Q3 results 2026: Around 280 companies are scheduled to release their financial results for the quarter ending December 31, 2025, on Tuesday, February 10, amid the ongoing Q3 earnings season FY26.
Titan, Grasim Industries, Eicher Motors, Britannia India, Apollo Hospitals, Oil India, Torrent Power, and Jubilant Foodworks are among the companies to declare Q3 results today.
According to market experts, the ongoing Q3 results, which have come to a near-end, are likely to continue to drive the Indian stock market this week.
“Overall, we expect the market to continue its gradual upmove, with stock-specific action likely to remain in focus as the third-quarter earnings season approaches its final leg, with several companies scheduled to announce results this week,” said Siddhartha Khemka, Head of Research, Wealth Management, Motilal Oswal Financial Services.
Brokerage firm Motilal Oswal expects the company to post 28% standalone revenue growth (excluding bullion) and Tanishq LTL growth of 23% in 3QFY26.
“Standalone Jewellery EBIT (ex-bullion) margin is expected to decline 50bp YoY to 10.7%, impacted due to weak mix (high gold coin) on rise in gold prices. We expect healthy double-digit growth in watches, eyewear, and other businesses,” the firm said in a note.
Kotak Institutional Equities expects a robust 3.9% quarter-to-quarter (QoQ) increase in volumes, along with a marginal increase in realisations in the VSF segment, and largely flat volumes/margins in the chemicals segment.
“We estimate standalone EBITDA of Rs4.3 bn including (1) VSF EBITDA of Rs4.1 bn (+23% yoy, +16% qoq) on improved volumes and margins, (2) chemicals EBITDA of Rs3.7 bn (+11.4% yoy, +0.4% qoq) on stable margins/volumes qoq, and (3) continued losses in paints division, along with a return to qoq revenue growth in contrast to decline last quarter,” the brokerage firm said.
The brokerage firm believes that Royal Enfield volumes increased by 21% on a YoY basis in 3QFY26, led by strong demand trends in domestic markets.
“We expect revenues to increase by 19.5% yoy in 3QFY26, led by (1) 21% yoy volume uptick and (2) 1% yoy decline in ASPs due to inferior product and geographical mix. We estimate standalone EBITDA margin to increase by 30 bps yoy in 3QFY26 led by operating leverage benefits, which will be offset by (1) higher marketing and advertisement spends, (2) inferior product mix in the domestic market and (3) RM headwinds (higher commodity prices),” the firm said.
Kotak Equities expects Oil India’s EBITDA to decrease 2.7% YoY and 4.7% QoQ. It further anticipates crude sales to be up 2.6% YoY, but gas sales to decline 1.6% YoY.
“We model (1) overall crude oil sales volumes 847kt (up 2.6% yoy and up 2.4% qoq), (2) natural gas sales volumes at 671 mmscm (down 1.6% yoy, up 1.9% qoq) 3) Gross crude price realisation of US$63.7/bbl (down 14% yoy) and net oil price realisation of ~US$43/bbl (down 13% yoy, down 6% qoq). Gas realisation will likely be ~US$6.4/mmbtu (up 0.7% yoy, down 2.1% qoq),” said the firm.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
