Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

A recent report by <keyword id="23201114" type="General" weightage="20" keywordseo="Centrum-Institutional-Research" source="keywords" meta.keywordsubtype="org" meta.entityname="Centrum Institutional Research" meta.hostid="261" meta.entityid="Centrum Institutional Research">Centrum Institutional Research</keyword> reveals a sharp rise in the number of <keyword id="21365016" type="General" weightage="100" keywordseo="wealthy-Indians" source="keywords">wealthy Indians</keyword> over the past five years. The data highlights that the number of individuals earning more than Rs 10 crore annually has surged by 63%, bringing the total count to approximately 31,800. Meanwhile, those earning over Rs 5 crore per annum now number 58,200, marking a significant 49% increase. <h2>Wealth growth across <keyword id="23201527" type="General" weightage="20" keywordseo="income-tiers" source="keywords">income tiers</keyword></h2>The report not only tracks the increase in high earners but also highlights growth among those earning above Rs 50 lakh annually. Over the last five years, this group has expanded by 25%, with nearly 10 lakh individuals now in this income bracket. In terms of cumulative income, the report showcases rapid growth. The income of individuals earning over Rs 10 crore annually grew at a compound annual growth rate (CAGR) of 121% between FY19 and FY24, reaching a staggering Rs 38 lakh crore. Those earning more than Rs 5 crore annually saw their collective income grow by 106% CAGR, amounting to Rs 40 lakh crore. Similarly, the income of those earning over Rs 50 lakh per annum increased by 64%, totaling Rs 49 lakh crore over the same period. <div type="Article" hostid="261" msid="113328057" title="The illegal maneuvers the rich use to get richer" mstype="2" mssubtype="0"></div>The Centrum report also forecasts significant growth for India's <keyword id="20301791" type="General" weightage="20" keywordseo="High-Net-Worth-Individuals" source="keywords">High Net Worth Individuals</keyword> (HNI) and <keyword id="21662893" type="General" weightage="20" keywordseo="Ultra-High-Net-Worth-Individuals" source="keywords">Ultra High Net Worth Individuals</keyword> (UHNI). By 2028, their combined financial assets are expected to rise from USD 1.2 trillion in 2023 to USD 2.2 trillion, driven by an annual growth rate of 13-14% over the period from 2023 to 2028. The <keyword id="23201526" type="General" weightage="20" keywordseo="mass-affluent-market" source="keywords">mass affluent market</keyword> is also projected to grow in early double digits during this time. <h2>A gap in professional <keyword id="20074812" type="General" weightage="20" keywordseo="wealth-management" source="keywords">wealth management</keyword></h2>While the wealth of India's affluent is growing rapidly, the report highlights a key difference between India and advanced economies: only 15% of financial wealth in India is professionally managed, compared to 75% in more developed markets. This gap suggests a significant opportunity for the professional wealth management sector as India’s wealthy population continues to grow. (With inputs from ANI)

Individuals earning over Rs 10 cr rise by 63% in India; financial assets of high net worth individuals to nearly double by 2028

