Executive Summary
The 11 filings for May 22, 2026, reveal a market dominated by mixed signals from consumer goods giant TTK Prestige, which reported a solid 9.6% YoY revenue growth for FY26 but a concerning 7.1% QoQ sequential decline in Q4 standalone revenue, suggesting a demand slowdown. This pattern of strong annual performance with a weak finish is a key theme.
In contrast, Delhivery delivered a standout performance, crossing ₹10,400 Cr in revenue and achieving a key profitability milestone one year ahead of plan, signaling a structural turnaround. Capital allocation is a major theme, with Wipro announcing a massive ₹15,000 Cr buyback and Ashok Leyland scheduling a second interim dividend, indicating strong cash positions and shareholder-friendly management. A notable strategic move is TVS Motor's acquisition of a 4.9% stake in Jana Small Finance Bank, signaling a diversification into financial services. The absence of insider trading activity across all filings is a notable data point, suggesting a wait-and-see approach from management. The overall market implication is one of cautious optimism, with strong capital returns and strategic investments offsetting concerns about consumer demand deceleration in the final quarter.
Materiality, sentiment, and priority are scored by Gunpowder’s analysis pipeline. How we score filings →
Filing types in this digest: Corporate action · Board meeting · Company update
Tracking the trend? Catch up on the prior India BSE NSE Trading Suspension Orders digest from May 21, 2026.
Investment Signals (10)
- Delhivery ↓ (BULLISH)▲
Record FY26 revenue crossing ₹10,400 Cr, Express revenue up 46% YoY to ₹1,832 Cr in Q4, and Supply Chain Solutions EBITDA margin turning from 2.2% to 10.9% (₹79 Cr), all achieved one year ahead of plan
- Wipro ↓ (BULLISH)▲
Announced a ₹15,000 Cr buyback at ₹250/share, representing a significant capital return to shareholders, with a record date of June 5, 2026
- TTK Prestige ↓ (MIXED)▲
Standalone Q4 FY26 net profit of ₹50.79 Cr was up 72.4% YoY, but this was against a depressed base (Q4 FY25 had a ₹32.26 Cr impairment charge). The 7.1% QoQ revenue decline signals a potential demand slowdown
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Acquired a 4.90% stake in Jana Small Finance Bank, a strategic diversification into the high-growth banking sector, though the non-controlling stake limits immediate influence [NEUTRAL/BULLISH]
- Lupin ↓ (BULLISH)▲
Received China's NMPA approval for Oseltamivir Phosphate Oral Suspension, marking its first product entry into the Chinese market, a significant long-term growth catalyst
- Ashok Leyland ↓ (BULLISH)▲
Board meeting scheduled for May 28, 2026 to consider a 2nd interim dividend for FY26, indicating strong cash flow and a commitment to shareholder returns
- TTK Prestige ↓ (MIXED)▲
Full-year standalone revenue grew 9.6% YoY to ₹2,772.69 Cr and net profit rose 14.0% to ₹185.47 Cr, showing healthy annual performance despite Q4 weakness
- Delhivery ↓ (NEUTRAL)▲
Free cash flow turned positive at only ₹89 Cr, and PAT margins remained modest at 3.2%, indicating the business is still in early stages of cash generation despite the milestone
- TTK Prestige ↓ (BULLISH)▲
The Board recommended a dividend of ₹7.50 per share (750%) for FY26, consistent with its track record of rewarding shareholders
- TTK Prestige ↓ (BULLISH)▲
Consolidated Q4 FY26 net profit was ₹36.08 Cr, compared to a loss of ₹42.39 Cr in Q4 FY25, a significant YoY improvement driven by the absence of exceptional impairment charges
Risk Flags (8)
- TTK Prestige/Sequential Revenue Decline↓ [HIGH RISK]▼
Standalone Q4 FY26 revenue fell 7.1% QoQ and consolidated Q4 revenue fell 9.0% QoQ, indicating a sharp deceleration in the final quarter of the fiscal year
