Page 24 - Icra

Ukraine war: Icra sees serious downside risks to growth; CAD to cross 3.2%

The highest CAD was in FY13 when it crossed the 4.8 percentage points and the second high was in FY12 when it was at 4.3 per cent

Ukraine war has states paying highest for debt at 7.29%, says report

The average cut-off or cost of borrowing shot up to 7.25 per cent for 10-year SDLs, reflecting the sharp surge in crude oil prices after Russia invaded Ukraine

Domestic aviation industry may report Rs 26,000 cr loss this fiscal: Icra

The ratings agency also estimates that the industry will require an additional funding in the range of Rs 20,000-22,000 crore during FY22-FY24

Russian invasion of Ukraine and Budget 2022

While Russia's invasion of Ukraine doesn't quite throw Budget 2022 out the window yet, it does mean the fiscal maths will need a significant re-look.

'Strong demand outlook for domestic solar OEMs aided by policy measures'

Business prospects of domestic solar original equipment manufacturers (OEMs) will remain strong aided by several policy measures over medium-term, rating agency Icra said. As a result, many domestic OEMs have announced sizeable capital expenditure to augment the cell and module capacity, including the capex for integrated facilities under PLI scheme by the winning bidders. However, it stated that timely commissioning and ramping up of ongoing capex in module manufacturing value chain remains a critical factor in the near to medium-term. As a result, adequacy of the modules from the domestic OEMs to meet the demand in utility & non-utility segment as well as quality of such modules remains a monitorable. "The policy focus by Government of India in the renewable energy (RE) sector remains strong as also evident from the policy target of 500 GW of non-fossil fuel-based capacity by CY 2030 as well as policy direction in the energy transition with net zero emission target by 2070," ...

PLI scheme to unlock India's manufacturing capacity, says Icra

It has the potential to generate employment for millions (skilled and unskilled labour) in India, Icra said

Asset quality issues to affect realty-focused non-banks till FY23: Study

The real estate AUM of non-banks contracted by 17.64 per cent to Rs 2.8 lakh crore as of March 2021 from Rs 3.4 lakh crore as of March 2019

Housing finance players loan portfolio to grow at 8-10% in FY22: Report

Going forward, the growth trend is expected to continue, driven by healthy demand in the industry, increasing level of economic activity and increasing vaccination in the country, Icra ratings said

Domestic air passenger traffic falls 43% to 6.4 mn in January: Icra

The rating agency said it is expecting the recovery process to remain subdued during March quarter and that the jet fuel prices continue to be a drag on the sector

Rating agency ICRA lowers MFI asset growth estimate to 12-14% for FY22

Next year to be better; but spurt in Covid-19 cases poses risks

MFIs' assets under management likely to grow at 18-22% in FY2023: Report

ICRA on Monday revised downwards the FY2022 growth outlook for assets under management (AUM) of NBFC-MFIs to 12-14 per cent but expects it to improve to 18-22 per cent in the financial year 2022-23.

'Domestic 2-wheeler sales dip 21% in Jan; recovery likely in coming months'

The low year-on-year sales volume in January highlights the adverse impact of price hikes, fuel inflation, and Omicron-related concerns on consumer sentiments, says ICRA

Budget prioritises growth over fiscal consolidation: ICRA Limited MD

The Budget has pencilled in modest 6.0 per cent growth in revenue receipts, dampened by a contraction in non-tax revenues

ICRA places ratings of PFS under watch with negative implications

Three PFS directors - Kamlesh Shivji Vikamsey, Thomas Mathew T and Santosh B Nayar - resigned on January 19, 2022 alleging lapses in corporate governance

Budget 2022: Icra expects enhanced support for waterways, logistics sectors

An increased budgetary support from the government for flagship projects including Sagarmala and inland waterways will provide a boost to the execution pace and investments, Icra said

Icra revises AUM growth outlook for retail NBFCs to 5-7% from 8-10% in FY22

The agency said the growth outlook would be exposed to downside risk in case of significant disruptions caused by the new wave of infections in Q4 FY2022.

'New Covid wave may shave off 100 bps growth in toll collections in FY22'

The recent surge in Covid infections as well as subsequent localised lockdowns emanating from Omicron spread are likely to shave off around 100 bps of growth in toll collections in fiscal year 2021-22

Icra maintains volume demand growth estimate for FY22 at 13-15%

ICRA said it is maintaining the domestic demand growth in volumes estimate for the Indian tyre industry at 13-15% for the ongoing fiscal year and 7-9% for the FY22-25 period

Despite pandemic, hospital chains set for revenue, margin growth in FY22

Despite the third wave hitting elective surgeries and infecting a large number of medical personnel, hospitals are expected to close the current fiscal with robust revenue and margin growth

Icra revises downwards revenue growth forecast for auto component industry

Icra revised downwards the revenue growth forecast for the auto components industry in the current fiscal to 15-17 per cent