New Delhi, Oct 10 (NationPress) The revenue for India's publicly listed companies is projected to increase by 9 percent in Q2 FY26, with EBITDA and PAT also anticipated to rise by 9 percent, according to a report released on Friday.

This growth is driven by a solid performance in oil marketing companies (OMC), although it faces challenges from the banking, financial services, and insurance (BFSI) sectors, as outlined in the forecast by Equirus Securities for its coverage universe.

Mid-cap companies are expected to showcase robust earnings growth in the high teens, surpassing both large and small caps, while sales growth is projected to be similar across all segments, the brokerage firm noted.

Excluding the BFSI sectors, EBITDA and PAT are forecasted to increase by 16 percent and 19 percent, respectively. Without the contributions from OMCs, these figures are expected to rise by 6 percent and 5 percent, as reported.

The automotive sector showed varied trends, with overall two-wheeler wholesales rising by 10 percent year-on-year, and exports growing by 26 percent. However, retail sales for two-wheelers only increased by 1 percent during the quarter, as consumers delayed purchases in light of the GST cut announcement. Demand remained low for most of Q2 but saw a significant recovery during the Navratri festival, coinciding with the implementation of the GST reductions.

Wholesales of passenger vehicles rose by 3 percent, while exports surged by 24 percent. Medium and Heavy Commercial Vehicles (MHCV) truck wholesales are expected to grow by 6–7 percent, while Light Commercial Vehicles (LCVs) might see an increase of 13–15 percent. Original Equipment Manufacturer (OEM) margins are projected to improve sequentially, supported by the operating leverage from higher volumes.

In the tyre segment, replacement volumes are expected to grow in the high-single digits, OEM volumes in the mid-single digits, while exports are anticipated to remain moderate, as per the report.

Margins for ancillary companies are likely to improve, driven by the benefits of operating leverage, according to the brokerage firm.

Equirus Securities predicts that asset quality trends will remain stable across most corporate and retail credit segments. Improvements are expected in microfinance institutions (MFI) and credit card sectors, while a slight increase in delinquencies in the vehicle finance segment is anticipated.

Asset Management Companies' (AMCs) EBITDA is projected to grow by 3–6 percent sequentially, driven by quarterly average assets under management (QAAUM) growth, although overall earnings may decline due to reduced treasury income.