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Belrise Industries

Overall numbers were better than expectations in the quarter. Revenue for the quarter grew 13.8% YoY at Rs 2353.5cr. EBITDA margin improved 80bps YoY at 12.6%. Net profit was up 81.5% YoY at Rs 133cr. Other Income increased 134% YoY at Rs 26.9cr. Company utilized IPO proceeds to repay debt of Rs 1596 crore, resulting in substantial interest cost savings.

Torrent Power

Revenue grew/declined 9.8% YoY/-0.4%QoQ to Rs 7,806 cr on the back of higher merchant and LNG sales. EBITDA noticed a healthy growth of 24.7%/1.8% YoY/QoQ, while EBITDA margin improved from 16.8% in Q2FY25 to 19.1% YoY on the back of low power and fuel costs. PAT for the quarter grew by 50% YoY and was flat QoQ.

PBT for the quarter was up 42% YoY at Rs 979cr. Other Income declined 37.5% YoY at Rs 78cr.

Company secured Letter of Award from MP Power Management Company Limited for the long-term supply of power from a new 1,600 MW coal-based ultra super critical power plant, at a tariff of Rs 5.829 per kWh.

Earnings per share was at Rs 14.36 in Q2FY26, compared to 10.01 in Q2FY5 and 14.52 in Q1FY26. At a CMP stock is trading at 22.4x TTM EPS.

Zaggle Prepaid Ocean Services

Overall numbers very strong in the quarter. Revenue for the quarter increased 42.4% YoY at Rs 431cr.

Reported EBITDA surged 64.6% YoY at Rs 44cr. Net profit increased 79% YoY at Rs 33.2cr. Other Income increased 151% YoY at Rs 9.3cr. EPS for the quarter stood at Rs 2.47 and it was at Rs 4.4 for H1FY26. At CMP, the stock trades at 35.5x FY27E EPS.

Bikaji Foods

Bikaji Foods reported 13.5% increase in consolidated net profit at Rs 77.67 crore for the second quarter ended September 2025. The company had posted a profit of Rs 68.43 crore for the July September period a year ago. Revenue from operations was at Rs 830.3 crore in September quarter FY26 as against Rs 720.6 crore, a year ago.

Bikaji Foods had a volume growth (in tonnes) of 10.8% on YoY basis. In September quarter, Bikaji’s revenue from Ethnic Snacks was up 4.6%, constituting 59.1% of the overall revenue. Revenue from ‘Packaged Sweets’ grew 32.3% in the quarter, which covered festivals. This segment covered 19.7% of the overall revenue.

Kolte-Patil Developers

Kolte Patil Developers incurred a loss of Rs 10.4 crore in the second quarter of the financial year 2026 (Q2 FY26), compared with a profit of Rs 9.7 crore in Q2 FY25. The company’s revenue from operations declined 55% year-on-year (Y-o-Y) to Rs 138.7 crore.

In Q2 FY26, the company sold an area of 0.86 msf, down 17% Y-o-Y but 2% higher on a Q-o-Q basis. Sales realisations stood at around Rs 7,823 per square foot, up 5% Y-o-Y and 7% Q-o-Q. Collections grew 8% onbothY-o-YandQ-o-Q basis to Rs 596 crore.

AWL Agri

Singapore’s Wilmar International said that its unit has agreed to purchase a 13% stake in India’s AWL Agri Business from Adani Commodities for Rs 4650 crore (US$ 529.04 million). The unit Lence will buy 169 million shares in the consumer goods joint venture between Wilmar and Adani Group, it added.

Biocon

Overall numbers were in-line with expectations in the quarter. Revenue for the quarter grew 20% YoY at Rs 4296 crore. EBITDA increased 22% YoY at Rs 835 crore. Finance cost increased 21% YoY at Rs 272 crore. Net profit stood at Rs 84.5 crore vs. a net loss of Rs 16 crore in Q2FY25. Other Income surged 186% YoY at Rs 93 crore. Biocon Biologics delivered a strong performance in Q2 FY26, achieving 25% year-on-year revenue growth at Rs 2721 crore.

