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Informist, Monday, Jan. 12, 2026

 

By Anand JC

 

NEW DELHI – The cut in goods and services tax and the festival season are expected to fail to be strong enough triggers for the bottom line growth of Nifty 200 companies for the December quarter. The bottom line of the Nifty 200 companies is expected to grow at a five-quarter low for the December quarter year-on-year, according to brokerage estimates.

 

The 186 of the Nifty 200 companies for which earnings estimates are available are expected to report a profit growth of 9% on year and 5% on quarter for the December quarter, according to an Informist Poll of 20 brokerages. The cumulative net profit of these 186 Nifty 200 companies had grown 12.5% on year in the September quarter and 10% on year in the year-ago quarter.

 

The figures are not strictly comparable across periods, given that only 179 of these 186 companies were part of the Nifty 200 in the September quarter and 169 were part of the index in the year-ago quarter. Brokerages' estimates for the December quarter have been compared with companies' net profit excluding one-time gains and losses for the previous quarters to enable a like-to-like comparison.

 

The analysis also excludes three companies - Tata Consultancy Services Ltd., HCL Technologies Ltd., and Avenue Supermarts Ltd. -- that have already reported their earnings.

 

The cumulative bottom line growth of as many as 10 sectors within the 22-sector Nifty 200 universe are expected to exceed the index group's estimated 9% profit growth. Among the remaining 12 sectors which are each expected to cumulatively report a bottom line growth weaker than Nifty 200, seven sectors' profit is expected to contract year-on-year for the December quarter. In the year-ago quarter, 10 sectors outperformed the Nifty 200's bottom line growth while the bottom line of the remaining sectors grew slower than that of the index or in some cases, contracted year-on-year.

 

Capital goods, financial services, metals and mining, and oil and gas companies are expected to drive the Nifty 200 group's profit growth while automobile and ancillaries, power, and telecom companies are expected to limit it.

 

Automobile companies are expected to be amongst the biggest beneficiaries of the GST cut. However, the bottom line of the 15 automobile companies that are a part of the Nifty 200 is expected to fall 9% on year for the reporting quarter, mainly because Tata Motors Passenger Vehicles Ltd. will report a very large loss due to the disruption of production at its Jaguar Land Rover unit.

 

Excluding Tata Motors PV, the automobile sector companies' profit is expected to grow 31% on year. Further, excluding Tata Motors PV, the 186 companies' net profit growth estimate rises to 12% on year for the December quarter.

 

In order to ensure a like-to-like comparison, the net profit for Tata Motors' passenger vehicles business in the year-ago quarter was derived from the figures reported by the undivided Tata Motors. The net profit for the passenger vehicles business was calculated by allocating tax in proportion to the PV segment's share of profit before tax, based on segment earnings data. This calculation was required as under the current disclosure norms companies are not required to report segment profit after tax.

 

The top line of the 186 Nifty 200 companies is expected to rise 7.3% on year for the December quarter. If the estimates hold, this will be the fifth consecutive quarter of single digit growth on a year-on-year basis. The revenue growth of these 186 companies is slower than the 8.2% top line growth in the September quarter and the 6.3% growth in the year-ago quarter.

 

Of the 22 Nifty 200 sectors, 17 are expected to deliver cumulative top-line growth above the index's consensus estimate while five are expected to lag. Among the laggards--automobile and ancillaries, banks, construction, oil and gas, and power--the combined revenue of construction and oil and gas companies is expected to contract year-on-year in the December quarter.

 

LAGGARDS AND LEADERS

Banks contribute just over a quarter to the Nifty 200's total net profit, making them by far the most significant grouping within the index. However, analysts expect banks to disclose muted earnings growth for the reporting quarter. The 16 banks that are a part of the Nifty 200 are expected to report a bottom line and top line growth of just 3% on year. Compared to the September quarter, their cumulative revenue and profit are expected to grow 2% and 4%, respectively.

 

Credit and deposits both grew 12% on year in the December quarter, based on provisional data reported by banks so far, Kotak Securities said in a note. "NIM (net interest margin) should remain flat sequentially, though commentary on any improvement from current levels may turn cautious amid headwinds from intensifying competition, slower deposit accretion and pending rate-cut passthrough," Kotak Securities said.

 

Of the 29 financial services companies that are a part of the Nifty 200, 22 are expected to report a 19% growth in bottom line and 17% growth in top line for the December quarter. These 22 companies' collective profit accounts for around 13% of the Nifty 200's profit. Estimates for seven companies -- 360 ONE WAM Ltd., Bajaj Finserv Ltd., Bajaj Holdings & Investment Ltd., Housing & Urban Development Corp. Ltd., Indian Railway Finance Corp. Ltd., Indian Renewable Energy Development Agency Ltd., and Jio Financial Services Ltd. -- are not available. Non-banking financial companies and small finance banks are expected to report a higher net interest income growth due to Muthoot Finance Ltd., which likely gained from strong gold prices, YES Securities said.

