Bajaj Auto – Q4 FY26 Earnings Highlights
| Metric | Q4 FY26 | YoY Change | YoY Base | Estimate | Beat/Miss |
|---|---|---|---|---|---|
| Net Profit | ₹2,746 Cr | ▲ 34% | ₹2,049 Cr | ₹2,629 Cr | Beat |
| Revenue | ₹16,006 Cr | ▲ 31.8% | ₹12,148 Cr | ₹15,665 Cr | Beat |
| EBITDA | ₹3,323 Cr | ▲ 35.6% | ₹2,451 Cr | ₹3,212 Cr | Beat |
| EBITDA Margin | 20.8% | ▲ 60 bps | 20.2% | 20.5% | Beat |
| Dividend | ₹150/share | — | — | — | Declared |
Verdict
Bajaj Auto delivered a strong Q4 FY26 performance with healthy double-digit growth across revenue, EBITDA, and net profit. Margins expanded due to improved operating leverage and a better product mix. The company also outperformed street estimates across all key parameters, reflecting robust domestic demand, export recovery, and sustained traction in premium motorcycles. Additionally, the recommendation of a ₹150 per share final dividend further strengthened shareholder sentiment.
Shree Cement – Q4 FY26 Earnings Highlights
| Metric | Q4 FY26 | YoY Change | YoY Base | Estimate | Beat/Miss |
|---|---|---|---|---|---|
| Net Profit | ₹532 Cr | ▼ 4.3% | ₹556 Cr | ₹540 Cr | Miss |
| Revenue | ₹5,643 Cr | ▲ 7.7% | ₹5,240 Cr | ₹5,516 Cr | Beat |
| EBITDA | ₹1,250.7 Cr | ▼ 9.4% | ₹1,381.7 Cr | ₹1,240 Cr | Beat |
| EBITDA Margin | 22.2% | ▼ 420 bps | 26.4% | 22.5% | Slight Miss |
Verdict
Shree Cement reported a mixed Q4 FY26 performance with revenue growth driven by higher realizations and volume momentum, while profitability remained under pressure due to elevated operating costs and margin compression. Revenue and EBITDA came in slightly ahead of street expectations, but net profit and margins missed estimates. The sharp decline in EBITDA margin indicates continued cost pressure despite top-line expansion.
Blue Star Limited – Q4 FY26 Earnings Highlights
| Metric | Q4 FY26 | YoY Change | YoY Base | QoQ Trend | Estimate | Beat / Miss |
|---|---|---|---|---|---|---|
| Revenue | ₹4,072 Cr | ▲ 1.3% | ₹4,019 Cr | ▼ QoQ | ₹4,276 Cr | Miss |
| EBITDA | ₹325.2 Cr | ▲ 16.6% | ₹279 Cr | ▲ QoQ | ₹282 Cr | Beat |
| EBITDA Margin | 8% | ▲ 110 bps | 6.9% | ▲ QoQ | 6.6% | Beat |
| Net Profit | ₹227 Cr | ▲ 17% | ₹194 Cr | ▲ QoQ | ₹173 Cr | Beat |
Verdict
Blue Star delivered a strong profitability-led Q4 FY26 performance with EBITDA, margins, and net profit comfortably beating street estimates despite revenue growth remaining muted and slightly below expectations. Margin expansion and operational efficiency supported earnings growth, indicating improving business quality and healthy execution in a competitive demand environment.
Polycab India – Q4 FY26 Earnings Highlights
| Metric | Actual | YoY Change | YoY Base | Estimate | Beat/Miss |
|---|---|---|---|---|---|
| Net Profit | ₹772.7 Cr | ▲ 6.3% | ₹727 Cr | ₹691 Cr | Beat |
| Revenue | ₹8,864.4 Cr | ▲ 26.9% | ₹6,986 Cr | ₹8,233 Cr | Beat |
| EBITDA | ₹1,161 Cr | ▲ 13.3% | ₹1,025 Cr | ₹1,065 Cr | Beat |
| EBITDA Margin | 13.1% | ▼ 160 bps | 14.7% | 12.9% | Above Est. |
| Dividend | Final dividend recommended: ₹47/share | ||||
Verdict
Polycab India delivered a strong Q4 FY26 performance with revenue, EBITDA, and net profit beating street estimates. Robust topline growth reflects healthy demand momentum across cables, wires, and FMEG segments. Despite margin pressure on a YoY basis due to higher input costs and business mix changes, margins still came above expectations, indicating solid execution and operational resilience.
