Mumbai, April 15, 2009- Notwithstanding the accepted bread-and-butter arrest which has impacted several sectors, the Indian wellness casework bazaar is accepted to abide afloat and has the abeyant to sustain a circuitous anniversary advance amount (CAGR) of about 30-35% for the next 5 years, says a latest abstraction by FICCI and able casework firm, Ernst & Young. The wellness casework bazaar is currently estimated at Rs 11,000 crore.
The FICCI-EY report, blue-blooded Wellness- Exploring the beginning potential, highlights that the advance is accepted on the aback of favorable bazaar demographics, consumerism, globalization, alteration lifestyles, accretion availability above categories and regions and ascent acquaintance a allotment of people.
Says Farokh Balsara, Partner, Advisory Services, Ernst & Young “Given the favourable appeal and accumulation dynamics, wellness presents able business potential. With this report, we accept approved to present a absolute account of the complete wellness economy, absolute users, account providers and the facilitators, the challenges faced by anniversary one and the way advanced for anniversary of these stakeholders, to auspiciously ride this wave.”
The Report has classified the wellness industry into seven amount segments aural altered articles & services, such as Allopathy, Alternative therapies, Beauty, Counseling, Fitness/slimming, Nutrition and Rejuvenation. Of these, awakening casework such as spas, addition therapies, ayurveda treatments and adorableness casework are accepted to appearance advance ante as top as 30%. At the aforementioned time, exercise absolute gyms and slimming centers are accepted to abound by added than 25%. Nutrition products, including comestible supplements, bloom aliment and drinks accept apparent a advance amount of 8-10%, admitting allopathy as a articulation was not classified due to its acceptable bond to healthcare.
According to the report, the accretion akin of action is arising from the access of several providers such as organized Indian and all-embracing players; amplification by absolute companies to new artefact categories and regions; cardinal alliances above the amount chain, absorption by clandestine disinterestedness investors and aswell players in affiliated industries like hotels and absolute acreage entering the wellness segments. The address aswell credibility to a trend of players affective appear alms a ‘one-stop-solution’ for all Wellness based needs by abacus added articles and casework above assorted segments in wellness.
In agreement of aftereffect and evolution periods, articles such as bloom foods & drinks, comestible supplements and addition medicines crave greater investments, commonly beyond Rs25 crore or more, says the report, with paybacks alignment from 3-6 years. At the aforementioned time, casework such as ayurveda treatment, addition analysis centers, salons etc crave abundant lower investment and aswell accept lower paybacks of upto three years.
When it comes to regions, the south is abundant advanced in agreement of apocalyptic absorption for the organized wellness-based centres per domiciliary (34.4 centres per lakh households), as compared to 13.6 for the north, 12 for west and 10.1 in the east. The address attributes south’s advance to the attendance of added addition therapies based centres. There are aswell bright chump preferences in anniversary arena with attention to anniversary segment. While alternating therapies are the a lot of accepted best of humans in southern India, barter in arctic are absorbed appear beauty, while the best amount of fitness/ slimming centres is in the west.
The address shows that above segments, on an boilerplate added than 50% of the bazaar is alternate and awful anecdotal with several baby and bounded players. While ayurveda and addition treatments are predominantly unorganised; bloom foods and drinks and comestible supplements are added organised.The beyond account providers face a claiming from the attendance of the alternate area as it puts amazing burden on appraisement and accordingly margins.
Adds Mr. Balsara, “To actualize a acceptable archetypal for the providers, there is a claim of three key abutment pillars, which are media cars for breeding awareness; skills-based apprenticeship and training for animal resources; and government abutment to activate the development of capacity, acquaint above standards and animate barter to use accepted industry players..”
Other accomplish all-important to tap the abeyant cover focus by the account providers to enhance affirmation on above of casework provided, architecture collaborative administration models to enhance abyss and across of advantage and reach, a counterbalanced artefact portfolio and bear top standards in chump accord and acquaintance management.
At the government level, the address has alleged for bigger affiliation a allotment of altered government entities; industry cachet for wellness so all the players can collectively plan beneath one industry body; analyze regions that are able on wellness and accommodate the accompaniment governments to crop up aggregate efforts to accomplish India a adopted wellness destination.
Ernst & Young is a all-around baton in assurance, tax, transaction and advising services. Worldwide, our 130,000 humans are affiliated by our aggregate ethics and an abiding charge to quality. We accomplish a aberration by allowance our people, our audience and our added communities accomplish potential. For added information, amuse appointment www.ey.com.
Ernst & Young refers to the all-around alignment of affiliate firms of Ernst & Young Global Limited, anniversary of which is a abstracted acknowledged entity. Ernst & Young Global Limited, a UK aggregation bound by guarantee, does not accommodate casework to clients.
This account absolution has been issued by EYGM Limited, a affiliate of the all-around Ernst & Young alignment that aswell does not accommodate any casework to clients.
Ernst & Young Pvt. Ltd
Corporate Communications
2009年12月16日星期三
Micralyne Inc - CEO of MEMS Manufacturer is up for the appellation of Ernst & Young Entrepreneur of the Year
Micralyne MEMS FoundryStore this angel in big sizeEDMONTON, ALBERTA – Micralyne Inc.’s Chris Lumb, CEO of the arch absolute MEMS manufacturer, has been called as a finalist for the Ernst & Young Entrepreneur Of The Year® Award for 2008 in the chic of Biotechnology & Technology.
Ernst & Young appear the finalists for this accolade on July 3rd, 2008. The Entrepreneur Of The Year Awards honour the spirit and addition of entrepreneurs actuality and about the world. This year, the Canadian affairs is proudly adulatory a anniversary celebration — 15 years of honouring the country’s a lot of absorbing entrepreneurs from all areas of business.
Under the administration of Chris Lumb, Micralyne has been able to advance an outstanding clue almanac of advance and advantage in the MEMS industry area advance is rare. “I am captivated to be called a finalist for the Ernst & Young Entrepreneur of the Year award” said Chris Lumb, “reaching the finalist account reflects on the abundant adherence of the absolute Micralyne agents alive appear our success”
This year the awards will be handed out on Tuesday, October 21, 2008 at the Telus Convention Centre in Calgary, Alberta.
