SYNOPSIS: Several large-cap companies, including BPCL and Titan, have reported more than 50 percent year-on-year EBITDA growth in Q3 FY26, reflecting improved operating performance despite mixed revenue trends and margin movements.
EBITDA, short for Earnings Before Interest, Taxes, Depreciation, and Amortisation, is a widely used financial metric that helps assess a company’s operating profitability. By excluding financing costs, tax obligations, and non-cash charges such as depreciation and amortisation, EBITDA offers a clearer view of how efficiently a business generates earnings from its core operations.
Investors, analysts, and corporate managers frequently rely on EBITDA to evaluate financial health, benchmark profitability against peers, and track operational improvements over time. Here are a few large-cap stocks that reported more than 50 percent year-on-year EBITDA growth in Q3 FY26:
Bharat Petroleum Corporation Limited
With a market cap of Rs. 1.67 lakh crores, the stock closed in the red at Rs. 385.7 on BSE, down by around 0.05 percent on Friday.
For Q3 FY26, BPCL reported a revenue from operations of Rs. 1,19,029 crores, representing a growth of around 13 percent QoQ and 5 percent YoY. Further, the net profit stood at Rs. 7,188 crores, indicating a rise of nearly 16 percent QoQ and 89 percent YoY.
Operating performance improved significantly during the quarter, with EBITDA rising sharply to Rs. 11,687 crore from Rs. 7,456 crore in Q3 FY25, marking a substantial 57 percent YoY increase. EBITDA margins also expanded by 300 bps to 10 percent from 7 percent.
Bharat Petroleum Corporation Limited, a Government of India Enterprise, is engaged in the business of refining crude oil and marketing of petroleum products, with refineries in Mumbai, Kochi and Bina, LPG bottling plants and Lube blending plants at various locations. Its marketing infrastructure includes a vast network of Installations, Depots, Retail Outlets, Aviation Fueling Stations and LPG distributors.
Titan Company Limited
With a market cap of Rs. 3.84 lakh crores, the stock closed in the red at Rs. 4,328.4 on BSE, down by around 0.3 percent on Friday.
For Q3 FY26, Titan Company reported a revenue from operations of Rs. 25,416 crores, representing a growth of around 36 percent QoQ and 43 percent YoY. Further, the net profit stood at Rs. 1,684 crores, indicating a rise of nearly 50 percent QoQ and 61 percent YoY.
Operating performance improved significantly during the quarter, with EBITDA rising sharply to Rs. 2,713 crore from Rs. 1,674 crore in Q3 FY25, marking a substantial 62 percent YoY increase. EBITDA margins also expanded by 200 bps to 11 percent from 9 percent.
Titan Company Limited, one of India’s most respected lifestyle companies, has established leadership positions in the watches, jewellery and eyewear categories led by its trusted brands and differentiated customer experience. It was founded in 1984 as a joint venture between the TATA Group and Tamil Nadu Industrial Development Corporation (TIDCO).
Eternal Limited
With a market cap of Rs. 2.37 lakh crores, the stock closed in the green at Rs. 246.45 on BSE, up by around 0.02 percent on Friday.
For Q3 FY26, Eternal reported a revenue from operations of Rs. 16,315 crores, representing a growth of around 20 percent QoQ and 202 percent YoY. Further, the net profit stood at Rs. 102 crores, indicating an impressive rise of nearly 57 percent QoQ and 73 percent YoY.
Operating performance improved significantly during the quarter, with EBITDA rising sharply to Rs. 368 crore from Rs. 162 crore in Q3 FY25, marking a substantial 127 percent YoY increase. However, EBITDA margins contracted by 100 bps to 2 percent from 3 percent.
Eternal Limited provide restaurant partners with industry-specific marketing tools to acquire customers, providing delivery partners with transparent and flexible earning opportunities.
The company’s technology platform connects customers, restaurant partners and delivery partners, and other intermediaries such as call centre operators serving their multiple needs. Customers use the platform to search/discover restaurants, read/write reviews, upload photos, order food, book tables and make payments while dining out.
Indian Oil Corporation Limited
With a market cap of Rs. 2.64 lakh crores, the stock closed in the green at Rs. 187.55 on BSE, up by around 1 percent on Friday.
For Q3 FY26, IOCL reported a revenue from operations of Rs. 2.36 lakh crores, representing a growth of around 14 percent QoQ and 8 percent YoY. Further, the net profit stood at Rs. 13,502 crores, indicating a rise of nearly 65 percent QoQ and 529 percent YoY.
Operating performance improved significantly during the quarter, with EBITDA rising sharply to Rs. 22,745 crore from Rs. 7,573 crore in Q3 FY25, marking a substantial 200 percent YoY increase. EBITDA margins also expanded by 700 bps to 11 percent from 4 percent.
Indian Oil is India’s flagship Maharatna national oil company, engaged in the business of the entire hydrocarbon value chain – from refining, pipeline transportation & marketing, to exploration & production of crude oil & gas, petrochemicals, gas marketing, alternative energy sources and globalisation of downstream operations.
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