Daily Filing Digest: Saturday, 24 Oct 2026

A Saturday of bank results. Kotak Mahindra Bank's standalone profit rose 29% to ₹4,212 crore, but its net interest margin fell to 4.31% from 4.54% as it raised about ₹55,344 crore of FCNR(B) deposits. IDFC First Bank raised ₹34,390 crore of the same deposits and nearly tripled its profit to ₹1,045 crore. AU Small Finance Bank's profit rose 53% to ₹858 crore. Castrol India grew revenue 27% but its EBITDA fell 19% to ₹262 crore on raw-material costs, and it named Price Waterhouse as its next auditor. KEC International won ₹2,872 crore of Power Grid orders. And Yes Bank told bondholders it has not yet decided whether to pay the 18 October coupon on its 9% AT-1 bonds.

The ones to read first

• Kotak Mahindra Bank: the media release shows standalone profit of ₹4,212 crore, up 29%, and consolidated profit of ₹5,645 crore, up 26%. Net advances grew 25% to ₹577,295 crore (19% excluding FCNR-backed loans and the portfolio bought from Kotak Mahindra Investments). The bank raised about ₹55,344 crore of FCNR(B) deposits in the quarter; the net interest margin fell to 4.31% from 4.54%, and the CASA ratio to 38.2% from 42.3%. Gross NPA was 1.04% against 1.39%.

  • The board appointed whole-time director Anup Kumar Saha as MD and CEO for three years from 1 January 2027, subject to shareholders; the RBI approved him on 30 September.
  • Full read: Kotak Q2: FCNR Deposits Lift the Book, Trim the Margin

• Castrol India (calendar-year company): the results and press release show July–September revenue of ₹1,735 crore, up 27%, but EBITDA down 19% to ₹262 crore and profit after tax of ₹176 crore against ₹228 crore. The company cites "High double-digit commodity cost inflation addressed with pricing actions". The board also approved the appointment of Price Waterhouse Chartered Accountants LLP as statutory auditor for five years from the 2027 AGM, subject to shareholders, in place of Deloitte Haskins & Sells LLP, which completes its second five-year term (mandatory rotation).

  • Full read: Castrol India: Revenue Up 27%, EBITDA Down 19%

Q2 results

• IDFC First Bank: the press release shows profit of ₹1,045 crore, up 196.5%, and deposits up 25.9% to ₹3,48,583 crore. It raised ₹34,390 crore (about US$3.6 billion) of FCNR(B) deposits, which it says are "optically NIM-dilutive". Gross NPA was 1.32% and net NPA 0.40%. S&P assigned the bank a debut investment-grade rating of BBB-. The board also approved S. Ganesh Kumar as part-time non-executive chair, subject to approvals.
  • Full read: IDFC First Q2: Profit Triples, Margin Slips to 5.58%
• AU Small Finance Bank: the press release shows profit of ₹858 crore, up 53%, with the net interest margin up to 5.8% from 5.5% as the cost of funds fell to 6.41% from 6.83%. Deposits grew 28.6% to ₹1,70,460 crore; gross NPA was 1.99% and net NPA 0.81%. ICRA moved its AA rating outlook to Positive from Stable.
  • Full read: AU Small Finance Bank Q2: Cheaper Money Lifts Margin to 5.8%
• Netweb Technologies: the press release shows revenue of ₹13,233 million, up 335.7%, and profit of ₹1,367 million, up 334.8%. The order book was ₹26,290 million at 30 September, plus ₹6,525 million of L1 positions; the company says it raised ₹12,000 million, its first capital raise since listing.
• Apollo Micro Systems: the press release shows record revenue of ₹388.1 crore and profit of ₹46.2 crore, with an order book of ₹1,765 crore at 30 September.
• Lumax Auto Technologies: the press release shows revenue of ₹1,556 crore, up 35%, and EBITDA of ₹228 crore against ₹170 crore. The board approved a mechatronics plant at Manesar with a capital outlay of around ₹150 crore and expected peak turnover of around ₹500 crore, commissioning in two phases from Q3 FY2028.
• Kajaria Ceramics: the investor release shows revenue up 24% to ₹1,468 crore on 10% volume growth, with a 19.5% EBITDA margin. The board approved revised costs for its Srikalahasti (12.50 MSM, an estimated ₹340 crore) and Gailpur (11 MSM, ₹180 crore) expansions, a ₹34 crore tile-adhesive plant at Durgapur and a ₹12 interim dividend.
• JK Cement: its paints subsidiary JK Maxx Paints will build a 75,000 KLPA water-based paint plant in Telangana for about ₹130 crore, within the ₹600 crore already approved for paints; its Bhiwadi plant runs at 60% of 73,000 KLPA. The board also recommended Price Waterhouse as JK Cement's statutory auditor for five years.

