Major Project on

Financial Analysis of Indian Corporate Sector

A Project in partial fulfillment of the requirement

for the award of the Degree of BBA

Submitted by Group No. 11

Abhishek Shrivastava 2019UBA9020
Ankuj Malik 2019UBA9023
Ayush Choudhary 2019UBA9025
Yash Mohanpuria 2019UBA9038

Under the Guidance of

Dr. Neha Saini

Department of Management Studies,

NETAJI SUBHAS UNIVERSITY OF
TECHNOLOGY
 CERTIFICATE

This is to certify that the project entitled “Financial Analysis of the Indian
Corporate Sector” being submitted by Abhishek Shrivastava (2019UBA9020),
Ankuj Malik (2019UBA9023), Ayush Choudhary (2019UBA9025) and Yash
Mohanpuria (2019UBA9038) to the department of Management Studies ,
NSUT, for the record of bachelor’s degree in Business Administration, is the
record of bonafide work carries out by them under my supervision and
guidance, The results contained in this report have not been submitted either in
part or in full to any other university or institute for the award of any degree or
diploma.

Supervisor

Dr. Neha Saini

Department of Management Studies
NSUT, New Delhi

ii
 DECLARATION

We the student of BBA at Netaji Subhas University of Technology, hereby

declare that this project titled “Financial Analysis of Indian Corporate Sector”
submitted to Department of Management Studies is a record of an original work
done by us under the guidance of Dr. Neha Saini.

This report work has been performed on the basis for the award for any degree,
diploma, associate ship, fellowship, or any other similar title, of any institute or
any other body.

Group 11
Date: May 20, 2022

Abhishek Shrivastava Ankuj Malik Ayush Choudhary Yash Mohanpuria

2019UBA9020 2019UBA9023 2019UBA9025 2019UBA9038

iii
 ACKNOWLEDGEMENT

We wish to convey our profound gratefulness to Dr. Neha Saini,

Department of Management Studies, Netaji Subhas University of
Technology, Delhi, for giving us the opportunity to work on this
project. Without her thoughtful encouragement, careful supervision,
and unfailing support, this thesis would have never taken shape. The
skills and knowledge which we have gained through the project form a
valuable component in our future career development. We are grateful
to our parents for supporting us through the course of this project. We
want to express our gratitude to the staff and others that assisted us with
the project.

iv
PLAGIARISM REPORT

v
 Table of Contents

CHAPTER 1: Introduction………………………………….……8
1.1: Background ………………………………….…9
1.2: Problem Statement...………………………..….11
1.3: Objectives of study……….……………………11

CHAPTER 2: Literature review…………………………………12

2.1: Literature review……………………………….13

CHAPTER 3: Research methodology…………………………...15

3.1: Research methodology………………................16

CHAPTER 4: Sector analysis…………………………………....17

4.1: FMCG sector…………………………………...18
4.2: IT sector………………………………………...21
4.3: Automobile industry…………………………....25
4.4: Food & beverages industry……………………..29
4.5: Pharmaceuticals………………………………...33

vi
CHAPTER 5: Data analysis & Interpretation……………………37
5.1: Analysis ………………………………………...38

CHAPTER 6: Findings and Conclusion ………………...……….45

CHAPTER 7: Annexure………………………………………….48
7.1: Questionnaire…………………………………...49
7.2: Bibliography……………………………………51

vii
 CHAPTER 1
INTODUCTION

viii
1. Introduction
The corporate sector of India is the backbone of the growth of
economy. Corporates are integral to fostering innovation and
entrepreneurship and ensuring the future progress of an economy. Dr.
Kamatam Srinivas and Dr. S Ramakoteshwar Rao (2020)1 The
combined efforts of numerous enterprises in reaching the goal of
industrialization and expanded production may easily be viewed as
contributing to the balanced development of diverse areas of organized
economic activity, according to the study. India being one of the largest
developing countries moving towards being a developed country at the
fastest rate, the corporate industries play a major role in that part. The
corporate sector is responsible for production of goods and services,
investment decisions enhance the production capacity of the economy.

