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Business Standard

TN readymade garment exporters' profit may rise by 8-10% in FY25: CRISIL

Readymade garment exporters from Tamil Nadu are likely to see 8-10 per cent growth in revenue to Rs 43,000 crore in this financial year on healthy order flow amid rising demand conditions, a report said on Friday. The industry has seen signs of recovery in Tamil Nadu after two years of subdued demand and muted realisations and is expected to fare better than the national level where revenue growth is expected to be 3-5 per cent this fiscal. Operating profitability will improve 25-30 basis points (bps) on better operating leverage, marginal increase in realisations and stable yarn prices, Crisil Ratings said in a report. "Tamil Nadu readymade garment industry, which accounts for over 30 per cent of readymade garment exports from India, will see volume grow 6-7 per cent in the current fiscal. Growth will be driven by the Tirupur region, the knitwear hub of India, supported by improving demand from the US and Europe. "The government's plan to review the Production-Linked Incentive (PL

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IDFC First Bank Q2 Update: Deposits jump 32%, loans grow 21% on-year

IDFC First Bank has reported strong growth in loans, deposits, and CASA ratio for Q2 FY24, while also completing its merger with IDFC Limited. Credit ratings reaffirmed at AA+ Stable by CRISIL and CARE.

The Economic Times

Media companies to log 8% revenue growth, reaching Rs 60,000 crore by FY27: Crisil

Media companies are set to achieve 8% annual revenue growth, reaching Rs 60,000 crore by FY27, driven by digital segment expansion. This includes increased focus on OTT services, social media, and apps, alongside traditional ad revenue growth, improving operating margins to 18% by FY27.

The Economic Times

NBFCs tap alternatives to grow as loans from banks slow: Crisil Ratings

Non-banking financial companies (NBFCs) are looking to fund their growth using methods beyond traditional bank loans. Crisil Ratings highlights that NBFCs are turning to non-convertible debentures, commercial papers, foreign currency borrowings, and securitisation. This shift is due to increased risk weights on bank lending. Diversifying funding is crucial for NBFCs to manage costs and sustain growth.

Mint

CRISIL removes IIFL Finance from ‘Rating Watch’, reaffirms long-term rating as RBI lifts embargo on gold loan business

India's major non-banking financial company (NBFC), IIFL Finance, has received a positive development from credit rating agency CRISIL.

The Economic Times

Rating companies post more upgrades for India Inc as credit quality improves

For Crisil, overall, there were 506 upgrades and 184 downgrades. The credit ratio increased to 2.75 times in the first half of this fiscal from 1.79 times in the second half of last fiscal. This highlights the sustained strengthening of India Inc's credit quality.

The Economic Times

GNPAs to improve to decadal low in FY25; MFI loans, unsecured need to be watched: Crisil

Gross non-performing assets (GNPAs) for banks are forecasted to drop to a decade-low of 2.5% in FY25, says Crisil. Concerns remain over increasing stress in unsecured loans and microfinance sectors. Credit growth is expected to moderate to 14%, down from 16% in FY24. The corporate sector's improved asset quality will boost the overall system, despite profitability challenges from rising deposit costs.

Business Standard

IIFL Finance and its subsidiaries receive ratings action from CRISIL

Further, CRISIL has also reaffirmed it's ratings and has assigned the outlook as Stable for Bank Loan Facilities, Non- Convertible Debentures and reaffirmed A1+ for Commercial Papers of IIFL Finance, HFC and Samasta.

Business Standard

Prospects brightening for MSMEs in ITeS, shows CRISIL SME Tracker

Growth will be supported by resumption of deferred projects and new orders from key segments such as banking, financial services and insurance and manufacturing

The Economic Times

Nearly 65% of self-employed women in Indian metros have not taken a business loan, shows survey

65% of self-employed women in Indian metros have not taken business loans, with 39% relying on personal savings. A DBS Bank India and CRISIL report highlights that they often use personal assets as collateral. Nearly 73% prefer digital payments and 52% have adopted sustainability policies. A DBS Foundation training program aims to boost financial literacy.

The Economic Times

Aditya Birla Sun Life Mutual Fund launches CRISIL-IBX AAA NBFC-HFC Index-Sep 2026 Fund

The investment objective is to generate returns in line with the total returns of securities represented by the CRISIL-IBX AAA NBFC-HFC Index – Sep 2026, before expenses and subject to tracking errors.

