Indian listed companies
2 articles · 7 reports · 41 insights
HPCL's refining margin rose 3.7x, yet its profit fell 9%
HPCL's refineries earned US$ 32.15 a barrel against US$ 8.80, yet its quarterly profit fell 9% and it lost ₹8,044 crore over 6 months, held down by what it sells fuel for.
23 October 2026Read more →Havells' cables brought 59% of new sales, 21% of new profit
Havells' sales rose 34.6% in the September quarter, and cables brought 59% of the rise. But cable profit rose 9%, so most of the profit growth came from switchgear.
23 October 2026Read more →Balkrishna makes Pirelli tyres before the 50:50 venture
Balkrishna's 50:50 car tyre venture with Pirelli is due only by December 2030. Until then BKT simply makes Pirelli's tyres at Bhuj, paid raw material at cost plus conversion costs.
23 October 2026Read more →Rent and stock options are 36% of Vishal Mega Mart's EBITDA
Vishal Mega Mart reported ₹412.0 crore of EBITDA for July to September 2026. Count store rent and stock options as costs and it is ₹262.2 crore, up 3.7% while sales grew 14%.
21 October 2026Read more →Mahindra Holidays' 17% profit rise came from lower tax
Mahindra Holidays says group profit after tax rose 17% in the September quarter. Profit before tax fell 4%; a ₹4.1 crore smaller tax bill made the difference.
21 October 2026Read more →3,897 of SBI's 375,000 leaked records held customer details
SBI says about 375,000 of its records surfaced on the dark web; a first look found customers' personal details in 3,897, about 1 in 96. The source is not yet known.
21 October 2026Read more →What happened to India's biggest digital signature seller?
Browsers dropped one of eMudhra's root certificates in October 2026. A 2024 rule had already cut its certificate sales by up to half.
20 October 2026Read more →HFCL's telecom products earn more than the whole company
HFCL's profit rose 5.5x. Telecom products made ₹716 crore before interest and tax, more than all 4 segments' ₹600 crore, because turnkey contracts lost ₹123 crore.
20 October 2026Read more →Prices, not output, drove Hindustan Zinc's 142% profit jump
Hindustan Zinc's September quarter profit rose 142% while it sold only 8% more metal. Its own bridge credits higher prices and a weaker rupee with 81% of the EBITDA rise.
20 October 2026Read more →Urban Company's InstaHelp loses ₹279 on every ₹114 order
InstaHelp lost ₹174 crore in Q2 FY27, more than Urban Company's whole operating loss. Its loss per order fell, but mostly because the orders got smaller.
20 October 2026Read more →Depreciation takes 43% of E2E Networks' operating profit
E2E Networks' 76.6% operating margin leaves out the cost of its GPUs. Depreciation took 43% of that profit, and net profit was 32.5% of revenue.
20 October 2026Read more →Omaxe plans ₹4,000 crore of hotels funded by buyers' money
Omaxe's 10 hotels for Lemon Tree to run will cost about ₹4,000 crore. With its net worth below zero, it plans to pay from sales, not loans.
20 October 2026Read more →IRCON fined for 9 quarters over seats the government fills
NSE and BSE fined IRCON ₹1.67 crore over 9 quarters for seats only the government can fill. NSE has waived the committee fines, but not the board fine.
20 October 2026Read more →Without one-off gains, DLF's own pre-tax profit fell 34%
DLF's September quarter profit rose 10% on a ₹738.71 crore revaluation gain. Take each year's one-off out and its own pre-tax profit fell 34%.
17 October 2026Read more →Yes Bank's ₹8,415 crore AT-1 bonds return after court ruling
The Supreme Court restored ₹8,415 crore of Yes Bank's AT-1 bonds, written off in its 2020 rescue. The bank's core equity ratio falls from 14.0% to about 11.5%.