 

Metal and mining companies are expected to report among the strongest earnings growth for the December quarter, mainly due to higher commodity prices. The collective revenue of these nine companies that are a part of Nifty 200 is expected to grow 10% on year and their profit is likely to grow 35% on year. The sharp recovery in base metal prices is expected to help non-ferrous metal companies' margins for the December quarter.

 

The four cement companies out of the Nifty 200 are expected to report a top line growth of 12% on year but a bottom line fall of 34% on year for the December quarter. While demand for cement picked up in November and December, it remained uneven across geographies, analysts said. "Volume growth for the industry in Q3FY26 is likely to be 5–5.5% YoY constrained by labour migration (Bihar elections), pollution-related construction curbs, etc.," Nuvama Institutional Equities said in a note.

 

Analysts expect capital goods companies' execution growth to remain healthy due to strong order inflows and order books. Of the 16 capital goods companies that are a part of the Nifty 200, 15 for which estimates are available are expected to report a 17% on year growth in revenue and 29% on year growth in profit for the December quarter. Estimates for Rail Vikas Nigam Ltd. were not available. "Based on our discussions with companies, domestic private sector ordering is picking up selectively from metals and mining, buildings & factories, and thermal power, and further pickup is expected in the coming quarters," Motilal Oswal said.

 

The collective bottom line of the nine oil and gas companies accounts for 15% of Nifty 200's net profit. For the December quarter, the cumulative net profit of eight of these nine companies is expected to rise 28% on year but the revenue is expected to remain largely unchanged on year. State-run Indian Oil Corp. Ltd. is the outlier within this group as analysts expect the company's net profit to grow four-fold for the reporting quarter due to a low base and a decline in oil prices. Excluding Indian Oil, the seven oil and gas companies' cumulative net profit growth expectation moderates to 10% on year. Estimates for Adani Total Gas Ltd. were not available.

 

MIXED PERFORMERS

The collective bottom line of five telecommunications companies out of the Nifty 200 is expected to fall 35% on year while their revenue is expected to rise 14% on year. The sharp fall in net profit is because of a high base of Indus Towers Ltd. In the year-ago quarter, the company had had a write-back of INR 30.24 billion of doubtful receivables. Excluding the telecom infrastructure company, the remaining four companies' collective bottom line growth is expected to grow to 28% on year.

 

The collective top line growth of 11 of the 12 fast-moving consumer goods companies of the Nifty 200 is expected to be 8.6% on year for the December quarter, slightly better than the 8% growth expected for the index companies. However, their bottom line growth is expected to be 6.5%, far below the 9% growth estimated for the index companies. Estimates for Godfrey Phillips India were not available.

 

While demand remained largely steady, value growth remained in single-digit for FMCG companies during the September quarter as prices fell due to GST cut, YES Securities said. "On the profitability front, margin pressure is expected to ease with softening of input costs, which, along with a favourable base, shall result in higher EBITDA growth," JM Financial said in a report.

 

In what is a seasonally weak quarter for information technology companies, the 13 IT companies of the Nifty 200 are expected to mirror the Nifty 200 on revenue growth but slightly underperform on profit growth. These 13 companies are expected to report a revenue and profit growth of 8?ch for the December quarter. "Discretionary spending remains elusive across most verticals...however, typical seasonal factors such as furloughs, along with macro-economic uncertainty, are likely to keep sequential revenue growth muted for the majority of players in Q3," YES Securities said.

 

Following are the Oct-Dec consensus earnings estimates of companies that constitute the National Stock Exchange's Nifty 200 index. These estimates are based on reports compiled by Informist Media from 20 brokerage houses.

 

