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Nifty Rural Results: Latest Quarterly Results & Analysis

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L&T Finance Ltd. 24 Apr 2026 19:09 PM
Result PDF

Q4FY26 & FY26 Result Announced for L&T Finance Ltd.

Finance company L&T Finance announced Q4FY26 & FY26 results

Q4FY26 Standalone Financial Highlights:

  • Total Income: Reported at Rs 4,921.16 crore, a growth of 7.41% QoQ from Rs 4,581.71 crore and a growth of 22.28% YoY from Rs 4,024.43 crore.
  • Net Profit: Reported at Rs 947.09 crore, an increase of 29.49% QoQ from Rs 731.42 crore and a growth of 50.20% YoY compared to Rs 630.59 crore.
  • Earnings Per Share (EPS): Basic EPS stood at Rs 3.78 for the quarter, an increase of 29.45% QoQ from Rs 2.92 and 49.41% YoY from Rs 2.53.
  • Total Comprehensive Income: Reported at Rs 990.74 crore, reflecting a growth of 38.23% QoQ and 55.08% YoY.

Q4FY26 Consolidated Financial Highlights:

  • Total Income: Reported at Rs 4,771.10 crore, an increase of 4.14% QoQ from Rs 4,581.49 crore and a growth of 18.47% YoY from Rs 4,027.22 crore.
  • Net Profit: Reported at Rs 809.16 crore, up 9.64% QoQ from Rs 737.99 crore and up 27.26% YoY from Rs 635.84 crore.
  • Earnings Per Share (EPS): Basic EPS stood at Rs 3.22, up 9.15% QoQ and 26.27% YoY.
  • Total Comprehensive Income: Reported at Rs 852.84 crore, representing an increase of 17.91% QoQ and 32.41% YoY.

FY26 Standalone Financial Highlights:

  • Total Income: Stood at Rs 18,054.20 crore for FY26, a growth of 13.33% YoY compared to Rs 15,930.12 crore in FY25.
  • Net Profit: Reported at Rs 3,100.31 crore, showing a growth of 18.43% YoY from Rs 2,617.81 crore.
  • Net Cash Flows: Net cash used in operating activities was Rs (14,236.69) crore, compared to Rs (16,608.17) crore in the previous year.
  • Earnings Per Share (EPS): Basic EPS for the year was Rs 12.40, a growth of 18.10% YoY from Rs 10.50.
  • Dividend: Recommended a final dividend of Rs 2.75 per Equity Share (27.5% of face value Rs 10).

FY26 Consolidated Financial Highlights:

  • Total Income: Stood at Rs 17,917.03 crore for FY26, showing a growth of 12.39% YoY compared to Rs 15,940.98 crore in FY25.
  • Net Profit (Attributable to Owners): Reported at Rs 2,981.18 crore, a growth of 12.77% YoY from Rs 2,643.66 crore.
  • Net Cash Flows: Net cash used in operating activities was Rs (14,189.24) crore, compared to Rs (16,587.47) crore in the previous year.
  • Earnings Per Share (EPS): Basic EPS for the year was Rs 11.92, a growth of 12.35% YoY from Rs 10.61.

Business Highlights:

  • New Business Entry: The Board approved entering the business of pre-paid instruments (wallets and cards) and acting as a Third-Party Application Provider, subject to regulatory approvals.
  • Fund Raising: Approved raising funds via non-convertible debentures (NCDs) up to an aggregate amount of Rs 1,23,500 crore. Also approved the issuance of cumulative compulsorily redeemable non-convertible preference shares up to Rs 6,012 crore.
  • Acquisition: On June 9, 2025, the company acquired the gold loan business of Paul Merchants Finance Private Limited (PMFL) for a total consideration of Rs 711.93 crore.
  • Labour Code Impact: The group accounted for an estimated one-time incremental impact as an Exceptional Item amounting to Rs 28.51 crore (Consolidated) and Rs 28.43 crore (Standalone) due to the recognition of past service costs under the New Labour Codes.
  • Asset Quality: Standalone Gross Stage 3 assets stood at 3.41% as of March 31, 2026, compared to 3.69% in the previous year. Net Stage 3 assets improved to 1.44% from 1.84% YoY.
  • Capital Adequacy: Standalone Capital Adequacy Ratio (CRAR) stood at 18.84% as of March 31, 2026.
  • Appointments: Appointed Mr. Sachinn Joshi (as CFO and Whole-time Director for 2 years) and Mr. Raju Dodti (as Whole-time Director for 3 years), effective upon regulatory approvals.

