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* Alkem Lab (ALKEM): 4Q Net Income decreased by 23% year-over-year to INR 2.36 billion, missing estimates.
* Ashok Leyland (AL): 4Q Net Income increased by 12% year-over-year to INR 14.04 billion, matching estimates.
* Bata India (BATA): 4Q Net Income decreased by 95% year-over-year to INR 22.1 million, missing estimates.
* Enviro Infra (EIEL): Secured an order worth INR 2.07 billion for a hybrid renewable energy project.
* GAIL India (GAIL): Acquired cargo for June delivery within the mid-$17 range as part of an LNG tender.
* GMR Airports (GMRAIRPO): Reported a 4Q Net Income of INR 3.02 billion, contrasting a loss of INR 2.38 billion year-over-year.
* HCL Technologies (HCLT): Launched an Autonomous Finance platform designed for Gemini Enterprise.
* IDFC First Bank (IDFCFB): Secured INR 5.15 billion for a microfinance-related claim.
* Indian Oil Corp. (IOCL): Acquired a shipment for June delivery via an LNG tender.
* JSW Steel (JSTL): Initiated development of a 13.2 million tons per year Paradeep plant.
* Lupin (LPC): Confirmed that its Ankleshwar facility received an Establishment Inspection Report from the U.S. FDA.
* Oil India (OINL): Signed a joint venture agreement with Hindustan Waste for bioenergy and sustainable resource recovery.
* P&G Hygiene (PG): Reported a 4Q Net Income of INR 1.53 billion compared to INR 1.56 billion year-over-year.
* Sanstar (SANSTAR): Ingredion acquired a 9% equity stake in Sanstar, entering into joint venture.
* Tata Consultancy (TCS): Partnered with Mistral to build AI models for enterprises.
* Tata Elxsi (TELX): Launched a healthcare AI development platform.
* Varroc Engineering (VARROC): Approved raising INR 5 billion via bonds.
* Wipro (WPRO): Expanded the ServiceNow partnership to embed Agentic AI workflows.
* Wockhardt (WPL): Received regulatory approval in India to import and market Zaynich.
* Zydus Lifesciences (ZYDUSLIF): Increased buyback price to INR 1,260 per share.
* Aegis Logistics Ltd. (AEGISLOG IN): 4Q net income projected at INR 2.36 billion (5 analysts).
* Asian Paints Ltd. (APNT IN): 4Q net income forecasted at INR 10.4 billion (21 analysts).
* BEML Ltd. (BEML IN): No data reported.
* Concord Biotech Ltd. (CONCORDB IN): No data reported.
* Glenmark Pharmaceuticals Ltd. (GNP IN): 4Q net income estimated at INR 5.2 billion (5 analysts).
* Inox Wind Ltd. (INXW IN): No data reported.
* InterGlobe Aviation Ltd. (INDIGO IN): 4Q net income anticipated at INR 18.7 billion (6 analysts).
* IPCA Laboratories Ltd. (IPCA IN): 4Q net income estimated at INR 2.61 billion (11 analysts).
* JM Financial Ltd. (JM IN): No data reported.
* Jyoti CNC Automation Ltd. (JYOTICNC IN): No data reported.
* NMDC Ltd. (NMDC IN): 4Q net income projected at INR 22.2 billion (5 analysts).
* NMDC Steel Ltd. (NSLNISP IN): No data reported.
* Natco Pharma Ltd. (NTCPH IN): 4Q net income forecasted at INR 1.65 billion (6 analysts).
* Olectra Greentech Ltd. (OLECTRA IN): No data reported.
* Swan Corp. (SWANCORP IN): No data reported.
Revenue for the quarter grew by 16.7% year-over-year to Rs 2,068 million; however, it was below the estimated Rs 2,154 million largely due to growth across its ETS and CCR divisions.
Gross margins contracted by 176 basis points year-over-year (an increase of 43 basis points quarter-over-quarter) to 26.7%, falling short of the estimated 27%. Operating margins for the quarter declined by 325 basis points year-over-year (an increase of 35 basis points quarter-over-quarter) to 11.7%, below the estimated 12.2% due to lower gross profit and higher employee costs (+176 basis points year-over-year).