<ul><li>India’s <keyword id="19955404" type="General" weightage="20" keywordseo="finance" source="keywords">finance</keyword> minister revises FY24’s fiscal deficit targets to 5.8% of GDP from 5.9% fixed earlier.</li><li>The revenue receipts at ₹30.03 lakh crore for FY24 are expected to be higher than the Budget Estimate.</li><li>Most economists had said that the government is on track to achieve the fiscal deficit target. </li></ul>The biggest takeaway from the Finance Minister Nirmala Sitharaman’s <keyword id="19906106" type="General" weightage="20" keywordseo="interim-budget" source="keywords">interim Budget</keyword> announcement is the government’s fiscal consolidation program. While the current year’s fiscal deficit has been revised to 5.8% of GDP from 5.9% estimated earlier, the big surprise is next year’s target. Finance minister announced that the fiscal deficit target for FY25 was set at 5.1% of GDP. “The revenue receipts at ₹30.03 lakh crore are expected to be higher than the Budget Estimate, reflecting strong growth momentum and formalization in the economy. The Revised Estimate of the fiscal deficit is 5.8% of GDP, improving on the Budget Estimate, notwithstanding moderation in the nominal growth estimates,” she said in her speech. She said that the government will continue on the path of fiscal consolidation, to reduce the fiscal deficit below 4.5% by 2025-26. The gross and net market borrowings through dated securities during FY25 are estimated at ₹14.13 and ₹11.75 lakh crore respectively. “Both will be less than that in 2023-24. Now that the private investments are happening at scale, the lower borrowings by the Central Government will facilitate larger availability of credit for the private sector,” FM added. She also set the FY25’s divestment target at ₹50,000 crore. Bond markets cheer The bond markets have been cheering the move. This led to a significant drop in India's 10-year yield by 100 basis points to 7.04%. Experts see further drop in yields due to flows from foreign institutional investors and the government’s move increases its chances of a possible ratings upgrade. “The finance ministry is clearly aiming for rating upgrade with aggressive fiscal deficit reduction target as we are at investment grade rating,” said Chirag Mehta, CIO of Quantum AMC. Gaurav Dua, head of capital market strategy, Sharekhan by BNP Paribas too said that the fiscal deficit target of 5.1% for FY25 is good news for the markets. “Bond markets are celebrating the same, with a rally in bond prices and appreciation in INR against USD,” he added. The government sticking to the path of fiscal consolidation is good news for foreign investors. A few experts had also worried that this pre-election budget would have populist measures. Lack of such measures seems to have enthused the experts. “The FM is sticking to fiscal responsibility with a lower fiscal deficit which could be music to the ears of foreign investors and impending $25 billion bond inclusion in June as lower budget deficits and pared borrowings will help bring down yields. It could possibly open the door for a ratings upgrade,” said Pradeep Gupta, Co-founder &amp; Vice-chairman, Anand Rathi Group. As borrowings and liquidity conditions ease, the markets can also expect a possible interest rate cut in the coming financial year. “Lesser borrowing by the government will be beneficial for the private sector and households as it will put more money on the table for them. It will also pave the way for RBI to start cutting rates sooner compared to other economies,” said Apurva Sheth, head of market perspectives &amp; research at Samco Securities.

With FY25 fiscal deficit target at 5.1%, FM is gunning for ratings upgrade say experts

Four months after giving an in-principle nod to <keyword id="6010758" type="General" weightage="20" keywordseo="centrum-financial" source="Orion">Centrum Financial</keyword> Services and <keyword id="7349800" type="General" weightage="20" keywordseo="bharatpe" source="Orion">BharatPe</keyword> to establish a <keyword id="6382595" type="General" weightage="20" keywordseo="small-finance-bANK" source="Orion">small finance bank</keyword>, the <keyword id="30067" type="General" weightage="20" keywordseo="RBI" source="Orion">RBI</keyword> on Tuesday granted a licence to the consortium that had expressed interest to take over the crisis-impacted Punjab and Maharashtra Cooperative (PMC) Bank. In June, the Reserve Bank had given the in-principle approval for the SFB licence to the consortium against its interest to take over the PMC Bank, a city-based cooperative lender under restrictions for more than two years after a massive over Rs 7,000-crore fraud at the lender. In a joint statement, <keyword id="59288" type="General" weightage="20" keywordseo="centrum" source="Orion">Centrum</keyword> and BharatPe, which are uniting equally to build the SFB, said the RBI's final approval has been received earlier in the day, and this is the first time in six years that the central bank has given a banking licence. Earlier in the day, BharatPe announced that former SBI veteran Rajnish Kumar is joining its board as the chairman and will be playing the role of a mentor for the fintech's team on the path to forming an SFB. The new SFB has been incorporated as "Unity Small Finance Bank" and the business model is "one of collaboration and open architecture", uniting all its stakeholders to deliver a seamless digital experience, the statement said. However, details about how the amalgamation with Punjab and Maharashtra Cooperative (PMC) Bank will happen from an operational perspective were not known immediately. The statement said Centrum's MSME and microfinance businesses shall be merged into Unity Small Finance Bank. "We are delighted to receive the licence and excited to partner with BharatPe to create this new age bank, with a strong team. We aspire to be India's first Digital Bank," Centrum Group's chairman Jaspal Bindra said. "We will work tirelessly and smartly to capture this opportunity and build India's first truly Digital Bank ground up," Ashneer Grover, the co-Founder and managing director of BharatPe, said. While granting the in-principle nod on June 18, the RBI had said that the approval has been accorded in specific pursuance to the Centrum Financial Services' February 1 offer expressing interest to take over PMC Bank. SEE ALSO <a href="https://www.businessinsider.in/india/news/the-depth-of-indias-power-crisis-22-power-plants-shut-govt-says-coal-crisis-overblown/articleshow/86969860.cms" data-type="tilCustomLink">The depth of India's power crisis</a> <a href="https://www.businessinsider.in/stock-market/news/from-home-sales-and-jewellery-to-power-consumption-these-sectors-are-back-to-pre-pandemic-levels/articleshow/86976154.cms" data-type="tilCustomLink">From home sales and jewellery to power consumption, these are all the sectors that are back to pre-pandemic levels</a> <a href="https://www.businessinsider.in/careers/news/if-you-have-these-digital-skills-then-you-can-expect-a-double-digit-salary-hike-next-year/articleshow/86970342.cms" data-type="tilCustomLink">If you have these digital skills, then you can expect a double digit salary hike next year</a>

