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Exide Industries Ltd. 14 Nov 2025 18:03 PM
Result PDF

Q2FY26 Quarterly Result Announced for Exide Industries Ltd.

Auto Parts & Equipment company Exide Industries announced Q2FY26 results

  • Revenue: Rs 4,178 crore against Rs 4,267 crore during Q2FY25.
  • EBITDA: Rs 395 crore against Rs 484 crore during Q2FY25.
  • PBT: Rs 298 crore against Rs 399 crore during Q2FY25.
  • PAT: Rs 221 crore against Rs 298 crore during Q2FY25.
  • EPS: Rs 2.60 for Q2FY26.

Avik Roy, MD & CEO, said: 'We had a strong first half of the quarter until mid-August when the GST cut was announced. The growth was muted in the second half, especially in trade business, driven by channel destocking. However, it is a welcome move by the government as it will drive demand in H2FY26. Global trade situation remained uncertain and impacted our exports.

Domestic Macro outlook is favourable with low inflation, low interest rates and higher disposable incomes. We expect the strong growth momentum, especially in Trade and Automotive OEM business, to be back in Q3.

There is continuous pressure from input material costs. In this environment, the company's priority has been on managing profitable growth and focusing on preserving cash. We proactively cut down production in the second half of the quarter in anticipation of the muted demand from channel partners. This helped us to reduce our inventory levels. Investments in our manufacturing technologies have started showing results which will be further realized as volumes grow.

In our lithium-ion cell manufacturing project, construction work is going on in full swing to ensure timely project completion. We wish to commercialise operations in FY26.'

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Cars & Utility Vehicles company Tata Motors Passenger Vehicles announced Q2FY26 results

Financial Highlights:

  • TMPVL delivered revenues of Rs 72.3K crore (down 13.5%) and EBIT of -Rs 4.9K crore (down Rs 8.8K crore).
  • PBT (bei) for Q2FY26 stood at -Rs 5.5K crore.
  • Net Profit was Rs 76.2K crore.

JLR Business Highlights:

  • Q2FY26 Revenue at GBP 4.9 billion (-24.-3%), EBITDA -1.6% (-1330 bps), EBIT -8.6% (-1370 bps), PBT (bei) GBP (485) million.
  • H1FY26 Revenue at GBP 11.5 billion (-16.3%), EBITDA 4.7% (-920 bps), EBIT -1.4% (-850 bps), PBT (bei) GBP (134) million.
  • EBIT guidance is revised to 0% to 2% for FY26.
  • Cash balance was GBP 3.0 billion and net debt GBP 1.8 billion, with gross debt of GBP 4.7 billion.
  • Total liquidity as at September 30, 2025 was GBP 6.6 billion, including undrawn RCF of GBP 1.7 billion and the new GBP 2.0 billion bridge facility, signed on September 22, 2025. Additionally, in October a GBP 1.5 billion UKEF guaranteed commercial loan was secured, providing further support to the balance sheet.
  • To support liquidity in its supply chain, JLR fast tracked a new GBP 500 million financing solution to allow qualifying suppliers to receive cash at the point of production scheduling.
  • Operations recovered at pace following cyber incident, with production now returned to normal levels.
  • Transformation programme launched in June starting to drive planned cost savings

Tata Passenger Vehicles Business Highlights:

  • Q2FY26 revenue at Rs 13.5K crore ( 15.6%), EBITDA 5.8% (-40 bps), EBIT 0.2% ( 10bps), PBT (bei) Rs 0.2K crore.
  • H1 FY26 revenue at Rs 24.4K crore ( 3.6%), EBITDA 5.0% (-100 bps), EBIT -1.1% (-130 bps), PBT (bei) Rs 0.0K crore.
  • Vahan registration market share at 12.8% in Q2FY26. EV Vahan market share at 41.4%.
  • Secured #2 rank in Vahan Market Share across both Sep 2025 & Oct 2025 driving sharp reduction in stocks.
  • Alternative powertrains continue to grow. EV penetration at 17%, CNG at 28% in Q2FY26.
  • Punch becomes India’s fastest SUV to cross 6 Lakh milestone in under 4 years.
  • Leveraging festive momentum, we retailed over 1 lakh vehicle deliveries between Navratri and Diwali ( 33% YoY).
    • Nexon was #1 model in industry in both Sep & Oct, with strong volumes across powertrains.
    • Strong demand for Punch with 40k units across Sep & Oct.
    • Highest-ever Harrier & Safari volumes on the back of newly launched Adventure X variants & strong response to Harrier.ev.
  • India’s Safest Hatchback: All-new Altroz achieved 5-Star Bharat NCAP Rating Across Petrol, Diesel & CNG Powertrains.
  • Re-entered South Africa market with Bold, Future-Ready Range of Passenger Vehicles.

