Corporate capex growth slows in FY24 after picking up pace in FY23

The firms in these two sectors together accounted for 30 per cent and 15 per cent of the fixed assets of all companies, respectively, in the sample in FY24

After picking up pace in 2022-23 (FY23), growth in capital expenditure (capex) by the corporate sector in capacity expansion and new projects slowed in 2023-24 (FY24).

The combined fixed assets of India’s top 990 listed companies, excluding banks, financial services, and insurance (BFSI), and 

stockbroking firms, increased by just 7.6 per cent year-on-year (Y-o-Y) in FY24, down from 12.2 per cent a year earlier.

The slowdown was across the board and companies in most key sectors.
 

The combined fixed assets of the non-BFSI sector excluding oil and gas companies (including Reliance Industries) were up 6.3 per cent Y-o-Y in FY24, down from the