Q2 Results Live: Zee Entertainment Profit Drops 38%, GAIL Profit Rises 8% To Rs 4,650 Crore; RIL Falls Ahead Of Earnings

Borosil Renewables (Q2 FY27, Consolidated, YoY)

• Net profit at Rs 69 crore versus Rs 26 crore YoY.
• Revenue up 4.7% to Rs 397 crore from Rs 379 crore.
• EBITDA down 11% to Rs 106 crore from Rs 119 crore.
• EBITDA margin at 26.6% versus 31.3% YoY.

Zee Entertainment (Q2 FY27, Consolidated, YoY)

• Net profit down 37.7% to Rs 48 crore from Rs 77 crore.
• Revenue up 12.9% to Rs 2,224 crore from Rs 1,970 crore.
• EBITDA down 46.6% to Rs 85.5 crore from Rs 160 crore.
• EBITDA margin at 3.8% versus 8.1% YoY.

Vadilal Industries (Q2 FY27, Consolidated, YoY)

• Net profit up 64.1% to Rs 54.8 crore from Rs 33.4 crore.
• Revenue up 35.4% to Rs 463 crore from Rs 342 crore.
• EBITDA up 59.4% to Rs 84.3 crore from Rs 52.9 crore.
• EBITDA margin at 18.2% versus 15.5% YoY.

SJVN (Q2 FY27, Consolidated, YoY)

• Net profit at Rs 657 crore versus Rs 308 crore YoY.
• Revenue at Rs 2,244 crore versus Rs 1,032 crore YoY.
• EBITDA up 84.3% to Rs 1,585 crore from Rs 860 crore.
• EBITDA margin at 70.6% versus 83.3% YoY

Aditya Vision (Q2 FY27, YoY)

• Net profit up 38.5% to Rs 18 crore from Rs 13 crore.
• Revenue up 27.9% to Rs 586 crore from Rs 458 crore.
• EBITDA up 28.6% to Rs 45 crore from Rs 35 crore.
• EBITDA margin at 7.7% versus 7.6% YoY.
   

Restaurant Brands Asia reported a net loss of Rs 20 crore in Q2, compared with a loss of Rs 59 crore a year ago. Revenue increased 20.2% to Rs 845 crore from Rs 703 crore, while EBITDA rose 54.9% to Rs 110 crore from Rs 71 crore. EBITDA margin expanded to 13% from 10.1%. The company also appointed Sumit Zaveri as CEO of its India business.
 

GAIL reported an 8.3% quarter-on-quarter increase in net profit to Rs 4,650 crore in Q2, compared with Rs 4,292 crore in the previous quarter. Revenue rose 17.8% to Rs 45,895 crore from Rs 38,953 crore, while EBITDA increased marginally by 0.5% to Rs 6,412 crore from Rs 6,377 crore. EBITDA margin contracted to 14% from 16.4% QoQ.

Navin Fluorine International reported an 81.8% year-on-year increase in net profit to Rs 269 crore in Q2, compared with Rs 148 crore in the year-ago period. Revenue rose 57.1% to Rs 1,191 crore from Rs 758 crore, while EBITDA increased 65.9% to Rs 408 crore from Rs 246 crore. EBITDA margin improved to 34.3% from 32.5%. The company will pay an interim dividend of Rs 8 per share.

Max Healthcare reported a 15.5% year-on-year decline in net profit to Rs 415 crore in Q2, compared with Rs 491 crore in the year-ago period. Revenue rose 20.3% to Rs 2,569 crore from Rs 2,135 crore, while EBITDA increased 23.8% to Rs 712 crore from Rs 575 crore. EBITDA margin improved to 27.7% from 26.9%. The company approved a capex of Rs 190 crore for two hospitals and revised the project cost for its Gurugram facility to Rs 1,143 crore.

Borosil reported a 40.5% year-on-year increase in net profit to Rs 31.9 crore in Q2, compared with Rs 22.7 crore a year ago. Revenue rose 7.5% to Rs 369.8 crore from Rs 344.1 crore, while EBITDA increased 32.8% to Rs 69.2 crore from Rs 52.1 crore. EBITDA margin expanded to 18.7% from 15.1%.

Milky Mist reported net profit of Rs 77.9 crore in Q2, compared with Rs 28.4 crore a year ago. Revenue increased 41.5% to Rs 1,089 crore from Rs 769.5 crore, while EBITDA rose 49.4% to Rs 157 crore from Rs 105.1 crore. EBITDA margin improved to 14.4% from 13.7%.

