ChartAlert®

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This featured post is about ChartAlert, a Real-Time-Enabled and End-of-Day Technical Analysis Advisory, Charting and Scanning Desktop Software

1–2 minutes

ChartAlert® is a Microsoft® Windows® compatible Real-Time-Enabled and End-of-Day Technical Analysis Advisory, Charting and Scanning Desktop Software that complements your trading and investing needs.

ChartAlert features three seamless modules.

1. The Charting module includes Charting and Masks.

2. The Reporting module includes Basic Advisory Content and Market Reports.

3. The Scanning module includes Basic Scanner, Advanced Scanner, RS Matrix & Trend Matrix, Trading Systems Builder and the Backtester.

BRIGADE – Brigade Enterprises – Q4 FY26 Financial Results – 6-May-26

Brigade’s FY26 shows deliberate transition: monetising residential inventory while building leasing base, suppressing near‑term FCF/earnings. Leasing EBIT +25% and IPUD +88% are long‑term drivers, but cash lags asset creation. Risks: real estate margin erosion, rising debt. Thesis intact for 3–5yr CRE monetisation; near‑term earnings/FCF frustrating.

1–2 minutes

🔍 Observations

Topline

Revenue from operations grew 12.3% YoY (₹5,07,421L → ₹5,69,722L in FY26), driven by Real Estate (+16.7%) and Leasing (+9.9%); Hospitality grew a modest 10.5%.
Q4 FY26 revenue of ₹1,45,760L was flat YoY (+0.2% vs ₹1,46,039L Q4 FY25) and down 7.5% QoQ — sequential softness despite a strong real estate sales pipeline.
Leasing segment crossed ₹1.3L Cr in annual revenue and is becoming a structurally significant revenue contributor alongside Real Estate.

Bottomline

PAT (total) grew 6.5% YoY (₹68,047L → ₹72,476L); however, PAT attributable to owners declined 6.0% (₹68,576L → ₹64,439L) as NCI profits surged — investor-level earnings contracted.
Basic EPS fell to ₹26.36 from ₹28.74 (-8.3% YoY), reflecting both the owner-PAT decline and marginal equity dilution.
Effective tax rate was distorted by large deferred tax credits (₹27,717L vs ₹11,412L in FY25); current tax jumped 50.6% (₹30,292L → ₹45,629L), suggesting growing taxable profits ahead.

Margins

Segment EBIT margin (on segment revenue) was 24.2% in FY26 vs 26.5% in FY25 — Real Estate EBIT dropped sharply from ₹65,003L to ₹56,007L (-13.8%) despite 16.7% revenue growth, indicating cost inflation or mix shift.
PBT margin on revenue from operations: 15.9% (FY26) vs 17.1% (FY25) — compression across the board.
Finance costs fell meaningfully: ₹49,549L → ₹40,944L (-17.4%), partially cushioning the operating margin decline.

Growth Trajectory

3-year revenue CAGR is visibly strong but FY26 incremental operating leverage is missing — revenue +12.3%, EBIT (segment) +4.5%, owner PAT -6.0% — a worrying divergence.
Leasing segment EBIT grew 25.3% (₹58,294L → ₹73,054L), the standout performer; its annuity-like character will increasingly anchor earnings quality.
Real Estate remains the growth engine by size but is delivering declining absolute profit — a structural margin challenge to monitor.

BAJAJ-AUTO – Bajaj Auto – Q4 FY26 Financial Results – 6-May-26

Bajaj Auto’s FY26 strong: core margins firm, exports accelerated, BACL high‑ROE engine. Consolidated PAT +47% flattered by associate reversals/BACL consolidation; standalone PAT +18% cleaner trend. Leverage rising, BACL credit quality key as AUM scales. Long‑term favorable, but FY27 hinges on NPA trajectories and sustained export momentum.

1–2 minutes

🔍 Observations

Topline

Consolidated revenue surged 23% YoY to ₹62,905 Cr in FY26 (vs ₹50,995 Cr), with Q4 FY26 alone jumping 41% YoY to ₹17,832 Cr — the strongest quarterly print of the year.
Export volumes drove outsized momentum: CV exports grew 49% YoY and two-wheeler exports 18%, pushing total export volumes to 22.5 lakh units in FY26.
BACL (financing subsidiary) tripled income to ₹3,248 Cr; its AUM near-doubled to ₹18,835 Cr, making it a material and fast-growing contributor to consolidated topline.

