The fast-moving consumer goods (FMCG) sector is likely to report muted results in the fourth quarter of 2024-25 (Q4FY25) due to weakness in urban consumption. The weakness may persist through the first half of 2025-26 (H1FY26).
Maruti Suzuki on Thursday reported 6.54 per cent increase in sales at 1,18,949 units for February. The company had sold 1,11,645 units in the same month last year.
The government is likely to provide a subsidy of Rs 35,000 crore to state-owned Indian Oil Corporation Ltd (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL) to make up for losses they incurred on selling the fuel this fiscal, sources said.
Total sales of commercial vehicles were down by 5.59 per cent to 48,473 units from 51,344 units in the year-ago period, SIAM said.
The Indian pharmaceutical market (IPM) grew 6.8 per cent to touch a turnover of ~1.93 trillion in calendar year 2023, despite volumes going down marginally by 0.9 per cent. This indicates the price increase has been the major growth driver. Growth in the moving annual turnover (the previous 12 months' turnover) in December was 5.1 per cent and that in new product introduction 2.6 per cent, while volumes dipped 0.9 per cent, leading to an overall growth rate of 6.8 per cent, according to the data from market research firm Pharmatrac.
Hyundai Motor India on Saturday reported a 21 per cent increase in sales between January-November 2005 at 2,36,878 units.
The US wants India to recognise internationally accredited labs, harmonise labelling requirements and the validity period of test reports and certification with global practices, and eliminate retesting requirements.
Leading automakers Maruti Suzuki, Hyundai and Tata Motors on Friday reported robust sales for February as demand for sports utility vehicles continued to remain strong. Mahindra & Mahindra, Toyota Kirloskar Motor and Honda Cars also witnessed higher vehicle dispatches to dealers last month. February turned out to be the third-best month for sales for the industry ever.
Gross GST revenue rose 12.3 per cent to Rs 1.96 lakh crore in January on higher domestic economic activity, government data showed on Saturday. This includes 10.4 per cent growth in revenue from sale of goods and services domestically at Rs 1.47 lakh crore and 19.8 per cent rise in tax revenue from imported goods at Rs 48,382 crore.
The growth momentum that started during the festival season is likely to sustain in the new year, reports Arindam Majumder.
UltraTech Cement Ltd on Monday reported a 35.24 per cent increase in consolidated net profit at Rs 2,258.58 crore for the fourth quarter ended March 31, 2024. The leading cement maker had posted a consolidated net profit of Rs 1,670.10 crore in the January-March quarter of the last fiscal, according to a regulatory filing from UltraTech. Its revenue from operations rose 9.41 per cent to Rs 20,418.94 crore during the period under review.
Sales in the month of March was, however, down by 2.1 per cent at 70,296 units as against 71,772 units in the same month last year. During the full fiscal year, domestic sales stood at 7,11,818 units as against 6,35,629 units, a growth of 12 per cent. Exports also recorded a quantum jump of 34.9 per cent at 53,024 units as compared to 39,295 units in the previous year.
Around six weeks ago, Sun Pharmaceutical Industries, India's largest drugmaker, suffered a setback, which led to a selloff in the share. The US District Court of New Jersey granted Incyte's request for a preliminary injunction against Sun Pharma's launch of Leqselvi, a drug that treats alopecia.
During this summer, Indian travel buffs are opting for destinations that provide an escape from the ominous heat, along with coastal regions within the country and countries offering visa-free travel.
The initial public offering (IPO) lane will be busy next week, with four main-line companies, including Leela Palaces Hotels & Resorts operator Schloss Bangalore Ltd and Aegis Vopak Terminals tapping the primary market to raise over Rs 6,600 crore collectively.
Companies sold 173,420 units in Jan compared to 198,079 units in the same month a year back.
Brokerages expect a further slowdown in Indian firms' revenue and earnings growth in Q4FY25, following low single-digit growth in the preceding three quarters, as factors like weak consumer demand and credit growth linger on.
Total sales of vehicles across categories registered a fall of 7.76 per cent to 14,86,522 units in March 2013 against 16,11,525 units in the same month of 2012, it added.
US President Donald Trump on Thursday said he has asked Apple CEO Tim Cook to stop producing iPhones in India, and rather make them in the US.
Rising penetration of trade generic medicines is eating into the value growth of the domestic pharmaceutical market, showed a recent analysis. According to a Kotak Institutional Equities analysis, 70-110 basis points (bps) annual dent is expected from trade generics and Jan Aushadhi on Indian Pharma Market (IPM) growth at least until FY27-28 (see chart). Trade generic medicines are those that are not pushed into the market through doctor promotions.
