Whalesbook
Kaisi chal rahi hai India Inc ki Q4 performance?
Dekho, India mein FY26 ke liye Q4 results aane shuru ho gaye hain. Lagbhag 50 companies ne apne numbers reveal kiye hain banking, retail, capital goods, aur manufacturing jaise sectors se. Abhi tak ka scene thoda mila-jula hai, matlab kuch companies ne toh achha kiya hai par kuch ko thodi dikkat ho rahi hai.
Kahan kya hua? BHEL ka damdaar rise, par Ambuja Cements aur Tata Chemicals ko laga jhatka
Ambuja Cements ka revenue toh 20% badhkar ₹10,180 crore ho gaya hai. Lekin, bhai, profit 86% gir gaya, sirf ₹367 crore reh gaya. Iska reason hai badhti costs jisne EBITDA margins ko 13.2% se kam karke 18.2% kar diya. Iske bawajood ki kuch analysts ne 'Buy' rating di hai, stock 5% gira hai kyunki valuation kaafi high hai.
Vahi doosri taraf, Bharat Heavy Electricals Limited (BHEL) ne toh kamaal kar diya! Profit 191% badhkar ₹390 crore pahunch gaya, aur revenue bhi 16.4% badhkar ₹8,473 crore ho gaya. Haalat toh achhi hai, par result aane ke baad BHEL ka stock thoda gira, shayad kisi plant ke temporary band hone ki khabar se. Analysts ka target ₹272.91 hai, jabki stock May 2nd, 2026 ko ₹352.41 par trade kar raha tha aur P/E ratio lagbhag 153.22 hai, jo kaafi zyada lag raha hai.
Tata Chemicals ka loss aur badh gaya, ₹93 crore ka net loss hua hai. Iska karan hai soda ash market mein supply zyada hona aur export prices ka kam hona. Stock bhi gira hai. Analysts ne 'Sell' kaha hai target ₹726.62 ke saath, aur stock ₹809.00 par tha jiska P/E ratio lagbhag 30.64 hai, jo lagta hai expectations se zyada hai.
High Valuations ka Dar
Sabse badi chinta yahi hai ki kai stocks bahut zyada mehange hain. Ambuja Cements ₹444.20 ke aas paas tha jiska P/E 32.71 tha. BHEL ka P/E 153.22, Tata Technologies ka ₹581.35 par 42.53, KEI Industries ka ₹4,875.00 par 53.94, aur Godrej Properties ka ₹1,835.20 par 135.41 hai. Matlab, kai companies mein growth pehle se hi price mein add hai.
Cement sector mein costs aur fuel price badhne ka pressure hai. Capital goods sector government projects par depend karta hai. Chemical sector grow kar raha hai, par Tata Chemicals ko abhi thodi mushkil ho sakti hai.
Aage kya dekhna hai?
Ab investors Q4 FY26 ke outlook par nazar rakhenge. Company kya bolti hai future ke liye, volume kitna rahega, profit margins kaise rahenge, yeh sab important hai. Ambuja Cements ko margins improve karne honge. BHEL ko apne order book ko convert karna hoga. Tata Chemicals ko soda ash market aur debt manage karna hoga. Dekhna hoga kaun si companies apna performance aur financial management dikha paati hain.