Sudipta Roy, Managing Director & CEO, LTF, said: “FY26 has been a good year for us, despite significant headwinds in our microfinance business in the initial months of the year and the end of the year closing with geopolitical tensions. Through the course of the year, we remained steadfast in our approach—tightening credit and risk administration frameworks, strengthening collections infrastructure, accelerating our AI-led technology transformation and continuously focusing on growth across all our business lines. On the microfinance business, our focus was on navigating the cycle with prudence and our efforts have yielded results, with business parameters across both disbursements and collection efficiencies now reverting to near pre-crisis levels, giving us confidence that FY27 will be a stable and productive year for this segment.

FY26 also marks the successful completion of our Lakshya 26 strategic plan, achieving most of our stated objectives even amid volatility in the credit environment. This reflects the resilience of our diversified franchise, disciplined execution, and the strength of the digital and analytics capabilities that we built during the plan period. As we embark on our next five-year strategic roadmap, Lakshya 31, we are setting ourselves ambitious and measurable targets to drive consistent growth with improved profitability. While global geopolitical uncertainties persist, we remain confident that the solid foundation established during the Lakshya 26 period will enable us to deliver steady outcomes and create long-term value for all stakeholders and truly transform L&T Finance into a Risk-first, Technology-first, Multi-product Retail Financier of Choice.”

Result PDF

Result PDF

Mahindra & Mahindra Financial Services announced Q4FY26 & FY26 results

Q4FY26 Standalone Financial Highlights:

  • Total Income: Reported at Rs 4,810.07 crore for the quarter, an increase of 13.31% YoY from Rs 4,245.09 crore and a growth of 0.98% QoQ from Rs 4,763.22 crore.
  • Total Revenue from operations: Reported at Rs 4,799.96 crore, showing a YoY growth of 13.19% compared to Rs 4,240.80 crore and a QoQ growth of 0.98% compared to Rs 4,753.59 crore.
  • Interest Income: Stood at Rs 4,462.06 crore, up 11.07% YoY from Rs 4,017.23 crore and 1.25% QoQ from Rs 4,407.12 crore.
  • Profit for the period (Net Profit): Reported at Rs 872.98 crore, a significant increase of 55.02% YoY from Rs 563.14 crore and a growth of 7.72% QoQ from Rs 810.44 crore.
  • Basic EPS: Stood at Rs 6.28 for the quarter, compared to Rs 4.43 YoY (up 41.76%) and Rs 5.83 QoQ (up 7.72%).

Q4FY26 Consolidated Financial Highlights:

  • Total Income: Reported at Rs 5,559.52 crore, an increase of 13.53% YoY from Rs 4,896.84 crore and a QoQ increase of 1.74% from Rs 5,464.32 crore.
  • Total Revenue from operations: Stood at Rs 5,538.73 crore, showing a YoY growth of 13.37% from Rs 4,885.63 crore and a QoQ growth of 1.63% from Rs 5,449.84 crore.
  • Interest Income: Reported at Rs 4,773.35 crore, up 10.39% YoY from Rs 4,324.05 crore and 1.35% QoQ from Rs 4,709.81 crore.
  • Net Profit (attributable to Owners): Reported at Rs 938.02 crore, a substantial growth of 105.16% YoY from Rs 457.22 crore and 13.82% QoQ from Rs 824.16 crore.
  • Basic EPS: Stood at Rs 6.75 for the quarter, compared to Rs 3.59 YoY (up 88.02%) and Rs 5.93 QoQ (up 13.83%).

