Crisil

However, there won't be an overall impact on reported profits as the FLDG amount received will now be reckoned as a part of income

Banks' gross non-performing assets (NPAs) will reduce further to a decadal low of 3.8 per cent by end of FY2023-24, credit rating agency Crisil said on Monday. The agency estimates NPAs to reduce to 4.2 per cent by end of the just concluded FY23 as against 5.9 per cent in the year-ago period. It had earlier estimated NPAs to come at 4 per cent by end of FY24. Crisil said a major factor influencing the bank NPAs is the improvement in the high-value corporate loanbooks, where the gross NPAs are slated to come below 2 per cent. Corporates have been reducing their leverage through a string of measures, including prepayment of loans as well. Additionally, strengthened risk management and underwriting is also helping the lenders towards lowering the NPAs, the agency said. When asked about the growing trend of writing unsecured loans in the retail segment, the agency's deputy chief rating officer Krishnan Sitaraman said they occupy a very small proportion of the overall loans. He said 26

Interest rate hikes, global slowdown, stubborn inflation pose risk

FY24 revenue growth may decline by 700-900bps: CRISIL Ratings

The key reason for the sharp fall in revenues is the slowdown in the BFSI segment, which accounts for 30% of the sector's revenues

The domestic stainless steel demand is expected to grow at a compound annual growth rate (CAGR) of 9 per cent till 2024-25 financial year, according to Crisil Ratings. The domestic demand for stainless steel was at 4 million tonnes (MT) in fiscal 2021-2022, the ratings agency said in a report on Thursday. "Domestic demand for stainless steel is projected to log a healthy compound annual growth rate of 9 per cent in the three fiscals through 2025, double the 4.5 per cent pace of the past five fiscals," the Crisil Ratings report said. The demand will be driven by increasing adoption of stainless steel in railways which is a focus area for government infrastructure spending, and rising application in the automobile and construction sectors. The demand growth, in turn, will spur capacity additions. However, the credit profiles of players are expected to remain comfortable, given stable profit levels and healthier balance sheets. "Adoption of stainless steel is increasing because of i

The outlook revision indicates that the standalone credit profile of AAHL may weaken

The change reflects the possibility of higher-than-expected financial leverage and lower financial flexibility with reducing ratio of cash surplus to one-year maturities for FY23 and FY24

In FY24, the revenue growth will continue to be strong, but it will be a lower 9-11 per cent

However, softening prices of inputs such as steel and pig iron will provide a 100-200 basis points (bps) respite to the operating margin of tractor makers

Amish Mehta discusses the factors behind this downgrade and road ahead for the Indian economy

Nageswaran says IMF's latest estimates for global growth appear outdated

Full impact of RBI's rate hikes will be next fiscal, says agency while citing three reasons for economy slowing

CRISIL said that the risks to inflation are 'tilted upward' due to the predictions of El Nino over the next couple of months

High cost of 5G devices and readily available 4G network shaping users' behaviour

The shares of listed Adani group companies have witnessed huge volatility in prices after US-based short-seller Hindenburg's research report

Power prices are expected to remain firm next fiscal on the back of elevated demand growth of 5.5-6 per cent, and the demand is set to close this fiscal up 9.5-10 per cent over 8.2 per cent last fiscal, a report said on Thursday. The fears of a heat wave has seen the short-term power prices soaring by a full 151 per cent. This was on the back of a 42 per cent on-year spike in prices in February, Crisil said in a report. The demand growth would mark a decadal high rate of growth and almost double the 20-year average of 5.2 per cent, the report added. The report noted that demand growth weighed in at 7.7 per cent in February and averaged 10 per cent for the 11 months of the current fiscal despite a high base of fiscal 2022 due to extreme weather events and robust industrial and manufacturing activity. March is unlikely to see any let up amid early warnings on possible heat waves in northern and central regions this summer, the report said. According to Hetal Gandhi, a director with

Private security players' key service offerings include manned guarding, cash management services, and allied services such as electronic security services

The hot temperature if persists in March may not only reduce the wheat crop yield but also heat up the commodity prices, said CRISIL.

CRISIL also removed the company from "on watch status" and assigned "stable" outlook