Market Research Report : Lighting industry in india 2015 - Sample

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Abstract :
Netscribes’ latest market research report titled Lighting Industry in India 2015 analyses the Indian lighting market into four broad dimensions, based on applications, technologies, geographies and end-market structures. It tracks the domestic production of different lighting equipment, such as lamps, LEDs and luminaires. Incandescent lamps dominate the non-LED lighting market, followed by CFL lamps and other fluorescent lamps. However, the market for incandescent lamps is shrinking, as people migrate to more energy-efficient and cost-effective sources of light. This is strongly reflected in the urban lighting usage pattern, where the share of incandescent lamps has shrunk to just one-fourth. In terms of growth, the Indian LED lighting market has outpaced non-LED lighting market by over four times and holds the most potential. Today, the Indian lighting market has evolved and offers specialized products such as mood-enhancing lights, LED candles and decorative lights.

Since the opening of Foreign Direct Investment (FDI) in retail, the lighting market in India has seen the entry of several international players. On the other hand, domestic players have expanded their presence throughout the country. The growth in Indian lighting market has been fuelled by the increase in disposable income, growing consumption in rural segment, rise in organized retail, boom in real estate sector, changing lifestyle of consumers, increasing availability of credit, improvement in rural electrification and the growing population. However, players are also facing challenges such as competition from unorganized segment, depreciation of Rupee and rise in energy costs, lack of consumer awareness about energy-efficient lighting and high import dependency.

Table of Contents :
Slide 1: Executive Summary

Macroeconomic Indicators
Slide 2: GDP at Factor Cost: Quarterly (2011-12 – 2014-15), Inflation Rate: Monthly (Jul 2013 – Dec 2013)
Slide 3: Gross Fiscal Deficit: Monthly (Feb 2013 – Jul 2013), Exchange Rate: Half Yearly (Apr 2014 – Sep 2014)
Slide 4: Lending Rate: Annual (2011-12 – 2014-15), Trade Balance: Annual (2010-11 – 2013-14), FDI: Annual (2009-10 – 2012-13)

Introduction
Slide 5: Classification of the global lighting market

Market Overview
Slide 6: Indian Lighting Market – Overview, Market Size and Growth (Value-Wise; 2013-2018e), Domestic Production (Percentage-Wise; 2010-2013), Segmentation of non-LED Lights (2013)
Slide 7: Lighting Market – Types of Lights, Non-LED Lights –Market Size and Growth (Value-Wise; 2013-2018e), LED Lights –Market Size and Growth (Value-Wise; 2013-2018e)
Slide 8: Rural and Urban Usage Pattern of Lighting Products
Slide 9: LED Lighting – Value Chain

EXIM Data
Slide 10: Export of Lighting Products – Overview, Total Exports (Value-Wise; 2012 – Apr-Aug 2014), Country-Wise Exports Segmentation (Apr-Aug 2014)

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Market Research Report : Lighting industry in india 2015 - Sample

