Industry cursor - June 2015 - Dun & Bradstreet India business in Rane Madras facility. n Wheels India, part of the TVS Group, which is engaged in manufacturing steel wheels, plans

Issue 82 | June 2015CONTENTS

Strictly for Private Circulation

Highlights

MACROECONOMIC UPDATE

Logistics & Supply Chain

Commercial Vehicle

Gems & Jewellery

Hi-Tech

Banking

Hospitality

IT-Hardware

Passenger Vehicle

Textile & Garment

Steel

Retail

Two and Three-Wheeler

2

4

5

7

6

8

3

9

10

11

15

14

13

12

Macroeconomic Update

Auto Components

n GDP in FY15 grew by 7.2% (6.6% in FY14), led by buoyancy in growth in the services (10.2%) and industrial sector (6.1%), while the agricultural sector declined by 0.23% compared to a growth of 3.66% in FY14.

n During FY15, Private Final Consumption Expenditure and Gross Fixed Capital Formation grew by 6.3% (6.2% in FY14) and 4.6% (3.0% in FY14), respectively. Growth in Government Final Consumption Expenditure moderated to 6.6% (8.2% in FY14) in FY15.

n Index of Industrial Production grew at 4.1% (y-o-y) in Apr-15, led by 5.1% growth in the manufacturing sector. However, the electricity sector declined by 0.5%.

n The WPI inflation continued to decline for six months in a row to 2.4% in May 15 (although the pace has reduced), largely driven by decline in inflation in the fuel segment.

n Manufactured products inflation continued to decline for three consecutive months, recording an all-time low of 0.6% (y-o-y) in May 15.

n Inflation in food articles continued to moderate since Feb-15, registering a growth of 3.8% in May-15.

n Current account deficit narrowed to US$ 27.5 billion (1.3% of GDP) in FY15 as compared to US$ 32.4 billion (1.7% of GDP) in FY14 due to reduced trade deficit and an increase in net invisible earnings, along with an increase in net financial flows to US$ 89.5 billion (US$ 48.7 billion in FY14).

Healthcare & Pharmaceutical

E: D&B estimateSource: CSO

IIP and core infrastructure: Growth (%)GDP: Growth (%)

Source: Ministry of Commerce & Industry, CSO

Macroeconomic triad (estimate)

Note: Exchange rate: INR/US$ at month endInterest rate refers to year-end WPIInterest rate corresponds to yield on T-Bills 15-91 daysSource: Ministry of Commerce and Industry

June-15

India's exports & imports (US$ bn)

Inflation(-)2.0%-(-)1.8%

Interest rate7.5%-7.7%

Exchange rate64.00-64.20

cursorIndustry

Exports Imports

Eight core industries IIPAgriculture Industry Service GDP at factor cost

-4.0

-2.0

0.0

2.0

4.0

6.0

8.0

Apr-

14

May-

14

Jun-1

4

Jul-14

Aug-1

4

Sep-1

4

Oct

-14

Nov-

14

Dec-

14

Jan-1

5

Feb-1

5

Mar-

15

Apr-

15

25.0

30.0

35.0

40.0

45.0

50.0

15.0

20.0

25.0

30.0

35.0

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14

May-1

4

Jun-1

4

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Aug-1

4

Sep-1

4

Oct

-14

Nov-1

4

Dec-1

4

Jan-1

5

Feb-1

5

Mar-

15

Apr-

15

-4

-2

0

2

4

6

8

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14

Q4 FY14 Q1 FY15 Q2 FY15 Q3 FY15 Q4 FY15 Q1 FY16 E

AUTO COMPONENTS INDUSTRY

n Automotive technology company Continental acquired 100% stake in Emitec Emission Control Technologies. Emitec was a 50:50 joint venture between Continental and GKN. With this acquisition, Emitec has been integrated into Continental's Powertrain Division, merging with Business Unit Fuel Supply to form a new Business unit Fuel & Exhaust Management.

n Steel Strips Wheels made a foray into the North American market by bagging an order worth ` 29 crore to supply 1.75 lakh wheels to Canada's passenger car aftermarket.

n Auto components manufacturer Nipman Fastener Industries entered into a technical tie-up with South Korea's IL-Ryung Co to manufacture steering components and sub-assemblies at an investment of about US$ 35 million.

n TVS Tyres announced its plans to invest ̀ 1.5 billion for capacity addition in its two plants in Tamil Nadu and Uttarakhand, with an aim to add 30 lakh units per month to its production line by end-2015.

n Tata AutoComp GY Batteries, a joint venture between Tata AutoComp Systems and GS YUASA International of Japan, inaugurated a manufacturing facility for valve regulated lead-acid batteries, at Ranjangaon near Pune.

n Nipman Fasteners Industries entered into a technical tie-up with South Korea's IL-Ryung Co to manufacture steering components and sub-assemblies at an investment of about US$ 35 million. Nipman makes standard and specialised fasteners, studs and other cold forged components for engines, while IL-Ryung supplies components and sub-assemblies for four wheelers.

n Chennai-based Rane Group plans to invest around ` 2.2 billion to expand capacity during 2015-16, that would mainly go into expanding capacity at its Haryana plant for manufacturing electric power steerings, and the hydraulics business in Rane Madras facility.

n Wheels India, part of the TVS Group, which is engaged in manufacturing steel wheels, plans to invest around ` 0.7 billion during 2015-16 towards capital expenditure.

Steel prices (Mumbai) (`/tonne)

Rubber prices* (Kottayam)(`/quintal)

*Rss-4 CMIESource for all above charts:

Highlights

HR coils 2.00 mm CR coils 0.63 mm

Auto Components: Key financial indicators

Note: Operating profit: PBDIT net of prior period and extra-ordinary items (P&E) & Other income; Net profit: PAT net of P&ESource: CMIE

Global News

n Continental AG of Germany acquired Germany-based Elektrobit Oyj's automotive division for Euros 600 million with an aim to broaden its product range, as demand for electronic components and software in cars increases.

n German auto component major ZF Friedrichshafen AG entered the industrial gear market and further strengthened its position in wind turbine segment with the acquisition of Bosch Rexroth's large gearbox business.

