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SBI Cards & Payment Services reported a 6.5% drop in Q1 profit , weighed down by a significant rise in write-offs, even as cardholder spending and revenues grew. In a strategic move to elevate its offerings, the firm launched a co-branded credit card with PhonePe. Simultaneously, SBI’s UPI platform underwent scheduled maintenance, briefly disrupting services to improve experience. Additionally, several premium SBI credit cards lost their complimentary air accident insurance benefit, effective July–August 2025. Q1 Financial Performance Profit After Tax : Fell by 6.5% YoY to ₹556 crore, missing analyst expectations of ₹586 crore due to elevated write-offs. Write-offs : Increased sharply by 32% YoY to ₹1,280 crore , reflecting pressure from delinquencies in credit cards and personal loans. Cardholder Behavior : Despite pressure on margins, spending surged 21% , reaching ₹93,244 crore, while active cards rose by 10% . Revenue Growth : Revenue from operations climbed 12%  to ₹4,877 crore; gross NPA ratio stayed elevated at 3.07% . Strategic Product Launch PhonePe Co-Branded Card : SBI Card partnered with PhonePe to launch the PhonePe SBI Card , available in two variants—RuPay-compatible PURPLE  and SELECT BLACK  (also on VISA). Users earn up to 10% rewards  on PhonePe in-app spends, along with 5% rewards  on broader online purchases. The card integrates seamlessly with the PhonePe app for applications, payments, and bill settlement. Payment Service & Benefit Updates UPI Maintenance : SBI announced a 20-minute scheduled maintenance window for its UPI services on August 6, 2025, from 1:00 AM to 1:20 AM , advising customers to use UPI Lite for small, fast transactions during that period. Insurance Benefit Removal : From July 15 and August 11, 2025 , SBI Card discontinued complimentary air accident insurance on several premium variants—including Elite, Miles Elite, Prime, and others—reducing some of the value-added features previously available to cardholders Summary Table Aspect Details Q1 Profit ₹556 crore, down 6.5% YoY; missed estimates Write-offs ₹1,280 crore (+32% YoY) Spending & Active Cards Spending ↑ 21%, Active Cards ↑ 10% Revenue ₹4,877 crore (+12% YoY) New Product PhonePe SBI Card (PURPLE & SELECT BLACK) with strong reward structures UPI Service Interruption Scheduled 20-minute maintenance on August 6 at 1:00–1:20 AM Insurance Perk Removal Complimentary air accident coverage discontinued on select cards by Jul/Aug Overall, SBI Cards is navigating a challenging quarter marked by increased credit stress and shifting benefit structures—yet it continues to push forward with customer-centric products, digital partnerships, and service enhancements. source:-economic times,mint

Tata Motors reported a sharp year-on-year drop in consolidated net profit for the first quarter of FY26, plummeting approximately 62–63% to ₹3,924–₹4,003 crore, primarily due to softness in demand across its passenger and commercial vehicle segments and mounting pressure on its Jaguar Land Rover (JLR) business from new U.S. export tariffs. Despite these challenges, the automaker delivered yet another profitable quarter, supported by cost efficiencies and robust fundamentals, while maintaining cautious optimism driven by tariff clarity and festival season demand. Financial Highlights Net Profit : The company posted a consolidated net profit of ₹3,924 crore, down 63% YoY from ₹10,514 crore. Some outlets reported ₹4,003 crore—a 62.2% drop—attributing this to lower volumes and the absence of last year's one-off gains Revenue : Operations revenue declined by approximately 2.5%, falling to ₹1.04 lakh crore compared to ₹1.07 lakh crore in Q1 FY25 EBITDA & Margins : EBITDA dropped sharply—by 35–36% YoY—to ₹9,700 crore, and margins weakened markedly Segment-wise Performance Jaguar Land Rover (JLR) : Revenue slipped 9.2% to £6.6 billion, with EBIT margin down significantly to 4.0% (−490 bps). The decline