📈 Q2 FY26 Results Highlights India: Record Profits and Strong Growth Across Sectors

India Inc. reported another robust earnings season in Q2 FY26, with several companies delivering record-breaking performance across industries — from chemicals and manufacturing to financial services, cement, and entertainment.

This detailed report summarizes and analyses the Q2 FY26 results of major Indian listed companies, including IndiaMART, 360 One WAM, Pondy Oxides, Polycab, PVR Inox, Ami Organics, and more, offering investors a clear picture of sectoral strength and growth trends.

🔹 1. 360 One WAM Ltd (#360OneWAM)

Focus: Wealth Management | Financial Services

• Highest ever Revenue, EBITDA, PBT, and PAT in company history.
• Revenue: ₹1,107 Cr vs ₹893 Cr (YoY) | ₹980 Cr (Q1 FY26)
• PBT: ₹413 Cr vs ₹314 Cr | ₹374 Cr (Q1)
• PAT: ₹315 Cr vs ₹243 Cr | ₹285 Cr (Q1)
• ARR: ₹554 Cr ⬆️ 39% YoY

Insight:
Strong inflows and portfolio management income boosted performance. The company continues to expand its client base with high recurring revenues.

Investor takeaway: Consistent growth and strong margins make 360 One WAM a top wealth management play in India.

🔹 2. Pondy Oxides and Chemicals Ltd (#POCL)

Focus: Specialty Chemicals | Recycling

• Blockbuster Q2 FY26 🔥
• Revenue: ₹640 Cr vs ₹579 Cr (YoY) | ₹602 Cr (Q1)
• PBT: ₹46 Cr vs ₹21 Cr | ₹34 Cr (Q1)
• PAT: ₹34 Cr vs ₹15 Cr | ₹25 Cr (Q1)
• OCF: ₹117 Cr vs -₹81 Cr

Insight:
The company achieved its highest-ever financial performance, driven by strong demand for lead and tin-based products. A massive OCF turnaround reflects improving working capital efficiency.

🔹 3. PVR Inox Ltd (#PVRInox)

Focus: Media & Entertainment

• Revenue: ₹1,823 Cr vs ₹1,622 Cr | ₹1,469 Cr (Q1)
• PBT: ₹143 Cr (profit after two loss-making quarters)
• PAT: ₹106 Cr (positive turnaround)
• Operating Margin: 33.5% vs 29.3%
• OCF: ₹1,137 Cr vs ₹987 Cr

Insight:
Strong content lineup and increased footfalls revived profitability. Operational margins expanded significantly.

🔹 4. Ami Organics & Acutaas Chemicals (#Acutaas)

Focus: Pharma Intermediates | Specialty Chemicals

• Record Q2 FY26 🔥
• Revenue: ₹305 Cr vs ₹243 Cr | ₹206 Cr (Q1)
• PBT: ₹97 Cr vs ₹50 Cr | ₹59 Cr (Q1)
• PAT: ₹73 Cr vs ₹38 Cr | ₹45 Cr (Q1)
• OCF: ₹138 Cr vs ₹47 Cr

Insight:
The company continues to expand into new product lines with high-margin exports, contributing to both top-line and bottom-line growth.

🔹 5. Polycab India Ltd (#Polycab)

Focus: Cables & Wires | Electrical Manufacturing

• Revenue: ₹6,477 Cr vs ₹5,498 Cr (YoY) | ₹5,005 Cr (Q1)
• PBT: ₹921 Cr vs ₹590 Cr (⏫56%) | ₹800 Cr (Q1)
• PAT: ₹692 Cr vs ₹445 Cr | ₹600 Cr (Q1)
• OCF: ₹1,790 Cr vs ₹1,322 Cr

Insight:
Polycab maintained its leadership in the cables segment, with strong domestic and export demand. Margin expansion and healthy cash flows reinforce long-term confidence.

🔹 6. Manorama Industries Ltd (#Manorama)

Focus: FMCG Ingredients | Specialty Oils

• Revenue: ₹323 Cr vs ₹195 Cr | ₹285 Cr (Q1)
• PBT: ₹73 Cr vs ₹34 Cr | ₹65 Cr (Q1)
• OCF: ₹201 Cr vs -₹56 Cr

Insight:
The company delivered a record quarter, driven by demand from global FMCG clients. OCF reversal signals robust operational efficiency.

🔹 7. PSP Projects Ltd (#PSPProj)

Focus: Construction & Infrastructure

• Revenue: ₹702 Cr vs ₹585 Cr | ₹518 Cr (Q1)
• PBT: ₹22 Cr vs ₹14 Cr | ₹0.2 Cr (Q1)
• PAT: ₹16 Cr vs ₹10 Cr | ₹0.4 Cr (Q1)
• OCF: -₹42 Cr vs ₹33 Cr

Insight:
Strong recovery in execution post-slowdown. However, negative OCF reflects higher project mobilization expenses.

