Q4 Results 29th May Live: Natco Pharma & BEML Q4 profit decline, Asian Paints & IPCA Lab profit up y-o-y, RCOM loss widens, IndiGo, NMDC, Glenmark Pharma, IREDA, Gujarat Gas, Inox Wind, NMDC Steel, JM Financial to announce Q4 results

Inventory down

BDL This autumn outcomes dwell: Shares finish 6% decrease, here is what brokerages say

BDL This autumn outcomes: Bharat Dynamics shares tumble 8% after weak This autumn earnings elevate execution issues

Bharat Dynamics shares plummet 8% after disappointing This autumn earnings elevate issues over execution and income conversion.

Inventory down

Ashok Leyland This autumn outcomes dwell: Shares finish in crimson

Ashok Leyland shares fall after early beneficial properties as margin issues overshadow This autumn earnings beat

Ashok Leyland shares dip post-earnings as a consequence of margin issues, regardless of an preliminary rise and robust quarterly revenue outcomes.

Quarterly outcomes

Asian Paints This autumn outcomes dwell:

Asian Paints posts sturdy This autumn rebound, declares ₹27.50 complete dividend for FY26

For the total yr FY26, standalone internet gross sales grew 4.3 per cent to ₹30,680 crore, whereas consolidated internet gross sales rose 5.1 per cent to ₹35,516 crore

Inventory down

IndiGo This autumn outcomes dwell: Shares down forward of outcomes

Interglobe Aviation shares ended 3.61% decrease at Rs 4,405 on the NSE forward of This autumn outcomes.

Quarterly outcomes

RCOM / Reliance Communications This autumn outcomes dwell: Loss widens

Reliance Communications posted standalone internet loss for the quarter ended March 2026 at Rs 321 crore in comparison with Rs 24 crore loss in the identical quarter final yr.

Inventory market

Inventory market dwell, This autumn outcomes dwell: Sensex, Nifty witness sharp fall forward of weekend

Sensex settled 1092.06 pts or 1.44% decrease at 74,775.74, hitting a low of 74,589.11 in comparison with the earlier shut of 75,867.80, and Nifty 50 fell 359.40 pts or 1.5% to 23,547.75.

Quarterly outcomes

NLC Industries This autumn outcomes dwell: Revenue rises

NLC Industries posted standalone internet revenue for the quarter ended March 2026 at Rs 66.19 crore in comparison with Rs 9.13 crore in the identical quarter final yr.

Board authorized to discontinue the operations of its Doorways division in view of operational and business challenges.

Board really helpful remaining dividend of Rs 2 per share, along with interim dividend of Rs 1.50 per share.

Quarterly outcomes

RattanIndia Enterprises This autumn outcomes dwell: Narrows loss

RattanIndia Enterprises narrowed its loss in Q4FY26 to Rs 124.7 crore in comparison with Rs 352.9 crore loss in Q4FY25.

Inventory market

Inventory market dwell, This autumn outcomes dwell at present: Markets tank forward of weekend

At round 3.05 pm, benchmarks have been down over 1%. Sensex tanked 1046.37 pts or 1.38% to 74,821.43, and NIfty 50 slumped 349.55 pts or 1.46% to 23,557.60.

Quarterly outcomes

AvenuesAI (Infibeam Avenues) This autumn outcomes dwell:

AvenuesAI (Infibeam Avenues) reported consolidated internet revenue for the quarter ended March 2026 at Rs 88.9 crore in comparison with Rs 54.6 crore in the identical quarter final yr.

Board authorized the acquisition of steadiness 9.90% stake from the prevailing Shareholder of Nueromind Applied sciences Non-public Restricted (“Nueromind”), Subsidiary Firm. Put up acquisition, it could turn into a Wholly Owned Subsidiary Firm.

Board authorized to make an funding of not exceeding 2.50% stake in Ratnaafin Capital Non-public Restricted. 

Quarterly outcomes

Mishra Dhatu Nigam This autumn outcomes dwell: Revenue rises

Mishra Dhatu Nigam reported standalone internet revenue for the quarter ended March 2026 at Rs 77.74 crore in comparison with Rs 56.14 crore in the identical quarter final yr.

Board really helpful remaining dividend Rs. 1.25 per fairness share.

Shares surged 3% to Rs 428.40 on the NSE.

Quarterly outcomes

Asian Paints This autumn outcomes dwell: highlights

Asian Paints Standalone Outcomes, This autumn FY’26: 

• Standalone Internet Gross sales elevated by 10.3% to ₹ 7,894.1 crore from ₹ 7,157.1 crore. 

