Hindustan Zinc – Q3 FY26 Earnings Highlights
| Metric | Actual | YoY Change | YoY Base | QoQ Change | QoQ Base | Estimates | Beat / Miss |
|---|---|---|---|---|---|---|---|
| Revenue | ₹10,922 Cr | ▲ 27.5% | ₹8,556 Cr | ▲ 28.1% | ₹8,525 Cr | ₹10,219 Cr | Beat |
| EBITDA | ₹6,005 Cr | ▲ 34.7% | ₹4,458 Cr | ▲ 35.7% | ₹4,426 Cr | ₹5,614 Cr | Beat |
| EBITDA Margin | 55% | ▲ 3% | 52% | ▲ 0.1% | 54.9% | 54.9% | Beat |
| Net Profit | ₹3,879 Cr | ▲ 46.5% | ₹2,647 Cr | ▲ 47.4% | ₹2,632 Cr | ₹3,493 Cr | Beat |
| EPS | ₹9.18 | ▲ 47% | ₹6.26 | ▲ 47% | ₹6.23 | — | Beat |
Verdict
Hindustan Zinc delivered a strong Q3 FY26 performance, beating street estimates across revenue, EBITDA, and net profit. Robust YoY and QoQ growth along with margin expansion to 55% highlights improved operational efficiency and favorable commodity realizations. Overall, the quarter reflects healthy profitability momentum and strong earnings visibility ahead.
LTIMindtree – Q3 FY26 Earnings Highlights
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base | Estimate | Beat / Miss | Revenue (Sales) | ₹10,781 Cr | ▲ 12% | ₹9,661 Cr | ▲ 4% | ₹10,394 Cr | ₹10,738 Cr | Beat |
|---|---|---|---|---|---|---|---|
| EBITDA | ₹2,003 Cr | ▲ 26% | ₹1,593 Cr | ▲ 4% | ₹1,930 Cr | – | – |
| EBIT Margin | 16.1% | – | – | – | – | 16.0% | Beat |
| Net Profit | ₹959.6 Cr | ▲ 29% | ₹1,087 Cr | ▼ 31% | ₹1,381 Cr | ₹1,417 Cr | Miss |
| EPS | ₹32.74 | ▼ 11% | ₹36.63 | ▼ 31% | ₹47.27 | – | – |
Verdict
LTIMindtree delivered healthy revenue growth and stable margins, with both revenue and EBIT beating street estimates. However, net profit missed expectations sharply, largely due to exceptional items impacting bottom-line performance. Operational momentum remains strong, but near-term profitability optics appear mixed.
Havells India – Q3 FY26 Earnings Highlights
Price: ₹1,447 | M.Cap: ₹90,847 Cr | P/E: 59.8
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹5,588 Cr | ▲ 14% | ₹4,889 Cr | ▲ 17% | ₹4,779 Cr |
| EBITDA | ₹516 Cr | ▲ 21% | ₹426 Cr | ▲ 18% | ₹438 Cr |
| Net Profit | ₹300 Cr | ▲ 20% | ₹278 Cr | ▼ 6% | ₹318 Cr |
| EPS | ₹4.80 | ▲ 8% | ₹4.44 | ▼ 6% | ₹5.09 |
Verdict
Havells delivered a strong top-line and operating performance in Q3 FY26 with healthy year-on-year and quarter-on-quarter growth in sales and EBITDA, reflecting solid demand momentum and margin expansion. However, profit and EPS declined sequentially, indicating near-term margin or cost pressures. Overall outlook remains positive with a stable growth trajectory, though elevated valuation levels with a high P/E ratio may limit short-term upside.
Tata Capital – Earnings Highlights (Dec 2025)
Price: ₹360 | Market Cap: ₹1,53,177 Cr | P/E: 34.6
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹7,975 Cr | ▲ 12% | ₹7,104 Cr | ▲ 3% | ₹7,737 Cr |
| EBITDA | ₹5,804 Cr | ▲ 9% | ₹5,342 Cr | ▲ 4% | ₹5,602 Cr |
| Net Profit | ₹1,265 Cr | ▲ 20% | ₹1,050 Cr | ▲ 13% | ₹1,119 Cr |
| EPS | ₹2.96 | ▲ 3% | ₹2.87 | ▲ 9% | ₹2.72 |
Verdict
Tata Capital delivered healthy performance in Dec 2025 with strong year-on-year growth in revenue and profitability. Sequential improvement across sales, EBITDA, and net profit reflects steady business momentum and improving operational efficiency. Rising quarterly EPS further supports earnings stability, keeping the overall outlook positive.
