India Rich List: Biggest Gainers and Losers
Image: Dinesh Krishnan
+ $1.17 bln (+185.71%)
(Moved 47 places in the ranking)
Habil Khorakiwala and his generic drugs company Wockhardt have led the surge of the Indian pharma sector in the past year. Thanks to the astounding success of his US business, which for the first time was the largest revenue generator across the organisation with a 41 percent (consolidated) share, he has seen Wockhardt’s stock in India more than treble to a record high of Rs 1,500. Following investments in R&D and crucial drug approvals, US revenues saw seven successive quarters of growth and grew 78 percent to $351 million.
Qimat Rai Gupta
+ $570 mln (+144.30%)
(Moved 34 places)
Aggressive advertising, expansion of distribution network and increase in product range ensured Qimat Rai Gupta’s Havells India a great year. The stock is up 91 percent to Rs 650 following the settling of a dispute with Osram Sylvania over jurisdictional ownership of the Sylvania brand, with Havells India set to receive $38 million. Plans to open 200 new Havells Galaxy stores by the end of this financial year to add to the current 169 have also been confirmed.
Benu Gopal Bangur
+ $850 mln (+100%)
(Moved 30 places)
All of India’s major cement manufacturers’ stocks benefitted from the diesel price hike, but Benu Gopal Bangur’s Shree Cement grew due to more solid reasons. An improvement in EBITDA margins at 32 percent of the revenue was led by an increase in its capacity to 90 percent currently from 70 percent last year. The company was also boosted by its power division, which dispatched 6,171 lakh units this quarter, compared to just 1,600 lakh units last year—a 272 percent growth in capacity.
+ $910 mln (+65.47%)
(Moved 10 places)
Ajay Kalsi cashed in on good numbers from Indus Gas. Year on year, its revenues grew 209.13 percent from $2.19 million to $6.76 million, while a net loss of $2.42 million was replaced by a net profit of $1.36 million. The company is trading on the London Stock Exchange for £10, up from £6 a year ago. “The company has experienced significant success over the last year, with good production and successful drilling of production and appraisal wells,” said Chairman Marc Holtzman.
+ $310 mln (+62%)
(Moved 18 places)
Consumer goods maker Bajaj Corp has propelled Shishir Bajaj up the rich list. Trading at Rs 100 a year ago, strong growth from brands like Bajaj Almond Drop hair oil—which is up 27 percent from a year ago to Rs 136 crore in the July-September period—have seen the stock rise 80 percent to highs of Rs 188 this month. It was buoyed by a second quarter net profit increase of 34 percent year-on-year to Rs 38 crore, which sent shares up over 2 percent in a single afternoon’s trading.