• PBDIT (Revenue earlier than depreciation, curiosity, tax and different earnings) for the quarter elevated by 26.0% to ₹ 1,670.0 crore from ₹ 1,325.3 crore. 

• PBDIT Margin as % to Internet Gross sales elevated to 21.2% from 18.5% within the corresponding interval of the earlier yr. 

• Revenue earlier than distinctive gadgets and tax elevated by 34.4% to ₹ 1,558.8 crore from ₹ 1,159.6 crore. 

• Internet Revenue earlier than distinctive gadgets elevated 32.7%. • Internet Revenue elevated by 67.1% to ₹ 1,160.7 crore from ₹ 694.8 crore. 

Quarterly outcomes

Natco Pharma This autumn outcomes dwell: This autumn revenue declines

Natco Pharma reported standalone internet revenue for the quarter ended March 2026 at Rs 209.6 crore in comparison with Rs 428.1 crore in the identical quarter final yr.

Shares fall 10% to Rs 1,061.30 on the NSE.

Inventory market

Inventory market dwell updates, This autumn outcomes dwell: Markets stage vital volatility 

Round 2.20 pm, Sensex dragged 448.14 pts or 0.59% to commerce at 75,419.66, and Nifty 50 fell 163.80 pts or 0.69% to 23,743.35. 

Quarterly outcomes

Asian Paints This autumn outcomes dwell: This autumn revenue rises

Asian Paints’ standalone internet revenue for the quarter ended March 2026 stood at Rs 1,160.74 crore in comparison with Rs 694.79 crore in the identical quarter final yr.

Board really helpful remaining dividend of Rs 23 per share.

Shares flat at Rs 2,701.70 on the NSE.

Quarterly outcomes

IPCA Laboratories This autumn outcomes dwell: Revenue declines q-o-q, up y-o-y

IPCA Laboratories posted standalone internet revenue for the quarter ended March 2026 at Rs 262.29 crore in comparison with Rs 65.05 crore loss in the identical quarter final yr and Rs 303.45 crore revenue in December 2025 quarter.

Board really helpful dividend of Rs 6 per share.

Shares flat at Rs 1,572.20 on the NSE.

Quarterly outcomes

Arkade Builders This autumn outcomes dwell: Highlights

Arkade Builders Restricted, certainly one of Mumbai’s main actual property builders, at present highlighted the sturdy operational efficiency delivered throughout FY26 alongside the strategic rationale and long-term worth creation potential of its landmark Filmistan acquisition. The Firm recorded sturdy enterprise momentum throughout FY26, pushed by sustained demand throughout key Mumbai Metropolitan Area (MMR) micro-markets, disciplined execution, and continued growth of its improvement pipeline. For FY26, Arkade Builders reported: 

• Pre-sales of ₹ 901 crore, reflecting a 17% year-on-year development 

• Whole income of ₹ 828 crore, up 19% year-on-year 

• Q4FY26 income development of 48% year-on-year to ₹ 199 crore 

• Collections of ₹ 728 crore throughout FY26 

• Sturdy steadiness sheet with internet debt of ₹ 73 crore and internet debt-to-equity ratio of 0.08 

The Firm additionally expanded its challenge pipeline to an estimated Gross Improvement Worth (GDV) of ₹ 12,800 crore throughout roughly 4.25 million sq. ft. of saleable carpet space, reinforcing long-term development visibility. Moreover, Arkade Builders has not too long ago secured cluster redevelopment rights for 9 Societies at Kandivali E with a projected GDV of appx 1,100 Crs spanning throughout 3 Acres. Throughout FY26, Arkade Builders accomplished the strategic acquisition of Filmistan Non-public Restricted and associated possession rights related to the enduring Filmistan property situated in Goregaon West, Mumbai. 

The acquisition represents a uncommon alternative to develop a landmark ultra-luxury residential challenge in certainly one of Mumbai’s most premium and strategically situated residential micro-markets. As a part of the transaction and subsequent restructuring train undertaken to consolidate possession instantly underneath Arkade Builders, the tenancy rights beforehand held by Filmistan Non-public Restricted have been adjusted pursuant to the switch course of. This resulted in a one-time distinctive accounting influence of roughly ₹182 crore within the consolidated monetary statements for FY26.

Quarterly outcomes

Deccan Cements This autumn outcomes dwell:

Deccan Cements’ standalone internet prfoit for the quarter ended March 2026 at Rs 4.72 ccrore in comparison with Rs 7.95 crore in the identical quarter final yr.