FY26 Standalone Financial Highlights:

  • Total Income: Reported at Rs 18,500.28 crore for the full year, a growth of 15.09% YoY from Rs 16,074.69 crore.
  • Total Revenue from operations: Reported at Rs 18,445.59 crore, up 15.15% YoY from Rs 16,018.95 crore.
  • Interest Income: Stood at Rs 17,211.69 crore, an increase of 12.26% YoY from Rs 15,331.41 crore.
  • Net Profit: Reported at Rs 2,782.23 crore for the year, a growth of 18.64% YoY from Rs 2,345.04 crore.
  • Basic EPS: For the full year, EPS was Rs 20.35, an increase of 10.42% from Rs 18.43 in the previous year.
  • Dividend: The Board has recommended a dividend of Rs 7.50 per equity share of face value Rs 2 each (375%) for the financial year ended March 31, 2026.
  • Cash Flow: Net cash used in operating activities was Rs 11,205.50 crore for FY26, compared to Rs 15,281.43 crore used in FY25.

FY26 Consolidated Financial Highlights:

  • Total Income: Reported at Rs 21,086.73 crore for the full year, up 13.80% YoY from Rs 18,530.46 crore.
  • Total Revenue from operations: Reported at Rs 21,005.37 crore, an increase of 13.77% YoY from Rs 18,463.10 crore.
  • Interest Income: Reported at Rs 18,428.11 crore, an increase of 11.24% YoY from Rs 16,566.40 crore.
  • Net Profit (attributable to Owners): Stood at Rs 2,854.53 crore for the year, showing a growth of 26.20% YoY from Rs 2,261.87 crore.
  • Basic EPS: Reported at Rs 20.88 for FY26, an increase of 17.44% from Rs 17.78 in FY25.
  • Cash Flow: Net cash used in operating activities was Rs 12,772.18 crore for FY26, compared to Rs 15,601.88 crore used in FY25.

Business Highlights:

  • Asset Quality: Standalone Gross Stage-3 Assets % improved to 3.41% as of March 31, 2026, compared to 3.69% in the previous year. Net Stage-3 Assets % improved to 1.44% from 1.84% YoY.
  • Provision Coverage: Provision Coverage Ratio for Stage-3 assets (PCR %) improved significantly to 58.55% as of March 31, 2026, compared to 51.16% as of March 31, 2025.
  • Capital Adequacy: The Standalone Capital Adequacy Ratio stood healthy at 18.84% as of March 31, 2026.
  • Rights Issue: The Company successfully completed a Rights Issue during the year (June 2025), issuing 15,44,41,240 equity shares and raising Rs 2,996.16 crore, which increased the parent company’s (Mahindra & Mahindra Limited) shareholding to 52.49%.
  • In-principle Merger Approval: The Board has given in-principle approval to evaluate the merger of Mahindra Rural Housing Finance Limited (MRHFL), a 98.43% owned subsidiary, with the Company.
  • Labour Codes Impact: The Company recorded an exceptional item of Rs 117.33 crore (Standalone) and Rs 132.95 crore (Consolidated) during the year, representing the estimated incremental impact of Gratuity and Leave Encashment due to the notification of "new Labour Codes".
  • Co-lending: During the year, the Company undertook co-lending arrangements as an Originator (Vehicle loans) and as a Partner (LAP, Unsecured loans to MSMEs), with outstanding disbursements totaling Rs 36.11 crore and Rs 12.73 crore respectively under these models.

Raul Rebello, MD & CEO, Mahindra Finance said: "This year’s progress across growth, margins and risk was driven by disciplined execution and resulted in a tangible step-up in profitability. Continued investments in our core vehicle franchise, new growth categories, and technology will support sustainable growth and profitability”.

Result PDF

Finance company Shriram Finance announced Q4FY26 & FY26 results

Q4FY26 Financial Highlights:

  • The Net Interest Income for Q4FY26 increased by 15.58% and stood at Rs 6,994.08 crore as against Rs 6,051.19 crore in Q4FY25.
  • The profit after tax increased by 40.86% and stands at Rs 3,013.57 crore as against Rs 2,139.39 crore recorded in Q4FY25.
  • he earning per share (basic) increased by 40.77% and stands at Rs 16.02 as against Rs 11.38 recorded in Q4FY25.

