Siemens Energy India Limited Q3 FY2026: Revenue up 39.3% YoY to INR 2,486 Cr. and PAT up 67.8% YoY to INR 441 Cr

MD & CEO - SEIL, Guilherme Mendoca

• Revenue up 39.3% YoY to INR 2,486 crore; PAT up 67.8% YoY to INR 441 crore
• Profit from operations (%) improves by 430 bps YoY to 21.9%
• Order backlog up 16.4% YoY to INR 19,331 crore

Financial Summary

Particulars (INR crore, unless otherwise stated)	Quarter ended June '26	Quarter ended June '25	Change (%)	Nine months ended June '26	Nine months ended June '25	Change (%)
Order backlog	19,331	16,601	16.4	19,331	16,601	16.4
Revenue from operations	2,486	1,785	39.3	6,791	5,181	31.1
Profit from operations (EBIT)	545	314	73.6	1,437	963	49.2
Profit from operations (%)	21.9	17.6		21.2	18.6
Profit after tax	441	263	67.8	1,128	741	52.2
EPS (INR per share)	12.38	7.38		31.70	20.80

Revenue witnessed solid growth increasing 39.3% to INR 2,486 crore primarily supported by robust order backlog and execution. Profit from operations (%) also improved by 430 bps year-on-year to 21.9%, primarily driven by better operating leverage, higher export contributions, and disciplined order execution.

Management Commentary

Commenting on the Q3 FY2026 results, Guilherme Mendonca, Managing Director and Chief Executive Officer, Siemens Energy India Limited (SEIL), said, "Our strong Q3 FY2026 performance underscores the resilience of our business model and the disciplined execution of our strategy. Healthy revenue growth, expanding profitability, and a robust order backlog provide a solid foundation for sustained value creation. With India adding more than 30 GW of renewable energy capacity in the first half of CY2026 and power demand rising globally – driven by electrification, industrial growth, and AI-enabled data centers – the need for stronger, smarter, and more flexible energy infrastructure has never been greater. As a company committed to helping realize the Viksit Bharat vision, Siemens Energy India Limited is uniquely positioned to support this transformation through its innovative grid technologies, grid flexibilization solutions, and advanced power generation portfolio. Backed by technology leadership, local manufacturing capabilities, and execution excellence, we remain committed to enabling our customers' energy transition journeys, while delivering profitable and sustainable growth.”

About Siemens Energy India Limited

Siemens Energy India Limited (SEIL) is focused on supporting customers in transitioning to a more sustainable world. SEIL has solutions across the entire energy value chain – from power and heat generation, transmission to storage through a portfolio that includes conventional and renewable energy technology such as gas and steam turbines, hybrid power plants operated with hydrogen as well as power generators and transformers. More information is available at www.siemens-energy-india.com

Allcargo Logistics Reports Record Revenue and Margin Expansion in Q1FY27

PBT grows over 258% and EBITDA over 39% as both express distribution and contract logistics business records highest revenue

Allcargo Logistics Limited, an integrated logistics provider through its Domestic Supply Chain, Express Distribution and Consultative Logistics businesses, announced its consolidated financial results for the quarter ended June 30, 2026.

In the quarter, Allcargo Logistics Limited delivered strong revenues across both express distribution and contract logistics business, backed by healthy volume growth, pricing discipline, customer-centric execution, and sustained operational efficiencies. The company continued to strengthen its domestic logistics business through deeper customer engagement, higher adoption of digital capabilities, and focused cost optimisation initiatives.

Commenting on the results, Mr. Ketan Kulkarni, Managing Director and Chief Executive Officer, Allcargo Logistics Limited said: "Our Q1FY27 performance reflects the strength of disciplined execution across our businesses. Beyond achieving our highest-ever quarterly revenue in both express distribution and contract logistics, what is particularly encouraging is that this growth has been driven by a healthy combination of higher shipment volumes, stronger customer relationships and sustained operational improvements.

Over the past few quarters, we have invested significant effort in building a customer service quality through a more personalised account management approach. Our service equation-led pricing approach improved yields during the quarter, while over 99% service quality adherence has resulted in a strong customer retention rate. We have also expanded our footprint across diverse industry sectors. At the same time, we are progressively leveraging AI-driven analytics and data-led decision-making to enhance demand forecasting, optimise network planning, improve shipment visibility and enable faster, more informed operational decisions across our logistics network. Continuous network optimisation, improved routing efficiencies, disciplined cost management and better asset utilisation have strengthened our operating leverage and profitability.

Going forward, we will continue to accelerate the use of AI, digital technologies and data intelligence across our operations and build a more agile and resilient supply chain. We remain focused on delivering consistent service quality, expanding customer partnerships and driving profitable growth through disciplined execution while driving long-term value creation."

Financial Performance:

• EBITDA growth: 39% (₹20 Cr) year-on-year for Q1FY27
• Profit Before Tax: Rising by 258% (₹31 Cr), highest-ever quarterly revenue recorded across both express distribution and contract logistics businesses, supported by pricing stability and healthy volume growth

• Express Distribution: Registered increased Revenue growth of 13.5% year-on-year for Q1FY27, driven by improvement in operational performance and enhanced service quality
• Contract Logistics (CL): Registered increased Revenue growth of 6% year-on-year for Q1FY27, supported by efficiency led revenue growth with 99% service quality adherence resulting in a strong customer retention rate, expansion in footprint across diverse industry sectors and new business opportunities

Outlook:

Building on the momentum achieved during the first quarter, Allcargo Logistics Limited expects business activity to strengthen further in second and third quarters, especially during the upcoming festive season. The company remains focused on sustaining profitable growth through disciplined pricing, superior customer experience, operational excellence and deeper market penetration across both express distribution and contract logistics while continuing to maintain a prudent growth strategy.

About Allcargo Logistics Limited (Post NCLT Order)

Allcargo Logistics Limited under the composite Scheme of Arrangement has demerged its International Supply Chain (ISC) business and merged its Domestic Supply Chain business.

Domestic supply chain business houses express distribution and consultative logistics. Allcargo Logistics combines legacy, innovation, and customer-centricity with a robust distribution network, deep expertise, and a digital-first approach to provide reliable logistics for MSMEs, retailers, and enterprises. With a nationwide network covering 99% of India’s districts and a growing presence across Asia, the company offers unparalleled reach and service capability. Its key business verticals include:

• Express Distribution
• Air Freight
• E-commerce Logistics
• First and Last Mile Delivery

The company also offers specialized B2C services such as:

• Laabh
• Bike Express
• Student Express

Allcargo group stays true to its strong commitment to adhere to Environmental, Social, and Governance (ESG) standards and continues to direct efforts towards enhancing its people, technology as well as business processes and operations on a regular basis. The group has set out to achieve 100% carbon neutrality by 2040.

Allcargo Logistics Limited is listed on BSE Limited (Scrip Code: 532749) and National Stock Exchange of India Limited (Symbol: ALLCARGO).

For further information, contact: pr@allcargologistics.com
*************************

ArcelorMittal Delivers Strong Q2 2026 Results, Boosts Margins and Growth Outlook

ArcelorMittal (referred to as "ArcelorMittal" or the "Company" or the "Group") (MT (New York, Amsterdam, Paris, Luxembourg), MTS (Madrid)), the world's leading integrated steel and mining company, today announced results1 for the three-month and six-month periods ended June 30, 2026.

2Q 2026 key highlights:

Safety focus: Protecting employee health and safety is a core Company value. The multi-year safety transformation continues to deliver measurable improvements, with LTIF rate of 0.60x in 2Q'26.

