REVENUE EXPECTATIONS
Budget may include implementation of global minimum corporate tax rate
Union Budget Tax Expectations: India’s adoption of OECD's Pillar 2, implementing a 15% GloBE tax rate for multinationals, may be announced. This could benefit MNEs through rules like Income Inclusion. Insights from Akhilesh Ranjan and MSKA highlight GIFT city implications. Abhishek Goenka notes UAE's 9% rate advantage. Provisions may enter India's Income-tax Act or involve stakeholder feedback. Effective compliance is key.
Union Budget: What lies ahead in Budget 2024 for indirect taxes?
Budget Expectations: The upcoming Union Budget by NDA 3.0 is highly anticipated for its economic and social welfare policies to rejuvenate India. The budget is expected to focus on infrastructure, healthcare, education, job creation, and tax reliefs. Indirect taxation, including GST, will be a key area of scrutiny, with potential adjustments to customs duties and the introduction of production-linked incentive schemes. The industry eagerly awaits measures to streamline compliance processes, boost revenue, and support the Make in India initiative.
Budget 2024 needs to decide if faceless assessment is revolutionising tax landscape or creating hurdles?
Union Budget 2024 Tax: The eagerly awaited Union Budget 2024 in India brings focus to refining the faceless assessment scheme, crucial for taxpayers and corporates. Despite challenges faced in implementation, such as unwarranted additions and arbitrary disallowances, the scheme aims to streamline tax assessments. Reforms and corrective actions are needed for a more effective and fair tax system, fostering business growth and economic development.
Expect tailwinds for IT sector in near term: Anshul Saigal
There is a lot of excitement around what the opportunity is and which is why you are seeing at higher levels more and more people coming in and buying. But it is precisely in such high bullish times that you see seeds of bearish times ahead and which is why I would be cautious in this space going forward.
Union Budget 2024 may test Modi govt’s fiscal prudence as it attempts to fulfil Lok Sabha manifesto promises
Budget 2024: Modi is back in power with a stronger reliance on the NDA coalition, and FM Nirmala Sitharaman is expected to maintain fiscal prudence. The Centre has a target of bringing down India's fiscal deficit for FY25 to 5.1% of GDP, which experts see as an encouraging indicator for 'Bharat's' growth story. Sitharaman said that the government would stick to numbers provided in the interim budget numbers if voted to power.
Expect another 10-15% move in TCS, Infosys going ahead: Sandip Agarwal
So, if you see, four quarters back, same quarter last year the margin was 23.5 and now it is 24.7. So, there is a 120 basis point improvement in margin despite the wage hike impact which is there. So, it implies that this year they will end somewhere around 27%.
HCL Tech Q1 Results Preview: PAT may grow 6% YoY to Rs 3,745 crore, revenue uptick seen at 6.5%
Revenue for the quarter is projected to be Rs 27,997 crore, marking a 6.5% increase over the same quarter of the previous financial year, according to average estimates. Although the company is expected to report year-on-year growth in profit after tax (PAT), a sequential decline is anticipated due to project completions and reduced discretionary spending.
Budget 2024: Morgan Stanley expects Nirmala Sitharaman to focus on road map for 'Viksit Bharat'
Global brokerage firm Morgan Stanley expects Finance Minister Nirmala Sitharaman's upcoming Budget to focus on the government's road map for 'Viksit Bharat' by 2047, and outline a medium-term plan for fiscal consolidation. The anticipated emphasis is on capital expenditure, targeted social sector spending, and improving access to physical, social, and digital infrastructure.
Relief for stock market investors? Why double taxation of dividends should be removed in Budget 2024
Budget 2024 expectations: The abolition of dividend distribution tax has affected taxpayers in India. Resident shareholders are now taxed on dividends at their income tax slab rates, leading to a higher effective tax burden compared to the previous system. Such dual taxation distorts investment decisions as it incentivises companies to retain earnings rather than distribute them as dividends. To address this challenges, rationalisation of the tax treatment of dividends is crucial. Here's how Budget 2024 should address it.
