Kajaria Ceramics (~₹19.7K Cr) makes tiles and bathware.
It targets tile sales of 130 million sq m vs 118 million last year, but plans to raise outsourced production from ~30% to ~40% as own capacity stays flat—making the margin impact worth watching.
IndiGrid (~₹16.1K Cr) owns power-transmission and renewable assets, earning contracted cash flows.
Its ₹4.12 Q1 distribution included ₹1.41 as capital repayment—not income—so investors should distinguish cash received from yield and understand the tax treatment.
Castrol India (~₹19.5K Cr) sells automotive and industrial lubricants.
Q2 CY26 revenue rose 25% and profit 43%, with EBITDA margin expanding to 26.4% from 21.3% a quarter earlier—premium products and stronger volumes are lifting profitability.
Emmvee Photovoltaic (~₹20.5K Cr) makes solar cells and modules.
Q2 FY27 revenue grew 37% and profit 61%, but cell utilisation hit 89% while modules ran at just 44%—the next challenge is scaling module output to absorb growing cell capacity.
LTTS (~₹38.2K Cr) provides engineering R&D services across mobility, industrials, MedTech and tech.
Q1 FY27 revenue grew 11.5% in rupees, but just 1.9% in constant currency; EBIT margin rose 200 bps to 15.7%. Currency masked modest underlying growth.
Sun TV Network (~₹25K Cr) runs South Indian TV channels, SunNXT OTT and SunRisers cricket franchises.
In Q1 FY27, cricket franchises generated ₹630 Cr revenue against ₹321 Cr costs, while ad revenue fell 2.6%—making sports an increasingly important earnings driver.
Allied Blenders (~₹21.2K Cr) makes whisky, brandy, rum and vodka, including Officer’s Choice and ICONiQ White.
In Q1 FY27, premium & above brands generated 59.3% of sales value on 48.2% of volume—premiumisation is lifting the mix.
Indraprastha Gas (~₹20.3K Cr) distributes CNG and piped natural gas across Delhi-NCR and nearby cities.
Q1 FY27 volumes grew 6%, but profit fell 44% as volatile LNG costs squeezed margins—showing that volume growth alone may not lift earnings.
Lalithaa Jewellery Mart (~₹20.2K Cr) sells gold, silver and diamond jewellery, with 62% of revenue from large/medium stores.
Q1 FY27 revenue rose 26% YoY, but EBITDA fell 15% and margin dropped from 9.2% to 6.2%—growth came with profitability pressure.
Bata India (~₹23K Cr) sells footwear under Bata, Hush Puppies and Power.
Q1 FY27 revenue grew 4%, but underlying PBT rose 22% as gross margin expanded 130 bps. Premiumisation and tighter inventory are improving profitability faster than sales are growing.
The Ramco Cements (~₹19K Cr) makes cement and construction chemicals, mainly in South India.
Q1 FY27 revenue rose 9.6% YoY, but operating profit fell 22.9%—a reminder that higher sales don’t guarantee better earnings when costs squeeze margins.
Nestlé India (~₹2.51 lakh Cr) sells Maggi, Nescafé, KitKat & more.
Q2 FY27 revenue rose 20% and profit 36%, yet shares fell 7.5% as food inflation threatens margins—strong results may not be enough when investors fear rising costs.
What if all NRIs started returning to India? Who would benefit more from this mass migration — India or the USA?
ESDS Software (~₹18.4K Cr) provides cloud, data-centre and managed IT services.
FY26 revenue grew ~31% to ₹473 Cr—but market value is nearly 39× annual sales, leaving little room for growth to disappoint.
Tenneco Clean Air India (~₹18.7K Cr) supplies exhaust, powertrain and suspension systems to automakers.
Q1 FY27 revenue rose 20% YoY, but operating profit grew just 8%—a gap worth watching for signs of cost pressure or weaker product mix.
CPCL (~₹18K Cr) refines crude into fuels, lubricants and waxes.
Its ₹1,620 Cr project will add 256,000 tonnes/year of premium Group II/III lube base oils—products India largely imports—diversifying beyond fuel refining into higher-value products.
Pine Labs (~₹18.8K Cr) provides merchant payments, POS and digital commerce tools.
A planned UPI merchant-fee rollout has been delayed beyond Diwali, so a potential new revenue stream may arrive later than fintech investors expected.
KIOCL (~₹21.8K Cr) makes iron-ore pellets and provides mineral-exploration services.
FY26 pellet output rebounded to 2.70 MT from 0.93 MT, but revenue was ₹613 Cr and PAT just ₹16.6 Cr—showing how volatile pellet economics can blunt a production recovery.
Sagility (~₹20.4K Cr) provides technology-enabled services to US health insurers and healthcare providers.
Its top-5 client revenue share fell from 80.6% in FY23 to 70.4% in FY26—reducing customer concentration, though dependence on a few large clients remains.