Crisil

Reducing oil import dependence requires India to also curb its demand for oil

Crisil expects India's oil trade deficit and current account deficit to widen sharply in FY27 as Brent crude prices rise amid the West Asia crisis

Crisil Ratings expects India's passenger vehicle industry to post record sales this fiscal, supported by GST-led demand recovery and continued preference for utility vehicles

Crisil has lowered India's FY27 growth forecast, warning that elevated crude oil prices and supply disruptions could hurt inflation, consumption and investments

Crisil said most delayed highway projects under the hybrid annuity model have received extension approvals as delays were beyond concessionaires' control

India's flexible workspace market is projected to expand sharply over the next two fiscals, driven by rising demand from GCCs, corporates and start-ups, with credit profiles expected to remain stable

CRISIL says Brent crude prices may stay elevated amid supply disruptions, geopolitical risks, and constrained flows, revising its FY27 price outlook upward to $90-$95 per barrel

Crisil sees strong infrastructure investment growth through FY28 backed by policy support and balance sheets, though risks persist across renewables, roads and real estate

Domestic lenders likely to see GNPAs at 2-2.2% in FY27, with MSME segment facing some pressure while corporate and retail portfolios remain stable

Crisil has reported a 46% jump in net profit to ₹233 crore for the first quarter of CY26. CRISL has also announced an interim dividend of Rs 9.

Crisil on Friday reported a 45.9 per cent rise in net profit to Rs 233.3 crore for the January-March quarter. The domestic rating agency had registered a profit after tax (PAT) of Rs 159.8 crore in the March quarter of the preceding fiscal year. Its consolidated total income for the first quarter of fiscal year 2026 rose 29.6 per cent to Rs 1,093.7 crore compared to Rs 843.8 crore in the year-ago period. Crisil Managing Director and CEO Amish Mehta said the growth in businesses during Q1 FY26 was driven by customer centricity and differentiated, domain-led solutions. "The ongoing geopolitical issues underscore the essentiality of our insights and risk solutions for clients navigating complexity. The growth and resilience of the Indian economy continue to offer opportunities for our businesses," Mehta said. Crisil expects India's gross domestic product to grow at 7.1 per cent in the base case for this fiscal compared to 7.6 per cent in the last fiscal, with increasing downside risk

Q4FY26 company results: Firms including Angel One, Waaree Renewable Technologies, VST Industries, and Alok Industries are also to release their January-March earnings today

Non-banking finance companies' (NBFCs) reliance on bank borrowings is likely to rise in FY27 due to lower interest rates, a rating agency said on Wednesday. The share of bank borrowings, which rose to 43 per cent on the back of higher activity in the second half of the recently concluded FY26, will inch up further to up to 45 per cent by the end of the ongoing fiscal, Crisil Ratings said. It attributed the shift in preference to lower interest rates in the bank lending market, which is likely to lead to a tapering in the debt capital market issuances. "While bank lending rates continued to decline throughout last fiscal, bond yields, after declining in the first half, inched up in the second half and remain elevated," the agency said. Additionally, the share of external commercial borrowing (ECB) issuances will also be muted in the near term, owing to geopolitical uncertainties and the resultant exchange rate volatility, it added. In such a scenario, securitisation is expected to

CRISIL upgrades Shriram Finance to AAA and Sammaan Capital to AA+, citing improved credit profiles, strong capital buffers and strategic backing from IHC Group

Rating agencies flag moderation in upgrade-downgrade ratios in FY26, with the West Asia conflict likely to test corporate balance sheets and margins in FY27

Manual services account for 75-80 per cent of the market and involve providing security personnel to man public spaces, housing societies, commercial complexes and banks, among others

Ongoing Middle East conflict may reduce India's city gas distribution sales volumes by 8-10 per cent due to LNG supply disruptions, though price pass-through may cushion margins

Crisil projects India's economy to grow 7.1 per cent in FY27 on consumption and investment, but warns West Asia tensions and trade frictions pose downside risks

CRISIL cautions that continued Middle East tensions could disrupt LNG and crude supplies, pressuring fertilisers, refineries, chemicals and other energy-intensive sectors in India

A prolonged war in the Middle East could adversely affect several Indian sectors with direct trade exposure to the region, including basmati rice, fertilisers, diamond polishing, airlines and travel operators, according to Crisil Ratings. The rating agency said sectors dependent on imported Liquefied Natural Gas (LNG), such as ceramics and fertilisers, may also face near-term production disruptions, while crude-linked industries including oil refiners, tyres, paints, specialty chemicals, flexible packaging and synthetic textiles could see cost pressures if energy prices remain elevated. Countries in the Middle East account for about 30 per cent of global crude oil and 20 per cent of global LNG production, most of which is transported through the Strait of Hormuz. India imports roughly 85 per cent of its crude oil and about half of its LNG, with 40-50 per cent of crude oil and 50-60 per cent of LNG shipments routed through the strait. According to Crisil, most shipping vessels have .