- TTK Prestige/Expense Growth↓ [MEDIUM RISK]▼
Standalone total expenses for Q4 FY26 rose 9.8% YoY to ₹625.29 Cr, outpacing the 12.5% YoY revenue growth, suggesting margin pressure
- TTK Prestige/Other Income Decline↓ [MEDIUM RISK]▼
Standalone full-year other income fell 11.2% YoY to ₹67.83 Cr, reducing a buffer for overall profitability
- TTK Prestige/Exceptional Items↓ [MEDIUM RISK]▼
The company booked a Voluntary Retirement Scheme charge of ₹9.98 Cr and an impact of Labour Codes of ₹16.94 Cr in FY26, indicating ongoing restructuring and compliance costs
- TTK Prestige/Chairman Continuation↓ [LOW RISK]▼
The continuation of 75-year-old Chairman T.T. Raghunathan requires a special resolution, creating potential governance uncertainty
- Delhivery/Modest Profitability↓ [MEDIUM RISK]▼
Despite record revenue, PAT margins are only 3.2% and free cash flow is a mere ₹89 Cr, highlighting the capital-intensive nature of the logistics business
- TVS Motor/Non-Controlling Stake↓ [LOW RISK]▼
The 4.90% stake in Jana Small Finance Bank is a minority, non-controlling interest, limiting TVS Motor's ability to influence strategy or consolidate earnings
- TTK Prestige/Sequential Profit Decline↓ [HIGH RISK]▼
Standalone Q4 FY26 net profit of ₹50.79 Cr was down 3.0% sequentially from ₹29.45 Cr in Q3 FY26 (adjusted for exceptional items), confirming the revenue slowdown is impacting the bottom line
Opportunities (8)
- Delhivery/Turnaround Play↓ (OPPORTUNITY)◆
Achieved record revenue and key profitability milestones one year ahead of plan. With the Ecom Express acquisition completed and working capital days reduced to 11, the company is positioned for sustained profitable growth. The stock may re-rate as cash flow generation improves
- Wipro/Buyback Arbitrage↓ (OPPORTUNITY)◆
The ₹15,000 Cr buyback at ₹250/share via a tender offer creates a potential arbitrage opportunity for shareholders. The record date is June 5, 2026, and the buyback was approved by shareholders on May 21, 2026
- Lupin/China Market Entry↓ (OPPORTUNITY)◆
The NMPA approval for Oseltamivir is a strategic milestone, opening the world's second-largest pharma market. This could be the first of many approvals, creating a long-term growth catalyst
- Ashok Leyland/Dividend Capture↓ (OPPORTUNITY)◆
The Board will consider a 2nd interim dividend on May 28, 2026, with a record date of June 3, 2026. Investors could capture the dividend by buying before the ex-date
- TTK Prestige/Post-Q4 Weakness Dip↓ (OPPORTUNITY)◆
The 7.1% QoQ revenue decline may create a buying opportunity if the weakness is seasonal or one-off. The full-year growth of 9.6% YoY and a 14.0% rise in net profit suggest the underlying business is healthy. The 750% dividend yield offers a floor
- TVS Motor/Strategic Diversification↓ (OPPORTUNITY)◆
The entry into banking via a 4.9% stake in Jana Small Finance Bank could be the first step in a larger financial services foray, potentially creating value through cross-selling and synergies
- TTK Prestige/Consolidated Profit Recovery↓ (OPPORTUNITY)◆
Consolidated net profit swung from a loss of ₹42.39 Cr in Q4 FY25 to a profit of ₹36.08 Cr in Q4 FY26, a massive improvement. If this trend continues, the stock could see significant upside
- Delhivery/AI-Driven Efficiency↓ (OPPORTUNITY)◆
The reduction in working capital days to 11 from receivables, leveraging AI/automation, indicates operational excellence that could drive further margin expansion
Sector Themes (6)
- Consumer Durables Slowdown◆
TTK Prestige's 7.1% QoQ revenue decline in Q4 FY26, despite a 9.6% YoY annual growth, suggests a potential demand slowdown in the consumer durables sector in the final quarter of the fiscal year. This warrants monitoring of peers like Hawkins, Bajaj Electricals, and Crompton Greaves for similar patterns.