38000

40000

42000

44000

46000

48000

50000

52000

54000

May-

14

Jun-1

4

Jul-14

Aug-1

4

Sep-1

4

Oct

-14

Nov-

14

Dec-

14

Jan-1

5

Feb-1

5

Mar-

15

Apr-

15

May-

15

11000

13000

15000

17000

19000

May-

14

Jun-1

4

Jul-14

Aug-1

4

Sep-1

4

Oct

-14

Nov-

14

Dec-

14

Jan-1

5

Feb-1

5

Mar-

15

Apr-

15

May-

15

Parameters Units Q4FY14 Q1FY15 Q2FY15 Q3FY15 Q4FY15

Net sales ` bn 301.8 303.7 311.7 302.3 295.2

y-o-y growth % 6.7 7.2 12.3 6.7 -2.2

Operating profit ` bn 37.6 40.8 42.0 39.9 42.8

y-o-y growth % 6.6 16.0 18.5 11.8 13.7

Net profit ` bn 15.6 16.0 17.5 14.7 19.7

y-o-y growth % 4.1 14.2 21.9 9.2 26.9

Operating profit margin % 12.5 13.4 13.5 13.2 14.5

Net profit margin % 5.1 5.2 5.5 4.8 6.6

Deposits, credit and growth rates

Note: Call rates for Jun-15 are up to Jun 03, 2015Source for all above charts: RBI

Movement in call money rates (%)

BANKING INDUSTRY

Note: Data for May-15 is as on May 29, 2015

n The Reserve Bank of India (RBI) cut its key lending rate - the repo rate - by 0.25 percentage points to 7.25%. State Bank of India lowered its base rate by 15 basis points to 9.70% soon after the RBI monetary policy.

n The RBI issued new norms for Strategic Debt Conversion (SDR) which will give lenders the right to convert their outstanding loans into a majority equity stake if the borrower fails to meet conditions stipulated under the restructuring package. The RBI has allowed banks to acquire 51% or more stake in companies, where debt restructuring has failed to revive them within a stipulated timeframe.

n The RBI extended by a year the benefit which allowed banks to spread over two years the loss incurred through sale of bad loans to asset reconstruction companies.

n The RBI announced two measures that would enable higher remittances and also ease the process of raising funds through external commercial borrowings (ECB). The limit on trade-linked remittances has been trebled to ` 15 lakh from the earlier ` 5 lakh, and banks can now regularise payments exceeding the limit if they are satisfied with the bonafide of the transaction. The RBI has also allowed overseas banks to enter into swaps with other overseas banks besides domestic banks to facilitate disbursals of rupee loans by overseas lenders.

n Bank unions and the Indian Banks' Association (IBA) formally signed an agreement to increase bank employees' salary and allowances by 15%. The wage settlement also includes a medical insurance scheme for the families of employees.

n Kotak Mahindra Bank inked a pact with ING Bank for exploring opportunities arising from cross-border business, investments and trade flows across various geographies, including Europe. The MoU covers an array of co-operation in areas such as trade, finance, remittances and services related to NRIs, funding to counter-parties' corporate relationships, fee-based products, direct banking and digital strategy, and cross-border debt capital markets and M&A.

n IDBI Bank is set to expand its branch network to 2,000 by the end of the current year from 1,740 currently, besides rolling out e-huts to provide services to people in rural areas. The bank has introduced e-lobbies, which are next to branches, across the country.

n SBI entered into an agreement with Snapdeal to finance manufacturers and sellers from the small and medium enterprises (SMEs). The bank also inked an MoU with PayPal to facilitate cross-border transactions and domestic payments.

n The Cabinet cleared an Ordinance to ensure that people facing cheque bounces can file cases at the place where the cheque was presented for clearance, rather than the place of issue. The ordinance will effect this change by amending the Negotiable Instruments Act.

%` bn

Highlights

Deposits (LHS) Credit (LHS)

y-o-y growth rates of deposits (RHS)

y-o-y growth rates of credit (RHS)

Call money rate- High (%)

Call money rate- Low (%)

Banking: Key financial indicators

Note: Net profit is PAT net of prior period and extraordinary itemsSource: CMIE

0

2

4

6

8

10

12

14

16

0

10,000

20,000

30,000

40,000

50,000

60,000

70,000

80,000

90,000

100,000

May-

14

Jun-1

4

Jul-14

Aug-1

4

Sep-1

4

Oct

-14

Nov-

14

Dec-

14

Jan-1

5

Feb-1

5

Mar-

15

Apr-

15

May-

15

0

5

10

15

20

25

30

Jun-1

4

Jul-14

Aug-1

4

Sep-1

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Oct

-14

Nov-

14

Dec-

14

Jan-1

5

Feb-1

5

Mar-

15

Apr-

15

May-

15

Jun-1

5


Net sales ` bn 2,105.2 2,145.6 2,191.0 2,229.4 2,241.7

y-o-y growth % 14.0 12.6 10.6 8.8 6.5

Net profit ` bn 184.2 208.9 178.4 171.4 171.2

y-o-y growth % -2.1 2.1 32.5 14.4 -7.1


COMMERCIAL VEHICLE INDUSTRY

n With an aim to offer its customers a comprehensive range of options to choose from, meeting specific needs and requirements of different businesses, Isuzu Motors India introduced two new variants of its pick-up truck D-MAX range, priced at ̀ 5.99 lakh and ̀ 6.48 lakh.

n German auto major Daimler recently inaugurated its new bus manufacturing facility at Oragadam, near Chennai, which has a capacity of 1,500 units. The company has invested ̀ 4.25 billion in the new facility which will manufacture and assemble buses under two brands - Mercedes-Benz and BharatBenz.

n Eicher launched the next generation heavy duty trucks Pro 6000 series at Salem, Tamil Nadu. The Pro 6000 series range includes Pro 6031, Pro 6025 – haulage trucks and Pro 6025T tipper which are built to address the needs of various segments across haulage, distribution, construction, industrial loads, courier and perishables.

