Page 9 - Crisil

India's copper industry has a new entrant, incumbents not worried

For 2022-23 (FY23), India's domestic copper production was estimated at half a million tonnes

Anil Agarwal's Vedanta appoints Ajay Goel as chief financial officer

Goel's last stint with Vedanta was as acting chief financial officer from October 2021 to April this year

Increased sugar prices to lift MSMEs' margins: CRISIL SME Tracker

Lower cane availability is expected to result in reduction in cane being diverted for ethanol production from 4.5 million tonne to 4 million tonne

Demand, supply mismatch pushing up vegetable inflation frequently: CRISIL

A study by rating agency Crisil found that vegetable inflation has been the most volatile in the food category, in fact.

India to spend Rs 143 trillion in infrastructure by 2030, says Crisil

Green investments will also see a five-fold rise from the past seven years to Rs 36.6 trillion

India Inc revenues to rise 8-10% in Q2, profit margins to expand: Crisil

India Inc is all set to report an 8-10 per cent jump in revenues for the September quarter while profit margins will also witness an expansion, an arm of rating agency Crisil said on Friday. This will be the first time in four quarters that the revenue growth will see an increase, it said. Automobiles, construction (which benefitted from truant monsoons) and information technology services sectors will be driving the revenue growth in the quarter, the rating agency said, adding that the year-on-year revenue growth in the preceding June quarter had stood at 7 per cent. The agency said its expectations are based on an analysis of 300 companies excluding ones in banking and oil sectors. "Growth in revenue was largely skewed towards consumer discretionary products and services, where automobiles and the retail sector led the pack, and construction-linked sectors, where companies accrued benefits from an early deployment of capital expenditure by the roads and railways ministries, Direc

India caught between Davids & Goliaths in global clean energy face-off

The US and Europe are offering 8 to 10 times more subsidies amounting to a massive $650 billion, around 18 per cent of India's gross domestic product

Bank credit growth to dip to 13-13.5% this year from 15.9% in FY23: CRISIL

Growth in wholesale credit, which makes up to 60% of overall credit, is likely to slow to 11-11.5% this year from a decadal high of 15% last year

Apparel retailers likely to register 7-8% revenue growth FY24: CRISIL

Organised sector brick and mortar apparel retailers are expected to register a 7-8 per cent revenue growth this fiscal, buoyed by festival and marriage season demand, and despite inflation impacting discretionary spending in the first quarter, according to a report. Continued store expansion, including into tier-II and III cities, will also help revenue growth this fiscal and over the medium term, Crisil Ratings said in a report on Wednesday. Despite moderation in topline growth, revenue growth will be comparable to the 8 per cent range seen before the pandemic, the report said. Last fiscal, retailers had seen a strong 38 per cent growth on a low base, driven by swift recovery from the pandemic-induced slump and higher realisations following a steep jump in raw material prices. Operating margins are seen at 8 per cent this fiscal as improving product mix in favour of the premium segment and lower input costs will offset the impact of higher marketing spends, the report said. The p

Led by festival season, revenue of apparel retailers to grow 7-8% in FY24

The revenue density, calculated as revenue per square feet, is, however, expected to remain below the pre-pandemic level: CRISIL

Paper industry revenue may dip 8-10% in FY24 despite volume gains: Crisil

Paper manufacturers' revenue may decline 8-10 per cent in the current fiscal despite gains in volume, as the average realisations are likely to soften on lower raw material prices and intense competition, rating agency Crisil said in a report. For FY24, the industry's total volume is expected to rise 5-7 per cent, similar to the last fiscal, and the operating margin will remain healthy at 18 to 19 per cent, ensuring a stable cash flow generation, it added. Moreover, modest capex spending undertaken -- mostly for debottlenecking and routine modernisation -- will help sustain credit risk profiles, as per the report. The Indian paper industry had reported revenue growth of 30 per cent a year before in FY23. "Indian paper manufacturers could see revenue decline of 8-10 per cent this fiscal, compared with a steep 30 per cent growth last fiscal, with average realisations expected to soften in keeping with lower raw material prices, and given intense competition," it said. The report is