- Capital Allocation: Buybacks vs Dividends◆
The filings show a clear trend of aggressive capital return. Wipro is executing a ₹15,000 Cr buyback, while Ashok Leyland is considering a second interim dividend. This indicates strong cash positions and a shareholder-friendly stance, which is a positive signal for the broader market.
- Strategic Diversification into Financial Services◆
TVS Motor's acquisition of a 4.9% stake in a small finance bank is a notable trend of non-banking companies entering the financial sector. This could be a precursor to more such moves by auto and other industrial companies seeking higher returns.
- Pharma: China Market Access as a Growth Catalyst◆
Lupin's first NMPA approval is a significant development. With China's aging population and growing healthcare needs, Indian pharma companies with strong R&D pipelines (like Sun Pharma, Dr. Reddy's) could see this as a new growth frontier.
- Logistics: Scale Reaching Profitability Inflection Point◆
Delhivery's results suggest that the Indian logistics sector is reaching a scale where profitability becomes achievable. The company's record revenue and positive (albeit small) free cash flow indicate that the 'growth at all costs' phase is transitioning to 'profitable growth'.
- Governance and Succession Planning◆
TTK Prestige's need for a special resolution to continue its 75-year-old Chairman highlights a governance theme in promoter-led Indian companies. Investors should watch for similar succession-related filings in other family-run businesses.
Watch List (8)
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The Board will meet on May 28, 2026 to consider a 2nd interim dividend. The outcome and the dividend amount will be a key indicator of the company's cash flow health and management's confidence [Date: May 28, 2026]
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The record date for the ₹15,000 Cr buyback is June 5, 2026. Investors should ensure they hold shares before this date to be eligible for the tender offer [Date: June 5, 2026]
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The 70th AGM is scheduled for August 4, 2026. Key items include the approval of the ₹7.50 dividend and the special resolution for the continuation of Chairman T.T. Raghunathan [Date: August 4, 2026]
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The Q4 FY26 sequential decline is a red flag. The Q1 FY27 results (expected in August 2026) will be critical to confirm whether the slowdown is a temporary blip or a structural trend.
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With PAT margins at just 3.2% and free cash flow of ₹89 Cr, the next few quarters will be crucial to see if the company can sustain and improve its profitability metrics.
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The NMPA approval for Oseltamivir is a first. Watch for further announcements regarding additional ANDA approvals in China, which would validate the market entry strategy.
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Monitor for any further stake increases or strategic partnerships between TVS Motor and Jana Small Finance Bank, which could signal a deeper commitment to the financial services sector.
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Given the mixed results and the governance issue around the Chairman's age, any insider buying or selling by the promoter group in the coming weeks will be a strong signal of their conviction.
Filing Analyses
(11)
22-05-2026
TTK Prestige reported standalone revenue from operations of ₹2,772.69 Cr for FY26, up 9.6% YoY from ₹2,530.32 Cr, and standalone net profit of ₹185.47 Cr, up 14.0% from ₹162.68 Cr. However, Q4 FY26 standalone revenue of ₹679.57 Cr declined 7.1% sequentially from ₹731.71 Cr in Q3 FY26, and consolidated Q4 revenue of ₹729.17 Cr fell 9.0% sequentially from ₹801.40 Cr, indicating a slowdown in the latest quarter. The Board recommended a dividend of ₹7.50 per share (750%) and approved the continuation of Chairman T.T. Raghunathan beyond age 75.
- · Standalone Q4 FY26 net profit was ₹50.79 Cr, up 72.4% YoY from ₹3.94 Cr in Q4 FY25, but down 72.5% sequentially from ₹29.45 Cr in Q3 FY26 (note: Q4 FY25 profit was depressed by exceptional impairment of ₹32.26 Cr).
