Q3 FY2026 Quarterly Result Highlights of Eternal, Waaree Energies, Jindal Stainless, KEI Industries, Gravita India, Anant Raj and Epack Prefab Tech

Eternal Q3 FY2026 Results Highlights: Net Profit grew by 57%, revenue grew 20% YoY, CEO quits

• During Q3 FY26, Eternal reported a net profit of ₹102 crore. Revenue for the quarter was also aided by higher other income.
• Revenue for the quarter increased to ₹16,315 crore. The topline growth was led by the Quick Commerce business.
• Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter stood at ₹368 crore, while margins expanded by 50 basis points to 2.3% from 1.8% last year.
• On a year-on-year basis, Eternal’s net profit grew by 57%, revenue grew 20%, while EBITDA was up 54% from last year.
• Eternal also announced that its Quick Commerce and Hyperpure businesses turned Adjusted EBITDA profitable during the quarter.
• Quick Commerce’s net order value (NOV) grew by 121% from last year, impacted partially by GST changes and seasonality.
• Net order value (NOV) for the food delivery business was up by 16.6% from last year.
• District’s losses increased on account of continued investments in category creation. Expect losses to reduce sequentially towards breakeven in the next 4-6 quarters.
• Eternal’s Quick-Commerce business turned profitable with an Adjusted EBITDA profit of ₹4 crore compared to a loss of ₹156 crore in the previous quarter. 90% of Blinkit’s net order value came from its own inventory.
• Eternal Ltd. has announced along with its December quarter results that MD & CEO Deepinder Goyal has quit and has been proposed to be named as Vice Chairman and Director. Blinkit CEO Albinder Dhindsa has been named the new MD & CEO of Eternal.
• Stock Verdict: Positive

Waaree Energies Q3 FY2026 Results: Record Double Revenue and Profit YoY

Metric	Q3 FY26	YoY Growth
Revenue from Operations	₹7,565.05 crore	+118.8%
EBITDA	₹1,928.15 crore	+167.2%
Net Profit (PAT)	₹1,106.79 crore	+118.4%
EBITDA Margin	25.49%	+461 bps

• One of the strongest signals from the Waaree Energies Q3 Results is the unprecedented order book strength. Order book close to ₹60,000 crore, Revenue visibility for the next 2 to 3 years. Diversified mix of domestic and international customers.

Strategic Expansion Beyond Solar Modules

• The Waaree Energies Q3 FY26 Results also underline a strategic transformation from a pure module manufacturer to an integrated clean energy platform.
• Battery Energy Storage Systems
• Planned 20 GWh lithium-ion battery capacity
• Phase 1 of 3.5 GWh is expected to commence in FY27
• ₹1,003 crore raised specifically for this segment
• Inverters and Power Electronics
• Commissioning of a 3.05 GW solar inverter facility in Sarodhi, Gujarat
• Improves vertical integration and project-level economics
• Supply Chain De-Risking
• $30 million investment in a polysilicon producer in Oman
• Enables a non-China traceable supply chain
• Stock Verdict: Positive

Jindal Stainless Q3 FY2026 Earnings Results: Profit up 27% YoY, margin improves

• Jindal Stainless Ltd reported a strong set of earnings for the third quarter, with net profit rising 26.6% YoY, supported by higher revenue, improved operating performance and margin expansion.
• The company posted a net profit of ₹828.8 crore for the quarter, compared with ₹654.3 crore in the corresponding period last year. Revenue rose 6.2% year-on-year to ₹10,517.6 crore from ₹9,907.3 crore.
• EBITDA increased 16.6% to ₹1,408 crore from ₹1,207.5 crore a year ago, while operating margins expanded to 13.4% from 12.2% in the year-ago quarter, reflecting improved profitability.
• Stock Verdict: Positive