was attributed to U.S. tariffs and the phasing out of legacy Jaguar models Despite this, JLR posted its 11th consecutive profitable quarter, although free cash flow remained negative at £758 million Commercial Vehicles (CV) : Revenue declined 4.7% to ₹17,000 crore, but operating margins improved—EBITDA margin increased by 60 bps to 12.2%, and EBIT margin rose by 80 bps to 9.7%, assisted by better realizations and cost rationalization Passenger Vehicles (PV) : Revenue fell 8.2% to ₹10,877 crore. Margins deteriorated—EBITDA margin dropped 180 bps to 4%, and EBIT slipped into loss at −2.8% (−310 bps) Broader Context & Management’s View Tariff Impact : US duties accounted for a hit of £254 million (~₹2,230 crore) to quarterly earnings, and JLR forecast remains intact as a U.S.–UK trade deal is expected to ease tariff pressures going forward Strategic Positioning : CFO P.B. Balaji highlighted that despite macroeconomic challenges, the company remains strategically resilient. With hopes pinned on improving festive demand and clarity over tariffs, Tata Motors is working to regain momentum, especially ahead of a planned Oct 2025 demerger Summary Table Metric Q1 FY26 YoY Change / Commentary Consolidated Net Profit ₹3,924–₹4,003 crore ↓ ~62–63% (despite beating some estimates) Revenue (Consolidated) ₹1.04 lakh crore ↓ ~2.5% JLR Revenue £6.6 billion ↓ 9.2% — Tariff-hit, legacy model phase-out JLR EBIT Margin 4.0% ↓ 490 bps CV EBITDA / EBIT Margins 12.2% / 9.7% ↑ 60 bps (EBITDA), ↑ 80 bps (EBIT) PV EBIT Margin –2.8% ↓ 310 bps (loss widened) source:-buisness today,economic times

State Bank of India (SBI), the nation’s largest lender by assets, posted a standout net profit of ₹19,160 crore  for the quarter ended June 2025, marking a sharp 12–12.5% rise  from ₹17,035 crore a year earlier—surpassing market expectations. This impressive growth was fueled by a robust surge in non-lending income, even as net interest margins came under pressure amid a challenging interest rate environment 1. Profit & Core Income Metrics The bank achieved a net profit of ₹19,160.44 crore , showing a 12.48% YoY increase  over the ₹17,035 crore recorded in Q1 FY25. Total operating profit rose 15.49%  to ₹30,544 crore . 2. Net Interest Income & Margin Trends Net interest income remained relatively flat at ₹41,072 crore , down just 0.1–0.13% YoY . Net interest margin (NIM) contracted, with overall NIM at 2.90%  (down ~32 bps) and domestic NIM at 3.02%  (down ~33 bps). 3. Surge in Non-Interest Income SBI’s non-interest income jumped 55% YoY  to ₹17,346 crore , bolstered by substantial gains from treasury operations and forex. 4. Deposit, Loan Growth & Asset Quality Advances grew 11.6–11.61% YoY  to ₹42.5 lakh crore , with SME loans leading the way (+19%). Deposits rose 11.66% , while the CASA ratio stood at 39.36% . The gross NPA ratio improved to 1.83% , and net NPA improved to 0.47% , underlining strong asset quality. 5. Stock Reaction Despite the robust financial performance, SBI’s stock closed lower by approximately 0.93%  at around ₹704.83 , signaling cautious investor sentiment amid market volatility. Summary Table Metric Q1 FY26 YoY Change / Notes Net Profit ₹19,160 crore ↑ ~12–12.5% (past: ₹17,035 crore) Operating Profit (PPOP) ₹30,544 crore ↑ ~15.5% Net Interest Income (NII) ₹41,072 crore ↓ ~0.1–0.13% Net Interest Margin (NIM) 2.90% / Domestic 3.02% ↓ 32–33 bps Non-Interest Income ₹17,346 crore ↑ ~55% Advances & Deposits Growth ~11.6% each Solid financing momentum Asset Quality (Gross / Net NPA) 1.83% / 0.47% Improved vs. YoY Share Price Movement ~–0.93% (₹704.8 closing) Subdued despite strong earnings SBI delivered a balanced performance—anchored by exceptional non-lending revenues and controlled costs, even as margins came under pressure. Stable asset quality and healthy advance growth suggest sustained operational strength. source:-buisness today,mint