- · Consolidated Q4 FY26 net profit was ₹36.08 Cr, compared to a loss of ₹42.39 Cr in Q4 FY25 (which included exceptional impairment of ₹71.42 Cr).
- · Standalone FY26 other income declined to ₹67.83 Cr from ₹76.43 Cr in FY25, a drop of 11.3%.
- · Standalone FY26 employee benefits expense rose to ₹270.15 Cr from ₹248.51 Cr, up 8.7% YoY.
- · Standalone FY26 depreciation and amortization increased to ₹74.41 Cr from ₹64.37 Cr, up 15.6% YoY.
- · Standalone FY26 other expenses grew to ₹633.15 Cr from ₹550.45 Cr, up 15.0% YoY.
- · Standalone FY26 cash flow from operations was ₹210.53 Cr, up from ₹154.06 Cr in FY25.
- · Standalone FY26 capital expenditure (purchase of PPE) was ₹86.76 Cr, more than double the ₹39.04 Cr in FY25.
- · The Board approved the continuation of Mr. T.T. Raghunathan as Director beyond age 75, subject to shareholder approval.
- · The 70th Annual General Meeting is scheduled for August 4, 2026 via video conferencing.
22-05-2026
TTK Prestige reported standalone revenue from operations of ₹679.57 Cr for Q4 FY26, up 12.5% YoY from ₹603.80 Cr in Q4 FY25, and full-year revenue of ₹2,772.69 Cr, up 9.6% YoY from ₹2,530.32 Cr. However, Q4 revenue declined 7.1% sequentially from ₹731.71 Cr in Q3 FY26. Net profit for Q4 stood at ₹50.79 Cr (vs ₹3.94 Cr in Q4 FY25), while full-year profit was ₹185.47 Cr, up 14.0% from ₹162.68 Cr. The Board recommended a dividend of ₹7.50 per share (750%) for FY26.
- · Standalone Q4 FY26 other income was ₹17.62 Cr vs ₹18.36 Cr in Q4 FY25, a slight decline.
- · Standalone full year FY26 other income was ₹67.83 Cr vs ₹76.43 Cr in FY25, down 11.2% YoY.
- · Standalone Q4 FY26 total expenses were ₹625.29 Cr vs ₹569.28 Cr in Q4 FY25, up 9.8% YoY.
- · Standalone full year FY26 total expenses were ₹2,562.88 Cr vs ₹2,342.38 Cr in FY25, up 9.4% YoY.
- · Consolidated Q4 FY26 revenue from operations was ₹729.17 Cr vs ₹649.56 Cr in Q4 FY25, up 12.3% YoY, but down 9.0% sequentially from ₹801.40 Cr in Q3 FY26.
- · Consolidated Q4 FY26 net profit was ₹36.08 Cr vs a loss of ₹42.39 Cr in Q4 FY25, a significant turnaround.
- · The Board approved continuation of Mr. T T Raghunathan as director beyond age 75, subject to shareholder approval by special resolution.
- · The 70th AGM is scheduled for August 4, 2026 via video conferencing.
- · Dividend of ₹7.50 per share (750%) recommended for FY26, subject to shareholder approval.
- · Auditors gave an unmodified opinion on the financial results.
22-05-2026
TTK Prestige Limited reported standalone revenue from operations of ₹2,772.69 Cr for FY26, up 9.6% YoY from ₹2,530.32 Cr in FY25, and consolidated revenue of ₹2,973.57 Cr, up 9.5% YoY. Standalone net profit for the year rose 14.0% to ₹185.47 Cr from ₹162.68 Cr, while consolidated net profit jumped 45.0% to ₹156.67 Cr from ₹108.01 Cr. However, the standalone Q4 FY26 revenue of ₹679.57 Cr declined 7.1% sequentially from ₹731.71 Cr in Q3 FY26, and consolidated Q4 revenue of ₹729.17 Cr fell 9.0% sequentially, indicating a slowdown in the final quarter. The Board recommended a dividend of ₹7.50 per share (750%).