Delivering structurally improved margins: The Group's results continue to demonstrate resilience; 2Q 2026 EBITDA of $2.1bn, which represents a margin of $155/t, significantly higher than historical per tonne averages, reflecting the benefits of strategic investments, optimized assets and diversified market exposures. Europe EBITDA per tonne improved by $28/t sequentially, with further upside expected as the benefits of the new TRQ trade tool are realized. Net income in 2Q 2026 was $0.7bn (basic EPS of $0.90/sh).

Financial strength: After returning $0.6bn to shareholders and net working capital investment, net debt increased modestly compared with the prior quarter to $9.5bn4. Liquidity7 remains robust at $10.4bn, and the Company's free cash flow outlook for 2026 and beyond remains unchanged.

Strong underlying cash generation, supporting shareholder returns and growth investment: The business generated $0.5bn of underlying free cash flow in 1H 2026, after investing $0.8bn in strategic growth projects and excluding the seasonal $2.0bn working capital investment. Given the positive prospects for 2H 2026 profitability, healthy cash generation in 2H 2026 should support continued returns to shareholders and lower net debt.

Capital return policy is creating significant value for shareholders: During 1H 2026, the Company returned $0.7bn to shareholders ($0.2bn dividends and $0.5bn share buybacks). Following the partial monetization of its Vallourec stake, the proceeds of which have been allocated to share buybacks, shareholder returns in 2026 are expected to exceed the policy minimum (i.e. quarterly base dividend of $0.15/sh plus 50% of post-dividend FCF allocated to buybacks). The fully diluted share count has been reduced by 38% since September 20205.

Strategic focus:

Positive outlook across the near, medium and long term: ArcelorMittal is well positioned to deliver value-accretive growth, with robust shareholder returns, whilst maintaining a strong investment-grade balance sheet. Our medium and long-term growth prospects are underpinned by a unique portfolio of opportunities. Alongside the next phase of our growth in India, the world's fastest-growing major steel market, the Company is currently reviewing potential downstream expansions in Brazil (leveraging our low-cost assets and long slab position), and further capacity growth in Liberia (leveraging existing infrastructure). Electrical steels is a core growth focus globally, with projects underway in the US and Europe, and opportunities under development in other key regions. We also see significant opportunities to further expand our renewable energy portfolio, generating more resilient, non-cyclical earnings while enhancing the competitiveness and sustainability of our steel business. Renewables is a key pillar of the Sustainable Solutions segment which remains on track to double its EBITDA by 2028 (vs. 2023).

Financial highlights (on the basis of IFRS1):

(USDm) unless otherwise shown	2Q 26	1Q 26	2Q 25	1H 26	1H 25
Sales	16,761	15,457	15,926	32,218	30,724
Operating income	1,055	753	1,932	1,808	2,757
Net income attributable to equity holders of the parent	683	575	1,793	1,258	2,598

Commenting, Aditya Mittal, ArcelorMittal Chief Executive Officer, said: "Today's results, with second quarter EBITDA per tonne of $155, demonstrate the continued evolution of our business towards structurally higher levels of profitability. A key element is the improved outlook for our European business. The implementation of the new tariff rate quota alongside CBAM is creating a more balanced competitive environment. With Europe volumes in the third quarter projected to be stable to higher compared with the second quarter - counter to normal seasonal trends - and positive momentum across our other businesses, we anticipate higher shipments in both the third quarter and the second half of the year, with all segments expected to outperform first-half volumes."

On safety, we are making encouraging progress. While there is more work to do, we are reporting a record low LTIF for the first half of the year, reflecting the growing impact of our safety transformation programme and the strong commitment of teams across the Group to create safer workplaces every day.

On 1st August, ArcelorMitttal will celebrate its 20th anniversary. Over the past two decades, we have expanded into some of the world's most attractive steel and mining markets, including India and Southern United States, enhancing the quality of our earnings and increasing our exposure to long-term growth drivers. Our strategic growth initiatives are a key differentiator and position us to create value well beyond the current cycle. From 2026 onwards, this project portfolio is expected to add a collective US$1.8 billion of incremental EBITDA. These projects increase our exposure to long-term growth themes including electrification, renewable energy and grid infrastructure.

Our growing pipeline of future growth opportunities, strengthening contributions from our strategic JV portfolio, and focus on disciplined capital allocation - all backed by an investment grade balance sheet - mean ArcelorMittal is well positioned to deliver structurally higher quality earnings and continue to provide attractive shareholder returns over the long-term. With steel reaffirming its critical importance as a material that supports not only economic growth, but also the energy transition and AI led infrastructure build out, we look forward to further growth, innovation and digitalization in the next decade and beyond."

Safety and sustainable development

Health and safety:

Protecting employee health and safety is a core Company value. The multi-year safety transformation continues to deliver measurable improvements, with an LTIF rate of 0.53x in 1H 2026 vs 0.66x in 1H 2025.

In 2026, the safety transformation program progressed into its implementation and scale-up phase, focused on embedding execution discipline and delivering consistent, high-quality safety performance across all regions. During 1H 2026, more than 8,000 leaders were assessed against the updated Health and Safety Competency Model, supporting a consistent One ArcelorMittal safety culture globally. In addition, an upgraded Contractor Health and Safety Management Standard was rolled out, establishing a consistent framework to strengthen contractor safety performance across all operations. These initiatives form part of the Company's ongoing efforts to achieve its ambition of zero fatalities and serious injuries.

Own personnel and contractors - Lost time injury frequency rate

	2Q 26	1Q 26	2Q 25	1H 26	1H 25
North America	0.28	0.15	0.29	0.21	0.26
Brazil	0.17	0.17	0.39	0.17	0.35
Europe	1.17	0.85	1.23	1.00	1.21
Sustainable Solutions	1.21	0.72	1.26	0.96	1.24
Mining	0.37	0.19	0.11	0.28	0.17
Others	0.48	0.49	0.54	0.54	0.50
Total	0.60	0.45	0.68	0.53	0.66

Sustainable development highlights:

Sustainable solutions: Continuing to build exposure to attractive low-carbon infrastructure growth markets. In June 2026, ArcelorMittal Building Solutions announced plans to construct a new manufacturing facility in the United States. Together with recent investments in India and Brazil, the facility will further strengthen ArcelorMittal's global presence in insulated panels for more energy-efficient buildings. These investments are expected to contribute approximately $0.1bn of incremental EBITDA by 2031 once fully ramped up.

Electrification is a structural growth driver for steel: Investments in electrification (wind power, solar power and grid expansion) currently targeted by various government policies could require 240-290Mt of steel ex-China through to 2035. ArcelorMittal is well positioned to capture growth through its portfolio of high-value add, high-margin products serving solar, wind, electrical steel and also transmission infrastructure markets.

Analysis of results for the six months ended June 30, 2026 versus results for the six months ended June 30, 2025

Sales for 1H 2026 increased by 4.9% to $32.2 billion as compared with $30.7 billion for 1H 2025, primarily due to 10.2% higher average steel selling prices partially offset by lower shipments.

Operating income for 1H 2026 was $1.8 billion, broadly stable with the underlying performance recorded in 1H 2025. 1H 2025 operating income of $2.8 billion included $1.0 billion of net exceptional gains (a $1.2 billion exceptional gain mainly related to the acquisition of Nippon Steel's 50% stake in AM/NS Calvert, partly offset by $0.2 billion of impairment charges related to the divestment of the Zenica integrated steel plant and Prijedor iron ore mining business in Bosnia).

Depreciation cost for 1H 2026 was $1,529 million, higher than $1,353 million in 1H 2025, primarily due to the consolidation of Calvert (since June 2025) and foreign exchange impact. 12M 2026 depreciation guidance remains unchanged at approximately $3.0 billion.

EBITDA increased by 8.8% to $3,743 million in 1H 2026 as compared to $3,440 million in 1H 2025, primarily driven by stronger results in Europe, North America (reflecting the impact of the Calvert acquisition) and the India and JVs segment partly offset by weaker results in Brazil and Mining.