Company name	Sales, INR million	PAT, INR million	Sales Y-o-Y Change %	PAT Y-o-Y Change %	Sales Q-o-Q Change %	PAT Q-o-Q Change %	EBITDA, INR million	Result date	Number of estimates available
AIRPORTS & AVIATION
GMR Airports +	40,393	1,353	52.24	N.A.	10.06	N.A.	14,882	--	2
Interglobe Aviation	229,777	16,465	3.92	(32.58)	23.83	N.A.	53,998	--	6
Total	270,169	17,818	9.10	(22.54)	21.56	N.A.
Company name	Sales, INR million	PAT, INR million	Sales Y-o-Y Change %	PAT Y-o-Y Change %	Sales Q-o-Q Change %	PAT Q-o-Q Change %	EBITDA, INR million	Result date	Number of estimates available
AUTO-ANCILLARY
Ashok Leyland	113,289	10,944	19.52	43.67	18.15	34.93	14,025	--	7
Bajaj Auto	153,467	26,492	19.83	25.63	2.85	6.84	31,366	Jan. 30	9
Bharat Forge	25,689	3,844	22.57	10.78	31.95	20.94	6,373	--	4
Bosch	50,016	5,766	12.00	14.11	4.31	4.04	6,752	Feb. 6	1
Eicher Motors +	60,235	14,102	21.12	20.48	(2.40)	2.97	14,877	--	9
Exide Industries	43,087	2,841	11.95	15.94	3.12	28.68	4,802	Jan. 30	6
Hero MotoCorp	121,916	14,618	19.40	21.53	0.54	4.95	18,067	--	8
Hyundai Motor India +	179,888	14,075	8.05	21.26	3.02	(10.48)	22,870	--	7
M&M	395,475	41,571	27.72	40.24	12.74	(8.04)	59,021	Feb. 11	8
Maruti Suzuki	510,170	46,913	32.54	33.09	21.18	42.46	60,855	--	8
MRF	76,334	6,226	10.90	102.98	5.29	21.69	11,657	--	3
Samvardhana Motherson International +	310,782	10,143	12.33	15.44	3.00	17.51	27,926	--	6
Sona Blw Precision Forgings +	11,300	1,762	30.19	12.32	(1.18)	1.02	2,788	--	6
Tata Motors PV +	732,847	(25,112)	(21.72)	N.A.	1.29	N.A.	19,629	--	5
TVS Motor Co	123,151	10,374	35.38	67.73	3.44	14.49	15,866	Jan. 28	9
Total	2,907,647	184,558	6.85	(9.17)	7.22	21.83
Company name	Sales, INR million	PAT, INR million	Sales Y-o-Y Change %	PAT Y-o-Y Change %	Sales Q-o-Q Change %	PAT Q-o-Q Change %	EBITDA, INR million	Result date	Number of estimates available
BANK
AU Small Finance Bank*	23,166	6,887	14.53	30.33	8.03	22.79	N.A.	Jan. 20	10
AXIS Bank*	140,590	59,504	3.33	(5.61)	2.29	16.91	N.A.	Jan. 26	12
Bank of Baroda*	121,551	46,737	6.47	(3.38)	1.69	(2.82)	N.A.	--	11
Bank of India*	60,832	22,565	0.21	(10.34)	2.87	(11.67)	N.A.	--	2
Canara Bank*	93,627	49,408	2.34	20.38	2.42	3.50	N.A.	--	5
Federal Bank*	25,576	10,073	5.19	5.43	2.50	5.45	N.A.	Jan. 16	12
HDFC Bank*	326,203	183,704	6.42	9.77	3.39	(1.45)	N.A.	Jan. 17	12
ICICI Bank*	219,928	123,725	7.96	4.92	2.15	0.11	N.A.	Jan. 17	11
IDFC First Bank*	53,837	4,997	9.82	47.20	5.30	41.82	N.A.	Jan. 31	6
Indian Bank*	67,188	31,357	4.74	9.93	2.56	3.89	N.A.	--	5
IndusInd Bank*	43,546	2,448	(16.71)	(82.53)	(1.24)	N.A.	N.A.	Jan. 23	9
Kotak Mahindra*	75,525	34,772	4.95	5.22	3.31	6.88	N.A.	--	11
Punjab National Bank*	104,427	46,837	(5.34)	3.89	(0.25)	(4.49)	N.A.	--	8
SBI*	420,321	172,788	1.42	2.29	(2.21)	11.00	N.A.	--	12
Union Bank of India*	90,244	41,106	(2.34)	(10.71)	2.41	(3.26)	N.A.	--	5
YES Bank*	24,337	7,476	9.45	22.11	5.77	14.23	N.A.	Jan. 17	4
Total	1,890,897	844,384	3.10	2.61	1.43	3.86
Company name	Sales, INR million	PAT, INR million	Sales Y-o-Y Change %	PAT Y-o-Y Change %	Sales Q-o-Q Change %	PAT Q-o-Q Change %	EBITDA, INR million	Result date	Number of estimates available
CAPITAL GOODS
ABB India	34,720	4,407	3.18	(17.15)	4.87	7.78	5,408	Feb. 19	8
APL Apollo Tubes +	56,551	2,995	4.09	38.03	8.62	(0.68)	4,531	--	5
Astral +	15,715	1,294	12.49	13.41	(0.37)	(4.01)	2,453	--	7
BHEL	86,707	3,287	19.15	163.42	15.43	(10.61)	6,125	Jan. 19	3