  1. 1. Lighting Industry – India February 2015
  2. 2. 2 Executive Summary Market Drivers & Challenges Government Competitive Landscape  Indian lighting industry was worth INR 135.04 bn in 2013, growing at a CAGR of 19.1%  A formidable feature of this sector is the vast distribution network of players  LED lighting, a sub-set of the lighting industry, has been growing at a CAGR of 46.0%  Published LED Standards  Regulatory Stakeholders – LED Initiatives  Government Support for LED Industry in India Drivers  Increase in Disposable Income  Growth in Rural Segment  Rise in Organized Retail  Boom in Real Estate Sector  Changing Lifestyle of Consumers  Increasing Availability of Credit  Improvement in Rural Electrification  Growing Population Major Players Bajaj Electricals Ltd. Crompton Greaves Ltd. GE India Industrial Pvt. Ltd. Orient Paper & Industries Ltd. Osram India Pvt. Ltd. Philips India Ltd. Trends  LED Technology Development  Digital Signage  Solar LED Lights LIGHTING INDUSTRY IN INDIA 2015.PPT Challenges  Tough Competition from Unorganized Players  Depreciation of Rupee and Rise in Energy Costs  Lack of Consumer Awareness About Energy-Efficient Lighting  High Import Dependency
  3. 3. 3LIGHTING INDUSTRY IN INDIA 2015.PPT •Macroeconomic Indicators •Introduction •Market Overview •EXIM Data •Drivers & Challenges •Government Initiatives •Trends •Competitive Landscape •Strategic Recommendations •Appendix
  4. 4. 4 The fragmented and complex lighting market can be categorized into four broad dimensions End-market Structure Technologies Geographies Applications LIGHTING INDUSTRY IN INDIA 2015.PPT
  5. 5. 5 Lighting market in India is showing an upward trend with a rise in consumer base • The Indian lighting industry reached INR ‘m1’ in 2013, growing at a CAGR of ‘r1’% over 2010-13 • Lighting industry in India is divided into different types of lighting systems • Lighting energy consumption in commercial buildings is around ‘r2’-’r3’% • Energy consumption from lighting in industrial plants is around ‘r4’-’r5’% Market Overview Lighting Market Size and Growth Lamps Market – Segmentation (2013)Lighting Market – Domestic Production y5 y4 y3 y2 y1 INR bn r6% x6 u x5 t x4 s x3 r x2 q x1 p LIGHTING INDUSTRY IN INDIA 2015.PPT r7% r9% r8% Segment 1 Segment 3 Segment 2 0% 20% 40% 60% 80% 100% 2013 d3% d2% d2% 2012 c3% c2% c2% 2011 a3% a2% b3% b2% b2% 2010 a1% Category 2Category 1 Category 3 Note: Lamps includes incandescent, fluorescent, halogen and other lamps
  6. 6. 6 Rise in lighting equipment production in India… • Export of lighting products from India witnessed a CAGR of ‘r1’% between FY 2012 and FY 2014 • Although cheaper products from ‘c1’ have a bigger market share in global lighting exports, declining cost competitiveness of ‘c1’ holds strong growth prospects for India in the near future • Primary export destinations include ‘c2’, ‘c3’ and ‘c4’ Non-LED Lights – Exports Non-LED Lights – Total Exports (Value) LIGHTING INDUSTRY IN INDIA 2015.PPT r7% r6% r5% r4% r3% r2% y3 y2 y1 INR mn 2015 (Apr- Aug 2014) s 2014 r 2013 q 2012 p Non-LED Exports – Country-Wise Segmentation (2014) Non-LED Exports – Country-Wise Segmentation (2015) Note: Figures are for the respective financial years r12% r11% r10% r9% r8% r13% Others Country 5 Country 4 Country 3 Country 2 Country 1 Others Country 5 Country 4 Country 3 Country 2 Country 1 Note: Data pertain to HS Code 8539: Electric filament or discharge lamps (including sealed beam lamp units and ultra-violet or infra-red lamps), arc-lamps
  7. 7. 7 …has resulted in eventual rise in exports LIGHTING INDUSTRY IN INDIA 2015.PPT r3% r2% r7%r6% r5%r4% r9% r8% r13% r12%r11% r10% Country 2 Country 1 Others Country 5 Country 4 Country 3 Country 3 Country 2 Country 1 Others Country 5 Country 4 y3 y2 y1 INR mn 2015 (Apr- Aug 2014) s 2014 r 2013 q 2012 p Note: Data pertain to HS Code 85414020: Light emitting diodes (electro-luminescent) • Export of lighting-emitting diodes (LEDs) from India has been growing rapidly, witnessing a CAGR of ‘r1’% between FY 2012 and FY 2014 • Although ‘c1’ has the largest market share in global LED exports, declining cost competitiveness of ‘c1’ holds strong growth prospects for India in the near future • ‘c2’, ‘c3’ and ‘c4’ are traditionally the largest markets for Indian LEDs LED Lights – Exports LED Lights – Total Exports (Value) LED Exports – Country-Wise Segmentation (2014)LED Exports – Country-Wise Segmentation (2015) Note: Figures are for the respective financial years