Board really helpful dividend of Rs 0.50 per share.

Quarterly outcomes

BEML This autumn outcomes dwell: This autumn revenue declines

BEML posted standalone internet revenue for the quarter ended March 2026 at Rs 179.32 crore (falling 60.6%) from Rs 288.04 crore in the identical quarter final yr

Declared 2nd interim dividend of Rs 2.30 per share.

Shares fell over 7% to Rs 1,702.90 on the NSE.

Quarterly outcomes

Bartronics India This autumn outcomes dwell:

Bartronics India posted standalone internet revenue for the quarter ended March 2026 at Rs 2.09 crore in comparison with Rs 93.10 lakh in the identical quarter final yr

Quarterly outcomes

Kernex Microsystems (India) This autumn outcomes dwell:

Kernex Microsystems (India) posted standalone internet revenue for the quarter ended March 2026 at Rs 64.56 crore in comparison with Rs 32.50 crore in the identical quarter final yr.

Shares rallied 15% to Rs 1,703.60 on the NSE.

Quarterly outcomes

Metal Strips Wheels This autumn outcomes dwell:

Metal Strips Wheels posted standalone internet revenue for the quarter ended March 2026 at Rs 64.45 crore in comparison with Rs 61.70 crore in the identical quarter final yr.

Board really helpful remaining dividend of Rs 1.50 per share.

Refill

Happiest Minds Tech This autumn outcomes dwell: Shares surge

Happiest Minds Tech shares surged 4% in early commerce to Rs 394 earlier than buying and selling flat at Rs 378.10 at 12.57 pm.

It reported a 79.9 per cent development in consolidated internet revenue to Rs 61.17 crore within the January-March quarter of FY26

Inventory down

Ashiana Housing This autumn outcomes dwell: Shares in focus

Ashiana Housing shares declined 2% to Rs 369.85 at 12.54 pm.

Its consolidated internet revenue remained almost flat at Rs 20.98 crore for the quarter ended March 2026.

Quarterly outcomes

Jyoti CNC Automation This autumn outcomes dwell: Revenue up

Jyoti CNC Automation reported standalone internet revenue for the quarter ended March 2026 at Rs 135.03 crore in comparison with Rs 121.91 crore in the identical quarter final yr.

Shares traded flat on the NSE at Rs 652.25 

Quarterly outcomes

This autumn outcomes dwell:

Adisoft Tech internet revenue up 79% on sturdy demand

Adisoft Tech reviews a 79% internet revenue enhance, pushed by sturdy demand for automation options and manufacturing efficiencies.

Quarterly outcomes

This autumn outcomes dwell:

Mrs. Bectors crosses ₹2,000 crore income mark, inventory slides 1.4% on muted margins

Mrs. Bectors reviews ₹2,043.6 crore income, however inventory dips 1.4% amid revenue decline and pressured margins.

Quarterly outcomes

BF Funding This autumn outcomes dwell: Shares rally

BF Funding reported standalone internet revenue for the quarter ended March 2026 at Rs 87.3 crore in comparison with Rs 30.8 crore in the identical quarter final yr.

Board really helpful remaining dividend of Rs 10 per share.

Shares rallied 15% to Rs 462 on the NSE

Quarterly outcomes

Panama Petrochem This autumn outcomes dwell: Dividend | Board really helpful dividend of Rs 3 per share.

Quarterly outcomes

Aegis Logistics This autumn RESULTS LIVE: Revenue jumps

Aegis Logistics posted standalone internet revenue for the quarter ended March 2026 at Rs 524.31 crore in comparison with Rs 225.64 crore in the identical quarter final yr.

Board really helpful remaining dividend of Rs 6.70 per share.

Shares traded 6% increased on the NSE at Rs 757.70.

Inventory down

Bata India This autumn outcomes dwell: Share down

Bata India shares traded 3.5% decrease at Rs 668.65 on the NSE, hitting a low of Rs 657.95 from the earlier shut of Rs 692.60.

It posted standalone internet revenue for the quarter ended March 2026 at Rs 2 crore (tumbling 95.2% y-o-y) in comparison with Rs 43.5 crore in the identical quarter final yr. 

Refill

Graphite India This autumn outcomes dwell: Shares reverse loss

Graphite India shares surged almost 3% to Rs 766.85 at round 11.40 am after opening decrease at Rs 736.05 and hitting a low of Rs 716 from the earlier shut of Rs 746.80.