Income from associates, joint ventures and other investments increased to $406 million in 1H 2026, as compared to $298 million in 1H 2025, reflecting stronger contributions from AMNS India and European investees partially offset by the full consolidation of Calvert since June 2025.

Foreign exchange and net financing charges amounted to $366 million in 1H 2026 as compared to an income of $123 million in 1H 2025 primarily on account of foreign exchange impacts. 1H 2026 was negatively impacted by a 3.0% appreciation of the US dollar against the Euro, while 1H 2025 benefited from a 12.8% depreciation of the US dollar against the Euro.

Net interest expense increased to $269 million in 1H 2026 as compared to $121 million in 1H 2025, primarily due to higher average gross debt (including impact from consolidation of Calvert) and lower interest income.

Net income in 1H 2026 of $1,258 million (EPS of $1.65/sh) compares to adjusted net income4 of $1,810 million (adjusted EPS of $2.37/sh) in 1H 2025.

Net cash provided by operating activities in 1H 2026 was $952 million as compared to $1,062 million in 1H 2025 and includes a working capital investment of $1,981 million as compared to $1,491 million in 1H 2025.

Analysis of results for 2Q 2026 versus 1Q 2026

Sales increased by 8.4% to $16.8 billion in 2Q 2026 as compared to $15.5 billion in 1Q 2026, primarily reflecting 4.4% higher average steel prices and 4.1% increase in steel shipments.

Operating income increased to $1.1 billion in 2Q 2026 as compared to $0.8 billion in 1Q 2026.

EBITDA increased by 22.9% to $2,064 million in 2Q 2026 as compared to $1,679 million in 1Q 2026, driven by improved performance across all steel segments.

Net income in 2Q 2026 increased to $683 million (EPS of $0.90/sh) as compared with $575 million (EPS of $0.76/sh) in 1Q 2026.

Net cash provided by operating activities in 2Q 2026 amounted to $1.0 billion (including a $0.5 billion investment in working capital) as compared to net cash used in operating activities in 1Q 2026 of $9 million (including a $1.5 billion seasonal investment in working capital). Capex totalled $1.1 billion (including strategic growth projects totaling $0.4 billion) for 2Q 2026 and $1.3 billion for 1Q 2026 (including strategic growth projects totaling $0.4 billion and $0.2 billion payment on signing the new Mineral Development Agreement in Liberia)10. Net debt increased to $9.5 billion as at June 30, 2026, as compared to $9.3 billion as at March 31, 2026. 

Pine Labs Q1 FY27: ₹737 Cr Revenue, 4X PAT Surge, Next-Gen UPI Credit Architecture Unveiled

Pine Labs said that its revenue grew 20% YoY to ₹737 Cr with Profit After Tax increasing 4X to ₹20 Cr from ₴5 Cr in Q1 FY26. Profit Before Tax grew to ₹38 Cr from a loss of ₹5 Cr in the same quarter last year. Contribution Margin held strong at 72.3% (₹533 Cr). Adjusted EBITDA reached ₴126 Cr (17.1% margin), with strategic investments in high-growth segments and continued technology/Al platform build-out. Platform processed approximately ₹4.22 lakh Cr (~$45 Bn) in GTV.

Merchants are digitizing; Pine Labs products increasingly relevant across the ecosystem

Consumer and merchant behavior is shifting decisively digital. Quarterly Platform GTV has held consistently above ~$45 Bn, a scale that reflects growing preference from merchants and banking partners to build on Pine Labs. The Digital Checkout Points base grew 18% YOY to 21.7 lakhs, with 70%+ of transactions now flowing through UPI-a structural signal that enterprise and mid-market merchants are increasingly adopting screen-based, UPI-first checkout surfaces. Every layer of the Pine Labs stack-payments, affordability, credit, engagement-is becoming more relevant as merchants build integrated, digital-first businesses.

Instore and Flow services: Pine Labs continues to hold dominant share in Enterprise merchants across India, with a ramped-up smart bill proposition and deepened merchant commerce services (ad-tech, campaigns, DCC, pay-by-link). The mid-market base accelerated 40%+ YoY with 1.3 lakh+ DCPs added-the fastest-growing segment-as merchants adopt integrated billing, payments, and affordability at SMB economics. Flow, Affordability, and Transaction Processing GTV grew 54%+ YoY to ₴91K Cr; UPI GTV accelerated 80%+ YoY and DCC GTV grew 40%+ YoY, translating merchant digitization into deeper flow-based monetization for Pine Labs.

Online-Winning Logos in Payments and Checkout: 40+ new online merchants were added in Q1 across quick commerce, e-commerce, D2C, travel, and enterprise. Pine Labs continues to gain dominance across the largest commerce platforms in India-commanding leading affordability and EMI processing positions with top quick-commerce and e-commerce players-while Shopflo Checkout drove ₹400+ Cr of D2C and SMB volumes in the quarter. Government footprint expanded with key wins including DMRC, and hospitality merchant volumes deepened across payouts and autopay.

International-Franchise continues to strengthen with multiple new logo additions across geographies: International revenue grew 21% YOY to ₹114 Cr (~16% of consolidated revenue) across 22 countries. Q1 saw meaningful validation of the platform overseas: scaling of the payment application with GCash in the Philippines (~20k deployments), new affordability programs launched in UAE and Singapore, expanded airline prepaid partnerships with British Airways and TAROM (Romania), the launch of the Suntec Mall Card program in Singapore, and continued scale-up of multi-year contracts with Emirates NBD and Wio Bank across the UAE, Saudi Arabia, and Egypt. Each new market entry follows the same disciplined "seed, land, and expand" playbook that underpinned growth in India.

Q1 FY27 Performance Scorecard

Issuing (IAP): Pine Labs continues to widen the Issuing and Acquiring platform (Revenue up 31% YOY; India up 24%, International up 47%) by opening new consumer categories. Gaming gift-card solutions went live with brands including Xbox, Roblox, and Nintendo-unlocking access to India's 500 Mn+ active gamers-while new prepaid programmes across employee benefits, wallets, and expense management platforms (BharatNXT, Chronon, VA Tech) came onstream. These new categories will scale up meaningfully through H2 FY27, adding a broader revenue base and helping accelerate growth.

Next-Generation Payments Architecture, Built on India's Rails

India remains the only market in the world where a public digital payments rail processes the volumes and reach that UPI does-and Pine Labs is building the next layer of financial infrastructure directly on top of it, ahead of most global markets. Two new primitives went live this quarter: a) P3P: India's first Agentic Payment Protocol, built with Grantex b) Credit Line on UPI embeds revolving, bank-issued credit directly into a consumer's UPI ID-turning UPI, until now a debit-only rail, into a credit-capable one.

"P3P and Credit Line on UPI aren't products-they're architectural primitives, built where the rest of the world hasn't caught up yet," said Amrish Rau, CEO, Pine Labs. "India built the public rails; we're building the intelligence and credit layer on top of them. That shifts us from a payments processor into the infrastructure layer that merchants, brands, and financial institutions build on."