The Economic Times

ICICI Prudential Nifty200 Value 30 Index Fund, 2 other mutual fund NFOs to open this week

Three new mutual fund NFOs will open for subscription this week: ICICI Prudential Nifty200 Value 30 Index Fund, ICICI Prudential Nifty200 Value 30 ETF, and Aditya Birla SL CRISIL-IBX AAA NBFC-HFC Index-Sep 2026 Fund. These funds span categories including target maturity fund, index fund, and ETF.

The Economic Times

India to boost crude oil refining capacity by 35-40 MT by Fiscal 2030: Crisil Ratings

India's oil marketing companies are set to increase the country's crude oil refining capacity by 35-40 million tonnes by fiscal 2030, reaching a total of 295 million tonnes. This expansion, driven by rising domestic oil consumption, will require an investment of Rs 1.9-2.2 lakh crore. Most additions will be brownfield expansions, reducing project risks and ensuring steady returns.

The Economic Times

3 mutual fund NFOs to open for subscription this week

Three new mutual fund NFOs are set to open for subscription this week. ICICI Prudential Mutual Fund is launching two schemes: the Nifty200 Value 30 ETF and the Nifty200 Value 30 Index Fund. Aditya Birla Sun Life Mutual Fund is introducing the CRISIL-IBX AAA NBFC-HFC Index-Sep 2026 Fund.

The Economic Times

Hardening rubber prices to put pressure on tyre makers’ margin: Crisil

Tyre manufacturers are facing challenges as natural rubber prices have surged by over 33% in the first five months of this fiscal year. This price hike, driven by strong demand and limited supply, is expected to impact their profitability significantly. The tyre industry, which consumes around 80% of natural rubber, is particularly affected.

Business Standard

High natural rubber prices to impact profitability of tyre makers: CRISIL

Inflated natural rubber prices which are way above the trend in the past decade could impact the profitability of tyre manufacturers, according to CRISIL Market Intelligence & Analytics. Tyre makers are headed for a rough patch as the price of natural rubber has surged more than 33 per cent on-year in just the first five months of this fiscal amid strong demand and crunched supply, which could strain profitability, CRISIL said in a statement. The domestic prices of natural rubber closed in August at Rs 238 per kg on average, way above the trend in the past decade, it added. CRISIL Market Intelligence and Analytics, Director-Research Pushan Sharma said between fiscals 2011 and 2023, global rubber production grew 35 per cent while demand expanded 40 per cent resulting in a supply crunch thereby resulting in higher prices. "With further rise in demand and restricted supply, the prices of natural rubber are expected to remain elevated, impacting the margins of tyre manufacturers well .

Business Standard

Diamantaires likely to witness 25-27% decline in revenue in FY25: Report

India's natural diamond polishing industry is likely to witness a 25-27 per cent decline in revenue to a decadal-low of USD 12 billion this fiscal on lower demand in key markets and a shift in preference to consumer lab-grown diamonds, according to a report released on Wednesday. The decline in revenue is mainly due to muted demand in key export markets of the US and China, a 10-15 per cent fall in diamond prices amid oversupply and a shift in consumer preference towards lab-grown diamonds (LGDs), Crisil Ratings said in its report. Declining for the third fiscal in a row, the natural diamond polishing industry's revenues are estimated to fall 25-27 per cent year-on-year to a decadal low of USD 12 billion this fiscal, it added. The industry's revenue contracted 29 per cent in the previous fiscal and 9 per cent in FY23. The report stated that tepid demand amid decreasing prices has seen diamond polishers limiting the purchase of roughs and have curbed manufacturing. In turn, miners

Business Standard

Organised apparel retailers to clock 8-20% revenue growth in FY25: Report

Festive and wedding season and increasing preference for fast fashion is expected to help the organised retail apparel sector log 8-10 per cent revenue growth this financial year, a report said on Tuesday. The organised retail apparel sector will clock a revenue growth of 8-10 per cent this fiscal riding on higher demand stemming from a normal monsoon, easing inflation, festive and wedding season and increasing preference for fast fashion, which is inexpensive, trendy clothing that mimics high fashion designs and popular styles, Crisil Ratings said in a report. "The mass market segment accounts for 60 per cent of total sales now, compared with 56 per cent before the pandemic, due to the rising popularity of fast fashion, which is expected to be the primary revenue driver this fiscal. The likely increase in demand for premium clothing during the upcoming festive and wedding seasons will also contribute to overall revenue growth of 8-10 per cent this fiscal," Crisil Ratings Senior ...

