Arham Shares

📊 The Smallcap Index is trading near a major support zone, aligning with the 50% Fibonacci retracement level. RSI is in the oversold territory, indicating the possibility of short-covering and a potential relief rally. 📈🚀

3330 Rs++ 🔥🔥🔥🔥

COS DEVELOPMENT ☑️ SWIGGY LTD. 🍔🛵⚡ SWIGGY Q2 FY27 REVENUE GROWS 33.8% YoY TO ₹7,909Cr; FOOD DELIVERY ADJUSTED EBITDA HITS ₹341Cr, WHILE INSTAMART CONTINUES EXPANSION 🚀 • Overall revenue increased 33.8% YoY to ₹7,909Cr, reflecting continued growth across food delivery, quick commerce and out-of-home consumption. • Food Delivery delivered record profitability: Gross Order Value (GOV) grew 17.7% YoY to ₹10,054Cr, while adjusted EBITDA increased ₹101Cr YoY to ₹341Cr. Adjusted EBITDA margin improved to 3.4% of GOV, up 58 bps YoY. Monthly transacting users grew 15.2% to 19.8 million. • Instamart Quick Commerce continued scaling: Net Order Value (NOV) grew 31.4% YoY and 13.4% QoQ to ₹6,954Cr. The platform added 69 dark stores during the quarter, taking the total to 1,240 stores across 5.2 million sq. ft. • Quick commerce unit economics improved YoY: Contribution margin reached -1.0% of GOV, improving 157 bps YoY, although it declined 82 bps QoQ. Adjusted EBITDA margin improved marginally to -9.7%, while the segment reported an adjusted EBITDA loss of ₹895Cr. • Out-of-Home Consumption maintained profitability: GOV grew 34.9% YoY to ₹1,508Cr, with adjusted EBITDA margin at 0.5% of GOV, marking the seventh consecutive quarter of profitability. • Toing offers an additional growth opportunity: Swiggy’s affordable-meals platform operates in 50+ cities, with two out of three new users coming from outside the existing food-delivery category, potentially expanding the addressable market.

COS DEVELOPMENT ☑️ ADANI ENERGY SOLUTIONS (AESL) ⚡🔌 AESL Q2 FY27 PAT MORE THAN DOUBLES TO ₹1,364Cr; EBITDA SURGES 67% YoY TO ₹3,548Cr 🚀 • Total income increased 51% YoY to ₹10,239Cr, compared with ₹6,767Cr in Q2 FY26, supported by strong performance across transmission, smart metering and the energy solutions platform. • EBITDA surged 67% YoY to ₹3,548Cr, compared with ₹2,126Cr a year ago. Operating EBITDA increased 68% to ₹3,070Cr, reflecting broad-based operating growth. • Consolidated PAT jumped 145% YoY to ₹1,364Cr, compared with ₹557Cr in Q2 FY26, driven by stronger operating performance across business segments. • Transmission business: Revenue grew 17% YoY to ₹1,521Cr, while operating EBITDA rose 15% to ₹1,394Cr. AESL secured two new transmission projects, taking its aggregate under-construction pipeline to approximately ₹87,000Cr. • Smart metering business: AESL has completed approximately 14.82 million cumulative meter installations. Its under-implementation order book stands at 24.6 million meters, with a revenue potential of approximately ₹29,519Cr. • Energy solutions platform: Q2 operating revenue reached ₹2,197Cr, with operating EBITDA of ₹803Cr. AESL also signed a 2,500 MW round-the-clock power supply agreement with MSEDCL for 25 years, strengthening its integrated energy solutions business. • Distribution business remained steady: Adani Electricity Mumbai maintained 99.99% supply reliability, while electricity units sold in Mumbai increased 11% YoY. AESL also raised ₹3,500Cr through a QIP to support its growth and capital requirements. Key Positive: Strong earnings growth, a large transmission project pipeline, expanding smart-meter installations and the new long-term power supply contract reinforce AESL’s growth visibility.

