Mon, Nov 18, 2024

Industry Multiples in India Report 2024–25th Edition

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Umakanta Panigrahi

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Aviral Jain

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Sanjay Ray

We are pleased to launch the 25th edition of our Industry Multiples in India report. The report provides an overview of trading multiples for various key industries in India as of September 30, 2024, using constituents of the Standard and Poor’s (S&P) BSE LargeCap, S&P BSE MidCap and S&P BSE SmallCap indices.

Key Highlights

Per the World Bank Group’s report, economic growth in India increased from 7.0% in FY2022-23 to 8.2% in FY2023-24. Growth from the demand side was primarily driven by significant expansion of investment in public infrastructure investment and real estate. Growth from the supply side was supported by a rebound in the manufacturing sector, benefiting from a buoyant construction sector and low input costs.
Market capitalization of companies in the pharmaceutical and biotechnology industry considered has increased by 21.7% from Q2 to Q3 CY24. The Indian pharmaceutical market is currently around USD 50 billion (bn) and is expected to touch USD 130 bn by 2030. Another positive turn is that the Indian government is promoting domestic raw material production through Production-Linked Incentive scheme thereby attempting to reduce supply chain risk linked to China.

Market capitalization of companies in the textile, apparel and luxury goods industry has increased by 6.3% from Q2 CY24 to Q3 CY24. The Indian textile industry is currently worth USD 22 bn and is expected to expand to USD 350 bn by 2030, adding 35 million jobs. Political instability in Bangladesh has created an opportunity for Indian textile companies and we can expect a shift of 10-11% of Bangladesh's export orders to India, thereby leading to an additional $300-400 million in monthly revenue.
Market capitalization of companies in the electric and gas utilities industry has increased by 9.4% from Q2 CY24 to Q3CY24. In the next 10 years, urbanization, a strong economic outlook, and new demand generators like electric vehicles (EVs), data centers, and the electrification of energy requirements are expected to accelerate growth of power demand in India, with a 7% CAGR. India has made a commitment to achieving 500GW of renewable energy capacity by 2030, which opens a lot of prospects to produce renewable energy, especially wind and solar power.

Connect with Us

Umakanta Panigrahi

Managing Director

Valuation Advisory Services

Mumbai

+91 22 6623 1002 Umakanta Panigrahi

Aviral Jain

Managing Director

Valuation Advisory Services

New Delhi

+91 (0)11 4935 9801 Aviral Jain

Sanjay Ray

Managing Director

Valuation Advisory Services

Mumbai

+91 99309 44313

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