CG Power and Industrial Solutions +	32,341	3,158	28.56	31.28	10.65	10.13	4,296	Jan. 27	3
Container Corp.	23,939	3,577	8.72	4.14	1.81	(5.06)	5,421	--	4
Cummins India	31,542	5,945	2.21	15.66	(0.51)	(6.77)	6,598	Feb. 4	8
L&T +	746,531	42,902	15.44	27.73	9.81	9.27	75,232	--	7
Polycab India +	66,828	6,481	27.87	41.64	3.17	(5.45)	9,682	Jan. 16	6
Premier Energies +	20,935	3,381	22.19	32.48	13.97	(4.33)	6,165	Jan. 22	4
Rail Vikas Nigam	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	--	--
Siemens +	41,386	4,044	15.37	8.76	(19.97)	(16.61)	4,863	--	8
Siemens Energy India	19,472	2,641	28.36	13.96	(26.40)	(26.57)	3,612	--	2
Supreme Industries +	26,896	2,035	7.16	8.84	12.35	23.53	3,340	--	7
Tube Investments of India	21,216	1,844	11.07	14.72	0.12	(1.26)	2,732	--	1
Waaree Energies +	64,831	10,428	87.52	111.65	6.88	23.76	15,524	--	5
Total	1,289,609	98,417	17.38	29.47	6.81	3.41
Company name	Sales, INR million	PAT, INR million	Sales Y-o-Y Change %	PAT Y-o-Y Change %	Sales Q-o-Q Change %	PAT Q-o-Q Change %	EBITDA, INR million	Result date	Number of estimates available
CEMENT
ACC +	63,099	5,104	6.45	(53.24)	6.38	(54.39)	7,723	--	10
Ambuja Cements +	100,154	8,251	7.36	(61.00)	9.17	(58.51)	17,381	--	12
Shree Cement	47,778	3,540	12.80	54.31	11.03	27.73	9,474	Feb. 6	12
UltraTech Cement +	206,750	14,863	16.29	9.33	5.45	20.68	33,791	Jan. 24	12
Total	417,781	31,758	12.10	(33.78)	7.08	(31.21)
Company name	Sales, INR million	PAT, INR million	Sales Y-o-Y Change %	PAT Y-o-Y Change %	Sales Q-o-Q Change %	PAT Q-o-Q Change %	EBITDA, INR million	Result date	Number of estimates available
CHEMICAL
Asian Paints +	89,926	11,920	5.18	7.34	5.41	19.96	17,597	Jan. 27	9
Coromandel International +	79,867	5,298	15.16	3.52	(17.27)	(34.21)	7,789	--	3
Grasim Industries	99,101	(1,286)	22.04	N.A.	3.12	N.A.	4,057	--	4
PI Industries	16,403	3,111	(7.84)	(26.58)	(6.41)	(36.64)	4,197	--	7
Pidilite Industries +	37,276	6,301	10.65	14.06	4.87	8.78	8,926	--	4
SRF +	37,166	4,153	6.45	53.20	2.10	6.99	8,134	--	9
UPL +	116,079	5,619	6.43	(37.84)	(3.42)	36.72	21,814	--	3
Total	475,818	35,116	10.27	(2.59)	(2.42)	(21.49)
Company name	Sales, INR million	PAT, INR million	Sales Y-o-Y Change %	PAT Y-o-Y Change %	Sales Q-o-Q Change %	PAT Q-o-Q Change %	EBITDA, INR million	Result date	Number of estimates available
CONSTRUCTION
IRB Infrastructure Developers +	19,000	2,102	(6.19)	(5.31)	8.51	49.26	9,455	--	2
Total	19,000	2,102	(6.19)	(5.31)	8.51	49.26
Company name	Sales, INR million	PAT, INR million	Sales Y-o-Y Change %	PAT Y-o-Y Change %	Sales Q-o-Q Change %	PAT Q-o-Q Change %	EBITDA, INR million	Result date	Number of estimates available
DURABLES
Blue Star +	30,604	1,299	9.01	8.17	26.34	31.17	2,246	Jan. 29	3
Dixon Technologies (India) +	109,613	1,836	4.86	7.22	(26.21)	(72.60)	4,123	--	7
Havells India	53,744	3,636	10.07	28.57	12.75	14.53	5,136	Jan. 19	7
Hitachi Energy India	20,502	2,337	26.53	70.11	11.88	(11.60)	2,897	--	2
KEI Industries	30,831	2,285	24.71	38.65	13.09	12.28	3,199	--	4
Voltas +	31,406	886	1.14	(32.96)	33.80	158.34	1,340	--	7
Total	276,700	12,278	9.19	21.76	(4.42)	(22.71)
Company name	Sales, INR million	PAT, INR million	Sales Y-o-Y Change %	PAT Y-o-Y Change %	Sales Q-o-Q Change %	PAT Q-o-Q Change %	EBITDA, INR million	Result date	Number of estimates available
DEFENCE
Bharat Dynamics	10,915	2,052	31.16	39.47	(4.84)	(4.95)	1,861	--	3
