Apart from these, companies such as 360 One Wam, Alok Industries, DB Corp, Delta Corp, Fedbank Financial Services, Hathway Cable and Datacom, Nuvoco Vistas Corporation, Nelco, Swaraj Engines, Smartworks Coworking Spaces and South India Paper Mills, among others, will also report their quarterly numbers.
Investors are expected to track commentary around demand conditions, margins, cost pressures and outlook amid a mixed macro environment and sector-specific headwinds.
What to expect from HDFC Life Q3 results
Brokerages expect HDFC Life to deliver steady growth in new business, supported by protection demand and a favourable base, though margins are likely to come under pressure.
Kotak Equities sees HDFC Life reporting around 13% year-on-year growth in annualised premium equivalent in the December quarter, aided by moderate growth trends seen in the first two months of the quarter. However, it has factored in a 200 basis points sequential compression in value of new business margin to around 23.5%.
This is largely due to the impact of disallowance of input tax credit on GST, partially offset by a higher share of protection products.
Motilal Oswal expects APE growth to remain healthy, driven by a low base and continued traction in protection products. The brokerage believes the product mix may tilt more towards traditional plans compared with ULIPs.
It also flagged that profitability could be impacted by losses related to GST input tax credit, with the extent of margin pressure depending on the company’s ability to pass on these costs through commissions.
YES Securities, however, remains cautious. It expects muted growth based on trends seen till November 2025, when HDFC Life had reported de-growth in new business premiums. It has built in a marginal quarter-on-quarter contraction in VNB margins, driven by changes in product mix.
Angel One Q3 expectations
Brokerages expect a mixed quarter for Angel One as the brokerage industry continues to adjust to regulatory changes in the derivatives segment.
Kotak Equities expects Angel One’s order volumes to rise around 4% sequentially, supported by a steady increase in the margin trading facility book. However, net revenue is expected to remain flat on a year-on-year basis, as the base quarter was impacted by regulatory changes. Profit after tax is seen declining about 15% year-on-year due to operating deleverage, with expenses rising faster than revenues.
Motilal Oswal expects sequential improvement in per-day order run rates during the quarter, helped by a gradual easing of the impact of F&O regulations. The brokerage sees continued growth in the MTF book, improvement in distribution income and a sequential improvement in cost-to-income ratio due to lower customer acquisition costs.
Other key results to track
Jio Financial Services and L&T Technology Services will also be in focus, with investors keenly watching updates on growth momentum, margins and strategic initiatives. Banking stocks such as South Indian Bank and Fedbank Financial Services are expected to see attention on asset quality trends and loan growth.
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