Leading automakers Maruti Suzuki India, Hyundai and Tata Motors reported a double-digit increase in dispatches to dealers in April as the demand remained robust especially for the sports utility vehicles. The country's largest car maker Maruti Suzuki India (MSI) said its domestic passenger vehicle wholesales rose 13 per cent to 137,320 units last month as against 121,995 units in April 2022. Sales of mini cars, comprising Alto and S-Presso, fell 18 per cent to 14,110 units as compared with 17,137 units a year ago.
Maruti Suzuki India (MSIL) said on Thursday its operations are unaffected by the global rare earth magnet shortage, but added that the situation is "uncertain and evolving". The firm said it is exploring multiple solutions to maintain continuity in operations and will notify stakeholders in case of material impact.
Ford India and Renault too reported good sales growth in April
Global capability centres (GCCs) remained one of the major drivers of this huge spurt in demand for office spaces.
Domestic automobile retail sales rose 10 per cent in June driven by sales growth across various segments, including passenger vehicles and two-wheelers, automobile dealers body FADA said on Thursday. Total retail sales last month rose to 18,63,868 units from 17,01,105 units in the year-ago period. Passenger vehicle retail sales increased 5 per cent to 2,95,299 units as against 2,81,811 units in June 2022.
Automotive (auto) major Tata Motors posted a 51 per cent drop in consolidated net profit for the January-March quarter (Q4) of 2024-25 (FY25), to Rs 8,470 crore, due to a deferred tax asset of almost Rs 9,000 crore in the corresponding quarter of the previous financial year and an exceptional item of Rs 566 crore during the quarter. Revenue was up just 0.5 per cent year-on-year (Y-o-Y) at Rs 1.18 trillion for Q4FY25.
Maruti Suzuki, Hyundai and Mahindra failed to register significant growth.
As the election nears, political positions on prohibition are shifting.
Domestic commercial vehicle sales volume is expected to grow 9-11 per cent in FY24 driven by medium and heavy commercial vehicles and an estimated economic growth of around 6 per cent, rating agency CRISIL said on Monday. Besides, an increased allocation to infrastructure spending in the Union Budget for next fiscal year will support demand, it said. This would be the third consecutive year of growth in the domestic CV industry, according to CRISIL.
Fitch Ratings on Monday said India's steady GDP growth outlook, improved banking sector's financial health and expected interest-rate cuts in 2025 will support credit access for corporates in FY26.
Maruti sold 191 units of SX4 sedan in January 2014.
Gross GST collection in March grew 9.9 per cent to over Rs 1.96 lakh crore, government data showed on Tuesday.
Retail sales of automobiles in the domestic market saw a 7.73 per cent year-on-year decline in October this year at 21,17,596 units, mainly due to dip in two-wheeler uptake with the inauspicious period of Shraddh affecting new purchases, the Federation of Automobile Dealers Associations (FADA) said on Monday. Retail sales of automobiles in the domestic market stood at 22,95,099 units in October 2022, FADA said in a statement. Two-wheeler retail sales were at 15,07,756 units last month, as against 17,25,043 units in the year-ago period, down 12.60 per cent, as per the latest data by FADA.
Protesters across the United States and Europe have gathered outside Tesla dealerships to express their opposition to billionaire Elon Musk's involvement in the US government, Al Jazeera reported.
The demand environment is expected to improve over the next three quarters, aided by a recovery in demand from the construction sector, following release of payments to contractors after elections.
Leading FMCG companies reported a decline in margins in the September quarter on account of higher input costs and food inflation, which ultimately slowed down the pace of urban consumption. Rising prices of commodity inputs such as palm oil, coffee and cocoa were also accentuated and some FMCG firms have hinted at a price hike. HUL, Godrej Consumer Products Ltd (GCPL), Marico, ITC, and Tata Consumer Products Ltd (TCPL) have expressed concerns over squeezing urban consumption, which according to industry experts forms 65-68 per cent of FMCG total sales.
While Maruti held the top spot for four decades, the Ambassador was the best-selling car in post-Independence India for three decades.
Auto parts exports from India may see a slight slowdown as US President Donald Trump's 25 per cent tariff could increase car prices for buyers by 8-25 per cent, thereby affecting demand, experts believe.
Overall, volume growth is likely to be in the range of 3-8 per cent for two-wheelers and 5-7 per cent for passenger vehicles owing to healthy demand from urban and rural areas and pending order books.
The company had sold 51,160 vehicles in the same month last year.
