Stocks to Watch: Jindal Steel, Adani Green Energy, Shree Cement, BEML and more

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Adani Total Gas | The company reported a net profit of ₹164 crore for the second quarter, down 11.9% from ₹186 crore in the same period last year. Revenue for the quarter rose 19.6% year-on-year to ₹1,576.4 crore from ₹1,318.5 crore in Q2 FY25, driven by higher volumes across its CNG and PNG segments. EBITDA for the quarter was ₹295.1 crore, a decline of 3.5% from ₹305.8 crore in the corresponding quarter last year. The company’s operating margin fell to 18.7% from 23.2% in Q2 FY25.

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Jindal Steel | The company reported second-quarter results largely in line with Street expectations. The company posted a consolidated net profit of ₹638 crore, marginally below the CNBC-TV18 poll estimate of ₹640 crore and down 25.9% year-on-year from ₹861 crore. Revenue from operations rose 4.2% to ₹11,685 crore, above the poll estimate of ₹11,154.6 crore, while EBITDA stood at ₹2,080.5 crore versus an estimate of ₹1,962 crore.

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Adani Green Energy | The company reported a 25% rise in second-quarter profit, driven by higher energy sales and improved operating efficiency, even as revenue remained largely steady. Consolidated net profit rose to ₹644 crore for the quarter ended Sept 30, from ₹515 crore a year earlier, the company said in an exchange filing. Revenue from operations was flat at ₹3,008 crore, compared with ₹3,005 crore a year ago. EBITDA climbed 17.4% to ₹2,603 crore, while margins widened to 86.5% from 73.8% a year earlier, supported by stronger output from hybrid, wind and solar projects.

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Shree Cement | Leading cement manufacturer reported a net profit of ₹277 crore for the second quarter, nearly three times the ₹93 crore posted in the same period last year. The figure, however, fell short of CNBC-TV18’s poll estimate of ₹349 crore. Revenue for the quarter stood at ₹4,303 crore, a growth of 15.5% from ₹3,727 crore in the corresponding quarter last year, and was marginally higher than the CNBC-TV18 poll estimate of ₹4,263 crore. The growth was driven by higher volumes, a focus on premiumisation, and the company’s continued emphasis on a value-over-volume strategy.

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ideaforge Technology | Mumbai-based drone technology company reported a 41.3% year-on-year rise in net profit to ₹19.5 crore for the second quarter of FY26, compared to ₹13.8 crore in the corresponding period last year. Revenue from operations grew 10% year-on-year to ₹40.8 crore, up from ₹37.1 crore in Q2 FY25. EBITDA, however, declined 28.9% to ₹11.3 crore from ₹15.9 crore a year earlier. The company reported that its gross margin stood at 50.0% in Q2 FY26, compared to 61.7% in the previous quarter.

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DCM Shriram | Diversified agri firm reported a 151% year-on-year (YoY) rise in consolidated net profit to ₹158 crore for the quarter ended September 30, 2025, compared to ₹63 crore in the same period last year. The company’s revenue from operations rose 10.6% YoY to ₹3,271 crore, up from ₹2,957 crore in Q2 FY25. Earnings before interest, tax, depreciation and amortisation (EBITDA) jumped 70.8% to ₹308 crore from ₹180.7 crore a year earlier, while operating margins improved to 9.4% from 6.1% in the corresponding quarter last year.

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Star Health and Allied Insurance Company | Standalone health insurer reported a net profit of ₹54.9 crore for Q2FY26, down 50.7% from ₹111.3 crore in the same quarter last year. Gross Premium Written (GWP) for the quarter rose marginally by 1.2% to ₹4,423 crore from ₹4,371 crore a year ago. For the half year ended September 30, 2025 (H1FY26), the company posted a Profit After Tax (PAT) of ₹518 crore, marking a 21% year-on-year growth under IFRS. The growth was supported by a healthier loss ratio and improved operating efficiency.

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M&M Finance | Non-bank lender reported a net profit of ₹564 crore for the second quarter, up 45% from ₹389 crore in the same period last year. Net Interest Income (NII) grew 14.6% year-on-year to ₹2,279 crore from ₹1,988 crore in Q2 FY25. The company’s loan book expanded by 13% YoY, while total disbursements grew 3% to ₹13,514 crore. Tractor disbursements, however, surged 41% YoY, reflecting strong performance in this segment.

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BEML | State-owned company said it has entered into a quadripartite Memorandum of Understanding (MoU) with Deendayal Port Authority (DPA), Delhi Metro Rail Corporation (DMRC) and Umeandus Technologies India Private Ltd (UTIPL). Under this MoU, the parties have formed an alliance covering the areas of the Real Time Automatic Cargo Evacuation System (e-FTS and Enhance Freight Transport System). As per the agreement, Deendayal Port Authority will serve as the client, while DMRC will act as the lead member.