Aavas Financiers has announced the grant of stock options under its Equity Stock Option Plans (ESOP) and Performance Stock Option Plans (PSOP). The Nomination and Remuneration Committee approved the grants on November 11, 2025. A total of 3,01,230 options were granted under ESOP-2022, 10,000 under PSOP-2024, and 14,22,470 under ESOP-2025, to eligible employees.

Stock Option Grants Approved

Aavas Financiers has approved the grant of stock options under its existing Equity Stock Option Plan (ESOP) and Performance Stock Option Plan (PSOP) schemes. The decision was made by the Nomination and Remuneration Committee during its meeting held on November 11, 2025.

Details of Option Grants

The grants are distributed across three different schemes:

• Equity Stock Option Plan – 2022 (“ESOP-2022”): 3,01,230 options
• Performance Stock Option Plan – 2024 (“PSOP-2024”): 10,000 options
• Equity Stock Option Plan – 2025 (“ESOP-2025”): 14,22,470 options

Vesting Schedules

The vesting schedules vary depending on the specific plan:

ESOP 2022:

20% of options vest on each anniversary from the first to the fifth anniversary of the grant date.

PSOP 2024:

25% of options vest on each anniversary from the first to the fourth anniversary of the grant date.

ESOP 2025:

20% of options vest on each anniversary from the first to the fifth anniversary of the grant date.

Source: BSE

Alembic Pharmaceuticals reported a 16% year-on-year revenue growth in Q2 FY26, reaching INR 1,910 crores. Growth was driven by higher volumes and new product launches. EBITDA before R&D expenses stood at INR 503 crores, representing a 26% margin. The company completed the acquisition of Utility Therapeutics, marking its entry into the US branded drugs market. They maintain focus on complex injectables and plan to launch 4-5 products in Q3 and Q4.

Financial Performance

Alembic Pharmaceuticals announced strong financial results for Q2 FY26:

• Revenue grew by 16% year-on-year to INR 1,910 crores.
• EBITDA before R&D expenses was INR 503 crores, with a 26% EBITDA margin.
• Gross margin was 73% for the quarter.
• R&D expenses increased by 41% year-on-year to INR 187 crores.
• Profit before tax grew by 34% year-on-year to INR 225 crores.

Segmental Performance

Key highlights from different segments include:

• India Branded Business delivered revenue of INR 639 crores, a 5% year-on-year growth.
• International Business saw a 31% growth in rest of world markets.
• US business grew by 21%.
• API business grew by 15%.

Strategic Initiatives

Alembic is actively pursuing several strategic initiatives to drive future growth:

• Completed the acquisition of Utility Therapeutics for entry into the US branded drugs market with Pivya.
• Filed 2 ANDAs during the quarter, with cumulative filings at 269.
• Received 6 approvals and 1 tentative approval.
• Launched 3 products in the US.

Future Outlook

The company expects to launch 4-5 products in both Q3 and Q4 of this financial year. R&D investment remains a priority, with a focus on complex injectables and high-value areas. They aim to improve EBITDA margins to 18%-19% in the next year and to 20% in the coming years with better facility utilization and sector growth.

Utility Therapeutics and Pivya Launch

Alembic’s acquisition of Utility Therapeutics marks its entry into the branded segment in the US, initially focusing on women’s health. The company plans a phased approach to build out a field force to promote Pivya, a product targeting urinary tract infections.

Azithral Sales

Azithral sales are stabilizing, with an expected upward trend. Animal health continues to outperform, and Gynecology is also performing well.

Source: BSE

Aadhar Housing Finance reported a strong Q2 FY’26, marked by 21% AUM growth reaching ₹27,554 crores. Disbursements rose by 16% Y-o-Y to ₹4,089 crores. Asset quality remained stable with gross NPAs at 1.42%. The company added 20 new branches, expanding its reach to 611 branches across 22 states, serving over 3.15 lakh customers. The company anticipates growth in the low-income housing segment, boosted by favorable policy reforms.

Strong Financial Performance

Aadhar Housing Finance announced its earnings for Q2 FY’26, reporting an AUM of ₹27,554 crores, representing a 21% year-over-year growth. The company’s disbursements reached ₹4,089 crores, a 16% Y-o-Y increase. The company has well-contained asset quality, reflected in gross NPAs at 1.42%.

