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Kolte-Patil Q3 PAT Declines 30% YoY to ₹20.3 Cr; Blackstone Stake Reaches 40%
Kolte-Patil Developers reported a standalone Profit After Tax (PAT) of ₹20.34 crore for Q3 FY26, a 30.3% decline from ₹29.18 crore in the same quarter last year. Revenue from operations fell to ₹249.17 crore compared to ₹299.38 crore YoY, reflecting the lumpy nature of real estate revenue recognition. For the nine-month period ended December 2025, the company posted a net loss of ₹1.07 crore against a profit of ₹44.02 crore in the previous year. A significant strategic milestone was reached with Blackstone (BREP Asia) now holding a 40% stake in the company following a preferential allotment and share purchase.
Key Highlights
Standalone Revenue from operations for Q3 FY26 stood at ₹249.17 crore, down 16.8% YoY.
Net Profit for the quarter decreased to ₹20.34 crore from ₹29.18 crore in Q3 FY25.
Nine-month revenue for FY26 saw a sharp decline to ₹422 crore from ₹881.27 crore in 9M FY25.
Blackstone affiliate completed the acquisition of a 40% stake via preferential allotment of 1.26 crore shares at ₹329 per share.
Amalgamation of Kolte-Patil Integrated Townships Limited with the company became effective on October 31, 2025.
💼 Action for Investors
While the quarterly earnings show a decline in profit and revenue, investors should focus on the strategic entry of Blackstone as a 40% stakeholder which could provide significant growth capital and operational expertise. Monitor the execution of the project pipeline and the impact of the recent merger on consolidated margins.
Jyoti Structures Appoints Industry Veteran Amit Dutta as COO with 36 Years of Experience
Jyoti Structures Limited has announced the appointment of Mr. Amit Dutta as its Chief Operating Officer (COO) effective February 5, 2026. Mr. Dutta is a seasoned professional with 36 years of experience in the power transmission and distribution (T&D) sector. His expertise covers business development, project execution, and contract management for high-voltage and extra-high-voltage projects globally. This strategic hire is expected to enhance the company's operational efficiency and project delivery capabilities.
Key Highlights
Appointment of Mr. Amit Dutta as Chief Operating Officer (COO) effective February 5, 2026
Mr. Dutta brings 36 years of specialized experience in the transmission and distribution sector
Expertise includes delivering high-voltage (HV) and extra-high-voltage (EHV) projects in India and international markets
Focus areas include business development, tendering, project execution, and cost/time control management
💼 Action for Investors
Investors should view this as a positive step toward strengthening operational leadership, though they should monitor if this translates into improved project execution and margin control in future earnings.
Kritika Wires Q3 FY26 PAT Declines 23% YoY to ₹1.63 Cr; Revenue Down 10% YoY
Kritika Wires reported a weak performance for Q3 FY26, with revenue from operations declining 10% YoY to ₹161.13 crore. Net profit for the quarter fell by 23% YoY to ₹1.63 crore, down from ₹2.12 crore in the previous year's corresponding quarter. While the nine-month revenue showed an 8.2% growth, the nine-month PAT dropped significantly to ₹4.14 crore from ₹6.74 crore YoY, reflecting margin pressure. The company also announced the resignation of its Company Secretary and Compliance Officer, effective January 20, 2026.
Key Highlights
Revenue from operations decreased 9.9% YoY to ₹161.13 crore in Q3 FY26.
Net Profit (PAT) for the quarter stood at ₹1.63 crore, a 23.1% decline from ₹2.12 crore in Q3 FY25.
9M FY26 PAT fell to ₹4.14 crore compared to ₹6.74 crore in 9M FY25, despite higher cumulative revenue.
Company Secretary Mahesh Kumar Sharma resigned effective January 20, 2026.
A provision of ₹187.55 lakh was previously made for disputed entry tax liabilities, impacting the 9M bottom line.
💼 Action for Investors
Investors should exercise caution as the company is experiencing a decline in both top-line and bottom-line performance on a YoY basis. The pressure on margins despite higher 9M revenue suggests rising operational costs or pricing challenges that need monitoring.
Kritika Wires Q3 FY26 Revenue Drops 8.5% YoY to ₹163.77 Cr; PAT Declines 27.8%
Kritika Wires Limited reported a weak set of results for Q3 FY26, with revenue from operations falling 8.5% YoY to ₹16,377.43 lakh. Net profit for the quarter saw a sharp decline of 27.8% YoY, coming in at ₹153.01 lakh compared to ₹211.92 lakh in the previous year. While cumulative 9-month revenue grew to ₹54,761.41 lakh, the 9-month net profit dropped significantly to ₹414.28 lakh from ₹673.72 lakh, indicating severe margin pressure. Additionally, the company announced the resignation of its Company Secretary, Mr. Mahesh Kumar Sharma.
