Page 3 - Sme Companies

Covid-19 pandemic and risk-aversion halt SME juggernaut in FY21

Only 12 of 25 firms to go for listing are in the green

Star SME: How Alkyl Amines Chemicals is tapping local, global demand

Large capacities and efficient use of capital have been key to Alkyl Amines Chemicals' profitable growth

Special insolvency relief framework for Covid-hit MSMEs in the works

Such firms may be allowed to opt for pre-packaged deal

BSE signs MoU with Maharashtra govt to create awareness about SME listing

BSE will provide training and capacity building support to District Industries Centre officials

Private equity firm Stakeboat Capital floats fund for raising Rs 1,000 cr

Fund-II will remain focused on investing in growth equity in SMEs in the form of control and buyout transactions, the Bengaluru-based company said in a statement

Razorpay gears up to digitise small businesses; aims at $50 bn TPV by 2021

Due to lack of trust, new merchants usually see 30% higher cart abandonments on the checkout page as compared to established merchants; Razorpay is aiming to change that

Nearly 50% employers hired only virtually in 2020, finds Indeed survey

Nearly one in five employers also said that virtual hiring reduced bias in the recruitment process

YES Bank aims to double retail, SME assets & liabilities book by March 2023

The lender expects to grow the combined share of retail and SME in business to 60%

Steel traders, re-rollers face weak domestic demand: CRISIL SME Tracker

A moderate demand revival is expected in the second half of this fiscal, led by improving auto sales and pick-up in construction activity.

1,000 SME mfg units set up under PMEGP in Kargil, Leh since 2017-18: KVIC

KVIC said it has set up nearly 1,000 different small and medium manufacturing units under the PMEGP in the Himalayan terrains of Kargil and Leh since 2017-18, creating over 8,200 jobs for local youth.

Auto-component units face 14-16% fall in revenue: CRISIL SME Tracker

Small and medium enterprises (SMEs), which make up a third of the sector, have been badly hit.

Raw material crisis may lead to closure of SME steel units: Industry body

Steel wire makers, belonging to the labour-intensive small and medium enterprises sector, are facing acute raw material shortage that may lead to the closure of several units

Small, medium shipbreakers face contraction in revenue: CRISIL SME Tracker

Shipbreaking volumes are expected to remain under pressure in the current fiscal year too

Stressed funds set to make beeline for India on spike in Covid-driven NPAs

Bankers expect bad debt worth $35 bn to be up for grabs, in addition to $110 bn already in the system; Blackrock, SBI Cap, Brookfield eyeing stressed assets

Facebook, Jio tie-up will bring 25 million SMEs online: Ajit Mohan

Facebook Messenger and WhatsApp's voice and video calling volumes have doubled across the country while the live broadcast from Facebook pages has tripled in June 2020

Courier SMEs' cup of woe spills over, shows CRISIL SME Tracker

CRISIL Research expects their revenue to decline 30-35 per cent in FY 2021

81% SMEs confident of recovery post Covid, 57% have no cash reserve: Survey

Madan Padaki, co-founder of GAME, said Covid-19 has left a devastating impact on the Indian economy, especially micro-enterprises that comprise around 99 per cent of all firms in India

25-30 million lost jobs in MSMEs during March-June, says survey

Another 10-15 million jobs may be lost by the end of August

Banks sanction Rs 1.27 trn loans to MSMEs under credit guarantee scheme

However, disbursements against this stood at Rs 77,613 crore till July 20 under the 100 per cent ECLGS for micro, small and medium enterprises (MSMEs)

MSME margins to shrink on Covid-induced loss of demand: CRISIL SME Tracker

Long constrained for liquidity, MSMEs now also have to cope with loss of demand, labour shortage, and heightened risk aversion in the financial system due to the Covid-19 pandemic.