EBITDA was higher by40% YoY at Rs 669 crore. Generics revenue grew 24% YoY at Rs 774 crore. The Generics business performance in the second quarter was driven by robust traction from the recently launched generic formulations, like Liraglutide, Dasatinib, and Sacubitril + Valsartan, across key markets, along with increased sales from the base business. EPS for the quarter stood at Rs 0.65 and it was at Rs 0.9 for H1FY26. At CMP, thestock trades at 28x FY28E EPS.

Parag Milk Foods

Revenue for the quarter increased 15.7% YoY at Rs 1008cr. EBITDA was up 18% YoY at Rs 71.3cr. Net profit increased 56.3% YoY at Rs 45.7cr. PBT for the quarter was up 42% YoY at Rs 50.5cr. Other Income was up10.4% YoY at Rs 18cr.

Ivalue Infosolutions

Revenue for the quarter grew 52% YoY at Rs 329.4 crore. EBITDA was up 53% YoY at Rs 41.1 crore. Net profit was up 57.3% YoY at Rs 29.7 crore on lower taxes.

Gujarat State Petronet Ltd (GSPL) Q2FY26 result highlights

GSPL’s numbers were above expectations in Q2FY26. Standalone net revenue grew 6.2% YoY to Rs 274 crore in Q2FY26. EBITDA was down by 10.2% YoY to Rs 173 crore in Q2FY26, and EBITDA margin slipped to 63.8% in Q2FY26 vs. 74.8% in Q2FY25. Net Profit was down by 2% YoY to Rs 382 crore in Q2FY26, supported by higher other income. Other Income increased to Rs 306 crore in Q2FY26 vs. Rs 294 crore in Q2FY25.

Syrma SGS Tech

Syrma SGS Technology expects a better performance in railways next year. The company is looking for inorganic acquisition in defence space. Export orders have done well in the second quarter.

IOL Chemical & Pharma

Overall numbers were strong in the quarter. Revenue for the quarter increased 8% YoY at Rs 567.5cr. EBITDA margin improved 220bps YoY at 10.1%. Net profit was up 56.7% YoY at Rs 30cr. Other Income increased 7% YoY at Rs 6.9cr. Capex for H1FY26 stood at Rs 65cr. EPS for the quarter stood at Rs 1.02 and it was at Rs 2.18 for H1FY26. At CMP, the stock trades at 16.5x FY27E EPS.

Emcure Pharma

Revenue for the quarter increased 13.4% YoY at Rs 2270cr. EBITDA margin improved 190bps YoY at 21%. Adj. to forex gain, operating margin was up 30bps YoY at 19.35%. Net profit was up 25% YoY at Rs 243.5cr.

Domestic revenue grew 10.6% YoY at Rs 1031 crore. International sales increased 15.8% YoY at Rs 1238 crore. EPS for the quarter stood at Rs 12.85 and it was at Rs 23.8 for H1FY26. At CMP, the stock trades at 25.5x FY27E EPS.

Transrail Lighting

Revenue for the quarter increased 43.4% YoY at Rs 1561cr. EBITDA margin slipped 90bps YoY at 11.8%. Net profit was up 65.2% YoY at Rs 91cr.

Order intake increased YoY by 66% to Rs. 3,740 crore in H1FY26; Un executed orderbook including L1 stands at Rs. 17,799 crore as on September30, 2025.

Hindustan Copper

Hindustan Copper reported revenue of Rs. 718 cr. (39% year on year & 39% rise compared to previous quarter). EBITDA margins improved from 29% to 39% year on year. Also, the company reported a profit of Rs.186 cr as compared to profit of Rs.102 cr year on year.

EID Parry (India)

EID Parry (India) reported revenue of Rs. 11,624 cr (25% year on year & 33% rise compared to previous quarter). EBITDA margin remained constant at 10% year on year. It reported a net profit of Rs.766 cr compared to profit of Rs.592 cr year on year.

Balrampur Chini Mills

Balrampur Chini Mills reported revenue of Rs. 1671 cr (29% year on year & 8% rise compared to previous quarter). EBITDA margin increased from 4% to 7% year on year. Also, the company reported a profit of Rs.54 cr as compared to profit of Rs.67 cr year on year on significantly higher taxes.

MOIL

MOIL reported revenue of Rs. 348 cr (19% year on year & remained constant compared to previous quarter). EBITDA margins increased from 27% to 29% year on year. Also, the company reported a profit of Rs.70 cr compared to profit of Rs.50 cr year on year.

