Q3 Results Highlights: Torrent Pharma Declared Rs 29 Dividend; Ola Electric Net Loss Narrowed; NBCC Profit Jumped

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Titagarh Rail Q3FY26 (CONS)

• Net profit down 23.5% at Rs 48 crore versus Rs 62.8 crore YoY
• Revenue down 7.8% at Rs 832 crore versus Rs 902 crore YoY
• EBITDA down 8% at Rs 92 crore versus Rs 100 crore YoY
• EBITDA margin flat at 11.1% YoY

Azad Engineering Q3FY26 (Cons, YoY)

• Net profit up 44.4% at Rs 34.5 crore versus Rs 23.9 crore YoY
• Revenue up 31.8% at Rs 159 crore versus Rs 120 crore YoY
• EBITDA up 45.7% at Rs 62.2 crore versus Rs 42.7 crore YoY
• EBITDA margin at 39.2% versus 35.5% YoY

CE Info Systems Q3 (Cons, QoQ)

• Net profit up 1.4% at Rs 18.8 crore versus Rs 18.5 crore QoQ
• Revenue down 17.7% at Rs 93.7 crore versus Rs 114 crore QoQ
• EBIT down 5.5% at Rs 19.1 crore versus Rs 20.2 crore QoQ
• EBIT margin at 20.4% versus 17.7% QoQ

Fortis Healthcare Q3 (Cons, YoY)

• Net profit down 21.9% at Rs 194 crore versus Rs 248 crore YoY
• Revenue up 17.5% at Rs 2,265 crore versus Rs 1,928 crore YoY
• EBITDA up 34.8% at Rs 506 crore versus Rs 375 crore YoY
• EBITDA margin at 22.3% versus 19.5% YoY

KFin Tech Q3 (Cons, QoQ)

• Net profit down 1.5% at Rs 91.9 crore versus Rs 93.3 crore QoQ
• Revenue up 19.9% at Rs 371 crore versus Rs 309 crore QoQ
• EBITDA up 11.7% at Rs 152 crore versus Rs 136 crore QoQ
• EBITDA margin at 40.9% versus 43.9% QoQ

GMDC Q3FY26 (Cons, QoQ)

• Net profit down 71.4% at Rs 133 crore versus Rs 466 crore QoQ
• Revenue up 9.8% at Rs 579 crore versus Rs 527 crore QoQ
• EBITDA up 45.3% at Rs 101 crore versus Rs 69.5 crore QoQ
• EBITDA margin at 17.4% versus 13.2% QoQ

Indigo Paints Q3FY26 (Cons, YoY)

• Net profit up 1% at Rs 36.4 crore versus Rs 36 crore YoY
• Revenue up 4.7% at Rs 359 crore versus Rs 343 crore YoY
• EBITDA up 19.5% at Rs 68.3 crore versus Rs 57.2 crore YoY
• EBITDA margin at 19% versus 16.7% YoY

National Fertilizers Q3FY26 (CONS)

• Net profit at Rs 135 crore versus Rs 45.8 crore YoY
• Revenue up 17.3% at Rs 6,870 crore versus Rs 5,856 crore YoY
• EBITDA at Rs 296 crore versus Rs 146 crore YoY
• EBITDA margin at 4.3% versus 2.5% YoY

EMS Q3 (Cons, YoY)

• Revenue down 18.3% at Rs 200 crore versus Rs 245 crore YoY
• Net profit down 62.7% at Rs 18.8 crore versus Rs 50.5 crore YoY
• EBITDA down 56.8% at Rs 30.7 crore versus Rs 71.1 crore YoY
• EBITDA margin at 15.3% versus 29% YoY

Brainbees Solutions Q3 (Cons, YoY)

• Net loss at Rs 28.4 crore versus loss of Rs 7.8 crore YoY
• Revenue up 11.6% at Rs 2,424 crore versus Rs 2,172 crore YoY
• EBITDA down 10.1% at Rs 97 crore versus Rs 108 crore YoY
• EBITDA margin at 4% versus 5% YoY
• One-time cost of Rs 16.3 crore in Q3

Bombay Burmah Trading - Q3FY26 (Cons, YoY)

• Net profit down 6.7% at Rs 316 crore versus Rs 339 crore YoY
• Revenue up 8.1% at Rs 5,066 crore versus Rs 4,685 crore YoY
• EBITDA up 8.8% at Rs 950 crore versus Rs 873 crore YoY
• EBITDA margin at 18.8% versus 18.6% YoY

To pay interim dividend of Rs 17 per share
Re-appoints Ness N Wadia as MD for 5 years

ITI Q3FY26 (Cons, YoY)

• Net loss at Rs 25.3 crore versus loss of Rs 48.9 crore YoY
• Revenue down 50.3% at Rs 515 crore versus Rs 1,035 crore YoY
• EBITDA at Rs 25.3 crore versus loss of Rs 10.5 crore YoY
• EBITDA margin at 4.9% YoY