It posted standalone internet loss for the quarter ended March 2026 at Rs 73 crore in comparison with Rs 62 crore revenue in the identical quarter final yr. 

Refill

Physicswallah This autumn outcomes dwell: Shares achieve

Physicswallah shares achieve 5% after This autumn loss narrows, brokerages keep constructive on development outlook

Physicswallah shares rise 5% post-This autumn loss discount, with brokerages optimistic about development and profitability outlook.

Inventory down

Bharat Dynamics This autumn outcomes dwell: Shares tumble

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BDL This autumn outcomes: Bharat Dynamics shares tumble 8% after weak This autumn earnings elevate execution issues

Bharat Dynamics shares plummet 8% after disappointing This autumn earnings elevate issues over execution and income conversion.

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Brokerages view | ​READ​

Refill

Alkem This autumn outcomes dwell: Shares rally

Alkem Labs inventory jumps after This autumn income development and upbeat FY27 outlook

Shares of Alkem Laboratories surged over 6 per cent in early commerce on Friday after the corporate reported sturdy income development for the March quarter and issued a constructive outlook for FY27, with administration highlighting development alternatives in India, the US and different worldwide markets.

Right here’s what brokerages say | READ MORE

Quarterly outcomes

Mrs. Bectors Meals Specialities This autumn outcomes dwell: Section/ operational efficiency

✓Biscuit phase income stood at Rs. 278 crores towards Rs. 257 crores in This autumn FY25, registering a development 8% in comparison with This autumn FY25 together with home and export biscuits phase. The Biscuit phase has grown by 16% in comparison with This autumn FY24 

✓Bakery phase income stood at Rs. 195 crores towards Rs. 179 crores in This autumn FY25, registering a development of 9% in comparison with This autumn FY25 together with retail bakery and institutional phase. The Bakery phase has grown by 29% in comparison with This autumn FY24

Quarterly outcomes

TIL This autumn outcomes dwell: Highlights

Inventory down

Ashok Leyland This autumn outcomes dwell: Shares decline, erasing early beneficial properties

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Ashok Leyland shares fall after early beneficial properties as margin issues overshadow This autumn earnings beat

Ashok Leyland shares dip post-earnings as a consequence of margin issues, regardless of an preliminary rise and robust quarterly revenue outcomes.

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​READ MORE​

Refill

Prime Focus This autumn outcomes dwell:

Prime Focus posted standalone internet revenue for the quarter ended March 2026 at Rs 4.32 crore in comparison with Rs 16.11 crore loss in the identical quarter final yr.

Shares up 2% to Rs 244 on the NSE

Inventory down

Unimech Aerospace and Manufacturing This autumn outcomes dwell:

Unimech Aerospace and Manufacturing shares traded 4% decrease at Rs 941 on the NSE.

Firm posted standalone internet revenue for the quarter ended March 2026 at Rs 1.89 crore in comparison with Rs 5.11 crore in the identical quarter final yr.

Refill

Alkem Lab This autumn outcomes dwell: Shares zoom

Alkem Laboratories shares surged 6.1% to Rs 5,789 on the NSE earlier than buying and selling at Rs 5,742 at 9.27 am.

Its standalone internet revenue for the quarter ended March 2026 stood at Rs 217 crore in comparison with Rs 276.9 crore in the identical quarter final yr. 

Board really helpful remaining dividend of Rs 10 per share. 

Refill

Ashok Leyland This autumn outcomes dwell: Shares in focus

Ashok Leyland shares rose 1.2% in early commerce to Rs 165.70 from the earlier shut of Rs 163.62 earlier than buying and selling flat at Rs 162.46 at 9.23 am.

It reported an 11 per cent enhance in consolidated internet revenue for the fourth quarter ended March 31, 2026, to ₹1,381 crore

Inventory market

Inventory market dwell, This autumn outcomes dwell: Markets rise marginally

Sensex gained 199.69 pts or 0.26% to 76,067.49 at 9.16 am after opening at 75,988.51 in comparison with the earlier shut of 75,867.80, and Nifty 50 inched up by 35.75 pts or 0.15% to 23,942.90.

Quarterly outcomes

Ashok Leyland This autumn outcomes dwell: Revenue rises

Ashok Leyland posts report FY26 revenue, income and CV gross sales development

Ashok Leyland reported report FY26 income and revenue as business automobile gross sales, exports and Change Mobility enterprise posted sturdy development.

