Overall Market Earnings Trends
The proportion of companies reporting positive results in the last four quarters has fluctuated moderately. For the Sep-2025 quarter, 43.0% of companies posted positive earnings, a slight rise compared to 40.0% in Jun-2025 but marginally below the 45.0% recorded in Mar-2025. The Dec-2024 quarter saw 41.0% positive results, indicating a relatively stable but cautious earnings environment.
Breaking down by market capitalisation, mid cap companies led with 50.0% positive results, suggesting stronger earnings momentum in this segment. Small caps followed with 42.0%, while large caps reported 39.0% positive outcomes, reflecting a more conservative earnings scenario among the largest firms.
Sectoral Highlights and Top Performers
Among large caps, Tata Steel from the Ferrous Metals sector emerged as a top performer, signalling resilience in the metals industry despite global commodity price pressures. In the mid cap space, FSN E-Commerce from the E-Retail/E-Commerce sector demonstrated robust results, underscoring the continued growth potential in digital retail platforms.
Small cap leaders included Shaily Engineering from the Plastic Products - Industrial sector, which showed encouraging financials, alongside ASM Technologies in the Computers - Software & Consulting sector. Notably, Shree Salasar, a micro cap player in the Non-Banking Financial Company (NBFC) sector, also featured among the top results, highlighting pockets of strength in financial services.
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Siemens Energy India Ltd: A Detailed Look at Sep-2025 Results
Siemens Energy India Ltd., a key player in the Heavy Electrical Equipment industry, reported its Sep-2025 quarter results with several metrics reaching new highs compared to the previous four-quarter averages. Net sales for the quarter stood at ₹2,645.70 crore, reflecting a 58.8% rise relative to the average of the preceding four quarters. This figure marks the highest quarterly net sales recorded by the company to date.
Profit before tax excluding other income (PBT less OI) was ₹441.60 crore, representing a 55.4% increase over the prior four-quarter average and also the highest level achieved in recent quarters. The profit after tax (PAT) reached ₹359.60 crore, which is the company’s peak quarterly PAT and shows a 62.3% growth compared to the previous four-quarter average.
Operating profit before depreciation and interest (PBDIT) also hit a record high of ₹479.30 crore. Earnings per share (EPS) for the quarter was ₹10.10, the highest in the company’s recent quarterly history. These figures collectively indicate a strong operational performance and effective cost management during the period.
Sectoral and Market Implications
The performance of Siemens Energy India Ltd. is indicative of a broader trend in the heavy electrical equipment sector, where demand for energy infrastructure and related services appears to be gaining traction. This is consistent with government initiatives and private sector investments aimed at modernising power generation and distribution networks.
Meanwhile, the overall market’s mixed earnings results suggest that investors should maintain a discerning approach, focusing on companies and sectors demonstrating sustainable profitability and growth potential. Mid cap companies, in particular, have shown a higher proportion of positive earnings, which may reflect their agility and growth orientation in a competitive environment.
Quarterly Earnings Season: What Investors Should Watch
With nearly 4,000 companies having declared results for the Sep-2025 quarter, the earnings season offers a comprehensive view of corporate health across sectors and market capitalisations. Investors and analysts are advised to monitor earnings quality, revenue trends, and margin stability as key indicators of future performance.
Additionally, the divergence in positive result proportions between large caps and mid caps highlights the importance of sectoral and size-based analysis. While large caps may face headwinds from global economic uncertainties and regulatory challenges, mid and small caps could benefit from domestic demand recovery and innovation-led growth.
Key Takeaways:
- 43.0% of companies reported positive earnings in Sep-2025, slightly above the previous quarter.
- Mid cap stocks led with 50.0% positive results, outperforming large caps at 39.0%.
- Siemens Energy India Ltd. posted record quarterly sales and profits, signalling strength in the heavy electrical equipment sector.
- Sectoral leaders include Tata Steel (Ferrous Metals), FSN E-Commerce (E-Retail), and Shaily Engineering (Plastic Products).
- Investors should focus on earnings quality and sector-specific dynamics amid mixed market signals.
Looking Ahead
As the earnings season unfolds further, market participants will be closely analysing upcoming results to gauge the sustainability of current trends. The interplay between domestic economic policies, global commodity cycles, and sectoral demand will continue to shape corporate earnings trajectories.
For companies like Siemens Energy India Ltd., maintaining operational momentum and capitalising on infrastructure investments will be critical. Meanwhile, the broader market’s cautious but steady earnings pattern suggests a phase of selective opportunities rather than broad-based rallies.
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