Bharat Electronics	66,596	14,514	15.70	10.28	15.54	12.85	18,650	Jan. 28	7
Cochin Shipyard	12,019	1,944	12.34	5.48	26.34	92.30	2,173	--	1
Hindustan Aeronautics	76,286	17,641	9.65	23.14	15.09	6.11	18,773	--	5
Mazagon Dock Shipbuilders +	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	--	--
Solar Industries India +	27,000	4,715	36.84	49.74	29.67	36.68	7,297	--	1
Total	192,815	40,866	16.24	20.37	16.35	13.18
Company name	Sales, INR million	PAT, INR million	Sales Y-o-Y Change %	PAT Y-o-Y Change %	Sales Q-o-Q Change %	PAT Q-o-Q Change %	EBITDA, INR million	Result date	Number of estimates available
FINANCE
360 ONE WAM *+	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	Jan. 15	--
Aditya Birla Capital *+	21,240	7,621	13.13	7.64	(3.39)	(10.89)	N.A.	--	3
Bajaj Finance *+	118,025	52,379	(34.56)	23.35	(41.51)	7.44	N.A.	Feb. 3	8
Bajaj Finserv *+	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	Feb. 4	--
Bajaj Holdings & Investment *+	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	Feb. 4	--
Bajaj Housing Finance *	9,919	6,648	23.05	21.31	3.70	3.40	N.A.	Feb. 2	3
BSE +	12,219	6,040	59.08	176.77	14.37	8.15	N.A.	--	2
Cholamandalam Investment and Finance *	37,130	13,394	28.61	23.27	9.89	15.93	N.A.	Jan. 30	6
HDFC Asset Management Co.	10,592	7,250	13.36	13.02	3.24	0.96	N.A.	Jan. 14	6
HDFC Life Insurance Co. #	199,503	4,378	18.96	5.51	6.25	(2.09)	N.A.	Jan. 15	1
Housing & Urban Development Corp. *	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	--	--
ICICI Lombard General Insurance Co. #	58,312	8,085	15.58	11.61	3.18	(1.35)	N.A.	Jan. 13	4
Indian Railway Finance Corp. *	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	Jan. 19	--
Indian Renewable Energy Development Agency *	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	Jan. 9	--
Jio Financial Services *+	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	Jan. 15	--
L&T Finance *+	24,890	7,645	11.26	22.05	3.57	4.04	N.A.	Jan. 16	5
LIC Housing Finance*	21,079	13,864	5.39	(3.18)	3.41	2.40	N.A.	--	8
Life Insurance Corp. of India #	1,143,409	132,778	6.97	20.09	(9.60)	32.07	21,196	--	1
M&M Financial Services*	23,031	7,471	20.50	(16.94)	9.07	31.23	N.A.	Jan. 28	9
Max Financial Services *+	94,053	0	7,563.41	N.A.	7,093.35	N.A.	N.A.	Feb. 11	1
Motilal Oswal Financial Services *+	14,926	5,592	422.71	(0.94)	360.17	54.30	N.A.	--	1
Muthoot Finance *	41,229	22,523	51.50	65.23	3.29	(3.96)	N.A.	--	5
One 97 Communications +	21,589	2,002	18.11	N.A.	4.75	(5.14)	1,776	--	2
PB Fintech +	17,259	1,726	33.62	141.26	6.96	27.98	N.A.	--	3
Power Finance Corp.*	53,724	44,980	14.48	8.26	1.57	0.81	N.A.	--	3
REC*	53,176	42,508	3.60	5.50	(2.35)	(3.95)	N.A.	--	3
SBI Cards and Payment Services *	24,615	5,357	56.74	39.78	42.30	20.44	N.A.	--	4
SBI Life Insurance Co. #	291,070	5,237	17.24	(4.92)	17.14	5.89	N.A.	--	1
Shriram Finance*	66,515	25,006	19.00	30.71	10.38	8.38	N.A.	--	8
Total	2,357,506	422,482	13.22	19.07	(0.83)	11.25
Company name	Sales, INR million	PAT, INR million	Sales Y-o-Y Change %	PAT Y-o-Y Change %	Sales Q-o-Q Change %	PAT Q-o-Q Change %	EBITDA, INR million	Result date	Number of estimates available
FMCG
Britannia Industries +	49,910	6,701	8.67	15.20	3.11	2.39	9,599	--	11
Colgate Palmolive	14,777	3,209	1.08	(0.59)	(2.75)	(2.02)	4,517	--	11
Dabur India +	35,585	5,597	6.06	7.14	11.51	23.67	7,322	Jan. 29	11