About Ernst & Young
Ernst & Young is a all-around baton in assurance, tax, transaction and advising services. Worldwide, our 130,000 humans are affiliated by our aggregate ethics and an abiding charge to quality. We accomplish a aberration by allowance our people, our audience and our added communities accomplish potential. www.ey.com/ca
About Micralyne Inc.
Micralyne, an absolute MEMS foundry, develops and articles MEMS (Micro-Electro-Mechanical-Systems)-based products. MEMS technology enables automated apparatus to be decidedly smaller, faster and beneath expensive. Micralyne’s micron-scale solutions (1 mm = 1000 microns) are begin in automotive discharge sensors, optical switching technology, microfluidic lab-on-a-chip medical devices, and bartering columnist equipment. www.micralyne.com
For added advice amuse contact:
Isaac Saraga
Communications Associate
Micralyne Inc
780.431.4403
isaacs@micralyne.com
www.micralyne.com
Micralyne, an absolute MEMS foundry, develops and articles MEMS (Micro-Electro-Mechanical-Systems)-based products. MEMS technology enables automated apparatus to be decidedly smaller, faster and beneath expensive. Micralyne’s micron-scale solutions (1 mm = 1000 microns) are begin in automotive discharge sensors, optical switching technology, microfluidic lab-on-a-chip medical devices, and bartering columnist equipment.
Ernst & Young appear the finalists for this accolade on July 3rd, 2008. The Entrepreneur Of The Year Awards honour the spirit and addition of entrepreneurs actuality and about the world. This year, the Canadian affairs is proudly adulatory a anniversary celebration — 15 years of honouring the country’s a lot of absorbing entrepreneurs from all areas of business.
Under the administration of Chris Lumb, Micralyne has been able to advance an outstanding clue almanac of advance and advantage in the MEMS industry area advance is rare. “I am captivated to be called a finalist for the Ernst & Young Entrepreneur of the Year award” said Chris Lumb, “reaching the finalist account reflects on the abundant adherence of the absolute Micralyne agents alive appear our success”
This year the awards will be handed out on Tuesday, October 21, 2008 at the Telus Convention Centre in Calgary, Alberta.
About Ernst & Young
Ernst & Young is a all-around baton in assurance, tax, transaction and advising services. Worldwide, our 130,000 humans are affiliated by our aggregate ethics and an abiding charge to quality. We accomplish a aberration by allowance our people, our audience and our added communities accomplish potential. www.ey.com/ca
About Micralyne Inc.
Micralyne, an absolute MEMS foundry, develops and articles MEMS (Micro-Electro-Mechanical-Systems)-based products. MEMS technology enables automated apparatus to be decidedly smaller, faster and beneath expensive. Micralyne’s micron-scale solutions (1 mm = 1000 microns) are begin in automotive discharge sensors, optical switching technology, microfluidic lab-on-a-chip medical devices, and bartering columnist equipment. www.micralyne.com
For added advice amuse contact:
Isaac Saraga
Communications Associate
Micralyne Inc
780.431.4403
isaacs@micralyne.com
www.micralyne.com
Micralyne, an absolute MEMS foundry, develops and articles MEMS (Micro-Electro-Mechanical-Systems)-based products. MEMS technology enables automated apparatus to be decidedly smaller, faster and beneath expensive. Micralyne’s micron-scale solutions (1 mm = 1000 microns) are begin in automotive discharge sensors, optical switching technology, microfluidic lab-on-a-chip medical devices, and bartering columnist equipment.
Ernst & Young India - Ernst & Young announces 19 Finalists for the Tenth Entrepreneur of the Year Award 2008
New Delhi, November 10, 2008: Nineteen of India’s acknowledged entrepreneurs, who accept displayed an alarming vision, incessant alacrity and affection to accomplish a difference, accept been called as ‘Finalists’ for the coveted Ernst & Young Entrepreneur of the Year Awards. This year, the awards will be appear on November 26th in Mumbai in the attendance of arch all-around and business personalities, including Mr. Somnath Chatterjee, Hon’ble apostle of Lok Sabha, as the Chief Guest.
A six-member board absolute eminent personalities, chaired by Mr. KV Kamath, Managing Director & CEO, ICICI Bank, called the finalists from over 291 nominations accustomed this year, the accomplished back the Awards were launched in 1999, which added proves that with anniversary casual year the accolade continues to calibration new heights.
The finalists for 2008 are listed below (alphabetically):
Anil Agarwal, Vedanta Resources Plc, A.M. Naik, Larsen & Toubro, Arvind Rao, Onmobile Global, Gautam Thapar, Avantha Group, G. Bala Reddy, ICSA India, I. Syam Prasad Reddy, Indu Projects, Jaiprakash Gaur, Jaypee Group, Mavila Vishwanathan Nair, Union Bank Of India, Mehul Choksi, Gitanjali Gems, M. M. Murugappan, Carborundum Universal, P. Namperumalsamy, Aravind Eye Care System, P R S Oberoi, EIH, Ram Chandra Agarwal, Vishal Retail, Rohinton Screwvala, UTV Software Communications, R. S Butola, ONGC Videsh, Sanjay Nayak, Tejas Networks, Sanjeev Bikhchandani, Hitesh Oberoi, Info Edge (India), Shantanu Prakash, Educomp Solutions, Venugopal Nandlal Dhoot, Videocon Industries
“I am acutely appreciative to be associated with Ernst & Young’s action to honour ambitious arete in India. There were several outstanding nominations this year and the finalists were called analytic at assorted ambit such as accumulation appetence with advantage and ambition acclimatization with adaptability. While the finalists appear from assorted sectors, they were affiliated in their admiration to accomplish above the ordinary. Each one of them has fabricated discernable contributions to the abridgement by creating amount and befalling at large.” says Mr. KV Kamath, Managing Director & CEO, ICICI Bank, who chaired the board for the awards.
Other board associates cover Mr. Ravi Venkatesan, Chairman, Microsoft India, Ms. Shobhana Bhartia, Vice Chairperson & Editorial Director, HT Media, Mr. Manish Kejriwal Senior Managing Director Investment - India & Russia, Temasek Holdings Advisors India, Mr. R Seshasayee, Managing Director, Ashok Leyland and Tarun Das, Chief Mentor, CII.
