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Business EYE APRIL 09, 2021 | The Indian Eye 34

signs of good times as india inc

reports 15-17% growth in revenue

Uncertainty continues to loom over consumer discretionary services such as airlines

which likely to have declined 30 per cent amid cut in travel budgets

Our Bureau cent more revenue with eco-

Mumbai nomic activity picking up, cou-
pled with a low base.
fter eight quarters of
either decline or sin-
Agle-digit growth, corpo- ambani & adani
rate revenue grew in high dou- lead the indian
ble-digits of 15-17 per cent in
the March quarter of FY21 to Billionaires club
Rs 6.9 lakh crore, partly because
of the low base and better reali- ndia has the third highest
zation due to higher commodity
prices, pushing up their operat- number of billionaires in
Ithe world after the US and
ing profits by a much higher 28- China, according to a new list
30 per cent, says a report. With by Forbes magazine, which
a visible recovery in the second said Reliance Industries Ltd
half of fiscal 2021, the overall The construction activities have given a boost to steel and cement industries chairman Mukesh Ambani re-
revenue may be a just 50 bps
lower than that of fiscal 2020, ac- struction-linked sectors like 380 bps, 230 bps and 160 bps, re- claimed his spot as Asia’s rich-
cording to pre-earnings forecast steel and cement which are es- spectively, on a sequential basis. est person, dethroning Chinese
by Crisil Ratings on Thursday. timated to have posted 45-50 Despite the pandemic, there business tycoon Jack Ma who
was the richest person in the
The estimates of 15-17 per per cent and 17-18 per cent on- was sustained growth in ex- region a year ago.
cent revenue growth to Rs 6.9 year revenue rise, respectively, port-linked sectors like IT ser- Ambani “has become the
lakh crore in Q4 of FY21 are buoyed by higher realizations vices and pharma reporting a 6 richest person in Asia, ranked
based on an analysis of 300 com- and volume. Domestic prices per cent increase in revenue.
panies, which account for 55-60 of flat steel and cement are es- However, overall revenue Number 10 and worth an esti-
per cent of the market capital- timated to have rose to 32 per growth for India Inc was con- mated $84.5 billion.
Adani Group chairman
ization (excluding financial ser- cent and 2 per cent on-year, re- strained by a fall in consumer Gautam Adani, the second
vices and oil companies) of the spectively. discretionary products and ser- richest Indian, is ranked 24th
NSE, the agency said, adding But the picture is not rosy vices which are set to see 10-12 on the global list of billionaires
operating profit jumped be 28- across verticals. A cloud of un- per cent fall. with a net worth of $50.5 billion.
30 per cent in the quarter. certainty continues to loom IT services revenue is ex-
The robust revenue growth over consumer discretionary pected to have grown a modest Cyrus Poonawalla, chair-
rides on a low base of the year- services such as airlines which 6-7 per cent, aided by robust de- man of the Poonawalla Group
and founder of the Serum Insti-
ago quarter, besides higher likely to have declined 30 per mand for digital services (44 per tute of India is ranked 169th on
government capex and higher cent amid social distancing and cent of total revenue) and rupee the Forbes list with a net worth
realizations amid a commodity cut in travel budgets. Similarly, depreciation of 2 per cent. of $12.7 billion. Poonawalla
upcycle, among others. A closer revenue for players in media Telecom services revenue is
look at the revenue breakup indi- and entertainment is also ex- expected to decline marginally ranks seventh on the list of In-
cates 50 per cent of the recovery pected to have dropped 10 per by 2 per cent, owing to remov- dian billionaires.
Founder of HCL Technolo-
is contributed by automobiles, cent due to lower ad spends and al of IUC charges, while pow- gies Shiv Nadar, the third rich-
IT services and construction. subscriptions. er generation companies are est person in India, is ranked
With a visible recovery in The most affected sectors expected to see a 4-5 per cent 71st globally and has a net
the H2 of FY21, the overall rev- due to the commodity price in- growth, led by a continued recov- worth of $23.5 billion.
enue for these 300 companies is crease will steel, cement and ery in power demand, coupled
estimated at Rs 23.8 lakh crore, pharma, which together ac- with the low base of the fourth “The three richest Indians
which is a mere 0.5 per cent low- count for 30 per cent of aggre- quarter in the previous fiscal. alone have added just over
er on-year. gate Ebitda profit, are expected Capital goods manufactur- $100 billion between them,”
Forbes said.
The growth is led by con- to see their margins contract by ers are expected to net 6-7 per

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