Rev 15.0% · PAT 8.0% · OPM 11.65%

Margin squeeze · Record quarter

Revenue grew a strong 38.3% YoY to a 6-quarter high, but NPM compressed for the second straight quarter (9.52%→8.44%) as material costs rose 64% YoY, capping an otherwise record-PAT quarter at good rather than very_good.

Rev 4.6% · PAT 21.7% · OPM 62.62%

One-off gain

Revenue (AMC's core growth metric) rose a healthy 12.9% YoY, but PAT growth of 21.5% is partly inflated by a sharp jump in other income (₹0.36cr→₹6.55cr), with core PBT (ex-other income) up only ~12%, so adjusted growth and stable margins place this in the good, not standout, band.

Rev 12.3% · PAT 21.8% · OPM 59.86%

Broad based · Margin expansion · Record quarter

NBFC core metrics are strongly up — net profit +405% YoY and revenue +70% YoY off a low but not negligible base, with NIM/margin proxy (OPM) expanding sharply from 49.2% to 59.9%, indicating genuine operating improvement rather than a one-off gain.

Rev 48.3% · PAT 51.2% · OPM 43.60%

Turnaround · Margin expansion · Base effect

Core High Tension Insulators segment revenue grew ~151% YoY with margins expanding from ~7.7% to ~43.3%, and adjusted PAT rose ~17x to a 6-quarter high, but the prior-year base was depressed by an exceptional charge, so this is capped at good rather than very_good.

OPM 20.82%

Margin expansion · One-off gain · Base effect

Revenue +35.7% YoY and PAT +150.7% YoY beat the company's own guidance range, but a ~₹45 Cr inventory-build swing mechanically drove much of the margin expansion and last year's PAT base was thin, so it's capped below very_good on adjusted quality.

OPM 19.86%

Turnaround · Margin expansion · Base effect

Clean YoY loss-to-profit turnaround with margin expansion (NPM -5.0%→11.0%) and steady sequential growth, but capped below very_good since the 136% consolidated revenue growth is mostly base-effect from the tiny US subsidiary (₹0.9Cr→₹12.8Cr) while the core India standalone business grew a more ordinary 27% YoY and actually slipped 6% QoQ.

OPM 8.97%

Margin squeeze · Cost led

Revenue growth of 39% YoY is a standout for jewellery/consumer, but PAT grew slower (27%) as finance/employee/depreciation costs scaled sharply into the IPO, compressing net margin to 6.2% from 6.8%, capping this at good rather than very_good.

OPM 20.39%

Turnaround · Base effect · Broad based

EPC revenue jumped off a thin, unaudited base with only modest ~6% PAT margin and rising finance costs post-IPO, so the loss-to-profit turnaround is real but not a top-tier standout given the base-effect distortion and lack of any comparable run-rate.

OPM 13.59%

Broad based · Margin expansion

Manufacturing/EPC revenue +19.3% and adjusted PAT +32.4% YoY with broad-based margin expansion (EBITDA ~14.6% vs 11-12% preview) across both segments, but the bottom line only met (not beat) street estimates and a heavy finance-cost drag (32% of PBT) from pre-IPO leverage keeps it just shy of a standout quarter.

OPM 14.44%

Margin expansion · One-off gain

Revenue (+55% YoY) and PAT (+100% YoY) both grew strongly with NPM expanding to 10.2%, but the sequential pattern (revenue down 15% QoQ yet margin jumping from 6.35% to 10.2%) and prior IPO-review caution point to gold-price/inventory revaluation rather than pure demand-led execution, capping this below a true standout.