Says Mr. Rajiv Memani, Country Managing Partner, Ernst & Young, “The Entrepreneur Of The Year Program has provided us an befalling to get a actual abutting appearance as aswell apprentice from the ambitious journeys of some of India’s finest business leaders. The characteristic affection of Indian entrepreneurs today is the aplomb and acceleration with which they are affective advanced in the bounded and all-embracing markets. Notably, for abounding of them, their achievements go above active a assisting business to aswell impacting the association at ample and thereby creating added across-the-board advance for India.”
The champ of the Entrepreneur Of The Year Award will represent India at the Ernst & Young World Entrepreneur Of The Year Awards (WEOY) in Monte Carlo, Monaco in May, 2009. Recipients of the Entrepreneur Of The Year accolade become lifetime associates of the World Entrepreneur Of The Year Hall of Fame.
About the Entrepreneur Of The Year Award
Ernst & Young aboriginal advised and produced the Entrepreneur Of The Year Award in the United States in 1986, to honour the backbone and adeptness of those ablaze entrepreneurs, who accept created and abiding acknowledged business ventures. Ernst & Young India launched the Programme in 1999, authoritative it the aboriginal country in the firm’s Asia-Pacific arena to acquaint this initiative.
Past recipients of the EOY awards cover B Ramalinga Raju (Satyam), Tulsi Tanti (Suzlon), Kumar Mangalam Birla (Aditya Birla Group), Sunil Bharti Mittal (Bharti Enterprises), Ratan Naval Tata (Tata Group), N R Narayana Murthy (Infosys), Brijmohan Lall Munjal (Hero Group), Mukesh D Ambani (Reliance), Tulsi Tanti (Suzlon Energy Ltd.), Wayne Huizenga, (Huizenga Holdings), Jeff Bezos (Amazon.com), Michael Dell (Dell Computers), Howard Schultz (Starbucks Coffee), Jerry Yang (Yahoo), Scot Kriens (Juniper Networks) and Tony Tan Caktiong (Jollibee Foods)
About Ernst & Young
Ernst & Young is a all-around baton in assurance, tax, transaction and advising services. Worldwide, our 135,000 humans are affiliated by our aggregate ethics and an abiding charge to quality. We accomplish a aberration by allowance our people, our audience and our added communities accomplish their potential.
For added information, amuse appointment www.ey.com/india
Ernst & Young refers to the all-around alignment of affiliate firms of Ernst & Young Global Limited, anniversary of which is a abstracted acknowledged entity. Ernst & Young Global Limited, a UK aggregation bound by guarantee, does not accommodate casework to clients.
This account absolution has been issued by Ernst & Young Private Limited which is one of the Indian applicant confined affiliate firms of Ernst & Young Global Limited.
Ernst & Young Pvt. Ltd. is a aggregation registered beneath the Companies Act, 1956 accepting its registered appointment at Block C, 3rd Floor, 22 Camac Street, Kolkata - 700016
The year 2008 marks the 10th year of this actual different affairs in India, which has acclaimed the actualization of abounding arch entrepreneurs over the endure decade.
Atipriya Sarawat
Ernst & Young India Pvt. Ltd.
+91-124-4644254, 09871066772
atipriya.sarawat@in.ey.com
www.ey.com/india
A six-member board absolute eminent personalities, chaired by Mr. KV Kamath, Managing Director & CEO, ICICI Bank, called the finalists from over 291 nominations accustomed this year, the accomplished back the Awards were launched in 1999, which added proves that with anniversary casual year the accolade continues to calibration new heights.
The finalists for 2008 are listed below (alphabetically):
Anil Agarwal, Vedanta Resources Plc, A.M. Naik, Larsen & Toubro, Arvind Rao, Onmobile Global, Gautam Thapar, Avantha Group, G. Bala Reddy, ICSA India, I. Syam Prasad Reddy, Indu Projects, Jaiprakash Gaur, Jaypee Group, Mavila Vishwanathan Nair, Union Bank Of India, Mehul Choksi, Gitanjali Gems, M. M. Murugappan, Carborundum Universal, P. Namperumalsamy, Aravind Eye Care System, P R S Oberoi, EIH, Ram Chandra Agarwal, Vishal Retail, Rohinton Screwvala, UTV Software Communications, R. S Butola, ONGC Videsh, Sanjay Nayak, Tejas Networks, Sanjeev Bikhchandani, Hitesh Oberoi, Info Edge (India), Shantanu Prakash, Educomp Solutions, Venugopal Nandlal Dhoot, Videocon Industries
“I am acutely appreciative to be associated with Ernst & Young’s action to honour ambitious arete in India. There were several outstanding nominations this year and the finalists were called analytic at assorted ambit such as accumulation appetence with advantage and ambition acclimatization with adaptability. While the finalists appear from assorted sectors, they were affiliated in their admiration to accomplish above the ordinary. Each one of them has fabricated discernable contributions to the abridgement by creating amount and befalling at large.” says Mr. KV Kamath, Managing Director & CEO, ICICI Bank, who chaired the board for the awards.
Other board associates cover Mr. Ravi Venkatesan, Chairman, Microsoft India, Ms. Shobhana Bhartia, Vice Chairperson & Editorial Director, HT Media, Mr. Manish Kejriwal Senior Managing Director Investment - India & Russia, Temasek Holdings Advisors India, Mr. R Seshasayee, Managing Director, Ashok Leyland and Tarun Das, Chief Mentor, CII.
Says Mr. Rajiv Memani, Country Managing Partner, Ernst & Young, “The Entrepreneur Of The Year Program has provided us an befalling to get a actual abutting appearance as aswell apprentice from the ambitious journeys of some of India’s finest business leaders. The characteristic affection of Indian entrepreneurs today is the aplomb and acceleration with which they are affective advanced in the bounded and all-embracing markets. Notably, for abounding of them, their achievements go above active a assisting business to aswell impacting the association at ample and thereby creating added across-the-board advance for India.”
The champ of the Entrepreneur Of The Year Award will represent India at the Ernst & Young World Entrepreneur Of The Year Awards (WEOY) in Monte Carlo, Monaco in May, 2009. Recipients of the Entrepreneur Of The Year accolade become lifetime associates of the World Entrepreneur Of The Year Hall of Fame.
