News Highly Sensitive to Stock Price

IRCON International

Revenue down 19.2% at Rs 1,977 Crore vs Rs 2,448 Crore. EBITDA was down 29.7% at Rs 141 Crore vs Rs 201 Crore. Operating margin at 7.1% vs 8.2%. Net profit declined 32.7% YoY at Rs 139 Crore. Total order book as on 30.09.2025 stands at Rs 23,865 crore.

Cohance Lifesciences

Overall result was weak in the quarter. Revenue for the quarter declined 8% YoY at Rs 555.6cr as against estimate of Rs 635cr. Operating margin slipped 1180bps YoY at 22.1% as compared to expectation of 27.8%. Net profit was down46.5% YoYat Rs 74cr.

Pharma destocking in some key molecules and delayed reloads of a few Phase 2-3 molecules: affecting near term growth.

Given the current challenges, the company expects FY26 to be flattish in terms of revenue.

Company should be back on track from FY27 onwards. Management maintained mid-longer guidance of revenue of US$ 1bn or ~Rs 8500 crore with mid 30% EBITDA margin given investments and building blocks of the business.

EPS for the quarter stood at Rs 1.93 and it was at Rs 3.2 for H1FY26. At CMP, the stock trades at 41.5x FY27E EPS.

GNFC

Overall result was strong in the quarter. Revenue for the quarter grew 2.7% YoY at Rs 1968cr. Operating profit surged 106% YoY at Rs 185cr. Net profit increased 70.5% YoY at Rs 179cr. Other Income was up 3.3% YoY at Rs 127cr. In case of TDI, GoI has extended the ending period of anti dumpingdutyfrom Dec-2025 to March-2026. EPS for the quarter stood at Rs 12.18 and it was at Rs 17.82 for H1FY26. At CMP, the stock trades at 12x FY26E EPS.

Indraprastha Gas Ltd (IGL) Q2FY26 results: Highlights

IGL’s numbers were below expectations in Q2FY26, profitability was impacted due to the higher costs of natural gas resulting from the lower APM gas allocation. Standalone net revenue was up by 8.9% YoY to Rs 4,023 crore in Q2FY26.

EBITDA was down by 16.7% YoY to Rs 443 crore in Q2FY26, and EBITDA margin slipped to 11.1% in Q2FY26 vs. 14.4% in Q2FY25. Net Profit was also down by 13.6% YoY to Rs 373 crore in Q2FY26 amid lower APM gas allocation. PAT margin was increased to 9.3% in Q2FY26 vs. 9.1% in Q2FY25.

Hindustan Aeronautics Ltd (HAL) Q2FY26 results: Highlights

HAL’s numbers were inline with estimates in Q2FY26. Its revenue stood at Rs 6,629 crore in Q2FY26, grew 10.9% YoY. The company’s EBITDA (excl. other income) stood at Rs 1,529 crore, EBITDA decreased by 5% YoY.

EBITDA margin was at 23.5% in Q2FY26 vs. 27.4% in Q2FY25. The company’s net profit rose by 10.5% YoY to Rs 1669 in Q2FY26. Other income was at Rs 889 crore in Q2FY26 vs. Rs 544 crore in Q2FY25. Net profit margin stood at 25.2% in Q2FY26 vs. 25.3% in Q2FY25.

Cochin Shipyard Q2FY26 results: Highlights

Revenue was largely flat, with a marginal decline of 2.2% at Rs 1,119 crore vs. Rs 1,143 crore. EBITDA was down 62.7% at Rs 73.6 crore versus Rs 197 crore. Margin narrowed sharply to 6.6% versus 17.3%. Net Profit was down by 43.1% at Rs 108 crore versus Rs 189 crore.

Entero Healthcare

Overall performance was slightly better than expectations for the quarter. Revenue for the quarter increased 20.8% YoY at Rs 1571cr as against estimate of Rs 1554cr. Operating margin improved 68bps YoY and 38bpsQoQ at 3.95% as against expectation of 3.8%. Net profit was up 34% YoY at Rs 31.6cr. Other Income was down 57.5% YoY at Rs 4.8cr.

Entero announced that it would acquire 51% stake in the company in the range of Rs 210-230 crore.

