Indian equities saw a mixed trading session for several prominent companies as investors awaited their first-quarter financial results. Kaynes Technology India Ltd, Inox Wind Ltd, Titan Company Ltd, and Oil India Ltd shares exhibited rangebound movement in anticipation of their June quarter earnings reports.
Kaynes Technology India Ltd: Margin Contraction Expected
Analysts at Kotak Institutional Equities project a 220 basis points margin contraction for Kaynes Technology, primarily due to a reduced contribution from its higher-margin smart meter segment. Despite this, the company is expected to deliver approximately 30 percent year-on-year revenue growth in Q1FY27, fueled by strong performance across its Industrial, EV, and Automotive sectors.
The stock was trading 0.65 percent higher at Rs 3,846.80. Investor focus will likely center on working capital trends and operating cash flow generation, crucial metrics amidst the company’s ongoing growth trajectory.
Inox Wind Ltd: Seasonal Headwinds and Execution Constraints
Inox Wind saw its shares decline by 1.26 percent to Rs 77.51. Systematix forecasts consolidated revenue of Rs 900 crore for Inox Wind in Q1FY27, marking a 9 percent year-on-year increase but a 28 percent quarter-on-quarter dip. This estimate is based on the execution of around 170MW during the quarter, reflecting a 16 percent year-on-year growth but a 43 percent quarter-on-quarter decline. Analysts attribute the quarterly drop to typical seasonality and near-term execution challenges.
Consolidated EBITDA, excluding other income, is projected at Rs 190 crore, up 3 percent year-on-year but down 5 percent quarter-on-quarter, with an implied EBITDA margin of approximately 21 percent.
Titan Company Ltd: Strong Jewellery Sales Drive Growth
Shares of Titan Company remained largely flat at Rs 4,980.30. HDFC Securities highlighted Titan's robust 41 percent year-on-year revenue growth reported in its quarterly update. Domestic jewellery sales, excluding bullion, surged by 39 percent year-on-year, driven by significant double-digit growth in both ticket size and buyer numbers. The Watches, Eyewear, and other segments also showed strong growth, expanding by 23 percent, 23 percent, and 19 percent year-on-year, respectively.
Analysts anticipate a 9.3 percent EBIT margin at the company level, with specific projections of 9.4 percent for jewellery, 17 percent for watches, and 9 percent for eyewear.
Oil India Ltd: Production Boost and Higher Realizations
Oil India's stock fell by 1.52 percent to Rs 439.60. Despite the slight dip, the company is expected to report strong production growth for the quarter, with oil and gas output projected to increase by 6.6 percent and 0.8 percent quarter-on-quarter, respectively.
EBITDA for Oil India is anticipated to rise significantly by 98 percent quarter-on-quarter to Rs 3,900 crore, supported by favorable realizations and a weaker rupee, according to market forecasts.