1.1 Background
Corporate sector requires a continuous growth from both macro and
micro viewpoints. We will be studying the financials of the top 5
leading industries in the corporate sector.
1) Fast Moving Consumers Good (FMCG)
2) Software and Services
3) Automobiles

1
Dr. K Srinivas and Dr. SR Rao (2020) ‘Financial Performance of Indian Corporate Sector – A study of top ten
companies’ IOSR Journal of Business and Management Volume 22, Issue 6, PP 19-25.

ix
 4) Food & Beverages
5) Pharmaceuticals

Financial analysis is the process of studying the financial statements of

a firm or industry in detail to determine its performance and stability.

There are two sorts of Financial Analysis which will be continued in

this review.
1) Fundamental Analysis: Fundamental analysis utilizes
proportions assembled from information within the financial
statements, for example organization’s EPS i.e., earning per
share, to estimate the business value.
2) Technical Analysis: It makes advantage of statistical trends
derived from trade, such as moving averages. It is a trading
discipline that is used to evaluate investments and different
trends.
The financial performance of an industry or an entity is a subjective
matter on how an entity uses its assets to generate revenue for growth.
Per FJ Fabozzi and PP Peterson (2000)2 both traditional and
quantitative equities investing require financial analysis and
dependence on financial data quality.

2
FJ Fabozzi and PP Peterson (2000) ‘Analysis of Financial Statements’ Frank J Fabozzi Associates Wiley
Publishers. Issue No. 1

x
 1.2 Problem Statement
The corporate sector at present is going through a phase of
stable growth which is experiencing an upward swing after the
impact of Covid pandemic in the past years. The rise can be
maintained over a long period by keeping the inflation down.

1.3 Objective of Study

The main purpose of this study is to evaluate the financial performance
of the top five Indian business industries. To make recommendations
for increasing investor’s performance and value.

xi
 CHAPTER 2
LITERATURE REVIEV

xii
2.1 Literature Review
Corporate Sectors are defined as the combination of private and public
industries that contribute towards the development of economy by
providing goods and services. As per OECD library (2020) corporate
sector covers non-financial and financial corporation’s sector: All
commercial and public enterprises that manufacture goods and/or
provide non-financial services to the markets are included in the non-
financial corporation sector. It also covers quasi-corporations such as
sole proprietorships and unincorporated partnerships in some nations.
Financial corporations are all resident organizations or quasi-
corporations mainly concerned in financial intermediation..
As per Salma Alshami and Haneen Al Kahlot (2020)3 Financial
analysis is one every of the foremost effective suggests for assessment
of this situation within corporate and therefore the prediction of future
trends and risks in its development. From this perspective, the advanced
analysis of the wide selection of economic ratios and indicators will be
enabling the analyst and senior management of the corporate to spot
these opportunities and risks in the performance of the corporate. The
adequate and careful assessment of the monetary ratios for the
organization ought to be thought about in concert with the effective
tools for the estimation of the inner environment of the corporate.
Within the context of the study, the monetary analysis of various
industries was performed.

3
Alshamsi, Salma, and Haneen Al Kahlout. "Financial Statement Analysis of Unilever."

xiii
As defined by Investopedia (2021) financial analysis is the process that
is used by analyst for assessing a company's or entity's performance in
terms of financial factors such as cash flows, ratios, financial
statements, and profitability. As per R Kaufmann et al. (2001)4 Today,
there are two basic methodologies for analyzing the financial effects of
various entrepreneurial strategies. The first, scenario testing, forecasts
business outcomes in the future based on deterministic scenarios.

As a result, the results of scenario testing are only useful if the scenario
is correct. Stochastic simulation, often known as Financial Analysis
when applied to financial cash flow modelling of a corporation, is a
strategy for overcoming this issue. Lots of different scenarios are
generated randomly, allowing for the entire probability distribution of
primary outcome variables such as surplus, paid premiums, and loss
ratios.

4
Kaufmann, R., Gadmer, A., & Klett, R. (2001). Introduction to Dynamic Financial Analysis. ASTIN Bulletin,
31(1), 213-249. doi:10.2143/AST.31.1.1003

xiv
 CHAPTER 3
RESEARCH METHODOLOGY

xv
3.1 Research Methodology
To the study secondary data has been taken from the published annual
reports of companies, economic times and money control reports of the
company published in 2021 and 2020. The data has been properly
organized, sorted, evaluated, and arranged in accordance with the
study's needs. Profitability, market capitalization, and revenue are the
chosen metrics for examining financial statements. The software used
for the analysis are MS Excel for data interpretation, SPSS, and R
Programing for statistical analysis.
Techniques used for the analysis is Ratio analysis, Cashflow analysis,
Statistical analysis.

xvi
 CHAPTER 4
SECTOR ANALYSIS

xvii
4.1 FMCG Sector
Introduction
Consumer packaged goods (CPG), often known as fast moving
consumer goods (FMCG), is worth billions of dollars industry that
includes a diverse variety of brands. The FMCG sector are the
essentials items we use in our life of daily basis. It comprises of goods
that are generally replaced over a short period of time.