Key Financials

Q1 FY27

Revenue from Operations
₴737 Cr
20% YoY

Contribution Margin
₹533 Cr
72.3% Margin

Adjusted EBITDA
₹126 Cr
17% Margin

Profit after Tax
₴20 Cr
4x YoY

Platform GTV
~45Bn (₹422k Cr)

Number of Transactions (#)
201 Cr

Digital Checkout Points (#)
21.7 Lakh

Number of Merchants (#)
11.5 Lakh

(1) Exchange rate $1= ₴ 94.7 (Avg. RBI reference rate for the quarter)

Dalmia Bharat Delivers 9% Volume Growth, Expands Capacity to 54.7 MnTPA Despite Cost Headwinds

Strong Performance despite Challenging Environment

Integration on Track for Acquired 5.2 MnTPA Cement Assets in Central Region

Key Highlights

• Installed cement capacity increased to 54.7 MnTPA with successful acquisition of 5.2 MnTPA capacity in Central Region
• Commercial production commenced at Chunar Grinding Unit in June; Trial run started at Rewa Clinker Unit in July
• Sales volume improved 9% YoY to 7.6 MnT
• Revenues from operations increased 7% YoY to Rs 3,890 Cr
• EBITDA per ton improved sequentially to Rs 1,055; EBITDA stood at Rs 805 Cr

Dalmia Bharat Limited, (BSE: 542216, NSE: DALBHARAT), a leading cement manufacturing company, reported its consolidated financial results for the quarter ended Jun 30, 2026.

Financial Highlights for the Quarter ended Jun 30, 2026

Particulars	Q1FY27	Q1FY26	YoY
Sales Volume (MnT)	7.6	7.0	9.0%
Revenue from Operations	3,890	3,636	7.0%
EBITDA	805	883	(8.8%)
EBITDA/T (Rs/T)	1,055	1,261	(16.4%)
PBT (before exceptional items)	436	502	(13.1%)
Exceptional items	(182)	16
PBT	254	518	(51.0%)
PAT	192	395	(51.4%)
Net Debt to EBITDA (x)	1.47x	0.33x

Exceptional items in Q1 FY27 primarily includes acquisition-related costs pursuant to Central cement assets

This quarter marks an important milestone with the acquisition of cement assets in the Central region, as we move firmly towards our aspiration of becoming a pan-India player. Our earlier association with these assets and the markets provides us a great head start. As we look ahead, our endeavour will be swift ramp up and embedding Dalmia’s cost leadership practices to unlock superior returns.

— Mr. Puneet Dalmia, Managing Director & CEO – Dalmia Bharat Limited

Despite temporary disruptions owing to state elections, we delivered a robust volume growth of 9% on a YoY basis. Supported by healthy price increases and focused initiatives across the business, we were able to offset the cost escalation meaningfully and deliver a robust EBITDA of Rs 1,055 per ton.

— Mr. Dharmender Tuteja, Chief Financial Officer – Dalmia Bharat Limited

Key updates

• Completed the acquisition of Jaiprakash Associates' cement undertaking, adding 5.2 MnTPA of cement capacity and 3.3 MnTPA of clinker capacity across four strategically located plants in Madhya Pradesh and Uttar Pradesh, at an EV of Rs 2,850 Cr.
• Successfully commenced commercial production at 2.5 MnTPA Chunar Grinding Unit on June 20, 2026; Trial run started at the 3.3 MnTPA Rewa Clinker Unit in July.
• Entered into Share Subscription and Shareholders’ Agreement and a Power Consumption Agreement to acquire 41% stake (26% on fully-diluted basis) in Oyster Green Hybrid Five Private Limited, an SPV of Oyster Renewable Energy Private Limited, in one or more tranches, at an aggregate consideration of approx. Rs. 17 Cr, to source Hybrid Power (Wind & Solar) as a captive consumer for its Kadapa plant.

Key Recognitions during the quarter

• CII-ITC Sustainability Award – DBL commended for ‘Significant Achievement’ in Manufacturing sector under Excellence for Corporate Social Responsibility
• FAME India Awards 2026 – Multiple Awards by various units (JCW, KCW, GCW and Umrangso) on Excellence in Health & Safety, Environment, Sustainability and CSR
• Kalinga Environment Excellence Award – 5 Star award for Excellence in Environment stewardship, Operational Excellence and Sustainable Growth to Rajgangpur and Gold category to KCW Unit in social impact, sustainable development & positive change in communities

About Dalmia Bharat:

Founded in 1939, Dalmia Bharat Limited (BSE/NSE Symbol: DALBHARAT) is one of India’s pioneering cement companies headquartered in New Delhi. With a growing capacity, currently pegged at 54.7 MnT, Dalmia Bharat Limited (including its subsidiaries) is the fourth-largest cement manufacturing company in India by installed capacity. Spread across 12 states and 19 manufacturing units, Dalmia Bharat Limited prides itself at having one of the lowest carbon footprints in the cement industry globally. It is the first cement company to commit to RE100, EP100 & EV100 (first triple joiner) – showing real business leadership in the clean energy transition by taking a joined-up approach. Visit us at https://www.dalmiacement.com. 

Navi Finserv Q4FY26 Profit Surges 344% to ₹135 Crore; FY26 Net Profit Up 32% on Tech‑LED Lending Scale

Navi Finserv Limited reported a strong improvement in profitability for the quarter and financial year ended March 31, 2026, reflecting continued focus on portfolio quality, disciplined underwriting, collections efficiency and technology-led operational scale across its lending business.

For Q4 FY26, standalone net profit rose 344.54% year-on-year to ₹134.83 crore, compared to ₹30.33 crore in the corresponding quarter last year. Revenue from operations for the quarter increased 44.06% year-on-year to ₹738.19 crore.

For the full financial year FY26, standalone net profit rose 31.64% to ₹292.21 crore, while annual revenue from operations grew 8.36% to ₹2,461 crore.

Commenting on the performance, Abhishek Dwivedi, MD & CEO, Navi Finserv Limited, said: “Over the last few years, we have stayed focused on building a financial services business with strong operating fundamentals and long-term sustainability at its core. Our performance reflects continued discipline across underwriting, collections, risk management and execution efficiency. As the financial ecosystem matures, we believe institutions that combine technology, responsible growth and operational discipline will be best positioned to build durable customer trust over time.”

Over FY26, Navi Finserv continued investing in technology infrastructure, automation and data-led underwriting capabilities to improve customer experience and operational efficiency across its lending platform.

India’s financial services ecosystem continues to see strong structural tailwinds driven by increasing formalisation, deeper digital adoption and broader access to credit. Navi Finserv believes these shifts will continue creating long-term opportunities for technology-led financial institutions focused on sustainable scale and responsible growth.

About Navi Finserv:

Navi Finserv is an NBFC registered with RBI and categorized as an ‘NBFC-middle layer’ pursuant to Scale Based Regulations and a wholly owned subsidiary of Navi Limited (formerly Navi Technologies Limited).

Navi Limited (formerly known as Navi Technologies Limited) is a digital-first financial services company on a mission to make finance simple for every Indian. As one of India’s fastest-growing financial destinations, Navi offers an easy-to-access suite of financial services (directly and through partners) including loans, insurance, mutual funds, and UPI payments.

With millions of users across the country, Navi combines in-house technology with deep consumer insight to create financial solutions that are intuitive, accessible, and reliable. Navi serves customers across their financial journeys with a single, integrated experience.

Headquartered in Bengaluru, Navi is committed to building a modern financial destination that is built on transparency, speed, and trust.

For more information, visit: https://navi.com

Allcargo Terminals FY26 Profit Surges 46% on Record Volumes

• Allcargo Terminals Reports 46% Y-o-Y Growth in FY26 PAT; Net Profit Rises 46%
• Volumes increased to 7.23Lakh TEUs, a 7% Y-o-Y Growth

Allcargo Terminals Limited has announced its financial results for the year ended March 31st, 2026. The company reported a consolidated net profit of ₹44 crore in FY26, registering a strong 46% year-on-year growth over the previous year. EBITDA has increased to ₹162 crore, reflecting a 26% year-on-year rise. Annual volumes also recorded healthy growth, increasing to 7.23 lakh TEUs, representing a 7% year-on-year increase.

Summary of Consolidated Financial Results.

