Firstsource Solutions has strategically invested in AppliedAI, an Al workflow automation platform, to advance next-generation enterprise automation. This move reinforces Firstsource’s UnBPO strategy, aiming to build technology-driven, compliant, and outcome-oriented operations. The integration of AppliedAI’s capabilities will help clients automate workflows, improve accuracy and speed, and unlock measurable outcomes across various industries, enhancing Firstsource’s service offerings.

Strategic Investment in AppliedAI

Firstsource Solutions Limited has announced a strategic investment in AppliedAI, an Al workflow automation platform. This partnership aims to power next-generation enterprise automation, enhancing Firstsource’s capabilities in delivering technology-first, compliant, and outcome-driven operations. The announcement was made on November 11, 2025.

Enhancing Enterprise Automation

The investment will enable Firstsource to integrate AppliedAI’s agentic automation and human-in-the-loop capabilities into its core operations. This integration aims to help clients automate mission-critical workflows, improve accuracy and speed, and unlock measurable business outcomes across various sectors, including healthcare, financial services, insurance, and government.

UnBPO Strategy and Future Outlook

This move reinforces Firstsource’s UnBPO strategy, focusing on moving beyond traditional outsourcing to build more technologically advanced and compliant operations. By embedding AppliedAI’s capabilities, Firstsource aims to provide clients with access to a richer network of domain experts and scalable Al solutions, facilitating a confident transition to intelligent automation. The partnership brings together technology and human insight to redefine how enterprises operate, focusing on speed, smart solutions, and trust.

Source: BSE

BLS International reported a 48.8% year-over-year increase in consolidated revenue, reaching ₹736.6 Crores. Operating EBITDA grew by 29.7% to ₹212.8 Crores, with EBITDA margins at 28.9%. The company won a major UIDAI contract worth ₹2,055.35 Crores and entered the hospitality sector with the acquisition of Trefeddian Hotel in the UK for ₹78.3 Crores. Net cash balance stands at ₹1,306 Crores.

Financial Performance Highlights

BLS International Services Ltd. announced robust financial results, marked by significant revenue and profit growth. Key highlights include:

• Revenue Growth: Consolidated Revenue increased by 48.8% year-over-year, reaching ₹736.6 Crores.
• EBITDA Growth: Operating EBITDA grew by 29.7% to ₹212.8 Crores.
• EBITDA Margin: Maintained a healthy EBITDA margin of 28.9%.

Key Business Developments

Several strategic initiatives and contract wins contributed to the company’s strong performance:

• UIDAI Contract: Secured a significant contract from the Unique Identification Authority of India (UIDAI) to establish and operate District-Level Aadhaar Seva Kendras, valued at ₹2,055.35 Crores, to be executed over six years.
• MEA Contract: Awarded a three-year contract by the Ministry of External Affairs, Government of India, to establish and operate Indian Visa Application Centres across China.
• Hospitality Sector Entry: Acquired 100% shareholding in Trefeddian Hotel (Aberdovey) Limited in the United Kingdom for a total consideration of ₹78.3 Crores, marking its strategic entry into the hospitality sector.
• Cash Flow: The company continues to generate strong cash flows, with a strengthened balance sheet and a net cash balance of ₹1,306 Crores as of September 30, 2025.

Q2FY26 Consolidated Performance

A comparison of Q2FY26 against Q2FY25 reveals the following:

• Revenue from Operations: Increased by 48.8%, from ₹495.0 Crores to ₹736.6 Crores.
• EBITDA: Increased by 29.7%, from ₹164.0 Crores to ₹212.8 Crores.
• PAT: Increased by 27.4%, from ₹145.7 Crores to ₹185.7 Crores.

H1FY26 Consolidated Performance

A comparison of H1FY26 against H1FY25 reveals the following:

• Revenue from Operations: Increased by 46.5%, from ₹987.7 Crores to ₹1,447.2 Crores.
• EBITDA: Increased by 40.3%, from ₹297.2 Crores to ₹417.0 Crores.
• PAT: Increased by 37.6%, from ₹266.5 Crores to ₹366.7 Crores.

Segment Highlights

The company’s performance is broken down by Visa & Consular Services and Digital Services:

Visa & Consular Services

• Q2FY26: Revenue from Operations increased by 9.8%.
• H1FY26: Revenue from Operations increased by 10.5%.