Godfrey Phillips India	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	--	--
Godrej Consumer +	41,134	5,846	9.15	15.98	7.54	19.55	8,590	Jan. 23	9
Hindustan Unilever	161,786	25,548	5.00	2.52	3.81	1.95	37,431	--	11
ITC	185,283	51,519	8.65	5.28	2.81	1.18	62,544	--	11
Marico +	35,475	4,436	26.97	11.19	1.88	5.63	5,919	Jan. 27	11
Nestle India	52,778	7,348	10.42	5.55	(6.48)	(2.45)	11,923	Jan. 30	11
Patanjali Foods	99,355	3,435	8.94	(7.40)	1.39	(33.52)	5,166	--	1
Tata Consumer Products +	50,168	4,099	12.90	43.79	1.03	1.33	7,040	--	9
United Spirits	36,307	5,101	5.79	(5.19)	14.53	1.61	6,381	--	7
Varun Beverages +	39,860	2,716	8.06	46.70	(18.60)	(63.35)	6,361	--	6
Total	802,417	125,554	8.59	6.49	1.65	(2.36)
Company name	Sales, INR million	PAT, INR million	Sales Y-o-Y Change %	PAT Y-o-Y Change %	Sales Q-o-Q Change %	PAT Q-o-Q Change %	EBITDA, INR million	Result date	Number of estimates available
IT
Coforge +	42,172	3,610	29.44	69.64	5.81	(3.94)	7,231	Jan. 22	13
HCL Tech +	331,857	47,492	11.03	3.45	3.89	12.14	71,983	Jan. 12	17
Infosys +	451,040	73,748	8.00	8.36	1.38	0.15	108,559	Jan. 14	17
KPIT Technologies +	16,205	1,937	9.64	3.62	2.07	14.58	3,434	--	9
LTIMindtree +	107,247	14,210	11.01	30.92	3.18	1.42	19,709	Jan. 19	17
Mphasis +	40,053	4,799	12.46	12.17	2.65	2.30	7,449	Jan. 22	14
Oracle Financial Services Software +	19,180	6,540	11.82	20.82	7.22	19.76	N.A.	--	1
Persistent Systems +	37,361	4,502	22.00	20.71	4.34	(4.51)	6,769	Jan. 20	16
Tata Elxsi	9,490	1,575	1.05	(20.87)	3.37	1.71	2,040	Jan. 13	9
Tata Technologies +	13,595	1,563	3.20	(7.34)	2.73	(5.58)	2,015	Jan. 16	8
TCS +	668,008	129,794	4.42	4.84	1.52	(1.75)	182,651	Jan. 12	17
Tech Mahindra +	141,683	13,805	6.64	40.41	1.24	15.57	22,685	Jan. 16	18
Wipro +	233,882	33,494	4.79	(0.13)	3.04	3.18	46,045	Jan. 16	17
Total	2,111,774	337,068	7.62	7.66	2.31	2.13
Company name	Sales, INR million	PAT, INR million	Sales Y-o-Y Change %	PAT Y-o-Y Change %	Sales Q-o-Q Change %	PAT Q-o-Q Change %	EBITDA, INR million	Result date	Number of estimates available
JEWELLERY
Kalyan Jewellers India+	99,474	3,852	36.68	76.01	26.62	47.84	6,601	Feb. 6	2
Titan Co.	218,283	15,151	35.60	53.04	32.02	50.61	23,327	--	6
Total	317,757	19,003	35.94	57.20	30.28	50.04
Company name	Sales, INR million	PAT, INR million	Sales Y-o-Y Change %	PAT Y-o-Y Change %	Sales Q-o-Q Change %	PAT Q-o-Q Change %	EBITDA, INR million	Result date	Number of estimates available
METAL & MINING
Hindalco Industries +	650,690	41,997	11.44	11.22	(1.50)	(14.69)	82,504	Feb. 12	8
Hindustan Zinc	101,511	34,741	18.64	31.25	19.07	32.00	55,709	--	5
Jindal Steel +	128,844	4,544	9.65	(52.20)	10.26	(28.81)	17,176	--	8
JSW Steel +	450,331	13,935	8.83	69.94	(0.26)	(14.14)	64,904	Jan. 23	10
National Aluminium Co.	44,125	14,374	(5.36)	(9.19)	2.80	0.30	20,338	--	5
NMDC	69,446	18,165	6.34	(6.55)	10.92	7.19	22,120	--	7
Steel Authority of India	272,665	3,073	11.34	215.90	2.11	(59.85)	20,612	--	9
Tata Steel +	576,137	24,104	7.39	432.30	(1.83)	(31.56)	79,876	--	10
Vedanta +	439,521	58,160	12.37	63.97	10.24	50.48	144,542	--	4
Total	2,733,270	213,093	9.98	34.72	2.28	1.01
Company name	Sales, INR million	PAT, INR million	Sales Y-o-Y Change %	PAT Y-o-Y Change %	Sales Q-o-Q Change %	PAT Q-o-Q Change %	EBITDA, INR million	Result date	Number of estimates available
OIL & GAS
Adani Total Gas+	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	Jan. 22	--