Key Highlights
Revenue from operations decreased 8.5% YoY to ₹16,377.43 lakh in Q3 FY26.
Net Profit (PAT) for the quarter fell 27.8% YoY to ₹153.01 lakh.
9-month PAT dropped to ₹414.28 lakh from ₹673.72 lakh in the previous year despite higher sales.
Finance costs reduced to ₹96.20 lakh in Q3 FY26 from ₹156.19 lakh in Q3 FY25.
Company Secretary and Compliance Officer Mahesh Kumar Sharma resigned effective January 20, 2026.
💼 Action for Investors
Investors should exercise caution as the company is experiencing significant margin contraction despite maintaining revenue levels over a 9-month period. Monitor raw material cost trends and the company's ability to pass on costs in the industrial steel wire segment.
Bharti Hexacom Q3 Net Profit Jumps 81% YoY to ₹4,737 Million
Bharti Hexacom reported a strong Q3 FY26 with revenue from operations rising to ₹23,598 million, a 4.8% increase year-on-year. Net profit surged by 81.5% YoY to ₹4,737 million, supported by steady operational growth and a one-time tax credit. The company's EBITDA margin stood healthy at 54.7%, while the mobile services segment remained the dominant revenue contributor. Profitability was further boosted by a ₹487 million exceptional tax credit related to spectrum usage charges.
Key Highlights
Revenue from operations grew 4.8% YoY to ₹23,598 million compared to ₹22,507 million in Q3 FY25.
Net profit increased significantly to ₹4,737 million from ₹2,609 million in the same quarter last year.
EBITDA reached ₹12,919 million, reflecting a year-on-year growth of 7.9%.
Recognized an exceptional tax credit of ₹487 million following a favorable tribunal judgment on spectrum usage charges.
Basic EPS rose to ₹9.47 for the quarter, up from ₹5.22 in the year-ago period.
💼 Action for Investors
The strong bottom-line growth and margin stability indicate robust operational health; investors should remain positive while monitoring the long-term impact of the New Labour Codes.
Bharti Airtel Q3 FY26: Revenue Rises 3.5% QoQ to ₹53,982 Cr; Net Debt Reduced Significantly
Bharti Airtel delivered a robust performance for Q3 FY26, with consolidated revenue growing 3.5% QoQ to Rs 539,816 million. EBITDA margins remained strong, with EBITDA rising 4.1% QoQ to Rs 311,436 million. The company saw a significant expansion in its total customer base, reaching 645.3 million users across 17 countries. Most notably, net debt excluding lease obligations was reduced by over Rs 141,600 million during the quarter, reflecting strong cash flow generation.
Key Highlights
Consolidated Revenue for Q3 FY26 reached Rs 539,816 million, up from Rs 521,454 million in Q2.
EBITDA grew 4.1% QoQ to Rs 311,436 million, with an Operating Free Cash Flow of Rs 193,567 million.
Total customer base expanded to 645.3 million, a net addition of approximately 21.7 million users QoQ.
Net Debt (excluding lease obligations) decreased significantly to Rs 1,124,912 million from Rs 1,266,513 million in the previous quarter.
Net Income before exceptional items stood at Rs 69,199 million, maintaining a steady growth trajectory.
💼 Action for Investors
Investors should take confidence in the company's ability to grow its subscriber base while simultaneously reducing debt. The stock remains a core portfolio holding for exposure to the Indian and African telecom growth stories.
Bharti Airtel Q3 FY26 Net Profit Rises 25.5% YoY to ₹6,920 Cr; ARPU Hits ₹259
Bharti Airtel delivered a robust performance in Q3 FY26, with consolidated revenue growing 19.6% YoY to ₹53,982 crore. The growth was underpinned by a 13.2% YoY increase in India revenues and strong momentum in the Africa segment. Key operational metrics improved significantly, with India Mobile ARPU reaching ₹259 and the Homes business reporting record customer additions of 1.16 million. The company also demonstrated strong financial discipline, with the Net Debt to EBITDAaL ratio improving to 1.02 times.
Key Highlights
Consolidated Net Income (before exceptional items) grew 25.5% YoY to ₹6,920 crore.
