Torrent Power – Q4 FY26 Earnings Highlights
| Metric | Mar 2026 | Dec 2025 | Mar 2025 | YoY Change | QoQ Change |
|---|---|---|---|---|---|
| Sales | ₹6,406 Cr | ₹6,778 Cr | ₹6,456 Cr | ▼ 1% | ▼ 5% |
| EBITDA | ₹1,149 Cr | ₹1,403 Cr | ₹1,130 Cr | ▲ 2% | ▼ 18% |
| Net Profit | ₹331 Cr | ₹655 Cr | ₹1,077 Cr | ▼ 70% | ▼ 49% |
| EPS | ₹6.31 | ₹12.76 | ₹21.03 | ▼ 70% | ▼ 51% |
Verdict
Torrent Power reported a weak Q4 FY26 performance with marginal decline in revenue and a sharp fall in profitability. While EBITDA remained slightly higher on a year-on-year basis, margins weakened sequentially due to lower operational performance. Net profit and EPS dropped significantly both YoY and QoQ, indicating pressure on overall earnings during the quarter.
Dr. Reddy’s Laboratories – Q4 FY26 Earnings Highlights
Price: ₹1,270 | M.Cap: ₹1,06,018 Cr | PE: 25.3
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹7,546 Cr | ▼ 12% | ₹8,528 Cr | ▼ 14% | ₹8,753 Cr |
| EBIDT | ₹382 Cr | ▼ 81% | ₹1,998 Cr | ▼ 80% | ₹1,888 Cr |
| Net Profit | ₹221 Cr | ▼ 86% | ₹1,587 Cr | ▼ 81% | ₹1,190 Cr |
| EPS | ₹2.65 | ▼ 86% | ₹19.09 | ▼ 82% | ₹14.50 |
Verdict
Dr. Reddy’s Laboratories reported a weak Q4 FY26 performance with significant declines across revenue, EBITDA, net profit, and EPS on both YoY and QoQ basis. The sharp fall in profitability indicates pressure on margins and operational performance during the quarter, reflecting a challenging business environment and subdued earnings momentum.
Tata Power – Q4 FY26 Earnings Highlights
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹14,900 Cr | ▼ 13% | ₹17,096 Cr | ▲ 7% | ₹13,948 Cr |
| EBIDT | ₹2,599 Cr | ▼ 15% | ₹3,068 Cr | ▼ 15% | ₹3,042 Cr |
| Net Profit | ₹1,416 Cr | ▲ 2% | ₹1,306 Cr | ▲ 19% | ₹1,194 Cr |
| EPS | ₹3.12 | ▼ 4% | ₹3.26 | ▲ 29% | ₹2.42 |
Verdict
Tata Power reported a mixed Q4 FY26 performance. Revenue and EBITDA declined both on a year-on-year and operational quarter-on-quarter basis, indicating pressure on core margins. However, net profit showed resilience with growth on both YoY and QoQ basis, supported by improved profitability and operational efficiency. EPS remained slightly lower YoY despite strong sequential recovery.
MTAR Technologies – Q4 FY26 Earnings Highlights
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹306 Cr | ▲ 67% | ₹183 Cr | ▲ 10% | ₹278 Cr |
| EBIDT | ₹61.6 Cr | ▲ 80% | ₹34.3 Cr | ▼ 4% | ₹64.0 Cr |
| Net Profit | ₹44.3 Cr | ▲ 212% | ₹14.2 Cr | ▲ 26% | ₹35.2 Cr |
| EPS | ₹14.42 | ▲ 212% | ₹4.62 | ▲ 26% | ₹11.43 |
Verdict
MTAR Technologies delivered a strong Q4 FY26 performance with robust growth across revenue and profitability. Sales grew sharply on both YoY and QoQ basis, while net profit and EPS more than tripled YoY, reflecting strong operating leverage and execution strength. EBITDA remained healthy despite a slight sequential dip, indicating stable margins. The company continues to benefit from strong demand in clean energy, aerospace, defence, and nuclear segments, though the elevated valuation keeps expectations high.
