Daily Filing Digest — Monday, 26 Oct 2026

Paytm put a number on what UPI merchant fees could add: about 2.5 basis points on its payments margin, which it says is already above 4 basis points. Its revenue rose 28% and profit was ₹225 crore. Tata Consumer's revenue rose 14% on 11% volume growth in its India branded business. Two public sector banks grew profit fast: Indian Overseas Bank by 55.95% and Bank of Maharashtra by 41.42%, though Bank of Maharashtra's share of cheap deposits fell. Dalmia Bharat swung to a ₹205 crore loss after ₹339 crore of exceptional items. In the fine print: KFin Technologies provided for claims by a former client over shares moved out of its escrow account, and Ishan Dyes' auditor qualified its review over overvalued inventory.

The ones to read first

• Paytm (One 97 Communications) reported revenue of ₹2,648 crore, up 28%, EBITDA of ₹270 crore, up 90%, and profit after tax of ₹225 crore. The results statement gives profit of ₹21 crore a year earlier, after exceptional items of ₹190 crore then.
  • On UPI fees: its payments processing margin is "comfortably above 4 bps", and on NPCI's proposed 0.4% fee on select payments above ₹2,000 it expects "an indicative uplift of approximately 2.5 bps", which it says may take two to three quarters to settle. NPCI says the fee starts after Diwali on a date to be notified.
  • It says the cost of default loss guarantees on loans it distributes "will increase materially from Q3 FY 2027", as it has resumed them with its largest lending partner.
  • The board approved up to ₹500 crore more for Paytm Cloud Technologies, which in turn may put up to ₹500 crore into Paytm Singapore, over twelve months.
  • The auditors draw attention to the Enforcement Directorate's show cause notice of February 2025 alleging FEMA contraventions of about ₹611 crore in all, involving Paytm and two subsidiaries; their conclusion is not modified. Full read: Paytm puts a number on UPI fees.
• Tata Consumer Products reported consolidated revenue of ₹5,661 crore, up 14%, EBITDA of ₹794 crore, up 18%, and group net profit of ₹470 crore, up 16%. Its India branded business recorded underlying volume growth of 11%, led by salt; India tea volumes were flat. Its "growth businesses" grew 40% to 38% of the India business, and Tata Sampann grew 57%. Standalone profit fell to ₹243 crore after a ₹64 crore exceptional charge, mainly a ₹57 crore fair-value loss on an instrument held in an associate (results).
• Indian Overseas Bank reported net profit of ₹1,912 crore, up 55.95%. Net interest income rose 26.41% to ₹3,867 crore, and the domestic margin was 3.49%. Advances grew 24.35% and deposits 20.16%. Gross bad loans were 1.19% and the capital ratio 18.60%.
• Bank of Maharashtra reported net profit of ₹2,310 crore, up 41.42%, and a domestic margin of 3.97%. Gross advances grew 29.61% and deposits 21.27%; current and savings deposits grew 11.92%, and their domestic share fell to 46.47% from 50.35%. Gross bad loans were 1.25%. Its results show ₹250 crore of COVID-19 contingency provisions reversed in the quarter, with ₹510 crore still held.
• Dalmia Bharat reported a consolidated loss of ₹205 crore against a profit of ₹239 crore. Revenue rose 4% to ₹3,563 crore on 3% higher volumes, but EBITDA fell 29% to ₹493 crore and EBITDA per tonne to ₹698 from ₹1,013. Exceptional items of ₹339 crore include a ₹282 crore impairment of three captive power plants and a brand, and ₹57 crore for an employee separation scheme. Net debt rose to 2.0 times EBITDA from 0.6. A trial run started at its 3.6 MnTPA Belgaum clinker line.

