Stocks to Watch for Jan 21: India Mart Inter Mesh, DCM Shriram and more ( 2nd part)

DCM Shriram profit falls; Shoppers Stop profit plunges. Here are few stocks to Watch ahead of Wednesday’s trading session.

DCM Shriram

The company released its December quarter results, showing a 19% year-over-year decline in net profit to ₹212 crore in Q3 FY26 from ₹262 crore the previous year, despite a healthy 13.8% increase in revenue to ₹4,003 crore due to robust demand across business segments; operating performance remained strong, with EBITDA growing 7.1% to ₹531.5 crore, although margins narrowed to 13.60 per share for FY26. The company also announced a second interim dividend of 180% for FY26, with a 30 days to be paid out.

IndiaMART InterMESH

Despite pressure on margins, the company recorded excellent bottom-line growth in the December quarter, with net profit rising 55.6% year over year to ₹188.3 crore in Q3 FY26. EBITDA decreased 2.9% to ₹134.5 crore, while revenue from operations increased 13.4% YoY to ₹401.6 crore. As a result, the EBITDA margin shrank to 33.5% from 39.1% the previous year. According to the company’s exchange filing, customer collections remained robust at ₹426 crore, showing 17% YoY growth, led by standalone IndiaMART collections of ₹390 crore and ₹33 crore from Busy Infotech.

Shoppers Stop Ltd

Even though revenue increased 2.6% YoY to ₹1,415 crore, the multi-brand fashion retailer reported a sharp decline in Q3 net profit to ₹16.1 crore from ₹352.2 crore the previous year; EBITDA fell 11.1% to ₹217.8 crore with margins contracting to 15.4%; overall sales remained flat due to changes in the holiday calendar, uneven discretionary demand, and high pollution levels in North India, while its premium portfolio continued to show consistent like-for-like growth.

Rallis India

Despite a 19.3% increase in revenue to ₹623 crore, the company reported a significant 81.8% year-over-year decline in Q3 net profit to ₹2 crore. While PBT before extraordinary items grew to ₹36 crore, operating performance improved, with EBITDA up 31.8% to ₹58 crore and margins growing to 9.3%. The quarter was affected by exceptional charges related to enhanced gratuity provisions under the pay code implementation.

Vikram Solar Ltd 

Thanks to better execution and increased operational efficiency, the company declared a profit of ₹98 crore in the December 2025 quarter, up from ₹19 crore the previous year. Despite a ₹56 crore effect from the labor code, revenue increased to ₹1,106 crore and EBITDA more than doubled to ₹205 crore. With a strong order book of 10.6 GW at the end of the quarter, mostly from domestic projects, the solar module manufacturer completed the commissioning of its 5 GW Vallam plant, bringing its total capacity to 9.5 GW while switching to high-efficiency N-Type modules under the HYPERSOL series.

Cyient DLM Ltd 

The December quarter saw a slight increase in profitability for the Electronic Manufacturing Services company, with net profit up 2.7% year over year to ₹11.2 crore from ₹10.9 crore during the same period last year. However, the company’s year-over-year performance was hurt by the fulfillment of a big order, which caused revenue to drop dramatically by 31.7% YoY to ₹303.3 crore from ₹444.2 crore. It also reported that profit after tax in Q2 comprised a one-time income of ₹19.58 crore.

Disclaimer: This narrative is solely intended for educational reasons. The opinions and suggestions expressed above are not those of the Times of Dalal Street, but rather those of specific analysts or broking firms. Before making any financial decisions, we suggest investors to consult with qualified specialists

Read: Stocks to Watch for January 21: JSW Energy, United Spirits, Persistent Systems and more

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