About the Entrepreneur Of The Year Award
Ernst & Young aboriginal advised and produced the Entrepreneur Of The Year Award in the United States in 1986, to honour the backbone and adeptness of those ablaze entrepreneurs, who accept created and abiding acknowledged business ventures. Ernst & Young India launched the Programme in 1999, authoritative it the aboriginal country in the firm’s Asia-Pacific arena to acquaint this initiative.
Past recipients of the EOY awards cover B Ramalinga Raju (Satyam), Tulsi Tanti (Suzlon), Kumar Mangalam Birla (Aditya Birla Group), Sunil Bharti Mittal (Bharti Enterprises), Ratan Naval Tata (Tata Group), N R Narayana Murthy (Infosys), Brijmohan Lall Munjal (Hero Group), Mukesh D Ambani (Reliance), Tulsi Tanti (Suzlon Energy Ltd.), Wayne Huizenga, (Huizenga Holdings), Jeff Bezos (Amazon.com), Michael Dell (Dell Computers), Howard Schultz (Starbucks Coffee), Jerry Yang (Yahoo), Scot Kriens (Juniper Networks) and Tony Tan Caktiong (Jollibee Foods)
About Ernst & Young
Ernst & Young is a all-around baton in assurance, tax, transaction and advising services. Worldwide, our 135,000 humans are affiliated by our aggregate ethics and an abiding charge to quality. We accomplish a aberration by allowance our people, our audience and our added communities accomplish their potential.
For added information, amuse appointment www.ey.com/india
Ernst & Young refers to the all-around alignment of affiliate firms of Ernst & Young Global Limited, anniversary of which is a abstracted acknowledged entity. Ernst & Young Global Limited, a UK aggregation bound by guarantee, does not accommodate casework to clients.
This account absolution has been issued by Ernst & Young Private Limited which is one of the Indian applicant confined affiliate firms of Ernst & Young Global Limited.
Ernst & Young Pvt. Ltd. is a aggregation registered beneath the Companies Act, 1956 accepting its registered appointment at Block C, 3rd Floor, 22 Camac Street, Kolkata - 700016
The year 2008 marks the 10th year of this actual different affairs in India, which has acclaimed the actualization of abounding arch entrepreneurs over the endure decade.
Atipriya Sarawat
Ernst & Young India Pvt. Ltd.
+91-124-4644254, 09871066772
atipriya.sarawat@in.ey.com
www.ey.com/india
Ernst & Young India - Indian steel’s abiding fundamentals are intact: Ernst & Young
Store this angel in big sizeNew Delhi, 18 February 09: Leading able casework close Ernst & Young (EY) today appear a address blue-blooded ”Indian Steel Industry 2009: squeezed, but strong” at the Mining to Steel Summit 2009 organized by Indian Chambers of Commerce (ICC) here. Sounding an optimistic note, the address states that admitting the apple animate book is grim, India has the abeyant to abound at bifold chiffre ante and should ambition a assembly of 125 mn tonnes in the average term.
Drawing a alongside with China, it goes on to say that during the 1998-2003 period, if the accomplished all-around animate assembly grew at a circuitous anniversary advance amount (CAGR) of 1.6%, the Chinese accomplished animate burning angled at a CAGR of 18%. The key drivers of Chinese animate appeal were massive basement development and top akin of urbanization, ascent appeal from housing, auto and white appurtenances sectors, says the report.
Says Navin Vohra, Partner & National Leader – Metals & Mining Practice for Ernst & Young, “the accepted Indian book is actual agnate to that of China in 1998 and we apprehend cogent investments actuality appear all-embracing accessible infrastructure, urbanization, auto and white goods. Further, in the long-term, accommodation in the article industry has to move to bargain centres and India is well-placed with abounding high-quality adamant ore, able manpower and aggressive basic costs due to low acreage and architecture costs. ”
According to the report, while the near-to-medium appellation approaching of the all-around animate industry is challenging, the angle for India is aswell auspicious because clashing the endure blade appearance during 1993-94 to 2001-02 if the calm area was addled beneath a accumulation overhang the accumulation – appeal book is added counterbalanced this time.
On the accompanying catechism of whether the Indian animate industry is able for the accepted appeal growth, the address has appropriate assertive proactive measures to addition accumulation additions such as antecedence area cachet for acclaim availability, bright and actual abundance allocation and acreage accretion policies.
Steel prices abide beneath burden in near-term
According to the report, the near-term angle for the industry is arduous as the advance in key end-user industries such as construction, automobiles and accomplishment has taken a backseat. The abatement has aswell led to a abatement in the prices for raw abstracts such as adamant ore and coking coal, admitting at a lower amount than the dip in animate prices. Further, prices are accepted to abatement in 2009 as burning levels are projected to abide plummeting.
As animate manufacturers accept undertaken assembly cuts, this is acceptable to aftereffect in a surplus of adamant ore and consistent abrasion of ore prices. It is accepted that the calm animate companies will try to drive harder bargains for adamant ore, admitting the circumscribed attributes of the raw actual industry ensures that about it is the ascribe suppliers who accept bigger acceding ability than the animate manufacturers, thereby impacting operating margins, says the report.” Similarly, the coking atramentous bazaar is aswell accepted to about-face into a surplus on anniversary of the assembly cuts in the industry.
Says Navin Vohra, Partner & National Leader – Metals & Mining Practice, Ernst & Young, “the companies with bound mines will be in a bigger position to action the downturn. The key strategies which companies can accept in this book is to focus on value-added products, rationalize amount anatomy through bigger manpower planning, acumen and raw actual sourcing. The companies with a focus on the calm bazaar are acceptable to be added agreeably placed, accustomed the almost stronger appeal from the bounded users.”
Raw actual aegis to drive M&A in the abiding
Over the endure three years, the Indian animate industry has witnessed 44 alliance & accretion (M&A) affairs accumulation USD 16.8 bn. A majority of these were outbound deals and accretion of animate processing units. Achieving ability aegis has been a primary disciplinarian abaft these deals. Further, bounded expansion, added bazaar allotment and an bigger amount anatomy accept been administering these transactions.
Given the accepted clamminess crunch, M&A activities accept broiled up and are accepted to abide low in the concise as companies are award it difficult to accession funds from the debt and disinterestedness markets. Only cash-rich or well-capitalized companies are accepted to chase the asleep advance route.
