Q1 Results Highlights: L&T's June quarter earnings beat estimates; Asian Paints net profit drops 6%

"This quarter we have performed well across all financial parameters. At a Group level, we registered once again, the highest order inflow for Q1 ever. Besides improved performance on all P&L parameters, the return ratios have also moved higher. The projects and manufacturing businesses of the Company continues to perform well. The record order book of ₹ 6 lakh crore+ is a testimony of our proven expertise in the domains of engineering, construction, manufacturing, and project management," said S.N. Subrahmanyan, Chairman and Managing Director of L&T.

Larsen & Toubro (L&T) said that it received order worth Rs 94,453 crore in Q1 FY26. "The Company registered a y-o-y growth of 33% aided by a strong ordering momentum witnessed across diverse businesses. During the quarter, orders were received across multiple businesses like Thermal BTG, Renewables, Power Transmission & Distribution, Hydel, Non-Ferrous Metals, Offshore & Onshore businesses of Hydrocarbon, Commercial and Residential projects. International orders stood at ₹ 48,675 crore, accounting for 52% of the total order inflow," the firm said.

As on June 30, 2025, the company's consolidated order book stood at Rs 6.13 lakh crore. This is 6% higher than consolidated order book at the end of March. The share of international orders is 46%.

Larsen & Toubro (L&T) reported a net profit of Rs 3,617 crore for Q1 FY26. This marks a 30% YoY rise from Q1 FY25. This is higher than MC poll estimate of Rs 3,469 crore.

The firm's revenue from operations rose 15.5% YoY to Rs 63,678 crore. This is also higher than the MC poll estimate of Rs 63,451 crore.

International Gemmological Institute (IGIL) reported a net profit of Rs 126.5 crore for Q1 FY26. This marks a 62% YoY rise from the Rs 77.8 crore net profit reported in Q1 FY25. The firm’s revenue from operations rose to Rs 301 crore.

Bank of India reported a net profit of Rs 2,252 crore for Q1 FY26. This marks a 32% YoY rise from the Rs 1,703 crore net profit reported in Q1 FY25. Its net interest income reduced to Rs 6,068.11 crore

Piramal Enterprises has reported a net profit of Rs 276 crore for Q1 FY25. This marks a 52% YoY rise from Q1 FY25. Revenue from operations rose 19% YoY to Rs 2,642 crore.

HeidelbergCement India reported a net profit of Rs 48.23 crore for Q1 FY26. This marks a 21% YoY jump from the Rs 39.9 crore net profit reported in Q1 FY25. Revenue from operations rose to Rs 597.5 crore.

Greenply Industries reported a net profit of Rs 28.42 crore for Q1 FY26. This marks a 14% YoY drop from the Rs 33 crore net profit reported in Q1 FY25. The firm’s revenue from operations rose to Rs 601 crore.

NSE reports 10 percent QoQ rise in net profit to Rs 2,924 crore.

"The paint industry experienced a slight uptick this quarter, driven by marginally improved demand from urban centres, despite monsoons slowing the momentum in June. Our revenues for the coatings business in India were 0.2% lower than last year. Domestic Decorative paints business did relatively better compared to the earlier quarters, registering a volume growth of 3.9% and a revenue decline of 1.2%. The revenues from the Industrial Coatings business grew by 8.8%, on the back of good performance in Auto & Protective coating segments. The operating margins for the quarter were marginally lower on a year on year basis on account of higher sales and marketing investments," said Amit Syngle, Managing Director & CEO of Asian Paints.

"The home décor business was slow due to subdued retail consumption however the retail chain of Beautiful Homes Stores did well. On the international front, the portfolio delivered a strong performance with a revenue growth of 11.1% on a like-to-like basis (20.4% in constant currency terms), with all key markets in the Middle East and South Asia performing well. Confident in the long-term growth potential of home décor and paints industry, we continue to drive innovation and strengthen our brand saliency as we navigate the current demand challenges," he said.

Asian Paints shares gained nearly 2% to trade at Rs 2402.50 apiece. This comes after the company released its results for Q1 FY26.

Asian Paints has reported a net profit of Rs 1,100 crore for Q1 FY26. This marks a 6% YoY drop from the Rs 1,170 crore net profit reported in Q1 FY25. The net profit however is in line with MC poll estimate.

The firm's revenue from operations dropped marginally to Rs 8,939 crore, beating MC poll estimate of Rs 8,905 crore.

V-Guard Industries shares dropped more than 2 percent after the company released its results for the April-June quarter of FY26. The shares are trading at Rs 378.15 apiece.

V-Guard Industries reported a net profit of Rs 73.85 crore for Q1 FY26. This marks a 25% YoY drop from the Rs 98.97 crore net profit reported in Q1 FY25. The firm’s revenue from operations meanwhile decreased to Rs 1,466 crore.

Jubilant Pharmova reported a net profit of Rs 103 crore for Q1 FY26. This marks a 79% drop from the Rs 482 crore net profit reported in the corresponding quarter of the previous financial year. The firm’s revenue from operations meanwhile rose 10% YoY to Rs 1,901 crore.