The fine print

• KFin Technologies: the auditors draw attention to a matter at a former client for which it acted as registrar until April 2021. The client's IPO escrow shares were held with a depository participant, and 1,294,489 of them were moved by that participant, in 2011 and 2020, to its own account and a third party's without the client's authority. KFin returned the shares without admitting fault and has now provided ₹9.30 crore (INR 93.02 million) for potential claims, including dividends; it intends to pursue the parties involved, including some minority shareholders. The conclusion is not modified. Its quarter: revenue ₹401.8 crore, up 29.9%, and profit ₹100.3 crore, up 7.5% (converted from ₹ million).
• Ishan Dyes & Chemicals: the auditor's review is qualified because finished goods held against customer contracts are valued above cost. The overstatement has grown to ₹8.99 crore from ₹2.85 crore at 31 March; profit before tax for the period would have been ₹6.15 crore lower (converted from lakh). The matter was also qualified in the annual audit and the June review.
• Five Star Business Finance reported profit of ₹299 crore, up 5%, and disbursements up 74%, but gross stage 3 (bad) loans rose to 3.48% from 2.64% a year ago, and return on equity fell to 15.25% from 16.91%.
• Ather Energy: the monitoring agency reports that production at Factory 3.0, funded from the IPO, is now expected in December 2026, against October earlier and July originally. It cites labour and fuel shortages, on site and at suppliers, caused by the Middle East crisis. 47% of the project cost has been spent and orders placed for 87%.
• IRCON: the Uttarakhand High Court told the GST department to file its reply within four weeks, and not to pass an order before the next hearing, on a notice over ₹72.41 crore of input credit on subcontractors' invoices.
• Ashima: the Debt Recovery Appellate Tribunal accepted consent terms settling cases with HDFC Bank and Bank of Bahrain and Kuwait; Ashima handed over ₹18.00 crore.
• Gayatri Projects says it has repaid all its fund-based borrowings from banks and financial institutions under agreed settlement terms. It gives no amount.

Banks and lenders

• IDBI Bank: ICRA placed its long-term ratings on watch with developing implications, citing Fairfax's proposed purchase of 60.72%; CRISIL placed its long-term debt on watch with positive implications.
• Tamilnad Mercantile Bank reported net profit of ₹451 crore against ₹318 crore, up 42.09%. Gross bad loans fell to 0.61% from 1.01%.
• Dhanlaxmi Bank reported net profit of ₹48.55 crore against ₹23.20 crore (converted from lakh), with gross bad loans of 1.76% against 3.10%.
• CreditAccess Grameen's call transcript: quarterly profit of ₹502 crore, gross NPA 1.79% and PAR 90+ at 1.11%. It raised its FY27 guidance for return on assets to 5.2%–5.8% from 4%–4.8%, kept credit-cost guidance at 3%–4%, and says it sees "a few signs of drought-related challenges" in parts of Maharashtra.
• Aavas Financiers reported half-year profit of ₹352.8 crore, up 16.4%, assets under management of ₹24,800 crore, up 16.1%, and gross NPA of 1.11% (converted from ₹ billion).
• REC declared a second interim dividend of ₹3.50 a share.

Results and updates

• Supreme Industries reported standalone total income of ₹3,416.26 crore, up 39.28%, on volumes up 19.44%, and profit of ₹279.25 crore, up 44.47%. Value-added products sold rose 38% to ₹1,476 crore. Interim dividend ₹12 a share, record date 30 October; net cash ₹685 crore.
• Sona Comstar (Sona BLW) reported revenue of ₹1,547 crore, up 35%, EBITDA of ₹356 crore at a 23.0% margin, and profit of ₹223 crore. Battery-electric vehicles were 51% of automotive revenue. It won ₹3,600 crore of new orders (Rs 36 billion), taking its net order book to ₹25,100 crore (converted from ₹ billion).
• ITC Hotels reported consolidated revenue of ₹1,054 crore, up 26%, EBITDA of ₹337 crore, up 37%, and profit of ₹203 crore, up 52%. It completed the purchase of the 130-key Welcomhotel Ahmedabad and signed 20 hotels in the half year.
• Westlife Foodworld (McDonald's in the west and south)'s call transcript: revenue of ₹747 crore (INR 7.47 billion), up 16%, same-store sales up 10.1%, and operating EBITDA up 29% at a 13.1% margin, "despite absorbing over 190 basis points of inflationary pressure".
• Vishal Mega Mart's call transcript: revenue of ₹3,399 crore, up 14%, same-store sales up 5.4% (about 9% adjusting for festivals moving into Q3, it says), and profit adjusted for ESOP charges of ₹172 crore, up 6.4%.
• WeWork India reported revenue of ₹768.7 crore, up 31.6%, and profit of ₹65.8 crore, up 67.4%. It moved to net cash of ₹23.1 crore from net debt of ₹310.5 crore a year ago. Companies' captive centres (GCCs) are 40.8% of core revenue.
• HFCL's call transcript: consolidated revenue of ₹2,541.79 crore, up about 143.62%, and profit of ₹394.22 crore against ₹71.92 crore. Order book ₹28,900 crore.
• Nazara Technologies reported revenue of ₹803 crore, up 53%, and profit from continuing operations of ₹35 crore against a loss of ₹34 crore.
• Sobha's call transcript: half-year sales of ₹5,862 crore, up 47.2%, positive operating cash flow of ₹755 crore and net cash of about ₹322 crore.
• Ather Energy reported total income of ₹1,527 crore, up 62%, and an EBITDA margin of 4.9%, its second positive quarter. The board approved about ₹122 crore to lift Hosur's capacity to 495,000 units a year and Factory 3.0's planned capacity to 650,000.

