A mega earnings day is underway on Dalal Street as 139 companies listed on the Bombay Stock Exchange are lined up to post their Q1 FY26 results today, Thursday, July 31. With giants from nearly every major sector preparing to reveal their April-June numbers, this could be a defining day for gauging the early financial contours of India Inc. this fiscal year.
Market participants, still digesting the shock from the new 25% tariff the U.S. has slapped on Indian imports, are on edge. There’s more riding on today’s results than usual.
All Eyes on the Big Names
It’s a star-studded lineup, and investors know it. From FMCG to fintech, and pharma to EVs, some of India’s most influential players are on deck.
Hindustan Unilever Ltd (HUL) will be watched closely for cues on rural demand and margins. The market wants to see if cost rationalization efforts are paying off, especially as inflation creeps back into the consumer wallet.
Then there’s Maruti Suzuki. With EV competition rising and export channels facing fresh hurdles from U.S. trade policies, analysts are hungry for a solid volume story from the country’s biggest automaker.
Swiggy’s entry into the earnings fray is another talking point. This will be one of the rare public peeks into the foodtech platform’s post-pandemic trajectory.
Sun Pharma and Mankind Pharma will be under the microscope too—largely for U.S. generics performance and domestic demand growth.
What Investors Are Watching For
Expectations are cautiously optimistic. Most brokerage houses believe India Inc. might pull off decent year-on-year growth despite the global clouds. But it’s not just about earnings per share or revenue.
Investors are hungry for commentary.
Will cost pressures ease off? Are export orders slowing because of new U.S. duties? How’s urban demand holding up against mixed monsoon signals? These are the questions doing the rounds in D-Street’s WhatsApp groups and broker terminals today.
• Demand outlook for the festive season
• Margin trends in light of rising raw material prices
• Export disruptions due to U.S. tariffs
• Hiring trends, especially in consumer tech
Basically, the street wants management commentary to be as loud as the numbers themselves.
Sector Snapshot: Pharma, Auto, FMCG Lead the Pack
Pharmaceuticals have a mixed story brewing. Companies like Sun Pharma, Mankind Pharma, and Dr. Lal PathLabs are expected to post steady topline growth, though margins could be squeezed due to raw material imports and price controls in the U.S.
Auto majors such as TVS Motor, Maruti Suzuki, and Eicher Motors are likely to post decent volume growth. The EV buzz and rural demand rebound could act as tailwinds—if they’ve actually materialized on the ground.
In FMCG, it’s a bit of a wait-and-watch scenario.
HUL and Dabur India will face scrutiny on input cost trends, product mix changes, and rural sales recovery. Meanwhile, Gillette India and Emami could offer insight into discretionary spending patterns in Tier 1 and Tier 2 cities.
Full Roster of Q1 Players Makes a Market-Wide Statement
The size and spread of today’s list speak volumes. Beyond the front-runners, a whole bunch of midcaps and niche players are also revealing their Q1 cards.
From PB Fintech (PolicyBazaar) to JSW Energy and Adani Enterprises, the numbers from these companies will help paint a broader economic picture.
Then there are names like:
| Company | Sector |
|---|---|
| Coal India | Energy/Commodities |
| Vedanta | Metals & Mining |
| Ambuja Cements | Infrastructure |
| Swiggy | Consumer Tech |
| Radico Khaitan | Alcohol & Beverages |
| One Mobikwik Systems | Fintech/Digital Wallets |
This table only scratches the surface. The mix includes everything from health insurance (Niva Bupa) to hospitality (Barbeque Nation, Royal Orchid Hotels), making today’s results a sort of economic X-ray for India.
Investors will be poring over numbers, yes—but they’ll also be scanning transcripts for keywords like “exports,” “margin pressure,” “tariff impact,” and “festive pipeline.”
U.S. Tariffs Cast a Long Shadow
Just as earnings season picked up pace, came the curveball: a 25% tariff from the U.S. on several categories of Indian imports.
It’s too soon for most companies to have felt the direct brunt in Q1, but commentary today will be key. Export-heavy companies, especially in chemicals, auto parts, textiles, and certain pharma verticals, may be forced to rethink global supply strategies.
Some CFOs are expected to break their silence on potential risk mitigation strategies.
Currency volatility and shifting global demand are complicating things further. While India has been a bright spot in global macro stories, any dent in export volumes due to tariff barriers could quickly cloud the earnings picture for Q2 and beyond.
What the Street Wants by 4 PM
It’s not just about EPS anymore. By the time markets close today, traders and long-term investors alike are hoping to walk away with:
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Confidence in domestic demand recovery
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Clarity on U.S. tariff impact
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A clear sense of pricing power in key sectors
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Growth guidance that doesn’t feel sugar-coated
It’s a big ask—but on a day when nearly 140 companies are speaking, someone’s bound to say something that moves the market.