India is one of the greatest FMCG markets in terms of purchasing and

consumer power, with a population of over 1 billion people. With a
market value of Rs. 1,300 billion.

Major share of various FMCG companies

Fig 1.1

xviii
Growth Projection
Most FMCG products are non-durable, and their volume
compensation has been largely unaffected in the current economic
slowdown. Despite the epidemic and obstacles, the sector has
performed admirably. In the previous year, it climbed by over 15%.

About the Company – Hindustan Unilever

Fig 1.2

In the research paper we will be analyzing Hindustan Unilever to

determine the financial performance of the FMCG sector.
HUL raised the market share of its portfolio by more than 80%.
According to the Economic Times (2020), the company currently has
14 brands and over Rs. 1000 crore in yearly sales, up from 12 brands
in FY 2020.

xix
 Fig 1.3

Hindustan Unilever Financials

Fig 1.4

Segmental wise performance in 2020-21

Fig 1.5 Fig 1.6

xx
4.2 Information and Technology Industry
Introduction
The Information and Technology industry includes companies that
manufacture software and hardware components for companies
providing internet or related services. The 3 major business teams at
intervals the IT sector square measure software package and services,
technology hardware and instrumentation, and semiconductors and
semiconductor instrumentation. These 3 business teams square
measure additional divided into industries and sub-
industries. firms square measure aligned to a selected sub-industry that
best describes their core or most profitable business.

The software package and services business cluster is

formed from firms that offer net services, additionally as firms that of
fer software package and IT
services. net services embrace firms that offer on-line databases or
interactive services, like search engines or social networks. IT services
includes firms that offer IT consulting or processing services
to alternative firms. Finally, software package consists of any form
of software package for business or shopper use, starting
from enterprise software package and Programme to video games.

Technology hardware and instrumentation is softened into 3 industries:

communications equipment; technology hardware, storage, and
peripherals; and equipment, instruments, and elements.
xxi
Communications instrumentation includes routers, telephones, and
switchboards. Technology hardware, storage and peripherals includes
computers, printers, and cell phones. equipment, instruments,
and elements include firms that build instrumentation like barcode
scanners, transformers, and security
systems, additionally as firms that square measure distributors or
original instrumentation makers (OEM).

Semiconductors square measure substances which will conduct

electricity underneath some conditions, however not
others, creating them ideal for dominant electrical
currents. semiconductor may be a material that's often used as a
semiconductor.
This business cluster includes each firm that build semiconductors and
corporations that build peripheral instrumentation for semiconductors.

About the company – Tata Consultancy Services

Fig 2.1

Tata practice Services (TCS) is associate

degree Indian international info technology (IT) services
xxii
and firm headquartered in metropolis. it's a district of the
Tata cluster and operates in 149 locations across forty-six countries.

TCS is Nation's second enterprise by market cap and one of the world's
largest IT services brands. In 2015, TCS was hierarchic sixty
fourth overall within the Forbes World's Most
Innovative corporations ranking, creating it each the highest-ranked IT
services company and therefore the high Indian company. As of
2018, it's hierarchic eleventh on the Fortune Republic of India five
hundred list. TCS became the first Indian IT company to make $100
billion in market capitalization, and the second Indian company to do
just that (following Reliance Industries in 2007), when its Mumbai
exchange valuation reached 6.793 trillion dollars. (equivalent to 7.7
trillion or US$100 billion in 2020).

