ONGC, Divis Labs, Motherson Sumi, Oil India, India Cements among major Q3 earnings today

11 Feb 2022 , 10:03 AM

ONGC, Divis Labs, Ashok Leyland, Motherson Sumi Systems, Oil India, India Cements, Glenmark Pharmaceuticals, Godrej Industries, NHPC, Power Finance Corporation and Sobha were some of the major companies that are set to announce their financial performance for the quarter ending December 2021 (Q3FY22), on Friday.

In Q3FY22, state-owned ONGC is expected to witness robust growth in profitability on a year-on-year basis due to a rise in commodity prices, however, on a sequential basis, the profit may decline on the back of a higher base of Q2FY22 wherein the company had a negative tax outgo. Crude oil and gas production is likely to slip, while the strong surge in realizations on a YoY basis is expected due to higher average crude oil prices. Broadly, the company will witness a stellar performance on a YoY basis.

Meanwhile, Divis Lab is likely to post a good set of numbers in Q3 as revenue may increase by 48% YoY driven by QoQ increase in Molnupiravir revenue from ~USD35m to ~USD100m. Excluding Molnupiravir, the company’s base business revenue could grow only 5% YoY in Q3. The company’s EBITDA could increase 52% as compared to the year-ago quarter. PAT is likely to come higher by 57% YoY to Rs7,388 million.

Other companies that will announce their Q3  today as well are – Allcargo Logistics, Anupam Rasayan, Apollo Hospitals Enterprise, Arvind Fashions, Bajaj Hindusthan Sugar, Balaji Telefilms, Mrs Bectors Food Specialities, Brookfield India Real Estate Trust REIT, Dhanlaxmi Bank, Force Motors, Fortis Healthcare, Honeywell Automation, HUDCO, Indigo Paints, Inox Wind, Jaiprakash Power Ventures, Kalpataru Power Transmission, Mazagon Dock Shipbuilders, Metropolis Healthcare, MOIL, Nazara Technologies, Puravankara, RateGain Travel Technologies, Shree Renuka Sugars, Sapphire Foods, Shriram EPC, Sobha, Star Health and Allied Insurance Company, Ujjivan Financial Services, Voltas, and VA Tech Wabag.

Friday’s trading session was a bloodbath as bears ran over Indian markets on a broader term. Deep red shade took over every sectoral index on BSE and NSE. The selloff in domestic equities comes after RBI’s monetary policy outcome where repo rate and stance were kept unchanged at 4% and accommodative once again on an expected line. However, panic profit booking emerged amid weak global cues that were an aftershock of US inflation which has hit a 40-year high to 7.5% – fueling expectations of policy tightening and aggressive rate hikes ahead. IT, Banking, Consumer Durables, Capital Goods, Pharma, Financials and FMCG stocks were worst hit. Midcap and SmallCap stocks witnessed sharp selling pressure as well.