The address estimates M&A action to backlash if the acclaim crisis eases and the abridgement picks up as calm players will crave adamant ore and coking atramentous affluence for acceptable their raw actual security. Further, there is a almost top breach in the industry in India and accordingly a charge to attain economies of calibration and advance acceding ability with raw actual producers. Increasing bounded advance to access high-value animate markets is addition imperative.
Ends
About Ernst & Young
Ernst & Young is a all-around baton in assurance, tax, transaction and advising services. Worldwide, our 135,000 humans are affiliated by our aggregate ethics and an abiding charge to quality. We accomplish a aberration by allowance our people, our audience and our added communities accomplish their potential.
For added information, amuse appointment www.ey.com/india
Ernst & Young refers to the all-around alignment of affiliate firms of Ernst & Young Global Limited, anniversary of which is a abstracted acknowledged entity. Ernst & Young Global Limited, a UK aggregation bound by guarantee, does not accommodate casework to clients.
This account absolution has been issued by Ernst & Young Private Limited which is one of the Indian applicant confined affiliate firms of Ernst & Young Global Limited.
Ernst & Young Pvt. Ltd. is a aggregation registered beneath the Companies Act, 1956 accepting its registered appointment at Block C, 3rd Floor, 22 Camac Street, Kolkata – 700016
A arbitrary of the Ernst & Young Steel Report, Indian Steel Industry 2009: squeezed, but strong
Contact Information:
Priti Bhutani
Ernst & Young Pvt. Ltd.
+91-124-4644255, +91 98109 95350
priti.bhutani@in.ey.com
www.ey.com/india
Drawing a alongside with China, it goes on to say that during the 1998-2003 period, if the accomplished all-around animate assembly grew at a circuitous anniversary advance amount (CAGR) of 1.6%, the Chinese accomplished animate burning angled at a CAGR of 18%. The key drivers of Chinese animate appeal were massive basement development and top akin of urbanization, ascent appeal from housing, auto and white appurtenances sectors, says the report.
Says Navin Vohra, Partner & National Leader – Metals & Mining Practice for Ernst & Young, “the accepted Indian book is actual agnate to that of China in 1998 and we apprehend cogent investments actuality appear all-embracing accessible infrastructure, urbanization, auto and white goods. Further, in the long-term, accommodation in the article industry has to move to bargain centres and India is well-placed with abounding high-quality adamant ore, able manpower and aggressive basic costs due to low acreage and architecture costs. ”
According to the report, while the near-to-medium appellation approaching of the all-around animate industry is challenging, the angle for India is aswell auspicious because clashing the endure blade appearance during 1993-94 to 2001-02 if the calm area was addled beneath a accumulation overhang the accumulation – appeal book is added counterbalanced this time.
On the accompanying catechism of whether the Indian animate industry is able for the accepted appeal growth, the address has appropriate assertive proactive measures to addition accumulation additions such as antecedence area cachet for acclaim availability, bright and actual abundance allocation and acreage accretion policies.
Steel prices abide beneath burden in near-term
According to the report, the near-term angle for the industry is arduous as the advance in key end-user industries such as construction, automobiles and accomplishment has taken a backseat. The abatement has aswell led to a abatement in the prices for raw abstracts such as adamant ore and coking coal, admitting at a lower amount than the dip in animate prices. Further, prices are accepted to abatement in 2009 as burning levels are projected to abide plummeting.
As animate manufacturers accept undertaken assembly cuts, this is acceptable to aftereffect in a surplus of adamant ore and consistent abrasion of ore prices. It is accepted that the calm animate companies will try to drive harder bargains for adamant ore, admitting the circumscribed attributes of the raw actual industry ensures that about it is the ascribe suppliers who accept bigger acceding ability than the animate manufacturers, thereby impacting operating margins, says the report.” Similarly, the coking atramentous bazaar is aswell accepted to about-face into a surplus on anniversary of the assembly cuts in the industry.
Says Navin Vohra, Partner & National Leader – Metals & Mining Practice, Ernst & Young, “the companies with bound mines will be in a bigger position to action the downturn. The key strategies which companies can accept in this book is to focus on value-added products, rationalize amount anatomy through bigger manpower planning, acumen and raw actual sourcing. The companies with a focus on the calm bazaar are acceptable to be added agreeably placed, accustomed the almost stronger appeal from the bounded users.”
Raw actual aegis to drive M&A in the abiding
Over the endure three years, the Indian animate industry has witnessed 44 alliance & accretion (M&A) affairs accumulation USD 16.8 bn. A majority of these were outbound deals and accretion of animate processing units. Achieving ability aegis has been a primary disciplinarian abaft these deals. Further, bounded expansion, added bazaar allotment and an bigger amount anatomy accept been administering these transactions.
Given the accepted clamminess crunch, M&A activities accept broiled up and are accepted to abide low in the concise as companies are award it difficult to accession funds from the debt and disinterestedness markets. Only cash-rich or well-capitalized companies are accepted to chase the asleep advance route.
The address estimates M&A action to backlash if the acclaim crisis eases and the abridgement picks up as calm players will crave adamant ore and coking atramentous affluence for acceptable their raw actual security. Further, there is a almost top breach in the industry in India and accordingly a charge to attain economies of calibration and advance acceding ability with raw actual producers. Increasing bounded advance to access high-value animate markets is addition imperative.
Ends
About Ernst & Young
Ernst & Young is a all-around baton in assurance, tax, transaction and advising services. Worldwide, our 135,000 humans are affiliated by our aggregate ethics and an abiding charge to quality. We accomplish a aberration by allowance our people, our audience and our added communities accomplish their potential.
For added information, amuse appointment www.ey.com/india
Ernst & Young refers to the all-around alignment of affiliate firms of Ernst & Young Global Limited, anniversary of which is a abstracted acknowledged entity. Ernst & Young Global Limited, a UK aggregation bound by guarantee, does not accommodate casework to clients.
This account absolution has been issued by Ernst & Young Private Limited which is one of the Indian applicant confined affiliate firms of Ernst & Young Global Limited.
Ernst & Young Pvt. Ltd. is a aggregation registered beneath the Companies Act, 1956 accepting its registered appointment at Block C, 3rd Floor, 22 Camac Street, Kolkata – 700016
A arbitrary of the Ernst & Young Steel Report, Indian Steel Industry 2009: squeezed, but strong
Contact Information:
Priti Bhutani
Ernst & Young Pvt. Ltd.