TCS generated over seventieth of Tata Sons' dividends in 2016–2017,

with the parent firm Tata Sons owning 72.5% of the corporation. Tata
Sons sold out of TCS stock for $1.25 billion in a massive deal in March
2018. TCS has a market capitalization of $200 billion as of September
15, 2021, making it the first Indian IT company to do so.

xxiii
Tata Consultancy Services Financials
TCS ends FY 22 with the highest ever additional revenue gain and the
biggest ever order book $11.3 billion in Q4; $34.6 billion in FY 22 –
highest ever incremental revenue in a year: $3.533 Bn - Q4 Revenue
`50,591 crore, +15.8% (+14.3 percent CC) - FY 22 revenue of 191,754
crore, an increase of 16.8% (CC: +15.4%) - Industry-leading Operating
Margin of 25.3 percent in FY 22 - Net Income of 38,327 crore (+14.8%)
in FY 22 * YoY.

Fig 2.2

xxiv
4.3 Automobile Industry
Introduction
India produced 22.65 million autos in fiscal year 21, with 13 million of
those produced from April to October. Due to a growing middle class
and a large part of India's population being young, the two-wheeler
category dominates the market in terms of volume. Furthermore, the
increased interest of businesses in investigating rural markets boosted
the sector's expansion.
India is a major vehicle exporter, with strong development prospects in
the near future. Furthermore, various government and major vehicle
manufacturer initiatives are likely to push India to the forefront of the
global two-wheeler and four-wheeler markets by 2022.

The fierce rivalry in India's automobile sector has made it feasible to

drive the most expensive automobiles, with foreign firms gaining the
same traction as domestic players.

Every other day, we hear about new launches and low-cost cars, all of
which have been modified to ensure that the average man is not left
behind. Between FY 2009 and FY 2020, the CAGR of the Indian
automotive industry's sales is around 8%.

xxv
In 2020, India's vehicle sector was the world's fifth largest. Several
Indian automakers have also expanded their businesses outside,
requesting additional funding in the Indian automobile sector by the
MNCs.

Hyundai Motors alone shipped 240,000 made in India vehicles in 2008,

demonstrating the industry's potential.

About the company – Tata Motors

Fig 3.1

Tata Motors Group (Tata Motors) has a $34 billion market cap. It is a
world-renowned automobile company. Automobile, sport - utility,
Lorries, buses, and defense vehicles are among the company's varied
product offerings. Tata Motors is one of’s
finest automakers, with a diverse variety of integrated, smart, and e-
mobility solutions.

Tata Motors is one of the world's largest vehicle manufacturers and is

part of the USD110 billion Tata group, which was founded by Jamsetji

xxvi
Tata in 1868. By providing new mobility solutions that are in
accordance with clients' objectives, we believe in 'Connecting
Aspirations.' We are India's largest automobile manufacturer, and we
are continuing to shape the Indian commercial vehicle landscape by
introducing cutting-edge powertrains and electric solutions that are
packaged for power and user comfort at the lowest life-cycle costs.
Impact Design underpins our new passenger cars and utility vehicles,
which provide a greater balance of performance, drivability, and
connectivity.

Fig 3.2

Our mission is to be passionate about predicting and providing the

greatest cars and experiences that delight our worldwide clients across
our globally dispersed organization.

xxvii
Tata Motors Financials

Fig 3.2

Fig 3.3

xxviii
4.4 Food & Beverages Industry
Introduction
The food and beverage sector is huge, complicated, and full of
specialized machinery. It's one of the world's oldest industries, but it's
still brimming with new ideas. Whether it's through new products or
higher-volume, lower-cost production practices, this industry is
reportedly looking for new ways to create the food consumers want at
the lowest possible price. And essential equipment is always on hand.
Equipment for industrial-scale food manufacturing is used in the food
and beverage industry, and it spans from simple ovens and conveyor
belts to complex bottling and packaging machinery.

In this essay, we'll give you a quick overview of this important business
and look at the special issues that its equipment poses for bearings and
other components. Finally, we look at how TriStar has applied its
materials expertise to help food and beverage firms overcome
engineering challenges. Advanced polymers and composites are a
powerful solution for clean, greaseless operation in food processing
and packaging facilities.

The foodservice sector, which has been associated with hotels since
humans began travelling, meets the basic needs of clients for food and
beverages.

xxix
People who leave their homes for a variety of purposes, including work,
education, business, pleasure, medical care, sports, religion, and so on,
rely entirely on the foodservice industry to feed them.

