As markets concluded the Q4 results season for FY26, Motilal Oswal reported that Indian corporate earnings showed widespread outperformance. Aggregate profits for companies under coverage rose 16% year-on-year, exceeding the brokerage’s 8% growth forecast. Strong results in BFSI, metals, oil marketing companies, technology, telecom and automobiles drove the beat. Oil and gas excluding OMCs weighed on overall growth. Nifty 50 firms posted 4% net profit growth, above the expected 2%. Large and midcap companies generally exceeded estimates, while smallcaps delivered in-line results. The brokerage lowered its FY27 Nifty EPS estimate slightly and highlighted ongoing weakness in forward revisions. It maintained preference for sectors including autos, PSU banks and manufacturing while remaining underweight on oil and gas, IT and metals.