n Ashok Leyland plans to invest around ` three billion during 2015-16. The company also plans to set up bus assembly plants in Africa, West Asia and one in India which would attract investment of around ̀ 0.2 billion each.

n Tata Motors intends to expand its commercial vehicle business in South India by adding 15 showrooms and 70 semi-mobile workshops. The company presently having 34 dealers in Andhra Pradesh, Tamil Nadu, Karnataka and Kerala is focusing on expanding network in smaller towns.

n Tata Motors launched its Prima range of heavy commercial vehicles in Bangladesh. The company, in partnership with Bangladesh-based Nitol Motors rolled out models under the Prima brand catering to tipper and cargo segments.

n Isuzu's manufacturing plant which is being built at a cost of ` 30 billion in Chitoor district (Andhra Pradesh) is expected to start commercial operations by April 2016. The company plans to double its sales this year from 1,300 vehicles in 2014-15 and aims to sell 10,000 units in 2016-17, after its plant commences commercial production. The company which presently has 21 dealership outlets in India, plans to have 60 outlets by 2015-16.

Highlights

Commercial Vehicle Sales (Nos.)

Source: CMIE

Commercial vehicles: Key financial indicators

N.A.: Not applicable (Losses incurred)Note: Operating profit: PBDIT net of prior period and extraordinary items (P&E) and other income; Net profit: PAT net of P&ESource: CMIE

M&HCV: Domestic sales (Nos.)

Source for all above charts: CMIE

LCV: Domestic sales (Nos.)

Segments May-14 May-15 y-o-y growth (%) Apr-May FY15 Apr-May FY16 y-o-y growth (%)

M&HCV 16,572 20,615 24.4 32,001 39,892 24.7

LCV 30,414 28,226 -7.2 58,065 54,821 -5.6

Total domestic sales

46,986 48,841 3.95 90,066 94,713 5.2

Exports 6,343 8,403 32.5 12,090 15,292 26.5

Total sales 53,329 57,244 7.3 102,156 110,005 7.7

10,000

15,000

20,000

25,000

30,000

May

-14

Jun

-14

Jul-

14

Au

g-1

4

Sep

-14

Oct

-14

No

v-14

Dec

-14

Jan

-15

Feb

-15

Mar

-15

Ap

r-15

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-15

20,000

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30,000

35,000

40,000

May

-14

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-14

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No

v-14

Dec

-14

Jan

-15

Feb

-15

Mar

-15

Ap

r-15

May

-15


Net sales ` bn 124.1 110.7 128.0 131.5 163.1

y-o-y growth % -20.4 -9.7 5.8 26.7 31.4

Operating profit ` bn -4.8 -1.3 -0.1 -8.3 5.9

y-o-y growth % N.A. N.A. N.A. N.A. N.A.

Net profit ` bn -11.7 3.7 -18.0 -20.8 -8.5

y-o-y growth % N.A. -35.5 N.A. N.A. N.A.

Operating profit margin % -3.9 -1.2 -0.1 -6.3 3.6

Net profit margin % -9.1 2.9 -13.9 -15.8 -5.2

GEMS AND JEWELLERY INDUSTRY

Gold prices in Mumbai market

Gems & Jewellery exports(` bn)


Gems & Jewellery imports(` bn)

Price (LHS) Change (RHS)

n According to the World Gold Council, global demand for jewellery increased by 3% to 601 tonnes, while investment demand for gold rose by 4% to 279 tonnes for the quarter ending March 2015. India and China accounted for 54% of the total global gold consumer demand in the first quarter. The demand for jewellery in India increased by 22% to 151 tonnes.

n Rajesh Exports bagged an export order worth ` 13.02 billion from M/s Al Jameelat Jewellery, a UAE-based company for gold and diamond studded jewellery and medallions.

n Kalyan Jewellers plans to invest ` eight billion this fiscal to open 22 showrooms in India and West Asia, of which nine will be in the Gulf region. The company also plans to enhance its distribution network by 30% this financial year.

n Kalyan Jewellers entered into eastern India by opening its first showroom in in Bhubaneswar, Odisha. The company invested ` 600 million in the new store that will offer over two lakh contemporary and traditional gold and diamond designs.

n Mumbai-based Silver Emporium plans to launch a new handmade silver jewellery line and open three new showrooms in Chennai, Mumbai and Jaipur.

n Kirtilals launched a mobile Solitaire Lab with an investment of ` seven million, aimed at providing customers with information regarding the certification, quality and true value of the diamond which will allow them to take informed decisions while choosing the right diamond.

n Pune-based PN Gadgil Jewellers decided to set up 'Try-on kiosks' in its 19 stores. The kiosks are computer-like screens which will enhance customer experience by allowing them to create their own profiles, signing-in and trying different designs of jewellery virtually. It can be accessed from anywhere using the Internet and customers can capture high resolution images and make product comparisons before finalising on a product. Two such kiosks are already set up in their Pune showrooms.

Highlights

Gems & Jewellery: Key financial indicators

N.A.: Not applicable (losses incurred)Note: Operating profit: PBDIT net of prior period and extraordinary items (P&E) & other income; Net profit: PAT net of P&ESource: CMIE


Net sales ` bn 237.4 177.3 210.2 213.8 123.1

y-o-y growth % -26.4 -24.6 -1.7 16.7 -48.1


y-o-y growth % -21.8 -10.6 263.6 6.1 -12.3

Net profit ` bn -1.1 1.2 3.0 -2.8 4.3

y-o-y growth % N.A. -74.6 N.A. N.A. N.A.


