Q2 Results Live: HUL Tanks 3% After Q2 Show; Vedanta Rises Ahead Of Earnings; TVS Motor Also In Focus

• Axis Max Life said the use of AI-driven tools has helped improve sales distribution productivity.
• Management said market volatility impacted demand for ULIPs during Q2, while delays in product launches affected distribution through the Axis Bank channel.
• The company expects healthy growth from the Axis channel in H2 FY27 as product launches normalise and distribution momentum improves.
• Management also said the company stands to benefit from proposed IRDAI distribution norms across a significant portion of its network.
   

• Max Financial Services said it remains positive on margin expansion and is confident of delivering VNB margins near 26% in FY27.
• Management said there is sufficient opportunity to grow the protection business, which remains a key focus area.
• The company expects healthy growth from its distribution channels in the coming quarters.

• Star Health & Allied Insurance reported Q2 net profit of Rs 265 crore, compared with Rs 79.6 crore a year ago.
• Total insurance revenue increased 15.4% YoY to Rs 5,074 crore from Rs 4,396 crore.

• Piramal Pharma reported Q2 consolidated net profit of Rs 5.6 crore, compared with a loss of Rs 99.2 crore a year ago.
• Revenue rose 28.1% YoY to Rs 2,617 crore.
• EBITDA increased to Rs 349 crore from Rs 159 crore.
  EBITDA margin expanded to 13.3% from 7.8% a year ago.

• HUL said underlying demand remains resilient despite inflationary pressures.
• The company expects commodity inflation to continue in the near term.
• Management guided for consolidated EBITDA margins in the 22-24% range.
• HUL added that it expects FY27 performance to be better than FY26, supported by demand recovery and growth across key categories.

• Personal Care revenue increased 8% YoY to Rs 2,617 crore, while EBIT declined 9% YoY to Rs 449 crore.
• HUL said Personal Care volume growth remained flat during Q2.
• Foods revenue rose 9% YoY to Rs 3,849 crore, while Foods EBIT increased 16% YoY to Rs 834 crore.
• The company said Foods volumes grew in the low-single digits during the quarter.
   

• Home Care revenue grew 21% YoY to Rs 6,878 crore, while Home Care EBIT increased 3% YoY to Rs 1,111 crore.
• Beauty & Wellbeing revenue rose 16% YoY to Rs 4,319 crore, with EBIT also increasing 16% YoY to Rs 1,235 crore.
• HUL said both the Home Care and Beauty & Wellbeing businesses delivered double-digit volume growth during the quarter.

• Hindustan Unilever Ltd. (HUL) reported Q2 consolidated net profit of Rs 2,790 crore, up 3.9% YoY from Rs 2,685 crore.
• Revenue rose 14.5% YoY to Rs 18,226 crore from Rs 15,919 crore.
• EBITDA increased 8% YoY to Rs 4,089 crore from Rs 3,785 crore, while EBITDA margin declined to 22.4% from 23.8% a year ago.
• The board approved an interim dividend of Rs 19 per share and fixed Nov. 12 as the record date.

• TVS Motor Co. is expected to report a strong Q2 FY27 performance, with revenue estimated to rise 35% YoY to Rs 16,090 crore from Rs 11,905 crore.
• Net profit is expected at Rs 1,250 crore, up 38% YoY from Rs 906 crore, while EBITDA is seen rising 38% YoY to Rs 2,076 crore.
• EBITDA margin is expected to improve to 12.9% from 12.7% a year ago, supported by operating leverage and favourable currency movements.
• Total vehicle volumes rose 27% YoY to 19.1 lakh units during the quarter.
• Key monitorables include management commentary on the impact of drought and El Niño on rural demand, export momentum, progress on Norton Motorcycles launches in H2 FY27, and capacity expansion plans for the EV scooter business.
• The company recently appointed Peyman Kargar as Director and Chief Executive Officer.

• EBITDA is estimated at Rs 10,007 crore, with EBITDA margin expected at 15.6%.
• Analysts expect standalone realisations to decline by around Rs 600 per tonne QoQ, reflecting lower steel prices.
• EBITDA per tonne is expected to decline by about Rs 1,200 per tonne to Rs 16,500 per tonne.
• Commentary on higher coking coal prices, cost pressures and margin outlook will be among the key monitorables during the earnings call.

• Analysts expect poor volumes at Tata Steel Europe to weigh on overall performance during the quarter.
• In the UK business, both volumes and pricing are expected to remain subdued.
• However, stronger pricing in the Netherlands operations is likely to partly cushion the weakness in the UK business.
• Investors will closely track management commentary on the recovery timeline for the European and UK operations.

• Hindustan Unilever Ltd. (HUL) reported Q2 net profit of Rs 2,790 crore, marginally ahead of the Street estimate of Rs 2,784 crore.

• Revenue came in at Rs 18,226 crore, surpassing estimates of Rs 17,582 crore.

• EBITDA stood at Rs 4,089 crore, higher than the estimated Rs 4,018 crore.

• However, EBITDA margin came in at 22.4%, below the Street expectation of 23.1%.

• The consumer goods major delivered a beat on revenue, profit and operating profit, though margins came in below estimates.

• HUL Profit At Rs 2,790 crore
• Revenue At Rs 18,226 crore
• Underlying Volume Growth at 7% 

• Tata Steel is expected to report Q2 consolidated revenue of Rs 64,152 crore, with PAT estimated at Rs 3,144 crore.
• Analysts expect the company to deliver a resilient performance from its India operations, supported by stronger domestic volumes.
• Standalone steel volumes are expected to grow 16% QoQ to 6 million tonnes, partially offsetting weakness in overseas operations.

• EBITDA is estimated at Rs 1,929 crore, up 6% YoY, while EBITDA margin is expected to decline to 13.3% from 15% a year ago.
• Management had earlier guided for margins in the 14-16% range, despite facing an estimated 4.5% impact from commodity inflation.
• Investors will closely track commentary on input costs, pricing actions and margin recovery, with the company having indicated a marginal uptick in inflationary pressures during Q2 FY27.

• Hero MotoCorp is expected to report Q2 revenue of Rs 14,481 crore, up 19% YoY from Rs 12,126 crore.
• Total sales are estimated to have increased 10% YoY to 18.6 lakh units during the quarter.
• Net profit is expected at Rs 1,493 crore, up 7% YoY from Rs 1,393 crore, supported by healthy volume growth and price hikes.

• HUL's EBITDA is estimated at Rs 4,018 crore, up 7.7% YoY, while EBITDA margin is seen at 23.1% versus 23% a year ago.
• Net profit is expected to increase 3.6% YoY to Rs 2,784 crore from Rs 2,685 crore.
• Investors will closely track management commentary on raw material inflation, margin outlook, pricing actions and demand recovery, particularly across rural markets.

• Hindustan Unilever Ltd. (HUL) is expected to report Q2 revenue of Rs 17,582 crore, up 8.2% YoY from Rs 16,241 crore.
• Analysts expect revenue growth to be largely price-led, with volume growth likely to remain in the mid-single-digit range.
• Key monitorables include the pace of rural demand recovery, urban consumption trends, and the balance between pricing growth and underlying volume expansion.

Hindustan Unilever, Vedanta, TVS Motor Company, Hyundai Motor India, Hero MotoCorp, JSW Energy, United Spirits, Pidilite Industries, PVR INOX, Adani Enterprises, Meesho and KPIT Technologies will be among the key earnings announcements to watch.

Stay tuned to this Q2 Results Live blog for the latest earnings announcements, financial performance, management commentary and market reaction throughout the day.