Deals and capital

• Jio Platforms (Reliance Industries' subsidiary) filed its IPO prospectus.
• IDBI Bank: Crisil placed its long-term debt on AA/Watch Positive. The rationale links this to Fairfax's proposed purchase of 60.72% of the bank from the government and LIC at ₹81 a share, about ₹52,878 crore in all.
• VRL Logistics filed its letter of offer to buy back up to 87.50 lakh shares (5% of its equity) at ₹320 each, up to ₹28,000 lakh (₹280 crore, our arithmetic).
• Dynamatic Technologies approved moving its UAV vertical to its subsidiary Dynauton, which will raise ₹37.45 crore by preferential issue; Dynamatic's stake would fall from 100% to about 83.33%.
• Orchid Pharma licensed its antibiotic Exblifep to Laboratorio Libra for nine Latin American markets, which it puts at about US$80 million of potential commercial opportunity over the first 10 years.
• Sakuma Exports approved a preferential issue of up to 65 crore shares at ₹1.66 to nine allottees, up to ₹107.90 crore, subject to shareholders.
• Hariom Pipe Industries signed a non-binding MoU with the Andhra Pradesh Economic Development Board for a proposed integrated steel plant of about ₹700 crore.
• Raymond approved changing its name to "Raymond Aerospace, Defence & Engineering Limited", subject to shareholders and regulators.
• Stakes and pledges:
  • Orient Cement: Endeavour Trade and Investment refinanced a facility on 21 October, extending Deutsche Bank's security interest over 149,292,730 Orient Cement shares, 72.66% of the voting capital. Deutsche Bank's matching disclosure on Ambuja Cements covers the 1,663,381,052 Ambuja shares (66.94%) held by Endeavour, Holderind and Harmonia, under a new facility taken "to refinance and repay one of the facilities" under the original agreement.
  • EPL: Bandhan Mutual Fund bought 65,47,262 shares (2.04%), taking its holding to 9.40% from 7.36%.
  • Themis Medicare: promoter entity Vividhmargi Investments pledged 15,00,000 shares (1.63%) for a ₹135 crore borrowing; encumbered promoter shares are now 4.89%.
  • Gallantt Ispat: Smriti Agrawal received 91,98,700 shares (3.812%) by gift, within the promoter group.

Orders and operations

• KEC International won orders of ₹2,872 crore from Power Grid for 765 kV transmission lines tied to the evacuation of 8.5 GW of renewable power from Gujarat; it says year-to-date order intake has crossed ₹13,500 crore.
• Ramky Infrastructure signed an EPC contract with Rail Vikas Nigam for works at Bacheli, Chhattisgarh, worth about ₹588.57 crore including GST, over 30 months.
• B. L. Kashyap won a ₹495.86 crore order (excluding GST) from Signature Global for civil and part MEP work on four towers, over about 40 months.
• Rachana Infrastructure (SME) won a contract to widen the Nalsarovar–Viramgam state highway to four lanes, worth ₹146,98,03,309.20 excluding GST (about ₹147 crore, our arithmetic).
• Indo Tech Transformers won an order of ₹47.485 crore plus taxes for four power transformers from Shyam SEL & Power.
• Ritco Logistics reported new business of about ₹119.55 crore in September.
• RailTel received a letter of intent from Munitions India for data-centre work estimated at ₹20,04,04,809 including tax (about ₹20 crore, our arithmetic); Takyon Networks got a ₹19.40 crore order from Hindustan Power Exchange.
• Paradeep Parivahan signed a 10-year contract with JSW Cement and JSW Eco-Mobility to deploy 100 electric trucks moving about 1,25,000 MT a month.
• Ashoka Buildcon: an SPV received a provisional completion certificate covering 47.196 km in aggregate, with a further 4.221 km declared commercially operational from 13 October.
• Seamec: its vessel SEAMEC SWORDFISH was off-hired from 24 October after a technical breakdown, which it says is being fixed on priority.
• Permanent Magnets: the results presentation shows revenue of ₹72.46 crore, up 49%, EBITDA up 159% to ₹17.81 crore, and Phase 2 capacity commissioned in October.