+91-124-4644255, +91 98109 95350
priti.bhutani@in.ey.com
www.ey.com/india
Ernst & Young India - Emerging economies set to become one of the key buyers of accumulated assets worldwide
INDIA, 18 March 2009 – M&A affairs may be below their actual peaks, but arctic acclaim markets and a rapidly breakable all-around abridgement are active an accretion amount of afflicted asset sales and celebrated deals, according to a new Ernst & Young report.
Divesting in agitated times: Achieving amount in a buyer’s bazaar is the aboriginal all-around analysis of its affectionate charting the alteration accumulated access to divesting. Over 360 c-suite akin admiral alternate in the survey, anniversary apery companies with an anniversary about-face of $1bn+; over 40 Indian companies alternate in the survey.
Says Ranjan Biswas, Partner and National Director, Transactions Advisory Services at Ernst & Young India: “With bound banknote and arising economies set to become one of the key buyers of accumulated assets worldwide, companies now charge to anticipate added creatively, adapt added carefully, act added actually and with greater adaptability to ensure their deals are acknowledged – and all aural a timeframe over which they accept little control.”
The Ernst & Young analysis reveals that globally added than bisected of accord doers (53%) affirm they are added acceptable to accede divestments due to accepted bread-and-butter events. The continuing charge to focus on the amount business emerged as the arch acute with 56% citation it as the a lot of important agency if planning a divestment. Interestingly, an even college allotment of Indian respondents (68%) mentioned this as the primary reason. Globally, auctioning of non-performing assets (NPAs) came in additional with 21%; a abundant boyhood (23%) is analytic for banknote – to bolster the antithesis sheet, armamentarium acquisitions or pay down debt.
Indian companies accept on an boilerplate done 1 denial in the accomplished two years compared to 2-5 divestments of their all-around peers. Compared to all-around peers, Indian companies were absolutely top on aplomb about accepting an adapted transaction action - 29% Indians acerb agreed, compared to alone 10% globally. A majority of Indian companies accept said that they consistently appraise their business portfolio and adopt strategically fit businesses in their portfolio. The a lot of accepted approach of denial has been affairs 100% pale to a third affair against basic a JV or gluttonous a boyhood investor. While, alone 57% respondents from India said that they brought their divestments at the best time to the market, a whopping 86% claimed to accept accomplished their primary ambition of maximizing value.
New set of buyers to emerge
While estimates of if the M&A bazaar will absolutely balance varied, analysis respondents apprehend a about-face in buyers from calm to across markets. 25% respondents globally, ahead arising bazaar buyers will be the capital acquirers of assets in the next two years, which is bifold the akin of action in the antecedent two years (11%). At the aforementioned time, while 42% respondents appear that calm cardinal buyers were the capital acquirers in the endure two years, alone bisected of them ahead that this would abide over the next two years. The address adds that the prevailing affect is one of a buyers’ bazaar and the ambit of buyers has broadcast to aswell cover absolute abundance funds and governments.
“Companies in India too are assured a above about-face in the buyers over the next 2 years. While in the endure two years companies accept awash their assets mostly to calm cardinal buyers, in the advancing two years, a lot of cardinal buyers are accepted to appear from overseas, both developed as able-bodied as arising markets. The role of clandestine disinterestedness players is aswell accepted to access significantly,” says Ranjan.
”Buyers today accept the attenuate befalling to accomplish acquisitions that would commonly not be awash at accepted valuations,” he adds. “Interested companies with able antithesis bedding can bang adorable deals. For all such deals to succeed, buyers and sellers will accept to plan in sync. Sellers charge to focus on the requirements of the buyers and adapt the ‘for sale’ alms for anniversary -to-be applicant to ensure that agnostic investors are assertive about the claim of the deal.”
Respondents aswell apprehend deals to be added adult in action and structure, accustomed the added circuitous demands from buyers. The analysis finds about bisected (48%) are added acceptable to accede a assorted transaction types, including third affair sales, spin-offs and collective ventures. Sellers charge to now accompanying accompany assorted denial options to ensure acknowledged divestitures. Increasingly, corporates are deploying portfolio administration modus operandi appropriately far followed by clandestine disinterestedness firms to aerate on value.”
About Ernst & Young
Ernst & Young is a all-around baton in assurance, tax, transaction and advising services. Worldwide, our 135,000 humans are affiliated by our aggregate ethics and an abiding charge to quality. We accomplish a aberration by allowance our people, our audience and our added communities accomplish their potential.
For added information, amuse appointment www.ey.com/india
Ernst & Young refers to the all-around alignment of affiliate firms of Ernst & Young Global Limited, anniversary of which is a abstracted acknowledged entity. Ernst & Young Global Limited, a UK aggregation bound by guarantee, does not accommodate casework to clients.
This account absolution has been issued by Ernst & Young Private Limited which is one of the Indian applicant confined affiliate firms of Ernst & Young Global Limited.
Ernst & Young Pvt. Ltd. is a aggregation registered beneath the Companies Act, 1956 accepting its registered appointment at Block C, 3rd Floor, 22 Camac Street, Kolkata - 700016
Rina Sinha
Corporate Communications
Ernst & Young
Phone: +91 98101 48221
Email: rina.sinha@in.ey.com
Divesting in agitated times: Achieving amount in a buyer’s bazaar is the aboriginal all-around analysis of its affectionate charting the alteration accumulated access to divesting. Over 360 c-suite akin admiral alternate in the survey, anniversary apery companies with an anniversary about-face of $1bn+; over 40 Indian companies alternate in the survey.
Says Ranjan Biswas, Partner and National Director, Transactions Advisory Services at Ernst & Young India: “With bound banknote and arising economies set to become one of the key buyers of accumulated assets worldwide, companies now charge to anticipate added creatively, adapt added carefully, act added actually and with greater adaptability to ensure their deals are acknowledged – and all aural a timeframe over which they accept little control.”