PB Balaji, Group Chief Financial Officer, Tata Motors said: “It has been a difficult period for the business. However, we are committed to emerging from the cyber incident even stronger. With the demerger completed, both JLR and domestic PV businesses are well poised to leverage the significant opportunities provided by this exciting industry. Demand situation remains challenging globally but domestically there are signs of resurgence. In this context, our strategy is clear, plans robust and we will continue to execute them with speed and rigour to win”

Adrian Mardell, JLR Chief Executive Officer, said: “JLR’s performance in the second quarter of FY26 was impacted by significant challenges, including a cyber incident that stopped our vehicle production in September and the impact of US tariffs. JLR has made strong progress in recovering its operations safely and at pace following the cyber incident. In our response we prioritised client, retailer and supplier systems and I am pleased to confirm that production of all our luxury brands has resumed.

“The speed of recovery is testament to the resilience and hard work of our colleagues. I am extremely grateful to all our people who have shown enormous commitment during this difficult time, and I want to thank our clients, retailers, suppliers and everyone in the communities connected with JLR, for their support through this disruption.

“JLR is a great business with strong global brands, a talented workforce and a loyal customer base. We are now set to deliver the outcome of an extraordinary period of British design and engineering, with the arrival of the Range Rover Electric and the new electric Jaguar - cars which will be unrivalled in their performance, design and capability. While we are mindful of the economic, geopolitical and policy challenges that our industry faces, we are resilient and well placed to make strong progress.

“As I approach the end of my 35-year career at JLR, I am immensely proud of what we have achieved together. Leading JLR as CEO over the past three years has been the greatest honour of my career and I am confident that the next chapter will bring continued success for this great business under the leadership of PB Balaji.”

Shailesh Chandra, Managing Director & CEO, Tata Motors Passenger Vehicles, said: “Q2FY26 was a landmark quarter for Tata Motors Passenger Vehicles, marked by double-digit year-on-year growth in wholesale volumes and registrations, alongside several record-breaking milestones. Our growth was powered by our multi-powertrain portfolio, with CNG & EV volumes accounting for 45% of our volumes in Q2. EV sales surged by nearly 60% YoY with nearly 25 thousand units sold in Q2, reaffirming our leadership in sustainable mobility. Leveraging a reinvigorated demand environment, our agile approach, strong portfolio and impactful marketing helped us drive this growth trajectory. September was particularly noteworthy, with record overall sales of 60k units and several other milestones. This strong market performance translated into improving revenues and QoQ improvement in profitability. With a robust booking pipeline and rising consumer confidence, we are poised to sustain this momentum in H2 FY26, guided by our unwavering commitment to innovation and several new launches ahead.”

Result PDF

2/3 Wheelers company Hero MotoCorp announced Q2FY26 results

  • Volume: 16.91 lakh units of motorcycles and scooters sold in Q2FY26 (vs 15.20 lakh units Q2FY25)
  • Revenue from operations: Rs 12,126 crore, a growth of 16% over the corresponding quarter in the previous fiscal.
  • Earnings before Interest, Tax, Depreciation & Amortization (EBITDA) for Q2FY26 stands at Rs 1,823 crore, a growth of 20%.
  • Net Profit After Tax (PAT) at Rs 1,393 crore, a growth of 16% over the previous year.

Vivek Anand, Chief Financial Officer (CFO), Hero MotoCorp, said: “The change in the GST regime has fundamentally simplified India's indirect tax structure and demonstrably improved consumer sentiment. The industry witnessed direct benefits of this policy reform, reflected in strong market performance.

