Govt plans to list all profit making CPSEs in 2-3 years

Move aims at higher transparency and public scrutiny

by Natasha Nadkar

The government plans to list all profit making central public sector enterprises (CPSEs) on stock exchanges in a time-bound manner. A strict timeline will be fixed for such large and medium sized state-owned firms to launch their IPOs. The listing process will be completed within two to three years, as per a government official. According to the department of investment and public asset management (DIPAM) secretary Neeraj Gupta, the government aims to open up these firms for public scrutiny and higher transparency. The CPSEs to be listed will be selected based on their turnover, profitability and net worth thresholds. Only six PSUs have been listed since 2009.

References
1. http://www.livemint.com/Politics/Faga0PnqRidN2r5hjHaSTP/Govt-to-list-all-profit-making-PSUs-in-23-years.html
CMIE STATISTICS
Unemployment Rate
Per cent
5.5 -0.1
Consumer Sentiments Index
Base September-December 2015
94.4 -0.4
Consumer Expectations Index
Base September-December 2015
96.2 -0.3
Current Economic Conditions Index
Base September-December 2015
91.4 -0.5
Quarterly CapeEx Aggregates
(Rs.trillion) Mar 16 Jun 16 Sep 16 Dec 16
New projects 3.31 1.54 2.34 1.42
Completed projects 2.26 0.90 2.15 0.76
Stalled projects 1.04 1.32 0.35 0.44
Revived projects 0.63 0.42 0.51 0.17
Implementation stalled projects 0.92 0.50 0.57 0.79
Updated on: 24 Feb 2017 12:20PM
Quarterly Financials of Listed Companies
(% change) Mar 16 Jun 16 Sep 16 Dec 16
All listed Companies
 Income -0.2 -0.9 2.1 6.4
 Expenses 0.9 -0.4 1.8 6.7
 Net profit -29.1 -3.5 15.3 36.4
 PAT margin (%) 4.9 6.9 7.0 6.0
 Count of Cos. 4,397 4,354 4,314 4,228
Non-financial Companies
 Income -2.1 -2.5 0.6 6.1
 Expenses -3.9 -2.9 -0.2 7.6
 Net profit 4.8 10.3 27.5 20.5
 PAT margin (%) 6.2 7.4 7.0 6.1
 Net fixed assets 3.8 -9.2
 Current assets 3.1 8.1
 Current liabilities 10.6 11.5
 Borrowings 6.7 3.1
 Reserves & surplus 7.9 8.6
 Count of Cos. 3,456 3,426 3,394 3,337
Numbers are net of P&E
Updated on: 24 Feb 2017 12:28PM
Annual Financials of All Companies
(% change) FY13 FY14 FY15 FY16
All Companies
 Income 11.9 9.3 4.3 0.2
 Expenses 12.1 9.2 4.3 0.3
 Net profit 1.0 -4.2 2.7 -12.1
 PAT margin (%) 3.6 3.2 3.3 3.4
 Assets 14.1 12.2 8.9 7.7
 Net worth 9.5 9.4 8.2 6.2
 RONW (%) 6.8 6.0 6.1 5.7
 Count of Cos. 23,087 20,259 18,916 14,317
Non-financial Companies
 Income 11.1 8.9 3.3 -1.1
 Expenses 11.4 8.6 3.4 -1.9
 Net profit -8.9 -5.6 -3.6 14.1
 PAT margin (%) 2.4 2.1 2.2 3.1
 Net fixed assets 12.9 11.3 12.3 10.8
 Net worth 7.7 8.3 6.6 5.0
 RONW (%) 5.4 4.8 4.8 6.1
 Debt / Equity (times) 1.1 1.1 1.1 1.0
 Interest cover (times) 2.0 1.9 1.9 2.1
 Net working capital cycle (days) 71 69 68 68
 Count of Cos. 17,721 15,860 14,813 11,415
Numbers are net of P&E
Updated on: 21 Feb 2017 3:48PM

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Low government spending and low consumer expectations to keep growth subdued

Modest increase in capital expenditure; no incentive to private players

Rs.5.34 trillion or 3.2% of GDP