Industrial Update – Newsletter – July 2024
IMAP’s Industrials group brings you this monthly update with a focus on latest news, transactions and interesting snippets from the Industrials domain in India
The civic waste management sector in India has witnessed significant growth in recent years. Increasing population, rapid urbanization and higher consumption have resulted in an increase in the amount of waste generated.
Strong Govt. push in cleanliness and sanitation through initiatives like the Swachh Bharat Mission (Clean India Mission) with total outlay of over ₹US$ 1.5 billion in FY24 and other schemes/ initiatives such as Amrut, Smart City, Piped Water for Rural Area
Breakup of $3 bn. municipal waste market:
•Recycling of dry waste and construction material: US$ 1.6 billion+/p.a. opportunity
•Conversion of biodegradable waste or sludge to compost or biogas: US$ 850 million+/p.a. opportunity
•Treatment of wastewater: US$ 400 million+/p.a. opportunity
•Machinery Manufacturers: for waste collection, transportation and disposal
Key Players
Some recent transactions
| Jul’24 | Aarav Unmanned Systems | The drone manufacturer raised ~₹125 Cr. in a fundraise led by 360 ONE & Navam Capital |
| Jul’24 | Ismartu India | Dixon Technologies acquired a 56% stake in the EMS manufacturer of consumer electronics |
| Jul’24 | Arya Collateral Warehousing | Agri warehousing & e-commerce solution provider raised ~₹134Cr. in a fundraise led by Quona Capital |
| Jul’24 | Omkar Chemicals | Adani Wilmar acquired a 67% stake in the specialty chemicals manufacturer |
| Jul’24 | India Cements | Ultratech Cements acquired a ~33% stake in the cement manufacturer for ₹3,954 Cr. |
| Jul’24 | Matter Motors | The EV 2Ws manufacturer raised ~₹300 Cr. in a fundraise led by Capital 2B |
Recent News
- Tata group inked an agreement with Assam Government to establish their ₹27,000 Cr. (US$ 3 bn+) semiconductor plant
- GOI allocated ₹1.05 Lakh Cr. (US$ 12.8 bn) for domestic capital procurement for FY24 to further increase the “Atmanirbhar” agenda in the defence industry
- GOI slashed Basic Custom Duties (BCD) on mobiles, chargers, and mobile PCBA from 20% to 15%; BCD has also been increased for PCBA for telecom industry giving a boost to Indian manufacturers.
- India’s manufacturing PMI grew to 58.5 in June from 58.3 in the previous month; a PMI value above 50 indicates growth
- The Indian budget also saw the announcement of ₹1,000 Cr. Venture fund to give a boost to promote space technology in India
- China GDP in Q2 was down to 4.7% compared to 5.3% in Q1 2024 amid a persistent property downturn and weak domestic demand
IMAP Industrials Index & Valuation of sub-segments
Commodity Prices Index
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