Q2 FY26 Earnings Results
Q2 FY26 earnings, Jul–Sep 2025: 6,052 Indian listed companies have reported; median profit growth is +2.2% on last year, and 114 of 245 companies with analyst estimates beat them. Quarter ended 30 Sep 2025.
Reported
6,052
companies
Profit breadth
51% / 45%
grew / declined · 4,400 comparable
Median sales YoY
+8.9%
across all reporters
Median profit YoY
+2.2%
across all reporters
Beat / missed
114 / 107
of 245 covered
Strongest / weakest
Food Products +22.2%
Forest Materials −33.3%
median profit growth, 10+ reporters
| # | Company | Revenue (₹ Cr) | Sector | Revenue (₹ Cr) | Profit (₹ Cr) |
|---|---|---|---|---|---|
| 🥇 |  RELIANCE Reliance Industries Ltd | 2,54,623 | Petroleum Products | 2,54,623 | 22,092 |
| 🥈 |  LICI Life Insurance Corporation of India | 2,41,524 | Insurance | 2,41,524 | 10,096 |
| 🥉 |  IOC Indian Oil Corporation Ltd | 1,78,628 | Petroleum Products | 1,78,628 | 8,191 |
| 4 |  RAJESHEXPO Rajesh Exports Ltd | 1,75,212 | Consumer Goods | 1,75,212 | 104 |
| 5 |  ONGC Oil & Natural Gas Corpn Ltd | 1,57,911 | Oil & Gas | 1,57,911 | 12,615 |
| 6 |  BPCL Bharat Petroleum Corporation Ltd | 1,04,946 | Petroleum Products | 1,04,946 | 6,191 |
| 7 |  HINDPETRO Hindustan Petroleum Corporation Ltd | 1,00,856 | Petroleum Products | 1,00,856 | 3,859 |
| 8 |  TMPV Tata Motors Passenger Vehicles Ltd | 72,349 | Automobiles | 72,349 | 76,248 |
| 9 |  LT Larsen & Toubro Ltd | 67,984 | Industrials | 67,984 | 4,678 |
| 10 |  HINDALCO Hindalco Industries Ltd | 66,058 | Metals & Mining | 66,058 | 4,741 |
| 11 | Apeejay Tea Ltd (Merged) | 65,799 | — | 65,799 | 12,131 |
| 12 |  TCS Tata Consultancy Services Ltd | 65,799 | Information Technology | 65,799 | 12,131 |
| 13 |  TATASTEEL Tata Steel Ltd | 58,689 | Metals & Mining | 58,689 | 3,183 |
| 14 | Vishwakarma Cements Ltd | 52,145 | — | 52,145 | 8,651 |
| 15 |  BHARTIARTL Bharti Airtel Ltd | 52,145 | Telecom | 52,145 | 8,651 |
| 16 |  M&M Mahindra & Mahindra Ltd | 46,106 | Automobiles | 46,106 | 3,964 |
| 17 |  JSWSTEEL JSW Steel Ltd | 45,152 | Commodities | 45,152 | 1,646 |
| 18 |  NTPC NTPC Ltd | 44,786 | Power | 44,786 | 5,225 |
| 19 |  INFY Infosys Ltd | 44,490 | Information Technology | 44,490 | 7,375 |
| 20 |  MARUTI Maruti Suzuki India Ltd | 42,344 | Consumer Discretionary | 42,344 | 3,349 |
| 21 |  GRASIM Grasim Industries Ltd | 39,900 | Construction | 39,900 | 1,498 |
| 22 |  BAJAJFINSV Bajaj Finserv Ltd | 37,403 | Financial Services | 37,403 | 4,746 |
| 23 | Mardia Extrusions Ltd | 35,537 | — | 35,537 | 1,989 |
| 24 |  GAIL GAIL (India) Ltd | 35,537 | Energy | 35,537 | 1,989 |
| 25 |  HCLTECH HCL Technologies Ltd | 31,942 | Information Technology | 31,942 | 4,236 |
About the Q2 FY26 leaderboard
What does the Q2 FY26 earnings leaderboard rank?
Companies ranked on one measure at a time — EPS surprise against consensus, profit growth, revenue growth, or absolute profit and revenue. Ranking is computed over every company that reported the quarter, not just the ones on the first page of the grid.
Which companies can appear in the EPS surprise ranking?
Surprise is measured against an analyst estimate, and only 245 companies had one for Q2 FY26. A company nobody covers has no surprise to report, so it sorts below every company that does rather than being ranked at zero — in practice the ranking is filled by covered companies.
Is a large percentage growth figure always a good result?
No. A company recovering from a very small base can post several hundred percent growth on a modest absolute gain, which is why absolute revenue and profit are shown beside the growth figure. Growth measured from a loss-making base is excluded entirely rather than published as a large number.
Why do some Q2 FY26 growth figures show "n/a" instead of a percentage?
Growth is left blank whenever the comparison period was not profitable. A percentage change measured from a loss is arithmetic without meaning — a swing from a ₹10 crore loss to a ₹10 crore profit is not "200% growth", and publishing it as such would flatter the company. The reported figures for both periods are still shown, so the change is there to read directly.
Does the beat/miss verdict cover every company?
No, and the denominator matters. An analyst consensus existed for 245 of the 6,052 companies that reported Q2 FY26 — 4.0%. Beat, missed and in-line describe only those. Every other company is marked "no estimate" rather than being counted as in line, because nobody forecast it. Revenue and profit growth, by contrast, cover every company in the table.
What counts as an in-line result rather than a beat or a miss?
Reported earnings per share within ±2% of the consensus estimate. The band is set there because a tighter one classifies rounding as news, and a wider one swallows surprises that genuinely moved a stock.
Are the figures consolidated or standalone?
Consolidated where a company reports on that basis, standalone otherwise, with all money in ₹ crore. Figures are as filed by the company with the exchanges (NSE/BSE); they are not restated or adjusted.
Figures are as reported by companies in their quarterly filings to the exchanges (NSE/BSE), in ₹ crore. Consolidated results are shown where a company reports them, otherwise standalone. Year-on-year and quarter-on-quarter growth is omitted where the comparison period was loss-making, since a percentage change from a negative base is not meaningful. Analyst consensus is an estimate, not a forecast of outcome.