Mid-corporates staring at 16% revenue drop in 2020-21, says India Ratings

Retaining a negative outlook for the mid and emerging corporates, India Ratings on Friday projected a near 16 per cent fall in revenue in 2020-21 due to the persisting liquidity and macroeconomic headwinds and sees a recovery only in the second half of the next fiscal year.
 
In its previous forecast in May, the agency had forecast 6.02 per cent fall in aggregate revenue. But the still continuing lockdowns and the resultant disruption to business have upended the fortunes of all businesses.
 
“We maintain a negative outlook on our mid & emerging corporates portfolio for the second half