ICICI Securities maintained a constructive stance on all four companies following their June-quarter earnings review. According to reports from NDTV Profit, the brokerage retained its Buy rating on DOMS Industries, Orkla India and maintained an Add rating on United Breweries. However, the firm upgraded Inox India's target price to ₹2,010 from ₹1,660 while downgrading the rating to Add from Buy due to rich valuations after a sharp rally in the stock. The brokerage noted that these companies are likely to remain in focus after their Q1 results review. As per Moneycontrol, ICICI Securities has now recommended a Buy rating on DOMS Industries with a target price of ₹2,600 in its latest research report dated August 05, 2026, with a P/E of 47x FY28E EPS. The firm also recommended a Buy rating on Orkla India with a target price of ₹800 in its research report dated August 04, 2026, with a P/E of 30x on Mar'28E EPS.
DOMS Industries delivered robust financial results with healthy revenue growth of 19.2% YoY, driven by the back-to-school season, new product launches, and broadening channel presence. According to Moneycontrol, the company's structural growth was supported by these seasonal factors and strategic initiatives. However, margins faced pressure from global disruptions causing raw material inflation, increased employee headcount, one-off channel partner expenses, and higher depreciation. ICICI Securities believes this margin weakness is transient and should improve in coming quarters through new product launches and operating leverage from the new facility. The company maintained its FY27 revenue growth guidance of 18-20%, reflecting management's confidence in domestic demand, while capacity expansion remains on schedule with the first phase of the 50+ acre greenfield project set for commissioning by end-Q2FY27.
As reported by NDTV Profit, Inox India delivered exceptional results with record order inflows of ₹530 crore in Q1 FY27, up 28% YoY. The company's strong performance was driven by a large overseas order in the industrial gas segment that helped push the order book to an all-time high of ₹1,690 crore. ICICI Securities noted that this performance contributed to the company's record order inflows and all-time high order book levels, with the brokerage highlighting the company's strong operational metrics across the quarter.
Orkla India demonstrated a return to double-digit growth with revenue growing 10.4% YoY to ₹6.6 billion in Q1FY27, marking the end of an eight-quarter streak of single-digit growth. According to Moneycontrol, the growth was supported by broad-based momentum across spices, convenience foods, channels and geographies, though overall volume growth remained modest at 1.7%. The company showed strong traction in Modern Trade (+38.1%), digital commerce (+38.1%), and GCC (+18.1%) channels, indicating successful diversification beyond its core business. However, gross margin contracted 125 basis points due to increased spice input costs and continued investments in Kerala distribution restructuring and Project Bolt. ICICI Securities cut earnings estimates by 5%/3% for FY27/FY28 and projects revenue/EBITDA/PAT CAGRs of 9.5%/11%/11.5% over FY26-28E.
