Motilal Oswal Broker Research reports

ALKEM is taking significant steps in its Medtech journey through acquiring Occlutech (develops, manufactures, and commercialized medical devices for congenital heart disease, stroke prevention and heart failure).

PLNG’s 3QFY26 EBITDA (adjusted for labor codes impact of INR254m) came in 7% above estimate at INR12.2b (flat YoY). EBITDA adjusted for UoP provisioning and waiver stood 21% above our estimate.

Mrs. Bectors Foods (MBFSL)’s consolidated revenue grew 8.4% YoY to INR5.3b in 3QFY26, led by strong performance in the bakery segment (+13.1% YoY, B2C – high teens and QSR – mid single digit).

Inox Wind (IWL) reported a quarterly consolidated revenue of INR12.1b (+33% YoY, +8% QoQ), which missed our estimates by 34%, largely on account of weakerthan-expected execution of 252MW vs. our estimate of 300MW.

EPL reported revenue of INR11.5b (up 13% YoY) in 3QFY26, in line with estimates, driven by revenue growth across geographies.

Blue Jet Healthcare (BLUEJET) reported revenue of INR1.9b in 3QFY26, down 39% YoY, primarily due to pharma intermediate destocking and the timing of sales recognition (goods in transit of 3Q will be recognized in 4Q) in contrast media.

Info Edge (INFOE)’s standalone revenue stood at INR7.6b in 3QFY26, up 13.9% YoY/2.5% QoQ, in line with our estimate of ~INR7.7b. EBITDA margin came in at 42.5% (up 290bp QoQ/down 60bp YoY), above our estimate of 38.8%. Total billings rose 11.8% YoY to INR7.4b.

Time Technoplast (TIME) reported a healthy and in-line set of results in 3QFY26. Volume/revenue/EBITDA/PAT grew 16%/13%/16%/25% YoY. EBITDA margin expanded 46bp YoY to 14.9%.

PI Industries (PI) reported a weak quarter as revenue declined 28% YoY, primarily due to a 32% YoY dip in the CSM business, attributable to global slowdown and cautious customer scheduling (volume declined 29% YoY).

Revenue for 3QFY26 stood at INR1.3b (against our est. of INR1.9b), rising 10% YoY but declining 19% QoQ. Black galaxy granite production stood at 15.3k cbm (-3% QoQ) during 3QFY26, while absolute black granite stood at 9.5k cbm (-10% QoQ).