Page 6 - Crisil

CRISIL SME Tracker: Steel MSMEs may see softer growth this financial year

Despite this, growth is still projected to exceed decadal averages and will continue to be aided by demand from infrastructure and construction segments

Cement sector to invest Rs 1.25 trillion as capex by FY27: CRISIL

The agency said an analysis of 20 cement makers, accounting for over 80 per cent of the industry's installed cement grinding capacity as of March, indicates the stated capex combined

FMCG sector to see 7-9% revenue growth this fiscal: CRISIL Ratings

The fast-moving consumer goods (FMCG) sector is expected to see revenue growth of 7-9 per cent this fiscal, according to a report released by CRISIL Ratings on Saturday. The expected revenue increase this financial year (2024-25) will be supported by higher volume growth on the back of a revival in rural and steady urban demand. The estimated growth of the FMCG sector in 2023-24 was 5-7 per cent. The report said product realisation is expected to grow in single digits with a marginal rise in prices of key raw materials for the food and beverage (F&B) segment. However, the prices of key raw materials for the personal care and home care segments are likely to be stable. CRISIL Ratings Director Rabindra Verma said, "Revenue growth will vary across product segments and firms. The F&B segment is expected to grow 8-9 per cent this fiscal, aided by improving rural demand. The personal care segment is likely to grow by 6-7 per cent, and the home care by 8-9 per cent." The FMCG players

Costlier veggies make vegetarian thali dearer by 10% in June: CRISIL

The overall hike in vegetarian thali prices was attributed to a 30 per cent increase in prices of tomato, 59 per cent in potato and 46 per cent in onion

FMCG sector may see 7-9% revenue growth in FY25 on rural recovery: CRISIL

The fast-moving consumer goods (FMCG) sector is expected to see a revenue growth of 7 to 9 per cent this fiscal, helped by higher sales volume and a revival of rural markets, Crisil Ratings said in a report. Volume growth from urban consumers will also remain steady at 7 to 8 per cent supported by rising disposable incomes and continued focus on premium offerings by the industry players, especially in the personal care and home care segments, it said. Moreover, the premiumisation trend and growth in volume will expand the operating margin of FMCG companies "by 50-75 basis points to 20-21 per cent", it said. "The margin expansion would have been higher but for rising selling and marketing expenses amid heightened competition among organised and unorganised players alike," the report added. The product realisations in FY25 are "expected to grow in low single digits with a marginal rise in prices of key raw materials for the food and beverages (F&B) segment", however, key raw ...

UTI Money Market Fund is conservative by nature but bold in returns

The fund's month-end assets under management increased to Rs 11,680 crore in March 2024 from Rs 6,800 crore in March 2021

CRISIL SME TRACKER: Road SME players' margins may remain stable in FY25

In FY24, state spends are expected to go up further by 8-12 per cent as their percentage achievement of budgetary allocations are expected to be largely in line with historical average

HDB Financial Services to reissue Sept 2027 bonds, eyes to raise Rs 500 cr

The company will offer a yield of 8.35 per cent on this issue, and has invited bids from bankers and investors on Monday

Avanti Feeds zooms 9.5% on June 18; stock may top Rs 700-mark; details here

Avanti Feeds share break out: After staying range-bound since the start of the year, Avant Feeds stock price broke out of the consolidation phase on June 7

Inflation expected to average 4.5% for current fiscal year: CRISIL

Leading ratings and economic research firm CRISIL is of the view that inflation is expected to average 4.5 per cent for the current financial year. "Assuming a normal monsoon, we expect food inflation to soften, while non-food inflation could see an uptick but is expected to remain soft on the back of benign commodity prices," CRISIL said. The rating firm said that consumer price index (CPI) inflation moderated marginally to 4.75 per cent in May from 4.8 per cent in April 2024. "Non-food categories pulled down the headline inflation, but what is worrying is the relentless inching up of food categories, cereals and pulses", the CRISIL report said. Food inflation had stayed above 8.5 per cent for four months now, and non-food inflation continued to offer some respite, it said. The report maintained that there could be some rebalancing in domestic demand in the current fiscal with rural demand catching up with urban consumption. According to the report, the expectation of an above-n