Net profit margin % -0.5 0.7 1.4 -1.3 3.3

`/10 gm %

-20.0

-15.0

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HEALTHCARE & PHARMACEUTICAL INDUSTRY

n The Government of India exempted several drugs used in the treatment of AIDS along with diagnostics and equipment from customs duty in order to make the medicines cheaper. The exemption, to be effective till March 31, 2016, will benefit Anti-Retroviral Drugs- Adult First Line, Adult Second Line and Paediatric Drugs.

n Strides Arcolab Ltd entered into an agreement to buy a generic drugs business in Australia from South Africa's Aspen Pharmacare Holdings Ltd for about US$ 299.9 million.

n Cipla (EU), a wholly-owned subsidiary of Cipla entered into a definitive agreement to acquire a 51% stake in Uganda's Quality Chemicals Ltd.

n Cipla's JV firm, Stempeutics Research received process patent from the Japan Patent Office for novel stem cell drug Stempeucel aimed at treatment of critical limb ischemia.

n Suven Life Sciences received one patent each by Mexico and Singapore for a drug used in the treatment of neuro-degenerative diseases.

n Sun Pharmaceutical and AstraZeneca Pharma entered into a distribution services agreement to distribute AstraZeneca's heart disease treatment drug 'Axcer' in India.

n AstraZeneca Pharma India and Dr Reddy's Laboratories entered into a distribution agreement for two drugs namely Riax and Riax-M used for the treatment of diabetes in India.

n Oculus Innovative Sciences Inc, a US-based biopharmaceutical company tied up with India's Genetix Biotech to expand its footprint in the country.

n Sun Pharma Advanced Research Company licensed out Xelpros, a preservative-free eye drop to a subsidiary of Sun Pharma for the US market.

n Glenmark Pharmaceuticals received final USFDA approval for the generic Calcipotriene cream used for the treatment of plaque psoriasis.

n Wockhardt recalled two drugs, namely Captropil and Calrithromycin tablets in the US.

n Cipla received USFDA approval for Lopinavir and Ritonavir oral pellets used for treating AIDS in infants and young children.

n Aurobindo Pharma received USFDA approval to manufacture and market Metronidazole tablets used to treat various kinds of infections, in the US market.

n Glenmark Pharmaceuticals received USFDA approval for its generic version of desmopressin acetate tablets used in the treatment of diabetes and bed-wetting.

Trend in Drugs and Pharmaceuticals export

Trend in Drugs and Pharmaceuticals import

Highlights


Value (LHS) Change (RHS)

Value (LHS) Change (RHS)

%

Drugs & Pharmaceuticals: Key financial indicators

N.A.: Not applicable (Losses incurred)Note: Operating profit: PBDIT net of prior period and extraordinary items (P&E) and other income; Net profit: PAT net of P&ESource: CMIE

` bn

` bn %

-10

-5

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Net sales ` bn 283.9 298.2 288.5 289.7 307.0

y-o-y growth % 13.6 17.6 4.7 4.1 8.1


y-o-y growth % 26.8 96.1 7.5 -66.9 1.8

Net profit ` bn 34.6 70.8 34.4 -24.8 24.5

y-o-y growth % 78.8 328.9 24.8 N.A. -29.1


Net profit margin % 11.4 21.0 11.3 -8.3 7.7

HI-TECH INDUSTRY

Civil aviation: Cargo statistics(freight tonne km and mail tonne km in mn)

Civil aviation: Load factor (%)

n Chinese appliances maker Haier signed a memorandum of understanding with the Maharashtra Government to invest ̀ 3.70 billion in its Pune plant to scale up operations. The investment will be used to expand manufacturing capacity of refrigerators, besides adding new products such as washing machines, air-conditioners, LED television panels, water heaters and deep freezers, to the production line.

n Anchor Electricals, part of Japan's Panasonic Corp, plans to invest ̀ 1.5 billion during this fiscal year as part of its investment plan of ` four billion in three years towards capacity expansion and new product launches. The company is eyeing an over two-fold jump in revenues to become a ̀ 50 billion company in the next five years through capacity ramp-up.

n Air India has sealed a codeshare alliance with Air New Zealand and Avianca. Under the codeshare agreement with Air New Zealand, Air India will place its code on Air New Zealand's services from Melbourne, Sydney, Hong Kong and Singapore to destinations in New Zealand.

n The Odisha Government announced that it will exempt from VAT, aviation turbine fuel for international flights, in a bid to attract foreign airlines to begin commercial operations in the state.

n Etihad Airways invested nearly ̀ 20 billion in Jet Airways, aimed at cornering a large share of the 40 million Indians travelling abroad every year.

n SpiceJet plans to induct European aviation major Airbus aircraft in its fleet. SpiceJet plans to replace two of its Boeing 737s with Airbus A320 planes.

n Maritime Energy Heli Air Services Pvt Ltd (MEHAIR) plans to launch its regional air connectivity between Pune and Nashik. Flights between these two centres - Lohagaon in Pune and HAL Airport in Nashik are likely to reduce the travel time of people from up to seven hours down to barely 50 minutes.


Highlights

Passenger load factor Weight load factor

Freight tonne km (LHS) Mail tonne km (RHS)

Civil aviation: Airport traffic statistics (March 2015)

Source: CMIE

Parameters

Aircraft traffic Passenger traffic Cargo traffic

Nos.y-o-y

growth (%)Nos.

y-o-y growth (%)

Tonnesy-o-y

growth (%)

Domestic traffic 110,075 4.2 12,411,300 18.4 81,300 7.4

International traffic 29,991 2.8 4,419,100 7.8 139,200 2.0

Total airport traffic 140,066 3.9 16,830,400 15.4 220,500 3.9

Consumer Electronics: Key financial indicators

N.A.: Not available (Losses incuured)Note: Operating profit: PBDIT net of prior period and extraordinary items (P&E) and other income; Net profit: PAT net of P&ESource: CMIE


Net sales ` mn 37,599.0 38,462.8 38,446.9 37,221.7 37,008.2

y-o-y growth % 1.5 2.2 0.1 -4.6 -1.6

Operating profit ` mn 5,665.7 5,861.5 5,841.6 5,835.2 5,797.6

y-o-y growth % 40.3 12.4 4.7 5.1 2.3

Net profit ` mn -1,011.6 7.4 -84.5 23.5 50.9



Net profit margin % -2.6 0.02 -0.2 0.1 0.1

0.0

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14

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-15

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-15

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Apr-

15

HOSPITALITY INDUSTRY

Foreign tourist arrivals in India('000 nos.)