(₹ in Cr)

Particulars (in ₹Crs)	Q4FY26	Q4FY25	Y-o-Y (%)	FY26	FY25	Y-o-Y (%)
Revenue	208	186	12%	821	758	8%
EBITDA	44	33.5	31%	162	128	26%
Profit After Tax (PAT)	8.8	-2.4	NA	44	30	46%

Suresh Kumar R, Managing Director, Allcargo Terminals Limited, said: FY26 was a year of strong progress and purposeful groundwork toward ATL’s three-year ambition. Supported by India’s growing EXIM momentum and our focused capacity expansion at key ports, PAT grew 46% over the previous year. Our continued emphasis on operational excellence further strengthened customer confidence across markets and enabled us to achieve our highest-ever annual volumes.

In line with our strategic priorities, we enhanced capacity at one of our two JNPT facilities and secured a ten-year extension for the other. Construction of the PFT-ICD at Farukhnagar also commenced in Q4, marking another important milestone in our growth journey.

We are well positioned for the future and remain committed to contributing meaningfully to India’s expanding EXIM ecosystem and logistics infrastructure development.

ABOUT ALLCARGO TERMINALS LIMITED.

Allcargo Terminals Limited (ATL) demerged from Allcargo Logistics, an India-born global leader in multimodal logistics solutions and is an independent entity listed in the Indian stock exchanges in August 2023. ATL offers India’s widest CFS networks and specializes in Container Freight Stations (CFS) and Inland Container Depots (ICD), operates at the strategic locations of Nhava Sheva JNPT, Mundra, Chennai, and Kolkata. Its best-in-class digital app and portal, myCFS enables contact-less CFS services. ATL adheres to unparalleled safety and security standards, including OHSAS, ISO and GSV (C-TPAT-compliant). ATL is dedicated to meeting diverse logistical needs and is well positioned to explore opportunities in terminals, including multimodal logistics parks and other ventures. Allcargo Terminals Ltd listed on the BSE Limited (Scrip Code- 543954) and The National Stock Exchange of India Limited (Scrip Code- ATL).

Tata Motors Q4 FY26 Results: Record Revenue, Strong Margins, Landmark Growth

• CV Standalone Financials: Focus on profitable growth drives robust financial results
• Q4: Revenue ₹24.5K Cr (+22%), EBITDA at ₹3.4K Cr (+35%), PBT (bei) ₹3.0K Cr (up ₹1,089 Cr)
• FY26: Revenue ₹77.4K Cr (+11%), EBITDA at ₹10.2K Cr (+22%), PBT (bei) ₹8.7K Cr (up ₹2,721 Cr), FCF ₹9.2K Cr (up ₹2.2K Cr)

Tata Motors Ltd. (TML) announced its results for quarter and year ending March 31, 2026.

STANDALONE INCLUDING JOINT OPERATIONS TATA CUMMINS - KEY FINANCIALS

	Q4 FY25	Q4 FY26	FY25*	FY26	Q4 vs Q4 YoY	FY26 vs FY25 YoY
Revenue (Rs. Cr.)	19,999	24,452	69,419	77,399	4,453 (+22%)	7,980 (+11%)
EBITDA %	12.60%	13.90%	12.0%	13.20%	130 bps	120 bps
EBIT %	9.90%	12.10%	9.20%	11.00%	220 bps	180 bps
PBT (bei) (Rs. Cr.)	1,883	2,972	5,961	8,682	1,089 (+58%)	2,721 (+46%)
FCF (Rs. Cr.)	5,352	4,016	7,007	9,186	(1,336)	2,179

*Q1 FY25 numbers included within FY25 numbers are derived

Summary:

Tata Motors Standalone delivered a record Q4 FY26 performance and a strong full year, underpinned by disciplined execution and focus on profitable growth. Quarterly revenue stood at ₹24.5K Cr (+22%), with EBITDA at ₹3.4K Cr (+35%). The Company achieved teens EBITDA margin at 13.9% (+130 bps), ahead of its mid-term guidance. EBIT margin expanded to 12.1% (+220 bps). PBT (bei) for the quarter stood at ₹3.0K Cr (+58%). Profit after tax for the quarter was ₹2.4K Cr (+70%).

For the full year FY26, revenue stood at ₹77.4K Cr (+11%), with EBITDA of ₹10.2K Cr (+22%) and EBITDA margin at 13.2% (+120 bps). EBIT margin for FY26 stood at 11.0% (+180 bps). PBT (bei) for the full year came in at ₹8.7K Cr (+46%). Profit after tax for the year was ₹3.4K Cr (-23%) including the impact of ₹3.7K Cr on account of exceptional items.

Strong operational performance and efficient working capital management through the year resulted in consistent growth in full year Free Cash Flow of ₹9.2K Cr (+₹2.2K Cr). Net cash for the domestic business stood at ₹7.5K Cr as of March 31, 2026. Auto ROCE of 72% in FY26 (vs. 61% in FY25).

Consolidated financials:  Consolidated revenues for Q4 FY26 stood at ₹26.1K Cr (+19%). EBITDA margin stood at 13.1% (+150 bps) while EBIT margin came in at 11.5% (+230 bps). PBT (bei) for the quarter was ₹2.4K Cr (+29%) and Profit after tax stood at ₹1.8K Cr (+35%). As at March 31, 2026, the Company was Net Cash positive at ₹13.7K Cr. This included TMF Holdings gross debt less market value of TMF Holdings investments in Tata Capital Ltd.

For the full year FY26, consolidated revenues stood at ₹83.9K Cr. EBITDA margin was 12.3% and EBIT margin was 10.2%. Full year PBT (bei) was ₹6.1K Cr (+7%) while Profit after tax stood at ₹3.0K Cr (-24%), including the impact of ₹1.4K Cr. on account of exceptional items pertaining to New Labor Code, demerger related costs etc.

Dividends: The Board of Directors has recommended a final dividend of ₹4/- per share.

Corporate Actions:

Iveco update: Regulatory approvals for the proposed acquisition of Iveco are underway. Tata Motors expects to complete the transaction by Q2 FY27.

Business Highlights for the year:

• CV segment wholesales for Q4 FY26 stood at 132K units (+25%). For FY26, total wholesales were 428K units (+14%).
• Domestic & Export volumes up by 12% and 54% YoY respectively.
• Overall domestic CV VAHAN market share for FY26 stood at 35.7%. HCV 55.0%, ILMCV 39.5%, SCV 26.8%, Passenger 36.4%
• Launched 17 Next-Generation Trucks
• Launched Ace Pro range
• Secured order for 70,000 Yodha and Ultra T.7 Vehicles for Indonesia
• Won pan-India orders of over 5,000 buses
• Pantnagar plant wins Golden Peacock award
• Won Top honours at Apollo CV Awards 2026

Leadership Commentary:

FY26 marked a clear inflection point for the commercial vehicles industry, with volumes surpassing the pre-FY19 peak, supported by GST 2.0 reforms and sustained infrastructure spending.

— Girish Wagh, MD & CEO, Tata Motors Ltd.

FY26 marked a strong financial performance with robust EBITDA, profit and free cash flow. EBITDA margins in Q4 FY26 crossed 'teens' at 13.9% while full year FCF translated to ~12% of revenue.

— GV Ramanan, CFO, Tata Motors Ltd.

Additional Commentary on Financials (Consolidated Numbers, IND AS)

• Finance Costs dropped to ₹166 Cr in Q4 FY26 vs ₹319 Cr in Q4 FY25.
• Free Cash Flow for Q4 FY26 was ₹8.0K Cr and full year ₹12.4K Cr.
• Net cash as at 31st March 2026 was ₹13.7K Cr (including leases ₹798 Cr).