KEI Industries Q3 FY2026 Results: Revenue up 20% & Profit up 42% YoY

• Revenue from operations rose 19.5% to ₹2,954 crore from ₹2,472 crore, reflecting sustained traction across its core business segments. Net profit for Q3FY26 surged 42.5% year-on-year to ₹235 crore, compared with ₹165 crore in the corresponding quarter last year. 
• Operational metrics also showed marked improvement. EBITDA increased 39.08 YoY to ₹354 crore from ₹254crore, leading to an expansion in EBITDA margin to ~12% versus 10.29% in Q3FY25.
• The margin expansion underscores better cost management and higher operational efficiencies.
• Export sales grew impressively by 95% in the quarter, contributing to the overall growth. The company is optimistic about achieving a 20% plus growth in the full year and improving operating margins further.
• KEI continues to strengthen its technological capabilities and product offerings. Through a technical collaboration with BRUGG, the company manufactures EHV cables of up to 400 kV, positioning it well to capitalise on large-scale transmission and renewable energy opportunities. 
• During the quarter, the company also commenced Phase I commercial production at its greenfield LT/HT cables facility in Sanand, Gujarat, a development expected to augment capacity and enhance supply-chain efficiencies in the coming periods.
• Stock Verdict: Negative

Gravita India Q3 FY2026 Result: PAT up 25%and Revenue stable

• Gravita India reported strong Q3 financial results with consolidated net profit rising 25.42% YoY to ₹97.70 crores.
• Revenue grew 2.11% to ₹1,017.00 crores while EBITDA surged 47.97% to ₹120.00 crores.
• EBITDA margin expanded significantly to 11.80% from 8.14% in the previous year, demonstrating improved operational efficiency and cost management.
• Strong profit growth: Net profit increased by over 25% despite modest revenue growth
• Margin expansion: EBITDA margin improved by more than 3.5 percentage points
• Operational leverage: Significant improvement in earnings quality and cost management
• Consistent performance: Maintained revenue growth while enhancing profitability
• Stock Verdict: Negative

Anant Raj Q3 FY2026 Results: Profit rises 31% YoY & margin expands

• Anant Raj reported a strong Q3FY26 performance, with net profit rising 30.7% YoY, supported by healthy revenue growth and improved operating margins. The company’s consolidated net profit rose to ₹144.2 crore, compared with ₹110.3 crore in the corresponding quarter last year.
• Revenue for the quarter increased 20% to ₹641.6 crore from ₹534.6 crore a year earlier, reflecting steady momentum across its operations.
• Earnings before interest, tax, depreciation and amortisation (EBITDA) grew 26.8% YoY to ₹169.5 crore, up from ₹133.6 crore in the year-ago period.
• Expenses Rise, But Profitability Stays Strong
• Total expenses increased 18.5% YoY to ₹488.60 crore in Q3 FY26, mainly due to higher operating and development costs. Despite this, strong revenue growth helped maintain healthy profitability.
• Business Outlook And Expansion Plans
• Anant Raj said the expansion of Ashok Cloud projects at Manesar and Panchkula is at an advanced stage and is expected to be operationalised in Q4 FY26.
• The company has also signed an MoU with the Andhra Pradesh government to set up a new 50 MW IT data centre. With this, Anant Raj aims to expand its total data centre capacity to 357 MW IT load, with around 171 MW expected to be operational by FY28.
• On the real estate front, the company plans to launch its luxury residential project ‘The Estate One’ in Gurugram by Q4 and begin deliveries for Project Navya, a joint venture with Birla Estates.
• Stock Verdict: Negative

Epack Prefab Technologies Q3 FY2026 Result: 21% EBITDA Growth & Margin Compression

• Epack Prefab Technologies delivered strong Q3 performance with EBITDA growing 21.2% YoY to ₹326 crores from ₹269 crores, demonstrating robust business expansion.
• The EBITDA margin compressed slightly to 10.02% from 10.11% YoY, indicating some operational efficiency challenges. Overall, the results showcase the company’s ability to scale operations and maintain strong earnings growth in the prefabricated construction market.
• Q3 revenue fell 25% QoQ to ₹325 crores, and net profit dropped 43% to ₹16.8 crores.
• Stock Verdict: Negative, 10% lower circuit