Synopsis: From automobiles and pharmaceuticals to defence, metals, fintech, and commodity exchanges, six prominent Indian stocks delivered exceptional earnings growth in Q4 FY26, with net profits rising up to 427% year-on-year.
While many companies reported steady results in the March 2026 quarter, a handful delivered truly exceptional earnings growth. Backed by stronger revenues, better operating performance, and favourable industry trends, these six stocks more than doubled their net profits compared to a year ago, with one company posting a staggering 427% increase. Six Stocks That Almost Doubled Their Quarterly Profit in Q4 FY26
Bajaj Auto
Bajaj Auto is one of India’s largest two-wheeler and three-wheeler manufacturers, with a strong presence in both domestic and export markets. The Pune-based company sells motorcycles and commercial vehicles under the Bajaj, Pulsar, Dominar, and Chetak brands, and has built a growing portfolio in electric two-wheelers alongside its combustion engine lineup.
The company posted a consolidated net profit of Rs 3,492 crore in Q4 FY26, nearly double the Rs 1,802 crore reported in Q4 FY25 – a growth of 94% year on year. Revenue from operations rose to Rs 17,832 crore from Rs 12,646 crore a year ago. Operating profit stood at Rs 3,075 crore against Rs 2,358 crore, though the operating profit margin came in at 17% compared to 19% in the year-ago period. Other income surged to Rs 1,894 crore in the quarter, significantly boosting the profit before tax to Rs 4,336 crore.
Lupin
Lupin is among India’s top pharmaceutical companies, with a significant presence in the US generics market alongside businesses in India, Europe, and other emerging markets. The Mumbai-based firm manufactures a wide range of formulations across respiratory, cardiovascular, anti-infective, and central nervous system therapy areas.
Lupin’s consolidated net profit rose to Rs 1,469 crore in Q4 FY26 from Rs 782 crore in Q4 FY25, a year-on-year jump of 88%. Revenue from operations grew to Rs 7,475 crore from Rs 5,667 crore. Operating profit expanded sharply to Rs 2,486 crore from Rs 1,321 crore, with the operating profit margin improving to 33% from 23% a year ago. Profit before tax came in at Rs 1,928 crore versus Rs 896 crore in the same quarter last year.
Lloyds Metals and Energy
Lloyds Metals and Energy is a fast-growing integrated steel and mining company with operations in sponge iron, steel, and iron ore. The company has been rapidly scaling its pellet and steelmaking capacity and holds significant iron ore mining rights in Maharashtra, positioning it as a vertically integrated player in the domestic steel value chain.
Lloyds Metals reported a consolidated net profit of Rs 1,066 crore in Q4 FY26, a massive 427% jump compared to Rs 202 crore posted in Q4 FY25. Revenue from operations jumped to Rs 4,913 crore from Rs 1,193 crore a year ago. Operating profit surged to Rs 1,614 crore from Rs 261 crore, with the operating margin holding at 33%. Profit before tax came in at Rs 1,515 crore compared to Rs 245 crore in the year-ago quarter, reflecting the sharp scale-up in mining and steel output.
Mazagon Dock Shipbuilders
Mazagon Dock Shipbuilders is a state-owned defence shipyard under the Ministry of Defence, and one of India’s premier naval shipbuilding companies. The Mumbai-based yard builds submarines, destroyers, frigates, and other warships for the Indian Navy, and has been at the centre of India’s push to expand domestic defence manufacturing.
Mazagon Dock posted a consolidated net profit of Rs 674 crore in Q4 FY26, more than double the Rs 325 crore earned in Q4 FY25 – a year-on-year increase of 107%. Revenue from operations grew to Rs 3,850 crore from Rs 3,174 crore. Operating profit rose to Rs 543 crore, with the operating margin improving to 14% from 4% in the year-ago quarter. Profit before tax stood at Rs 793 crore versus Rs 370 crore a year ago, aided by strong execution across ongoing naval contracts.
Groww (Billionbrains Garage Ventures)
Groww, operated by Billionbrains Garage Ventures, is one of India’s largest retail investment platforms, offering stock broking, mutual fund distribution, and other financial products to millions of retail investors. The Bengaluru-based fintech has grown rapidly on the back of rising participation in Indian equity markets over the past few years.
The company’s consolidated net profit rose 122% year on year to Rs 686 crore in Q4 FY26, up from Rs 309 crore in Q4 FY25. Revenue from operations rose to Rs 1,505 crore from Rs 801 crore a year ago. Operating profit grew to Rs 938 crore from Rs 388 crore, with the operating profit margin improving to 62% from 48%. Profit before tax came in at Rs 936 crore against Rs 414 crore in Q4 FY25, reflecting strong growth in broking volumes and platform monetisation.
Multi Commodity Exchange (MCX)
MCX is India’s largest commodity derivatives exchange, offering futures and options contracts across metals, energy, and agricultural commodities. Listed on the BSE and NSE, the Mumbai-based exchange earns revenue primarily through transaction charges and has benefited significantly from rising commodity trading volumes and the expansion of options contracts on its platform.
MCX reported a consolidated net profit of Rs 530 crore in Q4 FY26, a year-on-year surge of 293% from Rs 135 crore posted in Q4 FY25. Revenue from operations rose to Rs 889 crore from Rs 291 crore a year ago. Operating profit surged to Rs 665 crore from Rs 160 crore, with the operating profit margin expanding sharply to 75% from 55%. Profit before tax stood at Rs 682 crore compared to Rs 168 crore in the year-ago quarter, driven by a strong jump in trading volumes across commodity segments.
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