India Mobile ARPU increased to ₹259 from ₹245 in Q3 FY25, driven by customer premiumization.
Homes business revenue surged 32.6% YoY with record quarterly net customer additions of 1.16 million.
Consolidated EBITDA margin expanded to 57.7%, with India business margins reaching 60.4%.
Net Debt to EBITDAaL ratio (annualized) improved to 1.02x, reflecting sustained deleveraging.
💼 Action for Investors
Investors should maintain a positive outlook as Airtel continues to lead in ARPU growth and high-value customer acquisition. The explosive growth in the Homes segment and consistent deleveraging provide a strong foundation for long-term value creation.
Bharti Airtel Q3 FY26 Revenue Grows 3.5% QoQ to ₹53,982 Cr; Net Profit at ₹8,503 Cr
Bharti Airtel reported a steady performance for Q3 FY26 with consolidated revenue reaching ₹53,982 crore, a 3.5% sequential growth. Consolidated EBITDA stood at ₹31,485 crore, maintaining strong margins despite an exceptional charge of ₹257 crore related to the new Labour Codes provision. The India Mobile Services segment continued its growth trajectory, contributing ₹28,652 crore to the top line. Additionally, the company has called for the final payment of ₹401.25 per share on its outstanding partly paid-up equity shares.
Key Highlights
Consolidated Revenue from operations rose 19.6% YoY to ₹539,816 million
EBITDA for the quarter stood at ₹314,851 million compared to ₹302,891 million in the previous quarter
Mobile Services India revenue grew to ₹286,516 million, up from ₹281,167 million in Q2 FY26
Exceptional item of ₹2,568 million recognized as a provision for gratuity under New Labour Codes
Final call of ₹401.25 per share approved for 39.23 crore partly paid-up equity shares
💼 Action for Investors
Investors should view the steady revenue growth and EBITDA margin expansion as positive indicators of operational health. The final call on rights shares will lead to a cleaner capital structure and provide additional capital for growth.
Bharti Hexacom Q3 FY26 Net Profit Jumps 81% YoY to ₹4,737 Million; EBITDA Margin Hits 54.3%
Bharti Hexacom reported a strong performance for Q3 FY26, with revenue growing to ₹23,598 million compared to ₹22,507 million in the same quarter last year. Net income after exceptional items saw a significant surge of 81.5% YoY, reaching ₹4,737 million. The company's operational efficiency improved as EBITDA margins expanded to 54.3% from 53.0% YoY. Furthermore, the company successfully reduced its net debt to ₹56,289 million from ₹78,900 million a year ago, showcasing a significantly healthier balance sheet.
Key Highlights
Revenue increased to ₹23,598 million in Q3 FY26, up from ₹22,507 million in Q3 FY25.
Net Income (after exceptional items) grew by 81.5% YoY to ₹4,737 million.
EBITDA margin improved to 54.3% compared to 53.0% in the corresponding quarter of the previous year.
Total customer base expanded to 29.038 million, adding over 1 million subscribers YoY.
Net Debt significantly reduced to ₹56,289 million, with the Net Debt to EBITDA ratio improving to 1.10x from 1.65x.
💼 Action for Investors
The company demonstrates strong operational leverage and aggressive debt reduction, which strengthens its financial position. Investors should view this as a positive sign of growth and efficiency in the telecom sector.
Bharti Hexacom Q3 FY26 Net Profit Rises 18.8% YoY to Rs 432 Cr; ARPU Hits Rs 253
Bharti Hexacom reported a steady Q3 FY26 with revenue growing 4.8% YoY to Rs 2,360 crore, supported by a 3.6% growth in mobile services. The company's ARPU improved significantly to Rs 253 from Rs 241 a year ago, driven by portfolio premiumization and quality customer additions. Net income (before exceptional items) saw a robust 18.8% YoY increase to Rs 432 crore, while EBITDA margins expanded by 128 bps to 54.3%. Notably, the Homes and Office segment showed explosive growth of 50.8% YoY, and the leverage ratio (Net Debt/EBITDAaL) improved to a healthy 0.48x.
Key Highlights
Revenue grew 4.8% YoY to Rs 2,360 crore; EBITDA increased 7.4% YoY to Rs 1,282 crore
Mobile ARPU rose to Rs 253 from Rs 241 YoY, reflecting successful premiumization
Net Income (before exceptional items) jumped 18.8% YoY to Rs 432 crore
Homes, Office and Other services segment revenue surged 50.8% YoY with 73K new additions
Net Debt to EBITDAaL ratio improved significantly to 0.48x from 1.03x in the previous year
💼 Action for Investors
Investors should view the consistent ARPU growth and strong margin expansion as positive indicators of operational efficiency. The rapid growth in the non-mobile segment and significant deleveraging further strengthen the company's fundamental outlook.