Globus Spirits reported a 36.4% year-on-year decline in net profit to Rs 14 crore in Q2, compared with Rs 22 crore in the year-ago period. Revenue rose 15.3% to Rs 763 crore from Rs 662 crore. EBITDA increased marginally by 1.5% to Rs 61 crore, compared with Rs 60 crore a year ago, while EBITDA margin contracted to 7.9% from 9%.

DCW reported a 24.6% year-on-year decline in net profit to Rs 10.4 crore in Q2, compared with Rs 13.8 crore a year ago. Revenue increased 23% to Rs 663 crore from Rs 539 crore, while EBITDA declined 17.2% to Rs 47.6 crore from Rs 57.5 crore. EBITDA margin contracted to 7.2% from 10.7%. The board also approved a share buyback worth Rs 40 crore.

Indian Energy Exchange reported a 13% year-on-year increase in net profit to Rs 139 crore in Q2, compared with Rs 123 crore a year ago. Revenue rose 8.4% to Rs 167 crore from Rs 154 crore, while EBITDA increased 5.8% to Rs 141 crore from Rs 134 crore. EBITDA margin stood at 84.6% against 86.7% a year ago.

Sun Pharmaceutical Industries reported a 36.2% year-on-year decline in net profit to Rs 1,989 crore in Q2, compared with Rs 3,118 crore a year ago. The company recognised a one-time loss of Rs 1,269 crore during the quarter. Revenue increased 11.9% to Rs 16,199 crore from Rs 14,478 crore, beating the estimate of Rs 15,766 crore.

EBITDA rose 4.8% to Rs 4,744 crore from Rs 4,527 crore, ahead of the estimated Rs 4,403 crore. EBITDA margin came in at 29.3%, higher than the estimated 27.9%.

US formulation sales declined 8.2% year-on-year to $455 million, while emerging markets formulation sales increased 7.6% to $350 million. Rest of the World formulation sales rose 3.1% to $241 million. Innovative medicine sales increased 6.9% to $356 million, while external API sales grew 13.7% to Rs 489 crore.

Steamhouse India reported net profit of Rs 7.8 crore in Q2, compared with Rs 3 crore a year ago. Revenue increased 2.4% to Rs 128 crore from Rs 125 crore, while EBITDA rose 77.3% to Rs 25 crore from Rs 14.1 crore. EBITDA margin expanded to 19.5% from 11.3%.

Skipper reported a 56.8% year-on-year increase in net profit to Rs 58 crore in Q2, compared with Rs 37 crore a year ago. Revenue rose 9.7% to Rs 1,384 crore from Rs 1,262 crore, while EBITDA increased 10.7% to Rs 145 crore from Rs 131 crore. EBITDA margin improved marginally to 10.5% from 10.38% a year ago.

Vinati Organics reported a 31.8% year-on-year decline in net profit to Rs 78.4 crore in Q2, compared with Rs 115 crore a year ago. Revenue increased 23.6% to Rs 680 crore from Rs 550 crore. However, EBITDA declined 24.9% to Rs 126 crore from Rs 167 crore, while EBITDA margin contracted sharply to 18.5% from 30.4% a year ago.

Welspun Corp expects its spiral pipe unit in the US to be ready by March 2028. The company said it is booked through FY29 in the US market, although it is seeing some calibration in US orders. It added that the project pipeline remains robust.

Domestic demand remains muted, with the water market under stress. The company is focusing on expanding its distribution channel in the Sintex business.

RattanIndia Power reported a net profit of Rs 38.4 crore in Q2, compared with a loss of Rs 31.6 crore a year ago. Revenue increased 7.5% year-on-year to Rs 702.9 crore from Rs 653.7 crore, while EBITDA surged 89.9% to Rs 98.1 crore from Rs 51.7 crore. EBITDA margin expanded to 14% from 7.9% a year ago.

Aditya Birla Capital reported a 38% year-on-year increase in net profit to Rs 1,288 crore in Q2, compared with Rs 933 crore a year ago. Revenue rose 32.4% to Rs 14,049 crore from Rs 10,609 crore. NBFC disbursements increased 12% year-on-year to Rs 24,708 crore, while NBFC assets under management (AUM) grew 26% to Rs 1.77 lakh crore as of September 30.

