On Monday, 19 May 2025, investors will closely watch the quarterly earnings announcements of over 100 companies, marking the start of a significant earnings week in the Indian stock market. Among the 104 firms scheduled to release their Q4FY25 results today are major players such as Power Grid Corporation of India (PGCIL), DLF, Pfizer, New India Assurance, NLC India, PI Industries, Borosil, Everest Industries, and Gujarat Gas.
This week, more than 500 companies are set to declare their March quarter results, including marquee names like ONGC, Bharat Electronics (BEL), Interglobe Aviation (IndiGo), Hindalco, Dixon Technologies India, Dredging Corporation of India, and Piccadily Agro Industries. The volume and diversity of these announcements are expected to provide crucial insights into the health of various sectors and the broader economy.
Power Grid Corporation of India: A Key Focus
Power Grid Corporation of India (PGCIL), a government-owned entity and a bellwether for the power transmission sector, is anticipated to report a modest profit growth for Q4FY25. According to brokerage estimates, PGCIL may post a net profit of around Rs 4,313 crore, reflecting a 4.5% year-on-year increase. This comes amid a 4.2% rise in India’s power demand during the quarter, reaching 41,800 crore units. While demand was subdued in the initial months, a surge in March and the forecast of an extended heatwave are expected to sustain strong power consumption going forward.
Operating expenses are projected to decline by 3-4%, which should help improve EBITDA margins by about 3%, despite flat revenue growth. Investors will also be watching for updates on capital expenditure plans and future demand projections, which are critical for the company’s long-term growth trajectory.
Market Sentiment and Broader Earnings Outlook
The Indian equity markets are expected to open lower on Monday, influenced by weak global cues and profit-taking after a recent rally. On Friday, the Sensex closed down 200.15 points (0.24%) at 82,330.59, while the Nifty 50 slipped 42.30 points (0.17%) to 25,019.80. Market participants are adopting a cautious stance ahead of the earnings deluge and awaiting clarity on geopolitical tensions and trade agreements.
Siddhartha Khemka, Head of Research at Motilal Oswal Financial Services, suggests that the market is likely to experience broader consolidation with a positive bias. This optimism is underpinned by easing geopolitical risks, progress in trade negotiations, and signs of macroeconomic stability.
Other Notable Earnings Releases Today
DLF: The real estate giant will report its Q4 results, which are expected to reflect steady revenue growth amid improving demand in the residential and commercial segments.
Pfizer: The pharmaceutical major’s results will be scrutinised for updates on product pipelines and global market performance.
New India Assurance: As a leading public sector insurer, its earnings will provide insights into the insurance sector’s recovery and underwriting performance.
NLC India: The coal mining and power generation company’s results will be watched for operational efficiencies and impact of fuel supply dynamics.
PI Industries: A key player in agrochemicals, its earnings will offer clues on the rural economy and input cost pressures.
Borosil and Everest Industries: These companies’ results will shed light on the glass and construction materials sectors, respectively.
Sectoral Implications and Investor Strategy
The earnings season is expected to highlight the resilience of sectors such as power, infrastructure, pharmaceuticals, and agrochemicals, while also revealing challenges in areas like real estate and insurance. With over 500 companies reporting this week, investors will have ample data to reassess portfolio allocations.
Given the mixed global environment and domestic factors, analysts advise a cautious but constructive approach. Monitoring earnings surprises, management commentary, and guidance will be key to navigating the market in the coming days.
