BHEL, Ambuja Cements and Others to Release Q4 2026 Earnings Today

Earnings Season Enters Fourth Week: Key Companies to Watch

As the earnings season enters its fourth week, around 45 companies are scheduled to release their financial results for the quarter ending on March 31, 2026, on Monday, 4 May. Among the marquee companies declaring their Q4 results today are Bharat Heavy Electricals (BHEL), Ambuja Cements, Aditya Birla Capital, Jindal Stainless, Ather Energy, Manappuram Finance, Tata Technologies, and Tata Chemicals.

The earnings-driven action will be a critical factor to watch in today's session, with heavyweights such as Ambuja Cements, Bharat Heavy Electricals Limited, and Tata Technologies expected to play a pivotal role in shaping sectoral sentiment. Strong performance from Ambuja could reinforce confidence in the cement and infrastructure theme, particularly around execution and synergy benefits. BHEL's numbers will be closely tracked as a proxy for capital goods and PSU momentum, where expectations remain elevated. Tata Technologies, meanwhile, will be key for sentiment in the ER&D and IT space, especially following recent underperformance.

Market Performance

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On Thursday, the Indian stock market closed in the red, with the benchmark Nifty 50 slipping below the 24,000 mark. The Sensex declined by 582.86 points, or 0.75%, to end at 76,913.50, while the Nifty 50 fell 180.10 points, or 0.74%, to settle at 23,997.55.

Ambuja Cements Q4 Results Preview

Brokerage firm Motilal Oswal expects Ambuja Cement's consolidated volume to increase by 10% YoY, aided by inorganic growth. Meanwhile, the brokerage firm anticipates EBITDA to fall 5.5% year-on-year (YoY).

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Kotak Institutional Equities believes blended volumes to rise 18% YoY and 1.2% quarter-to-quarter (QoQ). The firm estimates blended realizations to increase qoq by 1.1% (-0.3% yoy) led by improvement in non-trade prices. It also estimates costs/ton to decrease by 1.4% qoq (+3.9 yoy) led by operating leverage.

Tata Chemicals Q4 Results Preview

MOFSL expects Tata Chemicals revenue likely to remain flat, with the pricing and demand outlook on Soda Ash will be the key monitorable. It further expects EBITDA margin is likely to expand 220bp on a YoY basis.

Kotak estimates a 6.5% yoy decline in consolidated revenues for Tata Chemicals amid continued pressure on soda ash realizations. North America revenues are expected to decline, as the company aims to cut volumes in low-realization Southeast Asia. In other regions, realizations and volumes are expected to remain stable qoq.