The history of India's food and beverage sector can be traced back
thousands of years to ancient community feasts and pilgrimage
movements. Most people were on the move to preach religion and hunt.
People relied on natural sources for food and took shelter under trees
when they were gone from their homes during those days.

About the Company - Britannia Industry

Fig 4.1

Britannia Industries is a significant food company in India, with a 100-

year history and yearly revenues of more than $1 billion. Rs. 9000 Cr.
Britannia is one of India's most trusted food companies, producing
popular brands like as Good Day, Tiger, NutriChoice, Milk Bikis, and
Marie Gold, which are household names in the country. Britannia sells
biscuits, bread, cakes, rusk, and dairy products such cheese, drinks,

xxx
milk, and yoghurt. Our trademarks are cherished and appreciated in
India and around the world by many generations of Indians. Britannia
goods are sold in about five million retail outlets across India, reaching
more than half of Indian households.

Britannia dairy goods reach 100,000 outlets directly, and the company's
dairy segment generates close to 5% of revenue.
With a yearly turnover of more than one lac tonnes in volume and
Rs.450 crores in value, Britannia Bread is truly the market leader in the
organised bread sector. The company has thirteen plants and four
franchisees that sell about one million loaves each day in over a
hundred Indian cities and towns.

We have operations in over 60 countries around the world. We have a

solid presence in the Middle East through local industries in the UAE
and Oman, where we are the No. 2 biscuit player with a strong claim to
leadership, and a similar market position in the other GCC countries.
In Nepal, where we are currently investing in a manufacturing facility,
we are also market leaders.

xxxi
Britannia Industry Financials

Fig 4.2

Fig 4.3

xxxii
4.5 Pharmaceuticals Industry
Introduction
India is the world's foremost generic pharmaceutical supplier. More
than half of global vaccine demand, 40% of generic demand in the
United States, and 25% of all pharmaceuticals in the United Kingdom
are supplied by the Indian pharmaceutical industry. India is the world's
third-largest volume producer and fourteenth-largest value
manufacturer of pharmaceuticals.
The domestic pharmaceutical sector is made up of a network of 3,000
medicinal firms and 10,500 units of production.

In the global medicines industry, India holds a

major place. additionally, the country boasts a giant pool of scientists
and engineers who have the potential to propel the industry forward to
new heights. Antiviral drugs are being supplied by Indian
pharmaceutical companies to over 80% of the world's AIDS (Acquired
Immune Deficiency Syndrome) patients.

The home market is expected to rise thrice during the next decade,
according to the Indian Economic Survey 2021. In 2021, India's
domestic pharmaceutical industry is expected to be valued US$ 42
billion, growing to US$ 65 billion by 2024 and US$ 120-130 billion by
2030.

xxxiii
The Indian biotechnology industry was valued at 64 billion dollars in
2019, with forecasts of 150 billion dollars by 2025.
India's medical device industry was worth $10.36 billion in FY20.
From 2020 to 2025, the market is expected to grow at a 37 percent
CAGR, reaching US$ 50 billion.

• India's medicine and pharmaceutical exports totaled US$ 24.44

billion in fiscal year 21.
• India is the 12th largest exporter of medical goods in the
world. Pharmaceutical exports account for 6.6 percent of all
merchandise exports in the country.
• India had sent 586.4 lakh COVID-19 vaccines to seventy-one
countries as of May 2021, which included grants (81.3 lakh),
commercial exports (339.7 lakh), and COVAX platform exports.
(165.5 lakh).
• Indian pharmaceuticals are shipped to over 200 nations around
the world, with the United States being the most important
market.
• Generic medications make for 20% of global exports in terms
of volume, making the country the world's largest provider of
generic medicines.
 The Indian remedies and pharmaceuticals business got US$
18.12 billion in foreign direct investment between April 2000
and June 2021. (FDI). The Indian remedies and pharmaceuticals
business got US$130 million in foreign direct investment
between April and June 2021. (FDI).
• In FY21, North America was India's largest pharmaceutical export
market, accounting for 34% of total exports.
About the Company – Sun Pharma

