cr |
| EPS | ₹6.74 | ▼ 8% | ₹7.32 | ▼ 21% | ₹8.53 |
Verdict
Corona Remedies reported healthy year-on-year growth in sales, EBITDA, and net profit, highlighting strong operational performance on an annual basis. However, the quarter-on-quarter decline in revenue, profit, and EPS signals near-term pressure on margins or demand. Overall, the company maintains solid long-term growth momentum, but short-term performance remains mixed and warrants close monitoring.
Honeywell Automation India Ltd – Q3 FY26 Earnings Highlights
CMP: ₹33,610 | Market Cap: ₹29,694 Cr | P/E: 57.9
| Metric | Q3 FY26 | YoY Change | YoY Base (Q3 FY25) | QoQ Change | QoQ Base (Q2 FY26) |
|---|---|---|---|---|---|
| Sales | ₹1,169 Cr | ▲ 7% | ₹1,091 Cr | ▲ 2% | ₹1,149 Cr |
| EBITDA | ₹148 Cr | ▲ 4% | ₹142 Cr | ▲ 12% | ₹132 Cr |
| Net Profit | ₹121 Cr | ▼ 3% | ₹132 Cr | ▲ 1% | ₹120 Cr |
| EPS | ₹137.08 | ▼ 8% | ₹149.41 | ▲ 1% | ₹135.16 |
Note
Exceptional Item of -₹11.4 Cr (Dec 2025) adjusted. YoY growth is calculated excluding exceptional items.
Verdict
Honeywell Automation delivered steady revenue growth with moderate EBITDA improvement, supported by operational recovery on a quarter-on-quarter basis. However, year-on-year pressure on net profit and EPS indicates margin normalization and higher cost impact. Overall performance reflects stable demand momentum with a cautious profitability outlook.
RailTel Corporation of India Ltd – Q3 FY26 Earnings Highlights
Stock Price: ₹337 | Market Cap: ₹10,806 Cr | P/E: 33.2
| Metric | Q3 FY26 | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales (Revenue) | ₹913 Cr | ▲ 19% | ₹768 Cr | ▼ 4% | ₹951 Cr |
| EBITDA | ₹133 Cr | ▲ 10% | ₹121 Cr | ▼ 14% | ₹154 Cr |
| Net Profit | ₹62.4 Cr | ▲ 3% | ₹65.0 Cr | ▼ 18% | ₹76.1 Cr |
| EPS | ₹1.94 | ▼ 4% | ₹2.03 | ▼ 18% | ₹2.37 |
Performance Insight: YoY profit growth remained marginal despite strong revenue growth due to margin pressure.
Verdict
Revenue Momentum: RailTel delivered strong YoY revenue growth, indicating healthy order execution and demand traction.
Margin Pressure: Sequential decline in EBITDA, Net Profit, and EPS highlights cost pressure and margin compression during Q3.
Positive: PSU order inflows, digital infrastructure theme intact, steady revenue traction.
Concern: Falling QoQ profitability, EPS decline, moderation in operating margins.
Overall View: Structurally strong business with mixed near-term performance. Stock may require earnings stability for fresh upside momentum.
Indiabulls – Dec 2025 Quarter Earnings Highlights
Price: ₹10.8 | Market Cap: ₹2,496 Cr | P/E: 87.0
| Metric | Value | YoY Change | YoY Base (Dec 2024) | QoQ Change | QoQ Base (Sep 2025) |
|---|---|---|---|---|---|
| Sales | ₹97.0 Cr | ▼ 9% | ₹106 Cr | ▼ 59% | ₹236 Cr |
| EBITDA | -₹14.2 Cr | ▼ 159% | ₹24.3 Cr | ▼ 113% | ₹107 Cr |
| Net Profit | ₹78.4 Cr | ▲ 2251% | -₹3.15 Cr | ▲ 4% | ₹75.3 Cr |
| EPS | ₹0.34 | ▲ 192% | -₹0.37 | ▲ 386% | ₹0.07 |
Verdict
Indiabulls reported a sharp turnaround in profitability with strong YoY and QoQ growth in net profit and EPS, despite a significant decline in revenue and negative EBITDA. While bottom-line recovery is encouraging, operational weakness and margin pressure remain a concern, indicating that the current performance is driven more by non-operational factors than core business strength.
PB Fintech – Q3 FY26 Earnings Highlights (Dec 2025)
Price: ₹1,563 | Market Cap: ₹72,379 Cr | P/E: 124.9
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹1,771 Cr | ▲ 37% | ₹1,292 Cr | ▲ 10% | ₹1,614 Cr |
| EBITDA | ₹159 Cr | ▲ 476% | ₹27.6 Cr | ▲ 63% | ₹97.8 Cr |
| Net Profit | ₹189 Cr | ▲ 165% | ₹71.5 Cr | ▲ 40% | ₹135 Cr |
| EPS | ₹4.09 | ▲ 162% | ₹1.56 | ▲ 39% | ₹2.94 |
Verdict
PB Fintech delivered exceptionally strong earnings growth in Q3 FY26 with sharp improvement in profitability and operating leverage. The massive year-on-year EBITDA jump highlights margin expansion, while healthy quarter-on-quarter growth across revenue, profit, and EPS signals sustained business momentum. Despite rich valuations, operational performance remains robust with improving scalability and profitability trends.
