The last leg of the earnings season for Q4 FY26 is near, with over 400 companies are set to release their financials for the quarter that ended on March 31, 2026, on Thursday, May 28.
The earnings announcements come on a day when the Indian stock market is closed for trading on account of Bakri Eid. On Wednesday, the Sensex fell 142 points or 0.19% to end at 75,867.80, while the Nifty 50 slipped 7 points or 0.03% to settle at 23,907.15.
Ashok Leyland's profit after tax is projected to increase by 9% from a year ago in the March quarter, according to Motilal Oswal.
The brokerage believes the volumes of Ashok Leyland will continue to be robust owing to the growth in medium and heavy commercial vehicles (MHEVs) and light commercial vehicles (LCVs).
The firm said, “Volume grew 17% in Q4, with LCV increasing by 25% and MHCV increasing by 17% (lower due to lower bus volumes).”
The brokerage forecast margins to narrow by 50 basis points from the same quarter last year to 14.5%. It has also taken into account over a 12% increase in EBITDA to 14.5% EBITDA margin for the quarter.
Bharat Dynamics will also release its Q4 FY26 numbers today. Motilal Oswal said the defence company's revenue is likely to decline by 2% year-on-year, mainly amid supply-chain dependence on other vendors and imports from Israel.
The key projects like Akash, Astra Mk-1, and anti-tank guided missile orders will drive execution.
The brokerage’s revised estimates include a 700-basis-point (bps) margin expansion from ramp-up in execution and operating leverage, while the revenue was lowered caused by supply chain issues and the company reduced the TP to Rs. 1,500.
Investors will closely watch the order inflow for Akash-NG, including exports, QRSAM, supply-chain management and conversion of recently announced AoNs to firm orders, Motilal Oswal said.
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Other top stocks will be reporting Q4 results today, other than Ashok Leyland and Bharat Dynamics. Some of them are Alkem Laboratories, Apar Industries, Schneider Electric Infrastructure, Procter and Gamble Hygiene and Health Care, ITI, Deepak Fertilisers and Petrochemicals Corporation, Finolex Cables, Avanti Feeds, Graphite India, JSW Holdings, TBO Tek, MMTC, Lemon Tree Hotels, Relaxo Footwears, Praj Industries, and Happiest Minds Technologies.
There are over 400 companies reporting earnings and investors will be interested in sector-specific trends, margin performance, order inflows and management commentary.