Vedanta, Adani Power, Bajaj Finance, Indian Bank, and Waaree Energies are scheduled to announce their earnings report for the fourth quarter of FY26. Public sector bank Indian Overseas Bank, automotive manufacturer Force Motors, NBFC IIFL Finance, pharmaceutical products manufacturer Syngene International, pharma player Granules India, and media corporation NDTV will also release their fourth-quarter earnings.
In total, 53 companies are reporting today. Here's what to watch for each major name.
Also Read: ₹5,033 Crore Profit, ₹11 Dividend: Hindustan Zinc's Record-Breaking Q4
1. BAJAJ FINANCE — The One Everyone Is Watching
Bajaj Finance is India's dominant consumer lending NBFC. Its quarterly numbers are often used as a proxy for urban discretionary consumption health.
The company's board meets on Wednesday, April 29, 2026, to consider and approve financial results for the quarter ended March 31, 2026. Alongside earnings, the board will also recommend a dividend on equity shares, if any, for FY26. Bajaj Finance typically posts its numbers post-market hours, usually after 3:30 PM.
What analysts expect: PL Capital expects robust AUM growth of 22% year-on-year. New loans booked grew 20.5% year-on-year to 12.9 million in the quarter, and Bajaj Finance added 3.9 million new customers, taking the total to 119.3 million.
Net interest margins are expected to remain steady. Credit costs may be elevated as the MSME segment is seeing stress, with recovery potentially delayed due to the Gulf War situation.
Key metrics to watch: AUM growth trajectory, NIM movement, credit cost guidance for Q1 FY27, and whether management flags any slowdown in consumer spending or MSME portfolio stress.
The Gulf War reference matters here. Elevated oil prices raise input costs for small businesses. If MSME stress is spreading, Bajaj Finance's credit costs could remain sticky.
2. VEDANTA — Metals, Mining, and a Massive Restructuring
Vedanta is a metals and mining conglomerate — zinc, aluminium, copper, silver, iron ore. Its Q4 performance is closely linked to London Metal Exchange prices, which have been largely supportive.
Analysts on Dalal Street expect Vedanta to post a strong performance in Q4 FY26, aided by favourable London Metal Exchange prices for aluminium, zinc, and silver. These price trends are likely to support earnings growth across the company's key verticals. However, analysts have also flagged rising cost of production pressures driven by supply constraints.
Brokerages tracked by Business Standard expect Vedanta's adjusted profit after tax to rise by up to 174% year-on-year, supported by higher realisations and improved operating performance across segments.
Street estimates project revenue growth of 20–25% year-on-year, with significantly higher EBITDA and PAT — potentially in the 40–90%+ range year-on-year, aided by better realisations and operational improvements across zinc, aluminium, and other segments.
There is a structural story beyond the quarterly numbers. Vedanta will remain in sharp focus today as all F&O contracts expire due to its demerger. The demerger into separate listed entities — metals, oil and gas, aluminium — has been a multi-year saga. Any update on timelines or execution will be a market-mover.
What to watch: Segment-wise volume and realisation trends, debt reduction progress, net debt/EBITDA ratio, and any updates on corporate actions or dividends.
Also Read: Why Eternal's Revenue Chart Goes Vertical — And Why That Might Be Misleading
3. ADANI POWER — India's Electricity Demand Story
Adani Power is the country's largest private thermal power producer. Power demand in India remains structurally strong — economic activity, urbanisation, and cooling loads in a hotter country all push electricity consumption higher.
Adani Power is expected to benefit from sustained electricity demand and improved operational efficiency. Key things to watch: power generation volumes, plant load factor trends, coal and fuel cost movements, margin sustainability, and any updates on capex and funding. The earnings conference call has been rescheduled to April 30, 2026.
The coal procurement question is central. Global coal prices have been volatile, and Adani Power's cost structure is significantly linked to imported coal in some of its units. Management commentary on fuel cost trends and Power Purchase Agreement renegotiations will be closely parsed.
4. FEDERAL BANK — Mid-Sized Private Banker With Real Stakes
Federal Bank is not a headline-grabbing HDFC or ICICI, but it's a well-run mid-sized private sector lender with significant operations in Kerala and South India. Its results often reflect the health of the SME and retail lending segments beyond metro cities.
Watch for: Net interest margin compression or expansion, deposit growth trajectory, asset quality in the retail and SME segments, and credit card/digital lending performance.
Also Read: RIL Q4 Results 2026: Record Annual Revenue, But Quarterly Profit Slips
5. MPHASIS — IT Services in a Complicated Season
The IT sector has had a tricky year. US discretionary spending volatility, deal ramp delays, and currency headwinds have all weighed. Mphasis, which is heavily exposed to BFSI (banking, financial services, insurance) clients — particularly in the US — will give a read on whether that vertical is improving.
Watch for: Revenue growth in constant currency, deal wins, margin guidance for FY27, and any commentary on AI-related demand from its client base.
6. WAAREE ENERGIES — Solar Boom Meets Policy Reality
Waaree Energies is India's largest solar panel manufacturer. It has been one of the biggest beneficiaries of the government's push for domestic solar manufacturing.
Waaree Energies will be watched for fundraising decisions, alongside earnings results.
The key tension in Waaree's story: Domestic manufacturing is incentivised, but global panel prices have been falling, creating margin pressure even as volumes grow. Management commentary on order book, export vs domestic mix, and capex plans will be central.
Other Names on the Calendar
Other companies reporting today include Motilal Oswal Financial Services, Navin Fluorine International, Force Motors, Syngene International, IIFL Finance, KFin Technologies, Granules India, HEG, Sterlite Technologies, Indegene, MOIL, MAS Financial Services, Geojit Financial Services, Benares Hotels, Fino Payments Bank, and New Delhi Television, among others.
Force Motors is worth a quick note — with farm mechanisation and rural commercial vehicle demand picking up, its quarterly numbers serve as a ground-level indicator of rural economic activity.
The Macro Reading From Today's Results
Collectively, today's slate spans: consumer credit (Bajaj Finance), metals and mining (Vedanta), power generation (Adani Power), banking (Federal Bank, Indian Bank, Indian Overseas Bank), IT services (Mphasis), renewable energy (Waaree), and speciality chemicals (Navin Fluorine, Granules India).
That is a fair cross-section of the Indian economy. If Bajaj Finance's AUM growth holds at 22%, if Vedanta's metal realisations confirm a strong quarter, and if Mphasis shows deal momentum — that's a broadly positive earnings picture. If credit costs are elevated and IT guidance is flat, the mood shifts.
By evening, the picture will be clearer. Markets will be pricing in the results through Wednesday evening and Thursday morning.