PSU Q3 FY26 Results Today ↑: ONGC, Coal India, HAL, IRCTC Among 560+ Companies to Announce Earnings

Mumbai, February 12, 2026 – Dalal Street is bracing for a high-octane Thursday as over 560 companies are scheduled to release their Q3 FY2025-26 earnings. The spotlight remains firmly on the Public Sector Undertakings (PSUs), which have recently outperformed private peers. Investors are hunting for two things: Interim Dividends and Future Guidance.

The Q3 Scorecard: Expectations vs. Reality

Analysts expect a mixed bag, with Energy giants facing margin pressure while Defence and Railway PSUs continue their structural growth trajectory.

1. ONGC (Oil and Natural Gas Corporation)

Despite steady production, lower global crude realizations compared to last year might weigh on the bottom line.

• Last Result (Q2 FY26): ₹9,848 Crore (Standalone)

• Expected Q3 Profit: ₹8,800 – ₹9,300 Crore (~6% sequential decline expected)

• The "Investor Trigger": Watch for the Second Interim Dividend announcement and management commentary on the KG Basin output ramp-up.

2. Coal India Limited (CIL)

CIL is expected to report a massive sequential jump in profits due to seasonally higher demand for power during the winter months and increased production volume.

• Last Result (Q2 FY26): ₹4,263 Crore

• Expected Q3 Profit: ₹6,000 – ₹6,400 Crore (~45% QoQ Growth expected)

• The "Investor Trigger": E-auction premiums are the key metric. If premiums remain above 80%, the stock could see a fresh breakout.

3. HAL (Hindustan Aeronautics Ltd)

Defence remains the "darling" of the market. HAL’s focus on indigenization is expected to reflect in improved EBITDA margins.

• Last Result (Q2 FY26): ₹1,669 Crore

• Expected Q3 Profit: ₹1,900 – ₹1,980 Crore (~15-18% YoY Growth)

• The "Investor Trigger": The Order Book size. Anything above ₹95,000 Crore will be viewed as extremely bullish by the street.

4. IRCTC

With the expansion of Vande Bharat trains and a surge in luxury tourism, IRCTC is looking at a steady double-digit growth.

• Last Result (Q2 FY26): ₹341 Crore

• Expected Q3 Profit: ₹370 – ₹390 Crore (~11% YoY Growth)

• The "Investor Trigger": Revenue contribution from the Non-Ticketing segment (Catering & Tourism). Higher catering margins will be the primary driver for stock re-rating.

Comparative Analysis & Market Watch

Investor Strategy: What Should You Watch?

1. The Dividend Calendar:

February is the "Dividend Month" for PSUs. ONGC and Coal India are traditional heavy lifters here. Investors should keep an eye on the Record Date to be eligible for these payouts.

2. Management Commentary on Capex:

For companies like Bharat Electronics (BEL) and Engineers India (EIL), which also report today, the capital expenditure (Capex) guidance for the final quarter (Q4) will be more important than the Q3 numbers themselves.

3. Sectoral Rotation:

If PSU results exceed expectations, we might see a capital rotation out of high-valuation IT stocks back into "Value" PSU stocks.

4. The "Buy on Dips" Logic:

Market experts suggest that since the PSU index has seen a healthy consolidation in the last 30 days, any knee-jerk reaction to slightly lower-than-expected numbers could provide a long-term entry point for "Blue-chip" PSUs.

Disclaimer: The projections above are based on market consensus and historical data. Investors are advised to consult a certified financial advisor before making any investment decisions.