News Highly Sensitive to Stock Price: Jan 29

Gland Pharma

Revenue for the quarter increased 22.5% YoY at Rs 1695.4 crore as against estimate of Rs 1585cr. EBITDA was up 21% YoY at Rs 435cr. Operating margin contracted 35bps YoY at 25.6% as compared to expectation of 23.8%. Net profit was up 27.5% YoY at Rs 261.5cr. It included one-off exceptional loss of Rs 24.4cr in the quarter. Other Income was up 8% YoY at Rs 63.2cr. R&D expenses were at Rs 65 crore in Q3 FY26, or 5.4% of revenue vs. Rs 43.7 crore or 4.3% of revenue in Q3 FY25. Company filed for nine products and received approval for four ANDAs in the quarter. Company had net cash & equivalents of Rs 2319 crore as of Dec-2025. EPS for the quarter stood at Rs 15.87 and it was at Rs 40.1 in 9MFY26. At CMP, the stock trades at 24x FY28E EPS.

Piramal Pharma

Revenue for the quarter declined 3% YoY at Rs 2140 crore. CDMO business reported 9% decline at Rs 1166 crore. Complex Hospital Generics (CHG) revenue grew 2% YoY at Rs 668 crore. EBITDA was down 32% YoY at Rs 239 crore. Net loss stood at Rs 136 crore as against net profit of Rs 4 crore. Other Income stood at Rs 43 crore vs. Rs 12 crore, a year ago. Q4FY26 is expected to be strong for the company, in-line with historical trend

Garden Reach Shipbuilders & Engineers Ltd. (GRSE) Q3FY26 Result Review

GRSE reported robust revenue and PAT growth on a year on-year basis, along with margin expansion. The company’s order book is strong, and ongoing projects are progressing well. Revenue from Operations increased to Rs. 1896 crore in Q3FY26, registering a growth of 49.2% YoY. EBITDA (excl. other income) stood at Rs. 172 crore in Q3FY26, with an increase of 127.5% YoY. Profit After Tax (PAT) is Rs 171 crore in Q3FY26, registering a growth of 74% YoY, supported by higher other income. Company is confident of ending the current financial year with an order book of around Rs 50,000 crore.

Thyrocare

Revenue for the quarter increased 17.8% YoY at Rs 195.5cr as against estimate of Rs 198cr. Reported EBITDA was up 38.5% YoY at Rs 58cr while ex-ESOP expenses, it was higher by 31% YoY in the quarter. Operating margin was up 440bps YoY at 29.6% as compared to expectation of 29%. Net profit was up 51.8% YoY at Rs 29cr. It included one-off exceptional loss of Rs 6.2cr in the quarter. Other Income was up24.5% YoY at Rs 5cr. Revenue per patient grew 6% YoY at Rs 394. EPS for the quarter stood at Rs 1.81 and it was at Rs 7.26 in 9MFY26. At CMP, the stock trades at 33x FY28E EPS.

Sagility

Revenue for the quarter grew 35.7% YoY at Rs 1971cr. Operating margin contracted 110bps YoY at 25.9%. Net profit was up 23.4% YoY at Rs 267.7cr. It included one off exceptional loss of Rs 32.8cr in the quarter. PBT for the quarter increased 16.7% YoY at Rs 338.5cr. Other Income declined 81% YoY at Rs 8.4cr.

Rainbow Children Hospital

Revenue for the quarter grew 11.9% YoY at Rs 445.5cr. Operating margin was down 70bps YoY at 33%. Net profit was up 5.5% YoY at Rs 72.5cr. Other Income declined 21% YoY at Rs 10.5cr. Company had operational beds at 1758 and occupancy was at 47.2%. ARPOB for the quarter was at Rs 58,362 per day. EPS for the quarter was at Rs 7.14 and it stood at Rs 19.82 for 9MFY26. At CMP, the stock trades at 17.5x FY28E EV/EBITDA

Cochin Shipyard

Revenue for the quarter grew 17.7% YoY at Rs 1350cr. Operating margin was down 680bps YoY at 13.8%. Net profit was down 18.2% YoY at Rs 144.7cr. Other Income increased 52% YoY at Rs 71.2cr

Birlasoft Ltd. Q3FY26 Result Review

Birlasoft’s revenue was inline and net profit was above expectations in Q3FY26. Margins expanded and deal TCV was up 89% QoQ to US$ 202 Mn led by strong order booking. Consolidated revenue grew 1.4% QoQ and it was down 1.1% YoY to Rs 1348 crore. Revenue was up 0.3% QoQinCCterms. EBIT increased 16.4% QoQ and 58% YoY to Rs 225 crore, EBIT margin increased 190bps QoQ to 12.3% in Q3FY26. EBIT margin was at 16.7% in Q3FY25. On YoY basis, employee costs decreased Rs 24 crore. Net profit was at Rs 120 crore in Q3FY26, vs. Rs 116 crore in Q2FY26 andRs 117 crore in Q3FY25.