Bottomline

Consolidated PAT attributable to owners jumped 47% YoY to ₹10,744 Cr in FY26; Q4 FY26 PAT of ₹3,662 Cr was up 103% YoY — substantially aided by KTM associate profit reversal of ₹1,195 Cr vs a ₹335 Cr loss in Q4 FY25.
Standalone PAT (before exceptionals) grew a cleaner 18% YoY to ₹9,833 Cr, reflecting core automotive profitability without associate noise.
Tax efficiency improved: effective tax rate fell to ~24.2% in FY26 (Total Tax ₹3,377 Cr / PBT ₹13,952 Cr) vs ~28.4% in FY25, aided by deferred tax credits.

Margins

Standalone EBITDA margin expanded 30 bps YoY to 20.5% for FY26 and held firm at 20.8% in Q4 FY26 — disciplined cost management despite a ₹6,567 Cr jump in raw material costs.
Finance costs on a consolidated basis more than tripled YoY to ₹1,169 Cr (vs ₹389 Cr), reflecting BACL’s borrowing scale-up; ex-financial services, the increase is a more contained ₹260 Cr vs ₹68 Cr.
Other expenses rose 49% YoY to ₹5,113 Cr — faster than revenue growth of 23% — flagging cost inflation in distribution and overheads worth monitoring.

Growth Trajectory

Total volumes grew 10% YoY to 51.2 lakh units; revenue per unit economics improved sharply, with standalone revenue up 17% on just 10% volume growth — mix upgrade and pricing discipline at work.
BACL’s PAT surged from ₹58 Cr to ₹665 Cr in one year, contributing meaningfully to consolidated profit growth beyond the core automotive business.
Q4 FY26 sequential revenue growth of 10% (₹16,204 Cr → ₹17,832 Cr) confirms momentum is building, not plateauing.

POLYCAB – Polycab India – Q4 FY26 Financial Results – 6-May-26

Polycab’s FY26 strong: revenue scale, margin expansion, FMEG profitability inflection, FCF nearly tripled. FY27 watch items: ₹42,656M acceptances unwind, receivables impairment trajectory, EPC stabilization. Earnings engine intact, but investors must stress‑test working capital assumptions before fully crediting OCF print.

1–2 minutes

🔍 Observations

Topline

Revenue surged 28.9% YoY to ₹288,838M in FY26, with Q4 FY26 alone at ₹88,645M — up 26.9% YoY, signaling accelerating momentum into year-end.
Wires & Cables dominates at ₹255,344M (88.4% of segmental revenue), growing 32.7% YoY; FMEG scaled 23.0% YoY to ₹20,693M.
EPC contracted 13.2% YoY to ₹16,665M — the only segment shrinking, dragging blended growth.

Bottomline

PAT jumped 32.4% YoY to ₹27,084M in FY26; Q4 PAT at ₹7,856M grew 7.0% YoY but was up 24.7% QoQ, reflecting strong sequential recovery.
Basic EPS rose from ₹134.34 to ₹177.53 (+32.2% YoY), tracking PAT growth closely with minimal dilution.
Effective tax rate eased to 25.0% in FY26 vs. 24.3% in FY25, largely stable; deferred tax credit of ₹344M aided PAT modestly.

Margins

EBITDA proxy: PBT ₹36,131M + D&A ₹3,859M + Finance Costs ₹2,430M = ₹42,420M → EBITDA margin 14.7% on revenue of ₹288,838M vs. ~13.7% in FY25 (₹30,678M / ₹224,083M) — ~100bps expansion.
Net profit margin improved to 9.4% in FY26 from 9.1% in FY25 on revenue; contained material cost ratio (71.3% vs. 68.9% in FY25) offset by operating leverage on fixed costs.
FMEG turned profitable in FY26 at ₹548M segment profit vs. a loss of ₹389M in FY25 — a structural inflection.

Growth Trajectory

Revenue CAGR implied over FY25–FY26: 28.9%; PAT CAGR: 32.4% — bottomline outpacing topline signals operating leverage in play.
Q4 FY26 revenue of ₹88,645M is the highest ever quarterly print, up 16.0% QoQ — growth isn’t decelerating.
EPC revenue decline and rising material costs (₹206,157M vs. ₹154,174M, +33.7%) are the two variables to watch for FY27 sustainability.

GODREJCP – Godrej Consumer – Q4 FY26 Financial Results – 6-May-26

GODREJCP’s FY26 delivered 8.4% topline growth with momentum, but flat PAT, margin compression, and tripling exceptional charges erased leverage. Intangibles at 48% of assets and sub‑1.0 current ratio tighten liquidity. Dividends exceed FCF, funded by liquidations; re‑rating hinges on Africa scaling profitably and traded‑goods pricing offset.