In Q2FY’26, the auto industry returned to broad based growth, further supported by positive festive sentiment. Hero MotoCorp witnessed strong momentum, aided by the success of our new launches, expanding product portfolio, and customer-centric marketing campaigns. Furthermore, our Emerging Mobility business—VIDA—returned growth ahead of the industry average, and the Company outperformed the markets in global business.

We expect the momentum in growth to continue, supported by benefits flowing in from the GST reforms, healthy macro economic parameters, and a robust product portfolio. We remain committed to sustained growth and will continue to invest strategically in technology, global markets, and product innovation to build long-term value for our shareholders.”

Result PDF

2/3 Wheelers company Eicher Motors announced Q2FY26 results

  • Revenue from operations surged 45% to Rs 6,172 crore in Q2FY25.
  • EBITDA grew 39% to Rs 1,512 crore.
  • Profit After Tax rose 25% to Rs 1,369 crore from Rs 1,100 crore last year.
  • Royal Enfield also recorded its highest-ever quarterly sales volume of 3,27,067 motorcycles, up 45% from 2,25,317 motorcycles sold during Q2FY25.

Govindarajan, Managing Director, Eicher Motors, &Chief Executive Officer, Royal Enfield, said: “This has been a truly encouraging quarter for Eicher Motors, as we recorded strong performance across the board for both Royal Enfield and VECV. At Royal Enfield, we have continued to deliver steady growth in volumes while further strengthening our growth story quarter after quarter. We witnessed an outstanding festive season, achieving record sales of 2.49 lakh units. The Government of India’s GST reform has further enhanced accessibility for motorcycles under 350cc, as reflected in the strong customer demand. At EICMA, this year, we marked a significant milestone in Royal Enfield’s legacy as we entered our 125th year of Pure Motorcycling, a legacy that is built on authenticity, craftsmanship, and an unwavering pursuit of timeless design. From crafting the world’s first production motorcycle in 1901 to becoming a global symbol of pure motorcycling, Royal Enfield’s journey has been one of evolution anchored in heritage. Our showcase at EICMA this year reflected a perfect blend of past, present, and future; ranging from the special edition of our most iconic motorcycle – the Classic 650 to a bigger and bolder Bullet 650, to pushing the boundaries of urban exploration with the Flying Flea S6. VECV, too, has continued to show steady growth, supported by a robust product portfolio and a deep understanding of India’s changing commercial mobility landscape. Our ongoing focus on developing sustainable and efficient transport solutions positions us strongly for the future. As we progress, our dedication to long-term value creation remains firm, driven by customer-centric innovation, global aspirations, and meaningful brand experiences at every level.”

Vinod Aggarwal, MD & CEO, VECV & Vice Chairman, Eicher Motors, said: “VECV delivered a solid performance in Q2FY26, growing by 5.4% YoY and registering our best ever second quarter in terms of truck and bus deliveries. Eicher retained its position as the market leader in Light and Medium Duty Trucks (5-18.5 T GVW), while delivering 10,096 units in the quarter. We continue to make steady progress in the Heavy-Duty trucks segment, recording our best-ever second-quarter deliveries and a market share of 10.5% during the period. Reflecting our expanding Dealer Network and focus on Customer Service and Uptime, spare parts sales grew 11.8% quarter-on-quarter. Volvo Trucks and Buses continue to dominate their respective segments. During the quarter, we launched the Eicher Pro Plus range of medium-duty trucks with air-conditioned cabs to conform to legal mandates. Equipped with a unique fuel-efficient compressor technology, these trucks were launched with improvements to loading capacity to deliver a win-win for both operators and drivers. Profit After Tax for the quarter improved to Rs 249.3 crore, a growth of 19.7% over the corresponding period last year. GST rationalization has had a positive impact on consumer confidence and consumption. This will in turn support demand for commercial vehicles in the coming period.”

Result PDF

Auto Parts & Equipment company Samvardhana Motherson International announced Q2FY26 results

  • Revenue: Rs 30,173 for Q2FY26, change 8.5% YoY.
  • EBITDA: Rs 2,719 for Q2FY26.
  • PAT: Rs 856 for Q2FY26, change 15% YoY.

