Q4 Result 2025: The fiscal fourth quarter earnings season is now in full swing with a number of large cap and other companies already having released their Q4 results. IT giants like Tata Consultancy Services (TCS), Infosys, Wipro, HCL Tech, Tech Mahindra, and other major firms including Reliance Industries, Paytm, Vedanta, Zomato, SBI, HDFC Bank, Maruti Suzuki India, M&M, HUL, Nestle India, Marico, BPCL, HPCL, IOCL, Piramal Enterprises, Dr Lal PathLabs, UltraTech Cement, among others, have released their Q4 numbers.
Today, major companies like Coal India, Dabur India, APL Apollo Tubes, Blue Star, United Breweries, Voltas, Tata Chemicals, Sonata Software, Sapphire Foods India, Symphony, Punjab National Bank, MRF, Niva Bupa Health Insurance Company, Wonderla Holidays, Somany Ceramics, Man Industries (India), among a few others are queued up to release their quarter performance report.
According to an analysis report by Nuvama, Nifty 50 earnings are anticipated to grow 2 per cent YoY in Q4FY25. “Based on our earnings preview, FY25E Nifty EPS is likely to grow 6 per cent—much lower than 8 per cent forecasted a quarter back. Furthermore, global uncertainties have increased substantially following the imposition of Trump tariffs. Note that while the direct impact of US tariffs is limited, the indirect impact is likely to be sweeping given ~2/3 of Nifty top line is directly or indirectly linked to global trade. A weak top line along with peak margins poses risks to mid-teens earnings growth for FY26E/27E,” it said.
Indraprastha Gas Q4 Results 2025 Live Updates: Weak volume growth continues, says Elara Securities
During FY26, Elara Securities said, “We expect PAT to grow +20% YoY due to the effect of delay in compressed natural gas (CNG) price hike amid rising gas cost and INR weakening. However, we remain cautious on the CGD sector as margin pressure is likely to remerge due to fall in APM gas supply and rising dependence on oil-linked NWG gas. We raise our TP to Rs 210 due to normalization of EBITDA/scm margin with reduction in gas cost on INR strengthening in Q1FY26 and subdued crude oil prices at below USD 70/bb) that would keep oil-linked gas cost, such as NWG, high-pressure & high temperature (HPHT) and contracted LNG.”
The company’s growth plans took a hit, due to the sudden cut in APM allocation. Management has set a target of 10% volume growth in FY26. It says EBITDA/scm margin is likely to be Rs 6-7/scm for the next 1-2 quarters and reiterated Rs 7-8/scm guidance for long term.
Kansai Nerolac Paints Q4 Results 2025 Live Updates: ICICI Securities on company performance
ICICI Securities said, “There is a slowdown in automotive production, but Kansai was able to gain market share and has grown ahead of the market in automotive coatings. Performance coatings have also done well with a strong order book. Considering there is steep competitive pressure in decorative, we like Kansai’s strategy to focus on market share gains in industrial coatings. We believe KNPL is likely to be relatively protected from steep competitive pressures in decorative paints, as it generates ~45% of its revenue from industrial coatings.”
Vardhman Textiles Q4 Results 2025 Live Updates: Textile segment buoys Q4, says Elara Securities
Elara Securities said, “Vardhman Textiles’ (VTEX IN) Q4 revenue was largely in-line, while EBITDA missed our estimates by 15.3%, due to higher-than-expected other expenses. PAT came in 6.1% higher than our estimates due to higher other income and lower interest cost and tax rate. Indian cotton continues to remain more expensive than international cotton, impacting the profitability of spinners such as VTEX. Its synthetic fabric and existing products fabric plant is expected to be complete by Q2FY26, which should drive growth in FY27. We pare our FY26E earnings estimates by 7.8% (given near-term pressure on margin) and FY27E estimates by 5.0%. We also introduce FY28E earnings.”
Paytm Q4 Results 2025 Live Updates: JM Financial on company performance
Paytm reported Rs 19.1bn revenue (+5% QoQ) driven by Rs 700mn benefit from UPI incentive. Even excluding incentive, the company reported 1% sequential growth, despite Q4 being a seasonally weak quarter. While Payments GMV remained flat QoQ, strong growth of c.9% in Financial Services (via merchant loans) drove the uptick. Marketing services revenue remained flattish sequentially considering seasonal peak in Q3. Higher mix of Financial Services revenue led to contribution margin (CM) expansion of 200bps QoQ (excluding UPI incentive).
PAT losses narrowed to Rs 224mn after adjusting for one-off expense of Rs 5.2bn on account of cancellation of ESOPs voluntarily forgone by the CEO. JM Financial said, “With headwinds behind and Adjusted EBITDA profitability achieved, we forecast Paytm to sustain the momentum while continuing to be highly disciplined on costs. While our revenue estimates remain unchanged and the impact of lower UPI incentives gets compensated by limited rise in indirect expenses, the drop in ESOP expenses will still result in a sharp jump in PAT profitability. We also expect Paytm to benefit from virtuous network effects, deserving of a platform, to deliver sharp margin expansion.”
Q4 Results 2025 Live Updates: Key results announcements
Companies including Coal India, Dabur India, APL Apollo Tubes, Blue Star, United Breweries, Voltas, Tata Chemicals, Sonata Software, Sapphire Foods India, Symphony, Punjab National Bank, MRF, Niva Bupa Health Insurance Company, Wonderla Holidays, Somany Ceramics, Man Industries (India), among a few others are queued up to release their Q4 numbers today
Q4 Results 2025 Live Updates: Welcome to the live blog!
Greetings! The fiscal fourth quarter earnings season has started and many companies across sectors have already released their Q4 numbers. We, at FinancialExpress.com, are continuously bringing you all the updates on the key numbers and announcements being made by the companies. Going forward as well, we will continue to do so going forward as other majors are lined up to release their Q4 numbers. Stay tuned.