Lodha Developers

Revenue from operations grew 14.4% to Rs 4,672 crore during the quarter, compared with Rs 4,083 crore in Q3 last year. EBITDA for the quarter increased 8.4% YoY to Rs 1,415 crore from Rs 1,305 crore. Operating margin stood at 30.3%, lower than 32% recorded in the corresponding quarter of FY25. Net profit was up 1.3% to Rs 956.9 crore from Rs 944.4 crore in the year-ago period.

Phoenix Mills

The company reported a healthy performance in the December quarter, with net profit rising 4.2% year-on-year to Rs 275.8 crore from Rs 264.7 crore in the same period last year. Revenue grew 15% to Rs 1,121 crore compared with Rs 975 crore a year ago, while EBITDA increased 18.6% to Rs 655.8 crore from Rs 552.9 crore. Operating margin improved to 58.5% from 56.7% in the year-ago quarter, reflecting better operating efficiency

Somany Ceramics

The company reported a strong improvement in profitability for the December quarter, with net profit jumping 93.5% year-on-year to Rs 18 crore, compared with Rs 9.3 crore in the same period last year, aided by better operating efficiencies and margin expansion. Revenue from operations grew a modest 5.7% YoY to Rs 676.5 crore in Q3, upfrom Rs 640 crore a year ago

Heritage Foods

Heritage Foods reported a 19.8% year-on-year decline in net profit for the third quarter, with profit at Rs 34.5 crore compared with Rs 43 crore in the same period last year. Revenue for the quarter increased 8.2% YoY to Rs 1,119.1 crore from Rs 1,033.9 crore. Operating margin contracted to 5.6% vs. 7.2% last year

V-Guard Industries

V-Guard Industries Ltd reported a mixed set of earnings for the December quarter, with profit declining year-on-year due to a one time labour code impact, even as revenue and operating performance improved. Revenue for the quarter rose 10.6% year-on-year to Rs 1,403.5 crore from Rs 1,268.7 crore, driven primarily by strong volume growth in the electrical segment. It posted a consolidated net profit of Rs 57 crore for Q3, down 5.3% from Rs 60.2 crore in the year-ago period.

ACC

ACC reported revenue of Rs.6,483 cr, up 9% year on year and up 8% quarter on quarter. It reported operating profit of Rs.700 cr. and margin of 11%. Net profit stood at Rs.404 cr from a profit of Rs.1,092 cr in the previous year and a profit of Rs.1,119 cr In previous quarter. The company reported its highest-ever quarterly revenue in Q3FY26, driven by a higher premium product as a percentage of trade sales at 43 per cent. Normalised revenue was up21.7 per cent YoY

Maruti Suzuki

Maruti Suzuki reported a standalone net profit of Rs 3,794 crore for Q3FY26, marking a 4% YoY rise, after labour code impact of Rs 594 crore. Revenue from operations, meanwhile, rose ~29% YoY to Rs 49,891 crore. Operating EBITDA rose 10% YoY to Rs 5,572 crore. Sales volume stood at 6.68 lakh units, increasing 18% YoY.

TVS Motor Company

Revenue for the quarter grew by 37% YoY to Rs 12,476 crore, aided by 27% volume growth. EBITDA increased 51% to Rs 1634 crore and EBITDA margin expanded 120bps to 13.1%. Net profit after labour code impact of Rs 41 crore, grew 52% to Rs 940 crore. EV sales for TVS Motor grewby40% to 1.06 lakh units.

M&M Financial Services

The Company reported a mixed but resilient set of numbers for the December quarter. NII rose a strong 20.6% YoY to Rs 2,304 crore, supported by steady loan growth. Net profit stood at Rs 810 crore, down 10% YoY on account of labour code impact. GNPA/NNPA improved 10/7 bps QoQ to 3.80/1.82%. Business assets grew about 12% to nearly Rs 1.29 lakh crore.

SBI Life Insurance

SBI Life reported ~5% YoY increase in net profit at Rs 577 crore, weighed down by an increase in expenses. Net premium income of the insurer grew by 21.8% to Rs 30,245 crore. The value of new business (VNB) of the insurer grew 22.5% YoY to Rs 2,290 crore. VNB margin improved to 26.6% in Q3FY26 compared to 26.9% in Q3FY25.