FY26 Financial Highlights:

  • The Net Interest Income for FY26 increased by 14.09% and stood at Rs 26,051.44 crore as against Rs 22,835.09 crore for FY25.
  • The profit after tax stands at Rs 9,998.15 crore as against Rs 9,761.00 crore (including exceptional item) in FY25.
  • The earning per share (basic) increased by 20.80% and stands at Rs 53.15 as against Rs 44.00 (excluding exceptional gain) recorded in FY25.
  • Assets under Management: Total Assets under Management as on 31st March, 2026 increased by 14.85% and stood at Rs 302,273.75 crore as compared to Rs 263,190.27 crore as on 31st March, 2025 and Rs 291,709.03 crore as on 31st December, 2025.
  • Dividend: The Board of Directors has recommended a final dividend of Rs 6/- per equity share of face value of Rs 2/- each fully paid up i.e. 300%, for FY26 subject to approval by Members in the ensuing 47th Annual General Meeting (47th AGM) of the company.

Result PDF

Green & Renewable Energy company Adani Green Energy announced Q4FY26 & FY26 results

Q4FY26 Financial Highlights:

  • Total income: Rs 3,727 crore against Rs 3,278 crore during Q4FY25, change 14%.
  • PBT: Rs 488 crore against Rs 410 crore during Q4FY25, change 19%.
  • PAT: Rs 514 crore against Rs 383 crore during Q4FY25, change 34%.
  • EPS: Rs 2.33 for Q4FY26.

FY26 Financial Highlights:

  • Total income: Rs 13,819 crore against Rs 12,422 crore during FY25, change 11%.
  • PBT: Rs 1,584 crore against Rs 1,771 crore during FY25, change -11%.
  • PAT: Rs 1,987 crore against Rs 2,001 crore during FY25, change -1%.
  • EPS: Rs 9.65 for FY26.

Sagar Adani, Executive Director, Adani Green Energy, said: “FY26 was a landmark year in Adani Green’s history. The company on the back of robust project and operational excellence, commissioned 5.1 GW of greenfield capacity, thereby reaching 19.3 GW of total operational capacity. It is the highest greenfield annual capacity expansion globally by any company (outside China). This milestone not only consolidates our leadership position in India’s renewable energy sector but also puts us in a different orbit of execution excellence. Our flagship Khavda project, the world’s largest renewable energy plant, continues to make significant progress. On the battery storage side, we installed 1.4 GWh of capacity in FY26, which is one of the world's largest single-location BESS deployment and will complement our contract mix to take us closer to building a resilient and future-ready energy ecosystem. Our Pumped Hydro Storage Project (PSP) in Andhra Pradesh is also progressing well.

AGEL’s 19,294 MW of operational portfolio will power more than 8.7 million homes and avoid about 36 million tonnes of CO2e emissions annually. The continued recognition of our ESG efforts reaffirms our commitment to sustainable growth and accelerating India’s energy transition.”

Result PDF

Telecom Services company Tata Communications announced Q4FY26 & FY26 results

Q4FY26 Financial Highlights:

  • Gross Revenue: Rs 6,554 lakh against Rs 5,990 lakh during Q4FY25, change 9%.
  • EBITDA: Rs 1,284 lakh against Rs 1,122 lakh during Q4FY25, change 14%.
  • EBITDA Margin: 19.6% for Q4FY26.
  • PAT: Rs 263 lakh against Rs 761 lakh during Q4FY25, change -65%.
  • PAT Margin: 4% for Q4FY26.

FY26 Financial Highlights:

  • Gross Revenue: Rs 24,803 lakh against Rs 23,109 lakh during FY25, change 7%.
  • EBITDA: Rs 4,822 lakh against Rs 4,569 lakh during FY25, change 6%.
  • EBITDA Margin: 19.4% for FY26.
  • PAT: Rs 1,044 lakh against Rs 1,625 lakh during FY25, change -36%.
  • PAT Margin: 4.2% for FY26.

