CARE Ratings (CARERATING) Q3 25/26 earnings summary

Executive summary

• Achieved consolidated revenue from operations of ₹112.12 Cr (Rs. 11,212.42 lakhs) in Q3 FY26, up 16% year-over-year, and ₹342.40 Cr for 9M FY26, up 17% year-over-year.

• Consolidated EBITDA margin improved to 36% in Q3 FY26 and 40% in 9M FY26.

• PAT margin reached 29% in Q3 FY26 and 32% in 9M FY26, with EPS of ₹11.96 for Q3 FY26.

• Net profit for the quarter was Rs. 3,653.96 lakhs, and total comprehensive income reached Rs. 3,668.83 lakhs.

• Standalone revenue for the quarter was Rs. 9,023.73 lakhs, with net profit at Rs. 3,605.76 lakhs.

Financial highlights

• Standalone revenue from operations grew 15% YoY in Q3 FY26 and 14% YoY in 9M FY26.

• Standalone EBITDA margin was 41% in Q3 FY26 and 46% in 9M FY26.

• Standalone PAT margin was 35% in Q3 FY26 and 38% in 9M FY26.

• Consolidated profit before tax for the quarter was Rs. 4,899.38 lakhs, up from Rs. 3,872.15 lakhs in the same quarter last year.

• Earnings per share (consolidated, basic) for the quarter stood at Rs. 11.96, compared to Rs. 9.30 year-over-year.

Outlook and guidance

• India's GDP growth for FY26 is estimated at 7.4%, with projected real GDP growth of 7.2% for FY27.

• Consumption growth (PFCE) is estimated at 7% in FY26, and investment growth (GFCF) at 7.8%.

• The group continues to monitor regulatory changes, especially regarding the finalisation of Central/State Rules under the new Labour Codes, and will adjust accounting as needed.