Three-year-old BharatPe and Centrum gets RBI nod to set up a small finance bank

<ul><li>Price cuts taken in mass segments will erase pricing-led growth seen in FMCG companies.</li><li>Few analysts are confident that price cuts will add to volume growth in Q2.</li><li>Without a meaningful rural recovery, volume growth will remain slow. </li></ul>It might be a slow second quarter for FMCG companies with hazy volume recovery and tapering raw material effects. The rise of new and local players have been eating into the business of top FMCG players. And, they chose to <a href="https://www.businessinsider.in/business/news/soap-opera-fmcg-players-kick-off-price-war-to-bring-back-whats-lost/articleshow/103657469.cms">take price cuts in mass categories </a> during the quarter. Analysts are divided on how much price cuts will add to volume growth. A report by Centrum said that price cuts pushing are primary volumes but off-take lags. The demand for packaged foods is rising but hair oils, toothpaste categories saw falling volumes. “Selling prices have been rationalised given the drop in commodity costs but there has not been a commensurate increase in volumes yet,” said J M Financial. The pricing-led growth in FMCG companies is now a thing of the past. Without significant volume recovery, revenues are ecpected to remain subdued this quarter. “We expect low single digit volume growth and low-to-mid single-digit value growth for most FMCG companies, with the tapering of pricing growth due to price cuts and/or anniversarization of price hikes. The underlying rural demand remains subdued. Uptick, if any, would be optical off a low base,” said a report by Kotak Institutional Equities. Analysts believe that without a meaningful recovery in rural demand which is yet to pick up, volume recovery will remain slow. Even tapering inflation during the quarter has not improved the rural consumer sentiment due to unseasonal rains. Moreso, the festive consumption of discretionary items also comes with a lag this year due to the ‘Adhik Mas’ effect. Raw material benefits slip On the other hand, the margin growth seen last quarter due to lower raw materials will also taper off. The raw material index has moved up by 8-9% over the last three months. Between July and September, crude oil prices rallied by 20%, and commodities will not be as benign as they were in Q1. On a year-on-year basis however their costs will be lower, adding to margins due a favourable basis. “A favourable base would still drive strong year on year gross profit margin expansion and earnings for September quarter, but some of the margin gains would be in the base soon especially given the recent uptick in raw material prices,” said J M Financial. The stress of rising competition will also eat into margins in more ways than price cuts. Players will continue to ‘normalise’ brand-building investments that were run down during the hyper-inflationary phase in FY23. “Most companies have indicated that a large part of gross margin savings will be invested behind brands. Hence, operating margin expansion will be lower compared to gross margin expansion,” said Sharekhan. Investors will watch out for management commentary on how volume uptick in the second half of the year. And a picture on when rural India will see a full-fledged recovery. <div type="javascript" title="Custom" contenttype="Text"><cdata><![CDATA[]]></cdata></div>