COS DEVELOPMENT ☑️ ADANI TOTAL GAS LTD. (ATGL) 🔥⛽ ATGL Q2 FY27 REVENUE JUMPS 34% YoY TO ₹2,102Cr; EBITDA RISES 12%, BUT PAT GROWS JUST 3% ⚠️ • Revenue increased 34% YoY to ₹2,102Cr, compared with ₹1,569Cr in Q2 FY26, supported by strong volume growth across the city gas distribution business. • EBITDA grew 12% YoY to ₹340Cr, compared with ₹302Cr a year ago. However, EBITDA margin declined to approximately 16.2% from 19.2%, reflecting pressure from higher input costs. • Standalone PAT increased just 3% YoY to ₹167Cr, while PBT grew 8% to ₹235Cr. Consolidated PAT stood at ₹173Cr for Q2 FY27. • Total gas volumes increased 12% YoY to 315 MMSCM, led by CNG volumes rising 17% to 223 MMSCM. PNG volumes grew 3% to 92 MMSCM. • Gas cost increased 43% YoY, driven by elevated Brent-linked and spot gas prices, withdrawal of pooled-gas support and the ongoing West Asia crisis. APM allocation for CNG averaged around 25%, with the shortfall addressed through HPHT gas, long-term contracts and market purchases. • Infrastructure expansion continued: ATGL added 16 CNG stations during the quarter, taking the total to 723. PNG domestic connections reached approximately 11.81 lakh, with 39,574 new households added. • H1 FY27 performance was mixed: Revenue increased 31% YoY to ₹3,999Cr and EBITDA rose 3% to ₹621Cr, but PAT declined 7% to ₹300Cr, highlighting the impact of cost pressures on earnings.

COS DEVELOPMENT ☑️ HINDUSTAN PETROLEUM CORPORATION LTD. (HPCL) 🛢️⛽ HPCL Q2 FY27 REVENUE JUMPS 26% YoY TO ₹1.39 LAKH Cr; GRM SURGES TO $32.15/BBL, BUT PAT DECLINES 6% 🚀 • Revenue from operations increased 26.1% YoY to ₹1,39,140Cr, compared with ₹1,10,323Cr in Q2 FY26, reflecting higher revenue from refining and marketing operations. • Consolidated net profit declined 6.1% YoY to ₹3,625Cr, compared with ₹3,859Cr in the corresponding quarter last year. Standalone PAT also declined to ₹3,483Cr from ₹3,830Cr. • Gross Refining Margin (GRM) surged to $32.15/barrel, compared with $8.80/barrel in Q2 FY26, indicating a substantial improvement in refining economics before export cess. • Refinery throughput reached 6.20 MMT, with refineries operating at 100% of capacity overall. Mumbai Refinery operated at 109% utilisation, while Visakh Refinery operated at 95%. • Marketing sales volume increased 5.5% YoY to 12.73 MMT, while combined petrol and diesel sales grew 10% YoY to 7.78 MMT, reflecting healthy fuel demand. • H1 FY27 performance remained weak: HPCL reported a consolidated net loss of ₹8,639Cr, compared with a net profit of ₹7,970Cr in H1 FY26. This highlights the significant impact of losses incurred earlier in the half year despite the positive Q2 performance. • Strategic developments: HPCL commissioned India’s first refinery blue hydrogen unit at Visakh Refinery. Its 201-km Haldia–Panagarh LPG pipeline also reached mechanical completion and entered pre-commissioning.