Budget 2024: Watch her words - Important clues to Sitharaman's upcoming budget
Budget Expectations: After the BJP formed a government with allies due to a lack of majority, Nirmala Sitharaman's reappointment as finance minister signaled policy continuity. Despite the interim budget not allowing major announcements, her prudence over populism stood out. With fiscal pressures and demands for cash transfers, her upcoming budget will be closely watched.
Nykaa expects consolidated revenue to rise 22-23% in April-June quarter
In a BSE filing on its quarterly revenue update for the April-June quarter of FY25, Nykaa said for the consolidated entity, the GMV (Gross Merchandise Value) growth for the quarter is seen to be in the mid-20s year-on-year.
FMCG makers expect single-digit revenue growth, margin improvements in April-June quarter
Fast-moving consumer goods cos expect single-digit volume growth along with expansion in margins during the April-June quarter of this fiscal, helped by a revival in rural demand and a stable urban market. Listed FMCG companies such as Dabur, Marico and Adani Wilmar in their latest quarterly updates have reported a "gradual improvement" in demand trends in the April-June quarter, which was on the expected lines.
FMCG makers expect single-digit revenue growth, margin improvements in April-June quarter
FMCG companies like Dabur, Marico, and Adani Wilmar expect single-digit volume growth and margin expansion in the April-June quarter. Positive demand trends are observed, particularly in the rural market. Overall, FMCG players anticipate 7-9% revenue growth for the fiscal year.
FMCG sector expected to see 7-9 pc revenue growth in FY25, helped by a recovery in rural markets: Crisil
FMCG sector revenue is projected to grow 7-9% this fiscal, driven by rural revival, urban demand, and rising disposable incomes. Crisil Ratings indicates premiumisation will boost margins by 50-75 basis points despite marketing expenses. Rabindra Verma highlights 8-9% F&B and home care growth, and 6-7% for personal care. FY25 will see low single-digit product realisation growth.
We expect 15% to 20% revenue growth this financial year: Nalin Gupta, J Kumar Infraprojects
The revenues have been growing at 15% to 17% and this year 15% to 20% is what we are expecting in terms of the top line.
What to expect from NDA 3.0's budget #1
The new NDA government's budget aims for faster fiscal correction with higher growth and central bank profits to lower interest rates.
ITC Q4 Preview: Revenue to grow around 3% YoY; margins to contract
Brokerage firms expect that ITC will announce subdued revenue growth for the fourth quarter when it declares its results on May 23. Based on projections from different brokerages, it's anticipated that profits will see a modest 3% year-on-year increase, with the hotels segment expected to perform strongly. In the previous December quarter, ITC recorded a 6% rise in consolidated net profit, amounting to Rs 5,335 crore.
IndiGo Q4 Preview: PAT may double YoY on robust demand; healthy revenue growth likely
Brokerages anticipate robust earnings from India’s premier airline in the fourth quarter. The results, slated for release on May 23, are expected to reveal a 16% year-on-year growth in revenue for the period. According to Motilal Oswal, Revenue Passenger Kilometers (RPK) is projected at 30 billion, marking a 16% increase from the previous year, while Passenger Load Factor (PLF) is anticipated to rise to 87.5%, up from 85.8% in 3QFY24. Additionally, Available Seat Kilometers (ASK) are forecasted to reach 34 billion, reflecting a 12% year-on-year uptick.
M&M Q4 Preview: Volume to drive 7% YoY revenue growth but tractor sales may disappoint
Three brokerage firms anticipate the auto giant's net profit to fall within the range of Rs 1,777 crore to Rs 2,079 crore. Revenue from operations is projected to reach Rs 24,051 crore. In the corresponding period last year, M&M disclosed a standalone PAT of Rs 1,549 crore and revenue of Rs 22,571 crore.
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