NODWIN Gaming Reports INR 658 Cr Revenue in FY26, Delivers EBITDA Profitability and Accelerates IPO Readiness

NODWIN Gaming, a global leader in gaming, esports, and youth entertainment, announced its financial results for FY26, reporting consolidated revenues of INR 658 crore, representing a 25% organic year-on-year growth over FY25. The company also reported an EBITDA profit of INR 21 crore for FY26, compared to an EBITDA loss of INR 14 crore in FY25, marking a significant financial turnaround as it advances toward IPO readiness.

The improvement in profitability was driven by a combination of strategic portfolio restructuring, including the de-consolidation of loss-making subsidiary Freaks4U, alongside strong performance across NODWIN’s live events, content, and IP businesses.

NODWIN has continued to evolve its business model around two interconnected verticals: Live and Content. Its live business spans festivals, esports tournaments, fan conventions, and brand activations, while the content business includes broadcast, scripted, and digital programming. The company’s operating model is built around a flywheel where content drives fandom and community engagement, which in turn fuels monetisation opportunities across live experiences, partnerships, commerce, and new IP creation.

This integrated approach has helped NODWIN deepen engagement with youth audiences across emerging markets while building a diversified and scalable revenue engine.

The company remains focused on the Global South as its core execution market while continuing to generate revenue opportunities across international markets. Today, NODWIN operates through offices and partnerships spanning South Asia, Southeast Asia, Central Asia, the Middle East, Africa, and Europe.

FY26 saw strong momentum across NODWIN’s flagship live entertainment portfolio. NH7 Weekender returned with a sold-out edition in Pune following its relaunch as the “Festival of India,” reinforcing its position as one of the country’s leading music and youth culture IPs. Comic Con India also expanded significantly during the year, growing from eight to eleven cities, with new rollouts across Kochi, Guwahati, Gurugram, and Jaipur, in addition to newer expansions including Chennai and Pune.

Globally, NODWIN continued to deepen its esports and live entertainment footprint through initiatives including the Swahili Esports Champions 2026 in Uganda and the execution of Live Matters Hong Kong 2026. Further strengthening its position within the international esports ecosystem, NODWIN Gaming was also appointed as India’s official National Team Partner for the inaugural Esports Nations Cup 2026, where the company will be responsible for mobilising and managing the Indian contingent representing the country at the tournament.

The company also expanded its portfolio of gaming and entertainment partnerships during the year. Key developments included the launch of MLMS in partnership with MOBA Legends, the delivery of OMEN activations at CES 2026, and execution of the PUBG Mobile Club Open Eastern Europe 2026.

NODWIN’s strategic investments also began yielding larger ecosystem outcomes in FY26. Its investment in StarLadder contributed to the successful execution of the Counter-Strike Major in Budapest.

As part of its IPO preparedness journey, NODWIN has continued strengthening its institutional and leadership capabilities. Over the past year, the company brought in senior leadership and strategic expertise through the appointments of Manish Agarwal, Arnd Benninghoff, and Sidharth Kedia to support long-term growth, capital strategy, governance, and public market readiness.

The company is also currently engaged in discussions with strategic and financial investors as part of its ongoing capital raise initiatives aimed at supporting future expansion.

Alongside growth, NODWIN has continued focusing on balance sheet discipline and capital efficiency by actively divesting or impairing assets that are not expected to contribute meaningfully to long-term value creation.

Operationally, FY26 also marked a year of internal efficiency improvements. The company implemented a disciplined headcount strategy while continuing to scale output across business verticals. NODWIN also expanded its internal AI initiatives during the year, deploying over ten AI-led workflow tools across finance, HR, legal, sales, and production functions to improve execution speed and operational productivity.

Akshat Rathee, Co-founder and MD of NODWIN Gaming and an industry evangelist

Akshat Rathee, Co-Founder and Managing Director, NODWIN Gaming, said: “This has been an important milestone year for NODWIN. As we prepare for scaling up globally and our potential IPO, we have focused on building a stronger and more efficient business. We continue to scale our presence across youth culture and live entertainment across our Content and Live business lines that span gaming, esports, music and future tech. We continue to believe the opportunity ahead lies in building a global youth entertainment company rooted in the global south and emerging markets, strong community engagement, diversified monetisation, and scalable cultural IPs.

As we continue strengthening our institutional structure and capital strategy, we remain focused on long-term value creation and will focus on organic and inorganic growth through deep Founder and Company integration across all we do. We pride ourselves on the fact that we retain our founders' post earnouts and the new missions they start help us grow organically globally.”

NODWIN Gaming continues to position itself as a leading youth entertainment infrastructure platform operating at the intersection of gaming, esports, creators, live experiences, and digital culture. With a growing international footprint and expanding portfolio of owned and operated IPs, the company remains focused on increasing its share of youth engagement across high-growth markets globally.

Nazara FY26 EBITDA Soars 66% as Gaming Drives 90% of Profits, Margins Nearly Double

• FY26 Revenue at INR 1,829 Cr (+13% YoY); EBITDA rises 66% to INR 255 Cr
• Q4FY26 EBITDA margins nearly double to 19.5%
• Gaming contribution rises to 90% of EBITDA as Nazara sharpens gaming focus

Nazara Technologies Limited, India’s only listed gaming company, today announced its audited financial results for the quarter and financial year ended March 31, 2026.

FY26 was a pivotal year for Nazara, with revenues reaching INR 1,829 crores and EBITDA growing 66% to INR 255 crores. Momentum accelerated through the year, with Q4FY26 EBITDA margins reaching 19.5%, up nearly 970 basis points year-on-year. Nazara generated a pre-tax OCF of INR 213 crores up 81% YoY, driven by an 84% EBITDA to OCF conversion ratio. In Q4FY26, Nazara reported revenues of INR 398 crores, a decline of 24% year on year on account of de-consolidation of Nodwin from August 2025. Adjusted for Nodwin, revenue increased by 8%. The company recorded quarterly EBITDA of INR 78 crores, a year on year growth of 52% and an EBITDA margin of 19.5%. 

EBIDTA contribution from Gaming increased from 56% in FY25 to 90% in FY26 as the company refocused on its high margin, core gaming business. Nazara is converging toward a globally diversified gaming platform across mobile, PC & console, and offline gaming, with exposure spanning India, North America and Europe.

Nazara's IP portfolio is meaningfully larger. The acquisition of Bluetile and BestPlay Nazara's largest M&A to date - adds 17 casual mobile IPs and 22 million monthly active users to the Nazara platform. Once consolidated, the acquisition will add significant revenue and EBITDA scale to Nazara in FY27.

Nazara's existing IPs are also performing better. Kiddopia sustained subscriber growth for the second consecutive quarter with improved unit economics. Animal Jam expanded margins while extending onto Roblox. Fusebox successfully scaled its narrative engine across multiple reality-TV IPs, with further launches planned in FY27. PC & Console game Human Fall Flat published by Nazara crossed 58 million lifetime units globally.

The operating system behind all of this is Nazara's COE playbook. The Centres of Excellence Nazara built across User Acquisition, Data Analytics, Artificial Intelligence, Growth and Product are now platform capabilities embedded across the full game lifecycle. Every gaming IP Nazara owns and increasingly every IP it acquires plugs into the same system.

Commenting on the results, Nitish Mittersain, Joint MD & CEO of Nazara Technologies, said,

FY26 was a pivotal year for Nazara. We delivered our highest-ever EBITDA at INR 255 crores, with EBITDA growing 66% year-on-year and Q4 EBITDA margins reaching 19.5%. Nazara today operates at a materially different scale than it did 12 months ago. The scale, quality and earnings capacity of the platform have expanded significantly. Operating leverage is real, and it is compounding. The years ahead are about scaling this platform globally.