Deals and capital

• Persistent Systems allotted 7,683,981 shares to institutions at ₹5,550 each, a 3.66% discount to the floor price, raising INR 42,646.09 million, about ₹4,264.6 crore (our arithmetic).
• Sun Pharma allotted ₹7,816 crore of unsecured debentures at 8.05% and 8.20%; the ₹7,000 crore base issue was fully subscribed. CRISIL and ICRA rated the programme, linked to the Organon purchase, on 13 October.
• Poonawalla Fincorp approved up to ₹2,000 crore of secured debentures by private placement.
• Genus Power approved a buyback of up to 47,50,000 shares at ₹312, up to ₹148.20 crore, by tender. VRL Logistics' buyback of up to 87,50,000 shares at ₹320 opened.
• TSF Investments will sell its entire 3.74% stake in TVS Holdings to members of TVS Holdings' promoter group, by 2 November.
• 3M India agreed changes to its distribution agreements with Solventum after products were divested, and will receive one-time compensation of US$13 million from Thermo Fisher Scientific.
• Tata Communications plans about 6 Pbps of additional network capacity over FY2030–FY2036, with ₹4,350 crore of capital spending.
• Raymond Realty: a subsidiary secured ₹210 crore from an ICICI Prudential real estate fund for a redevelopment project. Neueon Corporation sold land in Telangana to Aparna Enterprises for ₹90.73 crore.
• Varroc Engineering signed agreements to buy 45% of Forsee Power India for up to €4.5 million. HCLTech completed its purchase of Croatia's Robotic Process Automation d.o.o.
• Biocon signed a licence with Janssen to sell Yesintek, its biosimilar of Stelara, in Australia, Brazil, China and six other markets.

Orders

• Sigma Advanced Systems won an order of US$102.23 million (about ₹973 crore) to supply base bleed units for 155 mm artillery ammunition to a NATO customer over 12 months.
• Bajel Projects won a ₹1,500 crore order, including GST, for 270 km of 765 kV transmission lines from Halvad to Vadodara and substation works, over 36 months.
• Jyoti Structures won two Power Grid packages worth ₹949.35 crore, excluding GST, for ±800 kV HVDC lines in Rajasthan.
• CG Power's subsidiary GG Tronics received RDSO approval for Kavach 4.0, which it needs to execute its ₹433 crore Kavach order.
• SRM Contractors won a ₹138.37 crore contract from the road ministry for landslide treatment on NH-09 in Uttarakhand; Highway Infrastructure a ₹91.78 crore one-year toll collection contract from NHAI.
• L&T Technology Services signed a five-year contract with Nokia for engineering and R&D; Unimech Aerospace's subsidiary a long-term agreement with Honeywell Aerospace. Neither gives a value.
• E2E Networks proposes adding about 5.4 MW of NVIDIA Blackwell GPU capacity to its existing ~9.2 MW.

What we're not reporting

• The rest of NSE's day: earnings-call notices and recordings, newspaper copies of results, depository certificates, security-cover certificates, ESOP allotments, debt-listed issuers' half-year results (SIDBI, THDC India, Bajaj Auto Credit, Cholamandalam Securities), small-company results, and routine changes of directors, company secretaries and internal auditors.
• BSE-only filings we did not open (downloads paused; 818 rows), by headline: Leading Leasing Finance's statutory auditor resigned (no name or reason in the headline); orders at 3C IT Solutions (₹9.08 crore of HP desktops) and Cosmic CRF; CFO resignations at Shivchem Agro, Suncity Synthetics and Bajaj Global; Starlite Components' record date for a capital reduction under an NCLT order; and many results-meeting notices.

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