- · Standalone Q4 FY26 net profit was ₹50.79 Cr, up 72.5% YoY from ₹3.94 Cr in Q4 FY25, but down 72.5% sequentially from ₹29.45 Cr in Q3 FY26.
- · Consolidated Q4 FY26 net profit was ₹36.08 Cr, compared to a loss of ₹42.39 Cr in Q4 FY25, but down from ₹31.78 Cr in Q3 FY26.
- · Standalone FY26 total expenses rose 9.4% to ₹2,562.88 Cr from ₹2,342.38 Cr in FY25.
- · Consolidated FY26 total expenses increased 9.8% to ₹2,793.78 Cr from ₹2,544.77 Cr.
- · Standalone FY26 cash flow from operations improved to ₹210.53 Cr from ₹154.06 Cr in FY25.
- · The Board approved continuation of Mr. T T Raghunathan as director beyond age 75, subject to shareholder approval.
- · Dividend of ₹7.50 per share (750%) recommended for FY26, unchanged from ₹7.50 per share in FY25.
- · Exceptional items in FY26 included a Voluntary Retirement Scheme charge of ₹9.98 Cr and Impact of Labour Codes charge of ₹16.94 Cr (standalone).
- · Standalone reserves excluding revaluation reserves stood at ₹1,977.43 Cr as of March 31, 2026, up from ₹1,872.63 Cr a year earlier.
22-05-2026
TTK Prestige reported standalone revenue from operations of ₹679.57 Cr for Q4 FY26, up 12.5% YoY from ₹603.80 Cr in Q4 FY25, and full-year revenue of ₹2772.69 Cr, up 9.6% YoY from ₹2530.32 Cr. Net profit for Q4 stood at ₹50.79 Cr versus ₹3.94 Cr in the same quarter last year, while full-year net profit rose 14.0% to ₹185.47 Cr from ₹162.68 Cr. However, on a sequential basis, Q4 standalone revenue declined 7.1% from ₹731.71 Cr in Q3 FY26, and net profit fell 3.0% from ₹29.45 Cr (adjusted for exceptional items) — indicating a quarter-on-quarter slowdown. The board recommended a dividend of ₹7.50 per share (750%).
- · Standalone other income for Q4 FY26 was ₹17.62 Cr, down from ₹18.36 Cr in Q4 FY25.
- · Standalone total expenses for Q4 FY26 were ₹625.29 Cr, up 9.8% YoY from ₹569.28 Cr.
- · Standalone finance costs for Q4 FY26 were ₹2.22 Cr, down from ₹2.61 Cr in Q4 FY25.
- · Standalone depreciation for Q4 FY26 was ₹21.71 Cr, up from ₹17.05 Cr in Q4 FY25.
- · Exceptional items in Q4 FY26 included a ₹2.20 Cr charge for Labour Codes impact (standalone).
- · Consolidated net profit for Q4 FY26 was ₹36.08 Cr, compared to a loss of ₹42.39 Cr in Q4 FY25.
- · Consolidated full-year net profit for FY26 was ₹156.67 Cr, up 45.0% from ₹108.01 Cr in FY25.
- · The board recommended a dividend of ₹7.50 per share (750%) for FY26.
- · The 70th Annual General Meeting is scheduled for August 4, 2026 via video conferencing.
- · Mr. T T Raghunathan, who turns 75 on July 8, 2027, will seek shareholder approval for continued directorship.
- · Standalone cash and cash equivalents at March 31, 2026 stood at ₹31.32 Cr, up from ₹21.51 Cr a year ago.
- · Standalone total assets as of March 31, 2026 were ₹2623.01 Cr, up from ₹2436.98 Cr.
- · Standalone trade receivables decreased to ₹233.25 Cr from ₹243.84 Cr.
- · Standalone inventories increased to ₹600.36 Cr from ₹527.51 Cr.
- · Standalone trade payables (other than MSME) increased to ₹227.71 Cr from ₹201.30 Cr.
