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Hello and welcome to our live coverage of Q4 results.
It is a packed earnings day, with at least 15 companies across banking, finance, manufacturing and consumer sectors set to report their January-March quarter numbers. The announcements will also close the books on FY26 and offer an early view of how corporate India is entering FY27.
Investors will track revenue growth, profit trends, margins, asset quality, demand signals and management commentary. Key names on today's watchlist include Axis Bank, IDFC First Bank, RBL Bank, UCO Bank and SBFC Finance. Some companies may also announce dividends, while earnings calls later in the day could set the tone for expectations around FY27 growth amid global uncertainty.
Stay with us for instant updates, key numbers, market reaction and management takeaways through the day.
Reliance Industries' March-quarter earnings missed Street estimates, with the drag coming largely from its energy businesses and softer retail margins. Macquarie called it a “soft print,” pointing to weakness in oil-to-chemicals and upstream operations.
It also flagged a more structural concern — upstream gas EBITDA appears to be in decline, and the brokerage sees incremental downside risk if energy weakness lingers, especially after recent cuts to consensus earnings forecasts.
The bank said it remains focused on improving operational efficiency to support profitability over the medium term. Net interest income optimisation remains a priority, while the net interest margin target has been maintained at 3.80% through business cycles.
Management also expressed confidence in sustaining above‑industry growth, with the chief financial officer stating that Axis Bank aims to grow around 300 basis points faster than the industry over the next three to five years. The bank also expects artificial intelligence to have a meaningful impact on sustainable long‑term growth.
Axis Bank’s management said business momentum remained strong in the March quarter, positioning the bank well to continue gaining market share. The managing director noted that retail loan disbursements were robust, while the bank continued to grow deposits faster than the overall banking system.
CASA balances rose 7% quarter on quarter in Q4, and the cost of deposits declined by 4 basis points, supporting margin stability. Management also pointed out that new‑to‑bank customers are maintaining relatively high balances, reflecting improving deposit quality.
IDFC First Bank reported a 4.9% year-on-year increase in net profit for the fourth quarter of FY26. This was supported by strong growth in net interest income and a sharp reduction in provisions, even as operating profit declined amid pressure on other income.
IDFC First Bank reported steady earnings growth in the fourth quarter, supported by healthy net interest income expansion, even as margins softened marginally year on year.
Asset quality improved sequentially, with gross and net NPAs easing and provisions falling significantly quarter on quarter. Marginal pressure was seen on net interest margin, which slipped to 5.93% from 5.95% last year.
IDFC First Bank (Standalone, YoY)
PepsiCo bottler Varun Beverages Ltd. has announced that its Board of Directors are set to meet next week to consider and approve the financial results for January to March period. In its report, the company will share details about its revenue, profit, margins and other details.
It will also hold an earnings call with investors and analysts to discuss the performance. To note, the company follows a financial year from Jan 1 to Dec 31.
India Cements recorded a strong operational showing in the fourth quarter, with domestic sales volume rising 18% year on year to 3.12 million tonnes, driven by healthy demand across key markets. Capacity utilisation remained robust at 84%, highlighting efficient use of installed capacity during the period.
Net realisations improved by 3.5% on a quarter‑on‑quarter basis, supported by better pricing and market conditions. Reflecting these gains, EBITDA per tonne increased sharply to Rs 497, compared with Rs 305 in Q3FY26.
SBFC Finance delivered a strong Q4FY26 performance, with both net interest income and profit posting sharp year‑on‑year growth. The 30% rise in NII points to healthy loan growth and improved yields, while the corresponding increase in profit indicates effective cost management and operating leverage.
SBFC Finance Q4 (YoY)
India Cements posted a modest year-on-year increase in net revenue for the March quarter, supported by steady volumes.
India Cements Q4 (Standalone)
IDFC First Bank’s results are likely to highlight improving profitability alongside consistent topline growth. The bank is set to report revenue of Rs 7,882.88 crore, supported by net interest income of Rs 5,816.55 crore. Profit is estimated at Rs 604.74 crore, reflecting continued traction in its retail-centric strategy and balance sheet strengthening over recent quarters.
Q4 Estimates:
Pre-provision operating profit declined more than expected as operational efficiency weakened, while operating expenses rose 7% YoY.
Profit growth was impacted by higher provisions, including a one-time provision of Rs 2,001 crore linked to geopolitical uncertainties. Tax expense reversal on Citi consumer business intangibles partly offset the impact.
Asset quality and slippages improved. LCR rose to 117%, while retail loan growth was in line with expectations.
NII increased 7% to Rs 1,671 crore from Rs 1,563 crore.
Gross NPA improved to 1.45% from 1.88% QoQ, while Net NPA declined to 0.39% from 0.55%.
Operating profit rose 10.9% to Rs 955 crore from Rs 861 crore, while provisions stood at Rs 678 crore versus Rs 785 crore YoY and Rs 639 crore QoQ.
Net interest income up 4.7% to Rs 14,457 crore versus Rs 13,811 crore.
Interest income up 4.7% to Rs 32,724 crore versus Rs 31,243 crore.
Operating profit down 6.9% to Rs 10,013 crore versus Rs 10,752 crore.
Provisions up 56.8% to Rs 3,522 crore versus Rs 2,246 crore.
Gross NPA improved to 1.2% versus 1.4%, down 17 basis points QoQ.
Net NPA at 0.4%, improved 5 basis points QoQ.
M&M Financial said its board approved a dividend of Rs 7.5 per share alongside Q4 results announced after Friday market hours.
The company fixed July 13 as the record date.
M&M Financial reported Q4 consolidated earnings after Friday market hours. Net profit rose 105.2% YoY to Rs 938 crore from Rs 457 crore.
Total income increased 13.5% to Rs 5,560 crore. The board also approved a higher borrowing limit of Rs 1.75 lakh crore.
DCB Bank reported Q4 earnings after Friday market hours. Net profit rose 16.1% YoY to Rs 206 crore from Rs 177 crore.
NII increased 17% to Rs 655 crore, while operating profit rose 12% to Rs 342 crore. Gross NPA improved to 2.45% and net NPA improved to 0.89%.
Can Fin Homes said its board approved a dividend of Rs 8 per share along with Q4FY26 results announced after Friday market hours.
The company also appointed Shailesh Kumar Singh as Additional Director and Whole-Time Director, designated as Deputy MD.
Can Fin Homes reported Q4FY26 earnings after Friday market hours. Net profit rose 48.2% YoY to Rs 347 crore from Rs 234 crore.
Net interest income increased 21% to Rs 422 crore. Gross NPA improved to 0.85% from 0.92% QoQ, while net NPA declined to 0.37% from 0.49%.
Axis Bank’s Q4FY26 results are expected to be driven by margin trends, loan mix and liquidity metrics. Margins may face pressure due to loan repricing, even as management had earlier guided for a through-cycle margin of 3.8%.
Investors will track whether the bank maintains its targeted portfolio mix of 58-60% retail loans, 23-25% wholesale loans, and the balance in MSME lending. Liquidity coverage ratio will also remain a key monitorable after new LCR guidelines came into effect.
A pickup in retail unsecured loan growth will be another focus area in the quarter.
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