1–2 minutes

🔍 Observations

Topline

India segment drove FY26 revenue, growing 7.9% YoY (₹8,779 Cr → ₹9,474 Cr); Africa accelerated sharply at +23.1% (₹2,562 Cr → ₹3,154 Cr), offsetting Indonesia’s -2.5% decline.
Consolidated revenue from operations rose 8.4% YoY (₹13,997 Cr → ₹15,178 Cr); Q4 FY26 grew 11.0% YoY (₹3,514 Cr → ₹3,900 Cr), sustaining quarterly momentum.
Stock-in-trade purchases nearly doubled YoY (₹865 Cr → ₹1,671 Cr), signalling a structural shift toward outsourced/traded goods — compressing gross economics.

Bottomline

PAT nearly flat YoY: ₹1,852 Cr → ₹1,861 Cr (+0.5%), despite 8.4% revenue growth — exceptional items of ₹233 Cr (vs ₹63 Cr in FY25) were the primary drag.
Deferred tax credit sharply lower (₹373 Cr → ₹123 Cr), meaning reported PAT overstated operational tax efficiency in FY25; FY26 reflects a more normalised tax burden.
Q4 PAT grew 9.7% YoY (₹412 Cr → ₹452 Cr) on 11% revenue growth — quarterly trajectory healthier than the full-year picture.

Margins

Operating margin held at 20.9% (FY26) vs 21.5% (FY25) — compression of ~60 bps driven by traded goods mix shift and higher employee costs (+7.3% YoY).
Net profit margin contracted 100 bps YoY (13.3% → 12.3%), partly distorted by lower deferred tax credits and higher exceptional charges; underlying operating efficiency relatively stable.
EBIT-level segment results improved across all geographies except Indonesia; Africa’s segment result grew 10.6% (₹341 Cr → ₹377 Cr) on 23% revenue — margin still thin at ~12%.

Growth Trajectory

FY26 revenue CAGR (FY25→FY26) at 8.4%; PAT growth essentially zero — topline scaling is not yet translating to bottomline compounding.
Africa + Others segment now constitutes ~27% of revenue (up from ~25% in FY25) — geographic diversification increasing but with lower profitability profiles.
EPS flat: ₹18.11 (FY25) → ₹18.19 (FY26), +0.4% — shareholders saw no earnings growth despite 8% revenue expansion.

BLUESTARCO – Blue Star Ltd – Q4 FY26 Financial Results – 6-May-26

Blue Star’s FY26 shows margin gains and EMP scaling, but CFO ₹154 Cr vs ₹527 Cr PAT exposes weak cash conversion. Payables reversal and rising borrowings highlight timing strain. Unitary Products’ 5.2% decline and FCF deficit temper EMP/capex story; FY27 hinges on WC normalization and unitary stabilization.

1–2 minutes

🔍 Observations

Topline

Q4 FY26 revenue ₹4,072 Cr, up 1.3% YoY (vs ₹4,019 Cr Q4 FY25); full-year FY26 at ₹12,402 Cr, up 3.6% YoY — modest growth for a ₹12K Cr business.
EMP & Commercial AC segment drove annual growth, rising 12.7% YoY (₹5,998 Cr → ₹6,763 Cr); Unitary Products declined 5.2% (₹5,621 Cr → ₹5,332 Cr), dragging overall topline.
Professional Electronics remains a minor contributor (₹307 Cr, 2.5% of revenue), declining 11.9% YoY — a structural softness worth monitoring.

Bottomline

FY26 net profit ₹527 Cr, down 10.8% YoY (vs ₹591 Cr FY25); Q4 FY26 PAT ₹227 Cr improved 17.1% QoQ and 17.1% YoY over Q4 FY25’s ₹194 Cr.
Exceptional items distorted full-year PBT: net exceptional charge of ₹38.83 Cr in FY26 vs. ₹12.51 Cr gain in FY25 — a ~₹51 Cr swing that explains part of PAT compression.
FY26 EPS ₹25.65 vs. ₹28.76 in FY25, an 10.8% decline — earnings dilution despite flat share count signals operating-level pressure.

Margins

FY26 operating margin improved to 7.50% from 7.32% in FY25 — a 18 bps expansion despite revenue softness, reflecting cost discipline.
Net profit margin compressed to 4.23% from 4.91% — a 68 bps decline driven by higher finance costs (₹72 Cr vs. ₹49 Cr, +47.8% YoY) and depreciation (₹179 Cr vs. ₹128 Cr, +39.3% YoY).
Q4 FY26 net margin at 5.55% is the strongest quarterly print, above the full-year average — seasonal Q4 strength is intact.

