Jammu & Kashmir Bank Ltd posted a net profit of Rs 494.11 Cr for the July-September Quarter (Q2) of current financial year (CFY), and a net profit of Rs 978.95 Cr for the half-year (H1). Despite tough challenges, the Bank is on track to achieve its annual market guidance. The Bank’s Net Interest Income (NII) for the half-year (H1) is marginally up by 3.4% Year-on-Year at Rs 2899.43 Cr, while for Q2 NII stood at Rs 1433.99 Cr. The Bank’s other income for H1 was at Rs 405.19 Cr while the Cost to Income Ratio for the half-year stood at 60.80%.
In spite of widespread disruptions during the first quarter following the Pahalgam incident and the extensive damage caused by floods in the second quarter, the overall growth we have recorded is both encouraging and reassuring... Even though profitability for Q2 was moderated due to an additional impairment provision of Rs 92 Cr made during the quarter in compliance with regulatory requirements, the performance is better than what was anticipated under the challenging circumstances.
Can Fin Homes Ltd has reported a 18% increase in Q2 net profit to Rs. 251 Crore for the quarter ended September 30, 2025. The loan portfolio stands at Rs. 39657 crores, with housing loans constituting 74%. The net interest margin is 3.83% and ROE is 17.40%. The company's liquidity coverage ratio is 217.24% as of September 30, 2025.
The Board of Directors of Can Fin Homes Limited in their meeting held on Oct 18, 2025, have approved the Financials for the quarter and half year ending 30/09/2025.
RBL Bank announced its Q2 FY26 results with a net profit of ₹179 crore, impacted by MTM of ₹44 crore on unlisted equities. Advances crossed ₹1 lakh crore during the quarter, with loan against property book crossing ₹10,000 crore and business banking loans crossing ₹2,000 crore. NII grew 5% QoQ to $1,551 crore, and NIM was at 4.51%. Core fee income grew 17% QoQ to €926 crore. Operating expenses de-grew 5% QoQ to 71,755 crore, and the cost to income ratio was 70.7%. Operating profit grew 4% QoQ to ₹7728 crore. Total deposits grew 8% YoY and 3% QoQ to ₹116,667 crore. Net advances grew 14% YoY and 6% QoQ to ₹1,00,529 crore. GNPA was down 55 bps YoY to 2.32%, and NNPA was down 22 bps YoY to 0.57%. The provision coverage ratio including technical write off was 92.7%.
We have delivered another quarter of stable financial performance; the momentum continues in secured retail and commercial banking on asset side and granular deposits on liability side. The growth in our JLG business is coming back on the back of improving asset quality trends and we expect it to further improve in H2 FY26. During Q2 FY26, slippages in the JLG portfolio have moderated further. The core engine remains robust — anchored in disciplined execution, profitability-driven growth of Balance Sheet, and a sharper cross sell to existing customers.
AGI Greenpac, India's largest glass container company, reported a robust H1 FY26 performance. Revenue grew 11% YoY to ₹1,289 crore, while net profit rose 22% YoY to ₹165 crore. The company has undertaken strategic capacity expansion initiatives and is entering the aluminum cans segment.
AGI Greenpac is positioned for a strong multi-year growth trajectory, underpinned by a solid H1 FY26 performance. As we move into the next phase of expansion, our focus remains on expanding capacity, diversifying into high-potential segments, and driving operational excellence.
IDFC First Bank published its unaudited financial results for the quarter and half year ended September 30, 2025. The bank reported a YoY increase in loans and advances, customer deposits, and a decrease in gross and net NPAs. The bank's net profit for Q2 FY26 was up 75.6% YoY.
The stress in the MFI business was an MFI industry issue and looks like it is behind us. Other than MFI, the asset quality of the Bank has always been stable for over a decade through cycles and continues to be so with Gross NPA at 1.86% and Net NPA at 0.52% as of 30 September 2025. On cost of funds, we expect it to drop from here on. The bank is witnessing improving operating leverage.
