Industry Multiples in India Report 2023 - 21st Edition

Key Highlights

• The Reserve Bank of India (RBI) has revised its forecasts for India’s economic growth to 6.5% from 6.0%. This is attributable to the outperformance in the first quarter. The Purchasing Managers’ Index for manufacturing and services and credit growth remained robust in recent months.
• Market capitalization of companies in the energy industry increased by 15.2% from Q1 CY 2023 to Q2 CY 2023. India has achieved significant progress in renewable energy installed capacity. The energy demand is projected to grow substantially owing to further industrialization and urbanization.
• Market capitalization of companies in the health care facilities industry increased by 22.3% from Q1 CY 2023 to Q2 CY 2023. The outlook remains stable for hospital chains owing to higher in-patient and surgery count which is generating cashflow, and companies are investing in expanding their networks through brownfield capex. The National Medical Device Policy 2023 paves the way for innovation and access and sets out a comprehensive roadmap to achieve a 10.0% to 12.0% share in the expanding global market in the next 25 years.