Q1 Results 2024: With many majors like Tata Consultancy Services (TCS), HCL Technologies, Infosys, Wipro, Tech Mahindra, Infosys, Jio Financial Services, Nestle India, HUL, Nestle, Adani Wilmar, Reliance Industries, IOCL, HPCL, GAIL India, HDFC Bank, SBI, Axis Bank, SpiceJet, L&T, Paytm, CEAT, DLF, M&M, Tata Motors, MAruti Suzuki, and many others already having released their Q1 results, the first quarter earnings season is now in full swing.
Today, Bharti Airtel, ONGC, Marico, Tata Chemicals, Devyani International, Century Plyboards, Schneider Electric Infrastructure, Orient Cement, V-Mart Retail, Hawkins Cooker, SMS Pharmaceuticals, Monte Carlo Fashions, Triveni Turbine, Tata Chemicals, Honeywell Automation, and many others will report their first quarter results.
This week too will be in focus with market participants and investors keen on the performance of players like Vedanta, TVS Motor Company, Fortis Healthcare, Godrej Consumer Products, Apollo Tyres, Dr Lal PathLabs, BSE Limited, LIC, Eicher Motors, Biocon, MRF, among many others.
Swarnendu Bhushan, Co. Head of Research – Institutional Equities PL Capital, Prabhudas Lilladher, said, “As per the recent data released by MoPNG, upstream companies have been showing a mixed trend in production. While ONGC continues to experience a decline in its production, a stark contrast can be seen in Oil India (OINL) which has shown significant improvement in both oil and gas output. This positive momentum reflects Oil India’s robust growth potential guidance of reaching 4mmt of oil and 5bcm of gas by FY26E. Thus, we reiterate our positive outlook on Oil India with a ‘Buy’ rating and a TP of Rs722 based on 11x FY26 adj standalone EPS and adding the value of investments. Change in FY26 estimates is due to rise in gas realization. For ONGC, change in FY25 estimates is due to cut in volume estimates, while growth in FY26 is due to rise in gas realization.”
Amnish Aggarwal, Director Research PL Capital, Prabhudas Lilladher, said, “We Cut FY26 EPS estimates by 2.9% due to tax guidance of 10-11% and higher amortization. Emami has shown 8.7% volume growth backed by strong growth from summer portfolio even as Kesh King, male grooming (ex Man Company) and Pain management reported decline in sales. New age business (The Man Company and Brillare) have achieved 23% sales growth while Man Company has achieved EBIDTA breakeven. Emami is also promoting Digital First launches on Zanducare, which will boost healthcare portfolio and improve sales mix. Near term outlook seems positive on expected revival in rural demand, favorable seasonality and benign raw material prices. Emami is witnessing positive recovery in GT in both rural and Urban India while MT/ Ecom have sustained strong growth.”
Today, companies like Bharti Airtel, ONGC, Marico, Tata Chemicals, Devyani International, Century Plyboards, Schneider Electric Infrastructure, Orient Cement, V-Mart Retail, Hawkins Cooker, SMS Pharmaceuticals, Monte Carlo Fashions, Triveni Turbine, Tata Chemicals, Honeywell Automation, will report their Q1 results today.
With so many major companies including TCS, HCL Technologies, Infosys, Wipro, Tech Mahindra, Infosys, Nestle India, HUL, Nestle, Adani Wilmar, Reliance Industries, IOCL, SBI, Axis Bank, M&M, Tata Motors, Maruti Suzuki, and others already having released their Q1 results, the first quarter earnings season is now in full swing. We, through this live blog, have been bringing all the latest updates on the Q1 performance by India Inc and will continue to bring in the details of what helped and what didn’t in making Q1 a profit making or a loss making quarter for companies.