Price cuts might not bring in volume growth for FMCG majors in Q2 say analysts

<ul><li>The rise in cheese and wheat prices affected the Q4 profits of companies that operate <keyword id="58553" type="General" weightage="20" keywordseo="pizza-hut" source="Orion">Pizza Hut</keyword>, Domino’s and <keyword id="6376241" type="General" weightage="20" keywordseo="kfc" source="Orion">KFC</keyword>. </li><li>The companies say that consumer sentiment is weak, and do not see it changing in the near term either. </li><li>QSR companies are working on value products and have ruled out price hikes, especially in the pizza category. </li></ul>Indian quick service restaurant (QSR) operators – <keyword id="13306" type="General" weightage="80" keywordseo="devyani" source="Orion">Devyani</keyword> International and <keyword id="95677" type="General" weightage="80" keywordseo="jubilant-foodworks" source="Orion">Jubilant Foodworks</keyword> both reported a year-on-year (YoY) fall in net profit in the fourth quarter, hurt by a rise in input costs. In the last one year, prices of the key ingredients of pizzas and burgers i.e. cheese and flour went up by 40% and 21%, respectively. The companies operate franchises of Pizza Hut, KFC, Domino’s, Costa Coffee and more. While KFC was able to raise prices marginally by 3.5% during the year to pass on some of the rise in poultry prices, pizza, which is a high-value category, leaves little room for price hikes. Operators of Pizza Hut and Domino’s have consciously not taken a price hike in the pizza category, and don’t see them going up in the next few quarters either. In addition to raw material inflation, the operators’ ability to increase prices during the same period were also low as Indians cut back on their discretionary spending. While Q4 is a seasonally weak quarter for QSRs due to the effect of festivals like Navratri and Ramadan – when people undertake fasting, the consumer sentiment is also weak, say analysts. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q4 Net Profit </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">YoY change </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q4 Revenue </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">YoY change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jubilant Foodworks </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹28.54 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-70% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,269.85 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Devyani International </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹59.87 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-21% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹754.97 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">27.8% </td></tr></tbody></table> Source: PTI Pizzas harder hit than burgers Devyani’s same-store sales growth (SSSG) — which measures the sales of its stores that existed for over a year — went up a marginal 2% for KFC. For Pizza Hut, SSSG declined by 3.2% year-on-year, as per a research report by Nuvama. <keyword id="3742694" type="General" weightage="80" keywordseo="sapphire-foods" source="Orion">Sapphire Foods</keyword>, which also operates Pizza Hut and KFC, showed similar growth in Q4. SSSG for its KFC outlets grew 2%, while Pizza Hut outlets saw it decline by 4%. The management has also guided for a tough year ahead in terms of growth. “Management expects 5-7% SSSG for Pizza Hut over next FY25-28 while FY24 would be challenging. Management expects Pizza Hut restaurant EBITDA margin would be in the range of 10-11% if SSSG stays positive,” says a Centrum report on Sapphire Foods. EBITDA refers to earnings before interest, taxes, depreciation and amortisation. The commentary from Jubilant Foodworks’ management is not encouraging either. “As per JFL, from a consumer sentiment perspective, things won’t change anytime soon,” said a Nuvama report. As the company expects <keyword id="17449721" type="General" weightage="20" keywordseo="cheese-prices" source="Orion">cheese prices</keyword> to remain high in the coming future, it is working on a value range of products to tide over the dual impact of rising input costs and weakening sentiment. “The decline in average order value (AOV) is not driven by value launches but by inflation. This gives the company confidence that once sentiments improve, there will be natural up trending,” said Nuvama. Vijay Jain, the chief financial officer of Sapphire Foods, hopes for a recovery in the next one year. “While the demand conditions have impacted those transaction growth, we believe we are at the bottom of it. Hopefully, we believe that over the next 12 months, we should start seeing some small amount of recoveries where we can gain our restaurant EBITDA margins back up by a few basis points, if not more,” he said on an earnings call. Long-term opportunities seen In addition to these pressures, local competition who offer aggressive discounting and cannibalisation is also affecting the sales of high-value products across the QSR segment. Yet, analysts see all these factors only as short-term pain. “We believe there are strong long-term opportunities in QSR and Jubilant Foodworks with its moats is poised to take advantage of the same. After a steep stock price correction of around 25% from its peak, valuations appear reasonable,” says Motilal Oswal, reiterating its ‘Buy’ rating on Jubilant stock. A Nuvama report on Jubilant also hopes that its SSSG will improve as urban demand sentiment improves. Devyani is seeing a marginal improvement in demand over the last 45 days, the research firm says, adding that initial signs say that inflation is stabilising. Nuvama’s medium-to-long term outlook for Devyani’s SSSG is 5-6%. “We like online players such as Swiggy, Zomato and soon to enter Amazon, and see them positively expanding the overall dining-out and ordering market. Also, while promotional and marketing spends will continue to remain elevated, we do not see that denting JFL’s margins,” it said. Centrum says that Sapphire Foods has reworked its strategy to fit the improvement in dine-ins as opposed to delivered sales. “With strong management, besides sharp improvement in its execution capabilities, we expect turnaround in SF’s performance. However weak demand, incremental competition in chicken QSR, and rising inflation in chicken/dairy pose short-term challenges in our view,” says Centrum. Although the post-pandemic boom effects have been vanishing from many discretionary items, analysts believe that there is value in the expansion strategies that many QSR players have adopted, especially in the long term.

You Searched For "centrum financial" and got 5 results

Individuals earning over Rs 10 cr rise by 63% in India; financial assets of high net worth individuals to nearly double by 2028

BI India Bureau

With FY25 fiscal deficit target at 5.1%, FM is gunning for ratings upgrade say experts

BI India Bureau

Three-year-old BharatPe and Centrum gets RBI nod to set up a small finance bank

Kritti Bhalla

Price cuts might not bring in volume growth for FMCG majors in Q2 say analysts

Katya Naidu

Cheese burst: Quick service restaurants see muted growth ahead

Katya Naidu

Popular Keywords

Buying Guides