Sportking India reported net profit of Rs 96.4 crore in Q2, compared with Rs 28.3 crore a year ago. Revenue increased 24.6% year-on-year to Rs 781 crore from Rs 627 crore, while EBITDA rose to Rs 155 crore from Rs 64.8 crore. EBITDA margin expanded sharply to 19.8% from 10.3% a year ago.

Motilal Oswal Financial Services said non-broking revenue accounted for 65% of its wealth management segment in H1FY27. Recurring revenue in the wealth management business increased 10% year-on-year. The company plans to tap pension products and specialised investment funds in its asset management operations. Its market share in retail broking, including commodities, stood at 7% in Q2.

Dhanuka Agritech reported a 16.2% year-on-year increase in net profit to Rs 109 crore in Q2, compared with Rs 94 crore a year ago. Revenue rose 9.9% to Rs 658 crore from Rs 598 crore, while EBITDA increased 11.9% to Rs 153 crore from Rs 136 crore. EBITDA margin improved to 23.3% from 22.9% a year ago.

Welspun Living reported net profit of Rs 169 crore in Q2, compared with Rs 13 crore a year ago. Revenue increased 16.27% year-on-year to Rs 2,838 crore from Rs 2,441 crore, while EBITDA rose to Rs 338 crore from Rs 153 crore. EBITDA margin expanded sharply to 11.9% from 6.3% a year ago.

Vedanta Oil reported a 21.1% quarter-on-quarter decline in net profit to Rs 746 crore in Q2, compared with Rs 945 crore in the previous quarter. The company had reported a one-time loss of Rs 441 crore in Q1. Revenue declined 0.8% to Rs 2,488 crore from Rs 2,507 crore, while EBITDA increased 66% to Rs 1,351 crore from Rs 814 crore. EBITDA margin expanded to 54.3% from 32.5%.

Sharda Cropchem reported a 24.3% year-on-year increase in net profit to Rs 92 crore in Q2, compared with Rs 74 crore a year ago. Revenue rose 13.2% to Rs 1,052 crore from Rs 929 crore, while EBITDA increased 23.9% to Rs 163.9 crore from Rs 132.3 crore. EBITDA margin expanded to 15.6% from 14.2% a year ago.

Kirloskar Ferrous Industries reported an 18.5% quarter-on-quarter increase in net profit to Rs 97.5 crore in Q2, compared with Rs 82.3 crore in the previous quarter. Revenue rose 15.6% to Rs 2,047 crore from Rs 1,771 crore, while EBITDA increased 4.6% to Rs 224 crore from Rs 214 crore. EBITDA margin contracted to 10.9% from 12.1%. The company had reported a one-time loss of Rs 29.3 crore in Q1FY27.

Firstsource Solutions reported a 40.4% quarter-on-quarter increase in net profit to Rs 233 crore in Q2, compared with Rs 166 crore in the previous quarter. Revenue rose 2.9% to Rs 2,831 crore from Rs 2,752 crore, while EBIT declined 1.6% to Rs 358 crore from Rs 364 crore. EBIT margin contracted to 12.6% from 13.2%.

TTK Healthcare reported net profit of Rs 223 crore in Q2, compared with Rs 20.4 crore a year ago, aided by a one-time gain of Rs 248 crore during the quarter. Revenue increased 14.2% year-on-year to Rs 233 crore from Rs 204 crore. However, EBITDA declined 36.7% to Rs 3.8 crore from Rs 6 crore, while EBITDA margin contracted to 1.6% from 2.9%.

NOCIL reported a 99.2% year-on-year increase in net profit to Rs 24.1 crore in Q2, compared with Rs 12.1 crore a year ago. Revenue rose 33% to Rs 427 crore from Rs 321 crore, while EBITDA increased 55.1% to Rs 36.3 crore from Rs 23.4 crore. EBITDA margin expanded to 8.5% from 7.3%.

Intellect Design Arena reported a 1.8% quarter-on-quarter increase in net profit to Rs 104 crore in Q2, compared with Rs 102 crore in the previous quarter. Revenue was marginally higher at Rs 847 crore against Rs 845 crore. EBIT declined 1% to Rs 108 crore from Rs 109 crore, while EBIT margin contracted slightly to 12.8% from 12.9%.

Vimta Labs reported a 3.5% year-on-year increase in net profit to Rs 20.6 crore in Q2, compared with Rs 19.9 crore a year ago. Revenue rose 9.8% to Rs 112 crore from Rs 102 crore.