Crisil Q3FY26 (Cons, YoY)

• Net profit up 7.5% at Rs 242 crore versus Rs 225 crore YoY
• Total income up 17.5% at Rs 1,109 crore versus Rs 943 crore YoY

To Pay Final Dividend Of Rs 28 per share 
Reappoints Amish Mehta As MD, CEO for 3 years
Reappoints Amish Mehta As MD, CEO from Oct. 1

Torrent Pharma Q3FY26 (Cons, YoY)

• Net profit up 26.2% at Rs 635 crore versus Rs 503 crore YoY
• Revenue up 17.6% at Rs 3,303 crore versus Rs 2,809 crore YoY
• EBITDA up 19% at Rs 1,088 crore versus Rs 914 crore YoY
• EBITDA margin at 32.9% versus 32.5% YoY

To pay interim dividend of Rs 29 per share

EPL Q3FY26 (Cons, YoY)

• Net profit down 12.6% at Rs 81.7 crore versus Rs 93.5 crore YoY
• Revenue up 13.3% at Rs 1,149 crore versus Rs 1,014 crore YoY
• EBITDA up 14.5% at Rs 231 crore versus Rs 202 crore YoY
• EBITDA margin at 20.1% versus 19.9% YoY

Inox Wind Q3FY26 Highlights (CONS)

• Net profit flat at Rs 117 crore versus Rs 117 crore YoY
• Revenue up 32.5% at Rs 1,207 crore versus Rs 911 crore YoY
• EBITDA up 38.2% at Rs 282 crore versus Rs 204 crore YoY
• EBITDA margin at 23.3% versus 22.4% YoY

Ola Electric Q3FY26 Highlights (Cons, YoY)

• Net loss at Rs 487 crore versus loss of Rs 564 crore YoY
• Revenue down 55% at Rs 470 crore versus Rs 1,045 crore YoY
• EBITDA loss at Rs 271 crore versus Rs 460 crore EBITDA loss YoY

Inox Green Q3FY26 (Cons)

• Net profit at Rs 24.7 crore versus Rs 4.1 crore YoY
• Revenue up 33.8% at Rs 81.8 crore versus Rs 61.1 crore YoY
• EBITDA margin at 27.8% versus 25.5% YoY
• EBITDA up 45.6% at Rs 22.7 crore versus Rs 15.6 crore YoY

NBCC Q3FY26 (CONS)

• Net profit up 39.4% at Rs 193 crore versus Rs 138 crore YoY
• Revenue up 7.6% at Rs 3,022 crore versus Rs 2,809 crore YoY
• EBITDA down 21% at Rs 114 crore versus Rs 144 crore YoY
• EBITDA margin at 3.8% versus 5.1% YoY

Vijaya Diagnostic Q3 Highlights (Consolidated, YoY)

• Revenue up 21.4% at Rs 205 crore versus Rs 169 crore.
• EBITDA up 28.2% at Rs 86.1 crore versus Rs 67.1 crore.
• EBITDA margin at 41.9% versus 39.7%.
• Net profit up 22.3% at Rs 43.2 crore versus Rs 35.3 crore.

Goodluck India Q3 Highlights (Consolidated, YoY)

• Revenue up 10.1% at Rs 1,037 crore versus Rs 942 crore.
• EBITDA up 11.2% at Rs 108.1 crore versus Rs 97.2 crore.
• EBITDA margin at 10.4% versus 10.3%.
• Net profit up 6.5% at Rs 43.6 crore versus Rs 41 crore.

BASF India Q3 Highlights (Consolidated, YoY)

Revenue up 6.3% at Rs 3,863 crore versus Rs 3,635 crore.

EBITDA flat at Rs 170 crore 

EBITDA margin at 4.4% versus 4.7%.

Net profit up 0.9% at Rs 106 crore versus Rs 105 crore.

Siemens Energy Q3 Highlights (YoY)

• Revenue up 26% at Rs 1,911 crore versus Rs 1,517 crore 
• EBITDA up 37.4% at Rs 461 crore versus Rs 335 crore 
• EBITDA margin at 24.1% versus 22.1%.
• Net profit up 35% at Rs 313 crore versus Rs 232 crore 
• Company reported a one-time loss of Rs 51.9 crore due to new labour codes.

Alkem Labs Q3 Highlights (Consolidated, YoY)

• Revenue up 10.7% at Rs 3,737 crore versus Rs 3,374 crore.
• EBITDA up 9% at Rs 828 crore versus Rs 759 crore.
• EBITDA margin at 22.2% versus 22.5%.
• Net profit up 1.6% at Rs 636 crore versus Rs 626 crore.
• Company reported a one-time loss of Rs 52.8 crore due to new labour codes.
• Company announced an interim dividend of Rs 43 per share.

