Q4 FY25 earnings season opens this week. Five sectors, 90 reports.
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Q4 earnings preview: the five sectors that will move the Nifty
The Q4 FY25 earnings season starts this week. Consensus has been revised down across IT and large-cap banks, revised up for capital goods. Here is the base-rate picture.
Sector-by-sector
IT services: Expect TCS, Infosys, and Wipro to print low single-digit constant-currency growth. The interesting number is Q1 FY26 guidance.
Private banks: NIM compression is the consensus call. Watch credit costs, particularly in unsecured retail.
FMCG: Volume growth is the only line that matters. Pricing has done its work.
Auto: PV momentum holds. Two-wheeler entry-segment recovery remains the swing factor.
Capital goods: Order inflows above topline growth = thesis intact.
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