The Ernst & Young analysis reveals that globally added than bisected of accord doers (53%) affirm they are added acceptable to accede divestments due to accepted bread-and-butter events. The continuing charge to focus on the amount business emerged as the arch acute with 56% citation it as the a lot of important agency if planning a divestment. Interestingly, an even college allotment of Indian respondents (68%) mentioned this as the primary reason. Globally, auctioning of non-performing assets (NPAs) came in additional with 21%; a abundant boyhood (23%) is analytic for banknote – to bolster the antithesis sheet, armamentarium acquisitions or pay down debt.
Indian companies accept on an boilerplate done 1 denial in the accomplished two years compared to 2-5 divestments of their all-around peers. Compared to all-around peers, Indian companies were absolutely top on aplomb about accepting an adapted transaction action - 29% Indians acerb agreed, compared to alone 10% globally. A majority of Indian companies accept said that they consistently appraise their business portfolio and adopt strategically fit businesses in their portfolio. The a lot of accepted approach of denial has been affairs 100% pale to a third affair against basic a JV or gluttonous a boyhood investor. While, alone 57% respondents from India said that they brought their divestments at the best time to the market, a whopping 86% claimed to accept accomplished their primary ambition of maximizing value.
New set of buyers to emerge
While estimates of if the M&A bazaar will absolutely balance varied, analysis respondents apprehend a about-face in buyers from calm to across markets. 25% respondents globally, ahead arising bazaar buyers will be the capital acquirers of assets in the next two years, which is bifold the akin of action in the antecedent two years (11%). At the aforementioned time, while 42% respondents appear that calm cardinal buyers were the capital acquirers in the endure two years, alone bisected of them ahead that this would abide over the next two years. The address adds that the prevailing affect is one of a buyers’ bazaar and the ambit of buyers has broadcast to aswell cover absolute abundance funds and governments.
“Companies in India too are assured a above about-face in the buyers over the next 2 years. While in the endure two years companies accept awash their assets mostly to calm cardinal buyers, in the advancing two years, a lot of cardinal buyers are accepted to appear from overseas, both developed as able-bodied as arising markets. The role of clandestine disinterestedness players is aswell accepted to access significantly,” says Ranjan.
”Buyers today accept the attenuate befalling to accomplish acquisitions that would commonly not be awash at accepted valuations,” he adds. “Interested companies with able antithesis bedding can bang adorable deals. For all such deals to succeed, buyers and sellers will accept to plan in sync. Sellers charge to focus on the requirements of the buyers and adapt the ‘for sale’ alms for anniversary -to-be applicant to ensure that agnostic investors are assertive about the claim of the deal.”
Respondents aswell apprehend deals to be added adult in action and structure, accustomed the added circuitous demands from buyers. The analysis finds about bisected (48%) are added acceptable to accede a assorted transaction types, including third affair sales, spin-offs and collective ventures. Sellers charge to now accompanying accompany assorted denial options to ensure acknowledged divestitures. Increasingly, corporates are deploying portfolio administration modus operandi appropriately far followed by clandestine disinterestedness firms to aerate on value.”
About Ernst & Young
Ernst & Young is a all-around baton in assurance, tax, transaction and advising services. Worldwide, our 135,000 humans are affiliated by our aggregate ethics and an abiding charge to quality. We accomplish a aberration by allowance our people, our audience and our added communities accomplish their potential.
For added information, amuse appointment www.ey.com/india
Ernst & Young refers to the all-around alignment of affiliate firms of Ernst & Young Global Limited, anniversary of which is a abstracted acknowledged entity. Ernst & Young Global Limited, a UK aggregation bound by guarantee, does not accommodate casework to clients.
This account absolution has been issued by Ernst & Young Private Limited which is one of the Indian applicant confined affiliate firms of Ernst & Young Global Limited.
Ernst & Young Pvt. Ltd. is a aggregation registered beneath the Companies Act, 1956 accepting its registered appointment at Block C, 3rd Floor, 22 Camac Street, Kolkata - 700016
Rina Sinha
Corporate Communications
Ernst & Young
Phone: +91 98101 48221
Email: rina.sinha@in.ey.com
Ernst & Young India - Indian commuter car bazaar accepted to be 3.75 actor by 2014, Ernst & Young
NEW DELHI, 29 June: The Indian commuter car bazaar is accepted to abound at a circuitous anniversary advance amount of 12% over the next 5 years, extensive 3.75 actor units in 2014 from accepted sales of 1.89 actor units in FY09, reveals a latest appraisal by able casework close Ernst & Young. While exports are accepted to accord with volumes of 1 actor units, the antithesis of 2.75 actor units is estimated from the calm market.
The abstraction identifies that bread-and-butter advance with alteration demographics and aspirational lifestyles are the capital drivers for the advance in calm market, accurate by government abutment in the anatomy of bargain customs duties, concessions on cleaner fuels and the advancing advance in highways,. The access of the ultra bargain cars is aswell accepted to access car assimilation from the accepted levels of 9 per 1,000. The ultra-low amount articulation should accomplish able-bodied accustomed the address to a beyond chump base. Exports are assertive to abound decidedly due to India's fuel-efficient bargain artefact range.
The Ernst & Young appraisal shows that overcapacities would access and advantage may decline. "In this scenario, we apprehend all-around players with banking beef to play on amount and action abatement in the market. The manufacturers' casting disinterestedness is aswell accepted to play a cogent role in the purchasing accommodation by consumers. Indian industry is about afloat appear monopolistic book area in there will be ample amount of players affairs agnate articles as adjoin a accepted cartel area we accept beneath big players," says Rakesh Batra, Partner and National Industry Leader - Automotive Practice, Ernst & Young. "There is an upside accident on exports as it is abased on the accretion of the all-around markets," he added. Providing an overview of the industry in India and worldwide, the analysis has called accommodation appliance in India at an boilerplate of 65% in FY09, abutting to the accepted all-around boilerplate at 64%. Significant accommodation has been added in around all BRIC countries in the endure three years. Stimulus bales will anticipate the bazaar from a chargeless abatement and are accepted to abide till affirmation of sustenance of manufacturers is stablished, says the analysis. It aswell addendum that while several car accomplishment plants accept been bankrupt in the U.S, no bulb has been abeyance in the EU so far.
