Wipro to share Q4 results, consider share buyback today. HUL, Axis Bank, TechM dividend, earnings previews & more

A host of largecap companies such as Wipro, Hindustan Unilever (HUL), Axis Bank, Tech Mahindra (TechM), LTIMindtree and Bajaj Finserv will announce their quarterly results today. Among these companies, the board of Wipro will also consider a share buyback while the boards of rest of the companies will consider paying final dividend for FY23. The day will also see ABB India shares turning ex-dividend.

Wipro Q4 results preview

In the case of Wipro, brokerage Elara Securities and Sharekhan expect the IT major to log about 5 per cent growth in profit on about 13 per cent rise in revenues. Centrum Broking forecast about 12.80 per cent YoY rise in revenue for Wipro and a 2.6 per cent rise in profit after tax for the quarter. All eyes would be  on the June quarter guidance and the management commentary on M&A and updates on large deal wins. The IT major would also consider a proposal of share buyback. Wipro had last came out with a Rs 9,500 crore share buyback in 2020. The company had bought back 23.75 crore shares at Rs 400 apiece then. As per data available with AceEquity, the IT major announced about the completion of the extinguishment of shares on January 21, 2021.

HUL Q4 results preview

In the case of HUL, Nuvama Institutional Equities expects the FMCG major to report an 11 per cent YoY rise in profit at Rs 2,525 crore compared with Rs 2,269 crore YoY. It sees revenue for the soap and detergent maker to rise 14 per cent YoY to Rs 15,036 crore against Rs 13,190 crore in the year-ago quarter. Ebitda margin is seen at 23.8 per cent against 23.6 per cent in December and 24.6 per cent in the year-ago quarter.

Axis Bank Q4 results preview

In the case of Axis Bank, the integration with Citibank is likely to impact the operational performance of the bank but business growth is expected to remain strong. ICICI Securities expects met interest income to grow 33.1 per cent YoY and 2.5 per cent QoQ to Rs 11,742 crore while net interest margin are see improvement of 10 basis points .

"CI ratio is expected to increase significantly mainly due to integration cost. On a sequential basis, provisions to increase to Rs 2,055 crore against Rs 1,438 crore in Q3FY23. Thus, we expect the bank to report a loss of Rs 5,487 crore. Asset quality to remain largely steady with GNPA ratio at 2.4 per cent, led by lower incremental slippages," ICICI Securities said.

Tech Mahindra Q4 results preview

TechM was seen as the only exception in the tier-I IT companies that may report a de-growth in sequential CC revenues. The IT major is seen reporting 13.6 per cent YoY (0.2 per cent QoQ) rise in net sales at Rs 13,760 crore. Profit is seen falling 13.9 per cent YoY to Rs 1,330 crore. Revenue in dollar terms may grow at 0.3 per cent, said Motilal Oswal Securities while the same brokerage expects revenue in CC terms to de-grow 0.7 per cent for the quarter.

LTIMindtree Q4 results preview

ICICI Securities said LTIMindtree remains the fastest-growing IT services company under its coverage with a likely 10.4 per cent CC revenue growth in FY24 and 16.3 per cent/ 16.2 per cent growth during FY25E/FY26E. Merger synergies on both revenues and EBIT margins will likely enable an EBIT CAGR of 20 per cent over FY23E-FY26E, it said. For March quarter, it expects LTIMindtree to report 0.5 per cent CC QoQ revenue growth with adjusted EBIT margin expansion of 200 bps QoQ. It sees profit at Rs 1,156 rcore, up 4.1 per cent over Rs 1,110.60 crore YoY. Revenue is seen at Rs 8,742.40 crore, up 21.4 per cent YoY.