Research Reports

The Vikas Garg Question: Governance Shock Across Four Listed Companies

governance · ED arrest · PMLA

DB Corp Q1FY27: consolidated PAT ₹100.7 Cr, up ~25% YoY as EBITDA margin expands 250bps to 26.1%

Shyam Metalics' Value-Multiplication Play: ₹800 Crore Into High-Margin Aluminium

aluminium foil · value-added products · margin expansion

The Refinery Cycle Turns: MRPL's Q1 Profit Surge Signals Recovery

refinery margins · crude prices · PSU energy

Mangalam Drugs: The Default Signal — Balance Sheet Under Pressure

distress · bank default · micro-cap

The ED's Cross-Company Enforcement: The Vikas Garg Pattern

ED enforcement · PMLA · regulatory risk

Emmvee's Record Margin Inflection — The 35% EBITDA Story

solar · margin inflection · capacity expansion

Emmvee Q1 consolidated PAT doubles YoY to ₹380 Cr; revenue +51%, margins expand

MRPL swings to ₹946 Cr consolidated profit as revenue doubles YoY; ₹472 Cr one-off flatters it

ICICI Lombard Q1 PAT falls 46% YoY to ₹403 Cr as claims spike, ₹165 Cr motor reserve bites

GTPL Hathway: consol revenue +12% to ₹1,015 Cr but PAT collapses 81% YoY to ₹1.4 Cr on margin squeeze

Angel One Q1: consolidated PAT doubles YoY to ₹231 Cr, down 28% QoQ on margin reset

Artson slips to ₹0.41 Cr net loss in Q1 as revenue falls 42% YoY; Tata parent backs going concern

Raghav Productivity: consolidated PAT jumps 68% YoY to ₹19.6 Cr on 49% revenue growth, margins widen

HDB Financial Q1: standalone PAT up 38% YoY to ₹785 Cr as credit costs ease, margins widen

Jana SFB Q1: net profit up 52% YoY to ₹155 Cr on margin expansion, lower provisions

Himadri Q1: record consolidated PAT ₹228 Cr, up 27% YoY, but forex & mining dilute margins

Fedbank's Breakneck Q1 Growth — The Sprint's Sustainability Test

NBFC · Q1 results · growth

Goa Carbon slips to ₹6.6 Cr loss as quarter-long plant shutdowns crush revenue 67% YoY

ICICI Pru Life Q1: standalone PAT +27.8% to ₹386 Cr, VNB margin expands 220bps to 26.7%

Oriental Hotels Q1: consolidated PAT slips 20% to ₹5.3 Cr as overseas JV loss widens

The Provision Relief Wasn't Priced: Union Bank's Q1 Surprise

Q1 FY27 · earnings surprise · provision relief

Union Bank Q1: consolidated PAT up 27% YoY to ₹5,642 Cr, beats street as provisions ease

ICICI Lombard's ₹776 Crore Arbitration Loss — A 13-Year Claim Comes Due

Arbitration · Claims Risk · M&A Integration

SSWL Q1FY27: consolidated PAT +47% YoY to ₹69.5 Cr as margins widen on 27% revenue jump

Fedbank Financial Q1: PAT up 52% YoY to ₹114 Cr as NIM expands, GNPA eases to 1.55%

Ksolves Q1: consolidated PAT +43% YoY to ₹9.2 Cr on margin gains; revenue growth soft

Groww Q1: consolidated PAT ₹735 Cr, +94% YoY on margin expansion; revenue flat QoQ

LTTS + Anthropic: Claude's Re-entry Into Engineering Workflows

AI · Claude · Engineering Intelligence

Dalmia Bharat's $132M Tanzania Wager: Sugar's New Geography

sugar · capex · international expansion