The fund has consistently outperformed its peers in all trailing periods under analysis
The rating provider launched its ESG scoring business in 2021 and now tracks over 1,000 companies across 65 sectors
Ratings firms Crisil on Tuesday reported a 5.4 per cent drop in consolidated net profit to Rs 138 crore for the first quarter ended March 31. The company had posted a net profit of Rs 146 crore in the same period last year. Crisil's consolidated total income rose to Rs 751 crore for the quarter ended March 31, 2024, from Rs 732 crore a year ago, the company said in a regulatory filing. At the same time, expenses increased to Rs 563 crore during the quarter against Rs 539 crore in the year-ago period. Its board has also approved the payment of an interim dividend of Rs 7 per equity share of face value of Re 1 each, for the financial year ending December 31, 2024, which will be paid on May 14, 2024, it said. Crisil follows a calendar year as its financial year. The rating agency expects India's GDP growth to moderate to 6.8 per cent in fiscal 2025 due to high-interest rates, fiscal consolidation and uneven global growth. On the other hand, healthy corporate balance sheets, a robus
Rating upgrades surpassed downgrades in H2FY24. Outlook remains robust for H1FY25
CRISIL Ratings has assigned its "AAA/Stable" rating to the Rs 2,000 crore non-convertible debentures and Rs 2,000 crore lower Tier II bonds
Mint Road's nudge to NBFCs to diversify their funding will change the game. NBFCs claim they have been caught off guard, but the issue was flagged by RBI Governor
The hospitality industry is expected to clock 11-13 per cent revenue growth in 2024-25 on steady domestic demand and a rise in foreign travellers, a report said on Monday. This revenue growth will follow a likely 15-17 per cent growth in the current financial year, backed by steady domestic demand and ramp-up in foreign travellers, Crisil Ratings said in a report on Monday. The strong demand dynamics along with modest new supply will keep the operating performance of the industry healthy over the near term, the report added. According to the report, the healthy operating performance will augur well for the industry profitability where the EBITDA, or earnings before interest, taxes, depreciation, and amortization will continue the strong momentum over the current and the next fiscal. This, along with limited capital expenditure, will keep the credit profiles strong, the report noted. "The domestic travel demand, which remained a key driver this fiscal, will sustain next year as wel
The Indian economy is expected to grow at an average rate of 6.7 per cent per annum until the end of the decade, CRISIL said in its latest report. The economy will grow at this rate between the financial years 2024 to 2031, a notch above the pre-pandemic average of 6.6 per cent. According to CRISIL, the key contributor to this trend will be capital. This is a result of the investment-driven strategy of the government when the private sector was shy of making investments. The government increased capital expenditure significantly to support building expenditure and providing interest-free loans to states to bolster their own investment efforts, the report said. CRISIL said that after a robust 7.3 per cent growth this fiscal, there will be moderation to 6.4 per cent in the next financial year. There is also a need to monitor the impact of the escalation of the Middle East conflict on energy and logistics costs, it said. In India, the inflation level of 5.7 per cent in December 202
Domestic shipping companies are likely to see a further 5-7 per cent decline in revenue in the next financial year amid normalisation of the rates, a report said on Thursday. This follows a steep 23-25 per cent fall in their revenue in the current fiscal (2023-24) after a 35 per cent growth in the last financial year when charter rates had surged because of geopolitical conflicts (including the Russia-Ukraine war) and higher demand from China post-pandemic, credit rating agency CRISIL said on Thursday. While the margin profile may vary widely across players operating in different segments, CRISIL said the average operating margin may continue to moderate to 33-35 per cent in the next fiscal driven mainly by the correction in charter rates. However, it will remain higher than the pre-pandemic levels of 25-30 per cent, the rating agency forecast. This along with modest capital expenditure (capex) plans, should sustain the healthy credit risk profiles of shipping companies, CRISIL ...
