The fiscal fourth quarter earnings season has kicked into high gear, with a slew of prominent corporations unveiling their financial results. Major players from various sectors, including IT behemoths like Tata Consultancy Services (TCS), Infosys, Wipro, and HCL Tech, alongside giants such as Reliance Industries, HDFC Bank, Maruti Suzuki, and Nestle India, have reported their Q4 performance. As the market eagerly anticipates further disclosures, companies like Bharat Petroleum, Trent, Ambuja Cements, and Bajaj Finance are set to share their results today.
Q4 Growth Projections
Recent insights from Nuvama indicate that the top-line growth for Q4FY25 is forecasted at 6% for its coverage universe, excluding oil marketing companies (OMCs). This marks a decrease from 8% year-over-year in Q3FY25, continuing a trend of below 10% growth for the eighth consecutive quarter. Notably, the subdued performance in FY24 and FY25 reflects different market dynamics:
- FY24 saw a decline in exports and low-end consumption.
- FY25 has been affected by slowdowns in the banking, financial services, and insurance (BFSI) sector, along with reduced discretionary spending and capital expenditure.
Sector-wise expectations for top-line growth are as follows:
- Strong Growth (>15% YoY): EMS, internet, NBFCs, quick-service restaurants (QSR), consumer services.
- Moderate Growth (10-15% YoY): Durables, FMCG, pharma, retail, industrials, non-lending financials.
- Weak Growth (<10% YoY): IT, banks, metals, energy, paints, cement.
In summary, Nifty 50 earnings are projected to experience a modest 2% YoY increase in Q4FY25.
UltraTech Cement’s Expansion Plans
As part of today’s updates, UltraTech Cement is on track to expand its capacity significantly. Following the acquisition of India Cement’s assets, the company’s total grinding capacity in India has reached 183 million tonnes per annum (mtpa). Plans are in place to add 12 mtpa in FY26 and another 15 mtpa in FY27, which will elevate its manufacturing capacity to 209 mtpa, including Kesoram’s 10.8 mtpa.
According to Axis Securities, this expansion will help UltraTech reinforce its leadership in the market, aiming to increase its market share from 25% to 28%. The firm anticipates an 11% CAGR in volume growth from FY24 to FY27, driven by robust demand in infrastructure and housing projects.
TVS Motor Company’s Steady Growth
TVS Motor Company has also reported promising developments. The company has significantly improved its EBITDA margins, reaching 12.5% in Q4FY25, up from 6% in FY15. The management is focused on sustaining this growth trajectory by enhancing product offerings and optimizing costs.
The firm expects to outpace industry growth, driven by its premium two-wheeler models and electric vehicles (EVs). Sales volume is expected to grow at an 11% CAGR over the next two years.
Macrotech Developers’ Strong Performance
Macrotech Developers is witnessing a positive outlook as well. With an embedded EBITDA margin of 33%, the company is capitalizing on high-value markets in South and Central Mumbai. The firm anticipates Rs 210 billion in presales for FY26, representing a 20% YoY increase. This optimism is bolstered by strong demand for premium products and ongoing business development opportunities.
Key Company Announcements Today
Today’s earnings reports will include a diverse range of companies such as:
- Trent
- Bharat Petroleum Corporation
- Ambuja Cements
- Bajaj Finance
- Schaeffler India
- Vishal Mega Mart
- Punjab and Sind Bank
- Shoppers Stop
- Indiamart Intermesh
- Ceat
These announcements are set to provide further insights into the fiscal health of various sectors as the earnings season unfolds.
Stay Updated
The earnings season is an exciting time for investors and analysts alike, and we’ll keep you informed of all critical updates and management commentary. For continued coverage, be sure to follow our live blog as we navigate through this season of financial disclosures.
