Q2 Results today: Hindalco, M&M, ONGC, Coal India, others to announce Q2 earnings
Q2 Results: Today, a handful of major companies will be releasing their Q2 results, including Coal India Ltd, Eicher Motors Ltd, Hindalco Industries Ltd, Oil And Natural Gas Corporation Ltd (ONGC), and Mahindra & Mahindra Ltd (M&M).

Q2 Results today: Among the slew of companies announcing their Q2 results, investors would focus on Coal India Ltd, Eicher Motors Ltd, Hindalco Industries Ltd, Oil And Natural Gas Corporation Ltd (ONGC), and Mahindra & Mahindra Ltd (M&M). Domestic equity indices, Sensex and Nifty 50 are likely to witness a weak opening on the backdrop of subdued global cues.
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A total of 581 companies will be reporting their Q2 earnings today, as per data available on BSE.
Among the companies that will release their Q2 earnings today are Allcargo Logistics Ltd, Biocon Ltd, Fortis Healthcare Ltd, Galaxy Surfactants Ltd, Glenmark Pharmaceuticals Ltd, Hindustan Aeronautics Ltd, Ipca Laboratories Ltd, Mahanagar Telephone Nigam Ltd, PTC India Ltd, Ramco Industries Ltd, Reliance Communications Ltd, and Steel Authority Of India Ltd (SAIL).
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Hindalco Industries Ltd
Hindalco Industries Ltd is expected to report a net profit of ₹2,300 crore in the quarter ended September 2023, registering a YoY growth of 2.8%. Revenue is expected to drop 15% YoY to ₹47,800 crore, while EBITDA is estimated to rise 1.4% YoY to ₹5,400 crore, according to Motilal Oswal Financial Services.
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The brokerage states that a sequential fall of 5%/17%/27% in Revenue/EBITDA/APAT is anticipated for the metals industry. The decline in ASP, the low prices of ferrous and LME, the seasonally sluggish quarter, and the unpredictability of the global macroeconomic environment are the reasons for this decline. Ferrous, non-ferrous, and mining companies were expected to report mixed results by the brokerage.
"Novelis EBITDA/t guidance is crucial. Timeline on commissioning of multiple capex is crucial. We await management guidance on domestic Aluminum demand along with the hedging position," the brokerage said.
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M&M
M&M is expected to see decent revenue growth in Q2FY24 on the back of strong volumes, while margins may remain under pressure sequentially due to unfavorable mix.
M&M’s total volume growth remained strong in Q2FY24 led by improving supply chain and execution of order books. However, weakness was seen in tractor volumes. The company’s total volume growth during the quarter was 11% YoY at 302,139 units.
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Revenue in the quarter ended September 2023 is expected to rise 19% to ₹25,000 crore from ₹21,010 crore in the corresponding quarter of last fiscal year, as per average estimates of five brokerages.
The company’s net profit during the quarter is expected to rise 27% to ₹2,944.2 crore from ₹2,315.9 crore, YoY.
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Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
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