Crisil Report

India Inc revenue growth at 2-year high of 11-11.5%, margins fall: Crisil

Corporate revenue is estimated to have grown 11-11.5 per cent in the June quarter as companies raised prices, but higher fuel and freight costs squeezed margins

Where should you buy a home? Crisil maps India's emerging housing hotspots

Tier-2 housing demand rises 14% CAGR; affordability becomes key concern

MFI AUM projected to grow at 20% in FY27 on secured loans: Crisil Ratings

Rating agency says diversification into gold, MSME and property-backed loans, along with a recovery in microfinance disbursements, will drive growth this fiscal

India Inc profit hit from West Asia crisis to halve if truce holds: Crisil

The profitability impact of the recent West Asia conflict on corporate India is likely to be about half as severe as initially feared if the US-Iran ceasefire holds and energy supplies continue to normalise, Crisil Ratings said. The ratings agency said it now expects the conflict to shave around 100 basis points off India Inc's operating margins in fiscal 2027, compared with its earlier estimate of a 200-basis-point hit under a prolonged conflict scenario that included disruption to shipping through the Strait of Hormuz. The revised outlook follows a sharp correction in crude oil prices after the reopening of the Strait of Hormuz under a fragile US-Iran memorandum of understanding, although Crisil cautioned that geopolitical risks remain elevated and gas supplies could take longer to normalise. "If the armistice sustains, two-thirds of the 34 sectors (we assessed) will see minimal disruption, with margin recovery in the second half mostly offsetting pressures of the first half," sai

ECLGS 5.0 could raise debt levels of rated corporates by around 10%

Crisil Ratings says ECLGS 5.0 could add around 10% debt to rated companies as firms seek funding support to manage higher working capital needs amid the West Asia conflict

Crisil stress test reveals sectors facing risk, and those less affected

Crisil states 22 of the 34 sectors stress-tested could see operating profitability decline by over 10 per cent as companies may not be able to fully pass on higher costs to consumers immediately

West Asia turmoil may dent India Inc margins by 200 bps in FY27: Crisil

The rating agency said that only eight sectors, accounting for around 10 per cent of rated corporate debt, were expected to see a material impact on credit quality

Passenger vehicle sales seen hitting record 5.9 mn units in FY27: Crisil

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

India's cash transfer boom is a new safety net for millions: CRISIL

Crisil says expanding cash transfer schemes are supporting low-income households, but rising state borrowing and fiscal pressures could challenge their long-term sustainability

Electronics MSMEs to get lift from PLI push, high demand: SME Tracker

Mobile phones, consumer electronics and industrial electronics together account for 55-60% of electronics sales in India

Packaging costs to dent alcobev margins by up to 200 bps, says Crisil

Alcobev firms may see margins shrink 150-200 bps and growth slow as glass bottle shortages and rising packaging costs, driven by LNG disruptions, weigh on operations

Infra investments to grow 50% through FY28 despite West Asia crisis: Crisil

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

NBFCs' reliance on bank borrowings to rise in FY27 on lower rates: Crisil

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

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