Quarterly outcomes

This autumn RESULTS LIVE: EARNINGS PREVIEW

EQUITY PREVIEW:

* Alkem Lab (ALKEM): 4Q Internet Revenue -23% Y/y to INR2.36b, Misses Estimates (1)

* Ashok Leyland (AL): 4Q Internet Revenue +12% Y/y to INR14.04b, Meets Estimates

* Bata India (BATA): 4Q Internet Revenue -95% Y/y to INR22.1m, Misses Estimates

* Enviro Infra (EIEL): Wins INR2.07b order for Hybrid renewable power challenge

* GAIL India (GAIL): Buys Cargo for June Supply at Mid-$17 Vary: LNG TENDER

* GMR Airports (GMRAIRPO): 4Q Internet Revenue INR3.02b vs. loss 2.38b Y/y

* HCL Applied sciences (HCLT): Launches Autonomous Finance platform to be used with Gemini Enterprise

* IDFC First Financial institution (IDFCFB): Will get 5.15B Rupees for Microfinance-Associated Declare

* Indian Oil Corp. (IOCL): Buys Cargo for June Supply: LNG TENDER

* JSW Metal (JSTL): Begins Improvement of 13.2M Tons/Yr Paradeep Plant

* Lupin (LPC): Says its Ankleshwar facility will get EIR from U.S. FDA

* Oil India (OINL): Signal Jv. pact with Hindustan Waste for bioenergy & sustainable useful resource restoration

* P&G Hygiene (PG): 4Q Internet Revenue 1.53B Rupees Vs. 1.56B Rupees Y/y

* Sanstar (SANSTAR): Ingredion Takes 9% Fairness Stake in Sanstar, Enters Joint Enterprise

* Tata Consultancy (TCS): TCS Companions With Mistral to Construct AI Fashions for Enterprises

* Tata Elxsi (TELX): Introduces Helthcare AI improvement platform

* Varroc Engineering (VARROC): Approves elevating INR5b by way of bonds

* Wipro (WPRO): Develop Servicenow pact to EMBED Agentic AI Workflows

* Wockhardt (WPL): Will get India regulatory nod to import, market Zaynich

* Zydus Lifesciences (ZYDUSLIF): Raises Buyback Value to 1,260 Rupees/Share

Quarterly outcomes

This autumn RESULTS LIVE: KEY RESULTS TO WATCH

EARNINGS (internet earnings adj. ests. in INR the place out there):

* Aegis Logistics Ltd. (AEGISLOG IN) 4Q 2.36b (5 analysts)

* Asian Paints Ltd. (APNT IN) 4Q 10.4b (21)

* BEML Ltd. (BEML IN) 4Q

* Harmony Biotech Ltd. (CONCORDB IN) 4Q

* Glenmark Prescription drugs Ltd. (GNP IN) 4Q 5.2b (5)

* Inox Wind Ltd. (INXW IN) 4Q

* InterGlobe Aviation Ltd. (INDIGO IN) 4Q 18.7b (6)

* IPCA Laboratories Ltd. (IPCA IN) 4Q 2.61b (11)

* JM Monetary Ltd. (JM IN) 4Q

* Jyoti CNC Automation Ltd. (JYOTICNC IN) 4Q

* NMDC Ltd. (NMDC IN) 4Q 22.2 (5)

* NMDC Metal Ltd. (NSLNISP IN) 4Q

* Natco Pharma Ltd. (NTCPH IN) 4Q 1.65b (6)

* Olectra Greentech Ltd. (OLECTRA IN) 4Q

* Swan Corp. (SWANCORP IN) 4Q

Quarterly outcomes

Ecos Mobility This autumn outcomes dwell

MNCL Analysis | Ecos Mobility – Q4FY26 First Lower | Miss throughout 

CMP: – Rs 154; Score- BUY (underneath revision)

Revenues: – The corporate reported a development of 16.7% YoY to Rs 2,068mn (MNCL est – Rs 2,154mn). We imagine the expansion is essentially on account of development throughout ETS and CCR division. 

Margins: – Gross margins for the quarter contracted by 176bps YoY (+43bps QoQ) to 26.7%, (MNCL est – 27%). Whereas OPM for the quarter contracted by 325 bps YoY (+35bps QoQ) to 11.7% (MNCL est – 12.2%), largely on account of decrease gross revenue and better worker prices (+176bps YoY). 

EBITDA: – EBITDA for the quarter declined by 8.7% YoY (+3.4% QoQ) to Rs 242mn (MNCL est – Rs 263mn). This is because of decrease gross revenue and better worker prices. 