Digital Services

• Q2FY26: Revenue from Operations increased significantly by 259.3%.
• H1FY26: Revenue from Operations increased significantly by 238.6%.

Source: BSE

Balrampur Chini Mills Limited announced its Q2 & FY26 results presentation. The company reported healthy performance with improved volumes and realizations in sugar and distillery divisions. The Board of Directors has announced an interim dividend of Rs. 3.50 (350%) per Equity share. The company is progressing well on its Polylactic Acid (PLA) project, with ~Rs. 1093 crores already spent.

Financial Highlights

Balrampur Chini Mills Limited reported improved performance in a seasonally weak quarter, driven by increased volumes and realizations in both its sugar and distillery segments. Profitability was also positively impacted by a revision in power tariffs effective April 1, 2024.

Sugar Segment Performance

The company saw a 14.97% increase in sugar sales volume in Q2 FY26. Average sugar realization increased by 5.16% compared to Q2 FY25. As of September 30, 2025, sugar inventory stood at 18.10 lac quintals, valued at Rs. 36.27/kg.

Distillery Segment Performance

The distillery segment also showed positive momentum, with increased sales and improved blended realizations. The average blended realization for ENA (Extra Neutral Alcohol) and other products reached Rs. 61.28/BL during Q2 FY26.

PLA Project Update

Balrampur Chini is making headway with its Polylactic Acid (PLA) project. As of October 31, 2025, approximately Rs. 1093 crores has been invested in the project. Construction activities are ongoing, and the company has initiated market development through the trading of imported PLA. The project commissioning is expected in Q3 FY27 with a capacity of 80,000 TPA.

Dividend Announcement

The Board of Directors has declared an interim dividend of Rs. 3.50 (350%) per equity share. This dividend will result in an outflow of approximately Rs. 70.7 crores.

Key Operational Numbers

Sugarcane Crushed: 1033.99 lac quintals for FY25. Net Sugar Recovery was 11.38% in H1 FY26. The sugar recovery pre-sacrifice for FY25 stood at 11.32% and sugar production for the same period was 97.07 lac quintals. Ethanol production and sales volume saw similar uptrends year-on-year.

Auxilo Finserve Update

As of September 30, 2025, the Net-worth of Auxilo stands at approximately Rs. 1454.13 Crores. Total income was Rs. 177.77 crs, total expense stood at Rs. 137.71 crs and CRAR was reported as 30.04%

Future Outlook

The company highlighted the potential for a revision in the Minimum Selling Price (MSP) of sugar and ethanol prices as key events to watch out for, both being vital to sustain the sector’s financial health.

Source: BSE

Godrej Industries Limited has announced its consolidated financial results for Q2 and H1 FY26. Q2 FY26 total income reached ₹6,290 crore, a 23% increase year-over-year. H1 FY26 total income stood at ₹12,009 crore, reflecting a 16% growth. The results showcase growth across key business segments, bolstering the company’s financial performance and market position.

Financial Performance

Godrej Industries Limited reported strong consolidated financial results for both the second quarter (Q2) and the first half (H1) of fiscal year 2026.

Here’s a summary of the key consolidated figures:

Total Income:

Q2 FY26: ₹6,290 crore, a 23% increase compared to ₹5,118 crore in Q2 FY25.

H1 FY26: ₹12,009 crore, a 16% increase from ₹10,378 crore in H1 FY25.

PBDIT:

Q2 FY26: ₹1,428 crore, up by 41%.

H1 FY26: ₹3,176 crore, reflecting a 31% increase.

PBIT:

Q2 FY26: ₹1,307 crore, a 44% increase.

H1 FY26: ₹2,942 crore, up by 33%.

Net Profit:

Q2 FY26: ₹242 crore.

H1 FY26: ₹592 crore.

Segmental Performance in Q2 FY26

Here’s a snapshot of revenue contribution by segment:

Chemicals: ₹1,059 crore

Dairy: ₹220 crore

Veg Oils: ₹776 crore

Animal Feed: ₹1,217 crore

Estate & Property Development: ₹1,950 crore

GCPL (Consumer Products)

In Q2 FY26, Godrej Consumer Products Limited (GCPL) reported consolidated sales growth of 4% in INR and constant currency terms year-on-year, backed by a volume growth of 3%. However, consolidated net profit decreased by 2% year-on-year due to temporary headwinds.

