Q2 FY26 earnings calls.

IndusInd Bank reported a net loss of INR 437 crore in Q2 FY26, driven by accelerated provisions and write-offs in the microfinance portfolio (INR 1,579 crore written off). Core pre-provision operating profit remained sta

Infosys delivered a strong Q2 FY26 with constant currency revenue growth of 2.9% YoY and sequential operating margin expansion of 20 bps to 21%. Large deal TCV was robust at $3.1 billion with 67% net new, and a subsequen

Inox Wind delivered its best-ever Q2 with revenue of INR 1,162 crore (+56% YoY) and EBITDA of INR 271 crore (+48% YoY), driven by strong execution of 202 MW despite monsoon headwinds. The order book stands at 3.2 GW, and

InterGlobe reported Q2 FY26 total income of INR 196B (+10% YoY) and adjusted EBITDA of INR 38B (20% margin, +400bps YoY). Excluding forex, profit was INR 1.04B vs a loss of INR 7.5B last year. However, a sharp rupee depr

IK Health delivered a strong Q2 FY26 with revenue of ₹781 crore (+22% YoY), EBITDA of ₹272 crore (+43% YoY), and PAT of ₹181 crore (+60% YoY). EBITDA margin reached ~35%, ahead of the earlier guided early-to-mid 30s rang

Ion Exchange reported Q2 FY26 consolidated revenue of ₹733.9 crore, up 14% YoY, driven by normalization post-SAP migration and strong growth in engineering (16% YoY) and consumer products (24% YoY). EBITDA was flat at ₹6

IPCA Laboratories reported a strong Q2 FY26 with consolidated EBITDA margin expanding 258 bps YoY to 21.68%, driven by favorable product mix and cost controls. Domestic formulation grew 8% despite GST disruption in Septe

IRB's Q2 FY26 consolidated revenue grew 3% YoY to ₹1,800 crore, while PAT surged 41% to ₹141 crore, driven by strong toll collections (private InvIT per-day toll up 13% YoY to ₹11.23 crore) and lower share of losses. Con

Ivalue Infosolutions reported a record Q2 FY26 with net sales of ₹329 Cr (+52% YoY) and PAT of ₹29.7 Cr (+57% YoY), driven by broad-based growth across all four tech segments, particularly data center infrastructure (+71

J Kumar Infra reported H1 FY26 revenue of ₹2,826 crore, up 10% YoY, with EBITDA margin of 14.6% (flat YoY). PAT grew 10% to ₹195 crore. The order book stood at ₹20,160 crore as of September 2025. Management revised FY26

Jain Resource Recycling delivered a strong Q2 FY26 with revenue of ₹2,114 crore (+52% YoY), EBITDA of ₹160 crore (+83% YoY), and PAT of ₹99 crore (+88% YoY). EBITDA margin expanded to 7.6% driven by volume growth in lead

JB Pharma delivered a solid Q2 FY26 with revenue of 1085 crores (+8% YoY), EBITDA of 319 crores (+12% YoY), and PAT of 208 crores (+19% YoY). Domestic business grew 9% YoY to 644 crores, outpacing IPM growth by 3-4 perce

Jindal Saw reported a sharp decline in Q2 FY26 consolidated performance, with revenue falling 23.9% YoY to ₹4,264 crore and EBITDA dropping 48.9% to ₹482 crore, reflecting severe operational headwinds. The primary driver

Jindal Steel's Q2 FY26 results were impacted by planned shutdowns and a prolonged monsoon, with consolidated gross revenue falling 6% QoQ to INR 13,555 crore and adjusted EBITDA at INR 1,875 crore (INR 10,010/ton). The q

Jio Financial Services reported a strong Q2 FY26 with consolidated total income of INR 1,002 crores, up 44% YoY, driven by robust growth across lending, payments, and asset management. Net income from business surged 5X

JK Cement reported Q2 FY26 standalone revenue of ₹2,859 crore (+19% YoY) and EBITDA of ₹440 crore (+62% YoY), with EBITDA margin expanding 440 bps YoY to 15.9%. The strong YoY performance was driven by lower base and cos

JSW Steel reported a strong Q2 FY26 with consolidated revenue of INR 45,152 crore and adjusted EBITDA of INR 7,849 crore (17.4% margin). PAT surged to INR 1,646 crore from INR 404 crore a year ago. The quarter saw record

Kalyan Jewellers delivered a strong Q2 FY26 with consolidated revenue of ₹7,856 crore (+30% YoY) and PAT of ₹261 crore (+100% YoY), driven by robust same-store sales growth of 30%+ during the festive period and continued

KFin Tech delivered a solid Q2 FY26 with revenue of INR 309 crore (+10.3% YoY) and EBITDA margin of 43.9%, driven by broad-based growth across domestic mutual funds (+10.2%), issuer solutions (+13.4%), and international

Kotak Mahindra Bank reported a standalone PAT of INR 3,253 crore for Q2 FY26, with NIM at 4.54% and credit costs declining to 79 bps from 93 bps QoQ. Advances grew 16% YoY and deposits 15% YoY, with CASA ratio improving