  8. 8. 8 Drivers & Challenges – Summary Drivers Increase in Disposable Income Growth in Rural Segment Rise in Organized Retail Boom in Real Estate Sector Changing Lifestyle of Consumers Increasing Availability of Credit Improvement in Rural Electrification Growing Population Challenges Tough Competition from Unorganized Players Depreciation of Rupee and Rise in Energy Costs Lack of Consumer Awareness About Energy-efficient Lighting High Import Dependency LIGHTING INDUSTRY IN INDIA 2015.PPT
  9. 9. 9 Publication of LED standards is expected to transform the lighting industry in India Published LED Standards Sl No IS No Title 1 2 3 4 5 6 7 8 9 • Recently announced standards on LED lighting are expected to bring about large scale lighting revolution in India  Standards have been brought out by ‘n1’ and ‘n2’ to help phase out inefficient lighting • Global standards have been considered while formulating the Indian standards which are expected to ensure that the Indian LED manufacturers meet the minimum manufacturing criterions • Standards based on international trends are also expected to help the Indian LED products to compete with the international counterparts LIGHTING INDUSTRY IN INDIA 2015.PPT
  10. 10. 10 Trends – Summary LIGHTING INDUSTRY IN INDIA 2015.PPT Key Trends LED Technology Development Solar LED Lights Digital Signage
  11. 11. 11LIGHTING INDUSTRY IN INDIA 2015.PPT Porter’s Five Forces Analysis Competitive RivalryBargaining Power of Suppliers Bargaining Power of Buyers Threat of New Entrants Impact i4 Impact i2 Impact i1 Impact i5 Threat of Substitutes Impact i3
  12. 12. 12 Competitive Benchmarking (1/5) Public Trading Comparable (FY 2014) Company 1 Company 2 Company 3 Company 4 Company 5 Market Capitalization (INR mn) Share Price (INR) EV/EBITDA (x) EV/Revenue (x) PE Ratio LIGHTING INDUSTRY IN INDIA 2015.PPT Note: Top 5 Public companies based on the Market Capitalization; Market Capitalization, Share Price and PE ratio is as of 18/11/2014
  13. 13. 13 • Company 3 recorded gross margin of a3%, higher than both Company 1 and Company 2 which recorded gross margin of a1% and a2% respectively • Company 3 recorded operating margin of b3%, higher than both Company 1 and Company 2 which recorded operating margin of b1% and b2% respectively • Company 2 recorded net margin of c2%, higher than that of Company 1 which recorded net margin of c1% but lower than that of Company 3 which recorded net margin of c3% Key Ratios of Top 3 Companies – Operational Basis (FY 2014) (1/3) Competitive Benchmarking (2/5) -10 0 10 20 30 40 % Company 3 c3 b3 a3 Company 2 c2b2 a2 Company 1 c1 b1 a1 LIGHTING INDUSTRY IN INDIA 2015.PPT Net MarginOperating MarginGross Margin
  14. 14. 14LIGHTING INDUSTRY IN INDIA 2015.PPT Key People Products and Services Company Information Offices and Centres – India Corporate Address Tel No. Fax No. Website Year of Incorporation Ticker Symbol Stock Exchange Category Products/Services Name Designation Chairman, MD and CEO Joint MD President CFO and EVP Head Office H1 Public: Company 1 (1/4)
  15. 15. 15LIGHTING INDUSTRY IN INDIA 2015.PPT Financial Snapshot Key Ratios Financial Summary • The company earned a net loss of INR ‘d’ in FY 2014, as compared to net profit of INR ‘c’ in FY 2013 • It reported total income of INR ‘s’ in FY 2014, registering an increase of ‘r1’% over FY 2013 • It earned an operating margin of ‘r2’% in FY 2014, a decrease of ‘r3’ percentage points over FY 2013 • It reported debt to equity ratio of ‘n1’ in FY 2014, an increase of ‘r4’% over FY 2013 Particulars y-o-y change (2014-13) 2014 2013 2012 2011 Profitability Ratios Operating Margin Net Margin Profit Before Tax Margin Return on Equity Return on Capital Employed Return on Working Capital Return on Assets Return on Fixed Assets Cost Ratios Operating costs (% of Sales) Administration costs (% of Sales) Interest costs (% of Sales) Liquidity Ratios Current Ratio Cash Ratio Leverage Ratios Debt to Equity Ratio Debt to Capital Ratio Interest Coverage Ratio Efficiency Ratios Fixed Asset Turnover Asset Turnover Current Asset Turnover Working Capital Turnover Capital Employed Turnover Improved Decline Key Financial Performance Indicators Indicators Value (18/11/2014) Market Capitalization (INR mn) Total Enterprise Value (INR mn) EPS (INR) PE Ratio (Absolute) Profit / LossTotal Income z3 z2 z1 y3 y2 y1 p INR mnINR mn 2014 d s 2013 c r 2012 b q 2011 a Public: Company 1 (2/4)
