Q4 FY2026 Quarterly Result Highlights of Trent, Adani Energy Solutions, Bajaj Housing Finance and LTTS

Trent Q4 FY2026 Result: Revenue 20% & PAT 33% up

• Trent reported strong Q4 FY2026 results, with consolidated net profit jumping 33% year-on-year to ₹413.1 crore and revenue growing nearly 20% to ₹5,028 crore.
• The retailer expanded its portfolio to 1,286 stores, with strong growth driven by Westside and Zudio.
• Key Financials (Q4 FY2026)
• Consolidated PAT: ₹413.1 crore, +32.6% YoY.
• Consolidated Revenue: ₹5,027.99 crore, +19.2% YoY.
• Operating EBITDA: ~₹668 crore, +43% YoY.
• Standalone PAT: ₹454.75 crore, +30% YoY.
• EBIT Margin: Expanded to 11.5% from 9.7% YoY.
• Shareholder Actions & Operational Highlights
• Bonus Shares: The board approved a 1:2 bonus issue (1 new share for every 2 held).
• Dividend: Recommended a final dividend of ₹6 per equity share (600%).
• Expansion: Total portfolio reached 1,286 stores, with significant additions in Zudio (109 stores) and Westside (23 stores) during the quarter.
• Capital Raise: Board approved raising ₹2,500 crore via fresh capital to fuel expansion.
• Management Outlook
• Chairman Noel N. Tata cited resilient performance despite macroeconomic challenges, noting that while consumer sentiment was cautious, the company’s differentiated product mix and aggressive expansion continued to drive performance
• Stock Verdict: Positive
• Trent’s Target Price post Q4 FY2026 Result
• Min TP 4,960
• Max TP 5,250
• Avg TP 5095
  4-27-2026 Axis Direct 4,960
  4-27-2026 ICICI Dir 5,075
  4-27-2026 Motilal Oswal 5,250

Adani Energy Solutions Q4 FY2026 Result: Revenue up 17%, PAT 6% Up

• Adani Energy Solutions (AESL) reported a 5.7% YoY rise in Q4 FY2026 consolidated net profit to ₹683.8 crore, driven by a 16.8% increase in revenue to ₹7,443 crore. While operational revenue grew, EBITDA margins saw pressure (approx. 31.9% vs. 35.3% YoY), and the company achieved a milestone of over 113 lakh smart meter installations.
• Key Highlights of Q4 FY2026 Results:
• Net Profit: Increased by 5.7% year-on-year to ₹683.8 crore.
• Adjusted Profit After Tax (PAT) showed a stronger 27.7% YoY growth to ₹723 crore when excluding specific one-time impacts.
• Revenue: Grew by 16.8% year-on-year to ₹7,443 crore.
• EBITDA: Recorded at ₹2,372 crore, showing a 4.9% increase.
• Margins: EBITDA margin compressed,, highlighting pressure from increased operational costs and capex, dropping to 28.8% to 31.9% depending on reporting sources.
• Smart Meters: Achieved a milestone of 113.6 Lakh cumulative installations, with an under-implementation pipeline of 24.6 million meters.
• Capex: Capital expenditure for FY26 increased by 24% to ₹14,232 crore, signaling ongoing investment in transmission infrastructure.
• Operational & Financial Performance:
• The company saw consistent revenue growth, with revenue from operations rising to ₹7,443 crore.
• Interest expenses rose slightly to ₹954.26 crore.
• The transmission business remains a key revenue driver with strong EBITDA margins in the regulated segment.
• Key Operational Milestones:
• Achieved over 113.6 Lakh smart meter installations.
• The under-implementation pipeline includes 13 major projects, signaling substantial future growth potential
• Stock Verdict: Positive

Adani Energy Solutions Target Price post Q4 FY2026 Result

Min TP  1448
Max TP  1452
Avg TP 1450
27 Apr 2026 Prabhudas 1452
27 Apr 2026 IDBI Capital 1448

