Page 4 - Crisil Ratings

Digital transformation to drive media revenue growth to 8% by FY2027

The report analysed 20 media companies accounting for nearly 55 per cent of the media industry's revenue

Credit costs of MFIs likely to go up to 3-3.5% in FY25: CRISIL Ratings

The asset quality of the microfinance portfolio deteriorated in Q1 FY25 as the heatwave across the country adversely impacted the income of borrowers and collections

No near-term impact of B'desh situation on India's trade: CRISIL Ratings

Crisil Ratings on Tuesday said the recent developments in Bangladesh did not have a significant impact on India's trade and it does not foresee any near-term impact on the credit quality of India Inc. Crisil Ratings said the effect will vary based on industry/sector-specific nuances and exposure. "We do not foresee any near-term impact on the credit quality of India Inc either," it added. However, a prolonged disruption can affect the revenue profiles and working capital cycles of some export-oriented industries for which Bangladesh is either a demand centre or a production hub. Also, the movement in the Bangladeshi currency Taka, will have to be watched, the credit ratings agency said. "Recent developments in Bangladesh haven't had a significant impact on India's trade and going forward, the effect will vary based on industry/sector-specific nuances and exposure. We do not foresee any near-term impact on the credit quality of India Inc either," Crisil Ratings said. Companies into

CRISIL SME Tracker: Steel MSMEs may see softer growth this financial year

Despite this, growth is still projected to exceed decadal averages and will continue to be aided by demand from infrastructure and construction segments

Gold loan demand stays strong despite cash disbursement curbs: CRISIL

According to CRISIL, growth for gold-loan NBFCs has been supported by favourable movement in gold prices

Regional print media to grow 8-9% from ad revenue, lower costs: CRISIL

Increasing advertisement demand and lower newsprint costs drive revenue and profitability for regional newsprint media companies, says CRISIL Rating report

Rising deposit costs to weigh on NIMs, RoA of banks: CRISIL Ratings

Deposit costs are seen increasing 25-30 basis points in FY25, after rising about 140 basis points since May 2022

Thomas Cook India's shares rise after CRISIL upgrades outlook to 'Positive'

Thomas Cook India's stock price zoomed 3.2 per cent at Rs 225 per share on the BSE in Thursday's intraday trade

Fund Pick: Nippon India Large Cap Fund leads from the front, says CRISIL

The fund has consistently outperformed its peers in all trailing periods under analysis

Crisil ESG Ratings receives market regulator Sebi approval for ESG scoring

The rating provider launched its ESG scoring business in 2021 and now tracks over 1,000 companies across 65 sectors

CRISIL results: Net profit drops 5% to Rs 138 crore in Jan-March quarter

Ratings firms Crisil on Tuesday reported a 5.4 per cent drop in consolidated net profit to Rs 138 crore for the first quarter ended March 31. The company had posted a net profit of Rs 146 crore in the same period last year. Crisil's consolidated total income rose to Rs 751 crore for the quarter ended March 31, 2024, from Rs 732 crore a year ago, the company said in a regulatory filing. At the same time, expenses increased to Rs 563 crore during the quarter against Rs 539 crore in the year-ago period. Its board has also approved the payment of an interim dividend of Rs 7 per equity share of face value of Re 1 each, for the financial year ending December 31, 2024, which will be paid on May 14, 2024, it said. Crisil follows a calendar year as its financial year. The rating agency expects India's GDP growth to moderate to 6.8 per cent in fiscal 2025 due to high-interest rates, fiscal consolidation and uneven global growth. On the other hand, healthy corporate balance sheets, a robus

Credit quality of Indian companies stayed healthy in H2FY24, says CRISIL

Rating upgrades surpassed downgrades in H2FY24. Outlook remains robust for H1FY25

SBI Card to raise up to Rs 2,000 crore in capital via Tier II bonds

CRISIL Ratings has assigned its "AAA/Stable" rating to the Rs 2,000 crore non-convertible debentures and Rs 2,000 crore lower Tier II bonds

NBFC's mission to diversify funding may see them struggle in the quest

Mint Road's nudge to NBFCs to diversify their funding will change the game. NBFCs claim they have been caught off guard, but the issue was flagged by RBI Governor