Bharti Hexacom Q3 Net Profit Jumps 81% YoY to ₹4,737 Million; Revenue Up 5% YoY
Bharti Hexacom reported a robust performance for Q3 FY26, with net profit surging 81.5% year-on-year to ₹4,737 million. Revenue from operations grew by 4.8% YoY to ₹23,598 million, primarily driven by the mobile services segment. The company benefited from a significant reduction in finance costs, which dropped from ₹1,802 million to ₹1,470 million YoY. Additionally, the bottom line was supported by a ₹487 million exceptional tax credit following a favorable tribunal judgment regarding spectrum usage charges.
Key Highlights
Net Profit increased by 81.5% YoY to ₹4,737 million in Q3 FY26 compared to ₹2,609 million in Q3 FY25.
Revenue from operations grew 4.8% YoY to ₹23,598 million, with Mobile Services contributing ₹22,718 million.
Finance costs reduced by 18.4% YoY to ₹1,470 million, reflecting improved debt positioning.
Exceptional tax credit of ₹487 million recognized due to a favorable Delhi Income Tax Tribunal judgment on spectrum charges.
Basic EPS rose significantly to ₹9.47 from ₹5.22 in the corresponding quarter of the previous year.
💼 Action for Investors
The strong growth in profitability and reduction in finance costs make this a positive result for shareholders. Investors should maintain a positive outlook while monitoring the impact of the New Labour Codes on future operating expenses.
NALCO Q3 FY26: Record Performance with 25% PBT Growth and 45% Alumina Sales Volume Surge
National Aluminium Company (NALCO) reported landmark results for Q3 and 9M FY26, with 9-month PBT increasing by 25% and income growing by 13%. The performance was driven by a massive 45% surge in alumina sales volumes and a 20% increase in alumina production, which helped offset a sharp decline in average alumina prices from $562 to $385. Metal realizations provided a cushion, rising from $2,538 to $2,867 per ton. The company also demonstrated strong cost control, with expenditure rising only 6% against a 13% revenue jump, aided by significant improvements in caustic soda consumption efficiency.
Key Highlights
9-month PBT increased by 25% YoY while total income grew by 13% (approx. Rs. 2,000 crore).
Alumina sales volume jumped 45% and production rose 20% in the 9-month period.
Metal realizations improved to $2,867 per ton from $2,538 in the previous year.
Operational efficiency improved with caustic soda consumption falling from 121 kg to 99 kg per ton.
New refinery commissioning is scheduled for June 2026, targeting 3 lakh tons of production in its first year.
💼 Action for Investors
Investors should maintain a positive outlook given the strong volume growth and operational efficiencies that are protecting margins against price volatility. The upcoming refinery expansion in June 2026 provides a clear catalyst for further capacity-led growth.
Jyoti Structures Appoints 36-Year Industry Veteran Amit Dutta as Chief Operating Officer
Jyoti Structures has appointed Amit Dutta as Chief Operating Officer to oversee its global EPC portfolio and improve project execution. Mr. Dutta brings 36 years of experience in power transmission and distribution, including a prior 30-year tenure at the company. This leadership addition follows the company's recent expansion of its Nashik manufacturing unit and reported strong Q3 FY2025-26 performance. The move is intended to strengthen operational governance and ensure cost-efficient delivery across its international projects in over 50 countries.
Key Highlights
Amit Dutta appointed as COO, bringing 36 years of experience in the T&D sector.
Dutta rejoins the company after a 6-year stint leading EPC projects in Africa and the Americas.
The appointment follows the recent commissioning of galvanisation operations at the Nashik factory.
Focus will be on execution discipline and cost-efficient delivery for the company's global EPC portfolio.
Company maintains operations across 50+ countries with a legacy of over four decades.
💼 Action for Investors
Investors should view this as a positive step toward institutionalizing operational discipline. Monitor if this leadership change translates into improved project margins and faster execution of the current order book.
