Company Results

JSW Steel recorded a 6% increase in crude steel production during the December quarter, reflecting steady demand conditions and improved operational efficiency across its domestic facilities. The growth underscores the company’s ability to maintain output momentum despite a challenging global steel environment marked by pricing volatility and uneven demand recovery. Higher capacity utilization, supported by infrastructure spending and stable domestic consumption, played a key role in lifting production volumes.

Kalyan Jewellers reported a strong financial performance in the third quarter, posting a sharp 42% year-on-year increase in consolidated revenue, reflecting resilient consumer demand and effective execution across key markets. The growth was driven by strong festive-season sales, higher footfall, and continued expansion of its retail footprint in India and overseas. Improved product mix, disciplined cost management, and a focus on lightweight and contemporary jewellery further supported topline momentum.

Lodha Developers delivered a strong performance in the third quarter, reporting a 25% increase in sales as residential demand remained resilient across key urban markets. The growth was driven by sustained buyer interest in mid-income and premium housing, supported by stable interest rates, improving consumer confidence, and faster project execution. The company benefited from healthy bookings, higher average realizations, and steady momentum in ongoing launches.

Avenue Supermarts, which operates the D-Mart retail chain, reported a 13 percent year-on-year rise in revenue for the December quarter, with topline reaching Rs 17,612 crore. The performance reflects steady consumer demand, higher store footfalls, and disciplined expansion despite a challenging consumption environment. Growth was supported by mature store performance and incremental contribution from new outlets, even as margins remained under pressure from inflation and competitive pricing.

Bandhan Bank posted a steady expansion in its lending portfolio in the December quarter, recording a year-on-year loan growth of about 10 percent. The increase reflects improving credit demand across select retail and microfinance segments, supported by cautious underwriting and tighter risk controls. While the broader banking system has seen strong credit growth, Bandhan Bank continued to prioritise asset quality and portfolio diversification over aggressive expansion.

Sobha Ltd reported a sharp 52 percent increase in sales, reflecting a strong rebound in residential housing demand across its core markets. The performance was driven by higher booking volumes, improved buyer sentiment, and steady absorption of new and ongoing projects. Demand remained particularly robust in urban centres, where end-users and investors showed renewed confidence in branded developers. Efficient project execution, disciplined inventory management, and a focus on quality helped translate market momentum into sales growth.

Hindustan Zinc reported an increase in overall metal production during the third quarter, underscoring steady operational performance across its mining and smelting operations. Zinc and lead output showed measurable improvement, reflecting better ore availability and higher plant utilization. However, silver production declined during the same period, weighed down by lower grades and mine-specific constraints. The mixed performance highlights the company’s ability to sustain base metal growth while navigating natural variability in precious metal output.

Honda Cars India Limited (HCIL) reported a 3.6% year-on-year increase in sales for December 2025, signaling a steady close to the calendar year. The growth was driven by healthy demand across popular models in the compact and premium segments, supported by improved retail execution and festive-season promotions. While the increase is moderate, it underscores Honda’s ability to maintain market relevance amid competitive pressures and cost-sensitive consumer segments.

Maruti Suzuki is set to revise prices of its small car portfolio in the near future, reflecting mounting cost pressures across the automotive value chain. Higher input prices, increased regulatory compliance expenses, and sustained inflation in logistics and components are narrowing margins in the entry-level segment. While the company has not disclosed the scale or timing of the adjustment, the move underscores the changing economics of affordable mobility in India. Small cars, once the most price-stable category, are increasingly affected by cost pass-through.

TVS Motor Company reported a sharp 50% increase in sales during December, delivering a strong finish to the calendar year and signaling renewed momentum in India’s two-wheeler market. The surge was driven by healthy festive demand, improved supply conditions, and steady recovery across both domestic and export segments. Motorcycles and scooters recorded robust growth, supported by strong retail traction and effective dealer execution. The performance highlights rising consumer confidence and improving affordability as inflation pressures ease.