Crisil Ratings upgrades outlook on Thomas Cook India to 'positive'

Crisil Ratings on Thursday revised its outlook on the long-term bank facilities and corporate credit rating (CCR) of Thomas Cook India (TCIL) to 'positive' from 'stable'. The rating agency has also reaffirmed the ratings at 'CRISIL AA-/Positive CRISIL A1+', Crisil Ratings said in its report. The revision in outlook follows the rating upgrade on the loan facilities of the parent Fairfax Financial Holdings (Fairfax) by S&P Global Ratings to 'BBB+/Positive' from 'BBB/Watch positive'. The rating upgrade by S&P Global Ratings was due to material strengthening in Fairfax's capital adequacy at 2023-end, boosted by strong earnings and diversification credit under its revised criteria, it added. Besides, the rating action also factored in improvement in the Thomas Cook India group's overall operating performance, driven by strong growth in revenue, which is expected to be sustained over the medium term, and structural reduction in cost, leading to better operating margin and return on .

Crisil upgrades its outlook on Inox Wind's bank facilities to stable

Inox Wind Ltd on Wednesday said Crisil has upgraded its outlook on the company's long-term and short-term bank facilities. Crisil has upgraded rating for long-term bank facilities to 'Crisil A/Stable' from 'Crisil A-/Stable', while on company's short-term bank facilities, the agency has upgraded ratings to Crisil A1 from Crisil A2+, Inox Wind said in an exchange filing. Kailash Tarachandani, CEO of Inox Wind, said: "The latest ratings upgrade by Crisil is an outcome of all the efforts undertaken by the company in the recent past. We have successfully raised funds to strengthen our balance sheet and also ramped up our operations." Inox Wind has an order book of 2.7 GW of wind power projects.

Fund Pick: HDFC Flexi Cap Fund has a rich history of outperformance

The fund's month-end assets under management (AUM) increased to Rs 50,840 crore in March 2024 from Rs 23,128 crore in March 2021

High property prices to boost debt recovery from realty projects: Report

Recovery of debt from stressed residential realty projects is set to increase in the current financial year due to higher property prices as well as changes in rules, a report said on Monday. The bad loan recovery rate is estimated to touch 16-18 per cent at the end of FY25 from 11 per cent as on March 31, 2024, domestic rating agency Crisil said in a report. "This will be driven by improved viability of stressed projects due to healthy demand and price appreciation seen in residential real estate and greater investor and promoter interest in reviving such projects," the agency said. It added that recent amendments to the Insolvency and Bankruptcy Board of India (IBBI) regulations for real estate projects should also strengthen resolution of stressed real estate assets in the medium term. The agency said it analysed the performance of its portfolio comprising security receipts of Rs 9,000 crore from 70 stressed realty projects with a saleable area of 66 million square feet while ..

Costlier vegetables made your thali more expensive by 9% in May: CRISIL

A vegetarian thali has roti, onion, tomato, potato, rice, dal, curd, and salad. A non-vegetarian thali has the same foods but chicken (broiler) replaces dal

Bank credit growth to moderate to 14% in FY25 after robust growth: CRISIL

Higher risk weights, base effect, deposit challenge may weigh on growth

Why more Indian airlines will fly international routes by FY28

If you're a travel enthusiast, here's some exciting news: Soon, you'll spot more Indian airlines flying international routes. According to CRISIL, a credit ratings agency, Indian carriers will handle

Securitisation market booms as shadow banks diversify funding sources

Sector is expected to grow further as credit demand grows, say senior executives

CRISIL SME Tracker: Equations getting better for chemicals MSMEs

Agrochemicals margins could normalise from the second quarter due to destocking of high-cost inventories

Crisil ESG Ratings receives market regulator Sebi approval for ESG scoring

The rating provider launched its ESG scoring business in 2021 and now tracks over 1,000 companies across 65 sectors