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01Management sentiment across this quarter's earnings calls
LiveFY27 Q2See whether management commentary is positive, cautious or neutral across Indian companies and sectors.
Management tone
79%positive
Positive · 57 of 72 companies · FY27 Q2
- 360ONE360 ONE WAM Ltd.
- ANANDRATHIAnand Rathi Wealth Ltd.
- ANGELONEAngel One Ltd.
- ARSSBLANAND RATHI SHARE AND STOCK BROKERS LIMITED
- AURUMAurum PropTech Limited
- BAJAJCONBAJAJ CONSUMER CARE LIMITED
- BAJAJHFLBajaj Housing Finance Ltd.
- BAJFINANCEBajaj Finance Ltd.
- CANBKCanara Bank
- CANHLIFECanara HSBC Life Insurance Company Ltd.
- CCLCCL Products (I) Ltd.
- CENTRALBKCentral Bank of India
- CYIENTDLMCyient DLM Ltd.
- DLFDLF Ltd.
- E2EE2E Networks Limited
- ELECONElecon Engineering Co. Ltd.
- EMMVEEEmmvee Photovoltaic Power Ltd.
- FEDFINAFedbank Financial Services Ltd.
- HAVELLSHavells India Ltd.
- HCLTECHHCL Technologies Ltd.
- HDBFSHDB Financial Services Ltd.
- HDFCAMCHDFC Asset Management Company Ltd.
- HDFCBANKHDFC Bank Ltd.
- HDFCLIFEHDFC Life Insurance Company Ltd.
- HERITGFOODHeritage Foods Ltd.
- HINDZINCHindustan Zinc Ltd.
- ICICIAMCICICI Prudential Asset Management Company Ltd.
- ICICIBANKICICI Bank Ltd.
- ICICIGIICICI Lombard General Insurance Company Ltd.
- ICICIPRULIICICI Prudential Life Insurance Company Ltd.
- IIFLIIFL Finance Ltd.
- INDIANBIndian Bank
- IRFCIndian Railway Finance Corporation Ltd.
- JIOFINJio Financial Services Ltd.
- KARURVYSYAKarur Vysya Bank Ltd.
- KROSSKross Limited
- LOTUSDEVSri Lotus Developers and Realty Ltd.
- ORIENTELECOrient Electric Limited
- PERSISTENTPersistent Systems Ltd.
- PIRAMALFINPiramal Finance Ltd.
- PNBPunjab National Bank
- POLYCABPolycab India Ltd.
- POONAWALLAPoonawalla Fincorp Ltd.
- RBLBANKRBL Bank Ltd.
- ROSSARIROSSARI BIOTECH LIMITED
- SGFINSG FINSERVE LIMITED
- SOLARASOLARA ACTIVE PHARMA SCIENCES LIMITED
- SOUTHBANKSouth Indian Bank Ltd.
- TARILTransformers And Rectifiers (India) Ltd.
- TATAELXSITata Elxsi Ltd.
- TATATECHTata Technologies Ltd.
- TECHMTech Mahindra Ltd.
- THELEELALeela Palaces Hotels & Resorts Ltd.
- TIPSMUSICTips Music Ltd.
- UCOBANKUCO Bank
- UJJIVANSFBUjjivan Small Finance Bank Ltd.
- URBANCOUrban Company Ltd.
Neutral · 13 of 72 companies · FY27 Q2
- 5PAISA5paisa Capital Limited
- CANFINHOMECan Fin Homes Ltd.
- CRAMCCanara Robeco Asset Management Company Ltd.
- DBCORPD.B.Corp Limited
- GROWWBillionbrains Garage Ventures Ltd.
- GTPLGTPL Hathway Limited
- LTMLTM Ltd.
- METROBRANDMetro Brands Limited
- SWSOLARSterling and Wilson Renewable Energy Ltd.
- TCSTata Consultancy Services Ltd.