22-05-2026
Lupin Limited received China's NMPA approval for its Abbreviated New Drug Application for Oseltamivir Phosphate Oral Suspension (6 mg/mL), marking the company's first product entry into the Chinese market. The approval, achieved in partnership with Yabao Pharmaceuticals, is a strategic milestone for global expansion, particularly in paediatric influenza treatment and prevention. No financial figures or period-over-period comparisons are provided in this filing.
- · Oseltamivir Phosphate Oral Suspension is indicated for treatment of influenza A and B in patients 2 weeks of age and older, and for prevention in individuals 1 year of age and older.
- · Lupin has 15 manufacturing sites and 7 research centers globally.
- · Yabao Pharmaceutical is listed on the Shanghai Stock Exchange (600351) and has two manufacturing sites approved by U.S. FDA and a European agency.
22-05-2026
Ashok Leyland Limited has informed the stock exchanges that its Board of Directors will meet on May 28, 2026, to consider declaring a 2nd interim dividend for FY 2025-26. The record date for the dividend, if declared, will be June 3, 2026. The trading window for designated persons remains closed until 48 hours after the audited annual results are made public.
- · Board meeting scheduled for May 28, 2026.
- · Record date for the 2nd interim dividend is June 3, 2026.
- · Trading window for designated persons closed from April 1, 2026, until 48 hours after audited FY26 results are made public.
22-05-2026
Wipro Limited has fixed June 5, 2026 as the Record Date for its buyback of up to 60,00,00,000 equity shares at ₹250 per share, for an aggregate amount not exceeding ₹15,000 Crore. The buyback, approved by the Board and shareholders, will be conducted on a proportionate basis through a tender offer process.
- · Record Date for buyback entitlement is Friday, June 5, 2026.
- · Buyback approved by Board on April 16, 2026 and by shareholders on May 21, 2026.
- · Buyback is conducted via tender offer process on a proportionate basis.
22-05-2026
TTK Prestige reported standalone revenue from operations of ₹679.57 Cr for Q4 FY26, up 12.5% YoY from ₹603.80 Cr in Q4 FY25, and full-year revenue of ₹2,772.69 Cr, up 9.6% YoY from ₹2,530.32 Cr. Net profit for Q4 stood at ₹50.79 Cr versus ₹3.94 Cr in the prior-year quarter, while full-year net profit rose 14.0% to ₹185.47 Cr from ₹162.68 Cr. However, consolidated revenue for Q4 declined 9.0% sequentially to ₹729.17 Cr from ₹801.40 Cr in Q3 FY26, and full-year consolidated net profit grew 45.0% to ₹156.67 Cr from ₹108.01 Cr. The Board recommended a dividend of ₹7.50 per share (750%) for FY26.
- · The Board recommended a dividend of ₹7.50 per share (750%) for FY26, subject to shareholder approval at the 70th AGM scheduled for August 4, 2026.
- · Mr. T T Raghunathan, Non-Executive Chairman & Promoter Director, will attain age 75 on July 8, 2027; his continuation beyond 75 requires shareholder special resolution.
- · Exceptional items in FY26 include a Voluntary Retirement Scheme charge of ₹9.98 Cr and an impact of Labour Codes of ₹16.94 Cr (standalone) / ₹17.37 Cr (consolidated).
- · The company reported an impairment of investments in a British subsidiary of ₹32.26 Cr in FY25 (standalone) and ₹71.42 Cr (consolidated), with no such impairment in FY26.
- · Consolidated revenue for Q4 FY26 declined 9.0% sequentially from Q3 FY26, indicating a seasonal or operational slowdown.
- · Standalone net profit for Q4 FY26 surged to ₹50.79 Cr from ₹3.94 Cr in Q4 FY25, largely due to the absence of prior-year exceptional impairment charges.
- · The statutory auditor issued an unmodified opinion on the audited financial results.
22-05-2026
TVS Motor Company completed a secondary acquisition of a 4.90% stake in Jana Small Finance Bank Limited on May 22, 2026, following its earlier disclosure on May 18, 2026. The acquisition was announced as a material development under SEBI LODR regulations and increases TVS Motor's presence in the banking sector.