BPCL	1,080,287	68,820	(4.51)	48.03	2.97	6.82	98,528	--	10
GAIL	318,526	19,046	(8.83)	33.43	(9.01)	(14.10)	29,309	--	10
Hindustan Petroleum	1,046,714	44,404	(5.28)	46.89	3.86	15.93	77,984	--	10
Indian Oil Corp.	1,944,552	92,121	0.29	319.91	8.71	21.05	168,781	--	10
Indraprastha Gas	40,757	3,655	8.42	27.87	1.30	(1.89)	4,842	--	11
Oil India	51,471	8,845	(1.77)	(27.61)	(5.67)	(15.28)	17,023	--	8
ONGC	314,869	71,462	(6.61)	(13.27)	(4.67)	(27.43)	164,587	--	10
Reliance Ind +	2,521,358	196,632	5.06	6.06	(0.98)	8.25	480,667	Jan. 16	11
Total	7,318,533	504,985	(0.45)	27.58	2.11	1.96
Company name	Sales, INR million	PAT, INR million	Sales Y-o-Y Change %	PAT Y-o-Y Change %	Sales Q-o-Q Change %	PAT Q-o-Q Change %	EBITDA, INR million	Result date	Number of estimates available
PHARMA, HEALTHCARE
Alkem Laboratories +	37,308	5,898	10.57	(5.76)	(6.75)	(22.91)	7,571	--	5
Apollo Hospitals +	63,230	4,748	14.40	27.52	0.31	(0.51)	9,402	--	7
Aurobindo Pharma +	84,271	9,169	5.62	8.41	1.71	8.07	17,077	--	8
Biocon +	45,359	1,895	18.70	2,606.86	5.60	96.56	9,499	--	5
Cipla +	74,953	12,324	5.97	(21.53)	(1.24)	(8.79)	17,275	Jan. 23	6
Divi's Laboratories	26,555	6,356	15.61	7.00	(0.17)	(8.68)	8,643	--	7
Dr. Reddy's Lab +	83,474	11,378	(0.40)	(19.52)	(5.45)	(15.54)	18,237	Jan. 21	8
Fortis Healthcare +	22,632	2,626	17.37	17.18	(2.93)	(11.99)	5,060	--	4
Glenmark Pharmaceuticals +	37,414	5,179	10.45	48.84	(38.13)	(74.05)	7,472	--	2
Lupin +	67,888	12,391	17.70	44.90	(3.67)	(16.16)	19,071	--	8
Mankind Pharma +	36,069	5,106	12.76	36.69	(2.44)	(0.17)	9,136	--	3
Max Healthcare Institute +	24,991	3,918	33.76	25.39	17.03	(20.26)	6,561	--	6
Sun Pharma +	147,511	30,223	7.87	(6.13)	1.88	(3.07)	41,885	--	8
Torrent Pharma +	32,257	5,963	14.83	18.54	(2.31)	(1.28)	10,400	--	7
Zydus Lifesciences +	63,803	9,423	21.09	(7.97)	4.20	(27.12)	15,640	--	6
Total	847,713	126,596	11.02	3.02	(2.70)	(17.64)
Company name	Sales, INR million	PAT, INR million	Sales Y-o-Y Change %	PAT Y-o-Y Change %	Sales Q-o-Q Change %	PAT Q-o-Q Change %	EBITDA, INR million	Result date	Number of estimates available
PORT
Adani Ports and SEZ +	93,143	32,306	16.96	26.79	1.60	3.91	55,932	--	6
Total	93,143	32,306	16.96	26.79	1.60	3.91
Company name	Sales, INR million	PAT, INR million	Sales Y-o-Y Change %	PAT Y-o-Y Change %	Sales Q-o-Q Change %	PAT Q-o-Q Change %	EBITDA, INR million	Result date	Number of estimates available
POWER
Adani Energy Solutions +	80,308	9,235	37.74	64.39	21.76	72.95	19,432	Jan. 22	1
Adani Enterprises +	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	--	--
Adani Green Energy +	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	Jan. 23	--
Adani Power +	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	N.A.	Jan. 29	--
Coal India +	316,544	66,834	(14.12)	(21.42)	4.86	53.49	89,368	--	5
JSW Energy +	47,691	2,698	95.54	60.78	(7.89)	(61.71)	23,518	--	3
NHPC	21,625	4,243	9.75	55.06	(20.85)	(54.16)	9,591	Feb. 4	2
NTPC	425,965	48,754	2.97	3.48	8.76	4.77	119,823	--	4
NTPC Green Energy +	6,279	957	24.32	45.86	2.55	9.26	5,431	--	1
Power Grid	112,082	39,443	10.74	1.29	12.09	10.96	93,637	--	4
Suzlon Energy +	47,678	5,306	60.27	37.12	23.17	(58.53)	8,776	--	2
Tata Power +	162,236	10,223	5.41	(0.82)	4.37	11.18	33,765	--	4
Torrent Power +	66,619	5,401	2.50	13.55	(15.42)	(25.37)	12,441	--	1
Total	1,287,026	193,092	3.83	(3.81)	5.70	8.87
