Here’s a preview of what the numbers might look like for these companies:
Britannia Industries
Britannia Industries is expected to report a 16% year-on-year (YoY) jump in its net sales for the quarter ended March 31, 2023, at Rs 4,103 crore led by a 2-3% growth in volume and a 13% increase in price, according to estimates by brokerage Sharekhan. A sequential decline of 2.2% in sales is seen for the FMCG major.
Adjusted Profit After Tax (PAT) is seen at Rs 482 crore which is 27.5% higher over the corresponding quarter in the year-ago period. Although, it could slide by 15.7% quarter-on-quarter (QoQ).
Margins are expected to improve YoY (gross margin up by 196 bps and OPM up by 161 bps) aided by price hikes and a better mix, Sharekhan said.
Meanwhile, Motilal Oswal sees a 12.6% jump in sales for the quarter ended March at Rs 4,000 crore. The PAT is expected to be at Rs 500 crore, up 39.2% YoY.
Marico
Revenue growth is expected to be muted at 3% YoY at Rs 2,233 crore, led by low single-digit growth in Parachute and a double-digit decline in the Saffola portfolio, Sharekhan said. The QoQ drop is seen at 9.6%.
Despite 13% YoY growth in operating profit, PAT growth is expected to moderate at 8% impacted by increased interest expense and higher incidence of tax, Sharekhan said.
Overall volume growth in India business is expected to be in the mid-single digit, the domestic brokerage said, adding that its international business will likely register mid-teen constant currency growth.
Gross margin is expected to improve by 150 bps YoY as copra prices remained in steady zone and edible oils resumed downtrend. This along with better product mix would lead to 145 bps YoY improvement in OPM, Sharekhan opines.
Meanwhile, Motilal Oswal expects Marico to report a revenue of Rs 2,229 for the January-March quarter which will likely be up 3.1% YoY. Volumes to remain flat YoY dragged by slowdown in rural demand, says Motilal Oswal. Outlook on digital-first brands is a key monitorable, it said further.
Paytm
Citi expects Paytm to report a decent Q4 with further improvement in net payment margins and overall adjusted EBITDA/EBIT margins, partly aided by recognition of annual UPI payouts from the government this quarter.
Sustained momentum in lending distribution business (+25% QoQ in disbursals), as well as a broader focus on monetization, imply Paytm is well-positioned to clock sustained growth in operating profitability ahead, the foreign brokerage said.
Recent regulatory announcements (wallet interoperability, credit lines on PPI wallets) are positive for Paytm, Citi said, adding that the resolution of RBI IT-Audit could be key.
“We think the ongoing funding winter (for start-ups) and increasing regulatory requirements for fintech space imply consumer-fintech sees market share consolidation ahead; big players should benefit,” Citi said.
Federal Bank
Motilal Oswal is estimating a 33.2% YoY and 3.8% QoQ rise in the net interest income (NII) of Federal Bank at Rs 2031.6 crore for Q4. Net profit is seen growing by 55% YoY and 4.2% QoQ to Rs 837.4 crore. Operating profit is seen at Rs 1,349.9 crore, up 69.1% YoY and 5.9% sequentially.
Meanwhile, Kotak Institutional Equities expects NII to increase by 27% to Rs 1,943. It is expected to be 1% lower on the QoQ basis. At Rs 762.6 crore, the PAT is likely to rise 41% YoY although it would be lower than Rs 803.6 crore posted in Q3FY23.
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