Growth Trajectory

3.6% revenue CAGR implied in the one-year FY25→FY26 comparison is below inflation — real revenue growth is effectively flat.
Capex intensity rising: PPE grew ₹127 Cr net YoY; intangible assets up ₹42 Cr — investment cycle underway but payoff not yet visible in topline.
EMP segment EBIT margin: ₹501.91 Cr on ₹6,762.80 Cr = 7.42% vs. 8.18% in FY25 — segment profitability eroding even as revenue grows.

SHREECEM – Shree Cement – Q4 FY26 Financial Results – 6-May-26

Shree Cement’s FY26 delivered strongest PAT in years, aided by flat energy costs, lower depreciation, and controlled capex. Balance sheet fortress‑grade with ₹8,352 Cr liquid and 25x DSCR. Risks: Q4 EBITDA miss, pricing headwinds, receivables/inventory build, OCF decline. FY27 hinges on margin sustainability and working capital discipline.

1–2 minutes

🔍 Observations

Topline

Revenue from Operations rose 8.6% YoY (₹19,282.83 Cr → ₹20,943.47 Cr in FY26), with Q4 FY26 alone up 10.3% YoY (₹5,532.02 Cr → ₹6,101.00 Cr), signalling accelerating momentum into year-end.
Q4 FY26 sequential jump of 27.1% (₹4,800.52 Cr → ₹6,101.00 Cr) reflects typical Q4 cement demand seasonality — not a structural inflection.
Other Income declined as a revenue driver: flat/lower contribution (₹589 Cr → ₹661 Cr, +12.2%) relative to operating scale, keeping quality of topline intact.

Bottomline

PAT surged 55.6% YoY (₹1,123.80 Cr → ₹1,748.66 Cr), materially outpacing revenue growth — driven by operating leverage and a 65.3% jump in PBT (₹1,311.51 Cr → ₹2,293.01 Cr).
Effective tax rate compressed sharply: FY25 tax rate was ~14.3% (₹187.71 Cr on ₹1,311.51 Cr PBT) vs. FY26 ~23.7% (₹544.35 Cr on ₹2,293.01 Cr) — FY25 was flattered by large deferred tax credits (₹148.44 Cr); FY26 normalises.
Basic EPS nearly doubled: ₹311.18 → ₹483.24 (+55.3%), with Cash EPS at ₹1,247.83 reflecting the company’s high depreciation-adjusted earning power.

Margins

EBITDA margin expanded ~200 bps: FY25 EBITDA/Revenue = ₹4,523.25/₹19,282.83 = 23.5%; FY26 = ₹5,298.69/₹20,943.47 = 25.3% — despite Power & Fuel flat-lining (₹5,011 Cr → ₹5,020 Cr), Freight rising 8.9%, and Employee costs up 13.5%.
Net profit margin expanded from 5.8% (₹1,123.80/₹19,282.83) to 8.3% (₹1,748.66/₹20,943.47) — 250 bps improvement, aided by depreciation falling ₹3,006.78 Cr → ₹2,793.96 Cr (-7.1%).
Q4 FY26 EBITDA margin compressed QoQ: ₹1,485.15/₹6,101.00 = 24.3% vs. Q3’s ₹1,092.83/₹4,800.52 = 22.8% — improvement, but still below Q4 FY25’s 28.7% (₹1,586.50/₹5,532.02), signalling pricing pressure.

Growth Trajectory

Revenue CAGR of ~8.6% (1-year) is moderate for a large-cap cement player; volume-driven rather than price-led growth suggests market share focus over margin maximisation.
PAT growth of 55.6% YoY is exceptional but partly base-effect driven (FY25 PAT was depressed by lower EBITDA and elevated depreciation); sustainability depends on pricing environment in FY27.
Depreciation declining while PPE grows (₹8,548 Cr → ₹10,370 Cr) indicates older asset base fully amortised — near-term capex cycle cooling post heavy investment in FY25 (₹4,093 Cr capex).

CGPOWER – CG Power – Q4 FY26 Financial Results – 6-May-26

CG Power’s FY26 upcycle: Power Systems margins rising, near‑zero debt, ₹3,000 Cr QIP. Risks: receivables outpacing revenue, deteriorating OCF compressing FCF. Semiconductor bet dilutes near‑term margins, absorbs capital before payoff. Industrial Systems margin erosion is immediate consensus risk; Q1FY27 commentary key for trajectory.

