First FY26 Annual Results: Companies Reporting Their Full-Year Numbers in April 2026

However, these companies are about to announce their first annual results after listing, and investors will be keeping a close eye on how these companies have coped with the changing environment and how their financial performance aligns with what was expected when the company went public. 

IPO wave amid tariff pressures, geopolitical tensions, and sustained FII outflows in FY26

FY26 has been a volatile year for Indian capital markets. Even before the conflict in West Asia escalated, Indian markets were already struggling. The Nifty had depreciated by 4.5%, and the Sensex by 5.4%, from its recent highs by February. 

Then the tariff war hit. The US imposed a 26% tariff on Indian goods in April 2025, which rose to 50% after additional penalties on countries importing Russian crude oil. Indian exports to the US crashed, down by 21.77% year on year in January 2026. The trade agreement in February reduced tariffs to 18%, but the damage had already been done. Months of uncertainty had already caused export plans to go awry. 

Then the conflict in West Asia escalated, oil prices shot up, the rupee hit a new low of ₹94.33 per dollar, and markets crashed by another 11%. Foreign investors pulled out of Indian markets in droves. FII outflows recorded a new high of ₹1,22,540 crore in March. FY26 saw a total of ₹1.7 lakh crore of FII selling. It was in this environment of tariff wars, conflict in West Asia, and selling pressure on Indian markets that 113 companies decided to float their IPOs, hoping to persuade investors that their stories were worth investing in.

Despite the broader weakness in market sentiment, some of the IPOs have shown positive performance. Out of 113 IPOs on the main board in FY26, currently, 33 companies are trading at higher levels than their issue price. Out of these, three companies, namely, Aditya Infotech, Ather Energy, and Belrise Industries, have shown appreciation of more than 100% each. The profit is measured on the basis of the current stock price and its IPO issue price.

Large IPO fundraises and strong oversubscription trends define FY26 listings

Among the largest IPOs in FY26 were Tata Capital, which raised ₹15,511.87 crore, followed by HDB Financial Services with ₹12,500 crore, LG Electronics India with ₹11,607.01 crore, and ICICI Prudential Asset Management, which raised ₹10,602.65 crore.

Highway Infrastructure turned out to be the most subscribed IPO in the FY26 cycle, achieving a subscription of 316.64 times. The IPO has achieved the highest subscription by Qualified Institutional Buyers (QIBs) as the QIB portion has been subscribed 432.71 times.

Apart from this, other companies have also seen high subscriptions of over 100 times for their IPOs, such as Regaal Resources, GNG Electronics, Borana Weaves, Corona Remedies, Bharat Coking Coal, Rubicon Research, Urban Co., Aditya Infotech, Aequs, and VMS TMT.

Top FY26 IPO companies by market capitalisation, representing the largest players among the 113 newly listed firms

The companies represent a significant portion of the total market capitalisation of the IPO cohort in FY26, which underlines their size and strength in relation to other newly listed companies.

These are the companies that made their stock market debut on the mainboard, with 113 new listings. A large number of these newly listed firms are now set to announce their first annual results, which investors are expected to closely track for insights into performance and post-listing growth trends.