February 16, 2026 - ChartAlert®

POWERINDIA – Q3 FY26 Earnings Call – 5-Feb-26

POWERINDIA’s base case supports 18–22% topline growth, 17–19% PBT margins, and 15–18% bottomline expansion, with HVDC execution and data center traction as swing factors; bear case hinges on execution risks, while bull case requires export/data center breakouts.

1–2 minutes

3-Scenario Framework

📊 Base Case (50% Probability)

Key Variables: (1) HVDC execution on track (Mumbai commissioned, Barmer bid won); (2) Domestic transformer demand sustains (data center/rail tailwinds); (3) Exports hold at 25–30%.
Outcome: Revenue grows 18–22% YoY, driven by HVDC recognition (10–12% of revenue) and data center/industrial orders (15–20% YoY growth). PBT margins stabilize at 17–19% as labor code impacts fade and operational leverage offsets commodity pressures. Export revenue flat at 25–30%, with FX tailwinds offsetting trade volatility. CAPEX catches up in H2, supporting FY27 capacity.
Implication: Topline: +18–22% YoY; Bottomline: +15–18%; Margins: 17–19%.

HFCL – Q3 FY26 Earnings Call – 3-Feb-26

1–2 minutes

3-Scenario Framework

📊 Base Case (50% Probability)

Key Variables: (1) Fuze approval in April 2026, enabling ₹300 crore defence revenue in FY27; (2) OFC realisation rises another 10% to ₹1,160/fkm; (3) Tariff clarity unlocks $200M export orders in FY27.
Outcome: Revenue reaches ₹3,500 crore (OFC) + ₹500 crore (telecom/defence) = ₹4,000 crore in FY27. EBITDA margins sustain at 19–21%, with PAT at ₹350–400 crore. Net debt stabilises at ₹1,500 crore as QIP proceeds deploy.

SHREECEM – Q3 FY26 Earnings Call – 6-Feb-26

SHREECEM’s topline growth hinges on demand recovery (7%–8% FY27 base case) and RMC scale-up, while margins remain pressured by fixed cost underabsorption until utilization exceeds 65%; bottomline upside requires pricing discipline to offset volume lag and capex ambiguity.

1–2 minutes

3-Scenario Framework

📊 Base Case (50% Probability)

FY27 demand grows 7%–8%, supporting 9–9.5M ton/Q4 run rate. RMC scales to 40 plants by Sep ’26, lifting utilization to 65%–68%. Pricing delta with UltraTech stabilizes at ₹10–15/bag. Outcome: Realizations +3%–5% YoY; EBITDA margin expands to 19%–21%. Financials: Revenue +8%–10% YoY; EPS growth 12%–15%.

LTM (LTIMindtree) – Q3 FY26 Earnings Call – 4-Feb-26

LTIMindtree’s topline growth hinges on client productivity transitions and AI monetization execution, while bottom-line resilience depends on New Horizons’ cost offsets; margins face structural 15.5–17.0% range, with upside contingent on AI scalability and forex stability.

1–2 minutes

3-Scenario Framework

📊 Base Case (50% Probability)

Key variables: Top client stabilizes in Q4; wage hikes offset by 50bps efficiency gains; AI deals ramp in H2 FY27 (2–3% revenue contribution).
Outcome: Revenue grows 8–10% YoY, EBIT margins expand to 16.5%, PAT grows 10–12% YoY. FCF/PAT sustains at 110%+ on working capital discipline.

MAXHEALTH – Q3 FY26 Earnings Call – 6-Feb-26

Max Healthcare’s topline growth (12–15%) hinges on capacity absorption and CGHS normalization; bottomline expansion (100–150 bps EBITDA margin) requires payor mix distillation and brownfield ROCE delivery.

1–2 minutes

3-Scenario Framework

📊 Base Case (50% Probability)

Key variables: CGHS rate hikes materialize (Q1 FY’27); Gurgaon Phase 1 commissions by H1 FY’27; clinician retention stable.
Outcome: Revenue grows 12–15% YoY (capacity + ARPOB); EBITDA margins expand 100–150 bps to 27–28% by FY’28. Net debt/EBITDA remains <1x.

M&M – Q3 FY26 Analyst Meet – 11-Feb-26

M&M’s SUV/LCV growth 15–18%, EVs hit 80k units by FY27; revenue CAGR 12–15%, margins 10–11%, ROE 18–20%. Bear case: Commodity shocks, EV capex; growth slows to 5–7%, EPS down 10–15%. Bull case: EV surge, tractor boom; CAGR 18–20%, margins 12–13%, ROE 22–24%.

1–2 minutes

3-Scenario Framework

📊 Base Case (60% Probability)

Auto Demand: SUV/LCV growth sustains at 15–18% (GST tailwind, replacement cycle), with premium mix stabilizing at 60%.
EV Scaling: 80,000 EV units/year achieved by FY27 (9S/9E demand), with PLI accruals at 10–12%; globalization limited to Australia/NZ.
Implication: Revenue CAGR of 12–15%, EBIT margins at 10–11%, and ROE sustained at 18–20%.