Ganesh Lakshminarayanan, MD & CEO Designate, Tata Communications, said: “Q4 has been a strong quarter with our digital portfolio continuing to drive data growth. Our balance sheet strengthened further, with net debt-to-EBITDA improving to below 2x. This quarter, we had some interesting deal wins around network transformation, multi-cloud connectivity and employee interaction capabilities for enabling GCCs. These reflect the inherent strength of Tata Communications’ ability to serve global enterprises through a unified, scalable digital infrastructure for the AI era. This, along with our benchmark NPS scores positions us as truly global Communications Technology player in the making.”

Result PDF

SBI Life Insurance Company announced Q4FY26 & FY26 results

Q4FY26 Financial Highlights:

  • Net Premium Income: Rs 27,68,379 lakh against Rs 23,86,071 lakh during Q4FY25, change 16%.
  • PBT: Rs 81,578 lakh against Rs 84,061 lakh during Q4FY25, change -3%.
  • PAT: Rs 80,464 lakh against Rs 81,351 lakh during Q4FY25, change -1%.

FY26 Financial Highlights:

  • Private Market leadership in Individual New Business Premium and Individual Rated Premium with market share of 25.5% & 22.9% respectively.
  • Annualized Premium Equivalent (APE) stands at Rs 242.7 billion with growth of 13%.
  • Individual New Business Sum Assured stands at Rs 4,463 billion with 61% growth.
  • Improvement in 13M & 49M persistency by 53 bps & 107 bps respectively.
  • Value of New Business (VoNB) stands at Rs 66.7 billion with growth of 12%.
  • VoNB Margin stands at 27.5% • Indian Embedded value (IEV) stands at Rs 807.9 billion with 15% growth.
  • Profit After Tax (PAT) stands at Rs 24.7 billion with 2% growth.
  • Operating Return on Embedded Value stands at 19.7%.
  • Assets under Management stands at Rs 4.9 trillion with 9% growth.
  • Robust Solvency ratio of 1.90.

Amit Jhingran, MD & CEO, SBI Life, said: The life insurance industry witnessed improved momentum during FY26, supported by recent regulatory measures and a gradual shift in customer preference towards protection-oriented products. The exemption of GST on individual policies enhanced affordability and supported demand during the period.

The Company’s product mix reflected evolving customer preferences, with balanced contributions from ULIPs, participating and non-participating savings products, while the Par and retail protection segments recorded strong YoY premium growth. The Company reported stable Value of New Business (VNB) margins along with steady VNB growth during FY26.

SBI Life Insurance remains focused on maintaining a balanced approach to growth and profitability. The Company continues to strengthen its product portfolio, distribution capabilities and operational efficiencies, while adhering to prudent risk management practices. As one of the leading private life insurers in India, SBI Life remains committed to enhancing insurance penetration and delivering long-term value to all stakeholders.

Result PDF

Electrical Equipment & Products company Havells India announced Q4FY26 & FY26 results

Q4FY26 Financial Highlights:

  • Revenue from operations: Rs 6,705.2 crore against Rs 6,543.56 crore during Q4FY25, change 2%.
  • PBT: Rs 917.61 crore against Rs 700.89 crore during Q4FY25, change 31%.
  • PAT: Rs 723.39 crore against Rs 517 crore during Q4FY25, change 40%.
  • EPS: Rs 11.52 for Q4FY26.

FY26 Financial Highlights:

  • Revenue from operations: Rs 22,527.77 crore against Rs 21,778.06 crore during FY25, change 3%.
  • PBT: Rs 2,209.57 crore against Rs 1,990.49 crore during FY25, change 11%.
  • PAT: Rs 1,689.25 crore against Rs 1,470.24 crore during FY25, change 15%.
  • EPS: Rs 26.95 for FY26.