Hospitality industry expects 11-13% revenue growth on domestic demand

The hospitality industry is expected to clock 11-13 per cent revenue growth in 2024-25 on steady domestic demand and a rise in foreign travellers, a report said on Monday. This revenue growth will follow a likely 15-17 per cent growth in the current financial year, backed by steady domestic demand and ramp-up in foreign travellers, Crisil Ratings said in a report on Monday. The strong demand dynamics along with modest new supply will keep the operating performance of the industry healthy over the near term, the report added. According to the report, the healthy operating performance will augur well for the industry profitability where the EBITDA, or earnings before interest, taxes, depreciation, and amortization will continue the strong momentum over the current and the next fiscal. This, along with limited capital expenditure, will keep the credit profiles strong, the report noted. "The domestic travel demand, which remained a key driver this fiscal, will sustain next year as wel

Indian economy to grow at 6.7% between fiscals 2024 to 2031: CRISIL

The Indian economy is expected to grow at an average rate of 6.7 per cent per annum until the end of the decade, CRISIL said in its latest report. The economy will grow at this rate between the financial years 2024 to 2031, a notch above the pre-pandemic average of 6.6 per cent. According to CRISIL, the key contributor to this trend will be capital. This is a result of the investment-driven strategy of the government when the private sector was shy of making investments. The government increased capital expenditure significantly to support building expenditure and providing interest-free loans to states to bolster their own investment efforts, the report said. CRISIL said that after a robust 7.3 per cent growth this fiscal, there will be moderation to 6.4 per cent in the next financial year. There is also a need to monitor the impact of the escalation of the Middle East conflict on energy and logistics costs, it said. In India, the inflation level of 5.7 per cent in December 202

Shipping companies revenue may decline by 5-7% in next fiscal: CRISIL

Domestic shipping companies are likely to see a further 5-7 per cent decline in revenue in the next financial year amid normalisation of the rates, a report said on Thursday. This follows a steep 23-25 per cent fall in their revenue in the current fiscal (2023-24) after a 35 per cent growth in the last financial year when charter rates had surged because of geopolitical conflicts (including the Russia-Ukraine war) and higher demand from China post-pandemic, credit rating agency CRISIL said on Thursday. While the margin profile may vary widely across players operating in different segments, CRISIL said the average operating margin may continue to moderate to 33-35 per cent in the next fiscal driven mainly by the correction in charter rates. However, it will remain higher than the pre-pandemic levels of 25-30 per cent, the rating agency forecast. This along with modest capital expenditure (capex) plans, should sustain the healthy credit risk profiles of shipping companies, CRISIL ...

CRISIL downgrades Edelweiss Financial Services' long-term rating to 'A+'

The group's overall credit profile is supported by adequate capitalization, and a diversified business profile with good market position in asset reconstruction and asset management businesses

Tata Power soars 6%; hits new high after 20 months on positive outlook

CRISIL Ratings expects Tata Power's consolidated adjusted Ebitda to be more than Rs 12,000 crore each in fiscals 2024 and 2025, against around Rs 11,500 crore in FY23 and around Rs 9,600 crore in FY24

CRISIL upgrades outlook on Tata Power to 'positive' on profitability view

Tata Power on Wednesday said Crisil Ratings has upgraded its outlook on the company to 'positive' on expectation of an improvement in operating profitability this fiscal. The ratings agency had earlier assigned a 'stable' outlook on the company, Tata Power said in a regulatory filing. "CRISIL Ratings Limited has upgraded its outlook on the company (Tata Power) from AA/Stable Outlook to AA/Positive Outlook," it said. The revision in outlook reflects the possibility of better-than-expected business risk profile, if the improvement in operating profitability in fiscal 2024, across power generation and distribution business, sustains along with a continuing healthy financial performance with consolidated net leverage (ratio of net debt to EBIDTA) remaining within rating threshold, it said. The increase in operating profitability of Tata Power since fiscal 2023, is mainly on account of better profitability of its Mundra Ultra Mega Power Project (Mundra plant), improved efficiency in Odi