As the Q3 results season begins, India Inc is positioned to report its strongest earnings growth in two years, with Motilal Oswal expecting 16% year-on-year profit growth for companies within its coverage universe. However, the earnings recovery story remains uneven across sectors, with several companies facing significant headwinds.

Sector-wise Performance Outlook

While the overall earnings picture appears positive, solid recovery may remain elusive for exporters, chemicals, pharma, IT, BFSI, FMCG and EMS sectors. Analysis by Nuvama, Kotak Institutional Equities, and Motilal Oswal reveals at least nine companies are likely to report profit declines of 50% or more year-on-year in the October-December quarter.

Banking Sector Challenges

IndusInd Bank is expected to witness the steepest decline among the identified companies:

The private sector lender continues to grapple with asset quality pressures and provisions that have weighed heavily on its bottom line.

Chemical and Textile Sector Stress

PI Industries faces significant challenges in the specialty chemicals space, with profit expected to decline between 69% and 80% year-on-year. The agrochemicals major is experiencing headwinds from weak pricing in key molecules, particularly following profit warnings from its Japanese partner Kumiai Chemicals regarding Pyroxasulfone, one of its flagship products.

The textile sector shows severe stress, with Welspun Living likely to swing into losses:

The home textile exporter faces challenges from tariff impacts and absorption of higher costs amid a difficult demand environment.

Energy and Pharmaceutical Sector Impact

GAIL India, the nation's largest natural gas transmission company, is projected to see core profit decline 55% year-on-year to ₹1,742.00 crore from ₹3,867.00 crore. Weakness in its LPG and petrochemical segments due to low regional LPG prices and continued losses in its petrochemical division are expected to impact overall profitability.

In pharmaceuticals, both NATCO Pharma and Orchid Pharma face significant challenges:

Consumer and Infrastructure Sectors

Bajaj Electricals faces weak consumer demand and adverse operating leverage, with profit expected to tumble 52% year-on-year. The consumer durables company has been struggling with demand scenarios and competitive pressures on margins.

Sapphire Foods India, operating Pizza Hut and KFC outlets, expects net profit to fall 62% year-on-year. The QSR operator battles weak same-store sales growth, with KFC expected to report flat SSSG and Pizza Hut facing an 11% decline.

KNR Construction is expected to report a 55.7% year-on-year decline in adjusted PAT to ₹40.00 crore, despite operating margin improvement of 160 basis points year-on-year due to better execution following weak Q2 performance.

Market Outlook

Weak global growth, margin compression due to increased competitive intensity, and muted consumer demand in certain segments are the primary factors behind the earnings slowdown for these companies. While sectors like industrials, domestic auto, metals, and durables are expected to show strong growth, exporters in chemicals, auto, and pharma segments are likely to face continued headwinds.

Nippon Life India AMC has announced an investor conference call to discuss its financial performance for the quarter ended December 31, 2025. The company informed stock exchanges about the scheduled earnings call pursuant to regulatory requirements under SEBI listing obligations.

Conference Call Details

The investor conference call is scheduled for January 29, 2026, at 5:00 PM IST. The company has provided comprehensive participation details for investors and analysts interested in the quarterly results discussion.

Management Participation

The conference call will feature a comprehensive management team representing various business functions and divisions. Senior leadership from across the organization will be available to address investor queries and provide insights into the company's quarterly performance.

Participation and Contact Information

Investors can join the conference call through multiple channels. The company has provided both traditional dial-in options and express join alternatives for participant convenience. For technical support or enquiries related to the conference call, dedicated contact points have been established.

Contact details for conference call support include silketha.quinny@incresearch.com or +91 98923 80170. Additionally, the InCred Capital team is available through Meghna Luthra at +91 99203 76370, Satish Kumar at +91 22 4161 1557, and Ajay Rao at +91 99679 50001.

Regulatory Compliance

The announcement was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company formally notified both BSE Limited and National Stock Exchange of India Limited about the scheduled investor conference call on January 7, 2026. This regulatory filing ensures transparency and provides adequate notice to investors and market participants about the upcoming financial results discussion.