Anand Chemiceutics is inter-alia engaged in the business of wholesale distribution of medical devices and other allied products. It had reported revenue of Rs 475 crore in FY25. EPS for the quarter stood at Rs 7.25 and it stood at Rs 13.6 for H1FY26. At CMP, the stock trades at 31x FY27E EPS.

Ritco Logistics

Ritco Logistics reported revenue of Rs. 360 cr. (29% year on year & 2% rise compared to previous quarter). EBITDA margins remained constant at 8% year on year. Company reported a profit of Rs.9.4 cr as compared to profit of Rs.11 cr year on year.

Tata Steel

Tata Steel reported revenue of Rs. 58,689 cr (9% year on year & 10% rise compared to previous quarter). EBITDA margins improved from 14% to 15% year on year. Also, the company reported a profit of Rs.3183 cr as compared to profit of Rs.759 cr year on year. The bottom line has beaten consensus estimates while revenue is in line with estimates.

Data Patterns

Revenue for the quarter increased 237.8% YoY at Rs 307.5 crore. EBITDA was up 100% YoY at Rs 68.5 crore. Net profit was higher by 62.5% YoY at Rs 49.2 crore. Order book as on date at Rs 1,286.98 crore including orders received and negotiated at Rs 552 crore.

Deepak Nitrite

Revenue down 6.4% at Rs 1,902 Crore. EBITDA was down 31.4% at Rs 204 Crore. Operating margin stood at 10.7% vs. 14.6%. Net Profit declined 39% YoY at Rs 119 Crore.

Travel Food Services

Revenue down 29% YoY at Rs 356 Crore vs Rs 500 Crore. EBITDA was down 15.5% at Rs 135 Crore vs Rs 160 Crore. Net Profit declined 10.6% YoY at Rs 95.7 Crore.

Galaxy Surfactants

Revenue up 24.8% at Rs 1,326 Crore. EBITDA was down 13.4% at Rs 111 Crore. Operating margin at 8.3% vs 12%. Net profit declined 21.5% YoY at Rs 66.5 Crore.

HCG

Overall result was in-line with expectations in the quarter. Revenue for the quarter grew 16.9% YoY at Rs 647cr as against estimate of Rs 650cr. Operating margin improved 60bps YoY at 19.1% as compared to expectation of 18.3%. Net profit was down 10% YoY at Rs 16.2cr. Other Income declined 76% YoY at Rs 2.65cr. Overall ARPOB remained flat YoY at Rs 44,355 per day. Net debt excl. capital lease stood at Rs 682 crore. EPS for the quarter stood at Rs 1.16 and it was at Rs 1.49 for H1FY26. At CMP, the stock trades at 20.5x FY27E EV/EBITDA.

Lupin Ltd.

Lupin Limited announced that it has received the Establishment Inspection Report (EIR) from the United States Food and Drug Administration (US FDA) for its Chhatrapati Sambhajinagar (Aurangabad) facility, following a product-specific Pre-Approval Inspection from September 1 to September5, 2025.

Asian Paints

Asian Paints reported 43% YoY jump in consolidated net profit to ₹993.6 crore for the second quarter of the financial year 2025–26 (Q2 FY26), driven by strong demand from both urban and rural markets and improved cost efficiencies. The company had reported a profit of Rs 694.6 crore in Q2FY25. The company’s revenue from sales stood at Rs 8,513.7 crore, up 6.4% YoY.

The company saw an improvement in our domestic decorative business with a double-digit volume growth of 10.9% and a 6% increase in value, despite the challenges posed by an extensive and prolonged monsoon.

Jyothy Labs

Jyothy Labs reported a decline of 16.4% in its consolidated net profit to Rs 87.76 crore in the September quarter of FY26. It had posted a consolidated net profit of Rs 104.9 crore in the July-September quarter a year ago. Jyothy Labs’ revenue from operations was up marginally at Rs 736.1 crore in the September quarter of FY26. It was at Rs 733.1 crore in thecorresponding quarter a year ago

Goldiam International

Consolidated Revenue from operations stood at Rs. 193 cr; up by 40.8% YoY, despite tarrif-related headwinds. EBITDA grew 25.6% YoY. PAT growth came in at 41.7% YoY. ORIGEM now operates 11 stores across Mumbai, Noida, and Bengaluru. ORIGEM revenue stood at Rs 2.8 cr in Q2FY26.