Operational Expansion

During the quarter, Aadhar Housing Finance strategically added 20 new branches, which brings the total number of branches to 611 across 22 states and 549 districts. The company now serves over 3.15 lakh live customers.

Strategic Focus and Outlook

Aadhar Housing Finance is focusing on maintaining a healthy book and delivering consistent performance. The company’s cost-to-income ratio improved by 30 bps Y-o-Y. Balance transfer out for H1 FY ’26 stood at 5.4%. The affordable housing finance segment in the country is poised for significant growth in the coming quarters. PAT for H1 FY’26 was ₹504 crores, a growth of 18%, while Q2 FY’26 PAT was ₹266 crores, up 17%. The company delivered an overall PAT of Rs. 504 crores compared to Rs. 428 crores in H1 FY ’25.

Asset Quality and Borrowings

The company reported gross NPAs at 1.4% and NNPA at 1%. The Stage-II provision coverage ratio currently stands at 34.3%, with Stage-II dropping by approximately 20 bps sequentially. As of September 30, 2025, the company’s overall borrowings stood at ₹17,600 crores with 50% from banks.

Growth Drivers and Future Plans

The company emphasizes digital transformation to streamline processes, improve turnaround times, and enhance customer experience. Reduction in GST on inputs is expected to lower construction costs for developers, improving project viability and price affordability for homebuyers. The company is aiming for a further 10 bps improvement in overall cost of funds, potentially leading to a spread of around 5.8% by year-end.

Urban and Emerging Markets

Approximately 45% of Aadhar’s business currently comes from emerging markets, with a goal to reach a 50-50 model. The company plans to continue adding 50-55 branches, of which 15 will be in urban areas and 35 in emerging locations.

Source: BSE

Karur Vysya Bank (KVB) has broadened its CSR initiatives by supporting the Sneha Sandhya Age Care Foundation in Visakhapatnam. The bank’s contribution facilitated the construction and equipping of an inpatient wing dedicated to palliative and geriatric care services. This initiative aims to improve healthcare accessibility for the elderly and those with terminal illnesses. The new facility includes 16 inpatient rooms and serves as a center for treatment and training.

Supporting Palliative and Geriatric Care

Karur Vysya Bank (KVB) has amplified its Corporate Social Responsibility (CSR) efforts by offering support to the Sneha Sandhya Age Care Foundation, enhancing the palliative and geriatric care infrastructure in Visakhapatnam. The CSR contribution enabled the building and equipping of an inpatient wing, specifically Level-1, C-Block, within the Integrated Facility for Palliative and Geriatric Care Services.

Facility Enhancement and Services

The establishment, covering over 1.08 acres, improves the Foundation’s capabilities, turning it into a center for palliative and geriatric medicine. KVB’s CSR support has enabled the creation of 16 inpatient rooms and two nursing stations in Block-C, which will offer specialized services including Geriatric Care, Palliative Care for Adults & Children, Respite Care, Transitional Care, Rehabilitative Care, Dementia Residential Care, and End-of-Life Care. Dedicated units are available for both male and female patients.

KVB Aarogya Initiative

This initiative is a component of KVB Aarogya, the Bank’s flagship CSR program in healthcare. The focus is on improving access to quality medical facilities, supporting preventive health initiatives, and enhancing the well-being of underserved communities. The collaboration with Sneha Sandhya Age Care Foundation highlights KVB’s dedication to community development and healthcare accessibility, especially for the elderly and vulnerable.

Foundation’s Vision

Dr. N. S. Raju, Managing Trustee of Sneha Sandhya Age Care Foundation, emphasized that KVB’s support has been crucial in realizing their vision, enabling the facility to serve more patients, providing medical and emotional care during vulnerable moments. The facility will annually serve hundreds of patients and train medical and paramedical professionals in geriatric and palliative care.

Source: BSE

Karur Vysya Bank (KVB) has inaugurated a new branch in Kochadai Village, Madurai West, expanding its network to 48 branches in the city and 896 branches across India. The new branch will offer comprehensive banking services and cater to the needs of retail, institutional, and consumer lending. KVB’s total business reached Rs. 2,03,216 cr. as of September 30, 2025.

