Five large-cap companies with market capitalisation exceeding ₹1,00,000 crore reported exceptional profit growth in Q1 FY27, demonstrating resilience despite broader economic pressures. According to reports from The Financial Express, these companies achieved over 100% year-on-year profit growth in the June 2026 quarter, showcasing strong operational performance across diverse sectors including steel, technology, mining, and engineering. As per HSBC Mutual Fund's Venugopal Manghat, the improvement is supported by better domestic demand, resilient margins and a gradual revival in the investment cycle, though greater breadth and consistency over the next few quarters will be important to establish this as a sustained earnings recovery rather than a one-quarter improvement.
JSW Steel emerged as the standout performer in the steel sector, reporting robust financial results for Q1 FY27. As reported by The Financial Express, the company achieved net profit of ₹46.9 billion, representing a remarkable 112% year-on-year growth from ₹22.1 billion in the previous year. Revenue from operations grew 9.7% to ₹473.6 billion compared to ₹431.5 billion in Q1 FY26. The strong performance was supported by higher steel prices and improved operating efficiency, with the company expanding its Sambalpur operations capacity from 4.5 MTPA to 10 MTPA by 2030 through a joint venture with Japan's JFE Steel.
Eternal Ltd. (formerly Zomato Limited) demonstrated exceptional growth in the technology sector, with revenue surging 173.7% to ₹205.9 billion in Q1 FY27 from ₹75.2 billion in the previous year. According to The Financial Express, net profit jumped 268% to ₹0.92 billion compared to ₹0.25 billion in Q1 FY26. The company's average monthly transacting customers increased 18.77% to 27.2 million, while the adjusted EBITDA margin improved to 5.6% with absolute adjusted EBITDA of ₹6.1 billion, marking a 155% year-on-year growth.
Hindustan Zinc delivered its strongest-ever financial performance in Q1 FY27, establishing new benchmarks across key metrics. As reported by The Financial Express, the company achieved net profit of ₹54.69 billion, representing a 145% year-on-year growth from ₹22.32 billion in the previous year. Revenue from operations reached a record ₹137.47 billion, up 77% year-on-year. The strong performance was supported by the company's highest-ever first-quarter mined metal production of 268 thousand tonnes and lowest-ever quarterly zinc cost of production at US$851 per tonne. The company is progressing with its 10 MTPA tailings reprocessing plant at Rampura Agucha, expected to be completed by Q4 FY28.
Hitachi Energy India reported exceptional growth with revenue rising to ₹24.94 billion in Q1 FY27 from ₹14.79 billion in the previous year, while net profit more than doubled to ₹2.94 billion from ₹1.32 billion. According to The Financial Express, the company achieved its highest-ever order backlog of ₹322.22 billion with orders standing at ₹50.97 billion during the quarter. BHEL demonstrated a remarkable turnaround, reporting consolidated net profit of ₹3.77 billion compared to a net loss of ₹4.56 billion in the previous year. Revenue from operations grew 40.3% to ₹76.98 billion, with the power segment driving growth at 51.8% year-on-year to ₹59.20 billion.
According to HSBC Mutual Fund's Venugopal Manghat, the latest numbers point to stronger earnings momentum in mid- and small-caps, with FY27 PAT growth estimated at around 16% for Nifty 100, 20% for mid-caps and 34% for small-caps, with healthy growth expected into FY28. However, foreign portfolio investors are cautiously returning to Indian equities, but the latest buying wave is not yet strong enough to be called a durable reallocation. For a sustained FPI recovery, investors need to see earnings growth improve, the rupee remaining reasonably stable and India's relative growth advantage persist. The focus should remain on quality of earnings rather than simply headline growth, with emphasis on balance-sheet strength, cash-flow visibility and sustainable returns across market caps. As per HSBC Mutual Fund's analysis, the market has moved closer to an earnings-led phase with growth improving strongly across diverse sectors including autos, financials, metals, pharma and select consumer businesses.
