Q1 FY26 earnings calls.

JSW Steel reported Q1 FY26 consolidated revenue of INR 43,147 crore and EBITDA of INR 7,576 crore (margin 17.6%). PAT stood at INR 2,209 crore. Domestic sales grew 12% YoY, outpacing industry growth of ~8%, driven by str

Kalyan Jewellers delivered a strong Q1 FY26 with consolidated revenue of INR 7,268 crore (+31% YoY) and PAT of INR 264 crore (+49% YoY), driven by robust same-store growth of 18% in India and margin gains from a pilot le

KFin Technologies delivered a solid Q1 FY26 with revenue growing 15.4% YoY and EBITDA margin at 41.5%, within the guided 40-45% range. Domestic mutual fund revenue grew 17.2% YoY, though yield compressed to 3.43 bps (fro

Kotak Mahindra Bank reported a 7% YoY decline in standalone PAT to INR 3,282 crore, driven by margin compression and elevated credit costs. NIM fell to 4.65% from 5.02% a year ago due to repo rate cuts and a shift in ass

L&T delivered a strong Q1 FY26 with group revenues of INR 63,700 crore (+16% YoY) and PAT of INR 3,600 crore (+30% YoY), driven by robust execution in hydrocarbons and high-tech manufacturing. Order inflows surged 33% Yo

M&M reported a strong Q1 FY26 with consolidated PAT up 24% YoY to INR4,083 crore and ROE crossing 20.6% for the first time. Auto revenue grew 31% driven by SUV volume growth of 22% and market share expansion to 27.3% (+5

Maruti Suzuki reported Q1 FY26 net sales of INR 36,620 crore (+8.1% YoY) and net profit of INR 3,710 crore (+1.6% YoY), driven by a favorable product mix and strong export growth of 37.4% YoY, which offset a 4.5% domesti

ONGC reported consolidated PAT of INR 11,552 crore for Q1 FY26, up 18.2% YoY, driven by higher other income from HVCR and lower statutory levies due to SAED abolition. Standalone PAT fell 10.2% to INR 8,024 crore on lowe

PowerGrid reported Q1 FY26 consolidated total income of INR 11,444 crore, EBITDA of INR 9,527 crore, and PAT of INR 3,631 crore. PAT declined ~2% YoY due to higher CSR spend (INR 70 crore) and JV losses. Standalone PAT g

Reliance Industries reported a strong Q1 FY26 with consolidated EBITDA of INR 58,000 crore, up 36% YoY, driven by robust performance across digital services (Jio EBITDA +24% YoY), retail (EBITDA +13% YoY), and O2C (EBITD

SBI Life reported a solid Q1 FY26 with PAT growth of 14% to INR 5.94 billion, driven by a favorable product mix shift towards non-par savings and protection. Individual rated new business premium grew 8% to INR 34.7 bill

SBI reported a strong Q1 FY26 with net profit of INR 19,160 crore, up 12.48% YoY, driven by robust retail growth and cost containment. Domestic credit grew 11.06% YoY, with home loans up 15% on a large base. Net NPA impr

Sun Pharma reported Q1 FY26 consolidated revenue of INR 13,786 crore, up 10.1% YoY, driven by India formulation growth of 13.9% and global Innovative Medicines growth of 16.9%. EBITDA came in at INR 4,302 crore (margin 3

Tata Consumer reported a 10% revenue growth to ₹4,779 crore in Q1 FY26, driven by double-digit growth in India branded business (tea, salt) and international markets. However, consolidated EBITDA declined 8% and margins

Tata Motors reported a challenging Q1 FY26 with consolidated revenue down 2.5% YoY to INR 104,000 crore and EBITDA margin contracting 480 bps to 9.2%. JLR was hit hard by US tariffs (27.5% assumed for full quarter) and d

Tata Steel's Q1 FY26 consolidated revenue stood at INR 53,178 crore with EBITDA of INR 7,480 crore, driven by cost transformation savings of INR 29 billion across geographies. India standalone EBITDA margin improved to ~

TCS reported Q1 FY26 revenue of INR 63,437 crore (+1.3% YoY) but constant currency revenue declined 3.1% YoY, reflecting intensified discretionary spending delays and project deferrals. Operating margin was 24.5%, down Y

Tech Mahindra reported Q1 FY26 revenue of INR 13,351 crore, up 2.7% YoY, with PAT of INR 1,141 crore, up 30% YoY. EBIT margin expanded 60 bps QoQ to 11.1%, marking the seventh consecutive quarter of margin expansion. Gro

Federal Bank reported a mixed Q1 FY26 with net interest income of INR 2,337 crore (+2% YoY) and NIM at 2.94%, down due to 100 bps rate cuts. Core fee income grew 20% YoY to INR 1,113 crore, driven by fee reforms and weal

IHCL delivered a record 13th consecutive quarter of growth, with consolidated revenue rising 32% YoY to INR 2,102 crore and EBITDA up 29% to INR 637 crore, yielding a 30.3% margin. PAT grew 19% to INR 296 crore. Performa

Titan delivered a strong Q1 FY26 across all segments, with jewelry sustaining market share and watches posting exceptional growth driven by premiumization and mass customization. The studded jewelry segment grew 11% (exc

UltraTech Cement reported consolidated volume growth of 9.7% YoY, including KSORAM. The company achieved a 6.5% growth in UltraTech brand volumes, with pricing improving 2.2% sequentially. Management highlighted strong d

Varun Beverages delivered a strong Q1 CY2026 with consolidated revenue up 18.1% YoY to INR 6,574 crore and EBITDA up 21% YoY to INR 1,529 crore, driven by volume growth of 16.3% (India +14.4%, international +21.4%). EBIT

Wipro's Q1 FY26 IT services revenue declined 2.3% YoY in constant currency to $2.59B, within guidance. EBITDA margin expanded 80bps YoY to 17.3% driven by operational excellence. Net income grew 10.9% YoY despite a INR 2