Company name	Sales, INR million	PAT, INR million	Sales Y-o-Y Change %	PAT Y-o-Y Change %	Sales Q-o-Q Change %	PAT Q-o-Q Change %	EBITDA, INR million	Result date	Number of estimates available
REAL ESTATE
DLF +	22,168	9,427	45.01	(30.74)	34.92	(0.24)	6,151	--	3
Godrej Properties +	13,157	8,565	35.80	426.60	77.71	111.43	1,242	--	3
Lodha Developers +	46,842	9,745	14.72	3.19	23.32	23.56	14,201	--	3
Oberoi Realty +	17,957	7,814	27.25	26.36	0.93	2.78	10,756	--	3
Phoenix Mills +	11,552	3,667	18.47	47.41	3.57	20.64	6,688	--	3
Prestige Estates +	29,175	3,708	76.34	1,994.92	19.98	(13.83)	9,475	--	3
Total	140,851	42,926	32.61	28.02	22.39	18.15
Company name	Sales, INR million	PAT, INR million	Sales Y-o-Y Change %	PAT Y-o-Y Change %	Sales Q-o-Q Change %	PAT Q-o-Q Change %	EBITDA, INR million	Result date	Number of estimates available
RETAIL
Avenue Supermarts	179,047	8,070	15.03	2.84	10.39	8.09	13,448	Jan. 10	5
FSN E-Commerce Ventures +	28,790	645	26.98	146.78	22.72	81.73	2,077	--	5
Page Industries	13,912	2,203	5.95	7.65	7.78	13.12	3,166	--	5
Trent	53,889	5,447	18.84	16.06	14.07	20.84	10,386	--	3
Vishal Mega Mart +	37,590	3,133	19.87	19.24	26.08	105.68	6,125	--	4
Total	313,227	19,497	16.81	11.57	13.65	23.41
Company name	Sales, INR million	PAT, INR million	Sales Y-o-Y Change %	PAT Y-o-Y Change %	Sales Q-o-Q Change %	PAT Q-o-Q Change %	EBITDA, INR million	Result date	Number of estimates available
SERVICES
Eternal +	163,698	764	202.86	29.41	20.45	17.46	2,825	--	6
Indian Hotels Co. +	28,045	6,824	10.72	17.19	37.41	139.52	10,701	--	6
Info Edge India	7,661	2,741	14.08	5.63	2.69	N.A.	3,090	--	4
IRCTC	13,070	3,577	6.72	4.83	14.05	6.44	4,476	--	2
ITC Hotels +	11,811	2,954	16.32	37.41	40.69	122.49	4,496	--	1
Jubilant Foodworks	18,129	814	12.53	23.68	6.72	27.26	3,327	--	5
Swiggy +	59,340	(10,125)	48.61	N.A.	6.71	N.A.	(7,683)	--	5
Total	301,753	7,548	83.39	4.80	17.77	N.A.
Company name	Sales, INR million	PAT, INR million	Sales Y-o-Y Change %	PAT Y-o-Y Change %	Sales Q-o-Q Change %	PAT Q-o-Q Change %	EBITDA, INR million	Result date	Number of estimates available
TELECOM
Bharti Airtel +	539,485	74,854	19.54	3.45	3.46	10.21	307,668	--	5
Bharti Hexacom	23,748	4,445	5.51	21.26	2.48	5.54	12,658	--	3
Indus Tower +	83,097	18,026	10.10	(54.97)	1.48	(2.00)	44,820	--	4
Tata Communications +	62,541	2,888	7.87	6.36	2.53	41.53	12,400	--	5
Vodafone Idea +	112,357	(66,034)	1.06	N.A.	0.37	N.A.	47,188	--	5
Total	821,227	34,180	14.31	(35.11)	2.72	(7.48)
Grand Total	27,186,631	3,345,625	7.29	9.08	3.38	5.25

 

Notes:

+ Consolidated Figure

* Net interest Income

Y-o-Y: Year-on-Year

# Net premium income

Q-o-Q: Quarter-on-Quarter

N.A.: Not Available

 

Estimates from:

Axis Securities Ltd, Dolat Capital Market Pvt Ltd, DRChoksey FinServ Pvt Ltd, Elara Securities (India) Pvt Ltd, Emkay Global Financial Services Ltd, HDFC Securities Ltd, HSBC Global Research, ICICI Securities Ltd, IDBI Capital Market Services Ltd, Indsec Securities and Finance Ltd, JM Financial Institutional Securities Pvt Ltd, Kotak Securities Ltd, Motilal Oswal Financial Services Ltd, Nirmal Bang Equities Pvt Ltd, Nomura Equity Research, Nuvama Wealth Management Ltd, Prabhudas Lilladher Pvt Ltd, Sharekhan Ltd, Systematix Shares and Stocks (India) Ltd and YES Securities (India) Ltd.

 

End

 

Compiled by Shivaji Jagatap

Edited by Ashish Shirke

 

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