Number of people with net worth of at least Rs 100 crore at 475 now.
Ripples of Indias largest corporate scam along with poor quarterly performance have made more than half of the actively traded companies on the Bombay Stock Exchange (BSE) opt not to disclose their fourth quarter un-audited results this month. Instead, they would announce only their annual audited results, before the end of June.
The slump in corporate earnings has affected interim payouts, with only 95 firms declaring interim dividends in the first nine months of this financial year compared with 144 in the corresponding period last year.
The Oct-Dec show is the worst in the last eight quarters. On sequential basis, orders have declined by a record 36 per cent.
Block deal transactions by foreign institutional investors registered a significant fall in October and November. The decline was mainly because of major deal makers cashing out of the equity market to make good their mark-to-market losses and meet redemption pressure.
Eighteen companies, collectively planning to raise Rs 9,000 crore (Rs 90 billion) through initial public offers, will benefit from the Securities and Exchange Board of India's new norms to extend the IPO validity period from three months to a year.
In upmarket areas like Bandra and Khar, the going brokerage is as high as 4 per cent
The global credit crisis has slowed order growth of Indian construction and engineering companies, indicating that several big projects, planned earlier, are being pushed back either for lack of capital, or because they have become unviable now.
On January 8, there were 252 firms as against 122 now.
India Inc's creamy layer - executive directors and above - rewarded themselves handsomely with a 36 per cent pay rise in 2007-08.
Foreign institutional investors were the major sellers on the Indian bourses in the last six months, accounting for total outflows of Rs 62,000 crore (Rs 620 billion).
More than 42 per cent of the funds mobilised through initial public offers in the last one year are idling away either in banks or debt schemes.
The Tata group companies increased their dividend payout to 28.3 per cent in the financial year ended March 2008 from 27.3 per cent a year earlier, while the corporate sector (1,121 dividend paying companies) pruned the dividend payout from 25.22 per cent to 23.04 per cent.
India Inc's order-books swelled to Rs 37,666 crore (Rs 376.66 billion) in the first quarter of the financial year 2008-2009, up 93 per cent from Rs 19,520 crore (Rs 195.2 billion) for the same period last year. In the fourth quarter of 2007-08, the order-book had increased by 121 per cent to Rs 42,545 crore
The super-rich club is shrinking at a dizzying pace. Over 100 billionaires (net worth of Rs 100 crore and above) have turned millionaires courtesy the decline in share prices over the last six months.
The payout declined to 22 per cent in 2007-08 from more than 24 per cent in each of the last four years, an analysis of the 657 companies, which announced dividends in the financial year ended March, showed. The sample is from the list of 2,000 companies, which have declared results, though only 657 companies announced dividends as of June 6.
The slowdown is showing on the balance-sheet. During the quarter ended March 2008, India Inc reported the lowest net profit growth in the last nine quarters, after the state-owned oil marketing and power companies declared poor results.
Companies post the slowest sales growth in four years, profits low, too. The last financial year has been the slowest year in four years for corporate India, according to the financial results for 1,354 companies released so far. Cumulative net sales grew by 18.2 per cent in fiscal 2007-08, in contrast to the 29.3 per cent growth in the previous financial year, 21.1 per cent in FY06 and a rapid 31.5 per cent in FY05.
A combination of value and growth helps in achieving healthy returns, yet keeping the margin of safety.
Numbers collated by the Business Standard Research Bureau show that in the last three years, leading cement manufacturers have multiplied their nine-month profits manifold and mining and paper companies have more than doubled it.
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