Q3 results today: Around 295 companies are scheduled to declare their December quarter results on Wednesday, February 11, in the fifth week of Q3 earnings season.
Mahindra & Mahindra (M&M), Lenskart Solutions, Ashok Leyland, LG Electronics, Max Financial, SJVN and Divis Labs are among the companies to release their Q3 results 2026 today.
The ongoing Q3 earnings will continue to drive the Indian stock market this week, according to market experts.
“Among earnings, key results due tomorrow include M&M, Divi’s Labs, Ashok Leyland, LG Electronics and Max Financials. Overall, markets are likely to maintain a gradual upward bias, with stock-specific action expected to intensify as the Q3 earnings season enters its final leg. US export-oriented companies, following the recent trade deal, along with metal stocks, are likely to remain in focus,” said Siddhartha Khemka, Head of Research, Wealth. Management, Motilal Oswal Financial Services Ltd.
Brokerage firm Motilal Oswal expects M&M to post a strong 32% year-on-year (YoY) growth in earnings in the third quarter. Meanwhile, it anticipates that other income is likely to be boosted by gains from the RBL stake sale in Q3.
“While auto volume growth has been strong, a few adverse factors to note are: 1) rising discounts QoQ, 2) adverse mix, and 3) rising input costs. As a result, we factor in marginal margin expansion QoQ for the Auto segment,” the company said in a note.
Kotak Institutional Equities expect revenues to increase by 17% YoY in the December quarter FY26, led by 24% YoY increase in volumes and 6% YoY decline in ASPs.
“We expect EBITDA margin to increase by 15 bps yoy due to (1) favorable net pricing and (2) operating leverage benefit, partially offset by (1) weaker segmental mix and (2) commodity headwinds,” the firm said.
Motilal Oswal said that revenue is estimated to decline 5% YoY. Meanwhile, it further anticipates that revenue from the H&A Division/HE Division is estimated to decline 5% YoY.
“EBITDA is estimated to decline ~23% YoY, while OPM is expected to decline 1.5pp YoY to ~6%. Adj. PAT is estimated to decline ~23% YoY to INR1.8b,” the firm said.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