- TEJASNETTejas Networks Ltd.
- WIPROWipro Ltd.
- YESBANKYes Bank Ltd.
Cautious · 2 of 72 companies · FY27 Q2
across 72 companies reported
Nifty 50 earnings-call tracker
Each square is one Nifty 50 company — 9 of 50 have reported. Pale squares have not held their call yet.
Positive share by quarter
A different set of companies reports each quarter, so these are separate readings rather than a trend.


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02Earnings call highlights
FY27 Q2Read concise earnings call summaries covering quarterly performance, management commentary, guidance and key risks.
- Quarter
- PAT +13%
- What changed
- Tone improved from FY27 Q1 to FY27 Q2
- Guidance
- FY27 APE Growth
- Tone
- Positive
- Key risk
- Equity market volatility pressuring unit-linked renewals
- Quarter
- Revenue +26.5%
- Guidance
- FY27 EBITDA Margin
- Tone
- Positive
- Key risk
- Memory market shortages and supply chain delays lengthening EMS lead times
- Quarter
- Revenue +13% · PAT ₹7.1 Cr
- Guidance
- Trendlyne Acquisition
- Tone
- Neutral
- Key risk
- Falling derivatives volumes and soft trading activity weighing on brokers
03Stock price reaction since the call
FY27 Q2See how each stock has moved from its earnings call-day close to the latest available close.
Fell since call · 172 of 211 priced
- ZAGGLEZaggle Prepaid Ocean Services Ltd.-47.0%
- MUTHOOTFINMuthoot Finance Ltd.-32.8%
- JWLJupiter Wagons Ltd.-30.8%
- SAMMAANCAPSammaan Capital Ltd.-28.9%
- VOLTASVoltas Ltd.-28.1%
- AURIONPROAurionpro Solution Ltd.-27.9%
- CYIENTDLMCyient DLM Ltd.-26.9%
- VMMVishal Mega Mart Ltd.-26.6%
- ABRELAditya Birla Real Estate Ltd.-25.7%
- TIINDIATube Investments of India Ltd.-24.1%
- FIRSTCRYBrainbees Solutions Ltd.-23.9%
- ENDURANCEEndurance Technologies Ltd.-22.8%
- NESTLEINDNestle India Ltd.-22.7%
- ATGLAdani Total Gas Ltd.-22.3%
- JINDALSAWJindal Saw Ltd.-21.5%
- GODREJPROPGodrej Properties Ltd.-21.2%
- CHOLAFINCholamandalam Investment and Finance Company Ltd.-20.8%
- DIXONDixon Technologies (India) Ltd.-20.3%
- MFSLMax Financial Services Ltd.-19.9%
- CHOLAHLDNGCholamandalam Financial Holdings Ltd.-19.9%
- LODHALodha Developers Ltd.-19.7%
- EIDPARRYE.I.D. Parry (India) Ltd.-19.6%
- AMBERAmber Enterprises India Ltd.-19.3%
- AFFLEAffle 3i Ltd.-19.0%
- DELHIVERYDelhivery Ltd.-18.8%
- E2EE2E Networks Limited-18.5%
- BAJAJFINSVBajaj Finserv Ltd.-18.4%
- ADANIENTAdani Enterprises Ltd.-18.1%
- MAXHEALTHMax Healthcare Institute Ltd.-17.8%
