Last week delivered Infosys and Reliance — the two most-watched results of Q4 FY26 season. This week shifts focus to consumer (HUL), industrials (Adani Ports, ACC), banking (Federal Bank), and mid-cap IT (Mphasis, Laurus Labs).
Live earnings tracker → StockMirror Market Calendar
Full Schedule — Week of April 28–May 2
Monday, April 28
| Company | Sector | What to Watch |
|---|---|---|
| Maruti Suzuki India | Passenger Vehicles | Total wholesale volume, CNG share, SUV mix, March year-end push, FY27 outlook |
| Castrol India | Lubricants | Premium lubricant mix shift, volume growth, EV headwind (EVs use less lubricant) |
| Dalmia Bharat | Cement | Volume + utilisation, expansion capex progress, cost per tonne |
| Piramal Pharma | Pharma | CDMO business growth, India formulations recovery |
| Go Digit General Insurance | Insurance | Premium growth, combined ratio, claims trajectory |
| Orient Cement | Cement | Volume + EBITDA per tonne |
Tuesday, April 29
| Company | Sector | What to Watch |
|---|---|---|
| Mphasis | IT Services | Direct revenue growth vs DXC decline — is overall revenue positive? |
| Federal Bank | Banking | NIM (Net Interest Margin) trend, deposit cost pressure, loan growth |
| Adani Power | Power Generation | Capacity utilisation, merchant power prices, fuel cost trends |
| Granules India | Pharma APIs | US FDA compliance status, API volume growth |
| KFin Technologies | Financial Services | AUM + transaction processing growth in strong market |
| Syngene International | CRO / Pharma Research | US client spending, new molecule pipeline |
Wednesday, April 30 — The Consumer & Infrastructure Day
| Company | Sector | What to Watch |
|---|---|---|
| 🔴 Hindustan Unilever (HUL) | FMCG | Urban consumption recovery — volume growth vs price growth. The India consumer bellwether. |
| 🔴 Adani Ports | Ports & Logistics | Cargo volume, Mundra throughput, new terminal contribution |
| ACC | Cement | Volume growth, EBITDA per tonne, synergies with Adani-era management |
| Laurus Labs | Pharma APIs + CDMO | API business recovery, CDMO ramp-up at new Vizag facility |
| PSP Projects | Construction | Order execution, working capital cycle |
| Ksolves India | IT Services | — |
The Two Numbers Everyone Is Watching
HUL Volume Growth (April 30)
HUL is India's FMCG bellwether. In Q3 FY26, management signalled early signs of urban consumption recovery after several soft quarters. Q4 is the test: does recovery hold?
The key distinction: HUL has been raising prices. What investors want to see is volume growth — real units sold, not just higher prices. A quarter with 8% revenue growth from 6% price + 2% volume is less encouraging than 8% growth from 3% price + 5% volume.
Category watch: Home care, beauty, and food & beverages all move differently. Premiumisation in beauty is a structural trend — HUL's premium brands (Lakme, Dove) should outperform mass brands.
Adani Ports Cargo Volume (April 30)
Adani Ports (APSEZ) is India's largest private port operator. After CONCOR's strong 10% EXIM volume growth, Adani Ports Q4 will confirm whether throughput momentum holds. Mundra remains India's largest container port — what CONCOR lost at Mundra, other operators may have captured.
What to watch: Total cargo volume (MT), container throughput (TEUs), EBITDA per MT, and whether the new Vizhinjam port (first deep-water transhipment port) is contributing.
Mid-Cap IT — Mphasis in Focus
Mphasis is the most interesting mid-cap IT read this week. The company has a binary revenue structure:
| Channel | Trend | Why |
|---|---|---|
| Direct (own clients) | Growing | Proprietary relationship, higher margin |
| DXC (legacy MSA) | Declining | Master service agreement with DXC Technology winding down |
For the past several quarters, DXC decline has been faster than Direct growth, causing overall revenue to decline. Q4 FY26 is the key test: has Direct grown enough to offset DXC erosion?
If Direct > DXC decline → overall revenue growth turns positive → sentiment inflects. If not → another quarter of decline.
Banking — Federal Bank (April 29)
Federal Bank is a Kerala-headquartered private sector bank with significant NRI deposits and a strong retail franchise in South India. Key Q4 metrics:
- NIM (Net Interest Margin): Has been under pressure as deposit costs rose. Has the repricing cycle peaked?
- Loan growth: Retail vs corporate mix. Federal Bank has been growing its Fintech partnerships.
- Asset quality: GNPA and NNPA trends — any stress emerging in unsecured lending?
Federal Bank provides a useful read on Kerala and South India economic activity, and on the broader NRI remittance-linked deposit pool.
Cement Sector — ACC and Dalmia Bharat
Two cement companies reporting in the same week (Dalmia Apr 28, ACC Apr 30) gives a clear Q4 picture. India's cement sector had a strong demand quarter — the pre-monsoon construction season typically drives Q4 volumes.
Key metrics:
- Volume growth YoY
- Realisations (price per tonne)
- EBITDA per tonne (the core profitability metric)
- Energy costs — coal and petcoke prices have been moderating
Dalmia Bharat is more East India weighted; ACC covers a broader national footprint post-Adani takeover from Holcim. Back-to-back results will show regional and management execution differences.
Where to Track Results Live
After each earnings call, StockMirror processes the transcript and publishes:
- Management Sentiment and Confidence signals
- Revenue driver breakdown (Volume / Price / Mix / Execution)
- Q&A tone analysis — direct, confident, or evasive
- All analyst questions and answers
Track this week's results → StockMirror Market Calendar
Related Articles
- Earnings This Week: April 21–25, 2026
- Q4 FY26 Earnings Season — All Results
- CONCOR Q3 FY26 Analysis — Container Rail
- India Stock Market Earnings Calendar Guide
Disclaimer: Earnings dates from NSE/BSE announcements, subject to change. Not financial advice.