Customer Segments for Exchange industry in India can be divided as –
1. Instrument type – cash, currency, bond, commodities and so on.
2. Different Participant types – Proprietary, Retail and Institutional Market Participants.
3. Sector wise Issuers – finance, infra, manufacturing etc
Industry Seems to be in Growth Stage. This is because the following characteristics are evident in the Industry –
1. Rapid Growth in Sales
2. Product Suite Enhancements
3. Increase in Profits
4. Increase in Competition
5. Strengthening Distribution Channel
6. Investment Entering the Industry
Jubilant Foodworks Ltd – High Fixed Investment but met by internal cash generation
Westlife Developement – High Capital Investment
Burger King India – Very high Fixed Investment
Industry generally needs to keep investing cash to open new stores. Mature companies generate higher free cash flow as compared to younger ones.