Praj Industries reported a 21.1% year-on-year increase in net profit to Rs 23 crore in Q2, compared with Rs 19 crore a year ago. Revenue was largely flat, rising 0.8% to Rs 849 crore from Rs 842 crore. EBITDA declined 8.1% to Rs 52.4 crore from Rs 57 crore, while EBITDA margin fell to 6.2% from 6.8%.

Ajanta Pharma reported a 49.2% year-on-year increase in net profit to Rs 388 crore in Q2, compared with Rs 260 crore a year ago. Revenue rose 32.5% to Rs 1,794 crore from Rs 1,354 crore, while EBITDA surged 67% to Rs 548 crore from Rs 328 crore. EBITDA margin expanded significantly to 30.5% from 24.2% a year ago.

Blue Star reported a 25.2% year-on-year increase in net profit to Rs 123.9 crore in Q2, compared with Rs 99 crore a year ago. Revenue rose 21% to Rs 2,931 crore from Rs 2,422 crore. EBITDA increased 10.6% to Rs 203 crore from Rs 183.4 crore, while EBITDA margin contracted to 6.9% from 7.6%.

Gujarat Mineral Development Corporation (GMDC) reported a 4.9% quarter-on-quarter increase in net profit to Rs 171 crore in Q2, compared with Rs 163 crore in the previous quarter. Revenue was marginally lower at Rs 903 crore against Rs 907 crore, while EBITDA stood at Rs 191 crore compared with Rs 192 crore. EBITDA margin remained flat at 21.2%.

MTAR Technologies reported net profit of Rs 60 crore in Q2, compared with Rs 4 crore a year ago. Revenue increased to Rs 407 crore from Rs 136 crore, while EBITDA rose to Rs 99 crore from Rs 17 crore. EBITDA margin expanded to 24.3% from 12.5%. Separately, the NCLT Hyderabad bench approved the merger of three subsidiaries.

NIIT Learning Systems reported a 20.5% year-on-year decline in net profit to Rs 37.3 crore in Q2, compared with Rs 46.9 crore a year ago. Revenue increased 11.1% to Rs 529 crore from Rs 476 crore. EBITDA declined 14% to Rs 79.6 crore from Rs 92.6 crore, while EBITDA margin contracted to 15.1% from 19.5%.

Greenply Industries reported a 166.3% year-on-year increase in net profit to Rs 43 crore in Q2, compared with Rs 16 crore a year ago. Revenue rose 16.1% to Rs 800 crore from Rs 689 crore. EBITDA increased 56.2% to Rs 89 crore from Rs 57 crore, while EBITDA margin expanded to 11.2% from 8.3%.

Garware Technical Fibres reported an 84.4% year-on-year increase in net profit to Rs 59 crore in Q2, compared with Rs 32 crore a year ago. Revenue rose 33% to Rs 463 crore from Rs 348 crore, while EBITDA increased 65.3% to Rs 80 crore from Rs 48.4 crore. EBITDA margin improved to 17.3% from 13.9%.

Thyrocare Technologies reported a 66.9% year-on-year decline in net profit to Rs 15.9 crore in Q2, compared with Rs 48 crore a year ago. Revenue rose 25.1% to Rs 271 crore from Rs 216.5 crore. EBITDA increased 25.3% to Rs 89.3 crore from Rs 71.3 crore, while EBITDA margin remained largely stable at 33% against 32.9%.

Suzlon Energy reported a 69.2% year-on-year decline in net profit to Rs 394 crore in Q2, compared with Rs 1,279 crore a year ago. Revenue increased 25.9% to Rs 4,875 crore from Rs 3,871 crore. EBITDA was marginally lower at Rs 719 crore against Rs 721 crore, while EBITDA margin contracted to 14.7% from 18.6%.

InterGlobe Aviation, which operates IndiGo, reported a net loss of Rs 1,879 crore in Q2, compared with a loss of Rs 2,582 crore a year ago. Revenue increased 25.9% year-on-year to Rs 23,364 crore from Rs 18,555 crore. EBITDA stood at Rs 1,908 crore against Rs 579 crore, while EBITDA margin improved to 8.2% from 3.1%. EBITDAR declined 3% to Rs 3,667 crore from Rs 3,792 crore, with its margin falling to 15.7% from 20.4%.

Aether Industries reported a 25.9% year-on-year increase in net profit to Rs 68 crore in Q2, compared with Rs 54 crore a year ago. Revenue rose 23.9% to Rs 347 crore from Rs 280 crore, while EBITDA increased 25.4% to Rs 110 crore from Rs 87.7 crore. EBITDA margin improved to 31.7% from 31.3% a year ago.