Additionally, Nazara announced the appointment of Mithun Sacheti, Founder of CaratLane, as a Non-Executive Director and Muraarie Rajan as an Independent Director on its Board. Mithun brings deep entrepreneurial and consumer brand-building experience, while Muraarie brings over 35 years of global M&A and strategic advisory expertise.

Nazara enters FY27 with a significantly larger platform, improving operating leverage and a growing portfolio of global gaming IPs, while remaining focused on disciplined execution, scalable profitability and AI-enabled gaming infrastructure.

About Nazara Technologies

Nazara Technologies is India’s only publicly listed gaming company with diversified interests across mobile gaming, PC & console publishing, esports, gamified learning and offline entertainment. With operations across India, North America and Europe, Nazara is building a global gaming platform powered by strong IP, publishing and operating capabilities. Website: https://www.nazara.com

Tata Chemicals Posts ₹3,438 Cr Q4 Revenue, Recommends ₹11 Dividend Amid Global Soda Ash Headwinds

• Consolidated revenue from operations for the quarter ended March 31, 2026 at ₹ 3,438 Cr and EBITDA at ₹ 274 Cr
• Mithapur facility (India) achieved production of 1 MTPA of Soda Ash in FY26
• Board recommends dividend of ₹ 11 per share

Tata Chemicals Limited today declared its financial results for the quarter and year ended March 31, 2026.

Commenting on the results, R. Mukundan, Managing Director & CEO, Tata Chemicals Limited, said, "During Q4FY26 the global soda ash markets remained adequately supplied and the supply overhang continue to exert pressure on pricing. The challenging external environment amid ongoing geopolitical tensions in the Middle East led to uncertainty and limited visibility on any immediate change in market conditions.

Despite the challenging external environment, the Company's standalone performance has been supported by higher volumes and disciplined cost management, resulting in a resilient operating performance. Mithapur facility (India) achieved production of 1 MTPA of Soda Ash during FY26. However, the Company's consolidated performance has been sharply impacted by continuing unsustainable unremunerative prices across geographies particularly in Southeast Asia. In US, impairment charge of ₹ 1,837 Cr of goodwill & ₹ 182 Cr of deferred tax assets write-off recognized amidst the current soda ash export market conditions.

We successfully completed the acquisition of Novabay Pte. Limited, Singapore during the quarter, as announced earlier. This acquisition aligns with our strategy of expanding high-margin specialty chemicals and strengthening our presence in key global markets. It enhances our ability to offer differentiated, value-added solutions and supports our long-term growth agenda.

The Board also approved a ₹100 crore investment to debottleneck salt capacity at our Mithapur plant by 82,500 TPA. This will strengthen our core consumer products portfolio and support long-term, sustainable growth while meeting rising demand for high-quality iodised salt.

In the midst of a challenging and volatile operating environment, our focus remains resolutely on safeguarding margins, preserving cash flows, and maintaining a strong and resilient balance sheet. We are navigating this phase with prudence and disciplined capital deployment. These actions are aimed at reinforcing the Company's financial strength and positioning us to emerge from the current cycle with sustained stability and long-term value creation for our investors.

Consolidated Highlights Q4 FY26

• Revenue from operations at ₹ 3,438 Cr, down by 2% compared to Q4FY25, driven by lower realization (mainly due to lower exports from US), offset by higher volumes in India.
• EBITDA at ₹ 274 Cr as compared to ₹ 327 Cr in Q4FY25, mainly on account of subdued pricing across all geographies and increase in fixed cost (also due to steep depreciation of Indian Rupee) as compared to Q4FY25.
• An exceptional charge of ₹ 1,837 Cr is provided on account of impairment of goodwill in US & ₹159 Cr of deferred tax assets write off.
• Profit After Tax (before exceptional items and NCI) at ₹ (279) Cr compared to ₹ (12) Cr for Q4FY25.
• Net debt (without leases) as on March 31, 2026, stood at ₹ 5,961 Cr.
• 50 kT Electric calciner soda ash plant in Kenya was operationalized.
• Acquisition of Novabay Pte. Limited, Singapore completed on 19th March 2026.

Standalone Highlights Q4 FY26

• Revenue from operations stood at ₹ 1,254 Cr, up by 3% compared to Q4FY25 due to higher volumes.
• EBITDA at ₹ 216 Cr, down by 6% compared to Q4FY25, lower realization and increase in fixed costs.
• Profit After Tax from continuing operations was ₹ 48 Cr, down by 51% compared to Q4FY25.
• Mithapur Gujarat facility achieved production of 1 MTPA of Soda Ash in FY26.

Consolidated Highlights FY26

• Revenue from operations at ₹ 14,584 Cr, down by 2% compared to FY25, due to pricing pressure in all regions and lower volumes except India & Kenya.
• EBITDA at ₹ 1,805 Cr as compared to ₹ 1,953 Cr in FY25, on account of lower realization but supported by lower fixed cost (despite steep depreciation of Indian Rupee) including due to cessation of Lostock operations in UK.
• An exceptional charge of ₹ 1,956 Cr is provided on account of impairment of goodwill in US, impact of labour code in India and costs on account of UK Soda ash plant.
• ₹ 182 Cr of deferred tax assets write off in US.
• Profit After Tax (before exceptional items and NCI) at ₹ 241 Cr compared to ₹ 479 Cr for FY25.
• Non-Soda Ash revenue grown by 14% over FY25 in line with Company's focus to grow non-cyclical business.
• During the year, Pearl Silica facility with a capacity of 3,000 MTPA at Cuddalore, Tamil Nadu, and FOS L55 facility with a capacity of 4,500 MTPA at Mambattu were commissioned.
• 5 MW solar plant, Solar Pond and 50 kT Electric calciner soda ash plant in Kenya was operationalized.

Standalone Highlights FY26

• Revenue from operations stood at ₹ 4,831 Cr, up by 9% compared to FY25 due to higher volumes, however realisations impacted due to pricing conditions in markets.
• EBITDA at ₹ 954 Cr, up by 17% compared to FY25, effect of higher volumes and cost control measures taken.
• Profit After Tax (before exceptional items) from continuing operations was ₹ 620 Cr, up by 18% compared to FY25.

About Tata Chemicals Ltd.

A part of over US$ 180 billion Tata Group, Tata Chemicals Limited, is a leading supplier of choice to Glass, Detergent, Industrial and Chemical sectors. The company has a strong position in the crop protection business through its subsidiary company, Rallis India Limited. Tata Chemicals has world class R&D facilities in Pune and Bangalore.
Website: https://www.tatachemicals.com

Statement of Consolidated Financial Results for the quarter and year ended 31 March, 2026

Particulars	Quarter ended 31 Mar 2026 (Audited)	Quarter ended 31 Dec 2025 (Unaudited)	Quarter ended 31 Mar 2025 (Audited)	Year ended 31 Mar 2026 (Audited)	Year ended 31 Mar 2025 (Audited)
a) Revenue from operations	3,438	3,550	3,509	14,584	14,887
b) Other income	44	38	42	316	225
Total income (1a + 1b)	3,482	3,588	3,551	14,900	15,112

Tata Chemicals Limited Consolidated Segment wise Revenue, Results, Assets and Liabilities
a. Basic chemistry products	2,933	2,887	3,037	11,521	12,080
b. Specialty products	505	667	472	3,076	2,815

Particulars	As at 31 Mar 2026	As at 31 Mar 2025
Property, plant and equipment	9,920	8,073
Capital work-in-progress	1,014	1,879

Sr.No.	Particulars	Q4FY26	Q3FY26	Q4FY25	FY26	FY25
1	Operating Margin (%)	(2.01%)	1.46%	0.97%	4.14%	5.58%

Mahindra Finance PAT is Up by 55% for the Quarter at Rs. 873 Crore

The Board of Directors of Mahindra & Mahindra Financial Services Limited(Mahindra Finance), a leading provider of financial services for Bharat at its meeting held today,announced the audited financial results for the quarter and year ended March 31, 2026. The Boardhas proposed a final dividend of Rs.7.50 per fully paid equity share (375% of face value of Rs 2/- each)Vs Rs 6.50 per share in the last fiscal year.

