India Inc reinforces faith of investors
All the other 63 broad industry categories under which the FE 500 had been clubbed had positive growth to show. As always, aggregates tend to conceal some real good or bad performances. Thus, even though auto ancillaries showed good income growth of 23.34%, Rane Holdings grew at the higher rate of 42.84%. The group average was also weighed up by the 25.14% income. The net profit of Subros, one of the biggest auto ancillaries companies, increased by 58.80% during 2009-10.
Similarly, engineering industry saw 15.02% per cent income growth. But at least three engineering companies namely Engineers (I), Tecpro Systems, and McNally Bharat Engg. reported more than 23% increases. The net profit of the engineering group of companies increased by 36.44% to Rs 6,668 crore during 2009-10.
Among the industries studied, the best performers of the year were construction, automobiles-LCVs/ HCVs/passenger cars, cement, entertainment/electronic media software, computer-software-mega, pharmaceutical bulk drugs and formulations and tyres.
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