OS DEVELOPMENT ☑️ SAGILITY LTD. 🏥💻 SAGILITY Q2 FY27 RESULTS: REVENUE GROWS 23% YoY TO ₹2,032Cr; EBITDA RISES 23%, PAT INCREASES 13% 🚀 • Revenue increased 22.5% YoY to ₹2,032Cr, compared with ₹1,658Cr in Q2 FY26. Sequentially, revenue grew 3.5% from ₹1,963Cr in Q1 FY27. • EBITDA increased 23.4% YoY to ₹512Cr, compared with ₹415Cr a year ago. EBITDA also grew 16.9% QoQ from ₹438Cr, indicating improved operating performance. • Net profit rose 13.1% YoY to ₹284Cr, compared with ₹251Cr in Q2 FY26. Sequentially, PAT increased 30.9% from ₹217Cr in Q1 FY27. • EBITDA margin stood at approximately 25.2%, broadly stable versus 25.0% in the year-ago quarter, while expanding from 22.3% in Q1 FY27. Key Positive: Healthy revenue growth, strong sequential EBITDA expansion and a sharp QoQ recovery in net profit indicate improving business momentum.

📢 Q2 FY27 RESULTS DUE TODAY! 📊 Here’s the list of companies scheduled to announce their results today, 23 October 2026: 🔹 Tata Motors 🔹 Infosys 🔹 IndusInd Bank 🔹 JSW Steel 🔹 Jindal Steel 🔹 Shriram Finance 🔹 Bank of India 🔹 BPCL 🔹 Adani Power 🔹 CG Power 🔹 Torrent Pharmaceuticals 🔹 Dr. Reddy’s Laboratories 🔹 Coforge 🔹 Sterlite Technologies 🔹 UTI AMC 🔹 SBI Cards 🔹 SBI Funds Management 🔹 CSB Bank 🔹 DCB Bank 🔹 Godrej Properties 🔹 Shree Cement 🔹 Supreme Petrochem 🔹 CRISIL 🔹 Newgen Software 🔹 Oracle Financial Services 🔹 Mastek 🔹 Westlife Foodworld 🔹 Atul 🔹 NESCO 🔹 Steel Strips Wheels 🔹 JK Tyre & Industries 🔹 Triveni Power Transmission 🔹 Central Mine Planning 🔹 Jupiter Life Line Hospitals 📈 Stay tuned for key numbers, earnings surprises and management commentary! 🚀

787 🚀🚀🚀🚀🚀🚀

784 🚀🚀🚀🚀 4.50% 🚀🚀🚀🔥🔥🔥🔥

Q2FY27 EARNINGS ESTIMATES- INFOSYS LTD!!

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774 🚀🚀🚀🚀🚀 3% 😍😍😍😍

COS DEVELOPMENT ☑️ BHARAT ELECTRONICS LIMITED (BEL) 🛡️📡 BEL SECURES ADDITIONAL ORDERS WORTH ₹1,011Cr; DEFENCE ORDER INFLOWS REMAIN STRONG 🚀 • BEL has secured additional orders worth ₹1,011Cr since its previous order disclosure on 13 October 2026. • Major orders include improved lightweight low-level radars, communication equipment, sonar systems, jammers, upgrades, spares and services. • The order wins reinforce BEL’s position in India’s defence electronics ecosystem, supported by demand for indigenous defence equipment and modernisation of military capabilities. • The fresh orders strengthen the company’s execution pipeline and provide incremental revenue visibility across its defence electronics product portfolio.

COS DEVELOPMENT ☑️ INDIAN HOTELS COMPANY LTD. (INDHOTEL) 🏨🌍 INDHOTEL Q2 FY27: REVENUE RISES 22% YoY TO ₹2,484Cr; EBITDA GROWS 23%, BUT PAT MISSES ESTIMATES 🚀 • Revenue increased 21.8% YoY to ₹2,484Cr, compared with ₹2,040Cr in Q2 FY26, reflecting healthy growth in the hospitality business. • EBITDA rose 22.8% YoY to ₹700Cr, compared with ₹570Cr in the corresponding quarter last year, indicating strong operating performance. • EBITDA margin improved 32 bps YoY to 28.25%, versus 27.93% in Q2 FY26, reflecting modest margin expansion. • Net profit increased 22.5% YoY to ₹349Cr, compared with ₹285Cr a year ago. However, PAT missed the analyst estimate of ₹380Cr by approximately 8.2%.