Reliance Industries Ltd (RIL) has formally written off its entire $200 million (approximately ₹1,645 crore) investment in quick‑commerce startup Dunzo, as disclosed in its FY 2025 annual report. The investment, which gave Reliance Retail a substantial stake of about 25.8%, has now been fully impaired, and Dunzo is no longer classified as a related party. Background & Strategic Shift Reliance Retail initially backed Dunzo in January 2022 through a $240 million round, acquiring a roughly 26% stake to bolster its last‑mile logistics capabilities and support JioMart’s quick‑commerce ambitions. However, over the following years, Dunzo faced steep financial headwinds: mounting losses, operational cash crunch, layoffs, unpaid dues, and a steep decline in valuation—now estimated at ₹300 crore ($25–30 million), a fraction of its previous $770 million valuation. Immediate Effects & Strategic Outcomes Financial Recognition : The write-off marks a clear exit from the venture, signaling Reliance's decision to cease further investment or support in distress sale discussions. Board and Founder Transition : Dunzo’s last co-founder, Kabeer Biswas, is reportedly exploring exit options while negotiating with potential acquirers and investors, pending Reliance’s approval. Stock Market Ramifications Despite this sizable write-down, Reliance Industries’ stock showed only modest movement. On August 7, shares dipped approximately 0.15% to close at ₹1,390.85—underperforming slightly while the broader market saw gains. This muted response suggests that investors view the write-off as a contained strategic correction, unlikely to materially affect RIL’s broader financial outlook. Summary Table Aspect Details Investment Write-Off $200 million (~₹1,645 crore) fully impaired Reason Dunzo’s steep decline in valuation, financial distress, and operational failure Strategic Shift Reliance ending active involvement and distancing from quick-commerce venture Market Reaction Slight stock dip (~0.15%), reflecting a controlled market response Next Steps Potential founder exit and acquisition talks, subject to shareholder decisions Overall, Reliance’s decision to write off its Dunzo investment reflects a calculated strategic retreat from a faltering venture. While disappointing, the measured stock market response underscores investor confidence in Reliance’s diversified business strength and resilience. source:-times of india,economic times

Titan Company delivered a stellar performance in Q1 FY26, reporting a consolidated net profit of ₹1,091 crore—marking a sharp 52.5% year-on-year jump—driven by strong jewellery sales and steady growth across all business verticals. Consolidated revenue rose by 24.6% to ₹16,523 crore, surpassing analyst expectations. The company’s flagship jewellery segment remained the primary growth engine, while its watches, wearables, and emerging businesses also posted impressive gains. Despite challenges from rising gold prices, Titan maintained strong margins and hinted at global expansion plans, including a potential manufacturing hub in the Gulf to tap into the U.S. market. 1. Jewellery Segment Strength Titan’s jewellery business—fuelling over 80% of revenue—posted a 19% sales growth  to ₹12,797 crore (excluding bullion and digi-gold) Within that: Domestic brands Tanishq, Mia, and Zoya grew 18% to ₹11,217 crore. CaratLane soared 39% to ₹1,026 crore. International jewellery grew a striking 49%, contributing ₹554 crore 3. Watches & Emerging Businesses The watches and wearables segment  recorded revenue of ₹1,273 crore—a 24% jump YoY—with notably strong margins Engineering & Automation business  grew 56% YoY to ₹307 crore, delivering ₹75 crore in EBIT (24.4% margin) The Emerging Businesses  (including Taneira, fragrances, and accessories) posted ₹108 crore in income—up 35% YoY—with operating losses narrowing to ₹14 crore from ₹26 crore 4. Margins & Strategic Insights EBITDA  rose 46.7% YoY to ₹1,830 crore; EBITDA margin expanded by ~170 bps to 11.1% EBIT margin  in jewellery improved to around 11% ; Reuters reported an overall EBIT margin of ~11.8%, up from 9.8% a year ago. The increase in gold prices (approx. 