Ind-ra

IBC cases breaching resolution timeline hit 78% in FY25: Ind-Ra report

Ind-Ra notes rising resolution timelines and lowest recovery levels since FY21 under the IBC framework, cautioning this could affect bond market deepening and investor confidence

E-recycling sector to reach $198.5 mn by 2032 at CAGR of 13.52%: Ind-Ra

The domestic industry can look forward to increased business opportunities in the e-recycling sector, which is expected to grow at a CAGR of 13.52 per cent, reaching USD 198.52 million by 2032, India Ratings and Research (Ind-Ra) said in a report on Wednesday. The report also underlined the need for a strong reverse logistics network for e-waste procurement to ensure contract fulfilment and technical expertise to gain extended producer responsibility (EPR) revenue. India ranks as the third largest e-waste producer after China and the US, it said, adding that Switzerland remains one of the most efficient e-waste recyclers in the world, followed by Sweden and Norway. Citing an Astute Analytica report, the credit ratings agency said the domestic e-waste management market is projected to reach a valuation of about USD 198.52 million by 2032 at a compounded annual growth rate (CAGR) of around 13.52 per cent during 2024-2032, hinting at a huge market. Ind-Ra said there is a growing ...

India Ratings maintains neutral outlook for auto ancillaries in FY26

Despite these challenges, Ind-Ra expects several factors to help sustain margins in the auto ancillary sector

India to grow 6.6% in FY26, driven by investments, easing rates: Ind-Ra

India Ratings and Research (Ind-Ra) on Wednesday projected the Indian economy to grow at 6.6 per cent in 2025-26, up from 6.4 per cent in the current fiscal year. Ind-Ra believes investments will be a key growth driver for the Indian economy in FY26, like in FY22 and FY24. The Indian economy has experienced a cyclical growth slowdown in the past three quarters, which it expects to reverse from the December quarter. The GDP growth till FY24 was impacted by the aftereffects of Covid-19, even the base effect impacted the quarterly GDP growth. While the June quarter GDP growth of FY25 was impacted by the combination of a strong base effect and the general elections in May 2024, the growth in the July-September period witnessed the extended impact of weak private sector capex. Ind-Ra believes that the Indian economy is facing monetary, fiscal, and external tightening. While it expects monetary conditions to ease now, the fiscal and external tightening is expected to continue in FY26 as

Steel import surge impacts domestic players' gross margins: Ind-Ra

The surge in steel imports has impacted the margins of domestic players and such pressures are likely to intensify in the second half of the ongoing fiscal year, a report said on Tuesday. The report covers global causes of increased steel imports to India, the likely trajectory of imports, key exporting nations, and domestic demand supply balance, India Ratings and Research (Ind-Ra) said in a statement. The increasing steel imports to India -- particularly from the third quarter of FY24 -- have affected the gross margin spreads in the domestic steel industry, it said. "Ind-Ra believes the Indian steel industry is witnessing margin pressure because of higher volumes of lower-priced steel imports from China, Vietnam, Japan, and Korea, and such pressure is likely to intensify over 2HFY25," it said. As per the report, the Chinese steel export volumes were at its peak in FY25 over at least past 21 quarters, as its domestic steel prices have been consistently declining, keeping ...

Corporate credit robust in H1, 202 issuers got rating upgrades: Ind-Ra

India Ratings and Research (Ind-Ra) on Tuesday said corporate credit profile continued its robust performance in the first half of the current fiscal with 202 issuers getting rating upgrades. Large corporates and A-rated corporates witnessed a higher number of upgrades in the first half of the fiscal, taking the downgrade-to-upgrade (D/U) ratio to a low at 0.31 for the first half, said Arvind Rao, Head of Credit Policy Group, Ind-Ra. "The corporate credit profile continued its robust performance in 1HFY25, the fourth year in a row. During this period, Ind-Ra upgraded the ratings of 202 issuers, representing 20 per cent of the reviewed portfolio, while the ratings of 62 issuers were downgraded," Ind-Ra said in a statement. Rao further said that the D/U ratio is expected to moderate marginally in the current fiscal, compared to 0.37 in the 2023-24 fiscal. "We expect issuer rating upgrades to outpace downgrades in the second half of the current fiscal," Rao said. Ind-Ra said that dur

