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Indian stock markets are set for a day of potential volatility as 23 major companies, including Axis Bank, Hindustan Unilever (HUL), and LTIMindtree, are scheduled to release their financial results for the fourth quarter of fiscal year 2024. Investors and analysts are keenly watching these earnings reports for insights into the companies' performance and future outlook.
The Indian stock market is bracing for a busy day as a total of 23 companies are slated to announce their Q4 FY24 earnings on April 24. Among the key players in this earnings season are Axis Bank, AU Small Finance Bank, Hindustan Unilever (HUL), and LTIMindtree, whose results are expected to significantly influence market sentiment.
In addition to the aforementioned giants, other notable companies including 5Paisa Capital, Chennai Petroleum Corporation, Dalmia Bharat, DCB Bank, Dhampur Bio Organics, Equitas Small Finance Bank, India Hotels, Lodha, and Maharashtra Scooters are also set to unveil their Q4 performances.
Adding to the extensive list, Anant Raj, Agro Tech Foods, PNGS Gargi Fashion Jewellery, Harshdeep Hortico, MAS Financial Services, Nippon Life India Asset Management, Oracle Financial Services Software, Supreme Petrochem, and Syngene International are also scheduled to report their Q4FY24 earnings during the day.
Market analysts predict that the share prices of these 23 companies will likely react to their Q4 results. Here's a preview of what to expect from some of the top companies:
Hindustan Unilever (HUL): The FMCG behemoth is anticipated to report modest earnings growth for the March quarter. Net profit is projected to increase by 2.71% year-over-year to ₹2,538 crore, up from ₹2,471 crore. Revenue is expected to rise by 1.16% to ₹15,067 crore, compared to ₹14,893 crore in the previous year, according to average estimates from five brokerages. Volume growth for HUL is estimated at 3% for the quarter. Operating level EBITDA is likely to increase by 0.60% year-over-year to ₹3,492 crore, with EBITDA margin remaining relatively stable at 23.2%.
Axis Bank: The banking major is expected to witness a 6.5% year-over-year decline in net profit, falling to ₹6,322.7 crore from ₹6,761.4 crore. Net Interest Income (NII) is projected to grow by 10.3% to ₹12,955 crore, while Net Interest Margin (NIM) is likely to decrease by 11 basis points quarter-over-quarter to 3.95% due to rising cost of funds. Prabhudas Lilladher estimates suggest that PPoP will remain stable due to controlled opex, provision costs will remain muted at 37 bps, and loan growth could reach 4.3% QoQ.
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