Godrej Consumer Products reported a 13.9% year-on-year increase in net profit to Rs 523 crore in Q2, compared with Rs 459 crore a year ago. Revenue rose 19% to Rs 4,413 crore from Rs 3,708 crore. EBITDA increased 11.7% to Rs 820 crore from Rs 734 crore, while EBITDA margin contracted to 18.6% from 19.8%.

Varun Beverages reported a 13.7% year-on-year increase in net profit to Rs 828 crore in Q3, compared with Rs 728 crore a year ago. The figure was higher than the estimated Rs 791 crore. Revenue rose 33.3% to Rs 6,816 crore from Rs 5,112 crore, beating the estimate of Rs 6,078 crore.

EBITDA increased 32.2% year-on-year to Rs 1,507 crore from Rs 1,140 crore, ahead of the estimate of Rs 1,386 crore. However, EBITDA margin came in at 21.6%, below the estimated 22.8%.

PN Gadgil reported a 53.2% year-on-year increase in net profit to Rs 121 crore in Q2, compared with Rs 79 crore a year ago. Revenue rose 22.4% to Rs 2,666 crore from Rs 2,178 crore, while EBITDA surged 91.7% to Rs 207 crore from Rs 108 crore. EBITDA margin expanded to 7.8% from 5%.

Trent reported an 8.6% year-on-year increase in net profit to Rs 490 crore in Q2, compared with Rs 451 crore a year ago. Revenue rose 22.5% to Rs 5,788 crore from Rs 4,724 crore, while EBITDA increased 29.6% to Rs 1,054 crore from Rs 813 crore. EBITDA margin expanded to 18.2% from 17.2%.

Smartworks Coworking reported a net profit of Rs 25.6 crore in Q2, compared with a loss of Rs 3.1 crore a year ago. Revenue increased 39.1% year-on-year to Rs 591 crore from Rs 425 crore, while EBITDA rose 39.4% to Rs 378 crore from Rs 271 crore. EBITDA margin remained largely stable at 63.9% against 63.7% a year ago.

Dixon Technologies is expected to report a 32% year-on-year increase in consolidated revenue to Rs 19,208 crore in Q2FY27, compared with Rs 14,550 crore. However, EBITDA is estimated to remain flat at Rs 560 crore against Rs 561 crore, while EBITDA margin may contract 100 basis points to 2.9% from 3.9%. Net profit is projected to decline 10% to Rs 290 crore from Rs 323 crore.

What To Expect

Margin pressure is expected to remain a key concern, following a weak Q1FY27 when mobile volumes declined 22% year-on-year and operating profit fell 6%. Macquarie attributed the margin compression to the first quarter without PLI support and general input cost inflation.

Dixon is expected to gain market share despite an anticipated decline in industry volumes in Q2. However, lower overall volumes could weigh on margins.

Key Things To Watch

• Mobile volume performance and market share gains.

• Management's FY27 volume guidance of 32-33 million units, excluding Vivo.

• Progress against the H1 volume guidance of 16.5 million units.

• Impact of lower industry volumes on margins and profitability.

Syrma SGS Technology is expected to report a 47% year-on-year increase in consolidated revenue to Rs 1,688 crore in Q2FY27, compared with Rs 1,145 crore. EBITDA is estimated to rise 45% to Rs 167 crore from Rs 115 crore, while EBITDA margin may contract marginally to 9.9% from 10%. Net profit is projected to jump 59% to Rs 102 crore from Rs 64 crore.

What To Watch

The automotive and industrial segments are expected to lead growth, while export momentum is likely to remain strong, similar to the previous quarter. The company has maintained its FY27 revenue growth guidance of 30-35%. In Q1FY27, the board approved an enabling resolution to raise up to Rs 1,000 crore. Brokerages expect Syrma SGS to deliver the strongest earnings performance among EMS companies.

Key Things To Watch

• Performance of the automotive and industrial segments.

• Sustainability of export momentum.

• Utilisation and plans around the proposed Rs 1,000 crore fundraise.

• Progress against FY27 growth guidance of 30-35%.

Bharat Electronics (BEL) is expected to report standalone revenue of Rs 6,528 crore in Q2FY27, with EBITDA estimated at Rs 1,791 crore and an EBITDA margin of 27.43%. Net profit is projected at Rs 1,345 crore. The company is expected to maintain steady execution, with margins at the upper end of its guided range.

