Sector analysis · India

Consumer Services sector earnings growth, Q4 FY26

The 20 largest Consumer Services companies by market cap at the end of Q4 FY26 (31 Mar 2026), compared with Q3 FY26.

The top 20 at Q4 FY26

Q4 FY26 vs Q3 FY26: combined net profit ₹3,022 cr (0%), median EPS +5% (10 of 19 up), market-cap-weighted price −17%. 20 of 20 reported.

Quarter

Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27

Compared with

YoY QoQ

Weight is each company's share of the 20 companies' combined market cap. Contribution is the change in its owners' profit divided by their combined base profit, in percentage points, so the column adds up to the sector's earnings growth. EPS cannot be added across companies, which is why contributions use profit.

#	Company	Weight	EPS ₹, base → now	EPS growth	Contribution	Price
1	Avenue Supermarts LimitedDMART	19.9%	13.15 → 10.07	−23%	−3.2 pp	+4%
2	Eternal LtdETERNAL	17.1%	0.11 → 0.18	+64%	+1.2 pp	−18%
3	Trent LimitedTRENT	9.1%	9.62 → 7.51	−22%	−1.8 pp	−23%
4	Lenskart Solutions LimitedLENSKART	6.7%	0.76 → 1.15	+51%	+1.1 pp	+11%
5	The Indian Hotels Company LimitedINDHOTEL	6.3%	6.35 → 4.21	−34%	−4.9 pp	−23%
6	Swiggy LimitedSWIGGY	5.6%	−3.86 → −2.90	loss, smaller	+4.3 pp	−33%
7	FSN E-Commerce Ventures LimitedNYKAA	5.2%	0.22 → 0.27	+23%	+0.2 pp	−11%
8	Meesho LimitedMEESHO	4.9%	−1.09 → −0.36	loss, smaller one source	+5.2 pp	−23%
9	Info Edge (India) LimitedNAUKRI	4.9%	4.19 → 8.73	+108%	+4.8 pp	−27%
10	Vishal Mega Mart LimitedVMM	3.8%	0.67 → 0.36	−46%	−2.3 pp	−23%
11	I R C T CIRCTC	3.1%	4.93 → 4.08	−17%	−1.1 pp	−28%
12	ITC HotelsITCHOTELS	2.2%	1.18 → 1.35	+14%	+0.6 pp	−30%
13	Jubilant Foodworks LimitedJUBLFOOD	2.2%	1.07 → 1.21	+13%	+0.1 pp	−22%
14	Physicswallah LimitedPWL	1.9%	0.35 → −0.26	to loss one-off	−2.8 pp	−34%
15	Urban Company LimitedURBANCO	1.3%	−0.15 → −1.05	loss, bigger	−2.3 pp	−16%
16	EIHEIHOTEL	1.3%	3.89 → 3.80	−2%	−0.1 pp	−26%
17	Travel Food Services LimitedTRAVELFOOD	1.3%	10.08 → 9.17	−9%	−0.2 pp	+8%
18	Chalet Hotels LimitedCHALET	1.2%	5.67 → 7.44	+31%	+0.6 pp	−19%
19	Leela Palaces Hotels & Resorts LimitedTHELEELA	1.1%	4.43 → 5.14	+16%	+0.4 pp	−6%
20	Ventive Hospitality LimitedVENTIVE	1.0%	— → 11.10	sources disagree	—	−28%
	Sector earnings growth	100%			−0.2 pp

Who joined and who left

2 joined and 2 left the top 20 since Q3 FY26, as market caps moved.

Joined the top 20 since Q3 FY26 2

now #17 Travel Food Services Limited TRAVELFOOD
now #19 Leela Palaces Hotels & Resorts Limited THELEELA

Left the top 20 since Q3 FY26 2

was #18 Devyani International Limited DEVYANI
was #19 TBO Tek TBOTEK

EPS growth by company, Q2 FY24 to Q1 FY27

Each company's EPS growth quarter on quarter, every quarter it was in the top 20.

≤ −40%−20%0+20%≥ +40% Blue is growth, red is decline, grey is about zero; the colour stops deepening at ±40%.

turned profitableto loss crossed zero, so there is no growth rate to print
loss, smallerloss, bigger a loss in both quarters
sources disagree our two sources disagree, so the figure is left out of the sector totals
outside not in the sector's top 20 that quarter

EPS growth of each company in the sector's top 20, by quarter
Company	Q2 FY24	Q3 FY24	Q4 FY24	Q1 FY25	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26	Q3 FY26	Q4 FY26	Q1 FY27
DMART	−5%	+11%	−18%	+37%	−15%	+10%	−24%	+40%	−11%	+25%	−23%	+31%
ETERNAL	turned profitable	+300%	+25%	+45%	−31%	−70%	−33%	−25%	+133%	+57%	+64%	−44%
TRENT	+35%	+60%	+88%	−44%	−14%	+47%	−36%	+35%	−12%	+36%	−22%	+30%
LENSKART	outside	outside	outside	outside	outside	outside	outside	outside	outside	+29%	+51%	+11%
INDHOTEL	−25%	+169%	−8%	−40%	+123%	+5%	−10%	−43%	−4%	+217%	−34%	−40%
SWIGGY	outside	outside	outside	outside	outside	loss, bigger	loss, bigger	loss, bigger	loss, smaller	loss, smaller	loss, smaller	loss, smaller
NYKAA	+100%	+200%	−67%	+50%	+33%	+125%	−22%	+14%	+50%	+83%	+23%	+4%
MEESHO	outside	outside	outside	outside	outside	outside	outside	outside	outside	to loss	loss, smaller	loss, smaller
NAUKRI	+29%	−26%	−60%	+287%	−90%	+939%	+91%	−36%	+7%	−14%	+108%	−21%
VMM	outside	outside	outside	outside	outside	+152%	−57%	+76%	−25%	+103%	−46%	+53%
IRCTC	+27%	+2%	−5%	+8%	0%	+11%	+5%	−8%	+3%	+15%	−17%	+1%
ITCHOTELS	outside	outside	outside	outside	outside	outside	sources disagree	−43%	+1%	+62%	+14%	−37%
JUBLFOOD	+234%	−32%	+214%	−73%	+14%	−33%	+12%	+90%	+112%	−64%	+13%	+21%
PWL	outside	outside	outside	outside	outside	outside	outside	outside	outside	+40%	to loss	loss, bigger
URBANCO	outside	outside	outside	outside	outside	outside	outside	outside	to loss	loss, smaller	loss, bigger	loss, smaller
EIHOTEL	−10%	+136%	+1%	−59%	+41%	+103%	−4%	−87%	+237%	+114%	−2%	−51%
TRAVELFOOD	outside	outside	outside	outside	outside	outside	outside	outside	+4%	outside	−9%	+5%
CHALET	−59%	+94%	+17%	−31%	to loss	turned profitable	+28%	+64%	−24%	−20%	+31%	−47%
THELEELA	outside	outside	outside	outside	outside	outside	outside	outside	outside	outside	+16%	−72%
VENTIVE	outside	outside	outside	outside	outside	−4%	+477%	sources disagree	sources disagree	sources disagree	sources disagree	outside