In terms of consumer usage, most appliance categories in India are under-penetrated, leaving notable headroom for growth. However, the competitive landscape in durables is characterised by high organised penetration (75%+).
HDFC’s buying out Apollo's stake in Apollo Munich (fourth largest private health insurer) is expected to scale up its general insurance business, making it second largest private health insurer (post merger with HDFC ERGO).
Borrower leverage in some segments like salaried personal loan and professional loans saw 15-25% increase after 2-year of disbursal. Management said that the leverage is higher in the top 15 cities and reduces as they penetra
Standalone domestic business grew by 11.7% y-o-y led by 7% y-o-y volume growth in Q4FY19. Given the backdrop of slowdown in rural growth, we believe that growth trajectory is steady, also helped by market share gains, distrib