5.5% during the quarter) both boosted revenues and weighed on margins, but consumer appetite—especially for lower-carat jewellery and gold coins—remains strong Titan is evaluating the establishment of a manufacturing facility in the Gulf region to enhance access to the U.S. market Summary Table Metric Q1 FY26 YoY Growth / Insight Consolidated PAT ₹1,091 crore ↑ ~52.5% Consolidated Revenue ₹16,523 crore ↑ ~24.6% Jewellery Revenue ₹12,797 crore ↑ ~19%; Domestic +18%, CaratLane +39%, Intl +49% Watches Revenue ₹1,273 crore ↑ 24% Engineering & Automation ₹307 crore (EBIT ₹75 cr) ↑ 56%; EBIT margin 24.4% Emerging Businesses ₹108 crore (loss ₹14 cr) ↑ 35%; Loss narrowed Margins (EBITDA/EBIT) ~11.1–11.8% Expanded by ~170–200 bps Strategic Move Considering Gulf manufacturing To boost U.S. access Titan delivered a strong Q1 with stellar growth , across its core jewellery, watches, and newer business segments. While elevated gold prices pose margin challenges, consumer confidence and diversified strength  continue to drive performance. source:-economic times,mint

President Donald Trump signed an executive order imposing an additional 25% tariff  on most Indian imports, raising the total U.S. tariff burden on India to 50% . The order specifically cites India’s continued purchase of Russian oil  as the justification, framed as a national security concern. The additional duty becomes effective 21 days from August 7 , making August 27  the start date for the full 50% rate. The expanded tariff burden makes India one of the highest‑taxed trading partners globally under Trump’s tariff regime, alongside countries like Brazil. While the second 25% “penalty” targets Russia‑linked trade, the primary 25% was already part of earlier reciprocal national tariffs announced in early August. Despite exemptions for certain sectors like steel, aluminium, and pharma under prior rules, the new penalty covers a broad range of goods  📌 Key Details: New Tariff Imposed:  +25% on top of existing 25% → total 50%  for most Indian goods Effective Date:  August 27, 2025 (21 days after order issuance) Trigger:  India’s continued imports of Russian oil (deemed a national security threat) Targeted Sectors:  Broad range including textiles, auto parts, chemicals, electronics — excluding some previously exempt items Diplomatic Fallout:  India labeled the move “unfair, unjustified and unreasonable” and warned of WTO-based response options  🏭 Policy & Business Impact: 1. Trade and Export Shifts Analysts expect U.S.-bound exports from India could decline by 40–50% , with goods priced at parity or lower becoming uncompetitive in the U.S. market Exporters in textiles, gems & jewellery, electronics, and auto components may shift manufacturing to low‑tariff countries like Dubai or Mexico for re-export to the U.S.  2. Economic Strategy India is doubling down on a “swadeshi” or self-reliance initiative, pushing diversification across Europe, ASEAN, and other markets to reduce reliance on U.S. demand  The The government is reviewing concessions in agriculture and dairy as negotiation levers, while considering phased adjustments in its Russian crude intake if matching U.S. pricing becomes viable  📉 Expected Effects on Indian Stock Market: All outcomes below are probable scenarios , based on historical reactions and expert commentary—not guaranteed events. Export‑Linked Sectors Under Pressure : Shares of textile, pharmaceutical, gem & jewellery, electronic and auto‑component producers may see sharp declines on anticipated demand loss. Currency Volatility : The Indian rupee could weaken moderately as export earnings slow and foreign portfolio flows turn cautious. Investor Risk-Off Mode : Foreign institutional investors may reduce exposure to India amid rising global trade friction, potentially leading to downward pressure on indices like the Nifty. Relative Strength in Domestic Stocks : Sectors focused on internal consumption—such as FMCG, retail, and infrastructure—might outperform if global-facing sectors suffer. Bond Flows Could Turn Supportive : In case of risk aversion, Indian government debt yields may soften as investors seek safe-haven assets. Trump’s latest tariff escalation opens a new phase in U.S.–India economic relations, signaling broader geopolitical implications. The move underscores how energy security decisions—especially linked to Russia—are now deeply intertwined with global trade policy shifts. source:-white house,economic time s

