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South Indian Bank (SIB) reported a strong Q4FY26 result, characterised by an acceleration in loans/CASA growth and a sharp improvement in slippages, gross and net NPA, while sustaining >1% RoA.

Despite INR 1.6bn of prudential provisioning, Karur Vysya Bank (KVB) reported strong Q4FY26 PAT of INR 7.25bn, up 41% YoY (~8% beat), led by robust NII growth (25% YoY), although FY27 NIM/RoA outlook appears guarded.

Home First Finance (HomeFirst)’s disbursements reached INR 15.7bn in Q4FY26 (up 19% QoQ), breaking multi-quarter average range of INR 11–13bn.

Hexaware (HEXW) reported revenue growth and EBIT margins slightly better than those expected by the company at the start of the quarter in Q1CY26.

Brigade Enterprises (BRGD) clocked FY26 sales bookings worth INR 74bn (down 5% YoY) owing to delayed approvals. Heading into FY27, management guides for INR 90bn of sales bookings (20% YoY growth) and intends to launch projects with GDV of ~INR 120bn in FY27.

We attended Waaree Energies Limited’s (WEL) investor day, wherein management laid out an aggressive roadmap to scale revenue to INR1t by 2030, supported by a sharp acceleration across C&I, KUSUM, and rooftop solar segments.

Raymond Lifestyle (RLL) reported a weak 4QFY26 performance, with EBITDA at INR1.2b missing estimates due to lower gross margins and higher operating costs.

Radico Khaitan (RDCK) continued to deliver robust P&A volume growth and strong operating performance in 4QFY26/FY26. Revenue growth was 15% YoY at INR15.0b, with P&A value growth at 29%.

KPIT Technologies (KPIT) reported revenue of USD185m in 4QFY26, up 1.8% QoQ in CC terms vs. our estimate of 1% growth.

Home First Finance (HOMEFIRST)’s 4QFY26 PAT grew 43% YoY to INR1.5b (in line). PAT for FY26 grew ~41% YoY to INR5.4b. NII in 4QFY26 grew 37% YoY to INR2.4b (in line). Other income grew 37% YoY to INR730m.

Hexaware Technologies (HEXT) reported revenue of USD389m in 1QCY26, down 0.3% QoQ in CC terms vs. our estimate of 0.5% QoQ CC.

In 4QFY26, Brigade Enterprises’ (BRGD) pre-sales rose 3% YoY to INR25.2b (6.7% below estimates). Volumes stood at 2msf, down 4% YoY.

Avalon Technologies (AVALON) reported a robust 4QFY26, with revenue growing 40% YoY, fueled by a strong performance US businesses (up 64%) and healthy performance in Indian business (up 13% YoY).

Arvind Fashions (AFL) ended FY26 on a strong note, with 4Q/FY26 LFL growth of 8%, led by robust performance in US Polo and Flying Machine.

Aditya Birla Real Estate (ABREL)’s 4Q presales dipped 24% YoY to INR42.9b; however, they were in line with our estimate.

Bajaj Auto’s (BJAUT) Q4FY26 operational performance surpassed our estimate. Growth in the domestic motorcycle industry is expected to moderate to ~7–9% in the near term due to price hike(s), manpower migration and weakening consumer sentiment.

CESC reported a Q4FY26 EBITDA of INR 12bn (+23% YoY) and a profit of INR 4.4bn (+18% YoY), aided by acquisition of Chandigarh DISCOM and new power tie-up at attractive prices for Chandrapur thermal power plant (effective Apr’25 for two years).

Cummins India (KKC) is India's largest manufacturer of diesel and natural gas engines, generator sets and power solutions, commanding a dominant position across Industrial, infrastructure and data center endmarkets, backed by global technology strength of Cummins Inc. and a strong push towards emissioncompliant platforms, connected digital platforms, and adjacent products in the...

Aptus Value Housing Finance India Ltd delivered a strong FY26 performance, with AUM growing ~21% YoY to Rs13,107 crore, supported by improving disbursement momentum and calibrated portfolio expansion. Management strategically discontinued sanctions below Rs7 lakh to improve borrower quality and reduce exposure to microfinance-type customers, leading to better bureau profiles and lower bounce rates. Despite near-term moderation in incremental yields due to competitive pricing, profitability remained robust with PAT rising ~26% YoY to Rs943 crore, RoA at ~8.2% and Q4 RoE at ~21%. Spreads improved...

Birlasoft delivered a mixed FY26, with full-year revenues declining 6% in dollar terms to ~USD 598mn, weighed down by a soft demand environment, clientspecific headwinds in the life sciences/med-tech vertical, deliberate exits from low-margin contracts (~200bps revenue impact), and upfront productivity pass through on AI deals. Margin recovery was remarkable and EBITDA expanded 333bps YoY to 16.3% in FY26, reaching 18.5% in Q4, aided by cost rationalization, forex tailwinds (~170bps), and one-time provision reversals (~170bps). PAT for Q4 surged 47% QoQ to ~INR 1.76bn. Deal wins stayed above USD 200mn TCV for the second consecutive quarter. Management is doubling...