The earnings season for the December 2025 quarter is now in full swing. On Monday, January 19, more than thirty companies are set to announce their financial results. This marks a significant expansion from the initial wave led by IT giants last week.
Key Heavyweights in the Spotlight
Bharat Heavy Electricals (BHEL), Tata Capital, Indian Railway Finance Corporation (IRFC), Hindustan Zinc, and Punjab National Bank (PNB) headline the list of major firms reporting today. Their performance will be closely watched by market participants.
Ajit Mishra, Senior Vice President of Research at Religare Broking, highlighted the market's focus. "Investors will first react to the earnings of key heavyweights like Reliance Industries, HDFC Bank, and ICICI Bank," he said. "After that, attention will shift to the broader set of Q3 results from many large and mid-cap companies across various sectors."
Brokerage Previews for Major Companies
Punjab National Bank (PNB): Elara Capital expects the bank to show sequential growth of 2-3% quarter-on-quarter. Net interest margins (NIMs) are likely to remain steady or see a slight increase of 5-10% QoQ. The brokerage noted, "We anticipate better recovery from written-off accounts, which should support earnings."
Bharat Heavy Electricals (BHEL): JM Financial projects BHEL's net revenue to grow by 22% year-on-year for the December quarter. They estimate EBITDA margins around 7.3%. This growth is driven by stronger execution and a higher contribution from newer orders in the company's project mix. The brokerage expects sales to improve due to a robust order book and better operational execution. EBITDA is also seen benefiting from operating leverage and a more favorable order mix.
Hindustan Zinc: Systematix believes the company is poised for higher profitability and margin expansion. This is primarily driven by elevated commodity prices, especially for silver. The firm anticipates revenue and EBITDA to rise by 22% and 24% year-on-year, respectively. "Key aspects to monitor include the nature of contracts for silver sales, the company's outlook, expansion timelines, and volume guidance," Systematix stated in its note.
Full List of Companies Declaring Results on January 19
The following companies are scheduled to announce their Q3 FY26 results today:
- Aarti Surfactants Ltd (AARTISURF)
- Automobile Corp Of Goa Ltd (ACGL)
- ADM Agro Industries Ltd (ADMACH)
- Aplab Ltd (APLAB)
- Apollo Techno Industries (ATIL)
- Atishay Ltd (ATISHAY)
- Atlanta Electricals Ltd (ATLANTAELE)
- Aurum PropTech Ltd (AURUM)
- Bansal Wire Industries Ltd (BANSALWIRE)
- Bharat Heavy Electricals Ltd (BHEL)
- Burnpur Cement Ltd (BURNPUR)
- CEAT Ltd (CEATLTD)
- Gujarat Lease Financing Ltd (GLFL)
- Hatsun Agro Product Ltd (HATSUN)
- Havells India Ltd (HAVELLS)
- Hindustan Zinc Ltd (HINDZINC)
- IB Infotech Enterprises Ltd (IBINFO)
- Indian Railway Finance Corporation Ltd (IRFC)
- ISF Ltd. (ISFL)
- Jupiter Infomedia Ltd (JUPITERIN)
- Kalamandir Jewellers Ltd (KALAMANDIR)
- Kapil Raj Finance Ltd (KAPILRAJ)
- Laddu Gopal Online Services Ltd (LADDU)
- Lakhotia Polyesters (India) Ltd (LAKHOTIA)
- LTIMindtree Ltd (LTIM)
- National Standard (India) Ltd (NATIONSTD)
- NDL Ventures Ltd (NDLVENTURE)
- Oberoi Realty Ltd (OBEROIRLTY)
- Punjab National Bank (PNB)
- Rudra Global Infra Products Ltd (RUDRA)
- SEL Manufacturing Company Ltd (SEL)
- Surf Fin Ltd (SURFI)
- Tata Capital Ltd (TATACAP)
- Tips Music Ltd (TIPSMUSIC)
- Trishakti Industries Ltd (TRISHAKT)
Disclaimer: This news report is for informational and educational purposes only. Readers are advised to consult with a qualified investment advisor before making any financial decisions.