xxxiv
 Fig 5.1

Sun Pharmaceutical Industries Ltd. (Sun Pharma) is the world's fourth

largest specialty generic pharmaceutical company, with annual
revenues exceeding US$ 4.5 billion. We supply high-quality,
affordable medications to more than 100 countries throughout the
world, backed by more than 40 production facilities that are trusted by
patients and healthcare professionals.
Sun Pharmaceutical Industries Limited (d/b/a Sun Pharma) is an Indian
multinational pharmaceutical employer based in Mumbai, Maharashtra
It manufactures and distributes pharmaceutical formulations and active
pharmaceutical ingredients (APIs) in over a hundred countries
worldwide. It is biggest pharma employer in India and the fourth
biggest strong point general pharmaceutical employer withinside the
world, with a complete sale of over US$4.five billion as of June 2021.
The merchandise caters to a huge variety of healing segments masking
psychiatry, anti-infectives, neurology, cardiology, orthopedic,
diabetology, dental and nutritional’s. Acamprosate Calcium,
Alendronate Sodium, Amifostine trihydrate, Budesonide, and
Carvedilol are among the company's API products.

xxxv
Sun Pharma Financials

Fig 5.2

xxxvi
 CHAPTER 5
DATA ANALYSIS and
INTERPRETATION

xxxvii
5.1 Data analysis and Interpretation
Q1) Which sector do you think is the backbone of the economy?
Sector Responses

FMCG 20%

IT Services 48%

Food & Beverages 16%

Pharmaceuticals 4%

Automobiles 12%

Table 6.1

Fig. 6.2

This table depicts the various sectors and their contribution in

maintaining the economy. The IT Services sector contributes the most.
i.e., 48%. Least contribution is that of the pharmaceuticals sector i.e.,
4%. Other sectors such as FMCG, Food & Beverages and Automobiles
have 20%, 16% and 12% contribution, respectively.

xxxviii
Q2) Do you think all these sectors were affected during Covid?
Options Responses

YES 68%

NO 12%

Cannot Say 20%

Table 6.2

Fig. 6.2

From this table, we can see that Covid has a significant impact on the
above-mentioned sectors.
About 12% responses depict that Covid has no effect on the sectors.
Whereas 20% responses did not have a clear say on this topic.

xxxix
Q3) Has Covid affected employment in these sectors?
Options Responses

YES 76%

NO 4%

Cannot Say 20%

Table 6.3

Fig. 6.3

As per the responses received, we can say that employment was

affected in the mentioned sector by a proportion of 76%.
Only 4% responses said that the sectors’ employment did not get
affected by the pandemic.
Whereas 20% responses did not have a clear say on this topic.

xl
Q4) According to you which is the worst affected industry.
Sector Responses

FMCG 8%

IT Services 0%

Food & Beverages 40%

Pharmaceuticals 4%

Automobiles 48%

Table 6.4

Fig 6.4

Based on the responses received, we can see that the Automobiles and
Food & Beverages sector got affected to the maximum extent by about
48% and 40% respectively.
On the other hand, the Pharmaceutical and FMCG sectors got affected
by only 4% and 8% respectively.
IT services did not get affected at all due to the pandemic.

xli
Q5) Do you think government has taken/is taking right steps to
revive these sectors after Covid-19 outbreak?
Options Responses

YES 40%

NO 16%

Maybe 44%

Table 6.5

Fig. 6.5

According to the responses, only 40% people think that the government
took the right steps to revive these sectors after Covid-19 outbreak.
Sixteen percent people did not believe that the government did enough
for the revival of the sectors.

xlii
Q6) Do you think inflation is one of the factors responsible for
slow growth of these sectors post Covid?
Options Responses

YES 64%

NO 8%

Maybe 28%

Table 6.6

Fig. 6.6

As per the responses received, about 64% people believe that inflation
is one of the factors responsible for slow growth of these sectors, post
covid.
About 8% people do not think that inflation has to do with the slow
growth in this case.

xliii
Q7) Do you think government is taking right steps to control
inflation?
Options Responses

YES 24%

NO 24%

Maybe 52%

Table 6.7

Fig 6.7

Based on the Reponses, only 24% people think that the government is
taking right steps to control inflation. The same percentage of people,
i.e., 24% think that the government is not taking the rights steps to
control inflation.
A majority percentage of 52% people do not have a say on this
subject.

xliv
CHAPTER 6
FINDINGS
AND
CONCLUSION

xlv
Financial analysis determines a corporation’s health and stability, providing an
understanding of how the corporation conducts its operations. While analysing
the statements, reports and research papers about different sectors of the Indian
economy we have concluded that the COVID-19 pandemic has had a huge impact
on international exchange and commerce, GDP, personal consumption, job
creation and new investments. India too, has suffered due to unexpected financial
disruptions as a result of short-lived obstacles on group activities and local
lockdowns. India needs to boost its employment rate and create 90 million non-
agricultural jobs in the next decade, for more productivity and economic growth
according to McKinsey Global Institute.

