Q4 results 2026: The earnings season is all set to enter its sixth week as more than 500 companies are scheduled to release their financial results for the quarter ended on March 31, 2026, in the coming week.
Indian Oil Corporation (IOC), Ola Electric Mobility, JSW Cement, Bharat Electronics (BEL), Bharat Petroleum Corporation (BPCL), Lenskart Solutions, Grasim Industries, Life Insurance Corporation of India (LIC), ITC, and Nykaa are among the marquee companies to declare their Q4 results 2026 next week.
“The upcoming week will also remain crucial from an earnings perspective. Major heavyweight companies including Hindalco Industries, Sun Pharmaceutical Industries, and Eicher Motors are scheduled to announce results, which could significantly influence sectoral momentum,” said Hariprasad K, SEBI-registered Research Analyst and Founder, Livelong Wealth.
On Friday, benchmark indices Sensex and Nifty 50 ended their two-session gaining streak on Friday, May 15, amid profit booking triggered by weak global sentiment, a sharp rise in crude oil prices, and the rupee slipping to a fresh record low against the US dollar. The Sensex declined 161 points, or 0.21%, to close at 75,237.99, while the Nifty 50 dropped 46 points, or 0.19%, to settle at 23,643.50.
IOC Q4 results preview
Brokerage firm Motilal Oswal expects refinery throughput to rise 4% year-on-year (YoY) to 19.3mmt. The brokerage firm further anticipates GRM at $19/bbl, with gross marketing margin at ₹2/lit.
“Petchem cracks have remained subdued, which should have a bearing on the company’s petchem division,” the firm said.
Meanwhile, Kotak Institutional Equities expects IOCL’s adjusted EBITDA to decline 22% qoq (up 5.6% yoy). While the impact of sharply elevated crude oil prices in March will mostly be seen in 1QFY26, RM costs will rise on higher oil prices and a weak INR.
It further noted that while reported GRM will look optically strong, marketing losses will be high on both own refinery productions and on third-party product purchases. With sharply higher prices, LPG under-recoveries should increase despite lower volumes, it said.
“We assume (1) reported GRM of US$16/bbl (versus US$7.9/bbl yoy, US$12.2/bbl qoq); (2) crude throughput at 19.7 mmt (up 6.1% yoy. up 1.3% qoq); (3) auto fuel under-recovery of ~Rs105 bn (versus ~Rs43 bn over-recovery qoq, Rs69 bn over-recovery yoy); (4) 4QFY26 losses on domestic LPG of Rs37 bn (versus Rs9.6 bn qoq); (5) LPG compensation of Rs36.2 bn; and (6) adventitious gain of ~US$4/bbl in both refining and marketing,” the firm said.
Nykaa Q4 results preview
MOFSL expects revenue to grow 26% YoY, with BPC likely delivering ~24% YoY growth in both GMV and NSV. Overall, 4Q growth remains steady with margin normalisation post festivities.
The brokerage firm expects the fashion segment to grow 33% YoY in NSV, with early signs of recovery now visible; EBITDA near breakeven at -0.2% of NSV.
Contribution margins in beauty should expand by 40bp, though EBITDA margin may contract 40bp QoQ due to a high 3Q festive base and continued investments.
“Key watchpoints include demand trends in BPC, brand expansion, House of Nykaa contribution across segments, and margin outlook,” the firm said.
Ola Electric Q4 results preview
Kotak expects Ola Electric's revenues to decline by 51% yoy driven by (1) 59% yoy decline in volumes and 8% yoy increase in ASPs due to higher PLI accrual and higher mix of motorcycles.
“We expect the company to report EBITDA loss of Rs2.2 bn in 4QFY26 versus EBITDA loss of Rs6.9 bn in 4QFY26FY25. Reduction in losses will be driven by (1) lower provisions on a yoy basis, (2) costcontrol measures and (3) higher mix of Gen-3 platform partly offset by negative operating leverage,” the firm said.
Here's a list of companies to declare Q4 results 2026 between 18 May to 22 May -
18 May
19 May
20 May
21 May
22 May
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
The corporate earnings season in India is entering its sixth week, with more than 550 companies scheduled to release their financial results for the quarter and financial year ended March 31, 2026.
This is one of the busiest and most crucial phases of the reporting cycle, featuring a diverse mix of market heavyweights across defense, oil & gas, FMCG, insurance, and new-age tech.
Date-Wise Schedule of Major Q4 Earnings (May 18 – May 23, 2026)
Monday, May 18, 2026
Indian Oil Corporation (IOCL)
Indraprastha Gas Limited (IGL)
Astral
DOMS Industries
JSW Cement
Afcons Infrastructure
Timken India
Triveni Turbine
Zydus Wellness
GE Vernova T&D India
GNFC
SPARC (Sun Pharma Advanced Research Company)
Tuesday, May 19, 2026
Bharat Electronics Limited (BEL)
Bharat Petroleum Corporation Limited (BPCL)
Mankind Pharma
Zydus Lifesciences
PI Industries
Zee Entertainment Enterprises (ZEEL)
RITES
MapmyIndia
Borosil
Fine Organic Industries
Karnataka Bank
PNC Infratech
PG Electroplast
Trident Ltd
Hatsun Agro Product
Wednesday, May 20, 2026
Grasim Industries
Apollo Hospitals Enterprise
Samvardhana Motherson International
Bosch
Jubilant FoodWorks
Lenskart Solutions
Honeywell Automation India
Ola Electric Mobility
Protean eGov Technologies
Metro Brands
Medplus Health Services
JK Lakshmi Cement
Action Construction Equipment
Thursday, May 21, 2026
ITC Limited
Life Insurance Corporation of India (LIC)
GAIL (India)
Nykaa (FSN E-Commerce Ventures)
Aurobindo Pharma
Page Industries
Prestige Estates Projects
Emami
Honasa Consumer (Mamaearth)
Bikaji Foods International
ICRA
Sun TV Network
Rashtriya Chemicals and Fertilizers (RCF)
VA Tech Wabag
Ramco Systems
Friday, May 22, 2026
Eicher Motors
Colgate-Palmolive (India)
Hindalco Industries
Sun Pharmaceutical Industries
Info Edge India (Naukri)
Saturday, May 23, 2026
Divi's Laboratories
JK Cement
Sarda Energy and Minerals
HBL Power Systems
Key Market Themes & Stocks to Watch
Oil Marketing Companies (OMCs): Market analysts (including Motilal Oswal and Kotak) will closely monitor IOCL and BPCL. While reported Gross Refining Margins (GRMs) are projected to look steady, the sharp rise in global crude oil prices throughout March and elevated raw material costs mean auto fuel and domestic LPG under-recoveries are key watchpoints.
Defense & Public Sector: BEL continues to be a cornerstone for defense electronic systems; its order book execution and margin guidance for FY27 will heavily influence sectoral momentum.
Consumption & New-Age Tech: Results from ITC (FMCG and hotel segments), Nykaa (noting early signs of recovery in fashion alongside steady beauty segment growth), and Ola Electric (watching for volume trajectories and EBITDA loss reductions via cost control) will offer vital insights into urban consumer demand.
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