Ratings and the fine print

• Yes Bank said its 9% AT-1 bonds had a coupon payment date of 18 October 2026. While it evaluates the Supreme Court's AT-1 judgment, it "will communicate its decision, if any, on whether or not exercise of coupon discretion is required" after that assessment. It notes that the bond terms let it exercise coupon discretion, and that bondholders have been asking about the payment.
• Indian Overseas Bank: the RBI's 2026 supervisory inspection found risk weights not applied correctly on some syndicated ECB loans and undisbursed exposures. It assessed March 2026 risk-weighted assets at ₹2,05,323.69 crore against the bank's ₹1,97,931.60 crore, and total capital adequacy at 19.06% against the 19.78% the bank had reported.
• Tata Chemicals: the High Court of Kenya held on 23 October that it has no jurisdiction in the dispute between Tata Chemicals Magadi and Kenya's Mining Ministry. The subsidiary is examining the order, and a committee is doing a technical review for the Cabinet Secretary.
• Lupin: a USFDA inspection of its Goa plant (19–23 October) closed with a Form 483 carrying one observation.
• Sahajanand Medical Technologies received a GST summons from DGGI Mumbai, which its annexure links to reimbursements to foreign subsidiaries for clinical trials; it says there is no material financial impact at this stage.
• Coromandel International: a GST order confirmed a demand of ₹2,50,82,496 for alleged wrongful input-tax credit, with an equal penalty and interest; the company intends to appeal.
• Dindigul Farm Product: the special resolution to continue its 70-year-old chairman and MD, R. Rajasekaran, did not get the special majority but won a simple majority. The company has given notice that it will apply to the central government to keep him to 28 December 2028.
• Ratings: ICRA upgraded Wheels India to A+ (Stable)/A1 from A (Stable); Ind-Ra upgraded Sangam (India)'s bank loans to IND A/Stable from IND A-; Crisil moved Go Digit General Insurance's AA- to Rating Watch with Positive Implications from Developing; CareEdge Global revised Muthoot Microfin's BB- foreign-currency rating outlook to Positive.

Dates to note

• 27 October to 2 November: VRL Logistics' buyback tendering period (record date was 22 October).
• 1 January 2027: Anup Kumar Saha takes over as Kotak Mahindra Bank's MD and CEO, subject to shareholders.
• 31 December 2026: the date to which Reliance Communications (under CIRP) sought to extend its AGM.

What we're not reporting

The rest of the day was routine: newspaper copies of results, earnings-call notices and recordings, trading-window openings, board-meeting notices, ESOP allotments and small-company results.

Not read, so not reported:

• BSE documents not on disk (headlines only): Kobo Biotech filed an NCLT order; Deutsche Bank AG filed a takeover-code disclosure on ACC (the same filer as the Ambuja and Orient Cement disclosures above; its content is not confirmed); Umiya Holding filed a takeover-code disclosure; Quadrant Televentures filed outcomes of two committee-of-creditors meetings; Zicom filed a monitoring-committee report; Agribio Spirits filed the outcome of an NCLT-convened shareholder meeting; Prime Fresh filed a rating disclosure; company-secretary or director resignations at Golkonda Aluminium, DPL and SCC; and further copies of results and filings at Kotak, AU, IDFC First, Adani Enterprises, Kajaria and others already covered above.

Educational research, not investment advice. Every item is drawn from the company's own exchange filing, read from the primary document; derived figures are our arithmetic, labelled as such. No buy/sell recommendations, no price targets, no share prices. Moat & Margin is not a SEBI-registered Research Analyst or Investment Adviser.