New Delhi, June 2 -- More companies slipped into losses in the March quarter (Q4FY26) despite a broader recovery in revenues, as rising input costs hit smaller firms with limited pricing power and weaker balance sheets. Analysts warn the deterioration could intensify in the coming quarters as rising crude oil prices begin to fully impact India Inc's bottom lines.

A Mint analysis of 1,572 companies' standalone earnings revealed India Inc's raw material cost rose 12% year-on-year in Q4, marking the sharpest increase in at least three years. Sequentially, it rose 10%, though the immediate impact was largely limited to logistics and packaging, as most companies continued to benefit from lower-cost inventories built before the crude oil spike...