Page 11 - Crisil

Power demand rises 7% in March quarter on robust economic activity: Report

Power demand in the country rose 7 per cent on an annual basis in the three months ended March, according to a report. Rating agency Crisil in its latest report also said that in March, there was a year-on-year decline of 1.3 per cent in power demand. "Although the month (March) saw a decline in demand, the fourth quarter of fiscal 2023 witnessed a 7 per cent on-year growth as January and February had seen demand grow 13.7 per cent and 10 per cent, respectively," it said. The growth in the March quarter was led by increased heating requirement in winter months and robust economic activity, it added. The report also said that despite the drop in power demand in March, prices increased 13 per cent on-year in the fourth quarter of last fiscal. As per the report, in fiscal 2024, soaring temperature and resilient economic activity are expected to keep power demand growing. On average, the first quarter of this fiscal should see power demand grow 4 per cent on-year on a high base of th

Power demand in India shrinks in March thanks to unexpected rains: CRISIL

The fall in demand also led to a fall in power generation by 7 per cent YoY in March as compared to the same month last year

Bank NPAs to improve to decadal low of 3.8% by FY24-end, says Crisil

Banks' gross non-performing assets (NPAs) will reduce further to a decadal low of 3.8 per cent by end of FY2023-24, credit rating agency Crisil said on Monday. The agency estimates NPAs to reduce to 4.2 per cent by end of the just concluded FY23 as against 5.9 per cent in the year-ago period. It had earlier estimated NPAs to come at 4 per cent by end of FY24. Crisil said a major factor influencing the bank NPAs is the improvement in the high-value corporate loanbooks, where the gross NPAs are slated to come below 2 per cent. Corporates have been reducing their leverage through a string of measures, including prepayment of loans as well. Additionally, strengthened risk management and underwriting is also helping the lenders towards lowering the NPAs, the agency said. When asked about the growing trend of writing unsecured loans in the retail segment, the agency's deputy chief rating officer Krishnan Sitaraman said they occupy a very small proportion of the overall loans. He said 26

India Inc's credit quality outlook positive for FY24, say Crisil and Icra

Interest rate hikes, global slowdown, stubborn inflation pose risk

Indian IT services firms likely to post muted revenue growth in Q4

FY24 revenue growth may decline by 700-900bps: CRISIL Ratings

Revenue growth of IT firms in FY24 to be 7-9% lower than FY23: CRISIL

The key reason for the sharp fall in revenues is the slowdown in the BFSI segment, which accounts for 30% of the sector's revenues

Domestic steel demand will continue to see healthy growth till FY25: CRISIL

The domestic stainless steel demand is expected to grow at a compound annual growth rate (CAGR) of 9 per cent till 2024-25 financial year, according to Crisil Ratings. The domestic demand for stainless steel was at 4 million tonnes (MT) in fiscal 2021-2022, the ratings agency said in a report on Thursday. "Domestic demand for stainless steel is projected to log a healthy compound annual growth rate of 9 per cent in the three fiscals through 2025, double the 4.5 per cent pace of the past five fiscals," the Crisil Ratings report said. The demand will be driven by increasing adoption of stainless steel in railways which is a focus area for government infrastructure spending, and rising application in the automobile and construction sectors. The demand growth, in turn, will spur capacity additions. However, the credit profiles of players are expected to remain comfortable, given stable profit levels and healthier balance sheets. "Adoption of stainless steel is increasing because of i

CRISIL lowers outlook on Adani Airport Holdings from 'stable' to 'negative'

The outlook revision indicates that the standalone credit profile of AAHL may weaken

CRISIL revises outlook on Vedanta's loans from 'stable' to 'negative'

The change reflects the possibility of higher-than-expected financial leverage and lower financial flexibility with reducing ratio of cash surplus to one-year maturities for FY23 and FY24

Toll operators in India to see a revenue jump of 16-18% in FY23: CRISIL

In FY24, the revenue growth will continue to be strong, but it will be a lower 9-11 per cent

Tractor sales growth to halve in FY24, operating margins to improve: CRISIL

However, softening prices of inputs such as steel and pig iron will provide a 100-200 basis points (bps) respite to the operating margin of tractor makers

Expect India's GDP to moderate to 6% in FY24: CRISIL MD & CEO Amish Mehta

Amish Mehta discusses the factors behind this downgrade and road ahead for the Indian economy

Keep 'margins of safety' amid global turmoil, says CEA Nageswaran

Nageswaran says IMF's latest estimates for global growth appear outdated

Economic growth to moderate to 6% in FY24, inflation may ease: CRISIL

Full impact of RBI's rate hikes will be next fiscal, says agency while citing three reasons for economy slowing

Global environment gloomier, India to grow at 6% next year: CRISIL

CRISIL said that the risks to inflation are 'tilted upward' due to the predictions of El Nino over the next couple of months

5G adoption to take time, only a third of users may switch by March 2025

High cost of 5G devices and readily available 4G network shaping users' behaviour

CRISIL reaffirms ratings for Adani Group's solar, wind power units

The shares of listed Adani group companies have witnessed huge volatility in prices after US-based short-seller Hindenburg's research report

Power prices likely to remain firm next fiscal amid higher demand: Crisil

Power prices are expected to remain firm next fiscal on the back of elevated demand growth of 5.5-6 per cent, and the demand is set to close this fiscal up 9.5-10 per cent over 8.2 per cent last fiscal, a report said on Thursday. The fears of a heat wave has seen the short-term power prices soaring by a full 151 per cent. This was on the back of a 42 per cent on-year spike in prices in February, Crisil said in a report. The demand growth would mark a decadal high rate of growth and almost double the 20-year average of 5.2 per cent, the report added. The report noted that demand growth weighed in at 7.7 per cent in February and averaged 10 per cent for the 11 months of the current fiscal despite a high base of fiscal 2022 due to extreme weather events and robust industrial and manufacturing activity. March is unlikely to see any let up amid early warnings on possible heat waves in northern and central regions this summer, the report said. According to Hetal Gandhi, a director with

Commercial spaces re-open vistas for security service firms: CRISIL

Private security players' key service offerings include manned guarding, cash management services, and allied services such as electronic security services

Hot temperature to heat up prices, reduce wheat yield, says CRISIL report

The hot temperature if persists in March may not only reduce the wheat crop yield but also heat up the commodity prices, said CRISIL.