- JUBLFOODJubilant Foodworks Ltd.-17.8%
- RBLBANKRBL Bank Ltd.-17.2%
- NAVANava Ltd.-17.1%
- KPITTECHKPIT Technologies Ltd.-16.6%
- KIMSKrishna Institute of Medical Sciences Ltd.-16.4%
- ASIANPAINTAsian Paints Ltd.-16.4%
- EMMVEEEmmvee Photovoltaic Power Ltd.-16.4%
- SIEMENSSiemens Ltd.-16.3%
- URBANCOUrban Company Ltd.-16.0%
- ELGIEQUIPElgi Equipments Ltd.-15.9%
- AMBUJACEMAmbuja Cements Ltd.-15.8%
- MINDACORPMinda Corporation Ltd.-15.6%
- ASHOKLEYAshok Leyland Ltd.-15.5%
- ELECONElecon Engineering Co. Ltd.-15.5%
- BAJAJCONBAJAJ CONSUMER CARE LIMITED-15.3%
- RRKABELR R Kabel Ltd.-15.3%
- TRAVELFOODTravel Food Services Ltd.-14.5%
- ADANIPOWERAdani Power Ltd.-14.2%
- TEJASNETTejas Networks Ltd.-14.2%
- SWSOLARSterling and Wilson Renewable Energy Ltd.-14.1%
- SHRIRAMFINShriram Finance Ltd.-13.9%
- TITANTitan Company Ltd.-13.9%
- IEXIndian Energy Exchange Ltd.-13.9%
- TMCVTata Motors Ltd.-13.8%
- HERITGFOODHeritage Foods Ltd.-13.8%
- TMPVTata Motors Passenger Vehicles Ltd.-13.8%
- ARSSBLANAND RATHI SHARE AND STOCK BROKERS LIMITED-13.8%
- CUMMINSINDCummins India Ltd.-13.6%
- TATACAPTata Capital Ltd.-13.6%
- HINDALCOHindalco Industries Ltd.-13.5%
- BELRISEBelrise Industries Ltd.-13.4%
- HDBFSHDB Financial Services Ltd.-13.2%
- UNITDSPRUnited Spirits Ltd.-13.1%
- NHNarayana Hrudayalaya Ltd.-12.9%
- M&MMahindra & Mahindra Ltd.-12.9%
- MGLMahanagar Gas Ltd.-12.8%
- IRCTCIndian Railway Catering And Tourism Corporation Ltd.-12.4%
- GRASIMGrasim Industries Ltd.-12.4%
- ADANIENSOLAdani Energy Solutions Ltd.-12.3%
- SOLARASOLARA ACTIVE PHARMA SCIENCES LIMITED-12.2%
- SUNPHARMASun Pharmaceutical Industries Ltd.-12.2%
- TATATECHTata Technologies Ltd.-11.8%
- SBILIFESBI Life Insurance Company Ltd.-11.8%
- JINDALSTELJindal Steel Ltd.-11.5%
- TATACONSUMTata Consumer Products Ltd.-11.4%
- AUBANKAU Small Finance Bank Ltd.-11.3%
- DBCORPD.B.Corp Limited-11.1%
- IIFLIIFL Finance Ltd.-11.1%
- BELBharat Electronics Ltd.-11.1%
- CANHLIFECanara HSBC Life Insurance Company Ltd.-10.4%
- TATASTEELTata Steel Ltd.-10.3%
- HINDUNILVRHindustan Unilever Ltd.-10.3%
- NEWGENNewgen Software Technologies Ltd.-10.2%
- PRIVISCLPrivi Speciality Chemicals Ltd.-10.1%
- JSWCEMENTJSW Cement Ltd.-10.0%
- BRITANNIABritannia Industries Ltd.-10.0%
- CCLCCL Products (I) Ltd.-10.0%
- AEGISVOPAKAegis Vopak Terminals Ltd.-9.8%
- ICICIAMCICICI Prudential Asset Management Company Ltd.-9.7%
- HONASAHonasa Consumer Ltd.-9.4%
- POLYCABPolycab India Ltd.-9.3%