COS DEVELOPMENT ☑️ ETERNAL LTD. (ZOMATO) 🛒⚡ ETERNAL Q2 FY27: REVENUE SURGES 78% YoY TO ₹24,138Cr; EBITDA JUMPS 215%, BUT PAT MISSES ESTIMATES BY 50% 🚀 • Consolidated revenue increased 78% YoY and 19% QoQ to ₹24,138Cr, beating estimates of ₹22,425Cr by 7.6%. Adjusted revenue grew 76% YoY to ₹24,621Cr. • EBITDA surged 215% YoY to ₹752Cr, beating estimates of ₹530Cr by 41.9%. EBITDA margin expanded to 3.1% from 1.8% YoY, exceeding estimates of 2.4%. • Net profit stood at ₹125Cr, up 92% YoY and 36% QoQ, but missed estimates of ₹250Cr by 50%, making profitability the key concern despite strong operating performance. • Quick Commerce (Blinkit) remained a major growth driver: NOV surged 79% YoY to ₹20,940Cr, while adjusted revenue grew 94% to ₹19,152Cr. Adjusted EBITDA stood at ₹184Cr, improving by ₹340Cr YoY, and segment profit increased to ₹488Cr from ₹5Cr a year ago. • Food Ordering & Delivery delivered steady growth, with NOV rising 21% YoY to ₹11,445Cr and adjusted EBITDA increasing 25% to ₹627Cr. EBITDA/NOV margin stood at 5.5%. • Hyperpure continued to improve profitability: Adjusted revenue grew 13% YoY to ₹1,154Cr, while adjusted EBITDA reached ₹10Cr, improving ₹15Cr YoY. • Going-out business NOV grew 58% YoY to ₹3,259Cr, although adjusted EBITDA loss remained at ₹64Cr. Meanwhile, cash balance declined ₹1,813Cr QoQ to ₹16,475Cr. • Store expansion remains a key growth priority, with management targeting more than 3,500 stores by March 2027 and current plans indicating approximately 5,000 stores.

COS DEVELOPMENT ☑️ SRF LIMITED 🧪🏭 SRF Q2 FY27 RESULTS: REVENUE JUMPS 35% YoY TO ₹4,904Cr; PAT RISES 31% TO ₹509Cr, BUT EBITDA MARGINS CONTRACT 🚀 • Revenue from operations increased 34.7% YoY to ₹4,904Cr, compared with ₹3,640Cr in Q2 FY26, reflecting strong growth across the company’s business segments. • EBITDA grew 22.2% YoY to ₹946Cr, compared with ₹774Cr in the corresponding quarter last year. However, EBITDA margin contracted to 19.3% from 21.3%, indicating pressure on operating profitability. • Net profit surged 31.2% YoY to ₹509Cr, compared with ₹388Cr in Q2 FY26. However, sequentially, PAT declined approximately 33% QoQ from ₹759Cr in Q1 FY27. • Chemicals business revenue grew 25% YoY to ₹2,079Cr, with EBIT increasing 10% to ₹528Cr. Technical Textiles revenue rose 26% to ₹595Cr, while Performance Films & Foil revenue increased 51% to ₹2,122Cr. • Growth expansion: SRF also approved a ₹600Cr investment in a new aluminium foil manufacturing facility in Madhya Pradesh for battery applications, strengthening its exposure to the battery materials value chain. Key Positive: Strong double-digit revenue and profit growth, supported by broad-based demand across Performance Films & Foil, Technical Textiles and Chemicals.

Sell Nifty 23000 Ce 27Oct 2 Lot Buy Nifty 22900 Ce 27Oct 1 Lot Margin req. 192000 Max Profit 10900 Max Loss unlimited