Prestige Estates

The company reported a 124% YoY surge in Q2FY26 net profit to Rs 430 crore, driven by strong margins. Revenue rose 5.5% to Rs 2,431 crore, while EBITDA jumped 44.2% to Rs 910 crore with margin at 37.4%.

Supriya Lifescience

Overall result was in-line with expectations for the quarter. Revenue for the quarter increased 20.3% YoY at Rs 199.8cr as against estimate of Rs 189cr. Operating margin contracted 260bps YoY at 36.4% as compared to expectation of 35%. Net profit was up 9.3% YoY at Rs 50.4cr.

EPS for the quarter stood at Rs 6.27 and it stood at Rs 10.6 for H1FY26. At CMP, the stock trades at 26x FY27E EPS.

Honasa Consumer

Revenue grew 16.5% at Rs 538 crore. EBITDA was at Rs 47.6 crore vs a loss of Rs 30.8 crore. Net Profit stood at Rs 39.2 crore vs. loss of Rs 18.5 crore.

Advanced Enzyme Technologies

Overall performance was strong for the quarter. Revenue for the quarter increased 26.4% YoY at Rs 184.5cr as against estimate of Rs 177cr. Operating margin improved 350bps YoY at 32.5%. Net profit was up 32% YoY at Rs 43.3cr. Other Income increased 7% YoY at Rs 10.3cr.

Human nutrition revenue grew 22% YoY at Rs 121cr. Bio-processing business increased 52% YoY at Rs 25.5cr. Animal Nutrition revenue grew 6% YoY at Rs 19.3cr.

Companyhas cash & equivalents of Rs 608cr as of Sep-2025. EPS for the quarter stood at Rs 3.87 and it stood at Rs 7.43 for H1FY26. At CMP, the stock trades at 19.5x FY27E EPS.

Insecticides India

Overall performance was in-line with expectations for the quarter. Revenue for the quarter grew 1.8% YoY at Rs 637.7cr as against estimate of Rs 648cr. Operating margin contracted 30bps YoY at 14%. Gross margin was up 270bps YoY at 34.4%. Net profit was down3.7% YoY at Rs 59.1cr. EPS for the quarter stood at Rs 20.3 and it stood at Rs 40.3 for H1FY26. At CMP, the stock trades at 11.8x FY27E EPS.

Pfizer Ltd.

Overall performance was in-line with expectations for the quarter. Revenue for the quarter grew 9.1% YoY at Rs 642.4cr as against estimate of Rs 639cr. Operating margin improved 370bps YoY at 35.8% on cost control measures (expectation of 34.2%).Net profit was up 19.3% YoY at Rs 189cr. Other Income was down 3%YoYat Rs 41.8cr. Company had cash & equivalents of Rs 2707 crore as of Sep-2025. EPS for the quarter stood at Rs 41.3 and it stood at Rs 83.3 for H1FY26. At CMP, the stock trades at 29x FY27E EPS

Eris Lifesciences

Overall result was in-line with expectations for the quarter. Revenue for the quarter grew 6.9% YoY at Rs 792cr as against estimate of Rs 814cr. Operating margin improved 65bps YoY at 36.4% as compared to expectation of 35.5%. Net profit was up 38.7% YoY at Rs 134cr.

Domestic branded business grew 10% YoY at Rs 708cr. Net debt as of Sep-2025 was at Rs 2,278 crore. Company retained total capex guidance over FY26-28 at Rs 750-800 crore. EPS for the quarter stood at Rs 8.8 and it stood at Rs 17.5 for H1FY26. At CMP, the stock trades at 29x FY27E EPS.

Gabriel India

Revenue grew 15% at Rs 1,180 crore. EBITDA was up 14.5% at Rs 113 crore vs. Rs 98.5 crore. Net Profit was up 9.7% YoY at Rs 69 crore.

Source – HDFC Securities, Prime Daily, 13 Nov 2025

Disclaimer: At HDFC SKY, we take utmost care and due diligence in curating and presenting news and market-related content. However, inadvertent errors or omissions may occasionally occur.  

If you have any concerns, questions, or wish to point out any discrepancies in our content, please feel free to write to us at content@hdfcsec.com.  

Please note that the information shared is intended solely for informational purposes and does not make any investment recommendations