November 20, 2002
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Money > The Economy: Mid-Year Review - III November 20, 2002 |
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Top 100 companies were Q2 laggardsDeepak Korgaonkar in MumbaiThe top 100 companies ranked in terms of quarterly sales underperformed the corporate sector by posting a combined single-digit growth during the quarter ended September 2002, while the top 500 companies recorded an aggregate sales growth of 10.14 per cent. The companies falling in the sales ranking between 301 and 400 also witnessed a similar trend. The top 100 companies in the list with sales of over Rs 275 crore each showed a 9.71 per cent growth in sales compared with a 10.21 per cent sales growth by the 500 companies. As a result, the share of the top 100 companies in the aggregate sales of the 500 firms declined from 77.9 per cent in the quarter ended September 2001 to 77.6 per cent in the quarter ended September 2002. Of these, sales of the 57 companies jumped by over 10 per cent each, while 26 companies showed a sales growth of 1-10 per cent. The sales of the remaining 17 companies declined during the period. The sales of refinery major Indian Oil Corporation grew by 2.65 per cent, while fast moving consumer goods major Hindustan Lever posted a 10.2 per cent decline. The major contributors among the top 100 companies were Liberty Oil Mills (sales up 152 per cent), HCL Infosystems (up 74 per cent) and TVS Motors (up 57.1 per cent). The companies which showed a decline in sales in this group are Bharat Heavy Electricals Ltd, Dr Reddy's Laboratories, Grasim Industries, Mahanagar Telephone Nigam Ltd, Rashtriya Chemicals and Fertilisers, Shipping Corporation of India, SPIC and Videsh Sanchar Nigam Ltd. The companies in the sales bracket of 101-200 (sales turnover between Rs 275-147 crore) showed a sales growth of 11.79 per cent. Of these, sales of 63 companies were up by over 10 per cent each, the sales of 20 companies were between 1-10 per cent and 17 showed a decline. The notable winners in this range were from the steel, diamond and sugar segments, and losers were from the fast moving consumer goods, pharmaceutical and chemicals companies. Balrampur Chini, Eicher Motors, Gammon India, Lloyds Steel, Saw Pipes and Supreme Industries have reported more than a 40 per cent rise in sales each, while Bayer (India), Colgate-Palmolive, Great Eastern Shipping, Himachal Futuristic Communications, Madras Cements and Oswal Chemicals registered drop in sales during the quarter. The companies in the 201-300 bracket with sales between Rs 88 crore (Rs 880 million) and Rs 142 crore (Rs 1.42 billion) have done well with sales growth of 13.6 per cent. Out of these, sales of 56 companies increased by over 10.3 per cent each, while sales of 25 companies declined between 1 per cent and 44 per cent. Bhatinda Chemicals, Graphite India, i-flex solutions, JCT Electronics and Kalyani Steels posted more than 100 per cent growth, while Alstom, Gulf Oil Corporation, Glenmark Pharmaceuticals, IVP, Mysore Cements and Nova Petrochemicals have reported sales growth between 50 per cent and 100 per cent during the quarter. The companies ranked between 301 and 400 (sales Rs 61-81 crore) recorded an aggregate sales of 9.50 per cent. These companies accounted for a modest 3.8 per cent share of the sales of the 500 companies. The companies ranked between 401 and 500 with sales of Rs 61 crore and below have outperformed the sample of the 500 firms with a 11.5 per cent rise in sales. These companies account for a marginal three per cent share of sales of the 500 companies. Powered by ALSO READ:
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