car
Executives in the sector expect vehicle sales growth to pick up in the second half of the year, buoyed by a normal monsoon and the upcoming festival season, with the two-wheeler segment likely to outperform other segments.
Capital Goods
Company executives see robust demand from sectors like power T&D (transmission and distribution), renewable energy, data centres, real estate and defence. Profit margins for EPC (engineering, procurement and construction) companies are expected to improve in the second half of FY25.
Specialty Chemicals
Despite the end of inventory destocking, pricing pressures remain strong and rising raw material and freight costs are expected to impact margins.
Consumer
To offset rising raw material costs, companies plan to implement price increases in the second half of FY25. The outlook for local markets is favorable, and operating margins are expected to improve gradually.
Banks and NBFCs
Net interest margins (NIMs) are likely to decline moderately due to rising cost of funds. Stated banks are likely to continue to achieve steady earnings growth on improving asset quality, but NBFCs and HFCs will face challenges in the home loan segment due to tighter regulations and seasonal weakness.
health care
Chronic treatments in the domestic formulations (DF) segment continue to show growth, while acute treatments face seasonal challenges. The pharmaceutical industry is benefiting from niche pipelines in the US and EU, and hospitals are expanding to meet demand.
logistics
Company management expects operational performance to improve during the festive season, supported by lower fuel costs and stable operational costs. Longer-term optimism in the sector is driven by sector growth drivers such as e-way bills, GST rollout, expansion of dedicated freight corridor routes and improved port connectivity that are encouraging a shift towards the organised sector.
metal
Coking coal costs have stabilised or fallen and domestic demand is expected to support steel output volumes and margins, but global uncertainties may keep international prices in check.
Oil & Gas
Major oil marketing companies are poised for significant growth with expansion projects over the next two years nearly complete. City gas marketing companies are optimistic about robust sales volume growth and stable profit margins as spot LNG prices are expected to stabilize. Gas companies are also forecasting robust transportation volumes.
Demand recovery?
real estate
Companies are confident of sustained demand and are focusing on timely launches as inventory levels are low, targeting growth of 20-30 per cent in FY25.
technology
IT companies remain cautious about near-term demand, while discretionary spending in the U.S. banking and financial services sector is expected to recover slightly.
Strong deal wins in BFSI and signs of early recovery suggest that FY25 could perform better than FY24.
communication:
Tariff hikes are expected to drive revenue growth from October as companies focus on reducing debt.Capex spending at Bharti and Jio is expected to moderate, while Vodafone will maintain investment in network upgrades.