Berger Paints India – Q4 FY26 Earnings Highlights
Price: ₹488 | M.Cap: ₹56,895 Cr | PE: 48.8
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹2,868 Cr | ▲ 6% | ₹2,704 Cr | ▼ 4% | ₹2,984 Cr |
| EBIDT | ₹482 Cr | ▲ 13% | ₹428 Cr | ▲ 2% | ₹471 Cr |
| Net Profit | ₹335 Cr | ▲ 27% | ₹263 Cr | ▲ 24% | ₹271 Cr |
| EPS | ₹2.87 | ▲ 28% | ₹2.25 | ▲ 23% | ₹2.33 |
Verdict
Berger Paints delivered a healthy Q4 FY26 performance with steady sales growth and strong improvement in profitability. EBITDA and net profit outpaced revenue growth, indicating better operational efficiency and margin expansion. While sales moderated slightly on a sequential basis, earnings momentum remained strong with robust QoQ growth in profit and EPS, reflecting improving business fundamentals.
Dixon Technologies (India) Limited – Q4 FY26 Earnings Highlights
Price: ₹10,138 | M.Cap: ₹61,650 Cr | PE: 42.9
| Metric | Mar 2026 | Dec 2025 | Mar 2025 | YoY Change | QoQ Change |
|---|---|---|---|---|---|
| Sales | ₹10,511 Cr | ₹10,672 Cr | ₹10,293 Cr | ▲ 2% | ▼ 2% |
| EBITDA | ₹408 Cr | ₹414 Cr | ₹443 Cr | ▼ 8% | ▼ 1% |
| Net Profit | ₹298 Cr | ₹321 Cr | ₹465 Cr | ▼ 36% | ▼ 7% |
| EPS | ₹42.17 | ₹47.34 | ₹66.54 | ▼ 37% | ▼ 11% |
Verdict
Dixon Technologies reported muted Q4 FY26 performance with marginal sales growth of 2% YoY, while profitability remained under pressure. EBITDA declined 8% YoY due to margin compression, and net profit dropped sharply by 36% YoY. On a sequential basis as well, revenue and earnings weakened, reflecting softer operational performance during the quarter. EPS also declined significantly both YoY and QoQ, indicating pressure on overall earnings despite stable revenue trajectory.
Vinati Organics – Q4 FY26 Earnings Highlights
Price: ₹1,314 | M.Cap: ₹13,600 Cr | PE: 27.9
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹611 Cr | ▼ 6% | ₹648 Cr | ▲ 15% | ₹529 Cr |
| EBIDT | ₹183 Cr | ▼ 0% | ₹184 Cr | ▲ 14% | ₹161 Cr |
| Net Profit | ₹138 Cr | ▲ 8% | ₹128 Cr | ▲ 28% | ₹108 Cr |
| EPS | ₹13.26 | ▲ 8% | ₹12.31 | ▲ 27% | ₹10.46 |
Verdict
Vinati Organics delivered a mixed Q4 FY26 performance with revenue declining on a year-on-year basis, while profitability remained resilient. EBITDA stayed flat YoY but improved sequentially, indicating better operational efficiency during the quarter. Net profit and EPS posted healthy growth both YoY and QoQ, reflecting margin stability and improved earnings momentum despite lower sales compared to last year.
Borosil Renewables – Earnings Highlights
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹440 Cr | ▲ 18% | ₹374 Cr | ▲ 13% | ₹390 Cr |
| EBIDT | ₹136 Cr | ▲ 785% | ₹15.4 Cr | ▲ 11% | ₹123 Cr |
| Net Profit | ₹169 Cr | Turnaround | Loss of ₹29.5 Cr | ▲ 69% | ₹100 Cr |
| EPS | ₹12.07 | Turnaround | Loss of ₹1.52 | ▲ 69% | ₹7.14 |
Verdict
Borosil Renewables reported a sharp turnaround in Mar 2026 results with strong growth across all key metrics. Sales growth remained healthy on both YoY and QoQ basis, while EBITDA surged significantly due to improved operating performance and margin expansion. Net profit and EPS turned strongly positive compared to last year’s losses, indicating a major earnings recovery and improving business momentum.
K P R Mill Ltd – Q4 FY26 Earnings Highlights
Price: ₹921 | M.Cap: ₹31,515 Cr | PE: 36.4
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹1,785 Cr | ▲ 1% | ₹1,769 Cr | ▲ 22% | ₹1,467 Cr |
| EBIDT | ₹348 Cr | ▲ 5% | ₹333 Cr | ▲ 18% | ₹295 Cr |
| Net Profit | ₹227 Cr | ▲ 11% | ₹205 Cr | ▲ 9% | ₹209 Cr |
| EPS | ₹6.65 | ▲ 11% | ₹5.98 | ▲ 9% | ₹6.10 |
Verdict
K P R Mill delivered a stable Q4 FY26 performance with modest revenue growth and healthy improvement in profitability. EBITDA, net profit, and EPS showed strong year-on-year as well as sequential growth, indicating better operational efficiency and margin expansion despite slower topline growth. Overall, the results reflect resilient business momentum and steady earnings performance.