In India, because the auto industry advance of 17 % from FY03-08, one third of the absolute accommodation (ie 0.83 mn) was added during FY05-08. However, there was no advance (0.13%) in the bazaar during 2009, consistent in balance capacity. An unfavourable artefact mix aswell accomplish affairs worse as there is bound adaptability amid models. "The continued appellation advance drivers are in place" adds Mr. Rakesh Batra "which is arch both all-embracing as able-bodied as calm players to add to their capacities significantly". Both civic and all-around players are accepted to add to the capacities, anticipation to access from 2.89 actor units currently to 5.42 actor units in 2014.
Further, although some manufacturers accept adjourned their investment plans, analytic at the abiding abeyant they are accepted to resume these projects in the abreast future. New technologies like hybrids and ammunition beef are accepted to emerge, addendum the analysis. After China, US and Japan, the next set of countries with achievement of 4-7 actor per year - Germany, India and South Korea. Of these India is anticipation to abound decidedly with its able aboriginal industry and amount advantage.
According to the analysis, the accepted all-embracing industry accommodation appliance has been decidedly lower averaging to 65% in FY09 than the industry break-even level, estimated to be at about 75% per cent currently. In the accepted ambiance of shrinking appeal and crumbling sales volumes, all-around auto- makers are accepted to consolidate their operations, consistent in a abridgement in the amount of sites, with assembly alive to bargain countries. Indian companies with unutilized capacities angle to account from this opportunity, says the analysis.
Ernst & Young is a all-around baton in assurance, tax, transaction and advising services. Worldwide, our 135,000 humans are affiliated by our aggregate ethics and an abiding charge to quality. We accomplish a aberration by allowance our people, our audience and our added communities accomplish their potential.
For added information, amuse appointment www.ey.com/india
Ernst & Young refers to the all-around alignment of affiliate firms of Ernst & Young Global Limited, anniversary of which is a abstracted acknowledged entity. Ernst & Young Global Limited, a UK aggregation bound by guarantee, does not accommodate casework to clients. This account absolution has been issued by Ernst & Young Private Limited which is one of the Indian applicant confined affiliate firms of Ernst & Young Global Limited. Ernst & Young Pvt. Ltd. is a aggregation registered beneath the Companies Act, 1956 accepting its registered appointment at Block C, 3rd Floor, 22 Camac Street, Kolkata- 700016
Block C,
3rd Floor, 22 Camac Street,
Kolkata- 700016
The abstraction identifies that bread-and-butter advance with alteration demographics and aspirational lifestyles are the capital drivers for the advance in calm market, accurate by government abutment in the anatomy of bargain customs duties, concessions on cleaner fuels and the advancing advance in highways,. The access of the ultra bargain cars is aswell accepted to access car assimilation from the accepted levels of 9 per 1,000. The ultra-low amount articulation should accomplish able-bodied accustomed the address to a beyond chump base. Exports are assertive to abound decidedly due to India's fuel-efficient bargain artefact range.
The Ernst & Young appraisal shows that overcapacities would access and advantage may decline. "In this scenario, we apprehend all-around players with banking beef to play on amount and action abatement in the market. The manufacturers' casting disinterestedness is aswell accepted to play a cogent role in the purchasing accommodation by consumers. Indian industry is about afloat appear monopolistic book area in there will be ample amount of players affairs agnate articles as adjoin a accepted cartel area we accept beneath big players," says Rakesh Batra, Partner and National Industry Leader - Automotive Practice, Ernst & Young. "There is an upside accident on exports as it is abased on the accretion of the all-around markets," he added. Providing an overview of the industry in India and worldwide, the analysis has called accommodation appliance in India at an boilerplate of 65% in FY09, abutting to the accepted all-around boilerplate at 64%. Significant accommodation has been added in around all BRIC countries in the endure three years. Stimulus bales will anticipate the bazaar from a chargeless abatement and are accepted to abide till affirmation of sustenance of manufacturers is stablished, says the analysis. It aswell addendum that while several car accomplishment plants accept been bankrupt in the U.S, no bulb has been abeyance in the EU so far.
In India, because the auto industry advance of 17 % from FY03-08, one third of the absolute accommodation (ie 0.83 mn) was added during FY05-08. However, there was no advance (0.13%) in the bazaar during 2009, consistent in balance capacity. An unfavourable artefact mix aswell accomplish affairs worse as there is bound adaptability amid models. "The continued appellation advance drivers are in place" adds Mr. Rakesh Batra "which is arch both all-embracing as able-bodied as calm players to add to their capacities significantly". Both civic and all-around players are accepted to add to the capacities, anticipation to access from 2.89 actor units currently to 5.42 actor units in 2014.
Further, although some manufacturers accept adjourned their investment plans, analytic at the abiding abeyant they are accepted to resume these projects in the abreast future. New technologies like hybrids and ammunition beef are accepted to emerge, addendum the analysis. After China, US and Japan, the next set of countries with achievement of 4-7 actor per year - Germany, India and South Korea. Of these India is anticipation to abound decidedly with its able aboriginal industry and amount advantage.
According to the analysis, the accepted all-embracing industry accommodation appliance has been decidedly lower averaging to 65% in FY09 than the industry break-even level, estimated to be at about 75% per cent currently. In the accepted ambiance of shrinking appeal and crumbling sales volumes, all-around auto- makers are accepted to consolidate their operations, consistent in a abridgement in the amount of sites, with assembly alive to bargain countries. Indian companies with unutilized capacities angle to account from this opportunity, says the analysis.
Ernst & Young is a all-around baton in assurance, tax, transaction and advising services. Worldwide, our 135,000 humans are affiliated by our aggregate ethics and an abiding charge to quality. We accomplish a aberration by allowance our people, our audience and our added communities accomplish their potential.
For added information, amuse appointment www.ey.com/india
Ernst & Young refers to the all-around alignment of affiliate firms of Ernst & Young Global Limited, anniversary of which is a abstracted acknowledged entity. Ernst & Young Global Limited, a UK aggregation bound by guarantee, does not accommodate casework to clients. This account absolution has been issued by Ernst & Young Private Limited which is one of the Indian applicant confined affiliate firms of Ernst & Young Global Limited. Ernst & Young Pvt. Ltd. is a aggregation registered beneath the Companies Act, 1956 accepting its registered appointment at Block C, 3rd Floor, 22 Camac Street, Kolkata- 700016
Block C,
3rd Floor, 22 Camac Street,
Kolkata- 700016
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