Page 6 - Crisil

Indian pharma industry to log in 8-10% revenue growth this fiscal: CRISIL

The Indian pharmaceuticals industry is expected to log in a revenue growth of 8-10 per cent in current fiscal aided by a steady domestic growth and increased exports to regulated markets, even as semi-regulated markets face headwinds, according to a report. A study of 186 drug makers, which accounted for about half of the Rs 3.7 lakh crore annual revenue of the sector last fiscal, indicates as much, Crisil said on Monday. "Similar to last fiscal, domestic growth in fiscal 2024, will be led by 5-6 per cent increase in realisations, supported partly by high price hikes allowed by the National Pharmaceutical Pricing Authority (NPPA) for drugs under price regulation," Crisil Research Director Aniket Dani said. In addition, sale of existing drugs and new launches will drive 3-4 per cent volume growth, he added. Operating profitability is also seen improving 50-100 basis points (bps) to 21 per cent this fiscal, supported by moderation in input and logistics costs, and abating pricing ...

Balrampur Chini Mills is expecting 20% higher revenues in FY24: CFO

Sugar prices are on a high with a fall in production primarily due to unseasonal showers in key growing areas of Maharashtra and Karnataka in March

Tomato prices pushed cost of vegetarian thali up 24% in August: CRISIL

For non-veg thali, the cost was up 13 per cent. It was lower than that of a veg thali owing to a marginal rise in broiler prices

Crop vulnerability grows with fickle rains, shows CRISIL's DRIP index

DRIP scores for these crops are worse than their respective averages in the previous five years

Road, renewables capex likely to rise by 35% in FY24 & FY25: CRISIL

The total capital outlay for roads and renewables in 2023-24 and 2024-25 is likely to jump by 35 per cent to Rs 13 lakh crore compared to that in the last two fiscal years, according to a report. Conducive policies, rising investor interest and strong execution speed are expected to drive the capital outlay in the sectors, the report by Crisil Ratings said on Tuesday. The pace of road construction and capacity addition in renewables is seen growing by 25 per cent and 33 per cent, respectively, in the current and next fiscal, and the capex growth is expected to sustain over the medium term, the report said. Crisil Ratings Managing Director Gurpreet Chhatwal said the pace of execution of renewable energy projects is set to increase 33 per cent to 20 GW per annum over the current and next fiscal as compared to 15 GW per annum in the past two fiscal years, supported by a healthy executable pipeline of 50 GW of projects as of March 2023. Similarly, road construction is set to improve 25

MSMEs in steel sector get an India build-out lift: CRISIL SME Tracker

MSMEs in the steel sector mostly manufacture long steel products such as rebars and wire rods using induction-based furnaces and raw materials such as steel scrap and sponge iron

ARPU of Indian telcos to rise 8-10% to Rs 190 this year, says CRISIL

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

Social welfare spending by states to touch 10-year high this year: CRISIL

CRISIL added that the rise in allocation towards social welfare has coincided with a moderation in the growth of revenue receipts, resulting in continuing revenue deficits for the states

Rural demand to boost revenue of hosiery industry by 18-20% in FY24: Crisil

The Indian hosiery industry is likely to witness 18-20 per cent revenue growth to Rs 36,000 crore this financial year, supported by the revival in rural demand, a report said on Monday. Rural demand, which accounts for almost half the domestic revenue, was impacted last fiscal amid rising inflation and lower farmer income and as a result, the overall volume declined by 30 per cent year-on-year, a report by Crisil Ratings said. "This fiscal, urban demand is expected to remain stable, while a well distributed monsoon and probable inflation moderation should boost rural demand, leading to a recovery of 35-40 per cent in volume. Potential export opportunities, especially to Gulf countries, could bump up volume further," Crisil Ratings Director Rahul Guha said. The Comprehensive Economic Partnership Agreement (CEPA) signed by the government with the UAE could boost textile segment exports, especially of hosiery. Tailwinds from the agreement could add 2-3 per cent to hosiery exports from