Vivek Chaand Sehgal, Chairman, Motherson, said: “Our performance demonstrates the resilience and adaptability of our global business teams, whose collaborative spirit has been essential in navigating a dynamic business environment. Leveraging our strong design, engineering, manufacturing and assembly expertise, we are well-equipped to fulfil our customers' needs and deliver sustainable growth. The transformative measures we have implemented are expected to maintain momentum and accelerate further in H2FY26. The robustness of our booked business highlights the trust our customers place in us. The performance of our non-automotive businesses, such as Aerospace and Consumer Electronics, is highly encouraging, and we are excited about their immediate future potential. Our strategic focus on prudent financial management enables us to maintain a strong balance sheet while investing in opportunities that drive our progress.”

Result PDF

Iron & Steel Products company Tata Steel announced Q2FY26 results

  • Consolidated Revenues for the half year were Rs 1,11,867 crore and EBITDA was Rs 16,585 crore with a margin of around 15%. EBITDA improved by 27% YoY despite the challenging operating environment.
    • India revenues were Rs 65,924 crore and EBITDA was Rs 16,140 crore, which translates to an EBITDA margin of 24%. EBITDA improved by 16% YoY.
    • Netherlands revenues were EUR 3,070 million and EBITDA was EUR 155 million. EBITDA doubled on YoY basis.
    • UK revenues were GBP 1,041 million and EBITDA loss was GBP 107 million. EBITDA loss halved on YoY basis.
  • Consolidated Revenues for the Jul – Sep 2025 quarter were Rs 58,689 crore and EBITDA was Rs 9,106 crore with a margin of around 16%. EBITDA improved by 22% QoQ and 46% YoY.
    • India revenues were Rs 34,787 crore and EBITDA was Rs 8,654 crore, which translates to a margin of 25%. Crude steel production was up 8% QoQ to 5.65 million tons and deliveries were up 17% QoQ to 5.55 million tons aided by rise in domestic deliveries.
    • Netherlands revenues were EUR 1,551 million and EBITDA was EUR 92 million vs. EUR 64 million in Q1FY26. Liquid steel production was 1.67 million tons and deliveries were 1.54 million tons.
    • UK revenues were GBP 505 million and EBITDA loss stood at GBP 66 million vs. loss of GBP 41 million in Q1FY26. Deliveries stood at 0.57 million tons and were marginally lower due to subdued demand.
  • The company has spent Rs 3,250 crore on capital expenditure during the quarter and Rs 7,079 crore for the half year. Net debt stands at Rs 87,040 crore.
  • In September 2025, Tata Steel signed a non-binding Joint Letter of Intent with the Government of the Netherlands and the province of North-Holland on an integrated health measures & decarbonisation project.

T V Narendran, Chief Executive Officer & Managing Director, said: “The global operating environment remained challenging with persistent overhang of tariffs, geopolitical tensions and elevated steel exports. Despite this, Tata Steel delivered a resilient performance with the EBITDA margin improving for the second consecutive quarter. In India, while the crude steel production rose 8%, deliveries grew at a higher rate of 17% QoQ as our marketing franchise enabled us to scale effectively. We continue to strengthen our market leadership across key segments, underpinned by capacity expansion and a focused downstream strategy. Kalinganagar’s continuous annealing line and galvanising line have expanded our hi-end product offerings to Automotive. Our new 0.5 MTPA combi mill will further amplify this advantage and strengthen our presence in specialty steel segment. Our well-established retail brand, Tata Tiscon grew by 27% QoQ and we continue to consolidate our position in engineering and construction solutions. On the digital front, our e-commerce platforms such as Aashiyana and DigECA achieved Gross Merchandise Value of Rs 1,980 crore for the quarter and more than tripled on YoY basis. As for overseas operations, UK deliveries were 0.57 million tons and Netherlands deliveries were 1.54 million tons. We remain focused on transitioning our UK and Netherlands businesses to economically and environmentally viable operations. In September 2025, we signed a non-binding Joint Letter of Intent with the Government of Netherlands and Province of North-Holland on an integrated health measures and decarbonisation project. I am happy to share that Tata Steel became the only Indian company to be recognised by worldsteel for Safety and Health excellence, in process safety management, for three years in a row.”

