Crisil Report

Housing sales value growth to moderate slightly to 4-6% in FY27: Crisil

Growth in housing sales value is set to moderate in FY27 amid flat demand and slower price increases, though strong collections and premium segment demand will support developers

Fertiliser output may fall 10-15% if West Asia crisis persists: Crisil

India's annual domestic output of urea and complex fertilisers is likely to decline by 10-15 per cent due to supply chain disruptions caused by the ongoing conflict in the Middle East, a Crisil Ratings report said on Thursday. "The ongoing issues in the Middle East could disrupt the fertiliser supply chain at a crucial time for the kharif season. Disruption in LNG and ammonia supplies continuing for about three months could cut domestic urea and complex fertiliser production by 10-15 per cent," Crisil Ratings Director Anand Kulkarni said. However, he said the impact on production will be cushioned to some extent by the recent government directive allocating 70 per cent of gas to urea manufacturers. He added that the fertiliser inventory of around three months, along with expected imports from alternative sources, will mitigate the risk of immediate supply shortages. Further, Crisil Ratings said the increase in prices of raw materials and imported fertilisers is likely to increase .

Security services industry set to rebound but challenges persist: Crisil

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

Over 35 GW renewable capacity may face grid curtailment in FY27: Crisil

Crisil warns over 35 GW renewable capacity may face curtailment in FY27 due to slow transmission rollout, with TGNA projects bearing the bulk of the risk

Crisil projects 7.1% growth for India in FY27, flags West Asia crisis

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

Iran war set to hit output in sectors dependent on oil and gas: Crisil

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

Strong demand, low credit costs to keep gold-loan NBFC profits healthy

Crisil Ratings expects gold-loan NBFCs to maintain strong profitability as rising demand, better operating leverage and benign credit costs support returns over the next two fiscals

India's January power demand hits 16-year high at 143 billion units

Peak power demand in January touched 245 gigawatt (Gw), surpassing the previous summer peak of 243 Gw recorded in June last year

Iran unrest has had minimal impact on Indian companies so far: Crisil

Domestic credit ratings agency Crisil on Wednesday said the unrest in Iran has not had any impact on Indian companies so far. However, if the tensions persist or escalate, leading to rise in crude prices, companies in oil refining, aviation and crude-linked sectors like specialty chemicals, paints, petrochemicals and synthetic textiles may be impacted, it said. "The ongoing unrest in Iran has not had any significant impact on India Inc's global trade, or the credit profiles of domestic corporates thus far," it said. Pointing out that Iran accounts for over 4 per cent of the global crude oil supply, the agency said any escalation that disrupts its production could spike prices and the same should be watched closely by a country like India that is dependent on imported crude. "While India's direct dependence on Iran for crude-linked products is low, any sharp rise in crude oil prices will have a cascading impact on sectors such as oil refining, aviation, specialty chemicals, paints,

Educational institutions' income to rise 11-13% in FY26, FY27: Crisil

The report added that operating margins are expected to remain steady at 27 to 28 per cent as these institutions will incur higher staff salaries and other related costs

Education institutions to see 11-13% income growth in FY26-27: Crisil

Educational institutions' are likely to witness 11-13 per cent growth in total income in the current fiscal year and the next, driven by rising enrolments and fee hikes across segments as schools and colleges capitalise on steady demand and improving realisations, a report said on Monday. Operating margins will be steady at 27-28 per cent as these institutions will incur higher staff salaries and other related costs, Crisil Ratings said in a report. With rising enrolments, the institutions will also incur capital expenditure to create additional capacity and improve infrastructure, the report said, adding that credit profiles will, however, remain stable as strong cash flows will limit reliance on external debt. "Overall income is expected to log healthy double-digit (11-13 per cent) growth over the next few fiscal years, mainly supported by fee revisions, along with growth in enrolments, albeit at a modest rate. "Fee escalations are primarily driven by higher inflation, especially

