Indusind Bank, Eternal, Infosys: 70% Nifty Firms See Cuts In Eps Estimates In April

A full of 35 Nifty constituents saw downward revisions successful FY26 net per stock (EPS) estimates successful April. Eternal (erstwhile Zomato), which reported a 78 per cent plunge successful Q4 nett profit, saw nan highest EPS cut in nan Nifty pack. IndusInd Bank, which declared accounting discrepancies to nan tune of Rs 1,960 crore, has seen nan 2nd highest EPS cut. IT firms Infosys Ltd and Tata Consultancy Services Ltd and car awesome Maruti Suzuki India Ltd besides saw 4-5 per cent EPS cuts.  

In nan past 12 months, Nifty delivered a 7.7 per cent return. But EPS estimates for FY25 and FY26 during nan aforesaid play were reduced by 5.1 per cent and 6.8 per cent, respectively.

"Muted expert expectations for Nifty 4QFY25 PAT going into consequence play mightiness person led to nan FY25 EPS increase. However, nan EPS downgrade rhythm continues fixed FY26E/27E cuts are sharper than that successful February and March. Further, nan number of Nifty companies which saw an EPS trim besides accrued from 44 per cent successful March to 70 per cent successful April, pinch IT services, Consumer, Banks and Automobiles being cardinal contributors," JM Financial said successful anote. 

The largest EPS upgrades were seen successful Kotak Mahindra Bank Ltd, SBI Life, Jio Financial Services, Reliance Industries Ltd, and ICICI Bank Ltd.

Among downgrades, 4 retired of six slope companies successful nan Nifty pack, each 5 IT and 8 Nifty user companies saw downgrades. Four retired of six Nifty car constituents besides saw downgrades. 

"In April, 12 Nifty50 companies (24 per cent) saw an upgrade successful FY26E EPS estimates. This included: (1) Automobiles: 2 retired of 6 companies successful nan Nifty50 (33 per cent), (2) Banks: 2 retired of 6 companies successful nan Nifty50 (33 per cent), (3) NBFCs: 2 retired of 4 companies successful nan Nifty50 (50 per cent), and (4) Pharmaceuticals: 2 retired of 4 companies successful nan Nifty50 (50 per cent)," JM said.

Data till Monday showed 27 Nifty companies together reported 9.11 per cent year-on-year (YoY) emergence successful nett income astatine Rs 10,20,173 crore successful Q4 compared pinch Rs 9,34,972 crore successful nan aforesaid 4th past year. Profit for these 27 companies grew 6.59 per cent to Rs 1,50,082.68 crore from Rs 1,40,810 crore YoY. 

"The March 4th firm net has been successful statement truthful far, pinch heavyweights driving nan aggregate," MOFSL said.  Among 24 of these Nifty results that MOFSL tracked, profit for nan battalion was up 7 per cent YoY against an estimate of 5 per cent YoY, led by ICICI Bank, HDFC Bank, Adani Ports, Wipro, Infosys, Bajaj Finance, and Reliance Industries.

MOFSL said nan marketplace has rebounded smartly complete nan past 2 months, wholly erasing its year-to-date decline. 

"The Nifty is presently trading 2.9 per cent higher successful CY25YTD. With nan existent rally, Nifty trades astatine 21x FY26E earnings, adjacent its LPA of 20.6 times. While near-term challenges specified arsenic world macros, waste and acquisition wars, and a anemic 4QFY25 will support nan marketplace volatile and jittery, we judge that nan medium- to semipermanent maturation communicative for India remains intact," MOFSL said.