What To Expect

BEL's order backlog of Rs 74,000 crore is expected to provide medium-term revenue visibility. Margins could benefit from operational efficiencies and higher localisation. However, year-to-date order inflows of Rs 7,300 crore are down 44% year-on-year.

Key Things To Watch

• Execution of the existing order book.

• Management commentary on the Rs 30,000 crore QRSAM order.

• Order inflow guidance.

Varun Beverages is expected to report a 24% year-on-year increase in revenue to Rs 6,078 crore in Q3CY26, compared with Rs 4,897 crore. EBITDA is estimated to rise 21% to Rs 1,386 crore from Rs 1,147 crore, while EBITDA margin may contract to 22.8% from 23.4%. Net profit is projected to increase 7% to Rs 791 crore from Rs 741 crore.

What To Expect

Revenue growth is expected to be supported by expansion in international markets, while the El Nino weather phenomenon could aid volumes. However, pricing pressure may persist amid competition. Revenue growth is likely to outpace operating profit growth, although operating leverage and cost controls could provide some support to EBITDA margins.

Key Things To Watch

• Management commentary on the alcoholic beverages business.

• International expansion, including recent acquisitions and distribution moves.

• Price hikes implemented and planned going forward.

• Volume growth.

Reliance Industries is expected to report a 1.4% quarter-on-quarter increase in consolidated revenue to Rs 3,13,700 crore in Q2FY27, compared with Rs 3,09,468 crore. EBITDA is estimated to rise 9% to Rs 51,942 crore from Rs 47,517 crore, with margins expanding to 16.6% from 15.4%. Net profit is seen increasing 2% to Rs 21,368 crore from Rs 20,946 crore.

Segmental Outlook

The oil-to-chemicals (O2C) business is expected to lead the sequential growth, with EBITDA projected to rise 18% to Rs 20,082 crore from Rs 17,010 crore. The segment is likely to benefit from strong SEZ refinery earnings, no windfall tax impact, US ethane-based petrochemicals and a weaker rupee.

Retail EBITDA is estimated to increase 7% to Rs 6,784 crore from Rs 6,309 crore, although the business may report relatively muted performance and lower margins due to the shift in the festive season. Oil and gas EBITDA is expected to remain flat at Rs 4,973 crore, while digital services EBITDA is seen rising 3% to Rs 21,889 crore from Rs 21,255 crore, indicating steady sequential growth at Jio.

Key Things To Watch

• Management commentary on crude sourcing strategy.

• Refining and petrochemical margin outlook.

• Recovery in retail growth and margins.

• Outlook for the new energy business.

• Commentary on a possible tariff hike ahead of the Jio IPO.

• JioFiber growth.

• Capex plans and debt levels.

Sun Pharmaceutical Industries is expected to report consolidated revenue of Rs 15,766 crore in Q2FY27, up 9% year-on-year from Rs 14,478 crore. Net profit is estimated to decline 1% to Rs 3,085 crore from Rs 3,118 crore, while EBITDA is seen falling 3% to Rs 4,403 crore from Rs 4,527 crore. EBITDA margin is projected to contract to 27.9% from 31.3% a year ago.

What To Expect

Sun Pharma is expected to deliver high single-digit growth, led by its domestic business, emerging markets (EM) and the rest of the world (RoW), partly offset by the US generics business.

US sales are estimated at $455 million, compared with $496 million a year ago and $427 million in the previous quarter. Specialty sales are expected to remain healthy, with growth of 14-15% to around $333 million. The domestic business is projected to grow 15-16%, supported by traction in the chronic portfolio, including generic semaglutide. Emerging markets and RoW sales are expected to grow around 12% and 6%, respectively.

Key Things To Watch

• Closure of the Organon acquisition and the associated debt funding.

• Ramp-up of key drugs Unloxcyt and Leqselvi.

Reliance Industries, Jio Platforms, Sun Pharmaceutical Industries, Bharat Electronics, Indian Oil Corporation, Varun Beverages, GAIL India, Dixon Technologies, PB Fintech, Max Healthcare Institute, Lodha Developers, Ajanta Pharma, Navin Fluorine International, Delhivery, Sun TV Network and Welspun Living are among the key earnings announcements to watch as 213 companies report their Q2 FY27 results on Friday, October 30.

Follow this live blog for quarterly earnings updates, key financial numbers, management commentary and stock-specific developments.