- The short — today’s tells
- Calendar by day (Oct 22–24)
- Sector playcards: BFSI · FMCG · IT/Analytics · Healthcare · Industrials
- One-metric focus (cheat sheet)
The short
- BFSI: Credit costs and deposit beta will decide spreads more than headline growth.
- FMCG: Volume recovery vs promo intensity—gross margin bridges matter more than commentary.
- IT/Analytics: Large-deal TCV without ramp dates = noise; pin teams to go-live windows.
- Healthcare: US launch cadence and remediation milestones trump one-off inventory gains.
- Industrials: Order-to-revenue conversion and escalation clause usage explain margins—ask for both.
Calendar (Oct 22–24)
| Day | Mainboard / Larger | Mid/SME | Ask first |
|---|---|---|---|
| Wed, Oct 22 | REC; CRISIL; Geojit Financial Services | Sigachi; Jupiter Infomedia | REC: asset quality & borrowing cost path · CRISIL: pipeline & pricing · Geojit: active clients & take-rate |
| Thu, Oct 23 | Hindustan Unilever; Colgate-Palmolive (India); Laurus Labs | Sagar Cements; Vardhman Textiles; South India Paper Mills | HUL: volume vs price mix · Colgate: share gains & ad spends · Laurus: US pipeline & CDMO traction |
| Fri, Oct 24 | Dr. Reddy’s; SBI Cards; SBI Life; Aditya Birla Sun Life AMC; Coforge; eClerx | Supreme Petrochem; Cigniti; Latent View Analytics; Shanti Gears; MosChip | Cards: revolve share & credit costs · Life: VNB margin & persistency · IT: TCV with ramp dates |
Note Use this as a Q&A prep list; confirm exact call times with company notices.
Sector playcards
BFSI — REC, SBI Cards, SBI Life, Geojit, ABSL AMC
- Spreads: NIM bridge (repricing lag, deposit mix), LCR/NSFR comfort.
- Credit costs: Slippage buckets, write-offs, ECL overlay.
- Flows: SIP momentum (AMC), fee yields (cards/brokers).
FMCG — Hindustan Unilever, Colgate
- Volume vs price: Rural bounce and category share.
- GM bridge: RM basket, mix, pricing; ad-spend normalisation.
IT/Analytics — Coforge, eClerx, Latent View
- TCV: New vs renewal, with dates for ramps; pricing discipline.
- Margins: Onsite/offshore mix, subcontracting drag.
Healthcare — Dr. Reddy’s, Laurus
- US: Launch cadence, complex generics/biosim ramp; price erosion bands.
- India: Brand growth vs trade inventory; remediation progress.
Industrials — Vardhman, Sagar Cements, Supreme Petrochem
- Utilisation & spreads: RM pass-through; energy sensitivity.
- Conversion: Order-to-revenue rates; export traction.
One-metric focus (cheat sheet)
| Company | One metric | Why it settles the debate |
|---|---|---|
| Hindustan Unilever | Volume growth (pp) | Confirms elasticity and real demand vs promo optics |
| Colgate-Palmolive (India) | Category share (ppt) | Tracks competitive intensity & brand spend effectiveness |
| SBI Cards | Revolve share (%) | Drives NIM and credit-cost sensitivity |
| SBI Life | VNB margin (%) | Captures product-mix quality and distribution productivity |
| Coforge | Large-deal TCV with ramp dates | Separates backlog noise from revenue reality |
| Dr. Reddy’s | US launch cadence (count) | Explains margin durability vs price erosion |