Corporate capex by listed firms surged 20% YoY to Rs 11 lakh crore in FY25, outpacing government spending.
Growth was broad-based, led by utilities, auto, cement, and healthcare; RIL topped spends despite flat growth.
Capex-to-depreciation ratio rose to 2x; CFO-to-capex ratio fell to 1.5x, hinting at rising credit demand.
Policy support via fiscal easing and rate cuts is driving capex momentum despite global uncertainty.
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