The group's overall credit profile is supported by adequate capitalization, and a diversified business profile with good market position in asset reconstruction and asset management businesses
CRISIL Ratings expects Tata Power's consolidated adjusted Ebitda to be more than Rs 12,000 crore each in fiscals 2024 and 2025, against around Rs 11,500 crore in FY23 and around Rs 9,600 crore in FY24
Tata Power on Wednesday said Crisil Ratings has upgraded its outlook on the company to 'positive' on expectation of an improvement in operating profitability this fiscal. The ratings agency had earlier assigned a 'stable' outlook on the company, Tata Power said in a regulatory filing. "CRISIL Ratings Limited has upgraded its outlook on the company (Tata Power) from AA/Stable Outlook to AA/Positive Outlook," it said. The revision in outlook reflects the possibility of better-than-expected business risk profile, if the improvement in operating profitability in fiscal 2024, across power generation and distribution business, sustains along with a continuing healthy financial performance with consolidated net leverage (ratio of net debt to EBIDTA) remaining within rating threshold, it said. The increase in operating profitability of Tata Power since fiscal 2023, is mainly on account of better profitability of its Mundra Ultra Mega Power Project (Mundra plant), improved efficiency in Odi
Employers' push for increased physical occupancy in offices may prove to be another tailwind for office leasing
Crisil has upgraded its ratings on Inox Wind Limited with a stable outlook, according to a regulatory filing. Part of INOX GFL Group, Inox Wind Limited is India's leading wind energy solutions provider servicing independent power producers (IPPs), utilities, public sector units (PSUs) and corporate investors. "CRISIL has upgraded its ratings from Crisil BBB+ to Crisil A- (long term rating), Crisil A2 to Crisil A2+ (short term ratings) with stable outlook in relation to ratings of its banking facilities," the company said in a regulatory filing. Crisil's rationale for upgrading Inox Wind's ratings reflects the steps undertaken by the promoters in fiscal 2024 to reduce debt, leading to significant improvement in the financial risk profile, improvement in the business risk profile which the company has demonstrated by delivering significant improvement in operating performance in the first half of fiscal 2024 and commercialisation of the 3.3 megawatt (MW) turbine. The upgrade in ratin
On paper, the co-lending model is a winner. But it calls for a high level of coordination: Policies would have to be agreed upfront between banks and NBFCs
The Delhi-based finance company did not make any substantial disbursements during May-September 2023 due to lack of fresh funding
The agency mentioned that the ratings might be downgraded if Vedanta cannot reduce its end-of-year financial leverage to below 2.7 times through the asset monetisation route
Readymade garment manufacturers are likely to post an 8-10 per cent increase in revenue on the back of growing domestic demand and revival of exports, a report said on Friday. Domestic demand and revival in exports have been driven by lower cotton prices and easing supply-chain disruptions, the report by Crisil Ratings said. Volume growth will be higher at 6-8 per cent this fiscal, compared with 3-5 per cent last fiscal, it said. Despite this, revenue will grow slower than the 14 per cent in the last fiscal as realisations moderate due to easing raw material prices. The Crisil Ratings report further said prices of cotton and man-made fibre are expected to fall 15-17 per cent and 8-10 per cent, respectively, this fiscal. Consequently, growth in realisations will be a meagre 1-3 per cent this fiscal, as against 10 per cent last year, the rating agency said. "Readymade garment manufacturer makers will rely on domestic consumption (75 per cent of the overall demand), which is expecte
Renewable solutions provider Suzlon Energy on Wednesday said Crisil upgraded its ratings by two notches to BBB+/A2 with a positive outlook. "Suzlon Group today announced that Crisil has upgraded the ratings of Suzlon Energy Ltd to CRISIL BBB+/A2 from CRISIL BBB-/A3' with a Positive Outlook for long-term and short-term facilities, reflecting the company's strengthened financial position, operational excellence and favourable sectoral tailwinds," a company statement said. According to the statement, the rating upgrade is a result of Suzlon's successful reduction of debt by repaying the entire term debt through the proceeds of a qualified institutional placement (QIP) of approximately Rs 2,000 crore. The reduction in fund-based borrowings, steady cash flows from the operations and maintenance (O&M) services business, and improved business profile in the wind turbine segment have contributed to this upgrade. Suzlon Group Chief Financial Officer Himanshu Mody said, "This upgrade is a .
CRISIL added that the operating profits of these companies could record a 15 to 17 per cent rise to Rs 1.2 trillion this year from Rs 1.04 trillion in 2021-22