Q2 Results Preview: IOC, Adani Green, Mazagon Dock, Tata Investment, and Others Set to Announce Earnings Next Week

As the Q2 FY26 earnings season gains momentum, investors and analysts are closely watching a diverse lineup of companies across sectors that are scheduled to report their financial results in the final week of October 2025. Among the most anticipated are Indian Oil Corporation (IOC), Adani Green Energy, Mazagon Dock Shipbuilders, and Tata Investment Corporation. These announcements are expected to offer critical insights into sectoral performance, macroeconomic trends, and corporate strategies amid a volatile global environment.

Key Earnings Announcements: October 27–29, 2025

Monday, October 27

  • Indian Oil Corporation (IOC): As one of India’s largest oil refining and marketing companies, IOC’s Q2 results will be closely scrutinized for trends in refining margins, inventory gains/losses, and fuel demand recovery. With global crude prices fluctuating and domestic consumption patterns shifting, IOC’s performance will serve as a bellwether for the energy sector.
  • Mazagon Dock Shipbuilders: The defence PSU is expected to post strong numbers, driven by ongoing naval contracts and increased government focus on indigenous defence manufacturing. Investors will look for updates on order book expansion and project execution timelines.
  • Indus Towers: As a key player in telecom infrastructure, Indus Towers’ earnings will reflect the health of India’s telecom sector, especially in light of 5G rollout and tenancy growth.
  • SRF Ltd: The specialty chemicals and packaging films major is likely to report stable growth, supported by its diversified product portfolio and global demand trends.
  • Bata India: The footwear giant’s performance will be a proxy for consumer sentiment and discretionary spending, especially during the festive season.

Tuesday, October 28

  • Adani Green Energy: With its aggressive renewable energy expansion, Adani Green’s Q2 results will be pivotal in assessing the viability of its long-term growth strategy. Key metrics to watch include capacity additions, power generation volumes, and debt servicing.
  • Tata Investment Corporation: As an investment holding company, Tata Investment’s results will reflect the performance of its portfolio companies. Market watchers will be keen to analyze its investment strategy amid market volatility.
  • Canara HSBC Life Insurance, Chennai Petroleum, and others: These companies will also report on Tuesday, offering a broader view of the financial services and energy sectors.

Wednesday, October 29

  • Coal India Ltd and SAIL: These public sector giants will round off the week with their Q2 disclosures. Coal India’s production and offtake numbers, along with SAIL’s steel output and pricing trends, will be crucial for understanding the industrial and infrastructure landscape.

Market Expectations and Sectoral Trends

This earnings season is unfolding against a backdrop of:

  • Moderating inflation and stable interest rates, which could support consumption and investment.
  • Global commodity price volatility, impacting input costs across sectors.
  • Festive demand recovery, especially in consumer-facing industries like retail, auto, and FMCG.
  • Government capex push, benefiting infrastructure and capital goods companies.

Analysts expect a mixed bag of results, with sectors like defence, renewables, and chemicals likely to outperform, while traditional energy and consumer discretionary may face margin pressures.

Eqwires: Your Strategic Edge This Earnings Season

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Whether you’re positioning ahead of IOC’s results or hedging around Adani Green’s volatility, Eqwires offers the tools, insights, and support to help you make informed decisions.

Final Thoughts

With over 300 companies set to report next week, the Q2 earnings season is poised to shape market direction heading into the final quarter of FY26. For investors, this is a critical window to reassess portfolios, identify outperformers, and align with emerging trends.

Stay tuned, stay informed—and let Eqwires be your guide through the noise of earnings season.

Eqwires Research Analyst

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