Koushik Chatterjee, Executive Director & Chief Financial Officer, said: “Tata Steel has continued to perform despite the challenging operating environment. For the quarter ended 30th September 2025, EBITDA margin improved by 145 bps QoQ and 280 bps for the half year, reflecting operational strength and cost discipline. Consolidated revenues for the quarter stood at Rs 58,689 crore, while EBITDA was Rs 9,106 crore, translating to a margin of ~16% or Rs 11,518 per ton. This performance was underpinned by sharp focus on cost transformation program, which delivered around Rs 2,561 crore for the quarter and around Rs 5,450 crore for the half year. India performance has been aided by strong growth in volumes. NINL, our strategic lever to expand in long products business, generated EBITDA, of around Rs 260 crore. Netherlands EBITDA was higher by EUR 28 million QoQ, as we make progress on restoring competitiveness. However, UK EBITDA declined by GBP 24 million on QoQ basis due to subdued prices on account of UK safeguard quotas exceeding prevalent demand. We remain focused on volume growth in India, strengthening our raw material linkages and optimising capital allocation. We are closely monitoring policy developments in EU and UK and will look to prioritise, optimise and sequence the decarbonisation capex spend such that it is affordable to all stakeholders. Overall, operating cash flows before capex and dividend were ~Rs 7,000 crore and we have spent Rs 3,250 crore towards capital expenditure in the quarter and Rs 7,079 crore during the half year. In line with efforts to optimise debt portfolio, we have reduced TSUK debt by GBP 540 million during the quarter and our consolidated gross debt has decreased by around Rs 3,300 cores QoQ to Rs 95,643 crore. On 12th November, Tata Steel executed a share purchase agreement with BlueScope Steel to acquire the balance 50% stake in Tata BlueScope Steel Private Limited. This is in line with our objective to grow the downstream portfolio. Following the acquisition, TBSPL will become a 100% subsidiary of Tata Steel. We remain committed to operational excellence, cost optimisation, and disciplined working capital management to maximise cash flows.”

Result PDF

Electric Utilities company Tata Power Company announced Q2FY26 results

  • Revenue momentum continues: Q2FY26 Revenue up 3% to Rs 15,769 crore; H1FY26 up 4% to Rs 33,233 crore, driven by strong performance across core businesses EBITDA surges: Q2FY26 EBITDA increases 6% to Rs 4,032 crore; H1FY26 rises 11 % to Rs 7,961 crore, reflecting operating efficiency and well diversified portfolio.
  • Renewables business outperforms: Segment PAT up 70 % to Rs 511 crore in Q2FY26; EBITDA up 57% to Rs 1,575 crore, Revenue up 89% to Rs 3,613 crore reflecting strength of strategic investment in Solar Manufacturing and Rooftop business delivering stellar gains.
  • Solar Cell and Module manufacturing achieved output of 928 MW of Cells & 970 MW of Modules in Q2FY26. 809 MW of DCR modules dispatched in Q2, highest ever single quarter dispatch.
  • Global acknowledgement: TP Solar earns Bloomberg NEF Tier-1 manufacturer status, enhancing export prospects from its 4.3 GW Tirunelveli facility. Additionally, the plant is also included in ALMM List II.
  • Rooftop solar scales new highs: Order book stands at Rs 1,116 crore. Pan-India network of 644 channel partners and over 2000 retailers.
  • Transmission business overall PAT grew to Rs 120 crore (up 41 % YoY) in Q2FY26.
  • Distribution business overall PAT grew to Rs 557 crore (up 34 % YoY) in Q2FY26. The Company is actively exploring the upcoming opportunities in Power Distribution in Maharashtra, Goa and Uttar Pradesh
  • Strengthening regional energy security: Construction commenced for the 600 MW Khorlochhu Hydro Project in Bhutan in which Tata Power has 40% stake, part of a 5 GW clean energy partnership. The plant has signed loan agreement worth Rs 4,829 crore with PFC.
  • Firming up RTC renewable supply: Work commenced on 1,000 MW Bhivpuri PSP in Maharashtra to enable firm, dispatchable green power supply.

