Final Wave of Q2 FY26 Earnings Hits Dalal Street
The second-quarter earnings season for fiscal year 2025-26 reaches its climax today, November 14, with more than 900 companies scheduled to release their financial results. This marks one of the most significant reporting days of the season, coming after an already packed week where over 2,500 companies declared their quarterly performance.
Major Companies Leading Today's Earnings Announcements
Among the prominent names set to declare their Q2 FY26 results are Tata Motors Passenger Vehicles, Marico, Oil India, MRF, Max Healthcare Institute, and Inox Wind. The extensive list includes companies across various sectors, providing a comprehensive view of India's corporate health ahead of the crucial festive quarter.
Ajit Mishra, SVP — Research at Religare Broking Ltd, emphasized the importance of these results, 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."
Brokerage Previews Highlight Mixed Expectations
Brokerage firms have released their expectations for key companies, revealing a mixed outlook across sectors. According to Elara Capital, Oil India's September quarter earnings may decline by 30% in EBITDA due to falling crude oil prices and reduced competitiveness of gas/LNG compared to crude oil.
The brokerage noted: "Oil India's (OINL) EBITDA may fall 30% YoY due to lower realisation for oil. OINL's crude oil production may drop by 3% YoY, and gas production may be flat YoY." This reflects the challenges facing the energy sector amid volatile global commodity prices.
In contrast, the healthcare sector shows stronger prospects. Choice Broking anticipates Max Healthcare will deliver robust performance with profit after tax (PAT) likely rising 16.5% year-on-year and revenue surging 24%. The brokerage attributes this expected growth to "favourable case-mix shift towards high-speciality therapies, strong volume growth and aggressive expansion strategy."
Consumer Goods Sector Shows Steady Momentum
Marico's domestic business demonstrated steady momentum during July-August, though it experienced temporary disruptions in trade channels and CSD ahead of new GST rate implementation in September. Motilal Oswal projects 28% consolidated revenue growth and approximately 6% domestic volume growth for the FMCG major.
The brokerage added: "The high pricing contribution is driven largely by price hikes in Parachute. Gross margins expected to contract 560bp YoY to 45.2% given high base and rise in RM prices. Operating margins are expected to contract 330bp YoY to 16.3%."
Today's earnings declarations will provide critical insights for investors assessing sectoral performance and market trends as India approaches the important festive season. The broad spectrum of companies reporting—from automotive to healthcare, FMCG to energy—will offer a comprehensive picture of India's economic trajectory.
