Q2 FY25 earnings wave hits retail: V-Mart, Marico, Reliance, HUL, ITC, Nestle, Zomato report
A crowded Q2 results day spans retail-relevant names from V-Mart and Marico to consumer heavyweights Reliance, HUL, ITC, Nestle and Zomato. Reliance posted Rs 16,563 crore profit, down 4.8% YoY, on revenue of Rs 235,481 crore, signaling margin pressure across the consumption complex.
What happened
Q2 FY25 earnings roundup covering numerous Indian companies including retail-relevant names V-Mart Retail, Marico, Reliance, HUL, ITC, Nestle India, Zomato, PVR
Key facts
- Reliance profit Rs 16,563 crore (down 4.8% YoY)
- Reliance revenue Rs 235,481 crore
- Godrej Agrovet profit Rs 95.79 crore (down 7.8%)
- Honeywell Automation profit Rs 115.10 crore (down 5.6%)
Why this matters
The broad multi-brand earnings wave and margin compression at heavyweights could open valuation gaps and partnership or consolidation opportunities among smaller retail names like V-Mart and Marico.
What to watch
- HUL and Nestle gross-margin and rural demand commentary
- ITC cigarette vs FMCG segment volume mix
- Marico input-cost (copra, edible oil) trajectory guidance
- Zomato/Blinkit contribution margin and GOV growth
- Reliance Retail segment revenue and footfall data buried under the consolidated print
- Screen each name's gross-margin trend and volume vs value growth split before repricing the basket
- Underweight discretionary retail (V-Mart) into demand uncertainty; keep staples exposure market-weight pending commentary
- Watch Zomato/quick-commerce take-rate and contribution margin as a separate signal from FMCG trends
- Fade any broad-brush selloff in volume-resilient staples if festive guidance is constructive