CG Power and Industrial Solutions – Q4 FY26 Earnings Highlights
| Metric | Actual | YoY Change | YoY Base | Estimate | Beat/Miss |
|---|---|---|---|---|---|
| Revenue | ₹3,441.8 Cr | ▲ 25% | ₹2,752 Cr | ₹3,436 Cr | Beat |
| EBITDA | ₹466.6 Cr | ▲ 34.5% | ₹345.8 Cr | ₹450.3 Cr | Beat |
| EBITDA Margin | 13.5% | ▲ 90 bps | 12.6% | 13.1% | Beat |
| Net Profit | ₹365.5 Cr | ▲ 33.4% | ₹274 Cr | ₹333.8 Cr | Beat |
Verdict
CG Power delivered a strong Q4 FY26 performance with double-digit growth across revenue, EBITDA, and net profit while also beating street estimates on all key parameters. Margin improvement and robust profitability indicate continued strength in demand execution and operational efficiency, keeping the overall outlook positive.
Muthoot Microfin – Q4 FY26 Earnings Highlights
Price: ₹214 Market Cap: ₹3,661 Cr PE Ratio: 21.5
| Metric | Q4 FY26 | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹632 Cr | ▲ 14% | ₹555 Cr | ▲ 5% | ₹603 Cr |
| EBIDT | ₹332 Cr | ▲ 215% | ₹-290 Cr | ▲ 11% | ₹299 Cr |
| Net Profit | ₹71.1 Cr | ▲ 118% | ₹-401 Cr | ▲ 14% | ₹62.4 Cr |
| EPS | ₹4.17 | ▲ 118% | ₹-23.53 | ▲ 14% | ₹3.66 |
Verdict
Muthoot Microfin delivered a strong turnaround performance in Q4 FY26 with healthy growth across revenue, EBITDA, net profit, and EPS. The sharp recovery from last year’s losses indicates improving asset quality, better operational efficiency, and stabilizing microfinance business conditions. Sequential growth in profitability also reflects strengthening momentum heading into FY27.
One 97 Communications – Q4 FY26 Earnings Highlights
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹2,264 Cr | ▲ 18% | ₹1,912 Cr | ▲ 3% | ₹2,194 Cr |
| EBITDA | ₹132 Cr | ▲ 250% | Loss of ₹88 Cr | ▼ 15% | ₹155 Cr |
| Net Profit | ₹183 Cr | ▲ 767% | Loss of ₹545 Cr | ▼ 19% | ₹225 Cr |
| EPS | ₹2.87 | ▲ 134% | ₹-8.47 | ▼ 18% | ₹3.52 |
| Exceptional Items | ₹21 Cr | ▲ Improvement | ₹-523 Cr | – | – |
Verdict
One 97 Communications delivered a strong turnaround in Q4 FY26 with healthy revenue growth and a sharp improvement in profitability compared to last year. EBITDA turned positive from losses, while net profit and EPS saw major recovery supported by lower exceptional losses and improved operating efficiency. However, on a sequential basis, profit metrics moderated slightly due to softer QoQ margins and earnings normalization.
eMudhra – Q4 FY26 Earnings Highlights
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹193 Cr | ▲ 32% | ₹147 Cr | ▲ 3% | ₹188 Cr |
| EBIDT | ₹42.0 Cr | ▲ 21% | ₹34.8 Cr | ▲ 2% | ₹41.1 Cr |
| Net Profit | ₹29.6 Cr | ▲ 21% | ₹24.3 Cr | ▲ 2% | ₹29.0 Cr |
| EPS | ₹3.50 | ▲ 22% | ₹2.88 | ▲ 1% | ₹3.46 |
Verdict
eMudhra delivered a strong Q4 FY26 performance with healthy double-digit growth across revenue, EBITDA, net profit, and EPS on a year-on-year basis. Sequential growth remained steady, indicating stable demand momentum and consistent profitability improvement in its digital trust and cybersecurity business segments.
Sula Vineyards – Q4 FY26 Earnings Highlights
Price: ₹174 Market Cap: ₹1,465 Cr PE Ratio: 54.4
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹135 Cr | ▲ 7% | ₹126 Cr | ▼ 25% | ₹180 Cr |
| EBIDT | ₹27.7 Cr | ▼ 3% | ₹28.5 Cr | ▼ 13% | ₹32.0 Cr |
| Net Profit | ₹8.60 Cr | ▼ 33% | ₹13.0 Cr | ▼ 5% | ₹9.10 Cr |
| EPS | ₹1.02 | ▼ 34% | ₹1.54 | ▼ 6% | ₹1.08 |
Verdict
Sula Vineyards reported modest revenue growth in Q4 FY26, but profitability remained under pressure due to weaker operating margins. EBITDA declined despite higher sales, while net profit and EPS saw sharp year-on-year contraction. Sequentially, the company also witnessed softness across revenue and earnings, indicating slower demand momentum and margin pressure during the quarter.
