Q4 Results Highlights: Shriram Finance profit up 9.95%, NII at Rs 5,565.5 cr; Maruti Suzuki profit drops by 1.04%

In FY2024-25, Maruti Suzuki recorded its highest ever annual total sales and exports. The company continued to be the top exporter for the 4th consecutive year, now contributing nearly 43% of total passenger vehicle exports from India.

In a regulatory filing, it said, “This year, the domestic market growth was quite muted. For the company, a modest domestic sales growth of 2.7 per cent was compensated by a healthy 17.5 per cent export growth leading to an aggregate growth of 4.6 per cent for the year.”

The company board recommended a final dividend aggregating Rs 42,444 million i.e. Rs 135 per share (nominal value Rs 5 per share) (Previous Year Rs 39,300 million i.e. Rs 125 per share) for the financial year 2024-25. “The dividend on equity shares for the year ended 31st March 2025, if declared at the ensuing Annual General Meeting, will be paid to the Members as at the close of business hours on Friday, the 1st August 2025 (Record Date). The date of payment of dividend is 3rd September 2025,” Maruti Suzuki said in a regulatory filing.

Maruti Suzuki on Friday released its fiscal fourth quarter earnings report with profit at Rs 3911.10 crore, down 1.04 per cent in comparison to Rs 3952.30 crore recorded during the corresponding quarter of FY24. It posted revenue from operations at Rs 40,920.10 crore, posting a growth of 6.37 per cent in comparison to Rs 38471.20 crore recorded during the fourth quarter of previous financial year.

The company board has recommended an equity dividend (final) of 50 per cent for Financial Year 2024-2025, i.e, Rs 5 per equity share of face value Rs 10 each on the paid up share capital, subject to the approval of shareholders at the ensuing Annual general meeting of the company. “The final dividend would be paid within 30 days from the date of declaration at the AGM. The record date for payment of final dividend would be intimated in due course,” it said in a regulatory filing.

Chennai Petroleum Corporation Ltd on Friday released its fiscal fourth quarter earnings report with profit at Rs 469.93 crore, recording a drop of 25.16 per cent in comparison to Rs 627.89 crore reported during the corresponding quarter of FY24. It posted revenue from operations at Rs 20,580.65 crore, down 1.16 per cent as against Rs 20,822.96 crore reported during the same period of previous financial year.

ICICI Securities said, “Management mentioned clients have become cautious and there is slight delay in conversion of pipeline to TCV. We note FY25 TCV/ACV grew 15%/13% YoY, tad lower than ~16% revenue CAGR (FY25-27) required to reach $2bn revenue run rate by FY27. However, management is confident of delivering industry-leading growth despite tough macros led by focusing on growing the deal pipeline and pivoting to high growth areas.”

The brokerage firm further maintained that the IT firm expects FY26 growth to be led by BFSI and technology followed by healthcare. It is investing in sales to increase its large deal pipeline in order to maintain TCV and revenue growth momentum.

The company board recommended a dividend of Re 0.50 per equity share for the financial year ended March 31, 2025.

Oriental Hotels Ltd on Friday released its fiscal fourth quarter earnings report with profit at Rs 17.87 crore, posting a growth of 8.30 per cent in comparison to Rs 16.50 crore recorded during the corresponding quarter of FY24. It posted revenue from operations at Rs 132.53 crore, up 23.31 per cent as against Rs 107.48 crore recorded during the same period of previous financial year.

Elara Securities said, “Hindustan Unilever’s Q4 performance underscored the impact of rising competition in the home care segment, leading to a cut in EBITDA margin guidance, in line with our expectations. We believe an improving demand environment is built in the estimate and key risk to P/E multiple remains that of rising competitive intensity if there were to be any delay in demand recovery.”

“We cut FY26E/27E earnings estimates by 4.1%/3.6% to factor in lower sales growth and lower EBITDA margin,” it added.

Yes Securities said, “We see regional benefits in the near term, i.e., stable pricing in DALBHARA’s key markets, especially in the South and East. We expect the industry to witness price discipline in the southern region, led by the entry of larger players. The recently added capacity (4.9 MTPA in FY25) is expected to contribute to volumes from FY26E onwards. A new expansion of 6 MTPA cement and 3.9 MTPA clinker is expected to be commissioned by FY27E, likely catering to domestic as well as neighboring states (i.e., Central and Western India). We project ~66%/67% capacity utilization in FY26E/FY27E, backed by pent-up demand from FY25 and an uptick in govt demand from Q2FY26E. The near-term target to achieve Rs 150–200/tn cost savings has already started reflecting in DALBHARA’s numbers, and we expect the full impact within 1–2 years.”

Nestle delivered mixed Q4 – instant noodles sales revived but milk nutrition sales were weak. Volume growth was better than in Q3 but in low single-digit due to subdued urban demand and high inflation impacting consumption. In an analysis report, Elara Securities said, “We largely maintain our FY26E and FY27E earnings estimates and introduce FY28E estimates but we downgrade Nestle to Sell from Reduce as the stock has rallied by 10% in the past three months and Nestle is trading at high valuation of 65x P/E despite muted demand environment. We maintain our TP at Rs 2,200, based on 60x (unchanged) FY27 P/E.”

Key upside risk is strong revival in milk and nutrition business.