Godrej Properties (GPL)

Godrej Properties Limited (GPL) showed significant growth in Q2 FY26, with booking value increasing by 64% year-over-year and 20% quarter-over-quarter, reaching ₹8,505 crore. This achievement was supported by the sale of 4,522 homes covering a total area of 7.14 million sq. ft.

Godrej Agrovet (GAVL)

Godrej Agrovet Limited (GAVL) reported that its Animal Feed segment delivered record quarterly volumes, driven by increased market share in the cattle feed category. Segment revenue remained stable, with volume growth offset by lower average realizations due to commodity price softening.

Source: BSE

Bharat Forge has released the Monitoring Agency report for the quarter ended September 30, 2025. ICRA Limited, the monitoring agency, confirmed that the utilization of the issuance proceeds is in line with the objects of the issue. The report provides an overview of fund allocation and utilization, confirming no material deviations. The QIP issue size was INR 1,650.000 Crore.

Q2 Fund Utilization Overview

The Monitoring Agency, ICRA Limited, has issued a report stating that the fund utilization for the quarter ended September 30, 2025, is in line with the intended objectives. The report, dated November 11, 2025, provides details on the allocation and usage of proceeds from the Qualified Institutional Placement (QIP).

Key Highlights from the Report

The original issue size was INR 1,650.000 Crore. Actual net proceeds totaled INR 1,621.868 Crore. No material deviations were observed in the utilization of funds. The report confirms that all utilization adheres to the disclosures made in the offer document. Government and statutory approvals have been duly obtained for the objects.

Details of Object Monitoring

The report includes monitoring of specific objects, including:

• Repayment/prepayment of outstanding borrowings: A revised cost of INR 1,029.604 Crore was utilized.
• Proposed acquisition of equity shares in AAM India Manufacturing Corporation: INR 550.039 Crore was utilized.
• General corporate purposes: A total of INR 42.225 Crore was allocated.

General Corporate Purpose Breakdown

The allocation for General Corporate Purposes (GCP) includes:

• Payment of advance tax: INR 34.320 Crore
• Purchase of goods: INR 7.900 Crore
• Miscellaneous expenses: INR 0.005 Crore

Source: BSE

BLS International reported its highest-ever quarterly performance with consolidated revenue at Rs. 736.6 Crores in Q2FY26, a 48.8% YoY increase. EBITDA surged 29.7% YoY to Rs. 212.8 Crores, and net profit reached Rs. 185.7 Crores, up 27.4% YoY. The company secured new government contracts and expanded its global footprint.

Exceptional Financial Results

BLS International Services Limited announced its financial results for Q2 FY26, marking a period of significant growth. Key highlights include:

• Consolidated Revenue: Rs. 736.6 Crores, up 48.8% YoY.
• EBITDA: Rs. 212.8 Crores, a 29.7% YoY increase.
• Net Profit: Rs. 185.7 Crores, reflecting a 27.4% YoY growth.

Strategic Wins and Expansion

The company has expanded its global presence with strategic initiatives and contract wins:

• Awarded a three-year contract by the Ministry of External Affairs, Government of India, to establish and operate Indian Visa Application Centres across China.
• Won Cyprus Visa processing operations in Kazakhstan.
• Inaugurated a new Visa Application Centre in Argentina and transitioned to a self-managed model in Bolivia.
• Secured a contract worth approximately Rs. 2,055.35 Crores from the Unique Identification Authority of India (UIDAI).
• Diversified business portfolio by acquiring the Trefeddian Hotel in the United Kingdom for Rs 78.3 Crores.

Segment Performance

A breakdown of the company’s revenue by segment:

• Visa & Consular Business: Revenue grew by 9.8% YoY, contributing approximately 62% of total revenue. EBITDA increased by 26.4% YoY.
• Digital Business: Revenue increased by 259.3% YoY, contributing approximately 38% of total revenue.

H1FY26 Highlights

Performance highlights for the first half of fiscal year 2026 include:

• Revenue from Operations: Grew by 46.5% to Rs. 1,447.2 Crores.
• EBITDA: Surged by 40.3% to Rs. 417.0 Crores.
• PAT: Stood at Rs. 366.7 Crores, a growth of 37.6%.

