Blip amidst gradual economic recovery; EBITDA margins to improve in steel, cement, and IT
CRISIL Research expects India Inc. to report a revenue growth of 9-10% year-on-year (y-o-y) in the September 2014 quarter (Q2FY2015), lower than 13% growth reported in the June 2014 quarter, due to slower growth in export-oriented sectors and the continued weak performance of investment-linked sectors. This forecast is based on an analysis of 600 companies (excluding financial services and oil companies), representing 71% of the overall market capitalization of India Inc.Export-oriented sectors have been performing extremely well in the past 5 quarters, reporting strong y-o-y growth due to a slight rebound in demand in key markets and currency tailwinds. However, in Q2FY2015, the rupee appreciated by 3% against the USD on a y-o-y basis; so no gains will be reported on the currency front.
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