Fitch expects budget to support sustain demand, benefit corporates

Fitch Ratings believes that higher spending, tax cuts and supportive policies announced in the Union Budget 2023-24 would support sustained demand growth and improve the longer-term prospects for a number of corporate sectors. Tax cuts would boost consumer sentiment and maintain consumption growth, while budget allocated for infrastructure and the government’s good execution record over the last few years would prove beneficial for sectors such as cement, steel and construction.

References
1. https://www.livemint.com/budget/news/indias-budget-to-sustain-demand-for-corporates-fitch-ratings-11675432209428.html
CMIE STATISTICS
Unemployment Rate (30-DAY MVG. AVG.)
Per cent
7.7 +0.8
Consumer Sentiments Index
Base September-December 2015
87.9 +0.2
Consumer Expectations Index
Base September-December 2015
88.0 +0.3
Current Economic Conditions Index
Base September-December 2015
87.8 0.0
Quarterly CapEx Aggregates
(Rs.trillion) Mar 22 Jun 22 Sep 22 Dec 22
New projects 9.01 5.29 4.50 6.84
Completed projects 1.34 1.17 1.39 1.69
Stalled projects 0.43 0.54 0.08 0.01
Revived projects 0.33 0.29 0.16 0.68
Implementation stalled projects 0.09 0.29 0.28 0.11
Updated on: 24 Mar 2023 9:28AM
Quarterly Financials of Listed Companies
(% change) Mar 22 Jun 22 Sep 22 Dec 22
All listed Companies
 Income 20.8 40.1 25.2 16.5
 Expenses 19.8 41.4 26.9 16.3
 Net profit 31.6 21.3 -1.2 6.6
 PAT margin (%) 8.8 7.2 7.6 8.4
 Count of Cos. 4,707 4,749 4,694 4,482
Non-financial Companies
 Income 24.8 50.1 27.8 14.9
 Expenses 25.7 52.9 31.2 15.5
 Net profit 10.1 8.4 -21.4 -8.9
 PAT margin (%) 7.6 5.7 5.5 6.0
 Net fixed assets 2.0 4.1
 Current assets 15.0 19.0
 Current liabilities 11.6 10.4
 Borrowings 3.6 12.4
 Reserves & surplus 11.2 6.8
 Count of Cos. 3,408 3,442 3,425 3,322
Numbers are net of P&E
Updated on: 24 Mar 2023 9:28AM
Annual Financials of All Companies
(% change) FY20 FY21 FY22
All Companies
 Income 0.6 -1.2 26.5
 Expenses 0.3 -3.5 25.4
 Net profit -2.9 74.2 63.3
 PAT margin (%) 2.1 4.5 6.8
 Assets 8.9 10.7 9.9
 Net worth 4.9 11.8 14.1
 RONW (%) 3.5 7.0 11.3
 Count of Cos. 32,238 31,091 16,811
Non-financial Companies
 Income -1.0 -2.3 30.7
 Expenses -0.8 -4.2 30.3
 Net profit -19.8 62.1 60.8
 PAT margin (%) 2.3 4.1 5.9
 Net fixed assets 11.5 2.5 2.4
 Net worth 2.2 10.4 14.6
 RONW (%) 4.8 7.7 12.4
 Debt / Equity (times) 1.1 1.0 0.8
 Interest cover (times) 1.9 2.5 3.9
 Net working capital cycle (days) 73 82 61
 Count of Cos. 25,483 24,401 13,909
Numbers are net of P&E
Updated on: 19 Mar 2023 11:50AM