PAT: – PAT for the quarter declined by 12.9% YoY (+12.9% QoQ) to Rs 157mn (MNCL est – Rs 161mn). 

View -The corporate’s efficiency through the quarter remained under our expectations, which we imagine might have been partly impacted by the continued West Asia battle and associated disruptions. Nonetheless, we proceed to stay constructive on the long-term outlook for Ecos Mobility, supported by the rising variety of GCCs being established in India. Rising company hiring, growth of enterprise journey necessities, and rising desire for organized mobility options are anticipated to assist sustained development for the corporate over the medium time period.

Quarterly outcomes

This autumn outcomes dwell:

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Quarterly outcomes

ESAB India This autumn outcomes dwell:

MNCL Analysis – ESAB India: Q4FY26 and FY26 outcomes first reduce

CMP: Rs 6,950 | TP: Rs 7,860 (UR) | Score: Purchase (UR)

Q4FY26 Consolidated

Income: Rs 3,958mn; +7.6% YoY, +4.5% QoQ. 2.4% under our estimates

EBITDA: Rs 628mn; -4.5% YoY, -17.1% QoQ. 22.6% under our estimates primarily as a consequence of a 13 bps YoY fall in gross margin and a 29% enhance in worker prices. 

EBITDA margin: 15.9%; -202 bps YoY, -413 bps QoQ; 415 bps under our estimates. Throughout the quarter, the corporate issued ESOPs to eligible staff excluding which the autumn in EBITDA margin would have been 120 bps YoY and 330 bps QoQ. 

PAT: Rs 592mn; -10.1% YoY, +12.5% QoQ. +4.8% vs our estimates as a consequence of achieve from sale of land in Koolkata partially offset by labour code associated fees.

FY26 Consolidated

Income: Rs 15,082mn; +9.8% YoY.

EBITDA: Rs 2,698mn; +10.3% YoY. 

EBITDA margin: 17.9%; +9 bps YoY.

PAT: Rs 2,610mn; +6.3% YoY.

Our view: Q4FY26 topline development was weaker than anticipated with increased worker prices impacting working margins. Our channel checks point out, the corporate has elevated its product costs by 10-15% between Q4FY26 and Q1FY27 however quantity development could have been impacted as a consequence of decrease infrastructure exercise, state elections, and decreased manpower. We are going to revisit our estimates and score on the inventory shortly. 

Quarterly outcomes

This autumn Outcomes dwell: Highlights

Latest Interview…

As of 18:31 PM Wednesday 27 Could 2026

Aequs Restricted: Aravind Melligeri, Chairman CEO

A Weak This autumn For Aequs | Client Electronics Biz Will See EBITDA Break-Even By Q4FY27, Says Firm

Aequs Restricted: Aravind Melligeri, Chairman CEO

Aerospace Increase + Client Scale-Up: Why Aequs Sees Large Development Forward

Black Field: Sanjeev Verma, President & CEO

A Sturdy Q4FY26 For Black Field | Anticipate Working Money Movement To Begin Enhancing In FY27, Says Firm

Quarterly outcomes

Ivalue infosolutions This autumn outcomes dwell:

MNCL analysis | Ivalue infosolutions – Q4FY26 First Lower | Steady set

Mcap: Rs 13.2bn | CMP: Rs 240 | TP: Rs 330 – Below revision

~ The co. reported income of Rs 2.7bn for the Q4FY26, development of 20.8%/4.6% QoQ/YoY. Under our ests. of Rs 3.3bn.

~EBITDA got here at Rs 545mn registering a development of 90.0%/15.4% QoQ/ YoY, got here in-line with our estimate of Rs 550mn. EBITDA Margins stood at 20.0% above our estimate of 16.7%. 

~PAT for Q4FY26 stood at Rs 428mn a development of 173.0%/19.4% QoQ/YoY; above our estimate of Rs 388mn on account of upper different earnings.

Our view:

Ivalue reported a robust set of outcomes for Q4FY26. Income development got here under our estimates, primarily as a consequence of decrease variety of massive deal closures through the quarter. Nonetheless, margins exceeded expectations, supported by increased ASPs and sturdy enterprise demand. Money collections have been sturdy, with CFO at Rs 1.0bn (Rs 0.4bn in FY25), resulting in an enchancment in internet working capital to 30 days (vs. 43 days earlier). The cybersecurity phase continued to carry out nicely, delivering a wholesome 27.6% YoY development. Annuity earnings remained regular at 42.2%.