Home First Finance – Q4 FY26 Earnings Highlights
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹501 Cr | ▲ 21% | ₹415 Cr | ▲ 4% | ₹482 Cr |
| EBIDT | ₹392 Cr | ▲ 19% | ₹331 Cr | ▲ 3% | ₹380 Cr |
| Net Profit | ₹149 Cr | ▲ 43% | ₹105 Cr | ▲ 6% | ₹140 Cr |
| EPS | ₹14.33 | ▲ 23% | ₹11.63 | ▲ 6% | ₹13.49 |
Verdict
Home First Finance Company India Ltd delivered a strong Q4 FY26 performance with healthy growth across sales, profitability, and earnings. Net profit growth of 43% YoY stood out, reflecting improving margins and stable asset quality. Sequential growth remained steady, indicating continued momentum in the affordable housing finance segment.
CESC – Q4 FY26 Earnings Highlights
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹4,096 Cr | ▲ 6% | ₹3,877 Cr | ▲ 2% | ₹4,005 Cr |
| EBIDT | ₹743 Cr | ▼ 8% | ₹812 Cr | ▼ 5% | ₹779 Cr |
| Net Profit | ₹459 Cr | ▲ 18% | ₹385 Cr | ▲ 51% | ₹304 Cr |
| EPS | ₹3.31 | ▲ 18% | ₹2.81 | ▲ 54% | ₹2.15 |
Verdict
CESC delivered steady revenue growth in Q4 FY26 with modest sequential improvement in sales. EBITDA declined both YoY and QoQ, indicating margin pressure in the quarter. However, strong growth in net profit and EPS reflects improved bottom-line performance, likely supported by better operational efficiencies and other income contribution. Overall, the results indicate stable business momentum with profitability improvement despite softer operating margins.
Bharat Seats – Q4 FY26 Earnings Highlights
Price: ₹201 | M.Cap: ₹1,262 Cr | PE: 29.2
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹574 Cr | ▲ 46% | ₹393 Cr | ▲ 17% | ₹491 Cr |
| EBITDA | ₹29.7 Cr | ▲ 31% | ₹22.7 Cr | ▲ 18% | ₹25.1 Cr |
| Net Profit | ₹13.2 Cr | ▲ 16% | ₹11.4 Cr | ▲ 33% | ₹9.90 Cr |
| EPS | ₹2.11 | ▲ 17% | ₹1.81 | ▲ 34% | ₹1.58 |
Verdict
Bharat Seats Limited delivered a strong Q4 FY26 performance with robust growth across sales and profitability. Revenue growth remained healthy both year-on-year and quarter-on-quarter, supported by steady operational expansion. EBITDA growth indicates improving operating efficiency, while strong sequential growth in net profit and EPS reflects margin improvement and better earnings momentum going into FY27.
Vimta Labs – Q4 FY26 Earnings Highlights
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹109 Cr | ▲ 16% | ₹94.4 Cr | ▲ 11% | ₹98.6 Cr |
| EBIDT | ₹39.4 Cr | ▲ 19% | ₹33.0 Cr | ▲ 15% | ₹34.2 Cr |
| Net Profit | ₹21.1 Cr | ▲ 15% | ₹18.3 Cr | ▲ 20% | ₹17.6 Cr |
| EPS | ₹4.73 | ▲ 15% | ₹4.12 | ▲ 20% | ₹3.94 |
Verdict
Vimta Labs delivered a strong Q4 FY26 performance with healthy double-digit growth across revenue, EBITDA, net profit, and EPS on both YoY and QoQ basis. Margin improvement and profit growth indicate strong operational efficiency, while sequential acceleration suggests sustained demand momentum in the testing and analytical services business.
