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ICRA

Cotton yarn industry expected to spin back to recovery in FY25: ICRA

The domestic cotton spinning industry will recover in FY25, growing 6-8 per cent, rating agency ICRA said on Wednesday. The recovery will be aided by 4-6 per cent volume growth and mild-realisation gains, the rating agency said. The estimated recovery would follow two consecutive years of de-growth on the back of subdued domestic demand and falling yarn realisations. Over two-thirds of the total cotton yarn produced is consumed domestically, where green shoots of recovery are visible from the downstream segments, such as ready-made garments and home textiles. According to ICRA, cotton yarn exports, which rebounded in FY24 on a lower base, are likely to normalise in FY25. "While exports will remain exposed to headwinds from sluggish global demand, a shift in sourcing preference away from other countries will offset this impact to an extent," the rating agency said. It shared that domestic cotton prices, which peaked sharply in H1 FY23 and reached a lifetime high of Rs 284 per kg,

Cotton yarn industry expected to spin back to recovery in FY25: ICRA
Updated On : 17 Jul 2024 | 6:07 PM IST

Indian auto component industry growth to moderate in FY25, says ICRA

ICRA also expects the industry to invest Rs 20,000-25,000 crore in FY2025 for capacity expansion and technological advancements

Indian auto component industry growth to moderate in FY25, says ICRA
Updated On : 11 Jul 2024 | 6:38 PM IST

Rising focus: Budget push likely for social sector to lift rural demand

Bumper RBI dividend may help govt increase funding

Rising focus: Budget push likely for social sector to lift rural demand
Updated On : 07 Jul 2024 | 11:55 PM IST

Tariff hikes signal better profitability for telcos going forward: ICRA

The latest telecom tariff hikes announced by telcos can yield additional operating profits of around Rs 20,000 crore for the industry once they are fully absorbed, ICRA said on Friday. With an improved financial metrics, the industry will have the headroom to undertake deleveraging as well as fund capex for the technology upgrade, and network expansion, Ankit Jain, Vice President and Sector Head of Corporate Ratings, ICRA said. The domestic rating agency's view comes after Reliance Jio and Bharti Airtel announced they would roll out tariff hikes - in the range of 10-27 per cent - marking the first major telecom tariff increase in the industry in a span of two-and-a-half years. "The latest round of tariff hikes wherein the telcos increased the prepaid tariffs by around 15-20 per cent will provide the traction in the (Average Revenue Per User) ARPU levels and can result in additional operating profits of around Rs 20,000 crore for the industry once these hikes are fully absorbed," ICR

Tariff hikes signal better profitability for telcos going forward: ICRA
Updated On : 28 Jun 2024 | 5:52 PM IST

Thermal power plant load factor to remain healthy at 70% in FY25: ICRA

Thermal plant load factor or capacity utilisation is expected to remain healthy at 70 per cent in FY2025 on power demand growth of 6 per cent, ICRA said on Thursday. ICRA's outlook for the thermal power segment is "Stable", following the improvement in the thermal plant load factor (PLF) and healthy demand growth, thereby improving visibility on signing of new power purchase agreements (PPAs), an ICRA statement said. Also, it stated that the implementation of the Late Payment Surcharge (LPS) scheme enabled an improvement in payment discipline from state distribution utilities (discoms) to power generation companies from August 2022. However, it stated that ICRA's outlook for the power distribution segment remains "Negative" amid limited tariff hikes and continued loss-making operations. According to the statement, ICRA projects the all-India thermal PLF level to rise marginally to 70 per cent in FY2025, from 69 per cent in FY2024, led by the growth in electricity demand and limited

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Updated On : 20 Jun 2024 | 9:04 PM IST

What will Indians do for jewellery amid high gold prices? Agency answers

Consumers are expected to remain watchful of price movements, says ICRA

What will Indians do for jewellery amid high gold prices? Agency answers
Updated On : 18 Jun 2024 | 1:21 PM IST

Indian Inc faces Q1 revenue uncertainties due to slow govt spending: Icra

Corporates are bracing for revenue uncertainties in the April-June period due to a slowdown in government spending and the onset of the annual monsoon season, domestic rating agency Icra said on Monday. The sequential revenue growth will taper in the first quarter of the fiscal, the agency said in a note, adding that there was a 6.5 per cent growth in revenues in the March quarter compared to the preceding December quarter. "While signs of a revival in rural demand have emerged, headwinds, such as a slowdown in the Government of India's (GoI) spending during the Parliamentary elections and onset of the monsoon period, are likely to weigh on growth in H1FY25," the agency said. "India Inc braces for revenue uncertainties in Q1FY25," it added. Its co-group head for corporate ratings Kinjal Shah said the sequential revenue growth will slow down because of a relatively high base amid a perceived temporary pause in the infrastructural activities for a major part of the quarter due to the

Indian Inc faces Q1 revenue uncertainties due to slow govt spending: Icra
Updated On : 17 Jun 2024 | 8:29 PM IST

Domestic commercial vehicle sales likely to dip 4-7% in FY25: ICRA

In February 2024, the industry saw a slight 0.7 per cent year-on-year decline in wholesale volumes, although it managed a 5.1 per cent sequential growth

Domestic commercial vehicle sales likely to dip 4-7% in FY25: ICRA
Updated On : 07 Jun 2024 | 8:04 PM IST