Foreign exchange earnings

Growth in foreign tourist arrivals (%)

Source of all above charts: CMIE

n Little Italy Group Express Foods Pvt Ltd opened its first Little Italy restaurant in Ahmedabad, offering pure vegetarian Italian food. It already has an outlet in Vadodara and also plans to open new ones in cities like Surat, Anand and Rajkot.

n Fast-food chain Subway, which runs over 500 franchise stores in India, plans to increase the number of local outlets to 2,000 in the next five years.

n Quick service restaurant chain McDonald's, run by Hardcastle Restaurants Pvt Ltd, which presently has a network of over 200 restaurants in South and West India plans a 100% expansion over the next 5 years.

n Beer chain The Beer Café, which currently operates in Punjab, Delhi, Gurgaon, Pune and Mumbai, plans to add 16 outlets in India to add to its tally of 22. It also plans to expand globally by opening its first two outlets in Singapore during this fiscal year.

n Dunkin' Donuts, the doughnuts, baked goods & coffee chain, launched its thfirst restaurant in Chennai. The new restaurant marks the launch of the 57

Dunkin' Donuts restaurant with a presence across 20 cities in India.

n Bengaluru-based Royal Orchid Hotels, which currently operates 28 hotels, plans to expand its network through management contracts to around 50 hotels in two years. The company is looking at expanding its network in the north and west in cities such as Amritsar, Dehradun, Gurgaon, Jaipur, Haridwar, Mumbai and New Delhi, and also in African countries like Kenya.

n InterContinental Hotels Group signed a management pact with Adyar Gate Hotels recently for InterContinental Chennai Mahabalipuram Resort, which will join InterContinental Marine Drive as the second hotel under its luxury brand in India.

n Budget hotel chain OYO Rooms plans to expand its network by five-fold to 2,000 hotels in 45 cities by the end of this year. It presently has 4,500 rooms in 400 hotels across the country.

n Mid-market hotel brand Keys Hotels & Resorts announced the launch of its thhotel in Kochi, its second property in Kerala and 16 hotel in India.

n Global hospitality major Carlson Rezidor Hotel Group plans to open seven hotels under its mid-scale brand 'Park Inn by Radisson' by the end of 2017 in India. The hotels are planned to be opened in cities such as Gurgaon, Bhiwadi, Jammu, Mohali, Phagwara and Amritsar.

n Mexican-style quick service restaurant chain Taco Bell recently announced its expansion into New Delhi through a tie-up with Burman Hospitality Pvt Limited, its first franchisee partner in India. Taco Bell along with Burman Hospitality plans to take the store count to 25 restaurants in the next 18-24 months and would set up stores in Punjab, Chandigarh and Uttarakhand, besides Delhi.

Highlights

Foreign exchange earnings (LHS)

Growth (RHS)

` bn %

2012 2013 2014 2015

0

100

200

300

400

500

600

700

800

900

May-

14

Jun-1

4

Jul-14

Aug-1

4

Sep-1

4

Oct

-14

Nov-

14

Dec-

14

Jan-1

5

Feb-1

5

Mar-

15

Apr-

15

May-

15

-5

0

5

10

15

20

25

20

30

40

50

60

70

80

90

100

110

120

130

140

May-

14

Jun-1

4

Jul-14

Aug-1

4

Sep-1

4

Oct

-14

Nov-

14

Dec-

14

Jan-1

5

Feb-1

5

Mar-

15

Apr-

15

May-

15

-5.0

0.0

5.0

10.0

15.0

20.0

25.0

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Hospitality: Key financial indicators

N.A.: Not applicable (Losses incurred)Note: Net profit is PAT net of prior period and extraordinary itemsSource: CMIE


Net sales ` bn 24.2 18.5 18.9 24.6 24.8

y-o-y growth % 5.3 2.7 6.3 4.7 2.7

Net profit ` bn 1.3 -1.9 -2.4 0.3 3.9

y-o-y growth % 67.6 N.A. N.A. N.A. 202.7

Net profit margin % 5.2 -10.1 -12.3 1.4 14.2

Domestic computer hardware& peripheral production (` bn)

IT HARDWARE INDUSTRY

n Ricoh India, the Indian subsidiary of Tokyo-based Ricoh Group, which is looking at trebling its revenues by 2017, plans to expand its partner base from 3,000 to 5,000 across the country. The company is also evaluating plans to set up a manufacturing plant in India.

n Taiwan-based networking equipment manufacturer D-Link plans to invest ` 3.5 billion to set up a research and development facility and network training institute in Telangana. The company has signed an MoU with the Telangana Government to bolster the local IT industry.

n Personal computer manufacturer Lenovo launched new and premium Yoga series of laptop and convertibles. While the Yoga 300 and Yoga 500 are priced at ` 30,490 and ` 57,990, the Yoga 314 and Yoga3 Pro are priced at ` 86,990 and ̀ 114,990, respectively.

n PC manufacturer Dell India is looking at expanding its presence in smaller cities and towns to offset the slowdown in sales from urban centres. The company plans to increase the number of exclusive stores from 480 to 825 and expand its distribution to 1,200 towns and cities from the current 1,000. In order to meet the increasing demand for personal computers, Dell plans to expand capacity at its manufacturing plant in Sriperumbudur near Chennai.

