Let’s decode the quarterly performance of IDFC First Bank, Mangalore Refinery (MRPL), SBFC Finance, India Cements, and Avantel as they head into FY26.

🏦 IDFC First Bank

⭐ Rating: ⭐⭐ (2/5) — Profit Hit Despite Asset Quality Improvement

• Net Profit: ₹304 crore (▼58% YoY)
• Dividend Proposed: ₹0.25/share

✅ What’s Working:

• Net NPA improved to 0.53% (▼7bps YoY).
• Gross NPA improved to 1.87% (▼1bps YoY).

❌ What’s Not:

• Sharp fall in net profit due to elevated provisions.
• NIM pressure due to interest reversals.

🔮 Outlook:
Management focus on asset quality stabilization; profitability recovery will be key in FY26.

🛢️ Mangalore Refinery (MRPL)

⭐ Rating: ⭐ (1/5) — Severe Profit and Margin Erosion

• Net Profit: ₹363 crore (▼68% YoY)
• Revenue: ₹24,596 crore (▼2.9% YoY)
• EBITDA: ₹1,130 crore (▼51.7% YoY)

✅ What’s Working:

• Maintained revenue stability despite sector headwinds.

❌ What’s Not:

• Margins collapsed from 9.2% to 4.6%.
• Heavy stock correction (▼45% YoY).

🔮 Outlook:
Challenging environment continues; recovery linked to refining margins and demand revival.

💸 SBFC Finance

⭐ Rating: ⭐⭐⭐⭐ (4/5) — Strong Growth Story Continues

• Net Profit: ₹93.94 crore (▲28% YoY)
• Sales: ₹359.36 crore (▲30% YoY)
• FY25 Full-Year Net Profit: ₹345.30 crore (▲46% YoY)

✅ What’s Working:

• Consistent strong growth in both revenue and profit.
• Healthy operational efficiency (OPM maintained at ~69%).

❌ What’s Not:

• Margin stability to be monitored under rising cost pressures.

🔮 Outlook:
Robust expansion expected across secured MSME loans and retail finance segments.

🏗️ India Cements (Now part of UltraTech Group)

⭐ Rating: ⭐⭐ (2/5) — Narrowing Losses, Revenue Pressure

• Net Profit: ₹14.68 crore (vs ₹60.5 crore loss YoY)
• Revenue: ₹1,197 crore (▼3.11% YoY)

✅ What’s Working:

• Returned to profitability after losses.
• Amalgamation of subsidiaries planned for efficiency.

❌ What’s Not:

• Revenue decline and weak demand.
• Pricing pressure in cement sector persists.

🔮 Outlook:
UltraTech’s backing strengthens prospects but weak demand/pricing environment remains a risk in FY26.

🛰️ Avantel Ltd

⭐ Rating: ⭐⭐⭐⭐ (4/5) — Consistent Revenue and Profit Growth

• Revenue: ₹248.48 crore (▲10.97% YoY)
• EBITDA: ₹97.14 crore (▲13.34% YoY)
• Net Profit: ₹4.46 crore (▲8% YoY)
• Dividend Proposed: ₹0.20/share + ₹81 Cr rights issue

✅ What’s Working:

• Strong execution in defense tech and SATCOM.
• Rights issue to fund new facility expansion.

❌ What’s Not:

• Stock under pressure (▼36% YoY).

🔮 Outlook:
Focus on defense communication growth; strategic capex to drive future scalability and market positioning.

Final Thoughts

Q4FY25 highlights a divergence in performance across sectors:

• SBFC Finance and Avantel delivered strong growth and strategic moves for the future.
• IDFC First Bank and India Cements stabilized but need profitability and volume boosts.
• MRPL remains challenged by severe margin pressures.