
The market capitalisation of listed Central Public Sector Enterprises (CPSEs) has more than doubled in Fiscal Year 2024-25 compared to the previous year, according to the latest Public Enterprises Survey released on Thursday. The survey, compiled by the Public Enterprises Department of the Finance Ministry, highlights significant growth in both the market value and financial performance of CPSEs.
Parameters | 2022-23 (₹ lakh crore) | 2023-24 (₹ lakh crore) | Growth (%) |
---|---|---|---|
Net profit of profit-making CPSEs | 2.47 | 3.43 | 38.66 |
Net loss of loss-incurring CPSEs | 0.29 | 0.21 | (-) 27.39 |
Total gross revenue | 37.86 | 36.08 | (-) 4.69 |
Financial investment | 25.81 | 27.71 | 7.35 |
Capital employed | 28.52 | 42.74 | 10.95 |
Net worth | 17.41 | 19.95 | 14.57 |
Dividend declared | 1.05 | 1.23 | 16.31 |
Contribution to Central Exchequer | 4.58 | 4.85 | 5.96 |
Market capitalisation (Listed CPSEs) | 16.85 (63 CPSEs) | 37.23 (66 CPSEs) | 120.95 |
Market capitalisation refers to the total value of a company’s outstanding shares, calculated by multiplying the current market price of shares by the total number of shares. As of March 31, 2024, the market capitalisation of 66 listed CPSEs stood at over ₹37 lakh crore, a substantial increase from ₹16.85 lakh crore recorded in FY 2023-24 for 63 CPSEs. This represents a growth of more than 121%.
Key contributors to this increase in market capitalisation include major companies such as NTPC Ltd., Oil & Natural Gas Corporation Ltd. (ONGC), Hindustan Aeronautics Ltd., Coal India Ltd., and Indian Railway Finance Corporation Ltd.
The report also revealed that the net profit of all profit-making CPSEs rose by more than 38% in FY 2024, reaching ₹3.22 lakh crore compared to ₹2.18 lakh crore in FY 2023. A significant portion of this profit growth came from the Petroleum (Refinery & Marketing) sector, where profits surged from ₹0.11 lakh crore to ₹0.89 lakh crore. Indian Oil Corporation Ltd. was a major contributor to this growth, with a profit of ₹0.31 lakh crore.
On the other hand, the losses of loss-making CPSEs decreased by over 27%, dropping from ₹0.29 lakh crore in FY 2023 to ₹0.21 lakh crore in FY 2024. Notable companies in this category include Bharat Sanchar Nigam Ltd. (BSNL), Rashtriya Ispat Nigam Ltd., and Mahanagar Telephone Nigam Ltd. The report also noted that Hindustan Petroleum Corporation Ltd. turned its loss of ₹0.15 lakh crore in FY 2022-23 into a profit of ₹0.15 lakh crore in FY 2023-24.
The contribution of CPSEs to the central exchequer also showed positive growth. The total contribution, including excise duty, custom duty, GST, corporation tax, dividends, and other taxes, amounted to ₹4.85 lakh crore in FY 2024, up from ₹4.58 lakh crore in FY 2023, marking an increase of around 6%. The largest portion of this contribution came from excise duty, which accounted for 46% of the total. A notable increase was seen in corporation tax, which rose from ₹0.56 lakh crore in FY 2023 to ₹0.81 lakh crore in FY 2024.
The top five CPSEs contributing to the central exchequer were Indian Oil Corporation Ltd., Bharat Petroleum Corporation Ltd., Hindustan Petroleum Corporation Ltd., ONGC, and Mangalore Refinery and Petrochemicals Ltd.
This growth in both market capitalisation and financial performance underscores the improving health of CPSEs, with a positive outlook for the coming years.