Expect commercial vehicle volumes to witness 4-7% dip this fiscal: ICRA

Hit by a high base of last year and weakness in demand, the domestic commercial vehicle industry is expected to witness a dip of 4-7 per cent in wholesale volumes in the current fiscal as compared to FY23, rating agency Icra said on Friday. The medium and heavy commercial vehicle (trucks) volumes are expected to contract by 4-7 per cent year-on-year given the high base effect and the impact of the Lok Sabha polls on infrastructure activities in the first few months. Similarly, the volume of light commercial vehicles (trucks) wholesale volumes is likely to decline by 5-8 per cent in FY2025 due to factors such as a high base effect, sustained slowdown in e-commerce, and cannibalisation from electric three-wheelers, Icra said. The rating agency expects the domestic CV industry's uptrend to be arrested in FY2025, with a decline of 4-7 per cent in wholesale volumes, it stated. This follows a muted year-on-year growth of 1 per cent and 3 per cent for wholesale and retail sales, ...

Expect commercial vehicle volumes to witness 4-7% dip this fiscal: ICRA
Updated On : 07 Jun 2024 | 4:35 PM IST

Domestic air passenger traffic grows 5.1% to about 138.9 mn in May: ICRA

Domestic air passenger traffic grew 5.1 per cent year-on-year to an estimated 138.9 million in May and was significantly higher by around 14 per cent than pre-Covid levels, credit ratings agency Icra said on Thursday. Icra also said the outlook on the Indian aviation industry is stable amid the continued recovery in domestic and international air passenger traffic with a relatively stable cost environment and expectations of the trend continuing in FY2025. The airlines' capacity deployment in the previous month increased 6 per cent year-on-year and about 2 per cent higher than April 2024, it added. According to the agency, the domestic air passenger traffic for FY24 was around 154 million, with a year-on-year growth of around 13 per cent. It thus surpassed the pre-COVID levels of around 142 million in FY2020, the ratings agency said, adding that the international passenger traffic for Indian carriers stood at around 29.68 million last fiscal, registering a year-on-year growth of ..

Domestic air passenger traffic grows 5.1% to about 138.9 mn in May: ICRA
Updated On : 06 Jun 2024 | 3:37 PM IST

ICRA revises domestic steel consumption growth upwards to 9-10% for FY25

Domestic steel consumption between February to April 2024 registered a growth of 11.3 per cent

ICRA revises domestic steel consumption growth upwards to 9-10% for FY25
Updated On : 03 Jun 2024 | 2:25 PM IST

MPC likely to maintain status quo for eighth time in a row: BS poll

Respondents cite moderate inflation data, outlook for food prices, high growth

MPC likely to maintain status quo for eighth time in a row: BS poll
Updated On : 02 Jun 2024 | 11:21 PM IST

Major private hospital chains see rise in revenues per bed in FY24

They are on an expansion spree and guided for more bed additions in FY25

Major private hospital chains see rise in revenues per bed in FY24
Updated On : 02 Jun 2024 | 11:07 PM IST

Vedanta says ICRA has assigned top rating to its commercial paper

Vedanta on Thursday said ICRA has assigned A1+ rating to the company's Rs 2,500-crore commercial paper, citing multiple positives. ICRA highlighted Vedanta's diversified product portfolio and a healthy market share while assigning the rating, the company said. A1+ is the highest rating in a scale of ratings provided by the credit rating agency for such instruments. "ICRA Ltd...has assigned ICRA A1+ Rating on commercial paper," Vedanta said in a filing to the BSE. Similarly, the credit rating agency has also assigned an ICRA AA- rating to Vedanta's long-term bank loans, it said. The mining major has proposed a vertical split of the businesses and is expected to list five entities on the stock exchanges by the end of this year.

Vedanta says ICRA has assigned top rating to its commercial paper
Updated On : 30 May 2024 | 9:54 PM IST

ICRA Q4 results: Net profit up 21.8% to Rs 47 cr, total revenue rises 13.7%

For financial year FY24, its consolidated net profit rose to Rs 152.24 crore up from Rs 136.72 crore in FY23

ICRA Q4 results: Net profit up 21.8% to Rs 47 cr, total revenue rises 13.7%
Updated On : 23 May 2024 | 9:44 PM IST

Dependency on minerals import risks India's green tech progress: ICRA

According to the report, there has been a gradual shift in global energy policy priorities from fuel and energy security to mineral security

Dependency on minerals import risks India's green tech progress: ICRA
Updated On : 22 May 2024 | 10:35 PM IST
Updated On : 18 May 2024 | 12:48 PM IST

International traffic expected to grow faster than domestic in FY25: ICRA

While the domestic passenger traffic is expected to grow at 8-10 per cent Y-o-Y to 330-340 mn, the international passenger traffic is likely to increase by 10-14 per cent Y-o-Y to 80 mn, it mentioned

International traffic expected to grow faster than domestic in FY25: ICRA
Updated On : 16 May 2024 | 8:18 PM IST

Slowdown in mining output drags IIP growth to 4.9% in March: Govt data

The IIP had grown by 1.9 per cent in March 2023

Slowdown in mining output drags IIP growth to 4.9% in March: Govt data
Updated On : 10 May 2024 | 11:13 PM IST

ICRA forecasts moderate growth for tyre sector in FY25 as input costs rises

The report cites healthy demand from OEMs in the passenger vehicle (PV) and two-wheeler (2W) segments, along with replacement demand, as the primary drivers of domestic growth

ICRA forecasts moderate growth for tyre sector in FY25 as input costs rises
Updated On : 09 May 2024 | 8:03 PM IST