- RELIANCEReliance Industries Ltd.-9.1%
- SGFINSG FINSERVE LIMITED-9.1%
- INDIGOInterGlobe Aviation Ltd.-9.0%
- METROBRANDMetro Brands Limited-9.0%
- LENSKARTLenskart Solutions Ltd.-8.9%
- ANURASAnupam Rasayan India Ltd.-8.8%
- LOTUSDEVSri Lotus Developers and Realty Ltd.-8.4%
- EICHERMOTEicher Motors Ltd.-8.2%
- BOSCHLTDBosch Ltd.-8.2%
- UCOBANKUCO Bank-8.2%
- UJJIVANSFBUjjivan Small Finance Bank Ltd.-8.1%
- SCHNEIDERSchneider Electric Infrastructure Ltd.-8.1%
- VBLVarun Beverages Ltd.-8.0%
- ADANIGREENAdani Green Energy Ltd.-8.0%
- AURUMAurum PropTech Limited-8.0%
- TORNTPHARMTorrent Pharmaceuticals Ltd.-7.9%
- HINDZINCHindustan Zinc Ltd.-7.9%
- ALKEMAlkem Laboratories Ltd.-7.8%
- POONAWALLAPoonawalla Fincorp Ltd.-7.7%
- HYUNDAIHyundai Motor India Ltd.-7.5%
- BRIGADEBrigade Enterprises Ltd.-7.4%
- 5PAISA5paisa Capital Limited-7.3%
- GTPLGTPL Hathway Limited-7.2%
- ULTRACEMCOUltraTech Cement Ltd.-7.2%
- FLUOROCHEMGujarat Fluorochemicals Ltd.-7.2%
- POWERGRIDPower Grid Corporation of India Ltd.-7.1%
- BAJAJHFLBajaj Housing Finance Ltd.-7.1%
- ORIENTELECOrient Electric Limited-7.0%
- CENTRALBKCentral Bank of India-6.9%
- CANBKCanara Bank-6.9%
- LGEINDIALG Electronics India Ltd.-6.9%
- PAGEINDPage Industries Ltd.-6.9%
- GAILGAIL (India) Ltd.-6.8%
- HDFCAMCHDFC Asset Management Company Ltd.-6.8%
- JSLJindal Stainless Ltd.-6.7%
- ICICIGIICICI Lombard General Insurance Company Ltd.-6.7%
- ANGELONEAngel One Ltd.-6.6%
- CRAMCCanara Robeco Asset Management Company Ltd.-6.4%
- 360ONE360 ONE WAM Ltd.-6.4%
- YESBANKYes Bank Ltd.-6.4%
- JIOFINJio Financial Services Ltd.-6.4%
- MOTHERSONSamvardhana Motherson International Ltd.-6.4%
- BANKBARODABank of Baroda-6.3%
- TATAPOWERTata Power Co. Ltd.-6.3%
- IRFCIndian Railway Finance Corporation Ltd.-5.8%
- GROWWBillionbrains Garage Ventures Ltd.-5.7%
- ICICIPRULIICICI Prudential Life Insurance Company Ltd.-5.5%
- PIDILITINDPidilite Industries Ltd.-5.5%
- GICREGeneral Insurance Corporation of India-5.4%
- LTMLTM Ltd.-5.3%
- ROSSARIROSSARI BIOTECH LIMITED-5.2%
- CEATLTDCeat Ltd.-5.0%
- FEDFINAFedbank Financial Services Ltd.-5.0%
- RADICORadico Khaitan Ltd-4.9%
- HDFCLIFEHDFC Life Insurance Company Ltd.-4.9%
- SBINState Bank of India-4.7%
- KAYNESKaynes Technology India Ltd.-4.5%
- BHARTIARTLBharti Airtel Ltd.-4.3%
- NYKAAFSN E-Commerce Ventures Ltd.-4.0%
- CIPLACipla Ltd.-3.9%
- HAVELLSHavells India Ltd.-3.9%
- UNIONBANKUnion Bank of India-3.8%
- AXISBANKAxis Bank Ltd.-3.8%