1–2 minutes

🔍 Observations

Topline

Revenue scaled 25.3% YoY to ₹12,418 Cr in FY26, with Q4 FY26 posting ₹3,442 Cr — the strongest single quarter on record, up 25.0% YoY.
Power Systems drove outperformance: ₹5,138 Cr in FY26 vs ₹3,510 Cr in FY25 (+46.4% YoY), absorbing macro capex tailwinds in T&D and industrial power.
Semiconductors added ₹503 Cr in its first full year of operations (Axiro acquisition); Industrial Systems grew a modest 5.8% YoY to ₹6,747 Cr, indicating maturation in that segment.

Bottomline

PAT rose 23.2% YoY to ₹1,199 Cr in FY26; Q4 FY26 PAT of ₹363 Cr grew 32.5% YoY — acceleration in the exit quarter signals operational leverage kicking in.
Effective tax rate normalized to ~26.4% in FY26 (vs a distorted 27.8% in FY25 driven by ₹190 Cr deferred tax charge); current tax jumped to ₹471 Cr vs ₹185 Cr, confirming MAT credit exhaustion and shift to full tax paying status.
Employee costs surged 55.2% YoY (₹613 Cr → ₹952 Cr), reflecting headcount expansion tied to semiconductor operations and new business build-out — the single fastest-growing cost line.

Margins

Consolidated EBIT margin compressed to 13.3% in FY26 from 14.1% in FY25; Power Systems partially offset this by expanding EBIT margin to 21.8% (+280 bps YoY).
Industrial Systems EBIT margin contracted sharply from 11.6% to 9.3% — a 230 bps deterioration suggesting pricing pressure or cost absorption in that segment.
Semiconductor segment dragged consolidated EBIT by ₹108 Cr in FY26; excluding Semiconductors, consolidated EBIT margin would be materially higher, masking underlying segment-level strength.

Growth Trajectory

Three-year topline CAGR (implied from FY25 base of ₹9,909 Cr to FY26’s ₹12,418 Cr) reflects a step-change driven by organic Power Systems growth and inorganic Semiconductor addition.
QIP of ₹3,000 Cr in FY26 has nearly doubled equity base (₹4,038 Cr → ₹8,198 Cr), positioning the company to fund future capacity expansion without leverage — a structural inflection.
EPS grew from ₹6.38 to ₹7.72 (+21.0% YoY) despite the equity dilution from QIP and ESOP issuances, confirming that earnings growth outpaced share count expansion.

ACUTAAS – Acutaas Chemicals – Q4 FY26 Earnings Call – 30-Apr-26

ACUTAAS’ topline growth hinges on CDMO/battery chem execution, while margins depend on mix management—base case supports 25% revenue growth with stable margins, but downside risks are operationally material.

1–2 minutes

3-Scenario Framework

📊 Base Case (50% Probability)

Key Variables: Fermion CDMO and battery chem ramp as guided, Indichem JV on track for H2 CY26 completion, pharma intermediates grow steadily.
Outcome: 25% revenue growth (INR1,675 cr in FY27), EBITDA margins ~35% (mix of CDMO, BFC, battery chem), PAT grows ~25–30%. Working capital stabilizes at 120 days; capex at INR100 cr manageable with INR198 cr cash buffer. Goodwill remains recoverable if JV meets projections.

VEDL – Vedanta Ltd – Q4 FY26 Earnings Call – 29-Apr-26

VEDL’s topline growth hinges on volume ramp-ups (Gamsberg, BALCO) and commodity prices; margins depend on cost controls (alumina, copper) and de-merger execution; bottomline resilience tied to debt servicing and dividend flexibility.

1–2 minutes

3-Scenario Framework

📊 Base Case (60% Probability)

Key Variables: Athena Unit 1 restarts in H2 FY27, Gamsberg Phase 2 hits 4.5L tons by FY28, zinc prices average $2,800–3,000/ton.
Outcome: EBITDA grows 10–12% YoY (driven by aluminium, zinc, power). De-merger unlocks 15–20% valuation premium for pure-plays. Net debt/EBITDA remains <1x; dividend yield stabilizes at ~4%.

LAURUSLABS – Laurus Labs Ltd – Q4 FY26 Earnings Call – 30-Apr-26

1–2 minutes

3-Scenario Framework

📊 Base Case (50% Probability)

CDMO grows 15–20% annually, with EBITDA margins at 26–28% as operating leverage offsets input costs. ARV revenue flat at INR 2,800 crore, reducing to <30% of total sales by FY27. Capex of INR 3,000 crore delivers ROCE of 15–17%. Key variables: Fermentation scale-up, non-ARV formulation growth.