Most of the changes have come about in the last four years and ITC is now reaping the dividends - standalone revenues from the non-cigarettes FMCG business have grown 40 per cent from FY17 to Rs 14,728.21 crore in FY21 and pre-tax profits 30 times to Rs 823.69 crore. The business accounted for 30.58 per cent of gross revenues and 4.85 per cent of pre-tax profits in FY21. "In the last four years, our margins in FMCG have gone up by 640 basis points (bps) and EBITDA margins have been moving up consistently. "We created levers that enabled a sustained growth trajectory," said ITC chairman and managing director Sanjiv Puri. Puri took charge as the chief executive officer in 2017; in 2018, he was redesignated managing director and effective May 2019, he became chairman.
The broader market performance, however, is expected to be better by virtue of good performance of state-owned banks on a low base.
ICICI Bank was the top loser along with index heavyweights RIL, ITC and HDFC.
The S&P BSE Sensex shed 119 points to close at 27,977 and the Nifty50 dropped 45 points to finish at 8,591.
Did top Indian business groups miss the e-commerce opportunity by focusing on replicating the Walmart model instead of following the Amazon model of online shopping?
In the first 4 months of CY17, Honda has sold 14% more units than Tata Motors
The BSE Mid-Cap index was currently up 0.83%. The BSE Small-Cap index was currently up 0.8%.
This pertains to certain irregularities in loan disbursements towards the development of two Slum Rehabilitation Authority projects undertaken by the company in the past.
Motilal Oswal of Motilal Oswal Financial Services tells Puneet Wadhwa why he thinks the current market levels will sustain.
Customers, instead of visiting showroms, now do most of their decision-making in the comfort of their drawing rooms using internet
It was during his tenure that Air India made its first operating profit of Rs 105 crore in FY17 since the merger of Indian Airlines and Air India in 2007.
Tax experts said that in FY17 around 80,000 people had reported incomes of over Rs 1 crore
M&M's profit before tax from the farm equipment segment rose 31% last year to Rs 2,562 cr
With the rise in interest rates, bond yields have been on the rise; this will dent banks' treasury profits. Also, many retail borrowers may find it difficult to service their loans when the loan rates rise, points out Tamal Bandyopadhyay.
Once tipped to emerge as the biggest exporter, the pharmaceutical industry is yet to acquire the scale of those in software services, says Krishna Kant.
By any economic theory or doctrine, this is no Budget that supports economic recovery, whether through supporting aggregate demand, or through expansionary stimulus, declares Rathin Roy.
Most positives seem to be factored into current valuations.
The contract has not only cemented the position of its chief executive officer (CEO) Abidali Neemuchwala, it has also proven the ability of the current management to successfully chase and close larger deals that are becoming scarcer in the market.
Since arraignment under money laundering is a tougher offence, the CBDT hopes it will also overcome its dismal score sheet to prove satisfactorily to the courts that these cases were genuine ones of tax evasion.
Reliance on a single model begins at about 40% and goes up to 80 % in case of some companies
A Goldman Sachs report said, in the past also, major crisis have led to a sharp increase in outsourcing and even offshoring particularly to India , thanks to lower wages for technology developers as compared to developed economies, and an increasing annual base of engineering graduates.
While Zee managed single-digit growth in revenue, HT Media's income dipped marginally, reports Urvi Malvania/Business Standard.
The group began to outperform the broader market only with the onset of the pandemic in March 2020 while earlier it was largely keeping pace with the Sensex. The group's market cap is up 164.4 per cent since the end of March 2020 against a 105 per cent rally in the Sensex.
In 2020-21, Indian firms offered to buy back shares worth Rs 39,295 crore, or 97% more than Rs 19,972 cr proposed in the previous financial year.
Lines up seven OFS issues along with half a dozen IPOs for the next few months
Recovery seen in Q4, companies continue to focus on enhancing cash flow
Stock crashes 6.5%; top 5 firms lose Rs 33,883 crore in market cap
The brokerage, which previously had a target of 31,000, cited global growth concerns for revision in the target.
The life insurer tinkered with its business strategy - raised the share of protection plans and reduced dependency on ULIPs in the past four years.
Overall, the populist/ electoral elements in the budget have remained measured with the finance minister being clearly aware of a higher-than-expected rise in oil prices, less-than-planned tax revenues and the wider deficit for FY 17/18, constraining his margin of maneuver, says Claude Claude Smadja.
Some of the public banks showed improvement; much more still needs to be done
Gains were led by index heavyweights with Reliance Industries contributing the most.
Out of the total potential loss, the share of state-run banks will be Rs 24,800 crore in FY18, while that of the private sector banks will be Rs 5,700 crore
In the broader market, the S&P BSE Midcap added over 1% to finish at record closing high
Analysts expect inflation to peak in the first half of 2016-17 and moderate, thereafter, on the back of positive impact of monsoons
For the near term, Gill will have to improve relations with the Reserve Bank of India, which have been strained in recent times. He will also need to strengthen the bank's asset quality and improve governance standards and internal processes.
Broader markets underperformed the benchmark indices with BSE Midcap and Smallcap indces slipping 0.8%-1.1%
Essentially, the focus will be on cracking big deals.
According to the latest annual report for 2017-18, the percentage of the company's employees in the age group of 18-25, came down to 28.16 per cent, from 31.19 per cent in the previous financial year.
Smartron is part of a new wave of IoT startups.