IDBI Bank has reported a surge in net profit by 98% YoY to Rs. 3,627 Crore for the quarter ended September 30, 2025. The operating profit stood at Rs. 23,523 crore, registering a YoY growth of 17%. The total business stood at Rs. 5,33,730 crore, with total deposits and net advances at Rs. 3,03,510 crore and Rs. 2,30,220 crore respectively. The return on assets (ROA) improved to 3.55%, while the gross NPA ratio stood at 2.65%. The bank also won two awards at the 3rd ICC emerging Asia Banking Conclave & Awards 2025.
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Punjab National Bank has reported its financial results for the quarter and half-year ended 30.09.2025. The bank's net profit has increased by 14.0% to ₹ 4,904 Crore in Q2 FY’26. The operating profit for Q2 FY’26 has increased to ₹ 7,227 Crore and to ₹ 14,308 Crore for HY1FY’26. The bank's return on assets (RoA) has improved to 1.05% in Q2 FY’26 from 1.02% in Q2 FY’25. The net interest income (NII) has increased to ₹ 21,047 Crore in HY1FY’26 from ₹ 20,993 Crore in HY1FY’25. The global net interest margin (NIM) stands at 2.65% in HY1FY’26 and 2.60% in Q2 FY’26. The GNPA ratio has improved by 103 bps on Y-o-Y basis to 3.45% as on September’25 from 4.48% as on September’24. The NNPA ratio has improved by 10 bps on Y-o-Y basis to 0.36% as on September’25 from 0.46% as on September’24. The provision coverage ratio (including TWO) has improved by 24 bps on Y-o-Y basis to 96.91% as on September’25 from 96.67% as on September’24.
Comment of the person
HCL Technologies Ltd reported strong Q2 FY26 earnings with 2.4% sequential revenue growth and 116 basis points sequential operating margin expansion. The company's revenue grew 2.4% sequentially and 4.6% on a year-on-year basis in constant currency. The Services business grew 2.5% sequentially and 5.5% year- on-year in constant currency. The Software business' Subscription, Support and Professional Services revenue grew 9% year-on-year. The company generated over $100 million in Advanced AI revenue through diverse service lines and IPs.
This was a strong and energizing quarter for us with broad-based growth, expansion in margins, and exceptional bookings. We are seeing the results of a strategy come to life, and am proud of how our teams are executing and winning in the market.
Little later, Shiv would unpack detailed financials across service lines, geographies, verticals, and the client segments.
Bajaj Healthcare Limited, one of the leading manufacturers of APIs, Intermediates and Formulations, announced its Un-Audited Financial Results for the quarter and half year ended 30° September 2025. The company reported a strong Y-o-Y growth in revenue and profitability.
Our Q2 FY26 performance underscores the resilience of our operations and the strength of our strategic execution, despite ongoing tariff tensions and global uncertainty. Revenue from operations grew 11% year-on-year. Sequentially, gross margin expanded by 462 basis points to 50.8%, while EBITDA margin improved by 217 basis points to 19.1%, resulting in profit from continuing operations growing by a strong 49% year-on-year and reaffirming our focus on sustainable earnings growth. This improvement in margins and profitability was driven by strong growth in exports (up 67% year-on-year) and formulations during the quarter. While pricing pressure persists in the domestic API segment, we continue to pursue opportunities in high-margin products to support long-term margin stability. On the regulatory front, we continue to strengthen our global compliance framework and advance product registrations across key geographies. Our focus remains on expanding our presence in regulated markets and aligning our pipeline with high-value therapeutic areas that offer long-term growth potential. With a strong foundation, enhanced regulatory preparedness, and continued investment in R&D, we are well-positioned to sustain growth momentum and drive expansion across our API and formulations businesses. We have also strengthened our key management people with industry leaders across key divisions, enabling us to achieve sustainable and scalable growth. We remain committed to creating long-term value for the healthcare ecosystem and our stakeholders.
Oracle Financial Services Software Limited, a majority-owned subsidiary of Oracle, announced results for the quarter and half year ended September 30, 2025. The company reported a 7% YoY increase in revenue for the quarter, with the Products business posting revenue of Rs. 1,623 Crore and the Services business posting revenue of Rs. 166 Crore. For the half year, the company reported a 7% YoY increase in revenue and a 1% YoY increase in operating income. The Board of Directors declared an Interim Dividend of Rs. 130 per equity share for the financial year 2025-26.
