Crisil Report

FMCG sector can hope for revenue revival as urban demand returns: Crisil

The report says the FMCG sector should see revenue rebound by 100 to 200 basis points (bps) to 6-8 per cent in FY26 up from an expected 5-6 per cent in FY25 as volume rises 4-6 per cent

Cement demand to improve, US tariff impact seen for metal: Crisil

On the commodity sector, Crisil said, "especially metals, will continue to drag down growth due to prevailing pricing pressure"

Private capex unlikely to pick up despite high profitability: Crisil

Private sector capital expenditure is unlikely to pick up in a sustained way despite India Inc's profitability being near decadal high, domestic ratings agency Crisil said on Thursday. The profitability of India Inc is set to increase for the third year in a row in FY26 on the back of soft commodity prices, the agency said. An analysis of 800 companies excluding ones in the banking and finance and oil and gas sectors revealed that the pre-tax profit margins are set to widen to up to 20 per cent in FY26. It can be noted that the government is leading the investments in the economy for the last few years, and there have been calls for a revival in the corporate capex as well. However, rather than investing to create new capacities, India Inc has deployed money to retire debt and other measures rather than investing it even though the capacity utilisation levels are high. "Their (corporates') ability to invest is not matched by the willingness to invest at this juncture," the agency'

Homemade meals get dearer in Jan, non-veg thali pinches more: Crisil report

The cost of a homemade meal rose in January year-on-year due to a hike in the prices of potatoes, pulses and chicken, a report said on Thursday. A jump in the chicken prices led to a more pronounced jump in the non-vegetarian thali, the monthly roti, rice rate report by a unit of ratings agency Crisil said. The cost of a vegetarian meal increased to Rs 28.7 per plate from Rs 28 per plate in the year-ago period, on a 35 per cent growth in potato, 7 per cent in pulses and 17 per cent in vegetable oils, it said, adding that an 11 per cent drop in fuel costs helped temper the impact. When compared with the preceding month, the cost of a veg thali cooled from Rs 31.6 per plate on a 34 per cent fall in tomato prices, 16 per cent decline in potato and 21 per cent in onion prices, it said. In the case of non-veg thali, the cost of preparing a plate went up to Rs 60.6 each from Rs 52 a year ago on a 33 per cent jump in broiler, which accounts for 50 per cent weight in the overall price, it

Indian aircraft MRO sector to grow 50% in topline by FY26, says Crisil

The Indian aircraft maintenance, repair and overhaul (MRO)industry is expected to see a 50 per cent topline growth to Rs 4,500 crore in FY26 amid fresh demand triggered by airline operators' expanding fleet size, ratings agency Crisill said on Monday. The rating agency's study based on three MRO operators, which account for 90 per cent of the industry's revenue, also pointed out that reduction in GST on aircraft components and services not only positions domestic MRO players more competitively with their overseas competitors but also ease their working capital blockage. Indian MRO players typically provide three types of services -- line checks (undertaken before every take off), air frame checks (every 12-18 months which involves grounding the aircraft for 3-4 weeks) and redelivery checks (at the time of expiry of lease period of 6-7 years). "Revenue of the domestic aircraft maintenance, repair and overhaul industry will surpass Rs 4,500 crore in fiscal 2026, clocking an impressive

Crisil SME tracker: Govt move on exports to boost revenue for sugar SMEs

Last financial year, the industry witnessed a sharp 10 per cent growth in revenue, driven by an 8 per cent year-on-year (Y-o-Y) increase in sugar prices and a steady 2 per cent rise in consumption

Proposed duty on steel imports may lead to steep price hike in 2025: CRISIL

Steel prices in 2025 would be much higher than the last year if the proposed safeguard duty on steel imports is imposed by the end of next month, rating agency Crisil said on Wednesday. "Domestic prices are under pressure due to global steel price decline and are expected to remain soft in 2025. Prices have a 4-6 per cent upside potential hinged on implementation of the safeguard duty. "As mills ramp up production volume from the newly commissioned capacities, increase in supply will reduce flat steel prices, but will still be higher than average price of 2024. That said, intense competition among mills to gain market share could limit the upward movement," Vishal Singh, Director-Research at Crisil Market Intelligence and Analytics, said in a statement. The imposition of a safeguard duty proposed by the industry could be a positive here. Assuming it is implemented by the end of February, steel prices in 2025 would be much higher than 2024, with the impact more prominent in the first

