Q4 Results Live Updates: One Mobikwik Revenue Remains Flat; All Eyes On Dixon Tech

Dr Reddys Q4FY26 Preview

• Revenue may fall 3.2% at Rs 8248 vs Rs 8528 cr
• Ebitda may fall 24.5% at Rs 1507 cr vs Rs 1998 cr
• Ebitda margin expected at 18.3% vs 23%
• Net profit may fall 45% at Rs 871 cr vs Rs 1587 cr

Weak Quarter Expected

• Q4FY26 likely weak with pressure from US and adverse product mix

US Business – Sharp Decline

• Expected to fall ~35% YoY to ~$269mn due to gRevlimid cliff and weak base portfolio
• QoQ decline also sharp with revenues falling ~$99mn to ~$239mn
• No meaningful new launches and no gRevlimid contribution in some estimates
• Shelf stock adjustment (SSA) on gRevlimid to further impact sales and margins

• Total production down 1% at 21.18 lakh tonnes YoY 
• India production down 1% at 20.4 lakh tonnes YoY 
• US production down 7% at 0.8 lakhs tonnes YoY

Sandur Manganese to NDTV Profit on Q4 earnings

• Q4 Was Among Strong Quarters For Co 
• Expect Good Demand For Steel Industry
• Prices Started Rebounding In Q4
•  Mfg Cos Have Started Showing Signs Of Rebounding
• Expect To Grow More In Specialty Steel Space 
• Have Crossed `5,000 Cr Topline For First-Time Ever
•  We Have Conversion Agreements In Place 
• Manganese Ore Among Major Products For Us
•  India Is A Net Importer Of Manganese Ore 
• We Are In The Core Raw Material Space
•  Always Focused On Integrating Ore To Finished Pdts

• Q4 FY25 profits had fair value gains of Rs. 250 cr
• Exceptional gain due to Fair value gain of investments in Aditya Vision
• Adverse operating leverage and weak mobiles volumes to hamper growth

 

Vivo JV: Key Monitorable

• Company had signed aggrement with Vivo for JV on 15^th December 2024
• Still awaiting approval for JV
• Vivo JV will take 45-60 days for ramp as per mgmt
• Vivo JV Accounts for 10mn volume guidance in FY27

Dixon Tech Q4 Preview

• Revenue expected to rise 2% at Rs 10,478 cr vs Rs 10,292 cr
• EBITDA expected to fall 9% at Rs 399 cr vs Rs 440 cr
• Margin expected to fall 40 bps at 3.8% vs 4.3%
• Net profit expected to fall 54% at Rs 182 cr vs Rs 399 cr

It is perhaps needless to say that Dixon Tech will be the earnings to keep an eye out today. 

A company that is heavily reliant on mobile volumes, how much of an impact weak volumes may have on Dixon Tech is a key monitorable. 

One MobiKwik has already started the day by reporting its March quarter earnings, not too long after the company received an RBI approval for its NBFC license 

One MobiKwik Q4FY26 (Cons, QoQ)

• Net Profit up 10% at Rs 4.4 crore versus Rs 4 crore
• Revenue flat at Rs 289 crore
• EBIT up 48.5% at Rs 10.1 crore versus Rs 6.8 crore
• EBIT Margin at 3.5% versus 2.4%

Hello and welcome. This is Anas here and I will be taking you through the day's action, before my colleague Khushi joins in later in the day. 

More than 100 companies are set to announce their March-quarter results today, so expect an action-packed 12 hours coming your way.