Source: CMIE

Highlights

IT-Hardware: Key financial indicators

N.A.: Not applicable (Losses incurred)Note: Operating profit: PBDIT net of prior period and extraordinary items (P&E) & Other income; Net profit: PAT net of P&ESource: CMIE

3.0

1.5 1.6 1.51.4

1.5

1.9

1.21.3

2.1

1.3 1.3

2.0

0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

Mar-

14

Apr-

14

May-

14

Jun-1

4

Jul-14

Aug-1

4

Sep-1

4

Oct

-14

Nov-

14

Dec-

14

Jan-1

5

Feb-1

5

Mar-

15


Net sales ` mn 4619.7 4036.6 3897.5 3393.3 3367.3

y-o-y growth % -2.1 -18.5 -17.2 -34.8 -27.1

Operating profit ` mn -498.6 -437.1 -656.6 -747 116.5


Net profit ` mn -1489.8 -1354.5 -1554.2 -1750.3 -984.3


Operating profit margin % -10.8 -10.8 -16.9 -22.0 3.5

Net profit margin % -31.2 -32.2 -38.1 -49.0 -26.9

LOGISTICS & SUPPLY CHAIN INDUSTRY

n TVS Logistics Services Ltd (TVSL), part of the TVS Group and a transportation and material handling company, announced that it will acquire Tata Group firm Drive India Enterprise Solutions Ltd, a warehousing firm. The deal is expected to help TVSL in reaching its aim of diversifying into sectors such as beverages, information technology, healthcare, telecom and defence.

n Assetz Property Group, a Singapore-headquartered realty firm, plans to diversify into logistics and warehousing, and aims to raise around $ 0.1 billion from institutional investors to acquire land as the company seeks to tap into the e-commerce boom and meet its own warehousing needs. It also tied up with Imergy Power Systems, a company that provides energy storage solutions, as its partner for its off-grid warehouse renewable energy system initiative that will be used at its industrial warehouses.

n Considering the growing export-import cargo traffic of Bengaluru, a direct container train service has been announced between Container Corporation of India's Whitefield Depot in Bengaluru and Krishnapatnam Port on the Eastern Coast to cater to customers in the region. It is expected to benefit the exporters of granite, gherkins, coffee, pharmaceuticals and engineering machinery.

n Chinese e-commerce firm Alibaba tied up with Mumbai-based logistics solutions provider MYPACCO as a part of its Trade Facilitation Center (TFC) initiative. The TFC provides SMEs with a platform to trade globally by providing a one-stop solution in terms of finance, credit and logistics. It will also help Indian SMEs to develop and grow their cross-border businesses. As a partner of Alibaba's TFC, MYPACCO will offer freight forwarding, customs clearance, documentation, warehousing, transportation and 3PL services to Indian SMEs through the TFC.

n Last mile logistics service provider LetsTransport acquired Bengaluru-based Shifter, a mini truck service provider. The acquisition is expected to help LetsTransport to optimise its growing customer base and its fleet of transport and delivery vehicles in organised logistics.

Highlights

Logistics*: Key financial indicators

*Transport logistics services; Note: Net profit is PAT net of prior period and extraordinary itemsSource: CMIE


Net sales ` bn 35.9 30.9 33.7 34.2 36.8

y-o-y growth % 12.4 0.4 6.8 8.9 2.4

Net profit ` bn 2.3 3.1 2.7 3.3 3.5

y-o-y growth % -6.4 4.0 11.1 39.8 52.5


PASSENGER VEHICLE INDUSTRY

Utility vehicles: Domestic sales (Nos)

Passenger cars: Domestic sales (Nos)

n Mercedes-Benz recently inaugurated its second manufacturing facility in Chakan (Pune), thereby doubling the capacity to 20,000 units per annum. The plant will locally manufacture its compact SUV.

n Honda Cars India initiated the export of Jazz to South Africa from its Rajasthan plant. The company is expanding the capacity at its Tapukara, Rajasthan plant from 1.2 lakh units to 1.8 lakh units, with an investment of ` 3.8 billion.

n Mahindra & Mahindra (M&M) set up a separate business unit in an attempt to tap the growth potential in the African market. M&M intends to establish hubs in Egypt, Kenya and Nigeria in addition to South Africa where it is already present.


Highlights

Global News

n Malaysian carmaker Proton entered into an MoU and license agreement with Japan's Suzuki Motor Corp. to form a long term strategic collaboration and partnership.

n Guangzhou Automobile Group Motor plans to invest Yuan two billion in a factory in China that will exclusively build green new energy vehicles.

New Launches

Passenger vehicle sales (Nos)

Source: CMIE

*Price in ` crore

Segments May-14 May-15y-o-y growth

(%)Apr-May

FY15Apr-May

FY16y-o-y growth

(%)

Micro 1,001 1,365 36.4 2,028 2,851 40.6

Mini & Compact 128,468 134,321 4.6 244,382 267,358 9.4

Super Compact and Mid Size 17,240 22,509 30.6 34,009 45,575 34.0

Executive 1,705 1,700 -0.3 2,888 3,477 20.4

Premium 162 172 6.2 323 394 22.0

Vans 15,109 14,344 -5.1 27,537 29,219 6.1

Passenger cars 163,685 174,411 6.6 311,167 348,874 12.1

Multi-utility vehicles 44,267 43,260 -2.3 84,947 86,786 2.2

Domestic sales 207,952 217,671 4.7 396,114 435,660 10.0

Exports 48,017 51,552 7.4 89,781 102,031 13.6

Total sales 255,969 269,223 5.2 485,895 537,691 10.7

Variant Company Price (in ` lakh) Segment

Celerio diesel Maruti Suzuki 4.65-5.71 Compact

640d Eminence* BMW 1.14 Luxury

640d Design Pure Experience* BMW 1.21 Luxury

New Age XUV500 Mahindra & Mahindra 11.12 Premium SUV

S 600 Guard* Mercedes-Benz 8.9 Armored vehicle

GenX Nano Tata Motors1.99-2.49 (manual)

2.69-2.89 (AMT) SUV

RS 6 Avant* Audi 1.35 Luxury sports

Safari Storme (updated) Tata Motors 9.99 SUV

20,000

40,000

60,000

80,000

100,000

120,000

140,000

160,000

180,000

200,000

May-

14

Jun-1

4

Jul-14

Aug-1

4

Sep-1

4

Oct

-14

Nov-

14

Dec-

14

Jan-1

5

Feb-1

5

Mar-

15

Apr-

15

May-

15

0

10,000

20,000

30,000

40,000

50,000

60,000

May-

14

Jun-1

4

Jul-14

Aug-1

4

Sep-1

4

Oct

-14

Nov-

14

Dec-

14

Jan-1

5

Feb-1

5

Mar-

15

Apr-

15

May-

15

RETAIL INDUSTRY

n Dogo, a Turkish brand entered the Indian market through an alliance with e-commerce portal FashionAndYou. Dogo sells bags, footwear, clothes, accessories and home décor products.