Patel Retail – Earnings Highlights (Dec 2025)
CMP: ₹196 | Market Cap: ₹650 Cr | P/E: 17.9
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹309 Cr | ▲ 35% | ₹228 Cr | ▲ 39% | ₹222 Cr |
| EBITDA | ₹23.1 Cr | ▲ 65% | ₹14.0 Cr | ▲ 39% | ₹16.6 Cr |
| Net Profit | ₹12.0 Cr | ▲ 96% | ₹6.13 Cr | ▲ 19% | ₹10.1 Cr |
| EPS | ₹3.59 | ▲ 46% | ₹2.46 | ▲ 18% | ₹3.04 |
Verdict
Patel Retail delivered a strong quarterly performance with robust YoY growth across revenue and profitability. Healthy QoQ expansion in sales and EBITDA highlights improving operational momentum, while sharp YoY growth in net profit reflects better margins and cost efficiency. Overall, the company continues to show positive growth traction with stable valuation comfort.
Campus Activewear – Q3 FY26 Earnings Highlights (Dec 2025)
CMP: ₹272 | Market Cap: ₹8,333 Cr | P/E: 59.1
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹589 Cr | ▲ 14% | ₹515 Cr | ▲ 52% | ₹387 Cr |
| EBITDA | ₹110 Cr | ▲ 34% | ₹82.2 Cr | ▲ 120% | ₹49.9 Cr |
| Net Profit | ₹63.7 Cr | ▲ 37% | ₹46.5 Cr | ▲ 217% | ₹20.1 Cr |
| EPS | ₹2.08 | ▲ 37% | ₹1.52 | ▲ 215% | ₹0.66 |
Verdict
Campus Activewear delivered a strong operational rebound in Q3 FY26, supported by sharp quarter-on-quarter acceleration in sales, EBITDA, and profitability. The robust QoQ margin expansion highlights improved operating leverage and demand recovery. While year-on-year growth remains healthy, the premium valuation (high P/E) suggests that the market is already factoring in sustained growth momentum. Overall outlook remains positive with improving profitability trends.
UPL Limited – Q3 FY26 Earnings Highlights (Dec 2025)
Price: ₹699 | Market Cap: ₹58,927 Cr | P/E: 31.0
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹12,269 Cr | ▲ 12% | ₹10,907 Cr | ▲ 2% | ₹12,019 Cr |
| EBITDA | ₹2,236 Cr | ▲ 33% | ₹1,678 Cr | ▲ 15% | ₹1,947 Cr |
| Net Profit | ₹490 Cr | ▼ 52% | ₹853 Cr | ▼ 20% | ₹612 Cr |
| EPS | ₹4.70 | ▼ 52% | ₹9.81 | ▼ 28% | ₹6.56 |
Note: Exceptional items (Dec 2025: -₹56 Cr | Dec 2024: -₹76 Cr) have been excluded from YoY calculations.
Verdict
UPL delivered strong top-line and EBITDA growth in Q3 FY26, supported by healthy operational performance and margin improvement. However, net profit and EPS declined sharply on both YoY and QoQ basis, indicating pressure from higher costs, interest burden, or other below-EBITDA factors. Overall, the quarter reflects operational strength but weak bottom-line conversion, which investors should track closely going ahead.
Latent View Analytics – Q3 FY26 Earnings Highlights (Dec 2025)
CMP: ₹457 | Market Cap: ₹9,459 Cr | P/E: 47.6
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹278 Cr | ▲ 22% | ₹228 Cr | ▲ 8% | ₹258 Cr |
| EBITDA | ₹62.2 Cr | ▲ 23% | ₹50.3 Cr | ▲ 11% | ₹56.1 Cr |
| Net Profit | ₹50.8 Cr | ▲ 20% | ₹42.6 Cr | ▲ 11% | ₹45.7 Cr |
| EPS | ₹2.42 | ▲ 19% | ₹2.03 | ▲ 13% | ₹2.15 |
Verdict
Latent View Analytics delivered strong double-digit growth across revenue and profitability on both YoY and QoQ basis. Sequential improvement in EBITDA and net profit reflects better operational efficiency and stable margins. However, with a premium valuation (P/E ~48), the stock will require sustained high growth momentum to justify current levels. Overall, the performance remains fundamentally positive with consistent execution.