  16. 16. 16LIGHTING INDUSTRY IN INDIA 2015.PPT Key Business Segments Key Geographic Segments Business Highlights Description News Overview • Company 1 is part of the ‘n1’ which consists of other companies such as ‘n2’, ‘n3’ and ‘n4’ • It was incorporated in ‘y1’ as ‘n5’ and was renamed to Company 1 in ‘y2’ • The company has a portfolio of over ‘a1’ different products under the segments ‘s1’, ‘s2’, ‘s3’, ‘s4’ and ‘s5’ • It also holds exclusive distribution license for ‘n6’ appliances in India Business Operations • The company has a strong distribution network of over ‘a2’ distributors and ‘a3’ dealers  Its ‘s1’ has a retail network of over ‘a4’ outlets, while the brand ‘n6’ would have a retail network of ‘a5’ outlets by the end of ‘y3’ • It also has a franchised customer care network of ‘a6’ centers Note: Business Segments and Geographic Segments are based on total revenues y6 y5 y4 y3 y2 y1 p2% 2011 s1% r1% q1% p1% 2014 s4% r4% q4% p4% 2013 s3%r3% q3% p3% 2012 s2% r2% q2% y6 y5 y4 y3 y2 y1 2014 u2% t4% 2013 u1% t3% 2012 t2% 2011 t1% Segment 2Segment 1 Segment 4 Segment 3 Segment 2 Segment 1 Public: Company 1 (3/4)
  17. 17. 17 TO WS Public: Company 1 – SWOT Analysis (4/4) LIGHTING INDUSTRY IN INDIA 2015.PPT
  18. 18. 18LIGHTING INDUSTRY IN INDIA 2015.PPT Key People Products and Services Company Information Offices and Centres – India Category Products Name Designation Director Director Director Director Corporate Address Tel No. Fax No. Website Year of Incorporation Head Office H1 Private: Company 2 (1/5)
  19. 19. 19 Shareholders of the Company Ownership Structure Name No. of Shares held r4% r3% r2% r1% Note: AGM as of 29th Sep 2012 LIGHTING INDUSTRY IN INDIA 2015.PPT Private: Company 2 (2/5) Category 1 Category 3 Category 2 Category 4
  20. 20. 20LIGHTING INDUSTRY IN INDIA 2015.PPT Financial Snapshot Key Ratios Financial Summary Particulars y-o-y change (2013-12) 2013 2012 2011 2010 Profitability Ratios Operating Margin Net Margin Profit Before Tax Margin Return on Equity Return on Capital Employed Return on Working Capital Return on Assets Return on Fixed Assets Cost Ratios Operating costs (% of Sales) Administration costs (% of Sales) Interest costs (% of Sales) Liquidity Ratios Current Ratio Cash Ratio Leverage Ratios Debt to Equity Ratio Debt to Capital Ratio Interest Coverage Ratio Efficiency Ratios Fixed Asset Turnover Asset Turnover Current Asset Turnover Working Capital Turnover Capital Employed Turnover Improved Decline Net Profit/LossTotal Income z5y6 z1 y2 z3 y5 z4 y3 y1 y4 z2 INR mn d 2013 INR mn s 2012 c r 2011 b q 2010 a p • The company earned a net profit of INR ‘d’ in FY 2013, as compared to net profit of INR ‘c’ in FY 2012 • It reported total income of INR ‘s’ in FY 2013, registering an increase of ‘r1’% over FY 2012 • It earned an operating margin of ‘r2’% in FY 2013, an increase of ‘r3’ percentage points over FY 2012 • It reported debt to equity ratio of ‘n1’ in FY 2013, a decrease of ‘r4’% over FY 2012 Private: Company 2 (3/5)
  21. 21. 21LIGHTING INDUSTRY IN INDIA 2015.PPT Business Highlights Description News Overview • Company 2 is part of the Indian multinational ‘n1’ • The group has a workforce of over ‘a1’ employees and operates in over ‘a2’ countries in ‘r1’, ‘r2’, ‘r3’ and ‘r4’ • Company 2 is among the largest players in the Indian ‘n2’ industry • It is among the largest manufacturers of ‘p1’ in the world, producing over ‘a3’ units annually Business Operations • The company operates an extensive distribution network of ‘a4’ authorized dealers and ‘a5’ retailers across the country • It also has ‘a6’ marketing offices and a government-approved research and development (R&D) center that employs over ‘a7’ engineers • The company operates ‘a8’ manufacturing facilities spread across India  The manufacturing facilities are ‘c1’ certified for ‘s1’, ‘c2’ certified for ‘s2’, ‘c3’ certified for ‘s3’ and ‘c4’ certified for ‘s4’  Moreover, all the products manufactured by the company are ‘c5’ certified by ‘n3’ Private: Company 2 (4/5)
  22. 22. 22 TO WS LIGHTING INDUSTRY IN INDIA 2015.PPT Private: Company 2 – SWOT Analysis (5/5)
  23. 23. 23 Thank you for the attention Phone: +91 22 4098 7600 E-Mail: info@netscribes.com About Netscribes Netscribes is a knowledge-consulting and solutions firm with clientele across the globe. The company’s expertise spans areas of investment & business research, business & corporate intelligence, content-management services, and knowledge-software services. At its core lies a true value proposition that draws upon a vast knowledge base. Netscribes is a one-stop shop designed to fulfil clients’ profitability and growth objectives. Disclaimer: This report is published for general information only. Although high standards have been used in the preparation, “Netscribes” is not responsible for any loss or damage arising from use of this document. This document is the sole property of Netscribes and prior permission is required for guidelines on reproduction. Lighting Market – India report is part of Netscribes’ Retail and Services Series. For any queries or customized research requirements, contact us at: LIGHTING INDUSTRY IN INDIA 2015.PPT

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