The AGR (Adjusted Gross Revenue) woes has come back to haunt the telecom companies with the Supreme Court refusing to grant any relief to the companies. While Airtel appears reasonably well placed, things looks quite tough for Vodafone Idea. Here is a look at the company, its financials and why things could be tough for … Continue reading Vodafone Idea – Braving the AGR Crisis…
NTPC Ltd (formerly, National Thermal Corporation Ltd) is a low-profile public sector company meeting over 20% of country’s electricity needs. The company has recorded core sales growth of 7.9% CAGR over last ten years and growth in sale of electricity at 2.8%. This is much like the steady-state growth recorded by utility companies in the … Continue reading Corporate Analysis – NTPC Ltd
After a long, gruelling insolvency process extending over 2½ years, ArcelorMittal, along with its JV partner, Nippon Steel, has gained management control of Essar Steel. The takeover also marks the entry of the company, promoted by Indian born, Mr Lakshmi Mittal, into India after failing in its organic attempts over a decade ago. Here is … Continue reading Corporate Analysis – ArcelorMittal Steel.
Corporate sector saw many important developments during the year. A large number of them involved downfall of a company/ its promoter but an important success, ArcelorMittal getting control of Essar Steel after a long and hard-fought battle and entry into the Indian market. Major companies/ promoters to see their decline are Reliance ADAG, ZEE media, … Continue reading The Year That Was – Corporate & Industry
The Supreme Court’s decision last week setting aside the ruling of NCLAT (National Company Law Appellate Tribunal) should bring a finality to this high profile insolvency case. The insolvency process of Essar Steel has generated lot of attention and has been through lot of uncertainty. So much as to prompt the SBI chairman to pray for … Continue reading Essar Steel Insolvency – An Unending Saga..!
India Inc is facing crisis of confidence with unraveling of cases of frauds committed by the top management in the recent past. The latest in the list is allegations of siphoning of funds by the ex-chairman of CG Power, banned by SEBI from capital market yesterday. Cases are not restricted to willful default where lenders’ … Continue reading Corporate Governance – Where is India Inc Headed??
The deal between RIL and Saudi Aramco announced last week is part of several de-leveraging measures being undertaken by RIL and the biggest of all. For Aramco, it is an attempt to de-risk its business against the uncertain dynamics of oil market. Here is a brief attempt to understand this deal and other measures being … Continue reading RIL’s Evolving Strategy – Aramco Deal and Beyond
Dewan Housing Finance Corporation Ltd (DHFL) had a bad last month with series of defaults/delayed payments, downgrade of debt papers to default grade, sale of some of the assets and talks on transfer of ownership to save the company. So, what all is happening to the company with total assets of over Rs 1.25 lakh … Continue reading DHFL – Understanding the Crisis
The decision to call-off the joint venture with ThyssenKrupp is quite a setback for Tata Steel trying to reduce its global exposure. Yet, it is an interesting phase for the company with series of developments reflecting the strategy shift. The focus is shifting back to domestic production in contrasts with the global expansion undertaken during … Continue reading Tata Steel – Understanding the Strategic Realignment
Reliance Industries (RIL), the largest private sector company in the country, recorded a huge increase of 44% in its turnover for the year ended March’19. Equally phenomenal is the fact that balance sheet crossed Rs 10 lakh crore mark, increasing by over Rs 1.8 lakh crore over last year. This is the result of significant … Continue reading Reliance Industries – FY19 Results Analysis