The Economic Times

ARCs see first drop in assets under management in Q1

Assets under management of asset reconstruction companies (ARCs) have declined due to fewer loan defaults and reduced corporate lending. In the June quarter, AUM fell by Rs 2,632 crore, with outstanding security receipts dropping from Rs 1.4 lakh crore in March to Rs 1.37 lakh crore in June. Crisil projects a further shrinkage this fiscal year.

The Economic Times

Wagon makers revenue to rise by 20% this fiscal: CRISIL

Wagon makers supplying to Indian Railways are set for a 20% revenue growth this fiscal, driven by increased operations and higher margins. CRISIL Ratings highlights a record order of over 90,000 wagons in the past two years. Private sector demand, especially from industries like steel and coal, further boosts the sector's performance.

The Economic Times

Decreased oil exports, because of lower crude prices increasing India's trade deficit: CRISIL

India's oil exports have been impacted by falling crude oil prices, leading to a contraction in overall exports in August. CRISIL reports that container shortages and US tariff hikes on Chinese goods are contributing factors. Despite these challenges, strong remittance inflows and a services trade surplus offer some stability.

Business Standard

US Fed rate cut to help emerging nations in taking similar step: CRISIL

The US Fed rate cut of 50 basis points will make it easier for the central bank in emerging countries, including India, to slash key policy rates, Crisil Chief Economist D K Joshi said on Thursday. Joshi also said Crisil is expecting food inflation to come down for FY25 if monsoon does not play spoilsport at the end of the season. "US Fed rate cut makes it easier for central banks in emerging countries, including India, to cut rates. But rate cuts in India, I think, will happen when there is a durable reduction in food inflation. And we do expect durable inflation to take place because higher than normal monsoon rains are playing out this year. So, the stars have aligned for rate cuts to happen in India," Joshi told PTI. "Our forecast is that the RBI may cut key policy rates within this calendar year," he said. Late Wednesday, the US Federal Open Market Committee voted to cut the federal funds rate target range by 50 bps to 4.75-5 per cent, from 5.25-5.50 per cent, against ...

Business Standard

Indian pharma sector set for 8-10% growth this fiscal: CRISIL Ratings

The sector is expected to benefit from steady cash flows and low financial leverage, which will help maintain stable credit profiles, even as pharma cos pursue acquisitions in niche therapeutic areas

The Economic Times

Limited Impact of Bangladesh's developments on India's FMCG, footwear & soft luggage sector: CRISIL

Recent developments in Bangladesh have had a limited impact on India's trade, according to a CRISIL report. Sectors like FMCG, cotton yarn, and footwear may see minor effects, while ship breaking and readymade garments could benefit. Prolonged disruptions could affect export-oriented industries with ties to Bangladesh.

The Economic Times

Axis Mutual Fund launches CRISIL-IBX AAA NBFC Index – June 2027 Fund

Axis Mutual Fund has introduced the Axis CRISIL-IBX AAA NBFC Index – June 2027 Fund, an open-ended Target Maturity Index Fund. This fund invests in the constituents of the CRISIL-IBX AAA NBFC Index – June 2027, offering moderate interest rate risk and relatively low credit risk. The fund is set to mature on June 30, 2027. The new fund offer is currently open for subscription and will close on September 23

Business Standard

State Bank of India receives ratings action from CRISIL

CRISIL Ratings has also withdrawn its rating on Tier I bonds of Rs 3104.8 crore (See 'Annexure - Details of Rating Withdrawn' for details) in line with its withdrawal policy. CRISIL Ratings has received independent verification that these instruments are fully redeemed.

The Economic Times

IndiQube Gets ‘CRISIL A+’ Rating, reports Rs 68 crore in PAT for FY24

The company generated a revenue of Rs 841 crore for FY24 registering a 42% growth over Rs 592 crore reported in FY23. Its reported PAT more than tripled to Rs 67.7 crore in FY24 compared to Rs 20.6 crore in FY23.

The Economic Times

Jewellery stocks surge up to 18%, Crisil forecasts up to 25% revenue boost from import duty cut

Shares of Tribhovandas Bhimji Zaveri and PC Jewellers hit new 52-week highs, rising 18% and 5%, respectively, following a CRISIL report predicting a 22-25% revenue boost for retailers due to reduced gold import duties and better working capital management.

The Economic Times

Budget import duty cut will boost gold jewellery retailers' revenues by 22-25 pc this fiscal: CRISIL report

A recent analysis by CRISIL Ratings, which examined 58 gold jewellery retailers representing a third of the organised sector's revenues, indicates that the sector will benefit from improved working capital management.