Indian pharma industry to log in 8-10% revenue growth this fiscal: CRISIL

The Indian pharmaceuticals industry is expected to log in a revenue growth of 8-10 per cent in current fiscal aided by a steady domestic growth and increased exports to regulated markets, even as semi-regulated markets face headwinds, according to a report. A study of 186 drug makers, which accounted for about half of the Rs 3.7 lakh crore annual revenue of the sector last fiscal, indicates as much, Crisil said on Monday. "Similar to last fiscal, domestic growth in fiscal 2024, will be led by 5-6 per cent increase in realisations, supported partly by high price hikes allowed by the National Pharmaceutical Pricing Authority (NPPA) for drugs under price regulation," Crisil Research Director Aniket Dani said. In addition, sale of existing drugs and new launches will drive 3-4 per cent volume growth, he added. Operating profitability is also seen improving 50-100 basis points (bps) to 21 per cent this fiscal, supported by moderation in input and logistics costs, and abating pricing ...

Balrampur Chini Mills is expecting 20% higher revenues in FY24: CFO

Sugar prices are on a high with a fall in production primarily due to unseasonal showers in key growing areas of Maharashtra and Karnataka in March

Tomato prices pushed cost of vegetarian thali up 24% in August: CRISIL

For non-veg thali, the cost was up 13 per cent. It was lower than that of a veg thali owing to a marginal rise in broiler prices

Crop vulnerability grows with fickle rains, shows CRISIL's DRIP index

DRIP scores for these crops are worse than their respective averages in the previous five years

Road, renewables capex likely to rise by 35% in FY24 & FY25: CRISIL

The total capital outlay for roads and renewables in 2023-24 and 2024-25 is likely to jump by 35 per cent to Rs 13 lakh crore compared to that in the last two fiscal years, according to a report. Conducive policies, rising investor interest and strong execution speed are expected to drive the capital outlay in the sectors, the report by Crisil Ratings said on Tuesday. The pace of road construction and capacity addition in renewables is seen growing by 25 per cent and 33 per cent, respectively, in the current and next fiscal, and the capex growth is expected to sustain over the medium term, the report said. Crisil Ratings Managing Director Gurpreet Chhatwal said the pace of execution of renewable energy projects is set to increase 33 per cent to 20 GW per annum over the current and next fiscal as compared to 15 GW per annum in the past two fiscal years, supported by a healthy executable pipeline of 50 GW of projects as of March 2023. Similarly, road construction is set to improve 25

MSMEs in steel sector get an India build-out lift: CRISIL SME Tracker

MSMEs in the steel sector mostly manufacture long steel products such as rebars and wire rods using induction-based furnaces and raw materials such as steel scrap and sponge iron

ARPU of Indian telcos to rise 8-10% to Rs 190 this year, says CRISIL

CRISIL added that the operating profits of these companies could record a 15 to 17 per cent rise to Rs 1.2 trillion this year from Rs 1.04 trillion in 2021-22

Social welfare spending by states to touch 10-year high this year: CRISIL

CRISIL added that the rise in allocation towards social welfare has coincided with a moderation in the growth of revenue receipts, resulting in continuing revenue deficits for the states

Rural demand to boost revenue of hosiery industry by 18-20% in FY24: Crisil

The Indian hosiery industry is likely to witness 18-20 per cent revenue growth to Rs 36,000 crore this financial year, supported by the revival in rural demand, a report said on Monday. Rural demand, which accounts for almost half the domestic revenue, was impacted last fiscal amid rising inflation and lower farmer income and as a result, the overall volume declined by 30 per cent year-on-year, a report by Crisil Ratings said. "This fiscal, urban demand is expected to remain stable, while a well distributed monsoon and probable inflation moderation should boost rural demand, leading to a recovery of 35-40 per cent in volume. Potential export opportunities, especially to Gulf countries, could bump up volume further," Crisil Ratings Director Rahul Guha said. The Comprehensive Economic Partnership Agreement (CEPA) signed by the government with the UAE could boost textile segment exports, especially of hosiery. Tailwinds from the agreement could add 2-3 per cent to hosiery exports from