Praveer Sinha, CEO & Managing Director, Tata Power, said: “Tata Power has reported a robust performance in Q2FY26 and H1FY26, reflecting the strength of strategic initiatives and decisions taken by Company towards its integrated and diversified business model. Growth continues across conventional generation, clean energy, and consumer-focused distribution.

Tata Power is very well positioned to expand further with 10 GW of clean capacity under construction including a healthy pipeline of 5 GW Hybrid and FDRE projects. The Company’s backward-integrated solar manufacturing facilities are operating at full capacity, with ALMMlisted modules and cells supporting the “Make in India” clean energy push.

The rooftop solar segment continues to lead the industry with record installations, while our Discoms drive service excellence across a growing customer base of over 13 million. With proposed amendments to the Electricity Act, Tata Power is well positioned to expand its distribution footprint to 40 million consumers by 2030. As India’s power sector evolves, Tata Power remains committed to innovation, sustainability, and energy self-reliance across the value chain”.

Result PDF

Castings & Forgings company Bharat Forge announced Q2FY26 results

  • Revenue from Operations: Rs 40,319 million against Rs 36,886 million during Q2FY25.
  • EBITDA: Rs 7,154 million against Rs 6,895 million during Q2FY25.
  • PBT: Rs 4,582 million against Rs 3,857 million during Q2FY25.

B.N. Kalyani, Chairman & Managing Director, said: “The quarterly performance was impacted by the sharp decline in the North American truck production and the resulting inventory destocking. Standalone Revenues declined by 7.5% sequentially to Rs 1,947 crore, impacted by 16% drop in revenues to North America. CV exports to North America declined by 48% sequentially and 63% on a YoY basis. Because of the constant endeavor towards de-risking the business, the impact was minimized with EBITDA coming in at Rs 545 crore (EBITDA margins of 28%) and PBT of Rs 432 crore.

Consolidated revenue & EBITDA in Q2 came in at Rs 4,032 crore and Rs 715 crore respectively. The balance sheet remains robust with Cash of Rs 2,309 crore and ROCE (net) of 15.5%. Indian manufacturing, a key focus area and growth driver for the company registered revenues of Rs 2,746 crore and EBITDA of Rs 676 crore.

The company secured new orders worth Rs 1,582 crore including Rs 559 crore in Defence in H1FY26. As of H1FY26, the defence order book stood at Rs 9,467 crore. We have transferred all the Defence dedicated assets of Bharat Forge to our wholly owned subsidiary KSSL. On the business front we expect to conclude more order wins for platforms/ projects we have participated in.

The US & European operations saw weakness driven by seasonality and prevailing sentiments. Review of the European steel manufacturing footprint is on track, and we expect to have concrete measures in place by the end of this fiscal.

Given the challenging demand conditions in North America, we are witnessing exports into that region declining further in H2FY26. However, we expect the industrial business across India, exports to non-US geographies and ramp up in defence business to more than offset the weakness in US exports. Our India manufacturing operations focusing on capturing opportunities in Defence, Aerospace, Castings and Aggregates across markets continue to make steady progress in their journey.”