Keystone Realtors – Q4 FY26 Earnings Highlights
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹1,596 Cr | ▲ 173% | ₹585 Cr | ▲ 500% | ₹266 Cr |
| EBIDT | ₹81.5 Cr | ▲ 71% | ₹47.6 Cr | ▲ 727% | ₹9.85 Cr |
| Net Profit | ₹63.6 Cr | ▼ 19% | ₹67.0 Cr | ▲ 1,152% | ₹5.08 Cr |
| EPS | ₹4.15 | ▼ 19% | ₹5.14 | ▲ 1,437% | ₹0.27 |
Verdict
Keystone Realtors reported a sharp recovery in Q4 FY26 with exceptional quarter-on-quarter growth across sales, EBITDA, net profit, and EPS, driven by strong project execution and revenue recognition. On a year-on-year basis, revenue growth remained very strong, while profitability and EPS declined compared to the high base of last year, indicating margin pressure despite robust top-line expansion.
M & B Engineering – Q4 FY26 Earnings Highlights
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹364 Cr | ▲ 16% | ₹314 Cr | ▲ 3% | ₹352 Cr |
| EBIDT | ₹37.9 Cr | ▼ 9% | ₹41.6 Cr | ▼ 5% | ₹39.7 Cr |
| Net Profit | ₹27.0 Cr | ▼ 5% | ₹28.5 Cr | ▲ 6% | ₹25.5 Cr |
| EPS | ₹4.72 | ▼ 17% | ₹5.70 | ▲ 6% | ₹4.46 |
Verdict
M & B Engineering reported healthy revenue growth in Q4 FY26 with sales rising both YoY and QoQ, indicating steady business momentum. However, profitability remained under pressure as EBITDA and EPS declined on a yearly basis, reflecting margin compression. Net profit showed slight sequential improvement, suggesting some operational recovery, but overall earnings quality stayed mixed due to weaker margins despite strong top-line growth.
Bharat Bijlee – Q4 FY26 Earnings Highlights
Price: ₹2,576 | M.Cap: ₹2,914 Cr | PE: 24.3
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹767 Cr | ▲ 24% | ₹619 Cr | ▲ 35% | ₹568 Cr |
| EBIDT | ₹55.2 Cr | ▼ 13% | ₹63.4 Cr | ▲ 61% | ₹34.3 Cr |
| Net Profit | ₹39.3 Cr | ▼ 22% | ₹50.3 Cr | ▲ 59% | ₹24.7 Cr |
| EPS | ₹34.77 | ▼ 22% | ₹44.51 | ▲ 59% | ₹21.83 |
Verdict
Bharat Bijlee reported strong revenue growth in Q4 FY26 with sales rising sharply both YoY and QoQ. However, profitability remained under pressure on a yearly basis as EBITDA, net profit, and EPS declined compared to last year. Sequentially, the company showed a healthy recovery in margins and earnings, indicating improving operational momentum during the quarter.
V-Guard Industries – Q4 FY26 Earnings Highlights
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹1,687 Cr | ▲ 14% | ₹1,480 Cr | ▲ 27% | ₹1,326 Cr |
| EBIDT | ₹143 Cr | ▲ 18% | ₹121 Cr | ▲ 50% | ₹95.6 Cr |
| Net Profit | ₹95.4 Cr | ▲ 22% | ₹78.1 Cr | ▲ 126% | ₹42.3 Cr |
| EPS | ₹2.18 | ▲ 22% | ₹1.79 | ▲ 125% | ₹0.97 |
Verdict
V-Guard Industries delivered a strong Q4 FY26 performance with healthy double-digit growth across sales, EBITDA, net profit, and EPS on a year-on-year basis. The company also witnessed sharp quarter-on-quarter recovery in profitability, indicating improved operational efficiency and strong demand momentum across key business segments.
Taneja Aerospace & Aviation Ltd. – Q4 FY26 Earnings Highlights
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹11.5 Cr | ▼ 7% | ₹12.4 Cr | ▲ 11% | ₹10.4 Cr |
| EBIDT | ₹6.33 Cr | ▼ 23% | ₹8.25 Cr | ▲ 4% | ₹6.10 Cr |
| Net Profit | ₹5.11 Cr | ▼ 16% | ₹6.12 Cr | ▲ 19% | ₹4.30 Cr |
| EPS | ₹2.00 | ▼ 17% | ₹2.40 | ▲ 18% | ₹1.69 |
Verdict
Taneja Aerospace & Aviation Ltd. reported a mixed Q4 FY26 performance. While sequential growth remained positive across sales, EBITDA, net profit, and EPS, year-on-year numbers declined due to weaker operational performance and margin pressure. Profitability remained healthy despite lower revenue compared to the year-ago quarter.