- · The disclosure references an earlier announcement dated May 18, 2026.
- · The stake acquired is 4.90% (not a controlling interest).
- · The acquisition is secondary in nature, meaning shares were purchased from existing shareholders rather than via a fresh issue.
22-05-2026
Delhivery reported a record FY26 with revenue crossing ₹10,400 Cr and over a billion packages delivered. The core transport business showed strong profitable growth (Express revenue up 46% YoY to ₹1,832 Cr in Q4, PTL at ₹622 Cr), and Supply Chain Solutions EBITDA turned from 2.2% to 10.9% (₹79 Cr). However, PAT margins remained modest at 3.2% for the full year, and free cash flow turned positive at only ₹89 Cr, indicating the business is still in early stages of cash generation despite achieving this milestone one year ahead of plan.
- · The company completed the acquisition of Ecom Express earlier in FY26.
- · Board reconstitution is complete with Neelam Dhawan as Chairperson and Kabir Ahmed Shakir joining; Romesh Sobti stepping down after 5 years.
- · Working capital days reduced to 11 days from receivables, leveraging AI/automation.
- · CapEx intensity reduced from 7.8% (FY23) to 4.7% (FY26).
- · Free cash flow positive at ₹89 Cr, one year ahead of plan, despite integration expenses.
- · Over 4,500 Cr cash on balance sheet.
- · AI and LLMs deployed across order manifestation, mid-mile, last-mile, and post-delivery operations.
- · Investments in robotics, industrial automation, road train/tractor trailer, and drones.
- · Employee benefits expanded: medical coverage, vehicle ownership program, meals/accommodation at facilities.
- · Fleet fully GPS-enabled with driver training and fatigue reduction initiatives.
22-05-2026
TTK Prestige Limited reported audited standalone revenue from operations of ₹2,772.69 Cr for FY26, up 9.6% from ₹2,530.32 Cr in FY25, with net profit rising 14.0% to ₹185.47 Cr from ₹162.68 Cr. However, Q4 FY26 standalone revenue of ₹679.57 Cr declined 7.1% sequentially from ₹731.71 Cr in Q3 FY26, and consolidated Q4 revenue of ₹729.17 Cr fell 9.0% from the prior quarter. The Board recommended a dividend of ₹7.50 per share (750%) and approved the continuation of Mr. T T Raghunathan as Non-Executive Chairman beyond age 75.
- · The Board approved the continuation of Mr. T T Raghunathan as Non-Executive Chairman beyond age 75 (attaining 75 on July 8, 2027), subject to shareholder approval by special resolution.
- · The 70th Annual General Meeting is scheduled for August 4, 2026 via video conferencing.
- · Standalone Q4 FY26 net profit of ₹50.79 Cr was up 72.5% sequentially from ₹29.45 Cr in Q3 FY26, but down from ₹3.94 Cr in Q4 FY25 (which included a ₹32.26 Cr impairment charge).
- · Consolidated Q4 FY26 net profit of ₹36.08 Cr compared to a loss of ₹42.39 Cr in Q4 FY25 (which included a ₹71.42 Cr impairment charge).
- · Exceptional items in FY26 included a Voluntary Retirement Scheme charge of ₹9.98 Cr and an Impact of Labour Codes charge of ₹16.94 Cr (standalone).
- · Standalone cash flow from operations improved to ₹210.53 Cr in FY26 from ₹154.06 Cr in FY25.
- · The company spent ₹86.76 Cr on property, plant and equipment in FY26 (standalone), up from ₹39.04 Cr in FY25.
- · Dividend payout of ₹82.17 Cr in FY26 (standalone) vs ₹83.17 Cr in FY25.
- · Cost Auditor appointed: Ms. Jayanthi Hari for FY27; Internal Auditor: M/s. S Viswanathan LLP for FY27; Tax Auditor: Mr. R V Krishnan for FY27.
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