Market capitalisation of listed Central Public Sector Enterprises (CPSEs) more than doubled in Fiscal Year 2024-25 as compared to Fiscal Year 2023-24, the latest edition of Public Enterprises Survey published on Thursday showed.
Market capitalisation is the aggregate value of a company’s outstanding shares of stock. It is calculated by multiplying the current market price of shares by the total number of outstanding shares.
The report, prepared by the Public Enterprises Department of Finance Ministry, also showed that while net profit of all profit making CPSEs rose by over 38 per cent, losses of loss-making CPSEs came down by over 27 per cent. The survey presented the picture of 448 CPSEs which included 272 Operating CPSEs. It provided essential statistical data for all CPSEs from various perspectives by segregating these enterprises into various sectors such as Agriculture, Mining & Exploration, Manufacturing, Processing & Generation and Services. The Sectors were further divided into Cognates, which were 20 in number.
According to the report, there were 66 CPSEs, listed on the Stock Exchanges as on March 31, 2024, as against 63 at the end of March 31, 2023. Market Capitalisation (M-cap) of 66 companies was over Rs 37 lakh crore while it was Rs 16.85 lakh crore as on March 31, 2023 of 63 CPSEs, which means an increase of over 121 per cent. Major contributors of increase in M-Cap are NTPC Ltd., Oil & Natural Gas Corporation Ltd., Hindustan Aeronautics Ltd., Coal India Ltd. and Indian Railway Finance Corporation Ltd.
Overall Net Profit of operating CPSEs rose to ₹3.22 lakh crore in FY24 as against ₹2.18 lakh crore in FY23 showing an increase of over 47 per cent. A major proportion of increase in profit is contributed by Petroleum (Refinery & Marketing) cognate group, where it increased to ₹0.89 lakh crore as against Rs 0.11 lakh crore.
“Within the Petroleum (Refinery & Marketing) cognate group, the major contribution towards increase in Overall Net Profit is contributed by Indian Oil Corporation Ltd. (₹0.31 lakh crore). The profitability of Petroleum (Refinery & Marketing) cognate group has impacted the overall profitability,” the survey said.
Loss-incurring CPSEs
Net Loss of loss-incurring CPSEs was s ₹0.21 lakh crore as against ₹0.29 lakh crore showing a decrease of over 27 per cent. Major loss incurring CPSEs are Bharat Sanchar Nigam Ltd, Rashtriya Ispat Nigam Ltd, Mahanagar Telephone Nigam Ltd, Bharat Petro Resources Ltd NMDC Steel Ltd. “Hindustan Petroleum Corporation Ltd. converted from loss of ₹0.15 lakh crore as against ₹0.09 lakh crore to profit of ₹0.15 Lakh crores in FY 2023-24, while Bharat Sanchar Nigam Ltd was able to reduce the loss from ₹0.08 lakh crore in FY 2022-23 to ₹0.05 lakh crore in FY 2023-24,” the report said.
Contribution to Central Exchequer (CCE) of all CPSEs by way of excise duty, custom duty, GST, corporation tax, interest on Central Government loans, dividend, and other duties and taxes stood at ₹4.85 lakh crore in FY 24 as against ₹4.58 lakh crore in FY 23, showing an increase of around 6 per cent.
Among the components of CCE, Excise duty is the highest component which account for 46 per cent in FY 2023-24. The increase in CCE is mainly due to increase in Corporation tax from ₹0.56 lakh crore (in FY 2022-23) to ₹0.81 lakh crore (in FY 2023- 24). Top five CPSEs contributing to Central Exchequer are Indian Oil Corporation Ltd, Bharat Petroleum Corporation Ltd, Hindustan Petroleum Corporation Ltd, Oil & Natural Gas Corporation Ltd and Mangalore Refinery and Petrochemicals Ltd.