Branch Expansion in Madurai

Karur Vysya Bank (KVB) has expanded its presence with a new branch opening in Kochadai Village, Madurai West. This addition increases the bank’s total number of branches to 48 within Madurai and 896 branches nationwide. The inauguration ceremony took place on November 10, 2025.

Service Offerings

The new branch will provide a wide array of banking services, including accounts, deposits, and loans, catering to both basic banking needs and specific customer requirements. The branch aims to serve retail, institutional, and consumer lending segments.

Financial Performance

As of September 30, 2025, KVB reported a total business of Rs. 2,03,216 cr., with deposits at Rs. 1,10,492 cr. and advances at Rs. 92,724 cr. The bank’s net profit for Q2 FY26 reached Rs. 574 crores, and the Net NPA was recorded at 0.19%.

Source: BSE

Sarda Energy & Minerals Limited (SEML) reports robust consolidated financial results for Q2 and H1 FY26. Revenue reached ₹3,161 crore for H1 FY26, a 52% increase YoY. Profit After Tax for H1 FY26 surged to ₹764 crore, marking a 90% rise. The energy segment remains a key growth driver, contributing significantly to revenue and EBIT. Metals segment shows resilience with stable volume growth.

Financial Performance Highlights

Sarda Energy & Minerals Limited (SEML) announced its consolidated and standalone financial results for the Second Quarter (Q2) and Half Year (H1) ended September 30, 2025, showcasing significant year-over-year growth.

Key Growth Drivers

The energy segment continues to be a major contributor, generating ₹892 crore in Q2 FY26 and ₹1,832 crore in H1 FY26, accounting for 51% of consolidated revenue. It also delivered ₹331 crore (Q2 FY26) and ₹759 crore (H1 FY26) in EBIT, representing 70% and 72% of consolidated EBIT, respectively.

The metals segment demonstrated steady performance despite lower realizations, sustaining stable volume growth due to operational resilience.

Consolidated Financials

Key Figures (INR Cr)

*Cash Profit is calculated as Profit After Tax + Deferred tax + Depreciation

Standalone Financials

Key Figures (INR Cr)

*Cash Profit is calculated as Profit After Tax + Deferred tax + Depreciation

Production and Sales Performance

The company provided details regarding production and sales across various product segments.

Production (Consolidated)

Sales (Consolidated)

Source: BSE

Tube Investments of India Limited reported a revenue of ₹2,119 Crores for Q2 FY2026, compared to ₹2,065 Crores in the same period last year. Profit Before Tax (PBT) stood at ₹250 Crores, up from ₹225 Crores. Consolidated revenue reached ₹5,523 Crores, with a PBT of ₹459 Crores. The company anticipates significant growth in key segments, including mobility and medical, driven by market share gains and strategic initiatives.

Financial Performance

In Q2 FY2026, Tube Investments of India’s standalone revenue reached ₹2,119 Crores, marking an increase from ₹2,065 Crores in the corresponding period of the previous year. The company’s Profit Before Tax (PBT) increased to ₹250 Crores, compared to ₹225 Crores in the same quarter of the previous year, reflecting a growth of 11.5%. ROIC was at 44%.

The consolidated revenue stood at ₹5,523 Crores compared to ₹4,925 Crores. Profit before tax for the quarter was at ₹459 Crores as against ₹426 Crores in the corresponding quarter.

Segmental Performance

Engineering business revenue for the quarter reached ₹1,382 Crores, compared to ₹1,323 Crores in the corresponding quarter. PBIT was ₹164 Crores.

Metal formed products generated revenue of ₹408 Crores. PBIT was ₹44 Crores.

The mobility business, which includes bicycles, reported revenue of ₹194 Crores, compared to ₹168 Crores. PBIT stood at ₹4 Crores.

Other businesses generated revenue of ₹227 Crores, with PBIT at ₹18 Crores.

Key Growth Drivers & Future Outlook

The company witnessed a strong uptick in demand after changes in September 2025, coupled with the festive season. October and November have shown strong performance. The company is targeting a growth of 15% plus for the surgical business. They are also exploring new verticals for TI Medical.

For base business, the company is going to invest next year about ₹300 to 400 Crores. In mobility division, their focus was more towards the specialized bike and they are focusing on the fitness side of the business.

Source: BSE