ITI Limited Assigned IVR BBB-/Stable Rating for Rs 4,221.39 Crore Bank Facilities
Infomerics Valuation and Ratings Ltd. has assigned credit ratings to ITI Limited's bank facilities totaling Rs 4,221.39 Crore. The long-term facilities of Rs 1,450.00 Crore received an 'IVR BBB-/Stable' rating, while short-term facilities of Rs 2,771.39 Crore were assigned 'IVR A3'. The rating process utilized a consolidated financial approach, including the profile of India Satcom Limited. These ratings indicate a moderate degree of safety regarding the company's financial obligations.
Key Highlights
Long-term rating of IVR BBB-/Stable assigned to facilities worth Rs 1,450.00 Crore
Short-term rating of IVR A3 assigned to facilities worth Rs 2,771.39 Crore
Total bank facilities rated amount to Rs 4,221.39 Crore across major lenders like SBI and Bank of Baroda
Rating assessment includes the consolidated financials of ITI and India Satcom Limited (49.06% stake)
The ratings are valid for one year until February 1, 2027
💼 Action for Investors
Investors should note that while the rating is investment grade, BBB- is at the lower end of the spectrum, reflecting moderate credit risk. Monitor the company's execution of government projects and its impact on working capital management.
Timken India Q3 Standalone Net Profit Drops 33% YoY to ₹498.5 Mn; Revenue Up 13.8%
Timken India reported a standalone net profit of ₹498.49 million for the quarter ended December 31, 2025, a significant 33% decline compared to ₹743.06 million in the same period last year. While standalone revenue from operations grew 13.8% YoY to ₹7,643.76 million, profitability was pressured by rising material costs and a ₹46.74 million provision for new labor codes. The company successfully completed the acquisition of Timken GGB Technology for ₹1,288 million during the quarter. Additionally, the board has appointed Michael Discenza, CFO of the parent company, as a Non-Executive Director.
Key Highlights
Standalone Revenue from operations increased 13.8% YoY to ₹7,643.76 million.
Standalone Net Profit fell 33% YoY to ₹498.49 million, with EPS dropping to ₹6.63 from ₹9.88.
Completed 100% acquisition of Timken GGB Technology Private Limited for ₹1,288 million on December 1, 2025.
Recognized a one-time employee benefit expense of ₹46.74 million due to the implementation of new Government Labour Codes.
Michael Discenza (VP & CFO of The Timken Company) appointed as Non-Executive Director effective April 15, 2026.
💼 Action for Investors
Investors should be cautious regarding the sharp margin contraction despite healthy top-line growth. Monitor the integration of the GGB acquisition and whether the new board leadership can address rising operational costs in upcoming quarters.
Timken India Q3 Revenue Up 14% YoY to ₹7,797 Mn; Net Profit Declines 30% to ₹546 Mn
Timken India reported a 14.1% YoY growth in consolidated revenue for Q3 FY26, reaching ₹7,796.69 million. However, consolidated net profit fell significantly by 30.2% YoY to ₹545.56 million, impacted by rising material costs and a one-time provision of ₹46.74 million for new Labour Codes. The company successfully completed the acquisition of Timken GGB Technology Private Limited for ₹1,288 million on December 1, 2025. Additionally, the board has appointed Mr. Michael Discenza as a Non-Executive Director effective April 2026.
Key Highlights
Consolidated Revenue from operations grew 14.1% YoY to ₹7,796.69 million.
Consolidated Net Profit declined 30.2% YoY to ₹545.56 million from ₹782.08 million.
Completed 100% acquisition of Timken GGB Technology Private Limited for ₹1,288 million.
Recognized a one-time employee benefit expense of ₹46.74 million due to Government Labour Code notifications.
Quarterly EPS dropped to ₹7.25 compared to ₹10.40 in the same quarter last year.
💼 Action for Investors
Investors should be cautious as the sharp decline in profitability despite healthy revenue growth indicates significant margin pressure. Monitor the integration of the GGB acquisition and the company's ability to pass on rising material costs in future quarters.
Asian Granito Q3FY26 Net Profit at ₹18.5 Cr; EBITDA Surges 210% YoY to ₹41 Cr
Asian Granito reported a strong turnaround in Q3FY26, with consolidated revenue growing 16% YoY to ₹424 crore. The company achieved a significant profit after tax of ₹18.49 crore, compared to a loss in the previous year, driven by a 210% surge in EBITDA. Improved margins were supported by a sharp reduction in fuel costs, with average gas prices dropping from ₹35.98 to ₹28.06 per scm. The sanitaryware segment showed robust growth of 49% YoY, while the company maintains a long-term revenue target of ₹6,000 crore.