After the usually strong first quarter of the financial year, we are happy to see the continuing momentum. Year over year, revenue for the half year grew 7% and operating income by 1%. We have a robust deal pipeline, validating the continued relevance of our offerings to global financial institutions as they transform into intelligent enterprises in the digital world.”
We maintained the focus on delivering a strong operating performance with operating margins for the half-year of 43% and net margin of 33%. Our Remaining Performance Obligations as of September 30, 2025, are Rs. 6,349 Crore. Our healthy balance sheet position and operational excellence gives us confidence.”
CESC Ltd, a part of the RP-Sanjiv Goenka Group, has reported a 12.2% increase in consolidated revenue for Q2FY26. The company also achieved significant savings in variable cost on both fuel and power procurement, and maintained a focus on reducing T&D losses. The Board of Directors has declared an interim dividend of Rs. 6/- per share (600%).
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RPG Life Sciences Limited has announced its financial results for the second quarter and half year ended September 30, 2025. The company recorded a 7.6% Q-o-Q and 5.5% Y-o-Y increase in revenue. EBITDA margins stood at a strong 24%, reflecting operational efficiency. The domestic formulations business is delivering market-beating performance with a growth of 13.5% in H1 FY26 versus Indian Pharma Market which recorded a growth of 7.4% in H1.
In Q2, we have further strengthened our growth trajectory, driven by disciplined execution and a clear strategic focus. Our transformation agenda is anchored in a legacy of quality and focused on enhancing patient outcomes. We are making steady progress in our International Formulations and API business, supported by new customer acquisitions, expansion into both emerging and regulated markets, and launch of molecules that enhance our therapeutic footprint.”
Himadri Speciality Chemical Ltd reported results for the quarter and half year ended 30 September 2025. The company recorded the highest-ever EBITDA and PAT, with a 21% and 39% increase respectively. The performance was supported by a continued focus on high value-added products, operational efficiency, and yield improvement. The company is also shaping the transformation in the lithium-ion battery materials industry with a planned 2,00,000 MTPA LFP cathode material facility and advancements in silicon-carbon anode technology.
We are pleased to report our highest-ever quarterly EBITDA and PAT, underscoring the strength, resilience, and sustainability of our business model.
Tejas Networks has reported its financial results for the second quarter ended September 30, 2025. The company saw a QoQ growth of 30% with a revenue of Rs. 262 Cr. However, there was a net loss of Rs. 307 Cr due to lower revenue and provisions for manufacturing process losses, warranty, and inventory obsolescence. The company also announced the successful inauguration of the BSNL 4G network by the Hon’ble PM, and highlighted the launch of new products and partnerships.
In Q2 FY26, a key highlight was the successful inauguration of the BSNL 4G network by the Hon’ble PM, across 97,000+ sites built with our 4G RAN product. We became the 5" nation in the world to develop fully indigenous 4G/5G stack. During the quarter we continued to invest in expanding our product portfolio and sales engagements: e Our 64T64R massive MIMO radio was launched by Hon’ble MOC at Indian Mobile Congress e We also launched our state-of-the-art 1.2Tbps DWDM transmission system e Successfully completed our first private 5G RAN deployment under BSNL’s CNPN (Captive Non-Public Network) program and 4G/5G RAN POC in a mobile operator’s network in South Asia e We had increasing traction for our 400G DWDM products with new wins in India, Europe and Africa e We expanded our Wireless International customer engagements through partnerships with NEC and Rakuten.
In Q2 FY26 we had a revenue of Rs. 262 Cr, a QoQ growth of 30%. We ended the quarter with an order book of Rs. 1,204 Cr. We had a net loss of Rs. 307 Cr, largely due to lower revenue and provisions due to manufacturing process losses, warranty and inventory obsolescence (~190 Cr).
Purple Finance Ltd (PFL), a fast-growing NBFC serving MSMEs through LAP product, announced encouraging results for Q2 FY26. PFL recorded 80% increase in total income and a 67% improvement in bottom-line performance over the previous quarter. The company's Assets under Management (AUM) reached Rs. 63 Cr by end of Sept’2025, reflecting a growth of 209% over the past year. PFL is looking forward to reaching AUM of Rs. 250 crores by end of the current Financial Year.
