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Havells India said a delayed summer and unseasonal showers impacted revenue in its electrical consumer durables (ECD) segment, while Lloyd revenues moderated on a high base.

Margins remained stable across segments, except Lloyd, which saw pressure due to lower revenues.

Havells India’s cables business revenue rose 14% YoY, with EBIT jumping 36% and margins expanding to 14.2% from 11.9%, indicating strong operating leverage and improved profitability in the segment.

Board update

Varun Berry, former MD & CEO of Britannia Industries, has been appointed as an independent director

Havells India reported a strong Q4FY26 performance, with net profit rising 40.6% year-on-year to ₹734 crore, sharply beating the CNBC-TV18 poll estimate of ₹495 crore. Revenue grew 2.4% to ₹6,687 crore but came in below expectations of ₹6,971 crore.

EBITDA stood at ₹727 crore, marginally above estimates, while margins improved to 10.9% versus the expected 9.9%. However, on a year-on-year basis, margins narrowed from 11.7%, reflecting some pressure on operating performance despite the profit beat.

Tech Mahindra says, ‘On track to deliver our FY27 commitments’

New deal wins TCV $1,073 m, up 34.5% year-on-year and down 2.1% sequentially

#4QWithCNBCTV18 | #TechMah reports its Q4 results;

Net Profit At ₹1,353.8 Cr Vs CNBC-TV18 Poll Of ₹1,504 Cr pic.twitter.com/9RwYsnJ7Kt

— CNBC-TV18 (@CNBCTV18Live) April 22, 2026

Have seen healthy volume and revenue growth

Margin impacted by an increase  in cost of wire rods

Have passed on higher costs to consumers effective April 1, 2026

Margin should improve in Q1FY27

Looking at volume growth in the range of 18-20% in FY27

Pressure on pricing due to increased competition is not new

Bansal Wire Is Putting Pressure  On Bead Wire Prices

Margin should rebound to 14% in Q1 from current level of 9% in Q4

Competition isn’t new, we’re used to competing in both India and Thailand

Increased capacity helped  us maintain profitability

Demand continues to remain strong

Exports in FY27 to be higher than FY26

Shares of Central Mine Planning and Design Institute Ltd. fell more than 4.5% on Wednesday, April 22, after the company reported a mixed set of March quarter results on Tuesday, with revenue growth being offset by a sharp decline in margins and profitability.

here

UW, TP cut to ₹4200 from ₹5350

4Q was a miss vs. MSe, although margins beat consensus.

Management kept recovery hopes alive for F27 but moderated growth expectations.

Co missed on revenue in 4QF26, reporting CC growth of 0.9% qoq (vs. +1.5% est.) due to weakness in Healthcare

EBIT missed MSe by 3.4% but beat consensus by 4%. Net income was a beat vs consensus and our estimates, driven by a lower tax rate.

Now expect 6.9% revenue growth in cc terms for F27, vs 10.4% previously.

HSBC On Nestle

Hold Call, Target Price At ₹1,410/Share

Revenue Grew 23%, Beating Estimates By 9%

3 Of 4 Segments Saw Double-digit Growth

Cost Control Drove 18% EBITDA Beat Despite Higher Ad Spend

EPS Upgraded By 4–5%, Valuation Remains Rich

Nomura On Nestle

Buy Call, Target Price At ₹1,500/Share

Strong Q4FY26 Performance

Volume and Mix Grew 20%, While Sales Rose 22.6%

OPM Expanded To 26.3% Despite Higher Ad Spend

Operating Profit Grew 28% YoY

JPMorgan

Neutral Call, Target Cut To ₹1,370 from ₹1,419/share

Q4 Missed On Revenue, Margin & EPS

Telco weakness & SAP cancellations may persist into FY27

Lowering growth guidance to 1-4%

Citi

Neutral Call, Target cut to ₹1,385/share

FY27-28 EPS estimates cut by 1-2%

Co is relatively better placed over the medium term

CLSA

Outperform call, target cut to ₹6,520/share

Steady Performance

HSBC

Hold call, target at ₹5,755/share

Strong growth, but FY27 outlook is slightly soft

Valuation remains high

JPMorgan

Overweight call, target at ₹5,900/share

Q4 was mixed with revenue beat & margin miss

Seen as fastest-growing company over next three years

Nomura

Neutral call, target at ₹5,200/share

Modest Miss In Q4FY26

EPS estimates cut by 2-4%

Nestle India shares are up 10% in the last two sessions, while those of its peers, HUL, GCPL, Dabur are up between 3% to 6% during the same period. FMCG stocks are offsetting some of the losses today made by the IT stocks.

HCLTech shares are now down 11%. This is the biggest single-day loss for the stock since October 1, 2015, when the stock had declined 13%.