Tomato, potato prices make home-cooked meals costlier in Dec: CRISIL report

Prices of home-cooked meals increased in December on dearer key kitchen staples like tomato and potato, a report said on Monday. The average cost of preparing a vegetarian thali was up 6 per cent at Rs 31.6 per plate in December when compared to the year-ago period's Rs 29.7, but was down from preceding November month's rate of Rs 32.7, the report by a unit of rating agency Crisil said. In the roti, rice, rate report which seeks to assess the common man's expenditure on food, Crisil found that a non-vegetarian thali cost was higher by 12 per cent on-year and 3 per cent on-month to Rs 63.3 in December. Explaining the reasons for the costlier food, the report said tomato prices were up 24 per cent at Rs 47 per kg in December, while potato surged 50 per cent to Rs 36 for a kg on a low base. A 16 per cent on-year increase in vegetable oil cost due to import duty hikes by the government aggravated it for the common man, it said. From an on-year perspective, an 11 per cent drop in LPG f

Auto component companies focus on new markets, products as growth slows

According to a recent CRISIL report, while replacement demand will provide some support, export growth is expected to taper compared to the previous year

CRISIL analysis: Three things that could curb bank credit growth this year

The RBI's increase in risk weights on bank lending to non-banking financial companies (NBFCs) and on unsecured loans has pruned credit growth in these segments

CRISIL analysis: IT services sector eyes 7-9% growth on BFSI, AI funding

A CRISIL Ratings study of the top 25 firms, accounting for 55 per cent of the Rs 14 trillion IT sector's revenue in fiscal 2024

Branded hotels to log 13-14% growth in FY25 on demand surge: CRISIL report

Branded hotels in the country are likely to see double-digit revenue growth of 13-14 per cent in 2024-25, and 11-12 per cent in the next financial year on demand surge, a report said on Thursday. While domestic leisure and business travel will continue to be the primary demand drivers, growing traction in the MICE (meetings, incentives, conventions and exhibitions) segment and pickup in foreign tourist arrivals will provide additional fillip, Crisil Ratings said in a report. The branded hotels segment registered a strong 17 per cent growth last fiscal, it added. To meet the increasing demand, the pace of room additions, which has increased since last fiscal, is expected to pick up further and majorly through the asset-light management contract route, it said. As a result, supply will increase by 20 per cent over this fiscal and the next, it added. Operating margin is expected to improve by 100-150 basis points (bps) this fiscal and sustain at similar levels in the next, it ...

Residential and commercial sectors to stand as pillars of resilience

Growth is expected to be stable on the supply side as well. With a stable outlook for both demand and supply, the year-to-sales indicator for inventory will continue to remain favourable

Indian policymakers must balance growth amid global energy, tech shifts

While the economy is expected to recover in the second half, growth for this full financial year will be slower than initially projected

CRISIL analysis: Sprint towards power sector's 500 Gw of green energy goal

As of October 2024, India's non-fossil base, including solar, wind, large-hydro and other renewables, surpassed 200 gigawatt (Gw)

CRISIL analysis: Exports, domestic demand to drive pharma sector's growth

Bulk drug exports are expected to see moderate increases, supported by volume growth from new launches, customised synthesis, and rising demand for complex drugs

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

Road InvIT AUM to rise 68% to Rs 3.2 trillion by Mar 2026: CRISIL Ratings

The assets under management of infrastructure investment trusts (InvITs) in the road sector are poised to surge 68 per cent to Rs 3.2 lakh crore by March 2026 from Rs 1.9 lakh crore as of September 2024, Crisil Ratings said on Thursday. The rating agency further said the growth will be fuelled by the expansion of existing InvITs' asset pool and the emergence of new InvITs. "The AUM (assets under management) growth will be accompanied by diversification in terms of geography and concession type, which will help build resilience," Crisil Ratings said, adding that this, along with leverage levels being under control, will keep credit profiles of road InvITs strong. Infrastructure Investment Trust (InvIT) is an instrument on the pattern of mutual funds, designed to pool money from investors and invest in assets that will provide cash flows over a period of time. According to the rating agency, the AUM growth will also bring diversification in terms of geographies and concession types.

High interest rates, fiscal consolidation slowing GDP growth: CRISIL

Some technical factors, such as net product taxes and the GDP deflator, have also disrupted GDP's trajectory

SBI Long Term Equity Fund: The Swiss Army knife toolkit for equity funds

The scheme aims for long-term capital growth by investing in a portfolio of equity securities while offering tax benefits under Section 80C of the Income-Tax Act, 1961