Bajaj Housing Finance Q4 FY2026 Results Highlights: AUM up 23%, PAT 14% up

• Bajaj Housing Finance Ltd (BHFL) reported strong Q4 FY2026 results, with net profit rising 14.1% year-on-year (YoY) to ₹669 crore, up from ₹587 crore in Q4 FY2025.
• Total income for the quarter grew 15.9% YoY to ₹2,903 crore, driven by 23% AUM growth to ₹1,40,706 crore.
• Key Performance Highlights (Q4 FY2026)
• Net Profit: ₹669 crore (14.1% YoY increase).
• Total Income: ₹2,902.70 crore (15.9% YoY increase).
• Assets Under Management (AUM): ₹1,40,706 crore (23% YoY growth).
• Net Interest Income (NII): ₹945 crore (15% YoY increase).
• Asset Quality: Stable, with Gross NPA at 0.27% and Net NPA at 0.11% as of March 31, 2026.
• Disbursements: Quarterly disbursements rose 23% YoY to ₹17,506 crore.
• Other Highlights
• The company reported a 20% increase in profit before tax to ₹866 crore.
• Operating expenses to net total income ratio improved to 19.2% in Q4 FY26 from 21.8% in Q4 FY25.
• The company has increased its branch network to 226 locations, demonstrating a focus on geographical expansion.
• Key Ratios & Outlook
• Return on Assets (ROA): 2.3% for Q4 FY26, compared to 2.4% in Q4 FY25.
• Capital Adequacy Ratio (CAR): 22.46%, ensuring strong capital base.
• Margins: NII margins showed slight pressure, with a 12 bps drop sequentially in Q4.
• The company recorded a robust performance, reflecting continued strength in the housing finance segment, despite a competitive environment for loans.
• Stock Verdict: Neutral

L&T Technology Services LTTS Q4 FY2026 Result: Revenue up 14%

L&T Technology Services reports 14% (INR) growth in Revenue from Continued Operations for FY26
Sixth straight quarter of consecutive ~$200mn large deal bookings. Divests SWC business To Focus on Engineering Intelligence, Core Segments.

Highlights for FY26 include:

• Revenue at ₹1,09,959 million; growth of 14%
• USD Revenue at $1,233 million; growth of 8.3%
• EBIT margin at 14.5%
• Net Income at ₹12,818 million, growth of 7.4%
• Final dividend of ₹40 per share recommended by the Board

Highlights for Q4FY26 include:

• Revenue at ₹28,579 million; growth of 8.3% YoY and 2.5% QoQ
• USD Revenue at $306 million; growth of 0.3% YoY
• EBIT margin at 15.2%
• Net Income at ₹3,467 million, growth of 23.6%YoY and 8.9% QoQ

LTTS’ FY26 TCV large deal bookings crossed $850 Mn. The Company continued its large-deal momentum, marking the sixth consecutive quarter of ~$200 million in TCV. This includes one $75 Mn deal, two deals valued at $20+ Mn, one deal at $15+ Mn and three deals valued at over $10 Mn+ each.

“Anticipating the business landscape and technology shifts over the next 5 years, we recalibrated our portfolio to focus on profitable growth business, driven by forward looking technologies. Our continued operations (excluding divested business) posted FY26 growth of 8.3% at $1,233 million.

We are also seeing encouraging momentum across key segments. Sustainability continues to scale strongly, supported by a robust pipeline of deal wins, while Mobility has stabilized with new deal wins and is poised for growth.

This overall performance is driven by a sharper, more focused organization, anchored in our approach to Engineering Intelligence (EI), where engineering converges with AI and digital technologies to deliver higher-value solutions and differentiated outcomes for our clients. We surpassed the 235 count in AI patents, taking our total patent portfolio to over 1,700.

As part of our 5-year Lakshya 31-Plan, we aspire to deliver 13–15% CAGR over the next five years. We believe we will continue to grow faster than the industry supported by strong core capabilities and execution discipline,” said Amit Chadha, CEO & Managing Director, L&T Technology Services Limited.

Stock Verdict: Neutral

LTTS Target Price post Q4 FY2026 Result

24 Apr 2026 IDBI Capital 3765
23 Apr 2026 ICICI Sec 3380
23 Apr 2026 Prabhudas 3610