Godrej Consumer Products – Q4 FY26 Earnings Highlights
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹3,900 Cr | ▲ 11% | ₹3,514 Cr | ▼ 2% | ₹3,998 Cr |
| EBIDT | ₹841 Cr | ▲ 11% | ₹759 Cr | ▼ 4% | ₹880 Cr |
| Net Profit | ₹452 Cr | ▲ 19% | ₹412 Cr | ▼ 9% | ₹498 Cr |
| EPS | ₹4.42 | ▲ 10% | ₹4.03 | ▼ 9% | ₹4.87 |
| Exceptional Items | -₹93 Cr | ▼ Higher Loss | -₹31.4 Cr | – | – |
Verdict
Godrej Consumer delivered steady double-digit growth in sales and operating profit during Q4 FY26, with net profit growth outperforming revenue growth on a YoY basis. However, sequential performance remained soft with slight declines across revenue, EBITDA, and PAT. Management’s positive commentary on Indonesia recovery and improving market conditions provides confidence for stronger growth momentum heading into FY27.
Birlasoft – Q4 FY26 Earnings Highlights
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹1,349 Cr | ▲ 2% | ₹1,317 Cr | ▲ 0.1% | ₹1,348 Cr |
| EBIDT | ₹249 Cr | ▲ 44% | ₹174 Cr | ▲ 2% | ₹245 Cr |
| Net Profit | ₹176 Cr | ▲ 44% | ₹122 Cr | ▲ 47% | ₹120 Cr |
| EPS | ₹6.29 | ▲ 43% | ₹4.39 | ▲ 46% | ₹4.30 |
Verdict
Birlasoft delivered a stable Q4 FY26 performance with flat sequential revenue growth but strong profitability expansion. EBITDA and net profit surged 44% YoY, while PAT also jumped sharply on a QoQ basis, indicating improved operational efficiency and margin expansion. EPS growth remained strong, reflecting healthy earnings momentum despite muted topline growth.
Meesho – Q4 FY26 Earnings Highlights
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹3,531 Cr | ▲ 47% | ₹2,400 Cr | ▲ 0.4% | ₹3,518 Cr |
| EBIDT | ₹-255 Cr | ▼ 10% | ₹-231 Cr | ▲ 53% Improvement | ₹-539 Cr |
| Net Profit | ₹-166 Cr | ▲ 56% Loss Reduction | ₹-1,391 Cr | ▲ 66% Improvement | ₹-491 Cr |
| EPS | ₹-0.36 | ▲ 100% | ₹-159.79 | ▲ 67% | ₹-1.09 |
Verdict
Meesho delivered strong revenue growth in Q4 FY26 with sales rising 47% YoY, while profitability metrics showed significant improvement sequentially. Despite EBITDA remaining negative, losses narrowed sharply on both QoQ and YoY basis, indicating improving operational efficiency and better cost management. The sharp recovery in EPS and net profit trend suggests the company is moving closer toward sustainable profitability.
PB Fintech – Q4 FY26 Earnings Highlights
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹2,061 Cr | ▲ 37% | ₹1,508 Cr | ▲ 16% | ₹1,771 Cr |
| EBIDT | ₹212 Cr | ▲ 90% | ₹112 Cr | ▲ 33% | ₹159 Cr |
| Net Profit | ₹261 Cr | ▲ 54% | ₹170 Cr | ▲ 38% | ₹189 Cr |
| EPS | ₹5.64 | ▲ 52% | ₹3.70 | ▲ 38% | ₹4.09 |
Verdict
PB Fintech delivered a strong Q4 FY26 performance with robust growth across revenue, EBITDA, net profit, and EPS on both YoY and QoQ basis. The company witnessed healthy margin expansion and improving profitability, reflecting strong operating leverage in the business model. Continued momentum in insurance distribution and digital financial services supported overall growth. However, elevated valuations indicate that the market is already factoring in strong future growth expectations.
Firstsource Solutions – Q4 FY26 Earnings Highlights
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹2,583 Cr | ▲ 20% | ₹2,161 Cr | ▲ 6% | ₹2,443 Cr |
| EBIDT | ₹430 Cr | ▲ 29% | ₹333 Cr | ▲ 7% | ₹403 Cr |
| Net Profit | ₹205 Cr | ▲ 28% | ₹161 Cr | ▲ 71% | ₹120 Cr |
| EPS | ₹2.90 | ▲ 28% | ₹2.27 | ▲ 71% | ₹1.70 |
| Annual EPS | ₹5.64 | ▲ 52% | ₹3.70 | ▲ 38% | ₹4.09 |
Verdict
Firstsource Solutions delivered a strong Q4 FY26 performance with healthy growth across revenue, EBITDA, profit, and EPS on both YoY and QoQ basis. Margin expansion and sharp sequential profit growth indicate improving operational efficiency and strong business momentum. Annual EPS growth of 52% further reflects sustained earnings strength and a positive long-term outlook.
