Centre likely to meet disinvestment target for FY18: FE

Proceeds from disinvestment may exceed Rs.730 bln

by Arjit Singh Bhambra

The central government, in all probability is likely to meet (if not surpass) its budgeted disinvestment target of Rs.725 billion for the financial year 2017-18, as per a report in Financial Express. The report estimates the planned sale of governments entire equity stake in oil refiner HPCL to state-run explorer ONGC to fetch Rs.340 billion. Besides, the government is expected to garner around Rs.100 billion from GICs IPO and at least another Rs.100 billion from the new diversified Bharat 22 ETF. It has announced an OFS worth Rs.210 billion in seven PSUs including IOC, NHPC and Oil India and is planning to go for around 10 IPOs including New India Assurance and HAL. It has already raised Rs.197 billion by selling its stake in various companies. This larger-than-budgeted disinvestment proceeds will provide the government headspace to sustain budgeted expenditure without straining the fiscal deficit target.

References
1. http://www.financialexpress.com/economy/narendra-modi-government-disinvestment-drive-set-to-buck-trend-see-what-is-on-cards/889590/
CMIE STATISTICS
Unemployment Rate
Per cent
4.8 +0.1
Consumer Sentiments Index
Base September-December 2015
92.2 -0.4
Consumer Expectations Index
Base September-December 2015
90.5 -0.3
Current Economic Conditions Index
Base September-December 2015
95.0 -0.5
Quarterly CapeEx Aggregates
(Rs.trillion) Dec 16 Mar 17 Jun 17 Sep 17
New projects 2.32 3.77 2.02 0.88
Completed projects 1.00 1.91 1.13 0.70
Stalled projects 1.13 0.70 2.66 0.64
Revived projects 0.18 0.67 0.29 0.14
Implementation stalled projects 0.82 0.33 0.67 0.50
Updated on: 19 Oct 2017 4:20PM
Quarterly Financials of Listed Companies
(% change) Sep 16 Dec 16 Mar 17 Jun 17
All listed Companies
 Income 2.1 6.2 10.2 10.2
 Expenses 1.9 6.3 11.9 10.5
 Net profit 14.6 40.3 16.8 -18.9
 PAT margin (%) 6.9 6.1 6.1 5.4
 Count of Cos. 4,503 4,503 4,427 4,257
Non-financial Companies
 Income 0.6 5.9 11.8 10.9
 Expenses -0.2 7.2 15.5 11.1
 Net profit 26.7 24.6 -1.1 -24.3
 PAT margin (%) 6.9 6.2 6.3 5.3
 Net fixed assets -9.2 7.5
 Current assets 8.1 2.1
 Current liabilities 11.7 8.5
 Borrowings 3.1 4.9
 Reserves & surplus 8.4 6.5
 Count of Cos. 3,476 3,482 3,432 3,324
Numbers are net of P&E
Updated on: 19 Oct 2017 4:30PM
Annual Financials of All Companies
(% change) FY13 FY14 FY15 FY16
All Companies
 Income 12.6 10.0 5.0 1.0
 Expenses 12.8 9.9 5.1 1.2
 Net profit 1.0 -2.2 1.1 -15.2
 PAT margin (%) 3.5 3.2 3.2 3.0
 Assets 14.3 12.3 9.4 8.8
 Net worth 9.6 9.6 8.8 7.7
 RONW (%) 6.8 6.2 6.1 5.3
 Count of Cos. 25,932 23,621 23,131 19,375
Non-financial Companies
 Income 11.9 9.7 4.1 0.0
 Expenses 12.3 9.3 4.3 -0.6
 Net profit -8.4 -2.4 -6.3 6.5
 PAT margin (%) 2.4 2.2 2.1 2.7
 Net fixed assets 12.9 11.6 13.1 13.9
 Net worth 7.9 8.2 7.3 7.0
 RONW (%) 5.5 5.1 4.9 5.6
 Debt / Equity (times) 1.1 1.1 1.1 1.0
 Interest cover (times) 2.1 2.0 1.9 2.0
 Net working capital cycle (days) 72 69 67 67
 Count of Cos. 20,312 18,893 18,620 15,945
Numbers are net of P&E
Updated on: 21 Sep 2017 10:15AM

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