India’s earnings season hits full stride today as the markets brace for a flurry of Q2FY26 results from some of the biggest names across sectors.
From Adani Power and ITC to Swiggy and Dabur India, investors are gearing up for a day packed with financial updates that could shape near-term market sentiment.
Let’s break down what’s driving the buzz in the market today.
Market Overview: Weak Start on Global Cues
The domestic market opened on a cautious note this Thursday, tracking mixed global signals.
- GIFT Nifty futures slipped 71 points to 26,167, hinting at a softer start for equities.
- The US Federal Reserve’s 25-basis-point rate cut to 3.75–4% was met with a subdued reaction as Chair Jerome Powell cautioned against assuming another cut in December.
- In Asia, the Kospi gained 0.94%, Topix added 0.33%, while Nikkei slipped 0.25%. Australia’s ASX 200 was down 0.2%.
- On Wall Street, the Dow Jones edged 0.2% lower, the S&P 500 stayed flat, and the Nasdaq closed 0.55% higher — powered by Nvidia’s record-setting rally.
Beyond rate decisions, markets are also watching the anticipated meeting between US President Donald Trump and China’s Xi Jinping at the APEC Summit, which could influence global trade sentiment.
Main Story: Q2 Results Flood the Street
Earnings action dominates the day with 89 listed companies scheduled to announce their September quarter numbers.
The spotlight will be on sector leaders across power, banking, FMCG, and tech, each offering a read on India’s economic pulse.
Key Firms Reporting Today
- Adani Power Ltd
- Dabur India Ltd
- United Spirits Ltd
- Canara Bank
- NTPC Ltd
- Bandhan Bank Ltd
- Coromandel International Ltd
- Lodha Developers Ltd
- ITC Ltd
- Exide Industries Ltd
- Swiggy Ltd
These updates come amid a volatile backdrop where global cues, interest rates, and commodity prices are already stirring short-term market swings.
Company Highlights
Adani Power
Investors will track Adani Power’s Q2 performance closely, particularly after a strong run in recent months driven by higher plant load factors and steady power demand across India.
The focus will be on revenue growth, EBITDA margins, and net profit trajectory, reflecting how operational efficiencies are sustaining profitability despite fluctuating coal prices.
Dabur India
For Dabur, all eyes are on the resilience of its domestic consumer business.
With rural demand gradually improving, the company’s FMCG portfolio performance — spanning healthcare, home care, and beverages — could signal the broader consumption trend.
Margins and input cost management will be key factors to watch this quarter.
ITC
ITC’s results are always a bellwether for FMCG and hospitality trends.
The company’s cigarettes and packaged foods divisions are expected to support steady growth, while hotels and paperboards continue to recover.
EBITDA performance and profit margins will indicate how ITC’s diversification strategy is paying off.
Swiggy
The most anticipated number today may come from Swiggy, as the food delivery major continues to scale up its quick-commerce arm, Instamart.
The company’s revenue is expected to jump 51% YoY to around ₹5,449 crore, compared to ₹3,605 crore in the same period last year, marking another strong quarter of expansion.
Sequentially, this is a 10% rise from ₹4,961 crore in Q1FY26, highlighting how demand for quick deliveries remains robust.
Canara Bank & Bandhan Bank
The banking sector will see strong representation today.
For Canara Bank, investors will track loan book growth, asset quality, and provisions, while Bandhan Bank’s results will be key in assessing retail lending momentum and collection efficiencies after the recent volatility in microfinance portfolios.
NTPC
India’s largest power generator, NTPC, is expected to report a steady quarter with focus on capacity utilization, fuel costs, and its green energy pipeline.
Any update on renewable projects and thermal performance will be critical as investors gauge the company’s long-term transition strategy.
Coromandel International
As one of India’s key agri-input players, Coromandel’s results will reflect monsoon trends and fertilizer demand patterns.
With rural demand in focus, investors will look for signs of margin stability amid global price fluctuations.
Lodha Developers
In real estate, Lodha Developers’ Q2 update will shed light on housing demand amid festive-season pre-bookings.
The company’s sales momentum, debt reduction progress, and project pipeline will remain key discussion points.
Exide Industries
For Exide, the spotlight is on how its automotive and industrial battery divisions perform amid the electric mobility shift.
Revenue growth trends and margin movements will offer insight into how the company is balancing demand across traditional and EV-linked segments.
Other Notable Results Expected
Several mid- and small-cap firms also join today’s earnings rush.
These include:
- Indian Energy Exchange (IEX)
- Dr Agarwal’s Eye Hospital
- Navin Fluorine International
- Birla Cable
- Pidilite Industries
- Union Bank of India
- Aditya Birla Capital
- Cipla
- Welspun Corp
- Hyundai Motor India
- DLF Ltd
This widespread mix of companies from diverse sectors — banking, energy, healthcare, auto, and infrastructure — makes today one of the most data-heavy sessions of the earnings calendar.
L&T Q2 Snapshot: Strong Project Execution
Larsen & Toubro (L&T) has already set a strong tone for the season with its Q2FY26 numbers:
- Net profit: ₹3,926 crore, up 15.6% YoY
- Revenue from operations: ₹67,984 crore, up 10.4% YoY
- EBITDA: ₹6,806 crore, up 7% YoY
- EBITDA margin: 10%, versus 10.3% last year
- New orders: ₹1.15 trillion, with 65% sourced from international markets
The company’s order book remains strong, indicating continued momentum in infrastructure and overseas projects.
Hyundai Motor India Q2 Preview
Hyundai Motor India is expected to post modest revenue growth, but stronger operating margins, supported by:
- Higher localisation levels
- Improved product mix
- Cost control and operational efficiencies
Even as sales volumes see mild pressure, average selling prices and currency gains may help cushion margins.
Investors are also eyeing festive-season demand trends and upcoming model announcements for further cues.
Summary: A Market Day Packed with Earnings Energy
With over 89 companies reporting, today’s session could set the tone for the next leg of the market’s earnings narrative.
While large-caps like Adani Power, ITC, and NTPC will dominate headlines, the mid- and small-cap results may quietly reveal the deeper strength of India’s economy.
In short, investors are not just watching the numbers — they’re watching the story behind them.
Whether it’s Swiggy’s 51% revenue growth, L&T’s trillion-rupee order book, or Dabur’s FMCG resilience, every result today adds a new chapter to the broader “India growth” story.