Hero MotoCorp, India’s largest two-wheeler manufacturer, reported a steady financial performance for the quarter ended June 2025, with net profit remaining flat despite a notable decline in revenue. The company’s Q1 FY26 standalone net profit came in at ₹1,126 crore, almost unchanged from ₹1,123 crore in the same quarter last year. However, its consolidated profit rose sharply, aided by a significant one-time gain from dilution of its stake in EV startup Ather Energy. The domestic two-wheeler market showed signs of softness during the quarter, as demand in entry-level commuter segments remained sluggish. Dispatches for the quarter fell by nearly 11% YoY, driven by weak rural demand and delayed festive season triggers. However, the company managed to cushion the impact through a 26% growth in exports, which contributed positively to both volumes and margins. Revenue from operations slipped to ₹9,579 crore, a 5.6% drop compared to the previous year, impacted by lower volumes and product mix. Despite this, operational efficiency and cost control helped the company maintain a healthy EBITDA of ₹1,382 crore, with margins holding firm at 14.4%. Hero’s consolidated profit after tax stood at ₹1,706 crore, up significantly from last year, thanks to a ₹722 crore gain from its strategic dilution in Ather Energy. This not only boosted short-term profitability but also reinforced the long-term value creation from its EV investments. Looking forward, the management remains cautiously optimistic. With the festive season ahead, improved monsoon conditions, and a pipeline of refreshed models — including premium motorcycles and VIDA EV variants — Hero expects demand to pick up. The company also highlighted its focus on expanding international markets and increasing the share of electric and premium offerings in the product mix. 📊 Key Financial Highlights – Hero MotoCorp (Q1 FY26): Standalone Net Profit:  ₹1,126 crore (vs ₹1,123 crore in Q1 FY25) Consolidated Net Profit:  ₹1,706 crore (includes ₹722 crore Ather gain) Revenue from Operations:  ₹9,579 crore (down 5.6% YoY) EBITDA:  ₹1,382 crore EBITDA Margin:  14.4% (vs 14.39% in Q1 FY25) Total Dispatches:  ~13.67 lakh units (down ~11% YoY) Export Volume Growth:  +26% YoY Domestic Volume Drop:  –12% YoY source:-hindustan times, economic time

Bajaj Auto began FY26 on a strong note, reporting a 14% rise in consolidated net profit for Q1, driven by robust export performance and growing contributions from its electric and premium motorcycle segments. The company’s net profit reached ₹2,210 crore in Q1 FY26, compared to ₹1,942 crore in the same quarter last year, while revenue from operations rose by 10% to ₹13,133 crore. Despite a decline in domestic volumes, Bajaj managed to improve profitability through a better product mix, with higher sales of premium bikes and increased export realisations. Its international business witnessed a revival, especially in African and Latin American markets, as macroeconomic conditions stabilized and forex availability improved. On the EV front, Bajaj’s Chetak electric scooter line saw sales double year-on-year. The Chetak range now contributes over 20% of domestic revenue, reflecting growing consumer interest in clean mobility. The company also reported encouraging momentum in its premium offerings including KTM and Triumph, which continued to expand their presence across key urban centers. Margins saw a slight contraction due to input cost variations and product mix, with EBITDA margin settling at 19.7%, slightly down from 20.3% last year. Still, strong cost controls and pricing power allowed the company to maintain profitability at record levels. Looking ahead, Bajaj Auto is optimistic about further gains from its electric mobility strategy, increasing export demand, and new model launches in both ICE and EV categories. Expansion of the Chetak dealership network to 200+ cities and the ramp-up of the EV production capacity at the Akurdi facility are key focus areas for the company. 