The Economic Times

Education loans to remain among fastest-growing segments for NBFCs: Crisil

Education loans for overseas courses are set to grow rapidly for non-banking financial companies (NBFCs) due to increasing demand for higher education. Crisil Ratings projects a 40-45% rise in assets under management, reaching over Rs 60,000 crore this fiscal. Despite country-specific concerns, asset quality remains stable.

The Economic Times

NFO Watch: Franklin Templeton Mutual Fund launches Medium to Long Duration Fund

The new fund offer (NFO) will be open for subscription from September 3 to September 17, with continuous sale and repurchase starting on September 26. The scheme, managed by Chandni Gupta and Anuj Tagra, will be benchmarked against the CRISIL Medium to Long Duration Debt A-III Index.

The Economic Times

Kotak Crisil-IBX AAA Financial Services Index – SEP 2027 Fund opens for subscription. Key things to know

Kotak Mutual Fund has introduced the Kotak Crisil-IBX AAA Financial Services Index – SEP 2027 Fund, an open-ended debt index fund targeting the CRISIL-IBX AAA Financial Services Index – Sep 2027. It has high interest rate risk, low credit risk, and will largely replicate the index.

Business Standard

CRISIL reaffirms rating of Kalpataru Projects; maintains 'stable' outlook

Kalpataru Projects International said that CRISIL Ratings has reaffirmed its 'CRISIL AA/Stable/CRISIL A1+' ratings on the bank facilities and debt programmes of the company.

Business Line

Auto dealers’ revenue to slow down: Crisil

Lower profitability and an increase in inventory will keep working capital debt elevated for dealers this fiscal

The Economic Times

Kotak Mutual Fund launches Crisil-IBX AAA Financial Services Index – SEP 2027 Fund

Kotak Mutual Fund has launched the Kotak Crisil-IBX AAA Financial Services Index – SEP 2027 Fund, an open-ended Target Maturity Debt Index Fund. It invests in CRISIL-IBX AAA Financial Services Index constituents, with a high interest rate and low credit risk.

The Economic Times

Net office leasing to grow 10-12% to 41-43 million sq ft this fiscal: CRISIL Ratings

Net leasing of Grade A commercial offices in India is projected to rise by 10-12% this fiscal, driven by strong demand from global capability centres, banking, financial services, insurance, and manufacturing sectors. This growth will improve cash accruals and credit profiles of commercial real estate entities. CRISIL Ratings highlights floor-wise denotification of SEZs aiding this trend.

Business Standard

Revenue growth of road EPCs to slow down to 5-7% by FY26: CRISIL Ratings

The operating profitability is supported by a 5 to 17 per cent decline in prices of key raw materials, steel and bitumen, from their peaks in FY22

The Economic Times

Road developers to see slower revenue growth of 5-7 pc next fiscal: Crisil

Road engineering, procurement, and construction (EPC) companies are expected to see a moderate revenue growth of 5-7 per cent next fiscal due to lower national highway awarding impacting their order books. Despite this, their credit profiles are expected to remain stable supported by steady operating profitability and strong balance sheets. The slowdown in growth is attributed to various factors including procedural issues and transition-related challenges as the government explores different project models. Prices of key raw materials have decreased, providing some relief.

Business Standard

Small Finance Banks' loan growth to lower to 25-27% in FY25: CRISIL Ratings

Small Finance Banks' (SFBs) loan growth will moderate to 25-27 per cent in FY25 against 28 per cent in FY24, a domestic rating agency said on Monday. Crisil Ratings said though a tad lower, the advances growth will be robust and driven by factors like segmental and geographical expansion by the entities. While capital buffers remain healthy, SFBs will face challenges in mobilising deposits and their costs and will explore alternative, non-deposit avenues to fund credit growth, the agency said. The asset growth will be driven by traditional microlending being the most popular and new ones like mortgages, small businesses or even unsecured loans. "Credit growth in new asset classes is seen at 40 per cent this fiscal, while that in traditional segments will be 20 per cent," its senior director Ajit Velonie said. He added that the share of new asset classes will cross 40 per cent by the end of March 2025 on the back of the faster growth and underlined that most of the asset ...

The Economic Times

Small finance banks credit growth expected to slow down to 26% this fiscal

Small finance banks' growth was expected to decelerate to 26% this fiscal year from 28% previously, as they explored alternative funding avenues, Crisil reported. Credit growth in new asset classes was seen at 40%, with diversification in loans such as mortgages and vehicle loans. Expansion in semi-urban and rural markets was a significant growth driver.