Q4 FY26 Earnings Season: Small-Caps & Micro-Caps Shine
India’s Q4 FY26 earnings season has highlighted strong momentum in the small-cap and micro-cap space, with several companies reporting exceptional profit growth, margin expansion, and operational turnarounds.
Micro-Caps Deliver Big Surprises
Among the standout performers, Indus Finance reported a massive 1,725% YoY jump in net profit to ₹1.46 crore, while revenue surged over 457%.
Kriti Industries also impressed investors by swinging from a loss in Q4 FY25 to a profit in Q4 FY26, triggering a 20% upper circuit in the stock.
Meanwhile, Acutaas delivered strong operational performance with 33% revenue growth and EBITDA margins of 35.87%, significantly above guidance.
Small-Caps Post Robust Earnings
The small-cap segment witnessed strong performances across sectors.
Tips Music reported a stellar quarter with PAT growth of 92.9% and revenue growth of 32% YoY.
HFCL Ltd posted record quarterly sales of ₹1,824 crore, up 127.8% YoY, while net profit surged 319.2% to ₹178.5 crore.
Wockhardt returned to profitability with a ₹164 crore profit compared to a ₹45 crore loss last year.
Apcotex Industries and Bhagyanagar India also delivered strong earnings growth, with Bhagyanagar reporting a 258% rise in PAT.
Turnarounds & Margin Expansion in Focus
Companies showing operational recovery also attracted attention.
MIC Electronics reported strong EBITDA growth of 60.6%, despite a tax-related loss.
Muthoot Microfin returned to profit with ₹71.1 crore earnings after reporting a heavy loss last year.
Sterlite Technologies also turned PAT positive at ₹59 crore following a strategic business turnaround.
Overall, Q4 FY26 has reinforced strong earnings momentum in the broader market, with investors increasingly focusing on small and micro-cap companies delivering scalable growth, improving margins, and successful operational turnarounds.

PNB Housing

BDL follow up lacking so keep trailing

Foseco India : Low volume counter. Lot of flirting around 50 DMA. Showing early signs of bottoming process. Keep on watch

Again gap down.. Market is stuck in a broader range seems particularly Nifty

Very sharp correction from recent swing high. Bears are in total control for the last 2 days. Large caps are really struggling to sustain at higher levels.

For Long term keep adding Niftybees. Swing Trading is now difficult. I have few swing positions, few have hit SL while some are near breakeven.

Recent rally in small cap did not make us realize this pain of Nifty50

Open Swing as per Pullback swing strategy. No follow up in most cases. 🫣

Timken was risk free and hit trail Stop. Four positions opened today.

Keep on watch for momentum

HEG showing stability

NTPC not triggered yet and there are other few names from Power sector which have not triggered

Market under pressure. Nifty 50 at 23262.55 (recent swing low). 📉 Bulls unlikely to defend long. Bank Nifty trading below recent swing. 🏦

Nifty 500 : Bearish and Aggressive Window is open.

These are potential names for short term swing