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Amid generally weak sales performance, sectors that are likely be stronger are IT (14 percent), pharma (12 percent), media & entertainment (12 percent) and retail (10 percent), says Emkay.
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Weak commodity prices, delayed capex recovery and soft rural demand are the key factors that will weigh on June quarter corporate earnings, says CRISIL Research.
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In an interview to CNBC-TV18, Niraj Dalal, founding partner, 3A Capital Advisors says a lot of Nifty companies reported poor Q4 earnings and therefore, the market is currently factoring in a very pessimistic scenario for a couple of those stocks.
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In an interview to CNBC-TV18, independent market expert Hemindra Hazari, says an investor should not focus on margin expansion as it is impacted by fall in commodity prices.
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In an interview to CNBC-TV18, Kunal Sheth of Prabhdas Lilladhar shares his views on BHEL‘s Q4 numbers.
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Bharat Heavy Electricals (BHEL) will announce its fourth quarter earnings (on Tuesday), which are expected to be weak as its provisional numbers already indicated the same. Profit after tax is seen falling 57.5 percent year-on-year to Rs 783 crore during January-March quarter due to slowdown in execution.
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JP Morgan is underweight on BHEL, cutting target price by 25 percent at Rs 200. The brokerage has also reduced its FY15 and FY16 EPS estimates by 27 percent and 13 percent respectively on the back of severe execution challenges and possibility of deferral of order prospects. It states that either BHEL‘s order book is slow moving or non-moving.
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Speaking to CNBC-TV18, Tarang Bhanushali said margin pressure for BHEL is likely to ease from FY16 onwards but downgraded the company‘s earnings estimates for FY15.
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Rabindra Nath Nayak, lead research analyst, power and capital goods, SBICap Securities believes BHEL numbers will continue to be disappointing even in the next quarter. According to him, things will start looking up for the company from the second half of FY16.
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Bharat Heavy Electricals' (BHEL) third quarter profit after tax may decline 37.8 percent year-on-year to Rs 432 crore on account of lower operating income.
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Kunal Sheth, analyst, Prabhudas Lilladher believes the company is more likely to focus on its order pipeline than on its margins.
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Slow execution of projects, Amol Rao, research analyst, Anand Rathi, says will take a toll on the company's cash flows.
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Margin is not up to the mark and we were expecting Rs 890 crore of profit after tax, Rabindra Nath Nayak, SBI Cap Securities said.
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Net sales may slip 12.5 percent to Rs 8,790 crore compared to same quarter last year on account of on the back of depleting order book.
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Sales of Bharat Heavy Electricals are expected to decrease by 4.8 percent Q-o-Q (down 16.4 percent Y-o-Y) to Rs 8397.9 crore, according to Motilal Oswal.
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Revenue of BHEL is expected to decrease by 0.5 percent Q-o-Q (down 12.5 percent Y-o-Y) to Rs 8938.8 crore, according to ICICIdirect.com.
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Bharat Heavy Electricals Ltd (BHEL) is an important stock to watch out for in the capital goods space. The company will report its Q3 numbers.
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Outstanding orderbook position for BHEL stood at Rs 1.02 lakh crore as on September 2013, down 17 percent year-on-year and 6 percent sequentially.
On profit front.
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Quant Capital's Abhineet Anand believes the valuations for BHEL at current market price look quite expensive. He expects FY14 sales to decline by 22 percent YoY and margins drop to 15 percent from 18 percent previously.
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Profit after tax of the company may fall 37.4 percent year-on-year to Rs 798 crore and net sales is likely to decline 17.9 percent Y-o-Y to Rs 8,669 crore in three-month period ended September 2013.
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Sales of Bharat Heavy Electricals are expected to increase by 33 percent Q-o-Q (down 19 percent Y-o-Y) to Rs 8,608 crore, according to KR Choksey.
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Sales of Bharat Heavy Electricals are expected to increase by 29.8 percent Q-o-Q (down 20.7 percent Y-o-Y) to Rs 8,243.7 crore, according to Motilal Oswal.
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Revenues of Bharat Heavy Electricals are expected to increase by 25.5 percent Q-o-Q (down 22.1 percent Y-o-Y) to Rs 8,106 crore, according to ICICIdirect.com.
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According to Amol Rao, the liquidity issue still plagues the country, the economy and the clients that BHEL had problems with in this quarter could not garner their finances and this problem could persist in the next quarter.
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BHEL's backlog of around Rs 1,10,000 crore with three year execution track record would give it a revenue line of somewhere around Rs 35,000-40,000 crore in the next few years. To that extent this revenue decline was anticipated. L&T is better off because other companies in the space have had 10-15 percent decline