EBITDA for the quarter decreased by 8.7% year-over-year (an increase of 3.4% quarter-over-quarter) to Rs 242 million, again attributed to lower gross profit and increased employee costs.
Net profit for the quarter declined by 12.9% year-over-year (an increase of 12.9% quarter-over-quarter) to Rs 157 million, slightly below the estimated Rs 161 million.
The analysis suggests the company’s performance was affected by ongoing conflicts in West Asia and related disruptions. However, the long-term outlook remains positive due to the increasing establishment of GCCs in India, coupled with rising corporate hiring and the expansion of organized mobility solutions.
As of 09:28 AM on May 28, 2026, new alerts can be set through www.researchbytes.com. Key events for the day include multiple analyst meetings starting from 9:00 AM with Ceat and KEC International.
Noteworthy is a conference call with Supriya Life at 11:00 AM and Stanley Lifestyles, likewise at 11:00 AM, both available via specific dialing numbers and links for the web conference.
For Q4FY26, consolidated revenue reached Rs 3,958 million, reflecting a 7.6% year-over-year growth but 2.4% below estimates.
EBITDA was reported at Rs 628 million, down 4.5% year-over-year and 17.1% quarter-over-quarter, indicating a significant 22.6% miss against estimates, primarily due to a decline in gross margin and a 29% increase in employee costs.
EBITDA margin stood at 15.9%, a drop of 202 basis points year-over-year and 413 basis points quarter-over-quarter, falling short of expectations by 415 basis points. Adjusting for recent ESOPs issued to employees, the decline would have been 120 basis points year-over-year and 330 basis points quarter-over-quarter.
Net profit for the quarter was Rs 592 million, a decrease of 10.1% year-over-year and an increase of 12.5% quarter-over-quarter, which was 4.8% above estimates owing to gains from land sales offset partially by charges related to labor laws.
For FY26, ESAB reported a revenue of Rs 15,082 million, reflecting a year-over-year increase of 9.8%.
EBITDA for FY26 reached Rs 2,698 million, growing by 10.3% year-over-year, and the EBITDA margin stood at 17.9%, reflecting a marginal increase of 9 basis points year-over-year.
Net profit for the fiscal year was Rs 2,610 million, marking a 6.3% increase year-over-year. Despite the quarter’s weaker performance mainly attributed to rising employee costs, the company has adjusted product prices between Q4FY26 and Q1FY27, although volume growth might have been impacted due to lower infrastructure activity and elections.
Aequs Limited, under the leadership of Chairman and CEO Aravind Melligeri, addressed a weaker Q4, expecting its consumer electronics business to reach EBITDA break-even by Q4FY27.
Additionally, Aequs is poised for growth due to an aerospace boom and consumer scale-up.
These insights were elaborated in a series of interviews available at noted online video platforms.
The company reported revenue of Rs 2.7 billion for Q4FY26, demonstrating a growth of 20.8% year-over-year and 4.6% quarter-over-quarter, although it fell short of estimates of Rs 3.3 billion.
EBITDA reached Rs 545 million for the quarter, growing by 90% year-over-year and 15.4% quarter-over-quarter, closely aligning with the estimated Rs 550 million. EBITDA margins stood at 20%, exceeding the estimated 16.7%.
Net profit for Q4FY26 was reported at Rs 428 million, indicating a substantial growth of 173% year-over-year and 19.4% quarter-over-quarter, surpassing the estimate of Rs 388 million due to higher other income.
The overall outlook indicates a strong performance, although revenue growth did not meet expectations primarily due to fewer large deal closures. Margins exceeded forecasts due to higher average selling prices and robust enterprise demand. Recorded cash collections demonstrated a positive trend, with cash flow from operations at Rs 1 billion compared to Rs 0.4 billion in FY25, significantly improving net working capital to 30 days from 43 days, while the cybersecurity segment showcased a healthy growth rate of 27.6% year-over-year, with steady annuity income at 42.2%.
