Unveiling Q4 Results: Top 5 Companies Propel Nifty’s Earnings Growth, Impact on Cryptocurrency Market and Coin Value (NIFTY)

• The Q4FY24 earnings for most companies have been in line with estimates, with growth driven by domestic cyclicals like BFSI and auto, according to a report by Motilal Oswal.
• As of May 4, 2024, 28 companies from the Nifty50 index have announced their results, showing a 13% growth in earnings against an expected 8%.
• The rise in earnings has been propelled by HDFC Bank, Coal India, ICICI Bank, Maruti Suzuki, and TCS, contributing 75% to the incremental YoY accretion in earnings.

Q4FY24 earnings report shows growth driven by domestic cyclicals with BFSI and auto leading the way, according to Motilal Oswal’s interim earnings review.

Q4FY24 Earnings Overview

As of May 4, 2024, 28 companies from the Nifty50 index have announced their 4QFY24 results. These companies constitute 62% of the estimated PAT for the Nifty Universe, 46% of India’s market capitalisation, and 66% weightage in the Nifty. For these 28 Nifty companies, earnings grew 13% vs expectations of 8%.

Key Contributors to Earnings Growth

The rise in earnings till now has been propelled by HDFC Bank, Coal India, ICICI Bank, Maruti Suzuki, and TCS. These five companies contributed 75% to the incremental YoY accretion in earnings. Conversely, Tech Mahindra, Reliance Industries, and Wipro contributed adversely to Nifty earnings.

Conclusion

The Q4FY24 earnings have been in line with estimates for most companies, with growth driven by domestic cyclicals like BFSI and auto. The rise in earnings has been propelled by key players like HDFC Bank, Coal India, ICICI Bank, Maruti Suzuki, and TCS. However, Tech Mahindra, Reliance Industries, and Wipro have contributed adversely to Nifty earnings. The report suggests a positive outlook for the BFSI and auto sectors in the coming quarters.