Key Highlights
Consolidated Q3FY26 revenue increased 16% YoY to ₹424 crore, with 9MFY26 revenue reaching ₹1,219 crore.
EBITDA for the quarter jumped 210% YoY to ₹41 crore, with margins expanding by 603 bps to 9.62%.
Turned profitable with a PAT of ₹18.49 crore in Q3FY26 against a loss of ₹4.15 crore in Q3FY25.
Average natural gas costs declined significantly to ₹28.06/scm from ₹35.98/scm a year ago.
Sanitaryware segment revenue grew by 49% YoY to ₹35.09 crore, reflecting successful diversification.
💼 Action for Investors
The company's successful turnaround from losses to profitability and significant margin expansion due to lower input costs are highly positive. Investors should monitor the sustainability of these margins and the progress toward their ambitious ₹6,000 crore revenue vision.
Everest Industries Appoints Subramaniam Venkatakrishnan as VP for Boards & Panels Business
Everest Industries has appointed Mr. Subramaniam Venkatakrishnan as Vice President and Business Head for its Boards & Panels division, effective February 4, 2026. He brings over 20 years of specialized experience from Knauf India, where he led solution selling for ceilings and wall paneling. Concurrently, the former head, Mr. Rahul Chopra, has transitioned to a new role as Senior VP of Skill Development, CSR, and Public Advocacy. This leadership refresh in a core business segment suggests a strategic focus on leveraging technical expertise and market development.
Key Highlights
Appointment of Mr. Subramaniam Venkatakrishnan as VP (Business Head – Boards & Panels) effective Feb 4, 2026
Mr. Venkatakrishnan brings over 20 years of experience in building materials, including a long tenure at Knauf India
Mr. Rahul Chopra moves from BU Head to Senior VP - Head of Skill Development, CSR, and Public Advocacy
New appointee holds a B.Arch from NIT Trichy and a PG in Construction Management from NICMAR Pune
💼 Action for Investors
Investors should view this as a positive step toward strengthening the leadership of a key business vertical. Monitor the Boards & Panels segment's performance in upcoming quarters to see if this leadership change translates into market share gains.
Mohit Industries Revises Rights Issue Size Downward to Rs 15 Crores
Mohit Industries Limited has announced a significant revision to its proposed fundraise via a rights issue. The Rights Issue Committee has reduced the total issue size to Rs 15 Crores, down from the previously approved limit of Rs 25 Crores set in November 2025. This adjustment indicates a change in the company's capital requirements or a more conservative approach to equity dilution. All other terms of the equity issuance remain the same as per the original board approval.
Key Highlights
Proposed rights issue size revised downward to a maximum of Rs 15 Crores.
Original fundraise limit was set at Rs 25 Crores on November 14, 2025.
The issuance will consist of equity shares offered to existing eligible shareholders.
The decision was finalized in a Rights Issue Committee meeting held on February 4, 2026.
All other terms and conditions of the proposed issue remain unchanged.
💼 Action for Investors
Investors should wait for the announcement of the record date and rights entitlement ratio to understand the exact dilution. The reduction in issue size is slightly positive for existing shareholders as it results in less equity dilution than originally planned.
Datamatics Q3 FY26 Revenue Up 19.9% YoY to ₹510.1 Cr; EBITDA Margins Expand to 18.9%
Datamatics reported a strong operational performance in Q3 FY26 with revenue growing 19.9% YoY to ₹510.1 crores and EBITDA surging 76.4% YoY to ₹96.2 crores. However, reported PAT fell 42.5% QoQ to ₹36.4 crores due to a one-time exceptional charge of ₹40.3 crores related to new labor code liabilities. Operationally, the company achieved its best-ever EBITDA margin of 18.9%, driven by efficiency and cost optimization. Management remains optimistic about the pipeline and is aggressively democratizing AI through a partnership with Google Gemini.
Key Highlights
Revenue grew 19.9% YoY to ₹510.1 crores, marking one of the company's best quarters.
EBITDA margins expanded significantly by 604 bps YoY to reach 18.9%.
One-time exceptional hit of ₹40.3 crores due to new labor codes impacted net profit.
Net cash and investments remained strong at ₹540.2 crores as of December 2025.
Strategic AI focus initiated with 200 employees certified on Google Gemini Enterprise.
💼 Action for Investors
Investors should look past the one-time regulatory hit to PAT and focus on the robust 18.9% EBITDA margins and double-digit revenue growth. The company's strong cash position and AI-first strategy position it well for long-term value creation.