Board approves Sept 2026 quarter and half-year results; auditors' review unmodified
Board met on October 15, 2026 (02:50 p.m. to 7:05 p.m.) and approved the unaudited consolidated and standalone financial results for the quarter and half year ended September 30, 2026.
By ScoutQuest · · 4 min read
| Line item | Latest | Year ago | YoY | Prev qtr | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 5,484.16 | 4,335.75 | +26.5% | 5,212.92 | +5.2% |
| Total income | 5,484.23 | 4,335.79 | +26.5% | 5,243.31 | +4.6% |
| Profit before tax | 1,318.84 | 988.86 | +33.4% | 1,236.28 | +6.7% |
| Profit after tax | 972.76 | 734.88 | +32.4% | 915.99 | +6.2% |
| Total comprehensive income | 1,048.27 | 746.31 | +40.5% | 915.04 | +14.6% |
| Basic EPS | *3.89 | *2.94 | — | *3.60 | — |
- PAT YoY Growth
- +32.4%
- Period
- Quarter ended September 30, 2026 (Unaudited) (Refer note 11)
Auditor's review
Conclusion: Unmodified
Notes to the results
- Exceptional items for year ended March 31, 2026 of ₹ 28.51 crores (net of tax ₹ 21.33 crores) relate to impact of implementing the New Labour Codes (past service costs).
- During the quarter and six months ended September 30, 2026 the Company allotted 8,46,371 and 19,66,554 equity shares of ₹10 each on exercise of employee stock options.
The board of directors met on October 15, 2026, from 02:50 p.m. to 7:05 p.m., and approved the unaudited financial results of the company for the quarter and half year ended September 30, 2026, on both a consolidated and a standalone basis.
Decisions and disclosures placed before the exchanges
- Unaudited financial results (consolidated and standalone) for the quarter and half year ended September 30, 2026, along with the Limited Review Report of the statutory auditors.
- A certificate issued by the statutory auditors, and a statement indicating no deviation or variation in utilisation of the issue proceeds of non-convertible securities, reviewed by the Audit Committee.
- Disclosure of related party transactions for the half year ended September 30, 2026.
- The unaudited consolidated financial results will be published in newspapers.
- During the quarter and six months ended September 30, 2026, the company allotted 8,46,371 and 19,66,554 equity shares respectively of ₹10 each, fully paid up, on exercise of options by employees under its employee stock option scheme(s).
Auditor's review conclusion
Brahmayya & Co. and T R Chadha & Co LLP, the joint statutory auditors, carried out a limited review of the statement and issued an unmodified conclusion: nothing came to their attention that would suggest the statement contains a material misstatement, or that it was not prepared in accordance with the relevant prudential norms issued by the Reserve Bank of India in respect of income recognition, asset classification, provisioning and other related matters. A review provides moderate assurance and is not an audit.
Three subsidiaries included in the statement were not reviewed by them; their unaudited financial results reflect total revenues of Rs. 23.70 Crores, total net profit after tax of Rs. 13.82 Crores and total comprehensive income of Rs. 13.85 Crores. One subsidiary, L&T Infra Investment Partners, was not reviewed by its auditors and reflects total revenues of Rs. 27.67 Crores, total net profit after tax of Rs. 24.68 Crores and total comprehensive income of Rs. 24.68 Crores for the quarter and six months ended September 30, 2026. The auditors' conclusion is not modified in respect of these matters.
Consolidated results (₹ in crore, unaudited)
- Revenue from operations: 5,484.16 for the quarter ended September 30, 2026
- Total income: 5,484.23 for the quarter; 10,727.54 for the six months
- Total expenses: 4,165.39 for the quarter
- Profit before tax: 1,318.84 for the quarter; 2,555.12 for the six months
- Profit after tax: 972.76 for the quarter; 1,888.75 for the six months
- Earnings per share (not annualised): Basic *3.89 and Diluted *3.88 for the quarter; Basic *7.49 and Diluted *7.48 for the six months
Standalone results (₹ in crore, unaudited)
- Total income: 5,484.42 for the quarter; 10,727.91 for the six months
- Profit before tax: 1,311.99 for the quarter; 2,525.16 for the six months
- Profit after tax: 968.25 for the quarter; 1,863.57 for the six months
- Total comprehensive income: 1,043.73 for the quarter; 1,938.10 for the six months
Ratios disclosed for the six months ended September 30, 2026 (consolidated)
- Debt - Equity Ratio: 4.21
- Net worth: ₹29,267.07 crore
- Net profit after tax: ₹1,888.75 crore
- Net profit margin: 17.61%
- Total debts to total assets: 0.78
- Capital redemption reserve: ₹68.85 crore; Debenture redemption reserve: ₹0.29 crore
- Earnings per equity share (not annualised): Basic ₹7.49, Diluted ₹7.48
Other points from the notes
- Exceptional items for the previous year ended March 31, 2026 amounting to ₹ 28.51 crores (net of tax ₹ 21.33 crores) relate to the impact of implementing the New Labour Codes, resulting in a one-time material increase in the provision for employee benefit expenses due to the recognition of past service costs.
- The consolidated statement of cash flows for the six months ended September 30, 2026 shows net cash used in operating activities of (13,779.18) and cash and cash equivalents of 5,076.94 at the end of the period, in ₹ in crore.
How to read this
A board meeting outcome like this is a regular quarterly disclosure. The headline numbers describe how the lending business performed in the quarter and half year, and the reported lines to track are Total income, Profit before tax, Profit after tax and Earnings per share. The auditors' conclusion here is unmodified, meaning their review did not bring up anything they considered a material issue in the reviewed statement. The provision linked to the New Labour Codes relates to the previous year ended March 31, 2026 and is shown as an exceptional item for that period.
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More numbers
- Consolidated Total income, six months ended September 30, 202610,727.54
- Consolidated Profit after tax, six months ended September 30, 20261,888.75
- Standalone Profit after tax, quarter ended September 30, 2026968.25
- Equity shares allotted on exercise of employee stock options (six months)19,66,554
- Net worth (consolidated)29,267.07
- Debt - Equity Ratio (consolidated)4.21
- Total income, latest quarter5,484.23 (₹ in Crore)
- Total income, year-ago quarter4,335.79 (₹ in Crore)
- Total income, previous quarter5,243.31 (₹ in Crore)
- Total comprehensive income, latest quarter1,048.27 (₹ in Crore)
- Total comprehensive income, year-ago quarter746.31 (₹ in Crore)
- Total comprehensive income, previous quarter915.04 (₹ in Crore)
- Profit after tax, latest quarter972.76 (₹ in Crore)
- Profit after tax, year-ago quarter734.88 (₹ in Crore)
- Profit after tax, previous quarter915.99 (₹ in Crore)
- Revenue from operations, latest quarter5,484.16 (₹ in Crore)
- Revenue from operations, year-ago quarter4,335.75 (₹ in Crore)
- Revenue from operations, previous quarter5,212.92 (₹ in Crore)
- Profit before tax, latest quarter1,318.84 (₹ in Crore)
- Profit before tax, year-ago quarter988.86 (₹ in Crore)
- Profit before tax, previous quarter1,236.28 (₹ in Crore)
- Basic EPS, latest quarter*3.89
- Basic EPS, year-ago quarter*2.94
- Basic EPS, previous quarter*3.60
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