Corporate India is expected to witness moderation in its revenue growth to mid-to-high single digit in Q1FY27 against a 13.2% YoY growth in Q4FY26) and a contraction in its operating profit margin by 100-150 bps on a YoY basis., rating firm ICRA said on Thursday. As a result of the earnings pressure, credit metrics are expected to soften, with an estimated interest coverage ratio of 4.8-5.0 times in Q1 FY27, against 5.8 times recorded in Q4 FY26, despite stable cost of funds and leverage, it said The ongoing geopolitical tension in West Asia is likely to act as a key overhang, given its significant implications on global trade flows, logistics costs and demand sentiments in key export markets. Further, the conflict results in a second-order impact on travel and tourism-linked businesses like aviation and hotels targeting foreign tourists, LPG-dependent industries like ceramic tiles, quick service restaurants, among others.