Earnings season delivers mixed signals this morning. International Gemological Institute rallies on a 43% profit surge, while KEI Industries drops 4.76% as margin contraction overshadows strong top-line growth. Here’s what’s moving.

International Gemological Institute

• Earnings: Consolidated net profit jumped 43% YoY to ₹1,858 million, significantly beating market estimates of ₹1,400 million. Revenue rose 31% YoY to ₹3,980 million, with EBITDA margins expanding 340 bps to 61.4%. Stock closed at ₹321.10 in the previous session, down 0.26%.
• ESG Rating: The company received an overall ESG score of 63 from NSE Sustainability for FY26, based on public domain data.

Indian Hotels Company

• Earnings: Net profit grew 23% YoY to ₹349 crore but missed consensus estimates of ₹380 crore. Revenue increased 21% YoY to ₹2,566 crore, driven by a 24% rise in the hotel segment. Stock closed at ₹753.00 in the previous session, down 0.92%.
• Guidance: Management upgraded FY27 revenue growth guidance to 15-17%, up from the previous range of 12-14%, citing demand surpassing supply.
• Expansion: The portfolio reached 670 hotels after signing 47 new properties in H1FY27, with a forward pipeline of 280 hotels supporting Accelerate 2030 goals.
• Regulatory: The BMC imposed a ₹10 lakh penalty for lacking a No Objection Certificate from its Estate Department; the company stated there is no material financial implication.

KEI Industries

• Earnings: Net profit rose 29% YoY to ₹262 crore, though it missed estimates. Revenue surged 38.5% YoY to ₹3,777 crore, but EBITDA margins contracted 81 bps to 10.62%. Stock closed at ₹4,230.40 in the previous session, down 4.76%.
• Corporate Action: The Board is set to consider an equity share buyback via a tender offer.
• ESG Rating: ERAIL assigned an ESG rating of 71, placing the company in the 'Excellent' category for FY26.

M&M Financial Services

• Earnings: Standalone net profit climbed 54.8% YoY to ₹881.52 crore. Revenue from operations grew 15.4% YoY to ₹5,163.51 crore, while disbursements jumped 22% YoY to ₹16,499 crore. Stock closed at ₹297.45 in the previous session, down 2.44%.
• Asset Quality: Gross Stage-3 assets improved to 3.42% from 3.94% in the year-ago quarter, signaling stronger credit health.

NHPC

• Operations: Commercial Operation was declared for Unit 5 (250 MW) of the Subansiri Lower HE Project on October 23, 2026. This brings total operational capacity to 1,250 MW, or 62.5% of the project's potential. Stock closed at ₹72.65 in the previous session, up 2.76%.
• Pipeline: Units 6 through 8, totaling 750 MW, await final clearance to complete the project.

Alkem Laboratories

• Management: Laxmikant Tiwari and Niles Vartak were appointed to senior management roles effective October 12, 2026. Tiwari brings over 27 years of pharmaceutical operations experience, while Vartak has 24+ years in supply chain leadership. Stock closed at ₹5,015.00 in the previous session, up 0.22%.

Bottom Line

Q2FY27 results are creating sharp divergences, with high-margin winners like IGIL outperforming while capital-intensive firms like KEI face pressure from margin compression. Investors are closely watching guidance upgrades from consumer discretionary names like Indian Hotels against regulatory headwinds in the power sector.