Texmaco Rail & Engineering Ltd – Q4 FY26 Earnings Highlights
Price: ₹106 | M.Cap: ₹4,304 Cr | PE: 21.8
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹1,167 Cr | ▼ 13% | ₹1,346 Cr | ▲ 12% | ₹1,042 Cr |
| EBIDT | ₹106 Cr | ▲ 9% | ₹97.6 Cr | ▲ 19% | ₹88.7 Cr |
| Net Profit | ₹58.0 Cr | ▲ 45% | ₹39.2 Cr | ▲ 37% | ₹42.3 Cr |
| EPS | ₹1.42 | ▲ 42% | ₹1.00 | ▲ 35% | ₹1.05 |
Verdict
Texmaco Rail delivered a mixed Q4 FY26 performance with revenue declining on a yearly basis, but profitability improved strongly across EBITDA, net profit, and EPS. Sequentially, the company showed healthy recovery in both operational and bottom-line performance, indicating margin expansion and improved execution despite lower annual sales.
BirlaNu Ltd – Q4 FY26 Earnings Highlights
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹1,010 Cr | ▲ 9% | ₹929 Cr | ▲ 18% | ₹858 Cr |
| EBIDT | ₹-7.65 Cr | ▼ 134% | ₹22.4 Cr | ▲ 40% | ₹-12.8 Cr |
| Net Profit | ₹-22.4 Cr | ▼ 64% | ₹-24.7 Cr | ▲ 58% | ₹-53.0 Cr |
| EPS | ₹-29.64 | ▲ 10% | ₹-32.77 | ▲ 58% | ₹-70.32 |
Verdict
BirlaNu Ltd reported healthy revenue growth in Q4 FY26 with strong improvement on both YoY and QoQ basis. However, the company remained in loss at operating and net profit levels. EBITDA stayed negative due to pressure on margins, though sequential improvement indicates some operational recovery. Net loss narrowed significantly compared to the previous quarter, reflecting improving business stability despite continued profitability challenges.
Sagility – Q4 FY26 Earnings Highlights
Price: ₹43.1 M.Cap: ₹20,154 Cr PE: 21.3
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹2,024 Cr | ▲ 29% | ₹1,568 Cr | ▲ 3% | ₹1,971 Cr |
| EBIDT | ₹485 Cr | ▲ 30% | ₹373 Cr | ▼ 5% | ₹511 Cr |
| Net Profit | ₹258 Cr | ▲ 41% | ₹183 Cr | ▼ 4% | ₹268 Cr |
| EPS | ₹0.55 | ▲ 41% | ₹0.39 | ▼ 4% | ₹0.57 |
Verdict
Sagility reported strong year-on-year growth across revenue, EBITDA, net profit, and EPS, reflecting healthy operational momentum and margin stability. However, on a sequential basis, profitability moderated slightly during the quarter despite steady revenue growth, indicating some short-term pressure on margins after a strong previous quarter.
Stove Kraft – Q4 FY26 Earnings Highlights
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹415 Cr | ▲ 32% | ₹313 Cr | ▲ 10% | ₹378 Cr |
| EBIDT | ₹39.5 Cr | ▲ 34% | ₹29.5 Cr | ▲ 15% | ₹34.3 Cr |
| Net Profit | ₹6.05 Cr | ▲ 317% | ₹1.45 Cr | ▲ 46% | ₹4.15 Cr |
| EPS | ₹1.83 | ▲ 316% | ₹0.44 | ▲ 46% | ₹1.25 |
Verdict
Stove Kraft delivered a strong Q4 FY26 performance with healthy double-digit growth in sales and operating profit, while net profit and EPS surged sharply on both YoY and QoQ basis. Margin improvement and better operational efficiency supported earnings growth, indicating improving business momentum going into FY27.
Subex – Q4 FY26 Earnings Highlights
Price: ₹11.0 M.Cap: ₹619 Cr PE: 19.3
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹73.0 Cr | ▲ 3% | ₹70.6 Cr | ▲ 3% | ₹70.8 Cr |
| EBIDT | ₹9.16 Cr | ▲ 170% | -₹13.0 Cr | ▲ 1% | ₹9.04 Cr |
| Net Profit | ₹9.93 Cr | ▲ 157% | -₹17.6 Cr | ▲ 239% | ₹2.93 Cr |
| EPS | ₹0.18 | ▲ 158% | ₹-0.31 | ▲ 260% | ₹0.05 |
Verdict
Subex reported a strong turnaround performance in Q4 FY26 with profitability improving sharply on both YoY and QoQ basis. While revenue growth remained modest, the company delivered a significant recovery in EBITDA, net profit, and EPS compared to losses in the previous year, indicating better operational efficiency and margin expansion.