Issuance of security receipts by ARCs drop, redemptions jump: Crisil

ARCs will see their revenue mix continue to tilt towards recovery-linked income, away from primarily management fee-driven income, said Crisil

'Cohesive regulation key to boost investor confidence in non-fossil fuels'

A cohesive national and state-level regulatory framework that gives investors long-term confidence is essential for the country to meet its non-fossil goals, according to a CRISIL expert. The government has an ambitious target of having 500 GW non-fossil fuel-based power generation capacity by 2030. Non-fossil fuel capacities include sources like solar, wind, biomass, waste-to-energy, hydro projects etc. "Achieving India's 500 GW non-fossil target will require a cohesive national and state-level regulatory framework that gives investors long-term confidence," a statement issued by FICCI said, quoting Ashish Mittal, Director, Energy & Commodities, CRISIL. Cap-and-floor mechanisms, viability gap funding and storage-as-a-service models will be critical to de-risk investments and unlock private capital at the scale India now needs, he said at FICCI's India Power and Energy Storage Conference on Wednesday. On energy storage, Ashok Sharma, the Deputy Managing Director, State Bank of .

AIF lift beckons: Domestic institutions can unlock next level of growth

AIF lift beckons Domestic institutions key to unlocking next level of growth for the industry and, thereby, the economy

Power demand dips in November as temperatures fall; coal output declines

India's power demand dipped 0.3% to 123 BUs in November amid lower temperatures, even as peak demand hit a record 216 GW, with RE and hydro generation rising and coal output falling

State capital outlay to rise 4-6% but stays below long-term average: Crisil

Capital outlay of states is expected to grow from four per cent to six per cent in the current financial year touching approximately Rs 7.5 lakh crore, Crisil Ratings said in its report on Friday. This would be lower than seven per cent in the last financial year and well below the decadal average of 11 per cent as rising revenue deficits are limiting financial flexibility, the report said. Water supply and sanitation, including housing and urban development and irrigation, will continue to be the main drivers of the capital expenditure, the report said. The top 18 states will account for 94 per cent of capital outlay of the states. According to the report, rising revenue deficit of the states are due to slow pace of growth due to moderation in GST rates post rationalisation, slowing devolution from the Centre and lower nominal GDP growth driven by easing inflation. On the other hand, revenue expenditure is set to grow sharply by seven per cent to nine per cent, driven by committe

US, West Asia LPG routes show wide cost differences for India: Crisil

The recent US-India LPG import pact marks a major shift in supplier diversification, reducing dependence on West Asian cargoes, though freight-linked cost sensitivities may affect OMC economics

Mall operators expected to clock revenue growth of 12-14% in FY26: Report

Crisil expects mall operators to post strong revenue growth in FY26, driven by new mall additions, robust occupancy, reduced GST rates and improved consumption trends

Data centre operator revenue to reach ₹20,000 cr by FY28: Crisil Rating

The report highlighted that to cater to buoyant demand, capacity in the industry is expected to double to 2.3-2.5 gigawatt (GW) by March 2028

India's merchandise exports drop 11.8% in Oct after US tariff hike: Crisil

India's merchandise exports fell 11.8 per cent year-on-year, since August 2024, to USD 34.38 billion in October, Crisil said in its report. This follows a 50 per cent increase in US tariffs on August 27 this year, a move that has subdued exports for the second month in a row, the report said. The decline in exports was broad-based across petroleum products, gems and jewellery and core sectors. Petroleum products exports declined 10.4 per cent year-on-year in October, compared to a growth of 15.1 per cent in September. Similarly, core exports slipped to 10.2 per cent compared to 6.1 per cent growth in September 2025, the report said. Merchandise exports to US decreased 8.6 per cent year-on-year to USD 6.3 billion in October. This was an improvement from the 11.9 per cent decline in September, according to the report. The announcement by the US on November 16 to cut tariffs on 254 food items bodes well for some of the agricultural exports, such as tea and spices, the report ...