Thu, Jul 8, 2021

Industry Multiples in India Quarterly Report  – 14th Edition

We are pleased to launch the 14th edition of our Industry Multiples in India quarterly report.

This report provides an overview of trading multiples for various key industries in India as of MARCH 31, 2021, using constituents belonging to the S&P BSE LargeCap, S&P BSE MidCap and S&P BSE SmallCap Indices.

Highlights

  • India experienced a vicious second wave of the pandemic and this has moderated the economic recovery. However, India's stock market is moving more in line with its global peers.
  • Consumer products and retail, diversified industrial products, automotive and transportation were the most active sectors in terms of IPOs in the 2021 first quarter.
  • There was an uptick in sectors such as automobile, construction & engineering, electric and gas utilities, healthcare facilities and services, industrial machinery and tech since December 2020 in terms of EV/EBIDTA multiples.
  • Real estate sector also increased moderately with increase institutional investment in India's real estate market during Q1 CY 2021, marked by the debut of three listed REITs. Further, the country's manufacturing sector is on an uptrend.
  • The multiples in automobile sector also showed a sharp increase mainly due to a strong rebound in sales.

We hope you find this report helpful in getting an overview of the range of trading multiples for major industries in India. If you would like to receive further information or discuss any findings of this analysis, please contact us.

1.Disclaimer: Considering the high levels of volatility in the financial markets and increased uncertainty because of COVID-19, certain industries may experience temporary distortions in trading multiples. Readers need to use significant judgment when it comes to relying on and applying these multiples.

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