L&T reported a strong Q2 FY26 with group revenues of INR 68,000 crore (+10% YoY) and PAT of INR 3,900 crore (+16% YoY). Order inflows surged 45% YoY to INR 1,158 billion, driven by ultra-mega hydrocarbon orders in the Mi

M&M delivered a strong Q2 FY26 with consolidated revenue up 22% YoY and operating PAT up 28% YoY, driven by broad-based outperformance across auto, farm, and financial services. Farm profits surged 54% YoY on 32% volume

Maruti Suzuki reported Q2 FY26 net sales of INR 40,130 crore (+12.8% YoY) and net profit of INR 3,290 crore (+7.5% YoY). Domestic volumes declined 5.1% due to pre-GST cut deferrals, but exports surged 42.2% to 110,487 un

NTPC reported a steady Q2 FY26 with standalone PAT of INR 4,653 crore, nearly flat YoY. Group PAT rose 4% to INR 11,334 crore in H1. The company achieved record capacity addition of 5,359 MW in 7 months, with group capac

ONGC's consolidated PAT rose 28.19% YoY to INR 12,615 crore in Q2 FY26, driven by strong subsidiary performance from HPCL and MRPL. Standalone PAT fell 17.8% to INR 9,848 crore due to lower crude oil realizations ($67.34

PowerGrid reported H1 FY26 total income of INR 23,115 crore, EBITDA of INR 19,109 crore, and PAT of INR 7,197 crore. Revenue growth was muted due to the transition from RTM to TBCB projects, where tariff recognition diff

Reliance Industries delivered a strong Q2 FY26 with consolidated EBITDA crossing ₹50,000 crore (up 15% YoY) and PAT at ₹22,100 crore (up 14% YoY), driven by robust performance across all segments. Jio Platforms saw 18% E

SBI Life reported a solid H1 FY26 with PAT of INR 10.89 billion (+4% YoY) and VNB margin expansion of 98 bps to 27.8%, driven by a strategic shift toward protection and non-par savings products. Individual rated NBP grew

SBI delivered a strong Q2 FY26 with domestic NIM improving 7 bps QoQ to 3.09%, driven by disciplined liability management and operating leverage. Credit growth reversed negative trend to 7.1% QoQ, with a robust corporate

Sun Pharma reported a solid Q2 FY26 with consolidated revenue of INR 14,405 crore (+8.6% YoY) and EBITDA of INR 4,527 crore (+14.9% YoY), with EBITDA margin expanding 170 bps YoY to 31.3%. Growth was driven by India form

Tata Consumer delivered a strong Q2 FY26 with consolidated revenue growth of 18% to ~INR 5,000 crore, driven by 14% underlying volume growth in India branded business. India tea and salt posted double-digit growth for th

Tata Motors Q2FY26 was severely impacted by a JLR cyber incident that shut down systems for most of September, causing a 24% revenue drop and a PBT loss of INR 5,500 crore. JLR wholesales fell to 66,000 units, with an EB

Tata Steel reported consolidated revenue of INR 58,689 crore for Q2 FY26, up 10% QoQ, driven by strong volume growth in India and cost transformation savings of INR 2,561 crore during the quarter. India standalone EBITDA

TCS delivered a solid Q2 FY26 with revenue of INR 65,799 crore (+2.4% YoY, +0.8% CC QoQ) and operating margin of 25.2% (+70bps QoQ). Growth was broad-based across verticals and geographies, led by India and emerging mark

Tech Mahindra reported Q2 FY26 revenue of INR 13,995 crore, up 5.1% YoY, with PAT of INR 1,194 crore (+28.2% YoY). EBIT margin expanded 108bps to 12.1%, marking the eighth consecutive quarter of improvement. Growth was b

Federal Bank reported a solid Q2 FY26 with NIM improving 12 bps QoQ to 3.06%, driven by a 19 bps reduction in deposit costs and a 120 bps YoY improvement in average CASA ratio. Fee income grew 13% QoQ, pushing the fee-to

IHCL delivered a 14th consecutive quarter of record performance with consolidated revenue of ₹2,124 crore (+12% YoY) and EBITDA of ₹653 crore (+16% YoY), yielding a 30.8% margin (+90bps). PAT grew 15% to ₹285 crore. Grow

IHCL delivered a 14th consecutive record quarter with consolidated revenue of ₹2,124 crore (+12% YoY), EBITDA of ₹653 crore (+16% YoY), and PAT of ₹285 crore (+15% YoY). EBITDA margin expanded 90 bps to 30.8% despite ren

Titan reported a satisfying Q2 FY26 with strong growth across businesses. Jewellery division saw buyer growth improve during festive season, driven by a powerful gold exchange campaign and lower-caratage introductions. S

UltraTech Cement reported a solid Q2 FY26 with consolidated sales volume exceeding 31 million tons, driven by strong demand in rural markets (13% growth) and successful brand conversion of acquired assets (ICL 31%, Kesor

Wipro's Q2 FY26 IT services revenue was $2.6B, with sequential growth of 0.3% CC but a YoY decline of 2.6%. Adjusted operating margin improved 40bps YoY to 17.2%, though reported margin was 16.7% due to a one-off bad deb