Indian stock markets are bracing for a significant influx of corporate earnings as more than 500 companies prepare to announce their second-quarter financial results for the fiscal year 2025-26 on Wednesday, November 12. This massive earnings declaration forms part of an even larger weekly trend, with over 2,500 companies scheduled to reveal their Q2 FY26 performance.
Market Giants Lead Earnings Charge
Among the prominent names set to declare their results are Hindustan Aeronautics, Tata Steel, IRCTC, Ashok Leyland, Honasa Consumer, Info Edge, Cochin Shipyard, and Asian Paints. This diverse group represents key sectors including defense, manufacturing, consumer goods, and tourism, offering comprehensive insights into India's economic health.
Ajit Mishra, SVP — Research at Religare Broking Ltd, emphasized the importance of this earnings season, stating: "The ongoing Q2FY26 results season will continue to shape market direction, with several major companies scheduled to release their financials. These results will provide a clearer picture of sectoral trends and corporate profitability ahead of the festive quarter."
Key Company Performance Expectations
Tata Steel Shows Recovery Signs
Tata Steel is projected to demonstrate a substantial profit recovery for the September quarter, primarily driven by reduced input costs and higher domestic sales volumes. This positive trend emerges despite continued weakness in global steel prices that have affected the industry.
According to Kotak Institutional Equities analysis, the company's standalone volumes are expected to show impressive growth—increasing 9% year-on-year and 17% quarter-on-quarter to reach 5.6 million tonnes. This surge is supported by a strong rebound in domestic demand following the monsoon-affected first quarter.
The brokerage estimates India EBITDA per tonne at ₹14,407, representing a 3.6% sequential decline but a notable 20% year-on-year improvement. This performance reflects how lower realizations are being partially balanced by reduced coking coal costs and other operational efficiencies.
Hindustan Aeronautics Maintains Strong Momentum
Defense sector leader Hindustan Aeronautics is anticipated to report robust Q2FY26 results, with brokerage firm Choice Broking forecasting revenue growth of 36% quarter-on-quarter and 10% year-on-year. This impressive performance is attributed to accelerated deliveries in fighter aircraft and helicopters, combined with steady execution in the Maintenance, Repair, and Overhaul (MRO) segment.
The company's EBITDA is likely to surge 40% quarter-on-quarter, with margins improving slightly to 27.4% due to better operating leverage and execution mix. Profit After Tax (PAT) is estimated to grow 24% quarter-on-quarter and 13% year-on-year, supported by an improved product mix that enhances profitability.
Comprehensive List of Declaring Companies
The earnings declaration includes a wide spectrum of companies across various sectors. Notable names beyond the marquee companies include Prestige Estates Projects, Lloyds Metals and Energy, General Insurance Corporation of India, Endurance Technologies, Deepak Nitrite, Pfizer, and multiple other significant players in the Indian corporate landscape.
This extensive list covers industries ranging from infrastructure and healthcare to consumer goods and technology, providing investors with a holistic view of corporate India's performance during the July-September quarter of fiscal year 2025-26.
