Page 3 - Crisil Ratings

States to spend ₹1 trn on pre-poll sops to women in FY26: Crisil report

Top 18 states will spend Rs 1 lakh crore on pre-poll sops to women this fiscal, Crisil Ratings said on Thursday. States' spending on social sector schemes will be at an elevated 2 per cent of GSDP (Gross State Domestic Product) in FY26 and is likely to impact capital expenditure, it added. The social sector spends used to be in the range of 1.4-1.6 per cent of GSDP between fiscals 2019 and 2024, and climbed up to 2 per cent last fiscal, the rating agency said. "This fiscal (FY26), the elevated spending will result in high revenue deficit, thereby limiting the flexibility of the states to undertake higher capital outlays," the agency said. The analysis includes 18 top states accounting for over 90 per cent of aggregate GSDP of all states, and added that social sector spends includes revenue expenditure for welfare of backward classes, women, children and labour, as well as assistance to certain demographics in the form of social security pensions. Its senior director Anuj Sethi sai

Crisil SME Tracker: Rural road execution likely speed-breaker for SMEs

Small and medium enterprises (SMEs) are expected to play a crucial role in this growth given they account for 50-55 per cent of the industry by revenue

RBI's breather on gold loans to spur growth in NBFCs: Crisil Ratings

RBI's revised gold loan norms to benefit NBFCs by raising LTV ceilings, providing better cushions for bullet loans and expanding lending headroom

Credit rating stocks CRISIL, CARE rally 6% in Wednesday's trade; here's why

Analysts remain positive on Domestic Ratings business - CRISIL, CARE - and expect bond issuances to increase over coming quarters aided by monetary easing and softening corporate spreads.

Dairy companies likely to record 11-13% revenue growth in FY26: Crisil

Dairy companies are likely to witness 11-13 per cent revenue growth this financial year on strong demand, increasing share of value-added products (VAP) and higher milk prices, a report said on Monday. The profitability will improve by 20-30 basis points (bps), aided by better realisations, healthy milk supply keeping procurement prices in check and a favourable shift towards VAP, which fetches higher margins, Crisil Ratings said in a report. The rating agency further stated that to capitalise on the healthy growth momentum, companies will ramp up capital expenditure (capex) by 10 per cent this fiscal. A sizable portion of this capex will be to enhance capacities for VAP, a segment that continues to outpace the traditional liquid milk category, it added. Despite the higher capex, credit profiles of dairy companies are expected to remain stable because of improving cash flows and strong balance sheets, the report said. "The VAP segment is expected to clock a strong 16-18 per cent .

This smallcap stock has surged over 50% in 4 days; what's behind the rally?

Dynamic Cables share price has soared 37 per cent after it reported a strong set of earnings for the quarter ended March 2025 (Q4FY25)

Crisil puts IndusInd Bank's long-term debt instrument on 'rating watch'

CRISIL puts Rs 5,500 crore worth of IndusInd Bank's bonds on rating watch with negative implications amid top exits, MFI audit, and Rs 1,960 crore derivatives loss

Smallcap stock surges 11%, hits record high in subdued market; Do you own?

Shares of Privi Speciality Chemicals hit a new high of ₹2,185, soaring 11% in Thursday's intra-day trade. The stock has recovered 56% from its March low of ₹1,368.15 on the BSE.

Dividend, stock split, rights issue: CRISIL, 4 others to remain in focus

CRISIL, Varun Beverages, and Sundram Fasteners have announced dividends for their respective shareholders, while Avantel has announced a rights issue, and Info Edge (India) has announced stock split

How much should you allocate to gold in your portfolio this Akshaya Tritiya?

In early 1980, investors, according to Capitalmind, were inspired by the stellar returns of the 1970s. If they invested in gold back then, they would have faced two decades of negative returns.

India's PV volume to cruise past 5 million in FY26 despite slow growth

As volume growth slows, original equipment manufacturers (OEMs) will rely on premiumisation and better product mix to protect margins

Tanishq charts course for double-digit growth as gold prices climb

Tata group co expanding 18 kt wedding line; slashing masking charges

Crisil Ratings downgrades United India Insurance rating from AA to AA-

Reaffirms rating for New India, National Insurance

Bank credit in India likely to grow at 12-13% in FY26: CRISIL Ratings

Tax sops, softer interest rates to support loan offtake

Brokerages analyse US tariffs impact on economies, sectors and markets

Analysts at Barclays, meanwhile, estimate that nearly $22 billion worth of India's exports (30 per cent of exports to the US and 5 per cent of total goods exports) are most at risk

ARCs to see uptick in cumulative recovery rates in FY25 and 26: Crisil

Debt recast in thermal power, recoveries in realty to drive performance

India's data centre capacity to more than double by FY27: CRISIL Ratings

India's data centre capacity is set to more than double to 2-2.3 GW by 2026-27, led by increasing digitalisation as organisations increase their investments in cloud storage, Crisil Ratings said in a report on Monday. Further, the report stated that rising penetration of Generative Artificial Intelligence (GenAI) will drive the demand over the medium-term. To support the strong demand, the incremental capital expenditure would be supported by a higher proportion of debt funding, which will result in a moderate increase in debt levels, it said. Data centres cater to the computing and storage infrastructure demand as enterprises rapidly shifting their businesses to digital platforms, including cloud, a trend that has accelerated post Covid-19 pandemic, it said. The other major factor is that increased accessibility of high-speed data has led to a surge in internet usage, including social media, over-the-top (OTT) platforms and digital payments, it added. Notably, mobile data traffic

Adani Group has liquidity, cash flows to serve debt, says CRISIL Ratings

Ratings of 24 group firms under 'continuous surveillance', says agency about conglomerate facing legal charges in the US

No negative actions so far by investors on Adani after indictment: CRISIL

Backing embattled Adani Group, rating agency CRISIL Ratings on Friday said the conglomerate has sufficient liquidity and operational cash flows to meet debt obligations and committed capex and that there has been no negative actions so far by lenders and investors following the US indictment of group founder chairman. The Adani Group, which has the flexibility to reduce certain discretionary capital expenditure (capex) depending on developments in financial markets and future capital availability, has a healthy Ebitda and cash balance that reduces its dependence on external debt to sustain operations, it said in a bulletin. On November 20, 2024, the United States Department of Justice and the US Securities and Exchange Commission (SEC) issued an indictment and a civil complaint, respectively, in the United States District Court for the Eastern District of New York, against Gautam Adani, Sagar Adani and Vneet Jaain, key functionaries of Adani Green Energy Ltd (AGEL). The charges rela

GST fitment committee set to review 18% tax on co-lending services

Under the co-lending model, NBFCs are required to retain a minimum of 20 per cent of individual loans on their books, while the remaining balance is held by banks