India's current account deficit may widen to 1% of GDP in Q2FY25: Ind-Ra

According to India Ratings and Research, India's current account deficit (CAD) is expected to rise to 1% of GDP in Q2FY25, with a 1% increase in merchandise exports and a widening goods trade deficit

Ind-Ra ups FY25 GDP growth forecast to 7.5% on expectation of high demand

India Ratings & Research (Ind-Ra) on Wednesday upped India's GDP growth forecast for the current fiscal to 7.5 per cent from 7.1 per cent projected earlier on expectation of improved consumption demand. It said The ongoing growth momentum led by government capex, deleveraged balance sheets of corporates/banks, and incipient private corporate capex cycle has now found support from the union government budget. The budget promises to bolster agricultural/rural spending, improve credit delivery to MSMEs and incentivise employment creation in the economy. "Ind-Ra believes these measures would help in broad basing the consumption demand," the rating agency said while revising up its GDP growth estimate for FY25 to 7.5 per cent. Ind-Ra's growth projection is higher than that of RBI which projected FY25 growth at 7.2 per cent and Finance Ministry's Economic Survey which estimated GDP expansion between 6.5-7 per cent. Ind-Ra expects Private Final Consumption Expenditure (PFCE) to grow to a

Ind-Ra expects stable operating performance for most infra projects in FY25

India Ratings and Research (Ind-Ra) expects stable operating performance for most infrastructure projects in the current financial year. The rating agency on Thursday maintained its stable outlook on the infrastructure sector, including the transport segment which signifies low chances of rating changes for the sector in the near to medium term. The rating agency assigned a positive outlook on the airport segment which means there are high chances of rating upgrades in the near to medium term. Ind-Ra stated that the stable outlook on the infrastructure sector factors in the likelihood of a stable operating performance for most projects, long-term revenue visibility under concession agreements and power purchase pacts and expected improved cargo and traffic volumes. On the power sector, the rating agency said it expects total capacity installed to reach about 476 GW in FY25 against 440 GW as of March 2024. In a virtual press meet, Bharat Kumar Reddy, Associate Director at India ..

Muted exports for auto sector in FY25 amid weak overseas demand: Ind-Ra

A slowdown in demand from both domestic commercial vehicle manufacturers and subdued exports could limit revenue growth to a range of 6-8 per cent year-over-year

Ind-Ra ups FY24 GDP growth estimate to 6.7%, warns of fiscal challenges

On inflation, the Ind-Ra report said it expects retail inflation to cool off to 5.1 per cent and 4.7 per cent, respectively, in the third and fourth quarter of this fiscal, respectively

Unhedged exposure via external commercial borrowing new threat to rupee

According to RBI data on external debt released, short-term debt on a residual maturity basis accounted for 44.1% of foreign exchange reserves at the end of March 2022

Auto ancillary sector's FY23 revenue expected to grow at 10-15% YoY

Domestic auto ancillary sector's revenue is expected to grow at 10-15 per cent year-on-year (YoY) in FY23.

Russia-Ukraine crisis to widen India's current account deficit: Ind-Ra

The crisis is expected to increase prices of mineral fuels and oils, gems and jewellery, edible oils and fertilisers

FY23 Outlook: States' deficit expected at 3.6% of GDP, says Ind-Ra

"The revision was made due to better-than-expected growth in revenue receipts and higher growth in the nominal GDP in FY22," the agency said

Textile demand momentum to continue in FY23: India Ratings

The ratings agency cited that reduction in logistics issues for export demand will aid in keeping healthy demand

Covid third wave to have benign impact on hotels industry: Ind-Ra

Covid-19's third wave is expected to have a benign impact on the hotel industry due to lesser restrictions along with the sector's pro-active preparation, said India Ratings and Research (Ind-Ra).

Ind-Ra keeps 'neutral' outlook for power sector; demand growth to return

Ind-Ra has maintained a 'neutral' outlook for the power sector for FY23 and expects the demand growth to come back to a normal level of 6 to 7 per cent in the next fiscal year.

New stock, Omicron impact to arrest rising Cotton prices: Ind-Ra

New stock arrivals as well as the Omicron Covid-19 variant's expected impact on demand is likely to arrest any further rise in cotton prices during the short-term, said India Ratings and Research

Rising global Covid cases to impact capital flows, push inflation: Ind-Ra

Rising Covid cases globally have the potential to impact capital flows as well as heighten inflation, said India Ratings and Research (Ind-Ra)