CEAT – Q3 FY26 Earnings Highlights
Price: ₹3,883 | M.Cap: ₹15,708 Cr | P/E: 25.2
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹4,157 Cr | ▲ 26% | ₹3,300 Cr | ▲ 10% | ₹3,773 Cr |
| EBITDA | ₹563 Cr | ▲ 65% | ₹341 Cr | ▲ 12% | ₹503 Cr |
| Net Profit | ₹155 Cr | ▲ 102% | ₹97 Cr | ▼ 17% | ₹186 Cr |
| EPS | ₹38.51 | ▲ 60% | ₹24.01 | ▼ 16% | ₹45.97 |
Verdict
CEAT delivered strong year-on-year growth across revenue, EBITDA, and profitability, supported by margin expansion and improved operational efficiency. However, quarter-on-quarter softness in net profit and EPS indicates near-term pressure, despite healthy top-line and EBITDA momentum. Overall, the long-term growth trend remains positive with improving operating performance.
Oberoi Realty – Q3 FY26 (Dec 2025) Earnings Highlights
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹1,493 Cr | ▲ 6% | ₹1,411 Cr | ▼ 16% | ₹1,779 Cr |
| EBITDA | ₹857 Cr | ▲ 0% | ₹856 Cr | ▼ 16% | ₹1,020 Cr |
| Net Profit | ₹623 Cr | ▲ 4% | ₹618 Cr | ▼ 18% | ₹760 Cr |
| EPS | ₹17.12 | ▲ 1% | ₹17.01 | ▼ 18% | ₹20.91 |
Note: Exceptional item of -₹23.1 Cr has been excluded from YoY calculation.
Verdict
Oberoi Realty delivered steady year-on-year growth in revenue and profit, reflecting stable operational performance. However, the quarter-on-quarter decline across sales, EBITDA, net profit, and EPS indicates short-term pressure, possibly due to project execution timing and lower quarterly realizations. Overall fundamentals remain stable, but near-term momentum appears moderate with focus needed on volume ramp-up and margin recovery.
Bansal Wire Industries – Dec 2025 Earnings Highlights
Price: ₹299 | Market Cap: ₹4,685 Cr | P/E: 30.2
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹1,029 Cr | ▲ 11% | ₹925 Cr | ▼ 3% | ₹1,055 Cr |
| EBITDA | ₹85.1 Cr | ▲ 18% | ₹72.0 Cr | ▲ 11% | ₹76.8 Cr |
| Net Profit | ₹43.3 Cr | ▲ 7% | ₹41.7 Cr | ▲ 13% | ₹38.3 Cr |
| EPS | ₹2.76 | ▲ 4% | ₹2.66 | ▲ 13% | ₹2.45 |
Note: Exceptional items ignored for YoY comparison.
Verdict
Bansal Wire Industries delivered steady year-on-year growth with strong improvement in EBITDA margins and healthy profit expansion. While sales saw a marginal sequential dip, robust quarter-on-quarter growth in profitability and EPS reflects better operational efficiency and effective cost control. Overall performance remains positive with stable earnings momentum.
IRFC – Q3 FY26 Earnings Highlights
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹6,661 Cr | ▼ 2% | ₹6,763 Cr | ▲ 4% | ₹6,372 Cr |
| EBITDA | ₹6,558 Cr | ▼ 2% | ₹6,724 Cr | ▲ 4% | ₹6,323 Cr |
| Net Profit | ₹1,802 Cr | ▲ 11% | ₹1,631 Cr | ▲ 1% | ₹1,777 Cr |
| EPS | ₹1.38 | ▲ 10% | ₹1.25 | ▲ 1% | ₹1.36 |
Verdict
IRFC delivered healthy profit growth despite a marginal decline in revenue and EBITDA on a YoY basis. Strong year-on-year improvement in net profit and EPS reflects better operational efficiency and stable margins. Sequential performance remains steady with moderate QoQ growth, indicating consistent earnings momentum.
BHEL – Q3 FY26 Earnings Highlights
Price: ₹263 | Market Cap: ₹91,561 Cr | P/E: 112.5
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹8,473 Cr | ▲ 16% | ₹7,277 Cr | ▲ 12% | ₹7,512 Cr |
| EBITDA | ₹545 Cr | ▲ 79% | ₹304 Cr | ▼ 6% | ₹581 Cr |
| Net Profit | ₹390 Cr | ▲ 190% | ₹135 Cr | ▲ 4% | ₹375 Cr |
| EPS | ₹1.12 | ▲ 187% | ₹0.39 | ▲ 4% | ₹1.08 |
Verdict
BHEL delivered strong year-on-year growth across revenue and profitability, driven by improved execution and operating leverage. While EBITDA saw a slight quarter-on-quarter dip, net profit and EPS continued to grow sequentially, indicating stable margins and sustained earnings momentum. Overall performance reflects improving fundamentals with a positive medium-term outlook.