🔹 8. Dalmia Bharat Cement (#DalmiaCement)

Focus: Cement & Building Materials

• Revenue: ₹3,417 Cr vs ₹3,087 Cr
• PBT: ₹328 Cr vs ₹73 Cr
• PAT: ₹239 Cr vs ₹49 Cr
• OCF: ₹735 Cr vs ₹210 Cr

Insight:
Despite being a seasonally weak quarter, Dalmia Bharat achieved strong profitability through operational efficiency and improved realizations per ton.

🔹 9. Anupam Rasayan India Ltd (#AnuRas)

Focus: Chemicals | Long-Term Contracts

• Revenue: ₹731 Cr vs ₹294 Cr | ₹486 Cr (Q1)
• PBT: ₹75 Cr vs ₹34 Cr | ₹63 Cr (Q1)
• PAT: ₹57 Cr vs ₹31 Cr | ₹48 Cr (Q1)
• OCF: ₹534 Cr vs -₹222 Cr

Insight:
Multiple new contracts ensure multi-year visibility. Despite slight margin compression, strong growth outlook continues.

🔹 10. Atul Ltd (#Atul)

Focus: Diversified Chemicals

• Revenue: ₹1,551 Cr vs ₹1,392 Cr | ₹1,478 Cr (Q1)
• PBT: ₹231 Cr vs ₹191 Cr | ₹177 Cr (Q1)
• PAT: ₹182 Cr vs ₹139 Cr | ₹132 Cr (Q1)
• OCF: ₹507 Cr vs ₹252 Cr

Insight:
Stable quarter with healthy profitability and strong operational cash generation.

🔹 11. Ceat Ltd (#Ceat)

Focus: Tyres | Auto Ancillary

• Revenue: ₹3,772 Cr vs ₹3,304 Cr | ₹3,529 Cr (Q1)
• PBT: ₹246 Cr vs ₹162 Cr | ₹157 Cr (Q1)
• PAT: ₹185 Cr vs ₹121 Cr | ₹111 Cr (Q1)
• OCF: ₹874 Cr vs ₹414 Cr

Insight:
Benefit from lower raw material costs reflected in margin expansion. Strong earnings momentum continues.

🔹 12. JSW Steel (#JSWSteel)

Focus: Metals | Steel Manufacturing

• PBT: ₹2,432 Cr vs ₹1,193 Cr | ₹3,172 Cr (Q1)
• PAT: ₹1,646 Cr vs ₹404 Cr | ₹2,209 Cr (Q1)
• OCF: ₹11,992 Cr vs ₹4,634 Cr

Insight:
YoY performance remains strong, though sequential softness observed due to global pricing pressure.

🔹 13. Karur Vysya Bank (#KarurVysya)

Focus: Banking & Finance

• PPOP: ₹1,017 Cr vs ₹916 Cr | ₹805 Cr (Q1)
• PBT: ₹743 Cr vs ₹636 Cr | ₹687 Cr (Q1)
• Asset Quality: GNPA slightly up QoQ; NNPA down YoY

Insight:
Healthy profitability and stable asset quality support long-term growth prospects.

🔹 14. Other Notable Mentions

• Hindustan Zinc (#HindZinc): 10% increase in PBT and PAT.
• HFCL (#HFCL): QoQ improvement, H2 prospects bright.
• UCO Bank (#UCOBank): Improved GNPA/NNPA, better RoA.
• FedFina (#FedFina): PBT and PAT up 25%, strong gold loan book.
• Alphalogic Industries (#AlphalogicInds): Revenue dip but higher profit.
• DCB Bank (#DCBBank): PPOP up 18%, asset quality improvement.

🧭 Sectoral Trends & Investor Takeaways

• Chemicals Sector: Continues to outperform with margin stability and strong export demand.
• Manufacturing & Infra: Polycab, PSP, and Dalmia Bharat show steady momentum.
• Financials: 360 One WAM and Karur Vysya demonstrate robust profitability.
• Entertainment & FMCG Inputs: PVR Inox and Manorama Industries show revival post-slowdown.

📊 Conclusion: Q2 FY26 Marks a New Growth Phase

The Q2 FY26 results reaffirm India’s corporate resilience amid global volatility. Several companies recorded their highest-ever revenues and profits, driven by strong domestic consumption, export recovery, and improved cost management.

Investors can expect continued growth momentum in chemicals, manufacturing, and financials, while cyclicals like cement and steel are regaining traction.

Disclaimer: The projections of potential returns are based on current market conditions and company performance. Actual results may vary due to various factors, including market dynamics, economic conditions, and changes in the competitive landscape. Investors should conduct their own research and consult with financial advisors before making investment decisions.

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