Ipca Labs Q3 Highlights (Consolidated, YoY)

• Revenue up 6.6% at Rs 2,393 crore versus Rs 2,245 crore.
• EBITDA up 15.2% at Rs 533 crore versus Rs 463 crore.
• EBITDA margin at 22.3% versus 20.6%.
• Net profit up 31.5% at Rs 326 crore versus Rs 248 crore.

Jamna Auto Q3 Highlights (Consolidated, YoY)

• Revenue up 18.7% at Rs 668 crore versus Rs 562 crore.
• EBITDA up 47.6% at Rs 114 crore versus Rs 77.1 crore.
• EBITDA margin at 17.1% versus 13.7%.
• Net profit up 32.9% at Rs 58.2 crore versus Rs 43.8 crore.

Blue Jet Healthcare Q3 Highlights (YoY)

• Revenue down 39.6% at Rs 192 crore versus Rs 318 crore 
• EBITDA down 64.5% at Rs 46.9 crore versus Rs 132 crore 
• EBITDA margin at 24.3% versus 41.5%.
• Net profit down 59.4% at Rs 40.2 crore versus Rs 99 crore 

Eris Lifesciences Q3 Highlights (Consolidated, YoY)

• Revenue up 11% at Rs 807 crore versus Rs 727 crore.
• EBITDA up 12.5% at Rs 282 crore versus Rs 250 crore.
• EBITDA margin at 34.9% versus 34.4%.
• Net profit up 19.1% at Rs 99.7 crore versus Rs 83.8 crore.

Kirloskar Industries Q3 Highlights (Consolidated, YoY)

• Revenue up 0.6% at Rs 1,624 crore versus Rs 1,614 crore.
• EBITDA up 6.8% at Rs 184 crore versus Rs 172 crore.
• EBITDA margin at 11.3% versus 10.7%.
• Net profit down 15.4% at Rs 20.3 crore versus Rs 24 crore.
• Company reported a one-time loss of Rs 19.4 crore in Q3.

Info Edge Q3 Highlights (Consolidated, QoQ)

• Revenue up 1.7% at Rs 819 crore versus Rs 805 crore.
• EBIT up 6% at Rs 264 crore versus Rs 249 crore.
• EBIT margin at 32.2% versus 30.9%.
• Net profit down 14.1% at Rs 272 crore versus Rs 316 crore.
• Company reported a one-time loss of Rs 51.9 crore in Q3.
• Company announced an interim dividend of Rs 2.40 per share

GS on Honasa Consumer

• Maintain Neutral; Hike TP to Rs 330 from Rs 315
• Q3: Strong beat driven by growth and cost efficiencies
• Earnings beat driven by stronger growth and lower than expected “other expenses”
• Younger brands Focus categories driving the growth recovery
• Offline channel revamp showing results

Citi on Coal India
Maintain Neutral | Target Price raised to Rs 415 (from Rs 370)

• Q3 volumes and blended realisations declined YoY

• Next wage revision due in July 2026

• Volume outlook remains muted; e-auction price upside seen as limited amid elevated inventories

• Valuations provide downside support, but near-term upside triggers remain unclear

Honda India Q3 Highlights (YoY)

• Revenue up 32.4% at Rs 270 crore versus Rs 204 crore 
• EBITDA up 53.8% at Rs 32 crore versus Rs 20.8 crore 
• EBITDA margin at 11.8% versus 10.2%.
• Net profit down 12.7% at Rs 16.7 crore versus Rs 19.1 crore

HSBC on Hindalco
Maintain Buy | Target Price cut to Rs 1,210 (from Rs 1,240)

• Strong underlying Q3 performance; Oswego impact seen as one-off

• Core earnings remain robust with further improvement expected

• Net debt spike largely due to higher India working capital, likely to reverse

• South32’s aluminium production cut underscores tightening global market

Jefferies on Hindalco
Maintain Hold | Target Price raised to Rs 890 (from Rs 855)

• Weak Dec-quarter with concerns around Novelis

• India aluminium business underperformed expectations

• FY27–28 EPS raised by ~6% on higher aluminium price assumptions

• Multiple fire incidents and rising debt cloud Novelis outlook

Citi on Hindalco
Downgrade to Neutral (from Buy) | Target Price raised to Rs 1,000 (from Rs 920)

• Structural aluminium bull case tempered by leverage concerns

• Await clarity on insurance recovery from Oswego fires

• Cash flow impact seen higher than earlier estimates

• Novelis net debt/EBITDA expected to rise to ~4.5x by FY27 (from 3.7x)

Hello and welcome to our live coverage of the Q3FY26 earnings rush on Feb. 13. I’m Anas, and I’ll be taking you through all the key results, management commentary and market reaction as more than 660 companies line up to report their October–December quarter numbers today.