Motilal Oswal Broker Research reports

Data Patterns (DATAPATT) reported a strong quarter, with revenue surging 3.4x YoY. This growth was fueled by a high contribution from the Development segment (up 106x YoY), as the company delivered a strategic contract of ~INR1.8b (taken at a competitive price considering possible longterm opportunities).

ALKEM Laboratories (ALKEM) delivered better-than-expected revenue/EBITDA/PAT, with a beat of 6%/9%/13% for the quarter. The superior performance was driven by broad-based higher revenue growth and lower-than-expected R&D spend for the quarter.

Tata Steel (TATA)’s revenue was in line at INR347b (+7% YoY and 12% QoQ). The increase was aided by a rise in domestic deliveries, which was partly offset by a drop in realizations.

Samvardhana Motherson’s (SAMIL) 2QFY26 adjusted PAT at INR8.6b was well above our estimate of INR6.3b, growing 15% YoY.

Presales: PEPL reported 50% YoY growth and 50% QoQ decline in presales to INR60.2b (52% beat) in 2QFY26, boosted by stellar launches in NCR and Bengaluru.

Page Industries (PAGE) reported muted revenue growth of 4% YoY, with volume growth of 2.5% (est. 4%; 2% in 1QFY26) to 56.6m units.

PN Gadgil Jewellers (PNG) reported a 6% YoY rise in consolidated revenue to INR21.8b (est. INR21.5b) in 2QFY26. Reported growth was impacted by the discontinuation of refinery sales from 3QFY25.

Lemon Tree Hotels (LEMONTRE) reported decent revenue growth of 8% YoY in 2QFY26, led by average room rate (ARR) growth of 6% YoY to INR6,247.

Ipca Laboratories (IPCA) delivered slightly better-than-expected revenue in 2QFY26, while EBITDA/PAT beat our estimates by 18%/22%.

Granules India (GRAN) delivered better-than-expected operational performance (9.5%/8.3% beat on revenue/EBITDA). However, earnings were in line with estimates due to higher depreciation and tax rate for the quarter.