Asian Paints, Eicher Motors, Gujarat State Petronet shares in focus ahead of Q4 results today. Here're earnings previews

Asian Paints Ltd, Eicher Motors Ltd and Gujarat State Petronet Ltd (GSPL) are among a dozen companies that would report March quarter results on Thursday. While GSPL is seen reporting a weak set of numbers due to fall in volumes on account of lower demand from Gujarat Gas and Reliance Industries, Asian Paints is seen logging a double digit growth in both top and bottom line growth. Eicher Motors is expected to report even stronger results.

Asian Paints Q4 results preview

Nuvama Institutional Equities expects Asian Paints to report a 15.1 per cent year-on-year (YoY) rise in net profit at Rs 1,112.20 crore compared with Rs 966.10 crore in the same quarter last year. It sees revenue for the quarter rising 12.1 per cent YoY to 8,844.10 crore compared with Rs 7,892.70 crore in the corresponding quarter last year. Ebitda margin is seen at 19.3 per cent against 18.7 per cent in the December and !8.3 per cent in the March quarter of last year.

"We expect domestic volume growth of 12 per cent YoY. Asian Paints shall post a good volume recovery in Q4FY23E—versus flat volumes in Q3FY23. With raw materials deflating, we anticipate margin improvement on QoQ as well as YoY basis. However, rupee depreciation will partially negate deflation in raw material costs. We believe Asia Paints is likely to turn in a top-tier Q4 among paint players," it said.

Gujarat State Petronet Q4 results preview

Elara Securities expects GSPL to report a 29.5 per cent YoY drop in net profit at Rs 142.50 crore for the March quarter compared with Rs 202 crore in the same quarter last year. The brokerage sees sales at Rs 365.40 crore compared with Rs 433 crore, down 15.6 per cent YoY. GSPL's Ebidta may dip 26 per cent YoY on a 32 per cent transmission volume decline, due to lower demand from Gujarat Gas and Reliance Industries, the brokerage said.

Sharekhan expects 2 per cent per cent YoY drop in profit at Rs 197 crore. It sees sales falling 1.9 per cent YoY to Rs 425 crore. Operating profit margin is seen at 72.7 per cent against 70.7 per cent YoY.

Eicher Motors Q4 results preview

Eicher Motors is seen reporting a steady performance in the March quarter. Royal Enfield (RE) volumes for the quarter stood at at 2.2 lakh units, down 1.3 per cent sequentially with the product mix marginally improving in favour of >350 cc segment. Share of >350 cc motorcycles in total sales volume for Q4FY23 was at 10 per cent against 9 per cent in Q3FY23. ICICI Securities expects consolidated net sales for Eicher Motors at Rs 3,642 crore, down 2.1 per cent QoQ. Ebitda for the quarter is seen at Rs 882 crore with Ebitda margins at 24.2 percent, up 120 bps QoQ. Consolidated PAT for the quarter is expected at Rs 770 crore, up 4 per cent QoQ.

On a YoY basis, Emkay Global sees Eicher's profit rising 32 per ecnt YoY to Rs 807 crore. It sees yoY sales rising 17 per cent YoY to Rs 3,752 crore. It sees Ebitda margin at 23.5 per cent against 23 per cent in December and 23.7 per cent in the year-ago quarter.

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