Our performance in Q2 demonstrates the scalability and resilience of our business model. We are committed to expanding our reach and achieve profitability while maintaining quality portfolio.
Oriental Hotels Limited (OHL) reported its results for the second quarter and half year ending September 30, 2025. The company saw a 10% increase in revenue in Q2 FY26 and a 38% growth in PAT over the previous year. The first half of the year also saw a 17% growth in revenue and a PAT of INR 21.37 crores.
In Q2 FY26, OHL reported a revenue of INR 115 crores, 10% over the previous year supported by major upgrades to assets and sustained demand growth. EBITDA for the quarter stood at INR 31.05 crores and a PAT of INR 12.7 crores, a 38% growth over last year. For the first half of the year, revenue stood at INR 222 crores, a 17% growth with an EBITDA of INR 56.46 crores and PAT of INR 21.37 crores. The company will continue to deliver a double-digit revenue growth in the coming quarters.
Orient Electric Limited announced its financial results for the second quarter of FY26. The company reported a revenue of 703 Cr, an EBITDA margin of 5.4%, and a Profit Before Tax (PBT) increase of 14.5% YoY. The lighting and switchgear business unit grew by 18.6%, while ECD remained flat. The company's strategic focus on diversification, market expansion, brand building, and expanding DTM footprint continues.
Despite a transitional quarter shaped by GST reforms and incessant rains, Orient Electric delivered a resilient performance, driven by strong execution across emerging categories and continued focus on premiumization. Our Lighting, Switchgear and Wires portfolio delivered industry leading growth at 18.6%, validating our strategic focus on diversification and market expansion. Our investments in building the brand and expanding DTM footprint continue to be strategic imperatives, along with driving profitability with multiple operational initiatives and achieving operating leverage. As we enter the festive season and gear up for regulatory shifts, we remain confident in our ability to sustain momentum and deliver profitable growth.
Sobha Ltd announced its Q2 FY26 results, highlighting steady growth driven by consistent performance, sustained demand, and healthy cash flows. The company achieved a historic cash flow performance crossing Rs. 2,000 Crore for the first time.
We delivered a strong and stable performance in Q2 FY26, building on the momentum created in the previous quarter in terms of real estate sales, with highly integrated sales and marketing efforts. It also reflects the steady demand for luxury residential real estate in a growth economy, with improving macroeconomic parameters & timely government interventions. Our project delivery teams have also increased the pace of project completions with world-class quality across cities, with completions of 2.25 mn sft (1185 homes) in the first half of the year. Improved profitability would reflect as we increase the volume of deliveries in higher margin projects. With a clear pipeline of 16.69 mn sft of future launches in the next six quarters, strong balance sheet and a stable demand environment, we are well positioned for growth and to capitalize on potential opportunities. Our unique backward integrated model would drive quality, reliability and scale for the company.
The Bank of India has reported its financial results for the second quarter of the financial year 2025-2026. The bank's gross NPA ratio stands at 2.54%. The board of directors approved the unaudited (reviewed) standalone and consolidated financial results.
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Pondy Oxides and Chemicals Limited has reported an outstanding performance in Q2 & HIFY26, with a significant increase in revenue, EBITDA, PAT, and margins. The company's balance sheet has strengthened with zero net debt and a net cash balance of INR 71 Cr. The sales mix between domestic and export markets stands at 39% and 61% respectively, with 70% of value-added products in the Lead segment.
IT am delighted to share that POCL has delivered its strongest-ever quarterly and half-yearly performance, driven by robust operational execution. On a half-yearly basis, Revenue, EBITDA, and PAT grew by 22%, 83%, and 98% YoY, respectively, supported by a notable increase in production and sales volumes across Lead and Copper. POCL remains firmly on track to realize its Target 2030, focusing on capacity expansion, 15%+ volume growth, 20%+ revenue CAGR, enhanced profitability, and an increased share of value-added products. Backed by a clear strategic roadmap, strong financial health, healthy net cash balance sheet, disciplined operations, a favorable regulatory environment, experienced leadership, and the continued support of our stakeholders, POCL is exceptionally well- positioned for consistent, long-term growth.
