Duff & Phelps Publishes Industry Multiples India Report for Q1 2019

Duff & Phelps Industry Multiples Report - Seventh Edition

Duff & Phelps, the global advisor that protects, restores and maximizes value for clients, today launched the seventh edition of its Industry Multiples India Report for the quarter ended March 2019. The report provides an overview of market multiples of companies in 22 major industries in the S&P BSE 500 Index.

Varun Gupta, Managing Director, Valuation Advisory Services APAC, Duff & Phelps, commented, "The equity market experienced a moderate increase during this quarter, bolstered by hopes of a stable government and dragged down by the increase in crude oil prices. We observed that the P/E multiples of six out of 22 industries have improved in the first quarter of 2019."

Report highlights include:

• Banks experienced the largest P/E expansion of around 55% due to capital infusion in public sector banks thereby improving credit growth and asset quality.

• Real estate stock prices were impacted positively by about 23% because of Embassy REIT's recent listing. • Additionally, reduction in the GST rates of a few goods and services has led to an improvement in the consumer durables space.

• The healthcare, internet and software sectors witnessed a turnaround from last quarter's decline because of an optimistic demand outlook. Download the report here.