Deccan Cements

Deccan Cements reported revenue of Rs. 140 cr (16% year on year & 7%fall compared to previous quarter). EBITDA margins increased from 2% to 14%year on year. Also, the company reported a profit of Rs.9 cr compared to loss of Rs.4 cr year on year.

PI Industries

Overall result was slightly better than expectations in the quarter. Revenue declined 15.7% YoY at Rs 1872 crore. EBITDA margin improved 60bps YoY at 28.9%. Net profit was down 19.5% YoY at Rs 409.3 crore. Other Income declined 32.5% YoY at Rs 82.5 crore. Company commercialised five new products in Exports and three in Domestic Agri Brands. EPS for the quarter stood at Rs 27 and it was at Rs 53.3 for H1FY26. At CMP, thestock trades at 32x FY27E EPS.

HFCL

HFCL has filed 33 applications in the past four years, seeking patents for innovations that are relevant to 5G or 6G network technologies. The patents filed between 2021 and 2025 are under evaluation by Indian and global patent offices.

J B Chemicals & Pharma

Revenue grew 8.4% YoY at Rs 1,085 crore vs Rs 1,001 crore. EBITDA was up 14.5% at Rs 310 crore. Net Profit was up 19.1% at Rs 208 crore.

Amanta Healthcare

Revenue for the quarter grew 6.2% YoY at Rs 70.9cr. EBITDA margin contracted 15bps YoY at 20.65%. Net profit was down 46.5% YoY at Rs 1.21cr. PBT before exceptional items was up 54.6% YoY at Rs 4.9cr.

EIH Ltd

EIH Ltd reported a 12.4% YoY drop in Q2 net profit to Rs 113.7 crore, even as revenue rose 1.5% to Rs 597.9 crore. EBITDA fell 11.8% to Rs 154.2 crore, with margin narrowing to 25.8% amid cost pressure.

Swiggy

Swiggy, which was earlier piloting its travel and lifestyle concierge service Crew, has now expanded the offering to three metro cities Bengaluru, Mumbai and the National Capital Region of Delhi. The move comes as the company is actively expanding beyond its core business of food delivery and quick commerce.

Atlanta Electricals

Revenue for the quarter increased 17.3% YoY at Rs 317cr. EBITDA margin expanded 180bpsYoY at 17.3%. Net profit was down 6% YoY at Rs 25.3cr on higher taxes and finance cost. Order book stood at Rs 2069 crore as of Sep-2025. Company has a total capacity of 63,060 MVA across five manufacturing facilities as of Sep-2025.

RVNL

Revenue for the quarter grew 5.5% YoY at Rs 5123cr. EBITDA was down 20% YoY at Rs 217cr. Other Income was down 25% YoY at Rs 210.5cr. Net profit was down 19.7% YoY at Rs 230.5cr

Thermax

Revenue declined 5.4% YoY at Rs 2,474 crore. EBITDA was down 38.1% at Rs 172 crore. Net profit declined 39.3% at Rs 120 crore. Other Income was at Rs 85 crore vs. Rs 60 crore, a year ago.

Kirloskar Oil Engines

Standalone revenue stood at Rs 1,604.5 crore growing by 34.3% YoY from Rs. 1,194.3 crore for Q2FY25. KOEL crossed the Rs. 1,500 crore revenue mark for the first time in a quarter achieving the highest ever H1 sales of, Rs. 3,027 crore. EBITDA was up by 29% YoY to Rs 214.4 crore and EBITDA margin stood at 13.4% in Q2FY26 vs. 13.8% in Q2FY25. Net profit stood at Rs 140.8 crore in Q2FY26 vs. Rs 111 crore in Q2FY25 (+27% YoY).

Surya Roshni

Consolidated revenue was up by 20.7% YoY to Rs 1,845 crore in Q2FY26. EBITDA was up 55% YoY to Rs.118 crore in Q2FY26 and EBITDA margin was 6.4% in Q2FY26 vs. 5% in Q2FY25. Net Profit increased by 117% YoY at Rs 74 crore in Q2FY26 vs. Rs 34 crore in Q2FY25.

Source – HDFC Securities, Prime Daily, 12 Nov 2025