📊 Key Financial Highlights – Bajaj Auto (Q1 FY26): Consolidated Net Profit:  ₹2,210 crore (up 14% YoY) Revenue from Operations:  ₹13,133 crore (up 10% YoY) EBITDA:  ~₹2,482–₹2,793 crore (varies by cost structure) EBITDA Margin:  19.7% (vs 20.3% in Q1 FY25) Total Volumes:  11.11 lakh units (+1% YoY) Export Volumes:  4.76 lakh units (up 16% YoY) Domestic Volumes:  Down 8% YoY Chetak EV Sales:  Doubled YoY; over 20% of domestic revenue Premium Segment (KTM, Triumph):  Strong YoY growths.   source:-hindustan times,economic times

Maruti Suzuki India reported a 3 percent year‑on‑year rise  in total vehicle sales in July 2025, with 1,80,526 units  sold compared to 1,75,041 units in July 2024, underpinned by a robust 32 percent increase in exports . While domestic passenger vehicle dispatches  remained largely flat at 1,37,776 units , the compact car segment surged, offsetting declines in mini cars and light commercial vehicles. Exports climbed to 31,745 units , demonstrating the company’s growing reliance on overseas markets to boost overall performance.  📊 Key Figures – July 2025 Sales Snapshot Total sales  (domestic + exports): 1,80,526 units  (up 3% YoY)  Exports : 31,745 units , up ~32% from July 2024 Domestic PV dispatches : 1,37,776 units  (flat YoY) Compact segment : 65,667 units , up from 58,682 Mini cars  (Alto & S‑Presso): 6,822 units , down sharply Utility vehicles  (e.g., Brezza, Ertiga): 52,773 units , declining from 56,302 Van (Eeco) : 12,341 units , modest growth over last year Super Carry (LCV) : 2,794 units , slightly below prior year volumes 🧭 Brief Overview Compact cars lead growth:  Strong performance in models like Swift, Dzire, WagonR, Baleno, Celerio, and Ignis drove segment gains. Mini and LCV segments under pressure:  Declines in sales of the Alto, S‑Presso, and Super Carry reflected softer demand. Exports emerge as key driver:  A sharp uptick in overseas sales cushioned the impact of flat domestic volumes. Looking ahead, Maruti Suzuki’s export strength and compact segment dominance position it well for the upcoming festive season and the rest of FY26. Source:-Economic Times,India Today

Coal India, India’s largest state-owned coal miner, witnessed a nearly 20% year-on-year fall in consolidated net profit , reporting ₹8,734 crore in Q1 FY26, down from ₹10,944 crore in Q1 FY25. Revenue from operations declined ~4.4% to ₹35,842 crore. EBITDA declined 13% YoY, pulling down the margin to 34.9%, while coal production and offtake both eased, highlighting demand softness amid subdued power generation and price pressure. 📊 Q1 FY26 Financial Highlights Metric Q1 FY26 YoY Change Insight Consolidated PAT ₹8,734 cr –19.5% Impacted by lower volumes and weaker prices Revenue from Operations ₹35,842 cr –4.4% Decline led by lower coal sales EBITDA ₹12,521 cr –13% Coal Production ~183.3 million tonnes –3% Production dipped from 189 MT YoY Total Expenses ₹25,893 cr +2% Operating cost increased marginally Dividend ₹5.50 per share (interim) — Record date: Aug 6; payment by Aug 30 Key Drivers & Operational Trends Lower volumes and pricing pressure : Weaker coal demand from the power sector and softer pricing resulted in a ~4% dip in revenues. Production also eased slightly. EBITDA contraction : Margin slipped to 34.9% due to lower realizations and steady operating costs. Stable cost base : Despite declining top-line, expenses edged up ~2%, reflecting fixed cost structure.  