- PIRAMALFINPiramal Finance Ltd.-3.8%
- CANFINHOMECan Fin Homes Ltd.-3.7%
- APOLLOApollo Micro Systems Ltd.-3.5%
- BAJAJ-AUTOBajaj Auto Ltd.-3.2%
- BAJFINANCEBajaj Finance Ltd.-3.0%
- KARURVYSYAKarur Vysya Bank Ltd.-2.7%
- HDFCBANKHDFC Bank Ltd.-2.7%
- SHREECEMShree Cement Ltd.-2.7%
- HEROMOTOCOHero MotoCorp Ltd.-2.4%
- ZYDUSLIFEZydus Lifesciences Ltd.-2.4%
- DLFDLF Ltd.-2.4%
- THELEELALeela Palaces Hotels & Resorts Ltd.-2.3%
- DATAPATTNSData Patterns (India) Ltd.-2.2%
- INOXINDIAINOX India Ltd.-2.0%
- PERSISTENTPersistent Systems Ltd.-1.9%
- AEGISLOGAegis Logistics Ltd.-1.4%
- GODREJCPGodrej Consumer Products Ltd.-0.6%
- PATANJALIPatanjali Foods Ltd.-0.5%
- TARILTransformers And Rectifiers (India) Ltd.-0.0%
Up since call · 39 of 211 priced
- PAYTMOne 97 Communications Ltd.+24.3%
- LAURUSLABSLaurus Labs Ltd.+23.0%
- TCSTata Consultancy Services Ltd.+22.5%
- SHILPAMEDShilpa Medicare Ltd.+19.8%
- FEDERALBNKFederal Bank Ltd.+19.7%
- MTARTECHMTAR Technologies Ltd.+18.5%
- HCLTECHHCL Technologies Ltd.+17.3%
- UNIMECHUnimech Aerospace and Manufacturing Ltd.+16.9%
- MEESHOMeesho Ltd.+13.7%
- ETERNALEternal Ltd.+11.6%
- NETWEBNetweb Technologies India Ltd.+10.4%
- INFYInfosys Ltd.+10.2%
- TECHMTech Mahindra Ltd.+9.4%
- INDHOTELIndian Hotels Co. Ltd.+9.2%
- WIPROWipro Ltd.+9.1%
- ATHERENERGAther Energy Ltd.+8.4%
- MPHASISMphasiS Ltd.+8.4%
- TATAELXSITata Elxsi Ltd.+8.0%
- ANANDRATHIAnand Rathi Wealth Ltd.+7.3%
- TIPSMUSICTips Music Ltd.+5.7%
- SAGILITYSagility Ltd.+5.6%
- TVSMOTORTVS Motor Company Ltd.+5.0%
- SONACOMSSona BLW Precision Forgings Ltd.+4.6%
- DIVISLABDivi's Laboratories Ltd.+4.3%
- SYRMASyrma SGS Technology Ltd.+4.1%
- BLACKBUCKBlackbuck Ltd.+3.8%
- APARINDSApar Industries Ltd.+3.5%
- PNBPunjab National Bank+3.5%
- TEGATega Industries Ltd.+3.4%
- KROSSKross Limited+3.0%
- IDFCFIRSTBIDFC First Bank Ltd.+2.9%
- PETRONETPetronet LNG Ltd.+2.5%
- PWLPhysicswallah Ltd.+2.4%
- SOUTHBANKSouth Indian Bank Ltd.+2.2%
- ICICIBANKICICI Bank Ltd.+1.0%
- GRWRHITECHGarware Hi-Tech Films Ltd.+0.9%
- ADANIPORTSAdani Ports and Special Economic Zone Ltd.+0.5%
- BLUESTONEBlueStone Jewellery and Lifestyle Ltd.+0.3%
- INDIANBIndian Bank+0.3%
of 211 companies with a price on file · median 71 days since the call
Each company’s previous call measured to the one that followed it — a complete window across 48 companies, mostly FY26 Q4, where this quarter’s is still open.
Call-day close vs latest close, across 211 companies. Latest close differs by company.