Result PDF

Finance company Bajaj Finance announced Q2FY26 results

Consolidated Financial Highlights

  • Number of new loans booked in Q2FY26 was 12.17 million as against 9.69 million in Q2FY25, a growth of 26%.
  • Customer franchise stood at 110.64 million as of 30 September 2025, compared to 92.09 million as of 30 September 2024, a growth of 20%. Customer franchise grew by 4.13 million in Q2FY26.
  • Assets under management (AUM) grew by 24% to Rs 462,261 crore as of 30 September 2025 from Rs 373,924 crore as of 30 September 2024. AUM grew by Rs 20,811 crore in Q2FY26.
  • Net interest income increased by 22% in Q2FY26 to Rs 10,785 crore from Rs 8,838 crore in Q2FY25.
  • Net total income increased by 20% in Q2FY26 to Rs 13,170 crore from Rs 10,946 crore in Q2FY25.
  • Operating expenses to net total income for Q2FY26 was 32.6% as against 33.2% in Q2FY25
  • Pre-provisioning operating profit increased by 21% in Q2FY26 to Rs 8,874 crore from Rs 7,307 crore in Q2FY25.
  • Loan losses and provisions increased by 19% in Q2FY26 to Rs 2,269 crore from Rs 1,909 crore in Q2FY25.
  • Annualised loan losses and provisions to average assets under finance for Q2FY26 was 2.05%.
  • Profit before tax increased by 22% in Q2FY26 to Rs 6,608 crore from Rs 5,401 crore in Q2FY25.
  • Profit after tax increased by 23% in Q2FY26 to Rs 4,948 crore from Rs 4,014 crore in Q2FY25.
  • Gross NPA and Net NPA as of 30 September 2025 stood at 1.24% and 0.60% respectively, as against 1.06% and 0.46% as of 30 September 2024. The provisioning coverage ratio on stage 3 assets was 52%.
  • Capital adequacy ratio (CRAR) (including Tier-II capital) as of 30 September 2025 was 21.23%. The Tier-I capital was 20.54%.

Standalone Financial Highlights

  • Assets under management grew by 23% to Rs 338,121 crore as of 30 September 2025 from Rs 275,043 crore as of 30 September 2024.
  • Net interest income increased by 21% in Q2FY26 to Rs 9,725 crore from Rs 8,054 crore in Q2FY25.
  • Net total income increased by 20% in Q2FY26 to Rs 11,942 crore from Rs 9,947 crore in Q2FY25.
  • Operating expenses to net total income for Q2FY26 was 33.7% as against 34.2% in Q2FY25.
  • Pre-provisioning operating profit increased by 21% in Q2FY26 to Rs 7,921 crore from Rs 6,550 crore in Q2FY25.
  • Loan losses and provisions increased by 17% in Q2FY26 to Rs 2,218 crore from Rs 1903 crore in Q2FY25.
  • Profit before exceptional gain and tax increased by 23% in Q2FY26 to Rs 5,703 crore from Rs 4,647 crore in Q2FY25. In Q2FY25, the Company had an exceptional gain of Rs 2,544 crore on account of sale of equity shares of BHFL pursuant to IPO of BHFL.
  • Profit after tax excluding exceptional gain and tax thereon increased by 24% in Q2FY26 to Rs 4,251 crore from Rs 3,433 crore in Q2FY25. In Q2FY25, the Company had an exceptional gain (net of tax) of Rs 2,181 crore on account of sale of equity shares of BHFL pursuant to IPO of BHFL.
  • Gross NPA and Net NPA as of 30 September 2025 stood at 1.59% and 0.77% respectively, as against 1.33% and 0.58% as of 30 September 2024. The Company has provisioning coverage ratio of 52% on stage 3 assets.

Result PDF

Aluminium Products company Hindalco Industries announced Q2FY26 results

  • Revenue: Rs 66,058 crore compared to Rs 58,203 crore during Q2FY25, change 13%.
  • EBITDA for the second quarter stood at Rs 9,684 crore, up 6% from Q2FY25.
  • Net Profit increased to Rs 4,741 crore, up 21% over Q2FY25.
  • EPS: Rs 21..35 for Q2FY26.

Satish Pai, Managing Director, Hindalco Industries, said: “Hindalco continued its growth momentum amid global volatility, delivering strong performance in both volumes and profitability. This performance was driven by robust contribution from India business, disciplined cost management and operational efficiencies across segments.

The Aluminium Upstream business continued to outperform with industry-best EBITDA margins of 45%. The Downstream segment reported a solid quarter with 69% EBITDA growth, supported by all-time high volumes and a superior product mix. The Copper business remained resilient, performing in line with our guidance even with lower TC/RCs. Novelis recorded a sequential improvement in both EBITDA and Net Income, despite net tariff impact partially offset by better pricing and accelerated cost efficiency initiatives.

Our integrated business model, prudent capital allocation and focus on cost optimisation, continues to enable us to deliver sustained, resilient growth across market cycles.

Our sustainability agenda remains focused on climate action, circularity through waste recycling, water stewardship and biodiversity protection.”

Result PDF

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