17 October 2026Read more →Fairfax wins IDBI Bank after the government cuts its price
Fairfax will buy 60.72% of IDBI Bank for ₹52,878 crore (₹81 a share) after the government's first asking price of ₹94.42 failed. The state and LIC give up control.
16 October 2026Read more →Hyundai's $15.5 billion India capex plan
Hyundai Motor Group's $15.5 billion India plan spans several companies and does not say how much Hyundai Motor India will spend; its own plan is ₹45,000 crore by FY30.
16 October 2026Read more →Panel, turbine, wire, plug: who makes money at each step?
India added about 45 GW of solar in the year to March 2026. Filings show who works at each step of the wind and solar chain, and who keeps the profit.
14 October 2026Read more →Bhavish Aggarwal pledges Ola shares to fund his rights issue
Bhavish Aggarwal pledged 16.3% of his Ola Electric shares to borrow his ₹265 crore share of Ola's rights issue, 9 months after he cleared his last pledge.
14 October 2026Read more →Sify Infinit Spaces, a data centre company listing soon
Sify's data centre arm says it has over 500 clients. Its draft prospectus shows one unnamed client paid 46% of FY25 revenue and brought 76% of the year's growth.
14 October 2026Read more →NPPA's cancer drug margin cap could save ₹2,500 crore a year
India's drug price regulator plans to cap what the supply chain adds to cancer drug prices at 30% of MRP, saving about ₹2,500 crore a year.
14 October 2026Read more →Paytm's gaming arm owes ₹1,407 crore, already written off
A GST order on First Games, a shut Paytm gaming company, is ₹703.66 crore of tax plus an equal penalty. Paytm says its impact is nil because it wrote First Games down to zero earlier.
14 October 2026Read more →Who makes money from India's sugarcane?
Sugar mills owed farmers ₹1,12,740 crore for one season of cane. Company filings show who works at each step from field to buyer, and who keeps the profit.
13 October 2026Read more →Prime Focus fell 9.5% on a tax search, back up the same day
Prime Focus shares fell 9.5% after an income tax search on 7 October, then won back about 2/3 of the fall by the close.
9 October 2026Read more →False YouTube tips sent Sadhna Broadcast up 19x, then down
False YouTube tips sent Sadhna Broadcast up 19x in 2022 while people linked to its promoters sold. SEBI is still collecting from 5 of them.
9 October 2026Read more →From drug trading to Gujarati TV
A pharma shell turned Gujarati streaming stock, with ₹24 crore of sales. 9 people got every new share, at ₹5 to ₹20 after the split.
2 October 2026Read more →SEBI could not prove the Adani public shareholding charge
SEBI found no proof that Vinod Adani controlled 2 foreign funds holding Adani shares. The companies had already settled for ₹1.48 crore, and 2 people were fined ₹20 lakh each.
30 September 2026Read more →Growpital's fake jeera crop helped hide a ₹193 crore fraud
SEBI found Growpital raised ₹192.88 crore from 5,208 investors through unlicensed farming LLPs, fabricating revenues including ₹61.68 crore from a jeera plot worth at most ₹30 lakh, while 2 conduits settled for ₹40.56 lakh each.
30 September 2026Read more →Metal stocks track copper, but copper buyers' stocks do not
Hindustan Copper, Hindalco and NALCO moved the same way as copper in about 2 of every 3 weeks. Appliance makers, which buy copper, did so about half the time.
29 September 2026Read more →Universities carry the risk in Elevate Campuses' hostels
Elevate Campuses buys a university's hostels for 50 to 60 years. The university promises they stay about 83% full, pays any shortfall, and can be made to buy them back.
28 September 2026Read more →How did a shrimp farm become a software company?
It farmed prawns, sold phone subscriptions, then traded shrimp. Now it books ₹3 crore a quarter of software sales with no named customer.
25 September 2026Read more →RBI fines Hero FinCorp 6 days before IPO approval lapses
The RBI fined Hero FinCorp ₹10 lakh for charging some borrowers too much interest. The fine is small. The deadline for its IPO, 30 September, is the bigger problem.
