India Inc sees asset impairment surge to Rs 1.6 trn as slowdown bites

Metals, mining and energy major Vedanta tops the list with asset impairment worth nearly Rs 50,000 crore since FY15 as it slashed the fair value of its investment

As slower growth over the past few years bites India Inc, an increasing number of companies have taken a haircut on their investment in subsidiaries and joint ventures. India’s top companies have taken impairment charge of nearly Rs 1.6 trillion in the past 10 years — most of it in the last four-five years — as diversifications and overseas ventures failed to live up to expectations.
 

Mahindra & Mahindra is the latest company to bite the bullet as it wrote down the fair value of equity investment in Ssanyong Motors and US two-wheeler business by around Rs 1,800 crore and