INOX India – Q4 FY26 Earnings Highlights
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹461 Cr | ▲ 25% | ₹369 Cr | ▲ 7% | ₹429 Cr |
| EBIDT | ₹94.6 Cr | ▲ 17% | ₹81.1 Cr | ▲ 1% | ₹93.6 Cr |
| Net Profit | ₹75.2 Cr | ▲ 11% | ₹65.5 Cr | ▲ 24% | ₹60.7 Cr |
| EPS | ₹8.29 | ▲ 15% | ₹7.22 | ▲ 24% | ₹6.69 |
Verdict
INOX India reported a strong Q4 FY26 performance with healthy growth across revenue and profitability. Sales growth remained robust on both YoY and QoQ basis, while net profit and EPS showed sharp sequential improvement, indicating strong execution and improving operational efficiency. Stable EBITDA growth alongside margin resilience reflects continued demand momentum in the industrial and cryogenic solutions business.
Sai Silks (Kalamandir) Limited – Q4 FY26 Earnings Highlights
Price: ₹108 M.Cap: ₹1,662 Cr PE: 11.8
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹419 Cr | ▲ 5% | ₹399 Cr | ▲ 2% | ₹411 Cr |
| EBIDT | ₹61.2 Cr | ▲ 5% | ₹58.4 Cr | ▼ 13% | ₹70.2 Cr |
| Net Profit | ₹32.6 Cr | ▲ 142% | ₹13.5 Cr | ▼ 14% | ₹38.1 Cr |
| EPS | ₹2.13 | ▲ 142% | ₹0.88 | ▼ 14% | ₹2.49 |
Verdict
Sai Silks reported steady revenue growth in Q4 FY26 with sales and EBITDA improving on a yearly basis. Net profit and EPS surged sharply YoY due to strong margin expansion and lower base effect. However, on a sequential basis, profitability moderated compared to the Dec 2025 quarter, indicating some near-term pressure on operating performance despite stable revenue momentum.
Gopal Snacks – Q4 FY26 Earnings Highlights
Price: ₹314 | M.Cap: ₹3,917 Cr | PE: 88.0
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹410 Cr | ▲ 29% | ₹317 Cr | ▲ 2% | ₹401 Cr |
| EBIDT | ₹31.5 Cr | ▲ 1452% | ₹2.03 Cr | ▲ 4% | ₹30.4 Cr |
| Net Profit | ₹30.0 Cr | ▲ 176% | Loss of ₹39.5 Cr | ▲ 94% | ₹15.5 Cr |
| EPS | ₹2.40 | ▲ 176% | ₹-3.17 | ▲ 94% | ₹1.24 |
Verdict
Gopal Snacks reported a strong Q4 FY26 performance with robust growth across all key metrics. Sales growth remained healthy on both YoY and QoQ basis, while profitability saw a sharp turnaround from last year’s loss. EBITDA margins improved significantly, reflecting better operational efficiency and cost management. Net profit and EPS nearly doubled sequentially, indicating strong earnings momentum heading into FY27.
Max Financial Services – Q4 FY26 Earnings Highlights
Market Cap: ₹57,095 Cr
P/E: 687.2
| Metric | Value | YoY Change | YoY Base | QoQ Change | QoQ Base |
|---|---|---|---|---|---|
| Sales | ₹10,802 Cr | ▼ 13% | ₹12,376 Cr | ▼ 24% | ₹14,259 Cr |
| EBIDT | ₹-5.99 Cr | ▼ 130% | ₹19.8 Cr | ▼ 108% | ₹78.0 Cr |
| Net Profit | ₹-31.5 Cr | ▼ 184% | ₹38.3 Cr | ▼ 170% | ₹44.8 Cr |
| EPS | ₹-0.76 | ▼ 184% | ₹0.91 | ▼ 172% | ₹1.06 |
Verdict
Max Financial reported a weak Q4 FY26 performance with sharp declines across revenue, profitability, and earnings on both YoY and QoQ basis. The company slipped into losses at EBITDA and net profit levels, indicating pressure on operational performance and margins during the quarter.
