Pankaj Tibrewal sees stronger top-line growth driving India's next earnings cycle

IKIGAI Asset's Pankaj Tibrewal is constructive on Indian markets ahead of the Q1 earnings season, expecting Nifty earnings growth of 10-13% this year led by banks, metals and cement. He believes analysts are underestimating top-line growth across Corporate India, with price hikes and healthy demand offsetting raw material cost pressures, while operating leverage cushions margins. He highlights home improvement (tiles and wood panels) and private banks as key opportunities, and expects foreign investor flows to return in the second half of the fiscal year as global AI-driven trades mature.