n ReGlobe, the re-commerce platform for used electronic gadgets, entered into a tie up with Amazon to re-purchase mobiles, tablets and laptops. ReGlobe has already collaborated with Snapdeal, eBay and Infibeam.

n The Confederation of All India Traders announced plans to launch its e-commerce portal called e-Lala in the next three months. The portal will directly connect sellers with consumers and eliminate the need for an intermediary between the two parties.

n SPAR, the Dutch food retailer is expanding operations in India. Currently operating 16 hypermarkets in the country, SPAR India plans to open four new outlets this year. SPAR, which had entered India in 2014 in partnership with Max Hypermarkets, plans to operate 25 hypermarket stores by 2017.

n Grasim Industries, part of the Aditya Birla Group, announced plans to sell its consumer products business to Future Consumer Enterprise Ltd on a slump sale basis. The division manufactures face care wipes, baby wipes and house care products under the Kara, Puretta, Handy and Prim brands.

n Gap, the US apparel retailer launched its first store in the country in Delhi through its Indian franchisee Arvind Lifestyle Brands. The company plans to open 10 stores in Delhi, Mumbai and Bengaluru by mid 2016 and 40 stores over the next five years.

n Mumbai-based Visagar Polytex, the manufacturer of women's ethnic wear under the Vividha brand, plans to add nearly 200 stores over the next three years. Currently operating in Kolkata and Rajasthan, the company plans to expand its presence in Gujarat, Madhya Pradesh, Maharashtra and Uttar Pradesh.

n In line with its recent strategy of expanding presence in tier II and III cities, Titan announced plans to add 100 new outlets in small towns across retail formats such as World of Titan, Fastrack and Helios.

n Adidas launched its first omni-channel store in New Delhi that will connect its online, mobile and physical presence. Based on the response, the company will launch 200 such stores in various cities by April 2016.

n Microsoft has initiated the rebranding of Nokia Priority Stores as Microsoft Priority Resellers. The company's multi-brand retail outlets are being rechristened Microsoft Priority Resellers.

n Online grocer Big-Basket acquired logistics provider Delyver with an aim to strengthen its capacity to deliver faster to its customers across 50 cities and to face market competition.

n Online real estate portal Housing.com acquired 100% equity stake in Realty Business Intelligence, a risk assessment firm.

Highlights

Retail: Key financial indicators

N.A.: Not applicable (losses incurred)Note: Net profit: PAT net of prior period and extraordinary itemsSource: CMIE


Net sales ` mn 48,958.9 46,940.2 54,297.1 53,236.3 54,223.8

y-o-y growth % 90.0 93.1 85.6 11.1 10.8

Net profit ` mn -3,303.1 -123.2 -323.8 325.4 -247.4

y-o-y growth % N.A. N.A. N.A. -77.8 N.A.

PAT margin % -6.7 -0.3 -0.6 0.6 -0.5

Trend in HRC and CRC prices- Mumbai (`/tonne)

STEEL INDUSTRY

n The Government imposed duties in the range of US$ 180 and US$ 316 per tonne on certain industrial-grade stainless steel imported from China, Malaysia and South Korea, and these will be valid for a period of five years.

n Steel Authority of India Limited (SAIL) set a target to produce 50 million tonnes per annum (MTPA) of steel by 2025 at an estimated investment of ` 1.5 trillion.

n ArcelorMittal and Steel Authority of India (SAIL) signed an MoU to set up an automotive steel manufacturing facility in India, The project, to be set up through a joint venture, will include construction of a state-of-the-art cold rolling mill and other downstream finishing facilities in India that will offer technologically advanced steel products to India's rapidly growing automotive sector.

n Tata Steel entered into a collaboration with Swansea University for a project called ACCOMPLISH (Algal Carbon Capture and Biomass-Linked Supply Chain). The project analyses the capacity for natural algae to use carbon dioxide as a nutrient for growth and will contribute to Tata Steel's commitment to reducing unavoidable carbon dioxide emissions from manufacturing operations.

n Mishra Dhatu Nigam Limited (Midhani), a PSU under the Ministry of Defence, signed an MoU with Research and Development Centre for Iron & Steel, the R&D arm of SAIL, to jointly undertake R&D activities in the iron & steel industry. In the initial phase, the two state-owned companies decided to take up collaborative research in cold rolled grain oriented (CRGO) steel products.

n US-based industrial gas manufacturer Praxair signed a long-term contract with Brazilian metal producer Gerdau, one of the largest long steel producers in the America, for the supply of gaseous oxygen to Gerdau's blast furnace in Tadipatri, Andhra Pradesh.

Finished Steel Production

Highlights

HR Coils (2.00 mm) CR Coils (1 mm)

Source for above charts: CMIE

Production (LHS) Growth (RHS)

'000 Tonnes %

Steel: Key financial indicators

Note: Operating profit: PBDIT net of prior period and extraordinary items (P&E) & Other income; Net profit: PAT net of P&ESource: CMIE

35,000

40,000

45,000

50,000

55,000

May-

14

Jun-1

4

Jul-14

Aug-1

4

Sep-1

4

Oct

-14

Nov-

14

Dec-

14

Jan-1

5

Feb-1

5

Mar-

15

Apr-

15

May-

15

0

2

4

6

8

10

12

14

6,200

6,400

6,600

6,800

7,000

7,200

7,400

7,600

7,800

8,000

Apr-

14

May-

14

Jun-1

4

Jul-14

Aug-1

4

Sep-1

4

Oct

-14

Nov-

14

Dec-

14

Jan-1

5

Feb-1

5

Mar-

15

Apr-

15


Net sales ` bn 579.4 521.4 541.5 509.2 510.2

y-o-y growth % 5.0 11.5 7.0 -2.1 -12.0


y-o-y growth % 25.0 45.3 27.2 -15.3 -38.2

Net profit ` bn 32.9 35.4 23.4 10.4 1.5

y-o-y growth % 24.9 212.4 64.4 -58.0 -95.5



n The Union Ministry of Textiles intends to roll out schemes worth ̀ 4.27 billion to promote geotechnical textiles in the North East India.