Balkrishna Industries

Company’s Q3 net profit fell 15% YoY to Rs 382 crore, while revenue rose 6.9% to Rs 2,737 crore. Operating performance improved modestly, with EBITDA increasing 7.1% YoY to Rs 643 crore. However, EBITDA margin remained flat at 23.5%. Foreign exchange loss and higher finance cost led to lower profitability in the quarter.

Star Health Insurance

Star Health and Allied Insurance Company reported a 40% decline in net profit at Rs 128 crore. Labour code impact accounted for Rs 16.5 crore. Net written premium increased 22.5% to Rs 4361 crore. Combined Ratio declined 230 bps YoY to 99.8% in 9MFY26.

Pondy Oxide

Revenue for the quarter grew 55% YoY at Rs 776.3cr. Operating profit was up 122% YoY at Rs 57.5cr. Net profit increased 148% YoY at Rs 37.6cr. EPS for the quarter was at Rs 12.3 and it stood at Rs 33.8 for 9MFY26.

HAL

HAL is aiming to start rolling-out semi knock-down Super Jet 100 (SJ100) aircraft in its existing facilities in the next three years. The company aims to achieve 25 per cent of its revenues from the civil aviation vertical in the next ten years from the existing 4-5 per cent.

Bharat Electronics Ltd Q3FY26 Result Review

BEL’s numbers were above expectations in Q3FY26. Consolidated revenue grew by 24% YoY to Rs 7,154 crore in Q3FY26. EBITDA was up by 27.4% on YoY basis to Rs 2,127 crore, supported by better revenue growth. EBITDA margin was at 29.7% in Q3FY26 vs. 28.9% in Q3FY25. The company’s net profit rose 20.4% on YoY basis to Rs 1,580 crore. The order book position of the company as on Jan 01, 2026, stood at Rs 73,015 crore, book to bill stood at 2.8x TTM Sales.

L&T

Consolidated net revenue was up by 10% YoY to Rs 71,450 crore in Q3FY26. EBITDA was up 19% YoY to Rs. 7,417 crore in Q3FY26 and EBITDA margin was 10.4% in Q3FY26 vs. 9.7% in Q3FY25. Net Profit decreased by 4% YoY to Rs 3,824.6 crore in Q3FY26 vs. Rs 3,974 crore in Q3FY25. The order inflow for the quarter ended stood at Rs. 1,35,581 crore, registering a strong growth of 17% YoY. International orders at Rs. 66,848 crore during the quarter constituted 49% of the total.

Indian Oil Corp

Indian Oil Corp anticipates a significant surge in its annual diesel exports, potentially reaching up to 5 million metric tons by 2027 due to expanded refining capacity. The company is increasing its refining capacity to 98 million tons within 18 months and plans to grow its retail fuel station network to over 44,000 locations in the next two years

Acutaas Chemicals

Revenue for the quarter increased 43% YoY at Rs 393.2cr as against estimate of Rs 344cr. EBITDA was up 120% YoY at Rs 150.8cr. Operating margin surged 1350bps YoY at 38.4% as compared to expectation of 32.8%. Gross margin improved 1080bps YoY at 57%. Net profit surged 140% YoY at Rs 108cr. Company derived 86% of revenue from Pharma Intermediates while 14% from Specialty Chemicals. EPS for the quarter stood at Rs 13.1 and it was at Rs 27.3 in 9MFY26. At CMP, the stock trades at 37x FY28E EPS.

Vimta Labs

Revenue for the quarter grew 9.7% YoY at Rs 98.6cr. Operating margin slipped 220bps YoY at 34.6%. Net profit was up 0.6% YoY at Rs 17.6cr. EPS for the quarter stood at Rs 3.94 and it was at Rs 12.6 in 9MFY26. At CMP, the stock trades at 21x FY28E EPS.

Kilburn Engineering

Company has received various LOI/ orders worth Rs. 58.22 crore for Rotary Dryers, Paddle Dryers, Tea Dryers, etc.

L&T

The Heavy Civil Infrastructure business vertical of L&T has won a contract from the Royal Commission of Riyadh City in Saudi Arabia for works pertaining to the extension of the Riyadh Metro. The order is a part of an ultra-mega project won by a consortium of Webuild S.p.A, L&T, Nesma & Partners Contracting, Alstom and IDOM.

Bondada Engineering

Bondada Engineering’s consolidated net profit zoomed 119.1% to Rs 54.19 crore in Q3 FY26 as against Rs 24.73 crore in Q3 FY25. Revenue from operations increased 89.4% year on year (YoY) to Rs 712.3 crore in Q3 FY26

Source: HSL Prime Daily, 29 Jan 2026

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