Page 2 - Crisil

India's headline inflation likely to average 3.5% in FY26: Crisil

Ratings firm Crisil said that headline inflation is expected to average 3.5 per cent this fiscal as compared to 4.6 per cent in the last financial year. In its research report for August, the rating agency said that healthy agricultural production is likely to keep food inflation in check. The kharif sowing is up a healthy four per cent year-on-year as of August 8. "We expect headline inflation to average 3.5 per cent this fiscal from 4.6 per cent in the last," Crisil said in its research report. Headline inflation is defined as a rise in prices of all items in the CPI, including food and energy. Assuming geopolitical uncertainties remain under control, Brent crude oil prices are projected to be subdued at USD60 to USD65 per barrel in the current financial year, which should help contain non-food inflation, the report said. Crisil said another bout of repo cut is expected this fiscal. A cumulative cut of 100 basis points so far, along with adequate liquidity, has ensured a swift

NTPC Green plans ₹2,000-3,000 cr bond sale after RBI policy decision

A unit of the nation's largest power generator, the company is weighing an issuance of ₹2,000 crore ($228 million) to ₹3,000 crore rupees through five- or 10-year note

India's top 18 states' revenues to grow 7-9% in FY26, says Crisil report

Crisil forecasts 7-9% revenue growth for India's top 18 states in FY26, driven by GST, liquor sales, and Centre support, with slower growth than the 10% decadal average

India's 3rd largest airport operator eyes Oct close for over $500 mn bond

BIAL will raise the funds through its second tranche at a similar rate as the first transaction

IBC enabled debt resolution of ₹26 trillion in 9 years, says Crisil

The Insolvency and Bankruptcy Code (IBC) has led to the resolution of Rs 26 trillion in debt over nine years, creating significant deterrence among borrowers and offering flexible resolution framework

Tyre industry revenue to rise 7-8% in FY26 on replacement demand: Crisil

The domestic tyre industry is expected to witness revenue growth of 7-8 per cent this fiscal year, driven by replacement demand that accounts for half of annual sales, according to a report by Crisil Ratings. The segment is expected to post growth even as offtake by original equipment manufacturers (OEMs) is likely to be subdued, the report stated. It also noted that the rising premiumisation is expected to give a slight leg-up to realisations. However, escalating trade tensions and the risk of dumping by Chinese producers diverting inventories because of US tariffs could pose challenges, the report stated. Operating profitability is likely to remain steady at 13-13.5 per cent, supported by stable input costs and healthy capacity utilisation, it said. This, along with strong accruals, lean balance sheets and calibrated capital spending should help sustain the sector's stable credit outlook, the report stated. "Our analysis of India's top six tyre makers, catering to all vehicle .

CPI inflation to average 4% in FY26, down from 4.6% in FY25: Crisil

Rating agency Crisil, in its latest research report, said that the consumer price index (CPI)-based inflation is expected to average four per cent this financial year, as compared to 4.6 per cent last fiscal. The agency said that food inflation is expected to be softer given the forecasts of above-normal monsoon by the Indian Meteorological Department (IMD). Non-food inflation is expected to be subdued on the back of lower commodity prices, the report said. CPI is the key measure used by the Monetary Policy Committee (MPC) of the RBI for targeting inflation. According to Crisil, GDP growth is seen at 6.5 per cent with downside risks. The tariff moves by the US are seen as a risk for exports, while domestic factors like an adequate monsoon and repo rate cuts will be supportive of growth, the agency said. There is supportive liquidity in the system, which should aid the financial conditions of the economy, but capital flows are expected to be volatile along with the rupee, the repo

Private sector debt recast firms' AUM may further shrink, says CRISIL

CRISIL forecasts a 4-6% drop in AUM for private asset reconstruction companies (ARCs) in FY26 due to subdued acquisitions of stressed loans and potential disruptions from loan securitisation

Debt securitisation volume rises to ₹49,000 crore in April-June quarter

Total number of originators in these securitisations, wherein a lender hands over future receivables on a single or a bunch of loans to a new entity usually on a discount, was around 90, Crisil report

Sillverton Industries files for IPO with Sebi, seeks to raise ₹300 crore

Eco-friendly paper manufacturer Sillverton Industries has filed draft papers with markets regulator Sebi seeking its approval to garner funds through an initial public offering (IPO). The proposed IPO is a combination of fresh issuance of shares worth Rs 300 crore, and an offer-for-sale of 3.22 crore equity shares by promoters, according to the draft red herring prospectus (DRHP) filed on Friday. Proceeds from the fresh issue to the tune of Rs 129.4 crore would be used towards capital expenditure for sustainability initiatives at the existing manufacturing facility, such as the installation of a 14 MW waste-to-energy captive power plant and a compressed bio gas plant. An additional Rs 25.25 crore will be used to enhance the rewinder and sheeter capacity and to construct in-house warehouses at the existing facility, Rs 72 crore for the payment of debt and the remaining funds for general corporate purposes. Sillverton Industries is into manufacturing and marketing of eco-friendly ..