Strong demand to boost revenue of dairy industry by 14-16% in FY24: CRISIL

Strong demand for value added products and stable consumption of liquid milk will lead to a 14-16 per cent revenue growth for the organised dairy industry in 2023-24, a report said on Thursday. With raw milk supply improving, there will be fewer price hikes and profitability will recover 20-50 basis points, Crisil Ratings said in the report. "We believe the strong revenue growth in VAP (Value Added Products) seen over the past few years will continue. This fiscal, the segment should grow 18-20 per cent and consequently, the share of VAP in overall revenue could rise to 40 per cent from 35 per cent four fiscals back," Crisil Ratings Senior Director Mohit Makhija said. He also said that given that demand from both retail and institutional segments remained strong, the share of VAP will continue to rise and on the other hand, liquid milk revenue will grow 8-10 per cent this fiscal backed by steady demand. Further, the report said that in the last fiscal, disruptions in raw milk supply

Bandhan Sterling Value Fund: Setting new benchmarks and surpassing peers

The fund's month-end assets under management increased to Rs 6,122 crore in June 2023 from Rs 2,339 crore in June 2020

Travel growth to drive luggage makers' revenue by 15% in FY24: CRISIL

Steady growth in tourism and corporate travel and preference for premium products will drive luggage sales in the current fiscal, helping manufacturers clock a 15 per cent growth in revenue, according to a report. This will be on the back of a 40 per cent rise in luggage makers' revenues in 2022-23, the report by Crisil Ratings said on Wednesday. Consumers' preference for hard luggage has driven up operating efficiencies and improved capacity utilisation of luggage makers in the organised sector, which will help expand their operating margin by 150-200 basis points year-on-year to 16 per cent this fiscal, the report said. The growth in margins and top line are aided by a 20 per cent fall in prices of key raw materials -- polypropylene, polycarbonate, and polyamide, it said. Raw material prices, largely driven by cost of crude, comprise 40-45 per cent of the cost for luggage makers, the report, which is based on 90 per cent of the organised luggage market, stated. Crisil Director J

A veg thali now costs 28% more. What is to blame?

A veg thali cost 28% more in July than June, thanks to tomatoes: CRISIL

A veg thali comprises roti, vegetables (onion, tomato, and potato), rice, dal, curd, and salad

Onion prices might touch Rs 60/70 per kg by month-end, says Crisil

Such a scenario could extend the current lean season by 15-20 days, potentially tightening supplies and driving prices upwards, the report added

Indian exports face bigger threat from Asia-Pacific than West: CRISIL

CRISIL also said that the share of the US and the EU in India's goods exports has been on the rise since 2021 and it is eating into the share of the APAC region

HDFC Bank overtakes SBI in CRISIL's corporate banking ranking for 2023

For middle market corporates, HDFC Bank again topped the list of 2023 Leaders among local banks, and joined ICICI Bank as the year's joint Greenwich Quality Leaders

CRISIL upgrades credit rating of Fortis Healthcare in biz risk profile

Crisil has upgraded the credit rating outlook of Fortis Healthcare basis sustained improvement in the business risk profile of the company. It has upgraded the credit rating on long-term bank facilities for Fortis Healthcare Limited (FHL) to 'AA / Stable outlook' from the earlier 'AA- / Positive outlook', the company said in a release. The short- term rating has also been reaffirmed at 'Crisil A1+'. This rating is considered to have a high degree of safety regarding timely payment of financial obligations. "Crisil upgraded long-term credit rating to AA basis sustained improvement in the business risk profile of FHL driven by bed expansions, steady occupancies, better surgical mix, improved average revenue per occupied bed (ARPOB) metrics, and increasing international patient revenues, which are also leading to healthy operating profitability," it said. It further said consolidated operating EBITDA of FHL improved to about Rs 1,163 crore in 2022-23 from Rs 1,096 crore in FY22 and ne

FMCG sector to witness a lower 7-9% rise in revenue this year: CRISIL

The year is likely to see a higher volume amid a gradual recovery in rural demand and a stable growth in urban demand, but prices are expected to be range-bound

Top 18 Indian states to record revenue growth of 6-8% in FY24: CRISIL

The growth will be predominantly supported by the Goods and Services Tax (GST) collections, devolutions from the Centre and taxes & duties on liquor sales