Here’s what the management told us during an interaction earlier:#4QWithCNBCTV18 | ‘Inorganic, strategy-focussed on tuck-in capability-led acqns; AI invsts will be managed broadly within 16-17% margin band’, says Sandeep Kalra, #PersistentSys to CNBC-TV18

Overall deflation estimated in the range of 2-5%, FY27 growth largely expected to be… pic.twitter.com/Ux3p6rbE5u

— CNBC-TV18 (@CNBCTV18Live) April 22, 2026

– Sequential improvement expected

– Standalone revenue growth of 20% has already been disclosed

– What is Already Disclosed: opened 22 new Westside stores, 109 Zudio stores in Q4

– EBITDA seen 30% higher at ₹848 crore compared to ₹652 crore

– EBITDA margin seen at 16.8% from 15.5% from last year

– Higher depreciation may result in profit being lower than EBITDA

CLSA expects mid-single-digit CC revenue growth in FY27 as large telco deals begin to ramp up from May / June 2026

The impact of the Middle East crisis on the Comviva business and other project delays

Large deal win announcements and their conversion to revenue

Update on the “Next 3 Years Plan” and institutionalizing annual guidance

ABB Global just disclosed its updates for the first quarter of calendar year 2026

Order inflow for the Indian region has grown by 26% from last year

ABB also plans to invest nearly $75 million in Indian manufacturing and R&D

ABB Global Order inflow growth is not directly corelated to India

ABB Global looks at third party customers in India who give orders to ABB India, other ABB entities and ABB companies outside India

Stock is up 6% after the announcement.

Indian IT companies have dropped along with the sell-off seen in HCLTech.

HCLTech has lost ₹36,000 crore in market capitalization so far

Infosys has lost ₹16,000 crore in market cap so far. TCS has lost ₹15,000 crore.

Tech Mahindra and Wipro have lost ₹4,000 crore and ₹1,000 crore respectively.

– US Dollar revenue seen 0.9% higher sequentially to $1,624 million

– Revenue in rupee terms seen 2.9% higher at ₹14,804 crore

– EBIT for the quarter seen at ₹2,035 crore from ₹1,891.6 crore

– EBIT margin for the quarter may rise by 60 basis points to 13.7% from 13.1%

– Net profit seen 34% higher at ₹1,504 crore from ₹1,122 crore in the previous quarter

– All numbers as per a CNBC-TV18 poll

Shares are up as much as 12% on Wednesday in response to its Q4 performance.

Pre-sales during the fourth quarter went up by 22%, while for the full-year, they were up by 25%.

Collections for the quarter improved by 39%, while the figure for the full-year was up by 14%.

The stock is up 35% in April so far, setting it up for the best monthly performance in six years.

– Revenue down 14% to ₹369 crore from ₹428 crore in the comparable period. Estimates were for the figure to be at ₹401 crore.

– Revenue for the quarter impacted due to large aerospace and defence order completion and geopolitical uncertainties

– EBITDA for the quarter down 25%, but margins at 11.6%, down 173 basis points but better than expectations of 10.6%.

– Order book increased by 27% from last year and 3% sequentially to ₹2,420 crore.

Shares of Cyient DLM have seen a sharp recovery from the lows of the day.

The stock was down as much as 5% in early trading in response to its results.

However, the stock has not only recovered all of those losses, but also surged over 4% after the recovery.

Details on their results in the next post.

IT stocks, which had begun to see a recovery after a sell-off at the start of the year, are again witnessing selling pressure in response to the results reported by HCLTech, Tata Elxsi and Persistent Systems.

Shares of Tata Elxsi are down 4% in response to their results.

Investors are reacting to subdued topline performance despite margin strength.

11 out of the 18 analysts who have coverage on the stock have a “sell” rating on the stock.

Shares are witnessing their biggest drop in the month of April so far.

– Out of the top 10 stocks declining on the Nifty 500, eight of them are IT names.

– Following HCLTech’s results, shares of Tech Mahindra, Persistent Systems, Hexaware Tech and Coforge are also down between 3% to 4% today.

Persistent Systems and Tata Elxsi (Down 3%) are also reacting to their results.

Infosys and TCS shares are also down between 2% to 2.5% today.

Transformers & Rectifiers shares are also down 10% in early trading on Wednesday.

The stock is the top loser on the Nifty 500 index.

Margins during the quarter fell to the lowest level since Q2 FY25. Margins were impacted by higher employee costs, which rose by 64% from last year.

Order backlog has been declining since the last three quarters as well.

Shares are the top losers on the Nifty 50 index on Wednesday.

28 out of the 47 analysts tracking the stock either have a “hold” or a “sell” rating on the stock.

The stock is the most traded on the Nifty 500 in early trading so far.

Shares are trading 7% lower, and had already corrected 19% from their recent 52-week high before today’s session.

Tata Elxsi’s constant currency revenue growth stood at 0.9% in Q4, lower than the 1.5% estimate. Margins however, at 22.3% were higher than expectations.

Net profit though, doubled as the base quarter had an exceptional loss of ₹95.7 crore due to the impact of the new wage code.NewsLive TVMarketPopular CategoriesCalculatorsTrending NowLet's Connect with CNBCTV 18Network 18 Group :©TV18 Broadcast Limited. All rights reserved.