Tech Mahindra and Bajaj Fin among 38 firms to report Q4 results today

TCS, Infosys, and Wipro are IT majors that have already declared their numbers for the quarter

Several companies will announce their fourth quarter results for Financial Year 2023-24 (Q4 FY24) on Thursday. Among the 38 companies, Nestle India, Tech Mahindra, Bajaj Finance, and Indusind Bank are the prominent ones.

Tech Mahindra Q4 results preview

With major technology firms like TCS, Infosys, and Wipro having already presented their fourth-quarter numbers, attention now turns to Tech Mahindra.

Analysts at Motilal Oswal Financial Services anticipate a modest revenue growth of 0.7 per cent quarter-on-quarter (Q-o-Q) in constant currency (CC), attributing it to weakness in both the communications, media & entertainment and enterprise verticals.

They project the company’s total contract value (TCV) at around $500 million for the quarter. Margins are expected to improve by 140 basis points Q-o-Q, driven by cost-control efforts, although subdued growth may exert pressure on margins. Investors will monitor the outlook on margin and growth in the communications, media and entertainment vertical.

Nestle Q4 results preview

Kotak Institutional Equities analysts anticipate around eight per cent year-on-year (Y-o-Y) growth in net revenues for Nestle India, with domestic revenues expected to grow at 8.5 per cent. Export revenues may decline five per cent. The analysis projects volume and pricing growth of 5.5 per cent and three per cent Y-o-Y, respectively.

Gross margin is expected to expand by 370 basis points Y-o-Y to 57.5 per cent, while ebitda margin is estimated at 25.3 per cent, with factors like inflation in cocoa affecting sequential declines.

Bajaj Finance Q4 results preview

Analysts at Motilal Oswal foresee Bajaj Finance reporting a 35 per cent Y-o-Y and seven per cent Q-o-Q growth in assets under management (AUM). Operating expenses are expected to remain stable, with a Cost-to-Income Ratio (CIR) around 34 per cent. Margins are anticipated to contract by approximately 20 basis points Q-o-Q, with credit costs likely declining to around 1.65 per cent Q-o-Q.

Indusind Bank Q4 results preview

Analysts at Nirmal Bang expect IndusInd Bank to maintain momentum with a 5.1 per cent Q-o-Q growth in its loan book. Key monitorables include growth guidance considering prevailing high interest rates, NIM outlook amidst growing higher-cost term deposits, and asset quality assessments.

ACC Q4 results preview

Motilal Oswal anticipates robust Y-o-Y Ebitda growth of 74-75 per cent for ACC, driven by strong volume growth. However, weak pricing may lead to Q-o-Q reduction in Ebitda/tonee. Despite anticipated declines in cement realisation and sequential Ebitda/tonne, sales volume growth is expected at 12 per cent Y-o-Y.