Indian Stocks: ICICI Lombard, Tata Elxsi, NLC India Q3 Results & Updates | Quick Digest
ICICI Lombard reported a 9% profit decline in Q3 FY26 despite premium growth. Tata Elxsi's Q3 net profit fell 45% due to labor codes, while NLC India approved a renewables subsidiary listing and interim dividend, making these key stocks to watch.
ICICI Lombard Q3 FY26 net profit fell 9% to ₹658.76 crore, impacted by higher costs.
Tata Elxsi's Q3 FY26 net profit plunged 45% YoY to ₹108.89 crore, largely due to new labor codes.
NLC India's board approved the listing of its renewables arm (NIRL) with up to 25% equity dilution.
ICICI Lombard's net premium income for Q3 FY26 rose 12.6% YoY to ₹5,685.30 crore.
Tata Elxsi reported a 3.9% QoQ revenue growth to ₹953.5 crore, led by its transportation business.
NLC India declared an interim dividend of ₹3.60 per equity share for FY2025-26.
On January 13, 2026, several prominent Indian companies announced significant financial results and corporate decisions, positioning them as 'Stocks to Watch' for January 14. ICICI Lombard General Insurance reported a 9% year-on-year decline in its Q3 FY26 net profit, which stood at ₹658.76 crore. This decrease was primarily attributed to an increase in expenses, commissions, and employee costs, including an estimated incremental gratuity expense resulting from India's new labor codes. Despite the profit dip, the insurer demonstrated robust growth in its net premium income, which climbed 12.6% year-on-year to ₹5,685.30 crore, with its gross direct premium income (GDPI) outpacing the industry average.
Tata Elxsi, a leading design and technology services provider, saw its Q3 FY26 consolidated net profit plunge by 45% year-on-year to ₹108.89 crore. This substantial decline was largely due to a one-time exceptional charge related to the implementation of the new labor codes. However, the company's revenue from operations showcased a sequential growth of 3.9% to ₹953.5 crore, primarily driven by its transportation business, and its EBITDA margin improved by 220 basis points quarter-on-quarter.
Separately, NLC India's board granted in-principle approval for the listing of NLC India Renewables Limited (NIRL), its wholly-owned subsidiary, through the dilution of up to 25% equity stake via public offerings. This strategic move aligns with the Government of India's National Monetisation Pipeline objectives. Furthermore, the board declared an interim dividend of ₹3.60 per equity share for FY2025-26, with January 16, 2026, set as the record date for eligible shareholders. An investment of up to ₹66.60 crore in NIRL was also approved to fund green energy projects. These developments are poised to influence investor sentiment and trading activity for these companies in the Indian stock market.
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