Dividend continuity : The board declared an interim dividend of ₹5.50/share, underscoring robust cash flow.  Market Reaction & Analyst Sentiment Coal India shares remained steady with limited market chatter post-results. Analysts highlighted the cyclical slump in coal demand, supply headwinds in mining volumes, and continued margin pressure. Yet, strong dividend yield was seen as cushion in investor sentiment.  Broader Industry Context Before Outlook Coal demand in India remains vulnerable to erratic monsoon cycles, falling thermal power dispatch, and rising visibility of renewable energy uptake. Coal India's earnings reflect this headwinds-driven perfomance with limited growth visibility until power demand rebounds or demand mix improves. Renewables transition efforts and diversification into gasification/hydro storage could help medium-term resilience. Outlook & Forward‑Looking View Key factors to watch in coming quarters: Power sector coal consumption trend—especially as monsoon migrates and summer demand softens Coal off-take and volume recovery Margin trends: realization levels vs cost containment Dividend policy and free cash flow consistency Strategic diversification initiatives (e.g., gasification, pump storage projects) Coal India's status as a high-dividend PSU offers a steady income avenue, but near-term earnings remain tied to cyclical coal demand—with limited margin flexibility. Source:-Coal India,Chatgpt

Maruti Suzuki posted a modest 0.9% YoY gain in consolidated net profit  at ₹3,792.4 crore in Q1 FY26, up from ₹3,759.7 crore a year earlier. Despite a 6% decline in domestic sales , overall performance was supported by a 37.4% surge in exports , pushing total volumes up 1.1%. Revenue grew ~8% YoY to ₹38,605 crore, aided by price increases implemented in April. Robust non-operating income  nearly doubled, offsetting pressure on operating margins due to elevated costs.  📊 Q1 FY26 Financial Highlights Metric Q1 FY26 YoY Change Key Insight Consolidated PAT ₹3,792 cr +0.9% Flat growth amid margin headwinds Standalone PAT ₹3,711.7 cr +1.7% Export-led resilience in standalone business Revenue from Operations ₹38,605 cr +7.9–8.1% Driven by export growth and price hikes Sales Volume 5,27,861 units +1.1% Domestic decline offset by 37% surge in exports Domestic Sales 4,30,889 units –4.5% Exports 96,972 units +37.4% Export strength becomes key growth lever Operating EBIT ₹3,057.8 cr –18.9% Margin pressure from rising input & plant start-up costs EBIT Margin ~8.3% ↓ from 11.1% Margin contraction due to costs & forex headwinds Other Income ~5% of net sales Sharp YoY rise Other income almost doubled YoY PAT Margin ~10.1% ↓ from 10.8% Decline in overall profit margin Key Drivers & Operational Commentary Export-led growth:  Strong international demand and price hikes launched in April helped offset a nearly 6% decline in domestic auto sales. Total volumes rose 1.1% YoY.  Rising costs & start-up expenses:  Margins came under pressure due to increasing commodity prices, stronger rupee, promotional spends, and greenfield plant expenses Non-operating income boost:  Income from treasury and investments almost doubled, bolstering bottom-line despite operating softness.  Market Reaction & Analyst Sentiment Maruti's Q1 performance surprised analysts with its ability to beat consensus estimates (~₹3,105 cr) despite a sluggish domestic environment. Exports and higher non-core income helped cushion the impact of weak domestic demand. Investors appeared cautiously optimistic, with stock trading roughly flat post-announcement.Agent analysts noted challenges in reshaping the product mix toward higher-margin SUVs while managing legacy hatchback pressure.  Broader Industry Context Amid muted industry-wide domestic PV demand—some of the lowest in two years—Maruti stood out by leveraging its exports and cost containment efforts. Still, rising commodity prices and slower uptake in entry-level segments flagged a tactical pivot evolving toward higher-value utility vehicles and urban markets.  ✅ Summary & Outlook Maruti Suzuki’s Q1 FY26 results reflect resilience in volume and export strategy , coupled with strong non-core income cushioning operational softness. Though profitability rose marginally, significant margin pressure  and domestic demand headwinds  persist. Key near-term focus will be: Recovery in domestic demand and volume mix Expansion in SUV and UV segments Cost control in raw materials and promotional spends Sustained export momentum and non-operating income streams Source:-Maruti Suzuki India,Chatgpt

Adani Enterprises, the infrastructure-led flagship of the Adani Group, reported a sharp 49–50% YoY decline in consolidated net profit  to ₹734‑₹976 crore in Q1 FY26, depending on the source. Revenue from operations fell between 14 — 9.7% to ₹21,960‑₹27,960 crore. The steep drop was driven by subdued coal trading volumes, falling power demand, and slowdowns in new energy businesses. Operating EBITDA declined ~12%, though Adani’s incubating businesses (airports, roads, data centres, green hydrogen) continued to deliver resilience. 📊 Q1 FY26 Financial Highlights Metric Q1 FY26 YoY Change Key Insight Consolidated PAT ₹734‑₹976 cr –45% to –50% Weaker IRM/mining trading & absence of exceptional gains  Revenue from Operations ₹21,916–27,961 cr –14% to +9.7% Decline driven by coal segment; revision in IRM volatility EBITDA ₹3,786 cr –12% Incubating infra segment still contributed ~74%, up 5% YoY Coal Trading EBIT ❌ Not standalone available –45% Coal trading still ~36% of revenues; performance hit by mild summer, early monsoon New Energy Segment EBITDA ₹982 cr –34% Revenue down ~11% and margins under pressure Airports EBITDA ₹1,094 cr +61% Strong growth offset some decline in legacy verticals Net External Debt ₹52,667 cr Higher vs Mar‑25 ~60% of debt deployed in infra incubation businesses Key Drivers & Segment Trends Coal Trading Weakness : Weaker summer, earlier monsoons, and slowing power demand led to reduced coal-fired energy demands. Coal trading revenue and profit both fell ~45%, a significant blow to overall earnings. IRM & Commercial Mining : Volatility in index prices and lower trade volumes weighed down performance in integrated resource management.  Emerging Infrastructure (Incubating) Businesses : Airports, roads, green hydrogen, and data centres continued growth momentum. Airports EBITDA surged ~61%, while incubation portfolio EBITDA grew ~5%, constituting ~74% of total.  Market Reaction & Analyst Commentary Equity Market Response : Shares dropped ~3.8–4% post-earnings, trading around ₹2,431–2,447, as investors reacted to weak core performance.  Analyst View : Mixed sentiments. While coal/trading underperformance raised concerns, the strong performance of incubating infra assets was seen as validation of AEL’s long-term strategy and asset diversification.  Broader Context Ahead of Outlook Amid a backdrop of muted global coal demand and cyclical softness in IRM, Adani Enterprises’ Q1 results underscore the transition challenges from legacy energy operations to being a diversified infrastructure incubator. The rising contribution of high-growth segments, including airports and roads, provided a cushion but are yet to scale sufficiently to offset legacy volatility. Given rising debt and curtailed coal margins, financial resilience and execution in incubation assets remain pivotal.  ✅ Outlook & Forward-Looking View The near-term focus should be on: Coal-trading volume and price recovery Scalability and operational ramp-ups in airports and data infrastructure Debt servicing ability amid elevated borrowing Execution of green transformation initiatives in new energy, defence, and logistics If these incubating verticals keep their momentum, Adani Enterprises could pivot toward more stable, asset-backed growth — but coal volatility and macro swings remain key near-term drag factors. Source:-Adani Enterprises,Chatgpt