n Coimbatore-based Kumaraguru College of Technology and the Indian Textile Accessories and Machinery Manufacturer's Association, Mumbai signed an MoU to set up a Common Facility Centre for textile engineering industry at the campus. The proposed CFC will have a testing and quality control facility for engineering and plastics.

n Garment manufacturing company KGI Clothing plans to set up a production unit at an investment of ` 12 crore at Sri City Special Economic Zone near Chennai. The proposed plant, which is expected to be commissioned by the end of this year, would produce garments for men and women.

n Ludhiana-based Bhandari Hosiery Exports plans to set up a new line of multi-faceted fabric manufacturing units at its existing location to support its future growth in textile production business. The company plans to expand its presence in Europe and the US.

n China Small and Medium Enterprise Investment Ltd, a Chinese investment firm, signed an MoU with the Gujarat Government's Industrial Extension Bureau to set up a textile park near the industrial town of Sanand in Gujarat, in the first phase.

Fabrics production(Million sq. metres)

Cotton and Synthetic yarn production ('000 tonnes)

TEXTILE & GARMENT INDUSTRY


Highlights

Cotton yarn production Synthetic yarn production

Textiles & Garments: Key financial indicators


4,600

4,800

5,000

5,200

5,400

5,600

5,800

Mar-

14

Apr-

14

May-

14

Jun-1

4

Jul-14

Aug-1

4

Sep-1

4

Oct

-14

Nov-

14

Dec-

14

Jan-1

5

Feb-1

5

Mar-

15

0

50

100

150

200

250

300

350

400

Mar-

14

Apr-

14

May-

14

Jun-1

4

Jul-14

Aug-1

4

Sep-1

4

Oct

-14

Nov-

14

Dec-

14

Jan-1

5

Feb-1

5

Mar-

15


Net sales ` bn 424.7 388.8 405.9 383.9 392.0

y-o-y growth % 1.4 4.7 -1.0 -5.5 -7.7


y-o-y growth % -21.3 1.0 -12.6 -11.2 9.4

Net profit ` bn 0.5 0.7 3.6 -2.0 2.4

y-o-y growth % -94.3 -78.9 -51.2 N.A. 373.5


Net profit margin % 0.1 0.2 0.9 -0.5 0.6

http://www.business-standard.com/search?type=news&q=Textile

Three-wheeler: Domestic salesvolume (Nos.)

Two-wheeler: Domestic sales volume (mn)

TWO-WHEELER AND THREE-WHEELER INDUSTRY

Source for above charts: CMIE

Highlights

n Suzuki Motorcycle India Private Limited, a subsidiary of Suzuki Motor Corporation of Japan introduced two new motorcycles - GSX-S1000 and GSX-S1000F, priced at ̀ 1,225,000 and ̀ 1,270,000 (ex-showroom), respectively.

n Royal Enfield, a subsidiary of Eicher Motors plans to expand its market in South East Asia and Latin America. The company plans on tapping the 250cc to 800cc market in Brazil, Indonesia and Thailand. It also plans to spend $ 78 million to increase its production capacity by 50% in India and building new technology centers, of which one is in Britain.

n Piaggio announced the launch of an online store in partnership with Snapdeal.com in India. A range of Vespa scooters will be available at a booking amount of ` 5,000, which includes Vespa, VX, Vespa S and Vespa Elegante. Harley-Davidson also recently tied up with fashion portal Myntra to sell its casual merchandise through an exclusive online store.

n In a bid to expand its presence in the rural market, Hero MotoCorp entered into a tie up with Punjab National Bank to create a strong presence in the rural market by providing easy financing schemes.

Two Wheelers & Three Wheelers

Source: CMIE


Two & Three Wheelers: Key financial indicators

Segments

May-15 Apr-May FY16

Vol (Nos) y-o-y growth (%) Vol (Nos) y-o-y growth (%)

Domestic Sales

Two wheelers 1,380,950 -1.2 2,668,014 -0.7

Three wheelers 36,500 -9.7 69,166 -6.4

Exports

Two wheelers 211,820 -1.0 396,481 -3.0

Three wheelers 38,743 27.9 86,291 51.9

0.0

0.2

0.4

0.6

0.8

1.0

1.2

1.4

1.6

1.8

May-

14

Jun-1

4

Jul-14

Aug-1

4

Sep-1

4

Oct

-14

Nov-

14

Dec-

14

Jan-1

5

Feb-1

5

Mar-

15

Apr-

15

May-

15

0

10000

20000

30000

40000

50000

60000

May-

14

Jun-1

4

Jul-14

Aug-1

4

Sep-1

4

Oct

-14

Nov-

14

Dec-

14

Jan-1

5

Feb-1

5

Mar-

15

Apr-

15

May-

15 Parameters Units Q4FY14 Q1FY15 Q2FY15 Q3FY15 Q4FY15

Net sales ` bn 144.7 155.2 166.1 162.0 151.5

y-o-y growth % 9.5 15.9 22.5 9.1 4.7


y-o-y growth % 21.1 10.1 11.7 7.3 -2.1

Net profit ` bn 15.6 15.0 19.2 16.5 15.5

y-o-y growth % 12.0 9.4 34.4 5.4 -0.8



Automotive

Passenger vehicle

Commercial vehicle

2 & 3- wheeler

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Documents

Industry cursor - June 2015 - Dun & Bradstreet India business in Rane Madras facility. n Wheels India, part of the TVS Group, which is engaged in manufacturing steel wheels, plans