Unlike several industries that rely heavily on global suppliers for chemicals, HCP sources most chemicals domestically for captive use. Chemicals/allied agents i.e., Sodium Isopropyl Xanthate, Somfroth and Flocculants are largely procured locally, which limits direct exposure to global trade flows.
UPL has unveiled a strategic three-phase restructuring of its operations to establish a pure-play listed crop protection company by consolidating its global and domestic franchises.
Global Health’ revenue (up 19% y/y) beat ARe/Ce by 6/3% in Q3FY26, while EBITDA (down 10% y/y) missed ARe/Ce by 4/8%. While PAT fell 8% y/y, APAT plunged 33.5%, owing to adjustment for labour code in the exceptional items.
In line with ARe and consensus estimates, Rainbow Children’s Medicare reported decent set of number in Q3FY26, with revenue/EBITDA/PAT growing by 12/9/6% y/y.
Sharda Cropchem continued to outperform in Q3FY26, aided by healthy, 14% y/y volume growth, positive product-mix and favourable forex and market-share gain in its key regions.
Persistent sustained its ‘consistent compounding’ narrative for another quarter with 4.1% q/q and 17.3% y/y CC revenue growth to $423mn aided by a healthy order book along with (LTM TCV up 14.2% y/y) continued deepening of its large-client relationships.
Bansal Wire Industries is planning to undertake greenfield and brownfield expansion at Sanand and Dadri to augment its installed capacity by ~24% to 0.77m tonne over the next 2-3 years.
Despite furloughs, LTIMindtree (LTIM) delivered a solid performance in Q3FY26, with CC revenue rising by 2.4% q/q to $1.21bn and EBIT margin expanding by 20bps q/q to 16.1% LTIM saw a one-time labourcode impact of Rs5.9bn.
Excluding one-offs, trends were in-line with expectations with core PPoP growing by 6.9% y/y (up 3.4% q/q). Credit growth accelerated to 11.5% y/y (vs 10.3% y/y in Q2FY26) with stable NIMs.
Tech Mahindra (“TechM”) delivered a healthy performance even in a furlough quarter, with 1.7% q/q growth in CC revenue, 100bps q/q expansion in EBIT margin to 13.1% and TCV crossing $1bn, on the back of a 5-year, $500m European telco modernisation deal (to ramp up from Q1FY27).
Polycab delivered a strong performance in Q3FY26 with revenue and earnings growing by 46% y/y and 36% y/y, respectively led by robust execution in Wires & Cables (W&C) and sustained profitability in FMEG segments.
TBO Tek is well-placed for continued growth in the global travel distribution market with the acquisition of Classic Vacations (integrated in Oct-25) adding to its capabilities.
Another +1%/+15% RoA/RoE quarter. Asset quality continued to remain healthy with gross/net slippages at 78/6bps. Credit growth saw a ~200bps sequential acceleration, driven by retail segment, while CASA ratio improved meaningfully by 145bps y/y.
Infosys delivered a resilient performance in a seasonally softer quarter with 0.6% q/q cc revenue growth and a large deal TCV of $4.8bn (up 92% y/y), aided by ~$1.6bn NHS deal.
