Several stocks experienced significant declines following their fourth quarter results reported after market hours on Friday and over the weekend. According to reports from CNBC TV18, Hind Rectifiers emerged as the top loser on the BSE Smallcap index, with the stock down 11% and marking its biggest single-day fall since February 2020. VIP Industries also declined over 7%, marking its biggest single-day drop since October 2024, while Amber Enterprises fell 10% on Monday. Other notable decliners included Symphony, KEC International, Bajaj Electricals, and Cochin Shipyard. Cochin Shipyard shares dropped as much as 7.5% to an intraday low of ₹1,475 on Monday after reporting mixed March quarter results.
Hind Rectifiers faced severe margin compression with EBITDA down 58% during the quarter and margins narrowing to 3% from 10.8% last year. As reported by CNBC TV18, Symphony reported a net loss of ₹218 crore compared to a net profit of ₹79 crore previously, with EBITDA declining 53% and margins narrowing by over 700 basis points. KEC International missed expectations due to a ₹450 crore collection spillover, with margins declining by 80 basis points due to operating deleverage. Bajaj Electricals saw revenue decline 7% in the consumer products segment, with an exceptional impairment loss of ₹26.4 crore due to Nirlep's goodwill.
Despite revenue challenges, several companies demonstrated strong operational improvements. Cochin Shipyard delivered impressive margin expansion with EBITDA rising 16.5% to ₹310 crore from ₹266 crore in Q4FY25, while EBITDA margin expanded significantly to 20.9% from 15.1% a year earlier. This improvement reflected tighter cost controls and enhanced operational efficiency. VIP Industries indicated that growth will start from FY27 and targets to regain lost market share in FY28 and beyond, while KEC International expects to win orders worth ₹30,000 crore in FY27.
Cochin Shipyard announced a final dividend of ₹1.5 per share for FY26, subject to shareholder approval at the upcoming Annual General Meeting. The dividend will be paid within 30 days from the date of declaration. Despite the operational improvements, market sentiment remained cautious with Cochin Shipyard stock declining around 14% over the last six months and down nearly 8% so far this year. The company's shares have fallen about 25% on a one-year basis, though over five years, the stock has delivered multibagger returns of nearly 670%.