Source: BSE

Sun Pharma announced its Q2 FY26 results, showcasing an 8.6% sales growth, reaching INR144,052 million. The company’s EBITDA increased by 14.9% to INR45,271 million, with a margin of 31.3%. Global Innovative Medicines sales rose by 16.4% to USD313 million. The company continues to invest in R&D, with a focus on innovative medicines and expansion in key markets.

Financial Performance Overview

Sun Pharmaceutical Industries Limited reported strong financial results for Q2 FY26. Key highlights include:

• Sales: INR144,052 million, an increase of 8.6% compared to Q2 FY25.
• Gross Margin: 79.3% for the quarter.
• EBITDA: INR45,271 million, up by 14.9% year-over-year.
• EBITDA Margin: 31.3%.
• Net Profit After Tax: INR31,180 million, a 2.6% increase.
• EPS: INR13 per share.

For the first half of the fiscal year, sales reached INR2,81,913 million, representing a 9.3% growth. The EBITDA for the first half was INR88,287 million, a 17% increase.

Global Innovative Medicines

Global Innovative Medicines sales increased by 16.4% to USD313 million. U.S. sales of Innovative Medicines surpassed generics for the first time this quarter.

ILUMYA, a key brand, is now available in 35 markets.

India Business

Formulation sales in India were INR47,348 million, representing an 11% growth. India’s Formulation sales accounted for 32.9% of total consolidated sales for the quarter. Sun Pharma holds 8.3% market share in the Indian pharmaceutical market.

U.S. Business

The overall U.S. business declined by 4.1% to $496 million for the quarter. This decline was partially offset by growth in Innovative Medicines.

R&D Investments

Consolidated investments in R&D for Q2 FY26 were INR7,827 million, or 5.4% of sales. Innovative R&D accounted for 38% of the total R&D spend.

The company awaits FDA decision on UNLOXCYT updated labeling and remains on track to launch UNLOXCYT in the U.S. in the second half of FY ’26. Plans are underway to file ILUMYA psoriatic arthritis sBLA during the second half of FY ’26.

Source: BSE

Jupiter Wagons reported strong Q2 FY26 results with revenue up 71% QoQ to ₹786 Crore, driven by improved wheelset supply. EBITDA increased by 73% QoQ to ₹104 Crore. The company’s other business verticals are scaling up performance, and Jupiter Electric Mobility (JEM) is gaining momentum with its battery energy storage solutions. The railwheel factory also secured significant orders.

Financial Performance

In Q2 FY26, Jupiter Wagons’ revenue from operations reached ₹786 Crore, a substantial 71% increase compared to the previous quarter. This growth was primarily fueled by an improved supply of wheelsets for its wagons business. The company’s EBITDA for Q2 FY26 stood at ₹104 Crore, marking a 73% rise QoQ. The EBITDA margin was 13.2%. The company reported a PAT of ₹45 Crore, with a PAT Margin of 5.8%. EPS for Q2 FY26 is ₹1.10 per share.

H1 FY26 Highlights

For the first half of fiscal year 2026, Jupiter Wagons reported revenue from operations of ₹1,245 Crore. EBITDA for H1 FY26 was ₹163 Crore. The EBITDA Margin was 13.1%. PAT for H1 FY26 reached ₹76 Crore, with a PAT Margin of 6.1%. EPS for H1 FY26 is ₹1.87 per share.

Operational Developments

Jupiter Electric Mobility (JEM) introduced 10 ft and 20 ft containerized Battery Energy Storage Systems (BESS). The company delivered its first 10 ft BESS unit to Greenlit and is preparing for its first 20 ft unit export. Six new JEM Dealerships were opened in Hyderabad, Delhi, Ghaziabad, Pune, Ahmedabad and Trivandrum. Jupiter Tatravagonka Railwheel Factory received an order from the Ministry of Railways for 9,000 LHB axles and a Letter of Intent for 5,376 wheelsets for the Vande Bharat project. The company’s forged axle and wheel facility in Odisha is progressing rapidly.

Order Book

The order book stands at ₹5,538 Crore as of September 30, 2025.

Source: BSE