Result PDF

Packaged Foods company Nestle India announced Q4FY26 & FY26 results

Q4FY26 Financial Highlights:

  • Total sales and domestic sales for the quarter increased by 23.4% and 23.1%,
  • Domestic sales crossed Rs 6,445 crore.
  • EBITDA margin stood at 26.3%

FY26 Financial Highlights:

  • Total Sales of Rs 23,071.5 crore.
  • EBITDA at 23.0% of Sales.
  • Net Profit of Rs 3,544.6 crore.
  • Robust Cash Generated from Operations at Rs 5,047.6 crore.
  • Earnings Per Share of Rs 18.38.
  • Final Dividend recommended Rs 5.00 per equity share.

Manish Tiwary, Chairman & Managing Director, Nestle India, stated: “I am pleased to share that this quarter, Nestle India delivered high double-digit growth and recorded its highest-ever domestic sales, at Rs 6,445 crore. This performance was powered by double-digit volume growth, driven by over 50% increase in advertising spends, whilst delivering a healthy EBITDA margin of 26.3%.

Total sales and domestic sales for the quarter increased by 23.4% and 23.1%, respectively. Encouragingly, all product groups contributed to this performance. I extend my sincere appreciation to our colleagues for their steadfast teamwork and shared sense of purpose, as we continued to serve consumers amidst a demanding external environment. Penetration and premiumization, combined with disciplined resource allocation and strong execution, have been key in driving growth.

During the financial year ended 31st March 2026, we remained focused on the fundamentals and executed with resilience, delivering double-digit, volume-led growth alongside strong market share gains. Over the last five years, our power brands MAGGI noodles consistently maintained its leadership position in the market, while KITKAT and NESCAFE have accelerated their market share growth.

We progressed on our structural cost-efficiency agenda and delivered our highest-ever operational cost savings, which enabled higher reinvestments behind brands, accelerated digital, tech-enabled capabilities across sales and operations. We maintained tight discipline on profitability and cash generation and continued to upgrade and expand capacity prudently to meet growing consumer and customer demand and support future growth. Technology was leveraged to eliminate costs that did not add value to consumer and customers. These structural cost savings created headroom to channel those savings back into brand investment, higher advertising, consumer facing activation, stronger penetration and distribution.

Confectionery product group grew at a high double-digit pace in both value and volume underpinned by strong underlying transaction growth across our powerhouse brands. Increased distribution, enhanced freshness through the visicooler programme and a slew of innovations helped sustain this momentum.

The Powdered and Liquid Beverages product group achieved another year of high double-digit growth, driven by increased coffee penetration, accelerated premiumization, and deeper category relevance across consumer segments, supported by strong brand equity and an expanded footprint.

Prepared Dishes and Cooking Aids product group posted strong volume-driven growth, fuelled by engaging urban consumers and expanding rural reach, leading to gains in both market share and penetration.

Milk Products and Nutrition product group showed resilience, delivering steady growth. We expanded portfolio accessibility and value by introducing new and larger pack sizes across to support consumer needs.

The Pet food business reported high double-digit growth, driven by a strong innovation pipeline to expand penetration and trials, wider distribution and a sharper focus on building deeper bonds between pets and pet parents.

NESPRESSO continued its growth path with the opening of the second boutique in India in Gurugram that has resonated well with coffee connoisseurs.

I am pleased to report that all our business channels recorded strong double-digit growth.

Nestle Professional (Out-of-Home) delivered sustained, penetration-led, volume-driven growth, reinforcing its position as one of Nestle India’s fastest-growing businesses.

We continued to execute an omni-channel strategy aligned to the evolving retail ecosystem, scaling e-commerce and quick commerce, strengthening modern trade and chain pharmacy, and sustaining growth through general trade across semi-urban and rural markets. Priorities remained focused on improving in-stock availability, reducing lead times and enhancing execution consistency through sharper channel-wise assortment and pack roles, closer partner collaboration and technology-enabled replenishment.

In rural markets, we strengthened our route-to-market and accelerated reach expansion through a focused approach anchored on Infrastructure, Product Portfolio, Technology, Visibility, Consumer Communication and People. This integrated approach delivered a strong scale-up in total reach across geographies, supporting the highest reach increase among industry peers, driven primarily by rural markets — expanding our presence to ~216,000 villages and sharpening the focus from adding outlets to improving the effectiveness of coverage and execution quality.

