Birla Corporation (BCORP)’s 1QFY26 EBITDA increased ~34% YoY to INR3.5b (~8% miss due to lower-than-estimated realization). EBITDA/t was up ~23% YoY to INR725 (est. INR838), and OPM surged 2.3pp YoY to ~14% (est. ~16%).