Radico Khaitan – Q4 FY26 Earnings Highlights
| Metric | Mar 2026 | Dec 2025 | Mar 2025 | YoY Change | QoQ Change |
|---|---|---|---|---|---|
| Sales | ₹1,504 Cr | ₹1,547 Cr | ₹1,304 Cr | ▲ 15% | ▼ 3% |
| EBITDA | ₹284 Cr | ₹267 Cr | ₹178 Cr | ▲ 60% | ▲ 6% |
| Net Profit | ₹179 Cr | ₹155 Cr | ₹92.1 Cr | ▲ 95% | ▲ 15% |
| EPS | ₹13.40 | ₹11.57 | ₹6.88 | ▲ 95% | ▲ 16% |
Verdict
Radico Khaitan delivered a strong Q4 FY26 performance with healthy double-digit sales growth and sharp margin expansion. EBITDA and net profit nearly doubled YoY, reflecting improved product mix, premiumization, and operating leverage. Despite a slight QoQ decline in sales, profitability continued to improve sequentially, indicating strong execution and sustained demand momentum in the premium liquor segment.
KPIT Technologies – Q4 FY26 Earnings Highlights
Price: ₹749 | M.Cap: ₹20,536 Cr | PE: 30.4
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹1,711 Cr | ▲ 12% | ₹1,528 Cr | ▲ 6% | ₹1,617 Cr |
| EBIDT | ₹317 Cr | ▼ 2% | ₹323 Cr | ▲ 2% | ₹311 Cr |
| Net Profit | ₹163 Cr | ▼ 33% | ₹245 Cr | ▲ 23% | ₹133 Cr |
| EPS | ₹5.95 | ▼ 33% | ₹8.93 | ▲ 22% | ₹4.86 |
Management Commentary
• Constant Currency Revenue Growth stood at 1.8% QoQ.
• Management indicated that FY27 appears more promising than FY26 in terms of revenue growth visibility and market opportunities.
• EBITDA margin guidance has been lowered to 18% versus earlier 22%.
Verdict
KPIT Technologies delivered steady revenue growth in Q4 FY26 with healthy sequential improvement in profitability. However, year-on-year pressure on EBITDA margins and a sharp decline in net profit impacted overall earnings quality. Despite the reduced EBITDA guidance, management remains optimistic on FY27 demand visibility, especially driven by opportunities in the automotive and mobility technology space.
KPI Green Energy – Q4 FY26 Earnings Highlights
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹796 Cr | ▲ 40% | ₹569 Cr | ▲ 20% | ₹663 Cr |
| EBIDT | ₹291 Cr | ▲ 81% | ₹161 Cr | ▲ 23% | ₹236 Cr |
| Net Profit | ₹155 Cr | ▲ 46% | ₹104 Cr | ▲ 23% | ₹126 Cr |
| EPS | ₹7.36 | ▲ 46% | ₹5.04 | ▲ 23% | ₹5.97 |
Verdict
KPI Green Energy delivered a strong Q4 FY26 performance with robust growth across revenue, EBITDA, and net profit. EBITDA growth of 81% YoY indicates significant margin expansion and improving operational efficiency. The company also maintained healthy sequential momentum with solid QoQ growth in profitability, reflecting strong execution in the renewable energy business and sustained demand visibility.
Brigade Enterprises – Q4 FY26 Earnings Highlights
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹1,458 Cr | ▼ 0% | ₹1,460 Cr | ▼ 7% | ₹1,575 Cr |
| EBIDT | ₹365 Cr | ▼ 12% | ₹416 Cr | ▼ 11% | ₹411 Cr |
| Net Profit | ₹191 Cr | ▼ 42% | ₹249 Cr | ▼ 7% | ₹206 Cr |
| EPS | ₹5.95 | ▼ 41% | ₹10.10 | ▼ 22% | ₹7.63 |
Verdict
Brigade Enterprises reported a weak Q4 FY26 performance with flat revenue growth and pressure on profitability. EBITDA and net profit declined both YoY and QoQ due to margin compression and lower earnings efficiency. EPS also saw a sharp decline, indicating softer operational performance during the quarter.
Management Commentary
Management stated that pricing pressures in Indonesia have now “bottomed out,” supported by 4% volume growth in the region. The company expects a meaningful improvement in performance and market normalization from FY27 onward, while maintaining calibrated growth in the India business.