25 September 2026Read more →Only 3 SEMICON India stocks make or design chips themselves
SEMICON India 2026 lifted chip stocks for a day, but only CG Power, Kaynes Technology and MosChip make or design chips themselves.
23 September 2026Read more →Whirlpool rose 20% on news its promoter may sell everything
Both earlier sales went onto the open market and pushed the share down. One buyer taking the whole 39.76% would end the selling instead.
23 September 2026Read more →The curious case of funding "cases"
Five Rivers is raising a $25-50 million fund to finance lawsuits, the first SEBI-registered fund set up for this. The returns sound too good to be true, and India's slow courts are why they exist.
19 September 2026Read more →Record sales of ₹3,524 crore, and 1.5% kept as profit
Profit was ₹52 crore on ₹3,524 crore of sales, the overseas plants earn 4%, and the Group CFO just quit.
18 September 2026Read more →SEBI flags ₹541.3 crore of Kore Digital revenue as misstated
SEBI's interim order says ₹541.3 crore of Kore Digital's FY25 and FY26 revenue was prima facie misstated, mostly through three recently incorporated subsidiaries.
18 September 2026Read more →How an ownership problem becomes a "special situation"
Great White Global made ₹101 crore of profit in FY25. A 50:50 fight between the two brothers who owned it, not the business, is what brought in Edelweiss's special-situations funds.
18 September 2026Read more →RBI rejects Tata Sons' bid to avoid a stock market listing
The RBI has refused to let Tata Sons escape the NBFC rules, so the unlisted Tata holding company may finally have to list.
16 September 2026Read more →It borrowed to buy Sojern, and now earns per booking or campaign
It spent its cash and borrowed to buy Sojern. Now four fifths of its revenue is paid per booking or campaign.
15 September 2026Read more →Kamarajar Port’s IPO helps repay the loan that bought it
Kamarajar Port's ₹1,200 crore IPO is a pure sale by Chennai Port, which borrowed 74.5% of the price when it bought the port from the Centre in 2020.
15 September 2026Read more →UltraTech’s wires push lands harder on KEI than Polycab
UltraTech bought a distribution moat, not a cables moat, so the fight is in shop-sold house wires, where KEI has more to lose than Polycab.
14 September 2026Read more →Apple’s new Siri could favour marketplaces over small stores
AI shopping agents run on clean product data that marketplaces already hold in one place, and Shopify is racing to give small stores the same.
14 September 2026Read more →Four questions to ask of ARCIL after its 20x IPO
ARCIL's IPO was subscribed 20.1x but raised nothing for the company. Recovery, book age, cash profit and its own stake are what to check.
14 September 2026Read more →Svitzer orders eight tugs from Indian yards in eight months
India builds 0.06% of the world's ships, yet Svitzer ordered eight tugs from Indian yards in eight months, helped by a subsidy and green port rules.
14 September 2026Read more →A plant at 124%, and a new one that keeps slipping
A factory running at 124%, a new one on its fourth start date, and paperwork that keeps showing small cracks.
13 September 2026Read more →Infra.Market uses Shalimar Paints, 36 times smaller, to list
Infra.Market is skipping its ₹5,000 crore IPO and reaching the market through Shalimar Paints, a listed company about 36 times smaller than itself.
13 September 2026Read more →Chalet’s hotels last decades. Kimbell’s oil wells don’t.
Chalet Hotels and Kimbell Royalty Partners both own the asset and let someone else do the work, but only one of them is racing its own decline.
10 September 2026Read more →RPG Life Sciences buys an approved plant before US tariffs
RPG Life Sciences agreed to pay about 7x sales for an approved API plant, because in pharma the approval takes years and the US tariff clock is already running.
9 September 2026Read more →Who's following the truck drivers?
A 93% contribution margin, ₹26 crore of borrowings against ₹1,104 crore of cash, and a customer nobody else builds for.
8 September 2026Read more →