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

Quarterly Performance:

Mahindra Finance PAT up 55% YOY for the quarter, post Q4 management overlay. The Company'sAUM grew by 12% YoY and disbursements grew by 11% YoY. NIM expanded by ~101 bps YoY at 7.5%and credit cost stood at 1.5% for Q4F26 (including overlay) vs 1.4% Q4F25.

Yearly Performance:

For the full year PAT is up by 19% YoY, post labour code and management overlays. Annualdisbursements grew 6% YoY. NIMs expanded during the year supported by higher Fee Income andlower Cost of Funds. Asset quality continued to be within guided range, with GS3 at 3.4% and GS2+GS3at 8.2%, underpinned by enhanced sourcing standards & collection efficiency. The credit cost at 1.7%(including overlays), underscores prudent risk management practices.

Q4 and Full Year FY26 Standalone Results:

Results (₹ Crores)	Q4 FY26	Q4 FY25	YoY %		FY26	FY25	YoY %
Disbursements	17,184	15,530	11%		61,118	57,900	6%
Business AUM	1,34,096	1,19,673	12%		1,34,096	1,19,673	12%
Total Income	4,810	4,245	13%		18,500	16,075	15%
Net Interest Margins (NIM)	2,739	2,156	27%		10,108	8,176	24%
NIM Margin %	7.5%	6.5%			7.1%	6.5%
Pre-Provisioning Operating Profit (PPOP)	1,722	1,213	42%		6,231	4,765	31%
Credit Costs	560	457	23%		2,441	1,618	51%
Credit Costs %	1.5%	1.4%			1.7%	1.3%
Profit After Tax	873	563	55%		2,782	2,345	19%
ROA %	2.4%	1.7%			2.0%	1.9%

Capital Adequacy healthy at 18.8%, Tier-1 Capital at 16.7%. Prudent Provision Coverage on GS3 at 59%through creation of management overlay. Total liquidity buffer comfortable over ~ ₹ 9,100 crores.

Wipro Announces Results for the Quarter and Year Ended March 31, 2026

Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading AI-powered technology services and consulting company, announced financial results under International Financial Reporting Standards (IFRS) for the quarter and year ended March 31, 2026.

• Adjusted net income grew 3.7% QoQ in Q4’26 and 2.2% YoY for FY’26
• FY’26 margin at 17.2%, expands 0.2%; Q4 margin at 17.3%, contracts 0.2% YoY
• Operating cash flow at 90.1% of net income for Q4’26 and 112.6% for FY’26
• Board approves Buy-Back for the value of ₹150 billion

Quarter Ended March 31, 2026

Metric	Result
Gross Revenue	₹242.4 billion ($2,583.0 million), +2.9% QoQ, +7.7% YoY
IT Services Revenue	$2,651.0 million, +0.6% QoQ, +2.1% YoY
Net Income	₹35.0 billion ($373.2 million), +12.3% QoQ, -1.9% YoY
EPS	₹3.34 ($0.041), +12.1% QoQ, -2.1% YoY
Operating Cash Flow	₹31.7 billion ($338.2 million), 90.1% of Net Income

Year Ended March 31, 2026

Metric	Result
Gross Revenue	₹926.2 billion ($9.9 billion), +4.0% YoY
IT Services Revenue	$10,478.1 million, -0.3% YoY
Net Income	₹132.0 billion ($1,406.5 million), +0.5% YoY
EPS	₹12.6 ($0.131), +0.3% YoY
Operating Cash Flow	₹149.3 billion ($1,591.3 million), 112.6% of Net Income

Outlook for the Quarter ending June 30, 2026

Wipro expects revenue from its IT Services business segment to be in the range of $2,597 million to $2,651 million*. This translates to sequential guidance of (-)2.0% to 0% in constant currency terms. 

* Outlook for the Quarter ending June 30, 2026, is based on the following exchange rates: GBP/USD at 1.34, Euro/USD at 1.17, AUD/USD at 0.70, USD/INR at 92.35 and CAD/USD at 0.73

CEO & CFO Commentary

Srini Pallia, CEO: “Advancements in AI are reshaping client priorities... pivoting to a services-as-a-software model through the AI Native Business & Platforms unit.”

Aparna Iyer, CFO: “We have continued to invest in our clients, capabilities and people... Board announced buyback of ₹15,000 Cr at a price of ₹250, subject to shareholder approval.”

Capital Allocation

The Board of Directors approved the buyback proposal, subject to the approval of  shareholders through postal ballot, for purchase by the Company of up to 60,00,00,000 equity shares of ₹ 2 each (being 5.7% of total paid-up equity share capital) from the shareholders of the Company on a proportionate basis by way of a tender offer at a price of ₹ 250 ($2.661) per equity share for an aggregate amount not exceeding ₹ 150 billion ($1.6 billion1) , in accordance with the provisions contained in the Securities and Exchange Board of India (Buy-back of Securities) Regulations, 2018 and the Companies Act, 2013 and rules made thereunder.

The interim dividend of ₹11 declared in FY’26 by the Board at its meetings held on July 17th, 2025 and January 16th, 2026, shall be considered as final dividend for the financial year 2025-26.

Strategic Deal Wins

• US health insurer extended contract for IT modernization leveraging Wipro Intelligence™ platforms.
• Global tech leader renewed engagement for IT infrastructure and workplace services.
• Global medtech company selected Wipro to transform Post Market Surveillance.
• Major US retailer modernizing store associate experience with AI-enabled intelligence.
• ABB Group signed multi-year renewal for AI-powered workplace services.
• Capco engaged by UK energy trading company to establish Capability as a Service model.
• Prominent Southeast Asian manufacturer selected Wipro to establish Global Capability Center.

Analyst Recognition

• Leader in ISG Provider Lens™ - Advanced Analytics and AI Services 2025
• Leader in Everest Group’s Software Product Engineering Services PEAK Matrix® 2026
• Leader in Avasant’s Life Sciences Digital Services 2026 RadarView™
• Leader in ISG Provider Lens® - Digital Sustainability 2025
• Featured as Horizon 3 Market Leader in HFS Horizons: Next-gen IT Infrastructure Services 2026

IT Products

Period	Revenue	Results
Q4 FY26	₹2.5 billion ($26.9 million)	₹0.2 billion ($2.2 million)
FY26	₹6.9 billion ($74.0 million)	₹0.6 billion ($5.9 million)

Conference Call

Earnings call at 07:45 p.m. IST (10:15 a.m. U.S. ET). Webcast link: Conference Call

About Wipro Limited

Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading AI-powered technology services and consulting company focused on building innovative solutions that address clients’ most complex digital transformation needs. Leveraging our consulting-led approach and the Wipro Intelligence™ unified suite of AI-powered platforms, solutions and transformative offerings, we help clients realize their boldest ambitions to build intelligent and sustainable businesses. The Wipro Innovation Network – part of the Wipro Intelligence™ suite – underpins our commitment to client-centric co-innovation and co-creation by bringing together capabilities from the innovation labs and partner labs, academia, and global tech communities.  With over 230,000 employees and business partners across 65 countries, we deliver on the promise of helping our customers, colleagues, and communities thrive in an ever-changing world. For additional information, visit us at www.wipro.com.

Forward-Looking Statements

Statements regarding growth prospects, financial results, and plans are subject to risks and uncertainties... Additional risks described in SEC filings.