Sector analysis · India

Diversified sector earnings growth, Q2 FY24

The 6 largest Diversified companies by market cap at the end of Q2 FY24 (30 Sep 2023), compared with Q2 FY23. Only 6 NSE-listed companies fall in this sector in our data, so a single company can move its total.

The top 6 at Q2 FY24

Q2 FY24 vs Q2 FY23: combined net profit ₹337 cr (−22%), median EPS +13% (3 of 6 up), market-cap-weighted price +24%. 6 of 6 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 6 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	3M India3MINDIA	46.8%	88.65 → 118.77	+34%	+7.8 pp	+29%
2	Godrej Industries LimitedGODREJIND	25.1%	4.64 → 2.59	−44%	−15.9 pp	+30%
3	DCM ShriramDCMSHRIRAM	22.2%	8.22 → 2.07	−75%	−22.1 pp	+9%
4	Balmer Lawrie & Company LimitedBALMLAWRIE	3.4%	2.05 → 3.73	+82%	+6.6 pp	+37%
5	TTK Healthcare LimitedTTKHLTCARE	2.1%	7.02 → 11.33	+61%	+1.4 pp	+24%
6	Maheshwari Logistics LimitedMAHESHWARI	0.3%	1.55 → 1.43	−8%	−0.1 pp	+3%
	Sector earnings growth	100%			−22.2 pp

Who joined and who left

0 joined and 0 left the top 6 since the previous quarter, as market caps moved.

Joined the top 20 since the previous quarter 0

Nobody joined.

Left the top 20 since the previous quarter 0

Nobody left.

EPS growth by company, Q2 FY24 to Q1 FY27

Each company's EPS growth year on year, 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

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
3MINDIA	+34%	+10%	+31%	+26%	0%	−9%	−56%	+21%	+43%	to loss	+202%	+31%
GODREJIND	−44%	−66%	to loss	+81%	+230%	+77%	turned profitable	+8%	−16%	+9%	+142%	−19%
DCMSHRIRAM	−75%	−30%	−37%	+77%	+95%	+9%	+52%	+13%	+151%	−19%	+107%	+512%
BALMLAWRIE	+82%	+85%	+65%	+11%	−2%	−3%	+2%	+8%	−10%	+3%	+13%	+4%
TTKHLTCARE	+61%	+8%	+8%	+102%	+7%	+30%	−12%	−59%	+19%	−37%	+35%	+64%
MAHESHWARI	−8%	+9%	−6%	+15%	−6%	−8%	+139%	+20%	+1%	+42%	−40%	−24%