As we look forward, we will focus on four key priorities:

  • Consumer centricity.
  • Penetration-led volume growth.
  • Reinvestment behind brands and capacity.
  • Accelerating tech-led sales and operations.

At the heart of delivering these priorities are our people—creating an environment where they are empowered to act fast, stay focused and remain flexible, and where bolder, bigger and better innovations can thrive. We are strengthening capabilities to leverage technology, shift time to higher-value work and deliver greater impact. Our people remain central to the business, bringing creativity and judgement to serve consumers and customers.

True to our commitment to making a meaningful impact, we continue to advance our societal initiatives through strengthening rural development, education and livelihood enhancement, scaling feeding programmes, and improving water and sanitation. During one of my visits to Nuh district in Haryana, I met Payal, a 12-year-old student in Class 8 at our village adoption programme. She spoke about her ambition to become an IPS officer. Moments like these reaffirm my faith in the immense possibilities that India holds. They also remind us why initiatives such as village adoption matter, because they help create the conditions for young people like Payal to dream bigger and go further.

Guided by our purpose, we create shared value by consistently serving consumers responsibly. Across Nestle India, our teams continue to advance the Good for Planet roadmap through robust governance and rigorous execution—advancing responsible sourcing, resource-efficient factories and strengthening water stewardship across our operations.

I extend my gratitude to Nestle India’s Board members for their guidance and support. Our consumers, customers, suppliers, distributors and retailers for their continued partnership. Our shareholders for their trust and confidence. We remain committed to delivering sustainable, long-term value and staying future-ready."

Result PDF

PNB Housing Finance announced Q4FY26 & FY26 results

  • Assets Under Management scaled beyond Rs 90,000 crore milestone, reaching Rs 90,921 crore as of FY26, reflecting a 13%YoY growth.
  • Retail Loan Asset grew by 16% YoY to Rs 86,946 crore as on 31st March 2026, which is 99.5% of the Total Loan Asset.
  • Affordable and Emerging Markets segment grew by 28% YoY and contributes 40% to the Retail Loan Asset.
  • Q4FY26 overall disbursements increased by 36% YoY and 50% QoQ to Rs 9,355 crore, including Rs 335 crore from the disciplined re?entry into the Corporate lending segment.
  • Retail disbursements clocked an all-time high of Rs 9,020 crore in Q4FY26.
  • Net profit for Q4FY26 grew by 19% YoY to Rs 656 crore whereas for FY26 Net Profit grew by 18% YoY to Rs 2,291 crore, led by healthy improvement in operating leverage.
  • Spread during the quarter moderated by 10 bps sequentially to 2.12% on account of softening of yield by 25 bps to 9.47% due to lower incremental yield vs book yield.
  • Our Q4FY26 cost of borrowing improved by 15 bps sequentially to 7.35%.
  • Net interest margin improved by 6 bps in Q4FY26 to 3.69% compared to 3.63% during previous quarter.
  • Achieved significant milestone on asset quality with Gross NPA reduced to <1% levels at 0.93% as on 31st March 2026.
  • Recoveries from written-off pool of Rs 332 crore in FY26 resulted in a negative credit cost of -0.45%.
  • ROA improved by 10 bps YoY to 2.66% and ROE improved by 54 bps YoY to 12.73%.
  • The total number of branches stands at 393 as on 31st March 2026, with 37 additions in FY26.
  • Capital Risk Adequacy Ratio stood at 27.26% as on 31st March 2026; Tier I at 26.89%.
  • The Board of Directors recommended a dividend of Rs 8 per equity share having face value of Rs 10/- for FY26, subject to the shareholder’s approval at the ensuing Annual General Meeting.

Ajai Shukla, Managing Director & CEO said: “FY26 marked a year of resilient and balanced growth for the Company, reflecting the strength of our strategy and focused approach. We delivered a healthy expansion in our retail loan portfolio along with sustaining robust asset quality and profitability. The continued focus on disciplined collections and portfolio management resulted in GNPA improving to sub-1% levels. Our Return on Asset improved during the year, supported by strong financial performance and prudent management practices.