Gabriel India reported a net profit of Rs 62 crore for Q1 FY26. This marks a 8% YoY jump from the Rs 58 crore net profit reported in Q1 FY25. The firm’s revenue from operations rose to Rs 1,098 crore.

Amber Enterprises reported a net profit of Rs 104 crore for Q1 FY26. This marks a 44% YoY jump from the Rs 72.33 crore net profit reported in Q1 FY25. The firm's revenue from operations rose to Rs 3,449 crore.

Larsen & Toubro (L&T) is expected to report robust Q1FY26 results on July 29, led by strong execution across its international and E&C segments.

According to a Moneycontrol poll of six brokerages, the net profit of the engineering, procurement, and construction (EPC) major is expected to grow 25 percent year-on-year (YoY) to Rs 3,469 crore. The brokerages added that a combination of weak order inflows, segmental margin pressure, and a cautious project conversion cycle, especially in the Middle East, may limit upside in the near term.

The firm’s consolidated revenue is projected to rise 15 percent YoY to Rs 63,451 crore, while EBITDA (earnings before interest, taxes, depreciation, and amortisation) is expected to remain flat at 10.2 percent.

Arvind reported a net profit of Rs 53.24 crore for Q1 FY26. This marks a 35% YoY rise from the Rs 39.31 crore net profit reported in Q1 FY25. The firm’s revenue from operations meanwhile rose nearly 10% YoY to Rs 2,006 crore.

Happiest Minds Technologies reported a net profit of Rs 57 crore for Q1 FY26. This marks a 12% YoY rise from the Rs 51 crore net profit reported in Q1 FY25. The firm’s revenue from operations rose to Rs 549.9 crore.

Apar Industries shares sharply gained over 9% after the company released its results for April-June quarter of FY26. The shares are trading at Rs 9,378 apiece.

Apar Industries reported a net profit of Rs 263 crore for Q1 FY26. This marks a 30% YoY jump from the Rs 202.54 crore net profit reported in Q1 FY25. The firm’s revenue from operations rose 27% YoY to Rs 5,104 crore.

Along with the April-June quarter results, Varun Beverages also announced that its board has approved the appointment of Pankaj Madan as its Chief Financial Officer (CFO). His appointment will be effective from July 30.

Madan was earlier the CFO at IndiGo-parent. Prior to that, he was CFO of several organizations including IndiGo airlines, Bharti Walmart, Cargill Thailand, Grampian Country Food (Thailand), Telstra Singapore & India.

Pepsi India bottler Varun Beverages announced that its board of directors has approved the payment of the second interim dividend of Rs 0.50 (Fifty paisa) per share for the financial year 2025. The record date to determine the eligibility of the shareholders set to receive the payment has been set on August 2. The dividend will likely be paid on or before August 5.

Varun Beverages reported a net profit of Rs 1,317 crore for the April-June quarter of FY26. This marks a 5% YoY rise from the Rs 1,252.6 crore net profit reported in the corresponding quarter of the previous financial year. The firm's revenue from operations however fell more than 2% YoY to Rs 7,163 crore.

Asian Paints shares were trading in the red ahead of its April-June quarter earnings announcement. The shares were down 0.72% to Rs 2,342.50 apiece.

The raw material prices and their impact on margins will also be watched, along with increasing competitive intensity. Further, there will be a close watch on any commentary on price hikes and narrowing gap between volume and value growth.

Sales and volumes are likely to be poor this quarter, as a broad-based slowdown in consumption continued to weigh on sentiment. Further, a premature monsoon also dampened expectations.

• Urban Slowdown: The growth remains muted, as demand conditions has not seen any meaningful improvement from prior quarters, particularly in urban markets," said Kotak Institutional Equities. The brokerage added, "We anticipate some uplift in price/mix, partly supported by price hikes implemented over the past year (a cumulative increase of one percent over the last nine months)." Nuvama Institutional Equities added, "Demand remained challenging in urban while rural shall continue to improve gradually. However, we expect B2B to grow in double digits due to promising capital outlay." The brokerage added that it estimates Asian Paints shall grow slower than peer Berger Paints as the former dominates big cities, which are facing the brunt of the slowdown. "However, we anticipate a slight sequential improvement."
• Volumes: Brokerages said that a slight improvement in volumes is likely on a sequential basis,  even though competitive intensity remains high. According to Motilal Oswal, volume growth is expected to be 7 percent in domestic decorative paints. The gap in volume and value growth is due to downtrading.
• Margins: Gross margins are likely to expand to 43.5-43.9 percent, according to brokerages, as a result of benign raw material environment. However, this will be partly weighed down by increased trade spends and an unfavourable mix. The EBITDA margin is expected between 18.5 percent and 19 percent, as gross margin expansion was partly offset by negative operating leverage and higher operating costs amid intensified competition.

India’s largest paint player Asian Paints is set to report its earnings show for the quarter ended June on July 29. However, muted urban demand, high competition and high operating costs could dampen the company's performance.

According to a Moneycontrol poll of 7 brokerages, Asian Paints is likely to report a 0.8 percent on-year fall in revenue to Rs 8,905 crore, down from Rs 8,970 crore reported during the same time last year. Net profit is likely to fall 6 percent on-year to Rs 1,099 crore, down from Rs 1,170 crore from the corresponding quarter last year