THE ROAD AHEAD

According to a Boston Consulting Group report, by 2025 India will be the world's
third largest consumer economy. A report by PricewaterhouseCoppers stated that
India may surpass USA to grow to be the second largest economic system in
phrases of purchasing power parity(PPP) by 2040.

FMCG SECTOR
Developing awareness, simpler access and changing ways of life have been the
key development drivers for the area. The country’s FMCG sector saw a jump of
16% in CY21 a 9-year high, in spite of several lockdowns. Online gateways are
supposed to play a critical part for organizations attempting to enter the
hinterlands. It is assumed that India will make profits of US$ 15 billion a year by
carrying out GST.

IT SECTOR
India's IT skills definitely stand out with regards to ventures. Indian IT companies
have delivery centers all over the world and are well-diversified across industries
xlvi
such as banking, finance, telecommunications, and retail.. Also the Indian
government showed some support by giving tax exemption of three years in a
block of 7 years to start-ups.

AUTOMOBILE INDUSTRY
Strong demand will derive from rising middle-class income and a large young
population. According to the possibility, India might be a trailblazer in shared
portability by 2030, allowing electric and autonomous vehicles to flourish.
However, growth is reliant on trained labour in low-cost steel production and
research and development centers.
FOOD AND BEVERAGES
This area is supposed to create 9 million job opportunities by 2024. Different
variables, for example, increase in medical problems, the continuous COVID-19
pandemic, and cases of food adulteration, have seen an adjustment of the
customer's purchasing pattern which incorporates interest for prepared to-cook,
prepared to-eat dinners and solid, invulnerability helping snacks. Safe and
processed food categories such as biscuits and snacks have seen a development
in the midst of the COVID-19 emergency.

PHARMACEUTICALS INDUSTRY
In the global medicines industry, India holds a significant place. According to the
Indian Economic Survey 2021, the domestic market will rise thrice.

xlvii
CHAPTER 7
ANNEXURE

xlviii
7.1 QUESTIONNAIRE

Q1. Which sector do you think is the backbone of the economy?

a) FMCG
b) IT Services
c) Food & Beverages
d) Pharmaceuticals
e) Automobile
Q2. Do you think all these sectors were affected during Covid?
a) Yes
b) No
c) Can’t say
Q3. Has Covid affected employment in these sectors?
a) Yes
b) No
c) Maybe
Q4. According to you which is the worst affected industry?
a) FMCG
b) IT Services
c) Food & Beverages
d) Pharmaceuticals
e) Automobile

xlix
Q5. Do you think government has taken/is taking right steps to revive these
sectors after Covid-19 outbreak?
a) Yes
b) No
c) Maybe
Q6. Do you think inflation is one of the factors responsible for slow growth of
these sectors post Covid?
a) Yes
b) No
c) Maybe
Q7. Do you think government is taking right steps to control inflation?
a) Yes
b) No
c) Maybe

l
7.2 BIBLIOGRAPHY

Websites:
1) sunpharma.com
2) www.google.com
3) britannia.co.in
4) www.tatamotors.com
5) www.tcs.com
6) www.hul.co.in
7) www.hindustantimes.com
8) www.investopedia.com
9) www.moneycontrol.com

Research Papers:
1) Dr. K Srinivas and Dr. SR Rao (2020) ‘Financial Performance
of Indian Corporate Sector – A study of top ten companies.
2) FJ Fabozzi and PP Peterson (2000) ‘Analysis of Financial
Statements’ Frank J Fabozzi Associates Wiley Publishers. Issue
No. 1
3) Alshamsi, Salma, and Haneen Al Kahlout. "Financial
Statement Analysis of Unilever."
4) Kaufmann, R., Gadmer, A., & Klett, R. (2001). Introduction to
Dynamic Financial Analysis
5) https://economictimes.indiatimes.com/markets/stocks/news

li