The successful restart of our corporate lending business during the year represents a key strategic milestone and reinforces our confidence in calibrated, risk-aligned growth opportunities. Technology remained a critical enabler across the organisation, driving operational efficiencies and enabling a more seamless, transparent, and superior customer experience.

Aligned with our core purpose of enabling home ownership, we reached an important milestone during the year by facilitating over 5,000 subsidy benefits for our customers under the Pradhan Mantri Awas Yojana (PMAY-U 2.0). As we look ahead, we remain steadfast in our role as a responsible housing finance institution, committed to nation-building by enabling more home ownership dreams across geographies and income segments.”

Result PDF

HDFC Life Insurance Company announced Q4FY26 & FY26 results

Q4FY26 Financial Highlights:

  • Net Premium Income: Rs 25,998.42 crore against Rs 23,842.99 crore during Q4FY25, change 9%.
  • PBT: Rs 489.7 crore against Rs 485.94 crore during Q4FY25, change 1%.
  • PAT: Rs 497.49 crore against Rs 475.36 crore during Q4FY25, change 5%.

FY26 Financial Highlights:

  • New Business in terms of Annualized Premium Equivalent (APE) grew 8% YoY, translating into a healthy two-year CAGR of 12%.
  • Overall industry market share at 11.0%.
  • Value of New Business (VNB) for FY26 stood at Rs 4,034 crore, with margins of 24.2%; Excluding GST and surrender regulation impact, VNB grew broadly in line with APE; New business margins for FY26, excluding impact of GST and Surrender regulations would have been flat at 25.5%.
  • Retail protection registered robust growth of 46% during Q4FY26, translating to 43% growth for the period FY26; Retail protection mix expanded by nearly 200 basis points YoY to 7.2% in FY26, and including riders, protection now contributes nearly 10% of our retail business.
  • Retail sum assured grew by 28% YoY, and we maintained our leadership position on overall sum assured, reinforcing the quality of our business mix.
  • Assets under Management (AUM) including that of our wholly owned subsidiary HDFC Pension Fund Management stood at Rs 5.3 trillion.
  • Persistency ratios were stable, with 13-month and 61-month persistency at 85% and 64% respectively. These trends reflect the underlying product and tier mix. Renewal collections grew 15% YoY.
  • Embedded Value (EV) stood at Rs 62,139 crore, with an operating RoEV of 15.0% ; Normalised operating RoEV, excluding impact of GST, labour code and surrender regulations stood at 15.4%.
  • Profit after tax grew by 6% to Rs 1,910 crore, for the period 12MFY26. Excluding one-time labour code and GST impact, underlying PAT growth for the year stood at 16%.
  • Solvency Ratio was at 177%; We have taken Board approval to raise up to Rs 1,000 crore by way of a preferential issue to our parent, HDFC Bank to augment our solvency position.

Vibha Padalkar, Managing Director & CEO, HDFC Life, said: “During FY26, we continued to maintain our position among the top three private insurers by individual WRP. Our private sector market share stood at 15.2% for 11MFY26. We outperformed the broader industry in 2 key focus areas: The first one being retail protection which grew 43%, and the second one being agency channel which also grew ahead of industry.

Retail sum assured growth for 11MFY26 was higher than the industry, reinforcing the quality of our business mix. Retail Protection was a clear highlight during the year, with growth of 43%, supported by lower pricing post GST and a strengthened product portfolio. Annuities were another area of meaningful progress. Looking ahead, we expect a gradual shift in the product mix as customers rebalance toward long-term savings and protection in an environment of greater uncertainty.

The ongoing build-up of the agency channel was another strong story of the year. Agency grew ahead of the company by 500 bps, maintaining a strong protection mix. We believe our focus on continued investments in distribution, product competitiveness, partner engagement positions and pricing discipline us well to deliver more sustainable and profitable growth as the environment normalises.”

Result PDF

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