ITC, Swiggy, Cipla, Hyundai, United Spirits, NTPC, Q2 Results Today — Earnings Estimates

Aditya Birla Capital Ltd., Cipla Ltd., Swiggy Ltd., NTPC Ltd., ITC Ltd. and Hyundai Motor India Ltd. are among the top names that will announce their quarterly results on Thursday.

Cipla is likely to clock a rise in net profit to Rs 1,345.6 crore and a revenue of Rs 7,438.5 crore for the quarter ended September, according to a survey of analysts' estimates done by Bloomberg.

ITC will also be reporting its results for the second quarter of fiscal 2026. The company is likely to report a net profit of Rs 21,152.8 crore and revenue of Rs 81,392.6 crore, according to estimates.

Here are what analysts are expecting from these major names:

FMCG heavyweight ITC Ltd. is set to announce its financial results for the September quarter on Thursday. Brokerages remain broadly constructive on ITC, driven by steady cigarette demand and gradual improvement in the FMCG business.

Brokerages expect commentary from FMCG companies to centre on the extent of GST-related trade disruption and its impact on volumes, particularly in rural markets. Analysts say demand normalisation, margin trends amid stable input costs, and early festive-season indicators will be key to assessing the recovery trajectory.

Brokerages expect soft growth in Q2FY26 for pharma companies as waning gRevlimid sales, a weak acute season in India, and GST-related de-stocking weigh on growth.

Revenue growth is projected between 7–10% YoY, while earnings may rise only 4–5%, reflecting margin pressure.

1. Fading gRevlimid Opportunity: Lower US sales of gRevlimid are a major drag for Dr. Reddy’s, Zydus, Aurobindo, and Cipla.

2. GST Impact in India: Channel de-stocking in September 2025 post-GST revision hit billing for 15–20 days.

3. Weak Acute Season: Slower demand for acute therapies further curbed growth.

4. Margin Pressure: JM Financial expects low 20% EBITDA margins; ICICI Securities projects 25% margin for coverage companies.