Fund Pick: Aditya Birla Sun Life outrunning rate hounds tactically

Nimble duration calls gave fund agility to sidestep rate shocks and seize yield pockets

Impact of West Asia conflict on India Inc so far is limited: Crisil Ratings

CRISIL Ratings in its latest report said that the ongoing conflict in the Middle East so far did not have any significant impact on global trade of Indian corporates. However, if the uncertainties aggravate, some sectors might feel the impact, the report said. The uncertainties have impacted global crude markets, with the Brent crude hovering in the range of USD73 to USD76 per barrel over the past one week. During April and May, the Brent crude was hovering around USD 65 per barrel. Any escalation of the tensions could result in further spike in oil prices, the report said, adding that this will benefit upstream oil companies and margins for the downstream refiners will get squeezed, according to the report. It said India's direct trade with Israel and Iran, the two countries engaged in the conflict, is minuscule at less than one per cent of total trade. While India's major export to Iran is basmati rice, trade with Israel is more diversified, the report added. Any escalation of

Crisil acquires minority stake in Online PSB Loans Ltd for ₹33 crore

Crisil, the provider of ratings, data, research, analytics and solutions, has invested Rs 33.25 crore to acquire a minority stake in Online PSB Loans Ltd (OPL). In December 2024, Crisil had announced its intention to invest. OPL is a digital credit infrastructure company that develops and integrates advanced technologies, transforming the credit ecosystem through end-to-end automation, Crisil said in a regulatory filing. The company facilitates ease of credit delivery to micro, small and medium enterprises (MSMEs) and retail borrowers through unique analytics and artificial intelligence/machine learning-based solutions, enabling faster credit decision making, it said. OPL's offerings enable financial institutions to enhance their MSME lending infrastructure, it said. The platform's existing group of shareholders include several prominent financial institutions, including public and private sector banks, credit bureaus and government organisations.

High gold prices, mobile tariffs pushing core inflation, says Crisil

Crisil says core inflation rose due to global volatility, driven largely by gold prices, while headline inflation fell to a 75-month low of 2.8% in May amid easing food prices

Debt recovery in stressed realty assets to improve to 38% in FY26: Crisil

These projects have benefited from strategic debt restructuring facilitated by Asset Reconstruction Companies (ARCs)

Trading ideas: 5 largecap stocks with up to 18% upside potential

Technical charts show that largecaps stocks - Adani Total Gas, LTIMindtree, Jindal Stainless, RECL and CRISIL are favourably placed for likely gains in the near term.

Emerging diversified construction firms set for stable FY26 growth: Crisil

Emerging diversified construction firms are expected to witness stable growth in 2025-26, with revenues projected to rise by 9-11 per cent, Crisil Ratings said on Tuesday. Healthy order books, driven by the timely execution of projects, supporting their credentials, have resulted in the continued scale-up of operations, it said. "Emerging diversified construction companies will continue to see steady growth this fiscal, with revenues growing 9-11 per cent compared with a 15 per cent compounded annual growth rate in the five fiscals through 2025," it said in a statement. However, limited ability to pass on the impact of sharp commodity price fluctuations and stronger competition will limit the operating margins to 10-11 per cent. While the working capital requirements of emerging construction companies will be higher on-year, it will be funded mainly by better cash flows and risk management practices, thus limiting fund-based working capital bank borrowings. Timely execution of a ..

SME Tracker: Electronics MSMEs to get boost from PLI, domestic demand

Additional boost is expected from the recently approved Electronics Component Manufacturing Scheme, which aims to achieve self-reliance in the electronics supply chain and foster a robust ecosystem

CRISIL SME Tracker: Global uncertainties to hit chemical manufacturers

MSMEs, which account for 25-30 per cent of the industry revenue, are expected to see growth moderate to 4-6 per cent in FY26 compared with 5-7 per cent last financial year

Crisil puts IndusInd Bank's long-term debt instrument on 'rating watch'

CRISIL puts Rs 5,500 crore worth of IndusInd Bank's bonds on rating watch with negative implications amid top exits, MFI audit, and Rs 1,960 crore derivatives loss