An ICICI Securities report projects companies in its coverage to post revenue growth of about 7% year-on-year, lower than about 10% in the first nine months of FY26. While domestic sales growth is expected to be strong at 13.6%, US revenue in dollar terms is projected to drop by about 7%, partly compensated by the rupee’s fall. Ebitda is projected to decline by 2.4%, with price erosion leading to lower gross margin. Additionally, higher freight costs in March, triggered by the West Asia war, would also impact profitability. Ebitda is short for earnings before interest, taxes, depreciation and amortization.