Yes Securities said, “New business APE for Q4FY25 de-grew/grew -21.5%/2.3% QoQ/YoY. Total APE for FY25 was up by 9% YoY to Rs 214.2 bn where Individual APE was up by 12% YoY to Rs 195.9 bn. Going forward, the management has guided that on an individual APE basis it will grow by 13-14%, which is slightly ahead of the expected growth for the total industry at 12%. The SBI branch productivity on individual APE terms was Rs 5.4mn, up 9% YoY. The banca channel, which grew 8% for the year FY25, is expected to grow at 10% or at low double digits for FY26. The agent productivity was at Rs 0.29mn on individual NBP for FY25, up 20% YoY. The management has guided that there will be continued focus on the agency channel and it is expected to grow at 25% YoY.”

In Q4FY25, ACC Ltd achieved a 14% YoY increase in volume, reaching 11.90 mtpa, driven by higher trade volumes and a 7% YoY increase in premium product volumes, further strengthening its market leadership. It maintained its dominant position across key markets. Axis Securities said, “Based on the growth trends observed in Q3 and Q4FY25, cement demand during FY26 is projected to continue benefiting from the momentum gained by government spending on infrastructure and construction activities. The growth is anticipated to range between 7% and 8% for the coming fiscal year, driven by ongoing consumption demand in the housing and infrastructure segments and the favourable impact of the pro-infra and housing Budget 2025.”

Axis Bank posted lower growth over the past quarters, given unfavourable liquidity conditions, and striving to source quality deposits at optimal cost. InCred Equities said, “Management is now comfortable with the current capital level for future growth. Management indicated that the bank is well-positioned for delivering growth and profitability if the liquidity situation remains comfortable. We believe Axis Bank is well-placed to post volume growth in an easing interest cycle. Credit costs will remain elevated in FY26 (vs. FY25) owing to stringent norms on certain asset classifications.”

Axis Bank released its fiscal fourth quarter earnings report on April 14 wherein it reported profit at Rs 7,117.50 crore, marginally lower than Rs 7,129.67 crore recorded during the corresponding quarter of FY24.

ICICI Securities said, “Axis acknowledged easing systemic liquidity and performance of new vintage, but did not provide quantitative guidance on growth or credit costs. There is a slight change in commentary on the normalisation of stress in personal loan and credit cards. In the current rate cycle (FY22–25), Axis has registered relatively slower deposits growth (~12.6% CAGR), prioritising quality (improvement in run-off rates, contained dip in CASA share) and pricing (modest rise in cost of funding).”

Nestle, on April 24, reported revenue growth of 4.5% yoy to Rs 55bn in Q4FY25, in line with estimates. Domestic sales grew by 4.2% yoy led by improving volume growth and double-digit growth in beverages & confectionery. InCred Equities said, “Nestle’s ability to improve volume growth and drive a sustainable recovery in urban markets remains a key monitorable. We retain our HOLD rating on Nestle with a new target price of Rs 2,485 (60x FY27F EPS) as we roll forward. Downside/upside risks: Slower/faster than-expected sales growth.”

ICICI Securities, in an analysis report, said, “TechM’s turnaround efforts are yielding results with its BFSI portfolio strengthening, large logo additions, a stronger deal TCV run-rate and improvement in margins. Strong new deal TCV growth of 42.6% YoY provides some comfort on FY26 growth outlook. However, the tough macro environment may delay ramp-up of existing deals and elongate the pipeline of TCV conversion cycles. Its two largest verticals – communication and manufacturing (~50% of revenue) – are impacted by industry-specific headwinds and weak macro.”

The IT firm announced its Q4 results on April 24 with profit at Rs 1166.70 crore, posting a jump of 76.51 per cent in comparison YoY.

Axis Bank released its Q4FY25 results on April 24, in-line with expectations. An analysis report by Motilal Oswal Financial Services Limited stated, “Asset quality improved slightly as slippages were under control, while the GNPA/NNPA ratio improved sequentially. Deposits grew 7 per cent QoQ, while advances grew 3 per cent QoQ, leading to an improvement in the C/D ratio to 88.7 per cent. Average LCR stood at 118 per cent. Some stabilization was seen in the credit card portfolio; however, the bank is becoming more stringent in classifying loans, which could affect slippages going forward. Additionally, given the rate cut, margins are expected to remain under check.”

HUL released its Q4 numbers yesterday wherein volume grew by 1.5 per cent YoY. Price hikes remained low at 2.7 per cent YoY despite high RM prices.

In an analysis report, HUL said, “E-com now contributes to 8.5 per cent of sales (higher than other consumer companies) and continues to grow largely driven by quick commerce. The Out-of-Home business maintained its strong double-digit growth momentum, and has also forayed into the ‘cocoa-based spreads category’ with the launch of KITKAT Professional Spread. Decline of Maggi in North America and impacted coffee exports due to headwinds in green coffee led to a decline in exports. However, the company continues to expand its footprint into new markets.”

Today, companies including Maruti Suzuki India, Shriram Finance, Motilal Oswal Financial Services, Tata Technologies, RBL Bank, Orient Electric Limited, Hindustan Zinc, Bank of Maharashtra, Dr Lal PathLabs, Force Motors, Mahindra Holidays and Resorts India, DCB Bank, and several others are lined up to announce their Q4 results.

Greetings! The fiscal fourth quarter earnings season has kickstarted with some of the major companies across sectors announcing their results for Q4. We, at FinancialExpress.com, through this live blog, are continuously bringing you all the updates on the key numbers and announcements by these companies, and will continue to do so throughout the earnings season. Stay tuned.