Govt considers delisting loss-making CPSCs

Finds it difficult to meet SEBI's public shareholding norm by August 2018

by Manasi Swamy

The government is considering to delist 3-4 loss-making central public centre enterprises (CPSCs) and exit from these through strategic sale, a senior government official informed Economic Times. According to the official, it is difficult for these companies to meet the minimum 25 per cent public float norm laid down by the SEBI by August 2018 as there is not much trading in the shares of these companies. The government currently holds 90 per cent or more stake in loss-making companies Fertilizers and Chemical Travancore (FACT) and HMT. Besides, its has already decided to exit from non-strategic, state-run companies - Dredging Corporation of India, Pawan Hans, HLL Life Care, Central Electronics and Scooters India.

References
1. https://economictimes.indiatimes.com/news/economy/finance/disinvestment-delisting-of-some-sick-cpses-likely-for-better-valuation/articleshow/62894621.cms
CMIE STATISTICS
Unemployment Rate
Per cent
4.8 -0.0
Consumer Sentiments Index
Base September-December 2015
94.7 0.0
Consumer Expectations Index
Base September-December 2015
94.8 0.0
Current Economic Conditions Index
Base September-December 2015
94.6 0.0
Quarterly CapeEx Aggregates
(Rs.trillion) Jun 17 Sep 17 Dec 17 Mar 18
New projects 2.36 1.34 1.30 2.28
Completed projects 0.87 1.21 1.05 1.26
Stalled projects 2.67 0.69 0.95 3.35
Revived projects 0.23 0.34 0.22 0.18
Implementation stalled projects 0.77 0.78 0.59 1.05
Updated on: 22 May 2018 9:20AM
Quarterly Financials of Listed Companies
(% change) Jun 17 Sep 17 Dec 17 Mar 18
All listed Companies
 Income 9.6 7.9 11.9 10.9
 Expenses 9.9 9.0 12.9 18.6
 Net profit -19.8 -18.1 -14.0 -62.8
 PAT margin (%) 5.3 5.5 4.9 3.2
 Count of Cos. 4,493 4,481 4,445 993
Non-financial Companies
 Income 10.2 8.2 13.2 12.7
 Expenses 10.5 8.1 12.4 14.0
 Net profit -25.1 -6.0 12.6 2.8
 PAT margin (%) 5.2 6.2 6.4 9.3
 Net fixed assets 9.2 18.1
 Current assets 78.6 8.6
 Current liabilities 11.0 11.1
 Borrowings 10.4 -5.7
 Reserves & surplus 5.2 9.8
 Count of Cos. 3,471 3,456 3,443 784
Numbers are net of P&E
Updated on: 22 May 2018 9:20AM
Annual Financials of All Companies
(% change) FY15 FY16 FY17 FY18
All Companies
 Income 5.6 1.8 5.5 3.6
 Expenses 5.7 1.9 5.5 2.8
 Net profit 0.0 -10.0 25.8 9.8
 PAT margin (%) 3.1 2.8 3.6 10.0
 Assets 9.5 10.1 7.1 7.1
 Net worth 8.5 11.3 6.6 5.1
 RONW (%) 5.8 4.9 6.0 15.5
 Count of Cos. 25,791 23,882 21,156 37
Non-financial Companies
 Income 4.8 0.9 5.3 3.0
 Expenses 5.0 0.3 5.6 2.0
 Net profit -8.2 19.0 20.5 10.6
 PAT margin (%) 2.0 2.4 3.0 8.7
 Net fixed assets 13.4 17.3 6.1 2.7
 Net worth 7.0 12.0 5.3 3.6
 RONW (%) 4.7 5.2 6.1 17.0
 Debt / Equity (times) 1.1 1.1 1.0 0.2
 Interest cover (times) 1.9 1.9 2.1 16.2
 Net working capital cycle (days) 66 65 62 27
 Count of Cos. 21,034 19,996 17,659 28
Numbers are net of P&E
Updated on: 20 May 2018 10:09PM

Time-series available from 2007-08 onwards