Earnings Watchlist: Key Positive & Negative Updates

Positive Highlights • Astral – Plumbing volumes and revenue ahead of estimates • Indraprastha Gas – Operational beat despite challenging quarter • Indian Oil Corporation – EBITDA beat supported by inventory gains • Gujarat Narmada Valley Fertilizers and Chemicals – Turnaround quarter • Seamec – Revenue up 64% YoY • GE Vernova – Strong demand momentum continues • JK Paper – Better realizations improved earnings • Sun Pharma Advanced Research Company – Strong Q4 earnings • Puravankara – Turnaround quarter • DOMS Industries – Stable operational performance • Shivalik Bimetal Controls – EBITDA margin up 29 bps YoY Negative Highlight • Afcons Infrastructure – Weak execution impacted performance Learning Outcome Earnings analysis should focus not just on profit growth, but also on operational trends like volumes, margins, realizations, and execution quality.