04Changes in management commentary since last quarter
FY27 Q2Track shifts in management tone, guidance, priorities and risks from one earnings call to the next.
Of 27 companies that reported this quarter and had a previous call to compare.
- DLFDLF Ltd.RealtyNeutralPositive
- HDFCLIFEHDFC Life Insurance Company Ltd.Financial ServicesCautiousPositive
- ICICIGIICICI Lombard General Insurance Company Ltd.Financial ServicesCautiousPositive
- TCSTata Consultancy Services Ltd.Information TechnologyCautiousNeutral
- TEJASNETTejas Networks Ltd.TelecommunicationCautiousNeutral
- WIPROWipro Ltd.Information TechnologyCautiousNeutral
- LTMLTM Ltd.Information TechnologyPositiveNeutral
- YESBANKYes Bank Ltd.Financial ServicesPositiveNeutral
05Key earnings call trends: headwinds and tailwinds
FY27 Q2Discover the recurring demand, cost, regulatory and macro themes shaping company outlooks.
Counts are distinct companies out of the 72 that named at least one force this quarter. Change is in percentage points of that share, not in companies — a different number of companies reports each quarter, so a raw count would mostly measure our coverage.
06Management guidance and strategic initiatives
FY27 Q2Track financial targets, capex plans, capacity expansion, product launches and strategic partnerships — 22 companies this quarter.
HDFC Life Insurance CompanySustain momentum and grow in line with the industry in FY27, with growth broad-based across channels
Cyient DLMHold EBITDA margin in a 9% to 10% range for FY27, at the higher end of single digits, while sales and product development investments are absorbed- SOLARA ACTIVE PHARMA SCIENCESConclude the strategic review of the ibuprofen business and announce the outcome and next steps within 12 weeks
- ROSSARI BIOTECHHold the EBITDA margin around 12% plus or minus for FY27, with improvement expected next year as pharma, aroma and other new lines mature
- Orient ElectricGrow revenue at more than a 15% annual CAGR, with a somewhat more aggressive number than earlier given, and let volume-led growth rise as a share of the total
- 5paisa CapitalIPO feature coming soon; collateral in one place and instant withdrawals up to ₹2 lakh
- Metro Brands₹225-250 Crabout ₹300-500 Cr at MRP, with about 80 stores
- KrossCold drawn tubes of ₹20-25 Cr follow because Jamshedpur has no outside cold drawing capacity
- CCL Products (I)about ₹500 Crlast time; a similar range is expected, with 9-12 months lead time
Ujjivan Small Finance BankFamily income above ₹3 lakh is classed as non-micro banking and will be a higher share
- ANAND RATHI SHARE AND STOCK BROKERSThe 12-month mutual fund ARN cooling period delayed commission earlier; trail is now building
- Emmvee Photovoltaic Powerabout ₹5,500 Crwith ₹828 Cr of debt drawn and interest capitalised until commissioning
HCL TechnologiesExpand AI services: agentic AI above $100 Mn a quarter; AI factory up 64% QoQ- Billionbrains Garage VenturesRivals cut brokerage by half or offer AI-led tools; Groww has added AI features and tools
Polycab IndiaOverall margin expanded about 90 bps sequentially in Wires and Cables
DLFA Mumbai launch is planned for Q3
WiproAI-native unit launched in April now has over 2,000 engineers, including forward deployed engineers- Canara Robeco Asset Management CompanyOne or two are to be launched sequentially over the next 6 to 12 months
- SG FINSERVECategory III equity AIF filed with SEBI; a wholly owned AMC will earn fees, with launch difficult this year
Indian BankCRM, launched in July, added about ₹1,500 Cr of business in the quarter
Showing 18 of 22 companies — the full register is on a wider screen.
07Learn how to analyse Indian stocks by sector
Understand the key metrics, business drivers and risks that matter when analysing each of 40 Indian market sectors.







